UK-based embedded banking services provider BankiFi has launched BankiFi Americas to expand operations in North America.

The move is part of BankiFi’s plans to support the digitisation and payment modernisation requirements of SMBs.

BankiFi partners with banks and financial institutions to provide digital workflows that enable faster payments, automate data integration with accounting platforms, and provide insight to optimise working capital.

BankiFi CEO and founder Mark Hartley said: “SMBs in the US are facing the same problems we have seen in the UK and Australia, including late payments and time delays due to financial administration.

“Within our technology, we aim to transform services available to SMBs within community banking, across the US.”

BankiFi Americas will be led by Keith Riddle, who brings more than 35 years of experience in the financial industry.

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He has worked as an executive at Sherpa Technologies and several firms specialising in digital banking, bill presentment and payment, EFT processing services, wholesale financial services and cloud computing.

BankiFi Americas CEO Keith Riddle said: “I am delighted to take the reins at BankiFi US and build on what the UK team is doing in terms of digitising the critical small business workflows and embedding the solution within financial institutions’ digital channels, in what is certainly an exciting time for the sector.”

In June 2021, BankiFi launched operations in Australia to enhance business banking for small businesses and community financial institutions.