Marqeta Fireside Chat: FinTech LIVE London 2024
At FinTech LIVE London Global Summit 2024, Marcin Glogowski shared his insights into the evolving landscape of embedded finance.
He discussed the drivers behind its growth, notable innovations and what the future holds for this transformative industry.
The growth of embedded finance: Supply, demand and innovation
Marcin begins by exploring what is propelling the embedded finance boom across Europe.
At its core, he attributes the growth to the basic principles of demand and supply.
Consumers today expect convenience, personalised services and the ability to access resources like credit or faster payments seamlessly.
This shift in expectations has created an opening for fintechs to cater to historically unmet needs.
He emphasises how technological advancements have unlocked opportunities, allowing companies to meet this demand effectively.
“I think this demand has been there for a very long time, but this is the technology that has made it possible to happen and be supplied, which gave the rise of number of fintech companies tapping into those historically unmet elements of demand,” Marcin notes.
Discussing examples of innovation, he highlights Marqeta’s collaboration with Uber and Branch.
The partnership powers instant payouts for Uber drivers, enabling same-day access to earnings while offering benefits like cashback on fuel purchases.
He also cites their work with Swiss4, where personalised payment solutions are integrated with lifestyle services, delivering enhanced user experiences.
Lessons learned and the risks of falling behind
Reflecting on the rapid adoption of embedded finance, Marcin addresses the risks brands face if they fail to adapt.
Consumers increasingly expect seamless, efficient financial services embedded within their purchasing journeys.
For brands, not providing these options risks losing customer loyalty.
“Brands who will embrace it faster will gain on consumer experience,” he explains, “they will increase most and increase the frequency of the buyer returning for the positive experience.”
However, he also recognises the challenges fintechs face when entering the B2C space directly.
He suggests that partnering with established brands is a more sustainable strategy, leveraging existing customer bases and loyalty.
This collaboration allows fintechs and brands to create optimal buyer experiences while navigating the complexities of scaling embedded solutions.
Marcin also stresses the importance of aligning technology with customer protection.
Addressing concerns about responsible finance, he states: “Ending in the situation where someone is unable to repay is potentially very significant.”
Regulatory oversight, he argues, plays a crucial role in maintaining balance and ensuring that embedded finance solutions protect both businesses and consumers.
Looking ahead: What’s next for embedded finance?
With a forward-looking perspective, Marcin predicts that the future of embedded finance will revolve around hyper-personalisation and seamless integration.
For consumers, he envisions advancements where payment processes operate entirely in the background, powered by AI to deliver personalised purchasing experiences.
This shift, he suggests, is “much more the question when than if.”
Additionally, he highlights the untapped potential in the seller ecosystem, particularly among small businesses and gig workers.
These groups, traditionally underserved by conventional banks, stand to benefit significantly from embedded financial services like working capital solutions and expense management tools.
Marcin describes this sector as the next wave for fintech, where marketplaces can play a pivotal role in supporting SMEs with tailored financial products.
To achieve this vision, partnerships will be critical.
Marcin advises brands to select partners capable of scaling and offering holistic solutions to meet both current and future needs.
He explains how they should be “asking tough questions and are able to also answer tough questions.”
Essential diary dates for 2025
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2025 diary dates:
- FinTech LIVE Singapore | 25 February
- FinTech LIVE Dubai | 6 May
- FinTech LIVE New York | 17 June
- FinTech LIVE London | 7-8 October
- The Global FinTech Awards | 7 October
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