Global Embedded Finance Market: 2024-2028

Description

KEY STATISTICS
Total transaction value in 2024:	$92bn
Total transaction value in 2028:	$228bn
2024 to 2028 market growth:	148%
Forecast period:	2024-2028

Overview

Our "Embedded Finance" research suite provides a detailed and perceptive analysis of this evolving market; enabling stakeholders from banking services, infrastructure providers, payment services, regulators, insurers, eCommerce platforms, and technology vendors to understand future growth, key trends, and the competitive environment.

The suite features several different options that can be purchased separately, including access to data mapping the adoption and embedded finance market growth in the coming years, and an insightful study uncovering the latest trends and opportunities within the market. Additionally, the report contains an extensive analysis of the 19 market leaders in the embedded finance space. The coverage can also be purchased as a Full Research Suite, containing all of these elements, and including a substantial discount.

Collectively, they provide a critical tool for understanding this rapidly emerging market, allowing financial institutions and technology vendors to shape their future strategy. Its unparalleled coverage makes this research suite an incredibly useful resource for charting the future of such an uncertain and rapidly growing market.

SAMPLE VIEW

Market Trends & Forecasts

Key Features

Market Dynamics: Insights into key trends and market expansion challenges within the embedded finance market; addressing challenges posed by the technical requirements to enable embedded financial products, ongoing consumer fears regarding security, the potential benefits of increasing regulatory involvement, and analysing the many embedded banking use cases. These use cases are assessed across each embedded finance segment, including embedded payments, embedded banking, embedded lending, embedded investments, and embedded insurance. The embedded finance strategy & trends research also includes a regional market growth analysis on the current development and segment growth of the embedded finance market size, including the Juniper Research Country Readiness Index assessing the market readiness and growth across all 60 countries featured in our forecast, as well as providing a future outlook.
Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and key findings within the embedded finance market, accompanied by key strategic recommendations for stakeholders.
Benchmark Industry Forecasts: The business overview into financial service providers includes forecasts for total revenue for embedded finance, derived from forecasts for embedded payments, embedded banking, embedded lending, embedded investments, and embedded insurance. These individual embedded finance segments feature a plethora of different forecasts relating to each segment as well.
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 19 embedded finance vendors via the Juniper Research Competitor Leaderboard, featuring market size for key players in the embedded finance industry.

Market Data & Forecasting Report

The market-leading research suite for the Embedded Finance market includes access to the full set of forecast data of 154 tables and over 70,200 datapoints. Metrics in the research suite include:

Total Embedded Finance Platform Revenue
Total Number of Users
Total Volume of Transactions
Total Value of Transactions

These metrics are provided for the following key market verticals:

Embedded Payments

Embedded Banking

Embedded Lending

Embedded Insurance

Embedded Investments

Juniper Research Interactive Forecast Excel contains the following functionality:

Statistics Analysis: Users benefit from the ability to search for specific metrics, displayed for all regions and countries across the data period. Graphs are easily modified and can be exported to the clipboard.
Country Data Tool: This tool lets users look at metrics for all regions and countries in the forecast period. Users can refine the metrics displayed via a search bar.
Country Comparison Tool: Users can select countries and compare each of them for specific countries. The ability to export graphs is included in this tool.
What-if Analysis: Here, users can compare forecast metrics against their own assumptions, via 5 interactive scenarios

Market Trends & Strategies Report

This report examines the embedded finance market landscape in detail; assessing market trends and factors shaping the evolution of this rapidly growing market. The report delivers comprehensive analysis of the strategic opportunities for embedded finance providers; addressing key verticals and developing challenges, and how stakeholders should navigate these. It also includes evaluation of key country-level opportunities for embedded finance growth.

Competitor Leaderboard Report

The Competitor Leaderboard report provides a detailed evaluation and market positioning for 19 leading vendors in the embedded finance space. The vendors are positioned as established leaders, leading challengers or disruptors and challengers based on capacity and capability assessments:

Balance
Bankable
Cross River
Finix
Flywire
Jaris
Jifiti
Marqeta
OpenPayd
Plaid

Q2
Railsr
SoFi
Stripe
Synapse
Tink
TreviPay
Vodeno
Weavr

This document is centred around the Juniper Research Competitor Leaderboard; a vendor positioning tool that provides an at a-glance view of the competitive dynamic landscape in a market, backed by a robust methodology.

Market Trends & Strategies

1. Key Takeaways & Strategic Recommendations

1.1. Key Takeaways
1.2. Strategic Recommendations

2. Market Landscape

2.1. Introduction
- 2.1.1. Definitions & Scope
  - Figure 2.1: Embedded Finance versus BaaS
- 2.1.2. Embedded Finance Segment Definitions
  - i. Embedded Payments
  - ii. Embedded Banking
  - iii. Embedded Lending
  - iv. Embedded Investment
  - v. Embedded Insurance
2.2. Market Landscape
- 2.2.1. Open Banking & Embedded Finance
  - Figure 2.2: How Open Banking Works
  - Figure 2.3: Number of Open Banking Users Globally, 2022-2027
  - Figure 2.4: Proportion of Use Cases for APIs Globally (2023)
- 2.2.2. Key Trends
- 2.2.3. Benefits
  - i. Embedded Solutions Open New Revenue Streams
  - ii. Customer Acquisition & Management Are Streamlined
  - iii. User Experiences Improve Due to the Multitude of Offerings
- 2.2.4. Challenges

3. Segment Analysis

3.1. Introduction
- Figure 3.1: Maturity & Market Potential of Embedded Finance Segments
3.2. Embedded Payments
- i. Use Cases
- ii. Current Market
3.3. Embedded Banking
- i. Use Cases
- ii. Current Market
3.4. Embedded Lending
- i. Use Cases
- ii. Current Market
  - Figure 3.2: Total Value of Digital BNPL Transactions ($m) Split by Key Regions, 2023
  - Figure 3.3: Total Volume of Digital BNPL and Flexible Credit Transactions (m) Split by Key Regions, 2023-2028
  - Figure 3.4: Total B2B BNPL Transaction Value ($m) Split by Key Regions, 2023-2028
3.5. Embedded Investment
- i. Use Cases
- ii. Current Market
3.6. Embedded Insurance
- i. Use Cases
- ii. Current Market

4. Country Readiness Index & Regional Analysis

4.1. Introduction
4.2. Embedded Finance Country Readiness Index
- Figure 4.1: Juniper Research's 8 Key Regions' Definition
- Table 4.2: Juniper Research Embedded Finance Country Readiness Index: Scoring Criteria
- Figure 4.3: Juniper Research Country Readiness Index - Embedded Finance
- Figure 4.4: Juniper Research's Competitive Web: Embedded Finance Regional Opportunities
4.3. Regional Analysis
- 4.3.1. North America
  - Figure 4.5: Total Embedded Finance Platform Revenue ($m) Split by Countries in North America, 2023-2028
- 4.3.2. Latin America
  - Figure 4.6: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Latin America, 2024
- 4.3.3. West Europe
  - Figure 4.7: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in West Europe, 2024
- 4.3.4. Central & East Europe
  - Figure 4.8: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Central & East Europe, 2024
- 4.3.5. Far East & China
  - Figure 4.9: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Far East & China, 2023-2028
- 4.3.6. Indian Subcontinent
  - Figure 4.10: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Indian Subcontinent, 2023-2028
- 4.3.7. Rest of Asia Pacific
  - Figure 4.11: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Rest of Asia Pacific, 2024
- 4.3.8. Africa & Middle East
  - Figure 4.12: Total Embedded Finance Platform Revenue ($m), Split by Select Countries in Africa & Middle East, 2024
- Country Readiness Index Heatmaps
  - i. North America
    - Table 4.13: Juniper Research's Embedded Finance Country Readiness Index: North America
  - ii. Latin America
    - Table 4.14: Juniper Research's Embedded Finance Country Readiness Index: Latin America
  - iii. West Europe
    - Table 4.15: Juniper Research's Embedded Finance Country Readiness Index: West Europe
  - iv. Central & East Europe
    - Table 4.16: Juniper Research's Embedded Finance Country Readiness Index: Central & East Europe
  - v. Far East & China
    - Table 4.17: Juniper Research's Embedded Finance Country Readiness Index: Far East & China
  - vi. Indian Subcontinent
    - Table 4.18: Juniper Research's Embedded Finance Country Readiness Index: Indian Subcontinent
  - vii. Rest of Asia Pacific
    - Table 4.19: Juniper Research's Embedded Finance Country Readiness Index: Rest of Asia Pacific
  - viii. Africa & Middle East
    - Table 4.20: Juniper Research's Embedded Finance Country Readiness Index: Africa & Middle East

Competitor Leaderboard

1. Juniper Research Competitor Leaderboard

1.1. Why Read This Report?
- Table 1.1: Juniper Research Competitor Leaderboard: Embedded Finance Vendors
- Figure 1.2: Juniper Research Competitor Leaderboard: Embedded Finance
- Table 1.3: Juniper Research Competitor Leaderboard: Embedded Finance Vendors & Positioning
- Table 1.4: Juniper Research Embedded Finance Competitor Leaderboard Heatmap

2. Company Profiles

2.1. Vendor Profiles
- 2.1.1. Balance
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.2. Bankable
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View Key Strengths & Strategic Development Opportunities
- 2.1.3. Cross River
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.4. Finix
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.5. Flywire
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View Key Strengths & Strategic Development Opportunities
- 2.1.6. Jaris
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.7. Jifiti
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.8. Marqeta
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.9. OpenPayd
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.10. Plaid
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.11. Q2
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View Key Strengths & Strategic Development Opportunities
- 2.1.12. Railsr
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.13. SoFi
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.14. Stripe
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.15. Synapse
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View Key Strengths & Strategic Development Opportunities
- 2.1.16. Tink
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.17. TreviPay
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.18. Vodeno
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
- 2.1.19. Weavr
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
2.2. Juniper Research Leaderboard Assessment Methodology
- 2.2.1. Limitations & Interpretations
  - Table 2.1: Juniper Research Competitor Leaderboard Scoring Criteria - Embedded Finance

Data & Forecasting

1. Introduction

1.1. Introduction
1.2. Methodology & Assumptions
- Figure 1.1: Embedded Payments Forecast Methodology
- Figure 1.2: Embedded Lending Forecast Methodology
- Figure 1.3: Embedded Banking Forecast Methodology
- Figure 1.4: Embedded Insurance Forecast Methodology
- Figure 1.5: Embedded Investment Forecast Methodology

2. Market overview

2.1. Forecast Summary
- 2.1.1. Embedded Finance Revenue
  - Figure & Table 2.1: Total Embedded Finance Revenue ($m), Split by 8 Key Regions, 2023-2028
  - Table 2.2: Embedded Finance Revenue, Split by Channel ($m), 2023-2028
- 2.1.2. Embedded Finance Consumer Revenue
  - Figure & Table 2.3: Total Consumer Embedded Finance Revenue ($m), Split by 8 Key Regions, 2023-2028
- 2.1.3. Embedded Finance Business Revenue
  - Figure & Table 2.4: Total Business Embedded Finance Revenue ($m), Split by 8 Key Regions, 2023-2028

3. Embedded Payments: Market Forecasts

3.1.1. Total One-click Checkout Button Transaction Volume
- Figure & Table 3.1: Total Volume of One-click Checkout Button Transactions (m), Split by 8 Key Regions, 2023-2028
3.1.2. Total One-click Checkout Button Transaction Value
- Figure & Table 3.2: Total Value of One-click Checkout Button Transactions ($m), Split by 8 Key Regions, 2023-2028
3.1.3. Number of Open Banking Payment Users
- Figure & Table 3.3: Total Number of Open Banking Payment Users (m), Split by 8 Key Regions, 2023-2028
3.1.4. Embedded Payments Transaction Value
- Figure & Table 3.4: Total Embedded Payments Transaction Value ($m), Split by 8 Key Regions, 2023-2028
3.1.5. Embedded Payments Platform Revenue
- Figure & Table 3.5: Total Embedded Payments Platform Revenue ($m), Split by 8 Key Regions, 2023-2028
3.1.6. Total Volume of B2B Embedded Payments
- Figure & Table 3.6: Total Volume of B2B Embedded Payments (m), Split by 8 Key Regions, 2023-2028
3.1.7. Total Value of B2B Embedded Payments
- Figure & Table 3.7: Total Value of B2B Embedded Payments ($m), Split by 8 Key Regions, 2023-2028
3.1.8. Total B2B Embedded Payments Platform Revenue
- Figure & Table 3.8: Total B2B Embedded Payments Platform Revenue ($m), Split by 8 Key Regions, 2023-2028

4. Embedded Banking: Market Forecasts

4.1. Total Embedded Banking Platform Revenue
- Figure & Table 4.1: Total Embedded Banking Platform Revenue ($m), Split by 8 Key Regions, 2023-2028
4.2. Digital Banking Users Services by BaaS Platforms
- Figure & Table 4.2: Total Number of Digital Banking Users Serviced by BaaS platforms (m), Split by 8 Key Regions, 2023-2028
4.3. Consumer BaaS Platform Revenue
- Figure & Table 4.3: Total BaaS Platform Revenue ($m) Split by 8 Key Regions, 2023-2028
4.4. Business Account Transactions Using BaaS
- Figure & Table 4.4: Business Account Transactions Using BaaS (m) Split by 8 Key Regions, 2023-2028
4.5. B2B Business Account Transaction Value Using BaaS
- Figure & Table 4.5: B2B Business Account Transaction Value Using BaaS ($m), Split by 8 Key Regions, 2023-2028
4.6. B2B BaaS Platform Revenue
- Figure & Table 4.6: B2B BaaS Platform Revenue ($m), Split by 8 Key Regions, 2023-2028

5. Embedded Lending: Market Forecasts

5.1. Embedded Lending Transaction Value
- Figure & Table 5.1: Total Value of Embedded Lending Services ($m), Split by 8 Key Regions, 2023-2028
5.2. Embedded Lending Platform Revenue
- Figure & Table 5.2: Total Embedded Lending Platform Revenue ($m), Split by 8 Key Regions, 2023-2028
5.3. Total B2C Embedded Lending Transactions
- Figure & Table 5.3: Total B2C Embedded Lending Transactions (m), Split by 8 Key Regions, 2023-2028
5.4. B2B Embedded Lending Transaction Volume
- Figure & Table 5.4: Total Volume of B2B Embedded Lending Transactions (m), Split by 8 Key Regions, 2023-2028
5.5. B2B Embedded Lending Transaction Value
- Figure & Table 5.5: Total B2B Embedded Lending Transaction Value ($m), Split by 8 Key Regions, 2023-2028
5.6. B2B Embedded Lending Platform Revenue
- Figure & Table 5.6: Total B2B Embedded Finance Platform Revenue ($m), Split by 8 Key Regions, 2023-2028

6. Embedded Insurance: Market Forecasts

6.1. Total Embedded Insurance Platform Revenue
- Figure & Table 6.1: Total Embedded Insurance Services Revenue ($m), Split by Key 8 Regions, 2023-2028
6.2. Total Embedded Insurance Take-up
- Figure & Table 6.2: Total Embedded Insurance Take-up (m), Split by 8 Key Regions, 2023-2028
6.3. B2C Embedded Insurance Premiums
- Figure & Table 6.3: B2C Embedded Insurance Platform Revenue ($m), Split by 8 Key Regions, 2023-2028
6.4. B2B Embedded Insurance Policies
- Figure & Table 6.4: Total B2B Embedded Insurance Policies (m), Split by 8 Key Regions, 2023-2028
6.5. B2B Embedded Insurance Platform Revenue
- Figure & Table 6.5: Total B2B Embedded Finance Platform Revenue ($m), Split by 8 Key Regions, 2023-2028

7. Embedded Investments: Market Forecasts

7.1. Embedded Investment Users
- Figure & Table 7.1: Total Number of Embedded Investment Users (m), Split by 8 Key Regions, 2023-2028
- 7.1.1. Embedded Investment Assets
  - Figure & Table 7.2: Total Embedded Insurance Assets Under Management from Digital Banking ($m) Split by 8 Key Regions, 2023-2028
- 7.1.2. Digital Banking Users Using Automated Roundups
  - Figure & Table 7.3: Total Digital Banking Users Using Automated Roundups (m), Split by 8 Key Regions, 2023-2028
- 7.1.3. Embedded Investment Platform Revenue
  - Figure & Table 7.4: Total Embedded Investment Platform Revenue ($m), Split by 8 Key Regions, 2023-2028