6% and Counting: The State of Stablecoin Merchant Acceptance
A Wave Of Acceptance Interest 1. C2B Acceptance Stablecoins Activity Timeline in 2025 (selected; non-exhaustive)
Embedded Lending – A Key Growth Opportunity for Fintechs and Platforms
A panel discussion on embedded lending and its massive upside potential. Banks continue to underserve SMB demand, SaaS platforms are in a strong position to monetize, and fintechs are well-positioned to fill gaps in market supply.During the session, we defined the market, illustrated key growth opportunities and use cases, discussed operating model options, and explored […]
Q4 2025 SaaS and Fintech Earnings Observations
SaaS + fintech share prices have come under pressure in recent months due to rising fears of AI-led disruption. However, recent fundamentals paint a positive picture with continued top-line growth and margin expansion. Ultimately, we believe the AI opportunity for many leading SaaS companies outweighs the potential risks. See our Q4 2025 earnings observations below […]
Flagship Market Monitor: Credit Issuing Q4 2025
Credit products are adapting quickly as issuers and fintechs respond to shifting consumer preferences, competitive pressure from BNPL, and evolving digital commerce behavior. Experimentation with new credit products has accelerated in recent years, ranging from installment-first cards and ecosystem-driven co-brands, to AI-driven underwriting and embedded credit in everyday payment flows. While new products and redesigns […]
Credit Card Issuing Industry KPIs Q4’25
Underwriting Discipline Continues to Hold Credit Losses at Bay The fourth quarter of 2025 showed stabilization in the recent upward credit loss trend in bank credit performance, while portfolio growth remained intact despite mounting signs of consumer fragility. As non-credit card-focused banks demonstrated improving chargeoff stability and sustained risk appetite, credit card-focused banks continued to […]
Will AI Kill the B2B Software Industry?
The software industry is panicking as bears latch onto the theme of AI disrupting the software industry, assuming that AI will be able to develop custom code that is superior or lower cost. Investors are clearly spooked, the flight from software equities has been bloody as we illustrate in Figure 1 below. We agree that […]
Webinar: Stablecoins Go Mainstream
A panel discussion on the stablecoin landscape with Ben Brown (Partner, Flagship Advisory Partners), Nabil Manji (SVP, Head of Fintech Growth & Financial Partnerships, WorldPay), Ali Heiring (Director of Corporate Strategy, MoneyGram), and Ben Reynolds (SVP, Head of Big Business Banking, SoFi). Together, we explored how stablecoins are being applied across consumer and B2B payments, […]
What Happened to PayPal?
The recent replacement of PayPal’s CEO after only two years in the role has sparked passionate discussion on what caused the decline of the original fintech unicorn. While, in retrospect, there have been some real missteps, we believe the more interesting question is what PayPal could yet become. Despite a decade of strategic drift, the […]
Middle East: An Upcoming Fintech Growth Engine
Fintech in the Middle East is no longer emerging – it is scaling. Strong capital inflows, rising consolidation, and regulatory tailwinds are accelerating growth across payments, wallets, lending, and digital banking. We advise viewing the slides via the “PDF” icon button. ‹ › Key Highlights: Fintech funding has accelerated and a new cohort of regional […]
Embedded Fintech Vertical Snapshot: Accommodation Property Management
As part of our ongoing vertical series on vertical SaaS and embedded finance, we profile the accommodation property management segment, which is relatively mature in embedded payments acceptance but offers significant growth opportunities across broader embedded finance.