UK bank, NatWest empowers fintech MuchBetter‘s B2B offering, MuchBetter Business (MBB), to help firms requiring access to essential banking services.
Looking to improve the B2B marketplace, MuchBetter is launching B2B banking services which will offer an ecosystem of services customised for modern business needs. By partnering with NatWest, the fintech is improving its ability to serve enterprises facing challenges in accessing conventional financial services, especially those in specialised sectors or those seeking commercial alternatives.
Aligning with a reputable tier-one bank like NatWest assures MuchBetter Business customers of the security of their funds. With NatWest’s established reputation and strict regulatory adherence, businesses can trust that their assets are safeguarded in dedicated accounts. Furthermore, NatWest will deliver essential fund safeguarding, access to payment schemes, foreign exchange capabilities and comprehensive banking support for MuchBetter Business’s Corporate Business Account offering.
“This collaboration with NatWest marks a major milestone for MuchBetter Business as we expand our B2B offering and underscores the credibility of what we’ve built at MuchBetter,” said Gary Hill, CIO of MuchBetter. “We’re proud to offer a robust B2B solution that empowers businesses. Partnering with an esteemed institution like NatWest reinforces their confidence in our offerings and our vision for the future of business banking.”
MuchBetter Business offering
MuchBetter Business Accounts are tailored for diverse enterprises, enabling them to manage financial activities seamlessly across multiple regions. These accounts offer operational and segregated options in 35 currencies, facilitating international trade.
As a direct member of SWIFT, MuchBetter ensures secure and efficient cross-border payments while complying with robust regulatory standards. This membership fosters trust and transparency in transactions, allowing MuchBetter to leverage NatWest’s services to elevate the overall banking experience for its corporate customers.
MuchBetter Business’s offering includes access to:
- Business Operational Accounts, with qualifying licensed entities receiving a complimentary dedicated safeguarding account
- Advanced web and mobile banking apps for efficient account management and payments
- Accounts in 35 currencies, enabling companies to execute FX transactions with attractive rates
- Global payment capabilities for UK domestic, Eurozone, and International payments
- An accelerated onboarding process that adheres to KYB regulatory requirements, streamlining the time from application to activation
A partnership opening the door to future collaboration
MuchBetter’s technological expertise is showcased in its modern, Temenos-powered banking platform, which enables smooth digital onboarding and provides customers with full control over their accounts through intuitive mobile and web banking applications.
Not only does the NatWest partnership enable MBBs payment offerings but it also creates exciting possibilities for future services and enhancements. MuchBetter Business remains committed to competitive fee structures and personalised customer support, positioning itself to effectively meet the needs of customers.
Ritu Sehgal, head of transaction services and trade at NatWest, stated: “NatWest chose to collaborate with MuchBetter due to its compelling business case, supported by an impressive track record of success. MuchBetter’s advanced bank-grade technology and experienced team further reinforce its position as a reliable and innovative partner. Together, we are well-equipped to deliver exceptional financial solutions tailored to the unique needs of our clients.”
