Author: Julie Muhn (@julieschicktanz)

TransUnion to Buy Credit Eligibility and Distribution Platform Monevo

TransUnion to Buy Credit Eligibility and Distribution Platform Monevo
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, TransUnion
  • TransUnion will acquire credit eligibility and distribution platform Monevo, expanding its capabilities in credit prequalification and personalized credit offers.
  • Financial terms of the deal were not disclosed.
  • TransUnion originally acquired a 30% stake in Monevo in 2021 and will acquire the remaining ownership position from Monevo’s majority stakeholder, Quint Group Limited.

Credit protection platform TransUnion announced it will acquire credit eligibility and distribution platform Monevo. Terms of the deal, which is expected to close by the second quarter of this year, were not disclosed.

U.K.-based Monevo was founded in 2008 to help comparison websites and online publishers embed personalized credit offers into their websites. It also works with more than 150 banks and credit providers worldwide, using centralized technology to connect lenders with publishers. This lets consumers see their chances of being approved for credit products before applying, which helps them save time and protect their credit scores from unnecessary checks.

“I founded Monevo to improve access to credit for consumers through technology, and today it is powering credit distribution for some of the world’s largest banks and lenders,” said Quint Group and Monevo CEO Greg Cox. “This acquisition is the natural next step in Monevo’s future growth and success, and would unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned.”

In October 2021, TransUnion formed a strategic partnership with Monevo, acquiring a 30% stake in the company. Today, TransUnion has agreed to acquire the remaining ownership position from Monevo’s majority stakeholder, Quint Group Limited.

“Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we plan to deliver high-quality offers at scale with minimal support needed from our partners,” said TransUnion President, U.S. Markets Steve Chaouki. “Additionally, we continue to make good progress on broadening our value proposition and go-to-market strategy in the direct-to-consumer business and expect to have more to share in the coming quarters.”

Today’s acquisition enables TransUnion to enhance its credit prequalification and distribution capabilities. By integrating Monevo’s technology, TransUnion will connect its lender clients with consumers through more personalized credit offers. This partnership strengthens TransUnion’s ability to serve both lenders and consumers, streamline customer acquisition for financial institutions, and empower consumers to make informed borrowing decisions with minimal impact on their credit scores.

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Eltropy Acquires Collections Technology Provider Lexop

Eltropy Acquires Collections Technology Provider Lexop
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Eltropy, Mergers & Acquisitions
  • Eltropy has acquired collections technology provider Lexop for an undisclosed amount.
  • Eltropy will integrate its AI-powered communication solution with Lexop’s compassionate debt resolution technology to help community financial institutions streamline collections, reduce delinquencies, and improve borrower experiences.
  • The combination of Lexop’s self-service payment portal and Eltropy’s communication platform will allow borrowers to easily make payments while enabling lenders to recover debts faster.

Unified conversations platform Eltropy unveiled yesterday that it has acquired collections technology provider Lexop. Financial terms of the deal were not disclosed.

Eltropy envisions that by combining Lexop’s collections technology with its own AI-powered communications platform, it can help to modernize debt repayment and collections processes. Ultimately, bringing the two technologies together will help community financial institutions (CFIs) reduce and prevent delinquencies, collect faster, and enhance the user experience for borrowers.

“The world needs a better way for people to pay their debt obligations. Today’s phone-call-driven experiences are extremely inconvenient for the borrower, making it difficult for CFIs to collect debt payments on time,” said Eltropy CEO and Co-Founder Ashish Garg. “By combining Lexop’s people-first collections technology with our AI-driven communications platform, we’re delivering an offering that increases effectiveness with empathy.”

Canada-based Lexop was founded in 2016 to offer a compassionate debt resolution platform for credit unions. The technology automates text, email, and voice payment reminders that meet members in their preferred digital channels. With the collections platform, lenders can allow their members to make payments through a self-service payment portal that is integrated into the lender’s existing website and available 24/7. Eltropy will leverage this self-serve solution to allow its CFI clients to easily make payments with two clicks, helping to prevent avoidable delinquency.

“We built Lexop to create a better past-due member experience,” said Lexop CEO and Co-founder Amir Tajkarimi. “By joining Eltropy, we are reinventing loan repayment and collections, helping credit unions and community banks improve recovery rates while preserving relationships with their members. We have been watching Eltropy take the CFI world by storm and could not be more excited to join hands.”

Today’s deal marks Eltropy’s third acquisition after purchasing POPi/o and Marsview.ai in 2022. Logistically, Eltropy will continue to operate out of its headquarters in Santa Clara, California and Lexop will continue its operations in its headquarters location of Montreal, Quebec.

Eltropy serves over 650 credit unions and community banks in North America with communications solutions that aim to help firms mitigate fraud, grow deposits, facilitate payment reminders, streamline mergers and acquisitions, and more. Since launching in 2013, Eltropy has helped power more than 200 million conversations. The company demoed Eltropy One, its all-in-one omni-channel communication solution, at FinovateFall 2022.

Photo by Tara Winstead

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Axway to Bring Open Banking to Regions Bank

Axway to Bring Open Banking to Regions Bank
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Axway
  • Regions Bank has selected Axway to implement open banking.
  • Regions will use Axway’s Amplify Open Banking solution to enable secure, API-based data sharing for its consumer, corporate, and wealth management clients.
  • With the CFPB’s 1033 rule on the horizon, Regions is getting a head start on compliance, emphasizing customer education and consent management.

Enterprise data integration company Axway announced it is sharing its “open everything” mentality with Regions Bank. The Alabama-based bank has selected Axway to bring open banking capabilities to Regions’ consumer banking, corporate banking, and wealth management customers.

Regions will be using Axway’s Amplify Open Banking solution. Built on Amplify’s API Management Platform, the Amplify Open Banking solution helps firms simplify compliance and integration with its low-code/no-code capabilities that speed up time to deployment.

When the implementation is finalized, Regions will allow its corporate banking clients to leverage Amplify’s Marketplace feature to connect their Regions financial data via APIs. Additionally, the bank’s consumer banking and wealth management clients will be able to select which third parties they’d like to share their financial data with in a process that will remove the need for third-party platforms to save their banking credentials on their own systems. Ultimately, Regions will benefit from a more secure connection between the customer’s bank account and third party platforms.

“At Regions, our focus is on serving customers when and where they want,” said Regions Bank Emerging and Digital Payments Group Manager Tim Mills. “As customers continue to grant access to their financial data to third party applications, this new solution will help capture customer consent, remove the need for credential sharing to third parties, and provide another layer of security to protect customer data. Open banking is the future, and we are pleased to work with Axway to make banking easy for customers who turn to Regions time and again for their banking needs.”

Open banking has become a hot topic in the U.S., now that the Consumer Financial Protection Bureau has formally issued its 1033 rule that will mandate banks to participate in open banking. Partnering with Axway will offer Regions a head start on the bank’s required adoption date of April 1, 2027. Select smaller firms have until 2030 to comply.

Through Amplify, which is projected to launch in the coming years, Regions customers will receive a one-time prompt from the third-party platforms they use that will reenter information on their accounts.

“We are excited to extend our work with Regions to help provide secure, standardized access to data,” said Axway Vice President for Financial Services and Open Banking Tom Hogan. “This allows their customers to benefit more from the expanding ecosystem of next generation fintechs and third-party data providers.”

Regions also mentioned in today’s release that it will provide educational materials through multiple channels in order to inform customers on the launch. Given that one of the biggest hurdles in open banking adoption is consumer trust, Regions’ proactive approach to educating its customers and offering a consent management portal demonstrates that the bank understands this challenge. By empowering customers with tools to manage their data access, Regions is not only ensuring compliance but is also building the trust necessary for open banking to thrive.

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Streamly Snapshot: Balancing High-Tech and High-Touch Strategies in Digital Banking

Streamly Snapshot: Balancing High-Tech and High-Touch Strategies in Digital Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

Since the dawn of fintech, financial services companies have struggled to find the sweet spot of “high tech” vs. “high touch.” However, in today’s technology saturated environment, finding the perfect balance between automation and personal interaction is crucial. While technology enables scalability and efficiency, customers still value connecting with a human for complex financial decisions. This balance — where high tech meets high touch — is shaping the future of digital banking.

In the following Streamly video, Finovate Research Analyst David Penn speaks with Christopher Hollins, Head of Solution Sales and Delivery at Silicon Valley Bank (SVB), who highlights the transformation of B2B client expectations through digital channels and how SVB’s approach combines high-touch and high-tech strategies.

We spend a lot of time from a design perspective recognizing the user trends both on the consumer side, as well as the business side, and figuring out what’s the most logical thing we can do to avoid obstacles and make things very simple and straightforward. We always say that we want people to feel comfortable doing banking at 4:17 pm and 4:17 am, which means that your digital capabilities must be up to snuff and that you must be able to create an experience that they feel comfortable working with you any time of day,” said Hollins.

SVB is a division of First Citizens Bank that provides commercial and private banking services to individuals and companies. Originally founded in 1983, SVB focuses on investing in high-growth companies that tend to be on the cutting edge of innovation. In fact, 50% of U.S. VC-backed tech companies with IPOs in 2024 are SVB clients.

Hollins sits at the helm of SVB’s Global Solution Sales and Delivery, where he drives business growth and fosters team motivation. With a focus on sales strategy, design integration, and product marketing, Hollins’ team has successfully executed strategies that resonate with the unique demands of the fintech industry and the innovation economy.

For more video interviews, be sure to check out Finovate’s other Streamly content.

Photo by Leonardo Iheme on Unsplash

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Thomson Reuters Acquires Tax Technology Provider SafeSend

Thomson Reuters Acquires Tax Technology Provider SafeSend
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions, Thomson Reuters
  • Thomson Reuters has agreed to acquire SafeSend in a $600 million deal.
  • Thomson Reuters will integrate SafeSend’s tax automation solutions to help tax professionals improve efficiency, particularly as the U.S. faces a shortage of tax professionals.
  • Thomson Reuters will preserve the SafeSend brand and continue to offer it as a publicly available solution.

In the U.S., many savvy taxpayers will start working on their 2024 taxes now that the new year has arrived. That might be what content and technology company Thomson Reuters had in mind when it agreed this week to acquire tax technology company SafeSend for $600 million in cash.

Founded in 2008, SafeSend helps accountants and bookkeepers automate aspects of their clients’ tax returns, including assembly, review, taxpayer e-signature, and delivery. The company’s software is used by 70% of the top 500 accounting firms in the U.S. The Michigan-based company is expected to generate approximately $60 million of revenue in 2025 and grow more than 25% annually in the next few years.

“The needs of our customers and their clients drive every decision we make at Thomson Reuters. This acquisition underscores our commitment to addressing the evolving challenges faced by tax professionals and taxpayers alike,” said Thomson Reuters President of Tax, Audit and Accounting Professionals Elizabeth Beastrom. “By integrating SafeSend’s innovative technology with our existing solutions, we’re simplifying tax preparation workflows, and meeting the dynamic demands of businesses we serve to help them thrive in an increasingly complex tax landscape.”

Thomson Reuters expects the acquisition will add to its services catering to tax and accounting professionals. SafeSend’s wide range of solutions will help tax preparers and their teams create more efficient workflows fueled by online file transfer tools, e-signature solutions, client communication products, and more.

Going forward, Thomson Reuters will preserve the SafeSend brand and continue to offer it as a publicly available solution. This decision to preserve the SafeSend brand and offer it as a standalone solution suggests that the SafeSend brand and its reputation carry value. For SafeSend, being backed by Thomson Reuters opens up new opportunities for launching new technologies, scaling, and reaching a wider audience.

“Today marks an exciting new chapter for SafeSend customers,” said SafeSend Co-founder Steve Dusablon. “Becoming a part of Thomson Reuters will enable us to accelerate product development efforts and realize our shared vision of an end-to-end tax workflow solution.”

Thomson Reuters, which has demoed at two Finovate events, offers legal, tax, risk, supply chain, and other solutions in addition to its media business. The company is listed on the New York Stock Exchange under the ticker symbol TRI and currently has a market capitalization of $72.9 billion.

Thomson Reuters’ acquisition of SafeSend comes at a time when the U.S. is seeing a decrease in the number of tax professionals. SafeSend’s technology will help tax professionals and firms streamline their operations amid growing regulatory complexity and heightened client expectations.

Photo by Nataliya Vaitkevich

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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: Fintech Rundown

Welcome to the first full week of the new year. Here’s a quick catch-up of the latest fintech news to help you hit the ground running this week.

DeFi

OCBC Bank introduces tokenized bonds for accredited investors.

FalconX acquires Arbelos Markets to expand its global derivatives footprint.

Frax launches new stablecoin that’s backed by the BlackRock’s USD Institutional Digital Liquidity Fund and tokenized by Securitize.

Business banking tools

Standard Chartered’s fintech investment arm SC Ventures launches a small business invoicing and billing platform called Labamu.

Elite acquires B2B payments platform Tranch to transform billing and payment processes for law firms.

Cards & payments

Tietoevry Banking secures European Payments Council registration for routing and verification services.

Paysafe expands payment options business to Brazil.

Tradition Capital Bank partners with CorServ for improved credit cards.

Lending & credit

Japan’s SBI Holdings Inc. agreed to take a stake of more than 70% in Solaris SE.

Union Credit partners with MeridianLink to simplify lending and grow credit union membership.

AKUVO names William Coffey Chief Risk and Data Officer.

Photo by Andre Morgan

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Chainalysis Acquires Web3 Security Company Hexagate

Chainalysis Acquires Web3 Security Company Hexagate
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • Blockchain data platform Chainalysis has acquired web3 security solutions provider Hexagate.
  • Terms of the deal were not disclosed.
  • The acquisition aligns with Chainalysis’ mission to build trust in blockchain ecosystems by integrating Hexagate’s machine learning-based threat detection and prevention technology, benefiting chains, protocols, and exchanges.

Blockchain data platform Chainalysis has acquired web3 security solutions provider Hexagate this week. Financial terms of the deal were not disclosed.

Hexagate’s security solutions detect and mitigate real-time threats, including cyber exploits, hacks, and governance and financial risks to help chains, protocols, asset managers, and exchanges keep their funds secure. The Israel-based company monitors blockchain networks and leverages machine learning to identify suspicious patterns and transactions in real-time. Hexagate’s customers include Coinbase and Consensys.

“I have long believed that in order to advance the Chainalysis mission to build trust in blockchains, we would need to expand our business beyond investigations and into prevention,” said Chainalysis Co-founder and CEO Jonathan Levin.

With billions of dollars in crypto stolen each year, Chainalysis anticipates that Hexagate will help create a safer financial platform that fosters trust in solutions. Levin added that protecting the crypto ecosystem will only become more crucial as smart contracts facilitate more value and the use of stablecoins grow. He also noted that governments are increasing the monitoring of smart contracts associated with illicit funds.

Chainalysis was founded in 2014 and has raised $537 million. Among its offerings are automated cryptocurrency transaction monitoring software, investigation software for tracing the flow of funds across blockchains, and profiles of cryptocurrency businesses. Today’s deal marks the company’s third acquisition, following its purchase of Transpose in 2023.

Photo by Bich Tran

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BVNK Raises $50 Million for its Stablecoin Infrastructure Platform

BVNK Raises $50 Million for its Stablecoin Infrastructure Platform
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • U.K.-based stablecoin infrastructure provider BVNK secured a $50 million Series B round, boosting its valuation to $750 million.
  • The round was led by Haun Ventures with participation from Coinbase Ventures and Tiger Global.
  • BVNK plans to launch in the U.S. next month with offices in New York and San Francisco.

As living proof that the stablecoin revolution is underway, stablecoin infrastructure provider BVNK has raised $50 million. The investment is the U.K.-based fintech’s first round since 2022 and boosts its valuation to around $750 million.

Haun Ventures led the Series B round, which also included participation from Coinbase Ventures and existing investor Tiger Global. Notably, Haun Ventures is also an investor in stablecoin infrastructure startup Bridge, which was acquired by Stripe for over $1 billion in October of this year.

“Every competitor of Stripe is coming to us saying, ‘Stripe’s done this, how can we get involved in the space now?'” BVNK cofounder and CEO Jesse Hemson-Struthers told Fortune.

Stablecoins, which are cryptocurrencies pegged to fiat or a physical asset, have the potential to bring significant value to users. That’s because they are both instant and inexpensive, unlike payments made via traditional payments rails such as SWIFT. Stablecoins have exceptional potential for cross-border payments and remittances. They offer greater accessibility compared to traditional banking systems, while also mitigating the volatility typically associated with other cryptocurrencies.

Stablecoin infrastructure companies like BVNK and its competitor Bridge are key players in the stablecoin space, as they serve as on-and-off ramps for converting fiat into stablecoins and back.

BVNK was founded in 2021 and currently processes an annualized volume of $10 billion. The company integrates with established banking networks like SWIFT and SEPA to provide real-time settlement and the ability to operate outside of standard banking hours. BVNK has historically focused on the European and Asian markets, but plans to launch in the U.S. next month, opening offices in New York and San Francisco.

Photo by Nicolas Postiglioni

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Current Bags $200 Million in New Capital

Current Bags $200 Million in New Capital
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Digital challenger bank Current raised $200 million, boosting its total funding to over $600 million.
  • Current plans to use the funding to enhance and scale its accessible financial products that promote inclusion.
  • As part of today’s announcement, Current reported a 90% revenue increase this year and welcomed new investors General Catalyst and Cross River Bank.

Digital bank Current received $200 million in fresh capital this week. Along with the announcement, the New York-based company revealed that it experienced a record-breaking year, seeing a 90% increase in revenue.

The company has raised just over $600 million, inclusive of today’s round. Current plans to use the funds to build more accessible financial solutions.

Existing investors Andreessen Horowitz, Wellington Management, and Avenir contributed to the round. Two new investors, General Catalyst and Cross River, also participated. Current expects General Catalyst’s investment will drive member acquisition and fuel profitability. The company also said that Cross River Bank is extending warehouse funding to support Current’s Paycheck Advance product and credit-building card offering.

“Millions of Americans are struggling with affordable access to liquidity and credit,” said Current CEO and co-founder Stuart Sopp. “This new capital provides us the most efficient way to scale these solutions, including providing even higher limits of our earned wage access product to more people and setting our company on the best path to long-term success, including reaching profitability in 2025.”

Current was founded in 2015 to create a banking system that’s more affordable, accessible, and innovative. The company has a credit-building card, early paycheck advance product, fee-free overdraft, crypto trading platform, as well as a high-yield savings account with a transaction round-up savings feature.

“Current’s tremendous growth this year showcases the true product-market fit it has unlocked,” said General Catalyst’s Roy Mabrey. “We are excited to invest in the future of Current because of its demonstrated ability to scale with great unit economics and the key gap it is stepping up to fill in the market for millions of Americans who are struggling to make ends meet. We look forward  to supporting Stuart and the team as they continue to grow and be at the forefront of product innovation.”

Photo by Killian Eon

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A Look Back at What You Loved: Top 10 Posts of 2024

A Look Back at What You Loved: Top 10 Posts of 2024
By Julie Muhn (@julieschicktanz) Posted on
Categories: Fiserv, Klarna, List series, Revolut, Socure, SoFi

As both a conference producer and a news outlet, we’re always paying close attention to the topics that resonate most with you — our audience of fintech and banking professionals. To wrap up 2024 and brace ourselves of what to expect for 2025, we analyzed readership data to gain valuable insights into the stories, trends, companies, and products that mattered most to the industry this year to create the top 10 posts of 2024.

This list is compiled of posts published in 2024 that garnered the highest number of views and engagement in 2024. From breaking news to big IPOs, these were the stories you found most compelling. So, without further ado, here’s a countdown of the top 10 posts that captured your interest over the past year.

#10: Finovate Awards finalists (link)

Meet the Finalists of the 2024 Finovate Awards!

#9: Klarna’s long-awaited IPO (link)

5 Facts About Klarna’s Long-Awaited IPO

#8: How Galileo is expanding into real time payments (link)

SoFi’s Galileo Extends Partnership with The Bancorp to Offer Real-Time Payments

#7: A highlight of conversations with FinovateFall’s Best of Show Winners (link)

Best of Show Winners from FinovateFall 2024 Join the Finovate Podcast

#6: A look at Socure’s big buy (link)

Socure Acquires Real-Time Risk Decisioning Company Effectiv for $136 Million

#5: A Finovate Global roundup focused on central Asia (link)

Finovate Global Uzbekistan: Fintech Innovation and Banking Breakthroughs in Central Asia

#4: A look at how Walmart is tapping a traditional fintech player to compete on payments (link)

Walmart Taps Fiserv to Offer Pay by Bank

#3: The news event that kicked off the stablecoin frenzy (link)

What Stripe’s Purchase of Bridge Means for Stablecoins in the U.S.

#2: A mid-year roundup of M&A activity (link)

Top 10 Fintech Acquisitions of Summer 2024 (So Far)

#1: How Revolut is doubling down in the wealth management arena (link)

Revolut to Launch Standalone Wealth Management App

Photo by Vlada Karpovich

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Mesh Payments Integrates with SoFi’s Galileo

Mesh Payments Integrates with SoFi’s Galileo
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, SoFi

Travel and expense management company Mesh Payments has selected SoFi as its sponsor bank and has tapped SoFi-owned Galileo Financial Technologies as its payment processor.

Mesh Payments is an all-in-one corporate payments platform for travel and expense that integrates corporate cards, expense management, and travel bookings on a single platform. Mesh Payments offers SaaS enterprises cardless payments capabilities that enable full visibility, control, and intelligence to help them orchestrate, manage, reconcile, and ultimately reduce spending. The company, which processes more than $1 billion in annual payment volume, was founded in 2018.

Under the partnership, Mesh Payments’ expense and card infrastructure will tap SoFi’s financial framework and Galileo’s customizable, API-based payments processing platform. Mesh Payments anticipates that leveraging both SoFi as its sponsor bank and Galileo as its processing platform will help it offer more streamlined enterprise expense management, reduce inefficiencies, and bring solutions to market more quickly.

“We’re excited to partner with SoFi and Galileo, as both companies share our vision of delivering the most modern and innovative financial solutions for businesses,” said Mesh CEO Oded Zehavi. “They are the ideal partners to support our mission to provide companies with an efficient, forward-thinking approach to corporate travel and expense management.”

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’s client list includes DailyPay, Bluevine, Dave, MoneyLion, Monzo, and others. Galileo was acquired by SoFi in 2020 in a $1.2 billion deal.

Founded in 2011, SoFi has evolved from a lending platform into a nationally chartered bank that offers checking and savings accounts, investing tools, and insurance plans. The company landed its first sponsor bank deal in April of 2024 when it partnered with small business banking platform Rapid Finance.

“SoFi is proud to provide the financial backbone for forward-thinking solutions like Mesh Payments,” said SoFi Bank President Paul Mayer. “With SoFi and Galileo under one roof, we empower partners like Mesh Payments to harness Galileo’s advanced cloud-based banking core, enabling them to launch new products faster, scale seamlessly, and stay ahead of their customers’ ever-changing needs.”

Photo by Pixabay

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Streamly Snapshot: Creating Revenue Streams for Community Banks and Credit Unions

Streamly Snapshot: Creating Revenue Streams for Community Banks and Credit Unions
By Julie Muhn (@julieschicktanz) Posted on
Categories: BankShift, Sponsored, Streamly

Community banks and credit unions have long been the cornerstone of local economies. As technology and consumer preferences evolve, however, so must their revenue strategies.

Today’s Streamly video highlights a conversation I had with Rob Thacher, CEO at BankShift, a banking-as-a-service platform. During our conversation, Thacher and I discussed embedded finance, leveraging data to create personalized products, fintech partnerships, subscription services, and BankShift’s Brand on Banking.

BankShift built a business model all around the credit union space because they give dividends back to their members. And so we built a Brand on Banking ecosystem that enables community banks and credit unions to be different and have a new revenue stream. Financial institutions can embed their own technology inside that brand for revenues, for loyalty, and control.

BankShift creates a digital banking platform that helps community banks and credit unions generate new revenue streams, enforce control, and build loyalty. The company’s SDK provides low-code tools that help financial institutions create a branded, a unified app with a single login and a money transfer tool. The Oregon-based company was founded in 2020.

Photo by Museums Victoria on Unsplash

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