The term embedded finance has been creeping into the financial services lexicon. In 2021, everyone in banking is talking about it.
It’s the acceleration of non-traditional financial businesses providing financial products via their platforms. And it’s both an opportunity and a threat to traditional financial services firms.
How your bank views it depends on how ready your data strategy is for digital-first business. How fast you can bring together fragmented data repositories and eliminate silos. And whether your team has the digital foundation to speed blockchain and artificial intelligence/machine learning (AI/ML) technologies from pilot to production.
The right data strategy, complemented by emerging tech transforms financial operations. It allows you to use client data to unlock new revenue opportunities and business data to drive automation and efficiency.
Read more about how to graduate new technologies from experimental, limited-scope phases to permanent, line-of-business programs in your financial services organization. Then, subscribe to the VMware “Don’t Break the Bank: Run It, Change It” podcast to explore and resolve what’s keeping financial services CIOs and their teams awake at night.