101 developments from 93 companies: 7 acquisitions, 9 funding, 29 partnerships and integrations, 11 launches, 10 licences and regulators, 35 other developments.
Closed €22M Series B led by PayPal Ventures source
Raised $2.5M pre-Series A from Elm (Saudi Arabia) to expand AML compliance into MENA
techcrunch.comZone raised $8.5M seed round led by Flourish Ventures and TLcom Capital to scale decentralized payment infrastructure.
techcrunch.comRaised $80M Series D led by JMI Equity at ~$800M post-money valuation, bringing total funding to ~$188M.
news.crunchbase.comIntegration Labs (RootFi) announced it was joining Commenda, adding a unified accounting API to Commenda's compliance platform.
rootfi.devAnnounced Wisetack (consumer pay-over-time) and YouLend (SMB embedded financing) partnerships under WorkWave Financial Services
insights.workwave.comPartnered with Insuritas to launch Affinity Insurance Agency via the BUNDLE by Insuritas platform, offering auto, home, commercial, and ancillary insurance to members.
insuritas.comChartmetric launched SmartFilters powered by AI, allowing music discovery via written prompts in 10+ languages.
digitalmusicnews.comBankiFi and Praetura announced a lending-as-a-service partnership to deliver asset and invoice finance to SMEs through banks that cannot serve those customers directly.
bankifi.comAnnounced embedded banking integration with PNC Bank for Workday ERP users via PINACLE Connect.
stocktitan.netTrueNorth and Brim Financial announce partnership to deliver Credit-Card-as-a-Service platform for banks, fintechs, and major brands in the US and Canada.
ibsintelligence.comGoldman Sachs completed the sale of GreenSky to a consortium led by Sixth Street Partners, including KKR, Bayview Asset Management, and CardWorks.
en.wikipedia.orgLaunched Boulevard Capital, an embedded working-capital product powered by Pipe, offering funding based on business performance rather than credit history.
joinblvd.comPartnership with Qoyod to embed SME financing into Saudi Arabia's leading cloud accounting platform
fundingsouq.comCoronation Group, Access Holdings, Safaricom and M-PESA Africa announce East-West Africa remittance partnership
conversations.coronation.ngJoined the Treasury Prime Bank Network as a partner bank for embedded banking.
fintechfutures.comAnnounced an Adyen integration for improved payment experience and fraud prevention.
thepaypers.comBack Market partnered with bolttech in Japan to launch 'BackUp' embedded device protection covering breakage, corrosion, and liquid damage.
bolttech.ioAnnounced partnership with Nium to deploy virtual card solution for paying hotel partners in 20+ currencies globally.
prnewswire.co.ukEvolve Bank & Trust formally announced its BaaS partnership backing the Neon Money Club Cream American Express Card.
getevolved.comPartnership with Mastercard for co-branded virtual card and commercial solutions.
globenewswire.comLaunched Centime Banking (Centime Checking Plus) high-yield business checking account at 2.25% APY, powered by FNBO as bank partner and strategic investor.
centime.comTirana Bank signed a landmark 5-year agreement with Backbase for cloud-deployed Engagement Banking Platform; implementation partner is Endava.
linkedin.comTangoPay announced a partnership with Currencycloud to provide real-time FX rates and localised payment options for UK-based expat customers.
ecommercenews.ukPayPoint and Lloyds Bank announced major strategic partnership expansion; Lloyds Bank Cardnet becomes main card acquiring partner across 60,000+ SME and retailer partners, with bundled 12-month fee-free Lloyds business account.
globenewswire.comSINNAD signed a strategic partnership with Bede, a Shariah-compliant fintech microfinance app, subsidiary of Zain Bahrain Fintech Company, to power Bede's card and payment processing infrastructure.
sinnad.com.bhVaro launched Varo Line of Credit (up to $2,000) and in-app budgeting tools to address financial stress for cash-strapped Americans.
prnewswire.comForm3 and Feedzai unveiled a joint APP Fraud Prevention solution for the UK market, targeting PSR reimbursement rules.
openbankingexpo.comIntroduced contactless EMV ticketing in Croatia (Libertas-Dubrovnik) and Iceland (Sýsli airport bus) in collaboration with Rapyd as the acquiring services provider.
littlepay.comUnion54 and Mastercard launched ChitChat in Zambia, a social commerce platform with built-in USD digital wallets and plans for dollar debit cards by Q2 2024.
techpoint.africaMeaWallet launched Mea Card Gateway, a secure platform for transmitting sensitive payment card data between customers, payment processors, and service providers.
meawallet.comPortal unveils RAFA as first generative AI investment app across traditional + crypto markets.
fintechfutures.comAvaloq rolled out the Engage app to boost wealth management offering for banking clients.
ibsintelligence.comKiwibank goes live with ACI Worldwide's Enterprise Payments Platform for all account-to-account real-time payment processing, first in NZ to do so on a cloud-hosted managed service.
investor.aciworldwide.comExpanded into Tanzania with a Bank of Tanzania licence (business payments, merchant services, outbound payments), after Nigeria and Kenya.
techpoint.africaObtained a full UK banking licence from the FCA, roughly a year after applying.
techcrunch.comRBI granted Innoviti Technologies Payment Aggregator authorization for online payments.
timesofindia.indiatimes.comA US judge approved early termination of its Capital One partnership, citing the bank's service failures.
thepaypers.comSecured a UK e-money licence; appointed a former Tide CEO as chairman.
embeddedfinancereview.comFull UK banking licence granted by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). FCA firm reference number 970920.
dev.griffin.comAnnounced direct client-to-partner-bank relationships following regulatory guidance.
linkedin.comCambridge Savings Bank provided a $10.5 million credit facility to Stauer to support ongoing working capital needs.
cambridgesavings.comBloomberg reported Ebury is in talks with banks for a potential 2025 LSE IPO at a valuation of up to £2 billion.
fintechfutures.comIts lending division stopped underwriting its own loans to US/UK merchants, shifting to third-party providers.
fortune.comOxygen paused banking services; The Bancorp Bank, N.A. ended the Oxygen consumer deposit account program effective March 29, 2024.
help.oxygen.usCIBC Innovation Banking provided growth financing to fund product innovation and global expansion
innovationbanking.cibc.comOTT Pay published e-Commerce Payment Facilitator BD Training materials, signaling active expansion of its e-commerce payment facilitation business.
ottpay.comEdwin Poot appointed as Global CTO, joining from Dayrize; previously VP of Product at Nubank and strategic advisor at Paxos.
fintechfutures.comCitcon collaborated with Visa Direct to expand money movement capabilities across supported markets.
citcon.comJust Eat for Business switches invoicing platform to Workday, changing consolidated invoice delivery and individual order invoice emails.
business.just-eat.co.ukStreamBank Plc published its FY24 Annual Report (year ending March 2024), audited by PricewaterhouseCoopers LLP, naming Barclays Bank Plc and ClearBank as principal bankers.
streambank.co.ukDash Solutions reported record $50B+ total payments volume, 20% headcount growth, and doubling of disbursements segment in 2023.
fintechfutures.comOCREDIT announced Q4 2023 financial results and closed a $300M private placement of 5-Year Senior Unsecured Notes.
troweprice.gcs-web.comOnyx Private sent account closure notices to B2C customers, citing discontinuation of consumer banking services; CEO Victor Santos confirmed a B2B pivot rather than a full shutdown.
techcrunch.comPYMNTS reported Onyx Private shifting business model from B2C to B2B embedded banking.
pymnts.comSwisscard updated its Online Privacy Statement to reflect compliance with the revised Swiss Federal Act on Data Protection (FADP, effective September 2023).
cashback-karte.chExpanded its debit-card product to enable merchant-funded rewards for loyalty programs.
pymnts.comAnnounced PCI DSS compliance achieved in December 2023 for IremboGov's payment gateway.
irembo.comExtended agency banking, letting regulated customers get their own IBANs/BICs in local markets.
finextra.comExtended and increased secondary lending facility with Hilco Capital by six months to February 2025, with an additional £20m available.
lesechos-comfi.lesechos.frApple announced it would discontinue Apple Pay Later, pivoting to support third-party BNPL providers (e.g., Affirm, Klarna) natively within Apple Pay checkout.
americanbanker.com20-year anniversary; disclosed processing £2.6bn / $2.7bn / R45.5bn annually across 260,000+ tenancies.
payprop.comMicrosoft published customer case study detailing Treasury Curve's Azure migration (Azure SQL, Entra ID, Power BI); platform now aggregates data from 11,000+ global financial institutions
treasurycurve.com₦0.44bn Series 1 Commercial Paper issued on FMDQ Exchange (151-day tenor, 23.5% yield).
fmdqgroup.comPivoted away from fintech/non-financial brands to focus exclusively on bank-direct offerings, with a workforce reduction.
pymnts.comAdded OMB Bank to its bank network following its strategic shift to focus on banks.
finextra.comPayPoint appointed as supplier on Crown Commercial Service's Open Banking Dynamic Purchasing System framework for public sector buyers.
serviceprovider.paypoint.comBBPS Procedural Guidelines Version 3.0 published, covering participant management, transaction flows, settlement/escrow procedures, fee structures, and governance.
ebixcash.comEach item is a dated development on the dossier of a company the Index tracks, linked to its announcement where the dossier recorded one. It is not every embedded finance announcement of the month. Deals between two tracked companies are listed once. Kinds are assigned from each announcement’s wording, and deals are ranked by the amount raised or paid, where disclosed.
