Embedded Finance Market: 2026-2031

Description

'Embedded Finance Revenue to Reach $617 Billion Globally by 2031, as B2B Revenue Surges 390%'

Overview

Embedded finance is one of the fastest-growing markets in financial services, and is about to accelerate even further. Our Embedded Finance Market research provides detailed analysis of the key drivers behind this growth, and what these mean for stakeholders in this market: banks, payment providers, eCommerce platforms, infrastructure providers, regulators, and technology vendors. Additionally, our research focuses on where growth is happening, which trends are shaping it, and how the competitive landscape is shifting.

Providing multiple options that can be purchased separately, the research suite includes access to data mapping the future growth of the embedded finance market, a detailed study revealing the latest opportunities and trends within the market, and an insightful document containing an extensive analysis of 26 embedded finance providers. The research provides a comprehensive analysis of the expansion of the embedded finance market within its key segments, including payments, banking, lending, investment, and insurance. The coverage can also be purchased as a Full Research Suite; containing all these elements and including a substantial discount.

Collectively, these elements provide an effective tool for understanding this dynamic market; allowing embedded finance vendors to set out their future strategies to provide effective and efficient embedded finance services to their customers and clients. Its unparalleled coverage makes this research suite an incredibly useful resource for gauging the future of this complex market.

All report content is delivered in the English language.

Key Features

Market Dynamics: Insights into key trends and market expansion challenges within the embedded finance market, including the technical requirements needed to enable embedded financial products, ongoing consumer concerns around security, and the potential benefits of increasing regulatory involvement; alongside an analysis of 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.
It also includes the Juniper Research Country Readiness Index (CRI), which assesses market readiness and growth across all 71 countries featured in our forecast and provides an outlook for each. Using the CRI, these countries are categorised as either a Focus Market, Growth Market, Developing Market, or Saturated Market.
Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and findings within the market, accompanied by key strategic recommendations for embedded finance providers on emerging trends and how the market is expected to evolve.
Benchmark Industry Forecasts: The five-year forecasts include the total revenue generated by embedded finance, Business-to-Consumer (B2C) embedded revenue, and Business-to-Business (B2B) embedded revenue. Further detailed forecasts are given for each segment of embedded finance.
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 26 embedded finance providers, via the Juniper Research Competitor Leaderboard.

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 80,388 datapoints. Metrics in the research suite summary 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: Transactions, Volume and Value
- B2C
- B2B
Embedded Banking: Transactions, Volume and Value
- B2C
- B2B
Embedded Lending: Transactions, Volume and Value
- B2C
- B2B
Embedded Insurance: Transactions, Volume and Value
- B2C
- B2B
Embedded Investment: Transactions, Volume and Value
- B2C
- B2B

The Juniper Research Interactive Forecast 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 allows the user to review metrics for all regions and countries in the forecast period. Users can refine the metrics displayed via the search bar.
Country Comparison Tool: Users can select and compare 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 five interactive scenarios.

Market Trends & Strategies Report

The report examines the embedded finance market landscape in detail; assessing different market trends and factors that are shaping this growing market, such as technology advancement, digital platforms, application programming interfaces (APIs), Banking-as-a-Service (BaaS) infrastructure, regulatory changes and shifts in consumer behaviour.

Competitor Leaderboard Report

The Competitor Leaderboard report provides a detailed evaluation and market positioning for 26 embedded finance vendors. These vendors are positioned either as an Established Leader, Leading Challenger, or Disruptor & Challenger; based on capacity and capability assessments, the embedded finance they offer, and any additional technologies which set them apart from their competitors.

The 26 vendors comprise:

Adyen
Balance
ClearBank
Cross River
Equals
Flywire
Jaris
Jifiti
KASKO
Klarna
Marqeta
NMI
OpenPayd
Parafin
Plaid
Q2
SoFi
Solaris
Stripe
Swan
Tink
Tint
Treasury Prime
TreviPay
Unit
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 landscape, backed by robust methodology.

Embedded Finance FAQs

What does the Embedded Finance research cover?
- The Embedded Finance research provides an in-depth analysis of the rapidly evolving embedded finance market, focusing on key trends, challenges, and opportunities. The research covers several segments, including embedded payments, embedded banking, embedded lending, embedded investments, and embedded insurance. It also features detailed insights into the market growth, competitive landscape, and forecasts for the future of embedded finance.
Who should use Juniper Research’s Embedded Finance reports?
- This research is designed for stakeholders across banking services, technology vendors, infrastructure providers, payment services, regulators, insurers, and eCommerce platforms. It is ideal for organisations looking to understand the dynamics of embedded finance, strategise for market growth, or identify key competitors and partnership opportunities within the embedded finance space.
Can I purchase Embedded Finance reports directly online?
- Yes, you can purchase the Embedded Finance research online. The report is available as a full research suite, which includes all market segments, or you can opt to purchase individual reports focused on specific aspects such as embedded payments, embedded banking, or embedded insurance. Discounts are available for the full suite.
What types of data are included in the Embedded Finance research?
- The research includes detailed market dynamics, segment forecasts, and data on market leaders in embedded finance. It covers transaction values, regional growth trends, and a deep dive into each embedded finance segment. The data also includes the Juniper Research Country Readiness Index, which assesses the market growth and readiness across 60 countries.
What other services does Juniper Research offer alongside Embedded Finance reports?
- Juniper Research offers additional services such as access to their online data platform, harvest, which provides real-time market data and forecasts. This platform allows users to manipulate data, analyse different scenarios, and track ongoing market developments. Juniper also provides strategic recommendations and consulting services for stakeholders seeking tailored insights.
Why should I choose Juniper Research for insights on Embedded Finance?
- Juniper Research is a trusted leader in market analysis, offering comprehensive and forward-looking insights into the embedded finance industry. Their reports provide unmatched coverage of emerging trends, opportunities, and challenges, supported by detailed forecasts and a deep dive into key market players, helping businesses shape their strategies for the future.
How can I contact Juniper Research for support regarding Embedded Finance reports?
- For more information or assistance with the Embedded Finance Research Report, please contact Juniper Research directly via the website contact form or email us. Our team is available to assist you with any inquiries or provide additional support.

1. Market Trends & Strategies Table of Contents

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
- 2.2.2 PSD2 vs PSD3/PSR
- 2.2.3 Key Trends
  - i. Multi-rail Payments Are Becoming More Prevalent
  - ii. Traditional Banks Are Beginning to Enter the Ecosystem
  - iii. Emerging Technologies Are Starting to Overlap
- 2.2.4 Benefits
  - i. Embedded Solutions Open New Revenue Streams
  - ii. Customer Acquisition & Management Are Streamlined
  - iii. User Experiences Improve Due to the Multitude of Offerings
- 2.2.5 Challenges
  - i. Trust from Consumers & Traditional Banks
  - ii. Difficulties Integrating Solutions
  - iii. Fraud
  - iv. Market Preferences & Fractured Offerings

3. Segment Analysis

3.1 Introduction
- Figure 3.1: Maturity & Market Potential of Embedded Finance Segments
3.2 Embedded Payments
3.3 Embedded Banking
3.4 Embedded Lending
3.5 Embedded Investment
3.6 Embedded Insurance

4. Country Readiness Index & Regional Analysis

4.1 Embedded Finance Country Readiness Index
- Figure 4.1: Juniper Research Country Readiness Index Regional Definitions
- Table 4.2: Juniper Research Country Readiness Index Scoring Criteria: Embedded Finance
- Figure 4.3: Juniper Research Country Readiness Index: Embedded Finance
- Table 4.4: Juniper Research Embedded Finance Market Country Readiness Index: Market Segments
4.2 Embedded Finance Market: Country Readiness Index
- 4.2.2 Growth Markets
  - ii. Country-level Assessment: Czech Republic
  - Figure 4.7: Total Embedded Finance Revenue ($m) of Central & East Europe Countries,
  - Figure 4.8: Total Embedded Finance Revenue ($m) of Czech Republic, 2026-2031
- 4.1.2 Saturated Markets
  - i. Country-level Assessment: US
  - Figure 4.9: Total Embedded Finance Revenue ($m) Split by 8 Key Regions, 2026-2031
- 4.2.4 Developing Markets
  - ii. Country-level Assessment: Nigeria
  - Figure 4.10: Total Banked Population (%) of Nigeria,
  - Table 4.11: Juniper Research Country Readiness Index: North America
  - Table 4.12: Juniper Research Country Readiness Index: Latin America
  - Table 4.13: Juniper Research Country Readiness Index: West Europe
  - Table 4.14: Juniper Research Country Readiness Index: Central & East Europe ..
  - Table 4.15: Juniper Research Country Readiness Index: Far East & China
  - Table 4.16: Juniper Research Country Readiness Index: Indian Subcontinent
  - Table 4.17: Juniper Research Country Readiness Index: Rest of Asia Pacific
  - Table 4.18: Juniper Research Country Readiness Index: Africa & Middle East

2. Competitor Leaderboard Table of Contents

1. Juniper Research Competitor Leaderboard

1.1 Why Read This Report?
- Table 1.1: Juniper Research Competitor Leaderboard: Embedded Finance Vendors
- Table 1.2: Juniper Research Competitor Leaderboard: Embedded Finance Vendors – Part Two
- Figure 1.3: Juniper Research Competitor Leaderboard: Embedded Finance
- Table 1.4: Juniper Research Competitor Leaderboard: Embedded Finance Vendors & Positioning
- Table 1.5: Juniper Research Embedded Finance Competitor Leaderboard Heatmap (1 of 2)
- Table 1.6: Juniper Research Embedded Finance Competitor Leaderboard Heatmap (2 of 2)

2. Company Profiles

2.1 Vendor Profiles
- 2.1.1 Adyen
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of offerings
  - v. Juniper Research’s View: Key Strengths and Strategic Development Opportunities
- 2.1.2 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
- 2.1.3 ClearBank
  - 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 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
- 2.1.5 Equals
  - 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 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
- 2.1.7 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
- 2.1.8 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
- 2.1.9 Kasko
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-Level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.10 Klarna
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-Level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.11 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
- 2.1.12 NMI
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.13 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
- 2.1.14 Parafin
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.15 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
- 2.1.16 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
- 2.1.17 SoFi
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.18 Solaris
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.19 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
- 2.1.20 Swan
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.21 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
- 2.1.22 Tint
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.23 Treasury Prime
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.24 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
- 2.1.25 Unit
  - i. Corporate
  - ii. Geographic Spread
  - iii. Key Clients and Strategic Partnerships
  - iv. High-level View of Offerings
  - v. Juniper Research’s View: Key Strengthens and Strategic Development Opportunities
- 2.1.26 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
2.3 Related Research