Virgin Money has partnered with New Zealand-based FinTech company 9Spokes to help support the development of the former’s business banking proposition.
Founded in 2012, 9Spokes markets a business tracker which the company claims gives its customers a single, 360-view across everything from finance and marketing to HR and inventory, helping its customers drive their business forward to hit their goals.
According to Virgin, 9Spokes technology will provide Virgin Money’s business customers with a comprehensive view of their business by bringing all the relevant information into a bespoke and customisable dashboard.
Virgin added this data-driven offering will be delivered through its partners’ business management platform, which involves its track, connect and explore management tools.
The company also noted that its partnership with 9Spokes will be at the heart of its working capital health proposition which is anticipated to launch next year. This proposition will supposedly transform Virgin’s existing business current account offering and offer customers a personalised financial wellness tracker.
Virgin Money group business director Gavin Opperman said, “As we develop our transformed business current account, we have brought together knowledge through partnerships with pioneering FinTechs. The skills, expertise, and technology that 9Spokes brings are crucial to our mission to deliver an innovative business banking proposition.
“The 9Spokes team’s approach and shared vision to enable our small business customers to understand their company’s financial health make them a perfect fit to help bring our new proposition to life.”
9Spokes co-founder and CEO Adrian Grant added, “To be selected as a technology partner with Virgin Money is testament to 9Spokes’ relevance in today’s quickly evolving market. It validates our proposition, our products, and notably our team, which is committed to delivering an essential service to digitally-mobilised SMEs and strengthening that intrinsic SME-bank relationship.
“Already, we have had the opportunity to collaborate with the Virgin Money team on their wellness tracker and along the way, we have worked and integrated with some of their key technology partners — including Codat and Fluidly. The work undertaken to date has enabled us to highlight how we’re building on our robust data infrastructure — propositions such as Monitor, which enter that core banking segment.
“But this is simply the beginning. We’re committed to ongoing platform and marketing innovations, and the long-term roadmap is exciting, to say the least. We’re looking forward to developing the partnership and, together, our proposition over the coming years.”
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