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Business leaders want more embedded finance schemes, poll shows
Over 50% of European business leaders are looking to launch more embedded finance schemes, a survey has shown.
Senior Journalist, covering the Credit Strategy and FSE News brands.
Senior Journalist, covering the Credit Strategy and FSE News brands.
The survey, shared with City A.M. on 9 March, independently polled 753 retail and eCommerce leaders.
It indicated most would back initiatives to integrate financial services in non-financial companies.
The poll was commissioned by banking-as-a-service company Vodeno and was conducted in February 2022 by research agency Censuswide.
It also found that 75% of retailers are offering several incentivisation products like loyalty schemes, cashback, credit cards, buy now pay later (BNPL) schemes and overdrafts. 56% intend to offer more schemes in the future.
British firms offering embedded finance products topped the poll at 82%, eight per cent ahead of the 74% average.
Wojciech Sobieraj, chief executive of Vodeno, said interest in banking-as-a-service was “rising rapidly among non-financial businesses”.
“Smart brands understand the value of embedded banking because they know that creating a better checkout experience will increase conversion and customer engagement,” he continued.
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