UK-based financial solutions provider multifi has joined forces with GoCardless to provide SMEs with improved credit options.
As part of this collaboration, GoCardless’s Direct Debit capability is set to be integrated directly into the multifi platform, in turn delivering an optimal repayment process and simplifying how businesses manage their cash flow and grow their operations.
The partnership comes just a few days after FreeAgent embedded GoCardless tools for more efficient payments, with the move building on an existing alliance between the two companies. FreeAgent users were set to be able to merge one-off payments through Instant Bank Pay with existing recurring Direct Debit functionality, providing a more simplified approach to collecting payments across various billing scenarios.
Serving the needs of UK businesses
The collaboration with GoCardless seeks to improve multifi’s credit products, facilitating custom solutions for both new and established businesses. Additionally, it offers extended repayment flexibility and a dual-tier structure developed to support businesses, regardless of their growth stage. At the same time, the process is augmented with optimal current account integration and automated repayment calculations, making managing finances more efficient.
Furthermore, commenting on the news, representatives from GoCardless emphasised that, by leveraging Direct Debit, multifi customers can benefit from an improved repayment process, with transactions being made on time. The regular and predictable nature of these repayments can also augment their cash flow management, in turn scaling the efficacy of their operations. Mentioning the partnership, multifi officials highlighted that, with these improvements, their company can advance its commitment to facilitate a straightforward business finance product in the market. By extending its repayment terms and launching a more flexible payment structure, multifi aims to provide its broker partners with a more compelling product to present to their clients. Currently, the company offers unsecured business loans, revolving credit facilities, and business current accounts with integrated credit options, utilising advanced technologies.
