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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
ID.me raised $340 million in a Series E investment plus a credit facility, which boosts its valuation to over $2 billion and brings its total funding to $1.1 billion.
The funding will accelerate secure, reusable digital identity solutions and combat AI-driven fraud, which cost the US up to $521 billion annually.
ID.me now counts 152 million users, totaling 60% of US adults, with adoption across 20 federal agencies, 45 states, and 600+ brands.
Digital identity network ID.merevealed this week that it has raised $340 million in a Series E financing round plus a credit facility. The round values ID.me at more than $2 billion.
Ribbit Capital led the investment, while existing investors Ares Credit Funds and Moonshots Capital, as well as new investors, including Positive Sum, also participated. ID.me will use the funding to accelerate its mission to expand access to secure, reusable digital identity and to stop AI-driven fraud.
The funds, which bring ID.me’s total raised to $1.1 billion, come at a time of rising fraud across the globe. According to the Government Accountability Office (GAO), the US government lost up to $521 billion annually to fraud between 2018 and 2022. The increase in fraud is fueled by stolen identities and deepfakes, both of which are increasing vulnerabilities faster than ever.
“Fraud is evolving at the speed of AI—and so are we,” said ID.me Founder and CEO Blake Hall. “Secure identity is foundational to AI ecosystems that will depend on memory, context, and authentication, and ID.me is leading the charge. This funding strengthens our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”
ID.me was founded in 2010 to serve as a digital identity wallet that helps users prove and share their identities online without disclosing additional personal information. The company maintains a digital identity network that includes 20 federal agencies, 45 state agencies, and 600+ retail brands, all of which use ID.me to verify customers’ identities and affiliations. ID.me’s ID wallet helps users prove they belong to certain affiliated groups, such as teachers, students, first responders, or military veterans.
Last year, ID.me added 20.4 million new wallets, which breaks down to over 55,000 each day. That same year, it also powered more than 409 million successful logins, representing a 44% increase year-over-year. In total, ID.me counts 152 million users, representing nearly 60% of adults in the US.
“We believe the AI revolution will reshape the global economy, and identity will be its foundation,” said Ribbit Capital General Partner Justin Saslaw. “As AI agents become ubiquitous, trusted identity tokens will enable secure, seamless interactions between people, organizations, and machines. ID.me has built one of the most advanced and widely adopted digital identity wallets in the world, giving it a durable advantage in creating and scaling the identity tokens that will power this new era. We’re excited to partner with Blake and the ID.me team as they expand their leadership in the token-driven AI economy.”
Banking solutions provider nCino announced the general availability of ProBanker by FullCircl.
The new offering, developed in partnership with Experian, gives banks and other financial institutions visibility into credit status, affordability, and liquidity.
nCino was founded in 2012. The company acquired FullCircl in October 2024.
Less than a year after acquiring Client Lifecycle Intelligence platform FullCircl, banking solutions provider nCino has announced the general availability of ProBanker by FullCircl. Developed in collaboration with fellow Finovate alum Experian and part of a suite of Smart Solutions, ProBanker provides near real-time visibility into commercial credit status, affordability, and liquidity across the UK lending landscape. This enables banks and other financial institutions to follow and observe potential opportunities and risks at both the portfolio and individual level.
“This isn’t theoretical—it’s about solving the fundamental problem every commercial lender faces: How do you assess true customer risk and identify opportunity when you only see part of their financial picture?” nCino Associate Director, Product Management, Immy Tugcu said. “ProBanker represents a timely and transformational capability for both traditional and alternative funding providers looking to improve portfolio performance, retain market share, and meet growing expectations around speed, compliance, and customer experience.”
ProBanker leverages a rich dataset of approximately 18 million UK commercial credit accounts, as well as business current account data beyond the mandated Competition and Markets Authority 9 (CMA9) banks. The solution empowers lenders with a multi-bank, total market view of a customer’s credit exposure, and enables them to track both affordability and liquidity in near real-time. ProBanker helps strengthen portfolio health by spotting early warning signs of financial distress, and enhances customer outcomes through proactive engagement and personalized outreach.
In a statement, nCino noted that, in an initial pilot with a major UK bank, the financial institution observed that ProBanker helped them identify potential credit risks six months earlier on average compared to its current processes. The bank also said ProBanker helped them support customers who were eligible for extended or new funding products.
“In today’s fast-paced and increasingly complex lending environment, real-time, high-quality data and insight are the bedrock of being able to make confident, informed decisions at speed,” said David Gallihawk, Experian UK&I Chief Product Officer, Business Information Services. “ProBanker delivers exactly that. Our collaboration with nCino will bring greater transparency and help modernize lending opportunities, allowing clients to unlock deeper value from their portfolios.”
Founded in 2012, nCino made its Finovate debut at FinovateEurope 2017 in London. The company’s ProBanker with FullCircl launch comes a little over a month after the company announced that Japanese bank group SBI Credit Guarantee Co., Ltd. had gone live with nCino as the platform for its mortgage guarantee business. In May, nCino unveiled a range of new platform enhancements designed to help banks, credit unions, and other financial institutions secure a competitive advantage via intelligence-driven automation.
What are you looking forward to most at FinovateFall next week (September 8 through September 10; New York Marriott Marquis Times Square)? Is it the 60+ live fintech demos that will hit the stage first thing Monday morning? Maybe it’s our keynote address on banks and stablecoins, or one of our executive briefings on community banking or AI in financial services? Maybe you’re one of the lucky ones invited to our special Leaders+ event Sunday evening?
Whatever you’ve got your sights set on, we’re thrilled to have you join us in New York for our annual fall conference. And to further whet your appetite for all things FinovateFall, here are a few exciting options to add to your agenda that Finovate attendees over the years have cited as among their favorites.
Tickets to the show are still available! Visit our FinovateFall registration hub and save your spot today!
Analyst All Stars: How financial services have been changed forever
FinovateFall always kicks off Day Two with our Analyst All Stars session. One of our most popular features, Finovate’s Analyst All Stars showcases three leading fintech analysts who take the stage for just seven minutes each to focus on a specific issue in our industry. Our expert analysts will share their insights on the trends that are impacting fintech today and driving the innovations of tomorrow. Tue, Sept 9. 9:05 am.
Tech Trends That Will Define Financial Services & Fintech into the Next Decade
The Bank of 2030—How to Move from a Product Centric Design to Life Stage Banking
Beyond the Application: Making Customer Onboarding More Effortless
Speaker-Led Lunch Discussions: A Taxing Time for Fintech: JPMorgan Data Fees & What it Means for Open Banking in the US
Our Speaker-Led Lunch Discussions are a great way to network and share insights with leading fintech analysts, founders, and executives on some of the most topical issues in fintech and financial services. This year, we’re focusing on the challenges that open banking is facing in the US—from JPMorgan’s threat to charge for access to consumer data to the regulatory battles in Washington, DC and in the courts. Tue, Sept 9. 12:40 pm.
Investor All Stars: In turbulent times, what is the outlook for the market & what does it mean for funding levels, valuations & the future of financial services? Looking to the future, how can niche product fintechs be turned into platform companies?
What is the current state of fintech funding? How will the policies of the Trump administration impact investment in growing fintechs? What can we expect in the M&A space? What areas of fintech are seeing the strongest investment and where are fintechs most vulnerable to funding shortfalls? Our Investor All Stars panel will tackle all these questions and more! Wed, Sept 10. 3:35 pm.
Featuring:
Josh Tanenbaum, Managing Partner, Rebalance Capital (moderator)
FinovateFall 2025 is just over a week away. Coming to the New York Marriott Marquis in Times Square, this year’s fall conference begins on Monday, September 8 and continues through Wednesday, September 10.
With more than 2,000 senior decision-makers, 60+ live fintech demos, and 475+ financial institutions represented—including all of the top 20 US banks—FinovateFall 2025 is set to be one of our biggest events to date. If you haven’t registered, there’s still time! Visit our FinovateFall hub and save your spot today.
To help you make the most of your visit, here’s a quick checklist of things-to-do and need-to-knows.
Get Connected
Be sure to download the ConnectMe app and set up your profile. You’ll be able to review the agenda, set your schedule for the week, and start networking.
For live updates, follow #FinovateFall on LinkedIn and X/Twitter.
FinovateFall 2025 will feature more than 10 hours of dedicated networking time. Keep an eye out for our interactive discussion tables, which are a great way to connect with peers and share insights on issues ranging from AI in financial services to the battle for deposits.
Registration opens each conference morning (Monday through Wednesday) at 8 am. Continental breakfast and coffee will be available in the networking area.
General sessions begin at 9 am each morning.
Highlights
Our live demos begin Monday morning and continue through Tuesday afternoon. The Best of Show awards presentation will take place Tuesday evening at 5:50 pm in the networking hall.
Be sure to check out some of our perennial attendee favorites including Analyst All-Stars on Tuesday morning at 9:05 am, our industry stages on Wednesday morning starting at 10:45 am, and our Investor All-Stars Panel on Wednesday afternoon at 3:35 pm.
Join us for book signings with Ben Feller, Jason Mikula, and Theodora Lau. And have a little fun in our networking area with a portrait from our onsite caricaturist or a magic trick from our award-winning strolling magician and mentalist!
Final notes
Please remember to bring—and wear—your badge every conference day. You’ll need it to enter the event.
Dress code is business casual to business formal.
Questions? Visit our team at the registration booth on site, or ask a Finovate team member for assistance.
We can’t wait to show you what we have in store for you this year! See you in NYC!
Autumn does not officially arrive for a few more weeks. But for many of us, the end of the Labor Day weekend serves as a pretty good starting point for the fall season. We’ll be watching the headlines over the next few days here on Finovate’s Fintech Rundown to see if September brings the kind of acceleration in news activity that we’ve come to expect around this time of year.
And did we mention that FinovateFall is just days away? There’s still plenty of time to get your ticket and join us in New York, Monday, September 8 through Wednesday, September 10.
Crypto and DeFi
Cryptocurrency platform Geminifiles for an IPO, seeking a valuation of as much as $2.22 billion.
El Salvador announces plan to divide bitcoin reserves into multiple wallets to defend against potential future quantum computing attack.
Digital banking
UK-based digital bank Zopaacquires AI-powered payments automation company Rvvup.
Chase selects Nova Credit’sCash Atlas solution to power its cash flow underwriting capabilities, and the company’s Credit Passport to enhance decisioning with international credit data.
A look at the companies demoing at FinovateFall in New York on September 8 – 10. Register today using this link and save 20%.
EnFi
EnFiis an AI platform addressing challenges in data, risk visibility, and staffing within commercial lending.
Features
Delivers highly-accurate borrower data ingestion, classification, and spreading
Provides near-instant credit box fit analysis for deal screening
Offers automated portfolio monitoring that flags risks before they happen
Who’s it for?
Banks, credit unions, private credit funds, and fintech lenders.
Monkey Tech
Monkey Tech is a digital, transparent supply chain finance marketplace that is revolutionizing working capital through its auction-based multi-funder platform.
Features
Includes an auction-based marketplace with 115+ lenders
Provides 100% digital supplier onboarding in three clicks
Delivers a 36bps average rate reduction vs market
Who’s it for?
Monkey Tech connects large corporations, SMEs and their supplier networks with banks, credit unions, and institutional investment funds.
OmniAI
OmniAI accelerates borrower onboarding with AI agents that automate document collection, data verification, and intelligent follow-ups, delivering decision-ready data directly into underwriting.
Features
Guides borrowers from intake to underwriting via email, SMS, and voice
Collects documents and verifies data in real-time
Responds 24/7 and prevents borrower drop-off
Who’s it for?
Banks, credit unions, and non-bank lenders across SBA, equipment finance, real estate, and other lending verticals.
ONEBIT
ONEBIT is an AI-powered financial assistant that connects small business sales and banking data, delivering real-time insights, reports, and smarter tools for easier financial management.
Features
Delivers real-time financial insights across sales and banking
Automates reports and cash flow tracking
Simplifies decision-making for small business owners
Who’s it for?
Small-and-medium-sized business owners.
Sideko
Sideko significantly reduces integration time by allowing users to describe workflows in plain English and get back complete, production-ready integration code quickly.
Features
Produces production-ready integration code for internal and external use from a simple prompt
Shortens time to revenue and value
Offers zero-maintenance integrations that automatically stay current
Who’s it for?
Banks, financial institutions, insurance organizations, payment providers, SMBs, and startups.
WaveCX
WaveCX is a digital engagement layer for financial institutions, delivering interactive demos, AI-powered search, and personalized in-app content to drive adoption and reduce support costs.
Features
Streamlines banking tasks instantly with type-to-action interface
Reduces support costs and errors with AI-powered automation
Drives adoption and improves customer satisfaction with personalized recommendations
This week’s edition of Finovate Globallooks at recent fintech news from Singapore.
Open banking firm Atlas Consolidated raises $18.1 million
Open banking may be on the ropes in the US, but progress is marching on in Singapore. Open banking platform Atlas Consolidated, a Singapore-based Banking-as-a-Service (BaaS) company, announced that it had secured $18.1 million in Series B funding. The investment was led by Tin Men Capital, and featured participation from strategic investors Getz, Inc. and Woodside Holdings Investment Management.
Atlas Consolidated is the owner of Hugosave and HugoHub, and leads the consortium behind HugoBank. Hugosave is the company’s wealth and savings app with 100,000 customers in Singapore. HugoHub is Atlas Consolidated’s BaaS platform, which provides a full-suite of modular banking services via a single integration. HugoBank secured its digital banking license from the State Bank of Pakistan at the beginning of 2025.
“Banks are under immense pressure to transform digitally while still relying on decades-old core systems that are costly, rigid, and fragmented,” Tin Men Capital Co-Founder and Managing Partner Jeremy Tan said. “HugoHub’s full-stack ‘bank-in-a-box’ solution gives banks the flexibility to launch new products, integrate services where they matter most, and refine features without disrupting the wider system. In turn, they can innovate faster, compete with neo and challenger banks, and operate with radically better economics.”
HugoHub, according to the company, has reduced users’ technology spending by up to 90%, cut overall operating expenses by up to 80%, and enables higher customer-to-staff ratios than are possible with traditional banking models.
“This investment marks a pivotal step in our mission to build better banks through technology,” Atlas Consolidated CEO David Fergusson said. “With Tin Men Capital’s support, we can accelerate HugoHub’s expansion to new markets, helping traditional financial institutions create more efficient, inclusive, and sustainable systems.”
Ripple, Circle join investment in Tazapay
Speaking of funding for Singapore fintechs, Ripple (US) and Circle Ventures were among a handful of investors that participated in an investment in Singapore’s Tazapay, a cross-border payments infrastructure platform. The Series B round was led by existing investor Peak XV Partners. Norinchukin Capital (Japan), GMO VenturePartners (Japan), January Capital, and ARC180 were also involved in the funding. The amount of the investment was not disclosed.
Currently licensed to operate in Singapore, Canada, and the EU, the funding will help the Tazapay expand further into areas such as Japan. The company is presently applying for licenses in the UAE, Hong Kong, Australia, and the US, and is also applying for a Digital Payment Token (DPT) license in Singapore. Securing this license would help Tazapay meet regulatory obligations ahead of incorporating digital payment tokens, including stablecoins, into its cross-border payment offering. Company CEO and Co-founder Rahul Shinghal noted this last point in his statement on the funding.
“We’re entering the next chapter of our journey—one where modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce,” Shinghal said. “With this round, we are not just capitalizing the business; we are investing in our long-term vision to become the builder of a global payment collection and payout infrastructure built on modern rails. One of the key use cases this infrastructure serves is being the Fiat bridge for stablecoins in emerging markets.”
Founded in 2020, Tazapay offers local collection and payout capabilities in more than 70 markets around the world. The company processes more than $10 billion in annualized payment volume and is growing at 300% year-over-year. The company’s platform provides comprehensive coverage across alternative payment methods, cards, virtual bank accounts, payouts, and stablecoins.
OCBC launches billion dollar commercial paper program using the blockchain
Did someone say “stablecoins”? There’s news on Singapore’s blockchain beat, as well.
Singapore’s Oversea-Chinese Banking Corporation (OCBC) has initiated a new, $1 billion digital US commercial paper program using blockchain technology. The goal of the program is to provide access to almost instantaneous short-term US dollar funding capabilities by leveraging on-chain tokenized securities and funds. In addition to issuance and settlement, the program will also feature on-chain record-keeping and servicing.
“Singapore’s blockchain ecosystem is advancing fast, and asset tokenization is gaining real momentum,” OCBC Head of Global Markets Kenneth Lai said. “Our focus is now firmly on commercialization. We have already tapped blockchain for intraday repo and reverse repo transactions—capabilities added last year—and are now expanding into the USCP market to strengthen liquidity and resilience.”
OCBC is the longest established bank in Singapore, formed in 1932 via the merger of three banks: the Chinese Commercial Bank Ltd, the Ho Hong Bank Ltd, and the Oversea-Chinese Bank Ltd. OCBC is also the second-largest financial services group in the Southeast Asia by assets. The institution offers a range of financial services including consumer, corporate, and private banking; insurance; and asset management. OCBC reported net profits of $2.88 billion (S$3.7 billion) for the first half of this year.
Here is our look at fintech innovation around the world.
Central and Southern Asia
Mumbai-based business microservices startup TransBank raised $25 million.
Infosys and Mastercardteamed up to scale cross-border payments.
The State Bank of Pakistan (SBP) opened applications for the first cohort for its new regulatory sandbox.
Latin America and the Caribbean
Latin American super app Rappi teamed up with international wallet platform AstroPay to launch a new wallet-on-file integration.
Bitso’s B2B arm Bitso Business announced a partnership with stablecoin payments provider BVNK.
The Central Bank of Barbados pickedMontran Corporation to design and deploy the country’s new instant payment system.
Identity and fraud prevention solution provider Alloy has teamed up with Mastercard to launch an enhanced customer onboarding solution for financial institutions and fintechs.
The joint offering will use both identity verification technology and open finance to streamline onboarding and fight fraud.
Founded in 2015, Alloy most recently demoed its technology at FinovateFall 2022.
Identity and fraud prevention platform provider Alloy has inked a global partnership with Mastercard to introduce an enhanced customer onboarding solution for financial institutions and fintechs. The new offering comes as these businesses cited a 60% increase in fraud in 2024, according to Alloy’s 2025 State of Fraud Report. The report further noted that 93% of those financial organizations surveyed planned to invest in ongoing fraud prevention measures this year, with 64% planning to deploy identity risk technology, as well.
“Fraud continues to be a significant challenge for financial institutions and consumers alike, underscoring the urgent need for robust fraud prevention measures,” Mastercard EVP and Global Head of Identity, Dennis Gamiello said. “This joint onboarding solution will be a game-changer in the fight to reduce fraud and deliver a seamless and secure customer experience.”
The joint offering from Alloy and Mastercard will leverage both identity verification and open finance to simultaneously streamline onboarding and fight fraud. The solution provides a consistent identity risk strategy and onboarding experience across channels. Alloy will leverage Mastercard’s global digital identity verification capabilities and suite of open finance-powered account opening solutions to support financial institutions as they manage fraud, identity risk, and secure account funding throughout the customer lifecycle.
At the same time, Mastercard solutions will be integrated and pre-configured in Alloy to enable seamless deployment. Customers will have access to 200+ risk and identity solutions available via Alloy that are designed to help boost customer conversion rates, reduce the amount of manual reviews, and provide comprehensive end-to-end coverage.
“Successful fraud prevention starts with a holistic approach to understanding identity. Our partnership with Mastercard will allow more financial institutions and fintechs to evaluate customer identities holistically,” Alloy Chief Product Officer Parilee Wang said. “The end result for those companies will be a better digital experience and less fraud risk, allowing their businesses to grow effectively.”
Founded in 2015 and headquartered in St. Paul, Minnesota, Alloy introduced itself to Finovate audiences at FinDEVr SiliconValley 2016, and returned to the Finovate stage six years later for FinovateFall 2022 in New York. More recently, Alloy was included in CNBC World’s Top Fintech Companies roster for 2025 and, in June, the company announced a partnership with IG Group to help the FTSE 250 online trading firm maintain regulatory compliance as it grows.
With FinovateFallright around the corner (September 8 through 10), we wanted to update you as we fill out the last spots on our speaker roster for the event. Today, as part of the Finovate blog’s Speaker Series, we’re showcasing a pair of presentations focused on advanced authentication strategies for identity verification and how AI can be effectively deployed to help enhance the lending journey. We’re also previewing a special fireside chat on the latest big developments on the open banking front.
If you haven’t bought your ticket yet, you’re in luck! Our registration discount ends on Friday so visit our FinovateFall registration page today and take advantage of big savings!
Frictionless by Design: How T-Secured Network Authentication Accelerates Digital Adoption
Mark Clancy, Senior Vice President of Cybersecurity, T-Mobile, will discuss the value of network-based authentication in a world of forgotten passwords, clumsy verification steps, and vulnerable SMS codes. Clancy will also show how network-based authentication verifies identity directly through the mobile network , requiring no passwords, no codes, and no extra clicks. Mon, Sep 8, 10:05 am.
At T-Mobile, Clancy spearheads the company’s strategy to safeguard consumer data and boost enterprise-wide security measures. Clancy has 25+ years of experience in information technology and cybersecurity, having held executive positions at Sprint, Citigroup, and the Depository Trust & Clearing Corporation.
Headquartered in Bellevue, Washington, and a self-described “Un-carrier,” T-Mobile provides an advanced 4G LTE and nationwide 5G network that offers reliable connectivity for 132+ million customers. A publicly traded company on the NASDAQ exchange under the ticker TMUS, the company has a market capitalization of $282 billion.
Autopilot Lending: The AI blueprint for seamless lending journeys
Sandeep Hinduja, Vice President and Head of Banking (Americas), Newgen Software Inc., will discuss how to automate the end-to-end lending journey with no manual touchpoints; deliver seamless, personalized onboarding across digital, mobile, and in-branch channels; and leverage AI for smart document management to ensure both security and accuracy. Tue, Sep 9, 2:55 pm.
As Head of Financial Services as Newgen Software, Hinduja oversees business strategy and operations across the United States and Canada, driving innovative solutions for lending, account opening, business process automation (BPA), enterprise content management (ECM), and customer communication management (CCM).
New Delhi-based Newgen Software offers an AI-first unified digital transformation platform that provides native process automation, content services, customer engagement, and AI/ML capabilities. The company’s low-code application platform enables companies to build and deploy complex, content-driven and customer-engaging business applications from the cloud.
Will JPMorgan’s data war kill fintech innovation?
Lastly, I want to call your attention to a very special late addition to the FinovateFall lineup. Jim Marous—co-publisher of The Financial Brand, owner and publisher of the Digital Banking Report, and host of the Banking Transformed podcast—will speak about the state of open banking in the US today. Wed, Sep 10, 1:45 pm.
From JPMorgan’s announced plans to begin charging for access to customer data to Visa’s report that it is shuttering its open banking division, the drive to bring open banking to the US feels as if it is at a major crossroads.
Presented as a Fireside Chat, this discussion with banking and fintech veteran Marous will give delegates a greater understanding of the issues involved in the fight to make open banking a reality here in the States.
Payroll and HR platform Gusto plans to acquire retirement plan provider Guideline, expanding its small business benefits offerings.
While terms of the deal were not disclosed, Guideline was valued at $1.15 billion in 2021, and given that fintech valuations have compressed by around 26%, is estimated to be worth around $851 million today.
The combined companies aim to simplify retirement plan access for tens of thousands of small businesses, especially as states increasingly mandate employer-sponsored retirement options.
Payroll, benefits, and HR management solutions company Gusto unveiled plans to acquire retirement plan provider Guideline.
While financial terms of the agreement were not disclosed, Guideline had a $1.15 billion valuation in 2021 and claimed an annualized revenue of $140 million as of January 2025. Generally speaking, fintech valuations have been compressed by about 26% on average since 2021, so it is roughly estimated to be valued at $851 million today.
Gusto, originally known as ZenPayroll, was founded in 2011 to provide a cloud-based payroll, benefits, and HR management solution. The company’s tools help businesses track time and attendance, onboard new employees, manage existing talent, and more. In 2015, Gusto added to its small business offerings by offering health insurance and workers’ compensation, and a year later launched 401(k) retirement plans via a partnership with Guideline. Today, the San Francisco-based company serves more than 400,000 small businesses and is now valued at $9.3 billion.
Founded in 2015, Guideline helps businesses offer 401(k) and IRA retirement benefits to their team in a simplified approach. The California-based company works with small-to-mid-size businesses, franchises, and self-employed individuals across multiple industries, with dentist offices being the top category.
While Guideline has a direct-to-business approach, it also offers its plans via distribution partnerships with ADP, Block, Intuit, Paylocity, TriNet, and Rippling—all competitors of Gusto. Interestingly, Guideline plans to maintain integrations with those partners even after the acquisition closes.
Together, the two will serve tens of thousands of small businesses, offering them an integrated approach to adding retirement benefits, no matter the size of their team. Today’s deal will help Gusto serve its customers with more of Guideline’s services without having to worry about revenue sharing.
“We’re going to have the ability, in the right moment at the right time, to help [small business customers] if they want. It’s never going to be something they have to do—it’s always their choice—but help them understand that they can actually go provide retirement benefits to their team,” said Gusto CEO and Co-Founder Josh Reeves. “And so one thing I’m really, really excited about is I think we’re going to have a chance to help a lot more companies with retirement benefits by being together than if we had stayed separate.”
The acquisition is especially salient for Gusto, given that some states have passed mandates that now require businesses to provide their employees with retirement plans. The move also helps Gusto differentiate itself from competitors like ADP and Paychex by owning more of the retirement infrastructure directly, rather than relying solely on partnerships. In doing so, Gusto is strengthening its full-service appeal as the go-to HR and benefits provider for small businesses.
A look at the companies demoing at FinovateFall in New York on September 8 – 10. Register today using this link and save 20%.
AirKey
AirKey, developed by Capital One, turns bank-issued cards into hardware tokens for authentication and identity verification.
Features
Customers who activate their card with AirKey experience up to 20% lower transaction fraud, report higher NPS scores, and more.
Who’s it for?
Banks, credit unions, and any credit or debit card issuer.
Anonybit
Anonybit delivers privacy-preserving biometric authentication for fintech and banking, securing all touchpoints including enabling AI agents to prevent account takeover, fraud, and scams.
Features
Provides built-in integrations to online banking platforms
Delivers seamless, privacy-preserving authentication at every touchpoint
Manages blocklists, self-service account recovery, and tokens
Who’s it for?
Banks, credit unions, fintechs, payment providers, and enterprises.
Aurem
Aurem is an AI-powered operating system for retirement and wealth providers, unifying products, processes, and data to cut costs, simplify operations, adapt to regulation, and scale growth.
Features
Cuts costs
Eliminates inefficiency
Equips retirement and wealth providers with intelligence, automation, and adaptability to scale in a changing world
Who’s it for?
Banks, recordkeepers, and RIAs.
Casap
Casap’s AI-driven platform helps financial institutions and fintechs intelligently tackle the growing issue of first-party fraud and automate their disputes to improve operations.
Features
80% of dispute cases automated
85% reduction in processing time
40% decrease in customer contacts
51% reduction in write-offs/losses, improving NPS scores
Who’s it for?
Banks, credit unions, and fintechs.
Chimney
Chimney uses industry leading property data and award winning technology to generate real estate loans at lower costs with fewer staff required.
Features
Enriches existing systems, core, and CRM data with real-time property data
Uses propensity modeling and scoring to predict borrowers
Who’s it for?
Banks, credit unions, digital banking providers, and fintech partners serving homeowners.
Decisionly
Decisionly automates disputes for card issuers, using AI to drive scalable, compliant, and cost-effective dispute operations.
Features
Intelligent intake: Provides real-time validation at intake
Robust evaluation: Automates custom workflows to improve accuracy
Faster resolution: Improves cardholder experience and deadline compliance
Who’s it for?
Card issuers including banks, fintechs, and processors.
Krida
Krida is an AI intelligence layer for commercial banking, removing lending bottlenecks and delivering real-time insights that deepen relationships, boost revenue, and accelerate growth.
Features
Automates document collection, data extraction, and credit materials
Uses a self-serve borrower intake with instant feedback
Equips bankers with insights for faster, more confident lending decisions
Who’s it for?
Banks, credit unions, venture lenders, and non-bank lenders.
After the CFPB withdrew its lawsuit over Section 1033 of the Dodd-Frank Act, the bureau stated that it would begin a new, “accelerated” rulemaking process with an Advanced Notice of Proposed Rulemaking (ANPR) within three weeks. That three-week period ended last week, on August 22nd, when the CFPB published its Personal Financial Data Rights Reconsideration, effectively kicking off the new rulemaking process.
Much is riding on how this rule takes shape, not only for banks, but for fintechs and consumers alike. Visa’s recent move to abandon its US open banking initiatives underscores just how high the stakes are. In its latest release, the CFPB asked for comments and data to guide its decisions on four critical issues tied to Section 1033. Below, we’ll walk through each issue and explore the potential impact.
Representatives: who deserves access to the data?
The first of the four issues is defining who can serve as a representative on behalf of the consumer. The question essentially asks who can make a request to access the consumer’s data on their behalf. Today, this includes not only the consumer themselves, but also third-party aggregators and fintechs, as well. If the CFPB decides to narrow this scope, it could potentially block third-party services from accessing consumer data, limiting it to the consumer and the bank itself.
The latter would favor incumbents as it allows them ultimate control. For fintechs, this would create a risky environment. The uncertainty would make it risky to invest and build APIs that could be restricted in the future.
Fee structures: who pays for data access?
The second of the four issues seeks to determine the optimal amount of fees that banks should be able to charge in response to a customer-driven request. As a result, data access may no longer be free for aggregators, which may require them and fintechs to reshape their business models in response.
Charging for data would allow banks to recoup compliance costs for API access, but may receive negative attention from fintechs and consumers. Additionally, fintechs with already thin margins may be forced to look for an exit.
Data security: weighing threats vs. benefits
The third of the four issues the CFPB spotlighted is the threat and cost-benefit analysis for data security associated with complying with Section 1033. If the Bureau requires compliance with tighter security requirements, all stakeholders will feel the repercussions of tighter security expectations.
With tighter compliance, small fintechs that previously had limited compliance requirements may now need to step up to higher standards. This could ultimately lead to consolidation, since large, well-resourced firms would be able to more easily meet compliance.
Data privacy: the cost of protection
The final of the four issues the CFPB spotlighted is the threat landscape surrounding data privacy associated with Section 1033 compliance. The Bureau may set new limits on how fintechs are allowed to monetize consumer data in an effort to maintain their privacy.
With new guardrails on how they are allowed to monetize consumer data, fintechs may face limitations on using data for personalized marketing or other secondary data uses. As a result, innovation may slow down, but consumers may gain more confidence.
Your turn to comment!
The CFPB’s recent call for comments is more than regulatory housekeeping. It is highly consequential and will determine the future of open banking in the US. The Bureau’s questions signal real costs, risks, and opportunities.
It is important to make your voice heard on these issues! In the six days that the comment period opened, only seven comments have been submitted. Send your comments to the CFPB by October 10, 2025 at 11:59 pm EST.
