‘Nieuwe Knikkers’ podcast: all about Rabobank Embedded Services
In the ‘Nieuwe Knikkers’ (New Marbles) podcast, expert insiders Arlette Broex and Gertjan Rösken discuss the latest news in fintech. That includes the fruitful partnership between Rabobank and Bizcuit, and how it improves the user experience for entrepreneurs.
The partnership between Rabobank and Bizcuit is all about embedded services. Thomas Horn, innovation strategy lead open banking at Rabobank, explains that Rabobank aims to make its services more easily accessible to small- and medium-sized enterprises. That means making them available on non-banking platforms, like apps where entrepreneurs can do their administration. Embedding your services simply means offering them in other places than usual.
Click here to listen to the episode featuring Thomas Horn, innovation strategy lead open banking at Rabobank, and Bizcuit CEO Hessel Kuik. Or if you don’t have an opportunity to listen, you can read about their conversation below.
Yes, I’d like flexible liquidity
As you may have guessed, Bizcuit is one of those places. It’s an app that saves entrepreneurs a lot of hassle with tools that provide access to all of your bank accounts, documents and payment orders. Or as Bizcuit CEO explains: it makes entrepreneurs’ lives easier. One of Bizcuit’s new advantages is Invoice Financing. It allows you to request a short-term loan based on an invoice to a company or consumer. It’s ideal for when you need flexible liquidity, for example to benefit from a purchase discount offered by a supplier, or when you need extra cash to meet your payment obligations.
In your account within 24 hours
In the podcast, Hessel explains how it works. Once you complete the Bizcuit onboarding process, you go to the ‘financing’ heading in the app and click on ‘sales invoices’. Here, you can request pre-financing for the sales invoices you’ve created in the app, or obtained from your bookkeeping. Next to the invoice, the app shows which amount you can receive right away. When you select this amount, you’ll see a proposal offer. Simply sign the offer, and your business loan application is complete. It takes less than five minutes in total. And you’ll see the funds in your account within 24 hours.
To take advantage of the new service, you don’t need to be a Rabobank customer; every entrepreneur in the Netherlands is welcome. That makes Invoice Financing available for a wider audience.
If that’s made you curious about the ‘Nieuwe Knikkers’ podcast, you can listen to it here.