What counts as a material embedded finance partner
Materiality is not only spend. Customer impact, regulatory exposure, and substitutability matter more.
Field notes
Short writing from oversight engagements — materiality, monitoring, and exit readiness.
When partner attestations do nothing
Annual questionnaires feel like control. They are not, unless someone challenges answers against evidence.
Exit clauses before you launch embedded lending
The hardest oversight work happens after a partner relationship sours. Write the exit while goodwill remains.