In Europe, financial institutions focus on distributed development and seek to integrate their services at a different, deeper level. They are encouraged to do so by open banking development.
At the same time, the UK market is known for the requirement of obligatory user consent for any data processing. In this context, fintech products need to clearly show their value to the user.
In 2021−2023, the trend of embedded finance development will lead to lower marketing and branding costs for traditional banks since aggressive promotion will not be necessary. As a result, some banks can become truly invisible.