Award-winning cash flow management solution, Satago, has joined the NayaOne Tech Marketplace. It helps banks offer more products to more customers more quickly than ever before.
NayaOne provides a digital transformation platform where innovation and collaboration thrive, as they bring bank-fintech partnerships together for innovation. We’re delighted to be partnering with them. We’ve built tried and tested tools and are excited to connect with the world’s biggest financial companies to help support their thousands of customers.
Adam Edwards
Director of Growth & Product, Satago
We are delighted to welcome Satago to the NayaOne Tech Marketplace. They provide large banks and financial institutions with a flexible and scalable solution, enhancing their competitiveness in offering credit and invoice financing products, while also enabling them to extend financing services to a broader range of customers.
Oli Platt
Head of Client Solutions
Cash flow management is essential for SMEs. Therefore, providing competitive solutions has become a priority for many large banks and financial bodies that now face an uphill battle in pursuing new opportunities and untapped markets. They often work with legacy systems that limit scalability and slow down development of new services. Meanwhile, building cash flow solutions in-house or acquiring solutions providers can be very expensive, time-consuming, and complicated.
With Satago, large financial institutions that want to work with SMEs can upgrade, digitise, and expand their offerings cost-effectively and in a fraction of the time. It helps them to:
- Offer fast, flexible lending to their customers, either in a lending-as-a-service or an embedded offering.
- Leverage Satago’s Credit Control and Risk Insights tools as embedded services within the banks’ existing platform.
- Utilise Satago’s solutions as white-label propositions, attaching their brand to Satago’s tools.
Core Benefits of Satago’s Solutions
By partnering with Satago, clients can benefit from:
- Digitising Current Offerings: Satago removes most of the manual activity that historically would slow down the time it takes for customers to make a decision and the process as a whole. This leads to improved customer experience, making clients more likely to return.
- Offering a New Form of Finance: Businesses that do not currently offer invoice finance can now work with a best-in-class solution that takes a fraction of the time to set up and is significantly cheaper than trying to build their own.
- Adding Value to Their Clients: Satago supports businesses with access to risk insights and automated credit control. This can be embedded into the bank’s system so that their clients can increase their awareness of who they are working with and be more proactive with the time they spend manually chasing invoices.
Client Case Study: Helping Lloyds Digitalise Their Invoice Finance Process
Satago is working with Lloyds to support digitising their invoice finance process. This enables the bank to offer fast and flexible financing to their SME customers.
Before partnering with Satago, the bank could only service the largest tickets and deal with them manually and slowly. The partnership with Satago provides Lloyds with a fully scalable solution.
Regardless of the size, industry, or ambition of the customer seeking financing, the bank can help them stabilise and improve their cash flow, without impacting the bank’s bottom line or workload.
The new, streamlined Invoice Finance offering also means that customers can enjoy a significantly faster service. As a result, they can apply for finance in minutes and receive funds within days in many cases.
Finally, the improvements to the user interface offer a more intuitive experience for customers, modernising the bank’s Invoice finance facility. Providing greater tracking for invoices, supporting debt verification and offering real-time risk insights – the partnership is a win-win for the bank and their thousands of SME customers alike.
About Satago
Satago is a world-class technology platform designed to take the pain out of B2B lending. Satago enables businesses, and accountants who advise them to avoid credit risk, improve debtor management, and access fast, flexible invoice finance – all within one smart platform. Customers, such as accountants, accounting tech, banks, and brokers, can embed, white-label, or integrate Satago.
