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Thanks to what is known as “embedded finance”, 2022 will be the year that any organization can become a financial-services company. To achieve this, firms will seek to provide their customers with banking and financial capabilities, including the typical bank offerings such as online payments, investment products, bank accounts, insurance and loans. We know of the big technology companies’ moves into this area, but in 2022, that capability will be extended to all sectors.
There will also be an impact on the world of B2B commerce, where the complexity around escrow, invoice financing, payments and foreign exchange create significant barriers to online adoption. With most of these offerings now available via APIs, companies – whether marketplaces or SaaS platforms – are offering increasing functionality to their customers, who are keen to have a simple and comprehensive solution to their financial needs.
https://www.wired.co.uk/article/non-banking-brands?stream=top
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