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PraizThe 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 15 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 — 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.
15 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.
Card Issuing
Launch branded debit, credit, or prepaid programs with virtual and physical cards and digital wallet provisioning.
Payments
Payouts, marketplace payments, and merchant services so platforms can offer payments without becoming processors.
Lending
Working capital, B2B BNPL, invoice financing, and revenue-based financing via APIs.
Payroll
Your platform becomes the payroll provider — powered by infrastructure you did not build.
AP/AR
Invoicing, bill pay, and collections so vertical SaaS and marketplaces can offer finance automation.
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.
FX & Cross-Border
Multi-currency accounts, international payouts, and hedging via APIs for global payments.
Compliance (KYC/KYB)
Identity verification, AML screening, and fraud decisioning via APIs for onboarding and compliance.
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.
Vertical SaaS
Industry software with embedded payments, lending, or cards for one integrated merchant experience.
Help shape the report
Whether you're building embedded finance, buying it, or investing in it — your perspective matters. The survey takes 5 minutes.