Uncle Sean's Update - 2/6/26

Happy Friday!!!
 
Holy smokes it’s a BEAUTIFUL day here in East Texas with temps set to hit 79 degrees.  Let’s run through this quickly so I can go outside and play (don’t tell my boss 😁)!!!  Here is the Uncle Sean Update for 2/6/26 (subscribe here for free):

• 👀 ICYMI…  Unfortunately, we had our first bank failure of 2026 late last Friday as the Illinois Department of Financial and Professional Regulation closed Metropolitan Capital Bank & Trust in Chicago, IL (FDIC 57488; total assets $261.1M; total deposits of $212.1M).  The bank had a FedFis Rating© of 4.76 placing them in the lowest percentile of all banks.  You can read more about this in our FedFis Bank Failure Alert notice on LinkedIn.

• Looking back to last year we talked about Starling Bank opening a US subsidiary called Engine by Starling Services US and building a team and scouting for a regional headquarters on the US East Coast; with the purpose of bringing a new core solution to the US targeting  mid-tier banks, community banks and credit unions… 
  • 👉 Well, looks like they are well on their way as this report “Starling sets sights on US expansion via in-house tech sale” references comments by Engine CEO, Sam Everington:
    • “The big focus this year is North America, focused on the US. The banks haven’t had the same pressure to transform their systems [which] are very static. But that is changing.”  He added: “There’s a lot of consolidation going on in the small end of the regional banking markets. So we think the time is right.”
    • Everington indicated that Starling is aiming to secure a deal with an American institution within the “$5bn-50bn asset range” by early next year, following discussions with several prospective clients.

• 🤔 Keep an eye on your Ag Bank and commercial farming friends as the Agriculture Department is forecasting that U.S. net farm income would fall 0.7% this ​year (which is 2.6% when adjusted for inflation), despite near-record government payments that are expected to account for nearly 29% of producers’ bottom ‌line citing low crop prices, a global grain glut, ‍rising operational costs and lost export sales.

• 💪 Shout-out to Flagstar Bank, N.A. (NYSE: FLG; FDIC 32541; total assets $87.5B) as they announced returned to profitability during the fourth quarter 2025 and successfully executing on their turnaround plan for two years (as they said they would).  Keep up the great work!!!! 🤙

• Narmi announced they have joined the Fiserv AppMarket as a pre-integrated solution enabling those FI’s operating on Fiserv core platforms to gain direct access to Narmi’s API-first account opening, identity verification, and onboarding solutions.

 
Helping families and our young people with financial literacy – Uncle Sean love’s this!!! 🫶 Check out these powerful announcements: 

• Candescent partners with Greenlight to enable financial institutions on the Candescent platform to offer Greenlight's core tools - including a debit card for kids, goal-based savings, spending controls, and investing features - directly within their digital banking experience.
  • Greenlight partners with more than 187 leading banks, credit unions, and employers to bring its family finance solution to more families through the Greenlight for Banks, Greenlight for Credit Unions, and Greenlight for Work programs.

• United Financial Credit Union (Charter 61657; total assets $343M) partners with Nuuvia to launch SmartStart the credit union’s new youth banking program designed to help kids and teens learn how to manage money in a safe, fun, and parent-supported way.
  • Check out Nuuvia™ | Youth Banking. Lifelong Loyalty for their co-branded or white-labeled, youth-centric digital banking experience.

• Collegiate (one of Michigan State University Federal Credit Union’s direct digital banks) has been named the Exclusive Financial Literacy Partner of Opendorse to give student-athletes nationwide access to financial education courses designed for their busy schedules, available to be completed anytime, anywhere.
  • Wow – talk about a much-needed solution (impact of NIL on personal finances, taxes, and long-term financial health)!!!  Check out Collegiate | Finance made for YOUR future and see what they are building!!!  🚀

• equipifi cranks up the hits with a pair of announcements this week (these folks are on fire 🔥):
  • Honor Credit Union (Charter 63004; total assets $1.8B) launched BNPL via equipifi solution embedded directly into Honor’s mobile and online banking platforms enabling its 110,000+ members to pay for purchases over time using their existing credit union debit cards and checking accounts.
  • Avadian Credit Union (Charter 68583; total assets $1.4B) launched in-house BNPL products powered by equipifi and fully embedded within its digital banking environment allowing its members to view personalized offers and accept them within seconds, all without leaving the financial institution’s secure platform.

• Amplify Credit Union (Charter 68681; total assets $1.3B) adopts Alkami's Mantl platform onboarding and account opening processes for both corporate and consumer clients across all banking channels.

• Seven Seventeen Credit Union (aka 7 17; Charter 61077; total assets $2B) selects Velera for debit and credit card processing services and support via a phased rollout spanning Q3 of 2026. 

• Some personnel changes:
  • PayPal (Nasdaq: PYPL) has appointed Enrique Lores as President and CEO, effective March 1, 2026 replacing Alex Chriss.  Enrique Lores will be leaving HP Inc. as President and CEO where he has worked for the last 36 years.
  • Momnt names Tom Anderson as Chief Executive Officer
  • Backbase appoints Jodi Slomp as Chief People Officer.
  • Happy Money promoted John Triggas to Chief Capital Officer and Maria Mosolova to Chief Operating Officer
  • Spire (Pay-by-Bank platform) hires former Fiserv executive Jennifer LaClair as CEO and announced a $10M in Series B capital raise to expand services enabling consumers to make direct payments from their bank accounts to merchants.

• Notable FinTech funding for the week:
  • EnFi (AI-powered lending solution using multi-agent architecture across the entire lending workflow) raised $15M in Series A funding round.
  • Varo Bank (FDIC 59190; total assets $376M) raised $123.9M in Series G funding round.

 
 
Random Uncle Sean stuff:

• 🤠 FOODIE ALERT!!!!  Aunt Patty and I are headed to see some friends for the Super Bowl – here is what I’m cooking up:
  • We call them grilled Hot Chix – basically jalapenos stuffed with cream cheese and chicken wrapped in bacon .  Here’s how to do it:
    • Marinate your chicken in a sealed baggie (I’m using chicken breast tenderloins) in the fridge using a 50/50 mix of pineapple juice and Italian dressing at least overnight (24+ hours is better – I’ve left them marinating for over 36 hours before).
    • Cut your jalapenos in half lengthwise – cut the stem off but leave enough of the “end” intact to make a “boat.”  Scrape out the seeds.
    • Dab in some cream cheese (I find that cream cheese is less likely to ooze out too much while cooking).
    • Cut your marinated chicken to top the cream cheese filled jalapeno boat (you can have some chicken overhang – no one will judge you 😊).
    • Wrap with bacon (I use a toothpick to secure the bacon – just remember to remove it before devouring the Hot Chix).
    • Start cooking on your grill chicken side down flipping occasionally.  Watch closely for flare-ups due to the bacon fat.  The small slices of chicken cook pretty quick, so you are basically watching to see how well done you like your bacon.  Remove and chow down (don’t forget to remove that toothpick before eating) – you’ll love the sweet and tangy flavor of the marinated chicken!!! Nom, nom, nom… 😋🤤
• And here are a few Dad / Bad Jokes to close out the week:
  • Scientists have discovered how trees communicate…  They bark… 🌳😅
  • How many times do you have to click “accept all cookies” before they actually send the cookies (asking for a friend)??? 🤷‍♂️🤣🍪
  • 🤔Is being a horse trainer considered a stable job? 🤠🐴

 
 
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.

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