내재화금융(Embedded Finance)에 대한 규제상 주요 과제

Recently, there has been a growing interest in embedded finance, which refers to the integration of financial services into non-financial platforms and applications. This phenomenon is fueled by the surge in demand for convenient, seamless, and tailored financial solutions that can be accessed at any time and from any location. By incorporating financial services, such as payments, lending, insurance, and wealth management, directly into their existing products or services, companies are able to leverage embedded finance to provide their customers with an all-inclusive experience. This article provides an examination of embedded finance, a concept that has gained significant attention in recent times, along with relevant overseas cases. The integration of financial services into non-financial platforms and applications has the potential to streamline financial activities for users, allowing them access all services through a single online application. However, despite the potential benefits of embedded finance, existing financial regulations are inadequate to address the convergence of financial institutions and non-financial companies. Therefore, regulatory measures that align with the current trend are essential. While embedded finance can enhance consumer convenience and financial inclusion, it also raises concerns regarding consumer protection and the monopolization of Big Tech companies. As such, it is necessary to recognize these concerns and adopt preemptive measures to minimize side effects while promoting financial innovation for consumer benefits. This article proposes regulatory measures for embedded finance as following: proportionally regulating buy-now-pay-later (BNPL) services, implementing a small license scheme, facilitating supports for financial product intermediaries, and institutionally enhancing to curb unfair competition.