New Data Shows B2B Businesses Choose Fintechs as their Preferred Embedded Finance Provider as Use Cases Expand
Hampshire, UK & Salt Lake City, U.S. – New research conducted by Juniper Research in collaboration with Galileo Financial Technologies, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), reveals most U.S. B2B businesses are not only familiar with embedded finance, but they are already offering an embedded finance solution. The top three critical business pain points being solved by embedded finance today are: customer retention, cash flow management and revenue growth.
The research, published as the Galileo Embedded Finance Report, highlights the inherent need for U.S. businesses to offer embedded finance solutions to better enable payments, payroll, credit and lending, insurance, banking and other financial services across the B2B industry. Among the 63% of businesses who use embedded finance today, the majority (78%) work with two or more providers to enable their solution, with fintechs being the top preferred provider.
“The dramatic rise in the adoption of digital payments among both consumers and businesses, has enabled people and businesses to do more with technology than ever before—paving the way for enormous growth for embedded financial services,” said Seth McGuire, CRO of Galileo Financial Technologies. “The market has evolved at lighting speed and this new research confirms that forward-thinking B2B executives are embracing embedded finance solutions as a key part of their growth strategies.”
The survey of 450 C-level executives in B2B businesses across the U.S. asked business leaders about their attitudes towards embedded finance, what types of financial services they currently or want to offer, how many providers they use, who they prefer as their embedded finance partner and what value embedded finance solutions provide to their clients. Key findings include:
85% of B2B businesses are familiar with the concept of embedded finance
65% of those not currently offering an embedded finance solution are now considering offering one
68% would prefer to offer embedded finance services from a non-bank provider Payments, employee/employer services and credit and lending solutions are the top three use cases in market today
“Customer retention, a major pain point for businesses, can be significantly enhanced through embedded finance tools. This is a critical differentiator that businesses must leverage, or they will be left behind,” said Nick Maynard, study author and Head of Research at Juniper Research. “As the demand for digital services continues to grow rapidly, there is significant market opportunity for businesses who go to market in an efficient, scalable manner.”
The Galileo Embedded Finance Report also explores why businesses are gravitating toward embedded finance, the newest use cases for U.S. B2B embedded finance and how the B2B embedded finance market is catching up with B2C offerings. Use cases include offering third-party payment options such as fixed-rate instalment loans or Buy Now, Pay Later (BNPL) options.
To learn more, Juniper Payments Research Head Nick Maynard will be hosting a webinar around the survey findings on Tuesday, October 4, 2022 at 11:00 MT / 1:00 PM ET. Register here to learn more.
## About Galileo Financial Technologies
Galileo is a leading financial technology company whose platform, open API technology and proven expertise enable fintechs, emerging and established brands to create differentiated financial solutions that expand the financial frontier. Galileo removes the complexity from payments and financial services innovation by providing flexible, open API building blocks and a secure, scalable, future-proof platform. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning and more, across industries and geographies. Headquartered in Salt Lake City, Galileo has offices in Mexico City, New York City, San Francisco and Seattle.
About Juniper Research
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.
Contact Sam Smith, Press Relations (Juniper Research) +44(0)1256 830002 sam.smith@juniperresearch.com
Contact Alissa Clayton, Account Director (The Fletcher Group, on behalf of Galileo Financial Technologies) 647-390-9085 alissa@fletchergroupllc.com
As 10 principais empresas de embedded finance que impulsionam pagamentos, bancos e empréstimos
A Galileo Financial Technologies fornece a infraestrutura que permite a empresas de fintech e outras plataformas oferecer produtos bancários, programas de cartões e soluções de pagamentos integrados aos seus utilizadores.
Galileo afirma que o crédito garantido está pronto para voltar
Os cartões de crédito garantidos, em teoria, são um produto extremamente útil, especialmente para consumidores com acesso limitado aos serviços financeiros. Na prática, porém, eles têm sido prejudicados por obstáculos como processos de onboarding complicados, contas de garantia bloqueadas e um estigma que afastou muitos consumidores. "O produto em si nunca foi o problema", afirmou Shankar Pandravada, diretor sênior de Gestão de Produtos da Galileo Financial Technologies, ao PYMNTS. "A experiência era o problema."
Prashant Shah | Vice-presidente de Gestão de Produtos | Galileo – Cavalgando com os Cowboys do FinTech
Os cartões de débito podem ser a próxima grande oportunidade para reforçar a fidelização dos clientes. Prashant Shah explica como as finanças integradas e os programas de recompensas associados aos cartões de débito estão a transformar as estratégias de fidelização no setor bancário e porque os primeiros a adotar estas soluções, especialmente os bancos comunitários, têm potencial para conquistar uma vantagem competitiva.
Usuários de débito nos EUA aumentaram os gastos com viagens e restaurantes nesta primavera, apesar dos desafios econômicos
Os usuários de cartões de débito nos Estados Unidos aumentaram os gastos com restaurantes e viagens com a chegada do clima mais quente, impulsionados em parte pela temporada de restituição de impostos, de acordo com o Índice de Gastos com Débito do 1º trimestre de 2026 da SoFi Tech Solutions. As transações em restaurantes e fast-food cresceram 18% no trimestre.
SoFi Tech Solutions Financial Technologies permite que a SoFi envie e receba pagamentos via FedNow Service
SoFi habilita pagos instantáneos 24/7 con FedNow®, permitiendo enviar y recibir dinero en segundos mediante la plataforma de SoFi Tech Solutions.
