Tide partners with BT

Wednesday 8 November 2023 14:52 CET | News

UK-based digital business financial platform Tide has partnered with BT to support SMEs in accessing money management and saving solutions for their businesses. 

Through this collaboration, BT and Tide aim to offer the former’s 1 million small and medium-sized business (SMEs) customers access to Tide’s connected finance and admin solutions. This includes the fintech platform’s features such as invoice generation, Tide Accounting, payment and payroll services, and expense cards. The partnership also allows more than 550,000 Tide members to access discounts on selected EE phones, laptops, tablets, and SIM-only deals from BT. 

UK-based digital business financial platform Tide has partnered with BT to support SMEs in accessing money management and saving solutions for their businesses.

The partnership’s objective

BT and Tide’s collaboration comes as a response to the rising costs SMEs face when doing business, as well as to the increasing need for fast and efficient broadband and mobile connectivity to support their operations. The partnership also highlights both companies’ commitment to transform and support the SME community. In Tide’s case, the partnership enables more SMEs across the UK to leverage its integrated platform.

BT’s partnership network includes several organisations across a range of sectors, including retail, hospitality, banking, finance, and membership bodies, that intend to bring benefits to its smallest customers. The company also provides its Skills for Tomorrow programme which helped more than one million SMEs access free digital skills training, as per BT’s information. According to Tide’s officials, the integration of BT in the company’s partnership programme aims to allow SMEs to manage their banking, accounting, payroll, and credit from their Tide accounts.

Representatives from BT stated that both their company and Tide are committed to supporting SMEs navigate the current challenges and maximise their potential while unlocking discounts on BT’s business broadband and Tide’s financial solutions. To help BT’s SME customers, Tide offers cashback when they successfully open an account, as well as dedicated onboarding support. 

Tide’s latest developments and partnerships

With its operations launched in 2017, Tide intends to help SMEs save time and money in the running of their businesses by providing them with business accounts and related banking services, as well as a comprehensive suite of connected administrative solutions, including invoicing and accounting. In recent months, the company entered multiple partnerships and developed product upgrades, including one in August 2023 when it launched its improved Tide Accounting tool. Through this, Tide aimed to help more SMEs meet their accounting needs directly from their bank account.

Moreover, at the beginning of June 2023, Tide announced that it would offer its services to female-led businesses, starting by the end of 2027. Through its Women in Business content series, the company focuses on promoting gender equality by providing its suite of services to female entrepreneurs. At the time of the announcement, Tide already onboarded 100,000 female-led businesses 10 months before its 2023 end-of-year target.

In May 2023, Tide proposed to the government to introduce a new levy to fund and train more police officers to fight Britain’s fraud epidemic. After the release of the UK’s Fraud Strategy during the same month, the fintech platform stated that while it welcomed the development of a National Fraud Squad with 400 new investigators, this was not nearly enough to combat the 2.7 million scams carried out on the British public every year. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: SMEs, fintech, digital banking, e-invoicing, online banking, credit access
Categories: Banking & Fintech
Companies: BT, Tide
Countries: United Kingdom
This article is part of category

Banking & Fintech




Discover all the Company news on BT and other articles related to BT in The Paypers News, Reports, and insights on the payments and fintech industry: