The Orchestration Era of B2B Payments
The decade ahead belongs to platforms that route across bank rails, not platforms that pick one. What changes when multi-bank orchestration becomes the default, and why most middleware vendors will not survive it.
By 2030: One Human and One Agent
A falsifiable prediction about the B2B AP function. The agent runs settlement. The human handles exceptions. The losers are any platform that stops at workflow and never reaches the rail.
Authorization Without Identity
AI agents can initiate payments. The settlement layer still expects a person. Why this gap is about to become a payments infrastructure problem, and what gets built to close it.
What Blackstone Bought: An Operator's View of a $3B Healthcare Exit
An inside-the-room look at the data infrastructure that anchored the Emdeon exit. What diligence teams actually evaluate, what the buyer pays a premium for, and the operating decisions that compound into a billion-dollar acquisition price.
Why Healthcare AP is the Last Stronghold of Paper Checks
$1.7T moves between US health systems and their suppliers each year. The B2B AP function inside healthcare runs on print-and-mail at a rate the rest of the economy abandoned a decade ago. Why the friction is structural, and what breaks it.
The Operator Playbook: Three Companies, Two Exits
One repeatable pattern across Anthem/AIM, Change Healthcare, and Finexio. Find the friction in a regulated payment flow. Build the orchestration layer that abstracts the rail. Compound until the category bends.