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Embedded finance: An evaluation of current and future use cases
Journal of Digital Banking,
9
(4),
294-316
(2025)
Abstract
Embedded finance is revolutionising the way financial services are delivered, enabling the seamless integration of financial products into everyday, nonfinancial contexts. As regulatory frameworks evolve, and advancements in technologies like application programming interfaces (APIs) and artificial intelligence accelerate, embedded finance is becoming an indispensable pillar of modern financial ecosystems. This paper analyses the factors driving the rapid expansion of embedded finance and highlights its growing significance in today’s digital economy. By focusing on the success criteria that are crucial for the effective implementation and long-term sustainability of these solutions, the research provides a comprehensive guide for financial institutions and partners alike. Through an empirical analysis of various use cases, the study uncovers the most promising applications and identifies the main factors that are driving the success of embedded finance initiatives. As this innovative approach continues to gain momentum, it opens up vast opportunities for growth and innovation, offering the potential to reshape how financial services are integrated into both consumer and business ecosystems, driving efficiency and enhancing the user experience.
Keywords: embedded finance open finance; customer experience; customer journey; open banking
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Author's Biography
Silke Finken is a professor of innovation and a keynote speaker on a wide variety of topics on innovation and strategy, including innovation and failure culture, emerging and future trends like artificial intelligence (AI), business model innovation and future-proofing corporate strategies. Previously, she set up and headed the innovation and consulting management for the Transaction Banking at DZ BANK and was a project leader in Bain & Company’s Financial Service Practice. She recently authored a book on embedded finance and often speaks and publishes on fostering innovation, especially in financial services.
Joris Hensen is responsible for the client facing business of the Deutsche Bank API Program, which he co-founded in 2015. With more than 60 partnerships and a company-wide coverage of data-based products, Deutsche Bank is now one of the world’s leading open banking players. The Developer Portal of Deutsche Bank gives partners quick and easy access to more than 40 API products, enabling them to connect personalised apps and services and thus open up new areas of value creation. Joris’ work includes brand and partnership development in the area of open banking as well as the expansion of internal processes and structures to accelerate the bank’s digital transformation. In his more than ten years at Deutsche Bank, Joris has worked as a project manager on various international projects. He became enthusiastic about innovations and trends early on and set up a corporate foresight programme, in which he developed future scenarios and innovation strategies for Deutsche Bank. He now regularly writes and publishes on foresight, innovation and APIs.
