Amaiz

Description

Amaiz is a UK banking service that transforms the lives of small companies and the self-employed across iOS, Android and the web. Out customers benefit from UK current accounts, 24/7 customer care, accountancy integration (with expert support) and smart tools that help them take control of their finances without the hassle. Follow us for updates and find out more and download our app at amaiz.com.

Overview

Type:	Private
Foundation year:	2017
Location:	London, United Kingdom
Number of employees:	11-50
Founders:	Sergey Dobrovolskiy
Website:	http://amaiz.com/

Target geographic market:

Europe

Awards:

About Product/Service

Products	Starter; Advanced
Core product offerings for individual/retail customers	Business Current Account
Differentiating features of product	Amaiz’s app lets you invoice straight away and tells you when you’ve been paid. You’ll save time with automatic categorisation of your expenses and the space to instantly store digital copies of your receipts from your phone camera. App bookkeeping gives you a clear view of your cashflow when you’re at work and when you need to pay bills. You can access your Amaiz account round the clock. Every account holder has access to our live customer support team during business hours. Amaiz’s Advanced plan gives you access to ACCA certified accountants, ready to help you with quick answers to your accounting, bookkeeping and invoice questions. You’ll receive your pre-paid Mastercard® card within a week - free to use at 60,000 cash points across the country. Manage your card from the app, including a secure PIN reminder and quick and easy freezing and unfreezing if you need it. You can make faster payments through the app and rely on instant notifications to track your comings and goings. Cash flow charts give you instant updates on your expenditure and keep surprises at bay. An additional Jar account lets you choose when you set aside money. Save a percentage of your income or transfer as you go - it’s there to save for goals as much as to ring-fence money for upcoming tax bills.
Core product for bussiness customers	Advanced
A free current account switch service	Current account switch guarantee
Regulators/Compliance	Video authentication, biometrics (fingerprint, face, touch or voice ID); Amaiz Ltd (No. 900857) is an e-money institution under UK Electronic Money Regulations 2011, it is regulated by the Financial Conduct Authority and is a registered agent of PrePay Technologies Limited (No. 900010) which is an electronic money institution authorised by the Financial Conduct Authority for the issuing of electronic money and payment instruments; FSCS protected
Pricing	Starter: £0.00/mo; Advanced: £9.99/mo
The Base Currency	GBP (£)
Number of Currencies Supported	1 (GBP)

Sales channels	Advanced: £9.99/mo
Product cost	Advanced: £9.99/mo
Openning a current account (business and personal)	Free trial possible
Monthly fees	Advanced: £9.99/mo
Issuing physical card and delivery	Mobile only
Money transfers/payments	Intra-bank transfers: £0.20; Bank transfers: £0.20; International transfers: No
Currency exchanges	No
ATM withdrawals	Yes, free of charge. Overseas ATM charge: European = £1.25, Other ATMs £2
Overdrafts	No
Other	Savings: No: UK Current Account: Yes
Minimum USD deposit required to open (a) a personal account (b) a business account	£0.00
(a) a personal account	No
(b) a business account	Yes
A free current account switch service	Current account switch guarantee

Key people

Steve Taklalsingh MD & CFO

Funding rounds

Last Funding Date	N/A
Last Funding Amount	N/A
Last Funding Type	N/A
Total Funding Amount	N/A
Number of Funding Rounds	N/A

Financials

Customer/Products segments	Online banking, payments, accounting, tax, back-office tools, invoicing and budgeting tools
Key product offering	Starter Plan, Advanced Plan
Banking license	No
Type of customers	SMEs, sole traders, startups
Number of investors	N/A
Number of lead investors	N/A
Names of lead investors	N/A

Tech stack

The technologies that underpin a platform (FX, identity, infrastructure, security, payments gateways, business systems, APIs, etc.)	Accounting integration: FreeAgent, Xero, Sage, Reckon One, Kashflow, QuickBooks
Devices supported	iOS, Android
Languages	English

Competitors

Save comparison	Founding Date	Type	Tags
x Onfido	2012	Private	Onfido
x Coconut Coconut is the current account that takes care of...	2016	Private	Challenger banks, fintech
x ClearBank ClearBank is the UK’s first new clearing bank in...	2014	Private	Challenger banks, fintech
x Simple Simple is online banking with superhuman customer...	2009	Private	fintech, challenger banks
x Gemalto Gemalto is an international digital security...	2006	Private	Gemalto