Embedded Finance
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Оглавление
Scarlett Sieber. Embedded Finance
Table of Contents
List of Illustrations
Guide
Pages
Additional Praise for Embedded Finance
EMBEDDED FINANCE
CHAPTER ONE THE NEXT FINANCIAL REVOLUTION
WHY NOW?
WHY US?
WHY YOU?
WHAT YOU NEED TO KNOW
NOTES
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
Lending Club
Early Approach
THE ENTRANCE OF THE NEOBANKS
Simple
Early Approach
SIMPLE
Moven
Early Approach
MOVEN
BEHAVIORAL SHIFTS ACROSS GENERATIONS
Case Study: Tinkoff
LOOKING ACROSS BORDERS: THE CASE OF CHINA
EMBEDDED FINANCE IS HERE
Summary
NOTES
CHAPTER THREE BIG TECH AND BEYOND
A MATCH MADE IN HEAVEN
MEETING EVERY FINANCIAL NEED
Digital Wallets
Savings Accounts
International Cross-Border Payments
Lending and Buy Now, Pay Later
BIG TECH IS PART OF CUSTOMERS’ EVERYDAY LIVES
BEYOND GOOGLE, APPLE, FACEBOOK, AND AMAZON
Uber
Grab
Case Study: Shopify
BENEFITTING THE END CUSTOMER
THE CASE FOR E-COMMERCE
WHY EMBEDDED FINANCE MAKES SENSE FOR BIG TECH
Summary
NOTES
CHAPTER FOUR EMBEDDED FINANCE IN THE OFFLINE WORLD
A LOOK INTO THE FUTURE: THE SUPER APPS
THE DATA PLAY
OFFLINE TO ONLINE
The Ancestor of Embedded Finance Offline: Cards
Invisible Payments
In-Store Shopping: A Fully Checkout-Free Experience
Buy Now, Pay Later
Klarna
Early Approach
BNPL in Practice
Affirm
Early Approach
Case Study: Katapult
The Internet of Things
The Connected Car: Tesla and Beyond
Tesla
Early Approach
Connecting Cars and Payments
The Internet of Things at Home
Insurance
Embedded Insurance in Practice
Qover
Early Approach
Ornikar
Early Approach
Ping An
Early Approach
Case Study: Ping An
THE IMPACT OUTSIDE FINANCIAL SERVICES
Healthcare
Case Study: Peachy Pay
Media
Telecom
WHERE DO WE GO FROM HERE?
Summary
NOTES
CHAPTER FIVE THE RIGHT INGREDIENTS ARE NOW IN PLACE
THE TECHNOLOGY: KEY PIECES ENABLING BRANDS
Artificial Intelligence
Mobile Computing and Digital Onboarding
APIs
Open Banking
Banking-as-a-Service
THE ROLE OF THE REGULATORS
Regulation: Europe
Regulation: US
Regulation: Asia
BaaS: THROUGH THE LENS OF A BANK
BaaS: US Banks’ Early Success
Case Study: Goldman Sachs
BaaS Is Not Just for the Big Banks
BaaS: European Banks’ Early Success
Case Study: BBVA
ClearBank
Solarisbank
Case Study: Banking Circle
BaaS: Asia and Beyond's Banks’ Early Success
THE FUTURE FOR BANKS
BaaS: Through the Lens of Fintech
Case Study: Railsbank
BaaS in Practice
Stripe
Early Approach
Case Study: Stripe
Checkout
Early Approach
Case Study: Marqeta
THE REAL IMPACT OF EMBEDDED FINANCE
Summary
NOTES
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
Uber and Grab
UPSKILLING TODAY'S WORKFORCE
SUSTAINABILITY
THE LIMITS OF EMBEDDED FINANCE
THE QUESTION OF IDENTITY AND PRIVACY
Identification versus Authentication
THE NEW WORLD
Summary
NOTES
CHAPTER SEVEN 2030: HOW EMBEDDED FINANCE TAKES OVER THE WORLD
A DAY IN THE LIFE, 2030 EDITION. Mia
Mike
WHAT ELSE CAN WE EXPECT FROM LIFE IN 2030?
Data
Insurance
Health
Marketing and Advertising
Sustainability and Inequality
The Convergence of Online and Offline
The Wallet of the Future
The Interplay of AI and Human Decisions
The Future of the Web
THE VIRTUAL WORLD OF THE FUTURE
The Metaverse in Practice
AN EMBEDDED REVOLUTION
NOTES
ACKNOWLEDGMENTS
ABOUT THE AUTHORS
Index
WILEY END USER LICENSE AGREEMENT
Отрывок из книги
“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
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Banks foreclosing on the homes of buyers who were encouraged to take out a loan they couldn't afford reinforced this perception. Fintech companies capitalized on this in the early days, emphasizing that banks make money when customers suffer, when they can't pay off their credit card balance every month, or when they overdraft their account. Customers wondered with some justification if their bank was even on their side. This misalignment of interest between banks and their customers led to further alienation and made consumers more likely to seek out nonbank solutions.
This misalignment is not just theory. In 2020, US banks in aggregate collected about $8.8 billion in overdraft fees. This is an unusually low figure from a very unusual year (Figure 2.1). The previous year, banks collected over $12 billion. JP Morgan Chase and Bank of America collect the most in absolute dollars, but overdraft contributes a smaller percentage of their bottom line than regional and midsize institutions.
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