The idea behind the partnership is to offer a platform within the app itself or logged-in area of the banks so that the entrepreneur can see information related to the financial management of his business.
Within home banking the app will have a customisable part with data such as cash predictability and cost control for achieving certain goals, according to Visa staff. The bank would reportedly pay to have the platform.
Celero pointed out that the technology platform has been on the market since 2016, but the idea of focusing on controlling the finances of SMEs in partnership with Visa came from Open Banking.
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