Search Results for "MIT"
29 results for "MIT"
Deals 20
Banco Ganadero Partners with TerraPay for Real-Time Remittances in Bolivia
Bolivian bank Banco Ganadero teamed with global payments infrastructure provider TerraPay to enable real-time remittances. The partnership brings faster cross-border payment capabilities to Bolivia. This expands TerraPay's footprint in the Latin American remittance corridor.
CommerceOne Acquires Green Dot Bank to Form Sponsor Bank Holding Company
CommerceOne Financial is acquiring Green Dot Bank's charter and ~$5 billion in assets to create a new publicly traded bank holding company. Simultaneously, Smith Ventures is acquiring Green Dot's non-bank fintech operations for $690 million. A seven-year exclusive agreement positions CommerceOne as the sponsor bank for the fintech business. The deals are expected to close in Q2 2026 pending regulatory approval.
OCC Grants Conditional Approval for Erebor Bank De Novo National Charter
The OCC granted conditional approval on October 15, 2025, for a de novo national bank charter to Erebor Bank, National Association, headquartered in Columbus, Ohio. The application was submitted by directors of Erebor Group, Inc. This full-service charter places Erebor under comprehensive federal regulation and OCC oversight.
Bank ABC Sponsors Fintech Forward 2025 to Advance MENA Digital Banking
Bank ABC became the Platinum Sponsor of Fintech Forward 2025, held October 8-9 in Bahrain. The sponsorship highlights the bank's commitment to digital transformation and fintech collaboration through its mobile-only bank, ila. The event focuses on Fin-AI integration and open banking in the MENA region.
Palmer Luckey's Erebor Digital Bank Awaits OCC Charter Approval
Erebor, the digital bank backed by Palmer Luckey, had not received OCC approval as of August 7, 2025, despite submitting its application in June 2025 with expectations of approval by late 2025. Industry experts suggested the timeline was unrealistically optimistic, noting that bank charter approvals typically take a year or longer.
Intellect Design Arena Launches eMACH.ai Banking Platform in South Africa
Intellect Design Arena launched its eMACH.ai platform for South African banks and financial institutions. The platform provides composable microservices and AI capabilities for transaction banking, cash management, and payments. The launch bolsters Intellect's commitment to the South African financial services market.
Circle, Ripple, Wise, and Erebor File OCC Bank Charter Applications
Circle, Ripple, Wise, and Erebor Bank submitted federal national bank or trust charter applications to the OCC. Trust charters limit activities to non-deposit and non-lending functions, while Erebor seeks a full-service charter with FDIC insurance. The filings reflect growing fintech demand for direct banking authority.
Stripe Receives Georgia Limited-Purpose Bank Charter Approval
Stripe received approval from the Georgia Department of Banking and Finance for a Merchant Acquirer Limited-Purpose Bank (MALPB) charter. This enables Stripe to process Visa and Mastercard transactions directly without a sponsor bank. It is only the third such charter granted, following Fiserv and Shift4.
Highnote and BVNK Partner for 24/7 Stablecoin Card Program Funding
Card issuing platform Highnote partnered with stablecoin infrastructure provider BVNK to enable 24/7 card program funding using stablecoins. The partnership allows card program managers to fund their programs around the clock, removing traditional banking hour limitations. This represents an emerging intersection of crypto-native infrastructure and embedded card issuing.
Fiserv Becomes First MALPB to Process Card Transactions in the U.S.
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.
Stripe Applies for Georgia MALPB Charter to Bypass Sponsor Banks
Stripe's application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter was accepted by Georgia's banking regulator in early 2025. The charter would allow Stripe to access Visa and Mastercard networks directly without a sponsor bank. No approval had been granted by April 2025, and the application remains pending.
Brightwell Integrates ReadyRemit With Q2 Digital Banking Platform
Brightwell announced integration of its ReadyRemit cross-border payments platform with Q2's digital banking platform via the Q2 Partner Accelerator program. The integration enables financial institutions to offer white-label remittance services directly within their digital banking apps. This provides banks a pre-integrated SDK for cross-border payments without custom development.
Boxo and Nium Launch White-Label Remittance Platform via SDK
Boxo partnered with Nium to offer a white-label remittance platform that mobile app developers can integrate via SDK. The solution enables seamless cross-border transfers within existing apps. The partnership was highlighted at the Singapore Fintech Festival 2024, targeting cost-effective embedded remittance for app ecosystems.
YouLend Secures $1B+ Financing Facility with Castlelake for US SMB Lending
Embedded finance platform YouLend announced a $1B+ financing facility backed by Castlelake to fund revenue-based lending for U.S. small businesses. The lending is embedded within e-commerce platforms such as Shopify and eBay. This significant capital commitment enables YouLend to scale its embedded SMB lending operations in the U.S. market.
Fiserv Wins Conditional Georgia Bank Charter for Payments Processing
Fiserv received conditional approval for a merchant acquirer limited purpose bank charter from the Georgia Department of Banking and Finance. The payments processor applied in January 2024 and can now pursue direct card network access. Full implementation is expected in 2025 pending satisfaction of unspecified conditions.
Brex Launches Brex Embedded API Platform for Global B2B Payments
Brex launched Brex Embedded, an API-driven payments platform enabling B2B software vendors to integrate virtual corporate cards for global payments without handling underwriting or credit risk. The platform targets procurement, travel, and ERP sectors with partners like Sabre and Coupa, offering virtual cards with up to 40x higher limits and support for local currencies in 50+ countries. It accelerates customer onboarding from months to days and automates reconciliation.
Sponsor Bank Stearns Bank Joins American Fintech Council
Stearns Bank, a Minnesota-based sponsor bank offering embedded banking solutions through fintech partnerships, became a member of the American Fintech Council (AFC). The move underscores Stearns Bank's commitment to BaaS innovation, compliance, and risk management within the fintech-bank partnership ecosystem.
Alloy Launches Audit Access Module for Sponsor Bank Compliance Oversight
Alloy introduced its Audit Access module within the Alloy for Embedded Finance product, enabling sponsor banks to better oversee fintech partners' compliance activities. The launch coincided with Alloy's 2024 State of Embedded Finance Report, which found that 80% of sponsor banks struggle with limited control over fintech partners. The tool addresses a critical pain point in BaaS compliance.
Brazilian BaaS Provider Celcoin Secures $125M Investment from Summit Partners
Celcoin, a Brazilian Banking-as-a-Service provider, announced a $125 million investment led by Summit Partners. The deal represents one of the largest BaaS-related funding rounds in Latin America in 2024. Celcoin provides financial infrastructure enabling businesses to embed banking services into their platforms in Brazil's rapidly growing fintech market.
Leap Financial and Mastercard Launch White-Label Embedded Remittance Solution for Latin America
Leap Financial and Mastercard launched a white-label embedded remittance solution enabling banks, fintechs, retailers, and telcos in Latin America to integrate a 'request remittance' button into their platforms. Powered by AI agent LOLA on WhatsApp, the solution targets the $155 billion U.S.-to-Latin America remittance market with instant disbursements and revenue-sharing models.
Regulatory Actions 2
Dinosaur Merchant Bank Limited
The FCA fined Dinosaur Merchant Bank Limited £338,000 for market abuse and systems failures. The firm was categorized under electronic money and payment institutions.
Viola Money (Europe) Limited
The FCA imposed requirements on Viola Money (Europe) Limited, an authorised electronic money institution, to cease all regulated electronic money and payment services on 14 December 2021 due to serious concerns about its business operations and client dealings.
Registry 7
Finverse Technologies Limited
HK · active · Payments, Accounts, Open Banking, KYC/AML
OnePipe Services Limited
NG · active · Payments, Accounts, Lending, KYC/AML, Open Banking, Core Banking
PayrNet Limited
UK · active_regulatory_scrutiny · Payments, Cards, Accounts, Open Banking
Thought Machine Group Limited
UK · active · Core Banking, Payments, Cards, Accounts, Lending, Savings
Token.io Limited
UK · active · Payments, Open Banking, Payment Orchestration
TrueLayer Limited
UK · active · Payments, Open Banking, KYC/AML
Unlimit BaaS
CY · active · Accounts, Payments, Cards, FX, Crypto