In our survey with The Harris Poll, 100% of American small businesses said they were dissatisfied with at least one aspect of the way they manage their finances today.
It’s hardly surprising. Traditional financial institutions weren’t designed to serve the needs of small businesses—and they haven’t kept up with the times.
Fortunately, you’re in a great position to help. In fact, 84% of businesses we surveyed said they would explore financial products from their business software tool, if they were offered.
There are four main reasons your customers will choose to adopt and engage with your embedded financial products:
Faster payouts. Your customers don’t want to wait 2-5 days after completing a transaction for the funds to become available in their bank accounts. With embedded finance, you can pay them significantly faster—even on demand.
Better lending and financing. 62% of businesses we surveyed said they can’t get the lending and financing they need. Fortunately, you’re in a great position to help. You understand your customers’ business models and their cash flow; you know what they need and how much they can afford to repay.
More tailored terms. Your customers are using financial products that weren’t designed for them—and they hate it. With embedded finance, you can offer more tailored terms: fewer fees, better interest rates, and targeted rewards for the things they care about.
A one-stop shop. Your customers don’t want to manage their business and their finances separately. With embedded finance, you become a one-stop shop that’s custom-built to their use case, providing big-picture insights and streamlining routine tasks.