Embedded Israel – The Future of Fintech in 2024

It is renowned that Israel’s Fintech sector is not only vibrant but also thriving, a sector which hosts an array of fantastic companies in a whole field of different verticals. Everything from digital payments to wealth management solutions to lending software, Israel is able to create companies that cover all bases. One of the most important sectors for the year ahead, however, is embedded finance, an area that is gaining more traction in Israel and the wider Fintech community.

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With more companies expanding their digital transformation policies and looking to adopt more technology into their more traditional services, embedded finance technologies are looking to fill the gap that will help them do so. Embedded finance is one of the main instruments that helps companies across a variety of different to enhance their financial capacity through technologically advanced financial products. With the rise of AI and machine learning, 2024 will see embedded finance become a feature for more traditional companies that want to move on from the traditional banking services of the past decade. In e-commerce, travel, health tech, entertainment, and retail, you are seeing growth in the use of embedded finance products. Helping to improve revenue streams, create new partnerships, build a more competitive environment, and promote financial security in the smaller sectors that are less inclined to be able to afford larger legacy-type systems.

Below are some of the fastest-growing and more successful companies coming out of Israel in the embedded finance space:?

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• Rapyd is a global fintech platform that provides a wide range of financial services through its APIs. They enable businesses to embed payment, banking, and other financial capabilities into their applications, facilitating cross-border transactions, compliance, and more. Rapyd has strong ties to Israel's tech ecosystem.

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• Noble empowers any company to quickly build, launch, and scale digital financial products by providing a complete infrastructure to verify customer identity, assess risk and financial health, and determine creditworthiness. The platform supports decisions across the full customer lifecycle by automating onboarding, underwriting, and monitoring processes for FinTechs, B2B Marketplaces, and Vertical SaaS companies deploying complex financial models.

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• Unit is the leading financial infrastructure platform that helps tech companies, store, move, and lend money. Unlock new revenue streams and delight your customers.

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• PayKey is an innovative Fintech company offering a unique platform of embedded banking solutions for banks and financial institutions. PayKey’s platform offers fully white-label solutions allowing banks to serve a variety of financial services from payments and loans to investments, savings, salary on-demand, and more - all within customers’ daily interactions. The company’s patented Banking Keyboard solution enables bank customers to instantly access banking services within everyday mobile interactions in all social & messaging, e-commerce, search, and other mobile apps. With PayKey’s Earned Wage Access solution, customers can instantly access their already earned wages on-demand, before payday, increasing liquidity and financial well-being.

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• Payoneer offers cross-border payment solutions. While not solely focused on embedded finance, its infrastructure can be leveraged by other platforms to embed payment capabilities seamlessly. Payoneer's services are especially beneficial for freelancers, digital businesses, and e-commerce platforms.

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• PagoNxt is an Israeli fintech company specializing in embedded payment solutions. They offer a platform that allows businesses to embed payment capabilities directly into their applications, websites, or platforms, streamlining the payment process for both businesses and customers.

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It is these types of companies that are helping to grow the Israeli economy in the right direction and also help drive global innovation to make a more efficient, advanced, and productive world.

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