Demystify Podcast: Demystifying embedded banking with Paul Staples
In this podcast, Dave and Dharm’s guest is Paul Staples, an expert on embedded finance and, until recently, head of embedded banking services for HSBC.
We hear Paul’s story about how he ended up working with HSBC to build its embedded banking capability – literally starting over four years ago with post-it notes on a wall and ending up with the Oracle NetSuite transaction in the US after building an entire Banking-as-a-Service (BaaS) edge layer for the bank.
He then helps us demystify why financial institutions are looking at BaaS and the approaches various banks are taking, such as Standard Chartered, JP Morgan Chase, and HSBC. He talks about why banks with their licences are so well placed to capture market share. He then explains the technology implications and why tech is ultimately not the only answer to building out embedding banking capabilities with a partner, as it requires true collaboration across the business.
Paul also provides excellent insight into why it is the chief product officers, chief strategy officers, chief growth officers, and chief customer officers of brands are most interested in building out embedded banking propositions, seeing an opportunity to use financial products to build customer loyalty.
Take a look at the full catalogue of episodes on the Dave & Dharm Demystify Podcast homepage.
