Core Insights - SoFi's Galileo platform is a foundational pillar in fintech infrastructure, driving innovation and powering millions of accounts in 2025 [1] - Galileo's Technology Platform segment shows steady revenue growth due to client expansion and entry into new segments [1][6] Platform Capabilities - Galileo offers a unified, API-first platform that integrates digital banking, card issuing, payments, fraud detection, and compliance [2] - The platform's programmable architecture allows fintechs to issue virtual and physical cards, manage account lifecycles, and execute secure payments [2] - Developer tools include sandbox environments, event APIs, dispute management, and real-time transaction controls, enhancing product innovation and operational efficiency [2] Innovations and Client Growth - The Cyberbank Konecta AI-powered virtual assistant enhances customer support, reduces operational costs, and improves user experience [3] - Galileo's client base includes major financial institutions like Banco Nación in Argentina, contributing to strong organic client growth [3] Competitive Landscape - Peers Adyen and Marqeta provide competitive fintech solutions, with Adyen focusing on end-to-end payment processing and Marqeta specializing in modern card issuing [4] - Adyen offers omni-channel payment flexibility and fraud management, while Marqeta's open APIs allow for instantaneous card issuance and spend controls [4] Industry Positioning - Together, SoFi's Galileo, Adyen, and Marqeta represent leading fintech infrastructure platforms, with Galileo emphasizing deep integration and AI-powered innovation [5] - Galileo is positioned as a critical enabler for fintechs developing the next wave of financial products [5]

Core Viewpoint - Upstart's shares experienced a significant decline in September due to concerns over rising delinquency rates on its loans, influenced by third-party market research and signs of a weakening economy [1][5]. Group 1: Stock Performance - By the end of September, Upstart's stock had fallen 31%, with most of the decline occurring towards the end of the month [3]. - The stock's worst day was on September 10, when it dropped 9.4% following the bankruptcy of Tricolor Holdings, a used-car dealer that lends to borrowers with no credit [6]. - After a brief recovery due to the Federal Reserve's rate cut on September 17, the stock began to slide again as credit concerns resurfaced, culminating in an 8% drop on September 29 after a note from BTIG regarding increased delinquencies [7]. Group 2: Market Context - The sell-off in Upstart's stock was primarily driven by a deteriorating credit picture for low-income Americans, which is a core market for the company [5]. - Other fintech stocks, particularly in the Buy Now Pay Later (BNPL) sector, also experienced declines due to rising credit risk concerns [2]. - The bankruptcy of Tricolor Holdings, although not directly connected to Upstart, negatively impacted credit markets and contributed to the volatility of Upstart's stock [6]. Group 3: Company Communication - There has been no direct communication from Upstart regarding the impact of changing credit markets on its business, despite management's participation in a Goldman Sachs conference on September 9 [8].

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. DailyPay named Chairman Nelson Chai its chief executive officer this week after 10 months as a director of the earned wage access firm. Chai is the former chief financial officer of Uber Technologies, where he worked for five years, and held the same title at Merrill Lynch and the New York Stock Exchange. He is also a former CEO of insurance company The Warranty Gr ...

Core Insights - Sagtec Global Limited has entered a strategic partnership with HM Edutech Group to develop the HMS Data Analysis System, an AI-powered SaaS platform for financial data analytics and education solutions [1][2] - The collaboration aims to create a scalable SaaS product for both institutional and retail users, with Sagtec expecting to generate USD $1 million in upfront development revenue and participate in a profit-sharing model based on subscriber growth [2][3] - The platform is set to launch in Q2 2026 and will offer real-time analytics, predictive modeling, and financial education tools, aligning with Sagtec's strategy to diversify into SaaS recurring revenue streams [3][4] Company Overview - Sagtec Global Limited is a provider of customizable AI and automation platforms, initially focused on the F&B sector but now serving various industries with its Robotics-as-a-Service (RaaS) and AI software stack [5] - The company operates a nationwide network of mobile charging stations through its subsidiary, CL Technology (International) Sdn Bhd [5] Market Context - The global financial analytics software market was valued at USD $7.6 billion in 2020 and is projected to reach USD $19.8 billion by 2030, growing at a CAGR of 10.3%, indicating a significant opportunity for Sagtec in the fintech sector [4]

Core Insights - Lisk has launched a $15 million initiative, the Lisk EMpower Fund, to support Web3 startups in Africa, Latin America, and Southeast Asia, aiming to counter the saturated Western venture capital market [1][2] - The fund will provide up to $250,000 in capital per startup, along with advisory services on regulatory compliance, tokenization, and fundraising strategies [2][5] - Lisk's strategy focuses on identifying value in regions often overlooked by global VCs, with a belief that necessity-driven entrepreneurship leads to more resilient founders [3][4] Investment Opportunity - Emerging markets present an estimated $5.2 trillion untapped investment opportunity, with historical venture returns averaging 9–11% annually over the past 15 years [4] - Many founders in these regions often bootstrap to Series A traction without institutional support, which Lisk views as a positive indicator of resilience [4][5] Early Recipients - Initial beneficiaries of the fund include startups like Lov.cash (South Africa), Afrikabal (agritech), IDRX (Indonesia), and SigraFi (gold-backed lending), showcasing a diverse range of sectors [3][6] - The CEO of Afrikabal highlighted the transformative impact of the fund, providing capital, credibility, and community support [6]

FG Nexus to also become the first to bring a dividend-paying preferred equity (Nasdaq: FGNXP) fully onchain, bringing programmable ownership and real-time settlement to equity markets CHARLOTTE, NC & MIAMI, FL, Oct. 02, 2025 (GLOBE NEWSWIRE) -- FG Nexus (Nasdaq: FGNX, FGNXP) (“FG Nexus” or the “Company”) and Securitize, a leading platform for tokenizing real-world assets, announced today that FG Nexus and Securitize have entered into an agreement to implement a program to allow shareholders to elect to nati ...

Dubai, The United Arab Emirates, October 2nd, 2025, FinanceWire B2BROKER, a global fintech solutions provider for financial institutions, today announced its partnership with Finery Markets, a leading provider of non-custodial ECN and SaaS trading solutions and the first crypto ECN to receive SOC 2 Type 1 & 2 certifications. The collaboration will enhance the institutional crypto OTC offering of B2TRADER, B2BROKER’s multi-asset trading platform, by integrating Finery Markets’ advanced liquidity and infrast ...

Core Insights - The European Central Bank (ECB) has selected Portuguese startup Feedzai to assist in fraud prevention for its upcoming digital euro currency, with a contract valued at up to 237.3 million euros ($278.69 million) [1][3] - The project aims to enhance the euro zone's financial autonomy from the United States, particularly in response to the dominance of Visa and Mastercard and the rise of stablecoins [4] Company Overview - Feedzai specializes in artificial intelligence and processes approximately $8 trillion in payments annually for clients, including Novobanco and Wio Bank [5] - The company recently secured $75 million in funding from various investors, including Lince Capital and Iberis Capital [5] Project Details - The four-year agreement with the ECB includes an option to extend for up to 15 years, with an estimated value of 79.1 million euros and a maximum cap of 237.3 million euros [3] - Feedzai, along with its subcontractor PwC, will develop an AI model to assess the fraud risk of digital euro payments based on customer behavior and transaction history [2] Legislative Context - The ECB is currently awaiting legislative approval for the digital euro, which it anticipates receiving by mid-next year, aiming for a launch in 2029 [4]

Business Strategy - Unprofitable microlending fintech makes a big bet on global expansion [1]

Core Insights - Tenet Fintech Group Inc. reported a revenue of $2.84 million for the year ended December 31, 2024, a significant decrease from $42.08 million in 2023, alongside a net loss of $59.26 million, which included an expected credit loss provision of $32.39 million [1][5] - The company experienced negative cash flow from operations amounting to $6.92 million in 2024, compared to negative $3.91 million in 2023 [1][5] - Tenet is in a transition period that began in 2023, with expectations to demonstrate long-term benefits by the end of 2025 through the commercialization of its first data-derived product and reactivation of platforms in China [2] Financial Performance - Total revenue for 2024 was reported at $2.84 million, a decline from $42.08 million in 2023 [1][5] - The net loss for the year was $59.26 million, with $32.39 million attributed to expected credit loss provisions [1][5] - Cash flow from operations was negative at $6.92 million, worsening from negative $3.91 million in the previous year [1][5] Operational Highlights - The company achieved several operational milestones in Q4 2024, including enhancements to the Cubeler® Business Development Platform and strategic partnerships aimed at improving data acquisition and service offerings [6] - Tenet launched its Cubeler® Business Development Platform in the U.S. and initiated the commercialization of its first data-derived products in North America [6] - The company aims to return to an annual revenue run-rate of over $100 million by reactivating platforms in China and leveraging contributions from North American data-derived products [6] Future Outlook - Tenet's operational objectives for 2025 include further development of its platforms and products, with a focus on cross-border communications and business opportunities [3][6] - The CEO will address shareholder questions regarding the 2024 financial results and the business plan for the remainder of 2025 in an upcoming Q&A session [4]