Finovate Global Malaysia: Agentic Commerce, Embedded Finance, and Shariah-Compliance

Finovate Global Malaysia: Agentic Commerce, Embedded Finance, and Shariah-Compliance
By David Penn Posted on
Categories: Finovate Global

This week’s edition of Finovate Global looks at recent fintech news and headlines from Malaysia.

Agentic Commerce: Mastercard Completes Pilot Project

One of the biggest stories in payments in 2026 is the rise of agentic commerce. This week, Mastercard announced that it had completed an AI-powered commerce pilot project in partnership with Kuala Lumpur-based CIMB Group Holdings Berhad (CIMB), Malayan Banking Berhad (Maybank), and RHB Banking Group (RHB). The project involved using Mastercard Agent Pay to show how AI can help consumers complete common tasks such as coordinating transportation. Specifically, as part of the pilot, an AI agent booked a ride from Kuala Lumpur International Airport to KL Sentral via hoppa, an international mobility provider. The transaction was facilitated by CardInfoLink’s AI agent connected to hoppa’s taxi and airport limousine service.

“This milestone underscores how AI can simplify everyday interactions without compromising customer control,” CIMB Bank Berhad and CIMB Malaysia CEO Gurdip Singh Sidhu said. “It reflects our vision of banking that is intuitive and seamlessly woven into life. Our collaboration with Mastercard enables us to deliver secure and responsible AI-powered experiences to our customers.”

The transaction leveraged tokenized credentials that were authenticated with Mastercard Payment Passkeys to ensure strong customer verification and data protection. This pilot project was designed to confirm the feasibility of agentic transactions in Malaysia. Commercial deployment of the technology will be introduced in phases with Mastercard working with issuing banks and partners to educate consumers on agentic commerce and the safe use of AI-powered payments.

“Mastercard’s first live agentic transaction in Malaysia demonstrates how AI can engage in commerce responsibly,” Mastercard Country Manager Malaysia, Beena Pothen said. “With Agent Pay, we’re embedding trust, authentication, and transparency directly into AI-driven payments. In collaboration with CIMB, Maybank, and RHB, we’re meeting the highest standards of tokenization, enhancing security and consumer protection.”

This week’s news is the latest example of Mastercard’s involvement in bringing agentic commerce to the Asia Pacific region. It follows authenticated agentic transactions completed previously in Australia, New Zealand, and India.

Embedded Finance: Boost Bank Unveils Insurance Offering

Customers of Malaysia’s Boost Bank can now access insurance plans directly from their banking app. Courtesy of a partnership with Great Eastern General Insurance Malaysia, Boost Bank will offer three protection plans for travel (TravelProtect), personal accidents (CoreProtect PA), and daily commutes (CommuteProtect).

Priced at RM15 ($3.30) annually, TravelProtect offers coverage of up to RM250,000 ($55,000). CoreProtect PA provides personal accident coverage, including accidental death and permanent disablement benefits, of up to RM50,000 ($11,000). CommuteProtect specifically covers personal accidents of up to RM25,000 ($5,500) during daily commutes. Both CoreProtect and CommuteProtect will be available for RM25 ($5.50) a year. The average monthly income in Malaysia is between RM3,000 ($660) and RM4,000 ($880).

Purchasing any of the three plans will unlock the new Protect Jar feature under the Special Jars section of the Boost Bank app. The Protect Jar offers 3.3% per year in daily compounding interest. Customers who make deposits into the Protect Jar will get a complimentary TravelProtect Lite PA plan. The plan provides coverage for personal accidents and travel disruptions such as flight delays.

Headquartered in Kuala Lumpur, Boost Bank began operations in January 2024 as Malaysia’s first fully digital bank. A joint venture between Axiata’s Boost and RHB Banking Group, and licensed by Bank Negara Malaysia, Boost Bank offers digital banking services, including lending, savings, and e-wallet solutions.

Compliance: Regulating Islamic Fintech and a Look at the Malaysian Model

There are countries in the Asia-Pacific that have higher Muslim populations than Malaysia. Indonesia, for example, has the largest Muslim population in the world with more than 230 million Muslims (87% of its population). Bangladesh has about 150 million Muslims who represent approximately 91% of its population.

By comparison, Malaysia’s 20 million Muslims might seem small. Yet Muslims do represent the majority of the country’s population at 63%. This creates a significant opportunity to provide financial services, specifically Islamic and shariah-compliant financial services, to customers throughout the country.

We discussed the challenges and opportunities in Islamic finance in a Finovate Global interview a little over a year ago. A recent essay in Salaam Gateway took a more focused look at innovation and Islamic finance, highlighting the approach taken by Malaysia’s Bank Negara Malaysia (BNM), which oversees and establishes standards for Islamic banking and Shariah-compliance for financial institutions, and Securities Commission Malaysia (SC), which regulates capital markets, digital asset exchanges, and peer-to-peer (P2P) lending platforms.

The article discusses not only the internal operations of BNM and SC—and the institutions’ partnerships with entities such as the Islamic Development Bank—but also notes that Malaysia’s Shariah governing system has positively influenced regulators and policy advisors in Muslim-majority markets in Southeast Asia. Indonesia was highlighted specifically for its recent efforts to expand its fintech regulatory sandbox, and pursue stronger coordination between financial regulators and those committees and boards providing Shariah certification.

Here is our look at fintech innovation around the world.

Central and Eastern Europe

  • Lithuanian P2P lending platform Finbee secured an investment of €5 million from venture builder Tesonet.
  • Estonian fintech group lute Group to establish its first fully digital bank in Ukraine.
  • Latvia unveiled a new specialized credit institution license to empower new financial service providers and fintechs.

Middle East and Northern Africa

Central and Southern Asia

  • Mongol iD, Mongolia’s largest payment infrastructure firm, has joined RTGS.global’s liquidity network.
  • FinHarbor completed the core deployment of a hybrid neobank platform for Asterium, a fintech project based in Uzbekistan.
  • India’s Pine Labs announced plans to launch stablecoin payments outside of the country.

Latin America and the Caribbean

Asia-Pacific

  • China announced that it will provide state banks with $44 billion to support technology investments.
  • Malaysian financial institution Boost Bank partnered with Great Eastern General Insurance Malaysia to offer three protection plans via its app.
  • Southeast fintech platform Fiuu issued a report highlighting recent developments in the Philippine fintech industry.

Sub-Saharan Africa

  • Kenya’s Capital Markets Authority (CMA) announced plans to bring robo-advisors and digital investment platforms into its licensing framework.
  • Western Union and Sasai Fintech partner to launch a new international money transfer mobile app for consumers in South Africa.
  • Ghana-based digital lender Fido Ghana raised $5.5 million in debt financing.

Photo by Mohd Jon Ramlan on Unsplash

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Celebrating the Women of FinovateEurope 2026

Celebrating the Women of FinovateEurope 2026
By David Penn Posted on
Categories: FinovateEurope 2026, Women in Fintech

Finovate kicks off its Women’s History Month commemoration with this salute to the women who introduced their companies to our FinovateEurope 2026 audience last month in London.

These CEOs, founders, executives, and analysts demoed a range of fintech solutions to help banks and other financial institutions integrate enabling technologies, grow their businesses, and enhance the customer experience for financial services consumers everywhere.

Natalia Corobco, CEO, Founder, and Marzia Niccolai, Chief AI Officer, Francis

Francis helps financial institutions and fintechs tackling open finance problems put AI at the center of the client’s value proposition. Headquartered in London, England, Francis was founded in 2025. Demo video.

Triin Preem, Head of Strategic Partnerships, Northern Eruope, Mifundo

Mifundo helps banks grow business volume by up to 15%, reflecting the share of foreign and cross-border customers in most European markets, by enabling them to serve this segment effectively. Headquartered in Tallinn, Estonia, Mifundo was founded in 2022. Demo video.

Erin Smith, Policy & Impact Analyst, MyPocketSkill

A digital technology companies working at the nexus of fintech and edtech, MyPocketSkill is making Gen Z more money savvy and able to save and invest. Headquartered in London, England, MyPocketSkill was founded in 2020. Demo video.

Svitlana Vyetrenko, Founder & CEO, Outsampler

Outsampler improves research productivity by 40% so that portfolio managers can focus on high-value client conversations. Headquartered in Strasbourg, France, Outsampler was founded in 2025. Demo video.

Marya Bazzi, CEO & Co-Founder, Sea.dev

Sea.dev automated underwriting workflows, eliminating copy-paste and document collection so credit analysts can focus on higher-value analysis, faster decisions, and growth—ultimately serving more of the economy. Headquartered in London, England, Sea.dev was founded in 2024. Demo video.

Savannah Price, Founder & CEO, and Lizzie Collins, Chief of Staff, Serene

Serene transforms a compliance burden into sustainable growth. The company’s technology delivers insights that optimize collections, reduce arrears, empower front-line teams, and safely expand lending to underserved markets. Headquartered in London, England, Serene was founded in 2023. Demo video.

Magda Targosz, CEO, Skill Studio AI

Skill Studio AI reduces training costs by 95%, accelerating compliance readiness from weeks to minutes, and scales globally with 170-language support—eliminating a regulatory risk and operational bottlenecks. Headquartered in Dublin, Ireland, Skill Studio AI was founded in 2025. Demo video.

Ashley Parekh, CEO, Syntex

Syntex lets clients submit applications and documents digitally while giving bank teams visibility into approvals, document status, and ownership, reducing delays, drop-off, and lost deposits. Headquartered in San Francisco, California, Syntex was founded in 2025. Demo video.

FinovateSpring 2026 will take place at The Sheraton San Diego on May 5-7. Register today using this link and save 20%.

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Tyfone Unveils New Loan Servicing Solution Loanovia for Credit Unions

Tyfone Unveils New Loan Servicing Solution Loanovia for Credit Unions
By David Penn Posted on
Categories: Alumni News, Tyfone
  • Digital banking solutions provider Tyfone announced the launch of new loan servicing and payments business unit, Loanovia.
  • Loanovia’s flagship lending solutions have already been deployed in more than 80 applications at credit unions throughout the US.
  • Among Finovate’s earliest alums, Portland, Oregon-based Tyfone made its Finovate debut at FinovateSpring 2008.

Digital banking solutions provider Tyfone announced the formation of Loanovia, a new loan servicing and payments business unit. The company added that Loanovia’s suite of lending solutions—Skip-A-Pay, Quick Pay, and Collect—have already been deployed in more than 80 applications at credit unions across the US.

Loanovia’s solutions will help credit unions automate payment processes, lower operational costs, enhance the member experience, and generate non-interest income. Skip-A-Pay is an automated, self-service loan skip solution that enables members to defer a loan payment in real time, while generating non-interest income for the credit union via skip fees. Quick Pay is a real-time, digital-banking-agnostic loan payment solution that enables account holders to pay any loan from any device using any payment method without requiring a digital banking login. Collect centralizes outreach, payment processing, and performance reporting into a unified workflow to provide financial institutions with greater visibility into delinquency trends, automate follow-ups, and improve recovery rates.

“Loanovia was established with a simple mission: to make lending services easy for credit unions,” Loanovia President John-Ashley Paul said. “We recognized that loan payments and loan skips were pain points. They were time-consuming, manual, and often frustrating to the member and the credit union. Working in collaboration with credit unions, we resolved those issues and have found the perfect balance in generating operational savings and workflow efficiencies, while providing an invaluable service. Members are empowered to pay or skip loans anytime, from anywhere on any device, without requiring a branch visit or phone call. The initial response was overwhelmingly positive; it is a great tool for building long-term relationships and loyalty.”

In a statement, Tyfone announced that Loanovia had partnered with the Iowa Credit Union League (ICUL) to make the company’s loan servicing solutions available to a broader range of credit unions. Based in West Des Moines, Iowa, ICUL is a non-profit trade association that represents the interests of Iowa’s state and federally chartered credit unions, serving more than 1.5 million members.

“At ICUL, we are committed to delivering meaningful value to our member credit unions through thoughtfully selected service offerings and strategic partnerships,” Iowa Credit Union League Chief Operating Officer Matt Oakley said. “This partnership with Loanovia reflects that commitment and our continued focus on connecting credit unions with trusted providers offering innovative, proven solutions. These solutions drive efficiency, streamline processes, and strengthen member loyalty—further advancing the member-first philosophy that defines Iowa credit unions.”

One of Finovate’s earliest alums, Tyfone made its Finovate debut at FinovateSpring 2008. In the years since then, the Portland, Oregon-based company has grown into a major digital banking solutions provider with more than 100 customers and 200+ integrations. Tyfone integrates digital banking, instant payments, and intelligent, AI-powered tools to help financial institutions streamline operations, improve efficiency, and enhance customer experiences.

Are you a credit union that is looking for ways to build your membership community, offer innovative new solutions and take advantage of enabling technologies like AI? This year’s FinovateSpring2026 in San Diego—May 5 through May 7—will feature a range of sessions dedicated to helping credit unions grow and thrive.

Check out the FinovateSpring agenda today for more information on our AI on a Shoestring executive briefing, our Credit Union Spotlight and Breakfast, and more!

Photo by Jimmy Woo on Unsplash

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The Pitfalls of the 95% Confidence Paradigm for Banking Data Quality

The Pitfalls of the 95% Confidence Paradigm for Banking Data Quality
By David Penn Posted on
Categories: Sponsored

The following is a sponsored post from Ted O’Connor, SVP and Head of Business Development—Sell Side, with global fintech company Arcesium.

Arcesium delivers an advanced data, operations, and analytics platform used by some of the world’s most sophisticated financial institutions, including hedge funds, banks, institutional asset managers, and private equity firms.

Every bank is in a different stage of its data journey. Recently, while attending the InvestOps Europe conference in Paris, one of the presenters mentioned that when it comes to gauging the level of confidence banking leadership has in the integrity of its data, 95% confidence in their data is the barometer to which they need to adhere. Ninety-five percent has always been a desirable grade to get on a paper or in a class, but is it good enough when talking about a multinational bank operating in dozens of jurisdictions?

Like the air we breathe, data is odorless, colorless, silent, and hard to measure. That is, until data is presented next to dollar signs on a disclosure report, balance sheet, or interminable spreadsheet; then it becomes real. The past few years have seen financial institutions grappling with suddenly ballooning volumes of financial data, not an easy ask for legacy data systems and banks that might run on scores of different systems.

The 95% confidence fallacy

While a 95% confidence interval[i] in data is the target, banks really have only 80-90% confidence in their data today. In a 2024 study of sell-side reference data operations, over 90% reported that poor data quality caused issues in clearing and settlement, risk management, and regulatory reporting, with 80% citing challenges in automated trading and market connectivity emanating from inaccurate data.[ii] Moreover, that 80-90% is a bit of an illusion. Here’s the reality. Say, I am a bank CTO or chief data scientist, and I have 80% confidence in the data that is coming to me via any type of transaction. I then push that data into the clearing or matching process. Then, I push it into the settlement process—and there’s cash movement that goes along with this. That data keeps getting pushed from one process to the next, to the next, and the next, which means there’s a little bit of degeneration that happens all the way through. By the time I get to the end of my processes, I have 50% confidence in my data, and that little anomaly from the first process becomes a serious data problem 10 steps later. However, this is an inscrutable problem to recognize, much less solve. It depends on the robustness of the institution’s existing data and operational infrastructure, the stage of its data transformation journey, and the asset classes and structures involved.

Meanwhile, the risk of getting it wrong is high. On the undesirable end of the 95% spectrum, Citi shelled out about a billion dollars in fines in the last five years for irregularities in its regulatory reporting data and governance failures, and responded by spending millions modernizing its technology.[iii] Deutsche Bank, Wells Fargo, and Mitsubishi Bank are examples of institutions that have worked through confidential supervisory findings called Matters Requiring Attention (MRAs) and Matters Requiring Immediate Attention (MRIAs). Many of these have been rooted in data processes. In this context, even 95% (and even if it were a true 95%) isn’t enough for global banks—UBS, for instance, has a balance sheet larger than the Swiss economy. A Swiss bailout of such a bank is challenging. The risk needs to be near-zero, which means confidence needs to be near-perfect.

Is AI the key?

AI has lit a fire in the bellies of buy-side and sell-side institutions alike, as they know their data house must be in order for the AI house to be in order. According to Deloitte, “Banks’ AI readiness is often slowed by the data foundations that models depend on. Poor infrastructure can result in data sprawl, vulnerability, and limited data-led innovation, limiting model efficacy.”[iv] But once a bank has their AI game in place, it can play a pivotal role in bringing order to the data chaos. There are several data quality management functions that AI agents are already helping with. For example, one financial institution recently leveraged generative AI to automate data lineage capture and metadata generation, achieving 40% to 70% productivity gains in specific tasks.[v]

AI presents ready-assistance for unstructured data, in particular. If managing structured data is like sorting pre-labeled packages, managing unstructured data with AI is like instantly reading thousands of handwritten letters, identifying key facts in each one, and organizing those facts into a searchable spreadsheet—a task impossible for humans at scale. But, again, the art of the possible when it comes to AI will come back to data quality; it will require institutions to centralize their data management capabilities, with an emphasis on tools that support strong data lineage and reporting accuracy.

The 100% data confidence paradigm

Having a 95% data confidence barometer presents several pitfalls when executing tech transformations. Regulatory considerations, data governance challenges (especially with unstructured data), surging market volumes, private credit, and the adoption of AI in the financial services industry are forces that cannot be ignored. Realistically, banking leaders need to keep their eyes on the 100% prize for quality data management.[vi] Everybody under the roof will do a better job if they trust that the information they do their jobs with is reliable, timely, and precise.

[i] Investopedia, May 6, 2025. https://www.investopedia.com/terms/c/confidenceinterval.asp#toc-explain-like-im-five

[ii] Acuity Knowledge Partners, November 2024. https://assets.ctfassets.net/cy2jgjrgaerj/5V6yrRfzYZU1LXqUgvulAD/ed8d59627717a3fafe96f36123d36e8e/increasing-efficiency-in-sell-side-reference-data-management-fow.pdf

[iii] Banking Dive, July 11, 2024. https://www.bankingdive.com/news/citi-occ-fed-135-million-penalties-2020-orders-data-quality-risk-management-control-fraser-hsu/721061/

[iv] Deloitte, October 30, 2025. https://www.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/banking-industry-outlook.html

[v] BCG, May 6, 2025. https://www.bcg.com/publications/2025/tech-banking-transformation-starts-with-smarter-tech-investment

[vi] Arcesium, February 2, 2026. https://www.arcesium.com/resources/driving-trusted-data-framework-for-banks?utm_source=one-off&utm_medium=display&utm_campaign=MC-2026-Q1_SS-Data-Quality-To-Do-List&utm_content=finovate-sponsored-article

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TAPP Engine’s 9Squid Launches Private Markets Platform for Credit Unions and CFIs

TAPP Engine’s 9Squid Launches Private Markets Platform for Credit Unions and CFIs
By David Penn Posted on
Categories: Alumni News, TAPP Engine
  • A subsidiary of TAPP Engine, 9Squid Private Markets has introduced its AI-powered private markets platform for credit unions and community financial institutions (CFIs).
  • 9Squid will enable credit unions and CFIs to launch securitization initiatives thanks to modern asset-liability management (ALM) and liquidity management tools.
  • TAPP Engine, headquartered in Quincy, Massachusetts, made its Finovate debut at FinovateSpring 2025 in San Diego.

9Squid Private Markets, a subsidiary of TAPP Engine, has unveiled its AI-powered private markets platform for credit unions and community financial institutions. The platform enables credit unions and CFIs to access modern asset-liability management (ALM) and liquidity management tools, making securitization a systematic, repeatable balance sheet strategy rather than a complex, one-off transaction.

“Community institutions play a central role in capital formation, yet many have been priced out of securitization markets,” Tapp Engine Founder and CEO Tosin Osunsanya said. “9Squid brings securitization, balance sheet modeling, and an AI-powered platform built for credit unions and community financial institutions of all sizes. It provides a repeatable and efficient path to institutional capital while preserving cooperative governance and relationship banking.”

Credit unions in the US hold approximately $2.4 trillion in assets—and more than $1.7 trillion in consumer loans. CFIs, specifically community and regional banks, hold another $6 trillion in assets and more than $4.1 trillion in consumer, small business, and commercial loans. This data is from the National Credit Union Administration (NCUA) and the Independent Community Bankers of America (ICBA), respectively. Despite these sizable holdings, the rate of securitization among credit unions and community banks is lower than it could be.

Securitization would enable credit unions and CFIs to convert their loan assets into marketable securities that could be sold to institutional investors. Backed by the cash flows generated from underlying loans, securitization provides credit unions and CFIs with greater liquidity, balance sheet optimization, and risk diversification.

Unfortunately, securitization often brings costs, structural complexity, and minimum size thresholds that have made it difficult for credit unions and CFIs to participate and access institutional private markets. 9Squid helps lower these barriers, enabling efficient access to institutional capital. The platform uses balance sheet impact simulation and optimization to enable institutions to evaluate securitization scenarios before execution. This allows institutions to understand projected impacts on liquidity, capital ratios, earnings, and concentration exposure. The platform helps ensure disciplined decision-making, making securitization an ongoing balance sheet management tool rather than a singular transaction.

This point was underscored in a statement by TDECU Holdings President Michael Massey, who noted that “what stood out was the ability to understand balance sheet outcomes before committing to a transaction. That level of visibility allows credit unions to evaluate securitization as a practical and repeatable balance sheet strategy.”

9Squid currently supports securitization of personal loans, auto loans, and home equity lines of credit using regulator-aligned structures. With regard to the current partnership, five credit unions are in the initial pipeline, and plans are in effect to onboard additional credit unions and CFIs of all sizes.

Based in Quincy, Massachusetts, Tapp Engine made its Finovate debut at FinovateSpring 2025 in San Diego, California. Founded in 2021, the company partners with credit unions and CFIs to increase financial wellness, enhance loyalty, attract new users, and boost revenue and deposit retention. At the FinovateSpring last year, Tapp Engine demonstrated how its platform blends intuitive design, educational resources, and an emphasis on accessibility to deliver self-directed, automated investing experiences to accountholders—all from within their digital banking environment.

Are you a credit union or community bank looking for ways to enhance the customer experience, attract new members, and grow deposits? FinovateSpring 2026—May 5 through May 7—will feature a range of special sessions dedicated specifically to the issues of credit unions and community financial institutions. Check out the FinovateSpring agenda to learn more!

Photo by Sasun Bughdaryan on Unsplash

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Cinareo Teams Up with Aspect to Boost Contact Center Performance

Cinareo Teams Up with Aspect to Boost Contact Center Performance
By David Penn Posted on
Categories: Alumni News, Cinareo Solutions
  • Capacity planning and insights platform Cinareo announced a partnership with workforce management and engagement solutions company Aspect.
  • The partnership will help contact centers reduce reliance on spreadsheets in favor of modern, scenario-based workforce management and capacity planning tools.
  • Cinareo made its Finovate debut at FinovateSpring 2025 in San Diego. The Ontario, Canada-based company was founded in 2022.

Capacity planning and insights platform Cinareo has forged a partnership with workforce management and engagement solutions company Aspect. The two firms will join forces to help contact centers reduce spreadsheet risk, align budgets with service goals, and transition from planning to performance faster and smarter.

The partnership will help contact centers move away from spreadsheets and siloed assumptions in order to forecast demand and build schedules, as well as model “what-if” scenarios, compare service-cost tradeoffs, and manage long-range staffing decisions. Cinareo and Aspect will empower companies to align day-to-day workforce operations with customer experience targets, budgets, hiring plans, and more by connecting scenario-based capacity planning to real-time scheduling and intraday execution.

“Cinareo was built to eliminate the limitations and risks of spreadsheet-based planning by providing structured, scenario-based capacity planning across staffing, financials, and recruitment,” Cinareo CEO Karen Elliott said. “Together with Aspect, we’re delivering a unified workflow from planning to execution so organizations can plan with confidence, staff accurately, and adapt easily as demand changes.”

Cinareo’s technology enables guided, scenario-based capacity plans across both weekly and monthly horizons—supporting planning up to 52 weeks and extending up to three years—that are aligned to budgets, hiring windows, and service targets. Aspect takes approved plans and enables organizations to build actionable schedules and manage intraday adjustments as circumstances demand. The combination of Cinareo’s technology and Aspect’s intelligent platform will allow companies to plan with precision, execute with confidence, and prove impact with plan-vs-actual variance tracking, thresholds, and more.

“Contact center leaders need a defensible plan they can trust, and the ability to operationalize that plan as conditions change,” Aspect VP of Partner Ecosystem Anna DeGraftenreed said. “By partnering with Cinareo, we’re linking scenario-driven capacity planning and financial alignment with Aspect’s real-time scheduling and intraday management, so teams can make better decisions earlier and deliver more consistent outcomes.”

Headquartered in Boulder, Colorado, Aspect offers an enterprise workforce management solution, powered by Aspect Intelligence, that unifies AI forecasting, dynamic scheduling, and real-time performance analytics to enable firms to anticipate demand, take timely action, and ensure service quality. With more than 400 contact centers using Aspect’s technology, Aspect counts American Airlines, Bank of America, and Dell among its global brand customers. Jeff Kupietzky is the company’s interim CEO, joining the firm in December 2025.

Founded in 2022, Cinareo made its Finovate debut at FinovateSpring 2025 in San Diego. At the conference, the Ontario-based company demonstrated how its technology streamlines contact center operations and mitigates risk with precise resource allocation and data-driven decision-making. Learn more about Cinareo and the challenge of workforce management and capacity planning in our Finovate Global interview with company CEO Karen Elliott.

Speaking of FinovateSpring, tickets for our 2026 conference in sunny San Diego—May 5 through May 7— are available now. 80% of our demo lineup is already set. Take advantage of big savings and secure your ticket today!

Photo by Narciso Arellano on Unsplash

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Ripple Payments Now Handles More of the Payments Lifecycle

Ripple Payments Now Handles More of the Payments Lifecycle
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Ripple

Digital asset company Ripple is expanding its digital payments platform, Ripple Payments, to create a single, end-to-end platform that consolidates the payments stack.

The California-based company aims to speed up settlement and reduce friction with a full payments infrastructure platform that allows fintechs to operate in the onchain economy by supporting payments made on both fiat and onchain rails. Using the new platform, organizations can collect money, hold it, convert it from fiat to stablecoin and back, manage liquidity, and pay it out.

Bringing all of these capabilities into a single place allows fintechs to manage their entire payments operation. Instead of using one provider for wallets, another for custody, another for FX, and another for payouts, fintechs can now do all of this through Ripple Payments.

Prompting this change are two acquisitions made in 2025. In November of last year, Ripple acquired digital asset custody company Palisade for an undisclosed amount. In August, the company purchased stablecoin-powered global payments platform Rail for $200 million. The added capabilities offer the ability to provision named virtual accounts and wallets, automate collection flows, and exchange and settle funds into operational accounts. Overall, Ripple Payments has processed more than $100 billion in total volume, with Rail adding another $10 billion annually.

“For the global financial system to evolve, fintechs and financial institutions need infrastructure that treats digital assets with the same rigor as traditional finance,” said Ripple President Monica Long. “Success in this space requires enterprise-grade infrastructure, extensive licensing, and deep liquidity—capabilities few can match. Ripple has built the blueprint for blockchain-based enterprise solutions designed to operate at global scale for regulated finance.”

By adding these new capabilities, Ripple can now handle the entire payment lifecycle. The company is positioning itself as more of a regulated global payments infrastructure provider that supports both fiat and stablecoins instead of simply a crypto rails provider. This new role places Ripple in competition with traditional cross-border payment processors and infrastructure vendors such as SWIFT, Visa Direct, Mastercard Cross-Border Services, and large correspondent banking networks, as well as fintech infrastructure players like Stripe, Adyen, and Airwallex.

By combining custody, liquidity management, FX, and payout orchestration into a single platform that supports both fiat and stablecoins, Ripple is positioning itself as a direct challenger to well-established incumbents.

Founded under the name OpenCoin in 2012, Ripple debuted at FinovateSpring the following year. The company provides blockchain-based solutions across traditional and digital finance. Its solutions span global payments, custody, liquidity, prime brokerage, and treasury management tools for banks, fintechs, payment service providers, and crypto businesses.

Ripple offers a stablecoin, RLUSD, that is designed to be used for settlement, liquidity management, and digital dollar transactions within its platform. RLUSD has surpassed $1 billion in market cap since launching in December 2024. Ripple’s cryptocurrency, XRP, is often used as a bridge asset to move value between currencies in cross-border payments.

Photo by Dan Cristian Pădureț

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80% of Demos Locked In for FinovateSpring 2026

80% of Demos Locked In for FinovateSpring 2026
By Heather Stowell Posted on
Categories: Finovate Marketing, FinovateSpring 2026

FinovateSpring 2026 takes place in sunny San Diego on May 5-7. Register to attend by March 20 and save $400.

With just two months to go, the excitement for FinovateSpring 2026 is building as our demo lineup fills up fast.

On May 5 and 6, more than 50 fintech and financial services companies will take the stage to showcase their latest innovations, giving attendees a front-row seat to the cutting edge of fintech.

Every demo is handpicked to highlight fresh, impactful technologies that solve real-world challenges and drive efficiency. This is the place to be to see where the industry is headed and discover solutions that can transform your business.

Here’s a sneak peek at what our 2026 demo lineup will help you achieve:

  • Revolutionize payments: Enable low-cost, near-instant global transactions with stablecoin-powered FX.
  • Empower financial wellness: Offer integrated Earned Wage Access solutions to retain customers.
  • Boost deposits: Add digital business savings accounts to your strategy.
  • Approve smarter loans: Use AI-driven underwriting to reduce costs and expand SME market share.
  • Gain cash visibility: Automate treasury management with real-time insights.
  • Simplify compliance: Reduce back-office work and save money with tailored, attorney-reviewed solutions.
  • and more!

And that’s just the beginning!

Stay tuned as we reveal the full lineup in the coming weeks. Whether you’re looking to solve a specific challenge or simply want to stay ahead of the curve, FinovateSpring 2026 is where innovation meets opportunity.

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Celebrate Cinco de Mayo with us!
FinovateSpring kicks off on May 5, but the festivities start early in San Diego. Explore vibrant Cinco de Mayo celebrations the weekend before and on the day itself in iconic neighborhoods like the Gaslamp Quarter and Old Town.

On May 5, we’ll bring the holiday spirit to FinovateSpring with themed lunches, special drinks, and more!

Stay tuned for more details, and get ready to enjoy San Diego while discovering the latest in fintech innovation.

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Eltropy Unveils Agentic AI Platform for Credit Unions

Eltropy Unveils Agentic AI Platform for Credit Unions
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Eltropy
  • Eltropy is introducing a governed agentic AI platform built specifically for credit unions.
  • The new platform enables credit unions to create, deploy, and supervise AI agents within defined operational and compliance guardrails.
  • By centralizing agent deployment and governance, Eltropy positions credit unions to scale AI safely and competitively, narrowing the innovation gap between smaller institutions and large banks with larger technology budgets.

Member communications platform Eltropy is launching an agentic AI platform specifically for credit unions this week. The tool offers a single location for credit unions, fintechs, and core banking providers to work collaboratively on an agentic AI project.

The platform allows users to create, govern, integrate, and deploy AI agents. The tool offers credit unions visibility into what an AI agent did, why it did it, what data it used, and how it reached its decision. Every AI agent is subject to standard operating procedures and authentication protocols, so the agents are unable to take actions outside of the procedures or data boundaries.

Additionally, Eltropy’s agentic AI platform offers organizations control over which employees are able to access and control the agents. “This ensures Agentic AI is innovative but controlled, powerful but predictable, open but always safe,” said Eltropy CEO and Co-Founder Ashish Garg.

Offering credit unions the ability to build and govern AI agents in-house reduces vendor sprawl and creates a structured distribution channel for fintech partners. Rather than layering solutions across consumer touchpoints, credit unions can centralize automation under a governed agent framework.

Crucially, Eltropy’s agentic AI platform positions credit unions to compete more effectively with large banks that have significantly larger IT and R&D budgets. By embedding auditability, authentication protocols, and role-based controls, the platform lowers the regulatory and operational risk that often prevents smaller institutions from deploying advanced AI tools.

“This is just the beginning,” said Abhishek Tiwari, Chief Product Officer, Eltropy. “For us, agentic AI is not about automation for its own sake, it’s about delivering measurable business outcomes. Our AI agents already authenticate members and provide account information, and we’re rapidly expanding into payments, loan system updates, collections workflows, and more. The goal is simple—drive real operational impact across the credit union. This is how agentic AI becomes real.”

Eltropy’s Agentic AI platform helps shift agentic AI from experimental chatbot deployments to core operational infrastructure. With AI advancements moving rapidly and traditional financial institutions struggling to keep up, agentic AI platforms like Eltropy’s will be crucial fintech infrastructure as the industry continues to evolve.

If you’re a credit union, check out opportunities in our Credit Union Spotlight Program at FinovateSpring, taking place March 5 through 7 in San Diego, California.

Photo by Google DeepMind

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Quavo Enhances Fraud Dispute Operations for Apple FCU

Quavo Enhances Fraud Dispute Operations for Apple FCU
By David Penn Posted on
Categories: Alumni News, Quavo Fraud & Disputes
  • Fraud dispute management specialist Quavo Fraud & Disputes has teamed up with Virginia-based Apple Federal Credit Union (Apple FCU).
  • Apple FCU will implement Quavo’s QFD platform, which delivers greater efficiency, faster fraud claim resolutions, and a better overall experience for credit union members.
  • Quavo Fraud & Disputes most recently demoed its technology at FinovateFall 2025 in New York. Joseph McLean is Co-Founder and CEO.

A technology partner and strategic advisor specializing in fraud dispute management, Quavo Fraud & Disputes announced a new partnership with Apple Federal Credit Union (Apple FCU). The partnership will transform the credit union’s dispute management operations via the implementation of Quavo’s QFD platform, bringing greater efficiency, faster claim resolutions, and a frictionless experience for Apple FCU members.

“Apple FCU shares our vision for creating smarter, more member-centric dispute processes,” Quavo CEO and Co-Founder Joseph McLean said. “Together, we’re replacing outdated workflows with intelligent automation that meets members where they are—online, mobile, and ready for faster results.”

Quavo’s QFD platform is an AI-powered solution that automates the dispute process from intake through to recovery and resolution. The platform was developed specifically for financial institutions and technology companies, enabling them to reduce manual workloads, accelerate fraud and dispute resolution times, and ensure regulatory compliance. Trained on 20+ million real-world cases, QFD helps financial institutions scale their operations as they grow. Apple FCU will benefit from a streamlined self-service portal accessible via online and mobile banking, real-time visibility into claims and status updates, reduced reliance on call centers and branch offices, as well as faster, fairer dispute outcomes.

With nearly 270,000 members and $5.4 billion in assets, Apple Federal Credit Union serves the communities of Fairfax, Frederick, and Prince William counties in Virginia. Established in 1956, Apple FCU is a not-for-profit, membership-owned institution dedicated not only to providing financial services to the local community, but also to promoting community involvement, financial literacy, and charitable giving.

Headquartered in Wilmington, Delaware, Quavo most recently demoed its technology at FinovateFall 2025. At the conference, the company demonstrated its latest innovation, Investigation AI, that leverages an 18-point detection framework to resolve fraud claims faster with greater accuracy. The combination of Investigation AI with Advanced Intake Deflection, which helps combat so-called “friendly” or first-party fraud, enables QFD to deliver real-time decisioning, cost reductions, and superior customer experiences.

Quavo’s partnership news comes a month after the company announced a pair of major C-suite additions. In January, Quavo announced that David Oldershaw and Tony DiGiorgio had been appointed as Chief Operating Officer and Chief Technology Officer, respectively. Oldershaw joins Quavo after most recently serving as the Chief Operating Officer for OfficeRnD, where he led go-to-market functions, partnerships, corporate development, and operations. DiGiorgio was formerly Chief Architect at healthcare operations platform provider symplr, where he helped grow the company from $200 million to $500 million in annual recurring revenue.

Photo by Praswin Prakashan on Unsplash

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What the OCC’s 2026 Rulemaking Means for Stablecoin Issuers

What the OCC’s 2026 Rulemaking Means for Stablecoin Issuers
By Julie Muhn (@julieschicktanz) Posted on
Categories: Julie's Column, Thought Leadership

In July of 2025, the GENIUS Act, the first comprehensive federal framework for stablecoins, became law. Last week, the US Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking (NPRM) to implement the GENIUS Act’s requirements for payment stablecoin issuance and related activities.

While the new proposed rulemaking makes the GENIUS Act a reality instead of just a statute, it doesn’t change the intent of the GENIUS Act. It operationalizes the GENIUS Act by creating a dedicated regulatory section for issuers, establishing the licensing mechanics and timelines, forming the capital and operational requirements, and stipulating foreign issuer treatment.

2025 GENIUS Act

The 2025 GENIUS Act had a crucial role in setting the stage for the legality of stablecoin payments. It defined what a payment stablecoin is and who is allowed to issue stablecoins. It stipulated that stablecoins require full reserve backing with liquid assets, prohibited interest-bearing stablecoins, and created a federal and state regulatory structure. Overall, the purpose of the 2025 Act was to set guardrails. With this year’s notice of proposed rulemaking, the OCC is bringing a more procedure-focused approach.

New dedicated regulation

As mentioned above, the OCC is operationalizing the GENIUS Act in four major ways, the first of which creates a dedicated regulatory section (12 CFR Part 15) that establishes standards and requirements for stablecoin issuers. Creating the new part in the CFR changes the GENIUS Act from a written requirement into more enforceable supervisory standards.

New licensing

Additionally, new licensing mechanics come into play that create a defined pathway for entering the stablecoin market. Under the OCC’s proposal, prospective permitted payment stablecoin issuers (PPSIs) must submit a formal application outlining their business model, governance structure, reserve management approach, technology infrastructure, and risk controls. The proposal establishes what constitutes a “substantially complete” application and outlines supervisory review expectations. The new licensing process makes stablecoin issuance similar to applying for a bank charter, rather than launching a new product.

New capital and operational requirements

Similarly, the 2026 capital and operational requirements make stablecoin issuance look more like running a regulated financial institution than launching a new product. While the 2025 GENIUS Act focused primarily on reserve backing, the OCC’s 2026 proposal stipulates minimum capital thresholds, liquidity buffers beyond token redemption obligations, formal governance structures, internal control standards, and explicit third-party risk management expectations.

Established banks already have these processes embedded into their operating procedures. For fintechs, however, the new requirements may call for meaningful investment in governance, compliance documentation, and risk oversight infrastructure. These new formalities raise the cost of entry into the stablecoin issuance market.

New foreign issuer treatment

The OCC’s 2026 proposal incorporates foreign issuer rules directly into the scope of the plan, meaning that non-US players can no longer rely on regulatory ambiguity as a strategy to enter the market.

Just as the proposed framework requires US issuers, foreign issuers serving US users would still be required to apply for OCC registration, provide evidence of Treasury’s comparability determination, consent to US jurisdiction and OCC access to records, and meet requirements around US-available reserves (subject to any reciprocal arrangement).

This limits offshore entities operating in regulatory gray zones while marketing to US customers. The new rulemaking makes clear that global stablecoin players will need to align with US supervisory expectations, creating a more demanding roadmap for cross-border participation.

What this means for banks and fintechs

The proposed rulemaking makes clear that stablecoins are moving closer to the core of regulated banking activity and are increasingly being treated as part of the financial infrastructure rather than as a crypto experiment. As stablecoin issuance begins to resemble supervised activity, banks enter the conversation from a position of structural advantage. With governance frameworks, capital planning, risk management, and compliance processes already embedded in their operating models, traditional financial institutions may be better positioned than fintechs to comply with the regulatory demands of stablecoin issuance.

As compliance costs associated with stablecoin issuance rise, so does the barrier to entry. Not every fintech will have the appetite or resources to meet capital, liquidity, and supervisory expectations. The increased friction, however, brings institutional credibility to a payment type once considered adjacent to Bitcoin. This credibility lowers the risk for issuers as well as for end consumers and will ultimately transform stablecoins into an everyday tool.

Photo by Moose Photos

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: 10x Banking, Fintech Rundown, MasterCard, Worldline

Welcome to March! Women’s History Month, Holi (the Hindu “Festival of Colors”), the start of spring, St. Patrick’s Day, Eid al-Fith, Cesar Chavez Day … there’s a lot to celebrate and look forward to over the next few weeks.

Here on Finovate’s Fintech Rundown, we’re looking forward to the rush of industry news and announcements that typical comes with the seasonal thaw.

Payments

Private equity firm Incore Invest completes its acquisition of CoreOrchestration AB from Worldline.

Apple is in conversation with banks in India to bring Apple Pay to the country later this year.

Embedded finance

Confido, an embedded financial infrastructure platform for law firms and legaltechs, raises $9 million in funding.

Fraud prevention

ThetaRay and Matrix USA team up to help financial institutions modernize their transaction monitoring programs.

Stablecoins

MoonPay builds infrastructure platform for PYUSD-backed stablecoins.

Agentic AI

Colt Technology Services announces proof of concept for an agentic AI engine developed in partnership with Microsoft.

Banco Santander and Mastercard complete Europe’s first live agentic AI payments transaction.

DeFi

US-based FundBank acquires Irish blockchain startup Trrue.

The Hong Kong Monetary Authority (HKMA), the Shanghai Data Bureau (SDB), and the National Technology Innovation Center for Blockchain ink a Memorandum of Understanding between Shanghai and Hong Kong to apply blockchain technology to develop a cross-border platform to facilitate trade finance.

Open finance

Promoteo teams up with Fiskil to help implement Open Finance across Latin America.

Digital banking

10x Banking teams up with Validata in a strategic partnership designed to help banks accelerate innovation.

Wealthtech

OneVest launches its Agentic Wealth Operating System to help automate middle office operations for advisors.

Photo by Pixabay

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