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Friday 09 August 2019

*HotViewsExtra* Coconut cracks tax and accounting admin

CoconutI recently visited the folks at Coconut, the app-based banking and accounting app aimed at the UK’s growing self-employed workforce. From its offices in Shoreditch, Coconut provides its customers with a current account equipped with functionality that automatically takes care of their routine tax and accounting administration.

The SME segment is increasingly seen as one of the key battlegrounds for UK banks, with many of the new wave of Open Banking services focused upon it (see: Open Banking momentum starts to build). A recent survey of SMEs by global financial services provider, Finastra, revealed that 49% of those aged under 45 are likely to switch banks in the next 5 years.

Coconut has had an encouraging start to life and to date has attracted more than 12k customers and processed customer payments totalling more than £100m. TechMarketView clients, including UKHotViews Premium subscribers, can learn more via HotViewsExtra (see: Coconut cracks tax and accounting admin).

HVP

Posted by: Jon C Davies

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