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Lili joins forces with Dun & Bradstreet

Friday 16 August 2024 08:46 CET | News

Lili, a financial platform developed to support small businesses, has joined Dun & Bradstreet in a strategic agreement to optimise business banking. 

By integrating Dun & Bradstreet, which provides business decisioning data and analytics, Lili aims to continue to improve business finances and offer owners the tools and services that can support them in their expansion objectives. The decision to collaborate can be attributed to the current concerns of business owners regarding access to capital, which, if not received, can substantially impact their development.

Lili, a financial platform developed to support small businesses, has joined Dun & Bradstreet in a strategic agreement to optimise business banking.

As part of their alliance, Dun & Bradstreet’s small business customers are set to be able to apply to open a Lili business checking account directly from the firm’s myD&B platform, where they can access all D&B’s products and solutions in a centralised portal. Following the opening of the account, customers can sync their financial data with D&B Credit Insights, enabling them to work towards improving their business scores. Through this, Lili and Dun & Bradstreet aim to allow small businesses to build and optimise their credit file and history, thus assisting them in getting the capital they need more conveniently.

 

How will Lili and D&B support small businesses?

Considering that many small businesses rely on their personal savings to fund their operations due to not being able to receive credit and capital, Lili aims to provide them with the tools and solutions that can support them in advancing their capabilities and growing their operations. Officials from Lili underlined that, by teaming up with their company, Dun & Bradstreet’s customers can now access financial solutions that equip them with advanced resources, which can in turn potentially scale up their businesses. On the other hand, Dun & Bradstreet’s representatives mentioned that the partnership with Lili is set to enable small business customers to achieve sustainable growth and financial health and, by separating business from personal funds, owners can better protect their personal assets while also simplifying accounting and tax preparation and improve credibility with clients and investors.

The current news comes shortly after the launch of Lili’s Accountant AI. This generative AI chatbot leverages businesses’ financial data and updated industry knowledge to equip businesses with customised, instant recommendations about their finances. The solution is set also to be available to Dun & Bradstreet customers who sign up for Lili Smart of Lili Premium.

Source: Link


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Keywords: partnership, SMEs, SME lending, funding, credit access, financial services
Categories: Banking & Fintech
Companies: Dun & Bradstreet, Lili
Countries: World
This article is part of category

Banking & Fintech

Dun & Bradstreet

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Lili

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