Quick Q&A on
Embedded
Finance
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Tech giants like Apple and Google have staked out a leading role in embedded finance with their mobile payment and digital wallet services. Fintechs and megabanks have as well. Not to be outdone, community banks, credit unions and mid-tier banks are aggressively deploying embedded finance solutions to improve the financial lives of their customers and members.
BAI talks with Jeff Chen, an expert in delivering digital banking solutions, about the benefits of embedded finance.
In this one-page Q&A, Jeff answers these questions:
- As nonbank companies embed financial services in their offerings, how can banks and credit unions play a role?
- How can embedded finance make it easier for customers to access the services they need?
- How do Uber and Amazon Fresh customers use embedded finance?
- Is embedded finance more apropos for small business customers than it is for retail consumer customers?
- How has open banking paved the way for embedded finance?
