Is Embedded Finance the New Trend for All Your Financial Needs? Check Out How Companies like Wallester are Revamping the Traditional Banking Scenario

  • Updated

With the advent of technology, digital transactions have taken an edge over the traditional form of the banking system. Consumers have resorted to financial services that provide a seamless experience in payment processing, insurance, and lending. "Embedded Finance" has opened many doors for companies to provide financial tools or services embedded within their programs and applications. It enables the integration of a financial service into a non-financial app or website. Embedded Finance is the new business model that even Amazon and Google are eyeing for their chunk of market share in consumer financial services. The question is, Is Embedded Finance the future of our financial solutions?

As more and more companies enter the fintech segment, embedded finance will gradually see a rise in its usage. One of the companies that is leading the way is Wallester, by creating meaningful, impactful, and lasting digital brands through Embedded Finance. It offers a payment service provider that specializes in white label card issuance, processing, and payment transaction solutions. It is one of the early organizations that has adopted Embedded Finance approach and technology and aims to retain customers and increase their lifetime value.

Wallester is a fintech effort that aims to make transactions simple, safe, and speedy. Card issue and processing, white label solutions, BIN sponsorship, and all forms of cards such as debit, credit, prepaid, consumer, and corporate cards for any type of business are all available through the organization. Its services are beneficial to businesses such as loan providers, fintech companies, and financial institutions.

Every card that Wallester provides to businesses has 3D security incorporated into it, which adds an extra layer of security to online transactions. For increased convenience, they can be linked to Apple Pay, Google Pay, and Samsung Pay. Wallester offers everything you need for business-branded credit and debit cards, from white-label card issuance to a full loyalty rewards programme. Their user-friendly API gives users access to the most up-to-date data on any device, anytime and wherever they need it. Wallester, a registered white label Visa card issuer, bridges the gap between corporate financial demands and banking by meeting all card-issuing criteria as well as several popular functionalities.

The company is PCI-DSS Level 1 certification and also assists in the detection of payment card fraud, decreasing potential financial losses, which is a beneficial service for both customers and businesses. Other services provided by the company include the ability to design your own cards and manage them. The white-label debit card from Wallester is simple to set up and provides an extra revenue stream. It is related to the amount of money loaded, so if the user makes a large purchase with a small debt, it will be declined immediately.

Wallester, headquartered in Estonia, provides business services to clients in all of the European Economic Area. The company currently has 38 active partners and over 1.5 million active customers.

In the coming years, embedded banking is quite likely to be the future of banking and finance. It is to become the go-to technology for connecting financial institutions with customers and business platforms. Embedded finance is the future for a number of reasons. It not only helps unlock alternative sources of revenue but also provides an array of flexible, easy, and cheaper financial services. Companies like Wallester make your business lives easy by shortening your digital lending journey and reducing the cost of processing a loan.

To stay dominant in the market, businesses are resorting to digital platforms which play a crucial role in the distribution of financial services. As the digital climate continues to evolve it is clear that it will require initiative and hard work from those who wish to stay on top. Companies like Wallester, Lendflow, Stitch, and Railsbank are leveraging this technology to make traditional banking a thing of the past. Embedded finance is just a click away and is useful, especially for developing nations to make their mark in the financial industry.