Fintech
Toyota Financial Services Italia collaborates with Fintech District
Toyota Financial Services Italy has entered into a partnership with the Fintech Districta community focused on fintech innovation.
This collaboration aims to identify new growth and investment opportunities with fintech companies and includes the integration of Embedded Finance services into Toyota vehicles through the collaboration with Fabrick. Ultimately, the partnership is part of Toyota’s broader strategy to advance vehicle electrification through a multi-technology approach that integrates financial and mobility services.
Toyota Financial Services Italy is focusing on improving credit interoperability among its group companies to provide more accessible purchase and usage options for customers throughout the vehicle lifecycle. This effort also supports the transition to carbon neutrality by emphasizing the role of service components in this change.
The partnership is aligned with Finmobility, an initiative that explores the common elements of financial services and mobility, which is a growing trend according to motorfinanceonline.com. This trend is further supported by a whitepaper by Forrester Consulting, commissioned by Fabrick, which interviewed over 600 European companies.
The report indicates that more than 60% of automotive companies plan to increase their investments in payment technology solutions by more than 20% in the next two years. This includes investments in digital wallets, payment orchestration and optimization, intelligent routing, and integrated multinational payment acceptance capabilities.
Further developments by Fabrick
In June 2024, based in Italy Banco Desio has started a collaboration with Fabrick to support the digitalisation of invoice advance services for small and medium-sized enterprises (SMEs).
In an effort to improve invoice advance services for SMEs, Banco Desio has signed an agreement with Fabrick, which will enable the implementation of an additional channel where companies can upload their invoices independently. Through this platform, SMEs could request advance payment of invoices within a digital flow and have greater visibility of active credit lines and commitments signed with the bank.