What is Embedded Finance? How it can help Fintech and eCommerce
Embedded finance is a relatively new concept in the financial industry that involves integrating financial services and products into non-financial applications and platforms. Essentially, it's about embedding financial functionality directly into the customer's experience within other industries. This approach leverages APIs (Application Programming Interfaces) and partnerships to offer seamless, contextually relevant financial services. Here's how embedded finance can benefit various industries: Fintech Industry: Product Expansion: Fintech companies can use embedded finance to expand their product offerings. For example, a peer-to-peer lending platform might embed insurance products or savings accounts into its platform. Enhanced User Experience: By integrating payment gateway into their platforms, fintech companies can offer a more convenient and holistic user experience, reducing the need for customers to switch between multiple apps or websites. Monetiz