Powering Embedded Finance for B2B

In the new PYMNTS eBook, “What’s Your Plan? Payments Strategies for a Strong 2022 Finish,” Galileo Financial Technologies CRO Seth McGuire discusses the strength and growth of embedded finance.

Embedded finance has evolved at lightning speed and is estimated to grow to a $7.2 trillion market by 2030. This growth was set by B2C embedded financial experiences, and B2B businesses are quickly following the trend.

We are seeing increased adoption from B2B businesses that want to build a digital journey to meet customers where they are. But they need more streamlined, integrated solutions to get there.

New research just released from Juniper Research and Galileo shows 63% of U.S. B2B businesses are offering some form of embedded finance solution today. And a majority of these business leaders — 85% — are familiar with embedded finance, making it clear this financial technology has quickly become a mainstream B2B strategy.

Our research shows businesses are using embedded finance to support their top KPIs and solve for key business pain points. These include using this financial technology to create new, innovative ways to attract and retain customers, and addressing cash flow management and revenue growth challenges.

These business leaders are telling us they want to replicate consumer payments experiences in B2B environments, but they recognize that additional complexities must be addressed. Today, most B2B businesses are using two or more providers to tackle these challenges. That adds endless complications and bumpy handoffs from one vendor to another.

Galileo is addressing both of these challenges through an API-first platform that enables businesses to deliver embedded finance solutions that are modeled on B2C learnings on successful digital experiences, but adjusted to reflect the needs and complexities of the B2B world. And because Galileo is an open and connected financial technology platform with a single point of integration, we can easily help businesses remove unnecessary layers — and the complexity they create.

As use cases for B2B embedded finance continue to rapidly expand in Q4, we are focused on providing business leaders with the platform, solutions and expertise they need to get to implement embedded finance solutions quickly and efficiently.