Uncle Sean's Update - 10/3/25

​Happy Friday!!!
 
There is a lot going on this week, so let’s jump right in!!!  Here is the Uncle Sean Update for 10/3/25 (click here to subscribe):
 

• Kicking off with a HUGE shoutout 🎉 and lots of love 🫶 to my friends at DCI as they renew their sponsorship of Bankers Helping Bankers (BHB)!!!
  • “DCI is woven into the history of community banking innovation,” said Matthew Smith, CEO of Bankers Helping Bankers. “Their renewal with BHB is more than sponsorship—it’s a signal that the champions of community banking are all-in on this movement.”  🚀

 

• On the macroeconomic side…  Well…  The government shutdown is in full effect…  So, no Sept Jobs Report from the BLS…  🙄  However, had there been one – the expectations were +43,000 expected, +22,000 previously (prior to revisions); Unemployment rate 4.3% expected, 4.3% previously.

 

• 🤔 Coming to America (not unexpected, but certainly newsworthy)…  Nubank (NYSE: NU) applies for U.S. National Bank charter with the OCC. 
  • Founded in 2013 and headquartered in São Paulo, Nubank has rapidly grown to become one of the world’s largest digital financial services platforms, serving nearly 123 million customers across Brazil, Mexico and Colombia.

 

• 👀 More big news in embedded finance as Core Processors continue with acquisitions!  Jack Henry (Nasdaq: JKHY) just announced they have acquired Victor (the embedded finance / BaaS subsidiary of MVB Bank focused on direct-to-core embedded payments solutions).
  • “This acquisition advances our technology modernization strategy to help banks and credit unions compete and win through innovative, cloud-native solutions,” says Jack Henry President and CEO Greg Adelson. “Offering a proven, high-volume embedded payments platform that is highly scalable creates diverse revenue streams, enhances our capabilities, and provides more immediate opportunities to deliver emerging services like stablecoin.”
    • The article goes on to state that, “The PaaS market is expected to grow from $19.1 billion in 2025 to $43.9 billion in 2029 at a compound annual growth rate (CAGR) of 23.1%, according to Research and Markets.”

 

• But wait, there’s more 😊...  Next up is Fiserv (NYSE: FI) announcing a definitive agreement to acquire StoneCastle Cash Management (deposit network platform for enhanced deposit insurance for individual, commercial, and government depositors; and a stable funding solution for FI’s).
  • “Acquiring StoneCastle is an important step forward in our strategy to help financial institutions optimize their balance sheets, which will enable them to do more in the communities they serve,” said Andrew Gelb, Head of Financial Solutions at Fiserv.  The PR also states “Fiserv plans to leverage StoneCastle’s platform to help financial institutions retain funds associated with FIUSD stablecoin issuance…”
    • This comes on the heels of these additional Fiserv acquisition announcements:
      • 9/25 - Fiserv Expands Advisory Services for Financial Institutions with Acquisition of Smith Consulting Group.
      • 9/4 - Fiserv Expands Clover Offerings for Hospitality with CardFree Acquisition.

 

• Circling back to MVB…  MVB Bank (FDIC 34603; total assets $3.2B) partnered with Aeropay (pay-by-bank provider) to enhance Aeropay’s payment infrastructure by integrating MVB Bank's expertise in managing complex ACH and Real-Time Payments (RTP).

 

• 👉 Worldpay leans into BaaS infrastructure and announced the launch of their Embedded Finance Engine to help software companies deliver seamless business banking products to their users.  The new platform includes embedded lending, banking, and commercial card issuing with plans to expand capabilities over the coming months.  Check it out at Embedded finance | Worldpay for Platforms. 💥

 

• Checkout.com becomes the latest to apply for a Merchant Acquirer Limited Purpose Bank (MALPB) charter through the State of Georgia Department of Banking and Finance.  The charter would give Checkout.com direct access to US card networks allowing it to act as its own acquirer.
  • If approved, Checkout.com would join the ranks of Fiserv and Stripe with the Georgia limited purpose charter.  This Payments Dive article has a good summary.

 

• Linker Finance announced a strategic partnership with Advanced Fraud Solutions (AFS) to integrate consortium-powered fraud intelligence into Linker Finance’s business banking solution. 👏

 

• Fruitful announced their launch of Money Map, the first automated financial product that transforms personal advice into action with a single click.  Money Map automatically sets up accounts, funds routing rules, and automated transfers across bills, spending, saving, and investing.  Nice!!!

 

• Stripe teams up with Open AI to help launch a new commerce experience called Instant Checkout in ChatGPT.  “Starting today, ChatGPT users in the US can buy goods from US-based Etsy businesses—and, coming soon, over a million Shopify merchants, like Glossier, Vuori, Spanx, and SKIMS—directly in the chat” via the Agentic Commerce Protocol (ACP), a new, merchant-friendly open standard codeveloped by Stripe and OpenAI.

 

• InvestiFi partners with Horizon Utah Federal Credit Union (charter 24746; total assets $180M) to bring InvestiFi’s full suite of digital investing solutions to HCU’s 12,000 members.

 

• Wealthfront makes their S-1 public for their upcoming IPO which the company intends to list on Nasdaq under the ticker “WLTH.”
  • Per the filing, Wealthfront had $88.2B in assets on its platform and served 1.3M customers as of July 31.  Additionally, the company posted a very strong $194.4M in net income on $308.9M in revenue during in fiscal 2025 (which ended on Jan. 31).
  • This CNBC article is a pretty good summary.

 

• Some personnel moves:
  • LawFi named Doug Hathaway as Co-Founder and CTO/CPO.
  • ModernFi reappoints Rodney E. Hood to its Board of Directors following Mr. Hood’s service as Acting Comptroller of the Currency.
  • DailyPay named existing Chairman Nelson Chai as CEO.

 

• Notable FinTech funding for the week:
  • Baselane (banking and financial platform for RE investors) raised $20M in Series B following their previously unannounced $14.4M series A.
  • Notable (pay-at-close financing for home sale prep) raised $6M in Series A funding round.

 
 
Random Uncle Sean stuff:

• So here’s some cool news.  I am heading down to the greater Austin area to hang out with my brother Davey and his family this weekend!!!  On the agenda is college football, campfires, food (maybe even some adult beverages), and plenty of stories… 
  • Speaking of stories…  When we were younger (until I was about 5 or so), Dave and I shared a bedroom while our older brother had his own room.  Well, we got some bunk beds and (even though Dave was older) I absolutely HAD to have the top bunk – because of course at 5 years old it was absolutely imperative that I establish my dominance as a man (LOL) to my brother who was 9 years older than me. 😅  Dave eventually conceded and let me have the top bunk…  And naturally I was too much of a man at the ripe age of 5 to keep that sissy protection railing on there….  Yep, you guessed it…  I fell out of that top bunk.  Not just once, but on a nightly basis for a long, long time due to an already abundance of stubbornness and hard-headedness (it’s a family tradition – and the hard-headed part may be the only thing that kept me alive 🤣).  In case you are wondering, YES, that is a terrifying way to wake up as you feel yourself going over the side (dreams of falling are nothing compared to the reality of waking up while falling – I am literally crying laughing as I am writing this 😂🤣)!!!  After the first handful of times, this became such a nightly occurrence that the shock and trauma eventually wore off; and literally became a nightly ritual.  I think I remember that we ended up putting some pillows on the floor to soften the blow.  I begged him not to tell Mom because I knew she would freak out and not let me sleep on the top bunk anymore LMAO!!!  Of course Dave confided in keeping my secret safe (gee – thanks??? HAHAHA!).  And he would simply give me a blanket (while I was lying on the floor) and I would go back to sleep.  Ahhh, boys will be boys and brothers will always be brothers. 😊✌️
• Thought I would mix it up a bit this week and focus on the perks, drawback, and not-so-subtle signs of aging…  So, here are the “aging” themed Dad / Bad jokes:
  • In a hostage situation, you are likely to be released first… 👍
  • People no longer view you as a hypochondriac… 😅
  • Kidnappers are not very interested in you… 😊
  • There is nothing left to learn the hard way… (I feel targeted by this one) 🤠
  • Carpe diem = Seize the day…  Imodium = Don’t sneeze today!!! 😬😲😆
  • And last but not least…  One of the best signs of aging is if you have ever had to ask yourself, “why am I the only naked person at this gender reveal party???” 🤷‍♂️🤣

 
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC – we all know he’s a little bit different; but that’s why we love him.