Adyen expands the future of financial services by introducing integrated financial products
Adyen (AMS: ADYEN)the global fintech platform of choice for large corporations, has expanded its offering by releasing two new integrated financial products – Capital and Accounts – which are now available to platform and marketplace companies in the United States. United and Europe through Adyen’s unique integration. A study conducted in partnership with Boston Consulting Group reveals that 64% of small and medium-sized enterprises (SMEs) are interested in financial services integrated within a platform. To capitalize on this banking-as-a-service opportunity, Adyen has developed an innovative suite of financial products including cash advances, business bank accounts and card issuance. Combined with integrated payments, they are powering the future of financial services by enabling platforms to deliver superior financial experiences to their SME users.
“Platforms are at the center of a transforming financial services industry, and Adyen is poised to continue this revolution,” said Pieter van der Does, co-founder and CEO of Adyen. “Integrated finance is the logical continuation of our integrated payments offer. By historically investing in our banking licenses and cutting-edge technology, we have positioned ourselves as the only provider offering a complete suite of integrated financial products through a single integration. From that perspective, we are excited to seize the opportunity that banking as a service offers. »
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Traditional financial services are suffocated by legacy systems, reactive approaches, slow approvals and a lack of vertical knowledge. These factors have long driven SMBs to underserve and lead 65% of platform users to want to switch financial service providers in favor of solutions that are better integrated into their business processes. With Adyen’s unique integration, platforms can meet this growing user demand by integrating financial services to consolidate the business and financial activities of SMEs under one roof.
Adyen’s suite of integrated financial products offers a modular solution that provides unparalleled control and customization options for platform activities. With 94% of SMBs interested in cash advance solutions saying they would benefit from having their loans pre-approved, Capital enables platforms to proactively offer business financing based on historical payment data. With 72% of SMBs appreciating an integrated bank account experience, the Adyen Accounts product allows users to manage their finances where they do business and gain instant access to funds. Going hand-in-hand with Capital and Accounts, Issuing rounds out the offering by allowing users to easily spend their funds on platform-branded payment cards. By adopting the suite, platforms can complement their offering and unleash the capabilities of an end-to-end financial ecosystem.
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