SAP Fioneer, a leading global provider of financial services software solutions and platforms, has announced the launch of “Fioneer Embedded Finance as a Service” (EFaaS), the world’s first B2B embedded finance platform facilitating orchestration between SAP users and Financial Service Institutions (FSIs). The service allows FSIs to easily connect to SAP Enterprise resource planning (ERP) processes, enabling them to develop innovative embedded finance solutions tailored to the specific needs of their corporate clients in one centralised platform.

Embedded finance is becoming more important, not just for the financial services industry, but to the wider economy. By placing a financial product in a non-financial business process, client journey or e-Commerce platform, embedded finance accounted for $2.6 trillion of total US financial transactions in 2021. Its total value shall exceed $7 trillion globally by 2026.

Charlie Platt, Managing Director, Banking, at SAP Fioneer said: “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. With our platform, banks can now directly connect to their clients' ERP system processes, bringing the two closer together.”

SAP Fioneer’s EFaaS capabilities can be deployed to support a number of different 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 seamless transaction flows, increase cash flow visibility and reduce costs.

Dirk Kruse, CEO of SAP Fioneer, adds: “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 digitized, data-driven commerce environment. 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.”