Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Termination of Enforcement Action issued against Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch · Federal Reserve · Aug 25, 2026
Partnership — Revolut Japan Partners with Minna no Ginko via BaaS Banking Agency Agreement · Aug 25, 2026
Product — Absa Develops Embedded Payment Tool for Township Small Businesses · Aug 22, 2026
M&A — I-Remit Approves P20 Million Capital Infusion Into Surepay Technologies · Aug 22, 2026
Visa launched its Commercial Integrated Partners program on May 22, 2025, to accelerate embedded finance adoption among fintechs and enterprise software providers. The program provides streamlined API access for integrating commercial payments, virtual cards, and data solutions into business applications. Early partner Car IQ reported the program could save 18-24 months of development time for fleet payment integrations.
The OCC issued an interim final rule effective May 15, 2025, restoring expedited merger reviews and streamlined procedures for bank transactions. The rule reduces scrutiny on novel activities, directly benefiting fintechs, crypto firms, and de novo national bank applicants seeking to enter the banking system.
Entities: Office of the Comptroller of the Currency (OCC)
Inswitch and Mastercard announced a partnership on May 14, 2025, to launch embedded payments and card issuing programs across multiple industries. The collaboration leverages Inswitch's fintech technology platform with Mastercard's network to enable non-financial companies to offer payment services. The partnership aims to expand embedded finance adoption across diverse verticals.
Banque Saudi Fransi (BSF) launched a next-generation digital banking platform built on Backbase's engagement platform, with middleware integration by Hexaware. The AI-powered omnichannel platform covers retail mobile and web banking with features including digital onboarding, Apple Pay, and biometric authentication. The initiative reflects a banking-as-a-platform approach that modernizes customer-facing channels while preserving legacy core systems.
Entities: BSF (Banque Saudi Fransi) · Backbase · Hexaware
Jeeves launched an embedded finance solution on May 9, 2025, targeting Brazil's corporate travel sector with virtual card technology. The product improves traceability, reduces fraud, and enhances expense control for travel agencies. It represents Jeeves' expansion into embedded B2B payment solutions in Latin America.
Glide raised a $15 million Series A to expand its embedded deposit origination platform for community banks and credit unions. The platform reduces account opening time from 20 minutes to under 3 minutes and boosts onboarding rates by 3x. Glide supports all account types via seamless integration into existing banking systems.
TradeBridge secured a £70M (~$88M) credit facility from Castlelake to fund embedded finance lending to SMEs, including eCommerce marketplace sellers on platforms like Amazon. The facility enables TradeBridge to scale its embedded lending offerings within digital commerce ecosystems. The deal highlights growing institutional capital backing for embedded finance in SME lending.
Airwallex introduced a Connected Account Console, a web-based portal enabling platforms to onboard, monitor, and manage connected accounts within its embedded finance ecosystem. The console offers global visibility and upcoming features for transaction management. It is designed to simplify account operations for platforms embedding financial services.
AvidXchange, a B2B payments automation platform, was acquired by TPG and Corpay for $2.2 billion. TPG gained majority control through its private equity platform while Corpay took a 33% minority stake. The deal highlights continued investor appetite for embedded B2B payments infrastructure.
Bottomline launched an embedded integration of its Paymode business payments network into commercial digital banking platforms. Paymode processes $450 billion annually and serves over 440,000 businesses. The integration offers in-app supplier self-enrollment, rebates, fraud reduction, and new revenue opportunities for banks.
Coinbase agreed to acquire Deribit, a leading crypto derivatives exchange, for $2.9 billion in a mix of cash and stock. The deal comprises $700 million in cash and 11 million Coinbase shares. This is one of the largest crypto-sector acquisitions and expands Coinbase's embedded crypto trading infrastructure.
FIS launched its Money Movement Hub on May 1, 2025, a cloud-native payments platform with universal APIs designed for U.S. banks. The hub unifies money movement, fraud controls, and scalable integrations into a single platform. It aims to modernize bank payments infrastructure and enable faster fintech and third-party integrations.
Slash secured a $41M Series B at a $370M valuation led by Goodwater Capital, NEA, and Menlo Ventures. The company provides industry-specific business banking including checking accounts and payment cards. The round supports its challenge to one-size-fits-all banking with tailored vertical financial solutions.
Entities: Slash · Goodwater Capital · NEA · Menlo Ventures
Federal regulators conditionally approved Capital One's acquisition of Discover Bank, while simultaneously penalizing Discover $100 million. This deal combines two major card-issuing banks and has significant implications for the payments and BaaS landscape. The merger creates a combined entity with substantial scale in cards and payments infrastructure.
Lendflow obtained $15M in growth capital from Trinity Capital to enhance its AI-driven embedded credit infrastructure platform. The company provides credit APIs enabling fintechs, vertical SaaS companies, and lenders to integrate lending capabilities. The funding advances Lendflow's mission to make credit decisioning faster and more accessible via API.
Airwallex raised $300M in a combined primary Series F and secondary transaction, bringing total funding to $1.2B at a $6.2B valuation. The cross-border payments and banking infrastructure platform will use the capital to expand into Japan, Korea, the UAE, and Latin America. The round underscores strong investor appetite for global payments infrastructure.
Fiserv's Merchant Acquirer Limited Purpose Bank (MALPB), chartered by the Georgia Department of Banking and Finance, processed its first card-based transactions around April 30, 2025. The charter was originally approved on September 27, 2024, with a permit to begin business issued on April 11, 2025. This is the first MALPB charter to process card-based payments in the U.S., enabling direct merchant acquiring without deposit-taking.
Entities: Fiserv · Georgia Department of Banking and Finance
Cross River Bank launched its International Payments product on April 30, 2025, offering embedded cross-border transactions via API. The solution features smart routing across SWIFT and local payment rails with built-in AML compliance. It targets fintechs and SMBs seeking seamless global payment capabilities.
Backbase launched what it calls the world's first AI-powered banking platform, embedding AI-driven customer servicing, sales automation, and self-service capabilities. The platform features an Intelligence Fabric with Agentic AI for secure, auditable operations. It is globally available immediately and aims to help banks expand revenue through embedded intelligence.
Global payments fintech Thunes raised $150M in Series D funding led by Apis Partners and Vitruvian Partners. The company's Direct Global Network connects over 7 billion wallets and accounts across 130+ countries via APIs. Funds will target U.S. expansion, AI innovation, and digital asset interoperability.
Fiserv expanded its AppMarket, a digital marketplace connecting banks with fintech apps via APIs, and launched a new fintech hub in Kansas. The platform enables hyper-personalized banking, faster payments, and API-based data control for financial institutions. This positions Fiserv as a leading API-powered banking infrastructure provider.
VoPay launched an embedded cross-border payments-as-a-service solution on April 23, 2025, targeting software platforms and banks. The product enables global money movement with real-time FX and built-in compliance. VoPay positioned the offering as a 'Shopify for global payments,' emphasizing ease of integration.
Bangor Savings Bank joined the American Fintech Council on April 22, 2025, to advance embedded finance solutions. The bank aims to leverage fintech partnerships for customer-centric banking, card payments, and digital tools including its Buoy Local® rewards app. The move signals growing community bank engagement with the embedded finance ecosystem.
Entities: Bangor Savings Bank · American Fintech Council
BKN301, a global Banking-as-a-Service fintech, closed a €21.5 million Series B round in April 2025. New investors include CDP Venture Capital, Azimut Libera Impresa, SIMEST, and Alisei Forinvestments. The funds will support international expansion and enhancement of its proprietary BaaS Orchestrator platform.
Entities: BKN301 · CDP Venture Capital · Azimut Libera Impresa · SIMEST · Alisei Forinvestments