Author: Julie Muhn (@julieschicktanz)

Spanish AI Debt Collection Startup Murphy Raises $15 Million

Spanish AI Debt Collection Startup Murphy Raises $15 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • AI debt collection startup Murphy raised $15 million in pre-Seed and Seed funding to scale its autonomous, multilingual AI agents that help organizations recover hard-to-collect debt across sectors like banking, BNPL, utilities, and healthcare.
  • Murphy differentiates itself with agentic AI that offers human-like, behavioral, and empathetic voice interactions that operate 24/7 in over 30 languages.
  • Murphy plans to use the new capital to expand into the US, grow its team, and further disrupt the $300 billion global collections industry.

Debt collection startup Murphy announced this week that it closed $15 million in pre-Seed and Seed funds. The investment was led by Northzone, while ElevenLabs, Lakestar, Seedcamp, and existing investors also participated.

Founded in 2024, Murphy seeks to transform debt servicing by leveraging autonomous AI agents to help debt collection agents from utility companies, telcos, banks, BNPL companies, microlenders, healthcare firms, and more recover debt that would have otherwise been untouched or written off. The company uses voice agents and behavioral personalization techniques that work across channels, 24 hours per day and in more than 30 languages.

“We’re building AI-native infrastructure that replaces traditional call centers with a scalable, multilingual solution,” said Murphy Co-founder and CEO Borja Sole. “It helps companies recover more, faster, and more cost-efficiently, while staying compliant and treating debtors with respect.”

Murphy is tackling an often overlooked industry, as there has long been a disconnect between consumers’ digital behavior and how collections are handled. Bringing AI into the equation may help organizations collect previously unrecoverable debt, especially in high-volume, low-value cases. Murphy differentiates its product by taking a unique approach to AI implementation. It doesn’t simply use chatbots and scripted voice technologies, but rather employs agentic AI that is capable of multilingual, empathetic, and behavioral interactions that bring a human-like nuance to conversations that can scale without adding labor costs.

Since launching less than a year ago, Murphy is already managing hundreds of millions of dollars in debt. The company has acquired clients across Europe and plans to use today’s funding to accelerate its expansion across Europe and the US, scale its product, and expand its team.

“Debt servicing is a $300+ billion global industry that is ripe for disruption. After reviewing countless verticals, this stood out as a space where AI can make a major impact,” said Northzone Partner Jeppe Zink. “Given their experience and relentless development speed, Borja and his team are uniquely positioned to transform this space.”

Murphy is part of a larger wave of AI-powered services in the financial services space. Investors are pouring money into these companies in anticipation that AI-native vertical SaaS companies like Murphy will replace legacy systems in high-friction industries such as collections, compliance, and insurance.

Photo by Aleksandar Pasaric

Share this:

Send Post Twitter LinkedIn Facebook

JPMorgan Chase to Charge Data Aggregators for Consumer Data Access: What It Means for US Open Banking

JPMorgan Chase to Charge Data Aggregators for Consumer Data Access: What It Means for US Open Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Julie's Column, Thought Leadership

Late last week, news was released that has the potential to disrupt the trajectory of open banking in the US. JPMorgan Chase has been in discussions with data aggregators, telling them that it plans to charge them to access customer data.

Traditionally, data aggregators like Plaid, Finicity, and MX have been able to access consumer banking data at no cost by using login credentials provided through third-party services. Introducing fees for this access raises important questions around consumer data rights, portability, and the future of financial innovation—and could significantly reshape the economics of open banking in the U.S.

In the US, open banking has largely been shaped by the private sector rather than by government regulation. This means that banks, fintechs, and data aggregators have had to create their own frameworks for sharing consumer financial data, often without clear, standardized rules. Yet consumer demand for data connectivity has grown rapidly. With the rise of third-party fintech apps offering budgeting, investing, and lending services, individuals expect these tools to connect seamlessly to their bank accounts and deliver real-time balances and transaction data. To support this, banks have traditionally allowed data aggregators to access account information either free of charge or for a relatively low cost.

JPMorgan’s rationale

While JPMorgan’s decision to charge for data access may not be unreasonable, it did catch many by surprise. The bank argues that aggregators are profiting from its infrastructure without contributing value in return. Citing rising infrastructure and security costs, as well as a desire for greater control over how consumer data is accessed and used, JPMorgan framed the move as a necessary step toward a more balanced data-sharing ecosystem

“We’ve invested significant resources creating a valuable and secure system that protects customer data,” JPMorgan spokeswoman Emma Eatman told Bloomberg, which broke the news. “We’ve had productive conversations and are working with the entire ecosystem to ensure we’re all making the necessary investments in the infrastructure that keeps our customers safe.”

Impact on aggregators

For data aggregators, the news is far from welcome. As one spokesperson noted, their cost of goods sold has essentially been zero. They charge fintechs for data access but haven’t had to pay banks to obtain the data itself. If banks like JPMorgan begin charging for that access, aggregators will likely pass the added costs to fintechs, which could ultimately trickle down to consumers.

Implications for open banking

JPMorgan’s announcement comes at an interesting time for open banking in the US. Section 1033 of the Dodd Frank Act was supposed to be finalized this October, and many were looking forward to the clarity that centralized open banking rules would provide the industry. Earlier this year, however, the CFPB announced plans to rescind 1033.

Regardless of whether or not formal rules are in place, however, the argument centralizes around an age-old question in fintech–who owns the customer data? While many banks claim that the consumer data belongs to them, some advocacy groups and aggregators claim that consumers should be able to do what they want with their data freely.

Introducing new costs to access consumer financial data could have several ripple effects on the future of open banking in the US:

  • It may create barriers for fintechs offering services that consumers can’t get from traditional banks. This could slow innovation and reduce incentives for new entrants to build products that meet unmet financial needs.
  • Consumers may face higher costs as fintechs pass on the fees associated with data access. Services that were once free or low-cost could become more expensive, prompting some users to reconsider their primary financial institution if their bank can’t match the functionality they previously enjoyed via third-party apps.
  • It could accelerate the adoption of more secure, standardized data-sharing protocols, such as those developed by the Financial Data Exchange (FDX), which aim to replace legacy methods like screen scraping with tokenized, API-based access.
  • It might also incentivize more screen scraping, as aggregators seek ways to avoid new costs. While most aggregators treat screen scraping as a last resort, increased financial pressure may push some to lean more heavily on automated tools such as AI agents to extract data through less secure channels.

What’s next?

While JPMorgan was the first to notify aggregators that it plans to begin charging, we can expect more financial institutions to make similar announcements. And while the CFPB seems unwavering in its decision to rescind the open banking rule as it was stipulated in 1033 last October, JPMorgan may shape or pressure new regulatory frameworks moving forward.

If more banks adopt similar policies and create uncertainty for fintechs and aggregators, we may see renewed momentum for a revised version of 1033, especially under a new administration. As consumers, banks, fintechs, and aggregators all begin to seek greater clarity and consistency, the US could shift toward a more structured, regulated model of open banking.

Photo by Altaf Shah

Share this:

Send Post Twitter LinkedIn Facebook

Signicat Acquires Digital ID Verification Company

Signicat Acquires Digital ID Verification Company
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, Signicat
  • Signicat has acquired Dutch identity verification provider Inverid for an undisclosed amount.
  • Inverid’s flagship product, ReadID, uses NFC on smartphones to securely verify ID documents, making it ideal for high-assurance use cases like banking, government, and cross-border compliance.
  • The acquisition positions Signicat to meet growing regulatory and fraud prevention demands across Europe.

Fraud prevention solutions provider Signicat announced this week that it is bolstering its identity authentication and orchestration tools with the acquisition of the Netherlands-based Inverid.

Signicat is purchasing Inverid from its founders and the company’s majority shareholder, Main Capital, both of which have agreed to reinvest a portion of what they receive back into Signicat. This indicates that they believe in the potential of the combined company and want to retain a financial stake in its future.

Inverid (formerly known as InnoValor) was founded in 2013 and has a team of 75 developers working on solutions that increase digital trust. The company’s flagship solution, ReadID, helps organizations verify identity documents leveraging NFC on users’ smartphones. Inverid counts 50 clients, including Rabobank, the UK and Danish governments, and the European Border and Coast Guard Agency (Frontex).

NFC-based document verification is one of the most accurate and tamper-resistant ways to validate identity documents. This is because it pulls data directly from the chip inside a passport or ID, rather than relying on OCR or a camera scan. This makes ReadID a powerful addition for high-assurance use cases like onboarding for banks, insurers, or government services.

Signicat will integrate the ReadID capabilities into its own set of solutions, which include identity proofing, trust orchestration, authentication, and electronic signing.

“By adding Inverid’s unique NFC-based solution to our platform, we can offer our customers the best possible document verification technology and unmatched identity solutions,” said Signicat CEO Asger Hattel. “This transaction demonstrates our commitment to remaining at the forefront of digital identity innovation, constantly striving to offer our customers still more effective tools to fight fraud while improving digitization journeys for their end users.”

Signicat has been in the identity industry for nearly two decades, having launched its identity verification tools in 2006. Today, the Norway-based company supports 240+ data sources to identify businesses and individuals. Signicat offers national eID and biometric verification, ID document scanning, data verification AML/KYC checks, and more. In 2019, Signicat was acquired by private equity investor Nordic Capital for an undisclosed amount.

“The acquisition of Inverid is an important step to further strengthen Signicat’s offering to deliver even better digital identity solutions to the market,” said Nordic Capital Advisors Managing Director Rolf Torsøe. “Building on a successful partnership between the companies and a strong cultural fit, this transaction will unlock immediate synergies. Nordic Capital is enthusiastic about supporting Signicat’s continued growth journey in Europe.”

This acquisition comes at a time when fraud is evolving rapidly, and governments and financial institutions across Europe are doubling down on strong identity verification. By integrating NFC-based document checks, Signicat is closing a key gap for high-assurance use cases like government onboarding and cross-border compliance. This is especially true in an era when regulations surrounding identity verification are shifting, creating a moving target for organizations.

Share this:

Send Post Twitter LinkedIn Facebook

Bilt Raises $250 Million at $10+ Billion Valuation

Bilt Raises $250 Million at $10+ Billion Valuation
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Bilt raised $250 million in new funding, boosting its total raised to $813 million and reaching a $10.75 billion valuation.
  • The company is expanding its rewards program to cover more housing categories like condos, HOAs, student housing, and even mortgage payments through a partnership with new investor United Wholesale Mortgage.
  • Bilt is also developing new credit card options, including a no-fee card and two premium tiers.

Loyalty platform Bilt received $250 million in new funding this week. The investment, which was led by General Catalyst and GID with additional funds coming from United Wholesale Mortgage, boosts the New York-based company’s total raised to $813 million.

Bilt 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.

With today’s round, Bilt is also revealing its new valuation of $10.75 billion, representing more than a 3x increase in a single year. This new valuation reflects Bilt’s growth. The company anticipates it will surpass $1 billion in revenue by the first quarter of 2026 and will process over $100 billion annually in housing spend in the next six months. Additionally, the company’s network of homes has signed one in four US apartment buildings, partnering with 70% of the top 100 property managers. It has also added over 40,000 merchants across the US to its rewards network.

The company has expanded its network of merchant partnerships to make cardholders’ neighborhoods feel like their own members club. “Bilt represents the convergence of America’s largest spending categories—housing and local commerce—into a single, powerful network that benefits everyone involved,” said Bilt Chairman Ken Chenault. “What we’re building goes beyond the four walls of your apartment; we’re connecting you with your entire neighborhood and making every aspect of where you live more rewarding.”

Bilt is using the $250 million investment to grow the number of housing categories it is able to reward. The company is expanding into condo and HOA payments, student housing, and has also partnered with mortgage servicers–including today’s investor United Wholesale Mortgage–to expand into mortgage payments.

The company is also working on Bilt Card 2.0 in partnership with embedded credit card platform Cardless to offer a new, no-fee card option and two premium cards featuring $95 and $495 annual fees. Bilt didn’t offer additional details of the new card options, but teased the launch date of February 2026.

Photo by Tom Fisk

Share this:

Send Post Twitter LinkedIn Facebook

Jumio and Prometeo Partner to Launch ID Verification Solution

Jumio and Prometeo Partner to Launch ID Verification Solution
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Jumio
  • Jumio and Prometeo have partnered to streamline identity and bank account verification across Latin America.
  • The integration combines biometric authentication, AI, and Prometeo’s banking network to improve security, reduce operational time, and enhance user experience for fintechs and digital platforms.
  • The two are aiming to help organizations meet regulatory requirements while scaling to meet growing demand for secure, digital financial services.

Digital identity solutions company Jumio announced this week that it has partnered with fintech infrastructure company Prometeo to create a solution for identity authentication and bank account validation across Latin America.

Integrating Jumio’s identity verification platform with Prometeo’s account validation will provide Prometeo’s clients with access to a single solution that simplifies processes including onboarding and payment reconciliation while reducing operational times, preventing fraud, and delivering a better user experience.

“This alliance allows us to offer stronger bank account validation, a key element in any authentication process. We’re no longer just confirming whether an account exists — we’re also verifying who’s behind it, which redefines how fintechs and digital companies build fast and efficient onboarding processes,” said Prometeo Commercial Director Roberto Gaudelli. “We’re proud to reach this milestone, which adds an extra layer of security and trust for our clients.”

Founded in 2018, Prometeo’s financial infrastructure allows businesses to integrate seamlessly with the financial system in Latin America and the US. The company offers an embedded banking platform and multi-banking solution to offer fintechs, digital banks, payment gateways, online gaming platforms, and e-commerce companies automated access to financial information and transactions through a single API. Prometeo’s network consists of more than 1,500 connections to 1,200 financial institutions across 11 countries.

Jumio’s platform offers an identity intelligence platform that uses biometric authentication, automation, and data-driven insights to help its clients know and trust their online users. The company was founded in 2010 and came close to collapse when it filed for bankruptcy in 2016. After restructuring, Jumio sold to Centana Venture Partners, which acquired the company for $850,000 two months after its bankruptcy filing. Since its acquisition, Jumio has processed over one billion transactions from over 200 countries and territories.

“Connecting our best-in-class biometric verification technology with the largest banking network in Latin America not only delivers a more complete solution to the market, it also raises the bar for security and efficiency,” said Jumio Strategic Alliances Manager for Latin America Pilar Pereira. “This alliance integrates advanced AI capabilities, data analytics, and user behavior interpretation, elements that truly make a difference and allow us to offer a robust, intelligent solution designed to tackle one of the region’s biggest challenges.”

Prometeo and Jumio anticipate that their alliance will improve verification in Latin America. By joining forces, they’re aiming to make digital onboarding smoother and more secure by helping organizations verify a person’s identity and bank account at the same time. Their integrated, modular solution tackles real pain points like fraud prevention, compliance with local and global regulations, and it is scalable for businesses of all sizes.

Photo by Alexandre Lima

Share this:

Send Post Twitter LinkedIn Facebook

Stripe Partners with TrueLayer to Launch Pay by Bank in France and Germany

Stripe Partners with TrueLayer to Launch Pay by Bank in France and Germany
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Stripe and TrueLayer are launching pay-by-bank in France and Germany, offering real-time, secure payments that bypass card networks to reduce fees and improve conversion for merchants.
  • The move signals growing momentum for open banking in Europe, where the number of pay-by-bank payments is expected to reach 30 billion by 2028.
  • TrueLayer notes that France and Germany are already two of its largest markets outside of the UK. Today’s deal will only enhance its presence in those regions.

Thanks to a new partnership with TrueLayer, Stripe is able to announce it is launching pay-by-bank in France and Germany. 

Stripe will use the pay-by-bank capabilities to streamline the checkout experience for French and German businesses. The company anticipates that merchants using pay-by-bank will be able to improve conversion rates and reduce transaction fees. That’s because merchants can avoid card processing fees, process transactions in real-time, and offer more secure transactions because they require bank-approved authentication.

On the consumer side, users will not need to enter card details, but will instead be able to authorize the payment directly from their bank accounts using biometrics.

“Having seen the success of Stripe’s TrueLayer integration in other markets, we are thrilled to bring this innovative payment solution to Germany and France,” said TrueLayer’s Country Manager for Germany, Sebastian Vetter. “By leveraging TrueLayer’s open banking infrastructure, we’re enabling German and French businesses to accept payments directly from bank accounts, making transactions faster, safer, and more affordable.”

Bringing pay-by-bank to two European nations is strategic, as the payment method within the EU is expected to reach 30 billion by 2028. Notably, Germany and France are expected to be key drivers of this growth. The two nations are also two of TrueLayer’s largest markets outside of the UK. TrueLayer currently processes $2.4 billion (€2 billion) in pay-by-bank transactions in France and $1.6 billion (€1.4 billion) in Germany each year, serving both local and international clients.

TrueLayer was founded in 2016 with an open banking payments network that connects banks across the globe and processes $40 billion across 120 million transactions annually. The company has 10 million users located among 21 European countries. In addition to its payments and payouts products, TrueLayer also offers Signup+, a streamlined onboarding tool, and VRP (variable recurring payment), a tool that enables flexible, bank-authorized recurring transactions.

Stripe’s move into pay-by-bank in France and Germany is a signal that open banking is moving from concept to competitive edge in the European region. It also reflects how Stripe and TrueLayer are positioning themselves for the future of bank-to-bank payments, especially as the EU is actively promoting open banking and instant payments. Stripe’s strategic alignment with these evolving preferences and regulations could help it get ahead in Europe.

However, while pay-by-bank has been cited as one of the top trends to watch in 2025, it has yet to gain similar traction in the U.S. market. American consumers tend to favor credit cards and are generally more hesitant to link their bank accounts directly for payments. Adoption could face additional headwinds if the CFPB reverses its open banking rule, which would leave access to consumer banking data unregulated and slow the development of account-to-account payment options.

Share this:

Send Post Twitter LinkedIn Facebook

Tokenized Deposits vs. Stablecoins: What’s the Difference and Why It Matters

Tokenized Deposits vs. Stablecoins: What’s the Difference and Why It Matters
By Julie Muhn (@julieschicktanz) Posted on
Categories: List series, Thought Leadership

At this point, if you’ve been working in the financial services industry since January, you’ve likely heard of stablecoins, and you may have heard of tokenized deposits. What may still be unclear, however, are the differences and similarities between the two.

Blockchain-powered financial infrastructure is on the rise, and it’s important for banks, fintechs, and regulators to understand new developments in the space, what’s possible, and what’s next. Here’s a brief overview of where stablecoins and tokenized deposits intersect, where they are different, and where they may be most useful.

Stablecoins

Stablecoins are digital assets that are issued by private companies or protocols and pegged to fiat currency. Some of you may be familiar with are Circle’s USDC, Tether’s USDT, and PayPal’s PYUSD. It is important to note that stablecoins are backed one-to-one by off-balance-sheet returns, such as fiat cash or Treasuries. Unlike fiat held at a traditional financial institution, however, they are not FDIC-insured.

Tokenized deposits

In contrast, tokenized deposits are bank-issued digital representations of fiat deposits, recorded on a blockchain. The deposits sit on the bank’s balance sheet, are fully integrated into the bank’s infrastructure, and are minted and backed by regulated banks.

Differences

There are key differences between stablecoins and tokenized deposits. First, let’s look at the issuer. While not always the case, most stablecoins are issued by private, non-bank companies. Even though some banks have issued “coins,” as in the case of JPMorgan’s JPM Coin, they are considered tokenized deposits and are usually used internally for payment settlement, not open to the public, and are not tradable on public blockchains.

The backing structure of stablecoins and tokenized deposits is also different. For example, stablecoins are not held on the bank’s balance sheet and represent a one-to-one reserve of fiat currency. In contrast, tokenized deposits are held on a bank’s balance sheet. This is useful when a firm wants to maintain liquidity to support lending and credit creation, and ensure that customer funds are protected in a regulated financial institution.

Speaking of regulation, FDIC insurance is a key differentiator between stablecoins and tokenized deposits. Stablecoins currently operate in a developing regulatory environment and, importantly, they do not offer deposit insurance such as FDIC. Tokenized deposits, on the other hand, are both insured by the FDIC and regulated.

Another key differentiating factor between the two blockchain-based payment tools is that they have opposite effects on liquidity. Stablecoins remove liquidity. That’s because when consumers exchange their fiat currency in exchange for stablecoins, their fiat currency leaves their wallet and sits in reserves, generally in the form of safe, passive assets like US Treasuries or custodial accounts. This reduces the money multiplier effect and may even weaken bank balance sheets over time. In contrast, tokenized deposits stay on the bank’s balance sheet, making the funds usable for lending, investing, and general liquidity management.

Use cases also differ between stablecoins and tokenized deposits. While stablecoins are best known for their use in cross-border payments, programmable payments, and in DeFi. Tokenized deposits are useful for domestic real-time payments, B2B payments, and treasury automation.

Similarities

But though they differ in all of these aspects, there are also a handful of similarities between stablecoins and tokenized deposits. First, both are programmable, blockchain-based representations of fiat currency. However, it is important to distinguish that, while stablecoins are backed by dollars (fiat currency), tokenized deposits are actual, digital representations of dollars.

Next, both can be used to enable payments and reduce settlement times. Because they take place on the blockchain, transactions in both stablecoins and tokenized deposits can take place in near-real-time. This eliminates the delays associated with traditional clearing and settlement systems, which can take up to three business days. Whether it’s a purchase, B2B payment, or interbank transfer, blockchain-based transactions allow for faster value exchange.

Additionally, both can be used in smart contracts, programmable payments, and embedded finance applications. And while tokenized deposits aren’t commonly used in the DeFi economy at the moment, that may change once regulated or institutional DeFi networks become more common.

Finally, stablecoins and tokenized deposits alike are useful for modernizing payment rails. Already in their infancy, both are acting as gateways to more advanced financial infrastructure. By enabling real-time, programmable payments on blockchain networks, they help move the financial system away from slow, batch-based legacy systems like ACH or SWIFT.

The future of both

Looking ahead, it is possible that stablecoins and tokenized deposits will coexist, as they both serve different niches. No matter which structure reigns supreme, however, we will certainly see traditional financial institutions and private DeFi companies increase their focus on interoperability and shared infrastructure. As regulatory clarity is enhanced on both sides and new pitfalls are discovered, the industry will likely converge on a hybrid model that blends the safety of traditional finance with the speed, transparency, and programmability of decentralized infrastructure.

Share this:

Send Post Twitter LinkedIn Facebook

DASH Merges with S4i, Combining Accounts Payable and Compliance

DASH Merges with S4i, Combining Accounts Payable and Compliance
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • DASH and S4i Systems have merged to form SMRTR, a new company focused on delivering automation and compliance solutions to the manufacturing and food and beverage industries.
  • SMRTR offers a cloud-based platform that streamlines accounts payable, document automation, supplier onboarding, and regulatory compliance.
  • The new organization bridges the gap between finance and supply chain operations.

Accounts payable automation specialist DASH announced this week that it is joining forces with compliance and content management solutions provider S4i Systems. The new entity is called SMRTR, and will offer automation and compliance solutions to manufacturing and food and beverage companies.

SMRTR’s cloud-based solutions will help customers improve operational efficiency with its tools that include AP processing, document automation, supplier onboarding and compliance, and electronic proof of delivery. By combining DASH’s financial process automation with S4i’s supplier compliance tools, SMRTR is uniquely positioned to streamline both front-and back-office operations, ultimately bridging finance and supply chain documentation in a unique way.

SMRTR CEO Susanne Moore highlighted how industries facing labor shortages and increased regulation are undergoing a shift toward platform consolidation. “Our customers have consistently told us they want fewer vendors and more comprehensive solutions,” said Moore. “This merger allows us to deliver exactly that—a complete automation platform that addresses both operational efficiency and regulatory compliance from a single source. We’re bringing together decades of industry experience to solve problems that matter to our customers’ bottom line.”

DASH was founded in 1998 to help its customers automate accounts payable processes and manage their documents. The company supports its clients by offering ERP tools that provide regulatory compliance and audit preparation by reducing manual processes and improving accuracy in financial operations.

S4i Systems launched in 2002, offering automation solutions for companies working in the food & beverage industry. The company’s supplier management platform helps clients meet industry-specific regulatory requirements by offering documentation management and supply chain traceability.

Logistically, SMRTR will bring on employees from existing locations. The company will support product portfolios of both DASH and S4i Systems, maintaining each company’s existing customer relationships.

This merger reflects a growing trend among mid-market automation and compliance vendors to consolidate services into end-to-end platforms. As regulatory demands and supply chain complexities increase in the food and beverage industry, companies are looking for partners that can handle both compliance and operational efficiency.

Photo By: Kaboompics.com

Share this:

Send Post Twitter LinkedIn Facebook

Yonder Introduces Premium Debit Card

Yonder Introduces Premium Debit Card
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Yonder is launching a premium debit card that offers travel rewards, zero FX fees, and lifestyle perks.
  • There are two tiers available for debit cardholders, Free Debit (£0/month) and Full Debit (£15/month), with the latter earning 4 points per $1.40 (£1) and including travel insurance.
  • With today’s launch, Yonder is targeting debt-averse, experience-driven users that value financial wellness without credit card debt.

When you think “premium” you may not think “debit card,” but travel and dining card provider Yonder is hoping to flip that thought pattern with its latest offering. The UK-based company is launching a Mastercard-branded debit card to sit alongside its credit card.

Yonder is marketing the new payment tool with debit “memberships” that will still help users earn rewards, but without having to borrow funds via a credit card. The debit card will carry the same rewards and travel perks as Yonder’s credit cards, and boast zero fees on foreign exchange (FX). To open a Yonder debit account, users must pass a soft credit check and meet minimum income criteria. While not a common requirement for obtaining a debit card, requiring a minimum income reinforces the brand’s premium positioning, even for debit users.

Yonder’s new debit card comes in two tiers: Free Debit and Full Debit. Free Debit is, as the name suggests, £0 per month. The card also offers zero FX fees during travel and access to national rewards and experiences in London, Manchester, Birmingham, Bath, and Bristol. The Full Debit card costs $20.50 (£15) per month or $220 (£160) per year and allows users to earn four points per $1.40 (£1) they spend. The elevated tier also gives users travel insurance, as well as full access to Yonder Experiences—which range from preselected travel and dining perks to shows and entertainment.

“Credit cards can be great—but they’re not for everyone,” said Yonder CEO and Founder Tim Chong. “We kept hearing from people who loved Yonder’s vibe but wanted the same experience on debit. So we built it. Now, anyone can enjoy market-leading rewards, epic travel perks, and totally fee-free foreign spending, without the need for credit.”

Yonder was founded in 2020, at the height of the digital banking hype. The company offers two tiers of credit cards, a free card that offers 1 point for every $1.40 (£1), and a $20.50 (£15) per month card that offers five points for every $1.40 (£1).

The move hinges on the fact that younger, travel-savvy consumers are averse to debt and credit cards, but still value (and sometimes even expect) premium experiences. By offering rewards and perks without requiring users to borrow, Yonder is serving this demographic by tapping into their mindset around financial wellness and lifestyle spending.

Share this:

Send Post Twitter LinkedIn Facebook

Top Fintech Headlines from Q2 2025

Top Fintech Headlines from Q2 2025
By Julie Muhn (@julieschicktanz) Posted on
Categories: Julie's Column

As fintech spring continues to evolve and the sector matures to adapt to shifting dynamics, last quarter–the second quarter of 2025–delivered. Starting in April, we saw a wave of notable developments, including IPO filings, funding rounds, and bold product expansions.

Here are the most popular headlines, based on pageviews, that shaped the last quarter:

Klarna doubles down on digital banking ahead of U.S. IPO

Buy now, pay later (BNPL) player Klarna unveiled plans this quarter to operate more like a full-service digital bank. The Swedish fintech not only launched a Visa-backed debit card, but also announced a $40-per-month mobile plan in the US that leverages AT&T’s mobile network. These moves are widely viewed as Klarna’s effort to strengthen its appearance before its IPO–its second attempt at going public–which is expected to happen later this year.

Circle officially launches its IPO

Stablecoin issuer and infrastructure company Circle announced the launch of its IPO in May. The announcement comes four years after initially trying to go public via a $9 billion special purpose acquisition company (SPAC) in 2021 with Concord Acquisition Corp. That agreement was terminated in 2022 due to regulatory hurdles and shifting market conditions.

Proceeds from Circle’s IPO could fuel its international expansion, strengthen compliance efforts, and support the development of new tokenized financial products. These investments will be essential as Circle competes with traditional payment networks, other stablecoin issuers such as Tether, and new stablecoins that come online.

Plaid partners with Experian; launches fraud prevention solution Plaid Protect

In June, financial data network Plaid not only made headlines for its new partnership with data and technology company Experian, but also for the launch of its Plaid Protect fraud prevention solution.

Plaid Protect’s Trust Index leverages network intelligence, bank account risk, consortium feedback, and advanced identity intelligence. Days earlier, the California-based company entered a strategic collaboration with Experian to help businesses access cashflow solutions and expand financial inclusion.

Rocket Companies acquires Mr. Cooper for $9.4 billion

In April, Rocket Companies announced it is buying Mr. Cooper, one of the largest non-bank mortgage servicers and mortgage lenders in the US. The deal is expected to close in an all-stock transaction of $9.4 billion in equity value, based on an 11.0x exchange ratio.

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

Feedzai acquires Demyst to enhance data orchestration

Risk management provider Feedzai announced in April that it is acquiring data-as-a-service (DaaS) platform Demyst. 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.

Feedzai will 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.

Looking ahead

As we prepare to enter into the third quarter of this year, there are a few key trends worth keeping an eye on:

  • IPO market recovery: With Circle and Chime going public, plus other players signaling intent to do so, public listings may regain momentum.
  • New developments in stablecoins and tokenized deposits: Stablecoin adoption is moving fast, and with positive regulatory changes taking place, many firms will likely try to jump into the trend of facilitating stablecoin payments and tokenized deposits, even if the future of both is unclear.
  • Investor confidence: We saw a handful of strong funding rounds this quarter, many of which point to renewed faith in fintech.
  • Consolidation as a strategy: Merger and acquisition (M&A) activity this quarter suggests that growth may increasingly come through acquisition rather than scaling in-house.

Photo by Madison Inouye

Share this:

Send Post Twitter LinkedIn Facebook

Payments Startup tapi Acquires Cash-Handling Operations of Mastercard’s Arcus

Payments Startup tapi Acquires Cash-Handling Operations of Mastercard’s Arcus
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, MasterCard, Mergers & Acquisitions
  • tapi is acquiring Arcus’ cash payments operations, including bill pay, top-ups, gift cards, and cash-in/out.
  • tapi will leverage the buy to expand its footprint in Mexico and strengthen its role as a regional payments leader.
  • Backed by Kaszek and Andreessen Horowitz, tapi expects to process over $2B in 2025—5x more than in 2024.

In a move to expand its regional footprint, Argentina-based tapi unveiled it will acquire the cash payments operations of Mastercard-owned Arcus.

Specifically, tapi will acquire Arcus’ service payment operations, mobile top-ups, gift cards, and cash-in/out services. tapi is making the move to expand its presence in Mexico and boost its reputation as a payments partner for banks, fintechs, retailers, and service companies across the region. The acquisition will enable tapi to offer a more seamless payment experience while promoting financial inclusion across Latin America. The company remains focused on expanding its Cash In/Out network to offer direct access to retailers in Mexico through strategic partnerships with OXXO, Chedraui, Finabien, 7-Eleven, SYStienda, and others.

“Integrating Arcus’ service and cash payment capabilities into tapi’s ecosystem marks a turning point in our journey as a company,” said tapi CEO and co-founder Tomás Mindlin. “This integration broadens our reach in Mexico, serving the country’s leading fintechs and banks and significantly expanding our physical footprint with thousands of Cash In/Out points, along with connections to the market’s most relevant service providers. To the cutting-edge technology and customer experience that have fueled our exponential growth in recent years, we now add reliable infrastructure and well-established relationships within the local financial ecosystem. We’re thrilled to become the strategic partner for the financial industry in Mexico and the region.”

For tapi users and clients, the acquisition will offer greater scalability and nationwide physical transaction coverage, access to a broad range of payment services through a single platform, and fast and reliable processing for daily financial needs.

“By integrating this technology with our API-first approach, we’re making it even easier for our partners to launch embedded financial experiences,” said tapi CTO and co-founder Nicolás Andriano.

tapi was founded in 2022 and two years later closed a $22 million Series A funding round led by Kaszek, with participation from Andreessen Horowitz. This brought the company’s total funding to $31 million. tapi expects to surpass $2 billion in annual volume in 2025, which is five times more than in 2024.

Arcus’ ArcusFI platform offers firms access to Mexico’s real-time payment system, allowing them to generate interbank CLABEs to send and receive payments to and from any participating firm in Banxico’s Interbank Electronic Payment System (SPEI). One of the key features of Arcus is Dimo, an electronic transfer service facilitated by Banxico that allows the beneficiary to link their cell phone number to their account through SPEI. Customers can use Dimo to transfer funds from the Arcus platform with just the recipient’s phone number.

With this payment method, you can make electronic money transfers from the Arcus platform using only the beneficiary’s cell phone number.

Logistically, Mastercard will retain the Arcus brand, as well as its capabilities in payment processing, settlement, and reconciliation through Mexico’s real-time payment system (SPEI).

Photo By: Kaboompics.com

Share this:

Send Post Twitter LinkedIn Facebook

Fiserv Launches Stablecoin for Banks

Fiserv Launches Stablecoin for Banks
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Fiserv
  • Fiserv is leveraging Paxos, Circle, and Solana to launch FIUSD, a new stablecoin integrated into its global banking and payments infrastructure.
  • FIUSD is designed for traditional banks and offers a compliant, SDK-based solution that maintains control over the customer experience while enabling 24/7 settlement and programmable payments.
  • Fiserv is positioning FIUSD as a “bank-friendly coin,” making it possible for banks to participate and compete in the tokenized financial ecosystem.

In a move that signals growing mainstream adoption of digital assets, payments giant Fiserv has unveiled plans to launch its own stablecoin, FIUSD. The Wisconsin-based company is embedding the blockchain-based payments tool directly into its global financial infrastructure by the end of the year.

Fiserv will leverage stablecoin infrastructure from Paxos and Circle and will make FIUSD available to its clients via Web3 infrastructure player Solana. The new stablecoin will be made available at no additional cost to clients, giving them access to a new, interoperable digital asset service to integrate into their banking and payment flows.

Along with today’s announcement, the company also said that it is evaluating the use of tokenized deposits as an alternative to stablecoins. Tokenized deposits offer many of the same advantages that stablecoins do, such as speed, interoperability, and programmability. However, tokenized deposits are designed to align more closely with regulatory and capital requirements. This approach may offer banks a more familiar path to leveraging blockchain-based payment infrastructure without taking on the balance sheet complexities of non-deposit stablecoins.

For traditional banks, FIUSD offers a safe and controlled on-ramp into stablecoins. By partnering with a trusted infrastructure provider like Fiserv, banks can experiment with programmable money without needing to become crypto-native themselves.

Fiserv anticipates FIUSD to scale quickly, as it will be launched across its global network that includes relationships with 10,000 financial institution clients and six million merchant locations that process 90 billion transactions each year. Leveraging stablecoins and tokenized deposits in traditional banking and payments is expected to rapidly expand due to their ability to settle 24/7, streamline processes, increase efficiency, and power use cases where existing options may be limited.

“Through our privileged position as a trusted infrastructure provider to financial institutions, merchants, and their customers worldwide, we are relentlessly focused on delivering state-of-the-art innovation, efficiency, and choice to all of our partners,” said Fiserv Chief Operating Officer Takis Georgakopoulos. “With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratize access to blockchain financial services. Together with our other cloud-native banking and merchant platforms, we believe FIUSD will provide our clients with the efficiency and optionality they need to thrive in the evolving banking and payments ecosystem.”

Fiserv is differentiating FIUSD as a “bank-friendly coin,” stating that it enables banks to maintain full control of the customer experience. Unlike traditional public stablecoins like USDC or USDT, FIUSD is designed specifically for financial institutions. The stablecoin is delivered via an SDK that fits into Fiserv’s existing platforms and offers integrated fraud monitoring, risk tools, and a regulatory-first approach, positioning the stablecoin as a bank-grade alternative that blends innovation with institutional trust.

“FIUSD is designed with our clients in mind, a financial institution-friendly coin that simplifies stablecoin access through a secure and scalable ecosystem,” said Sunil Sachdev, Head of Embedded Finance at Fiserv. “We are excited to begin collaborating with our clients, partners, and other ecosystem players to create modernized financial experiences.”

Fiserv noted that this is the first of “a series of announcements” surrounding digital asset products it plans to release. Notably, the announcement comes the week after the US Congress passed the GENIUS Act, which will serve as a foundation for US banks to participate in a regulated digital asset ecosystem.

The news comes two months after Fiserv acquired Australia-based payment facilitator Pinch Payments. Fiserv has been involved in the payments space since it was founded in 1984. The company serves merchants, banks, and fintechs with payments tools, customer analytics, and fraud prevention technology. Fiserv is publicly listed on the NYSE under the ticker FI and has a market capitalization of $92.3 billion.

With FIUSD, Fiserv is not just staying ahead of the evolution of the DeFi economy, but it is also making it possible for banks to participate and compete in the tokenized financial ecosystem. As one of the first traditional movers in the stablecoin space, Fiserv could set a new benchmark as a bank-grade DeFi provider.


Share this:

Send Post Twitter LinkedIn Facebook