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
PayMongo, a Philippine online payment provider, raised $2.7 million from strategic investors including Stripe, Peter Thiel's Founders Fund, and Y Combinator. The investment highlights Stripe's strategy of backing embedded payments infrastructure in emerging markets. PayMongo aims to simplify online payments for businesses in the Philippines.
Entities: PayMongo · Stripe · Founders Fund · Y Combinator
Deutsche Bank acquired a 4.9% stake in Deposit Solutions, a fintech company that operates an open banking platform for deposit products. The investment amount was not disclosed. The strategic stake signals Deutsche Bank's interest in leveraging fintech infrastructure to expand its deposit marketplace capabilities.
Stripe raised a $250 million funding round at a $35 billion pre-money valuation. The raise came shortly after the launch of Stripe Capital and amid Stripe's broader push into embedded financial services. The funding underscored investor confidence in Stripe's expanding platform beyond core payments.
Wallit, rebranded from Ourly, raised $2.6 million in funding to support its white-label rewards-savings platform for banks and credit unions. The app targets millennials and Gen Z to drive deposits and customer loyalty. The company partners with financial institutions to offer branded savings experiences.
Visa and Mastercard both made strategic investments in Plaid as part of its $250 million Series C round, valuing the fintech infrastructure company at $2.65 billion. Plaid provides APIs that connect fintech apps to users' bank accounts, serving 80% of major fintech firms including Venmo, Robinhood, and Chime. The co-investment by both card networks signals their intent to benefit from the growth of the fintech ecosystem reliant on bank-account connectivity infrastructure.
Stripe launched Stripe Capital, an embedded lending product offering instant merchant cash advances of $5,000–$25,000 to U.S. merchants on its platform. Repayments are collected as a fixed percentage of future sales with a flat 10% fee. The product leverages Stripe's payment data for underwriting, bypassing traditional credit checks, and is funded through an unnamed bank partner.
Scalable Capital partnered with Raisin to offer white-label fixed-term deposit products from over 20 European banks via Baader Bank. The integration allows Scalable Capital's portfolio customers to access competitive savings rates across multiple banks. This represents a significant embedded finance collaboration in the European savings market.
Stripe announced a corporate credit card for its business clients in September 2019, further expanding its embedded financial services offerings beyond payments and lending. The move positioned Stripe alongside competitors like Brex and Square in the corporate card space.
PNC Bank launched numo, an internal fintech startup program designed to foster innovation within the bank. Its first product, indi, is a mobile banking account tailored for gig workers with features like tax calculations and no monthly fees. The initiative represents a bank-led embedded finance approach with a pre-negotiated equity split between PNC and numo employees.
Fintech AvidXchange announced the acquisition of BankTEL Systems, which serves approximately 20% of U.S. banks. The deal combines BankTEL's bank accounting tools with AvidXchange's AvidPay Network of over 500,000 suppliers. The acquisition positions AvidXchange as a dominant provider of invoice-to-payment automation for the financial services industry.
Trade Republic Bank closed a €10 million Series A funding round to support its expansion across Europe. The licensed fintech bank offers commission-free stock trading. The funding underscored growing investor appetite for licensed fintech-bank models in the European market.
BMO Bank of Montreal announced an expanded partnership with fintech platform Blend to enhance the bank's technology and improve customer experience. Blend provides a digital lending platform that banks embed into their operations. The deepened relationship demonstrates the growing trend of major banks partnering with fintech infrastructure providers to modernize their customer-facing services.
Mastercard acquired Nets' Corporate Services division, adding real-time payment capabilities and marking its fourth fintech acquisition of 2019. The deal positions Mastercard as an enhanced partner for banks seeking embedded payment infrastructure. This aggressive acquisition strategy underscores card networks' push into BaaS-adjacent services.
The Federal Reserve announced it will develop the FedNow Service, a new real-time payment and settlement system. The service aims to provide 24x7x365 instant payment infrastructure for depository institutions. This foundational infrastructure decision has significant implications for BaaS providers and embedded finance platforms that rely on real-time payment rails.
ABN AMRO integrated Tink's account aggregation technology into its Grip personal finance app, enabling users to view accounts from multiple Dutch banks via PSD2 APIs. Grip became one of the first apps in the Netherlands to leverage open banking, broadening its reach beyond ABN AMRO customers to its 700,000+ user base.
Gateway First Bank (formerly a mortgage company) completed its acquisition of Farmers Exchange Bank, creating a full-service chartered bank with $1.2 billion in assets and five banking centers in Oklahoma. The acquisition enabled Gateway's transition to a chartered bank, positioning it as one of Oklahoma's largest banks by assets. The combined entity planned core system migration to FIS and a new loan origination partner rollout in summer 2019.
Entities: Gateway First Bank · Farmers Exchange Bank · FIS
Core banking provider Temenos announced its acquisition of Kony, a mobile app development platform used by digital banking clients, for $559 million plus a $21 million earn-out. The deal was expected to close in Q4 2019. The acquisition strengthened Temenos' digital front-office capabilities for banks seeking to modernize their customer-facing channels.
Citi provided white-label banking services through API-powered partnerships, notably powering the Qantas Money mobile app in Australia. The app gave customers online banking access to co-branded Qantas credit cards. This represents an early example of a major global bank offering embedded banking-as-a-service capabilities to a non-bank brand.
Visa launched its Fintech Fast Track program in the U.S. on July 31, 2019, enabling fintech startups to integrate with VisaNet more quickly. The program partners with major VCs like Andreessen Horowitz and Ribbit Capital, and includes BaaS providers Green Dot and BBVA Open Platform. It targets fintechs in payments, lending, and money management, offering simplified access to Visa's network, security, and global reach.
Entities: Visa · Green Dot · BBVA Open Platform · Andreessen Horowitz · Nyca Partners · Ribbit Capital · Trinity Ventures
Business challenger bank Valt Bank received conditional approval for a U.S. bank charter in July 2019. The approval signals continued regulatory openness to fintech-driven banking entrants seeking national licenses. This positions Valt Bank among a small cohort of digital challengers pursuing full banking charters in the U.S.
OnDeck hired a bank veteran to lead sales and strategy for ODX, its bank-facing lending-as-a-service platform. ODX enables banks to offer small business lending powered by OnDeck's technology and underwriting. This move signaled OnDeck's deepening commitment to embedded lending through bank partnerships.
Berlin-based mobile bank N26 raised a $170 million extension to its Series D round, bringing total Series D funding to $470 million and valuing the company at $3.5 billion. The raise cemented N26's position as one of Europe's most valuable fintechs.
First Associates, a loan servicer for fintech lenders, merged with Portfolio Financial Servicing Company following a recapitalization backed by Stone Point Capital. The combined entity creates a larger loan servicing platform supporting fintech lending programs. This deal strengthens back-office infrastructure that underpins fintech-bank lending partnerships.
Entities: First Associates · Portfolio Financial Servicing Company · Stone Point Capital
Cloud banking platform nCino acquired Visible Equity, a provider of analytics and compliance tools for banks and credit unions. The deal enhances nCino's cloud-based operating system for financial institutions with deeper data insights and regulatory compliance capabilities. It reinforces nCino's position as a key infrastructure provider for digitizing bank operations.