Where Can I Find Top-Rated Embedded Fintech Solutions in the U.S.?

Tech and finance enthusiasts from all over the world have eagerly seen the evolution of embedded fintech products. They are essential for providing a seamless experience for customers and businesses in a digital-first landscape. Many secure platforms are available with features to fit the demands of modern consumers. Where can you find the top-rated embedded fintech solutions in the U.S.?

What Is Embedded Fintech?

Conventional banking has become outdated. Embedded fintech is an umbrella term for handling money with software and the internet. Most are business-to-business products for financial entities.

Some features include making straightforward payments, bill negotiation, managing subscriptions, robo-investing, and exchanging foreign currencies. However, more advanced platforms expand data visibility as they track customer behaviors or enable scaling by giving people new ways to earn revenue. Users want their monetary resources accessible at all times, with the ability to transform and transfer them without bureaucratic barriers.

Many embedded fintech examples fall under the goals of embedded finance, though the latter focuses on bringing monetary solutions to nonfinancial enterprises. It is not enough for veterinarians to stock pharmaceutical products — they should also provide pet insurance. Food-ordering apps must let customers pay within the native infrastructure instead of being redirected to a third-party platform.

Many take these examples for granted nowadays, but they have shaped consumer expectations. Shoppers need financial flexibility at the point of need. Otherwise, you could lose customers. Expanding embedded finance into fintech brings new internal processes, primarily to financial institutions, to make their services more comprehensive.

Many platforms are available to help organizations streamline their financial operations, so clients and buyers only use native services. If you want to know where you can find the top-rated embedded fintech solutions in the U.S., these are the best.

1. Array

Array is one of the top-rated fintech options because it gives institutions and digital-first organizations the tools they need to generate more revenue. It has many competitive features, including data furnishing to help customers’ credit and an engine to create credit offers based on user parameters. The tools have high standards for privacy, identity protection and data security without sacrificing innovation or a robust API.

Customers should choose Array because of its customer-centric approach. It created a suite with entirely customizable features, including private labels and software development kits. Businesses can also deploy their Array tools in as little as six weeks compared to the 18-month average. It has experts available to discuss details and educate you on its possibilities, or you can dive into its newsroom and blog for more information about the fintech landscape.

One customer praised the user interface of Array, saying, “Very easy and user-friendly interface that allows for a lot of information at the snap of the finger. An interactive interface that provides everything you are looking for to keep up with your credit.”

Also read: 5 Tips To Stop Fraud In The Fintech Sector

2. Canopy

Canopy is a business-to-business fintech solution focused on loan management for commercial entities. This specialty makes Canopy an interesting leader because its loan servicing offers personalized policies, competitive interest rates and flexible payment methods to encourage retention. The company values its borrowers and understands that the market evolves constantly, so its product considers that volatility by adapting to customer needs.

The dashboard provides tons of valuable information and data to help borrowers increase their financial literacy, such as statements, collateral management and formatted data. It also makes complex processes more straightforward, such as reminding customers of fee waivers and creating a single system of record. The ledger clarifies calculations in real time, so you see how procedures influence each other.

Reviews often mention Canopy’s communication features and how it helps its customers, with one saying, “Email integration allows us to see what is going on across all clients, very cool. It is awesome to see tasks across the organization all in one spot and the portal is great. I also like the feature of being able to send a secure link to an upload area for prospects and non-clients. We plan on utilizing the time and billing, but are going to focus on the client list and tasks for the first few months post-implementation.”

3. Plaid

Plaid is trusted by some of the biggest financial experts in the world, including Venmo, LendingTree and Shopify. It is a data-driven solution, promising the fastest onboarding of any option on the market. During this phase, customers see the long list of benefits they will gain by committing to Plaid, including fraud detection and boosted conversion rates. It has a vast array of payment solutions, including multi-rail payment and automated account verification.

One of Plaid’s strengths is the cash flow data, which informs underwriting policies. It gives organizations using Plaid greater clarity on who they can approve based on real-time lending insights. To encourage even greater flexibility, users can connect all financial apps with Plaid if they have a more complex app stack.

Feedback about Plaid often mentioned its customization options and simplicity, with one customer reporting, “Plaid has a highly customizable user experience that we can fit to our needs, and also provides plenty of different products that provide information we can get from a single connection. Highly useful in verifications and underwriting, and can also reduce fraud when used carefully.”

4. Unit

Unit promises a zero-build embedded fintech solution ready in as little as three weeks. It is the most plug-and-play option on the market. It has capital information, banking, and bill pay tools in one place. Its unique value proposition is doubling revenue for every customer, which has enticed many organizations to commit. Software-as-a-service leaders use Unit, including Roofstock and Nav, which have experienced increased engagement and customer lifetime value.

Its APIs, dashboard and integrations are completely customizable straight down to the code. If customers need a specific solution, they can request one from Unit and have a bespoke product in as little as two months. Regardless of which option you go with, its infrastructure has helped over 1.8 million users manage over $40 billion in annual transaction volume.

Most of the reviews about the Unit mentioned its easy integration and onboarding process. One user said, “Unit is a BaaS platform that offers APIs, SDKs and white-labeled UIs to enable companies to build financial features like accounts, cards, payments and lending into their products. It also streamlines compliance and offers built-in bank relationships. Unit reduces the cost, time, and regulatory burden of building financial products from scratch for non-fintech companies.”

5. Pinwheel

Pinwheel is backed by organizations like Credit Karma, DoorDash, KeyBank and Upstart. Its PreMatch feature is its most sought-after benefit, which doubles conversion rates. Users only need to use their account profile to check eligibility for services. It also instantly identifies payroll without cumbersome searching. CEOs can enjoy easy direct depositing and financial management with as few pain points as possible.

Its partnership with Paychex allows 45 million people to make the direct deposit switch credential-free. Its algorithm also helps customers become more informed about their financial situation. It automatically detects recurring payments and has embedded one-click bill switching without the need to use another app.

Testimonials highlight Pinwheel’s great customer service and how it enables companies to have strong relationships with clients, saying, “Customer experience is a top priority of ours. By partnering with Pinwheel, we know we’re offering our customers the strongest coverage and highest-quality experience.”

What Are the Benefits of Embedded Fintech?

Do companies need to expand their financial flexibility to this degree? In today’s society, scalability and corporate resilience rely on streamlining the exchange of money. Embedded fintech also creates other benefits for companies.

Creating New Revenue Streams

A small electronics company can offer warranties at the point of purchase without guiding customers to another website. You could also charge transaction fees to help cover overhead because you can customize payment structures. These are only a few examples of how embedded fintech solutions enable growth in new verticals.

Also read: 3 Proven Ways for Companies to Increase Revenue Growth

Positioning as a Thought Leader

Financial institutions leveraging embedded fintech expand their customer reach because of their competitive offerings. This expands industry brand awareness and solidifies institutions as innovators in the space.

As organizations in all sectors embrace digital transformation and eliminate silos, people will focus on enterprises providing an all-in-one solution to financial management. Eventually, this could lower customer acquisition costs as companies make the most out of their dedicated, existing client bases.

Maintaining Compliance

Regulatory risk is easier to eliminate with software because its programming is designed to maintain compliance. Fintech innovators must have their products deemed safe by certain organizations, though some rules vary from state to state.

Many general financial laws apply, such as anti-money laundering and know-your-customer protocols. However, the most important requirement is cybersecurity to protect financial data. Some platforms use more advanced solutions, like blockchain, to maintain transparency with more profound protections.

Establishing Customer Loyalty

Shoppers want convenience, and organizations that focus on providing embedded fintech will see repeat customers. They enjoy the purchasing process because it is simplified compared to competitors. Brand loyalty grows as user experience streamlines.

For example, many shoppers may not complete a purchase if it does not support flexible bill payments, like buy-now-pay-later structures. They may also leave if they only have the option to invest in conventional stocks instead of cryptocurrency. It should be an inherent part of the business model so customers can access it if desired.

Boosting Cost-Effectiveness

Monetary benefits manifest in several ways. First, companies pare down their tech stacks. Expensive third-party solutions are everywhere, each specializing in unique financial advantages. Embedded fintech platforms collect these assets into a single location, making the expense a single bill to worry about.

Additionally, embedded fintech has a high return on investment. Hosting these services is more cost-effective because organizations can cross-sell or upsell products. Platforms use customer data to offer customized products and special offers based on their habits and demographics, making the platform more appealing to new and existing clients.

FAQs About Embedded Fintech

Dive into the more nuanced information about these services so you can become a pro when you contact these companies.

Where Can I Find Top-Rated Embedded Fintech Solutions in the U.S.?

Embedded fintech possibilities are expanding beyond expectations. The most competitive organizations are contacting organizations to see how their services can benefit their operational structure and make payment processing more versatile and customer-focused. Reach out to any of these top-tier solutions, as they will empower businesses of all sizes to grow with digital transformation leading the charge.