- Sage is developing financial services that bring business account, debit card, payment and reconciliation capabilities into the software small businesses use to manage their finances
- Adyen will provide Banking-as-a-Service infrastructure and onboarding for Sage’s first implementation in France
- Mastercard will serve as Sage’s card network partner, supporting the debit card capabilities within the service
Sage (FTSE: SGE), the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), today announced at Sage Future for Partners Amsterdam partnerships with Mastercard and Adyen, the global financial technology platform of choice for leading brands, as it develops integrated financial services for small businesses across the European markets where Sage operates. Mastercard will serve as Sage’s card network partner, supporting debit card capabilities within the service, while Adyen will provide Banking-as-a-Service infrastructure and onboarding for the first implementation in France.
Across Europe, small businesses are running their finances across a growing number of tools.
Accounting software is now one part of a wider financial stack, and new e-invoicing and digital reporting requirements are arriving market by market. Sage is developing services that bring banking, payments and reconciliation into the software small businesses already use, starting with France and expanding across its European markets.
That growing complexity is reflected in Mastercard research, which shows that European SMEs use five digital business tools on average, with 70% saying integrated tools are critical to their business. By connecting banking services with accounting workflows, Sage aims to reduce the need for businesses to move between systems, re-enter information and reconcile transactions separately.
“Small businesses shouldn’t have to move between separate systems to manage their finances,” said Derk Bleeker, Chief Commercial Officer, Sage. “We’re developing services that bring more of those everyday activities into the software they already use to run their business. This is the first implementation of our broader European Banking-as-a-Service strategy and an important step in helping customers manage more of their financial activity through Sage.”
Bringing financial operations into one place
Small businesses often use separate systems to manage accounting records, make payments, monitor company spending and reconcile transactions. Moving between those systems can create additional administration, duplicate effort and make it harder to maintain an accurate, up-to-date view of their financial position.
Research from Oliver Wyman found that 53% of SMBs surveyed across France, Germany and the Netherlands identified accounting and ERP software as their preferred platform for accessing embedded finance products, while 64% planned to use new or additional embedded finance products through their software provider within the following 12 months.
Designed to complement customers’ existing banking relationships, the service will bring together business account, debit card, payment and reconciliation capabilities within Sage software.
When bank accounts and debit cards live inside Sage, everyday banking happens seamlessly in the background. Books update automatically as money moves, reducing the need to move between separate systems and giving businesses a real-time view of their cash position instead of yesterday’s snapshot.
“Small businesses are at their best when they can focus their time and energy on growing their business, not navigating fragmented financial tools,” said Mark Barnett, Global Head of Small and Medium Enterprises at Mastercard. “By bringing payments and financial services directly into the Sage experience, we’re helping make everyday financial management simpler and more connected. Starting in Europe, we see an opportunity to bring this more connected approach to small businesses around the world.”
Bringing Banking-as-a-Service to Sage customers
The first implementation is planned for Sage 50, Sage 100 and Sage Active in France, with Adyen providing Banking-as-a-Service infrastructure and onboarding. Sage expects its approach and provider arrangements to vary across markets as it develops the strategy across Europe.
Customers will be able to make payments, manage company spending using debit cards and keep banking activity connected with their accounting in Sage. The service is designed to complement customers’ existing banking relationships rather than replace them.
Bringing banking services and accounting workflows together also strengthens the proposition Sage partners can take to customers, giving small businesses more of the capabilities they need through a connected financial experience.
“Financial services belong within the platforms businesses already use,” said Nicole Olbe, President, EMEA at Adyen. “The future of finance is embedded. By powering Sage with Adyen’s Banking-as-a-Service infrastructure, we are providing the enterprise-grade engine that makes this possible, allowing Sage to transform its software into a comprehensive financial hub where small businesses can manage accounts, payments, and reconciliation all in one place.”
