SME lender iwoca has researched into how embedded finance can power economic recovery, especially for small businesses.
In Brief:
The FinTech found that embedded finance helps firms borrow money faster.
Half of applications through embedded finance partners receive a decision in two minutes.
Nearly 30% of loan applications to iwoca currently come through embedded finance partners.
What does this mean?
iwoca says that its new data shows an increase in the use of embedded finance to offer lending opportunities to small and medium sized businesses, and that faster decisions resulting in this can help improve cash flow. It also adds that while “big banks” are reducing their risk appetite, embedded finance helps small businesses look for alternative lenders.
