Each week we interview one of our members to find out a bit more about them and their work in the Greater Manchester digital sphere. This week we're speaking with fintech specialists, Bankifi.
What does your organisation do?
We provide technology that enables banks to help their small business customers run and operate their business more efficiently by removing mundane administrative tasks, but also help them to get paid. Our services include invoicing, book-keeping, payments and collections, saving for tax payments, submission of tax returns, cash forecasting and access to credit all delivered through a set of APIs or bank branded mobile app
What do you think is currently the biggest issue facing the tech industry?
The biggest issue facing the tech industry like any other industry is COVID-19. Having said that we feel lucky as the industry which we operate in both directly, financial services, and indirectly small business, has had the spotlight on it as a consequence. There are 6.5M businesses in the UK with less than 10 employees and this makes up 99% of all UK private companies. The government has and will need to continue to support this sector as it is the life blood of the economy. We are playing our part by helping these businesses survive and thrive by helping them collect money from their customers in a time where cash is more important than ever to a small business.
What is your organisation’s biggest achievement?
Being selected by two of the UK's biggest financial brands to power their small business banking proposition has to be up there, but also making it on to the Fintech 50 – a Europe wide watchlist for up and coming early stage companies. Our reach hasn’t stopped there as we are also working with a large New Zealand Bank, all of which is not too bad for a local Manchester firm that is less than 3 years old!
What would you consider to be your organisation’s biggest challenge?
Banks are hard to work with because of their regulated status. They often use this as the reason they move slowly. Getting them to move quickly so that they can help their small business customers using our product gives us our sense of purpose
What do you think the future looks like for Manchester’s tech sector?
Very bright! We have some of the best universities in the world with lots of great talent. It’s a great place to live for lots of well documented reasons and the city has a real buzz around it from football to music to art and all sorts of diversity!
Tell us something that we might not know about your company?
Our employees are made up of 8 different nationalities and there are more women than men – great for a software company! Our diversity makes it a fun place to work!
Want to raise your profile?
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