NEW YORK, August 13, 2024 /PRNewswire/ — LilyThe financial platform designed for small businesses, today announced a strategic collaboration with Dun and Bradstreetglobal leader in business data and decision analytics, to improve the next generation of corporate banking.
More than three quarters of small business owners are concerned about their ability to access capital, and barriers to accessing credit can significantly slow business growth. Through this integration with Dun & Bradstreet, Lili continues its mission to simplify business finance and provide business owners with the tools they need to succeed.
Dun & Bradstreet small business customers can now apply to open a Lili business checking account directly from Dun & Bradstreet’s myD&B platform, which provides access to D&B’s small business products and solutions in one centralized portal. After opening their account, they will be able to sync their financial data with D&B Credit Outlookwhich will allow them to potentially impact key business scores. This will enable hundreds of thousands of small businesses to take steps to improve their business credit history and file.
“With a majority “With most small businesses relying on their personal savings to fund their businesses due to a 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 CEO of Lili. “We are thrilled 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.”
“Partnering with Lili is an essential step towards the sustainable growth and financial health of our small business clients,” said Chris MossSmall Business General Manager at Dun & Bradstreet. “Separating business and personal finances can not only help protect personal assets, but also streamline accounting and tax preparation, improve credibility with clients and investors, and lay the groundwork for long-term success.”
This collaboration follows the launch of Lili’s Accountant AI, a generative AI chatbot that leverages company financial data and the latest industry insights to provide business owners with instant, personalized recommendations on their business finances.
Accountant AI will be available to Dun & Bradstreet clients who sign up for Smart lily or Lili Premium.
Lili is a financial technology company, not a bank. Banking services are provided by Choice Financial Group, Member FDIC, or Sunrise Banks, NA, Member FDIC.
About Lili
Founded in 2019 by financial and technology industry veterans Lilac Bar David and Liran Zelkha, Lili is a purpose-built financial platform for businesses that offers a combination of advanced business banking with integrated accounting and tax preparation software to help business owners streamline and simplify their finances. Backed by Group 11, Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, Target Global, and Zeev Ventures, Lili is headquartered in New York and serves clients in all 50 states. Banking services are provided by Choice Financial Group Inc. and Sunrise Banks, NA, Members FDIC. For more information, visit lili.co.
SOURCE Lili
