Earlier this week, FinTech Alliance hosted a fireside chat with Doug Woolridge, Vice President, Head of Financial Services, Canada at EPAM and Kunal Galav, Global Head Partnership Development & Advisory at Mambu.
We discussed their recently released white paper on embedded finance and how retailers and retail banks can navigate this emerging landscape to help build a competitive advantage.
An introduction to embedded finance
As outlined in the white paper, embedded finance is predicted to be a $7.2tn opportunity by 2030, with the retail sector accounting for almost half of this.
So how will embedded finance help companies? Doug Woolridge believes that it is much more than “just a software product.” It represents a great opportunity for organizations to offer financial services to their existing customer base.
Kunal Galav explained how embedded finance is ultimately “driven by customer needs” and has become a positive buzzword as expectations evolve towards a seamless user experience. This will create a new opportunity for businesses to give their customers “the flexibility to embed and integrate different platforms” in one place, he said.
Read the full article here.
Learn how to navigate the journey from retailer to FinTech here.