Momentum towards embedded finance has been building slowly but surely over the past decade, as demand for seamless e-commerce solutions push both financial and non-financial players to serve their digitally discerning customers more effectively.
The arrival of Covid-19 and the significant shift in consumer behaviour served only to accelerate the growth of embedded finance solutions. With the unexpected global lockdown not only of brick-and-mortar retail, but of countries’ entire workforces, the economy was forced to operate differently, and the need for a digital, accessible world became more urgent.
With significant market appetite and foundations for payments solutions already established, the pandemic laid fertile ground for embedded finance to become entrenched in the everyday lives of consumers. Brands around the world are now scrambling to strategise, develop, and implement their journey toward delivering more effective payment offerings to their customers.
This new Finextra report, produced in association with Solarisbank, includes industry expert commentary from financial institutions such as BBVA, Illimity, Nomo, Orange Bank, and Plaid.