The SME sector in France has come a long way in recent years. These commercial structures are now aware of the importance of adapting to consumer demand for digital services. One solution for SMEs?
TheEmbedded Financeor Embedded Finance! This booming market is estimated to be worth $43 billion worldwide, and should reach $230 billion by 2025. These financial services represent a unique growth opportunity for companies, and particularly for SaaS platforms.
What isembedded finance?
Embedded Finance is a digital solution for commercial players other than financial companies. In concrete terms, customers are offered financial services on the platform they use to make their purchases. They can, for example, take out insurance or loans, or obtain payment facilities in complete transparency.
Deliveroo and Uber are just a few examples of online businesses that use their sales platforms to offer their customers financial services. These opportunities are aimed at all customers, whether individuals or professionals, with the aim of supporting their growth.
Embedded finance: what are its uses?
Here are just a few examples of the financial services that platform users can be offered:
- Home loan simulation and underwriting with rapid response.
- Consumer loans with payment in instalments on the market's leading e-commerce sites.
- Taking out insurance for the latest consumer goods on high-tech e-commerce sites.
- Take out home or rental insurance on real estate advertising platforms.
- Purchase of travel insurance on vacation booking sites.
- Buying car insurance on car parts websites.
Embedded finance: What are the benefits for SMEs?
Embedded Finance, integrated into an online sales platform, enables a privileged banking relationship with the customer. The user experience is fluid and personalized, enabling the platform to offer financial services perfectly tailored to the buyer's needs.
With their varied needs, SMEs are looking for financial partners with a high quality of service, faster than that offered by traditional banks.Embedded Finance enables them to use banking services whenever and wherever they want. They no longer have to log on to a different website to carry out any banking operation!
SMEs are major consumers of online platforms. Indeed, managers are often connected to e-commerce sites, social networks, financial management software, or even professional collaboration sites. Many of these platforms deliver financial services with low integration and operating costs. These low costs enable companies to strengthen customer loyalty.
Real-time notifications of payments made, direct integration with their own connected accounting software, simplified invoice payment service... SMEs find many advantages in using the Embedded Finance services offered on SaaS platforms, which are forging partnerships with the big names in online sales. As you can see, SME management becomes intuitive and profitable.
Whyintegrate Embedded Finance into your SaaS platform?
AlthoughEmbedded Finance is still a little-known term for many French people, its services are not new. The most obvious example is the App Store service. IntegratingEmbedded Finance into your SaaS platform is an excellent idea for small and medium-sized business owners, and one that will enable you to rapidly expand your customer base! In fact, 88% of companies that have implementedEmbedded Finance report increased customer engagement. 85% even declared that they had gained market share 1.
Four players are involved when using an Embedded Finance service:
- The online sales platform
- The SME that chooses financial products
- Software suppliers for SMEs
- Startups that provide financial services
With the advent of Embedded Finance, we are seeing the development of judicious associations between fintechs and Saas. The latter now offer their customers financial services in addition to their traditional ones.
These services will enable these two industry players to support their customers in the development of their business structures, thanks to new offerings. For example, they will be able to offer their customers accounting software, integrated lending operations and omnichannel payment solutions.
A SaaS platform that chooses to offer banking services to its customers via its traditional services opts to modernize its offering. As a result, it generates an additional revenue stream thanks to the diversity of its services. What's more, these services potentially last longer, since they are offered in digital format.
Embedded Finance services represent a trend that offers SaaS platforms great opportunities for growth. Thanks to customized offers tailored to customer needs, these new financial facilities are set to profoundly transform the banking sector!
Who we are
With more than 60,000 customers, Easytransac capitalizes on a decade of expertise in various payment solutions (distance selling, ecommerce, convenience selling, cashless, mobile payment...).
Recently integrated into the HOPPS group and in strategic alliance with InEvents, Easytransac is at the forefront of innovation in the ecosystem of electronic payments and hybrid and cashless solutions that meet the requirements of e-tailers, event professionals and SMEs.
Our platform simplifies transactions and enriches the user experience, thanks to an intuitive interface and real-time tracking, while ensuring security at every payment.
