To our language; The concept of ’embedded finance’, which can be translated as integrated finance, means offering financial services to users by incorporating them into non-financial products and services such as e-commerce and logistics. This concept, which enables financial services to be integrated directly into websites, mobile applications or other digital platforms, brings major changes to the way financial services are presented to consumers.
Integrated finance benefits both financial institutions and non-financial companies. Financial institutions can reach new categories of consumers and delivery methods of financial services, while non-financial companies can expand their service offerings and attract customers
can increase participation. Companies that previously could not offer banking services or had nothing to do with banking are now offering more opportunities and benefits to their customers. higher quality They can offer services. For example; They can offer the option to save card information on e-commerce websites so that consumers do not have to enter credit card information during each purchase, and they can offer credit opportunities for online purchases.
Huge Increase in Embedded Finance Market Value is Expected
Integrated finance is predicted to significantly change the financial landscape as technology and regulations advance. As a matter of fact, according to a study’embedded finance’ market value in the next 10 years 7 trillion USD is expected to exceed. This estimated value is currently worth twice the total value of the world’s 30 largest banks. The US embedded finance market has exceeded USD 22.5 billion. This is expected to grow 10-fold and reach 230 billion USD in 2025.
In order to become an integrated finance provider, fintech’s goals and vision regarding integrated financial services must first be clearly shaped. Then, the specific solutions that are intended to be offered to users and how compatible they are with the company’s value proposition must be determined. To become an integrated finance provider, technological infrastructure must be developed, teams must be conscious, awareness of financial laws and regulations such as KYC (Know Your Customer) must be ensured, and security measures must be implemented to protect users’ personal and financial data.
Your Leading Partner in Integrated Finance Solutions: Param
Turkey’s leading fintech company Param as an integrated finance provider and one of the key players in the market stands out. With its integrated finance strategy, Param makes all financial products and services more accessible and useful for its business partners under its ecosystem. My money is on this with an integrated finance approach It provides services to accompany the end-to-end integration of financial services into products and platforms anytime, anywhere. Param is increasing its influence in the ecosystem in Turkey and Europe day by day with different solutions in the field of financial technology.
As an integrated finance provider, Param not only offers a product or service, but also fully integrates these solutions into the customer’s business processes. In this case, financial transactions order and stock management systems It means combining it with different applications such as and digitalizing commercial activities. Thanks to this integration, customers not only make payments but also interact within an ecosystem. dynamic and flexible It provides easy access to financial instruments.
Param’s approach to being an integrated financial provider integrates financial services into everyone’s daily life, allowing users to carry out their financial transactions whenever and wherever they want. This understanding creates an ecosystem that focuses on customers’ needs. Param’s integrated finance approach ensures that all processes from order systems to stock management, from in-store operations to online sales. are integrated with each other We can say that it focuses on creating a world in which the payment solution is also integrated.
Param’s Role as an Integrated Finance Provider
Param has created an integrated finance ecosystem that meets business and consumer needs by blending financial services with technology. Each group companyBy taking part in different levels of this ecosystem, it effectively integrates financial processes.
ParamPOS and ParamKart: ParamPOS is available for any time where physical or remote payment is made, especially on e-commerce sites. perfect collection solution presents. ParamKart is a tool that makes personal finance management even easier. It is a prepaid card.
finrota: Online collection and open banking It produces solutions for customers’ needs in its fields.
My credit: Introducing the ‘Buy Now, Pay Later’ model to Turkey for the first time, Kredim offers online shopping as well as QR codes. credit shopping opportunity presents.
Univera: Companies in the fields of sales, service and logistics digital transformation solutions presents.
Univis: Hardware sales, technical service and IT support It facilitates the production and operation processes of companies with its services.
ParamTech: Provides banks and financial institutions with the tools they need to quickly start their operations and grow technology infrastructure provides.
Twisto: Europe’s leading “Buy Now Pay Later” Twisto, one of the platforms, provides convenience to its users, especially with virtual cards and smart payment solutions.
Param has created an integrated finance ecosystem that meets all kinds of business and consumer needs by blending financial services with technology. Each group companyBy taking part in different levels of this ecosystem, it effectively integrates financial processes.
Solutions provided by Param Group companies; in the entire chain from manufacturer to consumer, from main dealer to sub-dealer and end user, business processes And financial transactions connects each other. The strongest aspect of this integrated structure is that each component of Param interacts with each other. complementary functions is that it has. Param continues to shape the industry with its integrated financial solutions.
Param’s integrated finance approach, cyclical It works as an ecosystem. Namely, businesses from every sector, starting from the manufacturer to distribution and retail service points, can integrate their financial processes with the solutions offered by Param. This integrated finance model provides Param’s partners with a financial services network where each function works in harmony with each other. For example ParamPOSIt speeds up transactions by enabling distributors and wholesalers to accept payments at points of sale. This allows stock management and sales processes to run smoothly. ParamKartmakes financial management even easier for personal users and companies, and provides various advantages such as a cash refund system. ParamKart Co-Branded Card projects companies, unions, etc. It provides loyalty opportunities to organizations’ own users. my creditWhile providing financial comfort to its users with the limits it provides, it offers many advantages for increasing turnover, such as new customer acquisition, customer retention, stock-reducing special campaigns, and a successful shopping experience for users who receive limit errors when shopping with credit cards. Main dealers, sub-dealers, corporate companies, SMEs of Finrota offered with open banking solutionscan manage financial transactions from a single point. With Kredim Business financing model Companies are offered flexible payment plans and credit facilities, making large-scale purchases easier. Param’s integrated financial services enable member merchants to increase customer experience by offering customer loyalty programs and personalized payment solutions. New companies obtaining payment institution licenses; electronic money, digital bank, card issuance, card processingaccount, BNPL, payment and API integration many technology products such as With ParamTech They can start their activities quickly and with affordable investment budgets, and also carry out infrastructure renewals very quickly with ParamTech products due to increasing customer traffic and needs. Thanks to ParamTech’s infrastructure, banks and fintech organizations can use all payment systems and financial operations can be managed smoothly. Univera The wide range of services it offers by developing innovative software supports businesses in digitalizing their sales, service, payment and logistics processes, while increasing their operational efficiency, profitability and most importantly. seamless from end to end enables them to receive a service. Univis; In addition to corporate hardware solutions, it provides end-to-end traceability of businesses with customized labeling, RFID, IoT and mobile device management projects. With its strong service structure, it offers technical and spare parts support for all hardware solutions.
Param Founder and CEO Yılmaz: We Will Be Effective in Line with Our Integrated Finance Provider Strategy
Within the scope of DigitalTalks Fall 23 event “Developing Türkiye Fintech Ecosystem” Speaking at the session titled Param Founder and CEO Emin Can Yılmaz, he briefly evaluated Param’s integrated financial services as follows: We We are an integrated finance provider So we set off. integrated finance in 2030 I’m sure it will reach its predicted position much faster. Because the need for non-financial companies, such as a fuel seller, food wholesaler, food vendor, to connect to a financial service stems from the need to stand out from the company they compete with. We will be active in Turkey, Europe and in the future in many parts of the world in line with our integrated finance provider strategy. We will be connecting much more automated financial services to non-financial institutions without manual processes. This a new innovation we can say. In fact, bringing financial services to people’s doorsteps is integrated finance. Therefore, we are trying to create structures where each of our companies can automatically install a financial service into their internal processes, manage it comfortably, and use it more efficiently at very low costs. Competition seems to evolve into more integrated finance. Only collection services, money transfer and processing Fintech service in a single vertical It will have to consolidate in the next year or two. It is obvious that we will stand out in the competition by providing integrated financial services. Frankly, we are trying to create this in its entirety.”