Bankifi launches Go Get Paid service

The new product was designed for sole traders, merchants, and small businesses, in order to provide them with services aimed to improve their overall performance and security. 

With the features offered by if Agency, which focused on naming, branding, and creating the launch for the Go Get Paid application, BankiFi will use this app to make the process of transactions and payments more seamless, fast, and safe for all of its clients. 

BankFi’s partnerships and strategy for development

Recently, BankiFi has appeared in one of the `Voice of the industry` articles, published by The Paypers in February of 2023. The publication researched and analysed the most important partnerships that defined and built resilience in the fintech zone in Q4 2022, targeting industries from Open Banking to A2A, embedded finance, and all the strategic decisioning in the between. 

BankiFi was mentioned as a financial institution that made relevant partnerships within the US banking community, such as the collaboration with Axiom Bank or the deal with Open Finance company MX,  both focused on the security and development of SMEs. 

BankiFi collaborated with financial institution Axiom Bank in October of 2022. This deal was made for the companies to join forces in order to make banking better for small-to-medium size businesses (SMBs) across the United States. 

Following this partnership, Axiom Bank’s SMB customers and client base were able to better track and manage their business finances using BankiFi’s embedded banking services. The Open Cash Management platform provided by BankiFi was built with speed in mind, as well as the protection of its clients. The system managed to put Axiom Bank and its associated digital channel in an improved connection with its users. 

The Open Cash Management platform is a product that can be integrated with accounting packages popular across the US, such as XERO and QuickBooks. The system also can handle the collection, matching, and reconciliation of invoice payments submitted through various payment networks fast.

Before this collaboration, BankiFi secured USD 4,8 million in funding. According to the press release published at the time, community financial institutions in the US faced threats from fintech companies, national banks, financial institutions, and accounting package vendors that were offering their suite of payment services to SMBs. 

The funding was used in BankiFi’s strategy to help SMEs by partnering with financial institutions while providing technology designed to make businesses’ banking processes better. The company continued its global expansion, with a focus on North America following its establishment of a US office.