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2022 Money 20/20 Recap & Impressions
The Tern team was thrilled to attend a significantly bigger Money 20/20 event this past October! People were out in droves, and there was a real buzz around the Venetian / Bellagio corridor in Las Vegas. BNPL (Buy Now Pay Later) was a recurring theme from last year, with lots of new ideas all around. Banking as a Service (BaaS) providers had fewer booths on the floor, but there was definitely still a presence. Overall the need for embedded finance and payments is still strong and ever-growing.
“Fintech infrastructure has exploded. Usually, you hear about consumer fintechs and infrastructure players, but there’s a third layer we’re internally calling “infrastructure for infrastructure players”. These are infrastructure companies that provide other infrastructure companies WITH tools they can either embed, white label, or build on top of, in order to solve for specific use cases or verticals.
For example we recently launched a client that is a co-branded card issuer. They use our infrastructure to enable other brands and merchants to launch co-branded cards.
Several infrastructure players spoke to us at the event looking to launch:
- Neobank as a service
- Crypto cards as a service
- Loyalty cards as a service
- Credit card as a service
- Bill pay as a service
We expect we’ll see a lot more companies bundling up BaaS and issuer processor services in order to enable smaller fintechs to get to market quicker. - Lithic “Observations from Money20/20”
Below are links to some through recaps of the show:
Forbes has an article recapping M2020 claiming crypto is out and cross-border is in.
According to Finextra Money 2020 is the mainstay of the fintech event-season, and with over 11,500 attendees and 3,000+ companies
On a less shiny note, Insider Intelligence notes caution as markets are reacting to the impact of external factors like a shaky economic outlook, incoming regulation, and shifting customer demographics