What were some of the main topics you addressed on stage?
CM: We focused on embedded finance and our collaboration with Swoop. A significant hurdle for many small businesses is accessing capital. Historically, banks reject over 80% of small business loan requests. By partnering with Swoop and integrating their services directly into Sage’s accounting software, we’re giving customers a comprehensive look at available funding options. This makes it easier for businesses to access cash and break through financial obstacles.
AR: Absolutely. A major issue is that many customers are unsure of where to seek financing. By embedding Swoop into Sage’s platform, we’re meeting customers in their own environment – within their accounting software. It allows them to pinpoint their funding needs and find solutions effortlessly through embedded finance.
For Swoop, this partnership is a game changer. It enhances the customer experience, provides real value to Sage users, and serves as a fantastic channel for customer acquisition. Aligning with a reputable brand like Sage is a remarkable way to foster growth, particularly for a fintech aiming to expand.
Can you elaborate on Swoop’s virtual CFO and how the partnership with Sage supports that?
CM: The focus is on simplifying the process for users. Instead of having business owners waste hours researching loans or hunting down funding options, we deliver everything they need in one place. From cash flow forecasting to financing solutions, it’s all readily available through their Sage accounting software. Users don’t need to leave the platform.
AR: For us, it’s about harnessing the power of accounting and financial data. When I apply for a loan, the first thing lenders typically request is my financial records. By collaborating with Sage – the top accounting software for small and medium-sized businesses – we’re addressing the issue at its core.
This partnership didn’t happen overnight. When you’re a respected, global name like Sage, you have to carefully select your partners. Over the past two years, we’ve established a strong and successful relationship that truly benefits the customer.
What are your main takeaways from FinTech LIVE?
CM: This is my first experience at FinTech LIVE, and I was truly impressed. The turnout was fantastic, with standing room only, which I hadn’t anticipated given the option for virtual attendance. It’s incredible to see so many colleagues, clients, and fintech enthusiasts come together to share and collaborate on the future of our industry.
AR: FinTech LIVE has been an extraordinary success. It’s not just about the number of attendees; the quality of discussions and debates is remarkable. We’re gaining insights into emerging trends and seeing how others are innovating in the sector. My key takeaway? The future of fintech looks exceptionally promising. Today’s conversations and opportunities are genuinely motivating.
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