Embedded Finance Statistics 2026

Embedded finance dataset statistics 2026

The Embedded Finance Index 2026 analyzes the public infrastructure stacks of 6,631 fintech and embedded-finance companies (Embedded Finance Index, October 2026). Details →
7,080 distinct third-party infrastructure vendors are linked to the 6,631 companies in the Embedded Finance Index, through company disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →

Embedded finance disclosure rates by stack layer 2026

45.8% of fintechs publicly name their payment service provider (3,039 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
22.8% of fintechs publicly name their Banking-as-a-Service provider (1,510 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
16.0% of fintechs publicly name their sponsor bank (1,058 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
15.4% of fintechs publicly name their open banking or financial data provider (1,019 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
12.7% of fintechs publicly name their lending partner (841 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
11.6% of fintechs publicly name their FX or payouts provider (769 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
11.6% of fintechs publicly name their card-issuing provider (766 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
6.7% of fintechs publicly name their KYC or identity vendor (443 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
4.3% of fintechs publicly name their insurance partner (286 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
2.5% of fintechs publicly name their payroll provider (164 of 6,631 companies analyzed) (Embedded Finance Index, October 2026). Details →
1.2% of fintechs publicly name their fraud-prevention vendor (82 of 6,631 companies analyzed) (Embedded Finance Index, October 2026).
Fintechs are 2.4× more likely to disclose their sponsor bank than their KYC vendor, making compliance the least-disclosed layer of the embedded-finance stack (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their payments stack, 31.8% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their Banking-as-a-Service stack, 38.3% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their sponsor bank stack, 6.1% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their open banking and financial data stack, 7.5% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their lending stack, 43.6% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their FX and payouts stack, 28.6% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their card issuing stack, 38.6% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their KYC and identity stack, 3.8% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their insurance stack, 26.4% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →
Of fintechs that disclose anything about their payroll stack, 39.6% name only an own-brand product rather than the underlying provider (Embedded Finance Index, October 2026). Details →

Banking-as-a-Service (BaaS) providers: market share 2026

Evolve Bank & Trust is the most-named Banking-as-a-Service (BaaS) provider, linked to 67 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named Banking-as-a-Service (BaaS) providers are Evolve Bank & Trust (67), Sutton Bank (61), Cross River (56), Pathward (47) and ClearBank (35), by number of linked companies (Embedded Finance Index, October 2026). Details →
166 Banking-as-a-Service (BaaS) providers are linked to two or more companies, across 1,779 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 Banking-as-a-Service (BaaS) providers account for 15.0% of all documented Banking-as-a-Service (BaaS) provider relationships (Embedded Finance Index, October 2026). Details →

Card-issuing platforms: market share 2026

Marqeta is the most-named card-issuing platform, linked to 66 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named card-issuing platforms are Marqeta (66), Stripe Issuing (30), Enfuce (24), Paymentology (23) and Sutton Bank (21), by number of linked companies (Embedded Finance Index, October 2026). Details →
98 card-issuing platforms are linked to two or more companies, across 878 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 card-issuing platforms account for 18.7% of all documented card-issuing platform relationships (Embedded Finance Index, October 2026). Details →

Card networks: market share 2026

Visa is the most-named card network, linked to 352 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named card networks are Visa (352), Mastercard (312), American Express (48), Verve (24) and Discover (22), by number of linked companies (Embedded Finance Index, October 2026). Details →
13 card networks are linked to two or more companies, across 798 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 card networks account for 95.0% of all documented card network relationships (Embedded Finance Index, October 2026). Details →

Payment service providers (PSPs): market share 2026

Stripe is the most-named payment service provider (PSP), linked to 675 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named payment service providers (PSPs) are Stripe (675), Adyen (295), PayPal (146), Checkout.com (99) and Worldpay (83), by number of linked companies (Embedded Finance Index, October 2026). Details →
420 payment service providers (PSPs) are linked to two or more companies, across 5,914 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 payment service providers (PSPs) account for 21.9% of all documented payment service provider (PSP) relationships (Embedded Finance Index, October 2026). Details →

Embedded payments providers: market share 2026

Stripe Connect is the most-named embedded payments provider, linked to 134 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded payments providers are Stripe Connect (134), Mangopay (26), Worldpay for Platforms (18), Rainforest Pay (16) and Forward (8), by number of linked companies (Embedded Finance Index, October 2026). Details →
14 embedded payments providers are linked to two or more companies, across 248 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded payments providers account for 81.5% of all documented embedded payments provider relationships (Embedded Finance Index, October 2026). Details →

Open banking and financial data API providers: market share 2026

Plaid is the most-named open banking and financial data API provider, linked to 289 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named open banking and financial data API providers are Plaid (289), Apideck (60), Salt Edge (58), MX (55) and GoCardless (53), by number of linked companies (Embedded Finance Index, October 2026). Details →
85 open banking and financial data API providers are linked to two or more companies, across 1,326 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 open banking and financial data API providers account for 38.8% of all documented open banking and financial data API provider relationships (Embedded Finance Index, October 2026). Details →

Embedded payroll and earned wage access providers: market share 2026

Gusto Embedded is the most-named embedded payroll or earned wage access provider, linked to 38 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded payroll and earned wage access providers are Gusto Embedded (38), Check (22), Salsa (16), ADP (9) and Remote (7), by number of linked companies (Embedded Finance Index, October 2026). Details →
16 embedded payroll and earned wage access providers are linked to two or more companies, across 179 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded payroll and earned wage access providers account for 51.4% of all documented embedded payroll or earned wage access provider relationships (Embedded Finance Index, October 2026). Details →

Embedded lending providers: market share 2026

Affirm is the most-named embedded lending provider, linked to 60 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded lending providers are Affirm (60), Klarna (51), YouLend (41), Stripe Capital (32) and wisetack (21), by number of linked companies (Embedded Finance Index, October 2026). Details →
115 embedded lending providers are linked to two or more companies, across 1,172 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded lending providers account for 17.5% of all documented embedded lending provider relationships (Embedded Finance Index, October 2026). Details →

Embedded insurance providers: market share 2026

Cover Genius is the most-named embedded insurance provider, linked to 33 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded insurance providers are Cover Genius (33), Qover (12), Sure (9), Coverdash (7) and Zego (7), by number of linked companies (Embedded Finance Index, October 2026). Details →
41 embedded insurance providers are linked to two or more companies, across 404 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded insurance providers account for 16.8% of all documented embedded insurance provider relationships (Embedded Finance Index, October 2026). Details →

FX and cross-border payouts providers: market share 2026

Currencycloud is the most-named FX and cross-border payouts provider, linked to 74 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named FX and cross-border payouts providers are Currencycloud (74), Airwallex (72), Nium (66), Wise Platform (59) and Stripe (57), by number of linked companies (Embedded Finance Index, October 2026). Details →
89 FX and cross-border payouts providers are linked to two or more companies, across 1,029 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 FX and cross-border payouts providers account for 31.9% of all documented FX and cross-border payouts provider relationships (Embedded Finance Index, October 2026). Details →

KYC and identity verification vendors: market share 2026

Sumsub is the most-named KYC and identity verification vendor, linked to 41 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named KYC and identity verification vendors are Sumsub (41), Onfido (34), Persona (34), Veriff (32) and Stripe (32), by number of linked companies (Embedded Finance Index, October 2026). Details →
52 KYC and identity verification vendors are linked to two or more companies, across 599 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 KYC and identity verification vendors account for 28.9% of all documented KYC and identity verification vendor relationships (Embedded Finance Index, October 2026). Details →

Embedded tax providers: market share 2026

Avalara is the most-named embedded tax provider, linked to 17 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded tax providers are Avalara (17), Vertex (8), TaxJar (8), Stripe Tax (5) and Anrok (4), by number of linked companies (Embedded Finance Index, October 2026). Details →
10 embedded tax providers are linked to two or more companies, across 68 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded tax providers account for 61.8% of all documented embedded tax provider relationships (Embedded Finance Index, October 2026). Details →

Accounting connectors: market share 2026

QuickBooks is the most-named accounting connector, linked to 808 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named accounting connectors are QuickBooks (808), Xero (495), NetSuite (326), Sage (148) and Sage Intacct (134), by number of linked companies (Embedded Finance Index, October 2026). Details →
386 accounting connectors are linked to two or more companies, across 5,522 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 accounting connectors account for 34.6% of all documented accounting connector relationships (Embedded Finance Index, October 2026). Details →

Transaction enrichment providers: market share 2026

MX is the most-named transaction enrichment provider, linked to 14 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named transaction enrichment providers are MX (14), Dateio (9), Astrada (6), Spade (4) and Plaid (3), by number of linked companies (Embedded Finance Index, October 2026). Details →
7 transaction enrichment providers are linked to two or more companies, across 63 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 transaction enrichment providers account for 57.1% of all documented transaction enrichment provider relationships (Embedded Finance Index, October 2026). Details →

Embedded crypto and stablecoin providers: market share 2026

Fireblocks is the most-named embedded crypto and stablecoin provider, linked to 30 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named embedded crypto and stablecoin providers are Fireblocks (30), Zero Hash (26), Circle (22), Bridge (16) and BitGo (14), by number of linked companies (Embedded Finance Index, October 2026). Details →
41 embedded crypto and stablecoin providers are linked to two or more companies, across 380 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 embedded crypto and stablecoin providers account for 28.4% of all documented embedded crypto and stablecoin provider relationships (Embedded Finance Index, October 2026). Details →

Treasury management providers: market share 2026

Modern Treasury is the most-named treasury management provider, linked to 39 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named treasury management providers are Modern Treasury (39), Brex Treasury (34), Stripe Treasury (17), TreasurUp (9) and Brex (4), by number of linked companies (Embedded Finance Index, October 2026). Details →
14 treasury management providers are linked to two or more companies, across 225 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 treasury management providers account for 45.8% of all documented treasury management provider relationships (Embedded Finance Index, October 2026). Details →

Ledger infrastructure providers: market share 2026

Modern Treasury is the most-named ledger infrastructure provider, linked to 35 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named ledger infrastructure providers are Modern Treasury (35), Formance (12), Mambu (11), Layer (7) and Temenos (7), by number of linked companies (Embedded Finance Index, October 2026). Details →
15 ledger infrastructure providers are linked to two or more companies, across 139 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 ledger infrastructure providers account for 51.8% of all documented ledger infrastructure provider relationships (Embedded Finance Index, October 2026). Details →

Accounts receivable providers: market share 2026

Dolfin is the most-named accounts receivable provider, linked to 6 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named accounts receivable providers are Dolfin (6), Waystar (2), centime (2), Kriya (1) and Clearnox (1), by number of linked companies (Embedded Finance Index, October 2026). Details →
3 accounts receivable providers are linked to two or more companies, across 34 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 accounts receivable providers account for 35.3% of all documented accounts receivable provider relationships (Embedded Finance Index, October 2026). Details →

Spend management and AP providers: market share 2026

Brex is the most-named spend management and AP provider, linked to 39 companies through their public disclosures and provider customer lists (Embedded Finance Index, October 2026). Details →
The 5 most-named spend management and AP providers are Brex (39), BILL (35), Ramp (25), Pliant (18) and Stripe (16), by number of linked companies (Embedded Finance Index, October 2026). Details →
40 spend management and AP providers are linked to two or more companies, across 373 documented relationships (Embedded Finance Index, October 2026). Details →
The top 5 spend management and AP providers account for 35.7% of all documented spend management and AP provider relationships (Embedded Finance Index, October 2026). Details →

Embedded finance statistics by region 2026

2,459 of the 6,631 companies in the Embedded Finance Index (37.1%) are headquartered in the US (Embedded Finance Index, October 2026). Details →
Stripe is the most-named payment service provider among fintechs headquartered in the US, linked to 367 companies (Embedded Finance Index, October 2026). Details →
Sutton Bank is the most-named Banking-as-a-Service provider among fintechs headquartered in the US, linked to 48 companies (Embedded Finance Index, October 2026). Details →
Evolve Bank & Trust is the most-named sponsor bank among fintechs headquartered in the US, linked to 73 companies (Embedded Finance Index, October 2026). Details →
1,193 of the 6,631 companies in the Embedded Finance Index (18.0%) are headquartered in the EU (Embedded Finance Index, October 2026). Details →
Stripe is the most-named payment service provider among fintechs headquartered in the EU, linked to 101 companies (Embedded Finance Index, October 2026). Details →
Swan is the most-named Banking-as-a-Service provider among fintechs headquartered in the EU, linked to 28 companies (Embedded Finance Index, October 2026). Details →
Solarisbank is the most-named sponsor bank among fintechs headquartered in the EU, linked to 7 companies (Embedded Finance Index, October 2026). Details →
658 of the 6,631 companies in the Embedded Finance Index (9.9%) are headquartered in the UK (Embedded Finance Index, October 2026). Details →
Stripe is the most-named payment service provider among fintechs headquartered in the UK, linked to 64 companies (Embedded Finance Index, October 2026). Details →
ClearBank is the most-named Banking-as-a-Service provider among fintechs headquartered in the UK, linked to 24 companies (Embedded Finance Index, October 2026). Details →
Cross River is the most-named sponsor bank among fintechs headquartered in the UK, linked to 6 companies (Embedded Finance Index, October 2026). Details →
557 of the 6,631 companies in the Embedded Finance Index (8.4%) are headquartered in Latin America (Embedded Finance Index, October 2026). Details →
Adyen is the most-named payment service provider among fintechs headquartered in Latin America, linked to 13 companies (Embedded Finance Index, October 2026). Details →
551 of the 6,631 companies in the Embedded Finance Index (8.3%) are headquartered in APAC (Embedded Finance Index, October 2026). Details →
Stripe is the most-named payment service provider among fintechs headquartered in APAC, linked to 60 companies (Embedded Finance Index, October 2026). Details →
Nium is the most-named Banking-as-a-Service provider among fintechs headquartered in APAC, linked to 7 companies (Embedded Finance Index, October 2026). Details →
Yes Bank is the most-named sponsor bank among fintechs headquartered in APAC, linked to 6 companies (Embedded Finance Index, October 2026). Details →
457 of the 6,631 companies in the Embedded Finance Index (6.9%) are headquartered in Africa (Embedded Finance Index, October 2026). Details →
Paystack is the most-named payment service provider among fintechs headquartered in Africa, linked to 16 companies (Embedded Finance Index, October 2026). Details →
Backbase is the most-named Banking-as-a-Service provider among fintechs headquartered in Africa, linked to 5 companies (Embedded Finance Index, October 2026). Details →
218 of the 6,631 companies in the Embedded Finance Index (3.3%) are headquartered in MENA (Embedded Finance Index, October 2026). Details →
Adyen is the most-named payment service provider among fintechs headquartered in MENA, linked to 11 companies (Embedded Finance Index, October 2026). Details →
206 of the 6,631 companies in the Embedded Finance Index (3.1%) are headquartered in Canada (Embedded Finance Index, October 2026). Details →
Stripe is the most-named payment service provider among fintechs headquartered in Canada, linked to 39 companies (Embedded Finance Index, October 2026). Details →
Stripe Treasury is the most-named Banking-as-a-Service provider among fintechs headquartered in Canada, linked to 6 companies (Embedded Finance Index, October 2026). Details →

How to cite these statistics

Embedded Finance Index 2026, published by Apideck. October 2026. https://www.embeddedfinanceindex.com/statistics. Figures are recomputed from the live dataset as dossiers are added; quote the month alongside the number.