Embedded finance is everywhere, and touches everything, financial and non-financial spaces alike. Embedded finance solutions – leveraged for Banking, Insurance, Lending, Payments as a Service – are becoming the most widely adopted digital technologies.
Nearly half (47%) of U.S. businesses are currently investing in and planning to launch digital finance solutions. As a result, the embedded finance market is expected to reach a market value of $138 billion by 2026.
The dramatic rise in embedded finance is not expected to slow down anytime soon. Consumers can now order food and groceries, buy or sell cars, secure insurance or a mortgage loan, and manage money through a cascade of brands that have enriched the digital marketplace. As digital experiences become more streamlined and consumer-friendly outside of financial services, consumers demand more from their financial products and services – especially from brands they’re already working with.
This means that to gain new consumers – and keep existing ones – brands must rise to the challenge and find ways to offer the best embedded solutions that meet the needs and expectations of their users.
Doing so goes further than gaining and retaining customers; these solutions create new revenue streams, give the business greater insights on use behaviors, decrease purchasing friction and increase engagement.
Dive into Netspend’s latest eBook to learn more about:
- Why embedded finance is a critical path for recruiting and retaining both customers
- The business opportunities of embedded finance: from product, to brand, to retention to engagement
- What Gen Z – the youngest financial consumers – wants and needs from their buying experiences
- A checklist for digitization: from zero to embedded