Adyen enables Moneybird SaaS platform to offer financial services

By Gloria Methri

Global FinTech platform Adyen has announced that software-as-a-service (SaaS) platform Moneybird is the latest customer to use its integrated financial products.

Designed to simplify accounting processes for entrepreneurs, the Moneybird app makes bookkeeping easy, from supplier onboarding to invoicing and VAT reconciliation.

To better meet the business needs of its users, Moneybird has integrated Adyen‘s card-issuing and corporate accounts, thus shifting its offering from balance sheet monitoring to fully integrated financial services.

Moneybird pointed to research in partnership with the Boston Consulting Group (BCG), which found that most small and medium-sized enterprises (SMBs) are interested in platform-integrated financial services. Rather than dividing their attention among multiple partners, SMBs are looking for centralized solutions that simplify and optimize their day-to-day operations.

To capitalize on this demand, Adyen’s suite of integrated financial products has been designed to help platforms deliver premium financial services to SMEs. Today, SaaS providers and marketplaces hosting SMBs can seamlessly integrate Adyen’s Capital, and Accounts products into their users’ everyday workflows.

Thom Ruiter, Vice President of Banking and Financial Products at Adyen said, “Moneybird is a fantastic example of the natural evolution that occurs between SMBs and the platforms they rely on to run their businesses. In addition to payment integration, the more personalized financial services a platform can offer, the more attractive it becomes to current and potential users.”

“Adyen’s integrated financial suite makes this possible through our unique integration, reducing complexity by eliminating third parties and separate integrations. Adyen is excited to enable platforms like Moneybird to serve the needs of SMBs by also acting as their bank,” he added.

Adyen’s suite includes cash advances, business bank accounts, and card issuance. Across all products, it facilitates the speed of financial services especially needed by SMBs, which are often slowed down and underserved by traditional institutions.