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
Denver-based Transact Bank selected Fiserv's Precision core banking platform on July 30, 2020, to support its new focus on domestic and cross-border payment processing and card issuing services. The partnership provides Transact Bank with modern core infrastructure to enable BaaS-style payment and card programs. This positions Transact Bank as a potential partner bank for fintechs requiring payment and card issuing capabilities.
Circle raised $25 million from Digital Currency Group to enhance its Platform Services suite, which provides businesses and developers with APIs for USDC stablecoin integration in payments, commerce, and financial applications. The funding supports yield and lending services built on stablecoin infrastructure.
Entities: Circle · Digital Currency Group · Genesis
Fasspay obtained Bank Negara Malaysia's approval to expand its white-label e-wallet service with increased transaction limits and new card capabilities. The approval enables Fasspay to issue physical Visa-branded prepaid cards, virtual cards, and supplementary account features linked to e-wallet applications. As one of the first regulated white-label e-wallet providers in Malaysia, this strengthens Fasspay's position as a BaaS infrastructure provider with four e-wallet partners.
Nium integrated with Google Pay on July 29, 2020, enabling its card users to make contactless payments via Android devices at Visa merchants worldwide. The integration allows Nium's BaaS card-issuing clients to offer Google Pay compatibility to their end users. This partnership extends Nium's embedded finance reach by connecting its card infrastructure to a major mobile payments ecosystem.
Enova International announced the acquisition of OnDeck, a fintech small business lender, in a $90 million cash-and-stock deal. The acquisition includes OnDeck's ODX bank platform, which enables banks to offer digital small business lending. This combination creates a leading fintech company serving both consumers and small businesses in markets underserved by traditional banks.
Paynetics, phyre, and Bulgarian telecom VIVACOM launched one of Europe's first Digital First Mastercard payment cards in Central and Eastern Europe. VIVACOM became the first telecom in the region to issue such a card. The partnership exemplifies embedded finance by integrating payment services into a telecom platform.
Revolut raised an $80 million extension to its prior $500 million funding round at a $5.5 billion valuation, led by TSG Consumer Partners. The digital banking platform serves over 12 million customers with money transfers, budgeting tools, and expanding financial services, bringing total funding to over $900 million.
Finzly launched a fully automated consumer digital account opening process via its cloud-based BankOS platform. The solution enables financial institutions to offer seamless digital banking onboarding. It also allows rapid integration of third-party fintech solutions, advancing BaaS capabilities for banks.
Plum raised $10 million led by Global Brain and the European Bank for Reconstruction and Development, with UK Future Fund matching. The smart money management app focuses on financial resilience and European expansion, bringing total funding to $19.3 million.
Entities: Plum · Global Brain · European Bank for Reconstruction and Development · UK Future Fund
Mastercard and WeLab Bank announced a partnership to launch a numberless debit card in Hong Kong on July 20, 2020. The card delivers a fully digital banking experience by removing printed card numbers for enhanced security. WeLab Bank is one of Hong Kong's new virtual banks, and the partnership with Mastercard extends embedded card services into the digital-first banking segment.
Bond Financial Technologies, a BaaS platform enabling sponsor banks to onboard and scale brand partners, raised $32 million in Series A funding. The round was led by Coatue with participation from Goldman Sachs and Mastercard. The investment positions Bond to help banks navigate credit losses and low interest rates through fintech partnerships.
Educational Systems Federal Credit Union went live on Finastra's Fusion Digital Banking platform on July 15, 2020. The deployment provides open banking integration and core-agnostic digital banking services during a core system migration, showcasing Finastra's embedded open banking capabilities.
Entities: Finastra · Educational Systems Federal Credit Union
Opera announced its intention to acquire AB Fjord Bank on July 9, 2020, subject to regulatory approval, to launch fintech services in Europe. Fjord Bank is a specialized bank preparing to offer deposit and loan products in Lithuania. The acquisition positions Opera, known for its web browser, to enter embedded financial services through a licensed banking entity.
Deutsche Bank entered a multi-year strategic partnership with Google Cloud to modernize its technology infrastructure. The agreement covers cloud migration, co-innovation on new products, and digital transformation of banking systems. The deal followed five months of negotiations and represents a major step in Deutsche Bank's digitization strategy.
UMB Bank's Institutional Banking division announced continued growth of its Banking-as-a-Service (BaaS) offering, enabling fintechs to offer branded banking products through UMB's regulated infrastructure. The expansion highlights UMB's role as a sponsor bank for fintech companies seeking to embed financial services. This positions UMB as a growing player in the BaaS market.
Cloud banking platform Mambu integrated with Currencycloud to offer transparent and scalable international payments capabilities to its clients. The partnership enables collections, virtual accounts, payments, FX, and card spend capabilities via APIs, effectively creating a banking-in-a-box offering.
MANTL closed a $40 million Series B funding round to expand its white-labeled digital account-opening platform for legacy banks and credit unions. The platform automates application decisioning for over 90% of cases through web and mobile portals. This funding enables MANTL to help more community banks compete with digital-first challengers by embedding modern onboarding technology.
German Banking-as-a-Service provider SolarisBank closed an oversubscribed €60 million Series C round led by HV Holtzbrinck Ventures. New investors include Vulcan Capital, Samsung Catalyst Fund, and Storm Ventures, alongside existing backers BBVA, ABN Amro, and others. The funds will accelerate European expansion, platform development, and regulatory capital strengthening.
Entities: SolarisBank · HV Holtzbrinck Ventures · Vulcan Capital · Samsung Catalyst Fund · Storm Ventures · BBVA · ABN Amro · Yabeo · SBI Group · Global Brain · Lakestar
Qolo launched its B2B payments hub offering card processing, cross-border FX, neobanking with prepaid and debit cards, and flexible account structures. The platform targets gig economy payouts and marketplace disbursements. Qolo's embedded banking and payments infrastructure positions it as a BaaS provider enabling fintechs and enterprises to offer financial services without building from scratch.
Mastercard announced plans to acquire Finicity, a leading North American open banking provider, to strengthen its open banking platform. The acquisition supports financial institutions and fintechs by enabling secure data sharing. This deal significantly expands Mastercard's embedded finance and open banking capabilities.
Cross River Bank announced a BaaS sponsor bank partnership with F1 Payments and RS2 to provide payment processing services for merchants in North America. The partnership leverages RS2's global processing platform and Cross River's BaaS sponsorship. This enables F1 Payments to expand into traditional merchant acquiring for both physical and virtual businesses.
Goldman Sachs partnered with Amazon to offer lines of credit up to $1 million to Amazon merchants through an automated lending platform. The deal represents a significant embedded finance arrangement where Goldman provides banking services directly within Amazon's marketplace ecosystem. This marks a major step in bank-powered embedded lending for e-commerce.
Neptune Networks, a bond market data platform, closed a $15 million funding round backed by 13 major banks including Goldman Sachs, J.P. Morgan, and Citi. The platform provides real-time axe and inventory data via API connectivity. The investment signals banks' commitment to embedded financial data infrastructure.
Entities: Neptune Networks · Bank of America · Barclays · BBVA · BNP Paribas · Citi · Crédit Agricole CIB · Credit Suisse · Deutsche Bank · Goldman Sachs · ING · J.P. Morgan · Morgan Stanley · UBS
Saxo Bank announced white-label partnerships with five Danish banks—Sparekassen Vendsyssel, Sparekassen Thy, Middelfart Sparekasse, Frøs Sparekasse, and Jutlander Bank—via integration with SDC, serving 500,000 clients collectively. The banks gain access to Saxo's trading and investment platforms under their own branding. This deal highlights the white-label BaaS model enabling smaller banks to compete digitally without heavy IT investment.
Entities: Saxo Bank · SDC · Sparekassen Vendsyssel · Sparekassen Thy · Middelfart Sparekasse · Frøs Sparekasse · Jutlander Bank