Andrea Reynolds

Andrea Reynolds

Job Title:
CEO and Founder
Company:
Swoop
Meet Andrea Reynold

Andrea Reynold’s career started as an accountant with KPMG before joining their management consultancy division. She left to start her own corporate finance consultancy, where for over 10 years she raised funding for businesses across loans, investment and grants, which is what led her to launch swoopfunding.com. Andrea is also a non-executive director for Berkshire Hathaway European Insurance.

SWOOP

The one-stop money shop for your business.
Swoop is here to simplify and speed up the process businesses go through to access grants, debt and equity.

Apply for financing in one fell swoop.
Tap into our network of lending providers, equity funds and grant agencies. It’s a quick and easy way to get the funding that best matches your needs.

Get matched to 1000’s of funding providers.
Swoop combines it’s advanced matching algorithm with decades of funding experience to identify the best options for your business. We do the heavy lifting across the entire application process so you can focus on building your business.

Buy your tickets to the International SME Business Banking-Fintech Forum 2019 here

We ask Andrea Reynold the following questions

Why should banks focus on SME Banking?

99% of all businesses are SMEs yet they have traditionally been the most underserved and overcharged market segment in banking - all this is changing with Open Banking so banks are now beginning to focus their attention on SMEs, or risk losing them to the challenger banks and alternative lenders.

Should banks reconcile themselves to being players in the new ecosystem rather than drivers of SME lending?

Banks still have the brand equity and trusted relationship with their SME customers so they are well placed to provide a marketplace offering to their customers while at the same time being a supplier within that marketplace. We are seeing this trend quite a bit with our partner banks.

What potential do you see for Open Banking and PSD2 (and its equivalents in other regions) to drive new possibilities for SME banking?

SME Banking is evolving from a transactional relationship to one where financial and treasury management tools will be available just as they are for large enterprises. SMEs will be able to access better FX rates, deposit interest rates, free financial management and cash flow prediction tools, and will be able to access investment, loan and grant facilities all in one place due to the ability to integrate their various financial data sources and share them securely with third parties.