New research from ClearBank reveals that large UK businesses now view embedded financial services as a strategic boardroom decision and business growth driver.

The research, ‘The embedded economy: Why brands are embracing financial services as a driver for innovation and growth’ explores the attitudes of 200 senior business leaders at large UK-based corporates towards embedded finance and the potential for payments, accounts, and lending to enable new services, new revenue streams, and enhanced customer loyalty.

It found that despite growing enthusiasm for embedded finance’s potential to deliver these services, many companies are still held back by fears of regulatory requirements, technical complexity, and ongoing concerns around finding the right partner to deliver at scale.

A Boardroom Priority: Nearly Half of Corporates see Embedded Finance as a Revenue Driver

Implementing embedded finance has rapidly moved from a niche innovation to a strategic boardroom decision. Survey results found that 38% of C-suite leaders cite embedded finance as important for their company’s growth, reflecting the shift in mindset from viewing it as a back-office payments tool to a driver of competitive advantage.

Crucially, nearly half (48%) of corporates surveyed see embedded finance as a way to improve payments and launch new revenue-generating services. These services range from offering own brand accounts to saving tools and lending services. For many, the potential increase in revenue is compelling, with more than a quarter (28%) of the view that embedded finance could help drive double-digit revenue growth for their business. 67% believed growth would be at least 5% and just over a third (39%) suggest between 5-10% of revenue growth.

“Embedded banking allows businesses to integrate payments, lending and account services directly into their customer propositions. For corporates, this is a real opportunity to create stronger relationships with customers while also building new and potentially significant revenue streams for the business. We believe we’re on the cusp of the embedded economy.

“For any business looking to remain competitive in the digital age, these services can no longer be seen as ‘add-ons’. They are becoming essential infrastructure to deepen customer loyalty and open new revenue streams.

“We see this shift first-hand through the financial services clients already embedding our infrastructure. That experience gives us a clear view of how the same approach can be applied to corporates more widely and why embedded finance is such a significant opportunity across industries.”

Emma Hagan, ClearBank UK CEO

Cross-Sector Growth:  Companies Across Consumer Products & Services, Retail and Healthcare Have Biggest Appetite for Embedding Financial Services

Although embedded finance has often been associated with the retail sector, interest is broadening across other sectors. Research found that appetite was highest in consumer products and services (23%), retail (20%) and healthcare (18%), with the likes of the payroll and travel industries increasingly seeing the potential to integrate financial services into their customer journeys.

Of those companies surveyed that said they are actively considering offering embedded financial services within their own platforms, payment services were most considered (16%), followed by insurance (13%) and lending (13%). This signals a structural change in non-financial companies as they look to add layers of value and deepen engagement and loyalty with customers.

Untapped Potential: Only 19% Have launched Embedded Finance Services – Challenges Slowing progress

While appetite for embedded finance is growing rapidly, adoption is still maturing. Three-quarters (75%) said they would offer embedded finance today if it were easy to implement. This gap between ambition and reality underlines the perception that embedded finance is still typically difficult to employ and highlights the need for a new type of partner to tackle practical obstacles before broader uptake can occur.

When asked about the challenges corporates faced, some firms pointed to the technicalities of setting up such an offering in terms of integration challenges (61%), regulatory compliance (49%) and lack of technical expertise (44%)

Beyond the technical barriers, businesses also flagged reputational and regulatory risks such as greater regulatory scrutiny (57%), a loss of customer trust (52%) with reputational damage if the service fails (65%).

Taken together, these figures highlight that while embedded finance is seen as a major growth opportunity, corporates remain cautious. Success will depend not only on demonstrating the revenue potential but also on reducing risks during implementation through providing trusted infrastructure, regulatory clarity, and a smooth integration path that allows businesses to move from intent to action with confidence.

The Benefits & Motivations: Convenience & Customer Loyalty

For many corporates, embedded finance is first and foremost about strengthening customer relationships. Over half of firms 63% highlighted the opportunity to deliver a more seamless and convenient experience, positioning embedded finance as a customer service differentiator as much as a commercial driver. A further (57%) saw offering embedded services as a way of improving customer loyalty through creating more frequent and valuable touch points.

“Traditional banks we have found, give you a good brand halo and risk expertise but the cycles are killing us. They are slow, the integrations are not really bespoke and the slower cycle of development and keeping up to track with regulation has been the problem consistently.” (spokesperson from consumer industries)

About the Report

Ronin conducted interviews with  30 Senior Business Leaders at UK-based organisations across technology, healthcare, consumer, retail, travel, energy, and utilities sectors, along with surveying 200 Senior Business Leaders on the evolving nature of payment strategies, with a particular focus on the role of embedded finance in enabling new services and revenue streams. The interviews took place over August and September 2025.