BankiFi Innovates Small Business Banking with Data & AI

BankiFi is helping banks and financial institutions rethink small business banking by combining data insights, technology, and a pragmatic approach to AI. The company works closely with its banking partners to understand the needs of small businesses, from sole traders to landlords, translating that knowledge into actionable product offerings. By leveraging these insights, BankiFi helps mainstream banks optimize their services for small business clients, improve current account market share, and enhance customer engagement.

At the core of BankiFi’s approach is the use of data-driven feedback loops. Quantitative data from thousands of small businesses using the platform, combined with qualitative insights from daily interactions, enables banks to identify pain points and deliver services tailored to each stage of a business’s growth journey. This insight-driven strategy ensures banks can create propositions that resonate with SMEs, offering the right products at the right time, from invoicing and payment options to broader financial services.

Open banking and regulatory changes are enablers in this evolution. Rather than treating open banking as a compliance exercise, BankiFi helps banks use it as a strategic tool to improve outbound engagement with SMEs. This includes wallet sharing, integrated financial workflows, and leveraging APIs for seamless banking experiences. The platform also enables banks to offer optionality for small businesses, allowing them to plug in existing solutions while still accessing new capabilities provided by BankiFi.

AI plays a supportive role, helping automate repetitive processes, provide conversational insights, and enhance accessibility. For instance, AI can simplify UX for small business owners, enabling them to access dashboards, receive financial insights, and manage their accounts without friction. By integrating AI thoughtfully, BankiFi empowers banks to offer enriched, personalized experiences for SMEs while maintaining operational efficiency and governance.

Overall, BankiFi’s combination of human insight, data intelligence, and practical AI applications allows banks to strengthen relationships with small businesses, improve retention, and build long-term brand affinity. Its approach addresses both challenges and opportunities in the evolving small business banking landscape.