The embedded finance market is set to rocket.
Embedded finance experiences, in which Railsr leads, make up a key part of the embedded finance market.
By 2032 it is forecast to reach a net global value of US$248.4 billion, up from US$43bn in 2021.
Railsr was one of a number of companies operating in the market which is said to benefit from the growth.
The forecast was published by the Future Market Insights which explained: “Incorporating banking software directly into the online websites of retailers or any company has surfaced in the form of embedded financial services in the global market. Many online retailing websites of various products and services or e-commerce platforms are incorporating this solution for the convenience of their customers.”
The report points out that application technological development, or API solutions, have replaced the previously deployed online purchases that were time consuming and required a higher amount of investment.
It goes on to say that the easiness of doing business through embedded banking systems has resulted in greater customer retention and higher profit-making. Embedded finance as an attractive option in the global market.
“The volume of online money transactions has increased exponentially in the past years. Many enterprises are deploying online stores and e-commerce websites for vending their products and services over online channels. This shift in business model has necessitated the use of embedded services, making it an attractive market for many embedded finance fintech companies.”
The report noted that amongst the different types of services provided by the global embedded finance market, the embedded banking services sector is poised to be the highest growing segment, with an estimated CAGR of 16.2% during the forecast timeframe.
To find out more about Railsr and its world leading embedded finance experiences platform, take a look https://www.railsr.com/start-your-experience.