back Back

TSB partners with BankiFi to launch Revenu app for businesses

By Leandra Monteiro

February 17, 2022

  • BankiFi
  • Banking technology
  • North America
Share

BankiFi, TSBBanking technology platform provider, BankiFi, has partnered with TSB to launch Revenu; an app, exclusive to TSB that will allow small businesses to receive quicker payments and to better manage their business finances.

Revenu allows TSB’s business clients to collect customer payments from requests sent via SMS, WhatsApp, email and QR code. It significantly simplifies the invoice process by providing several flexible, accessible ways of receiving payment and accelerating access to working capital.

The app uses Open Banking infrastructure to allow invoices to be settled quickly and securely. In addition, the app connects to existing accounting software to streamline invoice management and liberate business owners from time-consuming financial admin – allowing SMEs to create, manage and see all invoices in one place.

On average, SMEs in the UK are owed over £6,000 in late payments. The Federation of Small Businesses also recently reported a rise in delayed payment of invoices over the past three months, meaning over 400,000 SMEs could be forced to close in 2022 – making initiatives such as Revenu even more important.

Small Business Commissioner, Liz Barclay said, “Given that small businesses tell us that they spend as much as one day a week chasing overdue invoices and delayed payments, technology and apps that help them get their invoices out, and payments in, quickly, is very welcome.

“Small businesses need to be sure about when they will get paid. Without that certainty they can’t plan, invest and grow. I hope this will be another step along the way to getting rid of the late payment culture that’s dogged the UK for decades”.

Nick Reid, Head of Sales, Europe and North America BankiFi said, “The impact of the pandemic is by no means over, especially for small businesses. That’s why we’re delighted to partner with TSB and put technology in the hands of businesses that directly addresses key challenges, such as late payments, facing the 5.5 million SMEs in the UK.

“It’s also one of the reasons we and TSB are both proud signatories to the Prompt Payment Code, committing to pay small businesses within 30 days, supporting healthy cashflow and enabling growth.”

Adeel Hyder, Business Banking Director, TSB said, “Britain’s small businesses have shown incredible resilience to brave the tough trading climate under the pandemic. By launching Revenu, we are proud to further help their recovery, and future growth.

“Our latest digital solution will provide a vital boost to cashflow, while equipping customers with essential business management tools – at a time when these hard-working businesses need support the most.”

Previous Article

February 16, 2022

Matt Cockayne joins Nucoro to scale its commercial function rapidly

Read More
Next Article

February 17, 2022

Edgewater Markets partners with OpenFin to extend FX Trading

Read More










IBSi Daily News Analysis

FinTech, future, trends

December 08, 2022

BankiFi

Here’s how the FinTech landscape looks like for 2023

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 08, 2022

Worldline brings Express Transit for Apple Pay to France

Read More

December 08, 2022

AvidXchange and Wise partner to expand International Payments capabilities

Read More

December 08, 2022

Swiss Digital Bank Alpian goes live on Temenos Banking Cloud

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022