Market sizing
How big is each embedded finance category today, and where is money flowing fastest?
250+
Providers tracked
15
Report categories
2026
Annual report
~5 min
Survey length
What the report will cover
Four core themes, derived from survey responses and primary research across our provider directory.
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 product categories + 1 foundational layer.
The report covers every major embedded finance vertical — from BaaS and card issuing through to the connectivity infrastructure that powers them. Click any category to explore the providers tracked on Open Banking Tracker.
48 providers
BaaS (Banking-as-a-Service)
Regulated banking infrastructure via APIs: accounts, deposits, cards, and payments for non-banks.
View providers →55 providers
Embedded Card Issuing
Branded debit, credit, and prepaid programs with virtual / physical cards and digital wallet provisioning.
View providers →102 providers
Embedded Payments
Payouts, marketplace payments, and merchant services so platforms can offer payments without becoming processors.
View providers →34 providers
Embedded Lending
Working capital, B2B BNPL, invoice financing, and revenue-based financing via APIs.
View providers →15 providers
Embedded Payroll
Your platform becomes the payroll provider, powered by tax engines and money movement infrastructure you did not build.
View providers →8 providers
Embedded AP/AR
Invoicing, bill pay, and collections so vertical SaaS and marketplaces can offer finance automation.
View providers →1 provider
Embedded Collections & Recovery
Manage overdue receivables through APIs, accounting integrations, and regulated collection workflows.
View providers →10 providers
Expenses & Spend Management
Corporate cards, expense policies, and reconciliation so platforms can embed spend controls.
View providers →1 provider
Embedded Billing
Usage metering, subscription billing, invoicing, and entitlements via APIs for native billing.
View providers →14 providers
Ledger-as-a-Service
Programmable ledgers, payment operations, and money movement infrastructure for fintechs.
View providers →11 providers
Embedded FX & Cross-Border
Multi-currency accounts, international payouts, and hedging via APIs for global payments.
View providers →49 providers
Embedded Compliance (KYC/KYB)
Identity verification, AML screening, and fraud decisioning via APIs for onboarding and compliance.
View providers →8 providers
Embedded Insurance
Distribute coverage at the point of transaction so platforms can offer policies without underwriting.
View providers →1 provider
Embedded Connectivity
Mobile plans, business phone numbers, and eSIM directly inside apps. No extra device, one bill.
View providers →1 provider
Embedded Benefits
Health, retirement, commuter, and wellness benefits distributed inside HR and payroll platforms via APIs.
View providers →Foundational layer
19 providers
Financial Data Connectivity
The pipes the other 15 categories run on — Plaid, TrueLayer, Tink, Codat, Apideck, Merge, Finch. Foundational layer.
View providers →Why take the survey?
Get the full report first
Survey participants get early access to the complete 2026 State of Embedded Finance report when it ships.
Benchmark your category
See where your build-vs-buy decisions, pricing, and geographies sit relative to peers across all 16 categories — including the connectivity layer underneath.
Influence the agenda
Your responses determine which trends, regulations, and providers get the deepest treatment in the report.
No vendor pitch
The survey is editorial. Aggregate data only — no sales follow-up unless you opt in to be contacted.
Who should take the survey?
- Embedded finance providers. BaaS, card issuing, payments, lending, payroll, compliance, insurance vendors
- Platforms & vertical SaaS. Buyers evaluating embedded finance partners or building products on top
- Banks & sponsor banks. BIN sponsors, charter holders, and partner banks distributing through APIs
- Investors & analysts. Fintech VCs, M&A teams, and equity research covering embedded finance
Ready to contribute?
5 minutes, aggregate data only, early access to the report.
Frequently asked questions
Who runs the State of Embedded Finance 2026 survey and report?
The 2026 State of Embedded Finance report is produced by Apideck. Open Banking Tracker contributes the underlying directory of 250+ embedded finance providers across 15 product categories plus the foundational financial-data-connectivity layer (Plaid, TrueLayer, Codat, Apideck, Merge, Finch, et al.) that the report draws from. The survey is hosted on SurveyMonkey.
How long does the survey take to complete?
About 5 minutes. The survey covers your role, which embedded finance categories are most relevant to you, build-vs-buy decisions, and the providers you have evaluated or shipped with.
Which 15 embedded finance categories does the report cover?
BaaS, card issuing, embedded payments, embedded lending, embedded payroll, embedded AP/AR, collections & recovery, expenses & spend management, embedded billing, ledger-as-a-service, embedded FX & cross-border, embedded compliance (KYC/KYB), embedded insurance, embedded connectivity, and embedded benefits.
Will the report cover specific providers like Marqeta, Unit, Stripe Treasury, Galileo, or Solaris?
Yes. The report draws from a directory of 200+ providers including BaaS leaders (Unit, Treasury Prime, Synctera, Swan, Solaris, Griffin), card issuers (Marqeta, Lithic, Highnote, Galileo, Thredd), embedded lending (Kanmon, Parafin, Defacto), and compliance (Alloy, Persona, Middesk). You can browse the full directory on Open Banking Tracker.
When will the 2026 State of Embedded Finance report be published?
The report will be published once survey responses are gathered and analyzed in 2026. The exact release date is announced by Apideck on the report page. Subscribe via the survey to be notified.
Is the survey free to take? Are responses anonymous?
Yes — the survey is free and open to anyone working in or adjacent to embedded finance. Responses are aggregated for the report; identifying details are kept confidential per the survey privacy notice.