Unlocking financial innovation with SEB Embedded
SEB Embedded enable companies to monetize financial services under their own brand without becoming a bank. The concept was born out of SEB’s innovation studio SEBx. Automated data collection through Roaring ensures regulatory compliance and enables a swift customer onboarding.
As part of the SEB Group, SEBx is a strategic initiative to reimagine what banking could be by exploring new technologies and customer offerings. With SEB Embedded, they are among the first established banks to launch into the space of Banking-as-a-Service, BaaS.
Leveraging experience and new partnerships
SEB Embedded enables companies to embed financial services into their own businesses and user journeys, to create magnificent customer experience and exciting business opportunities. They are able to do this by combining the agility and legacy-free infrastructure of a fintech startup, with the experience and knowledge of an incumbent.
Christoffer Malmer
Head of SEB Embedded
– Banking-as-a-service is a fascinating space developing really quickly right now. For us, it is about leveraging our strengths as a full-service bank, building new technology around it, says Christoffer Malmer, Head of SEB Embedded.
– But it is also about finding the right partners to help build great products and services. Our experience is that Roaring is a great partner in the area of data collection and real-time subscription.
Real-time customer data provided by Roaring
Automated collection and verification of customer data helps fulfill the ambition of regulatory compliance as well as creating a great user journey through swift onboarding.
Emelie Magnusson
CPO at SEB Embedded
Photo: Felicia Yllenius
– We aspired to take a completely fresh approach to customer onboarding in banking, by leveraging new technologies and new partners, explains Emelie Magnusson, CPO & Deputy Head of SEB Embedded.
There are several benefits of automating data collection och verification.
– By only collecting and paying for the data we actually use, instead of buying bulk data, we can reduce costs and data management, Emelie Magnusson continues.
SEB Embedded is also using Roaring’s monitoring services to ensure compliance over time.
– The monitoring services are great. Not only do they ensure that we have correct, up-to-date data at all times, but they also help us work proactively with customers, confirming potential changes immediately, and help customers steer clear of fraud or irregular activities affecting their company, says Emelie Magnusson.
SEB Embedded enable companies to embed and monetize financial services under their own brand without becoming a bank. The concept was born out of SEB’s innovation studio SEBx
