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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Spreedly and Trustly have partnered to offer Spreedly’s merchant clients pay-by-bank capabilities through its Open Payments platform.
Adding the new payment option will help merchants enhance payment flexibility, conversion rates, and consumer insights.
Pay-by-bank adoption is growing in 2025 due to lower fees and faster settlement times for merchants. To encourage its use, some merchants offer monetary incentives at checkout.
Open payments platform Spreedly has teamed up with pay-by-bank expert Trustly this week. The two are collaborating to offer Spreedly’s merchant clients access to Trustly’s pay-by-bank capabilities.
Under the partnership, Trustly will take charge of the pay-by-bank tools in Spreedly’s Open Payments platform. Spreedly anticipates that merchants who use the new pay-by-bank tools will see improved conversion rates without having to overhaul their existing payments infrastructure. The company also envisions that the new capabilities will empower merchants with more payment flexibility and further insight into consumer habits.
“Our collaboration with Spreedly represents a significant step towards a unified payments experience becoming the industry standard,” said Trustly VP of Enterprise Growth Ross McFerrin. “By integrating Trustly’s pay-by-bank offerings with Spreedly’s orchestration platform, we’re providing merchants an all-in-one solution that allows them to choose the best payment methods to offer their customers while simplifying the complexity of payment integrations.”
Sweden-based Trustly’s pay-by-bank network currently processes over $42 billion in transaction volume each year. The company offers Trustly Pay for open banking payments and Trustly Payouts for payouts. It also provides open data tools like Trustly Connect for data retrieval, Trustly ID for identity verification, and Trustly Insights for real-time underwriting decisions. In 2018, Nordic Capital bought Trustly for an undisclosed amount, and since then, Trustly has acquired three companies of its own, including SlimPay, Ecospend, and PayWithMyBank. The company anticipates that partnering with North Carolina-based Spreedly will increase its market reach in the U.S.
Spreedly was founded in 2007 to help merchants build their payments stack on a single platform. The company’s payment orchestration stack offers merchants more than 140 gateway connections of more than 40 payment methods. Spreedly also offers fraud prevention, payment optimization tools, and more.
“Spreedly has long demonstrated its ability to securely vault and orchestrate payments across card networks, and by partnering with Trustly, we are excited to extend these benefits by embedding pay-by-bank flows directly into our Open Payments platform,” said Spreedly VP of Global Partnerships and Business Development Rose Francois. “Together, we’ll enhance payment flexibility and security, empowering merchants to meet the growing demand for efficient, data-driven payment solutions, while driving stronger outcomes for the broader payments ecosystem.”
Pay-by-bank has been cited by analysts as one of the top trends to watch in 2025 as consumer and merchant adoption continues to grow. Merchants often favor pay-by-bank because of the lower fees and faster settlement times. And while consumers may be hesitant to ditch their credit cards in favor of pay-by-bank, some merchants offer a monetary incentive at the point of purchase to promote using pay-by-bank.
This week’s edition of Finovate Global looks at recent fintech news and headlines from Australia.
Digital private equity manager Moonfare goes live in Australia
Eligible investors in Australia stand to benefit from the arrival of digital private equity investing platform Moonfare. The Berlin-based company announced that it is bringing its wealth management technology to what is now its 23rd country. Moonfare Asia Pacific head Adam Banks, who joined Moonfare in October, noted that the firm’s APAC investor relations team is already “in active discussions with potential clients” in Australia.
Founded in 2016, Moonfare enables eligible investors to access a selection of curated funds from managers such as KKR, EQT, and the Carlyle Group. The company’s proprietary portfolio investments provide diversification and low minimums across a range of strategies, including buyout, growth equity, venture, and infrastructure. Investors on the platform can also participate in secondaries, private credit, and co-investments.
“There is clearly a growing appetite for private equity investing in Australia,” Moonfare Founder and Co-CEO Steffen Pauls said. “But so far access has been limited, especially for people wanting exposure to non-domestic managers and strategies. Moonfare’s digital private equity platform plans to fill that gap by providing seamless access to globally leading top-quartile managers.”
Moonfare boasts more than €3.3 billion ($3.4 billion) in assets under management and access to more than 110 funds. The company began the year with the appointment of Heike Hövekamp as Chief Legal & Compliance Officer. Hövekamp joins Moonfare from Société Générale, where she was Head of Compliance.
Australian regtech Nuj raises $4 million in seed funding
Is there any debate that 2025 is shaping up to be the year of regtech? The fact that regtech increasingly seems to provide fertile ground for new fintech startups may be yet another indication of the growing importance of this subsector.
Australia’s Nuj is another fintech startup that is taking advantage of interest in regtech. The company announced that it has raised $4 million in equity and debt financing to develop its superannuation data platform. A superannuation is Australia’s pension program, created to benefit of employees. They are similar in many respects to an individual retirement account (IRA) or a 401(k) in the US.
Mimecast Co-Founder Peter Bauer led a $2 million seed round as part of an overall $4 million equity and debt package. He praised Nuj’s “powerful data platform that addresses an expensive challenge across the super industry — one of staying ahead in compliance with regulations.” Founded in 2020 by Matthew McKenzie, Nuj is a data platform and insights engine that sits between superannuation funds and the regulator. The technology provides real-time insights to superannuation trustees and executives, enabling them to better manage their risk programs. The company’s platform is used by institutions such as MUFG, AMP, and Equity Trustees.
The investment in Nuj comes as regulatory reporting requirements and calls for increased transparency for superannuation funds are growing. McKenzie noted that funding will help “fuel (the platform’s) capabilities for faster data processing and sharper insights, empowering funds to make informed decisions, and driving better financial outcomes.”
Headquartered in Sydney, Nuj was founded in 2020.
Ozone API and ProductCloud team up to help Australian firms meet open banking regulations
A new partnership between Ozone API and ProductCloud will help companies in Australia comply with Open Banking API regulations, specifically Consumer Data Right legislation. The partnership will provide Australian companies with a technology platform that enables them to quickly and securely deliver open APIs aligned to the most recent version of the Australian Consumer Data Standard.
“Our platform is already helping banks and financial institutions around the world to deliver standards compliant with open banking APIs, including in line with the CDR standard,” Ozone API Co-founder and CEO Huw Davies said. “We’re really excited to combine our global expertise in open finance with ProductCloud’s innovative product management platform. Together, our solutions remove the complexity of achieving and maintaining CDR compliance, allowing organizations to focus on their core business.”
Founded in 2017 and headquartered in London, Ozone API is a leading standards-based platform designed to take the complexity out of open banking and help companies meet regulatory and commercial requirements for open APIs. In addition to its partnership with ProductCloud, Ozone API also recently announced its collaboration with FinovateEurope 2024 alum ShareID to, in the words of ShareID CEO and Co-founder Sara Sebti, “enhance the Open Banking ecosystem” and, as Ozone API GM for Europe James Bushby put it, “strengthen trust in open finance.”
Melbourne-based ProductCloud offers a cloud-based, SaaS solution that streamlines product information management for financial institutions. Serving banks, neobanks, mutuals, and non-bank lenders, ProductCloud provides a single tool for both Open Banking Product Reference Data and Design and Distribution Obligation compliance. The company was founded in 2020.
“Since launching ProductCloud back when CDR kicked off, we had our sights on being the go-to Product Information Management and CDR Compliance platform for financial institution product managers,” ProductCloud Co-founder and CEO Mark Evans said. “Partnering with Ozone API is an exciting development because they have also been a pioneer in Open Finance. Collaborating with our respective SaaS platforms and out-of-the-box APIs will provide a unique offering for rapid and cost-effective open banking compliance.”
Here is our look at fintech innovation around the world.
Central and Eastern Europe
Romanian crowdfunding service provider, Venevo, partnered with regtech solutions hub iDenfy.
Lithuanian fintech ArcaPay agreed to be acquired by UK-based financial services provider Ebury.
International money movement firm TerraPay partnered with airport retailer Dubai Duty Free.
Central and Southern Asia
India-based payments and API banking firm, Cashfree Payments, raised $53 million in funding at a valuation of $700 million.
Egyptian fintech Halan Microfinance Bank expanded into Pakistan with a pledge to invest $10 million in 2025.
Indian fintech Cred became the first fintech platform to provide access to India’s central bank digital currency project.
Latin America and the Caribbean
Payment orchestration provider Yuno to launchMastercard Payment Passkey Service across Latin America.
Kuady teamed up with BridgerPay to enhance payment solutions throughout Latin America.
Latin American ecommerce company MercadoLibre now offers transactions using its payment processors in Argentina via Brazil’s instant payment system, Pix.
Its 2025, and while the concept of embedded finance is not new, it continues to evolve, offering fresh opportunities for growth. Embedded finance is making it easier for consumers and businesses to interact with financial services companies by helping to streamline payments, offer in-app credit, and provide insurance offerings within apps. Ultimately, embedded finance is creating convenience and efficiency for both end users and the financial institutions themselves. However, as this sector matures, so too do the complexities surrounding competition, partnerships, and regulatory compliance.
At this year’s FinovateEurope event, taking place February 25 through 26 in London (book now to save!), we’re bringing in experts to discuss a wide range of pressing topics impacting banks and fintechs across the globe. And since embedded finance is still high on the list of hot trends this year, we are featuring two sessions dedicated to exploring opportunities in the space.
In our executive briefing titled, “How financial institutions can capture the huge opportunity of embedded finance & embedded banking in both retail & commercial banking,” the panel will look at opportunities for banks to expand their distribution footprint, the role of non-banks, competition, risk, and more. Panelists include:
Rashee Pandey, Associate Director of Membership and Growth at Innovate Finance
Sadeque Ahmed, Executive Director of Product Management at J.P. Morgan
Vivien Cheung, Head of Financial Partnerships EMEA at Airwallex
Andrew Crocombe, Head of Embedded Banking Propositions at ClearBank
Jose Luis Navarro, Head of Open Banking Strategy at BBVA
Jakob Pethick, Chief Commercial Officer at YouLend
We’ll also host Mbanq Co-Founder Vladimir Lounegov, as he delivers a special address titled, “Want to print money? How embedded finance turns brands into banks.” Lounegov will share how embedded finance empowers non-financial brands to generate new revenue streams, build customer loyalty, and gain a competitive edge by integrating financial services seamlessly into their products or services.
Don’t miss these sessions, and others, at FinovateEurope. Whether you’re a bank, fintech, analyst, or VC, this show will be your opportunity to learn from top thought leaders in the space and shape your 2025 strategy. Register today and be part of the action!
Personetics unveiled a number of new features for its AI-powered flagship solution, Personetics Engage, this week.
The new features will help financial institutions build personalized digital experiences that encourage their customers to better manage their financial lives.
Headquartered in New York, Personetics made its Finovate debut at FinovateEurope 2016 in London.
Personeticsannounced a range of new features for its AI-powered flagship solution, Personetics Engage, this week. The new features are designed to help financial institutions create personalized digital experiences for their customers that empower and motivate them to better manage their finances.
“Financial institutions today need solutions that go beyond basic personalization and static insights,” Personetics Chief Product Officer Ron Agam said. “These new capabilities advance our mission of providing banks with a platform that dynamically responds to their customers’ changing financial needs, making them smarter about their money and motivated to act.”
The new features include an Activity Tracker that customers can use to see their spending, income, and cash flow for up to 12 months. This interactive overview gives customers enhanced visibility into their financial status, helping them track and manage their finances across multiple accounts from a single location. Personetics also introduced a Financial Recap feature that provides customers with an Instagram-like summary of their spending over the past seven days. The feature not only lists top merchants and categories of spending but also gives users a seven-day forecast of their projected cash balance and activities. Financial Recap helps contextualize spending for customers, making it easy to spot spending trends.
Personetics Engage will also now be equipped with Bank and User Categorization Control. This enables banks to manage transaction categorization mapping to improve accuracy. Institutions can review, recategorize, and rename categories — as well as create their own unique category designations. Customers also have the ability to recategorize transactions, increasing personalization and providing valuable feedback for their bank.
Personetics has also introduced a new level of interactive engagement between banks and customers courtesy of Custom User Journeys. This feature enables banks to build targeted, dynamic flows that collect customer preferences and adapt in real-time. These dynamic flows provide personalized financial guidance, as well as product recommendations that are based on direct customer input. To enhance engagement, the system uses customizable and interactive insights, questionnaires, and teasers..
“With these innovations, banks can move beyond static insights and truly monetize financial wellness,” Personetics VP of Strategy and Business Development Dorel Blitz noted on the company’s LinkedIn page, “inspiring customers to take action while driving meaningful business value.”
Personetics made its Finovate debut at FinovateEurope 2016 in London. Founded in 2011 and headquartered in New York, the company provides money management and personal financial management (PFM) solutions for banks and other financial institutions. Personetics’ technology leverages AI and its financial-data-driven platform to help FIs enhance customer engagement and boost revenue. Today, Personetics serves more than 135 million bank customers around the world, and includes six of the top 12 banks in North America and Europe as customers.
A look at the companies demoing at FinovateEurope in London on February 25. Register today using this link and save 20%.
Bitpowr Technologies
Through Bitpowr Technologies’latest products, fintechs and other companies can offer embedded stablecoin banking, payments, digital wallets, and card products in a safe, secure, and compliant way.
Features
Issue and enable stablecoin digital wallets to store and secure stablecoins
Process and receive global payments using stablecoins
Issue stablecoin-backed cards to users
Who’s it for?
Fintechs, neobanks, payment providers, and businesses.
ID-Pal
ID-Pal uses 100% AI-powered technology for real-time identity verification and AML screening, ensuring seamless customer onboarding, compliance, and zero access to customer data.
Features
Provides built-in AI document fraud detection
Delivers global coverage and streamlined AML compliance
Offers seamless integration options and full customization
Who’s it for?
Banks, neobanks, community banks, credit unions, payments providers, insurance companies, asset management companies, and financial institutions.
MDOTM Ltd
Sphere, MDOTM Ltd’s investment platform, leverages AI to deliver AI-driven investment insights, portfolio rebalancing at scale, and automated portfolio commentaries to institutional investors globally.
Features
Creates AI-driven investment insights
Provides portfolio rebalancing at scale
Uses GenAI for portfolio commentaries and reporting
Who’s it for?
Investment professionals and decision makers from banks, insurance companies, family offices, and asset and wealth management companies.
Moonjelly
Moonjelly is an enterprise-ready GenAI platform that retrieves information, derives insights, and completes tasks to increase day-to-day efficiency with complete transparency.
Features
Unlocks advanced insights with AI on trustworthy data across industries
Executes tasks in seconds to improve efficiency
Creates dashboards to track ROI and enterprise compliance
Who’s it for?
Small-to-medium-sized financial institutions.
PayIP
PayIP’s AI-powered billing platform optimizes banks’ payment network billing and interchange, providing fast, accurate alerts and insights to uncover immediate cost savings and revenue opportunities.
Features
Recovers and optimizes payment network fees and interchange for banks
Empowers banks to understand their payment network billing and interchange
Benchmarks and analyzes network billing
Who’s it for?
Banks, credit unions, fintechs and payment providers paying fees to payment networks and/or earning or paying interchange.
Worldpay plans to acquire AI-driven fraud detection company Ravelin.
The acquisition will help Worldpay enhance its e-commerce offerings by adding fraud prevention technology and improve business clients’ authorization rates.
Ravelin’s cloud-based platform helps merchants combat online fraud, secure accounts, and improve payment authorization rates through partnerships with data providers like Ekata and Ethoca.
Payments and banking services company Worldpayannounced plans today to acquire fraud detection company Ravelin. Financial terms of the deal were not disclosed. The acquisition is expected to close later this quarter.
“Our acquisition of Ravelin aligns with our strategy to invest in innovation and AI technology, enhancing the value we provide customers and accelerating our e-commerce growth,” said Worldpay CEO Charles Drucker. “In today’s online world, equipping merchants with next-generation AI-powered fraud prevention products is vital, and we believe Ravelin’s technology and expertise will significantly enhance Worldpay’s overall value proposition to the marketplace. We look forward to partnering with Ravelin’s leadership and their talented team to help our customers address their most complex challenges.”
Ohio-based Worldpay anticipates that buying Ravelin will complement and enhance its existing portfolio of solutions. The company will also leverage Ravelin’s cloud-based AI platform to help its merchant clients improve authorization rates.
Worldpay was founded in 1971 and enables merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally. The company offers processing solutions that allow businesses to take, make, and manage a variety of payments, including online, in-person, and embedded payments. The company processes over 50 billion transactions each year across 146 countries and 135 currencies.
Fraud prevention and payments optimization company Ravelin helps ecommerce merchants combat online payments fraud, implement account security, accept returns while blocking fraudsters, and set limits on promotional redemptions. The company also performs 3D Secure identification. Ravelin works with third parties including Ekata, Ethoca, and Chargebacks 911 to bring a wealth of data and disputes, and can integrate with other external data sources, as well.
“Ravelin is thrilled to be joining Worldpay, a true global leader in the payments industry,” said Ravelin Co-Founder and CEO Martin Sweeney. “Worldpay’s scale and reach, including processing approximately $2.5 trillion in payments volume and more than 50 billion transactions in 2024, will be an immense asset as we accelerate Ravelin’s momentum and advance our mission to eradicate fraud from the internet. Together, we will be able to deliver innovation at scale, driving the adoption of our industry-leading fraud solutions to customers as they respond to increasingly sophisticated threats and rising fraud-related costs.”
In a world where consumers are demanding faster payments, fraud is taking place at a faster rate, as well. The methods of fraud are also evolving as AI tools become more advanced, making fraud more sophisticated and harder to detect. By integrating Ravelin’s fraud prevention tools with its payment processing services, Worldpay will provide businesses with the ability to protect themselves against fast-moving fraud.
Payment technology provider for financial institutions, Numeral, unveiled its fully managed Verification of Payee (VOP) solution this week.
The new offering will help financial institutions in the European Union meet new VOP requirements months ahead of the regulator’s October 9 deadline.
Headquartered in France, Numeral made its Finovate debut at FinovateEurope 2023. The company was acquired by fellow Finovate alum Mambu in December.
Numeral, a payment technology provider for financial institutions, launched its fully managed Verification of Payee (VOP) solution this week. The technology will enable banks and other financial institutions to comply with the European Union’s VOP policy by October 9, the deadline set by regulators.
“At Numeral, our mission is to provide financial institutions with a future-proof and compliant payments infrastructure,” Numeral CEO and Co-founder Édouard Mandon said. “Given our fully managed payments hub offering, enabling our customers to comply with VOP aligns perfectly with our commitment to streamline payments infrastructures and operations. Our fully managed approach ensures they become and remain compliant without having to navigate the complexities of scheme adherence and ongoing operations.”
Numeral’s solution arrives as Europe searches for ways to fight payment fraud — especially authorized push payment (APP) fraud — and enhance payment security at a time when instant payments are becoming increasingly popular and available. To this end, new regulations for Verification of Payee (VOP) mandate that payment service providers (PSPs) give payers verification of payee details before making credit transfers.
Numeral’s VOP offering provides a managed approach that deals with all the regulatory and technical requirements involved in sending and responding to VOP requests. The solution supports the payment process from VOP scheme adherence to go-live readiness and enables account data synchronization through SFTP, API, manual upload, as well as real-time API connectivity. Numeral’s VOP technology also leverages a configurable matching algorithm that helps firms balance risk management and a seamless user experience. The company has also produced a publication, The Ultimate Guide to Verification of Payee, to help financial institutions better understand the VOP scheme.
“Account pre-validation and domestic verification solutions are extremely valuable for their intended use cases, but aren’t required to achieve VOP compliance,” Numeral Head of Product Marketing Matthieu Blandineau said. “The European Payments Council’s VOP scheme ensures interoperability across PSPs and countries by default, and our solution helps financial institutions comply with the scheme requirements on time, with minimal resources.”
Headquartered in Paris, France, Numeral made its Finovate debut at FinovateEurope 2023, where it demonstrated its API platform that enhances payment operations by automating bank payment processing. Specifically, Numeral showed how its platform automatically sends, receives, and reconciles SEPA payments and manages payment errors via SEPA R transactions.
Founded in 2021, Numeral was acquired by fellow Finovate alum Mambu in December 2024.
What makes an address “special”? This year at FinovateEurope 2025, the designation is going to speakers addressing an especially wide range of topics — from AI to quantum computing. Some of the presentations we’re highlighting today will be on the mainstage at FinovateEurope. Others will be offered as part of our focused tracks examining topics in payments, customer experience, AI, lending, and banking risk and regulation. All of them promise to be insightful discussions on key topics impacting fintech and financial services today.
Our slate of speakers for FinovateEurope is growing by the day. Visit our FinovateEurope 2025 hub for the latest updates on who’s speaking and when.
Mainframe modernization: the journey to agile digital services in 2025
Featuring Paul Holland (LinkedIn), CTO, Astadia: An Amdocs Company, this special address looks at how tools such as Generative AI (GenAI) can help accelerate digital transformation to unlock even further modernization. Holland will also lead a conversation on how financial institutions can complement existing capabilities to successfully modernize mainframe applications at scale. Tuesday, 25 February, 10:05 am.
An Amdocs company, Astadia is an industry-leading mainframe migration and modernization firm. Astadia’s core competencies include cloud migration, refactoring, replatforming, DevOps, and managed IT services. The company has conducted more than 300 successful migrations with world-class organizations.
Countdown to Q-Day: Why Banks Must Act on Post-Quantum Authentication Now
Featuring Petr Dvořák (LinkedIn), Founder and CEO, Wultra, this special address will examine the evolution of quatum computing and the potential challenges the technology will bring to digital banking. Dvořák will discuss the migration to post-quantum authentication (PQA) and the importance of transitioning to quantum-resistant authentication before “Q-Day” — when quantum computers are powerful enough to break contemporary cryptography. Tuesday, 25 February, 3pm.
Founded in 2014 and headquartered in Prague, Wultra helps banks and fintech brands build secure digital applications. The company offers modern, compliant authentication solutions that deliver security, easy access to financial services, and straightforward deployment.
Building Interactive Data Applications with Plotly: How AI Enhances the Delivery and Usage of Data Apps
Featuring Andy Wisbey (LinkedIn), European Sales Director, Plotly, this special address is part of FinovateEurope 2025’s Artificial Intelligence Track. Wisbey will lead a hands-on session that will demonstrate how to leverage Plotly’s advanced visualization capabilities to create an interactive data application that transforms complex financial data into actionable insights. Wednesday, 26 February, 10:50am
A Bronze sponsor of FinovateEurope 2025, Plotly is a leading provider of open-source graphing libraries and enterprise-grade analytics solutions. The company’s flagship solution, Dash Enterprise, enables organizations to build scalable and interactive data apps that drive impact decision-making.
Also providing special addresses at FinovateEurope this year are:
Pedro Andrade, Key Account Director, ORACLE MySQL
Vladimir Lounegov, Co-Founder, Mbanq
Waheed Mahmood, BFSI Lead, Rackspace
Be sure to check out the Finovate blog as more speakers for FinovateEurope are confirmed. And if you haven’t picked up your ticket yet, there’s no time like the present! Visit our FinovateEurope hub today and save your seat!
FIS is now certified to offer send capabilities for FedNow.
Adding FedNow send capabilities enhances FedNow’s real-time payment services for bank clients and enables instant credit transfers.
As of late last year, 60% of FedNow participants can receive payments, only 40% have adopted sending capabilities.
Payment, banking, and investment systems provider FISannounced today that it is now certified to enable send capabilities for FedNow instant payment credit transfers.
FIS was an early adopter of FedNow, and was one of the first institutions to enable its customers to receive FedNow payments after the technology launched in July of 2023. Adding send capabilities, along with real-time transfer alerts, allows FIS to bring its bank clients a more comprehensive payments experience.
“As money moves between banks, consumers, businesses, and beyond in a complex cycle, credit and debit cards continue to play a leading role in the payment experience,” said FIS Head of Cards and Money Movement Chris Como. “However, slow or delayed transfers can harm customer loyalty when they need to pay loans, rent, or time-sensitive bills on any given day. Giving the end user direct access to send payments instantly using FedNow marks a huge milestone in our efforts to enable a harmonious payments experience for our clients and the customers they serve.”
This announcement comes after it was reported that only 40% of firms have signed up to send payments using FedNow, as of late last year. In comparison, close to 60% of the financial institutions on board with FedNow are able to receive payments. As of last month, more than 1,000 financial institutions have enrolled in the FedNow Service. The Federal Reserve maintains a list of participating financial institutions on its website.
The lack of banks willing to send payments over FedNow may be caused by a handful of factors. Implementing the necessary infrastructure to send payments requires more technological investment and operational considerations than simply receiving payments. Additionally, faster payments leads to faster fraud, including authorized push payment (APP) fraud, where fraudsters trick users into sending money to them. Also, at a time when banks are seeking to increase their deposits, it doesn’t benefit them to make it easy for customers to send money.
Founded in 1968, FIS is headquartered in Florida. The firm, which counts 15,000 clients across the globe, offers a wide range of products and solutions, including payment capabilities, risk management tools, customer communications products, and more. FIS-powered tools process $50 trillionannually and hold $16 trillion in assets.
Moneyhub is partnering with Money Squirrel to provide open banking technology for Money Squirrel’s new small business financial management app.
Money Squirrel’s new app is aimed to automate VAT savings and optimize cash flow.
The collaboration comes as regulations like PSD2 continue to shape the open banking landscape across Europe.
Data and payments fintech Moneyhubunveiled this week that it has been selected by Money Squirrel to power its new small business financial management app.
Launched last month, Money Squirrel’s app aims to help businesses manage their finances and optimize their cashflow. The UK-based company will leverage Moneyhub’s open banking-enabled API technology to power the platform. Money Squirrel’s tools allow businesses to automate saving for future VAT payments. Once businesses connect their savings accounts, Money Squirrel places incoming funds into high interest rate accounts to maximize returns on sedentary cash, according to the business’ preference.
“Having Moneyhub’s API technology has been critical to launching our app, but it’s also encouraging to be aligned with them on the aim of making open banking and open finance more inclusive,” said Money Squirrel Founder and CEO Andreea Daly. “Having founded a business, I’ve experienced the frustrations of managing cash flow – spending countless hours calculating VAT and budgeting for future expenses. Therefore, we know firsthand how having the technology to remove these frustrations can unlock so much potential for businesses.”
Founded in 2023, Money Squirrel was selected to participate in the SHIFT open finance community’s dedicated fintech incubator, Ignite. The program provides financial support, expert guidance, and industry networking opportunities.
Moneyhub was founded in 2014 and sells personal finance technology tools, open data APIs, decisioning solutions, and payments capabilities. The company helps businesses leverage open data to enhance the financial wellness of their customers, communities, and businesses.
“Collaborating with Money Squirrel is a significant step in making open banking technology accessible to both SMEs and larger institutions,” said Moneyhub MD of API Kim Jenkins. “We are thrilled to help simplify financial management and unlock growth opportunities for smaller businesses by powering Money Squirrel’s app with our API. This partnership highlights our commitment to driving financial inclusivity and innovation across the board.”
As regulations like PSD2 continue to evolve across Europe, businesses are increasingly adopting open finance solutions to gain better control over their financial operations. By automating tasks such as VAT planning and cash flow optimization, fintechs like Money Squirrel can help businesses reduce administrative burdens, improve liquidity management, and make more data-driven financial decisions.
Moneyhub has demoed its technology at FinovateEurope 2015 and FinovateEurope 2017. This year’s FinovateEurope event is just a few weeks away. Learn more about this year’s demoing companies and register to attend to take part in the action.
Plaid and Algebrik have forged a partnership to integrate consumer-permissioned data with Algebrik’s AI-powered, digital Loan Origination Platform (LOS).
The partnership will help credit unions make better, more accurate lending decisions and provide a frictionless, transparent process for borrowers.
Plaid made its Finovate debut at FinovateSpring 2014 in San Francisco.
A newly announced partnership between Algebrik and Plaid will bring seamless identity verification, financial data access, and better decision-making to lenders, banks, and credit unions. Algebrik is the company behind the world’s first, cloud-native, AI-powered, digital Loan Origination Platform (LOS). By integrating Plaid’s consumer-permissioned data, the company will be able to help its financial institution clients streamline the borrowing experience while maintaining both compliance and data security.
“Credit unions are the lifeblood of financial inclusion, and we’re excited to bring them cutting-edge technology that enhances their ability to serve their members by incorporating cash flow data into credit decisions,” Algebrik AI CEO and Founder Pankaj Jain said. “Partnering with Plaid allows us to reimagine the loan origination process — faster, more secure, and deeply personalized for every borrower.”
The access to consumer-permissioned real-time financial data will help credit unions and other lenders make better and faster lending decisions. Credit unions and community banks in particular are likely to realize significant operational advantages thanks to the partnership, including reduced time-to-decision and greater underwriting accuracy. The integration will help lenders conduct income verification and financial wellness assessments, while borrowers benefit from a lending experience with less friction and greater transparency.
“This alliance underscores Algebrik’s commitment to leveraging advanced technology to simplify and humanize the lending process,” Jain said. “Together with Plaid, we’re enabling credit unions to unlock greater value for their members while setting a new standard for lending efficiency and borrower satisfaction.”
Headquartered in New York, Algebrik was founded in 2024. The company’s mission is to help credit unions deliver digital loans to their members, revolutionizing the loan origination process by leveraging inclusive AI technology. In a world in which lenders and borrowers alike are faced with inefficiencies — from manual processes to disconnected systems — Algebrik blends AI-powered automation, intelligent insights, and seamless workflows to transform the loan lifecycle from borrower onboarding to loan closure.
Plaid made its Finovate debut at FinovateSpring 2014 in San Francisco. Today, the company boasts more than 100 million users on its data and insights network and more than 12,000 financial institutions. The company’s open finance network facilitates fast customer onboarding, account verification, multi-rail payments, fraud prevention, credit underwriting, and more. Zach Perret is CEO.
A look at the companies demoing at FinovateEurope in London on February 25. Register today using this link and save 20%.
CyberUpgrade
CyberUpgrade automates ICT security and compliance, transforming paper processes into resilience. Built by CISOs, it streamlines audits, risk, and vendor management and fosters cybersecurity awareness.
Features
CoreGuardian ensures compliance with DORA and other frameworks
CoPilot engages employees 1-on-1 via Slack and Teams for security awareness
VendorGuard streamlines vendor risk management
Who’s it for?
Financial institutions, investment firms, insurers, payment processors, critical ICT providers, and non-EU companies serving EU financial entities.
Intrepid Fox
Intrepid Fox makes onboarding for banks and fintechs 10x faster. Their AI-powered document collection reduces manual follow-ups by 90% and cuts costs by 50%.
Features
Provides on-the-spot document analysis for 10x faster document collection
Automates follow-ups with the customer to eliminate back-and-forth emails
Includes an interactive compliance dashboard that provides a robust risk analysis
Who’s it for?
Banks, credit unions, fintechs, payment providers, and financial institutions seeking faster and more efficient business onboarding.
Keyless
Keyless is a leader in privacy-preserving biometric authentication. It is ISO27001, FIDO, and FIDO2 certified and protects global enterprises from fraud while ensuring compliance and multi-factor security.
Features
Delivers data privacy and compliance
Offers multi-factor security
Creates a seamless user experience
Who’s it for?
Banks, fintechs, crypto exchanges, and the broader financial services sector, from SMEs to global organizations.
R34DY
ABLEMENTS by R34DY solves the integration challenge for banks. ABLEMENTS is an AI-driven platform bringing IT ecosystems and organizations together and to market – fast.
Features
Orchestrate – uses AI to integrate IT systems and third-party providers in no time
Create – provides a low code platform for businesses to create flows with AI
Operate – safely deploys and monitors
Who’s it for?
Banks and financial institutions, whether they are legacy, modernizing, or greenfield.
Regsearch AI
Regsearch AI empowers businesses with customizable regulatory AI agents to simplify and automate regulatory compliance, assess gaps, and ensure alignment with internal policies and standards.
Features
Automates regulatory compliance assessments without disrupting current operations
Provides oversight and monitoring of AI agents used outside and within Regsearch AI
Who’s it for?
Small-to-medium-sized businesses, including financial services, insurance companies, banks, credit unions, and payment providers.
