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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Over the weekend we learned that fintech investment in the UK reached $7.2 billion in the first half of 2025. That figure is down slightly from last year’s total of $7.6 billion, according to KPMG’s Pulse of Fintech report. Meanwhile, here in the US, President Trump has signed an executive order enabling investors to buy alternative assets, including cryptocurrencies, for their 401(k) retirement savings plans.
Be sure to check back for more fintech news headlines all week long here at Finovate’s Fintech Rundown!
Digital banking
New Zealand-based Co-operative Bank partners with 10x Banking for core replacement.
The dust is still settling in the wake of Circle’s “buzzy IPO” in the words of MarketWatch. We’ll see if the fintech headlines can keep up this week!
Digital banking
KAF Digital Bank goes live with Temenos SaaS to bring Islamic digital banking services to customers in Malaysia.
ABN AMRO’s payment app Tikkie has developed a full-service bank, BUUT, that caters to younger customers.
Digital bank N26unveils an updated version of its premium subscription, N26 Go.
Open banking solutions provider Salt Edgepartners with digital banking experience platform Plumery.
Farsightraises $16 million in funding, announces Series A to automate financial workflows and decision-making.
Fraud prevention and identity verification
FrankieOne launches new risk and compliance platform that offers fraud detection and identity verification.
Cybercrime consultancy We Fight Fraud partners with Salv to facilitate intelligence sharing between financial institutions in Europe.
Regtech iDenfyteams up with international hosting provider SpaceCore to bring optimized customer verification to global hosting.
The Bank of International Settlements (BIS) and the Bank of England (BoE) collaborate on testing to see if AI can spot fraudulent activity in retail payments data.
AML and CFT solutions provider AMLYZEonboards Advanzia Bank as part of its European expansion.
Veleraadds real-time account validation functionality to digital channels.
Legislation in California moves forward to give the state authority to seize unclaimed cryptocurrency assets held on exchanges after three years of inactivity.
This week marks Eid al-Fitr, the festival celebrating the end of Ramadan and the breaking of a month-long fast. Similarly, the close of this quarter feels like fintech is breaking its own fast, with Klarna filing its IPO prospectus, Rocket Companies announcing major acquisitions of Mr. Cooper and Redfin, and regulatory frameworks beginning to ease in the U.S. As we enter into the second quarter, here’s a look at this week’s fintech news as we leave the time of fasting behind. We’ll continue adding news to this post throughout the week, so stay tuned!
Finastra‘s cloud-based loan document preparation system LaserProunveils enhanced features and sees further adoption by community-based financial institutions.
Business financial management
Tesoriolaunches AI agent that autonomously manages portal-based invoicing.
Enterprise spend management platform Mendelcloses $35 million Series B round led by Base10 Partners with participation from PayPal Ventures.
New leadership for digital banking solutions provider nCino and the fallout from the recent ouster of CFPB director Rohit Chopra are among the major fintech headlines as the first full week of February begins.
Be sure to check back here at the Fintech Rundown all week long for the latest updates and announcement in fintech!
Digital banking
nCinointroduces new President and Chief Executive Officer Sean Desmond.
Uphold, an infrastructure provider for on-chain payments, banking, and investments resumes staking services for its UK customers who hold cryptocurrencies.
Property data innovator Chimney announced a new collaboration with digital banking solutions provider Jack Henry.
The collaboration will make Chimney’s product suite available on Jack Henry’s digital banking platform.
Chimney won Best of Show at FinovateFall 2023 in New York. Previously known as Signal Intent, the company also won Best of Show at our online FinovateSpring conference in 2021.
A collaboration between property data innovator Chimney and Jack Henry will help financial institutions empower their homeowners with actionable advice about their home value, home equity, borrowing power, and more. That’s because Chimney has made its product suite, including its latest offering Chimney Home, available via Jack Henry’s digital banking platform.
Chimney’s embedded financial tools enable banks and other financial institutions to engage more account holders digitally, generate more deposits, and fund more loans by leveraging intelligent recommendations to guide customers to the products that are most appropriate for them. Chimney Home, the company’s latest product, gives homeowners actionable information about the value of their home, potential borrowing power, and the availability of pre-qualified offers — all embedded within the bank’s digital channels.
“For many years, financial institutions have lacked the resources needed to personalize product recommendations for homeowners,” Chimney Co-Founder and CEO Matthew Covi said. “At the same time, getting approved for a home equity loan is a big feat, sometimes taking months and causing frustrations for many consumers. That’s why we created Chimney Home.”
Among the financial institutions currently using Chimney’s tools via Jack Henry’s digital banking platform is Financial Plus Credit Union. The technology will help the institution better serve members who are homeowners with the data they need to maximize their home’s value and equity. Chimney’s offering also replaces the credit union’s previous, more cumbersome cross-departmental strategy in favor of an omni-channel approach that makes access easier for homeowners and the process more efficient for the credit union’s mortgage services team.
“By combining financial health data and blending it with a homeowner’s property data, we’re empowering financial institutions to make more personalized loan recommendations in the fiercely competitive home equity space and allow account holders to take action on those recommendations right within their digital banking app,” Covi said.
Jack Henry first demoed its technology on the Finovate stage at FinovateFall 2010. Today, the Monett, Missouri-based company provides banks and credit unions with an ecosystem of modern technology solutions developed internally as well as the ability to integrate with leading fintechs. Founded in 1976, Jack Henry is a publicly traded company on the NASDAQ under the ticker JKHY. The company has a market capitalization of $13 billion.
Jack Henry is teaming up with payments platform Moov to offer enhanced payment services to SMEs.
The services will include the ability to accept payments with the tap of a phone, automate reconciliations to accounting software systems, and more.
The companies will begin beta testing the new payment services by mid-2025.
A newly announced collaboration between Jack Henry and digital payments processor Moov will empower regional and community financial institutions to offer enhanced payment services to their SME customers. These services will give SMEs a range of payment capabilities, from accepting payments with the tap of a phone to receiving same-day funds for payments accepted, to automating reconciliations to accounting software systems.
“This innovation is made possible by our technology modernization strategy to offer community and regional financial institutions cloud-native, API-first services that allow them to differentiate strategically, compete successfully, and meet the evolving needs of their customers,” Jack Henry President and CEO Greg Adelson said. “We are pleased to collaborate with Moov on this unique solution that will provide modern, innovative business payment capabilities to our clients that are seamlessly integrated with deposit and core banking services.”
The Jack Henry/Moov collaboration comes at a time when an increasing number of regional and community banks, as well as credit unions, are seeking ways to better serve their small business customers. A 2024 Jack Henry survey revealed that 78% of its clients expect to grow their small business capabilities over the next two years. Unsurprisingly, almost seven out of 10 respondents highlighted payments as the SME service they are most eager to introduce to their customers.
Smaller financial institutions do have their work cut out for them. According to a 2023 Datos Insights survey, 56% of small businesses do their banking with one of the four largest banks. Only 18% bank at a smaller financial institution. As such, solutions like those from the Jack Henry/Moov collaboration could go a long way toward helping regional and community banks, and credit unions better compete with their larger rivals.
“This solution will provide many benefits to SMBs, including one-click enrollment, automated itemized transaction processing and reconciliation, instant balance transfers from linked accounts to cover same-day transaction needs, and an integrated payment relationship with the financial institution,” Moov CEO and Co-founder Wade Arnold said.
Beta testing of the new payment services is expected to begin by mid-2025.
Cedar Falls, Iowa-based Moov offers a money movement platform that provides a straightforward and scalable way to integrate payments into products. As a payment processor, issuer, registered PayFac, program manager, and technology provider, Moov serves as a one-stop payment solution for businesses with complex money movement needs. Named to The Tech Tribune’s 2024 Best Tech Startups in Iowa roster, Moov was founded in 2018.
Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has been a Finovate alum since its debut at FinovateFall in 2010. Today, the company is a major technology solution provider for banks and credit unions, offering its own internally developed capabilities as well as facilitating integrations with leading fintech innovators.
Jack Henry is a publicly-traded company on the NASDAQ under the ticker JKHY. The firm has a market capitalization of $12 billion.
As “Back to School” season begins, we’re looking forward to a surge of fintech news over the next few days and weeks. Finovate’s Fintech Rundown is your one-stop-shop for the latest headlines, announcements, and updates.
Payments
ACI Worldwidepartners with Red Hat to make its Enterprise Payments Platform available on any cloud infrastructure.
Atlantic MoneylaunchesPortals to enable customers to make international money transfers directly from their bank accounts.
Payment service provider Ecommpay adds three Italian Alternative Payment Methods (APMs) to its platform as part of an effort to expand its global presence.
ASAannounces the integration of five fintechs–PortfolioPilot, Guac, One Goal Finance, Credit Rent Boost, and Column Tax–into its embedded app store, ASA Vault.
Embedded payments specialist Modulrexpands its integration with online accounting software provider Xero to add payroll services.
Open banking
Comertbank choosesSalt Edge to comply with Moldova’s open banking legislation.
Wealth management and investing
Legal & General choosesMoneyhub to power its Qualifying Pensions Dashboard Service.
Papaya Globalfacilitates changing cross-border payroll, helping companies streamline their global payroll processes in every location in just four weeks.
Real estate
AgoralaunchesReport Builder and Waterfall Automation Tool.
Partnerships in digital banking, identity management, and payments lead off the fintech news headlines as July begins in earnest. Be sure to check back all week long for updates and fresh announcements on the latest industry happenings.
Payments infrastructure solution for software companies Payablisecures $20 million in Series A funding.
Instant payments solutions company Zimplerannounced a new technical partnership with Swedish payments app, Swish.
Lending
ClearScoresecures $4.4 million (£3.4 million) in funding from Fair4All Finance to develop debt consolidation loan technology for the financially vulnerable.
Ireland’s CreditLogicraises $3.8 million (EUR 3.5 million) from Riverside Acceleration Capital (RAC).
Crypto / DeFi / Web3
Crypto payments company Kulipapartners with cryptocurrency wallet provider Argent and Mastercard to launch its new crypto-based payment card.
MoonPay and Meshink an exclusive partnership to ease the process of depositing and transferring crypto from exchanges.
Swiss layer-1 blockchain Shardeumpartners with Web3 security services platform Immunefi to launch bug bounty program.
Fraud and identity management
Fraud prevention specialist GBGunveils its KYB solution, GBG Detected.
Germany’s IDnow unveils a pair of new e-signature solutions, InstantSign and eID eSign.
NatWest partners with digital identity identity solutions provider OneID.
iDenfy and UAE-based SIMPal forge strategic partnership to enhance security in the telecom industry.
Insurtech
AutoRekpartners with JP Morgan Payments to enhance premium processing for insurance companies.
Digital banking
U.K.-based digital bank and BaaS platform Griffinreceives B Corp certification.
First Federal Bank of Kansas turns to Jack Henry for its hosted core processing solution.
Investment and innovation are defining the wealth management space as the week begins. LA-based wealth management platform Altruist enters the week with $169 million more in capital, courtesy of a Series E round led by Iconiq Growth. Meanwhile, JP Morgan Chase announced that it has deployed generative AI to enhance its thematic investment offering.
Be sure to check back all week long for more fintech news!
Crypto
Revolutlaunches its stand-alone crypto exchange for professional crypto traders, Revolut X.
KeyBanklaunchesKeyVAM, a virtual account management solution powered by Qolo for treasury management clients who have complex demand deposit account structures.
Regtech
Global RegTech consolidator Corlyticsacquires Deloitte UK’s RegTech platform.
Embedded finance
Issuer-processor Paymentologyteams up with Diamond Trust Bank to bring embedded finace solutions to customers in Kenya.
Accelerators and incubators
Ally Financiallaunches its Ally Innovation Challenge to promote solutions leveraging Responsible AI.
This week brings May Day, a day to celebrate the halfway point between spring and summer, and in the world of fintech, there are also exciting developments to mark the start of a new month. Check back for real-time updates on how the fintech landscape evolves this week.
UniWyo Credit Union tapsJack Henry to help with merger with Reliant Federal Credit Union.
Digital Banking
Core banking platform provider Finxact and SaaS core modernization and transformation solution provider for banks Zafinannounced a new collaboration.
Expense Management
Financial management superapp for expenses and corporate cards Expensifyunveils its New Expensify platform geared toward the global self-employed market.
Payments
Fintech infrastructure solution for branded customer wallets, Ansa, secures $14 million in Series A funding.
TreviPayunveils new self-financing option and enhanced payment application features for B2B net terms program.
Stripedecouples payments from the rest of its products stack.
Till Financialpartners with EF Educational Tours and EF Explore America to facilitate cashless payments for traveling students.
Anti-fraud and financial crime software company Feedzaiintroduces new Chief Financial Officer David Larson.
Featurespacejoins The Knoble, an alliance of financial service professionals, law enforcement, regulators, and NGOs committed to fighting financial crime.
This week’s Fintech Rundown features partnership and expansion news from a handful of Finovate alums, as well as some interesting fundings in the cryptocurrency and charitable giving space.
Jack Henry has launched its cloud-native business banking solution, Banno Business.
The new solution will help community and regional banks bring modern banking solutions to small and medium-sized businesses.
A Finovate alum since 2010, Jack Henry was founded in 1976.
Jack Henryunveiled its cloud-native business banking solution, Banno Business, last week. The new offering enables community and regional financial institutions to bring the innovations of modern banking to SMEs.
“Banno Business centralizes the business banking capabilities and partnerships we’ve created over the years into a single platform,” Jack Henry Managing Director of Digital Solutions Julie Morlan said. “We’ve built our platform to be highly configurable and scalable, enabling banks and credit unions to compete across the business spectrum. With Banno Business, financial institutions can expand and monetize their market share – a $370 billion revenue opportunity – while making a continued impact in their communities.”
Banno Business combines business solutions – such as cash management and commercial lending – with embedded payment capabilities, cash flow tools, reporting, and other features to help business owners better manage their finances. SMEs can also link external accounts to their financial institution via an integration with Finicity (a Mastercard company). Banno Business empowers regional and community financial institutions to leverage their relationships with and knowledge of their local businesses and business owners.
Institutions like High Plains Bank of Colorado are using Banno Business to attract more small and medium-sized businesses as customers, while at the same time helping local businesses improve their finances. The bank’s Chief Experience Officer Brian Otteman praised the ease with which business owners can “manage permissions for their employees, simplify their money movement, and understand their cashflow.” Freedom First Credit Union, a community-based financial institution headquartered in Virginia, is leveraging Banno Business to ingratiate itself to the local business community. “Having a full business solution with the digital user experience that our members know and trust makes for an easy transition to new markets,” Freedom First CU President and CEO Paul Phillips said. “Banno Business positions us to mature existing member relationships and grow net new business; it’s a win for our deposit acquisition strategy and diversifies our portfolio.”
Headquartered in Monett, Missouri, and founded in 1976, Jack Henry made its Finovate debut at Finovate 2010 in New York. The company returned to the Finovate stage four years later at FinovateEurope in London. A leading fintech and solution provider for financial institutions, Jack Henry empowers banks and credit unions to attract commercial accountholders, grow revenues, improve efficiency, and bolster the financial health and banking experience of their customers and members. Jack Henry has approximately 7,500 clients, and more than 10.5 million registered users of its Banno retail platform, which supports the company’s Banno Business offering.
Jack Henry is a publicly traded company on the NASDAQ exchange under the ticker JKHY. The firm has a market capitalization of $12 billion. Last week, Jack Henry announced that CEO and Board Chair David Foss will transition to a new role as Executive Board Chair at the end of June. The company will name current President and Chief Operating Officer Greg Adelson as CEO and President on the first of July.
