Finovate Global: Meet the International Alums of FinovateSpring 2025

Finovate Global: Meet the International Alums of FinovateSpring 2025
By David Penn Posted on
Categories: APIMatic, Cinareo Solutions, Finovate Global, Hyperdesk

If our European fintech conference, FinovateEurope, is our most international event, then FinovateSpring—which kicks off next week in San Diego, May 7 through 9—is our most homegrown. This year, for example, only three of the 40+ companies that will be demoing their innovations live on stage are headquartered outside the United States.

This week’s edition of Finovate Global leads off with an introduction to these three fintechs. Hailing from New Zealand, Canada, and Mexico City, respectively, these innovators will provide insights into the kinds of financial challenges faced and solutions sought by businesses and consumers alike.

APIMatic – Auckland, New Zealand

Founded in 2014, APIMatic is a developer experience platform for APIs that enables organizations to drive fast, widespread adoption of their APIs. The platform supports every stage of the API journey, from design and dynamic SDKs to code sample generation and end-to-end automation. Adeel Ali is Founder and CEO.

Cinareo Solutions – Toronto, Ontario, Canada

Cinareo Solutions offers a capacity planning platform that provides pro-active resource planning and financial analysis to cost-efficiently manage front- and back-office team members, as well as support staff. Launched in 2022, the company is a winner of Finovate’s Sustainability & Inclusion Scholarship Program. Karen Elliott is CEO.

Hyperdesk – San Francisco, California and Mexico City, Mexico

Founded in 2025, Hyperdesk provides an AI-powered search engine that helps credit unions and community banks grow their loans and deposits by better engaging with local businesses. Eric Yáñez is Founder and CEO.

Here is our look at fintech innovation around the world.

Central and Southern Asia

  • Mongolia-based digital lender LendMN secured $20 million in debt financing from Lendable.
  • TBC Uzbekistan launched its new SME lending product this week.
  • Business Today India profiled Indian fintech Nucleus Software.

Latin America and the Caribbean

Asia-Pacific

Sub-Saharan Africa

  • Nigerian fintech and microfinance bank, Bankly, has been acquired by C-One Ventures.
  • Fintech startup Djamo raised $17 million to boost financial inclusion in French-speaking Africa.
  • The Central Bank of Nigeria imposed a $190,000 fine on Paystack for operating its latest solution, Zap, without the appropriate licensing.

Central and Eastern Europe

  • Slovenian payment processing company Bankart partnered with Iliad Solutions as its payment testing provider.
  • Berlin, Germany-based corporate card platform Pliant raised $40 million in Series B funding.
  • Polish fintech BidFinance raised €1.6 million in seed funding from 4growth VC, FundingBox, and a group of business angel investors.

Middle East and Northern Africa

  • UAE-based Islamic bank Ruya introduced a new service to enable customers to trade cryptocurrencies via its mobile app.
  • The MENA Fintech Association (MFTA) welcomed Iraq-based digital payments and identity services provider International Smart Card (ISC).
  • Alfardan Exchange partnered with iPiD to launch Qatar’s first real-time payee verification service.

Photo by Gaël Gaborel – OrbisTerrae on Unsplash

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Streamly Snapshot: Why “Data Is the New Blood” in the Future of Finance

Streamly Snapshot: Why “Data Is the New Blood” in the Future of Finance
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2025, Speaker series, Streamly

The phrase “data is the new oil” has echoed across boardrooms and strategy decks for more than a decade. But Tracey Follows, CEO of Futuremade, offers a more visceral, and perhaps more accurate, analogy: data is the new blood. In my conversation with her at FinovateEurope 2025, Follows challenged financial services leaders to rethink how data flows, regenerates, and sustains our increasingly digital and AI-driven economy.

In a world where digital identity, embedded finance, and AI are converging at unprecedented speed, Follows argues that understanding the lifeblood of these systems– data– is critical to building trust, ensuring relevance, and preparing for what comes next. Her insights are a wake-up call for financial institutions that are still operating with a fragmented or overly transactional view of data.

“We hear that data is the new oil. We’ve been hearing that for 20 years. No. No. Data is the new blood. That’s the way I want people to think about it. That’s the metaphor that really does justice to the vital, intimate, personal nature of the kind of data that’s now going to be flowing into AI, and particularly agentic AI, to help it make decisions that encompasses our neurological functions, cognitive functions, physiological functions, alongside our financial decision-making.”

Tracey Follows is a globally recognized futurist, speaker, and author. She is the former Chief Strategy & Innovation Officer at The Future Laboratory and has advised major brands such as Google, Telefonica, and Diageo. Her book The Future of You explores the intersection of digital identity, privacy, and personalization. Follows is a regular commentator in the media and was named one of the top 50 female futurists in the world by Forbes.

Follows is also the founder and CEO of Futuremade, a strategic foresight and futures consultancy that helps organizations anticipate long-term change and build future-ready strategies. With expertise in scenario planning, horizon scanning, and trend analysis, Futuremade supports global clients in sectors ranging from finance to media and technology. The firm’s work emphasizes ethical innovation, societal shifts, and the human implications of emerging technologies.

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Clearwater Analytics Acquires Risk Analytics Firm Beacon

Clearwater Analytics Acquires Risk Analytics Firm Beacon
By David Penn Posted on
Categories: Alumni News, Beacon Technology, Mergers & Acquisitions
  • Clearwater Analytics has completed its acquisition of risk analytics and developer infrastructure company Beacon.
  • The acquisition will boost Clearwater’s capabilities in complex portfolio management for both public and private markets.
  • Beacon made its Finovate debut at FinovateAsia in Hong Kong in 2018. The company is headquartered in New York.

First announced in March, investment management technology platform Clearwater Analytics reported this week that it has completed its acquisition of enterprise risk analytics and developer infrastructure company Beacon. Clearwater acquired the company for approximately $560 million. The company paid 60% of the purchase price in cash and the balance in shares of Clearwater Class A common stock.

The acquisition enhances Clearwater’s capabilities in complex portfolio management—including structured products, private credit, and derivatives—for both public and private markets. Clearwater will integrate Beacon’s cross-asset risk modeling with the front-office capabilities and alternative asset intelligence from its acquisitions of Enfusion Inc. and Blackstone’s Bistro platform, respectively.

This will enable Clearwater to offer a unified platform that covers the entire investment lifecycle from trading and modeling to accounting and regulatory reporting. The platform eliminates front-, middle-, and back-office siloes to provide real-time data, transparency, and scale without the hindrance of legacy software and infrastructure.

“With Beacon, we’ve expanded our platform to deliver end-to-end support across the entire investment lifecycle—from front-office modeling to middle- and back-office operations,” Clearwater CEO Sandeep Sahai said. “Together, along with Enfusion and Bistro, we’re transforming a fragmented industry landscape with a unified platform built for today’s institutional investors—streamlining complexity, accelerating decision-making, and driving performance across public and private markets.”

Founded in 2014, Beacon provides a unified, cross-asset trading and risk management solution for investment and risk management teams. The company’s platform offers pre-built trading and risk applications, as well as the flexibility to build and scale custom analytics and models quickly and efficiently. Beacon’s technology is used by banks to improve risk management and visibility, by investment managers to optimize position and portfolio management, and by energy and commodities firms, as well as alternative asset management firms, to adapt to new markets and more efficiently operate in illiquid markets.

“Beacon’s mission has always been to bring transparency and control to the most complex parts of financial markets,” former CEO and Co-Founder of Beacon Kirat Singh said. Singh is now President, Risk & Performance at Clearwater. “By joining Clearwater, we can now deliver these capabilities at scale. Together, we’re helping investors move beyond reporting to real-time action, with the infrastructure global institutions need to succeed.”

Headquartered in New York, Beacon made its Finovate debut at FinovateAsia 2018 in Hong Kong. The company secured its first banking clients the following year, forging partnerships with Commonwealth Bank of Australia, SMBC Capital Markets, and others. Beacon announced its first European energy clients in 2020 and, in 2021, secured Series C funding in a round led by Warburg Pincus. More recently, Beacon reported that UK-based long-term savings and retirement firm Phoenix Group had deployed Beacon as its first quantitative development platform.

Photo by energepic.com

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Backbase Unveils AI-Powered Banking Platform

Backbase Unveils AI-Powered Banking Platform
By David Penn Posted on
Categories: Alumni News, Backbase
  • Backbase unveiled its new, AI-powered banking platform this week.
  • The new offering combines Backbase’s unified data foundation, Intelligence Fabric, with Agentic AI technology.
  • Headquartered in Amsterdam, Backbase is a four-time Finovate Best of Show winner. The company most recently demoed its technology at FinovateFall 2021.

Calling the launch of its new, AI-powered banking platform “the next phase” of its vision, Backbase pledged that its latest offering will help bankers take advantage of the opportunities in technologies like Agentic AI.

Backbase’s banking platform enhances customer engagement with AI-powered self-service and real-time support, and hardwires AI into employees’ daily operations to maximize productivity and improve decision-making. The technology streamlines and helps scale sales efforts thanks to intelligent activation and end-to-end automation, and provides up-sell and cross-sell pathways, driven by AI, that can grow revenues and deepen customer relationships.

“This isn’t proof-of-concept AI,” Backbase CEO and Founder Jouk Pleiter said. “This is a packaged, production-ready, operating model to move banks from experimentation to execution, fast. AI waits for no bank. It’s not a wait-and-see—it’s here, now, and it’s rewriting the rules of the industry. The time to act is now.”

Backbase’s platform combines the company’s unified data foundation, Intelligence Fabric, with Agentic AI. Intelligence Fabric converts behavioral signals, transactional data, and operational insights into real-time, actionable intelligence. Agentic AI delivers modular, intelligent, purpose-built agents designed specifically for banking and financial services. These agents embed into a variety of operations to automate tasks, indicate next-best actions, and increase productivity.

Backbase also announced the availability of AI Factory, an embedded delivery model to help financial institutions bridge gaps in their AI skills. AI Factory integrates Backbase’s AI experts directly into development teams, enabling them to quickly co-create and then execute innovative use cases and solutions.

“Banks do not need more pilots—they need outcomes,” Pleiter added. “With our AI-powered Banking Platform, we’re going all-in on the AI opportunity and empower banks to boost productivity, automate intelligently, and unlock unprecedented growth faster than ever.”

Founded in 2003, Backbase is headquartered in Amsterdam and maintains offices in Atlanta, Singapore, London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City. The company has been a Finovate alum since 2009, has won Best of Show four times, and most recently demonstrated its technology at FinovateFall 2021 in New York.

Backbase’s announcement comes one month after the company teamed up with fellow Finovate alum Salt Edge in a strategic partnership designed to help banks accelerate compliance with open banking regulations and pursue new revenue opportunities. Also in March, Backbase forged partnerships with Albania-based Tirana Bank and with financial services consulting firm Synpulse.

Photo by Steve Johnson on Unsplash

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FinovateSpring 2025: Women in Fintech, Financial Inclusion, and the State of Community Banking

FinovateSpring 2025: Women in Fintech, Financial Inclusion, and the State of Community Banking
By David Penn Posted on
Categories: FinovateSpring 2025, List series

This year, FinovateSpring will feature a trio of Executive Briefings offering insights into key topics in fintech and financial services.

Featuring panels of industry professionals and moderated by veteran analysts and entrepreneurs, FinovateSpring’s Executive Briefings are an excellent opportunity for attendees to participate in deep-dives and extended discussions on specific issues—and take away significant insights and strategies for action.

Tickets for FinovateSpring are still available. Visit our registration hub today and save your seat!

Wednesday morning, FinovateSpring will host its Women in Fintech Executive Briefing. Titled “How we can solve fintech’s gender diversity problem,” this session will look at the current state of gender diversity in fintech and offer insights into strategies to ensure greater participation by women in financial services and foster female leadership in the industry.

Moderated by Liang Zhao, CEO and Founder of Vansary, this session will feature:

Wednesday afternoon, FinovateSpring will feature its Financial Inclusion Executive Briefing, “How can banks capture the huge growth opportunity offered by this new customer base?”

This session will examine the challenges faced by the unbanked and review ways that banks and other financial institutions can help more individuals and small businesses improve their financial wellness by establishing a positive banking relationship.

Moderated by Jim Perry, Senior Strategist, Market Insights, this session will feature:

  • Priscilla O-lyari, Regional Marketing and Communications Outreach Officer, FACE Coalition

Thursday afternoon, FinovateSpring will present its Community Banking Executive Briefing, “The Common Storm for Community Banks: How can they find a path to change and compete in the new digital world?”

In this briefing, panelists will discuss the challenges and opportunities faced by community banks in America today, and where these key financial institutions should turn in terms of growing their customer bases, introducing new technologies, and competing with larger rivals in finance and even Big Tech.

Moderated by Jason Henricks, CEO, Alloy Labs, this panel will feature:

  • Pam Kaur, Head of Bank Technology, BankTech Ventures

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Mastercard Launches Stablecoin Acceptance and Payments Capabilities

Mastercard Launches Stablecoin Acceptance and Payments Capabilities
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, MasterCard
  • Mastercard is enabling global stablecoin payments, allowing consumers and merchants to use stablecoins like cash using Mastercard’s network of merchant locations.
  • The launch is powered by Mastercard Crypto Credential and Mastercard Move, ensuring secure, compliant blockchain transactions and seamless conversion between stablecoins and bank accounts.
  • The new stablecoin payments capabilities are made possible by partnerships with major crypto partners like MetaMask, Binance, and OKX.

Stablecoins are going mainstream, and Mastercard wants to lead the charge. The payments company announced this week that it is launching global stablecoin acceptance and payments capabilities in order to allow consumers and businesses to use stablecoins as easily as the money in their bank accounts.

The new capabilities will allow Mastercard to ensure that people can make and receive stablecoin payments at any time of day, in any geography. Key to this launch is Mastercard Crypto Credential, which ensures secure, compliant, and user-friendly blockchain transactions by verifying user identities and metadata.

“When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear,” said Mastercard Chief Product Officer Jorn Lambert. “To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them. We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve.”

The payments company is leveraging partnerships with MetaMask, Kraken, Gemini, Bybit, Crypto.com, Binance, Monavate, and Bleap to offer consumers many of the same benefits they enjoy when paying with their credit cards. For example, customers in the crypto ecosystem can earn rewards, pay, and spend the stablecoins in their crypto wallets using their traditional payment cards at the over 150 million merchant locations that accept Mastercard payments across the globe. Customers can also withdraw stablecoins into their bank accounts with Mastercard Move.   

Mastercard Move is the company’s comprehensive suite of money movement solutions designed to facilitate fast, secure, and flexible payments across channels. It enables individuals and businesses to send and receive funds globally through methods such as person-to-person transfers, business disbursements, and cross-border payments. Mastercard Move is particularly beneficial for crypto users as it allows them to seamlessly withdraw stablecoins into traditional bank accounts, bridging the gap between digital assets and traditional financial systems.

Mastercard is also partnering with crypto exchange platform OKX to launch the OKX Card, as well as with Nuvei, Circle, and Paxos to give merchants the option to receive their payments in stablecoins.

“OKX is pushing the boundaries of what’s possible in the world of digital assets,” said OKX Chief Marketing Officer Haider Rafique. “Our strategic partnership with Mastercard to launch the OKX Card reflects our commitment to making digital finance more accessible, practical, and relevant to everyday life. Together, we’re taking a significant step toward integrating stablecoins into daily transactions and creating richer experiences—while bringing new users on-chain through OKX’s leadership in crypto trading and our growing Web3 ecosystem.”

The stablecoin scene has been erupting this year. Not only have stablecoins been granted more regulatory clarity in the US, but they have also seen more mainstream institutional adoption, retail integration, and cross-chain interoperability, making them more easily transferrable across ecosystems. Additionally, they are used as a payments rail for smart contracts and tokenized assets, both of which have experienced recent growth.

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Implementing AI in Your Organization: Three Key Steps in Your Journey

Implementing AI in Your Organization: Three Key Steps in Your Journey
By Lili Nguyen Posted on
Categories: Sponsored

This article is sponsored by VASS Intelygenz.

Successfully integrating AI into core business services isn’t a straightforward approach—this requires strategic foresight into AI and how it best aligns with business, regulatory compliance, and operational efficiency.

Putting this into action and delivering AI solutions can drive real impact, especially for those in the financial industry. At VASS Intelygenz, we personalize services for our customers, automate their manual operations, and improve efficiencies. We work through the whole AI project lifecycle, conceptualizing, developing, deploying, and maintaining custom AI solutions that solve real business problems. All of which are reshaping how financial institutions operate by enhancing their client interactions and uncovering new market opportunities.

However, AI is not as simple as flipping a switch. According to a Gartner research, only 15% of AI solutions deployed by 2022 will be successful, let alone create ROI positive value. The path from implementation to achieving measurable ROI can feel complex and daunting. Identifying the right solutions, navigating the complexities of AI, and ensuring AI initiatives deliver measurable ROI have often led financial institutions to a standstill when it comes to their AI implementation.

With over two decades of expertise in machine learning and AI, we’ve helped financial institutions unlock the potential of AI to deliver real business value. Here, we outline three key lessons to keep in mind as you start your AI implementation process.

1. Align AI With Your Business and Change Management Strategy

The most successful AI initiatives start with a clear alignment to your business goals. Instead of jumping into technology innovations, identify the core challenges your organization is facing and determine how AI can address them. Are you looking to reduce operational costs? Improve customer retention? Prevent fraud? Only then should you consider which AI solutions will address these challenges.

Actively involve key stakeholders, including leadership and operational teams, during the implementation phase. This collaborative approach ensures that everyone understands the strategy, leading to smoother implementation and better ROI.

It’s integral that you invest in training and communication to help employees adopt AI tools with confidence, so they become champions of the technology rather than resistors.

2. Make Sure to Implement AI Safely

While the potential of AI-powered solutions in finance are vast, the risks are equally significant. Financial organizations deal with highly sensitive information and operate in tightly regulated environments. Implementing AI safely is non-negotiable.

The finance industry is a signifier of importance when it comes to balancing innovation and compliance. AI systems within finance that automate credit scoring or detect fraudulent activities must adhere to strict regulations and industry-specific requirements. Before adoption, ensure that your AI solutions meet ethical guidelines, operational standards, and legal compliance.

Another critical consideration is explainability. Stakeholders, from board members to customers, need clarity on how AI systems get to their conclusions. Choose solutions that incorporate transparency tools, such as explainable AI models, so you can maintain trust while also fulfilling regulatory requirements.

3. Have Confidence in Proof of Concepts (PoCs)

AI is advancing rapidly, and businesses that hesitate to move beyond pilot projects risk missing out on its full potential. To maximize ROI, you must scale your first steps into AI with a fully integrated, organization-wide solution.

While pilot projects allow you to test AI solutions on a small scale, their impact remains limited without transitioning to full-scale deployment. Leading organizations are fast-tracking this process, transforming successful PoCs into actionable, large-scale AI systems. This shift enables businesses to get ahead of their competition, enhance profitability, and reduce costs.

Implementing AI successfully into your financial organization involves more than just an interest in emerging technologies. It requires alignment with your unique business strategy, identifying your challenges as well as having ROI in the forefront of your mind.

At VASS Intelygenz, we bring over 20 years of experience to the table, with a proven process that streamlines AI adoption, from scoping opportunities to rapid experimentation, so you can unlock value quickly and deliver ROI faster. We’re committed to helping financial institutions unlock the true potential of AI.

Want to learn more about this topic? Join us at our presentation at FinovateSpring on May 7th at 2:45pm to explore real-life examples and strategies for implementing transformative AI. Find out more here.

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FinovateSpring 2025 Sneak Peek Series: Part 7

By Madeline Clines Posted on
Categories: Auditive, Bolder Money, Contour, FinovateSpring 2025, FinovateSpring 2025 Sneak Peek, Hyperdesk, Invesst, OnestPay, Stack AI

A look at the companies demoing at FinovateSpring in San Diego on May 7 – 9. Register today using this link and save 20%.

Auditive

Auditive allows financial institutions to onboard third parties or vendors 4x faster while monitoring risk confidently and continuously.

Features

  • Measures third-party risk
  • Monitors risk continuously
  • Showcases vendor risk posture
  • Processes RFPs faster

Who’s it for?

Financial institutions, banks, and credit unions.

Bolder Money

Bolder Money helps banks become leaders in the relationship banking revolution with an easy-to-implement, all-in-one platform that meets customer needs.

Features

  • Provides personalized, step by step financial guidance
  • Offers real-time insights on balances and spending
  • Delivers product recommendations in the moment of need

Who’s it for?

Community banks and credit unions.

Contour

Contour delivers remarkably human AI voice and chat assistants to handle complex customer inquiries 24/7, reducing support costs while improving customer satisfaction.

Features

  • Provides human-sounding voice interactions 24/7, eliminating IVR menus and hold times
  • Takes real actions to auto-resolve customer issues
  • Securely integrates with existing systems for easy deployment

Who’s it for?

Banks, credit unions, and consumer fintechs.

Hyperdesk

Hyperdesk is an AI sales agent and CRM that finds and qualifies local business leads for banks so that their teams can close more deals, faster.

Features

  • An AI sales agent that finds leads for users
  • A search engine that helps banks pull in more leads
  • An AI-first CRM purpose-built for banks

Who’s it for?

Banks and credit unions that offer business lending.

Invesst

Invesst compresses hours of research into minutes, automating analysis, valuation, memo creation and more for investors, analysts, and advisors desiring speed, precision, and freedom from terminals.

Features

  • Unifies brokerages, APIs, and market data into one compliant AI platform
  • Automates up to 70% of investment research workflows

Who’s it for?

Investors, analysts, financial advisors, research teams, RIAs, asset managers, hedge funds, fintech platforms, and firms.

OnestPay

OnestPay™ is a next-gen payment system replacing gift cards with flexible merchant credits—buy at a discount, earn bonuses, and use, gift, trade or pool credits online or in-store.

Features

  • Customers save with discounts and flexible use of credits
  • Merchants boost revenue, cut fees, and control loyalty
  • Both gain a smarter, more rewarding payment experience

Who’s it for?

SMBs, retail chains, banks, fintechs, consumers, nonprofits, and loyalty providers.

Stack AI

Stack AI is an enterprise platform allowing organizations to build and deploy autonomous AI agents for customer support, data analysis, workflow automation, and other tasks.

Features

  • Build AI agents quickly with no-code tools
  • Automate workflows across departments
  • Secure deployment with enterprise-grade compliance

Who’s it for?

Any enterprise looking to automate workflows.

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Trust & Will Raised $4.5 Million from Credit Union Collective Curql

Trust & Will Raised $4.5 Million from Credit Union Collective Curql
By David Penn Posted on
Categories: Credit Unions, Funding, Trust & Will
  • Digital estate planning company Trust & Will raised $4.5 in funding from credit union collective Curql.
  • The investment takes the company’s Series C round total to $32 million.
  • San Diego, California-based Trust & Will won Best of Show in its Finovate debut at FinovateFall 2023 in New York.

Digital estate planning innovator Trust & Will secured an investment of $4.5 million from collaborative credit union ecosystem, Curql. The funding adds to the company’s Series C funding round, announced last month, bringing the total raised to $32 million.

“This partnership with Curql is incredibly meaningful, not just strategically, but personally,” Trust & Will CEO and Founder Cody Barbo said. “Curql represents a network of mission-driven credit unions committed to innovation, member service, and values that deeply align with ours. From our first credit union partnership in 2018 to today, we’ve seen the power of integrating estate planning into holistic financial wellness. This investment validates the work we’ve done and accelerates our ability to scale solutions that directly benefit millions of credit union members.”

Trust & Will will use the capital to expand estate planning access. Since inception in 2017, Trust & Will has helped more than one million Americans begin legacy planning. The San Diego, California-based company offers secure, attorney-approved online solutions to empower users to build wills, trusts, healthcare directives, and other critical estate planning documents—all in compliance with state-specific regulations. Trust & Will’s platform supports more than 17,000 financial advisors, as well as 150+ enterprise partners and financial institutions.

The company will also leverage the funds to launch a credit union service organization or CUSO that is designed to serve credit union members nationwide. Trust & Will has been a friend to the credit union industry from the beginning, announcing its first credit union partnership in 2018. Today, the company counts more than 200 credit unions among its partners.

“Forming a CUSO is a natural next step,” Barbo explained. “Over the past several years, we’ve built trust and traction with more than 200 credit union partners. Establishing a CUSO allows us to deepen those relationships, tailor our offerings, and collaborate in a structure credit unions are familiar and comfortable with. This isn’t just about scalability, it’s about alignment. A CUSO enables shared investment, shared values, and shared outcomes.”

Curql is a collaborative ecosystem consisting of more than 130 credit unions who jointly invest in fintechs with a goal of bringing innovative new technologies and solutions to credit union members. Launched in 2020, Curql includes former founders, operators, and leaders from both the fintech and investment worlds. The collective’s flagship—Curql Fund I—invests in firms that develop financial services technology that “revolutionizes and innovates” the way people deal with their finances.

Nick Evens, President and CEO of Curql, underscored Trust & Will’s innovation, calling the firm “the rare fintech that’s both mission-aligned and market proven.” He added:

“Estate planning is one of the most overlooked components of financial wellness, yet it touches everyone. What impressed us was not just their growth or technology, but their understanding of the credit union ethos. They’re not just selling a service; they’re providing peace of mind, generational planning, and value that strengthens the member relationship. That’s the kind of value that makes a difference.”

Trust & Will’s funding announcement and CUSO launch come at a pivotal time for credit unions. These membership-based financial institutions continue to grow—topping 143 million total members as of the end of 2024—but from technological change to policy uncertainty, credit unions are facing new challenges to attract new members and better engage current members.

“Credit unions are navigating a lot: rapid digital transformation, increasing member expectations, and pressure to stay competitive while remaining values-driven,” Evens said. “At Curql, our role is to be the bridge; to identify, invest in, and help scale fintech solutions that address those challenges. Whether it’s digital estate planning, cybersecurity, or fraud prevention, our job is to help credit unions deliver the tools their members want today and tomorrow, without compromising who they are—doing it with the speed and relevance of today’s market demands.”

For more from Evens on the state of credit unions today, check out his recent podcast interview with Finovate VP and podcast host, Greg Palmer.

Trust & Will won Best of Show in its Finovate debut at FinovateFall 2023 in New York. At the conference, the company showed how its platform provides easy-to-use solutions to help individuals create their estate plans, as well as access affordable, online probate services. More recently, Trust & Will introduced Delegate Access for Trust & Will Advisors. This enhancement will enable advisors to grant trusted assistants the ability to manage tasks on the advisor’s behalf. Delegate Access promotes seamless collaboration, improves client communications, and helps advisors save time. Also this month, Trust & Will announced that they have been selected to join Moderne Ventures’ 2025 Passport Class. A strategic venture capital and growth equity firm, Moderne Ventures offers a six-month industry immersion program—the Moderne Passport Program—that provides “education, exposure, insight, and relationships to drive customer growth.” Trust & Will was one of six companies selected for this year’s cohort.

“2025 is a big year for us,” Barbo said. “With this new capital, we’re focused on expanding our enterprise offering, continuing to grow our partner network, and investing in the tools that make estate planning even more intuitive and accessible for consumers and advisors alike. Expect to see deeper integrations with financial institutions, more personalization for users, and continued leadership in bringing trust, transparency, and simplicity to an area of finance that has long been overlooked.”

Photo by Andrea Piacquadio

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Pinwheel Integrates with Q2’s Digital Banking Platform

Pinwheel Integrates with Q2’s Digital Banking Platform
By David Penn Posted on
Categories: Alumni News, Q2
  • Account activation company Pinwheel announced an integration with Q2’s Digital Banking Platform.
  • The integration will make it easier for Q2 customers to facilitate direct deposit switching as part of the account onboarding process.
  • Q2 won Best of Show at Finovate’s all-digital FinovateSpring event in 2021.

Frictionless account activation and engagement product provider Pinwheel announced an integration with Q2‘s Digital Banking Platform. The integration comes courtesy of Pinwheel’s participation in Q2’s Partner Acceleration Program, and will enable financial institutions to access income and employment data from Pinwheel’s data network of payroll providers. This coverage includes 1,800 platforms, representing up to 100% of US workers paid through direct deposit. The integration will empower banks and credit unions to offer their customers and members instant direct deposit switching as part of the account onboarding process.

“Removing friction from the deposit switching process is critical for financial institutions to boost activation rates and secure primacy,” Pinwheel Head of Revenue Brian Karimi-Pashaki said. “We’re thrilled to help Q2 customers take advantage of Pinwheel Deposit Switch by making it available through Q2’s Partner Acceleration Program. We are committed to helping credit unions and banks offer the best possible customer experience.”

In a statement, the companies highlighted research that indicated that 40% of newly opened accounts are never activated. One reason for this, according to the study by veteran banking analyst Jim Marous, was friction in the direct deposit switching process. By contrast, integrating Pinwheel’s technology with the Q2 Digital Banking Platform will give all Q2 customers the ability to embed one-click deposit switching.

Pinwheel began the year teaming up with digital banking provider Narmi to help Berkshire Bank launch its new service that enables customers reroute their direct deposits to their Berkshire accounts. Last month, Pinwheel partnered with human capital management software solutions provider Paychex to expand its PreMatch coverage to 45 million Americans.

Founded in 2004 and headquartered in Austin, Texas, Q2 made its Finovate debut in 2011, won Best of Show at our all-digital conference in 2020, and most recently demoed their technology on the Finovate stage at our all-digital FinovateSpring event in 2021. The company provides digital transformation solutions for banks, credit unions, fintechs, and other financial services companies in the US as well as around the world.

Earlier this month, Q2 announced that Signature Bank had selected the company as its new digital banking partner. Founded in 2006 and headquartered in Illinois, the bank went live with Q2’s Digital Banking Platform as part of its overall digital banking transformation. In March, United Federal Credit Union reported that it had tripled member engagement within 12 months of deploying Q2 Composable Dashboard. Part of Q2 Engage, the company’s suite of consumer banking solutions, Q2 Composable Dashboard gives financial institutions curated dashboards and the ability to build personalized experiences.

Q2 is publicly traded on the New York Stock Exchange under the ticker QTWO. The company has a market capitalization of $4.9 billion. Matthew Flake is CEO.

Photo by Nick Fewings on Unsplash

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People Get Ready: FinovateSpring 2025 Comes to San Diego Next Week

People Get Ready: FinovateSpring 2025 Comes to San Diego Next Week
By David Penn Posted on
Categories: FinovateSpring 2025

FinovateSpring 2025 launches next week, May 7 through 9, at the Sheraton San Diego Hotel and Marina in San Diego, California. The event will be Finovate’s first conference in Southern California and we can’t wait to share what we have in store.

Registration is still open. If you have not picked up your ticket yet, then be sure to stop by our FinovateSpring 2025 registration hub and save your spot.

There’s so much going on in fintech right now, from the rise of AI-powered banking solutions to the challenge of managing a dramatically shifting regulatory environment. Here are some last-minute details to help you make the most of your visit to this year’s FinovateSpring.

Get Connected

Our ConnectMe app is a great way to track the conference agenda, set up your schedule, and network with your fellow attendees. Download the ConnectMe app and build your profile today.

What, Where and When

Each day of FinovateSpring begins at 8am with registration, breakfast, and networking. A light breakfast will be served in the exhibition hall, and sponsor booths will be open for networking.

The general sessions for all three days begin at 9am with remarks from Finovate Vice President Greg Palmer.

Demos will be presented on Wednesday, May 7 (Day One) and Thursday, May 8 (Day Two) of FinovateSpring. The Best of Show winners will be announced at 5pm on Day Two.

Special highlights

FinovateSpring will hold its special, invitation-only, Leaders+ event on Tuesday, May 6th. This session, curated for senior executives from banks, credit unions, insurers, and asset management offices, will feature keynotes, fireside chats, special addresses, and a networking opportunity at the end of the evening. To learn more about the program, including eligibility requirements and opportunities to apply, contact our event VIP Relationship Manager at [email protected].

Interested in learning more about deploying AI in financial services? FinovateSpring is hosting an exclusive, closed door AI Business Briefing for banks and financial institutions Wednesday afternoon, May 7th. Featuring experts from VASS Intelygenz, VASS FSI, Banco Popular, and McKinsey & Company, this session will discuss how banks and fintechs are leveraging AI-powered solutions to unlock new revenue streams and cut costs. Contact [email protected] for eligibility and invitation information.

Also on Wednesday afternoon, FinovateSpring will feature its Credit Union Spotlight. This special event is a unique opportunity for our credit union attendees to meet with fintechs who are building solutions specifically designed for credit unions and their members. Credit union attendees will also have an opportunity to meet, learn, and network with each other at the end of the session.

Interested? Reach out to [email protected] for details on eligibility.

Last-minute reminders

Bring your badge / Wear your badge. Make sure you’ve got your badge on when at the conference. It’s your key to entry and the easiest way to be recognized by your fellow attendees!

Business casual to business formal is the dress code for the event. Save the shorts, sandals, and sunglasses for poolside.

We look forward to seeing you next week in San Diego for FinovateSpring! Travel safe—and don’t forget your sunscreen!

Questions? Reach out to us at [email protected].

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Thunes Raises $150 Million for US Expansion

Thunes Raises $150 Million for US Expansion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding, TransferTo
  • Thunes raised $150 million in Series D funding from Apis Partners and Vitruvian Partners.
  • The funds more than double its previous 2023 round.
  • Thunes plans to use the funding to fuel US growth, drive AI innovation, and expand interoperability with the digital asset ecosystem, positioning itself against competitors like Wise and Airwallex.

Cross-border payments company Thunes has raised $150 million in Series D funding. The investment comes from private equity firms Apis Partners and Vitruvian Partners.

The new funding is not only Thunes’ largest round to date, but it is also more than double the $72 million the company landed in 2023. The company will use today’s funds to fuel its US expansion. Thunes has obtained licenses in all 50 US states, subject to regulatory approval. Establishing a strong footprint in the US will open up new opportunities to serve fintechs, e-commerce platforms, and financial institutions seeking faster global transaction capabilities.

“Thunes’ latest funding round is a clear validation of our strategy and our commitment to sustainable growth,” said Thunes CEO Floris de Kort. “Our performance, marked by a revenue run-rate of $150 million and positive EBITDA, demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market. This new capital enables us to extend our Direct Global Network, including in the United States, drive technological innovation, from Artificial Intelligence to digital asset ecosystem interoperability, and deliver superior value to the Members of our proprietary Network. In a challenging funding environment, our progress and resilience set a new industry standard.”

Thunes was founded in 2016 as TransferTo and rebranded to Thunes in 2019. The company offers a cross-border payments and collection network that supports 80 currencies, enables payments to 130 countries, and offers 320+ payment acceptance methods. Unlike traditional cross-border payments providers that often rely on correspondent banking networks, Thunes offers a direct, proprietary global network. This delivers faster, cheaper, and more transparent transactions and allows it to compete against players like Wise and Airwallex.

Among the company’s use cases are cross-border payments, business payments, virtual payments, and virtual account issuance. Headquartered in Singapore, Thunes also has offices in London, Paris, Shanghai, New York, Dubai, Nairobi, Arizona, and Barcelona.

The fundraise comes at a tough time in the venture capital climate, where funding rounds, especially of this size, have become increasingly rare. Thunes’ ability to secure $150 million highlights a warming investor climate, as well as increased interest in cross-border payment infrastructure.

“Thunes has revolutionized global cross-border payments by seamlessly integrating robust technology with a disciplined financial strategy that inspires confidence,” said Apis Partners Managing Partner & Co-Founder Matteo Stefanel. “The company’s impressive growth record and positive EBITDA performance, even in these unprecedented times, clearly underpin the trust of its Members and their ability to scale effectively. We have been closely monitoring Thunes’ remarkable journey and are consistently impressed by the team’s innovative approach, operational rigor, and strategic foresight. Thunes’ pursuit of excellence redefines industry standards and sets a high bar for reliability and performance in global payments. Lastly, we are especially proud of the work Thunes is doing in accelerating access to affordable financial services across the next billion users in emerging markets, and for Apis to play a small part in continuing this journey.”

Photo by Pixabay

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