Open Banking Expo has partnered with SME payments platform Comma, which is on a mission to make it easy for small and medium-sized UK businesses to pay salaries, taxes and invoices.
Comma, which has received backing from Village Global and Octopus Ventures among others, is working closely with the major UK banks to provide the best solutions for SMEs and to “push the boundaries” of Open Banking.
Tom Beckenham, founder and CEO of Comma, said: “It’s great to formalise our relationship with Open Banking Expo.
“Comma is an Open Banking-based platform designed to help SMEs automate antiquated payment processes by connecting business bank accounts to accounting data, such as payroll or invoice information.”
He added: “Open Banking Expo is the perfect fit to connect with the leaders and innovators in this space, and discuss the breakthroughs we have as we move the needle on the delivery of Open Banking and embedded payments for businesses across the UK and the world.”
Adam Cox, co-founder of Open Banking Expo, added: “We’re delighted to welcome Tom and the team to Open Banking Expo UK later this year. Comma’s proposition sits right at the core of innovation when it comes to Open Banking and embedded payments and this will be a key feature when the event returns to the Business Design Centre and, as such, presents a stellar partnership opportunity.”
Last year, Open Banking Expo caught up with Beckenham to find out what the fintech is doing to solve SMEs’ bulk payment problems.
Beckenham also explained the origins of the business, which he founded in 2020, after becoming aware that “corporates had access to certain sorts of systems, such as corporate banking and all sorts of other billing systems, which small businesses had no access to at all”.
“For me, it’s about doing something for smaller businesses that will help them and the whole Comma team is focused in that manner,” he said.
“It’s always been about the customer, solving problems for them and doing it using new technology. I think Open Banking has opened up so much, it has enabled us to solve this problem in a way that’s never been tried before.”
Open Banking Expo announced a partnership in November 2021 with the Financial Data and Technology Association (FDATA), a leading fintech industry lobbying organisation, to help support, promote and foster a global Open Banking and Open Finance community.