Dr. Ozan Ozerk Spoke at ‘Fintech Forward’ about Embedded Finance’s Progress and Potential

Dr. Ozan Ozerk, serial fintech entrepreneur and founder of global payment services provider OpenPayd, shared his views last week at Fintech Forward, one of the premier events on the global financial technology calendar. Hosted by The Economist and Bahrain Economic Development Board (EDB), the event brought together innovators, industry leaders and policymakers to discuss the latest trends shaping the fintech landscape. During his panel discussion titled “Check-in: Embedded Finance,” Dr. Ozerk outlined embedded finance’s progress and explored its vast potential to reshape financial services globally.

Dr. Ozerk spoke from his most recent experience, having built a number of successful fintech ventures, at the panel moderated by Jan Piotrowski of The Economist. They were joined by Niraj Naetsawan of Additiv, where clients embed relevant financial services into everyday platforms. They had a fruitful exchange, offering the audience key insights into how embedded finance is “no longer the new kid on the block” but has proved its mettle in driving financial inclusion and operational efficiency across many industries.

“A smarter way to reach the underbanked and underserved”

Dr. Ozerk pointed to the significant strides made by embedded finance over the past five years, as well as its practical applications and transformative impact on underserved markets.

“In many areas worldwide, people are still not being well served by the finance industry at large. Whether it’s due to poor underlying infrastructure, mistrust of traditional systems, or a whole host of other reasons, individuals and businesses are not getting access to services that could benefit them. Embedded finance offers a smarter way to reach the underbanked and underserved,” he stated.

“These services can now be seamlessly integrated into platforms people already trust and use, making financial adoption easier and more intuitive. He cited the successful integration of payment services into its messaging platforms as a great example of how embedded finance transforms everyday experiences in places where financial accessibility is limited.”

Connecting the worlds of fiat currencies and crypto

Another key theme in Dr. Ozerk’s talk was how embedded finance is bridging the gap so efficiently between traditional financial institutions referred to as ‘TradFi’ and the burgeoning world of digital assets known as ‘Crypto’. As cryptocurrency adoption grows, especially in regions like Latin America, there’s a growing urgency to deliver solutions that facilitate smooth transitions between fiat currencies and digital assets.

“Far from being its competitor, embedded finance is empowering further growth of crypto,” Dr. Ozerk noted. He explained how embedded finance allows crypto businesses to manage their entire payment ecosystems within a single app, offering a frictionless experience for users who can dip in and out of both worlds.

“Providers like OpenPayd help businesses navigate the complexities.”

As the regulatory landscape of fintech becomes more complex, with frequent updates surrounding areas like APP fraud reimbursement and the New Consumer Duty, Dr. Ozerk noted the advantages for businesses to partner with embedded finance providers like OpenPayd rather than attempt to build in-house capabilities.

“The build vs. buy debate is becoming increasingly one-sided,” he remarked, pointing to the significant operational and compliance benefits of partnering with established embedded finance platforms that meet stringent regulatory demands so that businesses can focus on their own growth.

Throughout the panel, Dr. Ozerk conveyed the main point that embedded finance is unlocking unprecedented opportunities for both financial and non-financial businesses, pioneering smarter, more inclusive financial services across the globe. He concluded, “While we are truly excited by what embedded finance has achieved so far, we’ve barely scratched the surface of what it’s capable of.”

Fintech Forward fostered valuable discussions and strategic partnerships again this year with its 1000+ global attendees and 40+ speakers, establishing itself as a lively platform for fintech leaders to exchange ideas, showcase innovations and set the agenda for the future of digital finance. Dr. Ozerk’s panel address at Fintech Forward offered a mix of forward-thinking and practical insights about the growing stature of embedded finance and the next generation of financial services.