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5 Embedded Finance platforms reshaping the FinTech landscape

By Gloria Methri

October 25, 2023

  • Embedded Finance
  • FinTech
  • Global Processing Services

Digital Banking, Embedded Finance, Payments, Insurance, Open Banking, FinTech, UKEmbedded finance is the direct integration of financial services into a business’s products and services, via API. This enables both financial and non-financial businesses to offer services like payments, banking, lending, and insurance without being regulated as financial entities or having any financial infrastructure themselves.

Customers can enjoy banking-related services from non-banking businesses without disrupting their customer experience and journey. Embedded finance consists of four main underlying categories: embedded payments, embedded banking, embedded lending, and embedded insurance.

An example of embedded finance is when a customer is able to subscribe to an online course and makes payment for it on the website itself.

Listed are five companies offering embedded finance services to the growing customer base in the UK.

Founded in 2007, Liberis is a global embedded finance platform providing small businesses with accessible and responsible finance. It provides partners with the technology platform and financial solutions to offer hyper-personalized and accessible funding, empowering their SMB customers to grow their revenues. With over 14 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided nearly $1 billion of funding in over 45,000 transactions.

OpenPayd is a global payments and banking-as-a-service platform that provides a range of banking and payment services to both financial and non-financial institutions. Its services are underpinned by a global network of licences and are accessible through a single API. These include IBANs, open banking, e-money accounts, FX conversion, local and international payments, card processing, and debit cards.

Railsr is one of the leading embedded finance experience platforms. The company’s APIs make it easy for developers to integrate banking and card functionality into their products and services. The Railsr platform allows customers to focus on their end-user-embedded finance experience while it manages financial regulation, streamlined connectivity to popular payment schemes like SEPA, UKFP, BACs, and SWIFT, and relentless improvement of customer operations.

Thredd, formerly Global Processing Services, processes billions of transactions annually across 44 countries for leading FinTechs, digital banks, and embedded finance providers. Thredd’s solution accelerates the development and delivery of consumer and corporate payment components embedded within digital banks, as well as for expense management, B2B payments, crypto, lending, credit, Buy Now Pay Later (BNPL), FX, remittance, and open banking innovators.

Weavr provides an open, publicly accessible cloud-based platform that connects payment networks and financial providers, and tools for innovators to define, deploy, and consume digital payment flows. Its ready-made, plug-and-play financial services offer unlimited use-cases with unrivalled simplicity meaning users can select the services they need and start adding value to their customers almost instantly.

Also read: Global Digital Banking Vendor & Landscape Report Q2 2024

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