Celerant Technology Partners with Buy Now Pay Later Innovator Sezzle

Celerant Technology Partners with Buy Now Pay Later Innovator Sezzle
  • Retail software company Celerant Technology has partnered with BNPL innovator Sezzle.
  • Celerant will integrate Sezzle’s SezzlePay solution into its platform. SezzlePay enables consumers to pay for purchases in four, interest-free installments over six weeks.
  • Sezzle made its Finovate debut at FinovateSpring 2016.

Retail software provider Celerant Technology announced a partnership with consumer financing solutions company Sezzle. The partnership will enable retailers who use Celerant eCommerce to add Sezzle Pay to their payment choices. This option gives consumers the ability to take advantage of Sezzle’s buy now, pay later (BNPL) financing, with 0% APR. Retailers will also benefit from engagement with potentially millions of Sezzle users, an opportunity that could lead to increased online sales and new customers.

“We’re excited to partner with a leader in the retail software industry and to bring Sezzle’s Buy Now, Pay Later financing to the millions of consumers that shop at Celerant’s diverse ecosystem of brands,” Sezzle co-founder and Chief Revenue Officer Paul Paradis said.

Paradis underscored the popularity of BNPL financing among millennials and Gen Z consumers. He pointed to the fact that BNPL financing charges no interest and no fees when purchases are paid for on time, as well as the ability to use BNPL to build credit, as two factors in favor of the financing option. “It’s a runaway hit,” Paradis said.

Celerant’s eCommerce platform enables retailers to offer Sezzle to customers directly from their website. The process is straightforward. Customers select SezzlePay as their payment option during checkout. This will enable them to split the cost of the transaction into four interest-free payments over six weeks. Sezzle pays the merchant in full at the time of the transaction; funds are direct deposited in the merchant’s account within one-to-three business days. Sezzle also assumes full risk of any missed payments.

“With more consumers turning to instant credit apps to make ends meet, it was important to expand our technology with additional consumer financing options,” Celerant President and CEO Ian Goldman said. “As a popular ‘buy now, pay later’ solution in the industry, partnering with Sezzle provides more options for our retailers to offer their customers payment flexibility and help financially with larger purchases, and in turn increase our retailers’ online sales.”

Sezzle made its Finovate debut at FinovateSpring in 2016. The company returned to the Finovate stage two years later for FinovateFall. Sezzle began 2023 as the first BNPL company in Canada to offer free credit-building service to users. The firm also began the year as a profitable company, growing from a net loss of $75.2 million in fiscal year 2021 to ending 2022 with net income in Q4. The turnaround came as a result of major cost-cutting strategies. These efforts included layoffs; a retreat from potential expansion in Asia, Europe, and Latin America; and a renegotiation of merchant fees. Sezzle also benefitted from a premium membership drive that brought on more than 132,000 subscribers.

Founded in 2016, Sezzle is headquartered in Minneapolis, Minnesota.


Photo by cottonbro studio

inbanx Taps Corserv To Launch Visa Commercial Card Offering

inbanx Taps Corserv To Launch Visa Commercial Card Offering
  • Business budgets and digital payments platform inbanx has partnered with Corserv.
  • inbanx will leverage Corserv’s Payment Cards as a Service API to offer its business customers a Visa commercial credit card.
  • According to Juniper Research, the number of payment cards issued via digital platforms will grow 170% between now and 2027.

Business budgets and digital payments platform inbanx is boosting its offerings today by partnering with card issuer Corserv. Texas-based inbanx is integrating Corserv’s Payment Cards as a Service API (PCaaSA) into its platform to offer a more holistic business payments platform.

Integrating Corserv’s PCaaSA will enable inbanx to offer a Visa commercial credit card to its business clients. The new modern payment card solution will offer real-time, configurable spend controls and cooperative authorization for businesses that rely on hierarchical approvals and spending limits.

“Our highly configurable PCaaSA platform simplifies complex processes for inbanx to launch and embed commercial cards in a secure, compliant and flexible way,” said Corserv CEO Anil Goyal. “We are thrilled to work with inbanx to integrate with their innovative budget and expense management solution.”

Founded in 2021, inbanx helps businesses budget, manage their card program, and control spending across teams. By automatically reporting the expenses, inbanx’s solution eliminates the need for employees to fill out manual expense reports.

“We serve our customers with an innovative and easy-to-use solution that adopts the next generation of payment capabilities to allow businesses and their employees to spend efficiently,” said inbanx CEO Rob Kaczmarek. “Corserv’s payment card platform was the only solution that afforded us the customizability and flexibility to build exactly what we needed for our customers.”

Corserv has been helping banks and fintechs offer issuing processing and program management services for credit, debit, and prepaid cards since it was founded in 2009. The Atlanta, Georgia-based company has raised $2.1 million in funding and recently named Anil Goyal as its new CEO.

Modern card issuing is a hot space in the fintech realm, especially as banking-as-a-service and embedded finance becomes more popular. Juniper Research expects the number of payment cards issued via digital platforms to grow 170% between now and 2027, increasing from 500 million in 2023 to 1.3 billion by 2027. Global leaders in the modern card issuing space include Thales, G+D, FIS, Fiserv, and Marqeta.


Photo by Anna Tarazevich

FinovateSpring 2023 Sneak Peek: FinGoal

FinovateSpring 2023 Sneak Peek: FinGoal

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

FinGoal’s new user tags enable financial institutions to understand their customers better and create more targeted offers resulting in higher cross-sells.

Features

  • Includes user tags based on transaction data
  • Applies user tags in any CRM to create targeted marketing campaigns
  • Results in higher cross-sells and more loyal customers

Why it’s great

FinGoal helps firms go beyond marketing based solely on demographics. They can use the information business’ already have – transaction data – to drive personalized marketing campaigns that will result in higher conversions.

Presenters

Ariam Sium, VP of Product
Sium uses the tenets of focus and value to govern each product decision made in the rapidly adapting world of fintech.
LinkedIn

Jenn Underwood, Product Analyst
Underwood brings expertise in personal finance to FinGoal’s product development. Her passion for equitable financial services and value-based savings greatly enriches the UX.
LinkedIn

FinovateSpring 2023 Sneak Peek: IDMERIT

FinovateSpring 2023 Sneak Peek: IDMERIT

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

IDMERIT’s IDMlive can efficiently and accurately verify a customer’s identity with a live agent.

Features

  • Reduces customer acquisition costs
  • Provides faster onboarding of new customers
  • Offers a simple and low-friction process

Why it’s great

IDMlive is a simple and low-cost solution to manually verify new customers.

Presenters

Ray Weale, COO
Weale, a tech executive for 25+ years, led international teams implementing SAP, Salesforce, and eCommerce for digital transformation. Previously Weale was the CTO at Etihad Airways and Nestle.
LinkedIn

James Stubbs, Customer Success Manager
Stubbs joined IDMERIT in 2021. As the liaison for their clients, he works diligently with each department to ensure that IDMERIT provides the best customer experience.
LinkedIn

FinovateSpring 2023 Sneak Peek: Storied Data

FinovateSpring 2023 Sneak Peek: Storied Data

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Storied Data’s smart information distribution platform transforms digital documents and powers information sharing and data publishing to millions of information consumers.

Features

  • Replace dull PDFs and static documents with smart digital documents
  • Transform the user experience with app-like in-document UI/UX
  • Improve cost, time, and ESG efficiency by 90%

Why it’s great

Businesses can deliver education, transparency, and trust through smart information distribution and data publishing at scale.

Presenters

Rado Kotorov, Founder & CEO
A business leader and innovator with multiple patents, articles, and books. Passionate about data and digital technologies that create new business models and revenue streams.
LinkedIn

Yoshiko Akai, CPO
Innovative and results-driven technology leader focused on achieving exceptional results in highly competitive environments that demand continuous improvement. Experienced in driving product, process, and customer service improvements while building partnerships with the key business decision-makers.
LinkedIn

FinovateSpring 2023 Sneak Peek: Curinos

FinovateSpring 2023 Sneak Peek: Curinos

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Curinos’ Amplero Personalization Optimizer introduces a new kind of marketing automation, making it possible for financial institutions to deliver optimal, hyper-personalized omnichannel experiences.

Features

  • Built by data scientists, tuned for financial services
  • AI engine enables personalization at scale within days, not months
  • Intuitive platform allows for seamless builds of content and user journeys

Why it’s great

Amplero Personalization Optimizer allows financial services marketing departments to add rocket fuel to their operations by utilizing existing tech stack and personnel.

Presenters

Sarah Welch, Managing Director
Welch is a strategic and results-oriented innovator with 15+ years of experience launching and leading startups, new brands, and internal initiatives.
LinkedIn

Tazmin Bailiff Curtis, VP, Amplero
Bailiff Curtis has a diverse background in consulting, strategy, analytics and product management, successfully launching several platforms across industry verticals.
LinkedIn

FinovateSpring 2023 Sneak Peek: TAZI AI

FinovateSpring 2023 Sneak Peek: TAZI AI

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

TAZI AI is a machine learning (ML) platform, enabling business experts and data scientists to build and deploy ML models with patented continuous learning and explainable AI.

Features

  • Easy to use: Usable by business employees who don’t have data science training
  • Time to value: Deploy models in less than two weeks
  • Adaptive: Adapts to changes in data

Why it’s great

A no-code ML platform for business experts (and data scientists) to create, update and deploy ML models, allowing them to make smart decisions in dynamic business environments.

Presenter

Zehra Cataltepe, CEO & Co-Founder
Cataltepe is a computer science expert with a PhD from Caltech. She is democratizing AI across industries and has 100+ publications in the field of AI and 14 patents.
LinkedIn

Avalara Teams Up with eBay to Bring Cross-Border Compliance Support to Merchants

Avalara Teams Up with eBay to Bring Cross-Border Compliance Support to Merchants
  • Seattle, Washingtion-based regtech Avalara has teamed up with online marketplace eBay.
  • Together, the two companies have launched eBay International Shipping, a compliance support solution for merchants operating across borders.
  • Avalara made its Finovate debut as part of our developer’s conference, FinDEVr Silicon Valley, in 2015.

Automated sales tax solution provider Avalara announced a new tool to help make it easier to sell products on eBay and ship them around the world. eBay International Shipping leverages Avalara’s technology to streamline the process of cross-border compliance for merchants on eBay’s platform.

“With eBay International Shipping, we’re making global connections even more accessible, affordable, and profitable, significantly increasing the volume of items available to shoppers in 200+ countries and making it even easier for our sellers to tap a universe of new business opportunities,” eBay U.S. VP and GM Adam Ireland said.

According to Juniper Research, the value of cross-border ecommerce will top $2.1 trillion this year. But the cross-border ecommerce market is not without its complications. Businesses must navigate through a range of customs duties and import taxes in a process that can be both complex and costly. Using Avalara’s software, eBay International Shipping determines Harmonized System (HS) commodity classification codes, identifies item-level trade restrictions, and generates landed cost pricing for more than 200 items hosted on eBay. The new offering will help the platform’s more than five million merchants sell to more than 70 million buyers worldwide.

“With Avalara’s cross-border solutions embedded within eBay’s International Shipping program, we’re able to simplify cross-border compliance complexity and reduce potential customer experience disruptions by providing more transparent landed cost pricing for global buyers and helping ensure parcels meet local customs requirements,” Avalara EVP and GM of Indirect Tax Jayme Fishman said.

Avalara made its Finovate debut at our developer’s conference, FinDEVr SiliconValley in 2015. In the years since, the company has grown into a leading regtech with more than 30,000 customers across 95 countries. Avalara went public in 2018. The firm was acquired in 2022 by Vista Equity Partners in a deal valued at $8.4 billion. Headquartered in Seattle, Washington, Avalara was founded in 2004. Scott McFarlane is CEO.


Photo by Amanda Grove

Raisin U.S. Appoints New CEO

Raisin U.S. Appoints New CEO
  • Raisin has appointed Cetin Duransoy as CEO of the company’s U.S. division, SaveBetter by Raisin.
  • Duransoy comes to Raisin from Fundbox, where he served as President and COO.
  • Today’s announcement follows Raisin’s $64.7 million capital raise in March of this year.

Savings and investment product marketplace Raisin has appointed a new CEO for its U.S. savings division. The Berlin-based company has selected Cetin Duransoy to head SaveBetter by Raisin, its U.S. savings platform originally launched in 2020.

Duransoy

Raisin launched SaveBetter in 2020 to serve as an online marketplace where customers can choose from a variety of savings products, including savings accounts, money market deposit accounts, and certificates of deposit. The savings tool enables users to access more favorable rates than most traditional savings accounts from a single portal.

SaveBetter has seen impressive growth recently, having added $1 billion in assets under management in the past three-to-four months. Additionally, over the same time period, the company has brought 30 financial brands onto its online marketplace. 

In the release, Duransoy said this is an “exciting time” to join Raisin as CEO. “Having already established itself in the U.S. market, demonstrating scale to banking partners and tangible benefits in increased returns for everyday Americans, Raisin is poised to lead the way in further disrupting the American cash savings market and providing a valuable tool to help millions of savers secure their financial future,” he added.

Duransoy has more than 20 years of experience in financial services. He most recently served as President and COO Fundbox, and has also held senior positions at companies including Capital One and Visa.

Today’s announcement comes just over a month after Raisin raised $64.7 million (€60 million) in a Series E funding round led by M&G’s Catalyst and Goldman Sachs. The round boosted Raisin’s total funding to almost $305 million since it was founded in 2012.

Raisin counts more than one million customers and $31.7 billion (€38 billion) assets under management across the U.S., U.K., and European Union. The company taps its network of more than 400 banks and financial service providers from 30+ countries to offer its catalogue of savings, investment, and pension products. Tamas Giorgadse is Co-Founder and CEO.


Photo by ROMAN ODINTSOV

Celebrating Asian-American Achievement in Fintech at FinovateSpring

Celebrating Asian-American Achievement in Fintech at FinovateSpring

May is Asian-American/Pacific Islander Heritage Month. May is also the month that brings Finovate back to San Francisco for our annual spring fintech conference, FinovateSpring.

To this end – and to officially launch our Asian-American Month Commemoration – we’re highlighting the women and men of Asian-American heritage who will be taking the stage at FinovateSpring May 23 through May 25.


Demo Stage Presenters

Yoshiko Akai

Chief Product Officer, Storied Data

Heang Chan

Co-Founder & CEO, Prelim

Sam Kim

SVP, Head of Banking Platform, Prelim


Main Stage Speakers

Michelle Tran

Co-Founder, NYC Fintech WomenPower Panel: Women in Fintech

Theodora Lau

Founder, Unconventional Ventures Power Panel: Beyond the Hype: Why Banking in the Metaverse Matters; Power Panel: AI in Action

Brian Chin

Consultant, SantanderPower Panel: From Competition to Collaboration and Co-Creation

Iris Chan

Partner, Mighty CapitalPower Panel: The Future for Blockchain

Duke Chung

Co-Founder and CEO, TravelBankPower Panel: Achieving Digital Acceleration

Christie Kim

Chief Operating Officer, PersonaPower Panel: Compliance as Leverage

Kurt Lin

Co-founder and CEO, PinwheelPower Panel: Walking the CX Talk

Lawrence Lin Murata

Co-Founder and CEO, SlopeFireside Chat: How Fintech Can Jump on the Generative AI Bandwagon

Rocio Wu

Principal, F-Prime CapitalPower Panel: Achieving Digital Acceleration

Vivian Yeung

Chief Digital & Technology Officer, EVP, Fremont BankPower Panel: AI in Action

Katherine Zhang

Investor, UpfrontRegulation, Regulatory Technology and the Road Ahead


Photo by Thirdman

Making Financial Literacy Fun: A Conversation with Finotta Founder and CEO Parker Graham

As Financial Literacy Month draws to a close, we reached out to Parker Graham, founder and CEO of Finotta. We wanted to hear his thoughts on what it means to be financially literate at a time of major digital transformation and technological change – both in financial services and in the world writ large.

Finotta enables banks and credit unions to personalize their mobile banking experiences for their customers. Headquartered in Overland Park, Kansas, and founded in 2018, Finotta helps smaller financial organizations generate new revenue streams, boost user engagement, and compete with larger financial institutions.

Finotta made its Finovate debut last year at FinovateFall.

What does it mean to be financially literate in 2023?

Parker Graham: For many people, managing their finances and staying financially literate is not just a challenge – it feels harder than ever.

With decades-high inflation and historic interest rate hikes, consumers are feeling the heat.  Most workers reported that any salary gains they’ve received in the last year have been outpaced by inflation.  We’re really seeing this hit young people hard. Half of Gen Z and Millennials are living paycheck to paycheck.

Many consumers don’t know what steps to take to get ahead. And with traditional digital banking channels lacking that personalized experience, they aren’t getting the advice they need. Banks and credit unions must prioritize financial education for their customers because they can’t afford to be left behind.

In today’s world, is digital literacy required in order to be financially literate?

Graham: Digital literacy is a huge challenge we’re facing in the banking industry. More than 15 million people are not digitally literate. Consumers should not have to know how to bank online to make good financial choices.

To tackle this, banks should ensure that customer experience is at the forefront of all of their technology decisions.  Banking apps need to be easy to read, quick to navigate, and intuitive – even for individuals who are not digital natives.  This is exactly why we work directly with users when building our technology at Finotta to make sure it is easily accessible, navigable, and understandable.

Banking tech also must go the extra mile and make it personal by providing Personalized Financial Guidance (PFG) to customers. This guides consumers through their financial journey, no matter where they are, by offering tailored advice on how to meet their financial goals.

How can we make sure technology is an enabler of financial literacy rather than an obstacle to it?

Graham: Banks have to remember that acquiring a new digital banking solution isn’t just about technology for the sake of seeming flashy or modern. A banking app can actually help with financial literacy by taking the guesswork out of what customers should do with their money.

Your banking app needs to deliver the right experience, service, or product to the customer based on their individual data. Then, it should offer users concrete suggestions, like opening a new savings account for college tuition, that help them achieve financially healthy lives. The cherry on top is offering in-app rewards, like badges and milestones, that recognize customers for their positive choices and make financial literacy fun.

How does personalization in digital banking help foster financial literacy? How can fintechs help digital banking customers turn insights into action?

Graham: Consumers are looking for financial guidance beyond typical personal financial management tools, which do nothing more than provide fancy pie charts that show a customer’s spending. 

From a consumer’s perspective, getting alerts in their banking app that tell them how much money they spent at Starbucks over the last month (when that money could have gone towards a 401K instead) does nothing more than shame them. It’s essentially saying, “Hey, you’re in a hole.”

Instead, banks can take consumer data one step further by helping them take actionable steps to reach their goals – like setting up monthly direct deposits to save towards retirement.  A bank using a personalized approach can say, “Hey, we see you’re in a hole, and here’s how you can get out.”

Finotta made its Finovate debut last year at FinovateFall. What was that experience like?

Graham: Debuting our technology last year at FinovateFall was incredible. It gave us an opportunity to tell the story of how powerful and impactful our platform is in a room of our customers and peers.

What can we look forward to hearing about from Finotta in the coming months?

Graham: The next few months for us are going to be about scaling with more and more customers. It’s been a journey building our software and now we are focused on replicating our successes with as many financial institutions as possible.


Photo by Taylor Hunt

Digital Banking Solutions Company Tyfone Raises Capital and Announces Merger

Digital Banking Solutions Company Tyfone Raises Capital and Announces Merger
  • Digital banking solutions company Tyfone has secured a “significant investment” from Demopolis Equity Partners.
  • The Portland, Oregon-based company also announced a merger with digital banking provider Cubus Solutions.
  • Tyfone made its Finovate debut in 2008 at FinovateSpring.

Digital banking solutions company Tyfone hit the fintech headlines with a pair of big announcements in recent days. First, the company has received a significant investment from Demopolis Equity Partners. The amount of the funding was not disclosed.

Tyfone is also announcing that it has merged with digital banking provider Cubus Solutions. The two companies will move forward under the Tyfone brand. The investment and merger are designed to help accelerate the adoption of Tyfone’s nFinia digital banking platform. The addition of Cubus’ customers, digital solutions, and expertise will help the combined entity better serve financial institutions, helping them boost revenues and efficiency.

“Today success in digital banking – in fact, success in any financial technology – is all about engaged digital experiences and the ability to scale,” Tyfone CEO Dr. Siva Narendra said. “That means scaling up to power digital growth for larger institutions and scaling down to facilitate the smaller ones (to) stay relevant.”

Cubus CEO John-Ashley Paul added: “It is rare to find two companies so culturally well-aligned that also complement each other technologically. Our best-of-breed loan payments, loan skips, e-statements, and rewards solutions will extend the Tyfone digital banking ecosystem, leading to tighter integration and a truly exceptional user experience.”

Tyfone demoed its technology at FinovateSpring in 2008. In the years since, the Portland, Oregon-based company has grown into a provider of market-leading software for credit unions and community banks. This year, Tyfone has announced partnerships with Southwest Financial, a Texas based financial institution with 9,200 members and $81 million in assets; and with Members Advantage Credit Union, a credit union based in Wisconsin Rapids with 11,000 members and $178 million in assets.


Photo by Ruvim Miksanskiy