UK-based fintech company BankiFi has announced its partnership with Financielle to launch a new playbook for SMEs, aimed to improve their business management. The playbook was designed to offer small and medium-sized enterprises the needed support in the process of tackling some of the most common problems associated with the SME management.

Both companies used their experience and solutions in order to incorporate insights and data analytics which can offer SMEs the opportunity to reduce the time and costs that come with managing and expanding their organisations. The playbook examines a couple of challenges and difficulties that exist across the business finance administration and provides customers with advice on how these issues can be solved in an efficient and secure way. One of the examples given in the press release is the problem of document assessments that continued the issue of late payments to SMEs, which also affects the cash flow for the companies.

Furthermore, the product was written with female founders in mind, as one of the priorities of the service is to enable female owners to improve their companies faster and more seamlessly. As the industry of SMEs progresses, the playbook provides these business owners with valuable tips on how to move past challenges and grow in the system. BankiFi’s strategy in the SME industry The embedded banking service provider for SMEs BankiFi had multiple product launches and partnerships in the past couple of months, covering several geographies.

At the beginning of March 2023, BankiFi announced its partnership with the RedCompass Labs company, in order to release a new whitepaper. The report was called `SME Banking Channels: Converting a money pit into a business opportunity` and it focused on the challenges financial institutions and banks face when they want to provide digital solutions and how they can improve their delivery technology for making their services more efficient and secure for their clients. The whitepaper offered an overview of the way most of SMBs initially look at their financial institutions when it comes to accounting and payment tools, while banks are unable or unwilling to provide tools that are collaborating with third-party services.

The publication also revealed that about 30% of small and medium-sized businesses will choose third-party providers instead of banks, including their preferences regarding Open Banking services. Earlier in February 2023, BankiFi launched its new Go Get Paid service in partnership with if Agency. The product was designed for sole traders, merchants, and small companies, in order to offer them services aimed to improve their overall performance and security.

With the added features provided by if Agency, which focused on naming, branding, and creating the launch of the application, BankiFi used this app to make the process of transactions and payments faster, safer, and more seamless for all of its users and customers. .