摘要： Embedded finance has been a boon to businesses and consumers.

Embedded finance has been a boon to businesses and consumers.

In an interview with PYMNTS, Salman Syed, chief operating officer at Fidel API, took stock of the seismic shifts that are occurring due to the rise of embedded finance: Only a few years ago, debit cards were solely the province of the banks — and now, all manner of firms can, and do, issue those cards.

“It’s early innings,” he said of the innovations tied to embedded finance.

Financial data, of course, is becoming more accessible with the rise of open finance — allowing developers to create experiences that leverage real-time insights, including the crafting of loyalty and rewards programs that are offered at the point of transaction.

There’s at least some friction in the mix. Many financial products and services remain challenged by a lack of real-time visibility. However, companies can realize more value by leveraging embedded finance — even if they don’t “own” payment products.

By way of example, Syed offered up the case of expense management platforms, where the value to enterprise users is the capability of the software to help those companies manage core financial processes.

The pain points are evident: Most finance and HR teams do not see corporate spend happening until after the fact. Speedier budgeting and spend management is akin to simply improving existing processes (like grabbing onto faster horses rather than embracing the car, a la Henry Ford’s famous quote.)

Better transaction-level visibility, he said, winds up “fitting a real need” and setting the stage for the innovations that are further down the road.

There’s a silver lining here: Visibility, he said, can be accessed by application programming interfaces (APIs), which in turn can help stakeholders’ real-time financial experiences.

He noted that APIs from providers (including Fidel API) enable companies to see their customers’ spend on enrolled cards as it happens and build real-time experiences at the point of purchase. They also allow users to link their own cards, eliminating the need for expense management platforms to issue their own cards.

“We’re seeing those transactions, as they happen, in real time,” Syed observed.

轉貼自： pymnts.com

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