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Embedded finance: Dear CEO
In March (2023) 3 JIBFL 190, we discussed some of the challenges in providing sustainable finance products to consumers from the perspective of revenue-based finance; an embedded finance offering. Namely, there is a balance to strike between: (i) speed and automation; and (ii) positive customer outcomes. On 16 March 2023, the Financial Conduct Authority (FCA) issued a Dear CEO letter (Letter), addressed to payment firms supervised by the FCA within its payments portfolio, highlighting concerns that certain payment firms are not currently striking this balance. For embedded finance, the Letter will primarily impact providers that offer embedded banking services (if they are supervised payment firms), but it may have a wider impact across the industry.
1 JUN 2023Market Movements - January 2023
CMS reviews key market developments in the banking sector
1 JAN 2023Market Movements – October 2022
CMS reviews key market developments in the banking sector
1 OCT 2022Embedded finance: market challenges and market changes
In September ((2022) 8 JIBFL 560) we outlined that embedded finance is the availability of financial products, integrated into a company’s infrastructure, provided by non-financial institutions (platform lenders) and capitalised by “traditional” financial institutions. One of the benefits of embedded finance is an enhanced customer experience. This customer-led approach will become more important in the current and forecast economic environment. COVID-19 drove a change in consumer habits and demands and saw record valuations for fintechs. However, as the world economy faces an increasingly challenging outlook, there has been a so-called “rebalancing” of these high valuations. In July 2022 credit card transactions by UK cardholders were up by nearly 10% on last year (UK Finance) and global e-commerce revenues are forecast to shrink for 2022. Does this signal trouble ahead for embedded finance?
1 DEC 2022Market Movements – February 2023
CMS reviews key market developments in the banking sector
1 FEB 2023Market Movements – February 2024
CMS reviews key market developments in the banking sector
1 FEB 2024Market Movements – November 2023
CMS reviews key market developments in the banking sector
1 NOV 2023
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