EBAday 2026: BankiFi warns banks risk losing corporate payments relationships to third parties

Banks are currently facing a wake-up call regarding how they serve business owners. Traditional banks often focus too much on being the 'vault' where money sits, rather than the tools used to collect it. This shift means that third-party fintech providers are stepping in to handle the actual payment interactions you have with your customers. For retailers and operators, this trend is beneficial because it creates more competition. You no longer have to rely on a legacy bank’s clunky interface to process consumer payments or financing. Instead, specialized providers are integrating payment collection directly into accounting software and point-of-sale systems. The message for your business is clear: the technology you use to collect money is becoming more important than the bank where you keep it. If your current bank doesn't offer seamless, 'embedded' payment options that talk to your other software, you have more leverage than ever to look elsewhere. Open banking is making it easier for tech companies to bypass traditional bank workflows. This reduces friction at the checkout counter and helps your cash flow hit your account faster. Expect to see more 'all-in-one' platforms that combine your business banking with your customer financing and payment processing tools.

Source: Finextra — Lending

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