IRIS Software Group Partners with UNIPaaS to Bring the Power of Embedded Finance to SMEs
- IT Innovations
- 14.03.2022 02:50 pm
· Partnership positions IRIS as a pioneer in the embedded finance space, enabling it to capitalise on the massive growth potential and demand for these capabilities.
· The latest Small Business Index reveals that over a third of UK SMEs experience cash-flow difficulties due to late payments.
· UNIPaaS' solution enables platforms to provide new, innovative and streamlined customer experiences while offering new value propositions for their customers, such as automating and digitising manual processes, reducing admin and errors, and helping businesses to improve their cash flow and growth.
Through its partnership with UNIPaaS, IRIS will be able to provide its customers with a more efficient and streamlined payments experience by truly embedding payments and open banking within its suite of products to improve SMEs cash flow. Recent research from the National Federation of Self Employed & Small Businesses suggests over a third of UK SMEs experience cash flow difficulties due to late payments. According to data provided by the UK’s Open Banking Implementation Entity, open banking services in the UK continue to grow with as many as five million active users as of February 2022.
UNIPaaS' solution enables platforms to provide new, innovative and streamlined customer experiences while offering new value propositions for their customers, such as automating and digitising manual processes; reducing admin and errors; and helping businesses to improve their cash flow and growth.
Through partnering with UNIPaaS, IRIS will be able to provide its customers with embedded finance solutions so they can add financial services alongside their core software products and in doing so, increase their own revenue per customer by 2-5x.
“We are extremely proud to have been selected by IRIS to join forces to provide embedded finance solutions. We created a truly embedded experience that unifies all payments and financial aspects in one place. Our mission is to remove all of the traditional pain points of B2B payments, and help companies improve their customer experience and improve their business’ cash flow. We look forward to working with the team at IRIS and to seeing the results that our technology will help it achieve,” says David Avgi, CEO & Co-Founder, UNIPaaS.
“We’re really excited to partner with UNIPaaS and provide our customers with embedded finance solutions. Moving forward together we can provide finance, HR and payroll teams, educational organisations, and accountancy firms with the software and services that takes the pain out of processes and helps them look forward with certainty and confidence. Our aim is to help our customers automate the payment process for on-time payments and an improved customer experience. SMEs are the lifeblood of the UK, representing 99% of our economy and have been traditionally underserved in terms of payment solutions. This partnership puts us ahead of the curve and enables us to meet the accelerating demand for embedded finance and Open Banking basedsolutions.”states Paul Nagy, Chief Product Officer, IRIS Software Group.