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Invoice2go by BILL
Optimizely
SalesflareThe State of
Embedded Finance in 2026
From BaaS and card issuing to embedded payroll and compliance, we're mapping the entire embedded finance landscape across 16 categories and 200+ providers. Take the survey to shape the report.
What the report will cover
Backed by survey data, provider analysis, and our Open Banking Tracker directory of 200+ platforms.
Market sizing
How big is each embedded finance category today, and where is money flowing fastest?
Build vs. buy signals
Which capabilities are platforms building in-house, and which are they outsourcing to infrastructure providers?
Category convergence
BaaS, payments, and lending used to be separate markets. The lines are blurring and the report maps who is expanding where.
Regulation & compliance
New rules are reshaping embedded finance across regions. We track which regulations matter and how providers are adapting.
250+ providers. 16 categories. One map.
The Embedded Finance Landscape maps every major provider — BaaS, card issuing, payments, lending, payroll, compliance, and the data infrastructure underneath — into a single quadrant view.
16 categories. One report.
The report covers every major embedded finance vertical, from infrastructure to distribution. Click any category to explore the providers on Open Banking Tracker.
BaaS (Banking-as-a-Service)
Regulated banking infrastructure via APIs: accounts, deposits, cards, and payments for non-banks.
Embedded Card Issuing
Launch branded debit, credit, or prepaid programs with virtual and physical cards and digital wallet provisioning.
Embedded Payments
Payouts, marketplace payments, and merchant services so platforms can offer payments without becoming processors.
Embedded Lending
Working capital, B2B BNPL, invoice financing, and revenue-based financing via APIs.
Embedded Payroll
Your platform becomes the payroll provider, powered by infrastructure you did not build.
Embedded AP/AR
Invoicing, bill pay, and collections so vertical SaaS and marketplaces can offer finance automation.
Embedded Collections & Recovery
Manage overdue receivables through APIs, accounting integrations, and regulated collection workflows.
Expenses & Spend Management
Corporate cards, expense policies, and reconciliation so platforms can embed spend controls.
Embedded Billing
Usage metering, subscription billing, invoicing, and entitlements via APIs for native billing.
Ledger-as-a-Service
Programmable ledgers, payment operations, and money movement infrastructure for fintechs.
Embedded FX & Cross-Border
Multi-currency accounts, international payouts, and hedging via APIs for global payments.
Embedded Compliance (KYC/KYB)
Identity verification, AML screening, and fraud decisioning via APIs for onboarding and compliance.
Embedded Insurance
Distribute coverage at the point of transaction so platforms can offer policies without underwriting.
Embedded Connectivity
Mobile plans, business phone numbers, and eSIM directly inside apps. No extra device, one bill.
Embedded Benefits
Health, retirement, commuter, and wellness benefits distributed inside HR and payroll platforms via APIs.
Financial Data Connectivity
The foundational layer that powers embedded finance: open banking, accounting, and payroll data APIs that feed lending, KYB, payments, and reconciliation use cases.
Help shape the report
Whether you're building embedded finance, buying it, or investing in it, your perspective matters. The survey takes 5 minutes.