Finovate’s Credit Union Spotlight is back! This month at FinovateSpring – May 21 through May 23 – Finovate will host a special session to give leaders and professionals working at credit unions an opportunity to meet and network with their peers as well as with fintech innovators who are building solutions specifically for credit unions. Coordinated by Finovate Vice President and Director of Fintech Strategy Greg Palmer and Sam Das, Managing Director of TruStage Ventures, the Credit Union Spotlight gives those running credit unions the opportunity to speak freely and candidly about the chal ..read more

FIS unveiled its embedded finance platform, Atelio by FIS, this week. The platform leverages FIS’ existing technology to enable businesses to embed a variety of financial products and services into their offerings. FIS made its Finovate debut at FinovateSpring in 2013. Stephanie Ferris is CEO and President. FIS is the latest company to introduce a platform to make it easier for businesses and software developers to embed financial services and fintech solutions into their products and services. Atelio by FIS, launched this week, is one of the first banking-as-a-service offerings from a maj ..read more

In the fast-evolving world of fintech, founders are a breed apart, characterized by their unique blend of grit, determination, and adaptability. Their journeys are often marked by challenges, triumphs, and invaluable insights. In this series of interviews, we delve into the minds of five fintech founders to uncover the lessons they’ve learned, the key traits they believe are essential for a successful founding team, and the distinctive challenges and opportunities they’ve encountered on their entrepreneurial paths. Join us as we explore the stories and experiences that have shaped these inno ..read more

Expensify is teaming up with Spotana to launch Expensify Travel, a business travel booking platform based on Spotanas Travel-as-a-Service offering. The new travel service will offer Expensify’s business users access to global travel inventory, lower fares, and servicing. Expensify’s new launch makes it a direct competitor with California-based Navan, a corporate travel and expense management platform that launched in 2015. Business expense management company Expensify announced the upcoming addition of a new set of capabilities today, which will make it a more robust platform to help busin ..read more

U.K.-based fintech SumUp has raised $1.6 billion (€1.5 billion) in a private credit debt transaction. The deal was led by Goldman Sachs Asset Management, and will enable SumUp to refinance debt and pursue international growth opportunities. SumUp won Best of Show at FinovateEurope 2013, a year after the company was founded. In a deal led by Goldman Sachs Asset Management, U.K.-based fintech SumUp has secured $1.6 billion (€1.5 billion) in a private credit debt transaction. The financing will enable SumUp to refinance current debt as well as take advantage of growth opportunities around the ..read more

PNC and TCW have partnered to deliver a private credit solution. The solution will leverage TCW’s loan origination, underwriting, and portfolio management expertise and will tap PNC’s extensive client relationships. The two will offer directly originated, secured cash-flow and asset-based loans to middle market companies. Financial services company PNC and TCW, a leading global asset manager have teamed up this week to deliver a private credit solution to middle market companies. The two will leverage TCW’s loan origination, underwriting, and portfolio management expertise and will tap PNC ..read more

FinovateSpring 2024 is only a few weeks away! If you haven’t picked up your ticket, there’s still time to take advantage of early-bird savings if you register by this Friday, May 10. This year’s FinovateSpring arrives at an interesting time for fintech and financial services. For the first time in decades, a new emerging technology – AI – promises to accelerate technological innovation in our space in a way that is truly generational. At the same time, governments and regulators are struggling to keep up with an ever-shifting, ever-growing landscape of financial products and services. Add to ..read more

Canada-based Beem Credit Union has partnered with VeriPark to become the most “digital-first, people-first” credit union in the province of Vancouver. VeriPark offers an Intelligence Customer Experience Suite that provides tools to enhance branch automation, lending, and customer engagement. Headquartered in London, VeriPark made its Finovate debut at FinovateMiddleEast 2019 in Dubai. The latest fintech news from Canada involves a May-December relationship between a credit union that’s less than a year old and a fintech that’s been around since the dot.com days. British Columbia, Vancouver ..read more

A look at the companies demoing at FinovateSpring in San Francisco on May 21 and 22. Register today using this link and save 20%. TRIYO TRIYO extracts and structures work data for end-to-end visibility, reducing operational risk and empowering AI and predictive analytics to fuel automation and drive informed decision making. Features Offers real-time monitoring, analytics, and 360° view Collects work data from different systems, forms, and off-platform activity with API-first approach Provides data for training internal AILLM tools Who’s it for? Banks, credit unions, wealth ..read more

Robinhood has received a Wells Notice from the U.S. SEC. In the Wells Notice, the SEC staff alleged Robinhood violated Sections 15(a) and 17A of the Securities Exchange Act of 1934. Robinhood Markets Chief Legal, Compliance, and Corporate Affairs Officer Dan Gallagher said that he is “disappointed” with the Wells Notice. “We firmly believe that the assets listed on our platform are not securities,” he said. Stock brokerage app Robinhood is feeling the heat from the U.S. Securities and Exchange Commission (SEC) today. The California-based company revealed in a blog post over the weeken ..read more