Embedded Finance: A Marketplace Differentiator for Banks 2023 | Finextra | 7 March 2023 | Online

This is not a new concept. Corporations outside of the financial services industry have provided banking services through credit cards at shops, supermarkets, and airlines; financing at retailers; and loans at car dealerships for decades. With a strong focus on connectivity and integration, the latest era of embedded finance has uncovered how banks can bring the benefits of an embedded ecosystem to their customers.

While some industry leading banks are developing the future of their embedded finance strategy, others have found themselves unsure of where to begin. Banks that put a clear long-term embedded finance strategy in place, will capture additional market share as larger corporations move toward an embedded future.

With use cases ranging from streamlined onboarding, decreased manual processes, improved customer satisfaction, new market growth, reduced lending risk, reduced back-office costs, improved cash management, and virtual cards, it is clear that this trend demands the attention of both banks and their corporate customers

Banks and financial institutions must take lessons learned from retail embedded finance use cases and overcome issues related to bolstering their role within the ecosystem by leveraging APIs, to ensure they are viable competitors.

2023 Speakers

Jane Cooper
Researcher, Finextra [Moderator]

Ruchi Bhardwaj
Principal Product Manager, Financial Services, Business Network, OpenText

Rebecca Meeker
Senior Vice President, Mastercard