SAP Fioneer Launches B2B Embedded Finance Platform for Financial Institutions

SAP Fioneer has launched a B2B embedded finance platform for use by financial service institutions.

The new Fioneer Embedded Finance as a Service (EFaaS) provides a centralized platform that financial service institutions can use to develop embedded finance solutions tailored to the needs of their corporate clients, SAP Fioneer said in a Wednesday (March 22) press release emailed to PYMNTS.

“By bridging the gap between banks and their corporate clients, we are enabling financial institutions to better serve the needs in a digitized trade environment and stand out in a highly competitive environment,” SAP Fioneer Managing Director of Banking Charlie Platt said in the release. “With our platform, banks can now directly connect to their clients’ [enterprise resource planning (ERP)] system processes, bringing the two closer together.”

PYMNTS research has found that a meaningful share of executives from financial institutions (FIs) said that partnering with FinTech companies on payments digitization is a top characteristic needed to address B2B payments friction.

Thirty-one percent of the executives said this attribute is “very helpful” and 14% said it is “the most helpful,” according to “The Innovation Gap: Meeting the Challenge of Corporate Payments Modernization,” a PYMNTS and FIS collaboration.

The report also found that FIs need to focus on four specific innovation areas to better address clients’ B2B pain points: offering a centralized view of cash flow and liquidity; streamlining business user authentications; simplifying invoice reconciliation; and deploying speedier supplier and vendor onboarding tools that can rapidly scale with the addition of new businesses.

The new EFaaS from SAP Fioneer can support buy now, pay later (BNPL), request to pay (R2P), purchase order finance, invoice finance and other use cases, according to the press release.

With these capabilities, financial service institutions can help their corporate clients create seamless transaction flows, increase cash flow visibility and reduce costs, the release said.

“Embedded finance offers new possibilities for managing complex business models in a digitized, data-driven commerce environment,” SAP Fioneer CEO Dirk Kruse said in the release. “The launch of our EFaaS platform addresses these challenges, showcasing our ability to provide reliable, world-class financial technology in a scalable, adaptable and open platform.”

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