Digital Banking
Mastercard partners with Fabrick for open embedded finance
June 12, 2023
Fabrick, an open finance company, has partnered with Mastercard to deliver embedded finance solutions to aid businesses, financial institutions and fintechs in Europe. The two companies have been working together on digital financial services since 2019, according to a press release.
With embedded finance, companies can integrate financial services into their products via API without building a proprietary financial infrastructure first. In particular, Fabrick's Open Finance platform offers embedded payments.
"We are glad to reinforce our collaboration with Fabrick, and value their great vision and model to face, govern and design the evolution of embedded finance, we think will be a big driver for development of digitization in the next years," Michele Centemero, country manager, Italy, Mastercard, said in the release. "Our work with Fabrick and the digital financial services we will develop together, will support our collective goal to offer digital payment solutions to businesses and to deliver a seamless experience for their customers in a time of need."
