Fintechs target for SAP Fioneer SME offering

SAP-backed financial services software provider SAP Fioneer has launched a new offering tapping into the trend of open banking and embedded finance.

Called Fioneer SME Banking Edition, the offering will via APIs connect fintechs and other financial institutions to external data sources to help improve their sell to SMEs.

SAP Fioneer is making a big push into embedded finance and Fioneer SME Banking Edition follows its launch of Fioneer Embedded Finance as a Service in March this year.

Fioneer SME Banking Edition will connect banks to sources like open banking, central company registry, e-commerce and Enterprise Resource Planning (ERP) data.

SAP Fioneer was launched in 2001 as a JV between German software giant SAP and portfolio investor Dediq, providing financial services software solutions.

Its new offering is targeted at fintechs, neobanks, legacy banks and other financial institutions which want to improve what they current offer the SME sector.

SAP Fioneer says that by connecting financial institutions to data sources through APIs, it will help give their customers more insight into areas like cashflow.

It says it will also help financial institutions make smarter funding decisions as well as broaden their offerings with services like embedded finance.

Charlie Platt, managing director of Banking at SAP Fioneer, said: “SMEs represent the lifeblood of the economy, and it is critical that they are able to access the financial services they deserve.

“Through our SME Banking Edition, banks will be able to create commercially viable, unique and better banking experiences for SMEs that will help them to stay ahead in a challenging economic environment.”