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Insights and Expertise

As major corporations and financial institutions in-
creasingly offer embedded financial services such as
digital wallets, prepaid cards, credit cards, loans and Unlock Your
insurance, many banks are beginning to partner with
fintech companies. This business model has the poten-
tial to account for up to 50 percent of a bank's revenue Growth Potential
("Embedded finance: Who will lead the next payments
revolution?" (McKinsey & Co). With a BCP Loan

Evolving customer demands

Fintech and the payments industry will continue to
experience rapid technological advancements to meet
evolving customer demands and adapt to shifting geo-
political, regulatory and global economic conditions.
The range of money movement methods is expanding
at an accelerated pace.

Users are increasingly seeking all-in-one solutions that
provide access to essential services through a single
platform, enabling efficient and secure management
of both personal and business needs. Digitalization is
poised to address socio-economic disparities and in-
equalities, offering improved money management op-
tions for people of all nationalities and ages across the
United States and the Americas.

Note: the following resources are referenced in this ar-
ticle:
• "COVID-19 drives global surge in use of digital pay-
ments," June 29, 2022, www.worldbank.org/en/news/
press-release/2022/06/29/covid-19-drives-global-surge-
in-use-of-digital-payments
• "Embedded finance: Who will lead the next pay-
ments revolution?" Oct. 13, 2022, www.mckinsey.com/
industries/financial-services/our-insights/embedded-fi-
nance-who-will-lead-the-next-payments-revolution
• "What does embedded finance mean for business?",
PricewaterhouseCoopers, June 16, 2024, www.pwc.
com/gx/en/issues/technology/tech-translated-embedded-
finance.html
• "Capturing the $250 trillion cross-border pay- BOCA
ments opportunity," PYMNTS, April 9, 2024, www.
pymnts.com/news/cross-border-commerce/cross-border- CAPITAL
payments/2024/capturing-the-250-trillion-cross-border- PARTNERS
payments-opportunity/

Get a loan from $100,000 to
Andrew Russell is the president and CEO of Sound Payments, a
key player in the payments integration, POS and cloud services
space. Over the years, Andrew has held various positions in the $5,000,000 for your ISO today
banking and financial sectors, the most current being the CEO
of Mid-Atlantic Federal Credit Union. After 34 years of service in
the U.S. Navy and U.S. Army, Andrew retired from military service
with the rank of Major. Currently, he is in the process of pub- Call Now: 844-531-4957
lishing his new book Creating a Leader – An American Story.
Contact him via LinkedIn at www.linkedin.com/in/andrewprussell. bocacapitalpartners.com

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