Uncle Sean's Update - 6/26/26

Happy Friday!!!
 
We will be pausing the Uncle Sean Update next week in celebration of Independence Day 🎆🧨.  But first, here is the Uncle Sean Update for 6/26/26 (subscribe here for free):
 

• 👉 Primax gets in on the 2fer action this week:
  • First up is a huge salute 🫡 as Primax joins Bankers Helping Bankers (BHB) as a Premier Sponsor!!!
    • “We believe in the community banking model and the vital role these institutions play in the lives of everyday Americans. Supporting BHB is our way of putting that belief into action and making sure the resources, connections and insights that community banks need are always within reach,” said Bill Hampton, President, Primax. 🎉
  • And check out Bankers’ Bank of Kansas (FDIC 27351; total assets $212M) selects Primax as its credit card processing partner for its agent credit card program. 👏  BBOK has grown into one of the nation’s leading bankers’ banks providing correspondent services to banks across multiple states and serving more than 90% of banks across Kansas.  Primax will begin providing credit processing support to BBOK by early 2027.

 

• On the macroeconomic front… 
  • The BEA released the May PCE Report and inflation came in hot as expected at 4.1% with core PCE at 3.4%.  The good news is that there were no real surprises.
  • The BEA also updated the 1Q2026 GDP (third and final estimate) and was revised up 0.5% to 2.1% largely due to a downward revision to imports (which is positive to GDP).
  • The next FOMC meeting is scheduled for July 28 – 29; it will be interesting to see if the Iran ceasefire holds and energy costs remain in check.

 

• 👉 I admit it… I am biased as I love both of these firms (their principals and employees are awesome) and what they are doing to help community banks and credit unions.
  • Happy to share that FIntegrate Technology and OMNICOMMANDER have announced a new partnership to help FI’s grow, compete, and operate more efficiently.
    • “Through the strategic partnership, clients of both companies gain expanded access to capabilities that address the full arc of financial institution performance. OMNICOMMANDER helps banks and credit unions take control of their digital presence with customized digital solutions designed to strengthen engagement, improve visibility, and support sustainable growth. FIntegrate Technology provides the operational technology institutions need to streamline collections and recovery, improve dispute management, and securely convert legacy data.”

 

• And a shoutout 🎉 to my friends at CSI as they continue to lean into modernization for community banks by announcing the launch of Open Integration Hub, giving community banks transparency and control over fintech integrations – NICE!!! 👏
  • Here is the actual link to the Open Integration Hub | CSI.

 

• Finosec flex 💪 (okay – that just sounds cool) this week by announcing they have surpassed 200 FI's on its cybersecurity governance platform while also sporting a 99% client retention rate! 🚀
  • Check out their platform at Finosec | Automated Governance for Financial Institutions.

 

• 👀 Stablecore, in partnership with Circuit and Curql, launched an early-access stablecoin and digital asset program for Credit Unions.
  • Participants of the initial launch include RBFCU (charter 8111; total assets $19.2B), Stanford FCU (charter 13392; total assets $4.8B), and La Capitol FCU (charter 14568; total assets $800M) representing some heavy hitters in the CU space.🤙

 

• Parafin announced the launch of the Parafin Spend Card – a business credit card program that allows platforms/brands to deploy a small-business credit product in weeks without becoming a bank.  Parafin’s embedded business credit card solution is issued by Column N.A. and powered by Marqeta.

 

• 👀 X Money goes live as user sends $25 directly to Elon Musk via real-time P2P transaction.

 

• Mercantile announced a new partnership with the American Bar Association (ABA) to launch the new ABA American Express Business Card (issued by Celtic Bank) to support solo practitioners and small law firms.

 

• Backbase acquires Kasisto, a pioneer in agentic AI for banking and financial services, adding to Backbase’s AI-native Banking OS.

 

• Lili (online banking platform built for small business owners) has selected Lendio's AI-driven origination platform to embed business lending directly into the Lili platform.

 

• FLEX Payment Solutions adds Pay By Bank solution further expanding on FLEX's payment ecosystem, which includes ACH processing, card processing solutions, text payments, IVR payments, instant funding technologies, and payment gateway integrations.

 

• Some sponsor bank rebranding taking place…
  • It’s official…  LendingClub Bank (Nasdaq: HAPN; FDIC 3255; total assets $11.8B) has rebranded to Happen Bank (www.happen.com).
  • Capital Community Bank (FDIC 33823; total assets $1.5B) is set to rebrand to Quill as of June 30 including a new website (Coming Soon - Quill).

 

• Jordan Credit Union (charter 24698; total assets $421M) selects Mahalo Banking's Thoughtful Banking platform for digital banking in conjunction with Jordan CU’s planned transition to the Corelation Keystone core system.

 

• NCR Atleos (NYSE: NATL) U.S. reseller collaboration with Sesami which Atleos and its channel partners will resell Sesami’s CM-Series Intelligent Teller Cash Recycler (TCR) solutions to banks and credit unions across the United States.

 

• Edward Jones makes a big commitment to trust by offering Careful at no cost to clients nationwide.  Careful is a financial safety platform that helps monitor accounts for warning signs such as suspicious transactions, behavior changes associated with scams, and even mistakes people make themselves – including those that can come with aging. The tool allows clients to choose to send selected alerts or information to trusted loved ones, creating shared awareness without transferring control. 👏

 

• Modern Treasury announced a partnership with Sardine to help businesses detect fraud earlier (via Sardine’s real-time monitoring and risk infrastructure) and reduce risk at scale for businesses moving money across the US and globally.

 

• Cash is still King…
  • Treasury Prime announced the launch of Prime Cash powered by Green Dot’s (NYSE: GDOT; FDIC 22653; total assets $5.9B) embedded finance platform, Arc.  Treasury Prime’s fintech partners can now enable customers to deposit cash to their digital accounts at more than 90,000 retail locations nationwide.
  • Synctera partners with InComm Payments to enable FinTechs and companies offering embedded finance to offer in-store cash deposits to their customers. 

 

• Some personnel moves:
  • Candescent appoints Jason Edelboim as CEO to accelerate the shift from digital to intelligent banking.
  • Performance Trust Capital Partners adds Nathan Stovall as Managing Director, Head of Industry Insights within its Financial Institutions Group.
  • ICBA Payments announced the election of Trent Sorbe to its board of directors.  Trent Sorbe, a payments industry veteran and super nice guy, is currently the EVP and Chief Payments Officer of First International Bank & Trust.

 

• Some FinTech funding announcements:
  • Flagright (AI operating system for financial crime compliance) raised $12.5M in Series A funding round.
  • Airwallex (AI native global financial platform for businesses) raised a massive $320M in Series H round at a valuation of $11B, up from its $8B valuation just a few months ago in Dec 2025.
  • Trovy (HELOC loan and HELOC card platform) raised $15M in Series A round bringing its total capital raised to $25M.
  • Taktile (AI transformation for financial institutions) raise $110M in Series C funding.

 
 
Random Uncle Sean stuff:

• Remembering Alan Greenspan, the legendary Fed Chair that served for nearly two decades and under four presidents, who passed away on Monday at the age of 100.
• Somehow, we (as Texans) lost a giraffe 🦒 🤷‍♂️ in the remote Texas Hill Country west of San Antonio; and in classic Texas humor, she has broken the internet with AI-generated memes (Facebook is a riot – just search Gracie the Giraffe and you can thank me later).  Not to worry though as she has been found today safe and sound after nearly two weeks of being on the run.
• Applebee’s is bringing back the DOLLARITA® for the entire month of July!!! 🎉  Hey – it’s Friday and you can tell where my mind is!!! ☺️
• Yep – here are the Dad / Bad jokes:
  • I have no idea how dishwasher tablets work…  I’ve already taken five of them and I still don’t feel like doing the dishes! 🤷‍♂️🫣
  • Not all math puns are funny…  Just sum… 😉🙃
  • If they don’t want me to drink the whole bottle, they should make it easier to put the cork back in! 😂🍷
  • Quinoa tastes like I’d rather be fat… 🤠
  • And my favorite for the week:
    • It’s not that the man didn’t know how to juggle, he just didn’t have the balls to do it. 🤣

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend, a WONDERFUL upcoming 4th of July 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 and its affiliates – we all know he’s a little bit different; but that’s why we love him.