Sasfin has launched ‘B\\Yond’ (Beyond), a digital banking platform built to enable entrepreneurs to grow their businesses.
The platform aims to handle the most onerous financial admin that often swamps small business owners and distracts them from other important facets of their business – such as focusing on clients and driving revenue.
The bank said that the platform’s features are designed in such away that small business-owners never need to set foot in a branch again.
The service includes many value-added services at no additional cost, such as:
- Online applications: Businesses with multiple shareholders and directors can apply online, by uploading documents and signing the application digitally.
- Payroll: A simple-to-use and SARS-compliant payroll function enables business owners to perform their own payroll management.
- Invoicing: Businesses can create and send personalised quotes and invoices directly from the platform.
- Insights: Smart dashboards generated through clever account and transaction classification and tagging helps manage revenue and expenses, and keep track of projects.
- Integrations: Direct-feed integration into Xero ensures that small businesses and their accountants can safely and seamlessly connect their Sasfin Bank transactional data with Xero, the fastest growing cloud based accounting software provider in the world.
“While there is much in store for the next versions of Beyond, the platform currently offers business leaders the basic tools they need to run their businesses smoothly in one place at no additional cost, with the ability to bank at their convenience,” said Sasfin CEO, Michael Sassoon
“Sasfin has always existed to serve the entrepreneur and investor, the two key drivers of the South African economy and it bothers us that there is such a high failure rate of entrepreneurs in our country. We have spent the last three years building Beyond – a future fit digital banking platform to help these entrepreneurs,” he said.