Sergey Dobrovolskiy, Founder of Amaiz.Amaiz, a UK-based FinTech enterprise, today launched its first business banking app for UK solopreneurs. With a business current account for sole traders, Amaiz makes running a small business more manageable by providing a sleek mobile app, financial health overviews, 24/7 in-app customer support and accountancy help.

Today 27% of small business owners still do not have a separate bank account for business, according to the 2018 Clutch report. While technically sole traders can use their personal bank account for their trading activities, mixing personal and business expenses often means investing more time and effort into managing their cashflow and keeping records for tax compliance checks. It can be painful and very time consuming while business today demands speed and agility.

Sergey Dobrovolskiy, Founder of Amaiz: Managing your money properly is key to the success of your business. You need to have a clear picture of your cashflow, to be able to predict extra expenses, and to have a very accurate split between your personal and business finances. Having all business-related operations together in one place will help you run your finances easily and focus on what really matters – development and growth. This is what Amaiz is about.

To facilitate all regular financial operations for this under-served UK business sector, Amaiz has developed an app that features bespoke tools to support agile, ‘always-on’ small businesses. Amaiz aims to release customers from time-consuming admin and paperwork by bringing together fast, convenient banking service with smart back-office and accounting tools.

Amaiz delivers:

Integrated banking solutions with: 

• a quick-to-set-up current account
• fast UK bank transfers in and out, plus Direct Debit management
• a contactless business card with 3-D Secure protection, in-app card freeze and instant PIN reminders

Accounting and business support tools with:

• cashflow charts that give a birds-eye view of your financial health
• categorised transactions that quickly assess where a business owner may be overspending, and to prepare for tax self-assessment in advance
• an expert accountancy team to help sole traders with general bookkeeping and accounting questions
• customisable templates and status tracking for invoices

A genuine understanding of a small business’ daily issues with:

• 24/7 support via in-app chat, email or phone
• A transparent, fixed low monthly fee of £9.99

56% of entrepreneurs confirmed that big corporate service providers do not understand the challenges of running a small business. 

The startup-like mentality of Amaiz makes our product a highly convenient, seamless way to simplify and tidy up finances for small businesses; our personal approach helps business owners follow their dreams and bring them to life – because Amaiz has got your back. – concluded Sergey Dobrovolskiy.

Free trials of Amaiz for solopreneurs will be rolled out between early June and the start of September, after which a flat monthly fee of £9.99 will apply.