Embedded Finance Review Podcast, episode 7. Published 27 August 2024. Guest: Ankit Singh, co-founder of Vaya Technologies. Host: Lars Markull.
Lars Markull: Welcome to the Embedded Finance Review podcast. My name is Lars Markull. In this episode I am speaking with Ankit Singh. Ankit is the co-founder of Vaya Technologies. Vaya enables vertical SaaS companies to drive product adoption with embedded lending products. Previously, he was a volunteer of the Indian non-profit tech organisation iSPIRT, where he was involved in the introduction of OCEN, a framework for embedded lending in India.
In this podcast I am speaking with Ankit about the Indian and the US approach towards embedded lending, and where he thinks the biggest opportunity for embedded lending lies.
What embedded lending means
Lars Markull: Hi Ankit, welcome to the podcast. How are you doing today, and whereabouts in the world are you right now?
Ankit Singh: Lars, great to see you. I'm in New York City, and doing great.
Lars Markull: That's great to hear. Ankit, we're going to speak a lot about embedded lending in this podcast. You're the founder of Vaya Technologies, a company exactly in this space in the US. On top of it, you have been involved in the embedded lending framework in India. We will speak about that quite a bit later on as well. But maybe to start with, can you give us a little bit of your own perspective on what defines embedded lending, and how does it differentiate from more traditional lending?
Ankit Singh: Sure. The traditional definition of embedded lending has been to offer lending services inside non-financial products or services. This is different from direct lending in the sense that a customer doesn't have to go to a traditional financial institution like a bank to access credit anymore, but can instead access it from the software they use to run their business or sell their products and services, right?