Embedded finance is the seamless integration of digital banking, along with other financial products and services, into nonfinancial companies’ platforms or applications. The technology allows quicker and easier access to financial services, without needing to go through banks. It integrates banking, lending, insurance, and investing services into apps and platforms used by companies outside of the finance sector. It is the placing of a financial product in a nonfinancial customer experience, journey, or platform. It has great potential to empower unbanked groups. It can help foster economic growth. It can open new revenue streams for businesses and enhance customer convenience. It is drastically changing when, where, and how people interact with financial services. This paper examines the various applications of embedded finance.
finance, embedded finance, finance industry
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