What is driving growth in embedded finance?

  • March 13, 2023
  • Future Banking
  • 2 min read

Barely half a century ago, your finances, your business, and your everyday life were managed in distinct ways. You withdrew cash to pay for groceries, paid your supplier with a check, and getting a line of credit could be difficult if you weren’t a large corporation or wealthy individual.

  • This article is taken from Romania’s Fintech Map by Future Banking. The report is available for download here.
  • Author: Cătălin Crețu, General Manager @ VISA (Romania, Bulgaria, Croatia and Slovenia).

But today, thanks to embedded finance, the ability to do all these things, and more, is woven into the fabric of websites, apps and marketplaces. These experiences have become so seamless, you probably don’t think much about the role embedded finance plays in your everyday life.

Hopping in a rideshare? It’s not a new concept, but have you thought about what’s happening behind the scenes? The fare is charged automatically when you arrive at your destination – and from there, the driver can get paid instantly to a virtual card. That’s embedded finance. Need to send your cousin who lives halfway across the world a wedding gift? Using your mobile banking app, you can push funds directly to their debit card or a virtual card in seconds.

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