Hello Purple

South African financial services firm Purple Group has launched Hello Purple, a new division focused on embedded finance. The unit is expected to allow other businesses to integrate Purple's financial products and infrastructure directly into their own platforms, tapping growing demand for banking-as-a-service offerings. Details on partners, products and launch markets have not yet been widely reported.

Purple Group has launched Hello Purple, a new embedded finance division that packages the group's in-house financial technology as a service for fintech developers. The move lets other companies build Purple's banking and payments capabilities directly into their own products, and the announcement is drawing attention across the fintech and banking sector as embedded finance continues to grow as a business model.