HSBC has launched a mobile banking entity for small businesses in the UK.
In Brief:
It's called Kinect and offers savings and current accounts for SMEs.
Businesses will be able to manage transactions like direct debits, standing orders and future payments via mobile.
Kinetic already has 5,000 users.
What does this mean?
HSBC developed the platform from insights across over 3,000 small business owners. It found that less than a third of UK SMEs feel “completely confident” around their finances, and is seeking to solve common problems that came up such as being able to manage money in a time efficient way and understand how to take action from insights about their finances.
