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Daily Tearsheet: More eyes on core banking software, and innovating fintech faster with embedded payment partnerships

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Daily Tearsheet: More eyes on core banking software, and innovating fintech faster with embedded payment partnerships

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The power of APIs for FIs: Innovating fintech faster with embedded payment partnerships

There’s a lot of buzz in the market about how embedded payments can help non-financial brands innovate their retail ecosystems. But embedded finance partnerships aren’t just for non-FIs. 

For financial institutions, like lenders and credit card issuers looking to innovate their fintech offerings faster, embedded payment partnerships deliver access to open and flexible APIs to launch products at speed and scale.

Embedded finance partnerships present vast opportunities for financial institutions and non-financial institutions alike who share one common goal: integrating payments solutions through the application of agile APIs that can bring new and innovative offerings to their customers with greater ease.

Creating new experiences to delight customers is about achieving four core goals: simplicity, flexibility, expertise, and scale.

Read more (sponsored by Netspend)

The latest briefing

Banking Briefing: More eyes on core banking software

Core banking software may not have been as scrutiny-grabbing as BNPL or crypto, but now that the industry is growing, the CFPB is taking notice.

The growth in core banking has to do with incumbents’ push towards digital transformation and an increased focus on maintaining consumers’ interest as they become more dependent on digital banking services. But the market, while growing, is now being put under the lens. 

In other news – what’s up with Apple’s recent acquisition of Credit Kudos? And just how do banks play a role in consumers’ mental health?

Read more (exclusive to Outlier members)

Just look at the charts

1. Types of fees charged by BaaS distributors

SourceFinastra

2. The shift from a centralized model (web2) to a decentralized model (web3)

Sourcea16z

Today’s stories

Lawmakers want Visa and Mastercard to scrap raised card fees
Visa and Mastercard are planning to raise their card fees this month, which could hurt consumers struggling with inflation (WSJ)

Vanguard offers financial advice service to Amex cardholders
Investment management firm Vanguard has partnered with American Express on a new financial advice service, “INVEST”, which will reportedly cut costs and complexity (PYMNTS)

Spend management keeps growing
The number of players in spend management keeps expanding – and some consider the sheer size of the B2B payments space to be the driving factor (TechCrunch)

Red Sox announce ‘fully cashless experience’ 
The Boston Red Sox are the latest sports franchise to go cashless, with concession stands that will only accept credit cards or touchless payment with smartphones (PYMNTS)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

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