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Embedded Lending with October

How Embedded Lending is shaking up the Fintech industry and how October shapes it for its partners

Embedded lending is a relatively new concept in the financial technology (fintech) sector that has been disrupting the industry in recent times.

This blog post will explore what embedded finance and embedded lending are, why embedded lending is shaking up the fintech industry, and how October is implementing embedded lending for its partners and their clients.

What does Embedded Finance and Embedded Lending mean?

Embedded finance is a system that allows third-party organizations to offer financial services to their customers. It is a way for businesses to integrate financial services such as payments, loans, and insurance into their existing products and services without having to become a licensed financial institution.

Embedded lending, on the other hand, is a form of embedded finance that refers to the integration of lending services into third-party platforms.
This means that third party organizations, such as e-commerce platforms, marketplaces or mobile apps, can offer lending services to their customers.

Why is Embedded Lending Shaking up the Fintech Industry?

Embedded lending shakes up the Fintech industry by making it easier for customers to obtain liquidity for their business.

With embedded lending, customers can apply for a loan within the native environment of their online providerexactly when they need a loan.

By integrating lending services into their offerings, third parties (financial companies that do not offer financing solutions or non-financial companies) can create a seamless customer experience, increase customer engagement and loyalty, and generate additional revenue streams.

Customers find embedded lending services highly appealing, as they satisfy and anticipate their needs in a digital, fast, and simple way, all in the same environment.

Embedded lending is also helping to address the issue of financial inclusion. As a result, embedded partnerships are increasingly prevailing in the market, and October aligns with this general framework.

How Does October Implement it?

October is a pan-European fintech company with the mission to “finance businesses better.” Our goal is to democratize access to loans for businesses.

We have already partnered with several companies to offer instant loans to their clients. Partners’ customers can apply for a loan online in just one minute, they will receive a definitive answer within 48 hours and have the funds in their bank account within one week.

October offers embedded lending services at different levels of integration to fully meet our partners’ expectations.

Keep reading and let’s find out together what they are!

Custom Entry Point

This solution enables customers to initiate a loan application from their native environment with just one click. They can start the application process from a partner’s website, such as an e-commerce platform or a marketplace.
October provides a customizable landing page that partners can integrate into their website or app, and the game is done.

Seamless Customer Journey

Alternatively, October provides APIs (Application Programming Interfaces) that partners can use to integrate the lending process into their existing workflows and systems. This integration is a one-time process.

Depending on data collected through APIs, partners can allow their clients to apply for loans while remaining in their native environment, experiencing a seamless customer journey.
October’s loan application process is integrated into partner platforms, so customers can apply for loans not only by starting the application process within the partner’s environment, but also without leaving the partner’s website.
This solution reduces the risk of drop-offs and increases conversion rates.

Full integration

Last but not least, October also offers full integration.
The entire credit process, from loan application to funding, is managed within the partner’s native environment. October’s lending platform is powered by advanced algorithms and machine learning models. They analyze a wide range of data sources, such as financial statements and bank transaction history, to assess the creditworthiness of borrowers and determine the best loan terms.

Partner with October

In conclusion, embedded lending is a game-changer in the Fintech industry. And October is at the forefront of implementing this innovative technology.

With embedded lending, October partners can offer their customers access to instant loans. And they can also scale their business with a fast and simple integration, generate additional revenue streams.
Last but not least? They can increase customer engagement and loyalty.

October’s proposition provides partners with integrated, customizable, and scalable solutions that enable them to offer financing solutions. By partnering with October, partners can create new value propositions, improve their bottom line, and drive innovation in their industry.

Do you want to learn more and become a partner of October?

Click here and talk to us!