Data Snack: SMBs want more embedded banking options
- The global market for embedded financial services for SMBs is forecasted to be worth $124 billion by 2025.
- 85% of SMBs were surveyed to be using embedded digital services in their day-to-day operations.
SMBs around the world have developed a liking for embedded finance offerings, a recent Accenture survey found. While the shift had been gradually building over the past few years, pandemic-era development accelerated adoption. The report forecasts that the market for global embedded financial services for SMBs will be worth $124 billion by 2025.
Accenture surveyed senior managers from over 2500 SMBs across 10 countries, including the US, UK, Australia, and Singapore. The consultancy found that SMBs are interested and willing to pay for embedded finance solutions.
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