Embedded banking is on the march.
Financial services have become a key part of the retail e-commerce experience. And thanks mainly due to the growth of payments and credit products like BNPL, embedded banking—or banking-as-a-service (BaaS)—is expected to grow by 40% annually over the next few years.
While fintechs currently dominate the conversation around embedded banking, banks are beginning to recognize the opportunities it offers in business growth and customer acquisition.
But developing embedded banking propositions demands specialized knowledge and expertise. Too often banks rush to launch new products, resulting in tired “me too” propositions that fail to meet customer expectations.
