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Case Study

Fintech Startup Chooses Eide Bailly to Drive Efficiency, Streamline Processes

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HMBradley
HM Bradley| Santa Monica, CA

 Founded in 2019, HMBradley has been on the cutting edge of offering consumers banking and credit card solutions designed to make personal finance truly rewarding. As a Series B startup with $55 million raised to date, HMBradley has grown its presence in the fintech space very quickly, competing effectively with other online banking solutions such as SoFi and ONE. 

To ensure the company keeps pace and removes obstacles that could hinder growth, HMBradley required a management system that would streamline its operation and scale as the company grew. 

KEY RESULTS

  • Enabled reconciliation between core processing, network processors, and credit card networks
  • Improved interface and reporting capabilities
  • Increased the amount of data and insight available for decision making
  • Streamlined financial operations to ensure success as company grows
  • Utilized visualization tool for increased capability
  • Reduced time spent setting up and running reports

Implementation & Optimization

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The Challenge

As a digital banking platform, HMBradley relies on core bank processing.

Not many financial management solutions are robust and flexible enough to handle HMBradley’s requirements. What was needed was a reliable software solution with a long track record of success managing financial transactions.

yellow 1
Inefficiencies in tracking and managing customer data
    yellow 2
    Finding the right solution to manage financial transactions
      yellow 3
      Finding a system that would allow the operation to be run from its own banking core

        The Solution

        A robust software solution provided by a trustworthy implementation partner.

         NetSuite, the cloud-based ERP solution with thousands of users worldwide, was identified as the business management tool most compatible with HMBradley’s requirements.

        The HMBradley requirements included setting up a basic geographic information system, or GIS, running its operation from its own banking core, and managing customer entries. In addition, the company needed to transfer historical transactions from its previous system, create a chart of accounts, and ensure its daily reporting was cleaned up and ready to be used in a live environment. 

        HMBradley also wanted to ensure it connected ancillary business systems like HRES, its core processor, and credit card data. 

        “We chose Eide Bailly because they fit closely with what we were looking for, a financial consulting firm with a firm grasp on the fintech space and a thorough understanding of NetSuite.”

        -Jeremy Trujillo, Corporate Controller | HMBradley

        The Results

        A robust, intuitive system that provides insight into operations.

        While each implementation can vary based on the client and the complexity of the requirements, the HMBradley implementation was completed in a relatively short timeframe. The implementation took only two months and came in under budget.

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