137 Adyen expanded its offerings in embedded financial products. “Traditional banking services aren’t necessarily the most appropriate anymore for this part of the market,” says Bosscher. “These small businesses and entrepreneurs are increasingly open to receiving financial services from the platforms they already use to run their business – these are brands and portals that they trust. It enables them to access meaningful financial services at relevant intervals.” Building on these realities, Adyen’s new embedded financial products include Adyen Capital, Adyen Accounts and Adyen Issuing. “The usual loan application process with traditional banks is really quite archaic, even unfair sometimes,” says Bosscher. “There are a lot of inequities and biases. Adyen Capital provides businesses with loans that are available and paid back quickly, in a very transparent manner – entirely based on incoming fund flows. This is made possible by the fact that Adyen’s financial products are always paired with its core payments offering.” Businesses can also access the new Adyen Accounts – which acts as a business bank account and enables instant settlement of incoming funds – as well as Adyen Issuing. The latter will enable customers to access virtual and physical cards, including one-time cards to pay suppliers and employees. “We’re not building these products to go super deep into banking,” says Bosscher. “Instead, they will function as value adds to platform users in the daily operations of their businesses. “For the platforms themselves, we can help them increase stickiness with their users and create new revenue streams. We felt that building these new embedded products was a no-brainer for us with our technology and expertise – an elegant way of catering to growing demand; there are more platforms, there are more SMBs on those platforms, and there’s an increasing appetite to bank in more innovative ways.” F I NANC I A L S E R V I C E S
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