FinTech Tide is using open banking to offer additional capabilities for small businesses.
Tide offers a mobile first offering for SMEs.
It will now allow SMEs to connect existing accounts to its platform.
Customers with Starling Bank, Natwest and Barclays will be able to use Tide’s tools.
What does this mean?
With open banking powered “third party bank accounts”, Tide hopes to add new SMEs to its platform over the coming year, since they can try it without having to switch accounts.