Finovate Global Canada: Wealthsimple’s $10 Billion Valuation and a Look at Investment Trends

Finovate Global Canada: Wealthsimple’s $10 Billion Valuation and a Look at Investment Trends
By David Penn Posted on
Categories: Coinbase, Finovate Global, Nubank, Salt Edge, Tink

This week’s edition of Finovate Global features recent fintech news from Canada.

Wealthsimple secures $750 million at valuation of $10 billion

Canadian fintech Wealthsimple has raised CAD $750 million at a post-money valuation of CAD $10 billion. The funding round includes both a CAD $550 million primary offering and a secondary offering of up to CAD $200 million. Dragoneer Investment Group and GIC led the round, which also featured participation from new investor Canada Pension Plan Investment Board (CPP Investments) as well as existing investors Power Corporation of Canada, IGM Financial Inc. ICONIQ, Greylock, and Meritech.

“This raise reflects deep confidence from new and returning investors in our mission and our role as a defining Canadian company,” Wealthsimple Co-Founder and CEO Michael Katchen said. “We were intentional in choosing partners committed to the long-term future of Wealthsimple. These are well-respected, global leaders with a proven track record (of) scaling category leaders, and who believe in our vision for the future of financial services.”

Founded in 2014 and headquartered in Toronto, Ontario, Wealthsimple offers a suite of low-cost financial solutions to help Canadians build wealth. The company’s platform features self-directed investing, managed portfolios, digital asset investing, tax filing, advisor services, and more in a single, integrated experience. Wealthsimple serves three million Canadians and has $100 billion in assets under administration.

“Few companies have achieved what Wealthsimple has in the last few years,” Dragoneer Investment Group Partner Christian Jensen said. “The Wealthsimple team has built an expansive financial platform that millions of Canadians trust. They’re not just participating in Canada’s financial services industry; they’re redefining it.”

Earlier this year, Wealthsimple unveiled a waitlist for its first credit card, which topped 300,000 Canadians in the first six months. The company’s fundraising news follows a profitable 2024 and current profitability in 2025, as well. The capital infusion will help Wealthsimple accelerate its product roadmap in investing, spending, and credit, as well as support the company’s efforts to expand its platform.

Fintech investment slows in H1 ahead of potential rebound in H2

Speaking of investment and Canadian fintech, KPMG’s Canada Fintech Investment Report is a great way to get up to speed on the investment trends that are supporting fintech innovation in Canada. The report was published in August, and focuses on investment trends from the first half of 2025.

While the report indicates that Canadian fintech investment fell significantly compared to international trends, the report authors suggest that the first half of 2025 represented a normalization in the wake of record high levels of investment in 2024. Areas of investor interest include AI, especially agentic AI, and digital assets, which represent a continuation of trends from 2024. A more positive regulatory tone toward cryptocurrencies—especially stablecoins—in the US has been credited for this rebound in interest in digital assets. The report also noted some interest in quantum computing among insurers.

“Last year was exceptionally strong for fintech investment, thanks to two major take-private deals,” Dubie Cunningham, a Partner in KPMG in Canada’s Banking and Capital Markets Practice, explained. “Since then, investment activity has dropped to more stable levels. In fact, when you consider the economic shifts such as tariffs affecting global trade, investment in the first half was quite robust compared to historical levels. There’s still a lot of dry powder ready to be deployed by investors, but they are demonstrating more selective behavior than in previous years. They’re looking for quality companies and we’re seeing longer tails for maturing mid-to-large stage private equity deals.”

Read the full report.

Coming to Canada: Atlanta’s Rainforest and Lebanon’s Whish Money

This week reminds us of how attractive Canada is to a growing number of fintechs around the world. Rainforest, a embedded payments company based in Atlanta, Georgia, announced recently that it is looking to expand to Canada. The company, founded in 2022, secured $29 million in funding in September, taking its total capital raised to $57.5 million. The idea of expanding to Canada, as Rainforest Founder and CEO Joshua Silver explained to Global Atlanta, represents more than a regional expansion for the company itself. The move would also help Rainforest’s platform client expand their offerings in a new market.

Rainforest specializes in payments partnerships with software providers that target businesses in underserved industry sectors. These software providers themselves are an underserved segment of the industry—processing $50 million to $2 billion in annual payments. Rainforest offers an embedded payments solution that enables software platforms to provide a robust payments experience for their end merchants without having to register as a payment facilitator with card networks.

Hailing from even farther away than the Peach State where Rainforest resides is Whish Money. Headquartered in Beirut, Lebanon, and regulated by the country’s central bank, Whish Money announced this week that it had secured financial services licenses in Canada. The regulatory approvals are the first for the company outside of the MENA region, and is part of a global expansion that includes entering markets in the US, the UK, the EU, and Australia.

“Securing our Canadian license is a monumental step that validates our compliant, customer-focused model and sets the foundation for our international expansion,” Whish Money board chairman Toufic Koussa said. “This move is about more than just entering a new market; it’s about strategically connecting high-diaspora communities with reliable financial infrastructure, beginning with North America. We are committed to building a regulated, transparent global ecosystem that truly serves our users.”

Whish Money offers a range of digital financial services including payroll, fund transfers, and billpay. Founded in 2019, the company’s e-wallet, money remittance, and e-distribution platform has a user base of more than 1.5 million. The company’s global expansion is being supported by partnerships with companies such as Visa, Mastercard, Ria, and Terrapay.

Here is our look at fintech innovation around the world.

Central and Southern Asia

  • Pakistan-based fintech startup ZAR raised $13 million for its technology that enables consumer to convert cash into stablecoins.
  • Indian fintech infrastructure company Falcon announced a partnership with technology consulting firm Tech Mahindra.
  • Alipay+ and HUMO, Uzebekistan’s national payment system, teamed up to facilitate cross-border payments.

Latin America and the Caribbean

  • Blockchain infrastructure and cryptocurrency provider Binance unveiled QR code payments in Argentina
  • Kueski and dLocal team up to bring Buy Now Pay Later (BNPL) services to merchants in Mexico.
  • Nubank and OpenAI partnered to launch ChatGPR Go in Brazil to give individuals greater access to ChatGPT’s advanced capabilties at a lower cost.

Asia-Pacific

  • Remittance provider Viamericas partnered with Dong Phuong Money Transfer to expand access to remittance services throughout Vietnam.
  • Japanese fintech JPYC launched the country’s first yen-denominated stablecoin.
  • Malaysian fintech Instapay earned a spot on CB Insights’ Global Fintech 100.

Sub-Saharan Africa

  • South African fintech SME Snapshot launched updated version of its business management dashboard.
  • Nigeria’s Flutterwave partnered with Polygon to launch a stablecoin payment network across 34 African countries.
  • Kenya’s Choice Bank teamed up with Safaricom to power cross-border money transfers.

Central and Eastern Europe

  • Coinbase and Tink teamed up to bring Pay by Bank crypto payments to customers in Germany.
  • Lithuanian regtech IDenfy partnered with Australian remittance service provider J Forex Money Transfer.
  • Finlayer and Salt Edge annnounced a partnership to bring open banking to small and medium-sized businesses in Romania.

Middle East and Northern Africa

  • Saudi Arabian Buy Now Pay Later firm Tabby boosted its valuation to more than $4.5 billion in the wake of a secondary share sale.
  • Israel-based Viola Credit closed its third credit fund at $2 billion, topping its original target of $1.5 billion.
  • Lebanon-based fintech Whish Money secured financial services licenses in Canada.

Photo by Harrison Haines

Share this:

Send Post Twitter LinkedIn Facebook

Breaking Through the Verification Barrier: How Middesk Simplifies Risk & Identity

Breaking Through the Verification Barrier: How Middesk Simplifies Risk & Identity
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2025, Middesk, Speaker series

Digital businesses in the modern era span geography, product types, and regulatory regimes, making the process of verifying identities and assessing risk difficult. Today, we’re highlighting a conversation that digs into how platforms can assess risk at scale by embedding identity and risk intelligence into a single workflow.

At FinovateFall earlier this year, I spoke with Kate Young, Marketing Manager at Middesk, a company specializing in identity verification and onboarding automation. During our conversation, Kate discussed identity and onboarding challenges, how platforms distinguish legitimate enterprises from fraudulent ones, and the importance of embedding risk intelligence and KYB tools into the onboarding and lending processes. The interview touches on real-world use cases, ROI metrics, and what it takes to move from spreadsheets to APIs.

“There’s still this… trust gap between all of the businesses and the changes that they make both legitimately and illegitimately and the understanding of those financial institutions of those businesses. So there’s a wide gap between that business identity data and financial institutions being able to trust it…. We can actually bring that [gap] much closer and financial institutions can get much closer to trusting those businesses and saying yes to them more confidently and honestly growing their portfolio with those businesses once they truly trust who they are.”

Founded in 2018, Middesk’s identity and business verification platform provides APIs for verifying B2B customers, reducing fraud risk, and automating underwriting. With features such as entity resolution, beneficial-owner monitoring, and embedded data flows, Middesk enables platforms to streamline onboarding, reduce fraud, and scale reliably by offering up-to-date, verified data about their business users and clients.

Photo by Lisa from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

Walmart’s OnePay Selects DriveWealth to Power Embedded Investing

Walmart’s OnePay Selects DriveWealth to Power Embedded Investing
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, DriveWealth
  • Walmart’s OnePay digital banking platform is partnering with DriveWealth to launch OnePay Invest, giving users access to stock and ETF trading within their existing app.
  • Since acquiring fintechs Even and ONE, Walmart has built OnePay into a full-service app offering savings, credit-building, BNPL, and now investing.
  • Integrating DriveWealth’s brokerage-as-a-service APIs, OnePay lowers the barrier to entry for first-time investors and strengthens Walmart’s bid to become a one-stop financial hub for everyday consumers.

Digital trading and brokerage company DriveWealth scored a partnership this week with Walmart’s digital banking platform OnePay, which will leverage DriveWealth’s brokerage-as-a-service offering to launch OnePay Invest.

Walmart launched OnePay in January 2021 through a partnership with Ribbit Capital. In January 2022, Walmart expanded OnePay’s capabilities by acquiring two fintech platforms, Even and ONE, which helped Walmart create a more comprehensive financial services app. Since then, Walmart has been actively building up OnePay to compete with top fintech startups by adding features such as a high-yield savings account, credit-building tools, and BNPL capabilities.

DriveWealth will give OnePay users a new way to invest in stocks and ETFs. OnePay Invest will offer users access to trading tools within the same mobile app they already use to save, spend, and borrow.

“OnePay puts everyday money decisions in one place. By embedding DriveWealth’s investing technology directly into that experience, we are giving millions of Americans simple, reliable access to invest where they already save and spend,” said DriveWealth CEO Naureen Hassan. “This partnership moves our shared mission forward: make investing available to anyone, anywhere.”

Many OnePay customers may be new to investing, and embedding DriveWealth’s tools directly into the OnePay app lowers the barrier to entry. By enabling users to explore stock and ETF investing within the same platform they already use to manage savings, spending, and borrowing, OnePay creates a simple on-ramp to wealth building.

The move also helps OnePay differentiate itself from competitors such as Chime and Dave, which both cater to similar underbanked populations but have yet to integrate investing capabilities. In combining everyday money management with access to the markets, OnePay is positioning itself as an all-in-one financial hub for the mass-market consumer.

Today’s partnership isn’t Walmart’s first attempt this month to bolster the capabilities of OnePay. On October 3, the company announced plans to offer crypto trading and custody in its mobile app, allowing users to buy, hold, and trade Bitcoin and Ether. 

DriveWealth was founded in 2012 to allow third parties to enable access to US equities, fixed income, and other asset classes through scalable, compliant solutions via its suite of APIs. Earlier this year, the New York-based company teamed up with Moment Technology to make fixed-income investing more accessible to a broader range of investors.

Share this:

Send Post Twitter LinkedIn Facebook

Devexperts Unveils New AI-Powered Data Analysis Tool Acomotrade

Devexperts Unveils New AI-Powered Data Analysis Tool Acomotrade
By David Penn Posted on
Categories: Alumni News, Devexperts
  • Capital markets software developer Devexperts launched its latest AI-powered data analysis solution, Acomotrade, this week.
  • The new offering is designed to help online trading platforms better engage new users, most of whom rarely become the kind of active traders these platforms rely on.
  • Headquartered in Dublin, Ireland, and founded in 2002, Devexperts demonstrated its technology at our developers conference, FinDEVr Silicon Valley 2016.

For all the excitement experienced when markets are soaring toward new highs, life for brokerage companies can actually be more complicated. While trading volumes are climbing, the fact of the matter is that many of the new traders and investors who decide to start participating in the market often don’t end up sticking around very long at all. The average new user lifetime on a trading platform is less than six months—to say nothing of those traders who abandon the platform shortly after registering, never even placing their first trade. New traders rarely become the kind of active traders that online trading platforms crave, which complicates the acquisition cost equation and makes it hard for platforms to recoup their investment in new users.

The new offering from capital markets software developer Devexperts, Acomotrade, is designed to help online trading platforms better manage these challenges. An AI-powered data analysis solution, Acomotrade leverages insights into user behavior to help brokers improve the return on acquisition via better engagement and lower early user churn.

Acomotrade features personal instrument recommendations, analyzing trader activity and behavioral patterns to suggest tools like watchlists that match the individual trader’s habits and preferences. The solution also includes disengagement detection, leveraging large-scale behavioral data to detect signs of user disengagement. At this point, brokers can intervene with personalized communications or incentives before the user leaves the platform entirely.

Acomotrade also relies on user representation to group traders together based on characteristics such as risk appetite, trading style, and engagement duration. This helps brokers personalize their engagement with different user groups. All of these features are designed to help platforms better understand, communicate with, and support their newest users when they are most vulnerable to becoming disenchanted with the online trading experience.

“Acomotrade gives brokers a practical way to strengthen user engagement and retention, directly improving profitability without additional acquisition spend,” Devexperts Data Science Team Lead Ivan Kunyankin said. “It will initially be offered as an opt-in feature within the DXtrade platform and we look forward to seeing our clients benefit from the advanced insights and functionalities Acomotrade has to offer, as well as working with our clients to develop these further over time.”

Dublin, Ireland-based Devexperts participated in our developers conference, FinDEVr Silicon Valley 2016. The company specializes in providing trading platforms and brokerage automation, complex software development products, and market data products. The company also provides consulting services for financial institutions, particularly in the areas of real-time transaction monitoring, trading automation, and risk management. Devexperts’ DXtrade platform is a multi-asset, broker-agnostic trading platform for brokers and prop firms that offer trading in stocks, derivatives, FX, CFDs, spread bets, and blockchain-based currencies. More than 20 million users rely on Devexperts’ technology every day. Nikolaj Mosejev is CEO.

Photo by Sophie Popplewell on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Podcast Interviews the Six FinovateFall Best of Show Winners

Finovate Podcast Interviews the Six FinovateFall Best of Show Winners
By David Penn Posted on
Categories: Best of Show, List series, Podcasting

This week we’re sharing six interviews from the Finovate Podcast featuring the companies that won Best of Show at FinovateFall last month.

From the latest innovations in the fight against fraud to leveraging AI to make it easier for small businesses to secure the financing they need to grow, FinovateFall 2025’s Best of Show winners help us see exactly where fintech is making the most impact for companies and communities.

In his most recent podcast interview, Greg Palmer talks with LemonadeLXP CEO John Findlay.

Findlay explains how the company evolved into a comprehensive all-in-one learning and knowledge platform for financial institutions. Findlay and Palmer discuss the shortcomings of traditional learning management systems that focus on compliance training rather than skill development that leads to business growth and more effective customer service.

EP 277: John Findlay, LemonadeLXP

Finovate Podcast host Greg Palmer catches up with Shivangi Khanna (CEO) and Sophie Jewsbury (COO) of Krida.

The three talk about how Krida leverages AI and workflow automation to transform the commercial lending process. Khanna and Jewsbury discuss the universal pain point of document collection and processing and explain how Krida’s technology automates the feedback loops between borrowers and loan officers to shorten the time between lead generation and a completed loan application.

EP 276: Shivangi Khanna and Sophie Jewsbury, Krida

Greg Palmer interviews Mart Vos, CEO of Eko Investments.

Palmer and Vos discuss how Eko makes it possible for early-stage investors to get started building their wealth through the credit union or bank they already know and trust. Vos explains how enabling financial institutions—especially smaller ones—to offer investment services can help them compete with third-party investing apps, many of which are embarking upon offering banking services of their own.

EP 275: Mart Vos, Eko Investments

Mitch Rutledge, CEO of Vertice AI, joins Greg Palmer on the Finovate Podcast.

In this conversation, Palmer and Rutledge talk about how Vertice AI enables smaller financial institutions to “punch above their weight” with AI-powered solutions that help them transform institutional data into actionable insights. Vertice AI helps community FIs deliver personalized customer engagement and measurable growth outcomes.

EP 274: Mitch Rutledge, Vertice AI

Greg Palmer chats with Tim Li, Co-founder and CEO of LendAPI.

Li explains how LendAPI serves as a “super orchestration platform” that enables users to build their own financial products via an intuitive browser interface. The platform includes a product studio in which FIs can build personal loans, mortgages, and other products with integrated rule studios, models studios, pricing engines, and third-party plugins.

EP 273: Tim Li, LendAPI

Finovate Podcast host Greg Palmer interviews Casap Co-founder and CEO Shanthi Shanmugam.

Palmer and Shanmugam talk about the challenges of first-party fraud and how this form of fraud—in which customers falsely claim they did not make purchases they actually did make—has become the leading fraud attack vector around the world, even more than account takeovers and scams. Shanmugam explains how Casap leverages AI agents that function like expert investigators to determine when disputes are legitimate.

EP 272: Shanthi Shanmugam, Casap

Photo by Will Francis on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Morgan Stanley Acquires Private Company Trading Platform EquityZen

Morgan Stanley Acquires Private Company Trading Platform EquityZen
By David Penn Posted on
Categories: Alumni News, EquityZen, Mergers & Acquisitions
  • Morgan Stanley has agreed to acquire private company trading platform EquityZen. Terms of the transaction were not immediately available.
  • The acquisition will help Morgan Stanley offer a full suite of solutions for its private company and wealth management clients, including cap table solutions, tender and liquidity programs, direct and co-investment opportunities, and secondary trading.
  • EquityZen made its Finovate debut at FinovateSpring 2016. The company is headquartered in New York.

One of the biggest challenges in the world of private company investing is dealing with the liquidity gap that can arise between private companies and their stakeholders when stakeholders seek access to cash before companies are ready to officially exit via public offering or acquisition. As more and more companies stay private longer, an opportunity has developed for innovators that can not only democratize access to private market investments, but can also serve the interests of employees seeking liquidity, companies requiring control over secondary transactions, and investors wanting access to high-growth private startups.

Tackling this challenge is EquityZen, a New York-based fintech founded in 2013 that made its Finovate debut at FinovateSpring 2016 in San Francisco. This week, we learned Morgan Stanley has announced its acquisition of the company, which offers a proprietary platform that facilitates secondary transactions in private firms, and works directly with shareholders and issuers to provide a seamless experience for buyers, sellers, and companies alike.

“This announcement comes at a critical time in the development of the private markets ecosystem,” Jed Finn, Head of Morgan Stanley Wealth Management, said. “The combination of EquityZen with Morgan Stanley will uniquely address client needs as companies stay private much longer, such as delivering liquidity solutions for their employees and early investors in a seamless yet controlled process of their own design. With EquityZen, we combine our cap table management solutions with a private shares marketplace to deliver end-to-end solutions to our private market company clients.”

EquityZen enables accredited investors to explore investment offerings on its platform, review offering documents, and conduct research before reserving investments in live offerings, or indicating their interest in upcoming offerings. Investors can execute documents and provide payment information in order to complete the investment via ACH or wire, and actively manage their investments and receive personalized updates on their companies in their portfolio. Investors receive investment proceeds in the form of cash or shares if the company exits successfully or simply if the investor requires liquidity.

The acquisition follows news of Morgan Stanley’s expanded partnership with private capital software platform Carta. Morgan Stanley noted that its acquisition of EquityZen will enhance its private markets ecosystem, and enable the firm to offer a range of services to private companies and their shareholders including cap table solutions, tender and liquidity programs, direct and co-investment opportunities, and secondary trading. Morgan Stanley will benefit from EquityZen’s issuer-aligned model, which will help it enhance its relationship with private companies and offer its wealth management customers greater access to private shares.

“Our entire mission has been to bring ‘private markets to the public’ and by integrating into Morgan Stanley, we will reach more investors and shareholders than ever before,” EquityZen CEO Atish Davda said. “When our category-leading technology and welcoming marketplace are matched with Morgan Stanley’s comprehensive suite of products, services, and offerings focused on the private markets, we can create a value proposition together for issuers, shareholders, and investors that is unrivaled in our space.”

EquityZen has 800,000 registered users. To date, the company has processed more than 49,000 transactions across 450+ private companies.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

Barclays to Acquire Lending Company Best Egg

Barclays to Acquire Lending Company Best Egg
By Julie Muhn (@julieschicktanz) Posted on
Categories: Barclays, Daily news, Mergers & Acquisitions
  • Barclays’ US consumer banking subsidiary, Barclays Bank Delaware, is acquiring Best Egg for $800 million.
  • Barclays aims to use the purchase to diversify its US consumer business and strengthen its presence in unsecured lending.
  • The transaction is expected to close in the second quarter of 2026.

Barclays‘ US consumer banking subsidiary, Barclays Bank Delaware, unveiled plans this week to expand its US footprint, acquiring personal loan origination company Best Egg. The transaction is expected to close in the second quarter of 2026 for $800 million.

Best Egg offers a direct-to-consumer personal loan origination platform that specializes in lending to prime borrowers. Since it was founded in 2013, the Delaware-based company has facilitated over $40 billion in personal loans to more than two million customers. By the end of this year, Best Egg will have facilitated more than $7 billion in personal loan originations.

Best Egg currently services approximately $11 billion in personal loans which are funded through structures such as securitization programs and forward flow arrangements provided by a range of alternative asset managers. The company generates fee-based income from its loan origination and servicing activities.

Best Egg CEO Paul Ricci said the acquisition marks a major milestone in the company’s mission to help consumers achieve financial confidence through modern lending products. “At Best Egg, we are driven by a mission to empower people with financial confidence and flexibility through our suite of lending products and financial health tools,” said Ricci. “Joining forces with Barclays marks a pivotal moment in our journey—one that amplifies our ability to reach even more people through innovative lending solutions that truly make a difference. This transaction is a testament to the strength of the incredible business we’ve built over the past 12 years, our talented team, and the trust we’ve earned from our customers. Together with Barclays, we’re excited to accelerate our growth and continue shaping the future of consumer finance in ways that are both meaningful and impactful.”

Barclays’ US Consumer Bank will leverage Best Egg’s digital and risk capabilities to enhance its credit card business that provides unsecured personal lending to customers by partnering with co-brand card partner programs. Buying Best Egg provides the bank an on-ramp into a well-established lending platform with proven underwriting and distribution capabilities. It also signals Barclays’ intent to diversify beyond credit cards and move into unsecured lending.

Barclays Group Chief Executive C.S. Venkatakrishnan described the acquisition as a key growth opportunity within the bank’s long-term US strategy. “The deep and sophisticated US consumer finance market offers rich prospects for growth at Barclays,” said Venkatakrishnan. “The transaction will strengthen our US Consumer Bank and offers an exciting opportunity to significantly bolster our capabilities in personal lending.”

Once the acquisition is complete, Barclays plans to leverage this same model while retaining a small portion of Best Egg’s new lending flow on its balance sheet.

Denny Nealon, CEO of Barclays US Consumer Bank, said the move supports the company’s broader goal of diversification and scale in US retail banking. “This acquisition represents a significant step forward in our strategy to grow and diversify our US consumer banking business,” said Nealon. “As a leader in the personal loans market, Best Egg gives us the ability to reach more US consumers through a proven platform that has been successful for over a decade. We look forward to welcoming Best Egg’s customers as well as its talented and experienced management team and colleagues upon closing in 2026.”

Photo by YUSUF ARSLAN

Share this:

Send Post Twitter LinkedIn Facebook

Thredd Taps LoanPro for New Credit Offering

Thredd Taps LoanPro for New Credit Offering
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, LoanPro

Digital payment solutions company Thredd has teamed up with lending and credit platform LoanPro this week. The UK-based company will leverage LoanPro’s credit platform to underpin its new suite of credit solutions, which will allow it to deliver full-stack embedded issuing and processing capabilities.

Thredd was founded in 2007 and offers real-time card issuing and processing capabilities to help clients personalize and differentiate their credit offerings. Integrating LoanPro’s composable credit infrastructure into its offerings will help Thredd expand further into the credit and lending space, enabling clients to launch and manage credit programs with greater flexibility and speed.

Commenting on the partnership, Thredd CEO Jim McCarthy emphasized the growing importance of credit-led innovation in embedded finance. “Credit-based value propositions drive not only more opportunities for both B2B and B2C verticals, but also generate more revenue for issuers, fintechs, and enterprises,” said McCarthy. “LoanPro’s platform solves much of the inherent complexity in providing truly differentiated credit, allowing us to offer our clients the tools to build sticky, profitable credit products, while maintaining compliance and operational efficiency.”

Founded in 2016, LoanPro has helped 600+ lenders launch 2,000 unique credit programs, upgrading their borrower, agent, and back-office operations. The Utah-based company’s composable architecture, built on a modern lending core, allows lenders to enhance their origination, servicing, payments, and collections operations.

LoanPro Co-Founder and CEO Rhett Roberts said that the partnership combines the strengths of both companies to accelerate how credit products are designed and deployed. “There is a massive opportunity to launch credit products in the U.S. and globally in a way that truly meets consumers and businesses where they are,” Roberts said. “The future of finance is personalized. Thredd brings together the entire ecosystem needed to launch revolving credit products, and with LoanPro’s modern, composable platform, clients can personalize and differentiate their offerings at scale in a way that drives share of wallet. We’re proud to support Thredd’s vision for global credit innovation.”

The partnership highlights how embedded finance providers are converging around full-stack, credit-enabled platforms. As banks, non-banks, and fintechs continue to embed lending and credit capabilities into their platforms, partnerships like this one blur the lines between payment processing, issuing, and credit management. Teaming up with LoanPro will place Thredd at the intersection of modern card issuing and next-generation credit infrastructure.

LoanPro has participated in our developers conference, FinDEVr 2021, and demoed its loan management system at FinovateSpring 2021.

Photo by Monstera Production

Share this:

Send Post Twitter LinkedIn Facebook

GoodData Brings Data Intelligence and Agentic AI to Financial Services

GoodData Brings Data Intelligence and Agentic AI to Financial Services
By David Penn Posted on
Categories: Alumni News, GoodData
  • Data intelligence platform GoodData has unveiled a suite of finance-focused applications for its recently launched composable AI platform.
  • The company’s new offering combines its AI Lake, AI Hub, and AI Apps into a single platform that will give financial institutions the tools they need in order to build and deploy AI agents.
  • Founded in 2007 and headquartered in San Francisco, California, GoodData most recently demoed its technology at FinovateFall 2017 in New York.

The challenge of managing unstructured and unorganized data across multiple platforms—let alone turning that data into actionable insights—is a difficult one for financial institutions. And for those firms looking to take advantage of AI to add personalization, greater efficiency, and agility to their operations, these data management challenges are all the more acute.

Add to this the unique regulatory and data governance demands in financial services, including transparency and auditability, and it is clear to see why a growing number of fintechs are working to create solutions that enable firms to deploy trusted AI technologies at scale that feature built-in governance, including semantic grounding and compliance controls.

One such innovator is full-stack data intelligence platform GoodData, which has just launched a set of new finance-focused applications for its recently unveiled composable AI platform. The new offering combines GoodData’s AI Lake, AI Hub, and AI Apps into a single platform for enterprise data intelligence, giving financial institutions the tools they need to build and deploy AI agents.

GoodData’s platform will bring trusted automation to banks, insurers, and other financial institutions via embeddable, compliant, and auditable AI agents. The agents detect and investigate fraud in seconds, providing the kind of audit trails that regulators can rely on and keeping portfolios compliant in real-time. This makes the compiling, checking, and disclosure submission processes of regulatory reporting easier, while still maintaining the high standards for compliance, governance, and security that are required in financial services.

“Financial institutions face some of the world’s strictest data governance rules, and our goal is to make compliance simpler,” GoodData CEO Roman Stanek said. “This platform lets them innovate with AI while ensuring transparency, trust, and regulatory alignment, modernizing client experiences and improving risk management without compromise.”

GoodData’s layered platform features AI Lake, which transforms structured and unstructured financial data into a governed semantic layer, ensuring AI agents are grounded in accurate, compliant, and context-aware data to enhance decision-making. The platform also includes AI Hub, which delivers orchestration and governance with built-in guardrails, escalation paths, and compliance workflows; and AI Apps, embeddable agents, copilots, and automations that add personalization to client-facing applications and enhance back-office operations, including regulatory reporting and fraud detection.

Headquartered in San Francisco, California and founded in 2007, GoodData last demoed its technology at FinovateFall 2017. The company’s composable platform empowers businesses to turn data into insights and insights into action, and integrates into any data environment across public, private, on-premises, or hybrid cloud. GoodData leverages no-code interfaces, SDKs, and APIs to support the full data analytics lifecycle from data modeling to AI-powered insights. Today, more than 140,000 organizations and 3+ million users including Visa, Travelodge, and Twilio rely on GoodData’s technology.

Photo by Tae Fuller

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope 2026: AI, Cybersecurity, Stablecoins, Quantum Computing and More!

FinovateEurope 2026: AI, Cybersecurity, Stablecoins, Quantum Computing and More!
By David Penn Posted on
Categories: FinovateEurope 2026

The initial agenda for FinovateEurope 2026—February 10 and February 11 at the Intercontinental O2 in London—has just been released. And while there are still plenty of elements to be added to the two-day event, we are already seeing the contours of a conference that will help attendees better understand the opportunities in emerging technologies like quantum computing, learn the latest strategies for fighting fraud and financial crime, and find the most effective use cases for both AI and digital assets like stablecoins.

There’s plenty to share in the weeks to come. For now, here are six of the early highlights from Days One and Two.

Day One: All About AI

Boom, bubble, or something else entirely, the AI revolution in technology continues to be one of the defining characteristics of innovation in our times. To this end, the first day of FinovateEurope 2026 will feature a number of sessions dedicated to the AI phenomenon and how banks and other financial institutions are putting this new technology to use to offer new products and services faster and better serve their corporate and retail customers.

On the afternoon of Day One, FinovateEurope will host an Executive Briefing titled The AI Competitive Imperative & Ten Solutions You Need to Know About Today. This session will discuss how firms can successfully integrate AI into core financial services operations. The briefing will cover strategies to deploy AI safely and compliantly, ensure that AI initiatives are aligned with the company’s business and change management strategy, and successfully scale their AI projects from pilot to production.

Later that afternoon, FinovateEurope will feature a Keynote Address: Agentic AI—A New Frontier in Banking, How Can FIs Harness it to Reimagine Enterprise Processes. Agentic AI is one of the most exciting developments in AI, with applications from cybersecurity to e-commerce. What needs to happen to ensure that Agentic AI delivers real value for both customers and banks? And what about the issues of trust and identity? How should banks operate in a brave new world in which bots are customers? Our keynote address on Agentic AI will cover all this and more.

FinovateEurope 2026 wraps up Day One with a Power Panel: AI, Everything, Everywhere, All at Once, Beyond the Hype—How Financial Institutions Can Use AI to Make Money or Save Money. This panel will showcase a variety of viewpoints on where we are in terms of AI, fintech, and financial services. Where are the greatest opportunities: product innovation or customer journeys? What are the best use cases for financial institutions and do we have the right KPIs to measure success? And what does it mean for financial institutions to “lean into” the opportunities in AI—where do the potential rewards most clearly outweigh the potential risks?

Day Two: Cyber Security, Quantum Computing, and Stablecoins

If Day One is dedicated to all things AI, Day Two offers a tour of many of the other enabling technologies and top challenges in fintech and financial services.

Wednesday morning, FinovateEurope will feature a Power Panel: Financial Crime & Cyber Security—How Banks & Fintechs Can Work Together to Meet the Challenges of the Digital Era. This session will look at some of the new tools and technologies that are available to help combat financial crime. The conversation will cover the role of digital identity and biometric authentication—as well as AI and machine learning—in the current fight against the fraudsters. The panel will also examine ways that fintechs and banks can partner to better defend customers from both contemporary and evolving threats.

AI is not the only advanced technology that fintechs and banks are exploring. Quantum computing, with processing power that dwarfs that of supercomputers, could have a major impact on industries from technology to communications to defense. FinovateEurope’s Quick Fire Keynote: How Quantum Computing Could Transform Banking—What Are the Use Cases for Banks? will provide insightful commentary on what bankers—and their technology partners—need to know about the promise and risks of quantum computing.

There are many areas where the UK and Europe are ahead of the US—sustainability, open banking and open finance, for example. But has the new clarity in stablecoins in the US courtesy of the Genius Act given the States an edge vis-à-vis the UK and Europe when it comes to these digital assets? FinovateEurope’s Fireside Chat: Stablecoins and Tokenized Deposits in the Real World—Hype vs Reality will look at the current regulatory status of digital assets like stablecoins in the EU and discuss what to look for in the next phase of cryptocurrency adoption in the region.

There’s plenty more conversation coming—from discussions about bank modernization and the power of platform banking partnerships to the growth of open banking, open data, and open finance. Be sure to check out our FinovateEurope 2026 hub—as well as our coverage here on the Finovate blog—for the latest updates.

Share this:

Send Post Twitter LinkedIn Facebook

Prove’s New Verified Agent Solution Brings Trust and Verification for Autonomous Agents

Prove’s New Verified Agent Solution Brings Trust and Verification for Autonomous Agents
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • As AI agents begin transacting on behalf of users, traditional payment and identity models fall short of providing the trust these systems require.
  • Prove is introducing its Verified Agent solution that links verified identity, intent, payment credentials, and consent through a cryptographically backed chain of custody for every autonomous transaction.
  • By replacing weak verification methods with multi-factor authentication and cryptographic proof, Prove aims to make agentic commerce safe enough to scale globally.

There has been plenty of hype around agentic commerce this fall, but many of the announcements surrounding agentic shopping and payments have leap-frogged an important issue: agent identity verification.

Digital identity company Prove is helping to solve this issue today with its new launch, the Prove Verified Agent, which aims to provide a trust and verification layer for autonomous agents acting on behalf of consumers and businesses. The new Verified Agent tool works by creating an end-to-end chain of custody that links verified identity, intent, payment credentials, and consent backed by cryptographic proof.

Agentic commerce, which could add more than $1 trillion in annual economic value, is different from the traditional four-party payment model that leverages legacy rails and identity verification. These models were not designed to allow AI agents to act on behalf of users, and agentic commerce can’t scale on traditional identity rails.

Recognizing that agentic commerce depends on verified trust between humans and machines, Prove’s leadership emphasized how identity must sit at the heart of this new ecosystem. “The vision and benefits of agentic commerce cannot be realized without trust,” said Prove CEO Rodger Desai. “Our foundational principle has always been to enable secure transactions by verifying identity and consent without friction. That approach positions Prove to lead in the agentic economy. Our platform is purpose-built for a future where bots act on our behalf, with identity that is native to every transaction and built on frontier identity principles.”

Prove’s Verified Agent offers a new trust framework that is built on the Prove Identity Graph, creating a cryptographically backed “chain of custody” for every autonomous transaction. The system begins by anchoring a verified digital identity to real-world attributes—such as phone numbers, national IDs, and payment credentials—tying each agent’s actions to a legitimate individual or business.

After tying the verified person or entity to an attribute, Prove issues signed digital credentials to authorized agents. These credentials enable agents to transact on behalf of their users, while counterparties can instantly verify their authenticity using cryptographic checks. Every identity and transaction is cross-referenced against a live registry of agent publishers, relying parties, merchants, payment networks, and CDNs to filter out unverified automation. Once verified, agents are authorized to act on behalf of a verified individual or entity, and Prove maintains the link between verified identity, intent, payment credentials, and consent.

To further protect users, Prove’s Verified Agent replaces text-based verification and one-time passwords with multi-factor authentication and session-level authorization limits, reducing phishing attempts and ensuring that each agent operates strictly within a user’s explicit consent. Additionally, every interaction is completely auditable. The interactions among agents, merchants, and users are co-signed by both user and merchant keys to provide cryptographic evidence for dispute resolution, chargeback protection, and regulatory reporting.

By creating this trust, Prove anticipates that it will enable global ecosystems to participate in the agentic economy without fear of identity violations.

Photo by Brett Jordan on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Qolo Announces Strategic Alignment with Huntington Bank, Launches Connected Deposits

Qolo Announces Strategic Alignment with Huntington Bank, Launches Connected Deposits
By David Penn Posted on
Categories: Funding, Qolo
  • Modern treasury solutions company Qolo has forged a “strategic alignment” with Huntington National Bank.
  • The alignment comes as the two companies unveiled a new virtual account management (VAM) platform, Connected Deposits, and follows a strategic investment Huntington made in Qolo earlier this year.
  • Headquartered in Fort Lauderdale, Florida, Qolo made its Finovate debut at FinovateFall 2022 in New York.

There is a wide range of challenges facing banks when it comes to treasury management these days. Interest rate uncertainty, rising regulatory scrutiny and compliance costs, working capital optimization, and technology challenges—from modernization to cybersecurity—are all issues that have made treasury management that much more difficult for CFOs, treasury managers, and their teams.

Over the summer, PwC published its 2025 Global Treasury Survey which showed how “the role of treasury continues to evolve into a more strategic, innovative and data-driven partner” that is a fundamental part of value creation for businesses. Quantitatively, the survey noted that approximately 40% of its 350 respondents—treasurers from around the world—said that they were not leveraging an in-house banking or payment centralization model. 65% of organizations queried said that they are planning to expand API use in the next few years.

This is the context in which we learn that modern treasury solutions provider Qolo has announced a “strategic alignment” with Huntington National Bank. The alignment follows a minority strategic investment the financial institution made in the Fort Lauderdale-based fintech earlier this year, and comes as the two companies announced the launch of a new virtual account management (VAM) platform, Connected Deposits, for Huntington National Bank’s commercial customers.

“Our alignment with Huntington reflects a shared vision for the future of commercial banking,” Qolo Founder and CEO Patricia Montesi said. “Treasury management is getting more complex and dynamic across almost every industry, making Virtual Account Management tools like the one Huntington is launching with Qolo increasingly essential. Together, we’ve built a solution that empowers businesses to operate with greater agility, transparency, and control.”

Connected Deposits is a Virtual Account Management (VAM) platform, built on Qolo’s technology, that enables real-time cash visibility, automated reconciliation, and seamless fund segregation for multi-entity businesses—all within a single parent account. The new offering is designed to help the bank’s corporate customers better manage their complex operational needs—from payments to reporting—via an API-first architecture.

Qolo anticipates that Connected Deposits will show banks how technology can enhance treasury management by reducing account maintenance costs and eliminating manual payment reconciliations. Instead, Connected Deposits, with its real-time visibility into cash positions across all entities and projects, not only enhances compliance and risk controls, but also generates new fee income opportunities for banks via modern treasury services.

“With Qolo’s technology powering Connected Deposits, we’re able to offer enhanced efficiency across complex cash management needs for our commercial clients,” Huntington’s head of national deposits, Alex Tsarnas, said. “This platform strengthens our ability to serve clients with specialized requirements while reinforcing Huntington’s commitment to innovation and client-centric solutions.”

Founded in 2018 and headquartered in Fort Lauderdale, Florida, Qolo made its Finovate debut at FinovateFall 2022 in New York. At the conference, the company demonstrated how its Companion Core provided banks with fintech functionality that worked in tandem with their current systems, enabling them to offer their customers a range of new services without the need to undergo a disruptive, wholesale core replacement.

Check out our interview with Qolo’s Montesi from FinovateFall 2025 last month.

Photo by Daniel Halseth on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook