SUMMARY DESCRIPTION
- Digital financial services for small business
- Rapid delivery of core needs: current account opening; card; support on invoicing and accounting
- API platform to deliver further range of third party capabilities
- Back up and query handling conducted with high service focus and latest technology
OPPORTUNITY/INVESTMENT THESIS
- Technology enables small business to access distant markets and range of services
- Large banks continue to find small business banking complicated and marginally profitable – intermediation costs and capital weightings force focus on other segments
- Substantial advantage for digital player with low marginal costs to provide agile responsive service
- API platform enables assembly of relevant menu of services for small business customer
- Increasing trend to de-couple bank balance sheet with capital requirements and constraints from digital service delivery