Company: ANNA Money
Co-Founders and Co-CEOs: Eduard Panteleev, Boris Diakonov
Website: https://anna.money/
About ANNA Money
When did ANNA start?
ANNA (Absolutely No-Nonsense Admin) is the AI-powered business account that does your taxes. It was conceived in 2017 when the founders observed how much small businesses struggled with complicated financial admin. ANNA’s faff-free, affordable, time-saving solution now supports 100,000 UK SMEs.
What is ANNA’s USP?
ANNA has been using AI long before it was the buzzword it is now. Right from the start, ANNA used groundbreaking AI to take on the boring, repetitive financial admin tasks that SMEs have to perform to stay organised and compliant.
Machine learning enables the app to process text commands in natural language into skills. Meaning that most tasks – from creating and paying invoices to setting up direct debits and downloading statements – can be accomplished via the highly sophisticated in-app chat function. The customer simply asks in the chat for a task to be done – Send an invoice to PinPep Ltd for £1,000 – and it is done in seconds. The app will automatically chase the recipient for payment, too.
Smart AI has enabled ANNA to be a market leader in the tax SAAS space, with taxes prepared for filing, VAT estimated and set aside, pay roll sorted and corporation tax saved. All for a fraction of the cost (£24 +VAT/month) that a traditional accountant would charge, saving ANNA customers time, hassle and stress.
ANNA is also using AI to create industry-leading security. ANNA is one of the first financial institutions in the UK to implement trail-blazing biometric re-authentication procedures to stop criminals from using accounts they have illegally accessed. This is usually a request to take a selfie and because the criminal’s face won’t match the original account owner’s, the account is suspended. Take that phone snatchers!
On an operational level, AI gives ANNA customers an outstanding and market-leading level of speed and efficiency: automation of customer chat queries is at 83%, freeing up the 24/7 human customer service team to respond to more complex requests in less than one minute (monitor the live response time here).
What’s next?
In March 2024 ANNA acquired Sydney-based fintech GetCape, a business spend management platform. This brand and its products have now been absorbed by ANNA, which has just soft-launched in Australia. The full ANNA service is set to be available in Q3 of 2025.
The potential for the ANNA of the future is huge – that “accountant in your pocket” is just going to get smarter and more useful. Think insights to help customers navigate their business finances in an organised, optimised and efficient way. Accounts will be analysed in real-time, with accounting advice tailored to each specific business – eg. how they can make savings in December when sales are usually low.
ANNA’s goal is to support businesses worldwide with its cutting-edge technology and user-friendly platforms. The more advanced the tech becomes, the more capability there is and the more potential to deliver on a huge scale while still maintaining exceptional customer service.
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