Financial Well-being | Embedded Wealth Management and its Opportunities

Employees usually gettheir payroll via HR system. With the interface to the HR system, companies can offer employees an employee financial well-being package. FIs and TPPs also benefit from this, as it is an opportunity generate an additional revenue stream serving a broader spectrum of clients.

Casal, Michel, 2022

Art der Arbeit Bachelor Thesis
Auftraggebende CORE SE
Betreuende Dozierende Ters, Kristyna
Keywords Open Banking, Embedded Finance, Embedded Wealth Management
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The aim of this work is to find out how to build a wealth management tool that connects to an HR system. Currently, everyone who wants to take care of their finances has to take care of the research to different possible partners individually and by partner. With our idea of building an Employee Financial Wellbeing Tool using APIs to TPPs and FIs, we can offer added value for employees, employers, TPPs and FIs. Open banking is gradually establishing itself in Switzerland and worldwide and according to various studies and success stories already recorded, there is immense potential.
The thesis is divided into several main parts. They serve to deepen the understanding of Open Banking and to show that Embedded Wealth Management offers to improve Employee Financial Wellbeing. The market potential is evaluated using studies and reports to describe the opportunity in Embedded Wealth Management for Employee Financial Wellbeing in detail. Moreover, different partners were sought according to selected criteria in the thesis and personas were created to illustrate using case studies how this tool could be implemented and how it benefits all participating parties.
On the basis of what has been discovered, one can now assess the possible monetisable opportunity for such an Embedded Wealth Management Tool. Partners who stand out from the competition due to their IT-specific expertise such as Smile or VermögensZentrum were selected as possible partners for insurance, Findependent or Selma for investments, and MoneyPark, Flatfox and / or IAZICIFI for mortgages and real estate and real estate valuations were selected. A first user interface was designed, and the registration process was described accordingly. Subsequently, the tool was tested on the basis of case studies and the first improvements in terms of financial wellbeing can already be seen in the personas created. The customer journey and customer acquisition process of Third Party-Providers and Financial Institutions was essentially simplified. Furthermore, it was determined which components, such as API management, consent management and an identity platform, are important in order to be able to implement such a tool accordingly, which risks are concealed behind it, and it was presented in which way the partners draw a benefit from the Embedded Wealth Management Tool.
Studiengang: Business Administration International Management (Bachelor)
Vertraulichkeit: vertraulich
Art der Arbeit
Bachelor Thesis
CORE SE, Berlin
Autorinnen und Autoren
Casal, Michel
Betreuende Dozierende
Ters, Kristyna
Sprache der Arbeit
Business Administration International Management (Bachelor)
Standort Studiengang
Open Banking, Embedded Finance, Embedded Wealth Management