How Retailers Can Enter the World of Embedded Finance Confidently

The markers of the digital consumer revolution are evident: shifting expectations for quick and convenient access to services, the rise of online shopping, and the need for experience-driven interactions, to name a few. Moreover, shoppers desire innovative and seamless digital payment experiences with their favorite brands, an emerging trend poised to redefine how people perceive traditional banks.

Already, brands including Ikea, Starbucks and Lyft offer customers financial services via loyalty and mobile payments, interest-free credit, as well as debit and savings accounts. The key enabler for these businesses is embedded finance, a software distribution model that allows nonfinancial companies to lend, accept payments, and even offer insurance without requiring a financial institution. Embedded finance will touch many industries, but none more so than retail.

What is Embedded Finance and What are its Benefits?

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Learn more about how EPAM can help retailers embrace emerging technologies and rising customer expectations here.