Open banking start-up Archie launches to support UK businesses
Archie, a UK-based payments and data start-up, has launched in the UK with the aim to help business owners and their customers “realise the full benefits of open banking and data sharing”.
Archie team
Using Archie’s platform, businesses can add a “faster and more cost-effective” open banking payments option to their existing payment methods using ‘pay by link’ and QR codes.
The firm claims it can enable business owners to streamline their payments and save “up to 70%” in transaction fees.
Archie also draws on real-time financial data, including balances, know your customer (KYC), transactional categorisation and merchant data, to help businesses gain insights into what their customers need and enable them to offer more personalised products and services.
“Archie is all about education and accessibility, both for Britain’s businesses and their customers, for whom data unlocks a host of possibilities,” says Graham Nyman, co-founder of Archie. “With our platform, SMEs can plug in and just pay for what they use.”
Co-founder Bhavesh Nayi adds that the firm is “providing the right tools to reduce payment costs” while also providing data-driven insights that will help businesses better understand and serve their customers.
