Scarlett Sieber - Embedded Finance

1 COVER

2 ADDITIONAL PRAISE FOR EMBEDDED FINANCE Additional Praise for Embedded Finance “The next phase of insurance is going to see two directions: embedding insurance into real-world services that can be delivered or accessed digitally, and incorporating real world services as features or benefits into insurance products. Integrated digital providers have shown the path by redefining industry boundaries and bringing together value propositions in a powerful way.” —Jonathan Larsen , Chief Innovation Officer, Ping An “Scarlett's and Sophie's combined backgrounds give them a unique perspective into the future of this space. Their strategic thinking, operational excellence and deep understanding of key players and technologies afford them background knowledge that few people have mastered. If you want to master it, too, read their book.” —Jelena McWilliams , Chairman, FDIC “Embedding is not an incremental step forward, it's actually transformative. Eventually it's going to sound goofy to say you're a fintech company when such a large percentage of all technology companies and brands are leveraging embedded financial services. Getting to know about embedded finance is a must for tech and brand executives, and this book is a good place to start.” —Matt Harris , Partner, Bain Capital Ventures

3 TITLE PAGE SCARLETT SIEBER SOPHIE GUIBAUD

4 COPYRIGHT

5 DEDICATION

6 CHAPTER ONE: THE NEXT FINANCIAL REVOLUTION WHY NOW? WHY US? WHY YOU? WHAT YOU NEED TO KNOW NOTES

7 CHAPTER TWO: THE ORIGINS OF EMBEDDED FINANCE HOW WE GOT HERE: BANKING IN REVIEW CATASTROPHE AS THE MOTHER OF INVENTION THE TECHNOLOGY THAT MAKES IT POSSIBLE THE BIRTH OF INSURTECH FINTECH RISING THE ENTRANCE OF THE NEOBANKS SIMPLE MOVEN BEHAVIORAL SHIFTS ACROSS GENERATIONS LOOKING ACROSS BORDERS: THE CASE OF CHINA EMBEDDED FINANCE IS HERE NOTES

8 CHAPTER THREE: BIG TECH AND BEYOND A MATCH MADE IN HEAVEN MEETING EVERY FINANCIAL NEED BIG TECH IS PART OF CUSTOMERS’ EVERYDAY LIVES BEYOND GOOGLE, APPLE, FACEBOOK, AND AMAZON BENEFITTING THE END CUSTOMER THE CASE FOR E-COMMERCE WHY EMBEDDED FINANCE MAKES SENSE FOR BIG TECH NOTES

9 CHAPTER FOUR: EMBEDDED FINANCE IN THE OFFLINE WORLD A LOOK INTO THE FUTURE: THE SUPER APPS THE DATA PLAY OFFLINE TO ONLINE THE IMPACT OUTSIDE FINANCIAL SERVICES WHERE DO WE GO FROM HERE? NOTES

10 CHAPTER FIVE: THE RIGHT INGREDIENTS ARE NOW IN PLACE THE TECHNOLOGY: KEY PIECES ENABLING BRANDS THE ROLE OF THE REGULATORS BaaS: THROUGH THE LENS OF A BANK THE FUTURE FOR BANKS THE REAL IMPACT OF EMBEDDED FINANCE NOTES

11 CHAPTER SIX: A MORE SUSTAINABLE AND EQUAL WORLD DATA AS A FORCE FOR GOOD ACCESS TO CREDIT THE IMPACT ON SMALL BUSINESSES FINANCIAL INCLUSION IN THE GLOBAL SOUTH FINANCIAL PRODUCTS FOR THE UNDERSERVED THE GIG ECONOMY: THE NEW WORKFORCE UPSKILLING TODAY'S WORKFORCE SUSTAINABILITY THE LIMITS OF EMBEDDED FINANCE THE QUESTION OF IDENTITY AND PRIVACY THE NEW WORLD NOTES

12 CHAPTER SEVEN: 2030: HOW EMBEDDED FINANCE TAKES OVER THE WORLD A DAY IN THE LIFE, 2030 EDITION WHAT ELSE CAN WE EXPECT FROM LIFE IN 2030? THE VIRTUAL WORLD OF THE FUTURE AN EMBEDDED REVOLUTION NOTES

13 ACKNOWLEDGMENTS

14 ABOUT THE AUTHORS

15 INDEX

16 END USER LICENSE AGREEMENT

1 Chapter 2 Figure 2.1 Aggregate overdraft/NSF (non-sufficient funds) fee revenues by ye...

2 Chapter 3 Figure 3.1 Distrust of banks is widespread.

3 Chapter 4Figure 4.1 Most consumers would think more positively of a retailer that pro...

4 Chapter 6Figure 6.1 In 10 years, M-Pesa facilitated the creation of more than 30 mill...Figure 6.2 Not able to fully pay current month's bills (by layoff in prior 1...Figure 6.3 The future of the gig economy.Figure 6.4 What do consumers want bond webinar.Figure 6.5 Fintech employs more people than many financial centers.Figure 6.6 Technology is eating finance. Source: CFTE 2021 https://courses.c...

1 Cover Page

2 Additional Praise for Embedded Finance

3 Title Page

4 Copyright

5 Dedication

6 Table of Contents

7 Begin Reading

8 Acknowledgments

9 About the Authors

10 Index

11 Wiley End User License Agreement

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“The next phase of insurance is going to see two directions: embedding insurance into real-world services that can be delivered or accessed digitally, and incorporating real world services as features or benefits into insurance products. Integrated digital providers have shown the path by redefining industry boundaries and bringing together value propositions in a powerful way.”