Artificial Intelligence Service Intelligent Lending Introduces binq: Pioneering AI Tool to Bolster Businesses for the UK's 5.5 Million Small and Medium Enterprises (SMEs)
In the heart of Greater Manchester, where innovation thrives, Intelligent Lending, a fintech group with offices in London, Cyprus, and Italy, has launched a groundbreaking business platform for small and medium-sized enterprises (SMEs) - the binq app.
Running an SME has become a challenging endeavour, with a sharp rise in operating costs, government withdrawal of support, and increased employment tax. Recognising this, binq aims to provide SME owners with a centralised tool that combines various business-related functions powered by AI, offering round-the-clock support, expert guidance, and instant answers to keep financial decisions sharp and informed.
The binq app, free to download on iPhone and Mac, requires recent operating system versions. Developed by Intelligent Lending Limited through Nivo Solutions Limited, key features include an always-on AI agent, Ali, that supports business and financial decision-making at any time. Ali, binq's 24/7 AI assistant, understands a business from day one, delivers insights, flags issues, and offers real support around the clock. Human support is also available for those who prefer it.
Binq's technology promises to remove many barriers for SME owners by integrating multiple business tools in a single app, streamlining operations. This consolidation extends to financial management, with assistance in handling lending, cash flow, and growth strategies.
The UK's SME sector faces a significant funding shortfall, estimated at £65bn, and 60% of owners do not look beyond their own banks for borrowing. Binq aims to bridge this gap by using Smart Search technology to analyse open banking data and recommend personalised funding, insurance, energy, and banking options.
Jamie Stewart, founder and CEO of binq, emphasises the importance of SMEs in the UK economy and society, employing 16.6 million people and turning over £2.8 trillion annually. Binq's mission is to make it easier for people to start, manage, and grow their businesses, by providing support in finding funding, switching suppliers, and staying on top of finances.
Simon Kay, Chair of Intelligent Lending, considers binq a brilliant new addition to the group, following their recent acquisition of TotallyMoney and move to Salford's MediaCity, a global hub for media and tech innovation. With 75% of binq's users choosing to work with Ali, the future of SME support looks brighter than ever.
SME owners seeking comprehensive business support may find it on ffnews.com, as the binq app, developed by Intelligent Lending Limited, offers a fusion of finance, business, and technology solutions. By integrating multiple tools into a single platform, binq's AI-driven technology streamlines operations, aids in financial management, and even recommends personalized funding options.
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