Purchasing and finance go hand in hand

Financial services are often needed when consumers purchase goods or services. In the case of buying a car, financial services come into play in all sorts of situations, such as taking out a loan from a financial institution and purchasing car insurance before delivery.

Providing financial services as part of the everyday customer journey benefits three parties: dealers can sell cars, customers can drive the car they want, and financial institutions can increase their customer base.

Traditionally, financial services have been embedded on an analog basis, demonstrating the compatibility between purchasing and finance. Now that this trend has been replaced by digital, the embedded finance market has the potential to grow significantly.

The greatest innovation of embedded finance is not just its growth in the financial industry, but also its contribution to increasing sales opportunities for goods and services across all industries and expanding basket size (amount spent at one time).