A new survey by the bank Pathward found that 82% of U.S. executives considering embedded finance solutions plan to implement them in the next two years. Embedded finance is the integration of financial services into nonfinancial offerings. Nearly half of executives surveyed reported their companies are currently supporting an embedded finance solution, according to Pathward. Thirty-three percent of respondents plan to offer embedded finance solutions, and 17% are evaluating it.
While most executives embrace embedded finance, they also have concerns about the technology, according to the survey. Security (45%), fraud (42%) and compliance (42%) were the top concerns expressed by respondents. Also, among the companies offering embedded finance solutions, 81% of executives reported that they somewhat or significantly underestimated the complexity of building an embedded finance solution.
