Embedded Finance Market to Witness Significant Incremental Opportunity Through 2031

Embedded finance is the integration of financial services into everyday products and services. This can take the form of in-app payments, peer-to-peer lending, and other financial services being offered through non-financial companies.

Embedded finance has the potential to reach a larger audience than traditional financial services companies, as it can tap into existing customer bases of non-financial companies. This can help to increase financial inclusion, as people who may not have access to traditional financial services can still make use of these services through embedded finance.

There are some risks associated with embedded finance, as non-financial companies may not have the same level of experience or regulation as financial services companies. However, if done correctly, embedded finance has the potential to provide a wider range of people with access to financial services.

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Key Trends

There are three key trends in Embedded Finance technology:

1. The move towards open banking and APIs: Open banking is a term used for the increased access that financial institutions are giving to third-party developers to their customer data. This is being driven by new regulations, such as the EU’s Payment Services Directive 2 (PSD2), which requires banks to provide access to customer account data to third-party providers with the customer’s consent. This is opening up new opportunities for financial technology (fintech) companies to develop new products and services that can be “embedded” into the existing banking infrastructure.

2. The rise of mobile banking and payments: The increasing popularity of mobile devices is changing the way people bank and make payments. More and more people are using mobile apps for banking and payments, and this trend is only set to continue. This is creating new opportunities for fintech companies to develop mobile-first products and services that can be integrated into the banking apps of major financial institutions.

3. The growth of digital currencies: Digital currencies, such as Bitcoin, are becoming increasingly popular. This is creating new opportunities for fintech companies to develop products and services that can help financial institutions to manage and trade digital currencies.

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Key Drivers

There are a few key drivers of the Embedded Finance market. Firstly, the increasing demand for financial services from consumers and businesses is driving the need for financial institutions to offer these services in new and innovative ways. Secondly, the rise of mobile and digital technologies is making it easier for financial institutions to offer financial services through mobile apps and other digital channels. Finally, the increasing regulation of the financial sector is driving financial institutions to look for new ways to offer financial services that are compliant with regulations.

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Market Segments

The embedded finance market is segmented by type, end-user, and region. By type, the market is classified into embedded insurance, embedded investments, embedded lending, and others. Based on the end-user, it is bifurcated into brokerage firms, insurance companies, mortgage companies, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

Key Players

The global embedded banding market includes players such as Bankable, Banxware, Cross River, Finix, Flywire, Marqeta, Railsbank, OpenPayd, Plaid, Q2, and others.

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