Search Results for "Rize"
15 results for "Rize"
Deals 11
Telcoin Wins Nebraska Conditional Approval as First Digital Asset Bank
Telcoin received conditional approval from the Nebraska Department of Banking and Finance to become the state's first Digital Asset Depository Institution (DADI). This makes Telcoin the first regulated U.S. crypto bank explicitly authorized to connect consumers to decentralized finance. The approval positions Telcoin for potential access to the Federal Reserve payment system.
Fifth Third's Newline BaaS Platform Wins Most Innovative Financial Institution Award
Newline by Fifth Third, the bank's API-based embedded payments and deposits platform, was recognized as Most Innovative Financial Institution at the This Week in Fintech Awards. The platform was built following Fifth Third's acquisition of Rize Money in 2023. The award highlights Fifth Third's growing role as a BaaS provider offering embedded finance capabilities to fintechs and enterprises.
Mastercard Launches "Mastercard For Fintechs" Program in Western Europe
Mastercard launched its "Mastercard For Fintechs" program on June 5, 2024, targeting early-stage fintechs in Western Europe across payments, embedded finance, Web3, and banking/SME verticals. The program offers education, networking, competitions, and a €50,000 marketing prize plus fast-track access to Mastercard Start Path. It aims to support fintechs in Belgium, France, Italy, Luxembourg, Netherlands, Spain, and Portugal amid challenging fundraising conditions.
Synapse Files for Bankruptcy; TabaPay Plans Distressed Asset Acquisition
BaaS middleware provider Synapse filed for bankruptcy in April 2024 amid regulatory disputes, deposit insurance misrepresentations, and fund access problems for end users. TabaPay announced plans to acquire Synapse's assets and affiliates in a distressed deal. The collapse highlighted systemic risks in third-party BaaS oversight and followed similar exits by middleware platforms Rize, Apto Payments, and Bond.
Fifth Third Bancorp Acquires Rize Money to Boost Embedded Payments
Fifth Third Bancorp announced the acquisition of Rize Money, Inc., a fintech platform providing payment infrastructure and risk management via a single API. The deal strengthens Fifth Third's embedded payments business, which was already growing at double digits with projected annual revenue exceeding $130 million. This positions the bank to serve fintechs and technology companies seeking to offer financial products through their own platforms.
Rize and MX Partner to Provide Embedded Finance APIs for Fintechs
Embedded banking platform Rize and financial data platform MX announced a partnership to provide fintechs and neobanks with combined BaaS APIs. The integration enables faster development of financial products by pairing Rize's banking infrastructure with MX's data connectivity and insights. The deal aims to streamline the embedded finance stack for emerging financial services companies.
Rize Secures $11.4M Series A for Fintech-as-a-Service Platform
Rize, a full-stack fintech-as-a-service and BaaS platform providing banking infrastructure such as accounts, cards, and wires, raised $11.4 million in Series A funding. The round was co-led by Alpha Edison and Morpheus Ventures, with participation from several notable investors. Funds will enhance products for fintech builders seeking to embed banking services.
Nebraska Passes Law Authorizing Digital Asset Bank Charters
The Nebraska Legislature passed Legislative Bill 649 on May 20, 2021, adopting the Nebraska Financial Innovation Act. The law authorizes the chartering of Digital Asset Banks, making Nebraska the second U.S. state to create this type of financial institution. The charter is designed to allow banks to custody cryptocurrency.
Fidelity Digital Asset Services Granted NYDFS Trust Company Charter
The New York Department of Financial Services granted a limited liability trust company charter to Fidelity Digital Asset Services, LLC. The charter authorizes virtual currency custody and execution services for bitcoin. This positioned Fidelity as a regulated institutional-grade crypto custody provider in the embedded finance landscape.
MassChallenge FinTech Accelerator Launches Backed by Citizens Bank and Fidelity
MassChallenge announced a zero-equity fintech accelerator program sponsored by Citizens Bank, Fidelity Investments, MassMutual, and other financial institutions. The six-month program pairs later-stage fintech startups with industry leaders for co-development and product validation. It offers up to $250,000 in cash prizes and aims to foster fintech-bank partnerships.
UK Open Banking Launches on January 13, 2018 via API Standards
The UK's Open Banking initiative officially launched on January 13, 2018, requiring major banks to share customer data via APIs with authorized third-party providers. Banks including Barclays, HSBC, and RBS began enabling API access. This regulatory milestone laid the groundwork for embedded finance and BaaS innovation across the UK.
Regulatory Actions 4
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.
N/A — Industry-wide guidance
The FCA published Policy Statement PS25/12 on August 7, 2025, introducing strengthened safeguarding rules for authorized payment institutions and e-money institutions, effective May 7, 2026.
Enova International, Inc.
The CFPB fined Enova International $15 million for violating a 2019 consent order through unauthorized debits, failure to honor extensions, and misrepresentations under the Consumer Financial Protection Act. Enova faced a 7-year ban on certain short-term loans.
Nexus Independent Financial Advisers and Nexus Investment Managers
The FCA placed restrictions on Nexus Independent Financial Advisers and Nexus Investment Managers on January 25, 2023, halting regulated activities and asset access due to concerns over unauthorized fund withdrawals by a senior individual.