As banks globally undertake digital banking transformations, embedded finance is a fast-growing trend that many non-financial companies have begun implementing within their own strategies – but what are the best practices to get this done properly?
At FTT Embedded Finance UK & Europe 2021, our rockstar panellists argued about the different approaches to enhancing value propositions through embedded finance. The panel, moderated by Liesl Bebb-McKay, Director at BBD, explored the best practices to integrate embedded finance into different business models.
Henrik Rosvall, Chief Executive Officer at Dreams commented on some of the best practices he’s noted in the embedded finance space and creating a model that works: “It is great to see that these kinds of embedded solutions can really enhance the user experience and target slightly different segments with spot-on services, I think that is the big benefit.”
Accordingly, Tom Bentley, Chief Commercial Officer at Vodeno added that for the cloud platform, it is all about customer experience as well: “When we talk about cloud being API-first and all these things are important, but it is just as important to feel seamless in customer experience.”
Ben Reade, Strategic Partnership Lead at Pure Planet, stressed the importance of having a frictionless experience at point-of-sale: “We have a lot of potential customers filling their personal and bank details, and the stage where we lose more customers is the direct debit stage, so it is something we are looking to improve.”
The panel also highlighted key trends emerging from fintechs that other organisations, such as retailers or manufacturers can learn from when redefining their business models.
Watch the full panel discussion below:
We already have a save the date for the upcoming FTT Embedded Finance UK and Europe (26th of April 2022, County Hall, Westminster, London) and look forward to continuing to grow this exciting and disruptive community.