Toyota Financial Services Italy, part of the Toyota Group, has become a corporate partner of the Fintech District, an Italian community for fintech and techfin innovation. The collaboration, which aims to explore new growth and investment opportunities with fintech entities, includes working with Fabrick to integrate embedded finance services into vehicles.
Mauro Caruccio, CEO of Toyota Financial Services Italy and KINTO Italy, said, “The collaboration with Fabrick is part of a broader strategic direction for the Toyota Group, aiming to enhance a multi-technological approach in vehicle electrification by offering a comprehensive and integrated range of financial and mobility services.”
Caruccio highlighted that promoting credit interoperability across all Toyota Group companies will “offer simple and accessible purchase or usage options to ensure ease and flexibility throughout the entire lifecycle of the automobile and customer usage.” He also emphasised the central role of service components in the energy transition towards carbon neutrality.
Paolo Zaccardi, CEO of Fabrick, said: “This partnership validates the growth path we have pursued over the years and solidifies our position as one of the leading Embedded Finance operators in Italy and Europe. It’s no longer just a matter of managing transactions; it’s about creating a user experience that simplifies payments and serves as a touchpoint for the end customer.”
The collaboration between Toyota Financial Services Italia and Fabrick originates within the framework of Finmobility, which focuses on the convergence of 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”, carried out by Forrester Consulting, for Fabrick, on a sample of more than 600 European companies (including automotive industry leaders).
It emerged that more than 60% of the surveyed automotive companies are ready, over the next 24 months, to increase their budgets by more than 20% for payment technology solutions such as Digital Wallet (65%), Payment Orchestration and Optimisation (63%), Smart Routing to a more efficient and high-performing payment provider (61%), and Integrated Multinational Payment Acceptance Functionality (61%).
Toyota Kreditbank expands white label finance solutions for car dealers
