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Embedded Finance and Banking as a Service Fuels Customer Experience Modernization Efforts

Publisher IDC
Published Apr 28, 2023
Length 5 Pages
SKU # IDC17897513

Description

Embedded Finance and Banking as a Service Fuels Customer Experience Modernization Efforts


This IDC Perspective discusses how embedded finance and banking as a service is modernizing the customer experience. There is much discussion about the term embedded finance, primarily in the context of other terms that have been used lately in the financial services industry. IDC believes that embedded finance is an evolutionary step in the process of what will ultimately be an open environment in which the roles of multiple, heterogeneous industries will come together to provide value and improved experiences to the customer, both consumers and businesses."Prepare now for how an open world will impact the banks' strategy and brand and plan accordingly," says Marc DeCastro, research director, IDC Financial Insights. "We as an industry need to recognize that in our digital-first world, the trend toward embedded finance, multi-industry ecosystems, and everything as a service is inevitable."

Please Note: Extended description available upon request.

Table of Contents

5 Pages
Executive Snapshot
Situation Overview
Example of Banking as a Service
Evolving to the Future of Industry Ecosystems
Customer Experience and Brand Implications
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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