Banking Circle Group asked industry experts about their predictions and expectations for 2022. Which trends will continue? Will emerging innovation reach the mainstream? What are the opportunities and challenges for which the banking and payments industry should be preparing?
The year for the full B2B finance stack
Søren Mogensen, Chief Growth Officer, Banking Circle, believes 2022 is going to see renewed energy from banks and payments businesses as they stake their claim in the e-commerce space.
“What we expect to see in 2022 and beyond is the evolution of the ecosystem strategy by payments businesses and banks, as they rebundle financial services to deliver full solution stacks to meet the demands of the ever-growing online merchant marketplace.
“The emergence of new and alternative payment methods is also going to change the shape of B2B finance. For example, the buy now, pay later [BNPL) proposition that has widely gained pace in the retail space is likely to gain traction in more use cases, such as in B2B, subscriptions, travel, pet care and much more. And we expect the move towards account-to-account payments to materialise significantly, as Request to Pay [RtP] and the liquidity aspects of open banking proliferate.