SAP Fioneer , a global provider of financial services software solutions and platforms, has launched a B2B embedded finance platform, Fioneer Embedded Finance-as-a-Service (EFaaS). The platform seeks to facilitate orchestration between SAP users and Financial Service Institutions (FSIs), reportedly allowing them to connect and develop innovative embedded finance solutions tailored to the specific needs of their corporate clients in a centralised platform, the company states.

Embedded finance seems to become increasingly important, not just for the financial services industry, but to the wider economy. The service places a financial product in a non-financial business process, client journey, or ecommerce platform, accounting for USD 2. 6 trillion of total US financial transactions in 2021.

Its total value is expected to exceed USD 7 trillion globally by 2026, according to Bain Capital. The Managing Director, Banking at SAP Fioneer said that by bridging the gap between banks and their corporate clients, they are enabling financial institutions to better serve the needs of a digitised trade environment and stand out in a highly competitive environment. With the platform, banks can now directly connect to their clients' ERP system processes, bringing the two closer together.

SAP Fioneer’s EFaaS capabilities can reportedly be deployed to support various use cases, such as Buy Now, Pay Later (BNPL), Request to Pay (R2P), Purchase Order Finance, and Invoice Finance. These offerings allow businesses to embed financial solutions into their business operations, create better transaction flows, increase cash flow visibility, and reduce costs, according to the official press release. The CEO of SAP Fioneer said that businesses seek seamless banking experiences in their B2B transactions and end-to-end processes.

Embedded finance offers new possibilities for managing complex business models in a digitised, data-driven commerce environment. The launch of the EFaaS platform addresses these challenges, showcasing an ability to provide reliable financial technology in a scalable, adaptable, and open platform, the executive concluded. SAP Fioneer's EFaaS platform is expected to revolutionise the way businesses manage their financial operations, providing better banking experiences and improving the overall efficiency of B2B transactions.

The launch of the B2B embedded finance platform is expected to have far-reaching implications for the financial services industry, as businesses seek to capitalise on the benefits of embedded finance, the press release concludes. More about SAP Fioneer In May 2022, Global automated paytech company COMO selected SAP Fioneer’s Cloud for Banking (C4B) application to allow COMO’s customers access to rich core banking functionality, while enabling real-time payment transactions and reducing costs by up to 60% for corporates. In June 2022, the Bank of London, a clearing, agency, and transaction bank, teamed up with SAP Fioneer to simplify global clearing and transaction banking.

In March 2023, SAP Fioneer launched the Fioneer Financial Control solution to minimise accounting costs. .