Embedded Finance
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Embedded Finance is the use of financial tools or services — such as lending or payment processing — by a non-financial provider.[1]
Description[edit]
The idea of embedded finance, also often referred to as contextual banking, is to “embed“ financial services directly into the products of other nonbank providers. Specialized providers are enabling this by integrating services such as bank accounts, payment cards and lending services seamlessly into the offerings of companies.[2]
The provision of financial services requires a license. So called Banking as a Service providers therefore serve as the basis for embedded finance. Businesses partner with banks that contribute the corresponding license.[3] Today, a large number of providers covering different product ranges have established themselves in this segment. Along with the banking license, they offer suitable solutions ranging from parts of the infrastructure to the entire technology and product platform.[4]
References[edit]
- ↑ https://www.forbes.com/sites/forbesfinancecouncil/2021/08/27/embedded-finance-what-it-is-and-how-to-get-it-right/?sh=50290ce33677
- ↑ https://sifted.eu/articles/embedded-finance-trends-2022-fintech/
- ↑ https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/what-the-embedded-finance-and-banking-as-a-service-trends-mean-for-financial-services
- ↑ https://www.insiderintelligence.com/insights/banking-as-a-service-platform-providers/
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