B2B Payments

Amaiz Debuts Mobile Banking App For Startups

U.K. FinTech Amaiz is rolling out a mobile business banking app for entrepreneurs, announced in a blog post this week. The solution is available 24/7, and offers invoice generation and submission, expense recording and management, and other accounting tools.

According to Amaiz, the mobile app means "you may be able to dispense with the services of a separate accountant altogether — if you have a question, our accounting experts can pick it up in the app and send you a personal response."

The solution is designed for sole traders, gig workers, freelancers, contractors and entrepreneurs, the company said, and connects professionals with Mastercard business cards, Voice ID login authentication, Direct Debit management, cash flow management and push notifications.

While B2B FinTech designed for small businesses (SMBs) has taken off in recent years, mobile-first products remain relatively rare.

In the banking sector last month, Santander introduced trade finance functionality onto its mobile banking app Asto, designed for small businesses. It also supports invoice generation and submission, as well as the ability for users to access capital against unpaid invoices.

In a statement at the time, Ivo Weevers, co-founder of Albert, which was acquired by Santander and used to build out the Asto product set, said that mobile is small business owners' "favorite device," enabling entrepreneurs to more easily and quickly access financial services. The smaller end of the SMB market is, "by far, the biggest and, by far, the most underserved" in the financial services space, he added.

Square is another B2B FinTech that has added new functionality to mobile services for SMBs. In March, the company launched Square Invoices, which allows business owners to design and send invoices, and manage cash flow.



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