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
Funding — Startup Embedd Raises Pre-Seed Investment Round · Aug 25, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
Stronghold launched StrongholdNET, a payments ecosystem integrating blockchain technology with merchant financing, card processing, and ACH transfers. The platform expanded Stronghold's Merchant Financing Program with DeFi-backed cash advances. It combines traditional payment rails with blockchain-based settlement.
Core Bank became a member of the Banking-as-a-Service (BaaS) Association, signaling its commitment to bank-fintech partnerships and serving underbanked communities. The membership aims to promote innovation and safe collaboration between banks and fintechs. Core Bank joins a growing group of community banks embracing BaaS models.
The Federal Reserve launched the FedNow® Service, enabling 24/7 real-time transactions across the U.S. banking system. The launch modernizes U.S. payment infrastructure and represents a transformational moment for the fintech industry. FedNow provides an alternative to the existing RTP network operated by The Clearing House.
InCore Bank successfully integrated the first bank from Entris Banking Group for cryptocurrency trading and custody via its white-label digital asset banking platform. The partnership enables Entris member banks to offer regulated crypto services without building proprietary infrastructure. This highlights growing BaaS adoption in digital asset banking in Switzerland.
Cross River partnered with Plaid to enable real-time payouts across ACH, RTP®, and FedNow® Service rails. The integration leverages Cross River's proprietary API-based core banking infrastructure. This partnership expands instant payment capabilities for fintechs and platforms connected through Plaid's network.
Routefusion announced a partnership with Evolve Bank & Trust to offer US-based accounts, ACH processing, virtual USD accounts, and FDIC insurance to fintechs and marketplaces. Evolve Bank & Trust already powers notable fintechs like Mercury and Rho. The partnership expands Routefusion's embedded finance infrastructure for its clients.
Cannabis fintech Dama Financial announced plans to more than double its sponsor bank portfolio from five banks by year-end. The expansion focuses on compliance-driven payments for cannabis businesses. The move comes as the industry watches potential SAFE Banking Act progress that could reshape cannabis banking.
Mbanq's Banking-as-a-Service platform was used to power Cheqly, a fintech focused on simple banking for startups and SMEs. The white-label arrangement reduced costs for Cheqly and enabled tailored digital banking services. This partnership exemplifies BaaS enabling niche fintechs to launch without building banking infrastructure from scratch.
PayPal launched Tap to Pay on Android for U.S. merchants through its Venmo and Zettle apps, enabling contactless payment acceptance without additional hardware. This embedded finance capability allows merchants to turn Android phones into payment terminals. The launch followed PayPal's earlier iOS support and trailed competitors Stripe and Square.
Fortis expanded its embedded payments platform into Canada, marking its first international expansion, and acquired SmartPay, an embedded payments provider. The company also launched enhanced funding and settlement capabilities for marketplaces and software platforms. This move broadens Fortis's reach in the embedded payments space beyond the U.S.
Treasury Prime announced it joined the Banking-as-a-Service Association, a group representing over 80% of U.S. BaaS sponsor banks. The membership aligns the embedded banking software platform with an industry network promoting compliant banking services, best practices, and access for underbanked communities. The BaaS Association unites banks, fintechs, and tech providers to advance BaaS strategies.
Tuum and Marqeta announced a partnership to deliver a pre-integrated solution combining core banking and card program capabilities. The collaboration targets European banks and fintechs seeking to launch modern digital payment services faster. By combining Tuum's cloud-native core banking platform with Marqeta's card issuing technology, the partnership reduces integration complexity for clients.
Intesa Sanpaolo presented Isybank, its new cloud-native digital bank with multi-currency and multi-national capabilities. The mobile-first platform offers three account tiers, instant payments, salary advances, and recycled-material cards. Isybank represents a major embedded banking initiative from one of Italy's largest banking groups.
Backbase acquired UK-based digital wealth platform Nucoro in mid-June 2023 for undisclosed terms. The deal adds robo-advisory and investment management capabilities to Backbase's engagement banking platform, enabling banks to offer embedded investment services to their customers.
Wisetack announced a partnership with Citizens to expand its embedded financing platform for in-person services. The integration embeds pay-over-time options for home services, dental care, medical procedures, and car repair through APIs in merchant software. This partnership extends Citizens' reach into embedded lending via a fintech intermediary.
American Express and Plaid initiated an API-based data sharing integration to enhance secure customer connections to financial apps. The partnership improves digital banking security and transparency for Amex cardholders using third-party fintech applications.
FIS completed the acquisition of Bond, a Banking-as-a-Service startup founded in 2019, for an undisclosed sum. Bond had previously raised $42 million in total funding and was valued at $182 million during its 2020 Series A. FIS described the deal as a strategic move to close a gap in its embedded finance capabilities. The acquisition brings experienced BaaS professionals into FIS's organization.
Novo announced an integration with Gusto, combining banking and payroll services through an embedded payroll solution for small businesses. The partnership allows Novo's SMB customers to manage banking and payroll in a unified experience. This reflects the trend of neobanks embedding adjacent financial services to deepen customer relationships.
The FDIC, OCC, and Federal Reserve jointly finalized guidance on third-party risk management, published June 6, 2023. The guidance directly impacts BaaS banks and their fintech partnerships by establishing unified expectations for oversight of third-party relationships. It represents the most significant US regulatory framework development for embedded finance and BaaS in 2023.
Tap delivered a white-label Mastercard-powered prepaid card solution to Bitfinex, enabling the crypto exchange to offer branded payment cards to its users. The partnership demonstrates how card-issuing-as-a-service platforms enable crypto companies to embed traditional payment products. It highlights growing convergence between crypto platforms and embedded finance.
Knight Fintech's co-lending middleware platform reached a milestone of facilitating over 100,000 loans monthly and managing over Rs 12,000 crore in assets. The platform is used by over 40% of large Indian financial institutions, reducing integration time from 8-12 months to just 3 weeks.
Square, a subsidiary of Block Inc., began testing a credit card product aimed at its merchant sellers, expanding its embedded finance offering beyond payments into lending. The product is developed in partnership with American Express. This represents Square's deepening push into embedded financial services for SMEs.
Griffin, a UK-based Banking-as-a-Service startup, raised $13.5 million in Series A funding led by MassMutual Ventures. The round included participation from Seedcamp, Notion Capital, and EQT Ventures. Griffin had raised $35.7 million cumulatively by that point. The funding supports Griffin's efforts to build a full-stack BaaS platform.
The Bancorp Bank extended its private-label banking services agreement with Chime Financial, renewing its role in holding Chime member deposits and supporting FDIC-insured services. This continuation of one of the largest BaaS relationships in the U.S. underscores the ongoing importance of sponsor bank partnerships for leading neobanks. The deal reinforces The Bancorp's position as a top-tier BaaS provider.