Andrea Reynolds, founder and CEO of Swoop, has seen a jump in demand for the company’s digital ‘finance buddy’ during Covid-19.
Speaking last October at Future Human, Swoop founder and CEO Andrea Reynolds said she saw how many small businesses would not have the resources available to seek the financial advice that other, larger companies would.
Now, with the introducing of PSD2 and open banking, Reynolds said Swoop’s platform allows businesses to have their own virtual CFO, of sorts.
“All of the banks have built a framework where third-party providers, like ourselves, can give us access to that data in a secure way and we do all of the calculations for you,” she said.
“So [Swoop is] like having a finance buddy next to you, a virtual one, that essentially does all these calculations and then scours the market for you and matches your data to the right products for you, personalised for you.”
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Words by Colm Gorey