BankiFi
BankiFi is a Manchester-based fintech that provides an API-first embedded banking platform enabling mainstream banks to deliver SMB invoicing, payments, cashflow, lending, and tax-compliance workflows white-labeled inside their own digital channels.
- Company typePrivate
- Founded2018
- HeadquartersManchester, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What BankiFi does
BankiFi is a Manchester-based fintech founded in 2018 that provides an Embedded Banking-as-a-Service (BaaS) platform to mainstream banks and financial institutions serving small and medium-sized businesses (SMBs). Its core technology is a cloud-native, API-first microservices platform, SOC 2 Type II and ISO 27001:2022 certified and FCA-authorized (registration 926574), which banks white-label and embed directly inside their existing digital channels. The platform delivers invoicing, payment requests, collections, cashflow forecasting, accounting reconciliation, working-capital finance, and tax compliance workflows to SMB end-customers under the bank's brand.
The company's product portfolio includes the Embedded Banking as a Service platform, the Open Cash Management Platform, Go Get Paid (a payment-request solution achieving 79% of invoices paid within two days), Lending-as-a-Service (in partnership with Praetura), the Making Tax Digital tool (embedded at Lloyds), and the standalone Incomeing app. BankiFi monetizes primarily through platform licensing to banks on multi-year managed-service contracts, supplemented by transaction-based fees (e.g., Go Get Pay) and revenue-share on lending referrals. Its go-to-market is enterprise field sales targeting UK and North American banks, with named customers including The Co-operative Bank, Lloyds Banking Group, Nationwide, TSB, Visa, and Axiom Bank.
BankiFi's stated traction includes over £2 billion in payments processed, 1 million+ businesses using its platform across bank deployments, and a 62% year-over-year increase in new business current accounts opened at The Co-operative Bank. The company has raised approximately £2.2M (September 2021, Praetura Ventures / GMCA), £500K from The Co-operative Bank (December 2021), and $4.8M (July 2022) for North American expansion. As of 2025, it reports revenue of approximately $2.1M against 19 employees, with operations in the UK (Manchester headquarters), a US subsidiary (BankiFi Americas), and a Dutch subsidiary (BankiFi to Market BV).
BankiFi firmographics
Firmographics- Name
- BankiFi
- Legal name
- BankiFi Technology Limited
- Website
- https://bankifi.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BankiFi is a Manchester-based fintech that provides an API-first embedded banking platform enabling mainstream banks to deliver SMB invoicing, payments, cashflow, lending, and tax-compliance workflows white-labeled inside their own digital channels.
- Ownership category
- akta.pro rank
BankiFi industry classification
Industry- Product category
- Embedded Banking-as-a-Service (BaaS) Platform
- NAICS
- Commercial Banking (522110), Commercial Banking (52211)
- SIC
- Finance Services (6199), Loan Brokers (6163)
- akta.pro primary industry
- BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)
- akta.pro secondary industries
- SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI), Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Banking-as-a-Service (BaaS) Neobanks / Neobank Enablers (FSABAFAL)
Keywords
Where BankiFi is headquartered
LocationHeadquarters
- HQ city
- Manchester
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
BankiFi business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Embedded Banking Platform Licensing: BankiFi provides financial institutions with a white-labeled embedded banking platform. Revenue is generated through licensing the technology to banks (e.g., The Co-operative Bank, Lloyds, Nationwide, TSB, Axiom Bank) who deploy it as a managed service. Banks pay for the platform to enhance their SMB digital proposition, acquire deposits, improve NPS, and reduce attrition.
- Transaction and Payment Processing Fees: The Go Get Pay and Open Cash Management platforms process payments and invoice collections on behalf of banks' SMB customers. Transaction volumes generate processing fees, with 79% of payment requests paid within two days driving high transaction throughput.
- Professional Services and Implementation: Co-development and custom implementation services for bank partners, including configuration of the platform to each bank's specific digital channel requirements, integration with existing banking systems, and ongoing support.
- Lending-as-a-Service Revenue Share: Through the partnership with Praetura, BankiFi enables banks to offer asset and invoice finance to underserved SMEs. BankiFi likely earns a revenue share or referral fee for directing lending opportunities through the platform, generating cross-sell revenue for FIs and a platform fee for BankiFi.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Making Tax Digital Tool — Free for Lloyds Business Customers |
| Transaction based/ take rate | Pay-as-you-go | Go Get Pay (The Co-operative Bank) — Transaction-Based |
| Subscription | Multi-year contract | Enterprise Bank Licensing — Custom Negotiation |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
BankiFi product offering
Product offeringCore offering
BankiFi provides an Embedded Banking-as-a-Service (BaaS) platform that enables mainstream banks and credit unions to embed SMB financial management workflows (invoicing, payments, collections, cashflow forecasting, accounting integration, tax compliance, and working capital finance) into their existing digital channels under their own brand. The cloud-native, API-first microservices platform is white-labeled for each bank partner and deployed as a managed service.
Product overview
BankiFi is an Engagement Banking platform provider offering a unified portfolio of embedded banking solutions for mainstream banks serving SMBs. The core offering is the Embedded Banking as a Service (EBaaS) platform, a suite of API-driven microservices that banks embed into their digital channels. This platform powers several integrated modules including the Open Cash Management Platform (invoicing, payments, collections, accounting, cashflow forecasting, working capital insights), Go Get Paid (payment request and collections with 79%+ payment rates within 2 days), and Lending-as-a-Service (working capital finance via Praetura partnership). BankiFi also offers the standalone Incomeing app for SMEs and a Making Tax Digital compliance tool (with Lloyds). The company provides thought leadership through multiple white papers and operates across UK, Europe, and North America with strategic partnerships including The Co-operative Bank, Lloyds, Nationwide, TSB, Visa, Axiom Bank, and Praetura.
Differentiator
Problem solved
Functional benefit
Brands
- Incomeing: A standalone app for SMEs to manage invoicing and payments, usable by customers of any bank, featuring open banking request-to-pay technology for instant payment collection.
Products and services
- Embedded Banking as a Service (EBaaS) Platform Core cloud-native, API-first microservices platform that enables mainstream banks and financial institutions to embed SMB financial management workflows (invoicing, payments, collections, cashflow forecasting, accounting integration, working capital finance, and tax compliance) into their existing digital channels under their own brand. Sold to banks as a managed service.
- Open Cash Management Platform A comprehensive embedded banking solution combining open banking and embedded banking capabilities, enabling customers to handle invoicing, payments, collections, accounting, cash forecasting, and working capital optimisation insights. Built with pre-existing bank connectors for efficient onboarding without major tech integration.
- Go Get Paid Payment request and collections solution for small businesses that sends digital payment requests directly to customers via email, SMS, WhatsApp, and QR code. Achieves over 79% payment rates within two days and includes payment reminders, accounting package linking, and automated reconciliation. Deployed through bank partners such as The Co-operative Bank.
- Incomeing Standalone invoicing and payment request app for SMEs using open banking Request-to-Pay technology. Allows businesses to create invoices, send payment requests via email, SMS, or QR code, and receive instant payments. Integrates with major accounting packages for seamless reconciliation.
- Lending-as-a-Service Working capital finance solution delivered in partnership with Praetura, enabling banks to offer asset and invoice finance to SMEs that may not meet traditional lending criteria. Designed to address the £22 billion SME funding gap and create a new revenue stream for bank partners.
- Making Tax Digital Tool Embedded compliance tool for UK sole traders and landlords to meet Making Tax Digital for Income Tax requirements. Enables digital record-keeping, quarterly HMRC submissions, estimated tax views, and end-of-year filing directly within the bank's app. Offered free to Lloyds Business customers with no subscription fee.
- Cash Management Solution Solution helping UK SMEs manage their cash position and support growth. Built on open banking technology, enables visibility of cashflow position and better business decisions.
- SME Mobile Banking App Bank-branded SME mobile banking application offering account balance tracking, transaction monitoring, and seamless payment capabilities within The Co-operative Bank's digital space. First innovation delivered through the BankiFi partnership.
Quantifiable outcome
- 79% of invoices paid within two days through BankiFi-powered solutions (vs. 71-day UK average for invoice collection)
- +7 more outcomes
Companies that use BankiFi
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles2 records
BankiFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature10 records
BankiFi partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship, core and supporting.
- Lloyds Banking GroupflagshipBankiFi entered a partnership with Lloyds in 2025 to launch a free Making Tax Digital (MTD) tool for UK small businesses within the Lloyds Business Account app. Powered by BankiFi's technology platform, the tool enables sole traders and landlords to comply with MTD for Income Tax requirements directly within the bank's digital channel — marking a significant expansion of BankiFi's embedded banking deployment at a major UK bank.
- Praetura (Lending-as-a-Service)coreBankiFi partnered with Praetura (an alternative lender) on a lending-as-a-service solution enabling asset and invoice finance for SMEs on behalf of banks that cannot support those businesses under traditional criteria. This solution addresses the £22 billion SME funding gap and creates a new revenue stream for bank partners through BankiFi's platform. Praetura is backed by BankiFi's tech platform and a prior investor relationship.
- MX TechnologiessupportingBankiFi partnered with MX Technologies to enhance its embedded banking platform. MX Technologies provides financial data aggregation and connectivity capabilities that complement BankiFi's embedded banking workflow platform, strengthening the solution for financial institutions.
- Axiom BankcoreAxiom Bank became BankiFi's first North American banking customer in July 2022. The partnership involved deploying BankiFi's SMB payment and collections solutions as part of Axiom Bank's Banking-as-a-Service strategy. Keith Riddle (BankiFi) and Nigel Prince (Axiom Bank) co-presented a BaaS case study at the VenCent 2023 fintech summit.
- The Co-operative BankflagshipBankiFi entered a co-development deal with The Co-operative Bank in December 2021, investing £500,000 from the bank, to create new banking products for the SME market. The initial focus was cash management, developing a new Request to Pay app and other financial services, first launched by The Co-operative Bank and later made available globally. The partnership expanded to include Go Get Pay (payment requests) and later Cash Management, generating a 62% YOY account growth.
- FIS and The Venture CentersupportingBankiFi was selected to participate in the sixth cohort of the FIS Fintech Accelerator program, a collaboration between FIS and The Venture Center. The program fosters innovative financial services solutions and helped BankiFi showcase its Embedded Banking-as-a-Service platform to financial institutions, particularly in North America.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
BankiFi competitors and assessment
Company assessmentDirect peers
- Ordo: UK-based Request-to-Pay and open-banking payments provider for businesses and banks. Directly comparable to BankiFi's Go Get Paid payment-request and collections product.
- Yapily: European open-banking infrastructure provider enabling account access and payments for banks and businesses. Closely comparable to BankiFi's API-driven distribution of financial workflows via bank partners.
- TrueLayer: Open-banking API platform providing account connectivity, payments initiation and data services to banks and fintechs in the UK and Europe. Directly comparable to BankiFi's open-banking-powered embedded workflows.
- Token: Open-banking payments and account-data network used by banks and corporates to embed account-to-account payments. Comparable to BankiFi's Go Get Paid / Request-to-Pay-style payment-request infrastructure.
Broad incumbents
- Finastra: Large core-banking and lending technology provider whose embedded finance and open-banking offerings target the same mainstream-bank buyers as BankiFi, with a much broader product portfolio.
- MX Technologies: Financial-data aggregation, connectivity and personal-finance-management platform serving banks and credit unions (and an existing BankiFi partner). Overlaps directly with BankiFi's data-acquisition and SMB personalisation capabilities.
- Plaid: Dominant financial-data connectivity and embedded finance platform used by thousands of banks and fintechs. Competes with BankiFi in providing bank-channel integrations and SMB data access for mainstream FIs, but at much larger scale.
Emerging players
- 10x Banking: Cloud-native core banking platform used by challenger and incumbent banks to power modern digital propositions. Comparable as an enabling platform for mainstream banks modernising their SMB offerings.
- Bud Financial: Open-banking data and personalisation platform enabling banks to build customer insights and engagement propositions. Overlaps with BankiFi's data-acquisition and analytics engine for SMB banking.
- Pismo: Cloud-native core banking and payments processing platform for issuing, accounts and money movement. Comparable to BankiFi on the embedded banking and ledger/money-movement capabilities for bank partners.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
BankiFi social profiles
Digital presenceBankiFi compliance and trust
Trust signalCompliance3 records
BankiFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
BankiFi leadership team
Management profileNumber of profiles
Profiles10 records
BankiFi subsidiaries and ownership
Company hierarchySubsidiaries1 record
BankiFi funding detail
Funding detailFunding overview
Funding rounds6 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BankiFi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BankiFi
What does BankiFi do?
BankiFi provides an Embedded Banking-as-a-Service (BaaS) platform that enables mainstream banks and credit unions to embed SMB financial management workflows (invoicing, payments, collections, cashflow forecasting, accounting integration, tax compliance, and working capital finance) into their existing digital channels under their own brand. The cloud-native, API-first microservices platform is white-labeled for each bank partner and deployed as a managed service.
Is BankiFi a public or private company?
BankiFi is a private company. It is classified as venture growth investor backed and is currently operating.
When was BankiFi founded?
BankiFi was founded in 2018. It employs 11 to 50 people.
Where is BankiFi based?
BankiFi is headquartered in Manchester, United Kingdom, in the Europe region.
How does BankiFi make money?
Four revenue lines are on record. Embedded Banking Platform Licensing is the primary driver. The others are transaction and Payment Processing Fees, professional Services and Implementation and lending-as-a-Service Revenue Share.
Who are BankiFi's main competitors?
Direct peers on record are Ordo, Yapily, TrueLayer and Token. Broad incumbents are Finastra, MX Technologies and Plaid. Emerging players are 10x Banking, Bud Financial and Pismo.
Does BankiFi have an API?
Yes. BankiFi operates as a data-driven distributed banking model that enables financial service providers to manage, consume, distribute, and monetise data through a suite of API-driven microservices. The platform is API-first and offers managed services that can run in private or public cloud environments. However, no specific public API documentation URL, developer portal, SDK details, or API endpoint specifications are provided in the source material.
What industry is BankiFi in?
BankiFi's product category is Embedded Banking-as-a-Service (BaaS) Platform. Its primary akta.pro industry code is FSAGALAA, BaaS Platforms & Sponsor Bank Enablement, with a secondary code of FSAGAAAI, SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations). Its NAICS code is 522110 and its SIC code is 6199.