Jeff Parker is the Senior Vice President at Marketa, leading the UK and European divisions. He has a diverse background in financial technology, having worked in traditional banks and investment banks before transitioning to the world of payments. Jeff has held various leadership roles in international payments businesses and has extensive experience in building and scaling fintech companies.

Jeff discusses the current market landscape for fintech businesses and the opportunities that arise from the challenges they face. He highlights the importance of embedded finance in providing seamless financial services within non-financial experiences. Jeff also shares his insights on the future of banking, the role of AI in financial services, and the potential for AI to improve efficiency and customer experience.

Key Takeaways:

• The way credit is assessed and the outdated criteria used by traditional banks often exclude individuals and businesses from accessing basic financial services.
• Embedded finance involves integrating financial services into non-financial experiences, creating a seamless user journey and enhancing brand value.
• Marketa serves as an infrastructure platform, enabling its partners to leverage embedded finance and provide tailored financial products and services to their customers.
• AI has the potential to improve efficiency and effectiveness in various areas of financial services, including credit underwriting, customer service, product development, and risk management.
• While AI may replace certain tasks, humans will still be needed to review outputs, derive insights, and take actions. New jobs will also be created as the economy evolves.