These are the 5 FinTech solutions for your startup or SME (all available in Finnovating) that will improve your business! Finnovating, the first global Fintech collaboration platform that connects more than 70,000 startups and technology scaleups in the world with corporations and investors, can help you link with these solutions.
The pandemic has disrupted the traditional collaboration dynamics between banks and SMEs. Banks are not as willing to take risks on small business as they were in previous decades. However, this distrust has created something positive: an opportunity for a relationship between SMEs and FinTechs to arise.
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But what are FintTechs?
FinTech is a term that comes from a combination of financial and technology, and that improves and automates the delivery and use of financial services. It uses algorithms and software to improve companies’ financial services.
FinTech provides fast and modern financial services for companies, allowing them to manage their finances and providing them with better access to loans and financial solutions.
Benefits of FinTech solutions
This new relationship will play an important role in the future of small businesses and investors in general. That is why learning about this relationship is so important for everyone working in these sectors. For small businesses, everyday life can be a struggle, so it’s difficult, almost impossible, to take the time to think about FinTech solutions that will benefit your business in the long run.
Even if you’re lucky enough to spend an hour exploring, it can be a rabbit hole full of options and more confusing to get started. We understand that SMBs are busy. That’s why we’ve created our global matching platform to make it easier for you and this list of five FinTech solutions you can implement today make the best out of your business, streamline your processes, and modernize how you interact with your costumers.
1. Payment:
Online payment solutions are services that enable you to receive and make payments when integrated with your e-commerce platform. After the customer provides the credit/debit card number, expiration date, and their CVV, the payment process can begin. The implementation of Open Banking has made this process easier as the customer can proceed with the payment simply by authenticating themselves to the bank’s online platform. Essentially, an online payment gateway allows a business to accept various payments on its website, ensuring the security of both money and confidential information.
Starpay Iberia
Starpay Iberia: is a FinTech that concentrates and processes local and international mobile payments and integrates them into social networks, e-commerce and digital marketing, directly connecting merchants with their customers.
Fisapay
Fisapay:is a FinTech that complements the comprehensive payment processes of commissions, services and incentives from companies to sales forces, suppliers and independent workers through its simple, efficient and secure technology, eliminating the accounting, tax and legal risks to which they are subject. companies exposed.
Unnax
Unnax: a toolbox to build financial products and services. Their platform integrates Open Banking technologies, onboarding and identity verification, and account issuance and management, while their regulatory license allows us to act as a regulatory shield and an enabler for complex business models.
Bleam
Bleam: a B2B SaaS platform that enables frictionless payment initiation. It helps users to walk up and get any service nearby in a frictionless manner: seamlessly refuel a car, charge an EV, get a bus ticket automatically, or be authenticated for a loyalty program in a grocery store. With Bleam, services can offer themselves to customers in a flawless and quick manner.
NordMoney
NordMoney:it aims to provide services to international people and companies. They create a range of products from your card acquirer, with a focus on managing payments, expenses, travel, international transfers, based on technology and sustainability, and gain interaction between financial products and services, so that their users have the comfort and security of having a single account, with national and international services, reducing bureaucracy in the current methodology for banks and traditional companies in the market.
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Neobanks, sometimes called challenger banks, are FinTech companies, often startups, that digitally provide non-traditional banking services. These companies typically offer checking and savings accounts through mobile apps or websites and do not have branches. It’s common to find neobanks that include tools to help clients budget and reach their savings goals. Neobank customers often benefit from lower fees and higher interest rates than traditional customers. Neobanks are not a new concept as they emerged in the 2010s after the Great Recession and are gaining popularity in the US. According to data, neobanks have around 23 million customers. That number is expected to more than double to 50 million by 2025.
ID Finance/Plazo
ID Finance/Plazo: developed by ID Finance, Plazo is one of the leading financial wellness apps in Spain, offering a free Mastercard debit card which comes with one of the most attractive cashbacks in the country. Customers save money in their every day’s purchases and gain full control over their financial live. Since its launch in 2021, over 100.000 customers have opened a Plazo account.
Qonto
Qonto:Qonto provides online banking services to small businesses & startups. The platform enables clients to open an online account within five minutes, with an IBAN (International banking account number) for sending and receiving payments. It also enable users to manage their finances by providing features like unlimited history, auto-categorisation of transactions, simplified transfers entries, budgets, history exportable, etc.
Solarisbank
Solarisbank:it is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to Solarisbank’s modular services including payments and e-money, cards, lending, digital banking as well as services provided by integrated third party providers. Through this, Solarisbank creates a highly developed technological banking ecosystem for FinTechs and established digital companies, as well as banks and corporates.
N26
N26: it is a digital bank for consumers and businesses. It offers services such as deposit accounts, money transfers, bill payments, NFC-enabled debit cards for online/offline purchases, cash withdrawal, and more. It also offers tools for transaction monitoring. It offers an app-based platform that is available on iOS & Android devices.
Revolut
Revolut:it is an account for global fee-free spending, free international money transfers and instant payment notifications.
FinTechs can provides SMEs credit in two main ways: credit facilitation and crowdfunding. FintTechs make it very easy for small businesses to get business loans from existing lenders. They have also created a marketplace of crowdfunding resources, allowing consumers to invest directly in any business that calls their attention.
Crowdfunding.cl
Crowdfunding.cl: reward based crowdfunding platform, they work as a tool for SMES that need funding, they use their software to approach a massive audience with the opportunity to participate in a campaign. Each campaign has a goal, a limited time and a set of rewards to give back to people who pledge.
MytripleA
MytripleA: it is a Crowdlending P2P for Business and freelancers borrow directly from private investors. It makes possible that no good business project is left without financing and that the savings finally offer proportionate returns. It aims to creates a new line of financing concept which connect directly investment with the financing that thousands of businesses like need.
uils
uils: it provides financial solutions for mobility apps’ drivers based on an innovative driving credit score so they can purchase their own car, promoting their financial inclusion.
FundMore.ai
FundMore.ai: it is an automated underwriting system that uses machine learning (ML) to streamline the pre-funding process for loans. It was created to service mortgage lenders that do not have access to the proprietary software relied upon by large institutions. The platform allows lenders to assess many sources of data, helping them identify viable mortgages that carry less risk and have a greater opportunity for profit.
LIRIDI
LIRIDI: it is a Buy Now, Pay Later platform for small businesses, which enables emerging market entrepreneurs to purchase goods and services whenever they need them and at a fair price while paying for them later in several instalments, all with their app.
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4. Accounting:
Small businesses generally struggle to manage cash flow and track key accounting metrics. Many accounting packages are available, but many either have trouble integrating with banking software or are unable to combine banking and accounting data to gain insights. FinTechs have recognised this difficulty and have created plenty of solutions that can bridge accounting and banking systems or seamlessly allow integration between the two.
Invoicy
Invoicy:it is a unique solution for SMEs and freelancers that automatically collects, digitalises and processes all your invoices and tickets. They connect directly to your suppliers’ websites and download all your invoices automatically for you. They also collect all the invoices you receive by email and help you digitise all your paper-based tickets. All your documents will be securely stored online and automatically shared with your accountant.
Qvalia
Qvalia: it offers a platform for finance teams to automate work, digitize, and improve data management across purchase-to-pay, order-to-cash, procurement, and analytics. The platform is modular and customizable to any organization.
Yolly.io
Yolly.io: it is an all-in-one financial management platform for SMEs that incorporates the best of accounting, banking and planning tools. It helps businesses with automating time-consuming bookkeeping and financial admin work, as well as providing real-time analytics, forecasts, and advice to help with strategic decision making.
Vantek
Vantek: it is a financial digital transformation and innovation partner for Capital Markets, Brokers, Banks, FinTechs and other financial institution. With their white label financial trading platform they help these institutions to change their value proposition into a digital product.
ibylit
Ibylit: it is a FinTech platform with the mission of helping companies and financial entities to generate liquidity, payments and financing in Latin America. B2B-White Label Solutions for Supply Chain Finance such as Factoring & Confirming, Payment of Suppliers and Negotiable Invoice. They make it easy for businesses, their vendors, and their customers to gain greater control over their cash flow when they need it.
FinTechs provide excellent tools for individuals who want to manage their finances efficiently. Finance automation, bill payments, and budgeting are some of the common personal finance elements easily handled by FinTechs and startups. To simplify their monthly budgeting, individuals are choosing FinTech apps that allow bills to be paid on time and not overspend.
Rapipago
Rapipago: it is the No. 1 non-banking service in Argentina with an extensive physical network and digital channels. In its more than 9,000 Branches between Service Centers and Agents, Rapipago allows its customers to: Pay for services and taxes, with and without an invoice, in cash and with a debit card for more than 5,500 companies, Deposits and cash withdrawals, Recharges, Banking operations and Delivery and reception of elements.
Boston Asset Manager
Boston Asset Manager S.A.: it is a bussiness dedicated to manage invetments in the stock market. They operate with 7 brokers around the world.
Elifinty
Elifinty: it is a financial app that helps individuals take control of their finances and create a better tomorrow. Elifinty also helps banks reduce losses on difficult or loss making accounts and improve their customer engagement.
SPARQ
SPARQ: Unlike other personal financial management applications, SPARQ connects directly to each user’s financial experience and provides instant, real-time feedback on every financial action taken.
Pensumo
Pensumo: it performs financial inclusion through pocket technology. By getting microcontributions generated by each purchase, a supplement is generated for your future pension.
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