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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Reputation is both an asset and a liability across every sector. This is especially true for financial institutions, as they rely heavily on consumer trust. However, in an era when the speed of information is accelerating, so is the risk of misinformation, public missteps, or brand erosion. In this Streamly interview, Valentina Kristensen, Corporate Affairs Director at OakNorth, joins us to share how banks and fintechs can strategically manage their reputations amid growing scrutiny from customers, media, and regulators.
During our conversation, which was recorded at FinovateEurope, Kristensen offers insight into how financial institutions can proactively build trust, respond to reputational threats, and create a culture of transparency, even in times of crisis. Her experience working across corporate affairs, media, and policy gives her a well-rounded perspective on the importance of reputation in shaping long-term business value.
“The first rule in a crisis is ‘don’t have a crisis,’ so effective planning is always crucial and as a regulated bank we have to do a lot of planning… So I think a lot of it is preparation and if you can avoid a crisis, then great. Obviously a lot of that comes from doing the right thing or making sure that your team are doing the right thing.”
Valentina Kristensen has been a leading voice in fintech communications and policy for nearly a decade. At OakNorth, she helps shape the bank’s narrative, build strategic relationships, and ensure that the company’s messaging reflects its values and mission. She frequently speaks on topics such as financial innovation, regulation, and the importance of building resilient, people-centric financial institutions.
OakNorth is a UK-based digital bank that serves growth-minded small and medium-sized businesses. Known for its tech-forward approach to credit decisioning, OakNorth combines machine learning with deep sector insights to deliver faster, more flexible lending. With a strong emphasis on responsible innovation and long-term partnerships, the company has become a standout in the challenger banking space, both for its performance and its reputation.
Klarna and Clover are teaming up to bring Klarna’s BNPL options to over 100,000 in-store merchant locations across the US.
Shoppers will be able to pay in installments directly at the POS, expanding BNPL from online-only into brick-and-mortar retail.
The move signals Klarna’s continued momentum in the US market amid a pause in its IPO plans.
Payments innovator Klarna has teamed up with point-of-sale (POS) platform Clover this week. The two have signed an agreement to auto-enable Klarna’s flexible buy now, pay later (BNPL) payment options in brick-and-mortar stores in the US.
By integrating Klarna into its devices, Clover will offer shoppers the option to use Klarna for in-store purchases. The Klarna logo will appear on the pre-screen of payment terminals, allowing customers to select from a range of flexible payment options, including the ability to pay in four installments or choose interest-free financing plans.
“We’re bringing Klarna to Main Street,” said Klarna Chief Commercial Officer David Sykes. “Klarna started by changing how people pay online—now we’re changing how they pay everywhere. With Clover, we’re meeting shoppers where they are and giving small businesses a powerful new way to grow.”
Clover was founded in 2010 to help small businesses accept payments. Today, the company serves as a one-stop shop for multiple payment needs. In addition to offering a range of payment acceptance terminals, Clover also has software to help businesses with online orders, accounting, loyalty programs, staff management, inventory, and more. Clover was acquired in 2012 by First Data, which was acquired by Fiserv in 2019.
“Clover is excited to join forces with Klarna to leverage our strong presence across US services and retail, to power and engage consumers at key moments—before, during, and after checkout,” said Fiserv Head of Merchant Solutions Jennifer LaClair.
Klarna’s flexible payment options will initially be available at over 100,000 merchant locations through Clover’s point-of-sale devices. A larger rollout is set to begin in early 2026 and will extend to both new and existing Clover merchants across the US. Following the in-store launch, Klarna and Clover plan to expand their partnership into the e-commerce space, offering online merchants the same seamless, flexible payment experiences.
BNPL has historically thrived online, but this move reflects Klarna’s ambition to make BNPL a standard option at the physical point of sale. As major POS providers like Clover embed BNPL directly into in-store checkout experiences, the line between fintech and legacy payments continues to blur. This collaboration not only brings Klarna into more physical retail spaces but also signals a broader shift in consumer expectations, where flexibility, transparency, and choice at checkout are becoming table stakes.
Interestingly, this announcement also comes at a time when Klarna is strategically ramping up its public presence in preparation for going public. While the company postponed its IPO plans just last week, its partnership with Clover signals a continued effort to showcase global momentum and product innovation in the US. Teaming up with a major POS player like Clover allows Klarna to emphasize its omnichannel capabilities and demonstrate strong institutional relationships, both of which are key narratives for attracting investor confidence when it eventually heads back to the public markets.
Student loan benefits platform Tuition.io has received an undisclosed amount of debt financing from ORIX Corporation USA’s Growth Capital business. This marks Tuition.io’s sixth investment, adding to its five equity rounds that total $15.2 million.
Tuition.io was founded in 2011 to help graduates pay off their student loans while giving businesses a strategic differentiator to improve hiring and employee retention. The company debuted as a direct-to-consumer offering to help student loan borrowers view, understand, and compare their debt and get customized restructuring plans. Today, Tuition.io enables businesses to provide student loan repayment assistance, 529 plan contributions, and tuition reimbursement through a single, customizable interface.
“Partnering with ORIX USA marks a significant milestone for Tuition.io as we expand our mission to make education benefits more accessible and impactful for employers and their workforces,” said Tuition.io COO and CFO Scott Simmons. “This investment enables us to accelerate innovation, reach more organizations, and empower employees with the resources they need to thrive in their careers. We’re excited about the opportunities ahead and the support of ORIX USA to help drive our vision forward.”
ORIX USA’s Growth Capital business was founded in 2001 and has since provided $2.7 billion in funding to 200 companies in a range of sectors from biotech to energy.
“We are excited to partner with Tuition.io as they continue to transform the way employers support their workforce through education benefits,” said ORIX USA’s Growth Capital Business Director Austin Szafranski. “With student debt remaining a critical issue for employees nationwide, Tuition.io’s platform provides a meaningful solution that helps companies attract and retain top talent. We look forward to supporting their growth and impact in the marketplace.”
Not only does ORIX USA Growth Capital’s investment signal a vote of confidence in student loan repayment technologies, but it also shows strong interest in workforce benefits. As traditional compensation packages evolve to meet modern employee needs, debt financing deals such as this one point to increasing investor confidence in HR tech solutions with long-term impact.
Checkout.com plans to launch card issuing services in the UAE by 2026, allowing businesses to create branded virtual and physical cards, pending regulatory approval.
The move supports the UAE’s 2031 Agenda to drive digital innovation and financial services growth across the region.
Checkout.com continues expanding its MENA presence, following milestones like securing its Retail Payment Services license and bringing Mada (Saudi Arabia’s National Payment Network) and Apple Pay to UAE and KSA merchants.
Payments service provider Checkout.comannounced plans this week to expand its card issuing capabilities in the UAE, marking the first time the company will offer this service in the region.
The UK-based fintech says it will roll out domestic card issuance in the UAE in 2026. The rollout, however, is still waiting and dependent on regulatory approval. Once it goes live in the UAE, Checkout.com will enable businesses to launch branded virtual and physical cards, power customer rewards, streamline expenses, and offer business-to-business payouts.
“As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy,” said Checkout.com MENA General Manager Remo Giovanni Abbondandolo. “The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it.”
Founded in 2012, Checkout.com is a global payments platform that empowers businesses to accept, process, and manage payments seamlessly. Through its unified payments network, Checkout.com enables organizations to accept payments locally and internationally with global acquiring capabilities. The company also offers a suite of services, including card issuing that allows businesses to create and manage their own payment cards, advanced risk management tools to optimize performance and reduce fraud, and treasury management services to streamline cash flow and reconciliation.
Checkout.com obtained its Retail Payment Services license from the Central Bank of the United Arab Emirates in 2023. Since then, it has brought Mada (Saudi Arabia’s National Payment Network) and Apple Pay to merchants across the UAE and KSA.
Today’s announcement supports the UAE’s broader vision to be a leader in digital transformation and financial innovation. As part of its UAE 2031 Agenda, the country aims to create a competitive, knowledge-based economy driven by advanced technology, including in its financial services sector. Checkout.com’s expansion into card issuing aligns with these national goals by offering businesses more flexible, digital-first payment solutions. “With bold moves like Saudi’s Vision 2030 and the UAE’s 2031 Agenda, MENA is fast becoming a global standard for digital transformation,” added Abbondandolo, underscoring how the region’s strategies are shaping the future of commerce and payments.
Fiserv has acquired Australia-based PayFac Pinch Payments to strengthen its digital payments offerings and expand its merchant reach across the Asia Pacific region.
Pinch’s cloud-based SaaS platform and PayFac expertise will help Fiserv deliver more flexible solutions for PayFacs, ISVs, BPSPs, ISOs, and enterprise clients.
Terms of the deal were not disclosed.
Payments innovator Fiserv has acquired Australia-based payment facilitator (PayFac) Pinch Payments for an undisclosed amount.
Fiserv anticipates that bringing Pinch into its ecosystem will help it offer more flexible options for PayFacs, ISVs, BPSPs, ISOs and enterprise clients. Pinch will enhance Fiserv’s reach with its access to a greater number of merchants. It will also help fuel Fiserv’s delivery of new payments solutions such as Pinch’s cloud-based SaaS business operating platform for merchants across Asia Pacific.
“This acquisition further demonstrates Fiserv’s commitment to the local payments market, following our recent launch of Clover in Australia,” said Fiserv Head of Australia Gavin Jones. “By integrating our leading digital payments solutions with Pinch’s innovative technology and local expertise, we are able to deliver innovative payment solutions to empower merchants across the APAC region. We welcome the Pinch associates to the Fiserv family and are committed to seamless integration of services for our customers.”
Pinch was founded in 2017 and currently serves 2,000 merchants throughout Australia and New Zealand. The company is best known for its PayFac enablement and its management platform Glassbox. The company serves both enterprises and small businesses, and also offers a developer API, providing a comprehensive set of tools to help businesses facilitate payments more efficiently at scale.
“Joining Fiserv is an incredible opportunity for the Pinch team and furthers our mission to provide seamless partner experiences to a growing number of merchants,” said Pinch Payments Co-Founder and CEO Paul Allen. “Having worked closely with the Fiserv team, I am confident in our roadmap to expand into new markets.”
The acquisition of Pinch Payments highlights a broader trend in the payments industry as demand grows for faster, more flexible, and embedded payment experiences. Traditional card-based transactions are increasingly being challenged with alternative payment methods such as pay-by-bank, in which consumers make direct, account-to-account transfers without the need for a card network. This shift is being driven by the rise of open banking and a push for lower-cost, real-time payment options.
As businesses and consumers across the Asia Pacific region look for more efficient ways to move money, partnerships and acquisitions like this one position companies like Fiserv to offer a wider range of solutions for customers in more geographies. With PayFac enablement, cloud-based platforms, and emerging capabilities like pay-by-bank, the payments landscape is now offering more speed, transparency, and options.
Galileo launched Deposit Sweep to help fintechs extend FDIC insurance protection and offer higher interest earnings by partnering with a network of banks.
The tool automates the movement of funds across banks once a balance hits a set threshold to maximize interest earnings and secure more funds.
The launch of Deposit Sweep comes in response to rising concerns around deposit safety post-Silicon Valley Bank collapse, helping fintechs protect customer funds beyond the traditional $250,000 limit.
SoFi-owned Galileounveiled a new tool today called Deposit Sweep, designed to help fintechs and their sponsor banks offer customers extended FDIC insurance protection beyond the $250,000 limit. The tool makes it easier for fintechs to safeguard deposits beyond the traditional coverage limit while helping customers earn more interest on their balances.
Deposit Sweep connects fintechs with a network of participating banks through a leading deposit sweep provider. It enables them to select partner banks based on factors like pricing, regulatory requirements, operational needs, and interest rates, which can offer customers a secure, streamlined way to protect and grow their funds.
“Galileo Deposit Sweep empowers fintechs to deliver more competitive returns for their customers by leveraging a network of participating banks and a deposit sweep provider,” said David Feuer, CPO at Galileo. “This solution enables fintechs to offer better interest rates without increasing operational complexity.”
Deposit Sweep can be easily integrated with a customer’s existing systems, and it can automate the movement of funds once the balance reaches a predefined threshold. Fintechs can offer Deposit Sweep as an opt-in service or automatically enroll all accountholders, who will still be able to view their full balances while funds and interest earnings transfer seamlessly in the background.
Founded in 2001, Galileo offers a payment processing platform that allows third-party fintechs and businesses to build and scale their own financial services offerings. The company, which was acquired by SoFi in 2020 in a $1.2 billion deal, powers a range of fintech and banking solutions, including digital banking, credit and debit card issuing, and money movement services. With the addition of Deposit Sweep, Galileo is further expanding its suite of products designed to help fintechs deliver more secure, competitive, and customer-friendly financial experiences.
Among Galileo’s customers is business banking platform Bluevine, which is currently piloting Deposit Sweep. “Working with Galileo to enable Deposit Sweep was seamless, allowing us to quickly bring the benefits of increased FDIC insurance and higher returns to our customers,” said Bluevine CPO Herman Man. “Our business customers rely on us for security and value, and Galileo’s support has been instrumental in enhancing our offerings and delivering on that promise.”
The launch of Deposit Sweep comes at a time when deposit security is top of mind for fintechs and their customers. The collapse of Silicon Valley Bank in 2023 highlighted the risks of holding large, uninsured deposits at a single institution. By making it easier to spread funds across multiple banks and extend FDIC coverage, Galileo’s Deposit Sweep addresses a key lesson from the Silicon Valley Bank fallout. Many fintechs learned that ensuring that customer funds is protected beyond traditional insurance limits is no longer just a value-add, but a necessity.
Credit unions are entering a new era, fueled by a combination of necessity, opportunity, and partnership. As the pace of the digital world accelerates, these community-focused organizations have increased their willingness to lean in and adopt new technologies. They are no longer simply seeking to compete with banks, but they are instead seeking to deliver the personalized, community-driven service that has always differentiated them. New fintech partnerships are helping credit unions modernize operations, meet rising member expectations, and stay resilient in a rapidly evolving financial landscape.
This collaborative approach isn’t new to credit unions, rather, it’s part of their DNA. “Credit Unions have always been collaborators,” said Ami Iceman Haueter, Chief Research and Digital Experience Officer at Michigan State University Federal Credit Union. “We’ve had to be creative and scrappy to stay relevant and competitive in a crowded market. Fintech partners are a natural fit for this collaboration. Many allow us to personalize our service or products to our members and create a custom mix of solutions to go all in for our members. That’s what we do best. Having partners that are equally committed to that vision is invaluable. It’s what will carry us forward as an industry allowing us to continue showing up for our communities.”
The environment today is ripe for credit unions to take full advantage of this collaborative mindset. The combination of heightened member expectations, accessible new technologies, and a fintech community eager to partner has created a unique moment of opportunity. Below, we’ve highlighted four key reasons why credit unions have become some of the most active adopters of fintech innovation.
Tech integration is now compulsory
Credit unions now have to engage because involvement in certain technologies has become table stakes in the banking world. Over the past few years, the baseline expectations for banking services have shifted dramatically. Real-time payments, mobile-first experiences, and frictionless, digital onboarding are no longer differentiators, they’re requirements. If credit unions want to remain competitive and retain younger members, they must adopt similar digital tools that big banks and fintechs have. In 2025, falling behind on technology isn’t just a risk to growth; it’s a risk to survival.
More credit union-specific fintechs
The fintech ecosystem has matured immensely since the first bank launched online in 1994. Today, many providers are now creating solutions designed specifically for the unique needs of credit unions. From specialized digital lending platforms to member-centric financial wellness tools, fintechs are recognizing credit unions as an important, underserved market. This tailored approach makes partnerships more attractive and accessible, helping credit unions stay up-to-date on the latest tech trends.
Embedded finance is the ultimate enabling force
Embedded finance has made it easier for credit unions to leverage third-party technologies without needing in-house technical expertise. Gone are the days when integrating new technology required a complete overhaul of a credit union’s core system. Today’s embedded banking models allow credit unions to “plug and play” fintech solutions into their existing infrastructure. Because of this, these smaller players can offer services like buy-now-pay-later, upgrade their digital account opening workflows, or launch a new mobile app with a fresh look. Overall, embedded solutions allow credit unions to deliver tech-forward experiences without the burden of in-house development.
Regulatory clarity has eased pressure
Regulatory clarity and eased regulatory scrutiny has reduced barriers to forming partnerships with fintechs. As regulators have become more familiar with fintech partnerships, clearer guidelines and frameworks have emerged to support innovation in the credit union space. New charters, sandbox programs, and cooperative frameworks help credit unions explore partnerships more confidently. With better guidance in place, credit unions can engage with fintechs without facing the regulatory uncertainty that once made these partnerships seem too risky.
All of these aspects, and more, will be on full display at FinovateSpring, which takes place May 7 through 9 in San Diego.
If you’re attending next month’s event, don’t miss a special session designed exclusively for your credit union. TheCredit Union Spotlight: Closed Door Session will take place on Wednesday, May 7, from 3:20 to 4:50, and will offer the opportunity to meet companies that are building technology specifically for the credit union ecosystem. Each company will provide a short introduction, followed by roundtable discussions where you can dive deeper into their solutions. If you’re interested in joining, please email [email protected]. Please note that space is limited and subject to approval.
Ripple will acquire Hidden Road for $1.25 billion, making it the first crypto company to own and operate a global, multi-asset prime broker.
The acquisition expands Ripple’s offerings beyond payments into trading, custody, and lending services, providing financial institutions the infrastructure they need for crypto adoption.
Between recent regulatory shifts in the US and Hidden Road’s capabilities, Ripple is positioning itself to become a full-service financial hub as digital assets gain mainstream traction.
Blockchain and crypto solutions company Rippleannounced plans to acquire multi-asset prime brokerage company Hidden Road for $1.25 billion. The deal will make Ripple the first crypto company to own and operate a global, multi-asset prime broker.
Hidden Road was founded in 2019 to offer financial institutions a one-stop-shop of services such as clearing, prime brokerage, and financing across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income. The UK-based company clears $3 trillion annually across markets with more than 300 institutional customers.
Hidden Road anticipates that being backed by Ripple will exponentially expand its capacity to service firms in its pipeline. “With new resources, licenses, and added risk capital, this deal will unlock significant growth in Hidden Road’s business, allowing us to increase capacity to our customer base, expand into new products, and service more markets and asset classes,” said Hidden Road Founder and CEO Marc Asch. “Together with Ripple, we’re bringing the same level of trust and reliability that institutional clients are accustomed to in traditional markets—designed and optimized for a digital world.”
For Ripple, buying Hidden Road will make it a major back-end infrastructure provider for big investors trading digital assets. The company will not just offer crypto payments, but also trading, borrowing, and custody services.
“We are at an inflection point for the next phase of digital asset adoption–the US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance,” said Ripple CEO Brad Garlinghouse. “With these tailwinds, we are continuing to pursue opportunities to massively transform the space, leveraging our position and the strengths of XRP to accelerate our business and enhance our current solutions and technology.”
There are a few reasons why this acquisition is a huge deal for both Ripple and decentralized finance. First, it will help Ripple move beyond payments into full-scale financial services. The company, which is best known for cross-border payments using XRP, will now be able to offer trading, custody, and lending, which is the essential “plumbing” that institutional investors rely on.
Second, Hidden Road gives Ripple the infrastructure that institutions need to trade crypto confidently. By bundling execution, clearing, custody, and credit services all together, hedge fund and asset managers will be more likely to move more funds into crypto.
Finally, the acquisition positions Ripple as a strong player as US markets shift toward a more friendly crypto stance. Last week, the SEC published its official statement on stablecoins, ruling that they are generally not considered securities as long as they are pegged to USD and aren’t used or marketed for investment purposes.
With all of these aspects combined, the timing of today’s acquisition is ideal. Hidden Road will help Ripple become a full-service financial hub for crypto just as institutions are starting to take digital assets seriously again. It’s also a reminder that the structure of the future of finance will not look like it does today. Instead, it will likely be built on blockchain and driven by AI.
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.
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 AKUVOlanded 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.
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.”
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.
