Fintech
Toyota Financial Services Italia enters into partnership with Fabrick and Fintech District
Toyota Financial Services ItalyToyota Group’s financial division, becomes Corporate partner of Fintech Districtthe international reference community for the Fintech and Techfin ecosystem in Italy.
This partnership aims to explore new growth and investment opportunities through innovative projects in synergy with fintech entities. The vision is of a future in which cars, through the integration of Embedded Finance services that facilitate payments, management of financial flows and data collection throughout the life cycle of the vehicle and use by the customer, could evolve into “smart digital tokens”. This approach enables virtuous initiatives in environmental sustainability, promoting economic accessibility and financial flexibility. This initiative aims to maximize the value from Open Innovation, thanks to the partnership with Tissuea leading international player in Open Finance. This collaboration will see the implementation of new solutions for the advanced management of payment services.
The journey begins with the implementation of an “Embedded Finance” solution that, on the one hand, optimizes processes through the automation of back-office activities and, on the other, simplifies interaction with banking and financial stakeholders by making the management of transactions and payment flows more efficient. Furthermore, by enhancing the evolution and development of collection and payment systems for the Toyota and Lexus dealer and service center network, it is possible to offer them advanced solutions in addition to the Wholesale solutions already available. This partnership guarantees continuous and progressive evolution, improving the efficiency and effectiveness of financial transactions of any type, in line with the highest market standards.
“The collaboration with Fabrick is part of a broader strategic direction for the Toyota Group, aimed at enhancing a multi-technology approach in the electrification of vehicles by offering a complete and integrated range of financial and mobility services. Fin-Mobility is already consolidated within the Toyota Group. KINTO Italia and Toyota Financial Services Italy (TFSI) are already working in synergy to support the ongoing transformation in the mobility sector”, commented Mauro Caruccio, CEO of Toyota Financial Services Italia and President and CEO of KINTO Italia. “By promoting credit interoperability across Toyota Group companies in various application areas (finance, insurance, mobility and payment) and through efficient financial flow management, we can offer simple and accessible purchase or use options to ensure ease and flexibility throughout the lifecycle of the car and the customer’s use. We are convinced of the central role that service components will play in supporting a long and challenging energy transition towards carbon neutrality.”
Paolo Zaccardi, CEO of Fabrick, said: “We are proud to have been chosen as a partner by Toyota Financial Services, one of the main players in the automotive sector. This partnership validates the growth path we have undertaken over the years and consolidates our position as one of the main Embedded Finance operators in Italy and Europe. Today, payment systems are an integral part of everyday life and, by developing new methods and innovative solutions, we can integrate them with services such as Toyota Financial Services’ mobility offering. It is no longer just about managing transactions, but about creating a user experience that simplifies payments and serves as a touchpoint for the end customer. To achieve this, we collaborate with companies in different sectors, offering services to end customers, helping them simplify and optimize payment processes and integrating new solutions”.
The collaboration between Toyota Financial Services Italia and Fabrick was born in the context of Finmobility, which focuses on the convergence between the financial and mobility sectors and represents one of the fastest growing trends today.
A trend also confirmed by the results of the whitepaper “Embrace Embedded Finance For Seamless Payment Success: A Spotlight On Europe”, created by Forrester Consulting, for Fabrick, on a sample of over 600 European companies (including leaders in the automotive sector). It emerged that over 60% of the automotive companies interviewed are ready, in the next 24 months, to increase their budgets by over 20% for payment technology solutions such as Digital Wallet (65%), Payment Orchestration and Optimisation (63%), Smart Routing towards a more efficient and high-performance payment provider (61%) and Integrated Multinational Payment Acceptance Functionality (61%).
Clelia Tosi, Head of Fintech District, said: “Fintech District has become a point of reference for the entire Italian fintech ecosystem, with 295 companies in the sector collaborating with our Corporate partners to create new growth opportunities. We are thrilled that such an important player as Toyota Financial Services, a leader in the automotive sector, has joined our network, bringing further value to the entire system”.