Intelligent Lending ships open banking powered business app, binq
0
• Proprietary Smart Search technology speeds up applications and analyses open banking data to match SMEs with personalised funding options, cheaper insurance and energy offers, better banking, and more.
• Ali, binq's 24/7 AI assistant understands your business from day one. It surfaces insights, flags issues, and offers support when it matters - whether it's new legislation you need to know about, cashflow warnings, or funding guidance.
• AI when you want it, human when you need it: 75% of binq's users choose to work with Ali, but human support is always a tap away. binq gives you the control, and on your terms.
Intelligent Lending is a growing group of fintech's, including consumer brands CredAbility, Ocean, and TotallyMoney. Its mission is to help people and businesses take control of their finances through technology and data. Headquartered in Greater Manchester, the group has offices in London, Cyprus and Italy.
Powered by open banking, experts, and AI, binq's mission is to help SME owners start, manage, and grow their businesses. Its AI business assistant, Ali, delivers real-time recommendations, personalised performance analysis, alerts, and support, 24/7. And when you need to speak to a human, the team of experts are just a tap away.
Proprietary Smart Search technology continuously analyses business open banking data and scans the market, so owners always know their best options. It uses this information and reviews public records to autofill forms, making applications quick and easy. Smart Search is currently live across four key areas, with more being added soon:
• Funding: With an estimated £65bn SME funding shortfall*, and 60% of owners not looking beyond their own banks for borrowing†, binq partners with specialist lenders to match businesses with better funding.
• Utilities: No energy price cap for SMEs has meant that costs have soared by 75% since 2021‡. binq scans the market to find cheaper options, so businesses can cut costs and benefit from better support.
• Insurance: 80% of SMEs are under-insured§, and 2 in 5 have none at all¶. binq finds personalised options for businesses at fair prices, protecting them against costly surprises.
• Banking: A third of owners use personal accounts for business matters#, and less than 1% of SMEs have switched banks in the last 10 yearsΔ. With a panel of specialist providers, businesses can now unlock their potential, receive improved rates, and experience enhanced service.
The launch of binq marks a busy 2025 for Intelligent Lending, following the acquisition of personal finance app, TotallyMoney, and its move to a head office in MediaCity, Salford Quays.
Jamie Stewart, founder and CEO of binq comments:
'The UK's 5.5 million SMEs are a significant contributor to both the economy and society, making up 99% of all businesses, employing 16.6 million people, and turning over £2.8 trillion annually.
'However, in recent years, they've faced a sharp rise in operating costs, while the government has withdrawn support and hiked employment tax.
'Running an SME is hard enough, and with binq, we want to make it easier for people to start, manage, and grow their businesses. And that's why we're supporting owners to finding funding, switch suppliers, and stay on top of the numbers - while giving them something powerful: time back.
'Our AI assistant, Ali doesn't just answer questions - it knows your business, flags what matters, and offers real support around the clock. And if you want to speak to a human, we're there when you want.
'It's exciting to be doing this with the support Intelligent Lending - a fast-growing group of businesses who are using technology and AI to improve the finance services.'
Simon Kay, Chair of Intelligent Lending adds:
'binq is a brilliant new addition to Intelligent Lending, as we continue to grow at pace, following our recent acquisition of TotallyMoney, and move to Salford's MediaCity - a global hub for media and tech innovation.
'Jamie Stewart and his team bring years of experience and knowledge in the SME space, and binq's technology promises to remove many of the barriers which are holding back so many SME owners.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
an hour ago
- The Independent
Why millions of motorists denied payouts after car finance court ruling
The Supreme Court ruled that car finance lenders are not liable for hidden commission payments to millions of drivers, overturning a previous Court of Appeal decision. This decision significantly reduces the potential compensation payout for lenders from an estimated £45bn to between £5bn and £15bn. The court rejected arguments that the payments were 'bribes' or that car dealers had a 'fiduciary duty' to customers, but upheld one case where the finance relationship was deemed unfair. Despite the ruling, consumers who paid particularly large commissions may still be eligible for compensation under the Consumer Credit Act. The Financial Conduct Authority is expected to announce a redress scheme for cases where the relationship is deemed unfair, with experts advising consumers to await further guidance.
Reuters
an hour ago
- Reuters
UK's online safety law is putting free speech at risk, X says
LONDON, Aug 1 (Reuters) - Britain's online safety law risks suppressing free speech due to its heavy-handed enforcement, social media site X said on Friday, adding that significant changes were needed. The Online Safety Act, which is being rolled out this year, sets tough new requirements on platforms such as Facebook, YouTube, TikTok and X, as well as sites hosting pornography, to protect children and remove illegal content. But it has attracted criticism from politicians, free-speech campaigners and content creators, who have complained that the rules had been implemented too broadly, resulting in the censorship of legal content. Users have complained about age checks that require personal data to be uploaded to access sites that show pornography, and more than 468,000 people have signed an online petition calling for the act to be repealed. The government said on Monday it had no plans to do so and it was working with regulator Ofcom to implement the act as quickly as possible. Technology Secretary Peter Kyle said on Tuesday that those who wanted to overturn it were "on the side of predators". Elon Musk's X, which has implemented age verification, said the law's laudable intentions were at risk of being overshadowed by the breadth of its regulatory reach. "When lawmakers approved these measures, they made a conscientious decision to increase censorship in the name of 'online safety'," it said in a statement. "It is fair to ask if UK citizens were equally aware of the trade-off being made." X said the timetable for meeting mandatory measures had been unnecessarily tight, and despite being in compliance, platforms still faced threats of enforcement and fines, encouraging over-censorship. It said a balanced approach was the only way to protect liberty, encourage innovation and safeguard children. "It's safe to say that significant changes must take place to achieve these objectives in the UK," it said. A UK government spokesperson said it is "demonstrably false" that the Online Safety Act compromises free speech. "As well as legal duties to keep children safe, the very same law places clear and unequivocal duties on platforms to protect freedom of expression," the spokesperson said. Ofcom said on Thursday it had launched investigations into the compliance of four companies, which collectively run 34 pornography sites.
Daily Mail
an hour ago
- Daily Mail
The 37 taxes you pay and why it now takes £3.1m to feel 'wealthy' - This is Money podcast
While the average household pays £16,700 in direct tax on income, our audit shows this is just the tip of the iceberg. We all pay a multitude of other taxes, from air passenger duty to environmental levies on our energy bills. Lee Boyce, Simon Lambert and Georgie Frost discuss what the total sum is - and that our tax rate is more like 57 per cent. And tax rises don't always bring in more cash for the Treasury coffers. As the Government weighs up introducing yet another tax - this time a wealth tax - we explore why despite the allowance being slashed the capital gains tax take is down and what it means for the Chancellor's plans. How much you need to feel wealthy in different areas of Britain? Does £1million still cut it? The six burning questions everyone is asking financial advisers right now… and their expert answers And we answer a reader query: Could I give £250 gifts to 400 people who then pay them to my daughters to beat inheritance tax on £100,000? Listen to the This is Money podcast We publish the podcast every Friday on This is Money and at Apple Podcasts, Spotify, Amazon Music and more. Search for it at your favourite podcast platform. To download Apple Podcasts go to the App store. On Android devices, go to the Google Play store to download the podcast app of your choice. You can press play to listen to this week's full episode on the player above, and wherever you get your podcasts please subscribe and review us if you like the podcast. You can also listen to the latest episode, find the archive and join in the debate in reader comments on the This is Money podcast page.
