Why AI is pushing software companies toward embedded finance

2026-06-28 · Jane Podbelskaya

The seat is under pressure. For two decades, software priced by the seat — more users, more revenue. AI breaks that link: a single operator with AI leverage now does the work of five, so seat counts stop climbing even as the software gets more valuable.

That forces a question every software CEO is starting to ask: if we can’t grow on seats, where does the next revenue curve come from? The most credible answer for vertical software is embedded finance — earning on the payments, lending, cards, and payroll that already flow through the product.

This is a placeholder essay in the new Journal. It exists to prove the read-me tier works end to end; Jane will replace it with the real piece.