Huge Potential for Embedded Finance With Bond and FIS | FF News at Fintech Meetup 2024

In this interview from Fintech Meetup, we caught up with Roy NG, Chief Business Officer, Platform and Enterprise Solutions at FIS, who filled us in on the latest movements surrounding embedded finance and why FIS and technology company Bond are a great fit.

Embedded finance is rapidly evolving and the synergy between these two companies enables non-bank institutions to adopt FIS’s extensive financial services capabilities, offering a streamlined, modern approach that benefits both fintechs and non-bank brands.

We find out how the space is moving forward and what opportunities exist for financial institutions.

A pivotal partnership

Embedded finance revolves around leveraging the sponsor bank network to benefit fintech and brand customers. By integrating more products for brand and technology customers, their strategy at Bond aims to create a robust, scalable solution. The acquisition into the platform’s enterprise solution has fostered a culture focused on addressing root problems and facilitating the adoption of FIS’s extensive capabilities.

Historically, FIS has been renowned for delivering financial services to financial institutions. However, a significant mandate of the platform is to extend these services to non-bank institutions. The collaboration with FIS, leveraging their substantial domain expertise and combining it with advanced technology layers, simplifies the consumption of these services for fintechs and brands outside the financial ecosystem. This collaboration represents a significant win-win scenario for customers, providing them with enhanced capabilities and streamlined solutions.

We also hear about how FIS’s scale in banking and capital markets offers a strategic advantage. The ongoing relationship with WorldPay also creates a powerful resource by merging merchant acquiring data with issuing data. This data synergy enables brands to offer highly relevant financial services products to their end-users. The reach and distribution capabilities are also noteworthy.

Ultimately this is a conversation about the emerging potential of embedded finance. Historically dominated by startups aiding other startups, the landscape is now witnessing the involvement of larger organizations, including publicly listed companies.

This shift is enabling these companies to reach previously inaccessible audiences. As the space matures, it is anticipated that more large organizations, banks, and brands will enter the fray, driving significant advancements in the sector. Watch to find out more.