The big picture of embedded finance and how it’s taking shape in Canada

Table of Contents

We’re going to go ahead and say it – 2023 is the year for embedded finance. This not-so-sneaky little trend has been gaining momentum not-so-quietly, and we’re quite enthusiastic about it. You’ve got brands from several sectors that you’d never associate with financial services, launching, well – you guessed it – financial services. 😮But what is just so fascinating about this trend? Is it the actual financial offerings? Not really. Is it the way that they’re embedding these offerings? Yes, somewhat. Is it the reason why they’re embedding these products? Big yes.Essentially, the integration of financial products into customer journeys on platforms, apps, and marketplaces that aren’t financially focused influences the way customers find, assess, and engage with these financial offerings. This is quite a transformation when you think of it. And this gives us a classical definition of embedded finance. Embedded finance primarily means offering seamless integration of financial services within non-financial platforms. It’s a game-changer, enabling these non-financial platforms to offer financial products directly to their customers – retail consumers, small and medium businesses, as well as enterprise customers. Non-financial platforms across industries, such as e-commerce, airlines, ride-hailing, food delivery, etc., are hopping on the bandwagon, aiming to wow customers, […]

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