The value of the embedded finance market will jump 215 per cent to exceed $138 billion by 2026 from $43bn this year, according to a new study by market research company Juniper Research.
Embedded finance occurs when financial services are embedded within non-traditional financial services areas, such as banking services within a ride-sharing app, lending services within a buy-now-pay-later platform, or insurance services within an e-commerce checkout process.
The sector's growth will be driven by the increasing availability of application programming interfaces (APIs) from financial services vendors, Juniper Research said in its whitepaper, titled Why the Future of FinTech is Embedded Finance.
“The easy integration of these APIs will lower the barriers to entry for financial services and create a significant new revenue opportunity for providers of embedded finance,” it said.
Juniper Research identified five distinct segments as the main-use cases for embedded finance. These include embedded payments, embedded lending, embedded investments, embedded insurance and embedded banking.
Revenue from buy-now-pay-later services, which embed lending in the e-commerce checkout process, will account for more than 50 per cent of the embedded finance market in 2026, according to the whitepaper.
The BNPL business model, which allows consumers to make online purchases instantly and pay for them later, is booming, with services such as Sweden's Klarna, the US-based Affirm and Australia's Afterpay offering flexible financing to consumers, according to the 2020 Global Payments Report by payment processing company Worldpay Group.
In the UAE, the concept has also taken hold, with the likes of Postpay, Spotii, Cashew and Tabby all jostling for a slice of the region's burgeoning BNPL market. In May, Australia's Zip, a global BNPL platform, bought out Dubai-based Spotii in a $16.25 million deal.
“Embedded lending at point of sale is a massive opportunity for leaders such as Klarna or Afterpay, but it is also an opportunity for banks,” research author Nick Maynard said.
“As open APIs proliferate, we expect banks to take a significant interest in the market, leveraging their existing user relationships and trusted brands to create compelling propositions.”
In Australia, banks are beginning to recognise the importance of collaborating with BNPL platforms, with Afterpay this week rolling out a staff pilot for its new money-management app Money by Afterpay with Westpac, the country's fourth-biggest lender.
The app, which will provide general financial product advice and distribute basic deposit products and debit cards, will be available to customers in Australia from October this year, Afterpay said in a statement on Tuesday.
The home carousel of the Money app will display customers' BNPL balances, upcoming orders and instalments alongside their daily spending account and savings accounts, and will offer an interest rate of 1 per cent per annum.
Meanwhile, the global market for embedded insurance premiums is estimated to more than double to $10bn in 2026, from $3.8bn this year, the research company said in the report.
“Embedded insurance holds promise as a compelling way to boost the uptake of insurance for high-value products with e-commerce users. By bringing insurance directly into the checkout process and pairing it with the individual high-value item, product insurance becomes a compelling proposition,” Juniper Research said in the report.
Interest from big technology companies such as Facebook, Google and Amazon is a major driver for embedded finance development, it added.
By combining their expertise in user experience with third-party capabilities, big tech can add value and significantly broaden their appeal in a constantly evolving market. They can also diversify revenue streams by offering embedded payments.
“[However], if established financial industry players fail to adapt to embedded finance, or fail to improve their own user experiences to combat the threat of embedded finance, then they will begin to lose substantial market share,” Juniper Research said.
UAE currency: the story behind the money in your pockets
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Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
Ronaldo's record at Man Utd
Seasons 2003/04 - 2008/09
Appearances 230
Goals 115
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
COMPANY%20PROFILE
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All%20The%20Light%20We%20Cannot%20See%20
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UAE currency: the story behind the money in your pockets
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
More on animal trafficking
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
RESULTS
Bantamweight
Victor Nunes (BRA) beat Siyovush Gulmamadov (TJK)
(Split decision)
Featherweight
Hussein Salim (IRQ) beat Shakhriyor Juraev (UZB)
(Round 1 submission, armbar)
Catchweight 80kg
Rashed Dawood (UAE) beat Otabek Kadirov (UZB)
(Round-1 submission, rear naked choke)
Lightweight
Ho Taek-oh (KOR) beat Ronald Girones (CUB)
(Round 3 submission, triangle choke)
Lightweight
Arthur Zaynukov (RUS) beat Damien Lapilus (FRA)
(Unanimous points)
Bantamweight
Vinicius de Oliveira (BRA) beat Furkatbek Yokubov (RUS)
(Round 1 TKO)
Featherweight
Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)
(Round 1 rear naked choke)
Flyweight
Shannon Ross (TUR) beat Donovon Freelow (USA)
(Unanimous decision)
Lightweight
Dan Collins (GBR) beat Mohammad Yahya (UAE)
(Round 2 submission D’arce choke)
Catchweight 73kg
Martun Mezhulmyan (ARM) beat Islam Mamedov (RUS)
(Round 3 submission, kneebar)
Bantamweight world title
Xavier Alaoui (MAR) beat Jaures Dea (CAM)
(Unanimous points 48-46, 49-45, 49-45)
Flyweight world title
Manon Fiorot (FRA) v Gabriela Campo (ARG)
(Round 1 RSC)
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Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
COMPANY%20PROFILE
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%3Cp%3EDeveloper%3A%20Pillow%20Castle%20Games%0D%3Cbr%3EPublisher%3A%20Pillow%20Castle%20Games%0D%3Cbr%3EConsole%3A%20PlayStation%204%26amp%3B5%2C%20Xbox%20Series%20One%20%26amp%3B%20X%2FS%2C%20Nintendo%20Switch%2C%20PC%20and%20Mac%0D%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
UAE currency: the story behind the money in your pockets
HEY%20MERCEDES%2C%20WHAT%20CAN%20YOU%20DO%20FOR%20ME%3F
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
