BankStore.ai will formally launch its free Bank Index at Money20/20 USA, October 18–21 in Las Vegas, introducing a new way for businesses to navigate one of their most consequential decisions: where to bank. A first version is already available at BankIndex.io.

Businesses should be able to learn where they stand before they spend weeks applying.”

For a company expanding into a new market, the wrong banking application can mean weeks of paperwork followed by a refusal.

Bank Index aims to replace that costly guesswork with accessible information about banks, account providers and other financial institutions.

Businesses can explore providers by their needs and assess potential fit before committing time to an application. Banks and account providers are scored from 0 to 10 on needs such as fast onboarding, owners living abroad, fees, cross-border payments and crypto, and the index is free to use without an account.

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According to BankStore, the index currently lists more than 144,000 institutions, including about 44,000 banks and account providers and about 100,000 other financial institutions, with new entries added daily. The company describes the free Index as a way to put knowledge traditionally held by specialist advisers directly into the hands of founders and finance teams. The live site ranks institutions on the needs of a business and, for reviewed profiles, shows the reasons and sources behind each score.

“We spent years drawing the same map for clients: which institutions serve a particular market, what they require and where an application is likely to run into trouble,” says Denys Bets, CEO and co-founder.

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