Embedded Finance

CHAPTER SIXA MORE SUSTAINABLE AND EQUAL WORLD

At this point it should be clear that embedded finance makes sound business sense. While still early, the numbers speak for themselves in terms of the revenue impact that embedded finance has on businesses both online and off. But does it make sense beyond the boardroom and the balance sheet? What is the larger impact on the world and society as a whole?

This chapter will look more closely at the human element as leaders think about their teams, the talent of the future, and, more broadly, their impact on the world. Specifically, we will discuss how embedded finance fosters financial inclusion among consumers and broader society while supporting key initiatives like sustainability.

DATA AS A FORCE FOR GOOD

One of the promises of fintech, as it emerged from the financial crisis of 2008–2009 that left so many families reeling, was that it would help all people have access to financial services in a way that resonated with them. By improving their financial health, by reducing friction and speeding up access to money, by reducing transaction costs and providing more ways to budget and save, fintech was supposed to make customers’ lives better.

What does financial inclusion really mean at scale and in practice? Financial inclusion means that people and businesses have access to affordable services to help them improve their financial lives. Embedded finance, by dramatically altering and expanding where and how customers touch financial ...