FinTech Magazine - July 2021 | Page 94

SPECIAL REPORT
before . The implications of this are farreaching and expansive , “ embedded finance isn ' t just in traditional finance anymore ; it ' s impacting all types of industries .” For instance , a recently released report from Rise helps characterise the positive changes that the trend can and is bringing to the music industry from the perspective of two companies , Kobalt Music and DICE . Corcoran explains : “ Kobalt helps artists define a basic financial framework to make it easier to predict their financial unknowns . DICE uses embedded finance to simplify and streamline the promotional and performative process , giving musicians access to a quick , seamless purchase system and helping fans discover gigs and artists via a personalised experience .”
Embedded finance is a powerful tool for placing the payment process firmly in the performer ’ s hands . “ There ' s real dissatisfaction within the current music
94 July 2021