Maast, an US-based embedded finance fintech, has unveiled new embedded finance solutions aimed at independent software vendors (ISVs) and software providers. The solutions are meant to attract new customers, increase revenue per customer, and deepen existing customer relationships by integrating payment acceptance, banking solutions, and more into their platforms under their brand.

The move comes as embedded finance, the integration of financial products within non-financial software applications, is increasingly becoming a core software component, the press release states. According to Bain & Company, embedded finance accounted for USD 2. 6 trillion or 5% of total US transactions in 2021, a figure that is expected to grow to over USD 7 trillion or 10% of all US transactions by 2026.

Maast believes that embedded finance only starts with payments and should include the entire money movement value chain across payments and banking. By partnering with Maast, software providers will reportedly have access to new revenue streams, a faster go-to-market strategy, and the ability to offer small and medium-sized business owners (SMBs) a better payment acceptance experience and a more modern business checking account. Maast will reportedly improve integrations and support software providers in managing funding, underwriting, compliance, security, and customer support, the company states.

More about Maast Maast reportedly provides the potential for brandable payment and banking onboarding and money movement experiences. This capability could result in an easier, faster onboarding experience, money movement, and reconciliation. SMBs can follow the money end-to-end with a brand they know and trust – their software provider, the press release continues.

According to the company, software providers can now offer their customers digital business checking accounts that are entirely brandable. Features include a contactless Visa debit card, online banking, a mobile app, cash flow and budgeting insights, banking and tax statements, user role and card management, and secure email or in-app customer support messaging. Money movement capabilities include bill pay, peer-to-peer, account-to-account, mobile deposits, 24-hr ATM access, as well as in- and out-bound ACH.

SMBs can also access open, no minimum deposits, no bill pay fees, and unlimited deposits while being FDIC insured up to USD 250,000 per depositor by Synovus Bank. Maast is currently set for general availability in the summer of 2023, and software providers interested in exploring this new solution can schedule a demo at maast. com.

Maast is a subsidiary of Synovus Bank, Member FDIC, and offers software providers a built-in bank sponsor, FDIC insurance, and a proven risk, compliance, and regulatory framework. Maast is powering BillingHound and CheckingHound, two solutions offered as part of the new ClerkHound Software Suite, the official press release concludes. .