Embedded finance for the digital economy
Dr Ozan Ozerk is the Founder of OpenPayd, but leaving his story there would be doing him a great disservice. He has served in the Norwegian Armed Forces, been a medical doctor, founded and sold one of Norway’s most successful social media platforms, and launched multiple fintech businesses.
In this episode of Fintech Rewired, Ozan talks to Iana about why businesses are considering embedded finance and how they can best go about it, while also trying to bribe his way to victory through offering extra days off.
Mike Townsend (Around The Coin) chats with Ozan Özerk, founder of OpenPayd. Ozan is a serial fintech entrepreneur. Trained as a medical doctor, Ozan’s entrepreneurial career seeds were sowed in the late 1990s during which time he successfully built and sold multiple tech businesses. In 2015, Ozan made the shift to the fintech industry which also marks the founding of OpenPayd, which provides businesses with easy access to banking and payment solutions to help them grow globally. As a pioneer of the fintech industry, Dr. Ozan Özerk frequently shares his thoughts and projections on the future of fintech through interviews and opinion pieces. He is excited by the innovation cryptocurrencies are bringing to the industry and often speaks and writes on the topic.
Ashley Blake: Can you give an overview of what embedded finance is and who are the key players?
Well embedded finance is basically where you take financial services and you integrate it into a product and our service which the consumer then consume. So as an example; if you’re a marketplace or an airline at some point in your journey you are collecting funds. You’re taking payment from your consumer and that part of the journey is quite friction full today. Basically there are a lot of events taking place in order for that transaction to take place so when you embed that product and service into your offering you reduce the friction and you increase the success rate of your transaction.