BankFi, an embedded banking solutions provider, has expanded into the North America market with the launch of BankFi Americas.
According to BankFi, the organisation’s growth and expansion into the US market will support the unique digitisation and payment modernisation requirements of SMBs, while placing financial institutions at the heart of the relationship.
Through BankFi’s open cash management platform and architecture, financial institutions are able to embed a flexible solution that can be tailored to address the unique segments of their small business portfolio.
The platform, the firm claims, addresses critical SMB requirements through digital workflows that collect payments faster, automate data integration with accounting platforms and provide comprehensive insights to optimise working capital.
With BankiFi’s open cash management platform and architecture, financial institutions can embed a flexible solution that can be tailored to address the unique segments of their small business portfolio. The platform addresses critical SMB requirements through digital workflows that collect payments faster, automate data integration with accounting platforms, and provide comprehensive insights to optimise working capital.
BankFi CEO and founder Mark Hartley said, “SMBs in the US are facing the same problems we’ve seen in the U.K. and Australia, including late payments and time delays due to financial administration. Within our technology, we aim to transform services available to SMBs within community banking, across the US.”
Keith Riddle – CEO of BankFi Americas – added, “I’ve been following BankiFi’s incredible success in partnering with financial institutions to serve SMBs in the UK and realized the importance of enabling a comprehensive open cash management solution for financial institutions and their SMBs within the U. I’m delighted to take the reins at BankiFi US and build on what the UK team is doing in terms of digitising the critical small business workflows and embedding the solution within financial institutions’ digital channels, in what is certainly an exciting time for the sector.”
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