Citi
“Can a global banking institution become the embedded financial infrastructure layer for the world's largest corporations — spanning BaaS, cross-border payments, commercial cards, and point-of-sale financing?”
Founded as a commercial bank in 1812, Citi grew into one of the world's largest global banking institutions following the 1998 Citicorp-Travelers merger. Over the past decade, Citi has been pivoting its institutional business toward embedded finance infrastructure — offering Banking-as-a-Service, cross-border payments (WorldLink), commercial card programs, and the Spring by Citi ecommerce payment acceptance platform to corporate clients. On the consumer side, Citi Retail Services has moved into embedded point-of-sale financing via Citi Pay, directly competing with BNPL fintechs by embedding revolving credit and installment loans into merchant checkout flows.