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POWERED BY SIGNMESH
23
SIGNS OF
FINTECH
WINNING
OVER SME
SWIPE
POWERED BY SIGNMESH
FINTECHS ARE CAPTURING
THE SME MARKET WITH
TAILORED OFFERINGS.
WE SHARE 23 SIGNS OF
THE BEST SME BANK
FEATURES OUT THERE.
SWIPEPOWERED BY SIGNMESH
CHAPTER
OVERVIEW
N E W BA N K I N G F E AT U R E S . . . . . . . . . . . . . 04
SIMPLIFIED BANKING . . . . . . . . . . . . . . . 10
BEYOND BANKING . . . . . . . . . . . . . . . . . 16
VALUE-DRIVEN PARTNERSHIPS . . . . . . . . . 23
MASS MEDIA ADVERTISING . . . . . . . . . . . 29
SWIPEPOWERED BY SIGNMESH
NEW
BANKING
FEATURES
SWIPEP5 23 SIGNS OF FINTECH WINNING OVER SME
1/23 —
N26, a Berlin based online bank, launched
N26 BUSINESS N26 Business Black for freelancers and
BLACK FOR self-employed people.
FREELANCERS The aim of N26 Business Black, the banks
premium business account, is for freelancers
to manage their money in a safe way, re-
invest their costs back into their business and
make their work trips safer and easier. It
includes a travel insurance, as well as one for
business tools, such as laptops and other
work devices. In the account, it is possible to
have up to ten sub-accounts, so-called
„Spaces“, which can be used for reasons, such
as travel costs, taxes, business meeting or
whatever else the account owner needs it for.
When withdrawing money from an ATM
abroad, there accrue no extra fees.
Furthermore for every purchase made with
the Mastercard coming with the account, the
owner receives 0,1% cash back, which are
directly transferred to the account every
business quarter.P6 23 SIGNS OF FINTECH WINNING OVER SME
2/23 —
Britain’s challenger bank launches
MONZO’S business accounts after a successful 12
NEW months trial.
BUSINESS Monzo has now launched business
accounts for sole traders and SMEs,
ACCOUNTS offering a free version (similar features to
regular private banking accounts) and a
paid “Business Pro” version that comes
with a range of business tools for £5 per
month. Both versions will be accessible via
App or Web from the get go. The Business
Pro account will provide the following:
Money Pots, Integrated Accounting,
Multi-User Access, Invoicing, Exclusive
Offers.
While many banks in Britain provide free
banking services, Monzo argues that the
nominal fee far outweighs the costs of
having to use alternative solutions to fulfil
the same tasks.P7 23 SIGNS OF FINTECH WINNING OVER SME
3/23 —
UK’s challenger bank now supports two
REVOLUT new features for their Business customers,
SUPPORTS saving their users time and money.
MULTI The multi-business account allows users to
seamlessly manage multiple Revolut
ACCOUNTS & Business accounts. It is available for both:
GOOGLE PAY freelancers and company accounts. With a
single login, users are able to access all of
their Revolut Business accounts, saving
time and hassle.
Business users can also set up all of their
Revolut cards on both Apple Pay and Google
Pay for physical and virtual options.P8 23 SIGNS OF FINTECH WINNING OVER SME
4/23 —
bunq’s latest update now allows Dutch
BUNQ SMEs to attach multiple trade names to
ENABLES their business accounts.
TRADE NAMES In an attempt to help small businesses
create a more legitimate presence within
FOR BUSINESS its value chain, bunq now allows business
ACCOUNTS account holders, only in The Netherlands
for now, to insert multiple trading names
to their accounts. Users are now able to
choose under which business name they
send invoices to and / or make payment to.
The idea behind this is based on the
insight that many entrepreneurs have
multiple small businesses and many lose
credibility with their clients / suppliers
when their trading names don’t match
their bank accounts. This solution
(Update 13) now allows SMEs to create a
more trustworthy presence amongst their
value chain, and also facilitates accounting
as now each invoice is easily traceable to a
specific business unit.P9 23 SIGNS OF FINTECH WINNING OVER SME
5/23 —
UK fintech SumUp has launched a
SUMUP MasterCard-backed payment card for
LAUNCHES small businesses.
SUMUP CARD London-based fintech SumUp, which
enables small businesses to accept card
FOR BUSINESS payments both online and using its card
reader devices, is now launching a pre-
paid card for small enterprises. The
SumUp Card will allow merchants to
access money earned through SumUp
more rapidly due to the fact that they will
no longer need to wait for their money to
first be transferred to a third-party bank
account. The SumUp card supports online,
contactless and chip-and-pin payments
and is currently available in the UK, France,
and Italy, with further rollouts to follow in
the coming 12 months.
The company hopes that the card will
facilitate better cash flow for small
businesses. Benefits include next-day-
payouts and low FX rates.POWERED BY SIGNMESH
SIMPLIFIED
BANKING
SWIPEP 11 23 SIGNS OF FINTECH WINNING OVER SME
6/23 —
Kontist is offering an automated
KONTIST solution using a service from fin leap
SIMPLIFIES connect to make the switch of business
accounts as easy as possible.
ACCOUNT
The new feature offers a secure transfer of
SWITCH FOR business accounts in less time and with a
FREELANCERS completely automated process. The goal
of Kontist is to get as many freelancers to
use their platform as their primary bank
connection. Next to the migration of
payment details like contacts, direct debits
and standing orders, the service also
provides an easy option to terminate their
current bank connection.
The Kontist business account supports the
management of business finances by
automatically calculating VAT and income
tax based on user data and reporting it in
separate sub-accounts.P 12 23 SIGNS OF FINTECH WINNING OVER SME
7/23 —
The new direct debit feature will allow
PENTA one-off and recurring debits from the
INTRODUCES Penta account and will be tested as a
pilot project with a limited number of
DIRECT DEBIT Penta enthusiasts.
TO BUSINESS Premium account holders can now collect
CUSTOMERS payments up to a total of €10,000 per
month. Direct debit is the most
widespread method in Germany for all
cashless payments with around 47% of all
transactions. Customers can participate by
registering with Penta and join the waiting
list to get access and try the new feature.
As soon as customers have registered,
Penta is asking them to pay a small
deposit. They do this because direct debit
procedure gives the opportunity to claim
money back up to 8 weeks after
customers have been debited from a
business account.P 13 23 SIGNS OF FINTECH WINNING OVER SME
8/23 —
For businesses the billing of wages can be
PENTA’S BULK inefficient and time-consuming, which
TRANSFERS has led Penta to introduce bulk transfers.
SIMPLIFY With Penta’s bulk payments, you can make
numerous individual transfers at once via
PAYROLL the Penta business account. Instead of
confirming every single payment with a
single TAN / SMS, this is now possible with a
single verification.The function enables their
customers to upload standardized
SEPA .XML payment files, which can be
used directly with their preferred
accounting tool, such as Lexoffice.
Soon the number will be increased from 50
to 1000 payments. In addition, the payroll
provider will also be able to integrate their
payroll software into the Penta account and
upload the files directly.P 14 23 SIGNS OF FINTECH WINNING OVER SME
9/23 —
The British FinTech makes loan
STARLING applications easier and increases loan
BANK SUPER- and overdraft values to all-time highs.
CHARGES SME Starling has just launched new features to
help its SME and sole trader customers get
LOANS access to greater cash flow with less
hassles. These features now allow
businesses to receive unsecured loans up
to £250,000, and overdraft amounts are
raised from £10,000 up to £150,000 with
fees starting from 5% only.
Adding to these financial aids, Starling has
now launched a new paid-for Business
Toolkit that will include invoice tracking,
cash-flow management, and a tax and
VAT calculator, with the option to submit
VAT returns through HMRC compliant
software. Customers need to apply for the
Business Toolkit by registering on a
waiting list, of which the first 500
customers will receive the software free of
charge for the next 5 years.P 15 23 SIGNS OF FINTECH WINNING OVER SME
10/23 —
Klarna’s "Boost" provides simple and
KLARNA straightforward financing options to
LAUNCHES meet small to medium merchants' needs.
BOOST TO Klarna has announced its new feature to
help SMEs with any last minute needs such
HELP SME’S as extra staffing, building a new website or
TO THRIVE running a marketing campaign. Klarna
enables SMEs to apply for a cash advance
through a quick, easy to navigate and
transparent process built into their pre-
existing app. Users of the offering can
request a loan within a few minutes
through the “Boost” section of the Klarna
app. The merchant can specify the amount
required for the loan, how quick they intend
to repay and the funds are made available
almost as soon as the next day. This is all
completed without the need to complete a
lengthy questionnaire or the completion of
collateral agreements.POWERED BY SIGNMESH
BEYOND
BANKING
SWIPEP 17 23 SIGNS OF FINTECH WINNING OVER SME
11/23 —
The new app tells you if something is
ANNA expendable before business owners buy it.
RELEASES “Can I Expense It?” is designed to make the
EXPENSE life of business owners easier in regards to
their business expenses. With the help of the
DETECTION camera viewfinder “Can I Expense It?”
APP recognizes items business owners want to
expense. The app supports a on-the-go
accountancy advice and lets you know
immediately if things can be expensed or not.
The team around ANNA used the technology
of Google’s Emoji Scavenger which detects
real life objects with the phone camera.
ANNA combines object recognition and
machine learning with an easy to use
interface and most importantly added value
expense advice. The app was created for fun
but all the information given is accurate.P 18 23 SIGNS OF FINTECH WINNING OVER SME
12/23 —
Starling adds Molo, UnderPinned, and
NEW SERVICES PayStream to its Business Marketplace.
FOR STARLING In an aim to provide more relevant services
SME & to its 100 000+ customers, the digital bank
now hosts a total of 24 third-party services
FREELANCE tailored to SMEs in its Business
CLIENTS Marketplace. The latest 3 features are
highlighted below:
Molo: An online buy-to-let mortgage
lender that streamlines the application
process, helping home buyers get the
home of their dream easier and faster.
UnderPinned: A virtual office for
freelancers that offers various digital tools
to facilitate productivity and growth like e-
contract, proposal and portfolio templates.
PayStream: an IR35 review service that
ensures companies remain up-to-date on
the latest tax rules, ensuring their tax filing
meets the latest requirements.P 19 23 SIGNS OF FINTECH WINNING OVER SME
13/23 —
Berlin fintech company now lets
KONTIST freelancers update their tax prepayments
INTRODUCES on real time sales.
ADJUSTABLE The innovation, deemed a global first in the
global tax accounting landscape, enables
TAX the self-employed and freelancers to adjust
PREPAYMENTS their tax prepayment calculations as the year
goes by, helping them maintain healthy cash
liquidity throughout the year. Users who have
accounts on the Kontist app can now
automatically resubmit their tax figures
digitally, if they have been set too high or too
low, by directly connecting to their local tax
office via third-party software Elster.
Kontist’s in-app tax calculator also provides
users with real-time insights into their
available resources, helping them to better
see how much available cash they have.P 20 23 SIGNS OF FINTECH WINNING OVER SME
14/23 —
Mettle invoicing tool lets users create,
SMART edit, preview and send invoices on the
INVOICING go using only their smartphone.
WITH METTLE The new product coming from UK’s
business account matches outstanding
invoices with incoming payments and
helps out in the handling of partial or over
payments on a single invoice. Users can
also add different VAT rates and make
them inclusive in the price that’s
calculated for them. Other features
include adding own logos, creating invoice
numbers, amending dates and adding
notes to the invoice.
Mettle made sure to create invoicing
features together with their customers
that seem to have similar problems with
finding right tools, keeping on top of what
has already been invoiced and what still
needs to be, and most importantly:
managing the invoicing clutter.P 21 23 SIGNS OF FINTECH WINNING OVER SME
15/23 —
The Berlin-based fintech company Kontist
KONTIST offers self-employed entrepreneurs of all
LAUNCHES industries support during the corona crisis
and takes concrete actions to ensure the
TOOL FOR solvency of its users.
TAX RELIEF During the corona crisis, it is particularly
important for self employed people to secure
the liquidity of their businesses. To help the
entrepreneurs, Kontist and the associated
Kontist Foundation have called for a
voluntary hackathon. As a result of this
initiative, an online tool was developed with
which freelancers from all industries can
apply for immediate tax relief. The application
enables self-employed people to defer tax
payments that were due in the past years
with just a few clicks - without incurring any
interest or fees. In addition, the amount of tax
advance payments that are usually due on a
quarterly basis can be adjusted as required
and suspended if necessary.P 22 23 SIGNS OF FINTECH WINNING OVER SME
16/23 —
Crowdz is a blockchain-based invoice
FINTECH exchange fintech that is designed to
LAUNCHES help SME’s thrive by increasing their
access to cash flow.
BLOCKCHAIN-
Start-up Crowdz has launched a private
POWERED pilot for the world's first invoice financing
INVOICE marketplace, InvoiceXchange. The
platform enables SMEs to get funded
EXCHANGE faster by submitting invoices for bank or
investor financing without the need to
submit complex paperwork. Built on
blockchain technology, InvoiceXchange
tackles challenges such as KYC, AML title
ownership to maintain a fully-transparent,
single source of truth to pre-vetted
funders, while enabling SMEs to receive
offers for financing at competitive rates.
An estimated 93% of all supply chain
participants are SMEs, with half of these
suffering from cash flow shortages.
Crowdz aims to solve this problem by
directing low-cost financing to SMEs while
offering high return rates to investors.POWERED BY SIGNMESH
VALUE-DRIVEN
PARTNERSHIPS
SWIPEP 24 23 SIGNS OF FINTECH WINNING OVER SME
17/23 —
Monzo and Starling integrated a
FINTECHS’ gambling block feature into their apps
GAMBLING- and show that banks can also provide
help in terms of mental health issues.
BLOCK
The challenger banks Monzo and Starling
FEATURES both integrated an optional gambling
block mode into their apps. After enabling
it, users have to wait for two whole days to
turn it off again and cannot spend money
on online betting sites or bookmakers.
Starling integrated the feature after a
customer contacted it while Monzo had
the idea after talking to the charity Money
and Mental Health. The aim is to make it
harder to spend money in times of poor
mental health as a survey by Money and
Mental Health shows that people spend
way more money in those periods. Money
and Mental Health works on standards for
the financial industry and also has a
wishlist of features it wants banks to
include in their apps.P 25 23 SIGNS OF FINTECH WINNING OVER SME
18/23 —
Faster, cheaper transactions between
GIGABLE & companies and gig workers.
REVOLUT Gigable, an Irish marketplace for gig
JOIN FORCES workers with over 7000 users has recently
partnered with Revolut to facilitate
payments between gig workers and the
contracting companies. The new
integration is a push towards the gig
economy who have up till now struggled
to make transactions easy and cost-
effective for both parties. The service will
enable companies to pay freelancers
instantly, even on weekends and public
holidays. This innovation, which is free of
charge, is said to reduce administration
time by up to 80%, adding a further cost
saving for companies who have many gig
workers on payroll.P 26 23 SIGNS OF FINTECH WINNING OVER SME
19/23 —
TrueLayer’s new payments integration
TRUELAYER & enables ANNA’s customers to receive
ANNA money in their app using QR codes.
MONEY’S TrueLayer is the leading provider of
banking APIs. With their new product,
PAYMENTS businesses will be able to replace their
WITH QR payment terminals and bank cards or any
intermediaries in favor of the QR code
CODES solution. This will allow SMEs to
streamline their payments, reduce the
cost of transactions and speed of
transfers. ANNA (providing business
accounts, invoicing and tax support) will
provide their customers the speed and
stability they need in order to focus on their
business more. According to Irakli Agladze,
Head of Open banking at ANNA Money, “It's
so much easier for business owners who
want to get paid on the spot to use their
ANNA app immediately rather than going
back to their desks, sending some invoices
then chasing them afterwards.”P 27 23 SIGNS OF FINTECH WINNING OVER SME
20/23 —
FYRST has partnered with Bibby, making
FYRST’S sure their SME customers or start-ups
BUSINESS with outstanding receivables have their
cash flow secured.
FACTORING
Business customers of the FYRST bank in
SOLUTION Germany, can sign up for a 6- or 12-month
factoring solution from Bibby which can
be terminated anytime within the first 3
months of contract. Among other
benefits, FYRST customers receive a 50%
discount on the set-up fee and the
default risk of the claim is taken care of
by the service provider. The bank
promises this solution will not affect the
user’s credit rating.P 28 23 SIGNS OF FINTECH WINNING OVER SME
21/23 —
Starling, the leading mobile-based bank
STARLING ADD in the UK has partnered with two
SECURITY- companies to offer its SME customers
greater security for their digital
SPECIALIZED businesses.
PARTNERS TO Starling bank continues to expand its
MARKETPLACE marketplace with two newcomers. One
is Digital Risks, an SME insurtech
business, and the other is CyberSmart, a
cybersecurity platform for business
customers. These two new services are
now available to Starling's customers at no
additional cost, and help them to have a
more centralized hub for managing more
of their business admin. Digital Risks
enables businesses to purchase insurance
directly through the app, with cover
available for commercial legal protection,
cybersecurity, management liability,
employers liability, public liability, and
professional indemnity. They offer flexible,
monthly subscriptions that be cancelled at
any time.POWERED BY SIGNMESH
MASS MEDIA
ADVERTISING
SWIPEP 30 23 SIGNS OF FINTECH WINNING OVER SME
22/23 —
The support of Starling Bank allows
STARLING Team GB to fund its objective of taking
SPONSORS athletes and sports to the summer and
winter editions of the Olympic Games.
TEAM GREAT
Starling bank will be kick-starting a
BRITAIN campaign for their customers over the
next months to increase the feeling of
community that the Olympic Games
stand for. The partnership emphasizes
Starling Bank’s winner mentality and
customer experience focus which they
share with the British Olympic
Association.
Starling bank will also offer each athlete
a Starling retail account with £100
deposited to help them achieve their
next financial goal.P 31 23 SIGNS OF FINTECH WINNING OVER SME
23/23 —
The UK’s leading digital bank focuses its
STARLING’S new SME campaign on growing its
NEW ADS business banking customer base.
CELEBRATE The campaign ranges from TV, radio and
outdoor formats and is the first campaign
BUSINESS together with their new agencies
OWNERS Wonderhood Studios and media agency
Bountiful Cow. The story of the campaign
is aiming to do something different and
authentic, which should inspire and
encourage SMEs to be more courageous
in their business endeavors.
The 60 second TV spot “Helping Business
Fly” should bring that to life. It depicts the
journey of business owners starting their
business and trying to succeed. The
campaign was running on major channels
in the UK.POWERED BY SIGNMESH
FROM INSTANT-PAYMENT OPTIONS TO
ADJUSTABLE TAX CALCULATORS,
FINTECHS ARE BECOMING THE
PARTNERS OF CHOICE FOR SME.
LEGACY BANKS WILL NEED TO
QUICKLY FIND SOLUTIONS FINTECHS
CAN’T OFFER OR RISK LOSING THE
SME MARKET FOR GOOD.
SWIPEMEET LHBS
FAST_TRACK
SWIPEP 34
RETURN ON INNOVATION
DONE SMART. FAST_TRACK.
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BUSINESS SOLUTIONS TO LIFE, FAST.
We explore, refine, validate, and scale business opportunities quickly,
independently, and package our service around your unique needs.
LEARN MORE AT
WWW.LHBS.COM/FAST_TRACK
Adrian Kreiskott Tom Courly
Fast_Track Lead Fast_Track Lead
ak@lhbs.com tc@lhbs.com
+49 171 317 9595 +49 151 6886 3055P 35
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