As female-led business represents just 20% of all new businesses in the UK2, Tide launches the Women in Business content series. Following this announcement, Tide will focus on promoting gender equality by offering its suite of services to female entrepreneurs. According to the press release, the company already onboarded 100,000 female-led businesses 10 months ahead of its 2023 end-of-year target.
Tide members are set to be directed to Mastercard’s Strive UK programme. This includes free access to training and targeted advice to overcome business challenges, such as creating a social media strategy, setting up an online shop, as well as accepting online payments.
Furthermore, customers will be enabled to build a personalised company and business action plan with the Enterprise Nation’s Make a Plan tool, access their personal board of experienced business individuals for 12 months, connect with a mentor, and get free technology advice through Be a Business. At the same time, clients can connect with experts in strategy, technology, finance, marketing, and more for 1 to 1 or small-group business mentoring through Digital Boost.
Tide had multiple partnerships and product launches in the last couple of months, covering multiple geographies.
The digital business banking platform Tide called on the government in order to introduce a new levy to fund and train more police officers to fight Britain’s fraud epidemic after the UK government released its new Fraud Strategy publication.
Tide urged ministers to adopt a series of mandates, including mandates for social media and telecoms companies that can be used to maintain records of all their advertisements and users while feeding this into Confirmation of Payee data, mandatory reporting to the police of all instances of fraud by financial institutions, mandatory investigation of all fraud by the police, mandatory payment service providers to add risk assessment data, the mandates for all financial institutions to take part in the Confirmation of Payee, as well as the introduction of an anti-fraud tax on the value chain to fund the required law enforcement capability.
Earlier in February 2023, Tide completed its acquisition of Funding Options, after the firm received the approval from the FCA. Following the acquisition, the UK-based marketplace Funding Option was set to continue to operate as a separate brand from Tide. The work underway merged Tide’s already existing credit intermediation business with Funding Options.
The addition of Funding Option’s solutions provided Tide with more than 475,000 members, which offered the new customers access to more credit options.
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