How they describe themselves: Obloco is a FinTech company providing white label expense reporting solutions to bank and credit union members. Our product allows business banking members to create simple, intuitive expense reports through their online banking and mobile banking apps. 70% of businesses with 100 or fewer employees still use manual processes to manage expenses, costing immense amounts of time and money. Obloco’s solution is tailored for small businesses, delivering needs-based value at a price they can afford. Banks reap the value windfall of increased member engagement, retention and the ability to acquire new members as a result of this offering.
How they describe their product/innovation: Obloco’s expense reporting solution is tailor-made for small business owners by offering intuitive expense reporting in a convenient, centralized location: their online banking. In a recent survey of small businesses on expense reporting, lost receipts were named the primary pain point across the board. Our product eliminates the pain with automatic email receipt capture and simple, seamless paper receipt capture through the member’s mobile banking app. With every receipt from every business expense stored in one centralized place, users can quickly and easily create expense reports right from their online or mobile banking. Obloco saves business banking members valuable time and money while vastly reducing the hassle of expense reporting.
Product distribution strategy: Direct to Business (B2B), through financial institutions, licensed