Armalytix Press – Fintechna Open Banking is an essential tool to navigate the COVID bounce back
As the pandemic comes to an end, millions of small businesses are facing a complex financial future. As staff are coming off furlough and businesses open, many will need to assess the impact of repaying tax deferrals or bounce back loans. Richard McCall, CEO of Armalytix, believes Open Banking can help accountants and SMEs navigate the post-pandemic bounce back more effectively.
Small businesses are the lifeblood of the UK’s financial system, collectively pumping billions of pounds into the economy each year and providing the public with thousands of job opportunities as they grow. Recent findings by the House of Commons library reported that, of the 5.98 million businesses in the UK, less than 100,000 have more than 250 employees and 5.7 million less than 10.
