embedded

Founded by former Silicon Valley engineers, UK-based Griffin Bank bills itself as an API-driven ‘Banking as a Service’ platform. But Griffin isn’t likely to offer banking accounts directly to consumers, but to other businesses needing to offer embedded financial solutions such as savings accounts, safeguarding accounts and accounts for holding client money. Last year in North America, Treasury Prime secured a $40 million Series C, Synctera $15 million and Omnio raised $9.8 million. So they’re leveraging an existing financial relationship to bundle additional financial services in an embedded way. All of that needs to sit in specially marked bank accounts.” Griffin’s aim, he says is to pick up as much of that business as possible.