Daily Tearsheet: Retailers don't really 'get' embedded finance, and synthetic financial data may open new opportunities – Tearsheet – Tearsheet

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For retailers, embedded finance solutions are still confusing
Embedded finance is growing in popularity, and many are looking to implement financing solutions to their business. But there are two sides to the coin – some believe that embedding financial solutions can bring great value to a business, while others are more skeptical over what embedded finance could really offer.
Retail is a large market opportunity for embedded finance solutions, and within retail, e-commerce is growing fast.
As the market expands, competition intensifies, pushing merchants to look for new ways to attract and retain customers. Embedded finance could be a strategy that drives up revenue, loyalty and retention, but it’s still a nascent idea. 
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Data Snack: Opportunities in generating synthetic financial data
While data can be exceptionally useful for analytics and strategizing, mismanaging access to it can lead to significant security risks for both organizations and consumers.
Personally Identifiable Information poses a challenge for organizations, who generally want to retain as much detail as they can, without exposing customers to privacy risks.
One solution is synthetically generated data, which mimics real data sets but does not hold any PII. Moreover, synthetic data circumvents the labor and costs attached to data collection and organization, allowing teams to develop algorithms faster and with less red tape.
Tune into our Data Day Conference on the 21st of June to find out more about how data is changing the fintech landscape. 
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International remittances: A money movement lifeline ripe for digitization
By Ruben Salazar Genovez, Global Head Visa Direct, Visa
The challenges associated with sending money to family far away are personal to me. I’ve emigrated to several countries during my career. In each new place, one of my first big questions was how to send money home to El Salvador. The answer has been different, and often challenging, each time.
And while digital transformation is simplifying how people move money internationally and removing the physical barriers of traveling to a location to receive money, in many ways, the remittance process has remained basically unchanged for 150 years.
In honor of International Day of Family Remittances, Visa shares four tips for how policymakers can better streamline digital remittances.
Read more (sponsored by Visa)
Marketing Briefing: Pride, sonic branding, and customer service
As it is now, users want more personalized, digital-first services. And for the garden of FIs still struggling to cut through outdated daisies and legacy lilies, that presents a challenge.
But companies are putting their money where their shears are. And that’s being reflected in the investments they’re making. Still, other spaces remain surprisingly light in funding attention.
In short, financial institutions may need to shift their priorities just a teeny-tiny bit. As more consumers open their bank accounts through digital channels, they’ll need more help with the navigating side of things.
In other news, Danielle Venne, evp, executive music producer and director of innovation at Made for Music, answers some questions about building Amex’s sonic brand.
Read more (exclusive to Outlier members)
1. How open banking APIs could improve efficiency
Source: David Jimenez Maireles
2. List of 300+ digital banks
SourceRex Salisbury
PayPal expands BNPL offering with ‘Pay Monthly’
The new service allows users to break down their purchase into monthly payments over a 6 to 24-month period (TechCrunch)
Mastercard develops open banking initiative
Mastercard is expanding its Start Path startup program with the introduction of a scheme focused on open banking (Finextra)
Upstart, CFPB think outside the fintech sandbox
The mutual split between AI-driven lender Upstart and the Consumer Financial Protection Bureau offers a look inside the agency’s fast-evolving approach to fintech (protocol)
Betsy Cohen has been smashing glass ceilings for decades, and she’s not slowing down
Betsy Cohen, a lawyer, financier, and entrepreneur, is a prolific dealmaker in the wild world of SPACs — since 2016, Cohen and partners have raised over $4.2 billion across 13 SPAC listings, with six mergers completed to date (Forbes)
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