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11:FS and Griffin join forces to bring the power of embedded finance to UK businesses

by uma
Editorial & Advertiser disclosure


New partnership will help UK companies build and launch financial products at speed 

UK BaaS (Banking as a Service) fintech firm Griffin and global FS OS (Financial Services Operating System) 11:FS Foundry announced a new partnership to help businesses actualise the benefits of embedded finance – the process of building new fintech products and embedding financial services directly into non-financial applications. The partnership will expand 11:FS Foundry’s current integrations, adding Griffin’s BaaS products. The two companies will also leverage their collective capabilities to shape the industry’s thinking and understanding of embedded finance through helpful content, allowing those looking to embed financial products to understand revenue opportunities, and how to serve their customers better. 

David M. Brear, Group CEO of 11:FS said: “11:FS and Griffin share a common passion for bridging the gap between modern technology and both legacy and challenger brands wanting to go to market quickly. The power of embedded finance opens up new and exciting opportunities for companies globally, and with this partnership, together, we can integrate, orchestrate and now create financial instruments in a truly digital way.

“I like businesses and products but I believe in people. The team at Griffin and 11:FS share a common view both in terms of what we do and the way in which we operate as a business.” 

Harnessing the power of embedded finance for non-banks 

Over 90 percent of non-financial companies in Europe plan on introducing financial services products (such as digital wallets, mobile bank accounts, or BNPL payment schemes) in the next five years. This approach increases customer engagement, strengthens loyalty, and provides new revenue streams in a volatile economic environment. 

However, those that enable embedded finance are often unable to innovate quickly due to a lack of resources, outdated technology systems, and long processes that come with working directly with legacy financial institutions. 11:FS and Griffin’s partnership will simplify the building and launching of financial products by allowing businesses to innovate faster without compromising security.

In light of this partnership, Griffin has also sponsored the Embedded FS Excellence category at the first-ever 11:FS Awards, to be held on 16th November 2022. The category celebrates businesses that are driving innovation by creatively solving real and novel customer problems with embedded finance. 

A powerful platform integration and future banking partner

Griffin’s ambitions to be the best banking partner for businesses will support customers that are often overlooked or underserved by incumbent banks.

Currently, Griffin has submitted its application to become a fully-licensed bank with the PRA and the FCA. Should it be successful, this partnership will enable Griffin to offer 11:FS Foundry customers the following: 

  • Operational current bank accounts to run their business.
  • Embedded customer accounts (specifically safeguarding and client money accounts) for regulated fintechs.
  • Access to the UK’s payment rails (Faster Payments, BACS, Direct Debit and CHAPS).
  • Access to Griffin’s first BaaS product, Verify, which helps fintechs manage risk, automate KYC and KYB checks, and streamline customer onboarding. 

David Jarvis, CEO of Griffin, said: “We are thrilled to be partnering with 11:FS to provide the BaaS backbone for a wide range of business models. While 11:FS is transforming fintechs and financial services from within and building truly digital financial services from scratch, our technology and this new partnership will bring the power of embedded finance to the companies that want it and the consumers that demand it.”

Griffin is developing the infrastructure to power the next wave of fintech innovation. Created by experienced Silicon Valley founder-engineers and led by a team of banking and technology experts, it recently closed a $15.5 million funding round led by Notion Capital. 


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