Finance Monthly. The Monthly Round-Up 14 TINK AND AN POST EXPAND PARTNERSHIP TO MAKE FREE MONEY MANAGEMENT SERVICES AVAILABLE TO ALL Tink, the market leader in open banking, has announced the expansion of its existing partnership with Irish postal services provider An Post. Just 16 months since the initial partnership was announced, An Post’s free Money Manager smart budgeting tool is now available to everyone in Ireland, expanding access to the service beyond solely An Post Money customers. Using Tink’s open banking technology, the Money Manager smart budgeting tool securely links people’s current accounts and credit cards from all major banks in one place, giving them a deeper understanding and more holistic view of their financial behaviour over longer periods of time. Completely personalised, it allows users to better manage their savings and set budgets to stay on track with their financial goals. To facilitate this, spending and budget alerts show users when they are approaching their personally-set limits enabling them to adjust their spending accordingly. They also receive useful insights into things such as unusual transaction patterns and can categorise spending into different categories so that money can be mapped and tracked on an ongoing basis – helping to reduce financial surprises. BIBBY FINANCIAL SERVICES PROVIDES FUNDING FOR COMPARISON TECHNOLOGIES TO ENABLE MANAGEMENT BUYOUT Independent funder, Bibby Financial Services (BFS), has supported major telecommunications comparison company Comparison Technologies with a multi-million pound funding line, in order to facilitate a management buyout. Headquartered in Maidstone, Kent, Comparison Technologies is a leading independent comparison, switching and customer acquisition platform in the UK. It delivers 300,000 customers and over £250 million lifetime value annually to its industry-leading partners operating in the Pay TV, broadband and mobile markets. In July, the business required a new funding partner to enable a management buyout, and support its continued cashflow to allow subsequent growth - and was introduced to BFS’ Corporate team by Darren Miller and Bilal Hasan at FRP Corporate Finance. Led by Corporate Sales Manager Michael Reid, BFS provided a multi-million pound Invoice Discounting (ID) package. BFS was chosen as Comparison Technologies’ funding partner due to its understanding of the business’ requirements, and its ability to quickly offer a flexible facility structure. Peter Callander, CFO, Comparison Technologies said:”As we enter a new era of the business, it was crucial that we partnered with a funder that recognised our specific business needs and our vision for the future. The team at BFS have exceeded our expectations, and I am excited about what is ahead for Comparison Technologies with BFS at our side.” Darren Miller, Partner, FRP Corporate Finance added: “Comparison Technologies is comprised of a team of hardworking and dedicated professionals, evident in the management buyout that took place in order to take the business forward. We’re delighted to have advised the management team on its MBO, and to have facilitated this partnership with BFS, which proved it was the best fit due to its attitude, flexibility, and commitment to matching the business’s needs.“
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