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Why SaaS platforms and marketplaces will lead the next wave of innovation in SME financial services

Over 85% of SMEs and freelancers would be willing to purchase banking services from a non-banking institution. SaaS platforms have a big opportunity here!

Max Cutler
January 23, 2024

European SMEs and freelancers: What do they expect when it comes to financial services?

We were so curious to find out that we conducted a broad market research study with our friends at Aperture. 

The answer was clear: 85% of the SMEs we surveyed across France, Germany, Spain, and the Netherlands would be willing to buy embedded financial services from non-financial companies. 

It seems small companies and independent professionals are not fully satisfied with solutions offered by traditional financial services providers. In fact, they are rather open to embedded banking products offered by brands they trust. 

In particular, we observed that there is a meaningful opportunity for vertical SaaS and marketplaces who are already building software for SMEs to deliver these products. 

With providers of Banking-as-a-Service platforms like Swan, non-financial brands can develop their own banking solutions in a matter of weeks without having to satisfy strict regulatory requirements or build up their own banking infrastructure. 

In the white paper available below, we focus on three core activities:

  • Present the findings from our market research of over 1,200 SME decision makers across our four core markets
  • Explain how existing products are not fully satisfying the challenging SME market, whose needs lie between those of retail customers and businesses 
  • Provide insights and case studies to help you develop a forward-thinking approach to embedding financial services in platforms serving SMEs and freelancers 

Max Cutler
January 23, 2024
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