This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
With Father’s Day behind us and the first official day of summer ahead, we keeping our eye on the fintech headlines as the summer news slump approaches. Be sure to check in with Finovate’s Fintech Rundown all week long for the latest announcements in the industry.
GrailPayraises $6.7 million to make ACH payments more secure.
Fiserv and Early Warning Servicescollaborate on Paze to provide financial institutions and merchants of all sizes with a convenient digital checkout solution for consumers.
Empower Federal Credit Union tapsIlluma to launch voice authentication.
Lending
Baker Hillunveils enhancements to its platform to help financial institutions better manage commercial real estate, CECL compliance, AI-driven compliance, agricultural spreading and financial analysis.
Finastra’sFilogixboosts Gen AI capabilities to empower mortgage brokers.
Digital banking
Digital banking solution provider for small businesses, Autobooks, introducesAutobooks Capital, powered by Fundbox, integrating business lending directly within the Autobooks platform.
This week’s edition of Finovate Global showcases recent fintech news from three countries in southeast Asia: Vietnam, Malaysia, and the Philippines.
Visa brings Click to Pay to Vietnam
A growing number of Vietnamese banks have become early adopters of Visa’sClick to Pay service. Click to Pay provides a faster, more secure, and convenient checkout experience for online transactions by enabling cardholders to make their purchases with fewer clicks—including relieving them of the need to manually enter card and shipping details. Instead, Click to Pay allows users to identify themselves through their email address or mobile phone number. The service uses advanced security technology—including the Visa Token Service—to keep transaction data secure and is designed to meet EMVCo standards for digital checkout.
“With e-commerce being so prevalent in Vietnam and aligning with the Vietnamese government’s digitization objectives, we are pleased to introduce this solution through our banking partners,” Visa Country Manager for Vietnam and Laos Dung Dang said. “Click to Pay with Visa has the potential to transform online shopping and support the development of a more connected digital economy.”
Cardholders with Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) can enroll in the Click to Pay service through their banking apps or with participating online merchants. Visa has also teamed up with Vietnamese payment platform Payoo, which will integrate Click to Pay across its merchant ecosystem. Visa announced that cardholders using Click to Pay at Payoo-affiliated merchants will be eligible for exclusive promotional offers “in the near future”. Additional merchants are expected to be added in the coming months.
BNPL provider Atome secures $75 million to support Philippines operations
“The Philippines is a key growth market for Atome,” Atome Chief Commercial Officer Andy Tan said. “This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale.”
Atome is part of Advance Intelligence Group, a fintech and AI platform backed by investors such as SoftBank Vision Fund 2, Warburg Pincus, Northstar, and Singapore-based EDBI. This week’s funding comes as the company has been expanding its BNPL offering throughout Southeast Asia, bringing alternative credit solutions to unbanked and underbanked populations in the region. The financing also arrives one year after Atome secured a three-year term loan facility from EvolutionX Debt Capital.
“The launch of innovative and fit-for-market solutions like the Atome Card (PayLater Anywhere) and lending products demonstrates their ability to expand offerings while leveraging local market expertise,” EvolutionX Partner Rahul Shah said.
Malaysia’s KAF Digital Bank goes live with Temenos
The growth of Islamic digital banking is one of the most underappreciated developments in international fintech. Helping power this trend are companies like Temenos which recently partnered with Malaysia’s KAF Digital Bank as the institution launches its new Islamic digital bank in the country.
“Powered by Temenos SaaS, KAF Digital Bank is redefining Shariah-compliant banking with smarter, simpler financial solutions and a seamless, customer-first digital experience,” KAF Digital Bank CEO Rafiza Ghazali said. “The successful go-live and early access customer launch marks a key milestone in our journey, enabling Malaysians to take control of their financial futures with greater confidence.”
Temenos SaaS will enable KAF Digital Bank to offer a range of Shariah-compliant financial solutions that make financial management easier for customers who require or simply prefer Islamic banking. The offering includes comprehensive core and digital banking services with payments, analytics, and Temenos Data Hub on Microsoft Azure cloud infrastructure. In a statement, Temenos APAC Managing Director Will Dale noted the growth and importance of the Islamic banking customer in the country.
“This go-live not only strengthens Temenos’ regional footprint in SaaS, but also shows the unique breadth of functionality and advanced technology we deliver,” Dale said. “With proven capabilities tailored to the Malaysian market and Islamic banking, Temenos SaaS empowers KAF Digital Bank to achieve faster time-to-market, greater efficiency, and drive future growth.”
KAF Digital Bank secured approval to operate as a digital bank at the beginning of the year, and will be the fourth digital bank to operate in the country. The bank was launched by KAF Investment Bank Berhad, in partnership with Carsome, MoneyMatch, Jirnexu, and StoreHub. KAF Investment Bank Berhad was established in 1975.
Here is our look at fintech innovation around the world.
Middle East and Northern Africa
Saudi Arabian finance app tiqmo partnered with global payments network MoneyGram.
Revolutreported that it has entered talks with the Bank of Israel to expand operations in the country.
MENA-based financial institution Mashreq launched its NEO PLUS Saver Account.
Central and Southern Asia
India-based MSME lender FlexiLoans raised $44 million in an expanded Series C round.
Identity verification innovator ID-Pal has unveiled its reusable KYC solution, ID-Pal Once.
The new offering streamlines the verification process, enabling users to complete identity verification as much as 5x faster.
Headquartered in Dublin, Ireland, ID-Pal most recently demoed its technology at FinovateEurope 2025.
AI-powered identity verification specialist ID-Pal has introduced its reusable KYC solution ID-Pal Once. The offering will enable organizations to streamline identity verification processes, control costs, and enable them to focus on growing their businesses. As a reusable identity verification solution, ID-Pal Once enables returning users to complete the verification process up to five times faster. The company estimates that this produces an 80% time savings.
“With ID-Pal Once, we’re not just speeding up KYC, we’re removing unnecessary friction, ID-Pal Once is an incredibly powerful solution that meets and exceeds the needs of organizations and customer expectations, underpinned by our existing full suite of world-class biometric, document, and database checks,” ID-Pal Co-Founder and Chief Technical Officer Robert O’Farrell said. “ID-Pal Once ensures that only genuine, verified identities are reused and importantly, doesn’t use humans to access the data. This is about secure identity reuse that respects the time of organizations and customers and respects your data.”
ID-Pal Once works by building profiles from previously-verified identity data, re-validating the data against the organization’s risk rules so as not to require users to repeat the data submission process. An accurate, secure, and real-time liveness check is all that is required in order for the technology to recognize returning users and reduce the verification process to a matter of seconds. The solution scales as organizations grow, allowing companies to continue to rely on consistent, policy-aligned identity verifications across regions, products, and channels. Deployed to power step-up authentication efforts for high-risk or high-value transactions, time-based re-checks for compliance requirements, as well as instant re-verification of returning customers, ID-Pal Once is already being used by the company’s customers in verticals ranging from financial services to telco to gaming.
“ID-Pal Once marks a major leap forward in how organizations can manage identity verification,” ID-Pal Head of Product Rob Sheehan said. “By enabling secure re-verification linked to biometrics, we’re eliminating redundant steps, reducing operational costs, and dramatically improving the user experience. It’s a win for both our partners and their customers.”
Founded in 2016 and headquartered in Dublin, Ireland, ID-Pal made its Finovate debut at FinovateFall 2024 and returned to the Finovate stage a year later for FinovateEurope in London. In its most recent appearance, ID-Pal showed how its platform uses 100% AI-powered technology to provide real-time verification that detects AI-generated documents, deepfakes, injection attacks, and more.
ID-Pal’s product news comes a month after the firm announced a partnership with UK-based financial services consultancy, Albany Beck. The partnership will combine Albany Beck’s AML/KYC Academy with ID-Pal’s identity verification and AML screening technology. The Academy is designed to instruct consultants on best-practices and provide them with practical skills to review AML/KYC processes and ensure regulatory compliance.
“Our partnership with ID-Pal marks a significant step forward in enhancing KYC/AML programs. By combining our training and development expertise with ID-Pal’s advanced technology, we can deliver unparalleled value to our clients, providing experts who will continue to deliver immediate impact, protecting the firms we work with and their end customers,” Albany Beck Partner Head of AML/KYC Emer McPartland said.
Insurtech continues to be one of the most dynamic subsectors in fintech. Just last month, life insurance SaaS company Bestow raised $120 million in Series D funding. Other insurtechs, as noted below, have launched successful IPOs in recent weeks.
This week, we’re sharing three headlines from the industry that shine a light on where innovation and growth in this space are headed—including more insurtech IPO news from a Florida-based speciality firm.
Insurtech Slide eyes $2 billion valuation in upcoming US IPO
Slide Insurance, a Tampa, Florida-based insurtech, has filed for an initial public offering. Founded in 2021 and going live the following year, Slide specializes in property insurance and has become one of the leading coastal insurance firms in the US. Slide provides home, condo, and commercial residential insurance products via a network of more than 5,000 agents in Florida and South Carolina. A self-described “technology-enabled insurance company,” Slide leverages AI and Big Data to hyper-personalize, optimize, and streamline the insurance process.
The company anticipates a valuation of as much as $2.12 billion in its IPO, raising $340 million through an offer of 20 million shares priced between $15 and $17, based on Slide’s SEC filing earlier this week. Slide shares will trade on the Nasdaq Global Select Market under the symbol SLDE. The company reported profits of $92.5 million for the quarter ended March 31. The figure reflected a gain of more than 69% year-over-year.
Slide’s IPO filing comes in the wake of American Integrity Insurance Group’s $126.5 million IPO. Also recently going public was specialty insurer and reinsurer Aspen Insurance, which raised more than $397 million in its May IPO. Specialty insurer Ategrity is seeking to raise in excess of $113 million in its public offering later this week.
Feather introduces business insurance for expat workers in Europe
German insurtech Featherunveiled new, digital business insurance designed for companies with international workers. The company’s expanded service comes in the wake of Feather’s successful efforts to digitize insurance access for international workers in Germany, France, and Spain. Feather’s new offering is aimed directly at human resource departments to equip them with technology that manages employee, health, life, and pension insurance, as well as cybersecurity insurance and professional and general liability coverage.
Feather CEO and Co-Founder Rob Schumacher said in a statement that offering quality insurance benefits for their workers was a challenge for many small and medium-sized businesses in part because “traditional insurance partners aren’t built to support them.” Highlighting pension insurance as an example of a benefit SMEs struggle to provide, Schumacher added, “Feather is a no-brainer for companies where expats make up at least 10% of the workforce. HR leaders can turn international onboarding into a warm welcome instead of a bureaucratic nightmare.”
Headquartered in Berlin, Germany, Feather was founded in 2018. To date, the company has served more than 90,000 customers and processed more than 20,000 successful claims.
Markel unveils InsurtechRisk+ for insurtech businesses
Markel Insurance, the insurance operations division of Markel Group, launched its InsurtechRisk+ solution for insurtech companies today. The offering includes four insuring clauses: (1) insurance services and technology liability, (2) directors and officers (D&O) liability, (3) crime and cyber liability, and (4) loss cover. These clauses provide protection for businesses domiciled in the UK, Europe, Australia, and Canada, and offers limits of up to £10 million.
“The cyber risk landscape has evolved since we launched our first Insurtech policy with the emergence of more advanced attacks from threat actors utilizing AI tools/technology to infiltrate company networks, impersonate senior personnel and steal confidential data and funds,” Markel Head of Fintech and Investment Management Insurance Nick Rugg said.
Combined with value-added services including 24/7 business; legal and employment advice; R&D tax advisory; debt recovery support; grant and funding assistance; contract reviews and a cyber risk toolkit, the clauses in Markel’s InsurtechRisk+ product will help insurtechs better manage cyber threats, as well as criminal and financial liabilities. The new offering gives firms a “one-stop-shop” approach that avoids potential coverage gaps that can occur when companies rely on multiple policies from multiple insurance vendors.
“Another key goal in launching InsurtechRisk+ is to offer best-in-class cover alongside risk management solutions that go beyond typical post-loss assistance for policyholders,” Rugg added. “We want to disrupt traditional insurance products as well as how customers view the role of the insurer as only helping clients after an incident has taken place.”
Business account provider ANNA Money has teamed up with card infrastructure company Episode Six.
Via the partnership, ANNA Money has migrated its business card program to Episode Six’s platform to better serve its small business customers.
Headquartered in Cardiff, Wales, ANNA Money made its Finovate debut at FinovateEurope 2020.
All-in-one business account provider ANNA Money has partnered with card issuing and ledger infrastructure company Episode Six. ANNA Money has successfully migrated its business card program to Episode Six’s platform to better meet the product, expansion, and integration needs of its customers.
“We needed a partner with proven infrastructure and the ability to match our pace and expansion,” ANNA Money COO Alex Kokovin said. “Episode Six delivered on all fronts, addressing the limitations we previously faced. Their technology allows us to offer business debit cards, deliver a seamless experience to our customers, and scale with confidence. We reviewed a large number of vendors and Episode Six stood out for their experience, agility, and proven ability to migrate live card programs successfully.”
ANNA Money has leveraged Episode Six’s modern card infrastructure to integrate virtual and physical card capabilities into its mobile-first business account solution. The integration enables visibility into real-time transactions, instant card issuance, and the ability to configure both features and workflows. A core component of ANNA Money’s offering, business debit cards enable the fintech’s customers to pay suppliers and make business payments directly from their account conveniently and securely. In their announcement, the companies noted that their partnership comes as demand for modern card solutions is growing among SMEs in the UK. A 2024 study by Juniper Research estimated that the number of cards issued by modern card issuing platforms will soar from 748 million in 2024 to 1.4 billion in 2029.
“ANNA Money is a great example of what’s possible when fintechs pair vision with the right infrastructure,” Episode Six CEO and Co-Founder John Mitchell said. “By leveraging our platform, they’ve migrated to a sophisticated card platform to enhance the overall ANNA Money offering for its business customers, at scale and with speed.”
Episode Six helps banks, fintechs, and brands launch card, deposit, and credit products at speed and scale their offerings without having to rewrite their core. The company’s technology enables firms to build consumer, business, and secured credit cards; prepaid and debit cards; commercial cards and spend controls; multi-currency cards and wallets; virtual accounts and embedded wallets; installments, BNPL, lending features, and more. Founded in 2015 and headquartered in Austin, Texas, Episode Six operates in 50 markets around the world, has more than 70 enterprise customers, and more than 40 million end users.
Headquartered in Cardiff, Wales, and founded in 2017, ANNA Money made its Finovate debut at FinovateEurope 2020. At the conference, ANNA Money demoed how its tax and VAT accounting functionality provides self-assessment and VAT returns without the cost of relying on dedicated accountants. The technology automatically categorizes and reconciles expenses, calculates VAT and tax in real time, and submits completed tax and VAT returns to the HMRC.
This week’s announcement comes weeks after ANNA Money reported that it was working with Australian fintech Shaype, which helps businesses embed banking and payment options into their offerings. The partnership enabled Shaype to launch an all-in-one business finance super app that consolidates services including business banking, taxes, expenses, company formation, and corporate cards into a single platform.
Loan intelligence system (LIS) company Parlay Finance has secured $2 million in seed funding in a round led by JAM FINTOP.
The funding will help Parlay expand product development and grow its network of community lenders.
Parlay made its Finovate debut at FinovateSpring 2024.
In a round led by JAM FINTOP, loan intelligence system (LIS) company Parlay Financehas raised $2 million in seed funding. The funding will help the Virginia-based fintech expand product development, deepen integrations with existing systems of record, and expand its network of community lenders.
“JAM FINTOP’s investment and network of banks creates a powerful multiplier effect for our technology,” Parlay CEO and Co-Founder Alex McLeod said. “Through this partnership, we’re empowering community lenders nationwide to maintain rigorous underwriting standards while drastically improving operational efficiency and insight. By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses.”
Parlay Finance offers a solution that helps lenders boost loan volume, enhance operational efficiency, and maximize profitability without incurring additional risk. The company’s loan intelligence system complements existing loan origination systems (LOS) and features capabilities including digital customer onboarding, information verification, and a decision management system—powered by AI—that streamlines the processing of Small Business Administration (SBA) loans, which are notoriously complex and costly to underwrite.
In a statement, Parlay noted that it also has intensified its relationships with banks in the JAM FINTOP network. JAM FINTOP Investor Stephen Schroder, who will join Parlay’s board of directors, underscored the opportunity for its partnering banks. “Parlay has built what our banks need: a system of intelligence that integrates with existing systems of record to deliver substantial improvements in both volume and efficiency,” Schroder said. “We are confident the team’s deep understanding of banking operations and proven ability to execute will drive value for financial institutions nationwide.”
Founded in 2022 and headquartered in Alexandria, Virginia, Parlay Finance made its Finovate debut at FinovateSpring 2024. At the conference, the company showed how its technology helps lenders generate high-quality loan packets and provide scalable technical assistance for small business applicants. This helps boost customer loyalty, improve the efficiency of lending operations, and create interest and fee revenue for Parlay’s lending partners.
Last month, Parlay Finance partnered with credit-decisioning firm and fellow Finovate alum Stratyfy. The strategic partnership will combine Parlay’s platform with Stratyfy’s credit solutions to offer a frictionless intake and underwriting experience that helps banks increase lending to qualified small business borrowers.
According to the New York Fed, US total household debt reached $18.2 trillion in the first quarter of this year.
While there were positive signs—credit card balances were lower quarter-over-quarter—the $16 billion uptick in student loan balances, including the number of loans that had moved from “current” to “delinquent,” was a reminder of how dynamic the US household debt landscape can be. The report also noted that, while there were no significant increases in the number of auto loans and credit card balances that had “transitioned into serious delinquency,” there was an increase in aggregate delinquency rates versus the previous quarter.
It is against this backdrop that we learned that debt recovery and credit rebuilding innovator Remynt has secured a strategic investment from One Washington Financial, the wholly-owned holding company of WSECU (Olympia, Washington). As part of the investment, Remynt, which won Best of Show in its Finovate debut at FinovateSpring last year, will also become a Credit Union Service Organization or CUSO.
“Since Remynt’s founding, our goal has been to support credit unions because we align closely in our support for financial wellness,” Remynt Founder and CEO Gwyneth Borden said. “We are thrilled to have the support of One Washington Financial and WSECU. This investment will help us scale our business and serve more credit unions to achieve higher recoveries while supporting member financial health.”
Founded in 2022 and headquartered in San Francisco, California, Remynt is a digital-first debt and credit recovery company. Remynt enables creditors to recover revenue from non-performing delinquencies and empowers consumers to resolve debt on their own terms thanks to a customer-centric, resiliency-oriented approach. Users of Remynt resolve their outstanding debts via a credit builder that links debt payments to a positive credit tradeline. The Remynt platform features credit score insights, personal finance management tools, and access to other financial wellness resources.
Thanks to this week’s strategic investment, and Remynt’s new status as a CUSO, the company will be able to quickly scale its solutions to support more credit unions and help them achieve economies of scale and operational efficiencies through shared resources and specialized expertise.
“Our partnership with Remynt aligns with our mission to create meaningful community impact by providing access to equitable and innovative financial solutions,” One Washington Financial Principal Scott Daukas said. “By including Remynt as part of WSECU’s financial wellness strategy, we directly contribute to our members’ financial stability, growth, and development.”
I caught up with Gwyneth Borden late last week to talk about Remynt’s investment news, its goals as a CUSO, and what credit unions want—and need—from their fintech partners. An edited transcript of our conversation is below.
As a small business owner in this space, how did you feel about 2025 as the year began?
GwynethBorden: I think there had been this sense of optimism. The stock market was going up. People thought things were going to be moving in a better direction.
And so I think we were optimistic going into 2025, initially thinking that consumer confidence had diminished and that 2025 might be a better year if people felt like things were moving in a different direction in the country and maybe that would be a positive thing.
Obviously what we didn’t anticipate were the tariffs, and the crazy back and forth and fluctuations in prices as a consequence. The uncertainty. People losing their jobs.
What’s interesting now is that this is kind of a wait-and-see economy. A lot of people are holding back. Talking with others—with credit unions or people in the collections world—typically tax season is a huge windfall. Everybody pays their debt off in the tax season and we didn’t really see that this year.
Why become a CUSO—a Credit Union Service Organization—now?
Borden: A big part of it, of course, is that we were fortunate to get an investment from One Washington Financial, which is WSECU. And in order to accept that investment, you have to be a CUSO, a credit union service organization. That was fine with us because it very much was aligned—from the very beginning—with our focus on supporting credit unions. We’re just delighted about the opportunity, to really stake our claim in the credit union space and say, “We are really here to be your partner.”
We are especially interested in serving a lot of smaller credit unions; in fact, part of our goal for our CUSO is at least 20% of the credit unions we serve be smaller than $300 million. A lot of tech companies don’t want to serve those businesses because they find it not to be enough revenue or volume for them. But the way our platform is built, it doesn’t really matter if you have two members on the platform or hundreds of members on the platform. It doesn’t cost us any more.
We’re also excited about bringing on WSECU as a customer, as well. They are a $5 billion-plus credit union, so it’s a really exciting opportunity for us to really scale substantially the number of people that we’re getting to serve.
Based on your conversations, what is it that credit unions want—or need—most from their fintech partners?
Borden: For credit unions in general, most of them are really trying to figure out how they can grow their businesses. Every single financial institution, including credit unions, makes money from lending. And in these precarious times, being able still to lend and provide the products people need for their lives (is important). A lot of them are starting to ask: Do we do small dollar loans? Are there credit voucher products? They are looking to see how they can expand their services to better serve the communities around them.
What can we expect to see and hear from Remynt over the balance of the year and into the next?
Borden: We are going to be expanding exponentially and bringing on more credit unions. We are going to release a white-label version of our platform in the latter part of the year that includes some AI agents. So it’s kind of an exciting development in the digital collections space. You’ll see a number of developments on our platform that we’ll be launching later this year, as well as some exciting partnerships with additional credit unions. We’re really staking our claim in a particular area in the credit union space, which I’m really excited about.
The dust is still settling in the wake of Circle’s “buzzy IPO” in the words of MarketWatch. We’ll see if the fintech headlines can keep up this week!
Digital banking
KAF Digital Bank goes live with Temenos SaaS to bring Islamic digital banking services to customers in Malaysia.
ABN AMRO’s payment app Tikkie has developed a full-service bank, BUUT, that caters to younger customers.
Digital bank N26unveils an updated version of its premium subscription, N26 Go.
Open banking solutions provider Salt Edgepartners with digital banking experience platform Plumery.
Farsightraises $16 million in funding, announces Series A to automate financial workflows and decision-making.
Fraud prevention and identity verification
FrankieOne launches new risk and compliance platform that offers fraud detection and identity verification.
Cybercrime consultancy We Fight Fraud partners with Salv to facilitate intelligence sharing between financial institutions in Europe.
Regtech iDenfyteams up with international hosting provider SpaceCore to bring optimized customer verification to global hosting.
The Bank of International Settlements (BIS) and the Bank of England (BoE) collaborate on testing to see if AI can spot fraudulent activity in retail payments data.
AML and CFT solutions provider AMLYZEonboards Advanzia Bank as part of its European expansion.
Veleraadds real-time account validation functionality to digital channels.
Legislation in California moves forward to give the state authority to seize unclaimed cryptocurrency assets held on exchanges after three years of inactivity.
This week’s edition of Finovate Global looks at recent fintech headlines from Ireland.
Nomupay Raises $40 Million at $290 Million Valuation
Courtesy of an investment from SBPS, a subsidiary of Japan’s SoftBank, Irish fintech Nomupay has secured €35 million ($40 million) in new funding. The capital gives the company a valuation of $290 million and comes as part of an alliance that will enable Nomupay to expand its reach into the Asian market.
“Since our inception in 2021 we have been robustly active in the region; the SBPS investment now enables us to double down and support inter regional commerce by adding additional countries and payment methods to the platform in order to support bi-directional access between Japan, Asia, and the rest of the world,” Nomupay Group CEO Peter Burridge said.
Nomupay’s unified payment platform streamlines payment processes—including acquiring, treasury, and payouts—for businesses operating in fragmented, emerging markets. The company aggregates local payment methods into a single, consistent API; and offers treasury and reconciliation tools that provide real-time visibility, automated fund flows, and multi-currency management. Nomupay helps businesses go to market faster and in-line with local regulations, without needing to engage with multiple PSPs and other partners.
The partnership will enable Nomupay to expand and solidify its presence in Asia by way of Japan. SBPS will benefit from access to Nomupay’s single API and gateway-agnostic, single, back office platform, offering a range of payment options and scalability.
“With Nomupay as a key partner, we will leverage Nomupay’s payment solutions to support our clients entering the Asian market,” SBPS Representative Director, President, and CEO Jun Shimba said. “Nomupay offers a wide range of services in the payment field in Asia, and can meet flexible and diverse needs. Nomupay is a highly reliable partner.”
Founded in 2021, Nomupay is headquartered in Dublin, Ireland.
TransferMate Announces Strategic Partnership with Deutsche Bank
Embedded B2B payments infrastructure-as-a-service company TransferMate has forged a strategic partnership with Deutsche Bank. The partnership will enable TransferMate to provide in-country collections, cross-border payments, and local fund storage. Working with Deutsche Bank only adds to TransferMate’s extensive local collection capabilities, helping make the company’s platform among the largest fintech payment infrastructures in the world.
“Our collaboration with Deutsche Bank is another significant milestone as we continue to grow our global footprint and be the embedded B2B partner of choice,” TransferMate CEO Gary Conroy said. “This partnership further strengthens our reach, our capabilities, and the value we bring to our partners and their clients.”
Initially, the partnership will focus on facilitating operations in APAC markets, with other regions to be added over time as TransferMate leverages Deutsche Bank’s extensive international network. In a statement, Deutsche Bank’s Head of Cash Management & Head of CB APAC MEA, Ole Matthiessen, highlighted the opportunity in APAC.
“This strategic collaboration between TransferMate and Deutsche Bank underscores the immense potential of fintech-bank partnerships in accessing and scaling global markets, particularly navigating the high-growth yet diverse Asia Pacific landscape. This showcases the strength of our offering, aligning seamlessly with our Global Hausbank strategy,” Matthiessen said.
Founded in 2010 by Terry Clune, TransferMate manages a global payments network that covers 200+ countries and territories and 140+ currencies. The company is headquartered in Kilkenny, Ireland.
Paytech Splink Partners with Global Payments
Payments platform Splinkannounced a strategic partnership with international payment processor Global Payments this week. The collaboration will enable Splink to go live with Global Payments’ SoftPOS technology, which enables any smartphone to accept tap-to-pay transactions with no additional, external hardware required.
“Splink brings excellent technology combined with commercial agility and an impressive team that perfectly complements our infrastructure, distribution, reach, and the key attributes we look for in a partner,” Global Payments Head of UK and Ireland Partnerships Tom Woods said. “We’ve had some recent successes together with key merchant wins in Ireland and the UK and we’re excited to see the partnership grow.”
Founded in 2019 by Mark Lyttleton and headquartered in Dublin, Splink offers a flexible payments solution that allows businesses to choose from among more than 20 different payment options. Splink enables companies to receive and request payments, as well as set up an online shop that helps boost transaction volumes. Splink’s solution is also available as a white-label offering, allowing companies to set up their own digital payments business and add a new source of recurring revenue.
Here is our look at fintech innovation around the world.
Central and Eastern Europe
Fintech Autopay introduced its biometric palm-authentication payment system in Poland.
Digital debt collection company Pair Finance opened new offices in Warsaw.
Middle East and Northern Africa
UAE-based fintech Qashio raised $19.8 million in both equity and non-equity financing.
Saudi Arabian fintech Nqoodlet secured $3 millioon in seed funding to help SMEs access financing.
Zain Fintech launched its Bede Mobile Wallet in Sudan.
Central and Southern Asia
Singapore-based KYC, data intelligence, payments, and debt collections solutions provider Decentro raised Rs 30 crone ($3.5 million) ahead of plans to relocate to India.
Indian fintech Spense secured $1.85 million in pre-seed funding.
The National Bank of Kazakhstan unveiled its new, crypto card, retail payments initiative.
Latin America and the Caribbean
Uruguayan fintech dLocal acquired cross-border payments company AZA Finance.
Finastra and consulting firm TCMpartners teamed up with Banco de Costa Rica as the firm launches its International Trade Automation Project.
Swedish Pay-by-Bank solutions company Zimpler earned certified Payment Institution (PI) status in Brazil.
Asia-Pacific
Malaysia’s KAF Digital Bank went live with Temenos SaaS to power its new Islamic digital bank offering.
Australian fintech platform Complii Fintech Solutions to bring its capital raising solution to the UK.
Sub-Saharan Africa
TechCrunch reported that African digital bank and fintech, PalmPay, is seeking to raise between $50 million and $100 million in a Series B funding round.
From AI in the service of greater personalization and sales performance to innovations in voice authentication and fraud prevention, the latest round of interviews on the Finovate Podcast provide fascinating insights into how fintechs are helping financial institutions meet their most demanding challenges.
Finovate Podcast host Greg Palmer interviews Finalytics CEO Craig McLaughlin and CSO Baron Conway.
The three discuss how the Finalytics platform provides real-time, cross-channel, AI-driven personalization that combines behavioral data with transactional and third-party data to create unique, relevant experiences for customers of financial institutions.
Andrew Reese, US go-to-market lead for Solda.ai, joins Greg Palmer and the Finovate Podcast to talk about the company’s AI-powered sales agents that help financial institutions increase revenue and reduce costs by mirroring their best sales representative.
The technology helps scale sales operations, lower costs, reduce burnout and inconsistent performance, all while retaining a human connection.
Greg Palmer and Milind Borkar, founder and CEO of Illuma talk about the firm’s evolution from an authentication specialist to a more comprehensive fraud prevention company.
A two-time Finovate Best of Show winner, Illuma specializes in voice authentication and fraud prevention solutions for mid-market financial institutions, including credit unions and community banks.
Account-to-account (A2A) payment infrastructure company Token.io has received a strategic investment from HSBC. The amount was not disclosed.
The investment underscores the two companies’ history of collaboration, which includes Token.io’s support for HSBC’s Open Payments solution.
Token.io made its Finovate debut at FinovateSpring 2015 and returned to the Finovate stage two years later for FinovateEurope in London.
Token.io, an account-to-account (A2A) payment infrastructure innovator, secured a strategic investment from HSBC this week. The amount of the funding was not disclosed. The two firms have been partners since 2019, when Token.io helped the bank launch its HSBC Open Payments solution.
“We are excited to deepen our partnership with HSBC as we embark on this collaboration,” Token.io CEO Todd Clyde said. “This investment will not only accelerate Token.io’s growth and innovation, it will also advance our shared vision of making Pay by Bank a mainstream payment method—delivering benefits for HSBC’s customers across the region.”
Pay by Bank is a payments service that gives customers a secure, fast, and convenient way to conduct peer-to-peer payments, account deposits, and loan repayments, as well as securely authenticate transactions via their banking app. Supported by open banking and real-time payment infrastructure, Token.io’s technology makes the service available to anyone with a UK or European bank account. In a statement, the company noted that analysts believe in the future growth of Pay by Bank, predicting that three-in-four Europeans will be regular Pay by Bank users by 2029. In fact, by 2030, analysts estimate that use of Pay by Bank for e-commerce transactions in Europe will become more popular than all other digital payment options, with the exception of digital wallets.
HSBC’s Open Payments solution is based on this infrastructure. The technology enables businesses to connect their checkout pages with online apps or mobile platforms used by customers. Purchasers are given a request for pre-populated payments and, once the payment is authorized, the seller is granted an “instant and irrevocable credit” to their account. The new offering helps businesses get working capital faster and keeps both the risk of fraud and the cost of collections low.
“Our investment in Token.io reflects the trust and confidence we have in their team and technology, and our firm belief in the role that innovative Open Banking solutions play in transforming the payments experience for both corporates and consumers,” HSBC Head of Global Payments Solutions Manish Kohli said.
Founded in 2015 and headquartered in San Francisco, California, Token.io made its Finovate debut at FinovateSpring 2015 and returned two years later to demo its latest technology at FinovateEurope in London. A major account-to-account payment infrastructure provider for banks and other financial institutions, Token.io’s partners include three of the largest financial institutions in Europe as well as companies such as Global Payments and fellow Finovate alums Mastercard and ACI Worldwide.
Last month, Token.io became the first third-party provider to be admitted to the giroAPI scheme. This will enable the company to provide account-to-account payment solutions to its partners—including micropayments that are exempt from Strong Customer Authentication (SCA) requirements. Launched by the German Banking Industry Committee associations—BVR, DSGV, VÖB, and the Association of German Banks—at the beginning of the year, the API scheme is built on the Berlin Group’s openFinance API framework and provides a standardized, secure, and commercially governed interface to connect banks with third-party providers such as Token.io.
“By joining giroAPI, Token.io is enabling the next wave of premium, API-driven payment services—making it easier for businesses to offer innovative payment options and for consumers to benefit from seamless, secure experiences,” Token.io Chief Product Officer Charles Damen said. “We are proud to lead the way in bringing the full potential of open banking-enabled payments to the European market.”
Embedded ERP banking innovator FISPAN secured $30 million in Series B funding.
The round was led by Canapi Ventures and featured participation from existing investors, including Rhino Ventures.
FISPAN most recently demoed its technology at FinovateEurope 2022 in London.
In a round led by Canapi Ventures, embedded ERP banking specialist FISPAN has raised $30 million in Series B funding. Existing investors, including Rhino Ventures, also participated in the round. In a statement, the company said that the funds will help FISPAN expand the set of ERP platforms it supports, add actionable insights to its Accounts Payables solution, and launch a new Accounts Receivables automation product. In addition to accelerated product development, FISPAN noted that the capital will help the firm scale its go-to-market efforts and expand its market reach as well as support strategic talent acquisition.
FISPAN helps businesses integrate banking services directly into their enterprise resource planning (ERP) systems and accounting software. The company helps banks maximize their investments in host-to-host and API platforms that have enabled large businesses to experience greater productivity by connecting to their financial institutions directly. FISPAN’s technology packages these connectivity capabilities to empower banks to deliver their treasury products to mid-market and smaller businesses by way of an easy-to-install, out-of-the-box, in-ERP plugin. This empowers banks to offer integrated client experiences via financial and banking capabilities that are embedded directly into their existing ERP systems. This facilitates centralized financial workflows, automated processes, and fewer manual errors for businesses.
“This Series B funding is a pivotal moment for FISPAN, empowering us to significantly scale our innovation and market reach,” FISPAN Founder and CEO Lisa Shields said. “Canapi quickly distinguished themselves through their understanding of the embedded ERP banking landscape and our unique opportunity within it. With an LP network of over 75 financial institutions—and partners with banktech operating expertise—Canapi is a natural partner for our next chapter. We’re excited to work with Canapi to help more treasury teams optimize their operations.”
A multi-stage venture capital firm, Canapi Ventures invests in fintech and enterprise software and is backed by the Canapi Alliance, whose network of leading financial institutions stretches across the US. As part of its investment in FISPAN, Canapi Ventures’ General Partner Tom Davis will join the company’s board of directors.
“FISPAN is at the forefront of a fundamental shift in how businesses interact with their banks,” Canapi Ventures General Partner Tom Davis said. “Their proven ability to deliver highly sought-after embedded finance solutions positions them for tremendous growth. Our investment reflects our confidence in their visionary team and their capacity to build a leading platform that drives efficiency and value for both financial institutions and their corporate clients.”
Founded in 2016 and headquartered in Vancouver, British Columbia, Canada, FISPAN made its Finovate debut in 2017 at FinovateFall in New York and most recently demoed its technology at FinovateEurope 2022 in London. The company counts the world’s largest banks and nearly 5,000 businesses throughout North America among its customers. FISPAN began 2025 announcing that partner BMO had launched its embedded banking solution, BMO Sync. The new offering will enable businesses to automate payments, streamline workflows, and achieve enhanced cash flow visibility to simplify the payments process.
