Financial services used to be a “private members club”. The rise of FinTechs, open banking, and the API economy stepped a layer of “exclusivity” from the finance space.
Just like cloud computing democratized digital product distribution, embedded finance enables non-financial brands to make payments, lending, and insurance offerings part of their product portfolio.
Given that every business deals with money, embedded finance presents an opportunity to:
- Diversify revenues through financial products upsells and cross-sells
- Increase conversions by offering contextually prompted financing options at POS
- Trim operating costs by taking ownership of the payment experience
- Boost customer experience by making the payment experience integrated deeply into your product
From automotive and ecommerce to manufacturing and real estate, embedded finance architecture allows any type of brand to join the “finance club”.