Lili, the financial platform designed for small businesses, announced a strategic collaboration with Dun & Bradstreet, a global leader in business decisioning data and analytics, to enhance the next generation of business banking.
More than three quarters of small business owners are concerned about their ability to access capital, and hurdles in accessing credit can significantly curtail business growth. Through this integration with Dun & Bradstreet, Lili continues its mission to simplify business finances and provide business owners with the tools they need to succeed.
Dun & Bradstreet’s small business customers can now apply to open a Lili business checking account directly from the Dun & Bradstreet myD&B platform, which provides access to D&B products and solutions for small businesses together in one centralized portal. After opening their account, they will be able to sync their financial data with D&B Credit Insights, allowing them to potentially impact key business scores. This will enable hundreds of thousands of small businesses to take steps towards building their business credit file and history.
Also Read: Baker Hill Appoints Andy Ivankovich as New CEO
“With a majority of small businesses relying on their personal savings to fund their business due to lack of access to credit and capital, there is a pressing need for more tools to help small businesses succeed,” said Lilac Bar David, co-founder and Chief Executive Officer of Lili. “We are delighted that Dun & Bradstreet has chosen Lili to help its customers access innovative financial solutions, providing them with better resources to set them up for success.”
“Teaming up with Lili is an essential step for the sustainable growth and financial health of our small business customers,” said Chris Moss, General Manager, Small Business at Dun & Bradstreet. “Separating business from personal finances can not only help protect personal assets, but also streamline accounting and tax preparation, enhance credibility with clients and investors, and set the foundation for long-term success.”
This collaboration follows the launch of Lili‘s Accountant AI, a generative AI chatbot that harnesses businesses’ financial data and the latest industry information to provide business owners with personalized, instant recommendations about their business finances.
Accountant AI will be available for Dun & Bradstreet customers who sign up for Lili Smart or Lili Premium.
SOURCE: PRNewswire