Amsterdam · November 29, 2022
Adyen Empowers Accounting Platform Moneybird to Offer Financial Services
Adyen announces that software as a service platform, Moneybird, is the latest customer utilizing its newly launched suite of embedded financial products.
Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, announces that software as a service (SaaS) platform, Moneybird, is the latest customer utilizing its newly launched suite of embedded financial products. Designed to simplify accounting processes for entrepreneurs, Moneybird facilitates bookkeeping needs ranging from vendor onboarding to invoicing and VAT reconciliation. To further meet their user’s business needs, Moneybird has integrated Adyen’s card issuing and business accounts - taking their offering from balance sheet oversight to fully embedded financial services. Moneybird users can now enjoy the synergies between accounting and banking, which go hand-in-hand to provide complete cash flow management.
Research conducted in partnership with Boston Consulting Group (BCG) found that a majority of small and medium-sized businesses (SMBs) are interested in financial services embedded within a platform - indicating a promising opportunity for tools able to adapt. Rather than divide their focus between multiple partners, SMBs seek centralized solutions that streamline and optimize their day-to-day operations. To capitalize on this growing demand, Adyen’s embedded financial product suite was engineered to help platforms deliver superior financial service experiences to SMBs. Today, platforms such as SaaS providers and marketplaces hosting SMBs can seamlessly integrate Adyen’s Issuing, Capital, and Accounts products into their users’ everyday workflows - creating a single destination for their business activities.
“Moneybird is a fantastic example of the natural evolution occurring between SMBs and the platforms they rely on to run their businesses,” says Thom Ruiter, VP of Banking and Financial Products at Adyen. “In addition to embedding payments, the more tailored financial services a platform can provide, the more attractive they become to current and potential users. Adyen’s embedded finance suite makes this possible through our single integration - reducing complexity by removing third-parties and separate integrations. Adyen is excited to enable platforms like Moneybird to cater to the needs of SMBs by also acting as their bank.”
Adyen’s innovative suite comprises cash advances, business bank accounts, and card issuing. Across all products, Adyen facilitates the financial services speed particularly required by SMBs, who are often slowed down and under served by traditional institutions. To learn more about how Adyen can elevate your SaaS, platform, or marketplace offering, visit Capital, Accounts and Issuing.
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Facebook, Uber, H&M, eBay, and Microsoft. The cooperation with Moneybird as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years.
Adyen’s investment into its embedded finance suite and the percentages mentioned in this press release are backed by industry research conducted in partnership with Boston Consulting Group. Learn more about their findings here.