Corpay (CPAY) Conference Summary Company Overview - **Company**: Corpay (CPAY) - **Event**: Second Annual Jefferies Fintech Conference - **Date**: September 03, 2025 Key Points Industry Insights - **Focus on Corporate Payments**: Corpay is positioned as a leading non-bank FX provider, targeting middle-market companies with annual revenues around $500 million, which large banks typically overlook [24][25] - **Cross-Border Business Growth**: The company has been growing faster than the overall cross-border B2B market, indicating a strong competitive position [23] Financial Performance - **Q3 Trends**: The company is on track for mid-single digit growth in vehicle payments and expects to maintain this trajectory into Q4 [9][12] - **Vehicle Payments Revenue**: Projected to exceed $2 billion in 2025, with growth driven by U.S. vehicle payments at 5%, international vehicle payments at 10%, and Brazil at high teens [17][18] - **Corporate Payments Growth**: Expected to grow in the high teens, with a strong performance in cross-border payments [24][35] Strategic Initiatives - **Acquisition of Alpha**: A $2.2 billion deal set to close in Q4 2025, aimed at entering the institutional investment space and leveraging Alpha's unique offerings, such as virtual bank accounts [26][28] - **Partnership with Mastercard**: This partnership is designed to enhance Corpay's reach into financial institutions, potentially accelerating growth in corporate payments [34][35] Market Dynamics - **Brazilian Market Performance**: Brazil has shown strong organic growth, exceeding 20% in some quarters, with 40% of revenue now coming from extended network products [15][17] - **Lodging Segment Challenges**: The lodging segment is expected to perform below expectations due to reliance on emergency events and slower sales volume [52][53] Future Outlook - **2026 Growth Projections**: The company anticipates sustaining high teens growth in corporate payments and overall organic growth of 10% or greater, continuing a trend seen over the past five years [73][66] - **Divestiture Strategy**: Corpay is considering divesting non-core businesses to fund acquisitions like Alpha, emphasizing a strategic approach to capital allocation [74][76] Additional Considerations - **Blockchain and Stablecoin Integration**: Corpay is exploring blockchain technology and stablecoins as complementary to its business model, focusing on enhancing currency movement and foreign exchange services [42][45] - **Sales Strategy**: The company is in the early stages of cross-selling corporate payables into its fleet customer base, indicating potential for future revenue growth [60][61] This summary encapsulates the key insights and strategic directions discussed during the Corpay conference, highlighting the company's growth trajectory, market positioning, and future initiatives.

Core Insights - Nasdaq Verafin and BioCatch have formed a strategic partnership to enhance fraud detection capabilities in the financial services industry, addressing the growing challenge of payments fraud globally [1][4][6] - The partnership aims to integrate BioCatch's behavioral intelligence with Nasdaq Verafin's fraud detection platform, allowing financial institutions to take pre-emptive actions against fraudulent transactions [3][5] Industry Context - Financial crime, particularly payments fraud, is a multitrillion-dollar issue, with payments fraud and scams contributing to an estimated $486 billion in global fraud losses in 2023 [2] - The rise of faster and real-time payments has increased the risk of fraud, while traditional fraud detection methods are leading to a surge in false positive alerts, complicating investigations for banks [2][6] Partnership Details - The initial phase of the partnership will focus on integrating BioCatch alerts into the Nasdaq Verafin platform, enabling real-time decision-making and risk evaluation [3][5] - The collaboration will also involve additional product integrations, co-developed fraud solutions, and joint research initiatives [3][4] Technological Capabilities - BioCatch's platform analyzes up to 3,000 unique behavioral and device-related data points to differentiate between legitimate users and fraudsters [5][9] - Nasdaq Verafin's consortium data network is utilized by over 2,600 financial institutions, representing more than $10 trillion in collective assets, providing insights into fraud risk beyond individual institutions [4][8] Future Initiatives - The companies plan to host a series of webinars to provide further information about the partnership, with the first webinar scheduled for October 23, 2025 [7]

Core Insights - nCino, Inc. has announced the general availability of ProBanker by FullCircl, a solution aimed at enhancing client lifecycle management for regulated businesses [1] - ProBanker, developed in collaboration with Experian, addresses the need for faster and more accurate lending decisions in the financial services industry [2][3] Company Overview - nCino is a leading provider of intelligent banking solutions, helping financial institutions digitize and improve business processes [5] - The company has over 2,700 customers globally, including community banks, credit unions, and large financial entities [5] Product Features - ProBanker leverages Experian's commercial bureau data to provide near real-time visibility into commercial credit status, affordability, and liquidity [3] - The solution allows financial institutions to track opportunities and risks at both portfolio and individual levels, which is crucial in the current economic climate [3][4] Pilot Program Results - An initial pilot with a major UK bank revealed that ProBanker enabled the identification of potential credit risks six months earlier than existing processes [4] - The solution also supports customers eligible for extended or new funding products, enhancing overall lending capabilities [4] Strategic Importance - ProBanker aims to solve the fundamental challenge of assessing true customer risk and identifying opportunities with a comprehensive financial picture [4] - The collaboration between nCino and Experian is expected to modernize lending practices and improve transparency in the lending process [4]

Core Viewpoint - A class action securities lawsuit has been filed against Fiserv, Inc. alleging securities fraud that negatively impacted investors between July 24, 2024, and July 22, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Fiserv made false statements regarding its Clover platform, which was forced upon Payeezy merchants due to issues with the older platform [2]. - It is alleged that the revenue growth of Clover was artificially inflated by these conversions, masking a slowdown in acquiring new merchants [2]. - Following the conversions, many former Payeezy merchants reportedly switched to competitors due to Clover's high pricing and poor customer service [2]. - As a result of these merchant losses, Clover's growth in Gross Payment Volume (GPV) was said to be significantly slowing, leading to unsustainable revenue growth [2]. - The lawsuit contends that Fiserv's positive statements about Clover's growth strategies and business prospects were materially false and misleading [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified period have until September 22, 2025, to request to be appointed as lead plaintiff in the case [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4].

Core Insights - Mitsubishi UFJ Financial Group (MUFG) has closed a $75 million senior secured revolving credit facility for EarnIn, aimed at supporting the company's growth and expansion into innovative products like Live Pay [1][2] - The facility is designed to provide scalable and cost-effective capital to meet the increasing demand for streaming pay, enhancing EarnIn's ability to offer real-time access to earnings [2] Company Overview - EarnIn is a financial technology company focused on creating a more equitable financial system, offering services such as on-demand earnings, early paycheck access, and credit-building tools without interest or hidden fees [5] - The company allows workers to stream their earnings in real time, access paychecks up to two days early, and withdraw a portion of their earned wages before payday [6] MUFG Overview - MUFG is one of the largest global financial groups, with a history spanning over 360 years and a presence in more than 50 countries [3] - The group offers a wide range of financial services, including commercial banking, asset management, and securities, and aims to be the world's most trusted financial group [3][4]

Core Insights - Wedbush Securities has selected Broadridge Financial Solutions as its strategic technology platform provider to enhance its operations and support business growth in the fintech market [1][2] - The collaboration aims to integrate Broadridge's advanced trading and post-trade capabilities, which will help Wedbush modernize its operations and improve client engagement [2][3] Company Developments - The partnership with Broadridge is part of Wedbush's strategy to consolidate and automate operations, embracing innovation to attract the next generation of investors [2][3] - Broadridge's technology will provide Wedbush with features such as a unified wealth data layer, standardized APIs, and enhanced digital tools for advisors and investors [3][4] Industry Trends - The move reflects a broader industry trend towards digital transformation and operational consolidation, as firms seek to enhance client experiences and drive innovation [3][4] - Broadridge's platform supports the integration of third-party solutions and emerging asset classes, positioning Wedbush to adapt to evolving business needs [3][4]

Core Viewpoint - Momentum investing contrasts with the traditional "buy low and sell high" strategy, focusing instead on "buying high and selling higher" to capitalize on fast-moving stocks [1] Group 1: Momentum Investing Strategy - Momentum investing can be risky as stocks may lose momentum if future growth does not justify their high valuations [1] - A safer approach may involve investing in bargain stocks that have recently shown price momentum [2] Group 2: Stock Analysis - NCR Voyix (VYX) - NCR Voyix (VYX) has seen a price increase of 1.9% over the past four weeks, indicating growing investor interest [3] - VYX has gained 16.1% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [4] - The stock has a beta of 1.66, suggesting it moves 66% more than the market in either direction [4] - VYX has a Momentum Score of A, indicating a favorable time to invest [5] - The stock has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which attract more investors [6] - VYX is trading at a Price-to-Sales ratio of 0.68, indicating it is reasonably valued at 68 cents for each dollar of sales [6] Group 3: Investment Opportunities - VYX is identified as a strong candidate for investment, with potential for further price appreciation [7] - There are additional stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, suggesting more investment opportunities [7] - Zacks offers over 45 Premium Screens to help identify winning stock picks based on various investing styles [8]

Security Breach - Sinqia, a financial technology provider owned by Evertec, experienced a hacking incident [1] - The hackers attempted to steal approximately 420 million reais (approximately $77.4 million) [1] Impacted Institutions - Several Brazilian financial institutions, including HSBC's local operations, were targeted in the attack [1]

Core Viewpoint - Post-pandemic IPO activity has shown significant fluctuations due to economic uncertainty, rising interest rates, and inflation, but there has been a positive shift in the market with notable IPOs like CoreWeave (CRWV) and Circle Internet Group (CRCL) indicating renewed investor confidence [1][8] Group 1: CoreWeave (CRWV) - CoreWeave is backed by NVIDIA, which holds a $900 million stake, making it one of the largest investors [3] - The company has experienced a remarkable 300% year-over-year increase in sales, with a revenue backlog of $30.1 billion [4] - CRWV shares have appreciated by 150% since their debut, providing substantial returns to shareholders [5] Group 2: Circle Internet Group (CRCL) - Circle is a global fintech firm that issues USDC, the second-largest dollar-pegged stablecoin, facilitating digital currency transactions [6] - The company's shares have increased nearly 60% since their debut, although initial gains have diminished [6] - Circle's business model aims to transform traditional money into digital formats, enhancing global financial opportunities [6][10] Group 3: Market Trends - The IPO market is witnessing a resurgence in 2025, with CRWV and CRCL representing two significant IPOs that reflect a shift in market sentiment [1][11] - Both stocks have shown substantial gains since their initial offerings but remain below their peak values [8][11]

Fintechs Consider Raising Prices Due To JPMorgan’s Looming Fees https://t.co/6lQN2oC4iY https://t.co/I647JbA7SH ...