Intelligent SME.tech Issue 21 | Page 7

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Agility Bank opens as first minority depository institution in the us led by women
Mastercard research shows key technology solutions that are removing SMBs ’ biggest barriers
Agility Bank has announced that it has received all regulatory approvals to open as the first bank in the US primarily owned and led by women under a special charter by the Office of the Comptroller of the Currency .
Through this Minority Depository Institution ( MDI ) charter , Agility ’ s focus will be on serving women and all small and mid-size businesses .
Lauren Sparks , Founder , President and CEO of Agility said : “ There are more than 200,000 small businesses in the Houston region today and that number is growing – many will be owned or started by women . Minority and womenowned businesses are growing at a rate faster than any other group . We are going to be there to support the growth , opportunities and success of these and all business owners .”
Mastercard ’ s newest report , Empowering Small and Midsized Business Growth by Unleashing Their Data , brings to life the challenges facing small business owners and the opportunity presented by open banking .
As FinTech use among small businesses grows , open banking is leveraging the power of data to address key pain points and tackle critical needs such as faster ways to send and receive payments .
To maintain agility to stay in business , many SMEs are increasingly turning to technology . Open banking is emerging as a powerful solution to fuel new and improved FinTech innovation for business owners . Open banking is reimagining the way business owners can utilise their own financial data to help them make informed decisions , prove their ability to pay back a loan and simply run their businesses more effectively and efficiently .
Start My Business platform launches to help entrepreneurs build their businesses
Start My Business – an all-in-one business creation platform – has launched , offering entrepreneurs a complete range of services to build and launch their companies .
Start My Business offers entrepreneurs two key services including free digital tools to help create and launch a business , supporting every step of the way , as well as a free checklist to highlight the core components required for a successful business .
With the free tools , such as Business Plan , Mobile App Builder and Social & SEO , entrepreneurs have full control of business creation all in one place , serving as a core hub to launch a new business .
Start My Business has a number of key partnerships with companies in the financial , business , marketing , legal and technology sectors , while also expanding their partnerships to host referrals for innovative free tools for business creation and constantly elevate the platform .
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