Embedded Banking Market market is expected to grow at a CAGR of 25.1% during the forecasted period | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Embedded Banking Market size accounted for USD 30.1 Billion in 2023, growing at a CAGR of 25.1% from 2023 to 2033. Embedded banking refers to the integration of banking and financial services into non-banking platforms or applications. Instead of relying on standalone banking applications, users can access financial services seamlessly within the platforms they already use, such as e-commerce websites, social media platforms, or mobile apps. This integration is often facilitated through application programming interfaces (APIs) that allow different systems to communicate and share data.

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Embedded banking offers users the convenience of accessing financial services within the applications they already use regularly. This eliminates the need to switch between different apps or platforms for banking needs. Integration of financial services into existing platforms enhances the overall user experience. Users can perform transactions, check balances, and manage their finances without leaving the application, leading to a more seamless and user-friendly experience. Traditional banks and fintech companies are increasingly forming partnerships with non-banking entities to embed financial services. This collaboration allows companies to leverage each other's strengths and provide more comprehensive services to their customers.

Key Players
Some of the major Embedded Banking Market players holding high market shares include PayPal Holdings, Inc., PAYRIX, Zopa Bank Limited, and Cybrid Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include EdgeVerve Systems Limited, Moshpit Technologies, Inc., Lendflow, Stripe, Inc., Fiserv, Inc., Finastra

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Segmental Analysis
Based on type, the Embedded Banking market is segmented into Payment Processing, Lending, Contactless Payment, Wealth Management, and Others. The payment processing segment is the largest segment of the Embedded Banking market. This is due to the growing popularity of e-commerce and online payments, which has led to a significant increase in demand for embedded payment solutions. Embedded payment solutions allow merchants to accept payments from customers without having to redirect them to a separate payment gateway. This provides a seamless and convenient payment experience for customers, which can lead to increased sales and customer satisfaction.

Based on industry verticals, the Embedded Banking market is Retail and E-commerce, Transportation and Logistics, Healthcare, Media and Entertainment, and Others. The retail and e-commerce industry is the largest vertical segment of the Embedded Banking market. This is because this industry is highly reliant on online transactions. Embedded banking solutions can help retailers and e-commerce businesses improve their customer experience, reduce costs, and increase operational efficiency. For example, embedded banking solutions can be used to offer buy now, pay later (BNPL) options, which can help to increase sales by allowing customers to spread out the cost of their purchases over time.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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