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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Digital payments giant Visa has agreed to acquire fraud and financial crime prevention platform BioCatch for $2.4 billion in cash.
The acquisition will add to Visa’s existing cyber, fraud, risk, and security solutions and provide greater defense against newer threats including account takeover and money mule fraud.
BioCatch was founded in 2011. The company made its Finovate debut at FinovateFall 2014 in New York.
Visa has inked a definitive agreement to acquire behavioral and device intelligence innovator BioCatch. Visa will purchase the company from funds advised by Permira and other shareholders for $2.4 billion in cash. The move will add to Visa’s current array of cyber, fraud, risk, and security solutions and is expected to be especially helpful in managing threats such as account takeovers, scams, money mules, and application fraud.
Subject to customary closing conditions, including receipt of all relevant regulatory approvals, the acquisition is expected to close by the end of Visa’s fiscal Q2 of 2027.
“Real-time insights into customer intent continue to grow increasingly essential for institutions to establish trust within digital banking sessions,” BioCatch CEO Gadi Mazor said. “For more than a decade, we’ve demonstrated behavior’s unique ability to distinguish the criminal from the legitimate. In the last couple of years, we’ve shown how real-time intelligence-sharing networks between our customers can amplify the power of our behavioral intelligence further still. Together with Visa, we’re even better positioned to advance our mission of making the world a safer place to transact and protect consumers from financial crime.”
BioCatch offers AI and machine learning-based solutions that analyze thousands of application, behavioral, device, and network signals such as keystrokes and mouse activity, touch gestures, and device handling. This enables BioCatch’s technology to detect fraud and distinguish between legitimate and fraudulent users in real time. BioCatch’s models provide continuous monitoring to assess user intent and identify signs of potential coercion or manipulation throughout the digital banking session. More than 350 financial institutions around the world leverage BioCatch’s technology to protect 760+ million users from fraud and financial crime.
Visa’s acquisition of BioCatch comes at a time when AI, biometrics, identity, cyber defense, and fraud prevention are converging. To this point, in addition to this week’s transaction, Visa has launched its Visa Vulnerability Agentic Harness solution, an open-source, AI security tool to help customers spot and mitigate vulnerabilities at scale. Visa noted in a statement that, over the last five years, the company has invested more than $13 billion in technology and infrastructure to secure its payments ecosystem and drive fraud rates lower.
“Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale,” Visa’s president of value-added services Andrew Torre said. “BioCatch will help our clients stop fraud before it reaches the point of payment. This acquisition is part of our strategy to help clients prevent cyber threats upstream, building trust into every transaction.”
Founded in 2011 and headquartered in New York, BioCatch made its Finovate debut at FinovateFall 2014. In the years since then, the company has grown into a major financial crime prevention platform analyzing 18 billion user sessions per month and protecting 1.7 billion devices. In 2025 alone, BioCatch assessed more than $17 trillion in transactions and prevented $4 billion in fraud.
August is off to an auspicious start in the fintech world, with news of acquisitions in behavioral biometrics and regtech, and good news for a pair of firms seeking approval to initiate digital asset operations in New York and the UK, respectively. Be sure to swing by Finovate’s Fintech Rundown all week long for the latest updates and fintech headlines!
Wealth management
Asset and wealth management software specialist ZILOlaunches its digital transfer agency platform, integration mutual fund administration with digital asset capabilities.
Payments
London-based financial services provider Teyaunveils new payments card machine.
Robinhoodreceives authorization from the UK’s Financial Conduct Authority (FCA) to offer cryptocurrency services in the country.
Capital markets tokenization platform Licuidoannounces strategic investment from Ripple.
Unlimit Crypto, a division of financial infrastructure company Unlimit, secures a Crypto-Asset Service Provider license from the Cyprus Securities and Exchange Commission.
Regtech
Enterprise financial controls and reconciliation automation company AutoRekacquires UK-based compliance platform Grath.
Credit unions
Appli, maker of AI-powered smart financial calculators, inks partnership with Florida-based Connect Credit Union.
After a thrilling weekend of World Cup matches, fans in the US are readying for this evening’s big contest against Belgium. To help you while away the hours until then, here’s a look at some of the top fintech headlines that are coming across our radar today. Be sure to check back with Finovate’s Fintech Rundown all week long for the latest updates.
Digital banking
Cloud-native core banking and payments platform Thought Machinesurpasses $100 million total revenue milestone.
Digital banking platform for small businesses Bluevineexpands its services to selected foreign-resident owners of US businesses.
Back office
VyStar Credit Union expands partnership with FMSI to advance branch performance strategy.
Agentic AI
BBVAcompletes its first AI agent-initiated transaction on behalf of a cardholder.
The first month of summer is upon us! Whether your plans over the next several weeks include time away in exotic locations or sticking to the grindstone, Finovate’s Fintech Rundown is here with the fintech news you need to know. Be sure to check back all week long for the latest updates!
Lending
FinastralaunchesData Insights 2.0, an analytics solution that helps lenders transform complex data into actionable insights.
Baker Hilllaunches one-click loan participation exchange with Participate to help financial institutions scale commercial lending.
Experianbrings personal loan shopping to ChatGPT with new AI-powered experience.
Cross Riverextends $250 million forward-flow commitment for Figure’s crypto-backed loans.
Liliembeds business credit solutions to help small businesses access capital faster.
Embedded finance
Embedded payments and financing solutions provider Adyenteams up with venue management platform ROLLER.
Germany embedded finance fintech Rivertysecures regulatory approval for a Luxembourg banking license and plans to initiate operations in July 2026.
Jack Henrypartners with Woodforest National, a $9 billion, multi-state bank based in The Woodlands, Texas.
Brazil’s Nubankintroduces new offering for customers between 16 and 18 years old called NuCel that combines 5G mobile connectivity with a savings feature.
Payments
European Pay by Bank network TrueLayeracquires Dutch consumer payments company In3.
Modern card platform Highnote unveiled its new Agentic Commerce capabilities this week.
Built using Visa Intelligent Commerce, Highnote’s Agentic Commerce will allow businesses to power AI-initiated payments that feature programmable controls, tokenized credentials, and dynamic authorization.
Headquartered in San Francisco, Highnote made its Finovate debut at FinovateSpring 2022.
Courtesy of a partnership with Visa, Highnote—a modern issuing, acquiring, credit, ledger, and money movement platform—has launched its new Agentic Commerce capabilities this week. Built using Visa Intelligent Commerce, the new offering will enable businesses to securely power AI-initiated payments with programmable controls, tokenized credentials, and dynamic authorization.
The new Agentic Commerce capabilities will allow companies to add payment capabilities to AI agents while enabling software to initiate and execute transactions with predefined rules, spend controls, and approval structures. In a statement announcing the launch, Highnote listed invoice and accounts payable automation, vendor payments, operational spend management, and AI-assisted procurement as some of the initial use cases for the new solution.
“AI is quickly moving from insight to action,” Highnote CEO John MacIlwaine said. “Businesses want AI to do more than recommend or analyze. They want it to initiate and execute real financial workflows. The challenge is making those transactions secure, controlled, and operational at scale. That’s exactly what Highnote is built to do.”
Agentic commerce enables software to participate directly in purchasing and payment decisions based on preset authorization rules. The new capabilities give firms a structured framework for enabling AI-driven transactions with real-time visibility and decisioning across the payment lifecycle. Highnote’s Agentic Commerce offering will also support emerging financial operations powered by AI, such as intelligent procurement, dynamic payment routing, supplier optimization, recurring operational spend, and industry-specific autonomous payment experiences.
“Agentic commerce is already changing how businesses operate,” said Visa VP and Head of Agentic CMS Ivy Lee. “Through Visa Intelligent Commerce, we’re enabling B2B workflows where agents can initiate and complete transactions at scale. Visa provides the underlying infrastructure that makes this possible—handling the complexity so businesses and developers can focus on building differentiated experiences, not payments.”
Headquartered in San Francisco, California, Highnote made its Finovate debut at FinovateSpring 2022. At the conference, the company demonstrated how its modern card platform with a GraphQL-based API enables businesses to make card issuance an embedded capability. The demo also featured the developer experience and financial operations interface that provides control of the payment transaction lifecycle and access to transaction processing data.
Named to the Forbes Fintech 50 for a second consecutive year, Highnote last month unveiled expanded commercial card issuing capabilities for online travel agencies (OTAs), marketplaces, and travel platforms. The new offering enables these platforms to run on Highnote’s commercial card issuing platform, using virtual card programs that are purpose-built for the challenges of travel supplier payments. Highnote’s solution combines issuing, controls, ledger, and reconciliation into a single system in order to deliver faster reconciliation, bolster supplier relationships, and improve unit economics on every transaction.
The first quarter of 2026 comes to a close tomorrow. And amid the rush of end-of-month, end-of-quarter news, don’t forget that April Fool’s Day, April 1st, is right in the middle of the week.
Every year there are a handful of fintechs that like to take advantage of the occasion by having a little fun with the press, so it’s always a good idea of have a bit of extra skepticism if you come across a headline that seems a little sensational over the next few days. Here on the Fintech Rundown, we promise to do our level best to keep you fool-free!
Digital banking
Metro Credit Union to deployTyfone’snFinia Digital Banking Platform.
Corgi Insuranceacquires Corgi.com domain en route to building its fully-integrated, AI-powered insurance carrier.
Digital communications
AI-powered digital communications governance and archiving technology partner Shieldunveils new enhancements to its Shield Archive solution.
Lending
Worth, a fintech platform that helps financial institutions onboard and undewrite small and medium-sized businesses, raises $30 million in Series A funding.
Spring has sprung, March Madness is in the air, and the fintech headlines are filled with new payment solutions to enhance face-to-face commerce, new developments in the tokenized asset space, and a range of announcements on agentic AI including new tools, new partnerships, and new deployments.
Be sure to check back with Finovate’s Fintech Rundown all week long for the latest in fintech news!
Payments technology company Splititunveils its Splitit Go mobile and API-based solution that brings card-linked installment payment options to in-person commerce.
Fraud prevention and identity verification
Digital identity and compliance platform ComplyCubeunveils its expanded fraud intelligence suite.
Finix and Plaid team up to enhance bank verification and streamline money movement.
Australian fintech Vivi Moneychooses Pismo’s infrastructure to launch new AI-native financial solution on Visa’s global payment network.
Constant AI, an agentic AI firm that specialists in lending operations for credit unions, launches AI Skip-A-Pay agent, Nia.
AI platform Go AbacusunveilsThe Go1, an on-prem AI hardware solution to give banks data sovereignty. Catch Go Abacus in its Finovate debut at FinovateSpring 2026 in San Diego.
Insurtech
AI assistant for financial advisors, Zocks, introduces its new AI assistant for life insurance. See Zocks make its Finovate debut at FinovateSpring 2026 in San Diego, May 5-7.
DeFi
Q2partners with digital asset platform Stablecore to enable banks and credit unions to offer stablecoins, tokenized deposits, and other digital asset products.
TAPP Engine and KoreInside team up to bring financial stablecoins to private capital markets.
With St. Patrick’s Day at the beginning of the week and the first day of spring at the end, it feels as if we are truly leaving winter behind us. Cacti are blooming here in the desert southwest and the fintech news —from new offerings in wealth management to the latest innovations in agentic AI—is flowing. Be sure to check back here at Finovate’s Fintech Rundown all week long for updates.
Digital banking
BankDhofarlaunchesNeo Corporate Internet Banking (Neo CIB), its next-generation digital banking platform.
DNERO, a neobank that caters to Latino customers, readies for a March 24 launch.
Digital asset wealth management platform Abraannounces plans to go public via SPAC merger with New Providence Acquisition Corp at a valuation of $750 million.
Sokinlaunches stablecoin capabilities to provide hybrid finance platform unifying digital assets and fiat.
Agentic AI
Lithuanian fintech Chaseit.aiintroduces AI agents to automate loan servicing and call center communications.
Integrated financial management platform for freelancers and gig economy workers, Finom, launches its embedded interest account.
Iwocaintroduces free financial health resources, including its Credit Compass, for small businesses in the UK.
Lending and Credit
Experian launches its AI-powered Experian Virtual Assistant (EVA) to deliver real-time, personalized financial insights and recommendations on financial products such as credit cards, loans, and insurance.
Ocrolusaccelerates automated conditioning for mortgage lenders with full lifecycle management.
Back end technology
FMSI and Applipartner to help credit union branches drive member revenue.
This week’s edition of Finovate Global focuses on fintech developments in countries located in and around East Africa.
Digital banking secures investment in Zambia
Zambian digital banking platform Lupiya has raised $11.25 million in Series A funding. The round—nearly two years in the making—was led by IDF Capital’s Alitheia IDF Fund, and featured participation from INOKS Capital and KfW DEG, a German development finance institution. Lupiya will use the capital to bolster the digital bank’s technology infrastructure, grow its product range, and enter southern and east African markets beyond Zambia’s borders.
Founded by Evelyn Chilomo Kaingu (CEO) and Muchu Kaingu (CTO) in 2016, Lupiya serves unbanked and underbanked communities in Zambia with credit products and digital payment services via its Lupiya Pay offering. The company has partnered with Mastercard to access payment rails to enable digital transactions and is part of the card network’s financial inclusion strategy. Previous investors in the firm include Enygma Ventures, which contributed $1 million to the company’s coffers. Lupiya has opened an additional funding round this year—alongside its Series A—dedicated to scaling its lending business, enhancing its embedded finance offerings, and bringing Lupiya Pay to new markets.
Lupiya was one of the first companies to earn approval from the Security Exchange Commission in Zambia to offer investments through peer-to-peer lending. Launching this service in-country in 2022, Lupiya expanded operations to Tanzania the following year. Lupiya offers personal loans including collateral-backed loans and salary advances, as well as business financing, invoice discounting, and agriloans. Customers can use Lupiya to send and receive funds via mobile money, P2P, or bank accounts.
According to the World Bank, Zambia’s financial inclusion rate has improved significantly in recent years, climbing from 59.3% in 2015 to 69.4% in 2020. Regional disparities are significant, however, with Lusaka Province, home to the capital city, Lusaka, having a financial inclusion rate of more than 87%, with more rural areas having inclusion rates of approximately 40%. The landlocked country shares borders with the Democratic Republic of Congo, Angola, Zimbabwe, Mozambique, Malawi, and Tanzania.
Ethiopia goes live with instant payments
Instant payments are sweeping the globe—and now businesses, communities, and banks throughout Ethiopia will be able to leverage the technology to provide centralized automated reconciliation, new card and e-wallet services, and more.
In partnership with the National Bank of Ethiopia, the country’s national switch EthSwitch has launched Ethiopia’s National Instant Payment System. Powered by BPC’s SmartVista platform, the system was officially introduced in December 2025, and now connects 32 banks, 12 MFIs, three PSOs, and three PIIs. The unveiling of EthioPay-IPS will enable EthSwitch to offer banks and other financial institutions modern payment rails capable of delivering faster and more economical payment transactions. These include account-to-account and wallet-to-wallet transfers, payments with interoperable QR codes, as well as requests-to-pay and alias-based payments that allow users to transfer funds using a simple identifier.
BPC’s SmartVista suite is a modular payment processing solution for banks, financial institutions, payment service providers, and fintechs. The technology combines banking, commerce, and mobility platforms to facilitate digital banking, payment processing, ATM and switching, fraud management, financial inclusion, and more. Founded in 1996 and headquartered in Switzerland, BPC has more than 500 customers across 140 countries.
Established in 2011, EthSwitch is a share company owned by Ethiopia’s private and public banks, as well as the National Bank of Ethiopia, MFIs, PIIs, and PSOs. The organization has a mandate to support the modernization of Ethiopia’s payment system and to enhance financial inclusion throughout the country. This includes EthSwitch’s 2016 initiative to enable the interoperability of ATMs and POS terminals operated by the nation’s banks.
“Our goal is to provide simple, affordable, secure, and efficient digital payment infrastructure to every retail payment provider and through them, to every Ethiopian,” EthSwitch Chief Portfolio Officer Abeneazer Wondwossen said. “With SmartVista, we have built an interoperable nationwide ecosystem for instant payments that is locally governed, future-ready, and open to innovation. This launch is a point of pride for Ethiopia and a milestone for our financial sector.”
Kayko Raises $1.2 million to help SMEs in Rwanda
Kayko, which offers a small business financial management platform for companies in Rwanda, has secured $1.2 million in seed funding. Participating in the investment were Burrow Capital, the Luxembourg Development Agency, and Hanga Ignite by BRD and develoPPP Ventures. The company, founded in 2021 by brothers Crepin and Kevin Kayisire, will use the capital to fortify its infrastructure, expand its data capabilities, and build credit scoring and lending tools based on real transaction data.
Kayko serves more than 8,500 Rwandan SMEs with bookkeeping, inventory, and tax support. The fintech helps boost SME access to credit in a country in which many businesses have incomplete or informal financial records that make it difficult to secure financing or to scale operations. For these and other small businesses, Kayko provides a point-of-sale and business management system that helps them process sales, track expenses, and accept payments, while turning everyday business activity into structured financial data for analysis and insights.
Kayko’s funding news coincides with the Kigali-based fintech securing an Electronic Money Issuer (EMI) license from the National Bank of Rwanda (NBR). “With this license, we move from planning to execution,” Crepin Kayisire said in a statement on the company’s LinkedIn page. “We can now operate regulated payments, merchant wallets, and data-driven financial services that improve access to financing for small businesses.”
Here is our look at fintech innovation around the world.
Sub-Saharan Africa
South African crypto platform Luno introduced crypto and tokenized stock bundle.
Blockchain infrastructure provider Binance and African mobile network operator Africell announced a collaboration to boost blockchain education and digital asset literacy across Africa.
Ethiopia’s national switch, EthSwitch, launched the country’s National Instant Payment System, in partnership with the National Bank of Ethiopia and powered by BPC’s SmartVista platform.
Central and Eastern Europe
The Bank of Lithuania supplemented the electronic money institution (EMI) license for TransferGo Lithuania, enabling the fintech to expand beyond money transfers and payment account services.
Open banking solutions provider Salt Edge and financial management platform NoCFO teamed up to bring Pay by Bank to SMEs in Germany and Finland.
US-founded banking and investment platform Fasset announced plans to enter the Pakistan market via a partnership with Habib Rafiq Limited (HRL).
Latin America and the Caribbean
Uruguayan fintech dLocal partnered with online English-language platform Open English to introduce a new payment method, Bre-B, for students in Colombia
Visainked a deal to acquire Argentinian payment companies Prisma Medios de Pago and Newpay from private equity firm Advent International.
Peru’s Banco de la Microempresa selectedTemenos SaaS to modernize its core banking infrastructure.
We’re fresh off an outstanding FinovateEurope conference in London (meet our Best of Show winners!) and already gearing up for our Spring event in San Diego. In the meanwhile, here’s a look at some of the fintech headlines that have crossed the wire in recent days. Be sure to check back here at the Fintech Rundown all week long for updates!
Digital banking
Oklahoma-based Blue Sky Bank partners with Jack Henry, deploying the fintech’s Banno Digital Platform along with other integrated solutions.
UK-based embedded insurance company Wriskacquired real-time financial intelligence platform Atto to build an integrated embedded finance platform.
DeFi
Payoneerteams up with stablecoin infrastructure platform and Stripe company Bridge to support its launch of new embedded stablecoin capabilities.
Netherlands-based paytech and stablecoin issuer Quantozteams up with Visa, enabling the firm to issue irtual Visa debit cards as serve as a BIN-sponsor for third-party fintechs and platforms.
Welcome to Finovate’s final Fintech Rundown of 2025! DeFi and crypto have dominated the fintech news in recent weeks, with some companies in the space launching stablecoins and stablecoin-related services, while others announce expansion into new markets. We will update this post over the next several days to keep you informed on the final big headlines of the year.
Visa has launched USDC stablecoin settlement in the US, enabling issuers and acquirers to settle transactions in Circle’s dollar-denominated stablecoin using blockchain infrastructure.
Cross River Bank and Lead Bank are piloting the capability to deliver faster, always-on settlement and improved treasury efficiency while remaining compatible with existing payment rails.
The move signals stablecoins’ shift from experimentation to bank-ready infrastructure.
Visaunveiled today that it has launched stablecoin settlement in the United States. The payments giant is partnering with Circle’s USDC dollar-denominated stablecoin to enable US issuers and acquirers to settle with Visa in USDC.
USDC settlement relies on blockchains to offer issuers faster money movement and seven‑day settlement windows that will improve both speed and liquidity, modernized treasury management with automated treasury operations, and interoperability between traditional payment rails and blockchain-based payments.
“Visa is expanding stablecoin settlement because our banking partners are not only asking about it— they’re preparing to use it,” said Visa’s Global Head of Growth Products and Strategic Partnerships Rubail Birwadker. “Financial institutions are looking for faster, programmable settlement options that integrate seamlessly with their existing treasury operations. By bringing USDC settlement to the US, Visa is delivering a reliable, bank‑ready capability that improves treasury efficiency while maintaining the security, compliance, and resiliency standards our network requires.”
Piloting the launch are Cross River Bank and Lead Bank, which are leveraging the Solana blockchain to settle with Visa in USDC. Visa is planning broader availability in the US in 2026. Cross River Bank, a leading infrastructure provider that offers embedded financial solutions, reinforces the importance of true interoperability. “Fintech and crypto innovators increasingly ask us to bring stablecoins into their existing product suite,” said Gilles Gade, Founder, President and CEO of Cross River. “A unified platform that natively supports both stablecoins and traditional payment networks is the foundation for how value will move globally. As one of the first US banks to enable USDC settlement with Visa, we’re demonstrating how a tech-forward, deeply integrated banking partner can connect blockchain networks and legacy systems at scale.”
Today’s announcement comes the same week that Visa Consulting & Analytics launched its Stablecoins Advisory Practice to offer education and guidance on market fit and implementation. VyStar Credit Union and Pathward are early participants in the program, which they will use to find new opportunities in the $250 billion stablecoin market.
Visa, which became one of the first major payment networks to settle in stablecoins in 2023, has been positioning itself at the forefront of the stablecoin revolution. Last month, the company’s monthly stablecoin settlement volume passed a $3.5 billion annualized run rate threashold.
Visa’s move to bring USDC settlement to the US shows that the early momentum in stablecoin activity this year is set to continue into next year as the payment rail moves from experimental to a bank-ready settlement tool. By embedding stablecoin settlement directly into its network, Visa is making programmable, always-on settlement a practical option for traditional banks seeking to improve liquidity management, shorten settlement cycles, and bridge existing payment rails with blockchain infrastructure.
