B2B BNPL: Încorporarea băncilor în lanțul de aprovizionare (Sandeep Nambiar)

Fintechs today own the growing B2B Buy Now Pay Later space entirely, and control 10-15% of the overall supply chain finance market. It’s time for banks to embed themselves deeper in the supply chain.

Fintech-enabled B2B buy now pay later (BNPL) has garnered much attention since last year. Embedded within the payments experience of merchant to merchant transactions, B2B BNPL is collateral-free, short-term credit, that is solving the critical problem of
access to supply chain finance, especially for micro, small and medium enterprises (MSMEs).  

The repayment terms that the fintech platforms offer vary vastly across industries, ranging from a fortnight to a year. But the critical underlying innovation of the B2B BNPL is the seamless, completely digital credit-risk assessment model that makes it
posibil.

Factori ai oportunității B2B BNPL

The widening trade finance gap is a significant factor in the renewed focus on B2B BNPL. The global trade finance gap reached USD 1.7 trillion in 2020, 10% of global trade volume. This is especially harsh on MSMEs as the financing rejection rates for this
segment stand at 40%; a 2017 World Bank study found that about 65 million such businesses are credit constrained. With MSMEs playing an increasingly important role in overall global trade, there is a clear need for alternative and digitally-delivered supply
chain finance solutions that can address access and risk modeling for MSME businesses.

In terms of enablers, the accelerated growth in global B2B e-commerce is a strong tailwind for B2B BNPL, with transactions valued at USD 6.9 trillion in 2021. The sector is expected to expand at 18.7% CAGR between 2022 and 2028, touching USD 25.65 trillion
by 2028. Rapid adoption of digital tools by SMEs is another powerful enabler. According to OECD’s Global Business Surveys, 70% of SMEs have accelerated their use of digital technologies post-COVID. This fast paced digitalisation of SMEs is helping fintechs
roll out alternative credit-assessment models based on access to business data such as buyers’ previous purchases, vintage payments history, cash flow, and other consumer data points.

Exhibit 1 depicts the factors contributing globally to the growing B2B BNPL opportunity, which fintechs entirely own today. Banks traditionally offered supply chain finance products; however, B2B BNPL is not yet their native capability as they lack automated
credit decisions and embedded experience capabilities. As of last year, McKinsey reports that fintechs have pulled away annual revenues worth USD 8 to 10 billion from traditional lenders, controlling about 10-15% of the supply chain finance (SCF) market.

În acest articol, înțelegem de ce B2B BNPL reușește ca produs și care sunt unele dintre mișcările pe care băncile le fac la nivel global pentru a păși pe această piață.

Ce este rezolvarea B2B BNPL condusă de fintech?

According to a recent Barclays report, 3 out of 5 SMEs currently face late payments on their invoices, leading to cash constraints and weighty issues in the underlying cash flow. Studies further indicate that cash flow challenges kill almost 50% of SMEs
within the first five years of inception. The Association of British Recovery Professionals stated, “over a fifth of corporate insolvency is the result of delayed payments for goods and services.”

Several experts have evaluated why traditional supply chain finance (SCF) solutions cannot address this access and risk assessment challenge regarding SMEs. For one, many SCF providers still focus on larger corporates and recurring, big-ticket purchases.
It precludes smaller, less well-financed companies from attempting to access such solutions. 

Most SCF solutions are yet to implement innovations like APIs, which could open up access to buyer data and thus enable better risk assessments. This critical step can help make financing options cheaper and more accessible. In many scenarios, less than
50% of the total spend is eligible for financing with traditional risk assessment, with the actual uptake being just 60-70% of this amount. 

Un alt aspect este că doar câteva entități financiare bancare și nebancare posedă în prezent expertiză SCF cuprinzătoare și acces la procesele interne. Acest lucru, la rândul său, restricționează accesul la finanțarea lanțului de aprovizionare pentru întreprinderile cu conturi în aceste instituții.  

Fintech-urile au înțeles aceste provocări. Acestea se concentrează pe rezolvarea accesului și a unei mai bune evaluări a riscului de credit pentru întreprinderi prin următoarele metode:

• Încorporarea accesului la opțiunile de finanțare la punctul de cumpărare; de exemplu,
  Resolve din SUA, a B2B spin-off from consumer BNPL provider Affirm, allows merchants to embed ‘net terms invoicing,’ a buy-now-pay-later option as part of their check-out process. Buyers using the option are redirected to the Resolve portal for onboarding
  or signing in. Resolve assures a ‘quiet credit check’ of the buyers’ creditworthiness within hours.

• Valorificarea soluțiilor fintech, cum ar fi agregarea conturilor, taxele electronice și facturarea electronică pentru a rezolva complexitățile legate de integrare, subscriere și plăți;
  Billie din Berlin offers B2B buyers BNPL options for all their business-related expenses. Buyers can create a profile on the Billie Buyers’ portal and track all their expenses and payments. When checking out their purchases at any merchant
  site that offers the Billie BNPL option, buyers can check out with real-time customer verification.

• Deciziile de credit automate și continue, bazate pe accesul la datele financiare și de afaceri ale cumpărătorilor, istoricul creditului, istoricul plăților și multe altele;
  Furnizorul european B2B BNPL Hokodo efectuează o verificare în timp real a creditului și a fraudei în timp ce cumpărătorii fac cumpărături pe platforma comerciantului. La check-out, cumpărătorilor li se prezintă doar opțiunile pentru care sunt calificați. 

Un alt beneficiu al B2B BNPL este acela de a permite IMM-urilor subțiri să creeze profiluri de credit mai bune, atâta timp cât efectuează rambursări BNPL în timp util.

Cum pot băncile să adopte B2B BNPL?

Banks have natural advantages of access to low-cost capital and the necessary regulatory infrastructure in place when it comes to supply chain finance. Several global banks have taken note of the B2B BNPL disruption, and have entered into partnerships with
fintechs or launched their solutions for this space (Exhibit 2).

Deutsche Bank a colaborat cu fintech Credi2 pentru a lansa un produs BNPL cu etichetă albă pentru comercianții online și piețele de comerț electronic din Germania.
Raisin Bank, cunoscută pentru soluțiile sale Banking-as-a-Service (BaaS), lucrează deja cu plățile B2B.
Datoria mea pentru a oferi soluții BNPL concentrate comercianților B2B, în timp ce
HSBC și-a deschis API-urile B2B BNPL în China continentală. API-urile permit companiilor să încorporeze ofertele B2B BNPL ale creditorului pe platformele lor de comerț electronic, făcând accesul la credit mai rapid și mai ușor.

În calitate de BANKINGSTACK, permitem băncilor să adopte capabilități B2B BNPL în două modele: 

• ca opțiune de punct de plată încorporată în contul bancar digital al cumpărătorului și

• ca opțiune de finanțare pe factură de achiziție, disponibilă furnizorilor dornici să acceseze plăți imediate pentru comenzile de achiziție. 

În ambele cazuri, modelul de evaluare a creditului de bază este cel care acționează ca un factor esențial. În comparație cu modelele tradiționale de evaluare a riscurilor, motorul de credit BANKINGSTACK poate oferi băncilor următoarele capacități:

• Automated credit assessment with minimal or zero documentation requirements can help in faster credit disbursal to businesses. Credit assessment depends mainly on direct access to business data like aggregated balances, sales, purchase orders, inventory,
  receivables, payables, payment history, order delivery status, and many other factors. BANKINGSTACK also integrates with accounting systems used by end-user’s to get direct access to past and current business data.

• Evaluare mai solidă a creditului decât modelul tradițional, deoarece motorul monitorizează un număr mai semnificativ de variabile și poate efectua evaluări continue despre cum și când va afecta capacitatea de rambursare a cumpărătorului.

• Evaluarea adaptativă a creditului, cu evoluția performanței afacerii sau tendințele de stabilitate, se reflectă prin modificări ale limitelor de credit sau ale termenilor de rambursare oferite cumpărătorilor. Poate crea modele optimizate mai bine decât modelele tradiționale și reactive de evaluare a creditului.

• Utilizarea taxelor bazate pe utilizare, așa cum se vede în cardurile de credit, ajută companiile să proceseze mai multe comenzi, crescând rotația stocurilor, controlând în același timp costurile globale de finanțare.

A B2B pharma marketplace for manufacturers, distributors, and retailers recently partnered with a leading Indian bank to embed our B2B BNPL solution on their platform. This solution allows retailers access to collateral-free credit basis on their cash flow
and exclusive benefits from distributors on the platform. It sometimes includes access to 15-day interest-free credit on billing periods and long-duration low-interest rates.   

Banks can embed themselves into the heart of the customer’s trade for corporate banking customers while enhancing their overall lending play. B2B BNPL also helps banks access high-growth, thin-filed businesses in a low-risk context. Finally, data shows that
B2B BNPL has had an exponential growth impact on merchants, delivering several improvements in conversions and order volumes. By becoming a key driver for this growth, banks can position themselves advantageously in an increasingly fragmented market. 

Referinte:

1. https://www.adb.org/news/global-trade-finance-gap-widened-17-trillion-2020
2. https://www.mckinsey.com/industries/financial-services/our-insights/reconceiving-the-global-trade-finance-ecosystem
3. https://www.businesswire.com/news/home/20211203005471/en/The-Global-B2B-E-Commerce-Market-Size-is-Estimated-to-Reach-USD-25.65-Trillion-Expanding-at-a-CAGR-of-18.7-from-2021-to-2028.—ResearchAndMarkets.com
4. https://www.oecd.org/industry/smes/PH-SME-Digitalisation-final.pdf
5. https://www.mckinsey.com/industries/financial-services/our-insights/buy-now-pay-later-five-business-models-to-compete
6. https://www.prove.com/blog/how-fintech-modernizes-sme-supply-chain
7. https://home.barclays/news/press-releases/2022/01/three-in-five-uk-businesses-are-owed-money-from-late-payments–f/
8. https://www.prove.com/blog/how-fintech-modernizes-sme-supply-chain
9. https://www.mckinsey.com/~/media/mckinsey/industries/financial%20services/our%20insights/accelerating%20winds%20of%20change%20in%20global%20payments/chapter-3-supply-chain-finance-a-case-of-convergent-evolution.pdf
10. https://www.pymnts.com/bnpl/2022/deutsche-bank-partners-with-credi2-to-pilot-white-label-bnpl-product/
11. https://www.pymnts.com/news/b2b-payments/2022/today-in-b2b-raisin-bank-teams-mondu-bnpl-tool-small-businesses-need-ecommerce-insurance/
12. https://develop.hsbc.com/api-overview/trade-finance-b2b-buy-now-pay-later