Solaris, Handelsblatt Research Institute: Key Opportunities for Embedded Finance in European Mobility Sector

Solaris, which claims to be Europe’s “leading” embedded finance platform, published a new report on the evolution of embedded finance.

The study, conducted in cooperation with the Handelsblatt Research Institute, “analyzes the market potential for the mobility sector in the four largest European markets of Germany, France, Italy and Spain.”

Already last year, Solaris published its first report “on the emerging trend of embedded finance and the market potential exemplified by the e-commerce industry in Germany.” In addition, mobility was “identified as one of the most promising pioneering industries.”

The study results “tie in with our previous market research and confirm our experience in the field.” Interest from mobility providers for embedded finance “has risen noticeably.”

The team noted that they “have already been able to close exciting partnerships in Europe.” For many of these brands, “understanding how to best leverage their ecosystem and build a profitable business case is a challenge.” That is why this time the team also “looked at the question of whether certain brand attributes are promising and examined individual age groups.”

Chloé Mayenobe, Chief Growth Officer at Solaris:

“To determine the potential for all markets, the study analyzed 25 of the most popular mobility providers in each country. For this purpose, Solaris conducted a representative online survey with the Handelsblatt Research Institute and YouGov Deutschland GmbH. Of the four markets surveyed, Italy is the strongest with 61.8% of respondents said they would use embedded financial services from a mobility provider. Spain is the second strongest market with a total of 51.3%, followed by 36.1% in Germany and 33.3% in France.”

An important finding “addresses the correlation of brand attributes and willingness to consider using financial services from a mobility provider.”

While a digital approach is attractive to some customers, the survey “found that the most important correlation is trust.” The higher respondents rated the attributes of safety/reliability of a mobility brand, “the greater their willingness to use a financial service from that brand.”

Sustainable growth of mobility providers in the coming decades “will only succeed by building customer-centric ecosystems.”

Above all, embedded and customized financial services “will offer a decisive competitive advantage.” They can “boost customer retention, increase the number of touchpoints, and create new revenue streams.”

Based on the study, it is safe to say that “another success factor is brand trust, which is why partnering with a regulated platform such as Solaris is key.”

As covered, Solaris claims it is Europe’s leading embedded finance platform “empowering the future of financial services.”

The tech company “enables businesses to easily provide trusted and innovative financial experiences to their customers.” Through smart APIs, partners can “embed financial services quickly and compliantly into their own product offerings.”

Solaris is “headquartered in Berlin and employs over 750 people at eight locations in Europe and in India.” Combined net revenue in 2021 “exceeded 100 million euros, representing growth of over 90 percent year-on-year.”

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