Three actions that help gigs and small businesses where it matters most...

As we are slowly putting our heads above ground, we see early effects on spending and the way we spend as people and businesses. Recent research clearly shows that one in five Londoners has cancelled direct debits over the last few weeks for ‘non-essential’ expenditure such as lease cars, leisure memberships, subscriptions, etc. Charities suffer equally from full cancellations that will take a lot of effort to reinstate when the ‘real economy’ veers back.

Nationwide invests in Business Management Platform BankiFi

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Nationwide invests in Business Management Platform BankiFi

Nationwide today announces it is investing in BankiFi, a business banking technology provider that uses open banking to provide a suite of business microservices which plug into banking infrastructure through APIs.
The technology means that providers like Nationwide, who will be launching its own business current account, can offer additional services to businesses as part of the account, such as accounting, invoicing, payments, VAT submission, lending and banking services.

 

BankiFi offers financial institutions solutions technology to enable their business customer with the right open banking solutions at every stage of life, throughout their entire journey: from sole-trader/self-employed, microbusiness through to SME up to large multinational corporations that have very sophisticated requirements. Banks thus become platform players or Third-Party Providers offering orchestration around their business customers’ issues: mobile, agile, fair and relevant to specific needs at a specific moment in time. 

The investment is the latest deal from the £50 million Venturing Fund set up just over a year ago, that is designed to create partnerships in which the Society and start-ups share knowledge and expertise. As part of the fund, Nationwide is making strategic investments in and partnering with early stage start-ups exploring innovative products and services that could provide real benefits for the Society’s members in the future.

Tony Prestedge, Deputy Chief Executive at Nationwide Building Society, said: “The Society continues to invest for the future. Investing in start-ups like BankiFi will help us explore new capabilities and technologies that will help deliver our technology strategy both now and in the future.

Nationwide has announced its intention to launch a business current account later this year and we are exploring how we might work with BankiFi to make additional services available for business customers. This latest investment will allow us to learn from a start-up that already has experience of the services that business want and need, while at the same time sharing our knowledge and expertise from being at the forefront of innovation for over 130 years.”

Mark Hartley, Founding Partner at BankiFi, said: “We truly believe that the value creation in Open Banking centres around the business customer. They deserve financial and banking services that are wrapped around their daily lives, offered by a robust partner that can offer continuity and a flexible approach. Banks and Building Societies can bundle our micro services into any bundle they or their customers might choose and offer it through the channel they know and use. This highly relevant experience is now possible with the latest technology, through one bank cockpit without sending the customers off to meander through a ‘jungle of apps’. Nationwide wants to ensure its business customers get access to the best technology and we look forward to working with them to explore how we might help them with their new business current account proposition.”

 

Media Information

Michelle Slade, 01793 657500 or 07725 680135, michelle.slade@nationwide.co.uk 

Eden Black, 0207 261 6217 or 07793 596317,  eden.black@nationwide.co.uk 

 

About Nationwide Building Society

Nationwide is the world's largest building society as well as one of the largest savings providers and the second largest mortgages provider in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers and members.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Conny Dorrestijn | Founding Partner BankiFi

ABOUT THE AUTHOR
Conny Dorrestijn | Founding Partner BankiFi

BankiFi’s Founding partner Conny Dorrestijn has worked in the international financial technology industry in a wide range of marketing and business development roles, most recently at Clear2Pay / FIS. She is an Advisory Board Member to Holland FinTech and AdviceRobo, Non-Executive Board Member at Arches Capital and Blanco Services and an Associate of the Digital Insurance Agenda (DIA) and the Blockchain Innovation Conference (BIC2019) and a Global Innovation Awards Judge at BAI (US) and Jury Chair of the Dutch NRC FinTech Live Awards. She is a co-host of the regular Fintech Cappuccino podcast. With inclusion across gender, age and culture high on her agenda, she is a Global Ambassador of the EWPN – European Women in Payments Network. She is an Advisory Board Member and mentor for the Money2020 Europe Rise Up programme. Her passion for generation Y and Z is translated in active student mentoring and her voluntary work for the Global Give Back Circle: www.globalgivebackcircle.org, where she is also active as a mentor for Kenyan students.

Fintech Cappuccino

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NFI Nordic Finance Innovation – Doing Digital

Event launching Chris Skinner’s latest book. Conny will present on Doing Digital with Purpose – in a new world order.

February 12, Oslo, Norway

Open Banking Excellence

A discussion on Banking as a Platform with Mark Hartley, Founding Partner BankiFi

February 20, London, UK

The SME Open Banking Revolution

An Experian / Finextra webinar – BankiFi outlines why SME need and deserve it the most and why banks can make this happen.

February 13, Finextra webinar – free registration

UK – NL Cyber & Fintech Summit

As an Anglo Dutch company BankiFi is very fit to present at this bridge building event. Topics around PSD2, Fintechs and more – free registration

February 20, The Hague, The Netherlands

Money2020 Asia

With Asia and in particular Singapore, Australia and New Zealand moving swiftly on Open Banking Conny will be at Money2020 to meet with the banks’that get it’. Please connect for a meeting: conny.dorrestijn@bankifi.com 

March 23-25, Singapore

De toekomst van het betalingsverkeer

THE national conference on the Future of payments and transaction banking is being chaired by Conny connecting banks, PSPs, merchants and corporate customers. 

April 7, Amsterdam, Netherlands

Impact ’20

Digital and business model innovation in a digital age – Conny will speak about Banking in a New World Order – with Purpose

June 3-4, Krakow, Poland

Open Banking and SCA Forum

Conny moderated and chaired this two-day event in Amsterdam,  4/5 February 2020 with an international host of banks presenting.

 

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