BaaS News #6 - March
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A monthly exploration of embedded payments, Banking-as-a-Service and fintech ecosystem, as well as practical use cases.
This newsletter's sections:
?? Automation, A2A, BaaS: the payment trends in 2024
?? Retailers: Maximize business opportunities with BaaS
?? French Corner : One to One Monaco & TID
1. BaaS & Fintech news
Payment trends in 2024
In a constantly evolving financial world, characterized by accelerated digitization and new regulations, companies navigate this digital shift and try to leverage it to optimize their practices. The pursuit of efficiency and savings becomes crucial, while technological developments continue to transform the payments landscape. LexisNexis recently published its forecasts for the main payment trends in 20241, and it’s full of insights that naturally resonate with this context.
A significant trend for 2024 is the automation of payment processes, aiming to reduce costs and improve efficiency. Indeed 90% of decision-makers state that payment operations are sources of problems for their company2, and 75% of business leaders plan to invest in process and system automation3.
Many tools can enable these automations, depending on the objective and the business: automating incoming payments, invoice reconciliation, or customer refunds... Regardless, these automations will ultimately allow for quicker detection of suspicious payments, reduce human errors, and increase productivity for businesses.
Account-to-account payments (A2A) are on the rise. Facilitated by open banking and APIs, this payment method is faster and less costly than SEPA or payment cards payments, and is expected to grow significantly in the years ahead, according to
LexisNexis . This trend goes hand in hand with the growth of digital payments on a global scale (wallets, instant e-commerce payments...)
Synctera's successful fundraising round of $18.6 million proves that the Banking-as-a-Service sector is in good shape. Synctera plans to utilize the funds for international expansion, aiming to attract foreign firms seeking U.S.-based services.
Read the article?: https://www.fintechnexus.com/fintech-nexus-newsletter-march-4-2024-baas-is-not-dead-synctera-raises-18-6-million/)
Indeed, the rise of Banking as a Service (BaaS) offers new opportunities for companies looking to offer banking services without directly managing accounts. This approach could open up new markets and serve as a response to the growing competition from fintech companies. The expected value of the Banking-as-a-Service market is nearly $66 billion by 2030.
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2.?? Insights & analysis
As we jot down these words, our Xpollers team, including Jean Guillaume , Jacques-Olivier Schatz , Guillaume Maigre , Rémi Puissant & Amandine Caurier , is currently at the forefront of the retail and e-commerce scene in Monaco, attending the One to One E-Business event. It's a prime opportunity to dive deep into the benefits of Banking-as-a-Service for these industry players.
Retailers: Maximize Business Opportunities with Banking-as-a-Service
In an era where retailers and brands are putting extra effort into building lasting relationships with their customers, embedded payment has become a key driver of growth and engagement.
Embedded payment enables retailers to offer a seamless payment experience for the consumer while simplifying and ensuring the reliability of internal teams in payment management. Virtual Payment Cards, Instant Transfers, Mobile Wallet Payments: these innovations directly align with acquisition, retention, and customer satisfaction strategies.
Embedded payments seamlessly achieve conversion goals, encompassing everything from collecting payments from your customers to processing refunds. Particularly for B2B and recurring payments, where card payments might not be the most suitable option, BaaS facilitates the straightforward integration of dependable, immediate, and secure card alternatives directly into our partners' business information systems.
3. French Corner
C'était juste hier ! L' AFTE | Treasury Innovation Day organisé par l' AFTE au Pavillon Dauphine à Paris. Pour cette première édition, Xpollens associait son expertise à celle de Capgemini pour présenter les innovations technologiques qui disruptent toute la cha?ne de valeur de la Finance. Parmi elles?: les IBAN virtuels pour un suivi en temps réel des paiements, le rapprochement automatique des factures, et l’optimisation des reportings.
à 14h00, avec la participation de Yann Leclerc de 凯捷咨询 , Jordane Giuly de Defacto , Jean-Daniel Guyot de Memo Bank et Jean Guillaume de Xpollens , la table ronde dédiée à l'innovation et à "Ces nouveaux acteurs qui bousculent l'écosystème des trésoriers" faisait salle comble, avec au centre des échanges :
- les nouveaux besoins et cas d'usage des trésoriers
- les nouvelles technologies financières qui y répondent
- les solutions over the top pour évoluer sans tout changer
- l'instantanéité en passe de devenir la nouvelle normalité
- la flexibilité opérationnelle
- la simplicité d'intégration
Envie d'explorer le futur de la trésorerie ? Plongez-vous dans le nouveau Livre Blanc d'Xpollens en partenariat avec Capgemini "Optimiser la fonction Finance en 2024 : comment automatiser vos flux et vos comptes ?".
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