Webinar on embedded finance – friend or foe for the financial services sector?

30 septembrie 2021

As „no one wants banks, but everybody needs embedded banking” join Anders OlofssonTony McLaughlin and Anders la Cour when discussing how Banking as a Service may transform banks distribution and business models.

Today, Thursday 30 September 2021, at 15:00 BST / 16:00 CEST / 10:00 EDT. Online. Register here.

As consumers demand more convenience, speed, and security from their online transactions, non-financial companies are seeing the opportunity to add to their service offering with white-labelled embedded financial services, tapping into the plethora of Banking as a Service (Baas) solutions that have emerged.

Today these are offered by a multitude of FinTechs, but these solutions often have limitations. FinTechs that do not have banking licences must work with a banking partner, in order to get access to the liquidity, licensing, and regulatory services they need. While this approach works for younger brands, as these businesses grow and scale it becomes far less appealing to be partnered with a FinTech that is reliant on an additional bank partner. And that could be a partner that could choose to de-risk the market or geography in which the FinTech operates at any point.

As a response, a new category of financial infrastructure providers that are equipped with the necessary banking licences, agnostic technology platform and liquidity is emerging. This new era of technology platforms supporting global commerce are not limited to the provision of one single solution, but a whole suite of them built in a collaborative ecosystem. Being able to work with a single provider that can deliver a multitude of services from payments to lending, presents significant benefits, from improved speed to market to cost savings. .

In the new Finextra webinar, hosted in association with Banking Circle, industry experts will discuss the following topics:

. How do banks and FinTechs currently view BaaS? What is the current market sentiment toward BaaS platforms?

. What are the weaknesses of current BaaS offerings?

. What transpires when a business attempts to scale when its BaaS provider does not have the necessary banking licences?

. How does being tied to a bank with legacy infrastructure impede on a business’ ability to implement embedded finance solutions? How does it impact the risk profile of a business?

. What are the benefits of working with a single well-structured BaaS provider above working with several FinTechs?

Register here for the next Banking Circle webinar on Thursday 30 September 2021 at 3pm BST, as industry experts discuss embedded finance – friend or foe for the financial services sector?

Speakers include:

Scott Hamilton – Global Payments & Liquidity Expert, Contributing Editor [Moderator]

Anders la Cour – CEO, Banking Circle

Anders Olofsson – Head of Payments, Finastra

Tony McLaughlin – Managing Director, Transaction Banking, Citi

Beat Bannwart – Digital Transformation & Ecosystems, WMPC Tech, UBS

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Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?