FinTech LIVE: Interview with Chip Mahan and Andrea Reynolds

The flagship event of the global FinTech LIVE series, FinTech LIVE London 2024 was dedicated to inspiring and empowering C/V/D level fintech executives in enterprise organisations. 

Our hybrid FinTech LIVE London 2024 event provided a dynamic and interactive online platform, allowing attendees to connect, learn, and exchange insights on the latest trends, challenges, and best practices in fintech and financial services.

Cultivating a vibrant atmosphere, FinTech LIVE London enabled fintech leaders from the UK and Europe to forge connections and delve deeper into the most pressing fintech issues facing their organisations. 

Here, we recap our exclusive FinTech LIVE London interview with Chip Mahan, Global Head of Fintech Strategy & Operations at Sage and Andrea Reynolds, CEO at Swoop.

What are some key points that you discussed on stage?

CM: We were just discussing embedded finance and our partnership with Swoop. One of the biggest challenges small businesses face is access to cash. Traditionally, banks deny small business loan applications over 80% of the time. Through our collaboration with Swoop, embedded directly into Sage’s accounting software, we’re providing customers with a full market view of available funding options. This streamlines access to cash and empowers businesses to overcome financial barriers.

AR: Exactly. One major barrier is that customers often don’t know where to go when they need finance. By integrating Swoop into Sage’s platform, we’re meeting customers where they are – inside their accounting software. They can identify their funding needs and access solutions seamlessly through embedded finance.

For Swoop, this partnership is transformative. It improves the customer experience, delivers real value to Sage’s users, and serves as an excellent customer acquisition channel for us. Partnering with a trusted brand like Sage is an incredible way to accelerate growth, especially for a fintech looking to scale.

Can you tell us about Swoop’s virtual CFO and how the partnership with Sage enables that? 

CM: The key is simplifying the process. Instead of business owners spending hours researching loans, tracking down funding or hiring external advisors, we provide everything they need within a single platform. From cash flow forecasting to funding solutions, it’s all accessible directly through their Sage accounting software. Customers don’t need to leave the system.

AR: For us, it’s about leveraging the power of accounting and banking data. If I apply for a loan, the first thing a lender will ask for is my accounts. By partnering with Sage – the leading accounting software for small and medium businesses – we’re solving the problem at its root.

It wasn’t an overnight partnership. When you’re a trusted, global brand like Sage, you need to carefully choose who to work with. Over the last two years, we’ve built a deep and successful relationship that genuinely benefits customers.

What are your key takeaways from FinTech LIVE?

CM: This is my first time at Fintech LIVE, and I was blown away. The event was standing-room only, which I didn’t expect, given the virtual attendance option. It’s fantastic to see so many colleagues, customers, and fintech professionals coming together to learn and collaborate on the future of fintech.

AR: Fintech LIVE has been an incredible success. It’s not just about the crowd but the quality of conversations and debates. We’re picking up on emerging trends and learning how others are innovating in the market. My key takeaway? The future of fintech is extremely bright. Today’s discussions and opportunities are truly inspiring.

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