Thousands of physical bank branches shut down during the pandemic or reduced their hours. At the same time, bank customers discovered the convenience of mobile banking from home or on the go. As a result, the utilization of digital services has become the predominant way in which most Americans interact with their primary financial institutions. A recent study indicated that 78% of Americans prefer mobile to in-person banking. While this trend has presented challenges for traditional FIs, it also presents opportunities. In this report, you’ll learn:

• What banks and FIs can gain by incorporating embedded finance into their business models

• Why FinTechs can be a welcome strategic partner as digital financial services evolve

• How incorporating embedded finance into traditional FI’s business models will benefit both FIs and FinTechs