Search Results for "Unit"
26 results for "Unit"
Deals 20
Avalara Launches Embedded Working Capital Solution for Businesses
Avalara announced the availability of Avalara Capital, an embedded working capital solution integrated into its tax and compliance platform. The product helps businesses access fast funding to address tax debt, seasonal cash flow gaps, and growth opportunities. It represents a notable entry of a compliance-focused SaaS company into embedded finance.
Unit21 Partners with Helix by Q2 for AI-Driven AML in BaaS
Unit21 announced a partnership with Helix by Q2 to deliver AI-driven AML workflows and sponsor bank oversight for BaaS programs. The integration allows sponsor banks and fintechs on Helix's cloud-native core banking platform to leverage Unit21's AI risk infrastructure for configurable AML monitoring, investigations, and reporting. The deal addresses rising regulatory scrutiny on BaaS sponsor banks by reducing manual compliance effort and enabling faster fintech onboarding.
Kinective Partners with PayNearMe to Expand Payment Solutions
Kinective partnered with PayNearMe in March 2026 to expand payment solutions for banks and credit unions. Kinective Gateway will provide financial institutions access to fintech solutions through a portfolio of core and business services. The partnership aims to broaden the range of payment capabilities available to community banks and credit unions.
b1Bank Partners with Covecta to Deploy AI Agents for Banking Operations
Louisiana community bank b1Bank partnered with UK fintech Covecta to implement AI agents that automate deposit and loan operations. The system is forecasted to go live approximately eight weeks from agreement. This partnership signals growing AI adoption among community banks.
American Fintech Council Backs Bank-Fintech Partnership Enhancement Act
The American Fintech Council publicly urged passage of the Bank-Fintech Partnership Enhancement Act (H.R. 6552), calling for a federal study on bank-fintech partnerships' impacts on community banks, innovation, and consumer protection. The advocacy effort highlights growing legislative attention to the regulatory framework governing BaaS and embedded finance relationships.
Celero Commerce Expands White-Label Payment Solutions for Community Banks
Celero Commerce is offering white-labeled payment solutions and merchant referral programs to community banks, helping them grow non-interest income. The scalable processing platform enables small banks to serve small business merchants without building payments infrastructure. The initiative reflects a 2025 push for community bank-fintech collaboration.
First Fed Bank Launches Apiture-Powered Digital Business Banking Platform
First Fed Bank launched a new digital banking platform powered by Apiture, enhancing its business banking experience for customers of all sizes. The partnership provides First Fed with a modern digital banking infrastructure. Apiture continues to expand its community bank and credit union client base.
Thread Bank Selects Finxact from Fiserv for Embedded Banking
Thread Bank chose Finxact from Fiserv as its core banking platform to power embedded banking strategies for community banks. The API-first platform will be integrated with Infinant's Interlace Platform for a modern embedded and core banking experience alongside payment processing.
Modak Partners with Legend Bank as BaaS Sponsor Bank
Modak, a family financial literacy fintech, announced Legend Bank, N.A. as its new BaaS sponsor bank, effective June 2025. Legend Bank provides the regulated banking infrastructure behind Modak's parent accounts and youth debit card program. The Texas-based community bank, with over $1.1 billion in assets, supports fintechs through its embedded banking solutions division.
Moka United Selects Algbra Labs to Launch RUUT Digital Bank in UK
Moka United selected Algbra Labs to introduce its digital banking brand RUUT to the UK market, targeting the Turkish diaspora. The partnership aims to deliver a fully operational platform within six months.
Unit Launches Ready-to-Launch Embedded Capital, Banking, and Bill Pay Solutions
Unit announced ready-to-launch white-label embedded capital, banking, and bill pay products designed for SaaS platforms. The solutions enable companies to deploy a full money dashboard in as little as three weeks with minimal coding. Unit reports it has already enabled 50,000 businesses to access better financial services through its platform.
Treasury Prime Partners with First Credit Union to Expand Embedded Banking
People Trust Community FCU joined the Treasury Prime Network as its first credit union partner, expanding embedded banking access to mission-driven, community-based institutions. The partnership marks Treasury Prime's expansion beyond traditional bank partners into the credit union sector. This move aims to advance financial inclusion through embedded banking infrastructure.
OatFi Raises $24M Series A for Embedded B2B Credit Infrastructure
US-based OatFi secured $24M in Series A funding led by White Star Capital to build API-first embedded credit infrastructure for B2B payments. The platform integrates with AP/AR systems and partners like Unit, Transcard, and Galileo. Proceeds will accelerate product development targeting the $35 trillion US B2B payments market.
Glide Raises $15M Series A to Power Embedded Account Opening for Banks
Glide raised a $15 million Series A to expand its embedded deposit origination platform for community banks and credit unions. The platform reduces account opening time from 20 minutes to under 3 minutes and boosts onboarding rates by 3x. Glide supports all account types via seamless integration into existing banking systems.
Bottomline Embeds Paymode Payments Network into Digital Banking Platforms
Bottomline launched an embedded integration of its Paymode business payments network into commercial digital banking platforms. Paymode processes $450 billion annually and serves over 440,000 businesses. The integration offers in-app supplier self-enrollment, rebates, fraud reduction, and new revenue opportunities for banks.
Bangor Savings Bank Joins American Fintech Council to Advance Embedded Finance
Bangor Savings Bank joined the American Fintech Council on April 22, 2025, to advance embedded finance solutions. The bank aims to leverage fintech partnerships for customer-centric banking, card payments, and digital tools including its Buoy Local® rewards app. The move signals growing community bank engagement with the embedded finance ecosystem.
Dart Bank's WestTown Payments and Jaris Launch Dart360 Merchant Platform
Dart Bank's WestTown Payments division partnered with Jaris to launch Dart360, a modernized merchant onboarding and financial services platform. The platform aims to streamline how merchants access payment processing and embedded financial products. This partnership illustrates how community banks are leveraging fintech partnerships to compete in embedded finance.
SmartBiz Loans Completes Acquisition of Centrust Bank With OCC Approval
SmartBiz Loans, a fintech small business lending marketplace, completed its acquisition of United Community Bancshares and its subsidiary Centrust Bank (now renamed SmartBiz Bank). The deal, approved by the OCC and Federal Reserve, involved a bank with $148 million in assets. This rare fintech acquisition of a bank charter positions SmartBiz to expand into nationwide small business lending and planned national deposit products.
Dave and Coastal Community Bank Announce Strategic BaaS Partnership
Dave Inc. and Coastal Community Bank's CCBX division announced a strategic BaaS sponsor bank partnership. Coastal Community Bank will serve as the sponsor bank for Dave's banking products and the new ExtraCash product. Customer onboarding is expected to begin in Q2 2025, targeting underbanked communities.
ConnectOne Bancorp and First of Long Island Shareholders Approve Merger
Shareholders of ConnectOne Bancorp and The First of Long Island Corporation approved their proposed merger, expected to close in Q2 2025. The combination creates a larger community banking platform in the New York metro area. The merged entity could become a more competitive sponsor bank partner for fintechs.
Regulatory Actions 3
N/A — Industry Guidance
Federal banking agencies (Federal Reserve, OCC, FDIC) issued joint guidance in August 2021 advising community banks on conducting due diligence when entering fintech partnerships. The guidance emphasizes risks including legal/regulatory compliance, AML, consumer protection, and contract terms.
Industry-Wide
The Federal Reserve published a guide in August 2021 for community banks on conducting due diligence for fintech third-party relationships. The guide covers legal compliance, risk management processes, contract provisions for audits, and consumer protection alignment.
Industry-Wide (All FDIC-Supervised Banks)
The FDIC finalized a new brokered deposits rule on December 15, 2020, that excluded certain fintech-bank arrangements from brokered deposit restrictions. The rule was supportive of BaaS partnerships rather than punitive.