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The best way to fast-track your embedded finance journey

Learn everything you need to know to get started with embedded finance.

Ruowei Wang  ·  Product Lead, Adyen Accounts
5 December, 2022
 ·  3 minutes
A person happy with their Accounts product

Platforms are taking the lead when it comes to using technology to help make users' lives easier. If you're making major decisions at a platform, specially one servicing small to medium sized businesses (SMBs), such as marketplaces, SaaS provider, on-demand platform, you're probably tuning into the talk of the moment: How to start your embedded finance journey.

Embedded finance is overhauling the banking landscape, and platforms that adjust now will be the first, and maybe only to experience a new era. I’ve spent the last couple of years working directly with platforms to understand their challenges, but better yet, their ambitions – and building the products that will help them reach the latter.

Embedded finance is the next step for platforms succeeding with embedded payments. Most platforms advancing to this stage are already seeing the results of embedding payments into their offering.ToastandLightspeedare prime examples. If this is where you're at, you've come to the right place.

The first platforms to embed payments already have up to 80% of their total revenue coming from payment services. If you want to generate this kind of revenue from embedded finance it’s necessary to start now.

Knowing where to start can be tricky. But it doesn’t have to be. OurAccounts product(as part of the Embedded Financial Product suite) is the easiest way to fast-track your embedded finance journey since it allows your users to manage their finances where they’re already running their business.

Two people deciding how to get started with accounts

Why should platforms embed financial services into their offering?

Financial technology and increasing user demand have opened an opportunity for platforms to provide financial services to their users. For many small to medium sized businesses (SMBs) using platforms, this includes the day-to-day financial support they struggle to get from banks.

What does this mean for platform businesses?

Embedded financial services is something that64% of SMBs are interested in, and will soon turn into something they expect. Embracing this opportunity is something you need to do to not risk losing your users. Fortunately, this is something that will not only benefit your user, but also take your business to the next level.

  • Use financial data to understand how your users make and spend money to help them run their business and manage their cash flow.
  • Retain users, increase customer lifetime value, and grow your user base by offering them financial services they would otherwise struggle to access. 65% of SMBs would be happy to switch their existing provider for an improved integration.
  • Future-proof your business by diversifying your business model and unlocking new revenue streams. Capturing the embedded finance opportunity can increase platform revenues by up to 70%.

Learn morehere.

Knowing where to start can be a challenge in itself, with so many products to consider: business cards, lending, accounts. But consider Accounts as the take-off point.

Three people looking at a screen and creating accounts

Accounts: The easiest way to get started with embedded finance

When embedding payments with other financial products, you need to start small and focus on what your users want.72% of the SMBs consider centralising operationsand creating an integrated experience important to optimising their business.

For platforms that have already found success with embedded payments,Accountsis the next step. With Accounts, you can offer your SMB usersplatform-embedded bank accounts, allowing them to manage their sales proceeds in the same place as they run their business.

Here’s what your users can expect:

  • Accelerated payouts and instant settlements
  • Tailored business accounts that allow SMBs to have one dedicated source for cash management.
  • A fast and easy application process.

Accounts makes it easy to start small and add more features and functionalities with time. Our financial technology platform is built to give you the flexibility to add more products based on what works for your users as your proof of concept progresses.

Enabling your users to run their finances where they run their business can be game-changing for your platform. Making the transition toembedded financecan be overwhelming, but starting with Accounts makes it easy and we’re here to help you along the way.

Want to discover how Accounts works? Learn morehere.

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