News and resources on payments systems, innovations and initiatives worldwide.

Progress bank contracts with Sensibill for digital receipt management

Source: Sensibill

Sensibill, the leading provider of AI and machine learning (ML)-powered SKU-level data and financial tools like digital receipt management that help institutions better know and serve their customers, today announced that $1.4 billion-asset Progress Bank has launched the company’s digital receipt management solution, saving time, boosting efficiencies and enhancing the digital experience for customers.

Progress Bank is a commercial-focused institution that serves businesses in communities throughout Alabama and the Florida panhandle. The bank wanted to add to its arsenal of digital tools designed to help businesses that are typically too busy to visit the branch, which prompted the partnership with Sensibill. By leveraging Sensibill’s AI/ML technology through the FIS Digital One platform, the bank’s business customers can now easily capture and store receipts from the convenience of their digital banking apps. Such functionality allows the businesses to more easily track spending, separate business and personal expenses, and better manage their overall financial health.

Randy Tidwell, SVP of Operations, Finance and Technology, at Progress Bank, said, “We have long been dedicated to providing a seamless, convenient experience for our busy business customers, and partnering with Sensibill directly supports that strategy. With Sensibill, we are modernizing and digitizing receipt and expense management, a traditionally cumbersome and time-consuming process. This ultimately helps our customers save time, reduce stress and manage their personal and business finances more easily. As businesses look to navigate the pandemic’s lasting impacts, digital tools like these become even more critical to provide meaningful support.”

In addition to delivering speed and convenience to customers, digital receipts also provide SKU-level data to Progress Bank, which can help the bank better know their customers and anticipate their timely financial needs. Tidwell continued, “To provide strong service in today’s environment, we must understand our customers on a deeper level. The SKU-level data delivered by Sensibill will help us uncover new details about our customers’ behaviors, preferences and probable financial needs. We expect these tools to help us strengthen digital engagement and drive loyalty.”

Corey Gross, co-founder and CEO of Sensibill, commented, “Relationship-focused institutions like Progress Bank understand the importance of providing customers with quick and intuitive digital tools to help them better manage everyday spend. By leveraging our technology, the bank’s customers eliminate the time and hassle of keeping up with and analyzing paper receipts, leading to easier tax seasons and expense management. At the same time, the bank is gaining new transparency into who their customers are and what they need to succeed financially, increasing engagement and positively contributing to the bottom line.”

Comments: (0)