PAYMENT SOLUTIONS

therefore , banks that provide products to large-scale businesses won ’ t necessarily be a good fit . Rather , fintechs are generally more suited to helping small businesses because they offer innovative products such as cashflow forecasting , says Straathof , noting that Tide , Xero and Nuula provide cashflow forecasting and instant access to critical business metrics .

“ They can bridge the gap to plug into lenders with your existing data dashboards and bank accounts through third-party Open Banking providers like Plaid and TrueLayer . They can provide forecasts of cash flow needs , so you know whether you are short of funds , what invoices are still outstanding , and , if needed , help with collections . Kolleno is another excellent example of a fintech that helps small businesses drive short-term working capital cycles .”

ROGER VINCENT MANAGING DIRECTOR UK AND IRELAND , TRADE LEDGER

96 July 2022