Connecting the disconnected through innovative fintech solutions

Cartoon illustration of crumpled paper, loose change, forms, a bank card, and a mobile phone capturing a receipt. The scene is messy.

Organisations, government departments and consumers continue to navigate outdated systems and processes to complete mundane tasks.

It’s often the case that the latest in technological innovation is naturally embedded within new products and systems as they are designed, developed and introduced to the market.

This is all well and good, but what about those systems which are so entrenched in the ways that we all live and work, that organisations and individuals simply “put up” with the laborious processes associated with them?

This is undoubtedly the situation we find ourselves in with the financial reconciliation of payment data.

All too often, we see situations where organisations, government departments and consumers are left to navigate outdated systems and processes to, for example, manually reconcile payments for book-keeping and tax compliance purposes.

This is the challenge that Streeva is seeking to overcome by augmenting existing payment systems to allow fully secured communication without requiring changes to the underlying payment systems. Essentially, we are transforming payments from simple money exchanges into events where relevant data is passed securely and privately within the context of a transaction, abolishing the need for time-consuming and complex paperwork trails.

Abstract illustration of a payment taking place with information being passed through a network to other entities.

We have developed a seamless API platform to remove the frustration of having to manually input and reconcile payment data.

This seamless API platform integration - adding a secure layer to an existing network - brings an important benefit in addition to removing the frustration of having to manually input and reconcile data, and that is that of ensuring compliance. Through data being embedded within the payment process - rather than relying on external sources - systems can avoid errors and inefficiencies that may arise from manual or disjointed processes. This helps both organisations and individuals navigate the complex world of complying with tax legislation in different countries, and gives reassurance that they are meeting the requirements of their tax obligations.

Bridging this data gap allows all stakeholders involved in the payment to communicate efficiently, informing and settling the tax position of the transaction in real time and shifting the liability away from individuals for book-keeping, tax reporting and settlement.

Illustration of a small robot named Swifty holding balloons.

Millions of UK taxpayers are registered with our Swiftaid solution, which ensures that charities automatically receive Gift Aid.

We’ve already demonstrated that this integration works well in practice. Millions of UK taxpayers are registered with our Swiftaid solution, which ensures that charities automatically receive Gift Aid, the UK tax benefit that boosts charitable donations by 25%. Our solution was set against the backdrop that over half a billion pounds of Gift Aid is missed every year - a hugely significant amount for both charities and donors in terms of vital funding and positive tax implications, respectively. To date, we’ve helped charities recover millions that they otherwise would have missed.

Cartoon illustration of the British Isles with a face and arms. One hand flicks a coin while the other places a coin in a pocket labeled VAT.

We are working with HM Revenue and Customs (HMRC) on a split-payment solution to tackle international inefficiencies in the system.

Alongside our Swiftaid solution, we are working with HM Revenue and Customs (HMRC) on a split-payment solution to tackle international inefficiencies in the system. Following a highly competitive tender in 2023, we were awarded a £1.75m contract with HMRC to explore how our technology could be used to directly extract VAT payments for goods and services bought by UK residents from overseas sellers at the point of purchase. This project, which will run until early 2025, seeks to address the £1.5 billion that the UK economy loses every year to overseas sellers that fail to pay the VAT due when selling in the UK.

Cartoon illustration of the world with arms, legs, and a smiling face, holding a heart-shaped balloon.

Our purpose at Streeva is to create a future where everyone has more time, is in full control of their data, and no one is left behind.

Our purpose at Streeva is to create a future where everyone has more time, is in full control of their data, and no one is left behind – whether that be charities, consumers, businesses or governments. By connecting the currently disconnected through the secure automation of data within transaction processes, we are streamlining and improving the digital payment system for everyone.

Organisations, government departments and consumers continue to navigate outdated systems and processes to complete mundane tasks.