Barclays offers firms chance to pool their business data
Barclays has overhauled its Business Banking Online service by collaborating with leading app providers to enable companies to import all their business data - including marketing and analytics - into one dashboard within its online banking site.
Using APIs and open data, the SmartBusiness Dashboard enables businesses to import their existing apps or download new apps, from a range of providers across marketing and analytics, bookkeeping, sales, and workforce management. The move is part of the bank’s investment in digital solutions, to support the needs of business owners in managing their finances and their business.
The bank cites the example of a retail customer, who will be able to securely log in to their online banking and view not only their financial information, but bring in their product sales data, website analytics and staffing rotas, all alongside their cash flow. Barclays claims this will boost business productivity and save owners valuable time.
Mike Hayden, head of SME banking for Barclays, said: “This is a significant step in transforming day to day banking - meaning SMEs can see everything about their finance and data about their business in the one place. Busy business owners shouldn’t have to spend time sorting through different spreadsheets, reports or switching between apps – we’ve created a tool to give businesses time back – and this is an efficient way to run and grow their business.
“In giving businesses the choice to import their data and working closely with partners through the platform, we believe this is a game-changer and will boost competition. No other bank is offering this to businesses. Crucially, if you are a business owner this is a safe and easy way to access a range of data about your business, putting control firmly in the hands of businesses.”
to be GDPR compliant.
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