ISTANBUL, TURKEY, November 8, 2024 /EINPresswire.com/ -- Dr. Ozan Ozerk, serial fintech entrepreneur and founder of global payment services provider OpenPayd, shared his views last week at Fintech Forward, one of the premier events on the global financial technology calendar. Hosted by The Economist and Bahrain Economic Development Board (EDB), the event brought together innovators, industry leaders, and policymakers to discuss the latest trends shaping the fintech landscape. During his panel discussion titled “Check-in: Embedded Finance,” Dr. Ozerk outlined embedded finance's progress and explored its vast potential to reshape financial services globally.

At the panel moderated by Jan Piotrowski of The Economist, Dr. Ozan Ozerk drew from his experience building several successful fintech ventures. He and Niraj Naetsawan of Additiv engaged in a fruitful discussion, offering the audience key insights into how embedded finance is “no longer the new kid on the block,” has demonstrated its value in driving financial inclusion and operational efficiency across various industries.

“Platform integration makes financial service adoption easier and more intuitive.”

Dr. Ozerk emphasised the considerable progress made in embedded finance over the last five years, its practical applications and its significant influence on neglected areas. "In many parts of the world, people are still not being well served by the finance industry at large. Whether due to poor underlying infrastructure, mistrust of traditional systems, or a host of other reasons, individuals and businesses are not getting access to services that could benefit them. Embedded finance offers a smarter way to reach the underbanked and underserved,” he said. These services may now be smoothly added into existing platforms that customers trust and use, making financial adoption more manageable and more intuitive. He mentioned the effective integration of payment services into communications platforms as a great example of how embedded finance transforms everyday experiences, mainly wherever financial accessibility is limited.

Bridging the gap between fiat currencies and crypto

A key theme in Dr. Ozerk’s remarks was how embedded finance connects traditional financial institutions called ‘TradFi’ and the increasingly popular world of digital assets known as ‘Crypto’ very efficiently. As cryptocurrency adoption takes off, particularly in regions such as Latin America, solutions that facilitate smooth transitions between fiat currencies and digital assets are in urgent demand. “Embedded finance is empowering further growth of crypto, far from being its competitor,” Dr. Ozerk said. He explained how embedded finance allows crypto businesses to manage their entire payment ecosystems through a single app, offering a frictionless experience for users who need to make transactions in both worlds.

“The build vs. buy debate is becoming increasingly one-sided.”

Dr. Ozerk pointed out the benefits for companies to collaborate with embedded finance providers like OpenPayd rather than try to create in-house capabilities as the regulatory environment of fintech gets more complex with regular updates covering areas like app fraud reimbursement and the New Consumer Duty. “The build vs. buy debate is becoming increasingly one-sided,” he remarked, highlighting the operational and compliance advantages of partnering with proven embedded finance platforms that can meet intricate regulatory demands so that businesses can focus on their own growth.

Dr. Ozerk main message throughout was that embedded finance is creating brand new opportunities for both financial and non-financial businesses, leading to smarter, more inclusive financial services worldwide. He concluded, “While we are truly excited by what embedded finance has achieved so far, we’ve barely scratched the surface of what it’s capable of.”

Fintech Forward fostered valuable discussions and strategic partnerships again this year with its 1000+ global attendees and 40+ speakers, establishing itself as a lively platform for fintech leaders to exchange ideas, showcase innovations and set the agenda for the future of digital finance. Dr. Ozerk’s panel address at Fintech Forward offered a mix of forward-thinking and practical insights about the growing stature of embedded finance and the next generation of financial services.

About Dr. Ozan Ozerk

Dr. Ozan Ozerk is the founder of OpenPayd, a leading embedded finance platform based in the UK, providing banking-as-a-service solutions to digital businesses globally. His other fintech ventures include API-first neobank EMBank and Ozan Electronic Money. With a background in medicine and a track record of successful fintech ventures, Dr. Ozerk is a recognised thought leader in the intersection of finance and technology. His work focuses on creating accessible, innovative financial services that connect traditional and emerging markets.

Arda Alipaşaoğlu
Ozan Electronic Money Institution
arda.alipasaoglu@ozan.com
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.