Embedded finance is the integration of financial services into non-financial platforms, brands and communities. This integration makes it more convenient for users to access services that they may go elsewhere for. Types of embedded finance include a ride-sharing app offering insurance, a major retail brand branching out into banking with a new current account, or a membership organisation offering discounted mortgages to its members.
In the fast-paced world of finance and technology, embedding financial services within non-financial platforms is revolutionising the way businesses and consumers manage their finances. Appius leads the way in integrating financial products into various digital channels and solutions with innovative integration options.
We help brands of all sizes provide a complete service, so their customers don't have to leave their website and can get the full financial service within that customer experience. Our embedded finance offering solutions could be the key you are looking for to expand your offerings as a business and gain an extra revenue stream.
Insurance naturally compliments other product purchases that need to be covered, and price comparison sites are so dominant for insurance that many providers are excited by this alternative strategy. Embedded insurance allows you to incorporate protection into your products and services in several ways: it can be offered as extra coverage for a product or service during the purchase, or it can be provided as an extra advantage to your clients along with other services — for example, a property firm or financial organisation that also provides their clients with homeowners or life insurance.
Embedded insurance makes it easier for insurers to sell to directly to consumers without these website users considering competitor products. This is because they are being offered everything they need in one place from a brand they trust in a solution they are already using.
We can facilitate the definition of your entire embedded finance strategy – spanning from technical, user experience, partner options, marketing and analytics. See more in our blog post “Embedded finance and insurance : 5 things you need to consider in your approach”.
We have provided an integrated strategy for many of our clients. Read our LifeSearch case study to learn about how we worked with this life cover provider to offer embedded finance to brands like Which? and PensionBee . Working to identify ways that financial service providers and brands can go to market using a fully controllable method avoiding big market spend. Take a look at the Powered By website to see how we have helped LifeSearch position and market their offering.
No two businesses are the same. Appius recognises this and offers tailor-made solutions that align with your specific industry and objectives.
30/08/2023 15:20 by Sarah Woolven