SaaS PMs open to implementing Embedded Finance

As provided by Weavr in ‘The next step for B2B SaaS’ research, the vast majority of business-to-business (B2B) Software-as-a-Service (SaaS) product managers (PMs) aim to adopt and leverage Embedded Finance as part of their near-term development strategy. Conducted in February 2024, the research included 250 UK-based PMs, with the information underscoring the rapidly accelerating awareness of Embedded Finance within the sector and the timeframe instituted by them for their projects. Moreover, the study confirms the business case for embedding financial features via elements such as payment wallets and debit cards within B2B SaaS services.

The research highlights that 55% of B2B SaaS PMs think that Embedded Finance can offer them a competitive advantage in the industry, while 74% of them included a built-in payment wallet on their roadmap. Additionally, nearly 62% of them stated that they plan to integrate both built-in payment wallets and debit cards, with only 4% already doing so.

Weavr’s research also underlined that some of the capabilities of Embedded Finance for B2B SaaS products include spendable employee benefits, modernisation of expense management, integrated bill payment for IT and cloud subscription management, and automation of batch payments in accounting tools. Also, Embedded Finance includes non-fintech apps and products that integrate payments and other regulated financial capabilities within their application branding and customer experience.

Furthermore, representatives from Weavr stated that considering the difficult economic market, venture-capital-invested SaaS businesses found it challenging to expand revenue through customer acquisition. The company’s research shows that Embedded Finance technology is suitable for mainstream adoption, as it can support firms in accessing the customer expansion and additional revenue streams that the opportunity offers. Also, according to the report’s findings, Embedded Finance solutions are projected to become a significant part of SaaS offerings leveraged in business contexts. The main reasons for companies adopting embedded built-in payment wallets, include enhancing user engagement (28%), increasing the number of paying users (26%), and improving revenue per user (25%).

In addition, the insights provided by the whitepaper enable Weavr to continue its endeavours to support businesses embedding financial capabilities. The firm’s Embedded Finance solutions work towards assisting its customers across the B2B SaaS industry in developing new capabilities and achieving higher levels of efficiency, growth, and customer engagement.