Alumni News

ID.me Raises $340 Million at a $2 Billion Valuation

ID.me Raises $340 Million at a $2 Billion Valuation
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Funding, ID.me
  • ID.me raised $340 million in a Series E investment plus a credit facility, which boosts its valuation to over $2 billion and brings its total funding to $1.1 billion.
  • The funding will accelerate secure, reusable digital identity solutions and combat AI-driven fraud, which cost the US up to $521 billion annually.
  • ID.me now counts 152 million users, totaling 60% of US adults, with adoption across 20 federal agencies, 45 states, and 600+ brands.

Digital identity network ID.me revealed this week that it has raised $340 million in a Series E financing round plus a credit facility. The round values ID.me at more than $2 billion. 

Ribbit Capital led the investment, while existing investors Ares Credit Funds and Moonshots Capital, as well as new investors, including Positive Sum, also participated. ID.me will use the funding to accelerate its mission to expand access to secure, reusable digital identity and to stop AI-driven fraud.

The funds, which bring ID.me’s total raised to $1.1 billion, come at a time of rising fraud across the globe. According to the Government Accountability Office (GAO), the US government lost up to $521 billion annually to fraud between 2018 and 2022. The increase in fraud is fueled by stolen identities and deepfakes, both of which are increasing vulnerabilities faster than ever.

“Fraud is evolving at the speed of AI—and so are we,” said ID.me Founder and CEO Blake Hall. “Secure identity is foundational to AI ecosystems that will depend on memory, context, and authentication, and ID.me is leading the charge. This funding strengthens our ability to expand secure digital access, protect privacy, and innovate faster to stay ahead of criminal networks.”

ID.me was founded in 2010 to serve as a digital identity wallet that helps users prove and share their identities online without disclosing additional personal information. The company maintains a digital identity network that includes 20 federal agencies, 45 state agencies, and 600+ retail brands, all of which use ID.me to verify customers’ identities and affiliations. ID.me’s ID wallet helps users prove they belong to certain affiliated groups, such as teachers, students, first responders, or military veterans.

Last year, ID.me added 20.4 million new wallets, which breaks down to over 55,000 each day. That same year, it also powered more than 409 million successful logins, representing a 44% increase year-over-year. In total, ID.me counts 152 million users, representing nearly 60% of adults in the US.

“We believe the AI revolution will reshape the global economy, and identity will be its foundation,” said Ribbit Capital General Partner Justin Saslaw. “As AI agents become ubiquitous, trusted identity tokens will enable secure, seamless interactions between people, organizations, and machines. ID.me has built one of the most advanced and widely adopted digital identity wallets in the world, giving it a durable advantage in creating and scaling the identity tokens that will power this new era. We’re excited to partner with Blake and the ID.me team as they expand their leadership in the token-driven AI economy.”

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nCino Launches ProBanker by FullCircl

nCino Launches ProBanker by FullCircl
By David Penn Posted on
Categories: Alumni News, nCino
  • Banking solutions provider nCino announced the general availability of ProBanker by FullCircl.
  • The new offering, developed in partnership with Experian, gives banks and other financial institutions visibility into credit status, affordability, and liquidity.
  • nCino was founded in 2012. The company acquired FullCircl in October 2024.

Less than a year after acquiring Client Lifecycle Intelligence platform FullCircl, banking solutions provider nCino has announced the general availability of ProBanker by FullCircl. Developed in collaboration with fellow Finovate alum Experian and part of a suite of Smart Solutions, ProBanker provides near real-time visibility into commercial credit status, affordability, and liquidity across the UK lending landscape. This enables banks and other financial institutions to follow and observe potential opportunities and risks at both the portfolio and individual level.

“This isn’t theoretical—it’s about solving the fundamental problem every commercial lender faces: How do you assess true customer risk and identify opportunity when you only see part of their financial picture?” nCino Associate Director, Product Management, Immy Tugcu said. “ProBanker represents a timely and transformational capability for both traditional and alternative funding providers looking to improve portfolio performance, retain market share, and meet growing expectations around speed, compliance, and customer experience.”

ProBanker leverages a rich dataset of approximately 18 million UK commercial credit accounts, as well as business current account data beyond the mandated Competition and Markets Authority 9 (CMA9) banks. The solution empowers lenders with a multi-bank, total market view of a customer’s credit exposure, and enables them to track both affordability and liquidity in near real-time. ProBanker helps strengthen portfolio health by spotting early warning signs of financial distress, and enhances customer outcomes through proactive engagement and personalized outreach.

In a statement, nCino noted that, in an initial pilot with a major UK bank, the financial institution observed that ProBanker helped them identify potential credit risks six months earlier on average compared to its current processes. The bank also said ProBanker helped them support customers who were eligible for extended or new funding products.

“In today’s fast-paced and increasingly complex lending environment, real-time, high-quality data and insight are the bedrock of being able to make confident, informed decisions at speed,” said David Gallihawk, Experian UK&I Chief Product Officer, Business Information Services. “ProBanker delivers exactly that. Our collaboration with nCino will bring greater transparency and help modernize lending opportunities, allowing clients to unlock deeper value from their portfolios.”

Founded in 2012, nCino made its Finovate debut at FinovateEurope 2017 in London. The company’s ProBanker with FullCircl launch comes a little over a month after the company announced that Japanese bank group SBI Credit Guarantee Co., Ltd. had gone live with nCino as the platform for its mortgage guarantee business. In May, nCino unveiled a range of new platform enhancements designed to help banks, credit unions, and other financial institutions secure a competitive advantage via intelligence-driven automation.

Photo by Pixabay

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Alloy and Mastercard Team Up to Accelerate the Onboarding Process

Alloy and Mastercard Team Up to Accelerate the Onboarding Process
By David Penn Posted on
Categories: Alloy, Alumni News, MasterCard
  • Identity and fraud prevention solution provider Alloy has teamed up with Mastercard to launch an enhanced customer onboarding solution for financial institutions and fintechs.
  • The joint offering will use both identity verification technology and open finance to streamline onboarding and fight fraud.
  • Founded in 2015, Alloy most recently demoed its technology at FinovateFall 2022.

Identity and fraud prevention platform provider Alloy has inked a global partnership with Mastercard to introduce an enhanced customer onboarding solution for financial institutions and fintechs. The new offering comes as these businesses cited a 60% increase in fraud in 2024, according to Alloy’s 2025 State of Fraud Report. The report further noted that 93% of those financial organizations surveyed planned to invest in ongoing fraud prevention measures this year, with 64% planning to deploy identity risk technology, as well.

“Fraud continues to be a significant challenge for financial institutions and consumers alike, underscoring the urgent need for robust fraud prevention measures,” Mastercard EVP and Global Head of Identity, Dennis Gamiello said. “This joint onboarding solution will be a game-changer in the fight to reduce fraud and deliver a seamless and secure customer experience.”

The joint offering from Alloy and Mastercard will leverage both identity verification and open finance to simultaneously streamline onboarding and fight fraud. The solution provides a consistent identity risk strategy and onboarding experience across channels. Alloy will leverage Mastercard’s global digital identity verification capabilities and suite of open finance-powered account opening solutions to support financial institutions as they manage fraud, identity risk, and secure account funding throughout the customer lifecycle.

At the same time, Mastercard solutions will be integrated and pre-configured in Alloy to enable seamless deployment. Customers will have access to 200+ risk and identity solutions available via Alloy that are designed to help boost customer conversion rates, reduce the amount of manual reviews, and provide comprehensive end-to-end coverage.

“Successful fraud prevention starts with a holistic approach to understanding identity. Our partnership with Mastercard will allow more financial institutions and fintechs to evaluate customer identities holistically,” Alloy Chief Product Officer Parilee Wang said. “The end result for those companies will be a better digital experience and less fraud risk, allowing their businesses to grow effectively.”

Founded in 2015 and headquartered in St. Paul, Minnesota, Alloy introduced itself to Finovate audiences at FinDEVr SiliconValley 2016, and returned to the Finovate stage six years later for FinovateFall 2022 in New York. More recently, Alloy was included in CNBC World’s Top Fintech Companies roster for 2025 and, in June, the company announced a partnership with IG Group to help the FTSE 250 online trading firm maintain regulatory compliance as it grows.

Photo by Leo_Visions on Unsplash

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Gusto To Acquire Retirement Specialist Guideline

Gusto To Acquire Retirement Specialist Guideline
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Gusto, Mergers & Acquisitions
  • Payroll and HR platform Gusto plans to acquire retirement plan provider Guideline, expanding its small business benefits offerings.
  • While terms of the deal were not disclosed, Guideline was valued at $1.15 billion in 2021, and given that fintech valuations have compressed by around 26%, is estimated to be worth around $851 million today.
  • The combined companies aim to simplify retirement plan access for tens of thousands of small businesses, especially as states increasingly mandate employer-sponsored retirement options.

Payroll, benefits, and HR management solutions company Gusto unveiled plans to acquire retirement plan provider Guideline.

While financial terms of the agreement were not disclosed, Guideline had a $1.15 billion valuation in 2021 and claimed an annualized revenue of $140 million as of January 2025. Generally speaking, fintech valuations have been compressed by about 26% on average since 2021, so it is roughly estimated to be valued at $851 million today.

Gusto, originally known as ZenPayroll, was founded in 2011 to provide a cloud-based payroll, benefits, and HR management solution. The company’s tools help businesses track time and attendance, onboard new employees, manage existing talent, and more. In 2015, Gusto added to its small business offerings by offering health insurance and workers’ compensation, and a year later launched 401(k) retirement plans via a partnership with Guideline. Today, the San Francisco-based company serves more than 400,000 small businesses and is now valued at $9.3 billion.

Founded in 2015, Guideline helps businesses offer 401(k) and IRA retirement benefits to their team in a simplified approach. The California-based company works with small-to-mid-size businesses, franchises, and self-employed individuals across multiple industries, with dentist offices being the top category.

While Guideline has a direct-to-business approach, it also offers its plans via distribution partnerships with ADP, Block, Intuit, Paylocity, TriNet, and Rippling—all competitors of Gusto. Interestingly, Guideline plans to maintain integrations with those partners even after the acquisition closes.

Together, the two will serve tens of thousands of small businesses, offering them an integrated approach to adding retirement benefits, no matter the size of their team. Today’s deal will help Gusto serve its customers with more of Guideline’s services without having to worry about revenue sharing.

“We’re going to have the ability, in the right moment at the right time, to help [small business customers] if they want. It’s never going to be something they have to do—it’s always their choice—but help them understand that they can actually go provide retirement benefits to their team,” said Gusto CEO and Co-Founder Josh Reeves. “And so one thing I’m really, really excited about is I think we’re going to have a chance to help a lot more companies with retirement benefits by being together than if we had stayed separate.”

The acquisition is especially salient for Gusto, given that some states have passed mandates that now require businesses to provide their employees with retirement plans. The move also helps Gusto differentiate itself from competitors like ADP and Paychex by owning more of the retirement infrastructure directly, rather than relying solely on partnerships. In doing so, Gusto is strengthening its full-service appeal as the go-to HR and benefits provider for small businesses.

Photo by MART PRODUCTION

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Ant International, Standard Chartered, and Swift Build Bank-to-Wallet Payment Solution

Ant International, Standard Chartered, and Swift Build Bank-to-Wallet Payment Solution
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Standard Chartered Bank
  • Ant International, Standard Chartered, and Swift have launched a new bank-to-wallet solution linking Swift’s 11,500-institution network with Alipay+’s 1.7 billion digital wallet accounts across 36 providers.
  • The service offers faster, regulated alternatives to stablecoins, with ISO 20022 backing to ensure interoperability, compliance, and scalability for cross-border payments.
  • Beyond speed, the initiative aims to boost financial inclusion, giving underbanked consumers access to funds through wallets they already use while allowing banks to stay relevant in wallet-first markets.

Global payments and fintech provider Ant International, international banking group Standard Chartered, and provider of secure financial messaging services Swift are banding together this week to launch a bank-to-wallet payment solution.

The three are leveraging Swift’s network of over 11,500 financial institutions in more than 200 countries and territories, as well as Ant International’s global wallet gateway service Alipay+. The new payment solution will connect Swift’s network to the 1.7 billion user accounts on the 36 global digital wallets in Alipay+’s ecosystem.

“We are very excited to be part of this ground-breaking multilateral collaboration with Swift, banking leaders, and Alipay+ e-wallet partners to facilitate bank-to-wallet transactions on a global scale,” said Ant International General Manager of Global Remittance Jacques Xu. “Ant International will continue to support such cross-sector collaboration with fintech innovations, to build a more connected payment and financial ecosystem for businesses and consumers with ever higher standards of transparency and security, as part of our focus on promoting global interoperability and inclusion.”

The digital wallet can also create an onramp into the traditional financial system. That’s because wallets connected to banks via Swift create a bridge that allows users to build transaction histories, potentially improving access to credit, insurance, and other financial services. Additionally, it has the potential to help unbanked and underbanked consumers because the bank-to-wallet capabilities allow them to receive money directly into a wallet they already use, circumventing the barriers to opening a bank account.

“In a world of fast-moving innovation with a growing number of ways to move value, consumers and businesses expect more choice and optionality in their international payments experience,” said Swift Chief Executive, Asia Pacific, Kevin Wong. “Swift is at the forefront of providing a best-in-class experience with greater flexibility and choice. This collaboration with Ant International and Standard Chartered reflects that strategic commitment to faster, frictionless payments across multiple networks.”

The first transactions on the new payments solution have already been successfully completed between a Standard Chartered Bank customer account and a partner e-wallet.

The launch of the new bank-to-wallet solution comes as stablecoin capabilities gain traction as an alternative for cross-border payments. However, while stablecoins promise fast, low-cost settlement, regulatory uncertainty and fragmentation have limited their adoption at scale. By contrast, today’s initiative shows how banks and fintechs can deliver many of the same benefits through established, regulated rails. Backed by the ISO 20022 messaging standard, the model also ensures interoperability and compliance with global payment systems, giving it a more durable foundation than many of today’s experimental stablecoin frameworks.

This partnership is a great example of how traditional banks and infrastructure services are collaborating with international tech players, moving from competition to interoperability. By linking Swift’s rails with Alipay+’s wallet ecosystem, the bank-to-wallet solution not only brings underbanked consumers into the financial system, but also strengthens cross-border payments. For Standard Chartered, it offers a chance to remain as a central player in markets where digital wallets dominate. The launch is also validating for fintechs that digital wallets have now gone mainstream.

“We are pleased to be the bank of choice to conceptualize, test, and deliver this innovation,” said Standard Chartered Global Head of Transaction Banking Michael Spiegel. “It is testament to the versatility of our banking platform and our strategic relationship with both Swift and Ant International. We will continue to push the boundaries of finance to shape the future of our industry, securely and in compliance with regulatory requirements.”

Photo by Sora Shimazaki

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Finshape Acquires Loyalty Platform Realtime-XLS

Finshape Acquires Loyalty Platform Realtime-XLS
By David Penn Posted on
Categories: Alumni News, Finshape
  • Budapest, Hungary-based digital banking solutions company Finshape has completed its acquisition of loyalty platform Realtime-XLS.
  • The acquisition will enhance Finshape’s expertise in customer loyalty with the addition of 60 new specialists, as well as expand the firm’s reach geographically.
  • Finshape made its Finovate debut at FinovateEurope 2023 in London.

Digital banking solutions provider Finshape has completed its acquisition of loyalty platform Realtime-XLS. Finshape bought the company from the Collinson Group and it represents Finshape’s first acquisition of a global product company. Terms of the transaction were not disclosed.

There’s a lot to like in the move. The acquisition will boost Finshape’s expertise in the field of customer loyalty, giving the company 60 new specialists. The deal will also enable Finshape to extend its geographic reach courtesy of new offices in France and Singapore, and bolster its relationships with major banks in the UAE, Australia, Indonesia, and Singapore. In total, Finshape will consist of nearly 600 professionals supporting millions of end users across 100 banks around the world.

“This acquisition is a strategic milestone on our mission to transform the way banks serve their customers by unlocking the full potential of people and technology,” Finshape CEO Petr Koutný said.

Integrating the Realtime-XLS solution will give Finshape’s Digital Bank Operating System (DBOS) advanced loyalty capabilities, enabling banks to reward customer behavior, boost customer engagement, and generate additional revenue via cross-sell and up-sell opportunities. This will increase customer lifetime value, help banks secure a larger share of wallet, and make growth more sustainable.

“The loyalty solution will now form an integral part of our growing, customer-centric digital banking portfolio,” Koutný added. “Seamlessly integrated into our DBOS platform, it enhances the value we deliver by enabling banks to offer hyper-personalized experiences and build deeper, more meaningful relationships with their customers.”

Headquartered in Budapest, Hungary, Finshape won Best of Show for its demo at FinovateEurope 2022. At the event, the company showed how its platform combines digital banking and deep personalization capabilities to help financial institutions boost digital engagement, loyalty, and sales—especially among their micro- and small business customers. The company was formed in 2021 when Czech Banking Software Company (BSC) merged with Hungary’s W.UP (a three-time Finovate Best of Show winner).

Jenő Nieder, Deputy CEO at PortfoLion Capital Partners, the majority owner of Finshape that helped finance the merger between BSC and W.UP, praised the transaction as “perfectly aligned with the buy-and-build strategy” conceived when Finshape was founded. “This transaction not only incorporates a new loyalty platform but also adds new capabilities and true global coverage to an already strong company,” Nieder said.

Photo by Joseph Sun on Unsplash

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Endaoment Announces Partnership with Active Cause to Help Influencers Give Back

Endaoment Announces Partnership with Active Cause to Help Influencers Give Back
By David Penn Posted on
Categories: Alumni News, Endaoment
  • A new partnership between Donor-Advised Fund (DAF) provider Endaoment and philanthropic advisory firm Active Cause will help creatives, athletes, entertainers, and influencers make charitable donations in cash, stock, crypto, and other assets.
  • A DAF works like a charitable investment account, enabling investors to make tax-deductible contributions and to recommend charitable grant outlays from the fund, while the assets grow in value over time.
  • Founded in 2020, Endaoment made its Finovate debut at FinovateSpring 2024 in San Francisco. Robbie Heeger is President and CEO.

Next-generation Donor-Advised Fund (DAF) provider Endaoment has teamed up with philanthropic advisory firm Active Cause. The partnership combines Endaoment’s DAF infrastructure with Active Cause’s experience in serving the philanthropic needs of athletes, creatives, entertainers, and other influencers. Active Cause clients will be able to leverage the Endaoment platform to set up their own personalized DAFs where they can make charitable donations in cash, stock, crypto, as well as other assets.

“Active Cause is leading a cultural shift in philanthropy by centering creatives, athletes, and entertainers,” Endaoment President and CEO Robbie Heeger said. “We’re proud to provide the technology and infrastructure that allows their members to give seamlessly and confidently, while tracking their impact in real time.”

A DAF is a financial vehicle that acts like a charitable investment account. Contributions to DAFs are irrevocable to the sponsoring 501(c)(3) organization, which gains legal control over the funds. And while funds cannot be withdrawn for personal use, contributors—donors—still retain advisory rights over how the funds are invested and ultimately distributed.

DAFs provide donors with immediate tax benefits, enabling them to deduct the full amount of the contribution from their tax bill. The invested assets appreciate and grow tax-free over time and donors can recommend grants from the fund to qualified charities as they deem appropriate.

The partnership will embed charitable giving options directly into Active Cause’s membership platform, empowering influencers to support the causes that matter most to them. In addition to providing streamlined, simplified philanthropic service and tax advantages for creatives with often high-but-unpredictable income streams, the personal DAFs also offer a degree of privacy to help keep charitable donations out of the headlines.

“Our partnership with Endaoment gives members access to a modern platform that makes giving easier, faster, and more transparent,” Active Cause Co-Founder and CEO Yonis said in a video statement posted on LinkedIn.

Active Cause has more than 20 athletes, artists, and creators who have launched funds through the company and granted more than $10 million to community organizations as of 2025. The company provides philanthropic strategy and impact monitoring on key metrics like tax savings and fund growth. Working with Active Cause streamlines philanthropic processes, cutting administrative time by up to 50%, and lowering administrative costs to as low as 1.5% for DAFs greater than $10 million.

Founded in 2020 and headquartered in San Francisco, California, Endaoment made its Finovate debut at FinovateSpring 2024. Earlier this year, the company launched its Farcaster mini-app that helps users “convert emotional resonance into immediate impact.” The app enables users to find and donate to causes directly within their social feed and to share giving opportunities with those in their network. Donations can be made in USD, USDC, or ETH.

Photo by Tara Winstead

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Electronic Payments Acquires Handpoint

Electronic Payments Acquires Handpoint
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Handpoint, Mergers & Acquisitions
  • Electronic Payments is acquiring Handpoint to expand into Europe, gaining offices in the UK, Iceland, and Spain.
  • Handpoint’s tools include mobile payment acceptance, an embedded payments platform, a card-present gateway, and real-time transaction reporting.
  • The deal strengthens Electronic Payments’ mobile and embedded offerings, helping it compete with newer players like Stripe and Square.

New York-based Electronic Payments has agreed to acquire UK-based Handpoint for an undisclosed amount.

Handpoint was founded in 1999 to provide in-person payments tools. The company helps its customers accept payments on smartphones, tablets, and handhelds, and enables merchants to accept card payments securely. In addition to hardware, Handpoint also offers an embedded payments platform, a card-present gateway, and provides real-time transaction data that gives merchants in-depth reporting. Before today’s announcement, Handpoint had raised a total of $8 million, most recently pulling in $2.4 million in 2021.

Handpoint demoed at FinovateFall 2012 and FinovateEurope 2012, at the height of the mobile payment acceptance wave that Block (then Square) kicked off in 2010.

Electronic Payments was founded in 1998 and offers a network of POS value-added resellers (VARs), agent banks, sales agents, and independent sales offices (ISOs) to businesses across multiple industries. Among the company’s products are Cygma, a full-stack authorization and clearing platform; Exatouch, a full-featured point-of-sale device; and ProCharge Gateway, a virtual terminal that helps process and manage payments from one central location.

Handpoint will give Electronic Payments an immediate European presence, as Handpoint maintains offices in the UK, Iceland, and Spain, new territories for Electronic Payments. Integrating Handpoint’s tools could allow US merchants that require cross-border capabilities to tap into a single payments partner on both sides of the Atlantic. Additionally, Electronic Payments could integrate Handpoint’s embedded payments platform with its Cygma clearing system, which would facilitate a more omnichannel approach.

Purchasing Handpoint will also help Electronic Payments strengthen its mobile and embedded payments offerings. This will help it compete with the self-service model that new players, like Stripe and Square, offer.

Photo by Ivan Samkov

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Finzly Integrates with Q2’s Digital Banking Platform

Finzly Integrates with Q2’s Digital Banking Platform
By David Penn Posted on
Categories: Alumni News, Finzly, Q2
  • Payment infrastructure provider Finzly announced an integration with Q2.
  • Finzly will bring its payment experience to Q2’s Digital Banking Platform, enabling financial institutions to offer their customers greater payments capabilities.
  • Both Finzly and Q2 won Best of Show awards at our all-digital conferences in 2020.

Finzly has announced an integration with fellow Finovate alum Q2 that will bring its payment experience to Q2’s Digital Banking Platform. This will enable financial institutions to offer their customers the ability to send and track a variety of payments, including cross-border, domestic, and instant payments—without having to leave the platform.

“In today’s connected world, businesses and consumers expect their banks to deliver seamless payment experiences. With fintechs setting new expectations for simplicity, speed, and transparency, banks and credit unions must be able to meet these demands effortlessly,” Finzly CEO and Founder Booshan Rengachari said. “By integrating Finzly’s solution into Q2’s Digital Banking Platform, we’re providing financial institutions with a simple, efficient way to offer exceptional payment experiences—including international payments—that exceed account holder expectations, without the need for a complex overhaul.”

A payments infrastructure provider for financial institutions, Finzly offers a payment experience that delivers real-time visibility, competitive FX rates, and built-in regulatory compliance and fraud monitoring. Importantly, the technology is “rail-agnostic,” supporting FedNow, RTP, Fedwire, ACH, and SWIFT. Integrated into the Q2 Digital Banking Platform, Finzly’s technology will help financial institutions expand their offerings, generate new revenues, and grow their customer base.

The integration was made possible by the Q2 Partner Accelerator Program. The program is a component of the Q2 Innovation Studio and enables in-demand financial services companies that are working with the Q2 SDK to pre-integrate their technology into the Q2 Digital Banking Platform. This makes it easy for banks and other financial institutions to collaborate with these companies, buy their solutions, and quickly deploy the technologies for their customers.

A Finovate alum since 2011, Q2 won Best of Show at our all-digital conference in 2020. Founded in 2004 and headquartered in Austin, Texas, Q2 offers a Digital Banking Platform that provides a range of secure, data-driven banking and lending solutions to banks, credit unions, fintechs, and other companies in financial services. Financial institutions using the company’s platform have reported 54% higher deposit growth, 48% higher loan growth, 27% higher revenue per employee, and 13% higher return on assets compared to companies that do not use the platform. This week, the company reported that Open Payment Network (OPN) has become the first integration partner for Q2 Instant Payments Manager, a solution designed to help financial institutions manage instant payments workflows.

Finzly made its Finovate debut at FinovateFall 2019 and won Best of Show in its return to the Finovate stage the following year. Most recently demonstrating its technology at FinovateSpring 2022, Finzly showed how its bank operating system, FinzlyOS, can quickly launch a modern, digital bank equipped with direct connections to all the major payments networks—from ACH and wires to RTP, FedNow, and SWIFT. Earlier this month, the company announced that it is gearing up to support both stablecoin and tokenized deposits in response to a demand for these digital assets that the company described as “exponential.”

“The momentum behind stablecoins is undeniable, and we’re seeing remarkable interest from US banks who recognize this isn’t just a trend,” Rengachari said. “Financial institutions that prepare now with the right infrastructure will be positioned to capitalize on what could be a $2 trillion market by 2028, while those that wait risk being left behind in an increasingly digital financial ecosystem.”

Headquartered in Charlotte, North Carolina, Finzly was founded in 2012.

Photo by Clay Banks on Unsplash

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Incode Acquires Identity Verification Company AuthenticID

Incode Acquires Identity Verification Company AuthenticID
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, authenticID, Daily news, Mergers & Acquisitions
  • Incode has acquired AuthenticID to combine AI-driven fraud detection with enterprise-scale expertise, aiming to become a top global identity verification provider.
  • The deal strengthens Incode’s defenses against rising AI threats like deepfakes and synthetic fraud.
  • Together, the companies serve major banks, telecoms, and neobanks worldwide.

Identity verification company AuthenticID has been acquired by biometric identity organization Incode. The acquisition will bring together Incode’s AI solutions with AuthenticID’s enterprise expertise to combat fraud. The amount of the deal is undisclosed.

Incode said that the acquisition will accelerate its growth and position it as a leader in the identity authentication market. California-based Incode has seen an 80% year-on-year organic growth rate, and with AuthenticID on board, the company aims to broaden its global reach and solidify its position as a top-tier provider of end-to-end identity verification solutions.

“In the age of synthetic fraud, AI impersonation, and Agentic AI, verifying human identity has become the foundation of digital trust. Together with AuthenticID, we’re hardening the front line against these threats, so every enterprise can trust every interaction,” said Incode Founder and CEO Ricardo Amper.

Founded in 2015, Incode offers advanced neural networks and large visual language models that help detect and prevent identity fraud in real time. AuthenticID will add its expertise in regulated environments that require a high volume of verification.

Together, Incode and AuthenticID will strengthen defenses against advanced AI-driven threats, including deepfakes, which have fueled a 300% year-over-year surge in account opening fraud, and AI agents operating without identity safeguards. Collectively, the two companies serve eight of the ten largest US banks, protect eight of the nine biggest telecom providers in North America, work with four of the top five banks in Latin America, secure three leading global neobanks, and safeguard hundreds of organizations against retail fraud.

AuthenticID was founded in 2001 and offers identity proofing, ID verification, biometric authentication, and fraud shield tools to support the fight against cybercrime. Additionally, the company’s Identity Fraud Taskforce continuously develops new algorithms to improve AuthenticID’s identity decisioning engine to help identify and stop fraud. Last June, the company launched a new solution to detect deepfake and generative AI injection attacks. 

“As AI-driven fraud becomes more sophisticated, our clients need more than just point solutions—they need a holistic AI-first approach delivered by a true strategic partner,” said AuthenticID CEO Reed Taussig. “Incode’s vision and AI technology leadership, leveraging foundational vision models, enable us to deliver an identity orchestration platform that is fast, secure, and highly adaptive across our expanded customer base.”

Today’s deal is a good example of how identity verification is a strategic pillar of digital trust. As AI-driven fraud accelerates and regulators tighten controls, financial services firms need partners that can combine speed, accuracy, and adaptability at scale. By uniting Incode’s AI-first innovation with AuthenticID’s enterprise and regulatory expertise, the acquisition signals a future where identity is more holistic.

Photo by cottonbro studio

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Wio Bank Partners with Xero to Enhance Accounting for SMEs in the UAE

Wio Bank Partners with Xero to Enhance Accounting for SMEs in the UAE
By David Penn Posted on
Categories: Alumni News, Xero
  • Small business management platform Xero has teamed up with UAE-based digital bank Wio Bank PJSC.
  • The partnership will enable Wio Bank’s business customers to access a range of business finance management and accounting solutions.
  • Xero is headquartered in New Zealand. The company made its Finovate debut in 2011.

A newly announced partnership between UAE-based digital bank Wio Bank PJSC and small business management platform Xero will help small and medium-sized businesses in the region streamline and simplify their accounting operations. Wio Bank’s business customers will benefit from ready access to seamless bank feeds, automated reconciliation, and real-time financial insights.

The integration will help businesses working with Wio Bank to leverage automation to reduce error-prone, manual data entry. The technology will also help enhance cash flow visibility thanks to seamless invoice matching. Real-time insights ensure an accurate view of overall financial health, making it easier for business owners to make more informed decisions.

“We’re pleased to work with Xero to bring effortless accounting to UAE businesses,” Wio Bank Chief Commercial Officer Prateek Vahie said. “This integration reflects our commitment to making business banking smarter, faster, and more efficient. By automating financial workflows, we’re giving business owners more time to focus on growth.”

Xero provides small and medium-sized businesses with financial management solutions—including accounting software and invoicing technology that helps them be more efficient. With more than 4.4 million users of its solutions around the world, Xero offers flexible subscription plans for businesses ranging from solopreneurs to established enterprises. Xero’s platform features solutions that facilitate invoicing, payment acceptance, inventory management, payroll, expense management, and more.

“Our integration with Wio Bank is a significant step towards supporting more UAE businesses with better visibility of their finances, helping them spend less time on admin and more time doing what they love, growing their business,” Xero Regional Director EMEA, Colin Timmis said.

Headquartered in Abu Dhabi, United Arab Emirates, Wio Bank PJSC serves individuals with a platform that helps them save, spend, borrow, manage, and invest. The institution also offers Banking-as-a-Service and embedded finance solutions to serve small and medium-sized businesses. Launched in 2022, Wio Bank is backed by shareholders including ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB).

Xero made its Finovate debut in 2011. The New Zealand-based company was founded in 2006. Earlier this summer, Xero announced its acquisition of SMB billpay platform Melio. Already available via the Xero App Store, the Melio platform makes payment workflows easy and flexible, providing a diverse range of payment methods to better serve customers and help vendors get paid faster.

Photo by David Rodrigo on Unsplash

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Casca Raises $29 Million Series A for AI Loan Origination

Casca Raises $29 Million Series A for AI Loan Origination
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Funding
  • Casca has raised a $29 million Series A round led by Canapi Ventures, with participation from major bank customers including Live Oak, Huntington, and Bankwell.
  • Today’s investment comes just 15 months after its pre-seed round and brings Casca’s total funding to $33 million.
  • Casca’s AI-powered loan origination platform helps smaller financial institutions compete with fintechs and large banks by accelerating loan processing, reducing costs, and keeping capital within local communities.

AI loan origination company Casca (formerly known as Cascading AI) announced a $29 million fundraising round today. The California-based company said that the round, which was led by Canapi Ventures, will help it to redefine business lending.

The company’s flagship customers, including Live Oak Bank, Huntington National Bank, and Bankwell Bank all invested in today’s round. Bankwell, Y Combinator, and Peterson Ventures multiplied their investments from the pre-seed raise. Alliance Funding Group participated as well.

“Casca simplifies and accelerates our lending processes while equipping us with the insights needed to build lasting relationships,” said Live Oak Bancshares CEO and chairman Chip Mahan. “The tangible value Casca has demonstrated gives us confidence to invest in their future.”

Today’s round comes just 15 months after Casca’s pre-seed raise and brings its total funding to $33 million. Casca said it will use the investment to scale its operations, expand its team, and accelerate go-to-market efforts and make its platform more accessible to financial institutions.

“Casca stands out in many ways,” said Canapi Ventures Co-Founder and General Partner Neil Underwood. “They’ve worked alongside top AI researchers and within banks themselves to simplify business lending using responsible AI and bank-grade underwriting. With Casca, local financial institutions become the lender of choice—offering more affordable rates and keeping capital within the community. It’s a big step for banking, and we’re proud to be part of it.”

Casca leverages AI to speed up the loan application and origination process. The company was founded in 2023 and its loan origination platform is used by leading SBA lenders and FDIC-Insured banks. At Casca’s first FinovateSpring demo in 2024, it won Best of Show honors. The company most recently demoed its technology at FinovateSpring 2025 where it showed automated document collection that can save loan officers 20 hours a week, AI that reads 10,000 pages in 5 minutes, instant pre-qualification that accepts applications after business hours, digital account opening, and a voice assistant that can intelligently discuss loan files in real-time.

“We’re driven to be a force for good, using technology to make capital more accessible to small businesses and fueling the American Dream,” said Casca CEO and CoFounder Lukas Haffer. “Partnering with the top SBA lenders and key industry players, we’ve built a platform that fully automates commercial loans in record time, setting a new industry standard. This is a game changer, and now we are ready to scale responsibly, reaching more institutions with the white-glove service our clients.”

Today’s raise is a nod to how AI is becoming standard and is now central to how banks win small business relationships. By shaving weeks off loan processing, Casca gives local banks a competitive edge in retaining small business borrowers who might otherwise turn to fintechs or big banks who can offer speed.

Photo by James Wheeler

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