There was a time when every fintech startup seemed to want to become the next digital bank. Philipp Buschmann saw a different opportunity.
Instead of competing for customers directly, he wanted to build the technology that would allow other businesses to offer financial products themselves. It was a decision that shaped AAZZUR from day one and one he still believes gave the business its biggest competitive advantage.
“The biggest decision we made early on was realising we did not want to build a neobank,” says Philipp. “Building a neobank is capital intensive and depends on constantly acquiring customers. Our strength was always technology.”
That shift in thinking transformed AAZZUR from another fintech startup into the infrastructure sitting behind embedded finance, helping businesses integrate banking, payments and financial products into their own customer experiences.
“Our partners keep the customer relationship. We become the technology powering it all.”
For Philipp, the decision was not about following market trends. It was about recognising where real value could be created. Throughout his career, spanning financial services, challenger banking, technology and energy, he has learnt that copying successful businesses rarely leads to lasting success.
“I become cautious when companies simply want to copy businesses like Revolut,” he says. “The best businesses know exactly who they serve and understand which problems they are solving.” That is often where conversations with prospective customers begin.
Rather than talking about technology first, Philipp wants businesses to understand what they are actually trying to achieve.
“I look for companies that understand which business KPI embedded finance will improve. Different industries benefit in different ways, so having that clarity from the beginning is incredibly important.”
If that clarity is not there, AAZZUR helps businesses find it before a single product is built.
“We will often run product discovery sessions or work alongside specialist consultants because there is no point building technology if the strategy is not right.”
From startup to scale-up
It is a philosophy that has shaped AAZZUR’s growth over the past nine years.
As the business has evolved from startup to scale-up, Philipp says leadership has had to evolve alongside it.
“Leadership changes as a company grows. In the early days, it is all about creativity and experimentation. As you scale, you need more structure, and eventually leadership becomes much more collaborative.”
For founders, that often means wearing several hats at once. “You have to move between those different leadership styles constantly.”
Inside AAZZUR, differing opinions are not seen as a problem to solve but as an advantage to embrace. “Our leadership team all approach problems differently, but we are united by the same mission and values.”
Those different perspectives have helped the business avoid the common startup trap of choosing between speed and quality.
“Rather than deciding whether to move quickly or build something more sophisticated, we have created roadmaps that allow us to do both.” That balance extends beyond product development.
Building the ecosystem
Embedded finance remains one of the most technically complex and heavily regulated areas of technology, making experience just as valuable as innovation.
“We have built an ecosystem of specialist providers across payments, cards, lending, insurance, KYC and much more,” Philipp explains.
Instead of asking customers to navigate a crowded market, AAZZUR curates the infrastructure best suited to each business.
“Our customers do not have to evaluate dozens of providers themselves. We bring together the right combination for their industry and use case.” AI is now accelerating that process even further.
AI and the next shift
For Philipp, AI is not simply another productivity tool. He believes it represents a fundamental shift in how both consumers and businesses interact with technology.
“For consumers, AI becomes a conversational interface that simplifies everyday tasks, whether that is booking travel or managing finances.”
Behind the scenes, businesses stand to benefit just as much.
“It allows companies to build products faster and access capabilities across multiple systems much more easily.”
Within embedded finance, however, the opportunity goes further.
“AI is moving beyond recommendations. It is starting to make financial decisions and execute transactions.” With that opportunity comes responsibility.” Our focus is building frameworks that allow AI agents to operate safely, securely and compliantly inside regulated financial environments.”
Adapting before the wave hits
It is an area Philipp believes will define the next generation of financial technology. His ability to think several steps ahead stems partly from one of the biggest lessons of his career. The 2008 financial crisis fundamentally changed how he viewed risk.
“At the time I was working in the energy sector and underestimated how wider economic events would affect our business because I did not initially see the connection between housing and oil prices.” The experience taught him something he still applies today.
“Do not wait until change becomes obvious.” He believes many businesses are making that mistake with AI.
“AI has not transformed payments to the same extent as other industries because regulation naturally slows adoption, but waiting until the impact is undeniable means reacting too late.”
Instead, AAZZUR is investing now, building the regulatory and technical foundations that will allow AI to operate safely as adoption accelerates.
For Philipp, adapting early has become one of the defining characteristics of successful businesses. “The organisations that embrace continuous learning and respond quickly to technological change will always have the advantage.”
That mindset also influences how he builds teams. Technical skills matter, but in an early-stage company they rarely come first.
“I value curiosity, adaptability and initiative more than technical expertise.”
Startups, he says, rarely come with instruction manuals. “You need people who are comfortable solving problems without detailed instructions, trying new ideas and taking ownership.”
As businesses grow, the balance shifts. “Strategic partners need deep industry expertise because they strengthen your own capabilities and accelerate growth in ways an internal team often cannot.”
Looking ahead
Looking ahead, Philipp believes AI will reshape not just financial services but how every organisation operates. “It will fundamentally change how knowledge work is done.” Companies will need to rethink everything from decision-making to organisational design.
“The businesses that succeed will be the ones willing to adapt continuously rather than treating change as a one-off project.”
For AAZZUR, that means pushing embedded finance beyond today’s capabilities. The company is already developing AI across the value chain, from fraud detection to credit decisioning, while continuing to simplify how financial services are delivered behind the scenes.
Ultimately, Philipp does not believe the future belongs to businesses trying to become banks. It belongs to businesses that make financial services feel almost invisible.
“The best financial experiences will not feel like financial products at all,” he says. “They will simply become part of the customer journey, personalised, intelligent and delivered exactly when they are needed.”
Key takeaways
- AAZZUR chose to build embedded finance infrastructure rather than compete as a neobank, powering financial products for other businesses while their partners keep the customer relationship.
- Philipp Buschmann believes the best businesses solve genuine problems rather than copying successful models – clarity on which business KPI embedded finance will improve must come before any product is built.
- Leadership must evolve as a company grows: early-stage requires creativity and experimentation, scale-up requires process and structure, and founders must learn to move between both modes.
- AI is moving beyond recommendations in financial services and beginning to make financial decisions and execute transactions – AAZZUR is building the regulatory and technical foundations now.
- The organisations that will succeed are those willing to adapt continuously rather than treating change as a one-time event – curiosity, adaptability and initiative matter more than technical expertise in early-stage teams.
