Building a financial ecosystem for SMBs with ForwardAI
To Nick Chandi, Co-Founder and CEO of ForwardAI, SMBs represent a massive segment of our economy—as well as a drastically underserved one. ForwardAI offers a single API that connects accounting platforms to banks, lenders, and fintechs looking to offer services to SMB clients. It has also recently launched a cash flow forecasting tool for SMBs. Chandi argues that interoperability and real-time data can create more informed and scalable advisory services for SMBs, can help banks and others to make faster lending decisions, and thereby support fledgling companies through volatile periods.
The company also recently published a white paper titled “Rising small business expectations and the evolving roles of financial service providers.” ForwardAI found that most financial service providers offer neither funding advisory nor cash flow forecasting services to SMBs, standing in stark contrast to the rising expectations of business owners in North America.
In an interview with The Financial Revolutionist, Chandi outlines the market need ForwardAI addresses, describes the competitive dynamic between accounting platforms and banks, and envisions the future of SMB financial advisory services. Read more on The Financial Revolutionist.