CIMB’s Post

If you’re a #travel & #expensemanagment platform who wants to partner with multiple #banks for #issuing solutions like this 👇🏽 Episode Six can help you! #banking #bankingnews #bankingtech #paytech #paymenttech #fintech #fintechnews #corporatecards #travelcards #purchasecards #creditcards

Zero Balance Account in Dubai, UAE: Features and Benefits Unlocking the power of financial flexibility! 💼💳 In the dynamic landscape of Dubai's financial sector, Zero Balance Accounts emerge as a game-changer, offering unparalleled convenience and numerous advantages. 🚀 🌟 Key Features: ✅ No Minimum Balance: Experience the freedom of maintaining a zero balance without any constraints. ✅ Easy Accessibility: Seamlessly manage your finances with 24/7 access through online platforms and mobile banking. ✅ Effortless Transactions: Conduct transactions without worrying about maintaining a minimum balance, simplifying your financial activities. 💡 Benefits Galore: 🔄 Enhanced Liquidity: Optimize your cash flow with the flexibility to use your funds as needed. 💼 Business Efficiency: Ideal for businesses of all sizes, promoting efficient financial management. 📈 Interest Earnings: Some accounts offer attractive interest rates, ensuring your money works for you. 🌍 Global Connectivity: Connect with the global market effortlessly through international transactions and currency management. 🤝 Collaborate, Innovate, Elevate: Zero Balance Accounts redefine financial strategies, fostering innovation and collaboration. Join the conversation to explore the limitless possibilities! Let's shape the future of finance together! 💼✨ #ZeroBalanceAccount #DubaiFinance #FinancialFlexibility #UAE #BankingInnovation #BusinessEfficiency #FinancialFreedom #DubaiBusiness #LiquidityManagement

This week, Tide announced reaching the milestone of 500,000 business accounts. Alongside this, it claimed a 10% share of UK SME banking. Hmm, that doesn't sound right to me 🧐. The commonly accepted figure for active limited companies in the UK is 5.8 million, 99% of which are classified as SMEs. On that basis, 500,000 would suggest an 8.5% market share and we'd allow the PR department the subtle rounding-up in the interests of a good story. However... 8.5% assumes that all of Tide's customers are active limited companies. If there are sole traders, unlimited partnerships and some dormant businesses in the customer base, as I suspect there are, then we're not comparing apples with apples. The total number of businesses in the UK of all types, from side-hustles to the largest corporations, is believed to be nearer 16.5 million. If we take that figure, then Tide's share is closer to 3.5%, which sounds more realistic. Accurate, up-to-date figures on the number of business current accounts held by all the banks are hard to come by as the banks guard this data jealously. However, a CMA report in 2022 suggested that 86% of business current accounts are still in the hands of the Big 4. If we add to that Santander, TSB, Co-op et al, the pot simply isn't big enough for Tide to have a 10% share... yet. A more convincing angle for Tide's PR team to take would be the share of new business account openings in the past three to five years. Here, I can fully believe that the share of the market held by Tide and the other challenger banks has been increasing as the Big 4 become increasingly inaccessible to start-ups. The Tide story is a good one, it's a shame to spoil it with inflated claims. If anybody at Tide disagrees with this analysis, I'll be delighted to hear from you. https://lnkd.in/evFVnrAc

Breaking Down the Process: Bank Account Opening Assistance Locally and Internationally 🌐 Are you a business owner looking to streamline your financial operations? One critical aspect that often comes with its own set of challenges is opening a bank account. Whether you're setting up shop in the UAE or expanding internationally, our Bank Account Opening Assistance services are designed to simplify the process for you. 🏦 Local Banking Solutions Navigating the local banking landscape is crucial for any business operating in the UAE. Our experts understand the banking system here, ensuring a smooth and efficient account opening process. From document preparation to liaising with banks, we've got you covered every step of the way. 🌍 International Reach Expanding globally? Our team specializes in facilitating international bank account openings, connecting you with reputable financial institutions worldwide. Whether you're eyeing opportunities in Hong Kong, BVI, the Cayman Islands, or beyond, we leverage our extensive network to make the process hassle-free. 💼 Tailored Solutions We recognize that every business is unique. That's why our Bank Account Opening Assistance is not a one-size-fits-all service. We work closely with you to understand your specific needs and guide you toward the most suitable banking solutions, ensuring a tailored approach that aligns with your business goals. Key Benefits ✅ Time Efficiency: Save valuable time with our streamlined processes. ✅ Expert Guidance: Rely on the expertise of our team for sound advice. ✅ Global Access: Open doors to international markets with ease. ✅ Compliance Assurance: Stay on the right side of regulatory requirements. 📈 Unlock Your Business Potential Don't let the complexities of bank account opening hinder your business growth. With our Bank Account Opening Assistance, you can focus on what you do best while we take care of the financial groundwork. Ready to embark on a seamless banking journey? Contact us today and let's unlock new possibilities for your business. Contact: 📧 Email: cpadmin2@flyingcolour.com 📞 Phone: +971556442467 Whatsapp Channel: https://lnkd.in/gPSY75M2 #Banking #BusinessGrowth #InternationalExpansion #FinancialSolutions #UAEBusiness

Starting a #remittance company 💵 is a venture that requires careful planning, adherence to #regulatory frameworks, and strategic partnerships. In this article, we explore the concepts of money remittance and transfer, examining various types of remittance services. Additionally, we offer a guide outlining the step-by-step process to establish a successful remittance or #moneytransfer business. 🚀 For remittance companies Advapay offers: ⭐ Assistance in EMI/PI licencing in the EEA/UK https://lnkd.in/eZetBhaz ⭐ Registration of MSB company in Canada https://lnkd.in/eHfK2hdg ⭐ Delivery of a comprehensive Core banking system encompassing back-office and white-label applications for end-users https://lnkd.in/e6V5mWAm ⭐ Assistance in payment infrastructure development https://lnkd.in/ey3EK77X ⭐ BaaS-solutions in collaboration with our partners – EEA/UK licenced EMIs and PIs https://lnkd.in/e3EWS6V4 #advapay #fintech #fintechs #payment #payments #digitalbank #banking #fintechinnovation #digitalbanking #regulatorycompliance #regulatorystandards  #corebanking #msb #licencing🚀

An RBA Survey released last year shows the number of cash payments made by Australians has halved in the three years to 2022 – from 32% to 16% of all in-person transactions.   The increasing number of payment channels means there is no one-size-fits-all solution for SMEs. To help them make the right choice for their business model, NAB has shared three considerations to guide their decision.   Read more here: https://lnkd.in/gYdT-7Vv   #NAB #SME #digitalpayments