Hi Embedded Finance Friend
We are back! On April 15th, we are hosting our 9th (!) Embedded Finance Review Event in Berlin. It's the third time we are hosting an event during FIBE (Fintech Berlin Conference), but this time we are an official side event.
Big thanks to Marqeta, Visa and YouLend for supporting us! I will drop more details about the event in the coming weeks. But keep one thing in mind: last year we had 180 guests, and tickets were 'sold out' more than one week in advance, so don't wait too long ;-)
And now let’s dive in 👇
Airbnb Takes Reserve Now, Pay Later Global After Strong US Results
What happened: Airbnb expands Reserve Now, Pay Later globally ++ Over 70% adoption among eligible US bookings since August 2025 ++ No credit, no lender, no financial partner involved
Airbnb has expanded its Reserve Now, Pay Later feature globally after strong US results since last August. Despite the name, this isn't a traditional BNPL product: there's no credit, no installments and no third-party lender involved. Guests delay full payment until before the free cancellation window closes, meaning Airbnb carries no meaningful credit exposure and needs no financial partner to build it. The feature solves a real friction point for group travel and high-value bookings, and the CFO credited it with driving longer booking lead times and a shift toward larger properties.
Read the full story on Embedded Finance Review
Why ConnectPay Chose to Build Its Core Banking System From Scratch
What happened: Lithuanian BaaS provider ConnectPay launches an in-house core banking system ++ Replaces third-party vendor dependency ++ Follows similar move by Solaris in 2021
Lithuanian BaaS provider ConnectPay has completed the migration to Mars, a proprietary core banking system built entirely in-house, replacing its dependency on a third-party vendor. Most fintech companies source core banking from specialists like Mambu or Tuum for good reason: it is faster and cheaper upfront. But for a BaaS provider at scale, the account fees charged by its core banking providers act as a cost floor; any pricing offer the BaaS makes to a potential customer will be higher. Especially for enterprise deals, this can be a limiting factor. Internal development costs do not grow at the same rate as account volumes, and owning the core changes the unit economics of running a BaaS platform.
Read the full story on Embedded Finance Review
Wrisk Acquires Atto to Add Credit Intelligence to Automotive Embedded Insurance
What happened: Wrisk acquires open banking credit platform Atto ++ Wrisk powers motor insurance for BMW, Volvo, Mercedes-Benz, and Jaguar Land Rover ++ Deal brings insurance and credit decisioning under one integration
UK-based embedded insurance provider Wrisk, which powers motor insurance programmes for BMW, Volvo, Mercedes-Benz and Jaguar Land Rover, has acquired Atto, an open banking credit intelligence platform. The deal brings credit scoring and affordability assessment into the same layer as Wrisk's existing insurance distribution, reducing the number of integrations automotive brands need to manage. The combination isn't an obvious one, but the case is essentially operational: fewer providers and fewer contracts mean fewer dependencies.
Read the full story on Embedded Finance Review
In other Embedded Finance news
- Mastercard and Visa pilot agentic payments with banks: Both networks are running pilots with banks to enable AI agents to autonomously initiate and authorise payments on behalf of users. The tests focus on how existing card infrastructure can support agent-to-agent commerce without requiring new rails. (Finextra)
- ClearBank appoints former Uber executive as EU CEO: ClearBank has hired Bjorn Gooss, previously at Uber, to lead its European expansion. The appointment signals an acceleration of ClearBank's push into continental European markets. (FF News)
- Wayflyer secures $250 million to fund SMB lending: Irish embedded lending platform Wayflyer has raised $250 million from Atlas to expand its revenue-based financing offer for small businesses. (PYMNTS)
- NoCFO partners with Salt Edge for pay-by-bank in Finland and Germany: Digital accounting provider NoCFO has integrated with open banking provider Salt Edge to enable pay-by-bank payments for entrepreneurs in Finland and Germany, adding account-to-account payments directly into the invoicing workflow. (The Paypers)
- Visa and Banqup partner on EU e-invoicing compliance: Visa and Belgian fintech company Banqup have teamed up to help businesses meet the EU's incoming mandatory e-invoicing requirements, combining Banqup's invoicing infrastructure with Visa's payment network. (The Paypers)
That's it for this edition. If you enjoy my newsletter, podcast, or events, the best way to support me is to share them with others in your network. Feedback is always welcome, too.
Need help with an embedded finance project? Visit my website and let's talk.
Best wishes from Berlin,
Lars Markull (LinkedIn)
