Embedded Awesome — How Embedded Payments are Changing the Game

From paying for music to morning coffees, embedded transactions power daily life. With Christoffer Malmer we examine where embedded finance can have the biggest strategic impact, how fintechs can build stronger compliance with speed, why banks need to pick up the pace if they want to compete, and how banks and fintech could work with each other.

Key Takeaways.

• [0:00] Denise Johansson puts Christoffer Malmer, Head of SEB Embedded, in the hot seat. 
• [2:02] Earning customer trust has always been a brand thing.
• [4:08] While the embedded finance sector is still being defined, having a broad suite of products lets you customise customer solutions.
• [6:09] Finding the product you need is more about properly defining the problem to solve or the outcome desired.
• [7:13] Embedded finance is in the process of knitting banking into our lives in a more natural way.
• [8:28] Development and distribution are two areas in which fintech can play an exciting role.
• [10:40] Compliance doesn’t have to make you slow, but with some fintech having had multiple failures in that regard, it does mean having discussions with potential partners.
• [13:00] Working in partnership with your compliance department will serve your customers, make you more agile, and enable company-wide alignment.
• [14:22] After having changed music, transportation, and online shopping, the next big revolution may yet be financial services themselves!
• [17:02] For banks, the transition has been slow. They need to rethink what products they are providing and how they deliver them.
• [20:25] The future is staggeringly fast. Becoming more agile, learning as you iterate, and having the guts just to start may be the key to future-proof any large organization.
• [23:50] Christoffer shares his last thoughts on the exciting possibilities embedded finance and BaaS offers.
• [24:22] Denise signs out and teases the next episode: female founders in fintech.

People.

• Guest Christoffer Malmer, Head of SEB Embedded, an in-house startup dedicated to commercialising BaaS.
• Host Denise Johansson, co-CEO and co-Founder of Enfuce, a female-founded fintech helping drive business growth, solve customer challenges and extend financial inclusion.

Links.

• Enfuce
• SEB Embedded
• SEBx
• SEB group

Guest Quotes.

• Brands with strong market positions and strong relationships with their customers have earned the trust to say ‘Hey, I'm offering you financial service now, but I'm not a bank.’ — Christoffer Malmer, SEB Embedded, InTheHotSeat
• I see embedded payments as part of a subset of embedded finance. — Christoffer Malmer, SEB Embedded, InTheHotSeat
• Conversations might start somewhere but end up somewhere else. With a broad suite of financial services products at your disposal, you can really tailor the solution that the customer's looking for. — Christoffer Malmer,