Embedded finance
Financial products such as payments, accounts, cards and loans offered inside a non-bank's app or website, usually provided by a bank partner.
What embedded finance is
Embedded finance is the offering of financial products, such as payments, accounts, cards or loans, inside a company whose main business is not finance. A ride-hailing app that pays drivers in near real time and a software platform that offers business accounts are examples. The regulated product usually comes from a bank through Banking-as-a-Service (BaaS).
How it works
The platform designs the experience and serves its users. A bank partner provides the regulated product, holds the funds and runs compliance oversight. APIs connect the two, so the product feels native to the platform.
- 01 · CHOOSE The platform picks what to embed, such as payouts, a debit card or financing.
- 02 · CONNECT It integrates the bank partner's APIs and designs the customer experience.
- 03 · LAUNCH Customers use the product in the platform; the bank holds funds and oversees compliance.
When businesses use it
- Marketplaces and gig platforms that pay sellers or workers inside the app
- Software platforms that offer business accounts and cards to their customers
- Retailers that offer buy now, pay later at checkout
- Apps that add embedded lending or savings for their users
Cross River works with platforms ranging from payroll companies to insurance businesses and payment processors. COS, its API-driven bank core, connects each one to products it can tailor to its customers. See embedded finance at Cross River.