Opening Up New Possibilities with Embedded Finance

Embedded investment projects are increasing exponentially. However, with recent advancement in digital technologies and the expansion of the digital ecosystem, new opportunities for financial services providers have emerged as never before.

Simply defined, embedded finance enables the seamless integration of financial services across all industries, such as retail, travel, and telecommunications. By investing in embedded finance, providers can broaden their reach beyond the traditional banking segment and dramatically accelerate their revenue. At the same time, customers stand to benefit from increased personalization at the point of sale.

Unlocking the power of digital identity helps financial service providers capitalize on this opportunity through seamless, secure, and scalable access experiences across all channels of engagement. Ping Identity helps financial service providers harness the opportunities across the growing embedded landscape.

1. Transform Access Experiences

The increasing use of point-of-sale financing along with the drive to make better use of financial data are forcing traditional banks and financial technology (fintech) providers to rethink how they adapt to changing market needs. Consumers increasingly demand frictionless login experiences, personalized offerings, and financial services in exchange for brand loyalty.

Ping Identity helps financial service providers deliver seamless, secure, and scalable login experiences across all first- and third-party point-of-sale touchpoints. By leveraging dynamic multifactor authentication (MFA), single sign-on (SSO), and passwordless authentication (including FIDO2 passkey standards), Ping Identity ensures that authentication experiences enable, rather than inhibit, end-to-end embedded finance journeys.

Secure and streamline customer logins across all touchpoints to boost conversion rates.

Ping Identity works with leading financial service providers and serves:

Learn more about the Ping Identity customer identity and access management (CIAM) solutions.

2. Enable Third-Party Data Sharing

Customers expect seamless interactions and data-driven experiences but remain skeptical of how organizations collect, store, use, and share their data. Consent and privacy are especially important where vital personal data is being shared across multiple organizational boundaries and digital ecosystems.

Modern IAM helps financial service providers secure their customers' data while providing control over what is shared with third parties. By building a real-time view of customers' needs across all engagement channels and utilizing data securely to deliver value-added personalization, financial service providers can expand their multichannel reach while complying with privacy regulations.

Increase average product holding by building privacy-driven customer relationships across all touchpoints.

Ping Identity helps financial services providers enhance privacy-driven trust:

3. Secure Third-Party Access

The true engine behind embedded finance isn't just customer demand or fintech innovation; it's trust. Trust that financial service providers can extend to the external parties delivering their services at scale. But as embedded finance initiatives multiply, so does the risk profile: banks, insurers, and wealth managers now find themselves managing access for hundreds, if not thousands, of third-party entities across complex B2B, B2B2C, and B2B2X relationships.

Ping Identity helps financial service providers secure third-party access against malicious actors by establishing verified trust at every stage of the identity lifecycle. With verified onboarding, policy-based access control, delegated administration, and real-time auditability, providers can enforce Zero Trust principles, accelerate partner activation, and meet global compliance mandates like DORA and GDPR.

Secure your third-, fourth-, and N-th party access journeys by creating a scalable identity fabric across your rapidly growing ecosystem.

Learn more about Ping Identity's B2B access solutions.

4. Enable Verified Trust

As embedded finance becomes increasingly central to how financial services are delivered, providers must rethink how they establish and maintain trust. Today, verified trust is no longer a one-time check. In a landscape shaped by AI-generated deepfakes, third-party access sprawl, and rising regulatory scrutiny, trust must be verified continuously.

Ping Identity enables verified trust across the embedded finance ecosystem through a comprehensive identity fabric that unifies verification, governance, and user experience. By integrating with trusted identity anchors and continuously assessing risk signals, it detects anomalies and prevents identity spoofing in real time. With step-up authentication, delegated access, and decentralized, privacy-preserving design, Ping Identity ensures security without sacrificing user control or experience.

Prevent fraud, streamline access, and strengthen ecosystem security by enabling verified trust across all touchpoints.

Ping Identity helps financial services enable verified trust:

Learn more about Ping Identity threat protection capabilities.

5. Scale the Embedded Finance Ecosystem

Securing a sustainable return on embedded finance investments is highly contingent on securely scaling the expansive third-party provider (TPP) ecosystem. An embedded finance customer journey consists of a number of "hand-offs" between point-of-sale merchants, payment providers, and the owners of the underlying financial instruments. Beyond that, there are the banking-as-a-service (BaaS) solutions, and providers of payment platforms, infrastructure, and identity and access management (IAM) solutions.

A modern identity strategy allows organizations to secure APIs and streamline access for third-party providers across both customer and administrator journeys. By enabling scalable, standards-based integration with configurable access controls, it supports faster growth and greater interoperability across embedded finance ecosystems.

Boost agility, reduce total cost of ownership (TCO), and minimize unauthorized access risks through modern IAM.

Ping Identity helps financial services providers grow their third-party ecosystem:

The Ping Identity Platform in Financial Services

Ping Identity's market-leading converged IAM solutions help leading global enterprises meet all their consumer, workforce, and third-party identity needs using a single unified platform.

Nowhere is this more important than in the financial services industry. Leading financial service providers trust Ping Identity to protect their customers, their mission-critical infrastructure, and their rapidly growing digital ecosystems. Beyond that, Ping Identity helps these very providers mobilize cutting-edge IAM innovation to accelerate their digital transformation investments.

The Ping Identity Platform is purpose-built to support any type of identity across the end-to-end identity lifecycle, provides extensibility across 1,800 third-party biometric, risk management, and identity proofing technologies, and gives full flexibility to consume its comprehensive services in self-managed, hybrid, and SaaS settings. This is all orchestrated from a powerful drag-and-drop low-code/no-code engine that helps to accelerate agility, reduce costs, and advance your digital roadmap.

Learn more about the Ping Identity Platform.

References

1 Forbes: The $7 Billion Embedded Finance and BaaS Gold Rush

2 Mambu/AWS: Embedded Finance - Who Will Win the Battle for the Next Digital Revolution?

3 Grand View Research: Embedded Finance Market (2024 - 2030)

4 McKinsey: The Value of Getting Personalization Right - Or Wrong - Is Multiplying

5 Entrepreneur: What Customers Expect Out of Their Digital Experience

6 Ping Identity: 2023 Identity Breach Report

7 Ping Identity: Consumer Survey 2023

8 Google/Ipsos: Privacy by Design: The Benefits of Putting People in Control

9 Ernst & Young: How Banks Are Staking the Claim in the Embedded Finance Ecosystem

10 IBM: Cost of a Data Breach Report 2023

11 Deloitte: “Third-Party Risk Management Survey”

12 SecurityScorecard: “Global Third-Party Breach Risk”

13 Exadel: Digital Identity in Financial Services: Avoiding Fraud in 2024

14 Forbes: Deepfake Phishing: The Dangerous New Face Of Cybercrime

15 Ping Identity: What is Account Takeover (ATO) Fraud? How to Detect & Prevent ATO

16 Ernst & Young: How Banks Are Staking the Claim in the Embedded Finance Ecosystem

17 Google Cloud: 2022 State of APIs and Applications

18 Ping Identity 2023 Identity Breach Report

19 Ping Identity: HSBC Customer Success Story