apidays LIVE Singapore 2021 - Embedding finance into the customer journey by Justin Xiao, Railsbank
1 like173 views
The document discusses the concept of embedded finance and its potential to transform consumer experiences by integrating financial services into various business models. It emphasizes that with simple APIs, any business can become a fintech, enabling services like card issuance, payments, and savings. Notable use cases include collaborations in insurtech and earned wage access, showcasing the democratization of financial services facilitated by technology.
apidays LIVE Singapore 2021 - Embedding finance into the customer journey by Justin Xiao, Railsbank
- 1. Internal / External: Public Version: 20201014-1043 Anyone can “Fintech” Embedded Finance in the Consumer Journey Justin Xiao COO Railsbank SE Asia & Australia
- 2. Internal / External: Public Version: 20201014-1043 2 | RAILSBANK CONFIDENTIAL COPYRIGHT 2020 RAILSBANK TECHNOLOGY LIMITED Embedded Finance Consumer Experience Prototype, Launch, Scale
- 3. Internal / External: Public Version: 20201014-1043 Open banking is only really about two core services. - Account data - Payment initiation Embedded finance is about so much more. Open Banking + - Issuing cards - Issuing accounts - Currency conversion - Collecting money - And so much more as a tool for business model transformation.
- 4. Internal / External: Public Version: 20201014-1043 Anyone can be a merchant - Amazon, eBay Anyone can be a taxi driver - Uber, GoJek, Grab Anyone can be a journalist - Twitter Anyone can be an investor - Robinhood Anyone can create movies - YouTube, Vimeo Anyone can be a hotel owner - AirBnB Anyone can run a data centre - AWS Anyone can be a telco - Twilio Technology has totally democratised many industries.
- 5. Internal / External: Public Version: 20201014-1043 Anyone can be a fintech. We believe that: “Embed finance with 5 lines of code” Think of empowering any business to embed financial services directly into your own customer experience and customer journeys. e.g. supermarket, property agents, food delivery, airport, employee benefits and many more.
- 6. Internal / External: Public Version: 20201014-1043 APIs are the building blocks that bring to life any financial use-case that you want to embed in your customer experience. Neo Bank Salary advancing Micro savings Farming COOP Gig worker payroll Wealth manager Rewards scheme Brand engagement Micro lending
- 7. Internal / External: Public Version: 20201014-1043 We free You focus on your product your UX and your consumer journey.
- 8. Internal / External: Public Version: 20201014-1043 Onboard Manage Card Spend Earn Pay Optimize Get Help Apply and use instantly Spend confidently, manage effortlessly and earn more Manage Settings Best in class support Consumer Journey
- 9. Internal / External: Public Version: 20201014-1043 SingLife ● InsurTech Use Case ● Digital-only Insurer ● Live in Singapore and partnering to expand across Asia Wagestream ● Earned Wages Access Use Case ● Salary disbursements for corporates like Holiday Inn, Novotel, Bupa ● Live in UK and partnering to expand into Asia
- 10. Internal / External: Public Version: 20201014-1043 10 | RAILSBANK CONFIDENTIAL COPYRIGHT 2020 RAILSBANK TECHNOLOGY LIMITED MVP in a Box
- 11. Internal / External: Public Version: 20201014-1043 Railsbank supports you as a 24x7 utility that manages and operates the complexity and risk of running financial services.
- 12. Internal / External: Public Version: 20201014-1043 Any Questions.