New Open Banking platform Archie launches in the UK

By Gloria Methri

Archie, a next-generation payments and data platform, has launched in the UK to support businesses and underserved SMEs, and educate consumers on the potential of Open Banking.

Founded by Graham Nyman and Bhavesh Nayi, Archie offers experience in a jargon-heavy market, helping business owners and their customers realise the benefits of Open Banking and data sharing.

Archie’s platform enables its partners, including small and medium enterprises and larger corporations, to create consent-driven payment and data experiences. Partners can set up these journeys in minutes, without the need for any coding, and personalised to their own branding.

Small business owners can add faster and more cost-effective Open Banking payments to their existing payment methods using ‘pay by link’ and QR codes. Additionally, Archie’s end-to-end solution identifies the benefits of Open Banking data to their specific business. The firm is also committed to educating consumers about the possibilities prompted by Open Banking and data sharing.

Graham Nyman, Co-Founder, Archie, said, “Archie is all about education and accessibility, both for Britain’s businesses and their customers, for whom data unlocks a host of possibilities. With our platform, SMEs can plug in and just pay for what they use. We think of ourselves as a speedboat on the cusp of innovation, moving swiftly ahead of the game – developing, iterating, and releasing smart data products.”

Bhavesh Nayi, Co-Founder, Archie, added, “We have a passion-led, problem-solving, and innovation-driven team. We Are mentors at heart, and by background, and we are striving to illuminate society on the many benefits of Open Banking. Britain’s businesses are understandably worried about their P&L. We are providing the right tools to reduce payment costs whilst also providing data-driven insights that will help them better understand, and serve, their customers, increasing lifetime value.”