TSB launches open banking payments app ’Revenu’

TSB has been known by its marketing tagline for more than 30 years as the ‘bank that likes to say yes’. The history of incumbent banks in general in more recent years embracing change has been more mixed. 

With the launch of its new payments app ‘Revenu’ today, which allows small businesses to receive quicker payments, TSB is hoping to change that perception.

Revenu allows TSB’s business clients to collect customer payments from requests sent via SMS, WhatsApp, email and even QR codes. 

“Britain’s small businesses have shown incredible resilience to brave the tough trading climate under the pandemic. By launching Revenu, we are proud to further help their recovery, and future growth,” said Adeel Hyder, Business Banking Director, TSB.

“Our latest digital solution will provide a vital boost to cashflow, while equipping customers with essential business management tools – at a time when these hard-working businesses need support the most,” Hyder added.

The launch of Revenu comes through TSB’s partnership with BankiFi, a Manchester based fintech that recently raised £2.2m from Praetura Ventures and Greater Manchester Combined Authority (GMCA) in 2021.

The app uses open banking infrastructure and also connects to existing accounting software to streamline invoice management.