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In the spotlight with Bankifi

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?

Contact thom@manchesterdigital.com if you would like to feature your content on our site, social media or newsletter.

Explore jobs at BankiFi Technology Limited

Customer Support and Engagement

Putting banks at the heart of businessBankiFi is a technology platform designed to make business banking better, enabling banks to provide a set of integrated services - accounting, invoicing and payments - designed around the processes your customers use to run their business. We equip banks to become customer centric, rather than product centric - increasing your revenues and reducing costs while allowing your business customers to thrive.The BankiFi team has been involved in cash management and payments for a long time, so our passion to create a business banking experience that reflects the full potential and promise of open banking was evident. Combining the needs of business owners around accounting, invoicing, payments and banking from one platform: the bank.About usThe BankiFi experience is based on our own - so we build solutions that businesses can take advantage of - through the banks. Why through the bank? Because there are banks ‘that get it’, they see the opportunity in open banking and they know they have underserved the segment. We might not always love them – we trust them – still.How we're helping banksOur platform reimagines a bank’s relationship with business customers. No longer is it simply about offering products. Instead, we embed banks within their customers’ daily workflows. Whether it’s ‘order to cash’ or ‘procure to pay’, we make you part of an organisation’s core processes.Deployment optionsWe have a range of options to suit every bank.On-premise or software-as-a-service: run the platform in your own data centre or let us manage it for you in the private or public cloud of your choice.White labelled or co-branded: you can build your own customer experience on top of our business microservices or take our ready made solution and white label it as your own.Our regulatory license or yours: as we are a regulated payment institution you can also leverage our regulatory licence and at the same time utilise our end-to-end technology - meaning no technology build or integration so your service can be up and running in the shortest possible time.Ready to start a conversation and learn more?Get in touch.

BankiFi Technology Limited

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