One of the most comment questions we get at Palm is “Why do I need to connect my business account?” Below we explain why, and what happens next.
Peace of mind & prosperity for small businesses everywhere is our North Star. The more data our AI systems are able to learn from, the more it can better help you grow and save. Read on for more details on how Palm uses Member information to help you save.
With Palm, once you connect your business account we are able to provide you with instant, weekly and monthly spending recaps and insights that help you better understand how and where you’re spending the most on your business. The more accounts you connect, the more insights we’re able to give you across your business. We use AI to help us understand the spending across your accounts and to learn about the categories and vendors you spend the most. You can’t save what you don’t know you’re spending, so this is a crucial first step in understanding your business finances.
At Palm, we also use AI to understand what most small businesses like yours are paying for their biggest business expenses and where you can save. Once you connect your accounts, we can provide you with specific opportunities to save and switch on your biggest business expenses, like insurance. We can also connect you to opportunities such as small business loans and grants, once we know more about your business type, location and current finances.
When you connect an account with us, your user data is protected with best-in-class fraud detection technology and tools like envelope encryption. We only have view access to accounts that you link to Palm and cannot move money in or out of your bank account. We also use best-in-Class authentication and authorization. You'll connect your accounts through Plaid - the same service that companies like Venmo, Acorns, and Betterment use to securely connect accounts. Your authentication process is not only seamless but also fortified with robust security protocols that safeguard your information every step of the way.
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Sign up and connect to your free Palm account today to start saving.