Launching a startup reciprocal isn’t just about building a new kind of insurance organization. It’s about building trust. Reciprocals thrive on transparency and member ownership, where policyholders share in both the risks and rewards. But with that model comes an immediate challenge: operating with the same financial discipline, audit readiness, and regulatory compliance as larger…
Overview: Why Reconciliations Matter More Than Ever For banks and credit unions, reconciliations are the backbone of financial accuracy and trust. Every day, finance teams reconcile a web of accounts including deposits, payments, suspense, and settlement activity to ensure every transaction ties to the ledger. While it may seem like a back-office process, reconciliation is…
We’re excited to share a major milestone in Flexi’s journey. Flexi Software has received a strategic investment from Quality Standard, a long-term partner that shares our vision for building exceptional technology and serving customers with care. This investment marks a new chapter in our growth. It strengthens our ability to innovate, support our clients, and…
The wave of tariff changes is sweeping across the insurance industry. For insurers, the change isn’t just about absorbing costs—it’s about adapting their financial systems to weather a volatile economic landscape.
The insurance industry’s profitability has been turbulent in the last few years due to inflation and extreme weather-related losses. And with tariff changes, costs are expected to rise even more. Private insurers are under increasing pressure to streamline operations and reduce costs to adapt to the rapid pace of change and prevent further impacting customers…
Single-Provider vs. Best-of-Breed ERP: Which is the Right Solution For You? When it comes to choosing the right ERP system, financial services companies face an important decision: go with a single-provider platform that offers everything under one roof, or a best-of-breed approach that selects the top solution for each specific need. Both strategies have their…
Why Modern Accounting Systems Are Essential for the Future of Banking M&A Since 2018, credit unions have been increasingly active in acquiring banks, peaking in 2024 with 22 credit union acquisitions, up from the previous high of 16 in 2022. While the overall number of credit union mergers has decreased compared to the previous decade,…
California Wildfires: Why Insurance Companies Need Strong Financial Controls More Than Ever California has faced devastating wildfires over the years, with the most recent Los Angeles wildfires in January 2025 causing widespread destruction, loss of life, and financial losses for residents. These disasters have placed immense pressure on the state’s insurance system, increasing the need…
How Accounting Software Plays a Crucial Role in Transforming Back-Office Systems for Banks and Credit Unions In today’s fast-paced financial landscape, the back office is no longer just a support function—it’s the backbone of every strategic decision, regulatory compliance effort, and customer interaction. Yet many accounting leaders in banks and credit unions are navigating this…
Why Flexi is the Ideal Accounting Solution for Insurance Companies We understand that the accounting software landscape can be overwhelming. One of the first questions we get asked is, “what makes Flexi different from other accounting software providers?” Flexi stands out from other accounting software providers for many reasons. For the insurance industry specifically, some…
Modernizing Accounting for Banks: Why It’s a Must As a finance or accounting professional in the banking industry, you are tasked with navigating a complex and highly regulated financial environment. From ensuring compliance with stringent standards to providing timely and accurate financial reporting, your role is pivotal in driving the bank’s success. However, outdated accounting…
The Importance of Modernizing Accounting for Credit Unions As an accounting professional in the credit union industry, you understand the unique challenges that come with managing finances for member-centric organizations. From maintaining regulatory compliance to providing accurate financial reporting, your role is integral to the health of your credit union. Yet, many credit unions are…