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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Fintech was relatively busy last week, and so was the Finovate events team. FinovateSpring makes its San Diego debut next week, kicking off on May 7, and our speaker roster is fabulous! Here’s a look at more of this week’s fintech news. We’ll continue adding news to this post throughout the week, so stay tuned!
Payoneerinvests $2 million over the next three years to support Endeavor, the Global Network of Trust of, by and for entrepreneurs.
Finzly’s AWS-powered platform Payment Galaxycompletes a benchmarking initiative in collaboration with AWS, validating that it can handle large transaction volumes.
Versapaynames Elizabeth Bramlage as Chief Marketing Officer.
Digital banking
NuMark Credit Union selectsAlkami to power its digital banking platform.
Nubank’s Mexico arm receives regulatory approval from the Mexican National Banking and Securities Commission to begin the process of becoming a full-service bank.
Amplify Credit Union has partnered with Illuma to implement IllumaShield voice authentication, enhancing security and streamlining member verification.
IllumaShield’s passive audioprint technology verifies callers without security questions or special passphrases, leading to faster call center interactions and higher enrollment rates.
By automating identity verification, Amplify Credit Union expects to reduce call handle times, cut operational costs, and deliver a more seamless, trusted member experience.
Voice authentication solutions provider Illuma formed a strategic partnership with Amplify Credit Union this week. The Texas-based credit union selected Illuma for its IllumaShield caller authentication technology.
“Security and member experience are top priorities for Amplify Credit Union,” said Amplify Credit Union Chief Experience Officer Stacy Armijo. “Partnering with Illuma allows us to enhance both by implementing state-of-the-art voice authentication technology, ensuring that our members can access their accounts securely and effortlessly.”
IllumaShield helps banks and credit unions verify callers with its audioprint technology that continuously analyzes the unique characteristics of a caller’s voice and device using advanced signal processing, machine learning, and AI. This passive authentication eliminates the need for security questions or spoken pass phrases.
When a consumer calls into a call center using IllumaShield, they can complete enrollment simply by saying “yes” and continuing the conversation. The system does not require them to call into a specific line, wait on hold, or repeat a special phrase. As a result of the straightforward experience, Illuma reports that more than 95% of callers invited agree to enroll.
By automating the verification process, Amplify Credit Union can not only reduce call handle times but also lower operational costs associated with manual identity verification. At the same time, members benefit from a faster, frictionless experience that builds trust and loyalty.
Headquartered in Plano, Texas, and founded in 2016, Illuma specializes in voice authentication solutions for credit unions and community banks. Its flagship product, IllumaShield, is currently deployed at financial institutions across the U.S., helping streamline operations while strengthening fraud defenses.
Illuma is among the companies demoing their latest technologies at FinovateSpring 2025 on May 7 through 9 in San Diego. Check out more details or register today.
BILL is expanding beyond payments by launching new procurement tools that unify accounts payable, receivable, expense management, forecasting, and payments into one centralized platform for small businesses.
The new release offers features like advanced approval routing, invoice matching, and bulk payments.
With the launch, BILL positions itself as a financial command center for SMBs, offering a holistic alternative to point solutions like Ramp by delivering integrated, customizable, and scalable cash flow management.
Small business financial software provider BILLunveiled new procurement capabilities this week. The California-based company is releasing new tools to help businesses and accountants take control of their cash flow. Adding this well-rounded set of procurement capabilities signals BILL’s intent to move beyond payments into a broader role as a small business financial command center.
BILL is enhancing its platform with new procure-to-pay capabilities, and bringing accounts payable, accounts receivable, payment cards, expense management, insights, and forecasting in a single solution. The additional procurement tools will enable businesses to efficiently manage, approve, and track purchase orders with greater accuracy. Features like advanced approval routing and automated invoice matching will help reduce fraud risk and payment errors, while streamlining workflows to minimize manual effort and increase operational efficiency.
While other platforms, such as Ramp, focus on specific elements of small business financial operations, BILL differentiates itself with a holistic approach that combines procurement, payments, and forecasting in one platform. Consolidating all of a business’ needs into one platform not only streamlines operations but also reduces the need for third-party add-ons and disjointed data reconciliation between systems.
“Our expansion into procurement reinforces how BILL is driving innovation and setting new standards for helping businesses and accountants to manage and control their cash flow, eliminate ‘busy work’, and make strategic decisions that drive long-term growth and success,” said BILL Founder and CEO René Lacerte.
The three new capabilities BILL is releasing include BILL Multi-Entity, which enables businesses and accounting firms to manage payments across multiple organizations from a single, centralized platform; the BILL API Platform, which allows businesses and accountants to tailor financial workflows to meet their own needs; and a bulk payments option that will save businesses time and money by paying thousands of bills at a time.
The new capabilities will allow, for example, a multi-location accounting firm to route purchase approvals through custom rules for each entity while managing all payments from a single dashboard. This reduces manual tracking, improves compliance, and frees up teams to focus on higher-value tasks.
“In an uncertain environment, control and visibility of cash flow is not only key to efficiency—it’s one of the most powerful levers a business has to be more resilient. Legacy spreadsheets and disparate tools are costing American businesses time, money and opportunity, and BILL is the only technology partner delivering more control, more value and more innovation SMBs need and deserve,” added Lacerte.
Founded in 2006, BILL helps 460,000 businesses automate their financial operations and has processed $266 billion in payments volume. The company, which trades on the New York Stock Exchange under the ticker BILL, went public in 2019 and has a market capitalization of $4.55 billion.
AI is reshaping not just products but the very way product teams operate. To explore how the rise of AI is changing the role of the product manager, we sat down with Senior Tech Product Lead Bhoomika Ghosh. to get a better idea of the necessary balance between data and human intuition, and what ethical leadership looks like in the AI era.
A passionate technologist with a background spanning engineering, consulting, and product management, Ghosh has led product innovation at the intersection of AI/ML and customer experience. Her fascination with technology’s ability to solve human challenges began early in her career, wherein as an undergraduate, she developed an application that transformed 2D MRI slices into 3D models, helping doctors accurately identify tumor locations and volumes. This early venture sparked Ghosh’s passion for building technology that creates meaningful impact efficiently, and at scale.
We’re thrilled to feature her insights ahead of her appearance at FinovateSpring, where she will speak on the panel exploring gender diversity and responsible AI leadership.
AI is changing how products are built, but how is it changing how product managers operate?
Bhoomika Ghosh: The evolution of product management in this AI era has been nothing short of transformative. While our north star as a product manager (PM) remains unchanged—i.e., solving customer problems and delivering utmost value to customers—what has shifted is how we navigate towards that vision with AI. I see two dimensions of AI transformation within the product management space: first, we see a rise in product managers who leverage AI as a productivity accelerator. Tools like Bolt and Cursor are revolutionizing our prototyping capabilities, reducing prototype development cycles from weeks to mere hours, and initial design times by 35%. This efficiency gain allows PMs to invest more time in understanding deeper emotional user needs and ensuring our products create genuine value. Second, we see AI-enhanced PMs, who are using AI to fundamentally transform customer experiences in ways we never imagined. For example, Microsoft’s 365 Copilot leverages AI to revolutionize customer service interactions, which resulted in a 40% reduction in resolution time through AI-powered insights and recommendations. Looking ahead, I see AI enhancing our ability to make better quality and higher quantity decisions faster and evolve with customers in real time to deliver what matters the most to them.
What role does human intuition play in AI product management?
Ghosh: In today’s rapidly evolving tech landscape, AI adoption has surged from 33% to 65% in just the past year—making the role of human intuition in product management more crucial than ever. While AI excels at processing vast amounts of data and automating routine tasks, our uniquely human capabilities of judgment, critical thinking, and empathy remain irreplaceable. Take the evolution of customer service chatbots, for instance. While AI can handle >50% of routine inquiries, it’s the human product managers who recognize that customers need occasional human intervention for complex emotional situations, leading to hybrid human and AI solutions. This exemplifies what I call the “PM’s AI Trilogy of Responsibility,” where product managers in the AI world are now responsible to safeguard customer trust, ensure scalable efficiency, and measure genuine success beyond just automation metrics. The irony isn’t lost on me that in pursuing “artificial” intelligence, we’ve heightened the importance of “human” intelligence.
Let’s talk leadership. How do you think the rise of AI is reshaping what good leadership looks like in product and technology teams?
Ghosh: In the AI era, product and technical leadership demand a fundamental reimagining of how we guide teams and build products. What’s fascinating is that while 92% of global business leaders report positive ROI from their AI investments, success isn’t purely about technological implementation—it’s about creating an environment where both innovation and ethical considerations flourish. We see that the most successful AI products emerge from teams where leaders have mastered the delicate balance between data-driven decision-making and human empathy. Take Netflix’s AI-powered recommendation system, which generates $1 billion in annual value not just through algorithmic excellence, but through leaders who understood the critical intersection of technical capability and user psychology. This exemplifies how modern tech leadership requires a dual focus: pushing technological boundaries while staying deeply anchored in customer impact and responsible AI practices. As we navigate this transformation, I also see good leadership exuded in a way where teams are taught to watch over their shoulders and think beyond the happy path scenarios. For instance, what happens if AI was to fail? What would be your contingency plans? These tenets will help leaders foster an environment where teams feel empowered to innovate responsibly, ensuring our products genuinely enhance human experiences.
Many industries beyond big tech are leveraging AI. What advice would you give to product teams in a traditional industry like finance who are building their first AI-driven solutions?
Ghosh: The financial sector’s AI transformation offers powerful lessons for product teams embarking on their AI journey. While our brains might be the most sophisticated decision-making system, AI serves as a powerful amplifier of human capabilities, particularly in areas like fraud detection, personalized banking experiences, and risk assessment. In my experience, the key to approaching AI implementation is to solve specific customer pain points, and not solely use it as a technological showcase or a competitive advantage. I suggest AI implementation using a three-pronged approach. First, start with well-defined, high-impact use cases where AI can demonstrably improve customer experience rather than implementing AI for its own sake. Second, build cross-functional teams that blend domain expertise with AI capabilities. For instance, when developing AI-powered fraud detection systems, its combination with financial security expertise and machine learning capabilities enables real-time transaction monitoring and anomaly detection, protecting both customers and institutional integrity. Finally, and most crucially, establish robust feedback loops with your customers early in the development process. I often challenge teams to consider, “How would this feature feel to a user having their worst day?” This perspective is particularly vital in finance, where AI decisions can significantly impact people’s lives. I’ve seen the most successful AI adoption use cases aren’t simply using the technology, but rather building trust through it using transparent, ethical, and user-centric solutions.
Finally, what aspect of FinovateSpring are you most looking forward to?
Ghosh: I’m particularly excited about participating in the gender diversity panel at FinovateSpring, where we’ll explore the crucial intersection of diverse leadership and responsible AI development across industries. As a woman leader in tech, I advocate that diverse voices in product development aren’t just about equity or quotas, but rather about building better, more comprehensive solutions that serve entire customer bases. Beyond the panel, I’m looking forward to engaging with fellow industry leaders about responsible AI implementation in fintech. As we see AI adoption in financial services growing at an unprecedented rate, the conversations around ethical AI development and secure deployment become increasingly critical. I’m eager to both share insights from successful AI implementations I’ve seen and learn from other organizations’ experiences in navigating this complex landscape.
Don’t miss your chance to hear Bhoomika Ghosh, along with a wide range of other thought leaders and experts, on the FinovateSpring stage next month on May 7 through 9. Tickets are now available!
Feedzai is acquiring Demyst to unify its AI-powered risk management with external data orchestration, enabling faster, smarter fraud detection and compliance decisions.
The integration of Demyst’s Zonic platform will help financial institutions streamline onboarding, enhance fraud prediction, and reduce friction in real-time risk operations.
As demand grows for dynamic, real-time data in financial services, this deal will enable Feedzai to offer a more comprehensive risk intelligence platform.
Risk management provider Feedzai is acquiring data-as-a-service (DaaS) platform Demyst this week. Financial terms of the deal were not disclosed, but Feedzai will use Demyst to unify its risk management solutions with external data orchestration to offer faster, smarter fraud detection.
“There is no shortage of data in our industry—the trick is how to access the right data as quickly as possible so that you can accelerate risk decisions with the fewest consumer friction points,” said Feedzai CEO and Co-founder Nuno Sebastiao. “Demyst is a first mover and leader in accessing necessary data—internal or external—at the critical moment for any part of the user journey. Paired with Feedzai’s market-leading AI, this ensures every data point is fully utilized to drive smarter and faster decisions. More broadly, this acquisition marks a pivotal moment in continuing Feedzai’s evolution from a data consumer to a data provider.”
Feedzai aims to leverage Demyst’s Zonic data workflow orchestration platform, intellectual property, and sophisticated data-integration capabilities to unify data orchestration and risk management into a single platform. Together, the two companies will deliver a data orchestration platform with fraud prevention measures, enhanced account opening capabilities, contextual intelligence for fraud prediction and prevention, better customer experiences, improved risk insights, and operational efficiency.
Founded in 2011, Feedzai is a risk operations platform specializing in identity verification, fraud prevention, and financial crime detection. The company’s AI-powered solutions span KYC, AML, watchlist screening, and transaction fraud monitoring to help financial institutions stop fraud in real time without compromising the customer experience. Today, Feedzai protects over one billion consumers in more than 190 countries and safeguards over $8 billion in transactions annually.
“External data is the next frontier of business impact for financial institutions, yet it is notoriously complex, involving a labyrinth of sources for KYC/AML, identity, fraud, credit checks, and compliance,” said Demyst CEO Mark Hookey. “We’re thrilled to join Feedzai to bring AI and data together at scale for our customers. Together we are building the most advanced solution for customer onboarding, fraud prevention, and risk management.”
Hookey, along with other key members of the Demyst team, will remain with Feedzai.
Demyst was founded in 2010 as an external data platform that enables financial institutions to discover, evaluate, and deploy third-party data quickly and securely. By streamlining access to hundreds of curated data providers across categories like identity, income, business verification, and credit risk, Demyst helps banks and fintechs make smarter decisions faster, without the typical data integration friction.
The deal highlights a growing interest in data orchestration and AI-driven risk management. As financial services companies grapple with increasingly sophisticated fraud tactics and regulatory demands, the ability to access, integrate, and act on real-time data is becoming crucial, especially as the costs of accessing and analyzing the data are increasing. By combining Feedzai’s AI and risk operations platform with Demyst’s external data orchestration capabilities, the deal positions Feedzai to offer a more holistic, end-to-end risk intelligence solution.
This year at FinovateSpring, we’re seeing a strong convergence of fresh technologies and real-world financial use cases. From embedded finance to AI-powered risk management, the innovation that will be on display during the event, which takes place May 7 through 9 in San Diego, is a signal of the rapidly evolving needs of both financial institutions and their customers. We analyzed the key themes across this year’s 40+ participating demo companies and uncovered eight standout trends shaping the future of fintech.
AI and Machine Learning Are Everywhere
AI is evolving from a nice-to-have feature into a foundational technology. This year, 15 companies are showcasing solutions powered by AI or machine learning to drive personalization, automation, and real-time decision-making. Whether it’s fraud detection, customer engagement, or operational efficiency, companies like APIMatic, Casca, Cinareo Solutions, Cratoflow, Crosswise, Crux Analytics, Illuma, Layerup, Parcha, Quavo Fraud & Disputes, QuickFi, Quivly AI, Solda.ai, Stack AI, and Winnow are showing that AI is the engine behind scalable, modern finance.
Digital Transformation Goes Deeper
As financial institutions continue to modernize, digital transformation is expanding beyond the basic front end changes we saw in 2020. Tools supporting the developer experience, infrastructure, and process redesign are now in the spotlight. Companies like APIMatic, Anonybit, Cinareo Solutions, Illuma, Intellect Design, Kaian, Layerup, Penny Finance, QuickFi, ReSight, Solda.ai, and Stack AI are helping banks shift to cloud-based, API-driven, and future-ready environments.
Consumer Banking is Getting Smarter
Consumer-focused solutions are trending with 10 companies offering innovations in retail banking. From improved digital experiences to smarter customer onboarding, companies such as Anonybit, Bits of Stock, CoHome, Hive Technologies, Instarails, Kaian, Parcha, Penny Finance, SuperMoney, and Winnow are reimagining how consumers interact with their banks.
Embedded Finance Gains Momentum
Embedded finance is enabling a broader range of companies– both financial and non-financial– to provide an increasingly diverse range of financial services. Nine companies, including APIMatic, BankShift, Casca, CoHome, DashDevs, Express Wages, Félix, QuickFi, and TAPP Engine are enabling financial services to be embedded within broader customer journeys in areas ranging from e-commerce to payroll to enterprise tools.
Payments Innovation Is Accelerating
From real-time disbursements to smarter infrastructure, payments remains a top priority. Companies like APIMatic, Cratoflow, DashDevs, Express Wages, Félix, Hive Technologies, Instarails, Intellect Design, and Quavo Fraud & Disputes are focusing on speed, transparency, and compliance across the payments stack.
Customer Acquisition Is Being Reimagined
Nine firms are focusing specifically on helping financial institutions attract, convert, and retain customers more effectively. Expect to see data-driven onboarding tools, personalized product recommendations, and engagement platforms from innovators like BankShift, Cinareo Solutions, CoHome, Covet, Crux Analytics, Layerup, Penny Finance, Solda.ai, and SuperMoney.
Business Banking Is Getting a UX Overhaul
Small and mid-sized businesses have historically been underserved when it comes to having an elegant banking user experience. This year, companies like Anonybit, Casca, Crux Analytics, Instarails, Intellect Design, Parcha, Winnow are presenting tools built to streamline onboarding, lending, and money movement for the business banking segment.
Security, Identity & Compliance Stay Front and Center
As fintech grows more sophisticated, so do fraudsters. Six companies—including Anonybit, DashDevs, Herd Security, Illuma, Solda.ai, Stack AI, Crosswise, Quavo Fraud & Disputes, ReSight, and Winnow—are focusing on identity verification, AML, and regulatory compliance to ensure security doesn’t fall behind innovation.
FinovateSpring is more than a showcase of new technology, it’s a preview of where the industry is headed. These trends reflect the real challenges and opportunities facing financial services, and the companies listed are among the ones leading the way. Register today to see what they bring to the demo stage.
After a turbulent couple of weeks in fintech, we’re starting this week with the news that Capital One’s $35 billion deal to acquire Discover has gained approval. This comes after last week’s positive news that Global Payments has agreed to acquire Worldpay. All of this proves that while fintech may be down, it is certainly not out. Here’s a look at more of this week’s fintech news. We’ll continue adding news to this post throughout the week, so stay tuned!
ValidiFI has expanded its vAccount+ suite to include authoritative bank account verification, enabling real-time validation of account status and ownership using direct-source financial data.
The new tools include vAccount+ Verify and vAccount+ Coverage, which will help firms onboard customers, initiate ACH payments, and detect fraud with higher accuracy.
Built with AI and machine learning, the enhanced suite supports compliance with NACHA regulations and helps banks, lenders, and fintechs make smarter, faster decisions at scale.
Bank account and payment intelligence company ValidiFI recently unveiled enhancements to its vAccount+ suite. This week’s release will add new capabilities for authoritative bank account verification that firms can use when onboarding new customers, initiating ACH transactions, verifying payouts, and ensuring compliance with NACHA and anti-fraud regulations.
Authoritative bank account verification refers to the process of confirming a retail or commercial customer’s bank account ownership and status using official, direct-source data that is obtained from banks, core processors, or authoritative financial institutions. This is in contrast to traditional verification methods that rely on information supplied by the user, manual document uploads, or even micro-deposits. Instead, authoritative bank account verification leverages real-time data to confirm that an account exists, is open and active, and that the person or business claiming the account is indeed the rightful owner.
ValidiFI can leverage the new capabilities to validate up to 85% of accounts based on authoritative data and known transaction history. ValidiFI’s new authoritative bank account verification tool leverages AI and machine learning to analyze bank account and routing number patterns and relationships, which extends coverage to provide insights on 96% of accounts.
“Expanding the vAccount+ suite to include authoritative bank account verification empowers organizations in the B2B payments space to make informed decisions, optimize workflows, and improve risk management strategies,” said ValidiFI CEO John Gordon. “This addition reflects our commitment to delivering actionable insights that drive smarter, more efficient business operations.”
The two authoritative bank account verification tools include vAccount+ Verify, which verifies with authoritative sources for higher accuracy; and vAccount+ Coverage, which maximzes verification using all available data, including authoritative sources.
The tools verify the accuracy of the customer’s bank account and routing number, and offer the option to authenticate bank account ownership by matching the applicant’s details with the account owner’s information. The ownership details help organizations detect discrepancies and potential fraud.
Founded in 2014, ValidiFI offers real-time bank account verification and payment intelligence solutions for both retail and commercial customers. Its tools help lenders, banks, and fintechs improve credit decisioning, prevent fraud, and manage risk with more precision. ValidiFI’s platform is particularly effective in spotting suspicious patterns, such as synthetic identities or mule accounts, and in supporting compliance with account verification mandates such as NACHA’s WEB Debit Rule. By delivering actionable insights instantly, ValidiFI enables its clients to make confident, data-driven decisions at scale.
Legacy systems, fragmented data, and operational silos have long challenged financial institutions trying to modernize. In this Streamly interview, R34DY CEO Mark Hetényi shares his perspective on how banks and fintechs can overcome these barriers by building smarter, more connected digital ecosystems. Drawing from his deep experience in financial services and digital transformation, Hetényi unpacks how to drive real change– not just cosmetic upgrades– across the industry.
In the conversation, Hetényi explains how meaningful transformation requires both cultural and technological shifts. He stresses the need for integration, collaboration, and customer-first thinking in order to eliminate inefficiencies and unlock new growth opportunities. It’s a timely and practical look at what it really takes to move from outdated infrastructure to agile, future-ready operations.
“You have to focus on the customer. I know that’s an overused phrase, so I’m not saying anything new with that. But a lot of the banks they envision what is the best fit product for themselves to build the next best product, and the customer is already three stations ahead with their own fintech solution and you’re not going to grab attention that way. So you first focus on the customer, but then you need an internal champion. I’ve worked with a lot of banks, worked internally as a deputy CEO as well, and if you don’t have an internal champion—a real, internal reason to change—usually, the transformation process goes amuck there.”
Mark Hetényi brings decades of experience at the intersection of banking, innovation, and strategy. As the CEO of R34DY, he is focused on equipping financial institutions with the tools and guidance they need to not just digitize, but to evolve. His leadership bridges traditional finance with digital capabilities, helping banks take a data-driven, customer-focused, approach.
R34DY is a digital transformation partner for financial institutions, helping them move beyond legacy systems and fragmented workflows. The company offers a platform that enables banks to orchestrate and optimize customer journeys, data flows, and product delivery through seamless integration. By bridging the gap between siloed systems and modern customer expectations, R34DY empowers institutions to unlock new value and thrive in a fast-changing financial landscape.
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.
