Fintainium partners with CIT group to optimize B2B payments

US-based payments company Fintainium has partnered with CIT group Treasury and Payments Services Company to offer Fintainium cloud-based and financial management solutions platform to small and medium companies. In addition, the companies will waive off fees to sign up to the platform for the next three months still June 30.

“Successfully handling payments workflows is one of the biggest challenges that businesses face in this period of economic uncertainty. Our collaboration with FINTAINIUM is the right answer at the right time for small and mid size businesses, and we are pleased to offer a digital tool to help them manage their business from any location,” said Bob McElyea, Managing Director, Treasury and Payment Services for CIT.

This partnership will provide businesses with cash support as the pandemic sees revenues falling. Fintainium will use its Dynamic Negotiation Software-as-a-Service (SaaS) tool, which will help businesses offer extended payments term in a trade for discounts to their suppliers. With the addition of CIT, it will allow for greater transparency and through automation of the process, the risk of fraud will decrease.