Search Results for "Solid"
15 results for "Solid"
Deals 14
FIS Completes Acquisition of Global Payments Issuer Solutions Business
FIS completed its strategic acquisition of Global Payments' issuer solutions business in January 2026. The deal strengthens FIS's card issuing and payment processing infrastructure. This consolidation in the issuer processing space has significant implications for banks and fintechs relying on these platforms for card issuance and BaaS capabilities.
BaaS Middleware Platform Solid Announces Wind-Down of Operations
Troubled BaaS middleware provider Solid announced it was shutting down operations in February 2025. The closure is part of a broader reckoning in the bank-fintech middleware space, which also saw Lewis & Clark exit BaaS. The move signals deepening challenges for intermediary platforms connecting fintechs and banks.
FDIC Proposes Revisions to Bank Merger Approval Policy
The FDIC proposed revisions to its policy on bank merger transactions, clarifying the approval framework for bank consolidations. Published in the Federal Register on April 19, the proposal could complicate large bank deals including those involving BaaS sponsor banks. The revisions signal heightened regulatory scrutiny of banking consolidation.
Capital One Announces $35 Billion Merger With Discover Financial
Capital One proposed a $35 billion merger with Discover Financial, which would create the nation's largest credit card issuer with 19% market share. The deal forced regulators to confront outdated bank merger policies unchanged for nearly 30 years. It highlighted consolidation pressures affecting the fintech-banking ecosystem.
Jack Henry Launches Banno Business Cloud-Native Platform for SMB Banking
Jack Henry announced Banno Business, a cloud-native business banking solution designed for community and regional financial institutions serving SMBs. The platform bundles cash management, payments, and commercial lending with embedded payment capabilities and integrates with Mastercard's Finicity for consolidated financial views.
American Fintech Council Expands Membership with Major BaaS Banks
The American Fintech Council announced a major membership expansion that includes multiple Banking-as-a-Service banks such as Evolve Bank & Trust, Portage Bank, and Customers Bank. The expansion signals broader industry consolidation around responsible fintech-bank partnerships. The AFC's growing membership reflects increased institutional engagement with BaaS governance and standards.
Clear Junction Acquires UK Crypto Fintech Altalix
Clear Junction, a payments infrastructure provider, acquired UK-based cryptoasset fintech Altalix. The deal expands Clear Junction's capabilities in crypto-related payment services. This reflects ongoing consolidation in the crypto-fintech space as regulated payment firms absorb specialized digital asset companies.
Veritex Community Bank Selects Finzly Payment Hub for BaaS Capabilities
Veritex Community Bank selected Finzly's cloud-native Payment Hub to consolidate ACH and Fedwire payments on a single platform. The deal includes future RTP and FedNow support, embedded treasury services via Q2, and BaaS capabilities for fintechs through a unified API. This partnership positions Veritex to serve as a banking-as-a-service provider for fintech companies.
Solid Raises $63M Series B for Embedded Fintech-as-a-Service Platform
Solid, an embedded fintech-as-a-service platform formerly known as Wise, closed a $63 million Series B round. The funding supports its platform enabling companies to embed banking, payments, and card services into their products via APIs.
Visa Completes Acquisition of Open Banking Platform Tink
Visa completed its acquisition of Tink, a European open banking API platform, solidifying its position in embedded finance infrastructure. The deal, originally announced in 2021 for approximately €1.8 billion, gives Visa access to Tink's connectivity to over 3,400 banks across Europe. This acquisition strengthens Visa's open banking and data-driven financial services capabilities.
Fintech Farm Raises $7.4M Seed to Launch Neobanks in Emerging Markets
U.K.-based Fintech Farm raised $7.4 million in seed funding led by Flyer One Ventures and Solid to launch neobanks in emerging markets including Nigeria and Azerbaijan. The startup uses a banking-as-a-platform middleware model, partnering with local banks in 50-50 equity splits to handle app development, customer acquisition, and credit decisions while banks provide licenses and capital. This approach enables rapid neobank launches without requiring Fintech Farm to hold its own banking license.
Curve Raises $55M Series B to Expand Card Consolidation Platform
London-based over-the-top banking platform Curve raised $55 million in a Series B round at a $250 million valuation. The round was led by Gauss Ventures with participation from Santander InnoVentures and others. Funds will support European expansion, new features, and a planned 2020 U.S. launch.
Global Payments and TSYS Announce $21.5 Billion Merger
Global Payments announced a $21.5 billion all-stock merger with Total System Services (TSYS), creating a combined payments technology company serving 3.5 million merchants and 1,300 financial institutions across over 100 countries. TSYS shareholders receive a 20% premium. The deal is part of a broader 2019 payments consolidation wave alongside FIS-Worldpay and Fiserv-First Data.
Fiserv Acquires First Data in $22 Billion Fintech Megadeal
Fiserv announced the acquisition of First Data for $22 billion, creating one of the largest fintech consolidations in payments and financial services. The deal integrates First Data's e-commerce payments capabilities with Fiserv's banking solutions for merchants and financial institutions. The combined entity aims to compete against embedded finance disruptors like PayPal, Stripe, and Square.