FreeAgent is now visible within NatWest’s online digital banking platform, allowing businesses who bank with NatWest to view their finances and accounting together.
The Edinburgh based fintech has also launched a new partnership with UK insurer Hiscox, which will allow businesses to obtain an insurance quote directly from within the platform. The partnership uses artificial intelligence (AI) to identify business owners that are potentially ‘under insured’, generating quotes to fit their individual requirements, and making it as easy as possible to purchase the solution that best suits them.
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Both improvements form part of both NatWest and FreeAgent’s wider strategy to revolutionise small business admin by embracing fintech innovations like AI and Open Banking.
Last year FreeAgent became the first UK accountancy software provider to offer direct bank feeds from any UK bank via Open Banking; today’s announcements are the first in a series of deeper integrations that will provide a more intuitive experience for businesses, with the ultimate aim to allow SMEs to have complete oversight of their finances within one platform.
FreeAgent has also recently introduced an ‘Insights’ feature which provide business owners with actionable notifications, highlighting opportunities and issues and ultimately allowing SMEs to make better decisions about their finances.
