← Embedded Finance Index 2026/Vendor

Swan

Provider
Embedded PaymentsBaaSCard IssuingFX / PayoutsKYCOpen BankingSponsor Bank

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 25 companies across 7 categories.

swan.com ↗Also analysed as a company — its own stack →Open Banking Tracker profile ↗
CategoriesEmbedded Payments, BaaS, Card Issuing, FX / Payouts, KYC, Open Banking, Sponsor Bank
Rank#15 of 322 in BaaS
Buyers25 companies
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In the press
embeddedfinancereview.com ↗
Coverage of Swan sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
◇ article2026-06-09
HERO embeds with Swan, ryd embeds with Mastercard & more
HERO launches HERO Wallet with Swan, ryd embeds fleet payments with Mastercard, plus why German banks lose €1bn a year in remittances.
Source · Embedded Finance Review ↗
◇ article2026-06-08
HERO Software launches HERO Wallet with Swan for German craftsmen
HERO Software launches HERO Wallet with Swan, embedding payments and reconciliation directly into craft business software in Germany.
Source · Embedded Finance Review ↗
◇ article2026-01-02
Swan Launches Belgian IBAN Accounts as Sixth Local Market
Swan launches Belgian IBAN accounts, now offering local IBANs across six European markets. Existing customers like Accountable likely drove this.
Source · Embedded Finance Review ↗
◇ article2023-11-16
Fleming launches bank account and debit card for medical professionals with Swan
German fintech Fleming partners with Swan to launch bank account and debit card, expanding its vertical fintech offering for medical professionals.
Source · Embedded Finance Review ↗
Who uses Swan
25 companies disclose Swan in their stack
AgicapFlemingRegional HeroPennylaneCashfeedCarrefourLuccauRydeHERO SoftwareGoDutchAxonautDefacto+13 more
Buyer mix · 25 of 25 classified
Vertical SaaS / Accounting · 5Horizontal SaaS / Accounting · 2Horizontal SaaS / Spend Management · 2Vertical SaaS / Real Estate · 2E-commerce / Retail · 1Fintech / Lending · 1Fintech / SMB banking · 1Horizontal SaaS / Accounts Payable Automation · 1
EU · 24
What the disclosures say
Agicap
“Pay by Link article: 'requires integration with Swan, a European payment service provider' for EUR collections.”
Fleming
“Swan publicly lists Fleming as a customer at https://www.swan.io/customers. Swan provides BaaS/embedded banking infrastructure including accounts, IBANs, and card issuing to European platforms.”
View source · swan.io ↗
Regional Hero
“Swan publicly lists Regional Hero as a customer (known_customer_listings TIER 1).”
Cashfeed
“Help pages footer: 'Payment services for the Cashfeed Business Account are provided by Swan, an Electronic Money institution and Payment institution offering payment services under French law, approved by the ACPR under number 17328.' Cashfeed offers 1-click payment runs from within its AP product.”
Carrefour
“Swan publicly lists Carrefour as a customer (swan.io/customers — TIER 1 known customer listing).”
uRyde
“Swan publicly lists uRyde as a customer (known_customer_listings).”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Swan? Claim this profile above to unlock your own full list.
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Alternatives to Swan

Other BaaS providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Evolve Bank & Trust70 buyers →Sutton Bank63 buyers →Cross River55 buyers →Pathward48 buyers →Unit44 buyers →ClearBank38 buyers →Thread Bank32 buyers →Backbase30 buyers →
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Ranked #15 of 322 in BaaS — Embedded Finance Index 2026
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