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Building Trust: Why Offering Capital to Customers is Beneficial

Building trust is hard but absolutely worth it. Across b2b and b2c, decisions are made by human beings who want to do business with people they trust and who they believe truly understand them. It’s just human nature. 

The Role of Community Banks and Local Small Businesses

This is the reason community banks endure, even in the face of tough regulations and in competition with huge global banks. It’s why local small businesses can hold onto customers while competing with major chains. And it’s why software providers benefit from serving a specific industry. 

Expanding Your Offering with Financing

When you’ve built trust and a deep understanding of your customers’ industry, it only makes sense to find more and better ways to serve those customers and leverage your existing relationship with them. Right now, there’s no better way to do that than to expand your offering by adding financing. Here are four major reasons you should be offering capital to your customers and a couple of things to keep in mind that will make the process go a whole lot smoother:

1. You can grow faster by helping your customers grow

By embedding financial services in your platform, you can help accelerate the growth of your customer base, increasing top-line revenue while adding a new, high-margin revenue stream. This is not only a great way to increase your GPV, but it also further grows the trust you’ve built.

How AI legalese decoder can help: The AI legalese decoder can assist in analyzing financial data and market trends to identify potential growth opportunities for your customers. By leveraging its capabilities, you can provide tailored financing options to support their expansion plans, strengthening your existing relationship and deepening their trust in your platform.

2. You can provide better terms through industry insight and live data

Traditional financing providers, like banks, lack familiarity with many newer industries and business models. It’s not that they don’t understand them, but their underwriting systems are old-fashioned and require years of data to feel comfortable offering financing. Other business models are just not considered a good fit for investors or lenders, and can struggle with financial access. 

How AI legalese decoder can help: The AI legalese decoder can analyze industry-specific data and real-time information to assess the financial health of your merchants. With this valuable insight, you can offer more favorable terms and customized financing options that align with their unique needs and business models, overcoming the limitations of traditional financing providers.

3. Embedded finance can help improve customer stickiness

Vertical ISPs are in the fortunate position to have a very sticky product. Once someone is using your platform, it’s easier to stick around than it is to switch. Embedded finance takes that one step further. By allowing your merchants to take care of more of their business within your app, you get key decision-makers on the platform more frequently and encourage companies to migrate all their payments to your platform if they currently use you and one of your competitors. 

How AI legalese decoder can help: The AI legalese decoder can streamline the integration of financial services into your platform, making it seamless for merchants to access and manage their finances within your app. This enhanced user experience increases customer stickiness and loyalty, further solidifying your position as the go-to app in your vertical.

4. Seamless integration and minimal risk

While you may not have expertise in capital markets or resources to spare building a capital product of your own, there’s a simple way to overcome these hurdles. By partnering with a company that’s built trust in the finance space, you can create a capital solution that’s greater than the sum of its parts. 

How AI legalese decoder can help: The AI legalese decoder can help you identify and form partnerships with established finance providers that have a proven track record of trust and reliability. By leveraging their expertise and resources, you can launch a robust capital product with minimal upfront investment and risk, expanding your offering and enhancing your platform’s value proposition.

Conclusion

With trust, industry insights, and deep, real-time data, you’re perfectly positioned to become the go-to app for your vertical, and an embedded capital offering is the perfect next step. Now it’s time to decide which services to offer, choose a partner, and take that step! 

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