Product suite enables potential revenue increase of up to 70% for platforms and marketplaces
AMSTERDAM, Oct. 23, 2022 /PRNewswire/ — Adyen (AMS: ADYEN), the global financial technology platform of choice for leading companies, has expanded its offering with the launch of two new integrated financial products – Capital and Accounts – which are now available to market and platform companies in the US and Europe through the unique Adyen integration. A study conducted in collaboration with the Boston Consulting Group reveals that 64% of small and medium-sized businesses (SMEs) are interested in integrated financial services on one platform. To take advantage of this banking-as-a-service opportunity, Adyen has developed an innovative suite of financial products including cash advances, business bank accounts and card issuance. Along with integrated payments, these drive the future of financial services by enabling platforms to deliver superior financial experiences to their SME users.
“Platforms are at the heart of the transformation of the financial services industry, and Adyen is poised to continue driving this revolution,” said Adyen Co-Founder and CEO Pieter van der Does. “Integrated finance is the next logical step after our integrated payments offering. By historically investing in our banking licenses and industry-leading technology, we have positioned ourselves as the only provider to offer a full suite of integrated financial products through a single integration. From this position, we are delighted to embrace the opportunity of banking as a service.”
Traditional financial services are suffocated by legacy systems, reactive approaches, slow approvals, and a lack of top-down knowledge. These factors have long caused a lack of service for SMEs, and have led to 65% of platform users being willing to switch financial services providers in favor of solutions better integrated into their business processes. With Adyen’s unique integration, the platforms can meet this growing user demand by integrating financial services to consolidate the business and financial operations of SMEs under one roof.
Adyen’s suite of integrated financial products offers a modular solution that brings unprecedented control and customization options to platform businesses. 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 valuing an integrated bank account experience, Adyen’s Accounts product enables users to manage their finances where they do business and gain instant access to funds. Along with Capital and Accounts, Issuing completes the offering by allowing users to easily spend their funds on platform-branded payment cards. By adopting the suite, platforms can complete their offering and unlock the capabilities of a comprehensive financial ecosystem.
Learn more about Adyen’s new integrated financial products – Capital and Accounts.
About Adyen
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payment 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 companies like Facebook, Uber, H
Adyen’s investment in its integrated finance suite and the percentages mentioned in this press release are supported by industry research conducted in collaboration with the Boston Consulting Group. Learn more about their findings here.
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