Fintech PR
Embedded Banking Market to Reach $1,10,667.66 Million, Globally, by 2032 at 23.6% CAGR: Allied Market Research
The embedded banking market is quickly expanding because of increasing global wealth, growing retirement savings, a shift towards professional management, and the need for investment diversification in a complex financial landscape.
PORTLAND, Ore., Nov. 24, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Embedded Banking Market by type (Payment Processing, Lending, Contactless Payment, Wealth Management and Others), Industry Vertical (Retail and E-commerce, Transport and Logistics, Healthcare Media and Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032. According to the report, the global embedded banking industry generated $13.6 billion in 2022 and is anticipated to generate $110.7 billion by 2032, witnessing a CAGR of 23.6% from 2023 to 2032.
(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)
106 – Tables
50 – Charts
334 – Pages
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Determinants of Growth
As industries undergo digital transformation, there is a growth in demand for embedded banking solutions to integrate financial services seamlessly into various digital platforms and processes. Businesses across sectors have adopted embedded banking to enhance customer experiences and operational efficiency. Furthermore, the continued innovation within the fintech sector contributes significantly to the growth of embedded banking. Fintech companies are at the forefront of developing technologies and solutions that embed banking services into non-financial platforms, creating new opportunities and disrupting traditional banking models. Moreover, embedded banking plays a crucial role in promoting financial inclusion by reaching underserved and unbanked populations. The demand for inclusive financial services, especially in emerging markets, has driven the adoption of embedded banking solutions to provide easy access to banking services.
Report Coverage & Details:
|
Report Coverage  |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$13.6 billion |
|
Market Size in 2032 |
$110.7 billion |
|
CAGR |
23.6 % |
|
No. of Pages in Report |
334 |
|
Segments covered |
Type, industry vertical, and region. |
|
Drivers |
Rise in trend of banking as a service platform Digitalization in banking sector Enhanced customer experience |
|
Opportunities |
Lack of digital literacy in emerging countries Security and data privacy concerns |
|
Restraints |
Diversified revenue streams for non-banking entities |
COVID-19 Scenario
- The impact of COVID-19 on the embedded banking market can be described as mixed. The pandemic accelerated the digital transformation of financial services while it posed challenges for many industries. The increased demand for contactless transactions, remote access to financial services, and a shift toward online platforms created opportunities for embedded banking solutions. Businesses sought innovative ways to adapt to the change in landscape, and the emphasis on digitalization and efficiency became a driving force for the adoption of embedded banking services. However, economic uncertainties and disruptions in certain sectors also presented challenges.
- In addition, the need for contactless and digital financial services surged as lockdowns and social distancing measures were implemented globally. Businesses, especially in retail and e-commerce, accelerated their adoption of embedded banking to offer seamless online transactions and financial services to customers. The focus on remote work and change in consumer behaviors created an increased appetite for innovative solutions that integrate banking functionalities into digital
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The payment processing segment to maintain its leadership status throughout the forecast period
On the basis of type, the payment processing segment held the highest market share in 2022, accounting for more than one-third of the global embedded banking market revenue. This can be attributed to the increase in demand for seamless and integrated financial transactions within various digital platforms, including e-commerce, retail, and mobile applications. Embedded banking solutions, with a focus on efficient payment processing, cater to the growth in need for frictionless payment experiences, driving widespread adoption across industries. However, the wealth management segment is projected to manifest the fastest CAGR of 27.0% from 2023 to 2032, this is attributed to the fact that the growth in demand for integrated financial services, personalized investment solutions, and seamless wealth management tools within digital platforms. Embedded banking caters to this need, offering a holistic approach to financial management and investment services, driving its prominence in the market.
The retail and e-commerce embedded banking segment to maintain its leadership status throughout the forecast period
Based on industry vertical, retail and e-commerce segment held the highest market share in 2022, accounting for more than two-fifths of the global embedded banking market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the widespread adoption of digital transactions, the need for seamless payment processing, and the integration of banking services within online shopping platforms, enhancing the overall customer experience. However, the healthcare segment is projected to manifest the fastest CAGR of 27.4% from 2023 to 2032, this is attributed to increase in focus of the industry on digital transformation, demand for streamlined financial processes in patient care, and the integration of banking services to enhance the overall healthcare financial ecosystem.
North America to maintain its dominance by 2032
On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global embedded banking market revenue. This is attributed to advanced fintech infrastructure, widespread digital adoption, and a proactive shift toward embedded financial services, driven by the tech-savvy consumers and innovative financial institutions of this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 26.8% from 2023 to 2032 and is expected to dominate the market during the forecast period, owing to a rapidly growing digital economy, increased smartphone penetration, and a strong emphasis on financial inclusion, driving widespread adoption of integrated banking services across diverse sectors.
Leading market players: –
- Cybrid Inc.
- EdgeVerve Systems Limited
- Finastra
- Fiserv, Inc.
- Lendflow
- Moshpit Technologies, Inc.
- PayPal
- PAYRIX
- Stripe, Inc.
- Zopa Bank Limited
The report provides a detailed analysis of these key players in the global embedded banking market. These players have adopted different strategies such as expansion and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Report Review:
Embedded banking is a financial services framework that integrates and prioritizes the needs of the consumer by seamlessly integrating banking and financial products with non-banking platforms and apps. This concept makes financial management and transactions more accessible, easy, and efficient by integrating banking services into daily living. Furthermore, embedded banking fundamentally depends on Application Programming Interfaces (APIs) to link traditional banks or financial institutions with a variety of third-party platforms, such as e-commerce websites, mobile apps, and even internet of things (IoT) devices. These APIs allow real-time access to banking services including loans, financial transfers, account management, payments, and more without requiring users to exit the platform or app they are now using. Moreover, the concept of embedded banking has gained considerable momentum in recent times, mostly due to the increase in need for customized and quick financial encounters. It removes the barrier to offering a wider range of financial services for companies, fintech startups, and other non-banking organizations without requiring them to obtain a full bank license.
The rise in trend of banking as a service (BaaS) is a significant driver of the growth of the embedded banking market. BaaS makes it possible for non-banking organizations to easily incorporate banking services into their products, including fintech firms, e-commerce sites, and even conventional enterprises. Furthermore, digitalization in banking sector has driven the demand for the embedded banking market. However, lack of digital literacy in emerging countries has hampered the growth of the embedded banking market Many people in rural areas may not be familiar with or at ease with digital banking services and applications. As a result, they may not be aware of the advantages and security precautions of online banking, and they may only have irregular access to computers, smartphones, and the internet. Moreover, security and data privacy are major factors that hamper the growth of the embedded banking market. On the contrary, diversified revenue streams for non-banking entities are an opportunity for the embedded banking market as by incorporating banking services into their platforms, they enable companies to make more money through fees, commissions, or interest on financial transactions. This ultimately drives the expansion of the embedded banking market by allowing businesses to monetize their user base, improve their overall business model, and increase profitability.
The embedded banking market is segmented on the basis of type, industry vertical and region. On the basis of type, the market is segmented into payment processing, lending, contactless payment, wealth management and others. On the basis of industry vertical, it is bifurcated into retail and e-commerce, transportation and logistics, healthcare, media and entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the network equipment market are Cybrid Inc., EdgeVerve Systems Limited, Finastra, Fiserv, Inc., Lendflow, Moshpit Technologies, Inc., PayPal, PAYRIX, Stripe, Inc., Zopa Bank Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the network equipment market globally. For instance, in February 2022, PAYRIX was acquired by FIS to expand e-commerce, embedded payments, and finance experiences for SMB merchants via platforms. This acquisition is consistent with the aim of FIS of expanding its e-commerce products to businesses of all sizes and industries by embedding payment capabilities within software-as-a-service (SaaS) platforms. Moreover, it is anticipated to also allow FIS to leverage the value of its extensive solution portfolio by providing embedded financial capabilities to small and medium-sized businesses (SMBs) in addition to its e-commerce solutions.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Fintech PR
DAZN ADVANCES GLOBAL EXPANSION WITH ACQUISITION OF FOXTEL, A LEADING AUSTRALIAN SPORTS AND ENTERTAINMENT MEDIA GROUP
- Milestone deal for DAZN’s position as the global home of sport.
- This acquisition establishes DAZN’s sports platform in Australia, one of the world’s most attractive sports markets.
- Foxtel Group will leverage DAZN’s global reach, industry-leading technology and extensive content portfolio to further enhance the viewing experience for Australian sports fans.
LONDON, NEW YORK, and SYDNEY, Dec. 22, 2024 /PRNewswire/ — DAZN, a world-leading sports entertainment platform, has today announced an agreement to acquire Foxtel Group (‘Foxtel’) from its majority shareholder News Corp and minority shareholder Telstra at an enterprise value of US$2.2 billion, subject to regulatory approval.
The acquisition establishes DAZN as a leader in sports entertainment in Australia – a highly attractive sports market – while also expanding DAZN’s global footprint and enhancing the group’s standing as the global home of sport. The addition of Foxtel to DAZN brings the Group’s pro-forma revenues towards US$6 billion and provides the additional content, expertise, and expansion opportunities to accelerate DAZN’s growth trajectory.
Foxtel is one of Australia’s leading media companies, with 4.7 million subscribers, who will benefit from DAZN’s extensive portfolio of sports content, platform technology, and global reach.
From its beginnings as Australia’s original pay-TV innovator, Foxtel has evolved to become a digital and streaming leader in sports and entertainment and the proposed transaction positions Foxtel for continued expansion as a digital-first, streaming-focused business. Foxtel will maintain its local character, led by the CEO, Patrick Delany, and his world-class management team.
DAZN, a sports streaming platform with a truly global reach, is committed to growing the global audience for domestic Australian sports across the 200 territories in which it is available.
Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, enabling them to retain an interest in Foxtel.
Shay Segev, Chief Executive Officer of DAZN, said: “Australians watch more sport than any other country in the world, which makes this deal an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport. Foxtel is a successful business that has undergone a remarkable digital transformation in recent years, and we are confident that our global reach and relentless pursuit of innovation will continue to drive the business forward and ensure long-term success.
“We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology to further enhance the viewing experience for customers. We are also committed to using our global reach to export Australia’s most popular sports to new markets around the world, and we will continue to promote women’s and under-represented sports.
“We’re looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as shareholders in DAZN, to realise our ambitious vision for the future of sport entertainment.”
Siobhan McKenna, the Chairman of Foxtel, said the agreement with DAZN was international recognition of the transformation of Foxtel from an incumbent pay TV operator to a sports and entertainment digital and streaming leader. “Over the last seven years the Foxtel team, with the strong support of News, have achieved an extraordinary turnaround in an intensely competitive environment.”
Foxtel Group CEO, Patrick Delany, said: “Today’s announcement is a natural evolution for the Foxtel Group, having reinvented the company over the past five years as Australia’s most dynamic technology-led streaming company.
“Kayo and Foxtel provide Australian sports fans with access to the best Australian and international sport and shows, including AFL, NRL and Cricket with 4.7 million subscribers.
“We are excited by DAZN’s commitment to the Australian market. They are experts in the sports media business and can play a significant role in supporting Foxtel as the business grows its streaming capabilities, bringing a bigger and better service to customers across entertainment, news and sport. They are a perfect match for us as we look toward this next era of growth.
“We have been grateful for the support of News Corp while we reimagined the future of Foxtel. In 2019, when we merged Foxtel and Fox Sports we had many people questioning our future.
“After launching Kayo later in 2019 and BINGE in 2020, today we are the largest Australian-based streamer of sport and entertainment, we have stabilised our Foxtel base and launched Hubbl to help consumers find all the streamed content they love all in one place. This wouldn’t have been possible without the support and encouragement of News Corp.”
NOTES TO EDITORS
About DAZN
As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide.
DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more including the 2025 FIFA Club World Cup.
DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect. Live and on-demand sports content, anywhere, in any language, on any device – only on DAZN.
DAZN partners with leading pay-TV operators, ISPs and Telcos worldwide to maximise sports exposure to a broad audience. Its partners include Deutsche Telekom, Orange, Sky, Movistar, Telenet, Vodafone, and many more.
DAZN is a global, privately-owned company, founded in 2016, with more than 3,000 employees. The Group generated $3.2bn in revenue in 2023, having grown its annual revenues by over 50% on average from 2020 to 2023, through diverse revenue streams comprising subscriptions, advertising, sponsorship, and transactional. For more information on DAZN, our products, people, and performance, visit www.dazngroup.com.
About Foxtel
The Foxtel Group is one of Australia’s leading media companies with 4.7 million subscribers. Its businesses include subscription television, streaming, sports production and advertising. The Foxtel Group is owned 65% by News Corp and 35% by Telstra.
The Foxtel Group’s diversified business includes Fox Sports, Australia’s leading sports production company, famous for live sports and shows with the best commentators and personalities. It is also the home of local and global entertainment content and continues to be the partner of choice for the widest range of sports and international content providers based on established, long-term relationships, growing streaming audiences, and position as the largest Australian-based subscription television company.
View original content:https://www.prnewswire.co.uk/news-releases/dazn-advances-global-expansion-with-acquisition-of-foxtel-a-leading-australian-sports-and-entertainment-media-group-302337997.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB