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IRIS adds embedded finance with UNIPaaS

Tuesday 15 March 2022 14:41 CET | News

IRIS Software Group has partnered with UNIPaaS, bringing its embedded finance solutions platform to SMEs, according to enterprisetimes.co.uk

UNIPaaS offers several products that organisations can embed. It includes onboarding, global payments both in and out, and vendor accounts. Iris talks about bringing embedded finance to SMEs. However, it does not elaborate on which of its solutions it will embed UNIPaaS into first, IRIS KashFlow, IRIS Financials, IRIS Practice Essentials or something else.

ERP and accounting vendors will often embed analytics solutions, but few have embedded finance solutions, preferring to integrate with them. The UNIPaaS solution is designed to be embedded and delivers several advantages for a business that will adopt it.

Using UNIPaaS, SMEs can improve their cash flow through faster payments. The National Federation of Self Employed & Small Businesses claims a third of UK-based SMEs face cashflow challenges. With the embedded finance solution in place, several key processes become automated. It eliminates potential manual errors and ultimately helps companies grow. IRIS believes that SMEs can increase revenue by up to 2.5 times with access to financial services.


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Keywords: partnership, embedded finance, Open Banking
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
This article is part of category

Banking & Fintech