Author: Julie Muhn (@julieschicktanz)

FIS Enables FedNow Send Capabilities

FIS Enables FedNow Send Capabilities
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, FIS
  • FIS is now certified to offer send capabilities for FedNow.
  • Adding FedNow send capabilities enhances FedNow’s real-time payment services for bank clients and enables instant credit transfers.
  • As of late last year, 60% of FedNow participants can receive payments, only 40% have adopted sending capabilities.

Payment, banking, and investment systems provider FIS announced today that it is now certified to enable send capabilities for FedNow instant payment credit transfers.

FIS was an early adopter of FedNow, and was one of the first institutions to enable its customers to receive FedNow payments after the technology launched in July of 2023. Adding send capabilities, along with real-time transfer alerts, allows FIS to bring its bank clients a more comprehensive payments experience.

“As money moves between banks, consumers, businesses, and beyond in a complex cycle, credit and debit cards continue to play a leading role in the payment experience,” said FIS Head of Cards and Money Movement Chris Como. “However, slow or delayed transfers can harm customer loyalty when they need to pay loans, rent, or time-sensitive bills on any given day. Giving the end user direct access to send payments instantly using FedNow marks a huge milestone in our efforts to enable a harmonious payments experience for our clients and the customers they serve.”

This announcement comes after it was reported that only 40% of firms have signed up to send payments using FedNow, as of late last year. In comparison, close to 60% of the financial institutions on board with FedNow are able to receive payments. As of last month, more than 1,000 financial institutions have enrolled in the FedNow Service. The Federal Reserve maintains a list of participating financial institutions on its website.

The lack of banks willing to send payments over FedNow may be caused by a handful of factors. Implementing the necessary infrastructure to send payments requires more technological investment and operational considerations than simply receiving payments. Additionally, faster payments leads to faster fraud, including authorized push payment (APP) fraud, where fraudsters trick users into sending money to them. Also, at a time when banks are seeking to increase their deposits, it doesn’t benefit them to make it easy for customers to send money.

Founded in 1968, FIS is headquartered in Florida. The firm, which counts 15,000 clients across the globe, offers a wide range of products and solutions, including payment capabilities, risk management tools, customer communications products, and more. FIS-powered tools process $50 trillion annually and hold $16 trillion in assets.

Photo by Element5 Digital

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Money Squirrel Taps Moneyhub’s Open Banking Tech for New App Launch

Money Squirrel Taps Moneyhub’s Open Banking Tech for New App Launch
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Moneyhub
  • Moneyhub is partnering with Money Squirrel to provide open banking technology for Money Squirrel’s new small business financial management app.
  • Money Squirrel’s new app is aimed to automate VAT savings and optimize cash flow.
  • The collaboration comes as regulations like PSD2 continue to shape the open banking landscape across Europe.

Data and payments fintech Moneyhub unveiled this week that it has been selected by Money Squirrel to power its new small business financial management app.

Launched last month, Money Squirrel’s app aims to help businesses manage their finances and optimize their cashflow. The UK-based company will leverage Moneyhub’s open banking-enabled API technology to power the platform. Money Squirrel’s tools allow businesses to automate saving for future VAT payments. Once businesses connect their savings accounts, Money Squirrel places incoming funds into high interest rate accounts to maximize returns on sedentary cash, according to the business’ preference.

“Having Moneyhub’s API technology has been critical to launching our app, but it’s also encouraging to be aligned with them on the aim of making open banking and open finance more inclusive,” said Money Squirrel Founder and CEO Andreea Daly. “Having founded a business, I’ve experienced the frustrations of managing cash flow – spending countless hours calculating VAT and budgeting for future expenses. Therefore, we know firsthand how having the technology to remove these frustrations can unlock so much potential for businesses.”

Founded in 2023, Money Squirrel was selected to participate in the SHIFT open finance community’s dedicated fintech incubator, Ignite. The program provides financial support, expert guidance, and industry networking opportunities.

Moneyhub was founded in 2014 and sells personal finance technology tools, open data APIs, decisioning solutions, and payments capabilities. The company helps businesses leverage open data to enhance the financial wellness of their customers, communities, and businesses.

“Collaborating with Money Squirrel is a significant step in making open banking technology accessible to both SMEs and larger institutions,” said Moneyhub MD of API Kim Jenkins. “We are thrilled to help simplify financial management and unlock growth opportunities for smaller businesses by powering Money Squirrel’s app with our API. This partnership highlights our commitment to driving financial inclusivity and innovation across the board.”

As regulations like PSD2 continue to evolve across Europe, businesses are increasingly adopting open finance solutions to gain better control over their financial operations. By automating tasks such as VAT planning and cash flow optimization, fintechs like Money Squirrel can help businesses reduce administrative burdens, improve liquidity management, and make more data-driven financial decisions.

Moneyhub has demoed its technology at FinovateEurope 2015 and FinovateEurope 2017. This year’s FinovateEurope event is just a few weeks away. Learn more about this year’s demoing companies and register to attend to take part in the action.

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Napier AI Lands Investment from Marlin Equity

Napier AI Lands Investment from Marlin Equity
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Funding, Napier
  • UK-based financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners.
  • Today’s funds add to Napier AI’s existing $55.8 million in funding and will be used to support global expansion and R&D.
  • The company’s Napier Continuum AI-powered AML compliance platform serves over 100 financial institutions, including major players like HSBC and State Street, using AI and data science to help compliance teams make faster, more accurate decisions.

Financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. The amount of the investment was undisclosed, but will be added to Napier’s $55.8 million in existing funds from the company’s 2024 round.

“The Napier AI team impressed us with their strategic and innovative product offering, and dedicated customer focus. As the regulatory landscape becomes more complex, this mission-critical compliance-first AI platform is well-positioned to deliver continued growth in the global anti-financial crime market,” said Marlin Managing Director Mike Wilkinson. “We are excited to work alongside the Napier AI management team and are thrilled to support the company’s vision of helping more enterprises effectively and efficiently put a halt to money laundering activities.”

The U.K.-based company said that it will use the funds to “advance its market position through ongoing research and development” and support its global expansion.

Napier was founded in 2015 and offers Napier Continuum, an anti-money laundering (AML) compliance suite that provides AML screening and monitoring solutions in a modular platform that helps businesses scale. The company leverages AI and data science to help compliance teams make decisions quickly and accurately. The Continuum platform counts more than 100 financial institution clients, including HSBC, State Street, Mizuho Trust & Banking, SS&C, Starling Bank, ClearBank and WTW.

“We believe our AI-enabled products and passionate employees allow us to deliver exceptional value to customers and partners,” said Napier AI CEO Greg Watson. “In an era of ever-evolving financial crime threats, having a modern solution leveraging AI and automation is paramount to maintaining regulatory compliance and protecting the financial services industry from bad actors. We’re delighted to have found the right partner at such a pivotal moment in our journey to help us continue our momentum and grow the Napier AI brand globally. Marlin has an incredible heritage in helping businesses like ours to scale and innovate, and we are confident both our customers and our teams will see immediate benefits from Marlin’s investment.”

Napier said that the investment highlights the demand for AI-based AML solutions in today’s increasingly complex regulatory environment. It also comes at a time when the fintech sector is quickly developing AI-powered tools to address financial crime, which reflects the financial services industry’s urgent need to combat increasingly advanced fraud techniques while simultaneously meeting stringent regulatory requirements.

Napier demoed its Customer Screening and Transaction Monitoring Enhancement software at FinovateEurope 2018 in London. At this year’s FinovateEurope event, taking place 25 through 26 February, we will showcase 30+ demoing companies, many of which are leveraging AI. Register today using this link and save 20% on your ticket.

Photo by Harrison Fitts

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Cedar Money Raises $9.9 Million for Cross-Border Stablecoin Payments

Cedar Money Raises $9.9 Million for Cross-Border Stablecoin Payments
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Cedar Money has raised $9.9 million in Seed funding.
  • The round was led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar.
  • Cedar Money leverages stablecoins instead of SWIFT to offer faster, more reliable, and cost-effective international money transfers, particularly in regions where traditional systems are inefficient or inaccessible.

Cross-border stablecoin payments company Cedar Money announced this week that it has raised $9.9 million in Seed funding. This initial investment round was led by QED Investors. North Island Ventures, Wischoff Ventures, Lattice, and Stellar also participated.

The Israel-based company was founded in 2022 to enable efficient business-to-business money transfers across geographies. Because it leverages stablecoins, the company does not rely on outdated SWIFT and correspondent banking rails and is able to deliver faster, more reliable, and cost-effective cross-border payments between developed and emerging markets.

Cedar Money will use today’s funds to accelerate its mission of transforming international money flows through blockchain payments. “The funding underscores the urgency for innovative payment solutions in a world where businesses face significant barriers in moving money across borders,” said Cedar Money CEO Benjy Feinberg. “We’re proud to partner with forward-thinking investors like QED who share our vision of creating a truly global and inclusive financial ecosystem.”

By integrating blockchain technology with a user-friendly, fiat-based interface, Cedar Money is able to offer a compliant payment solution that works for businesses across the globe. The company’s technology has had a notable impact in regions where traditional payment systems are cumbersome, costly, or inaccessible.

If you’ve been paying attention to fintech news in the past three months, you’re likely aware that Cedar Money’s announcement comes amid a boom for cryptocurrencies, and especially stablecoins. Stripe’s acquisition of stablecoin-focused fintech Bridge set off an avalanche of stablecoin excitement, bringing to light the possibilities of using stablecoins, especially in cross-border transactions. The recent administration change in the U.S. has also increased the stablecoin excitement by promising a crypto-positive regulatory environment.

“Cedar Money’s approach aligns perfectly with the positive momentum in the digital asset ecosystem, as businesses and governments alike recognize the transformative potential of stablecoins in enhancing cross-border money flows,” added Feinberg.

Photo by ROMAN ODINTSOV

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Wise Says, “Hola” to Mexico

Wise Says, “Hola” to Mexico
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, TransferWise, Wise
  • Cross-border payments fintech Wise has launched services in Mexico.
  • The launch allows Mexican nationals to send money abroad in over 40 currencies across 160 countries, leveraging Wise’s network of six local payment systems and 90+ bank providers.
  • Wise stated that the US dollar to Mexican Peso money transfer corridor is one of its largest, and has seen transfer volumes between the two double in the last two years.

Cross-border payments fintech Wise (formerly TransferWise) announced today it has launched into the Mexican market. The new service in Mexico will enable Mexican nationals to send money abroad, offering them direct access to Wise’s growing global payment network.

The new market entry is part of the company’s broader goal to enhance cross-border payments and support consumers with financial services. With Wise’s services now available in Mexico, the country’s citizens can send money from Mexico to over 40 currencies and 160 countries using Wise’s app or website. Wise has direct connections to six local payment systems and over 90 local bank providers, which ensure fast and efficient transfers. The company said that sending funds from Mexican Peso (MXN) to US Dollar (USD) will “hugely benefit” Mexican nationals who have connections to the US. 

“Launching our services in Mexico is a continuation of our strong, consistent growth in North and Latin America,” said Wise CTO Harsh Sinha. “Mexico, a region where consumers are loaded with unjust hidden fees, presents a strategic opportunity for Wise as it helps further our mission and opens a key currency route to bolster our business. Offering our services will have a positive impact on Mexican nationals by offering a transparent, cost effective, and fast option to send money internationally. Importantly, this takes us one step closer in solving the problems of opaque, slow, and expensive international money movement.”

Wise reports that with more than 37 million Hispanics of Mexican origin living in the US, sending USD to MXN is the third-largest money transfer corridor for its US customers. Additionally, the company has seen the volume of transfers on this route double over the past two years. This growth highlights the demand for faster and more affordable alternatives in the remittance market.

As part of its mission to disrupt traditional remittances, Wise focuses on price transparency. The company estimates that banks and other providers in Mexico conceal up to 10.4% of their fees, contributing to a loss of $446 million in hidden fees in 2024 alone, according to a survey by Edgar, Dunn & Company. Wise aims to change this with a transparent pricing strategy. In fact, Wise estimates that from the $147 billion (£118.5 billion) in cross-border transactions it facilitated globally last year, it saved customers over $2.2 billion (£1.8 billion).

Wise was founded in 2011 under the name Transferwise to facilitate cross-border payments while bringing transparency to the fees involved. The company reports that in Mexico, banks and other providers conceal up to 10.4% of their costs in hidden fees. According to a survey from Edgar, Dunn & Company, out of the $168 billion consumers moved in and out of Mexico in 2024, Mexicans lost $446 million in hidden fees that same year.

“Our mission is to make financial services fair, accessible, and transparent for everyone,” said Wise Country Manager in Mexico Efrain Florencia. “Launching in Mexico allows Wise to disrupt a traditional remittance market by introducing radical price transparency, completely redefining how Mexicans send money abroad. We are eager to make a positive impact on the millions of Mexicans who regularly go through this process and are looking for a better, more convenient experience without the burden of excessive fees.”

Wise is listed on the London Stock Exchange (LSE) under the ticker WISE, with a market capitalization of $11.5 billion. The company serves 12.8 million active customers worldwide, facilitating the movement of $37 billion (£30 billion) across borders each quarter. Founded in 2011, Wise offers both personal and business accounts, allowing users to hold and manage funds in 40 currencies, move money between countries, and spend money internationally without hidden fees.

Photo by Alexander Schimmeck on Unsplash


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Why “AI Agents” is the Catchphrase of 2025

Why “AI Agents” is the Catchphrase of 2025
By Julie Muhn (@julieschicktanz) Posted on
Categories: List series

At FinovateFall last year, we heard plenty of analysts and industry experts say that AI agents are going to replace generative AI on the hype scale. That’s because AI agents, or agentic AI, have the capability to perform tasks, not just generate information. It is this differentiator that has the potential to create a great amount of value for both banks and fintechs, so much so that it has become the newest buzzword in financial services.

Fueling the rise of AI agent hype is the launch of Operator, Open AI’s new AI Agent. “Operator is a system that can use a web browser– in this case, a web browser in the cloud– to accomplish tasks that you give it,” said Open AI CEO Sam Altman during the launch. “Just like you would use a web browser… Operator can do that and control all sorts of things.” Operator has already gone live for ChatGPT Pro users and will soon be available to Plus users.

Open AI isn’t the only tech company launching an AI agent, and the use cases aren’t limited to making a restaurant reservation or buying groceries. Agentic technology is already live and in-use at some financial institutions.

The new technology has a number of potential use cases, five of which I’ve listed below. Keep in mind that some of these are not possible with current AI agent tools, and most are not able to be achieved fully autonomously, and require human-in-the-loop during some stages. However, the technology is moving fast, and AI agents will likely reach this level of autonomy soon.

Customer service and support

Banks and fintechs have used all forms of AI to improve and automate their customer service for years. They can now use AI agents to understand customer queries and analyze the conversations to identify the root cause of an issue, then offer customers the appropriate reply.

Potential prompt: “When a customer contacts you seeking an agricultural loan, contact the county in which the property is located to verify the legal property boundaries.”

Content marketing and copywriting

AI agents can be deployed to research and analyze all available information on a specific topic. Banks can then use another AI agent to transform all of that information into a blog post or marketing copy for a webpage.

Potential prompt: “Research new budgeting websites and capabilities, then write a five-part blog post series and email it over the course of five weeks to customers with less than $5,000 in assets held at the bank.”

Loan and credit underwriting

While generative AI is able to analyze customer profiles to assess creditworthiness, AI agents can take the process a step further by completing tasks in a workflow analyzing credit histories, transaction patterns, and market analysis to make instant, accurate decisions about potential borrowers.

Potential prompt: “For every new small business loan inquiry that comes in, analyze the individuals’ credit and overdraft histories. For small businesses with a physical location, analyze foot traffic of similar businesses in the same region and make a credit decision based on this information.”

Administrative tasks

Because AI agents are able to “think” for themselves and operate independently, they can easily complete tasks such as organizing and making a reservation for a client dinner, placing an order for a new computer keyboard, or placing a catering order for an office party.

Potential prompt: “Make a dinner reservation at a restaurant my client would like, given their Instagram account, for 10 people on May 2 at 7 p.m. Tell the restaurant that two people in the party have a gluten allergy.”

Customer communication

Banks can deploy AI agents to communicate with customers to send personalized messages about their preferences, needs, or simply to autonomously notify them of account changes. They can also reply to customer responses. And because AI agents can generate answers without being trained, they can even reply to customers in cases where they do not have a specific, canned response template.

Potential prompt: “Email all of my wealth management clients that have been with me for over three years asking them to update their risk tolerance. Use their replies to update their portfolios.”

While it is fun (and a bit spooky) to think about all of the potential use cases of agentic AI, we are far from the reality of putting most of these potential prompts to use in a seamless manner. Operator and other AI agent technologies are still in their early stages; even OpenAI CEO Sam Altman admitted they still have “a lot of improvements to do” on Operator.

Because of how new the technology is, there still needs to be a manual confirmation for most of the use cases, especially when it comes to making transactions. Similarly, even though there is no current AI regulation for banking operations, banks should use caution and keep humans in-the-loop, especially when making underwriting decisions and communicating with customers.

Photo by cottonbro studio

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Trump Media (Yes, That Trump) Launches Fintech Venture, Truth.Fi

Trump Media (Yes, That Trump) Launches Fintech Venture, Truth.Fi
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Trump Media and Technology Group (TMTG) launched Truth.Fi, a new financial services brand.
  • The new brand will focus on crypto investments, ETFs, and separately managed accounts, with up to $250 million custodied by Charles Schwab.
  • The announcement follows the launch of the $TRUMP memecoin on the Solana blockchain which, despite disclaimers, has reached a $5.4 billion market cap.

Did anyone have this on their bingo card for 2025? Donald Trump-owned Trump Media and Technology Group (TMTG) announced today that it has launched a financial services and fintech strategy, confirming the launch a new brand called Truth.Fi.

The Florida-based company is launching the new brand to diversify the company’s cash reserves. TMTG will invest up to $250 million through Charles Schwab in cryptocurrencies and crypto-related securities, exchange-traded funds, and separately managed accounts, which will be developed in partnership with Charles Schwab. The investment vehicles and financial products are expected to focus on investments in American growth, manufacturing, and energy companies. Yorkville Advisors will serve as the company’s Registered Investment Adviser.

For those familiar with TMTG social network, Truth Social, the name of the new fintech company may sound familiar. The company began as a social media platform to serve as a safe harbor for free speech, avoiding censorship of private companies. It also runs Truth+, a TV streaming platform focusing on family-friendly, live TV channels and on-demand content.

TMTG CEO and Chairman Devin Nunes called Truth.Fi a natural expansion of the Truth Social movement. “We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance,” explained Nunes.

The company anticipates that Truth.Fi products and services will roll out later this year.

This move is particularly noteworthy as TMTG is majority owned by U.S. President Donald Trump, who took office just nine days ago. Since then, he has demonstrated a pro-crypto stance by signing the “Strengthening American Leadership in Digital Financial Technology” executive order, a decision that has contributed to a surge in cryptocurrency prices.

The announcement also comes after Donald Trump launched a Trump memecoin called $TRUMP on the Solana blockchain a few days prior to his presidential inauguration. Despite the fact that, according to the coin’s website, $TRUMP are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type,” the coin currently has a market capitalization of $5.4 billion, making it the third most valuable memecoin available today.

Photo by Polina Zimmerman

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Musk’s X Partners with Visa for In-App Payments

Musk’s X Partners with Visa for In-App Payments
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, VISA
  • X (formerly Twitter) has selected Visa as its first payments partner to launch the XMoney Account.
  • X’s new payments feature will be powered by Visa Direct, which will enable instant P2P payments, transfers to bank accounts, and creator monetization within the social media app.
  • X CEO Linda Yaccarino expects that X’s in-app payments will debut later this year.

Visa and X (formerly Twitter) have partnered to facilitate payments on X, or what the company owner Elon Musk refers to as the “everything app.” According to a tweet from X CEO Linda Yaccarino, the XMoney Account, which will facilitate in-app payments, will debut later this year.

X will leverage Visa Direct, Visa’s real-time payment platform that enables businesses and individuals to instantly send and receive money directly to an eligible debit card or X Wallet. Once users connect their debit card to allow for P2P payments, they will have the option to transfer the funds to their bank account.

A payment partnership has been in the works for a long time. Musk purchased X (which was then called Twitter) in 2022 for $44 million. That same year, the company filed with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and began obtaining necessary state licenses, as well. The move was one of the first steps Musk took to create an “everything app” that he envisions will help users manage their entire financial lives. Today, X Payments is licensed in 41 states.

According to CNBC, which spoke to someone familiar with the matter, “The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely. One of the first use cases for X Money is to allow creators on the site to accept payments and store funds without external institutions.”

Once launched, XMoney will compete with formidable players such as Venmo, Cash App, PayPal, Apple Pay, Google Pay, and Zelle. XMoney may be able to differentiate itself in this competitive space by integrating social media, content creation, and financial tools. This would position it as more than just a payments platform, but rather as a central hub for digital interactions, creator monetization, and financial management. Its success, however, will depend on its ability to gain user trust, ensure security, and offer functionality that rivals established players.

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Clutch Raises $65 Million to Turn Credit Unions into Fintechs

Clutch Raises $65 Million to Turn Credit Unions into Fintechs
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Clutch raised $65 million Series B funding, bringing its total raised to over $106 million.
  • The investment, which will offer Clutch 200 months of cash runway, comes from Alkeon Capital, Andreessen Horowitz, TruStage Ventures, and Peterson Partners.
  • Clutch was founded in 2020 to provide digital account and loan opening tools that enable over 135 credit unions to compete with big tech by enhancing user experiences without overhauling existing systems.

California-based Clutch recently announced it raised $65 million in Series B funds. The round, which boosts Clutch’s total raised to more than $106 million, was led by Alkeon Capital Management with participation from Andreessen Horowitz, TruStage Ventures, and Peterson Partners.

Clutch was founded in 2020, the year that started financial services’ digital transformation wave. With its digital account opening and digital loan opening tools, the company helps credit unions create a modern experience to help them compete with big tech companies while improving the user experience. Clutch is partnered with 31 out of the 33 credit union leagues and has over 135 credit union clients that leverage its digital origination platform to offer their users a better loan and deposit experience.

Clutch CEO and Co-founder Nicholas Hinrichsen attributes the company’s success to its involvement in the credit union space. “Deeply understanding the nuances of the credit union’s business and technology helps us solve the right problems, the right way. We are all-in on credit unions because generic technologies that serve banks and Fintechs alike fail to promote the unique way that credit unions do business — it’s the uniqueness of credit unions and their mission that helps deliver exceptional value to members.”

According to Hinrichsen, today’s investment brings Clutch more than 200 months of cash runway. Clutch will use the funds to support its growth plans and product innovation. The company is investing in AI and expanded platform capabilities to help credit unions compete in an increasingly digital world.

“We strongly believe that we can best serve the credit union movement by partnering with the existing technology providers and thereby leveraging the investments our credit union clients have already made,” said Clutch Chief Product Officer and Co-founder Chris Coleman. “No credit union leader wakes up in the morning, wanting to kick off a two-year long LOS conversion. Replacing your LOS will cost you two years — two lost years with no real progress. Real progress happens when you work with companies like Clutch that enable you to serve your members like a Fintech while getting the most out of your existing systems,” added Clutch Head of Product Tamanna Kottwani.

As consumer expectations for seamless, digital-first experiences continue to rise, it is critical for financial institutions to stay ahead of the curve. This is especially challenging for credit unions, which often face constraints in funding and technical talent. This gap presents an opportunity for third-party fintechs like Clutch, which can help empower credit unions to level the playing field.

Photo by Porapak Apichodilok

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Who’s New at FinovateEurope 2025?

Who’s New at FinovateEurope 2025?
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2025, Marketing

In less than a month, FinovateEurope returns to London at the iconic O2 Intercontinental, bringing together the newest and best ideas in fintech for two, action-packed days (get your ticket before prices increase!). With insightful keynote presentations, panel discussions, and lots of networking opportunities, this event consistently brings incredible value to attendees.

Among the most anticipated highlights of the first day are the live demo sessions, where companies take the stage to showcase their latest product or service. Each company gets just seven minutes to demo their technology— no slides, no pre-recorded videos, just live demonstrations of what makes their solution unique.

This year, we’re thrilled that, out of the 30+ companies set to demo on the Finovate stage, 17 have never made an appearance at a Finovate event in the past. These new faces represent a fresh wave of innovation in areas like AI, cybersecurity, regtech, and payments, and others. They are new to us, and will likely be new to you, as well.

Arva AI
Arva AI uses AI to increase the efficiency and strengthen compliance of business verification for banks and fintechs.

b-next
b-next empowers firms to uncover market patterns and correlations, enabling them to make smarter decisions through advanced financial data analysis.

Byne
Grassroots experimentation can enable teams to leverage GenAI flexibly and cheaply. Byne helps to encourage this innovation while mitigating security risks.

CyberUpgrade
CyberUpgrade offers a cybersecurity co-pilot that helps CTOs offload 95% of ICT security and compliance tasks.

EKAI
EKAI uses GenAI to reduce costs associated with data review and analysis, produce tangible insights, and streamline compliance program management to maximize ROI.

Keyless
Keyless replaces traditional multi-factor authentication methods with automated biometric authentication, improving user experience and cutting costs.

Light Frame
Light Frame offers private banks the foundational technology to streamline back-office operations, accelerate innovation, and elevate security and resilience to the modern standard.

Mati Labs
Mati Labs helps financial institutions transform and grow by enabling AI adoption with robust data foundations, ensuring security and compliance, and fostering knowledge-based innovation.

Mifundo
Mifundo offers data technology to unify and passport credit data in Europe, providing banks with a standardized credit risk assessment.

Moonjelly
Moonjelly is a GenAI platform designed for the finance sector, enabling rapid investment research, automated memo generation, and intelligent document management to enhance decision-making and operational efficiency.

PayIP
PayIP recovers money from Visa and Mastercard for banks and optimizes their billing costs going forward.

Plumery
Plumery helps organizations drive growth by accelerating digital modernization, reducing time-to-market, enhancing customer experiences, and enabling continuous innovation by integrating with existing banking systems.

PromoComply
By streamlining compliance for financial promotions, PromoComply cuts down significantly on the time and cost of maintaining compliant marketing, so organizations build trust with consumers and regulators.

R34DY
R34DY helps organizations transform their business by taking the pain out of integrations and making it easy for business owners to create use cases and reduce time-to-market.

Regsearch AI
Regsearch AI empowers organizations to save time, reduce compliance costs, and scale operations by automating regulatory processes with trusted, explainable, and transparent AI Agents.

RE-ViVE
RE-ViVE helps BFSI organizations navigate the challenges of modernization by simplifying complex processes, unlocking actionable insights from vast data, and driving efficient, scalable transformation.

Xaver
Xaver empowers organizations with AI-driven sales technology to enhance omnichannel customer journeys, improve sales efficiency, and expand or refine their financial product offerings.

In addition to the 17 companies above, we’ll also see the following Finovate alums, as well as others, take the stage to demo.

Dimply
Dimply helps banks and credit unions unlock greater value from their data and create beautiful, personalized, insightful, and resonant embedded financial experiences. Dimply recently demoed at FinovateFall 2024.

Doshi App
Doshi App transforms transactional relationships into engaging user experiences that attract GenZ and support cross-sell opportunities. Doshi App demoed at FinovateEurope 2024.

Intrepid Fox
Intrepid Fox automates key components of KYC review, such as document collection, which reduces onboarding time by 10x. Intrepid Fox demoed at FinovateEurope 2024.

PointChain
PointChain is an AI-driven solution that enables real-time transaction monitoring and risk scoring for financial institutions. PointChain demoed at FinovateFall 2024.

Torus
Torus improves financial and operational efficiency by enabling banks and fintechs with data-driven insights from the billing and transactional data they already have. Torus demoed at FinovateEurope 2024.

We’re excited to host all of these companies, as well as our speakers, panelists, and sponsors, on February 25 through 26 in London. Get your ticket soon to save, and we’ll see you there!

Photo by Nick Fewings on Unsplash

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Neonomics Acquires Ordo to Expand Open Banking Expertise in the UK

Neonomics Acquires Ordo to Expand Open Banking Expertise in the UK
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, Neonomics
  • Neonomics has acquired UK-based payments and data provider Ordo to expand its services in the UK and beyond.
  • Specifically, Neonomics will leverage Ordo’s expertise in Variable Recurring Payments (VRP) and pay-by-bank tools.
  • The acquisition has been approved by the UK Financial Conduct Authority and Financial Supervisory Authority of Norway.

Norway-based open banking innovator Neonomics has offered its payments and financial data solutions since 2017. This week, the company purchased Ordo, a UK-based open banking payments and data service provider.

Financial terms of the agreement, which was approved by both the UK Financial Conduct Authority and the Financial Supervisory Authority of Norway, were not disclosed.

Ordo was founded by former members of the UK Faster Payments scheme in 2014, becoming an FCA authorized open banking payments provider. The company’s payments and data services include variable recurring payments as well as pay-by-bank tools.

“We are proud to join forces with one of the most well positioned independent open banking providers in Europe, to jointly scale our offering to both existing and new customers across the UK and Europe,” said Ordo CoFounder and Managing Director Fliss Berridge. “The two teams bring a wealth of experience in developing tailored solutions in a complex and highly regulated environment at what we believe will be among the industry’s most competitive commercial terms.”

Neonomics delivers payment initiation and account information services to a wide range of businesses, as well as a pay-by-bank app directed at consumers. The company also offers a newly launched AI tool, Nello AI, to serve as a personal finance manager app to motivate consumers with a monthly financial review, daily spending meter, a chatbot, and more.

“The team at Ordo represents some of the most experienced payments experts in the UK, having a leading voice across many of the most important forums that span the UK and EU in shaping how open banking will evolve,” said Neonomics Founder and CEO Christoffer Andvig. “This acquisition strengthens our commercialization strategy and time to market while expanding our product offering.”

Neonomics will leverage Ordo to help it accelerate its growth by offering services in the UK and other regions. With Ordo’s UK-centric payment tools, including its Variable Recurring Payments (VRP) capability, Neonomics plans to build a more open and connected economy.

The agreement comes as new payments regulations, including the Payments Services Regulation (PSR) and the third Payment Services Directive (PSD3), sit on the horizon. These regulations are expected to standardize open banking practices, enhance consumer protection, and drive further adoption of open banking solutions across Europe.

Acquiring Ordo positions Neonomics to benefit from these changes. The company’s payment suite and data tools are suited to offer more connected and seamless payments that are tailored to the continuously evolving regulatory landscape.

Photo by sl wong

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Method Financial Raises $41.5 Million to Compete with Plaid, MX, and Finicity

Method Financial Raises $41.5 Million to Compete with Plaid, MX, and Finicity
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Funding, Method Financial
  • Method Financial has raised $41.5 million in Series B funding.
  • The funding round, led by Emergence Capital and joined by investors like avra and Samsung Next, brings Method’s total funding to $60 million.
  • The company plans to use the funds to enhance loan refinance automation, expand card network integrations, and deepen banking relationships.

Financial connectivity API provider Method Financial has raised $41.5 million. The Series B round was led by Emergence Capital. New investors avra and Samsung Next also participated, along with existing investors Andreessen Horowitz, Y-Combinator, and Ardent Venture Partners.

Today’s round more than doubles Method Financial’s previous funding total, bringing the company’s total funding to $60 million. The company will use today’s round to accelerate delivery of its loan refinance automation and expand into other use cases that leverage card network integrations. It will also deepen its banking relationships to deliver more competitive products and expand credit card network integrations to streamline checkout.

“Our latest round of funding will help us build on Method’s already strong growth trajectory. Our team takes immense pride in supporting millions of Americans on their financial journeys while helping lenders and fintechs increase conversion with better user experience and engagement,” said Method CoFounder and CEO Jose Bethancourt. “As we serve new markets with our growing data and payment capabilities, we are thrilled to collaborate with Emergence and avra, as well as our existing investors, including Andreessen Horowitz, YC, and other leading stakeholders in fintech.”

Method was founded in 2021 to provide real-time, permissioned read/write access at 15,000 financial institutions, without requiring a consumer’s username and password. The company’s APIs power end-to-end refinance experiences, real-time account data access, and one-click checkout for over 60 fintechs, lenders, and FIs including Aven, Upgrade, SoFi, and PenFed. Since launch, Method has enabled 30 million passwordless account connections for 4 million consumers and has facilitated over $500 million in liability repayments.

“Method’s strength lies in the broad usability of its data and payment products across a wide range of industries and verticals,” said avra Managing Partner Anu Hariharan. “Initially, Method enabled lenders to offer competitive financial products by providing real-time visibility into consumer debts. Now, they are increasingly expanding their reach, supporting new use cases like card linking and new verticals like retail and travel.”

Method recently launched a new credit card connectivity solution called Card Connect, which offers transaction-level data. Since launching Card Connect, Bilt Rewards saw two million users connect 10 million cards to earn points on their eligible purchases.

Method recently demoed at FinovateSpring 2024, where it showcased its Connect, Data, and Pay APIs. During the demo, Method explained how the tools essentially serve as a single sign on (SSO) for all of a user’s liabilities without exposing their personal information.

Method Financial fits into the growing ecosystem of financial connectivity providers like Plaid, MX, and Finicity. However, Method differentiates itself with its unique focus on liabilities and its write capabilities that enable integration and real-time updates. Overall, Method is suited to feed the increasing demand for open banking APIs as consumers, banks, and fintechs continue to seek real-time data aggregation.

Photo by Brett Sayles

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