SME Bank, the bank making life simpler for small- and medium-sized enterprises, has partnered with next-generation payment infrastructure provider kevin. to create an easy-access one-stop-shop for e-commerce business owners seeking a range of online payment capabilities for customers, with payments into a single business account, combined with collateral-free growth financing. 

Until today, merchants needed to turn to multiple providers to assemble these core requirements, resulting in lost time and unnecessarily complex administration. The combined offering from SME Bank and kevin. simplifies life for SME owners. It creates a single point of entry for payment infrastructure enabling account-to-account payments all across the Baltics, as well as revenue-based financing based on e-retailers’ expenses and profit. 

The payment collection options on offer include an open banking-based Payment Initiation Service (PIS) enabling instant, cost-effective and end-user-friendly collections from majority of consumer with an account at a bank in the European Economic Area (EEA). Free open banking plugins from major ecommerce providers, including WooCommerce, Prestashop, Opencart, and Magento, make integration simple and extremely fast — all with zero customized IT development. 

In addition, AI-driven revenue-based financing decisions are available in under 24 hours and include collateral-free loans without personal guarantees. To help promote growth, the amount of financing available grows proportionally to the applicant’s business demand.

Mantvydas Štareika, CEO at SME Bank, comments: “SME Bank exists to make life easier for SME owners and we use technology, where it makes sense, to achieve that. By partnering with fintech kevin. and its open banking integrations we are combining many things that SME owners need into a single platform: fast payments, significantly reduced transaction costs and ultra-fast, AI-guided finance decisions. Our partnership will save owners time, help them grow faster, and reduce costs.”

Tadas Tamošiūnas, co-founder and CEO at kevin., says: “We are delighted that SME Bank opted for our innovative and robust payment infrastructure to enable their clients to make the most out of Open Banking. Here at kevin., we are committed to driving the future of payments and are always thrilled when partners such as SME Bank join us on this mission.”