BankiFi’s Post

Small businesses often fall by the wayside in banking, even being labelled as consumers if they are under a certain size. Thankfully, this is changing and more banks are offering more sophisticated resources to small businesses. Thanks to @SteveCocheo for speaking with Susan Foulds on the Small Business Banker Scorecard and sharing his insights. https://loom.ly/Uic2C7o #smallbusiness #banking #digital

In the ever-evolving world of #personalfinance, the “#infinitebanking Book” has gained traction among those seeking alternative ways to #managemoney and #buildwealth. This approach, also referred to as “Becoming Your Own Bank” or the “#BankOnYourself” method, promises to revolutionize how individuals interact with their #finances. But what exactly is infinite banking, and does it live up to the hype? In this comprehensive guide, we’ll explore the ins and outs of this #financialstrategy, its potential benefits, criticisms, and how it compares to traditional banking methods. https://lnkd.in/gcAW8gzy

As you prepare your 2025 budget - do you have all the correct business banking partners in place?

Our weekly dump of what we're up to. Next up business banking. After the rush of funding and intervention (BCR) in 2017 onwards, the SMB market has settled down a bit and aligned around a few key themes. Workflow-based services and lending hasn't gone away, as the very large "not-big-enough-for-an-FD" segment ask for support beyond just financial outcomes. Corporate banking, historically the uglier elder sibling of the business banking world has started to make bigger digital product moves - both incumbent and challenger. With failure demand (taking too much time to do basic stuff) and unnecessary errors becoming the common enemy, we're starting to see digital product mindsets increasingly make their way into designing services for even the biggest of clients. A few years ago we got asked a lot about onboarding, now it is more about servicing specific needs. For businesses of all size, cash management is more important than ever, and we're seeing a lot of focus in this area. An interface doesn't solve this, only the ability to pull a lot of moving parts together into intuitive services.

🚀 Small to medium-sized businesses (SMBs) have long been a puzzle for banks to solve. They require fast, flexible solutions that support growth. However, traditional banking models have underserved SMBs, often perceiving them as too small for tailored services, yet too diverse for scalable approaches like those applied to retail clients. 🔗The demand for financing solutions and working capital products remains high among SMBs, prompting a move toward innovative alternatives such as embedded banking. By leveraging transaction data, embedded banking offers a comprehensive view of SMBs' financial health, enabling lenders to make fast and accurate lending decisions. 🌐This transformative approach streamlines the financing process and ultimately empowers small businesses to thrive in today's dynamic economic landscape. To learn more about serving SMB customers, check out this article from PYMNTS: https://bit.ly/4ap44BG

💡 Mark Hartley, founder of BankiFi, explains why UK small businesses find themselves caught in a financial services gap and how it can be closed. In this op-ed he reveals the real challenges facing small businesses and what it will take to rethink small business banking. Read the article in full ⤵ #smallbusinesses #banking #openbanking #businessbanking #financialservices #SMEs #banks Elle Rushby Sian English https://lnkd.in/eZsuwfZJ

Want to be in control of your online financial data? This article from ABL shares the truths about Open Banking and how it can help you and your company. #Onlinebanking #Data #Business

Want to be in control of your online financial data? This article from ABL shares the truths about Open Banking and how it can help you and your company. #Onlinebanking #Data #Business

Want to be in control of your online financial data? This article from ABL shares the truths about Open Banking and how it can help you and your company. #Onlinebanking #Data #Business

Want to be in control of your online financial data? This article from ABL shares the truths about Open Banking and how it can help you and your company. #Onlinebanking #Data #Business