Embedded payments are increasingly popular among B2C and B2B companies, particularly in the SMB lending sector where businesses prefer integrated solutions over traditional banking methods. A survey revealed that 37% of SMBs are inclined to switch to providers offering embedded lending options. Anchit Singh, Chief Business Officer at Fundbox, highlights that the unique landscape for SMBs requires faster and more efficient financial solutions, which embedded finance can provide through immediate access to capital and automation of financial processes.
Small businesses, like everyone else, have historically relied on their banks to meet their financial needs. However, the landscape for SMBs differs significantly from that of consumers.
37% of SMBs are interested in switching to providers that offer embedded lending options, according to a recent survey. This is the preferred choice for SMBs' own needs and for those providing embedded lending to customers.
Traditional banks have lengthy loan approval processes, leaving SMBs waiting weeks to access funds. Embedded finance solutions... enable SMBs to address challenges or seize new opportunities without delays.
The shift toward embedded lending solutions is because SMBs are served by a broader and more fragmented set of financial institutions, creating a 'fatter tail' of providers compared to the consumer segment.
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