Banking-as-a-Service (BaaS)

Many enterprises and FinTechs know they can provide meaningful value to their members by offering fully-branded bank accounts/features in their products, and they leverage a Banking-as-a-Service (BaaS) platform to do so.

Furthermore, businesses and business owners have forever dreamt of having all their finances in one place. Combining your existing or upcoming BaaS integration with Hurdlr helps you make their dream a reality.

Hurdlr's API makes it easy to add robust expense tracking, invoicing, financial reporting, accounting, and tax functionality to your business banking products, with minimal effort.

1. Benefits of integrating Hurdlr with your BaaS implementation

By adding the Hurdlr API on top of your BaaS implementation, you can:

a) Quickly add desired features that will help you acquire and retain business customers

b) Vastly decrease development resource allocation and time to market

c) Stay focused on your immediate roadmap, while knowing that the future use cases for your business finance super app are available for you when needed

2. Customer Experience

The Hurdlr API enhances your business banking customer experience, by adding:

a) Expense Tracking: Easily display expenses with business-specific categories that get smarter over time by leveraging A.I.

b) Invoicing: Provide robust invoicing functionality with your preferred payment rails, while resting assured that bank deposit transactions will be automatically reconciled to the relevant invoice(s)

c) Accounting (General Ledger, Reconciliation, etc.): Hurdlr's "Invisible" Double-Entry Accounting automatically populates the proper accrual basis transactions in a General Ledger for every expense, invoice, tax payment, etc., that flows through the bank account

d) Financial Reporting: The beauty of Hurdlr's "Invisible" Double-Entry Accounting is that businesses get all the financial reporting they could ever need, without the burden of having to understand bookkeeping, including HTML, PDF, and XLS reports for:

Profit & Loss
Income by Business / Client
Expenses by Business / Client / Category
Balance Sheet
Trial Balance

e) Taxes: Easily provide your business customers with income tax estimates and tax reporting

3. Implementation

Once you have registered your user with the Hurdlr API, you can immediately start pushing your user's transactions into the Hurdlr API. The transaction object has fields specific to each BaaS provider. By populating those fields, Hurdlr's algorithms will be able to leverage the granular data that the BaaS provides, which results in accurate categorization of all transactions into the proper business expenses (with business-specific categories), income, tax payments, and bank transfers.

Hurdlr also supports other methods for pulling in transactions from a BaaS provider, including allowing you to securely share your user's access_token, which lets the Hurdlr API pull transactions in automatically. This approach removes the need for you to build a back-end.

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Whether you are building your own UX from scratch or have some existing functionality that you are looking to enhance, the Hurdlr API team is here to help. Don't hesitate to email us at [email protected], and we would be glad to help you create and complete the best next steps for your specific product and vision.

4. Next Steps

Once the connection between your BaaS provider and the Hurdlr API is complete, all of Hurdlr's Expense Tracking, Invoicing, Accounting, Financial Reporting, and Tax features will immediately become available to your user, both in the Embeddable User Interface and via API.