{"id":37212,"date":"2023-10-20T14:48:45","date_gmt":"2023-10-20T14:48:45","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-a-sydney-fintech-secured-a-world-first-partnership-with-a-big-four-bank-startupsmart\/"},"modified":"2023-10-20T14:48:45","modified_gmt":"2023-10-20T14:48:45","slug":"how-a-sydney-fintech-secured-a-world-first-partnership-with-a-big-four-bank-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-a-sydney-fintech-secured-a-world-first-partnership-with-a-big-four-bank-startupsmart\/","title":{"rendered":"How a Sydney fintech secured a “world first” partnership with a big four bank – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

A Sydney founder says offering a simplistic product that’s easily integrated with other businesses was the key to his startup securing a string of high-profile corporate partnerships.<\/p>\n

Point of sale platform Kounta’s latest partnership is with Commonwealth Bank Australia, which will see\u00a0its app now integrated with CBA’s EFTPOS tablet Albert.<\/p>\n

On a mission to make it easier for merchants to cost-effectively implement technology that helps them better run, manage and grow their businesses, Kounta founder Nick Cloete says making this process as simple as possible was critical.<\/p>\n

\u201cFirst and foremost, Kounta was developed with the customer in mind,\u201d Cloete tells StartupSmart<\/em>.<\/p>\n

\u201cWe\u2019ve got a really flexible and scalable platform.”<\/p>\n

Cloete says the new partnership with the big four bank is a “world first” and will give hospitality and retail businesses a new way to manager their stores more efficiently.<\/p>\n

\u201cIt\u2019s nice to see the work that we put into the platform is going to be recognised around the world by providing a really innovative and valuable experience to all different types and sizes of merchants,” he says.<\/p>\n

Through cloud computing, Kounta on Albert will enable businesses to simultaneously process payments, manage tables, take orders, split bills and update inventory on a single device.<\/p>\n

The partnership is a great example of using innovation to boost client outcomes,\u00a0Executive general manger of CBA\u2019s local business banking Clarie Roberts says.<\/p>\n

\u201cPractically, it means staff can be interacting with customers in a more efficient and personable way because they don\u2019t\u2019 need to be using multiple systems or devices,\u201d Roberts says.<\/p>\n

How Kounta partnered with a big four bank<\/h3>\n

Kounta was built for business owners, not a big four bank, Cloete says.<\/p>\n

\u201cWhen CBA announced they were working on that other device and we were doing what we were doing in point-of-sales, we were both providing solutions for the retail and hospitality space,\u201d he says.<\/p>\n

After realising the opportunity that could come from fusing their point-of-sale app with CBA\u2019s payment technology, Cloete says it was a \u201cno brainer\u201d to form a partnership.<\/p>\n

\u201cWe worked hard to develop the Kounta platform so it can integrate with existing technology like what the big four banks are working on,\u201d he says.<\/p>\n

\u201cWe just had to show them our technology and company was capable of working with them.\u201d<\/p>\n

Because Kounta is built for integration with other businesses, Cloete has been able to continually grow a wide range of partnerships with\u00a0the likes of Hey You<\/a>, Rewardle<\/a> and Mobi2Go<\/a>.<\/p>\n

In addition to taking on big strategic partners like CBA, Xero, MYOB and QuickBooks, Cloete says the startup’s\u00a0priority is meeting the needs of the many small businesses that have integrated their app.<\/p>\n

\u201cIt\u2019s used by thousands and thousands of business in Australia and around the world,\u201d he says.<\/p>\n

The startup’s\u00a0focus now is to continue to grow in Australia and New Zealand while also expanding into the US where they have an office base in the San Francisco.<\/p>\n

\u201cWe want to make sure Kounta is in as many businesses as possible and is helping improve the success of each and everyone of those businesses,\u201d Cloete\u00a0says.<\/p>\n

\u201cApart from that, it\u2019s a crystal ball.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook<\/a>,<\/em> Twitter<\/a>,<\/em> LinkedIn<\/a><\/em> and<\/em> Soundcloud<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A Sydney founder says offering a simplistic product that’s easily integrated with other businesses was the key to his startup<\/p>\n","protected":false},"author":2,"featured_media":61966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/37212"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=37212"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/37212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61966"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=37212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=37212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=37212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}