Author: Julie Muhn (@julieschicktanz)

Beyond the Demos: Why You Can’t Miss FinovateSpring 2025’s Content Sessions

Beyond the Demos: Why You Can’t Miss FinovateSpring 2025’s Content Sessions
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2025, Marketing

At FinovateSpring 2025, taking place May 7 through 9, the excitement doesn’t end with the live demos on stage during the first two days of the conference. In addition to a star-studded keynote lineup and a full afternoon of topic-specific breakout sessions on Friday, attendees can look forward to a carefully curated selection of engaging panel discussions and executive briefings led by some of the sharpest minds in financial services and fintech.

Tickets for FinovateSpring are available now! Visit our registration page today and take advantage of early-bird savings.

Here’s a preview of what’s in store:

Beyond Financial Inclusion: How Can Banks Capture the Huge Growth Opportunity Offered by This New Customer Base?

In this panel, moderated by Jim Perry, Senior Strategist at Market Insights, the audience will discover how banks can move beyond traditional notions of financial inclusion and tap into the enormous growth potential of underserved markets. This session will explore strategies to authentically connect with and serve new customer segments.

AI-Driven Profitability in Financial Services: How Banks and Fintechs Are Unlocking New Revenue Streams and Cost Efficiencies

In this 90-minute session, which is hosted by VASS Intelegyz and moderated by Julie Muhn, Senior Research Analyst at Finovate, will showcase how AI can transform core financial operations, with real-world strategies for aligning AI with business goals and scaling from pilots to production. Practical, no-nonsense insights await.

Please note that this is an exclusive, invitation-only briefing for banks and financial institutions. If you are in that category and are interested in participating, please email [email protected].

Power Panel: Getting Beyond the Hype: How Can Financial Services Providers Harness AI, GenAI, and Agentic AI to Make or Save Money?

Moderated by Jason Henrichs, CEO at Alloy Labs, this session looks into AI in banking. It is everywhere— but how can banks and fintechs really turn it into profit? The panel will cut through the buzzwords to reveal how financial services providers can capitalize on AI’s real opportunities.

Analyst All Stars: How Financial Services Have Been Changed Forever

The Analyst All Stars Session is always one of the most popular sessions at the event! This year’s session features analysts from Cornerstone Advisors, Curinos, CCG Catalyst Consulting, and Fingerprint. The experts will bring their own, unique insights on the shifts redefining banking technology, digital content strategies, and customer onboarding.

The Coming Storm for Community Banks: How Can They Find a Path to Change and Compete in the New Digital World?

This executive briefing, moderated by Jason Henrichs, CEO at Alloy Labs, tackles how community banks can navigate digital disruption, adapt quickly, and carve out competitive advantages.

Power Panel: As Embedded Finance Expands Beyond Banking, How Can FIs Capture the Opportunity That Could Generate Over $100B in Revenue?

Moderated by Phil Goldfeder, CEO at American Fintech Council (AFC), this panel will explore how embedded finance is reshaping the industry—and what banks need to do now to get ahead of the curve.

Power Panel: As Fraud Threats Continue to Evolve, How Can All Players Collaborate to Safeguard Customer Assets and Company Reputations?

This power panel, which is moderated by Jas Randhawa, Managing Partner at StrategyBRIX, will look at how collaboration is key as fraud threats escalate. This session will explore how technologies like regtech, GenAI, and digital identity can help defend the financial ecosystem.

Power Panel: The CX Revolution: How Financial Services Providers Can Compete in a Hyper-Personalized World

This session, moderated by Tanvi Lal, Investor at Intuit Ventures, will explain how top financial brands are reinventing customer experience (CX) to meet consumers at their point of need—and what lessons they can steal from big tech.

Power Panel: Balancing the Balance Sheet: How Can Banks Win the Battle for Deposits?

Moderated by Mary Miklethun, Senior Vice President at U.S. Bank, this power panel will offer strategies for banks to win (and keep) customer funds in a competitive market in which deposits are under pressure.

Investor All Stars: Are We Going to See a Sustained Fintech Boom?

The Investor All Stars session is notoriously popular with fintechs looking to form and maintain relationships with venture capitalists, as well as banks interested in keeping tabs on funding and valuations. Moderated by Kris Cole, Managing Director at Prosek Partners, this session will offer insight into an investor’s perspective on what’s going on in fintech and banking.

Whether you’re looking to deepen your understanding of AI, explore new growth channels, or get ahead of trends like embedded finance and CX, these sessions offer invaluable opportunities to gain fresh insights and connect with industry leaders.

Secure your spot now and make the most of your FinovateSpring 2025 experience.

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WSECU Invests in AKUVO to Modernize Collections and Credit Risk Management

WSECU Invests in AKUVO to Modernize Collections and Credit Risk Management
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • AKUVO secured a new investment from Washington State Employees Credit Union (WSECU), adding to its $13 million in previously raised funds.
  • The investment will help AKUVO expand its cloud-native collections and credit risk solutions, enhancing efficiency and customer experience for banks, credit unions, and fintechs.
  • The move signals growing interest in modernizing collections technology across the financial services industry amid economic uncertainty and evolving consumer behavior.

Digital collections and credit risk platform AKUVO landed a new round of funding today. The Pennsylvania-based company received an undisclosed amount from Washington State Employees Credit Union (WSECU), a $5.2 billion credit union based in Olympia, Washington.

While the amount of the funding was undisclosed, it adds to the $13 million AKUVO has received since it was founded in 2019. Among the company’s other investors are VyStar Credit Union, Curql, Reseda Group, and Coastal Federal Credit Union.

AKUVO offers collections software to help banks and fintechs collect and manage their debt portfolios. The company’s tools include a standalone virtual collector and a collections platform with automated call and text reminders. AKUVO’s technology helps increase collections efficiency, improve the customer experience, anticipate delinquencies, and offer insight into future credit decisions.

“Our partnership with AKUVO supports our mission to improve the financial wellbeing of our members and the communities we serve,” said WSECU COO Paul Kirkbride. “This investment reflects a commitment and confidence in AKUVO as a company and technology provider. We believe that AKUVO’s platform will help us enhance collections strategies, improve efficiency, and deliver exceptional member experiences. We are excited to further contribute to the company’s long-term vision through this investment.”

Today’s funding comes from WSECU’s holding company, One Washington Financial, which will join AKUVO’s Advisory Board.

“We are honored to welcome WSECU as they join six credit unions and CURQL as an investor in AKUVO,” said AKUVO Founder and CEO Jay Mossman. “The commitment to innovation and member service aligns perfectly with our goals, and we look forward to a successful partnership that drives positive outcomes for both organizations.”

This funding represents a significant vote of confidence in AKUVO’s role in the future of collections and credit risk management. As financial institutions continue to navigate economic uncertainty and evolving consumer behaviors, the demand for more intelligent, automated, and customer-friendly collections solutions is growing. AKUVO’s ability to combine emerging technologies like AI, natural language processing, and machine learning into its platform positions it as a key player helping banks and fintechs modernize their debt management strategies.

More broadly, the investment signals a growing trend among credit unions and banks to prioritize innovation in traditionally overlooked areas like collections. Instead of treating collections solely as a back-end operation, institutions are increasingly viewing it as a strategic function that can impact customer experience, operational efficiency, and risk mitigation. As economic uncertainty persists, platforms like AKUVO that enable early intervention, personalized outreach, and data-driven insights will become essential tools for financial institutions seeking to maintain strong portfolio health and deepen member and customer loyalty.

Photo by Allef Vinicius on Unsplash

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Bilt Selects FIS Premium Payback to Make it Easier to Redeem Points

Bilt Selects FIS Premium Payback to Make it Easier to Redeem Points
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, FIS
  • Bilt is partnering with FIS to integrate Premium Payback, enabling members to instantly redeem loyalty points at checkout without additional apps or sign-ups.
  • Bilt Rewards members can now use points earned from rent, dining, rideshare, and travel purchases for immediate savings at participating merchants.
  • FIS’s Premium Payback network, which supports 7,000+ card loyalty programs, helps drive customer engagement by increasing point redemption and boosting cardholder spending.

Loyalty platform Bilt has selected payment, banking, and investment systems provider FIS to allow users to redeem their points directly at the point of purchase.

Bilt is using FIS’ Premium Payback solution, an engagement tool that connects participating issuers with participating merchants to allow point redemption directly at the point of purchase. By adding the ability to redeem their points at the moment of their transaction, users benefit from immediate savings. Premium Payback displays offers at checkout to provide cardholders with instant gratification on their point usage. It does not require users to sign up for new services, download a special app, or anything else that adds friction.

Bilt Rewards was founded in 2021 to offer a loyalty rewards program and credit card that allows renters to earn points when they pay their rent, building credit with every payment. With no annual fee, the Bilt Mastercard credit card also allows cardholders to earn points on select dining experiences, rideshare purchases, and travel purchases. These points can be redeemed for travel, fitness classes, home decor, and even a down payment on a future home.

Bilt anticipates that, with Premium Payback, customers will be able to see their money work more effectively and instantly.

“We are constantly looking for ways to give our members more ways to redeem their points,” said Bilt Chief Strategy Officer Brandt Smallwood. “FIS’ Premium Payback network will allow Bilt Members to redeem their Bilt Points to save on their purchases with some of their favorite merchants in their neighborhood.”

FIS’s Premium Payback solution has thousands of financial institutions representing more than 7,000 card loyalty programs enrolled in its ecosystem. Of the customers enrolled in Premium Payback, 50% redeemed points two-plus times in one year, and 36% increased their spending.

“The current economy is significantly increasing the demand for loyalty programs that maximize the utility of money, but inadequate technology can complicate the experience cardholders have when redeeming loyalty points, hindering the efficient movement of money,” said FIS Head of Products and Services for Loyalty Mladen Vladic. “Credit and debit cards continue to play a leading role in the payment experience as money moves between banks, consumers, businesses and beyond in a complex, never-ending cycle. In the fight for customer loyalty, every payment card program is a vital opportunity to seize competitive advantage and drive growth. We’re proud that FIS Premium Payback can help our clients—like Bilt—accomplish these goals.”

 Photo courtesy Suzy Hazelwood via Pexels

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Streamly Snapshot: The Power of Data Visualization Driven by AI

Streamly Snapshot: The Power of Data Visualization Driven by AI
By Julie Muhn (@julieschicktanz) Posted on
Categories: Speaker series, Streamly

In today’s data-saturated world, the ability to visualize information in a meaningful way is no longer just a nice-to-have—it’s a competitive advantage. Financial institutions, fintechs, and large enterprises are increasingly turning to AI-driven data visualization tools to unlock insights, improve decision-making, and streamline operations.

In a recent conversation on Streamly, Plotly European Sales Director Andy Wisbey shared how organizations can harness the full power of their data using advanced visualization tools. The discussion touched on common pain points financial institutions face when scaling AI, as well as the benefits of enabling cross-functional teams to explore and communicate data insights more effectively.

“What we’ve seen over the last few years is really a move towards more things like GenAI, where perhaps with large language models we’re doing more analysis around predictive analytics. So, we’re trying to predict where the market might go if certain conditions are met. And that really is going to encompass both structured and unstructured data.”

Plotly, best known for its open-source graphing libraries and enterprise-grade data visualization platform Dash, helps organizations turn complex datasets into accessible visual insights. With its low-code capabilities, Dash enables data scientists and business analysts to build powerful, interactive dashboards using Python without needing to rely on front-end developers. Dash Enterprise supports secure, scalable deployments across large teams, making it a popular choice for banks, insurance firms, and governments.

Andy Wisbey brings nearly two decades of experience in enterprise software sales and has a deep understanding of the challenges financial institutions face when trying to operationalize AI. At Plotly, Wisbey focuses on helping clients across Europe use Dash Enterprise to enhance their data storytelling, improve regulatory compliance, and drive innovation. His passion lies in helping organizations bridge the gap between technical teams and business stakeholders through effective data visualization.

Photo courtesy Cottonbro via Pexels

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Plaid’s $575 Million Round Signals Strength Despite Valuation Drop and Delayed IPO

By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Funding, Plaid
  • Plaid raised $575 million in a down round valuing the company at $6.1 billion, which is less than half its 2021 valuation.
  • The funding will support employee restricted stock units tax obligations and provide internal liquidity.
  • Plaid’s delayed IPO likely reflects US open banking uncertainty, as the CFPB finalizes its data access rule. Waiting for regulatory clarity and consumer awareness could position Plaid for a stronger public debut down the road.

Financial data network Plaid announced it has brought in $575 million in a round led by new investor Franklin Templeton, with existing investors NEA and Ribbit Capital, as well as new investors BlackRock and Fidelity, also contributing.

The Venture Round is a sale of common stock; Plaid has directly issued the new shares to raise capital. In a company blog post announcement, Plaid CEO and Co-Founder Zach Perret said that the funds will be used “to address employee tax withholding obligations related to the conversion of expiring restricted stock units (RSUs) to shares, and to offer some liquidity to our current team.”

While today’s funds increase Plaid’s total funding to $1.3 billion, the round revealed a decreased valuation for the California-based fintech. Once valued at $13.4 billion during fintech’s brief hype days of 2021, Plaid’s valuation is currently less than half that, at $6.1 billion.

In explaining the significant gap in valuation to the Financial Times, Perret said, “In 2025, tech multiples have massively compressed between the time that we raised last and today. What I will say is that the fundamentals of the business underneath are dramatically stronger than they were in 2021. Revenue is much higher.”

Plaid’s $575 million comes at a time of growth for the company. Not only did the fintech expand its product suite, but it also saw an increase in organizations building with its account connection tools. In 2024, Plaid boasted positive operating margins, saw a revenue increase of more than 25%, and experienced an increase in both the number companies and markets it serves. As a result, more than 1 in 2 Americans have used Plaid.

​If you are wondering when Plaid plans to IPO, you’re not alone. A company spokesperson told TechCrunch that Plaid will not go public this year, but it plans to continue tracking towards a public listing. “An IPO is certainly a part of the longer-term plan. We have not attached a specific timeline to it,” Perret told the Financial Times. “As I’ve said in the past, it will not be this year.”

Plaid’s decision to hold off on an IPO may also be a strategic move given the evolving state of open banking in the US. Unlike regions such as the UK and EU, where open banking is well-established and governed by clear regulatory frameworks such as PSD2, the US market remains in flux. The Consumer Financial Protection Bureau (CFPB) is currently working toward finalizing its proposed Personal Financial Data Rights rule under Section 1033 of the Dodd-Frank Act, but the lack of formalized standards has created uncertainty for data aggregators like Plaid.

By delaying its public debut, Plaid may be seeking to ride out regulatory headwinds and position itself on more solid ground once clearer guidelines are in place. In addition to regulatory clarity, Plaid may also benefit from a recognition and understanding from mainstream consumers, many of whom have never heard the term “open banking.” Once regulations go into effect, banks will slowly begin in educate consumers on the benefits of open banking, and the concept of the value that Plaid brings will come to light. This regulatory clarity, combined with consumer understanding, could improve investor confidence and support a stronger valuation when the company ultimately decides to go public.

Image courtesy David Clarke via Unsplash


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Rocket Companies Acquires Mr. Cooper for $9.4 Billion

Rocket Companies Acquires Mr. Cooper for $9.4 Billion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Mr. Cooper

Rocket Companies has announced its second acquisition in as many weeks. The Michigan-based company is buying Mr. Cooper, one of the largest non-bank mortgage servicers and mortgage lenders in the US. The deal is expected to close in an all-stock transaction of $9.4 billion in equity value, based on an 11.0x exchange ratio.

Mr. Cooper, which demoed its mobile app at FinovateSpring 2018, was founded in 1994 to challenge the conventional mortgage experience to bring borrowers a better, more straightforward home buying process. With 9,000 employees, the Texas-based company serves more than six million homeowners with its refinancing and mortgage products.

“Mr. Cooper has been on a journey to transform the homeownership experience, and we have built the most advanced servicing platform in the mortgage industry,” said Mr. Cooper Group Chairman and CEO Jay Bray. “By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care. I am deeply grateful for the dedication of the Mr. Cooper team and look forward to our continued work as we lead our industry into the future of homeownership.”

Once finalized, Rocket Companies and Mr. Cooper will serve a combined 10 million clients with a servicing book of $2.1 trillion, which represents one in six mortgages in America. Rocket will leverage the acquisition to bring its mortgage recapture capabilities to this new, enlarged client base. This will help produce higher loan volume, drive long-term client relationships, and provide greater recurring revenue while lowering client acquisition costs.

Holding a significantly larger servicing portfolio will help Rocket sustain its retention and 83% recapture rate. And by attaching Rocket’s title, closing, and appraisal services to Mr. Cooper’s existing originations, Rocket anticipates it will generate $100 million in additional pre-tax revenue, as well as an extra $400 million in savings from streamlining operations, expense, and technology investments.

When the deal is complete, Mr. Cooper Group’s Chairman and CEO Jay Bray will become President and CEO of Rocket Mortgage, while Dan Gilbert will remain Chairman of Rocket Companies. The company’s board will consist of 11 members, nine from Rocket’s board and two from Mr. Cooper’s.

“Servicing is a critical pillar of homeownership—alongside home search and mortgage origination,” said Rocket CEO Varun Krishna. “With the right data and AI infrastructure we will deliver the right products at the right time. That’s how we build lifelong relationships, by proactively unlocking benefits and meeting needs before they arise. We look forward to welcoming Mr. Cooper’s nearly 7 million clients.”

Today’s announcement comes just two weeks after Rocket unveiled plans to acquire real estate brokerage website Redfin for $1.75 billion. Together, the two deals fuel Rocket’s vision of owning the entire homeownership journey—from search to close and beyond.

With Redfin, Rocket gains a home search platform and a network of real estate agents; with Mr. Cooper, it secures a large servicing portfolio and deep operational infrastructure. By consolidating core pieces of real estate and lending processes under one roof, Rocket is positioning itself not just as a mortgage lender, but as a full-stack digital homeownership platform with the potential to recreate how Americans buy, finance, and manage their homes.

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Atomic Raises $10 Million to Boost Innovation and Expansion

Atomic Raises $10 Million to Boost Innovation and Expansion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Atomic FI, Daily news, Funding
  • Atomic has raised $10 million in a strategic round led by Capital One Ventures, Citi Ventures, and FNB Corporation, bringing its total funding to nearly $79 million.
  • Atomic provides APIs that connect payroll and HRIS systems to financial institutions, supporting services like direct deposit switching, income verification, and subscription management.
  • With backing from top banks and FNB as both an investor and a client, Atomic aims to fuel deposit growth and power the next wave of personalized, real-time financial services.

Financial connectivity fintech Atomic is the latest fintech basking in this year’s fintech spring. The Utah-based company announced it has raised $10 million, adding to its $68.6 million previously raised, bringing its total funding to almost $79 million.

Today’s strategic round comes from Capital One Ventures, Citi Ventures, and FNB Corporation, which join Atomic’s previous investors Greylock, Portage Ventures, ATX Venture Partners, Mercato Partners, and Core Innovation Capital.

Atomic, founded in 2019, aims to connect consumer data with modern financial solutions. The company partners with eight of the top 10 US financial institutions, along with many leading fintechs, to provide seamless access to a suite of services—including direct deposit switching, income and employment verification, payment method updates, and subscription management—through integrations with payroll systems, HRIS platforms, and merchants.

Atomic said the new funding will fuel both innovation and expansion. The company plans to deepen its investment in existing solutions while also accelerating the development of new products to better serve its financial institution and fintech partners.

“We’re excited to have these industry leaders join us on our mission to champion upward financial mobility,” said Atomic Co-founder and CEO Jordan Wright. “Together, we’re building the infrastructure that will drive the next generation of financial products and unlock deposit growth, as well as improved experiences for our customers and the customers that work with them.”

In addition to investing in Atomic, FNB is also a client of the fintech. FNB tapped Atomic to lower acquisition costs, increase lifetime value, and become consumers’ primary financial hub.

“Through our omnichannel Clicks-to-Bricks strategy and eStore, FNB is driven to remain a banking industry leader in client engagement and innovation. We will continue to invest in and develop creative technology solutions that bring the full array of banking products and services to our digital platform and branch system,” said FNB Corporation President and Chief Executive Officer Vincent J. Delie, Jr. “Our investment in Atomic is another investment in the future of banking. By integrating their solutions with eStore, we can offer our customers more personalized, real-time financial services that meet their needs in today’s fast-paced world.”

Atomic most recently demoed at FinovateSpring 2024, where the company showcased PayLink, a tool to simplify subscription management by allowing consumers to manage, modify, and optimize their recurring payments and subscriptions within their bank.

Photo by Jakub Zerdzicki

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Chime Launches Chime Workplace, a Financial Wellness Suite

Chime Launches Chime Workplace, a Financial Wellness Suite
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Chime Enterprise launched Chime Workplace, offering employers a single platform with financial wellness tools and an aggregated view of employee financial health.
  • The suite includes tools for income management, savings, credit building, and an employee rewards program modeled after airline miles programs.
  • Chime is expanding its fintech offerings significantly, having recently launched premium memberships, instant micro-loans, and free tax filing to attract underbanked users and enhance financial inclusion.

Chime Enterprise, the enterprise division of the neobank Chime, announced the launch of Chime Workplace, a financial wellness services suite available to employers and employees.

Chime Workplace offers free financial tools with workforce financial health insights for employers. The newly launched platform takes existing Chime tools and brings them to employees via the employer portal. Among the tools included are pay and income management tools, a high-yield savings account, credit health and credit building tools, and an employee rewards program that is modeled after airline miles loyalty programs.

“Employers have told us their biggest frustration with existing financial wellness programs is that they don’t make an impact or empower employees to get to the next step in their journey,” said Chief of Chime Enterprise Jason Lee. “Multiple vendors, logins, and endless apps only compound this problem and, ultimately, hinder effectiveness. Chime Workplace works with employers to solve these challenges by delivering one trusted app that meets employees where they are and gets them to where they want to be.”

While the financial wellness capabilities launching within the employer portal are not new, the employer visibility piece is. The financial health insights piece shows employers aggregated insights into their employees’ financial health, including their savings growth, credit health improvement, and engagement with the tools. These stats can be important for employers, as two out of three workers consider financial health the top area where they seek employer support, and nearly three-quarters of financially stressed employees prefer an employer that genuinely cares for their financial well-being.

Chime Enterprise was formed in 2024 after Chime acquired employee rewards and loyalty platform Salt Labs. Chime simultaneously unveiled news of its own today. The company is launching a premium membership tier called Chime+ that will offer a higher savings rate, custom cashback offers from retailers, and expedited customer support.

These changes come in addition to the California-based company’s launch last week of Instant Loans, a micro-lending product offering up to $500 instantly with a fixed interest rate. Additionally, the company announced a fee-free tax filing service in partnerships with April and Column Tax in January.

Chime is obviously working hard to become a robust competitor in the challenger banking field. Deeper than that, however, the fintech is positioning itself to capture the attention of underbanked individuals. By offering a seamless user experience, financial wellness solutions, and tailored financial products such as micro-loans and workplace financial wellness tools, Chime is strategically aligning itself to attract both employers and employees alike. As Chime continues to diversify its offerings with premium memberships and enhanced app functionality, it’s clear the company aims not only to expand its footprint but also to solidify its role as a trusted partner in helping underserved communities achieve financial stability.

Photo by fauxels

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, Blackhawk Network, DataVisor, Feedzai, Finastra, Fintech Rundown, Fiserv, Highnote, Jack Henry, Marqeta, Ocrolus, Salt Edge, SumUp, Wise

This week marks Eid al-Fitr, the festival celebrating the end of Ramadan and the breaking of a month-long fast. Similarly, the close of this quarter feels like fintech is breaking its own fast, with Klarna filing its IPO prospectus, Rocket Companies announcing major acquisitions of Mr. Cooper and Redfin, and regulatory frameworks beginning to ease in the U.S. As we enter into the second quarter, here’s a look at this week’s fintech news as we leave the time of fasting behind. We’ll continue adding news to this post throughout the week, so stay tuned!

Digital banking

Border Bank chooses Jack Henry for technology modernization.

Y-12 Federal Credit Union upgrades ATM fleet to enhance self-service banking with NCR Atleos.

Lending

Financial services document automation and analysis company Ocrolus announces strategic partnership with digital consultancy Entech.

Finastra‘s cloud-based loan document preparation system LaserPro unveils enhanced features and sees further adoption by community-based financial institutions.

Business financial management

Tesorio launches AI agent that autonomously manages portal-based invoicing.

Enterprise spend management platform Mendel closes $35 million Series B round led by Base10 Partners with participation from PayPal Ventures.

Open Banking

Backbase now enables customers to integrate open banking compliance solutions from Salt Edge.

Mortgagetech

Rocket Companies agrees to acquire Mr. Cooper Group in an all-stock transaction for $9.4 billion.

Payments

Ingo Payments chooses card issuing platform Marqeta as its issuer processing partner.

SumUp and FreedomPay partner to enhance payment capabilities for retail and hospitality sector businesses.

Wise Platform teams up with Brazilian bank, ItaĂş Unibanco, to enable instant global currency transfers.

PayJunction integrates with Zapier to help businesses build custom payment workflow automations.

Payments and financial services technology provider Fiserv launched Clover, its point-of-sale system and software platform, in Australia.

Viamericas launches open payment network in the Philippines.

Fraud prevention

Fraud and risk platform DataVisor introduces its first Chief Operating Officer, Tony Kueh.

Highnote teams up with Feedzai to integrate AI-powered fraud prevention technology into its acquiring business.

Loyalty and rewards

Rewards and branded payments provider Blackhawk Network partners with consumer loyalty program company Exchange Solutions.

Crypto and Defi

Crypto payments firm MoonPay unveils new Recurring Buys feature to enable customers in the US to automate repeat cryptocurrency purchases.

Wealth management

Global wealth platform Arta Finance launches its intelligent suite of AI agents, Arta AI.

Photo by Thirdman

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Lloyds and Taulia Team Up to Offer Virtual Payment Cards

Lloyds and Taulia Team Up to Offer Virtual Payment Cards
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Taulia
  • Supply chain finance fintech Taulia partnered with Lloyds to embed Visa-enabled Virtual Cards into SAP Business Suite solutions, streamlining supplier payments.
  • Businesses using Taulia’s platform will be able to issue virtual cards globally through Lloyds, enhancing automation, cash flow visibility, and payment efficiency.
  • This collaboration builds on Taulia’s previous partnership with Visa, further integrating modern digital payments directly into enterprise resource planning (ERP) systems.

Supply chain finance fintech Taulia announced this week that it has partnered with Lloyds to issue Visa-enabled Virtual Cards. Taulia will embed the new virtual card offering across a range of its SAP Business Suite solutions.

“We are passionate about helping businesses unlock new value streams and our clients are fast recognizing the efficiency and financial benefits of deploying virtual cards for supplier payments,” said Lloyds Head of Commercial Cards Linda Weston. “We are thrilled about our partnership with Taulia as it enables truly embedded B2B payments processes in the SAP technology eco-system, making it easy for clients to adopt virtual payments and realise their strategic objectives.”

Taulia was founded in 2009 to help companies make use of cash tied up in their payables, receivables, and inventory. The company, which was acquired by SAP in 2022, maintains a network of 3+ million businesses to fuel its clients with more working capital. 

Taulia customers who have purchased its Virtual Cards solution can receive credit from Lloyds and issue virtual cards to their suppliers across the globe. The embedded Virtual Cards solution can be seamlessly integrated into non-financial platforms, allowing businesses to offer a better customer experience that will enhance automation, cash flow visibility, and payment efficiency.

Taulia will leverage Visa’s APIs to integrate Visa virtual payment credentials, acceptance solutions, and supplier enablement services into the end-user’s ERP applications.

“Embedding virtual cards directly within the ERP landscape and having Lloyds as an issuing partner is a game-changer for corporate payments,” said Taulia Chief Product Officer Danielle Weinblatt. “This collaboration redefines how businesses manage spend, bringing greater control, automation, and working capital optimization directly into their existing workflows. By seamlessly integrating virtual cards into enterprise systems, we are not only streamlining payments but also empowering companies to unlock liquidity, enhance cash flow intelligence, and modernize their financial operations—driving smarter, more agile growth in an evolving global economy.”

This partnership comes a year after Taulia first announced it had partnered with Visa to embed Visa’s digital payments technology into its Virtual Cards offering. “By partnering with Taulia, we create synergies in working capital management and the enablement of a world class ERP provider,” Visa SVP, Global Head of Large, Middle Market Segments and Working Capital Solutions Alan Koenigsberg said in the announcement last year.

Photo by Dom J

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Robinhood’s New Private Banking Offering is Missing One Key Element

Robinhood’s New Private Banking Offering is Missing One Key Element
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Robinhood announced Robinhood Strategies, Robinhood Cortex, and Robinhood Banking, introducing AI-powered investment insights and premium banking services for Gold members.
  • Robinhood Banking, launching this fall, will offer private banking perks such as global currency transfers, luxury benefits, and up to $2.5 million in FDIC insurance, challenging established private banking providers.
  • Currently lacking a banking charter, Robinhood partners with Coastal Community Bank. Obtaining its own banking license could help it directly control offerings, reduce costs, and compete more effectively with legacy financial institutions.

At an event in San Francisco last night, digital stock brokerage app Robinhood unveiled plans for a new method of portfolio management, an AI investment tool, and a private banking offering. The new offerings come with exclusive benefits for Robinhood Gold members.

“Our goal is for Robinhood to give you a world-class financial team in your pocket, with cutting-edge tools you can’t find elsewhere,” said Robinhood CEO Vlad Tenev.

The three new products announced include Robinhood Strategies, Robinhood Cortex, and Robinhood Banking. Robinhood Strategies is a wealth management tool that offers investors more control, managed accounts, and an interactive portfolio. Robinhood Cortex is an investing tool that leverages AI to provide real-time analysis to help navigate the markets, identify opportunities, and stay up to date on news.

Much of the buzz surrounding the event seems to be focused on Robinhood Banking, and for good reason. Set to launch later this year, the new offering aims to bring the private banking experience to Robinhood Gold members. Along with traditional checking and savings accounts, members can also expect to receive “luxury benefits.” Among the differentiating factors of the new accounts, which offer up to $2.5 million in FDIC insurance, are the ability to send money across the world in 100+ currencies, access estate planning and professional tax advice, receive a physical delivery of cash to your doorstep, and access exclusive perks such as tickets to events like the Met Gala, Oscars, F1 Monaco Grand Prix, The Masters, and more, as well as private jet travel, private chauffeurs, luxury helicopter rides, and members-only vacation clubs. 

Robinhood Banking will launch this fall and will offer individual and joint accounts with the option to add children’s accounts with allowances and spending limits. When the banking services go live, the Robinhood Credit Card app will become the banking app and the credit card, checking, and savings will all live in one place. 

The launch of Robinhood Banking will place the company in competition with Morgan Stanley, Charles Schwab, and others that provide private banking services for a fee. And while Robinhood charges just $5 per month for its service, the fintech is missing one crucial element to becoming a fully-fledged bank: a banking license. Robinhood withdrew its application with the OCC for a bank charter in 2019 and has since partnered with Coastal Community Bank to provide banking services behind the scenes.

If (or perhaps when) Robinhood does prioritize obtaining its banking license, it will benefit by gaining more direct control over its banking operations, significantly reducing reliance on third-party banks. This move would allow Robinhood to cut costs, offer a wider range of banking products, and quickly adapt and innovate its offerings in response to market demands or customer feedback. Most importantly, having a banking charter would strengthen Robinhood’s credibility and competitive positioning among legacy financial institutions, empowering it to potentially expand beyond its current target demographic of younger investors into the broader retail banking market.

Today’s announcement comes two years after Robinhood acquired credit card company X1 for $95 million and one year after the California-based company unveiled its own credit card, the Robinhood Gold Card. Since then, the waitlist for the card has grown to nearly three million people. The company has rolled out the card to more than 100,000 people, and plans to launch it to another 100,000 people on the waitlist.

“With Robinhood Banking, we’re trying to solve many of the challenges presented by legacy banks,” said Robinhood Money GM and VP Deepak Rao. “Robinhood Banking is thoughtfully designed to be as easy to use as possible, while still delivering cutting-edge features historically reserved for the ultra-wealthy. We’re pushing the boundaries of what you should expect from your bank.”

Photo by Thirdman

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5 Key Takeaways from Trump’s Payments Modernization Initiative

5 Key Takeaways from Trump’s Payments Modernization Initiative
By Julie Muhn (@julieschicktanz) Posted on
Categories: List series

Yesterday, Donald Trump signed an Executive Order (EO) to modernize the U.S. payments system by phasing out paper checks. The EO mandates that the Federal government will stop issuing paper checks for all disbursements starting September 30, 2025.

The EO, which is targeting waste, fraud, and abuse, will offer both banks and fintechs opportunities and challenges as they seek to bring digital banking to underbanked consumers who need to send payments to and receive payments from the federal government.

So as you begin your second quarter planning initiatives, here are a few things you’ll need to know about this week’s Executive Order.

Real time payments become solidified

Banks’ adoption of FedNow and The Clearing House’s RTP is increasing, and so are consumer expectations for faster fund transfers. This week’s EO stipulates the move to “fast, electronic payments,” which will change the expectations of even underbanked and elderly populations that rely on government monetary benefits.

Heightened emphasis on payment security and fraud prevention

The Fact Sheet detailing the EO specifically cites security and fraud prevention as major reasons for modernizing US payments. “President Trump is cracking down on waste, fraud, and abuse in government by modernizing outdated paper-based payment systems that impose unnecessary costs, delays, and security risks,” the Fact Sheet said. The move will ultimately bring stricter standards to government payments and will help foster consumer trust.

A shift toward digital identity verification

As payments digitize, reliable identity verification methods will become increasingly crucial. While bringing payments into the digital space will help boost KYC and AML verifications, it will also offer opportunities for fraudsters to create new scams. As an example, non-digitally native consumers may be more likely to fall victim to phishing attacks that they perceive to be payments from the federal government.

Not everyone is required to make the change

The EO states that exceptions will be made for people without banking or electronic payment access, in specific emergency payments cases, for certain law enforcement activities, and for other special cases that qualify for an exception.

Consumer awareness is key

The EO explains that, prior to the September 30 deadline, the government will initiate a comprehensive public awareness campaign to inform federal payment recipients of the shift to electronic payments. Banks should work alongside these campaigns with public awareness initiatives of their own to offer guidance on setting up digital payments and mitigating fraud.

Overall, this new EO represents a significant opportunity for banks and fintechs. By accelerating the shift to digital payments, the EO underscores the value of digital-first strategies and positions banks in a great place to attract new customers who previously relied on paper checks.

Banks and fintech companies that proactively support consumers during this transition—through seamless onboarding, education, fraud prevention, and robust digital identity verification—can strengthen their market position, deepen customer relationships, and foster long-term trust. Ultimately, the shift away from paper checks will reinforce existing efforts toward financial inclusion, drive consumer adoption of digital tools, and encourage innovation across the payments landscape.

Photo by Money Knack on Unsplash

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