Regional Australia Bank (RAB) and financial management platform Thriday have teamed up to provide SMEs end-to-end control of their finances on the latter’s new Banking-as-a-Service (Baas) platform. It will be achieved by covering banking, invoicing, expense management, and payments on a single platform. Once SMEs open a transaction account on the new platform, RAB will issue the account alongside a Visa Debit card. As the platform’s AI and ML can automate bookkeeping and accounting, all income and expense data will get analyzed in real-time and used to automate various tasks such as scheduling bill payments and forecasting cash flows, among others.
