Manchester-based embedded banking solutions provider BankiFi has announced its expansion into North America.
Following its launch in Australia last year, BankiFi has unveiled BankiFi Americas, as it hunts for digitisation and payment action with SMEs.
“SMBs in the US are facing the same problems we’ve seen in the UK and Australia, including late payments and time delays due to financial administration,” explains Mark Hartley, CEO and Founder of BankiFi.
The fintech company offers an open cash management platform and architecture. SMEs (or SMBs if Hartley insists) can use its services to collect payments, automate data integration with accounting platforms and provide insights.
Keith Riddle has been appointed to lead BankiFi Americas. He has more than 35 years of experience in the financial industry, and his career spans executive roles at Sherpa Technologies and several firms specialising in digital banking, bill presentment and payment, EFT processing services, wholesale financial services and cloud computing.
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BankiFi is doing pretty well and has been active in the UK.
In February it partnered with TSB to launch the Revenu app for small businesses.
The app is exclusive to TSB and will allow small businesses to collect customer payments from requests sent via SMS, WhatsApp, email and QR code.
There are about 5.5 million SMEs in the UK with fintech firms and banks constantly trying to stand out in a very competitive market.
Prior to that, BankiFi announced a co-development deal with the Co-operative Bank. This will see the bank invest an initial £500,000 with the funding to be used to co-develop a range of products for the SME market, with the initial focus being on cash management.
