Thomas Priore on the Future of Embedded Finance
Embedded finance is rapidly changing how businesses operate, and Thomas Priore is at the forefront of this transformation. As the CEO of Priority, Priore has championed the integration of financial services into non-financial platforms, creating seamless experiences for businesses and their customers.
“We focus on creating better payments and banking experiences through technology because cash flow and working capital are necessary to run a business well,” explains Priore. This approach has driven Priority’s growth, with the company processing more than $120 billion in annual transactions for over one million customer accounts.
Embedded finance goes beyond consumer-facing applications like Apple Pay or ride-sharing apps that incorporate payment processing. For businesses, it means integrating financial services directly into their operations, streamlining processes, and improving efficiency.
One example Priore cites is the construction industry, which has quickly adopted embedded financial tools to speed payments. “If I’m a larger project manager and I’m constructing a building or a parking garage or stadium, I’m seeking to use modern tools for payments to disperse money out to subcontractors,” he explains. “That’s an evolutionary step that’s becoming table stakes in construction management.”
Priority’s recent launch of Priority Capital, through an integration with Pipe, demonstrates the company’s commitment to embedded finance. This platform provides businesses with seamless access to growth funding based on their transaction data, converging payments, banking, and flexible funding options into one unified commerce experience.
With 4 major product categories addressing different aspects of business financial operations, Priority offers a comprehensive solution that helps companies of all sizes streamline their processes and improve their bottom line. By bringing together payments, banking, and capital access on a single platform, Thomas Priore has positioned Priority at the forefront of the embedded finance revolution.