FINBOA Continues Growth Trajectory in Third-Quarter Performance

Direct Sales and Distribution Partners Drive Expansion of Client Base

HOUSTON, Dec. 2, 2024 /PRNewswire/ -- FINBOA Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, has reported a commendable 46% year-over-year increase in third-quarter revenue, indicating a steady growth trend.

Since the start of the year, 44 new financial institutions have adopted FINBOA's Payment Disputes, bringing FINBOA's total customer base to more than 250 financial institutions nationwide. Achieving a 50% increase in add-on sales demonstrates success in expanding business with existing clients.

"The FINBOA team is entering the final quarter of 2024 with strong momentum," said Raj Singal, CEO and Founder of FINBOA. "With the launch of innovative offerings like our business intelligence product for disputes, we are confident in sustaining this growth into 2025. We look forward to unveiling new partnerships and expanding our solutions to drive further success."

Driving Efficiency and Compliance
FINBOA's Payment Disputes SaaS solution helps financial institutions ranging from hundreds of millions to tens of billions in assets reduce compliance costs, mitigate risks and enable more efficient dispute resolution.

About FINBOA

FINBOA provides intelligent process automation software to banks and credit unions to simplify dispute processing and improve regulatory compliance by eliminating manual systems. Solutions include FINBOA Payment Disputes along with companion products, FINBOA BI Disputes and AutoDecision. FINBOA delivers transformative software proven to enable institutional growth by reducing operational costs and risk.

In 2024, FINBOA received industry accolades including the US FinTech Awards 2024: Banking Tech of the Year, PayTech USA Award: Tech of the Future, Finovate Award finalist, CU Times Luminary Award for Product Innovation, Jack Henry Associates' Cobalt Integrator's Award and selection for the ICBA ThinkTech Accelerator's program; as well as being named to the INC 5000 list of fastest growing U.S. businesses.

Headquartered in Houston, FINBOA is trusted to help over 250 financial institutions nationwide achieve targeted business outcomes and peace of mind.

Learn more at www.finboa.com or follow us on LinkedIn, Facebook and X Twitter.

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SOURCE FINBOA