“First in the world’’ mobile bank for SMEs launches in UK

Tide, a British start-up, launched its mobile-first banking service. Tide aims to make the banking process more efficient for SMEs, positioning itself as the “world’s first” mobile focused bank catered to entrepreneurs.

According to the founders, the service allows a user to open an account in five minutes and operates with no setup or monthly fees, instead charging small flat rates for bank payments and withdrawals.