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Co-op Bank and BankiFi work together to support SMEs

Thursday 2 December 2021 12:13 CET | News

UK-based Co-operative Bank has announced a GBP 500,000 investment in local fintech BankiFi to improve banks’ offering in the SME market.

After launching two projects – an SME mobile banking service and a new Request to pay (RTP) app in collaboration with BankiFi, Co-Op bank has agreed to pour another half of million GBP in the further development of the SME market, focusing on cash management. 

As per the agreement, the Co-op Bank will be the first to benefit from the new products developed by BankiFi before them being available for banks across the world. 

The fintech also secured GBP 2.2 million funding from Praetura Ventures and the Greater Manchester Combined Authority that will further dive into the SME market, allowing them to manage invoices, receive payments, and link their accounting software for better integration and higher customer reach.

Source: Link


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Keywords: product launch, online payments, online banking, funding, SMEs
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
This article is part of category

Banking & Fintech