Embedded Finance: Market Forecasts, Key Trends & Segment Opportunities 2021-2026

• Sector Dynamics: Analysis of key trends and primary challenges across the emerging space; including the following elements:
  • Open banking and what is needed to support embedded finance
  • Key challenges restricting growth
  • How Banking-as-a-Service will enable new entrants
• Segment Assessment & Future Outlook: Specific assessment of how embedded finance is going to fare across several different verticals, across embedded banking, embedded payments, embedded insurance, embedded investments and embedded lending, as well as a future outlook for the overall market.
• Juniper Research Leaderboard: 15 vendors positioned on the Juniper Research Leaderboard; accompanied by heatmap-based scoring and individual player analysis. Vendors covered include:
  • Bankable
  • Banxware
  • Bond
  • Cross River
  • Finix
  • Flywire
  • Marqeta
  • MX
  • OpenPayd
  • Plaid
  • Q2
  • Railsbank
  • Synapse
  • Tink
  • UNIPaaS Payments Technologies
• Benchmark Industry Forecasts: Forecasts sizing markets up to 2026 for embedded finance, split by embedded banking, embedded payments, embedded insurance, embedded investments and embedded lending, as well as by our 8 key regions and the 25 countries listed below:
  • Argentina
  • Australia
  • Brazil
  • Canada
  • China
  • Colombia
  • Denmark
  • France
  • Germany
  • India
  • Italy
  • Japan
  • Mexico
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Saudi Arabia
  • Singapore
  • South Africa
  • South Korea
  • Spain
  • Sweden
  • UK
  • US

1. What will the total value of the embedded finance market in 2026 be?
2. What segments are best suited to embedded finance disruption?
3. What frameworks and technologies need to be in place to support growth?
4. Where are the biggest opportunities for vendors in the market?
5. Who are the leading vendors?

Case Studied: Lyft
 
Included in Juniper Research Leaderboard: Bankable, Banxware, Bond, Cross River, Finix, Flywire, Marqeta, MX, OpenPayd, Plaid, Q2, Railsbank, Synapse, Tink, UNIPaaS Payments Technologies.
 
Mentioned: 500 Startups, 9 Yards Capital, ABN, ABN AMRO Ventures, Acorns, Advent, Adyen, Affirm, Afterpay, Alipay, Amazon, American Express Ventures, Andreessen Horowitz, Aplazame, Apple, Arkea Banking Services, Auka, Bank of America, Barclays, Betterment, BM Technologies, Boleto, Bridge21, British Red Cross, California Pizza Kitchen, Cambr, Canaan Partners, Capital One, CapitalG, CBR (Central Bank of Russia), Charles Schwab, Chime, Chingona Ventures, Citi, Citizens Bank, ClickSWITCH, Clubessential, Coinbase, CoinZoom, Core Innovation Capital, Customers Bank, Dawn Capital, DCU Fintech Innovation Centre, Deutsche Bank, Digital Garage, Discover, Ditto Bank, Donut, Dozens, Dwolla, EBA (European Banking Authority), EllieMae, Eurazeo, Eurobits Technologies, Facebook, Fattmerchant, Fintech Sandbox, FinTecSystems, FiVision, FJ Labs, Force Over MaaS Capital, Formfree, Frollo, FSC (Financial Services Commission), GameStop, Goldman Sachs, Google, Grab, Greycroft, High Tech Grunderfonds, IBM, Index Ventures, Instantor, JCB, Jiffy Lube, JPMorgan Chase, Kabbage, KeyBanc Capital Markets, Klarna, Kleiner Perkins, LEVEL, LEVERIS, Lieferando, Lightspeed, LVL, Lyft, Manhattan West Asset Management, MANTL, MaRS, Mastercard, Mercado Libre, Microsoft, Morning, MyPocketSkill, N26, NASDAQ, National Tire, New Enterprise Associates, Nomad, Novalnet, Novus, Nubank, NYSE, Old National Bank, Paceline, Passport, Payfare, PayPal, Pelion Venture Partners, Pep Boys, PFC - Personal Finance Co, Prelim, PYMNTS, Quadpay, Quo, Rappi, Revolut, Robinhood, Rocketloans, Royale Oceanic, Service Center, Simpl, Spark Capital, Spendesk, Splitit, SS&C, Starling, Stride Bank, Stripe, Swissborg, Temasek Holdings, Tire Kingdom, T-Mobile, TPG, TPY Capital, Transact Payments, Trinity Ventures, Trustly, Uber, UK Department of Justice, UnionPay, Upstart, US Bank, US Bank, Venmo, Visa, VR Ventures, Wealthfront, WeChat, Wells Fargo, WhatsApp, William Blair , Wirecard Card Solutions, Y Combinator, YAPEAL.
 

Juniper Research’s Embedded Finance forecast suite includes:

• Forecasts include digital banking deposits held via Banking-as-a-Service platforms, embedded payments transaction volume and value, embedded insurance premiums written, embedded investments assets under management and Buy Now Pay Later market value.
• Interactive Scenario Tool allowing users to manipulate Juniper Research’s data for 8 different metrics.
• Access to the full set of forecast data of 61 tables and more than 14,700 datapoints.

Geographical splits: 25 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

 

The value of the embedded finance market will exceed $138 billion in 2026, from just $43 billion in 2021. The market value includes insurance premiums, transaction revenue and licencing costs.

• This extraordinary growth of over 215% will be driven by the increasing availability of APIs from financial services vendors. The easy integration of these APIs will lower the barriers to entry for financial services and create a significant new revenue opportunity for providers of embedded finance.
• Revenue from Buy Now Pay Later services, which embed lending seamlessly into the eCommerce checkout process, will account for just over 50% of the embedded finance market in 2026.
• Embedded insurance holds promise as a compelling way to boost the uptake of insurance for high-value products with eCommerce users. By bringing insurance directly into the checkout process and pairing it directly with the individual high-value item, product insurance becomes a compelling proposition. This integration and greater use by high-end eCommerce retailers will see global embedded insurance premiums grow to over $10 billion in 2026, from just $3.8 billion in 2021