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Banking as a service, embedded finance can unlock new value chains
January 17, 2023
The partnership with Falcon will enable Yes Bank to provide customers with tailor-made financial solutions by leveraging Falcon’s wide suite of products, backed by technological infrastructure. Prabhtej Bhatia, co-founder of Falcon, said, “We’re already working with the bank on introducing several innovative use cases and product lines, and the initial traction and response from customers have been phenomenal.”
At a macro level, the banking and financial services industry are in the midst of a technology-led transformation phase, and it is believed that the banks of the future will look very different from today. Embedded finance is the latest buzz as it is entirely changing the banking and financial services landscape.
As such, embedded finance allows brands and businesses to integrate financial services into their existing platforms and applications and natively offer financial products to their customers. Undoubtedly, it is one of the fastest-growing sub-segments in the fintech ecosystem. As more financial providers embark on their digital transformation journeys, embedded finance will be even more widespread, contextually displacing the need for traditional banking.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/