Engineering Manager

Nubank forms partnership with Lead Bank to accelerate U.S. launch. Partnership allows it to bring forward its operations while awaiting the regulator, and the fintech will debut with a 3.5% annual yield and fee-free transfers to compete in one of the world's most competitive banking markets; Citi estimates a potential of US$10 billion in credit in the country by 2030 By Matheus Piovesana September 10, 2026 | 01:44 PM Bloomberg - Nubank decided to launch its operation in the United States before obtaining final approval for its own license, accelerating the process through a partnership with another bank. Nubank will start operations in the U.S. with products that include a deposit account with a 3.5% annual yield, as well as domestic and international fee-free transfers, and credit cards that also have no fees and offer 1.5% cashback on purchases, the company said at an event held in Miami on Thursday (10). The company is still awaiting final approval for a U.S. banking license application, which is under review by the Office of the Comptroller of the Currency (OCC). The agency granted conditional approval in January, when the fintech said it expected operations to begin in 2027. The decision to bring the launch forward stems from the fact that the approval process tends to be long, even though the regulatory environment has become more friendly to new entrants under the Trump administration, Nubank CEO and founder David Vélez said in an interview. To offer products before license approval, Nubank reached an agreement with Lead Bank, a company that provides services to fintechs that want to offer products in the U.S. "We started working on this project with Lead Bank before we decided to apply for a license," Vélez said.

Startup founder buys Washington bank to extend fintech push. 04 Aug 2026, 09:58 pm Darragh Buckley fully took over Twin City Bank last year, renamed it Increase Bank, and is now using the platform to expand his start-up's work with financial-technology clients. (Aug 4): Darragh Buckley, an early employee at payment-processor Stripe, is taking his financial-product start-up Increase into the banking world. Buckley, who acquired voting shares in Twin City Bank last year, fully took over the lender, renamed it Increase Bank, and is now using the platform to expand his start-up's work with financial-technology clients. His purchase of the lender - sandwiched between Seattle and Portland, Oregon - is vaulting Increase into a competitive space dominated by firms such as Lead Bank and Column that provide fintechs with an often-required banking platform. Buckley plans to keep the bank's physical location in Longview, Washington, as well as its community banking business. Buckley's Increase, which was founded in 2020, initially had success working as the technology layer interfacing between banks and fintechs such as Stripe and Ramp, working on services such as ensuring employees are paid at an exact time. But he was ready to take it a step further with the firm and not have to rely on its own banking partners to handle the regulated portion of the work. "It's time for us to tie those things more tightly together," he said. Buckley has said he's been keenly aware of the challenges that fintechs face when it comes to banking given the complicated setup that's needed to create products. Increase Bank, which counts Jon Jones as its chief executive officer, will provide a more digitally native banking infrastructure for clients. "I built it to be the banking technology that I wanted while building Stripe," Buckley said in an interview. Uploaded by Felyx Teoh

Walmart-Backed fintech OnePay hits 6M monthly users and $50B in annualized payments as it pushes to become a payment super app. - June 3, 2026 Why it matters. The rapid growth positions OnePay as a potential challenger to traditional banks and could accelerate the U.S. super-app trend, expanding Walmart's ecosystem beyond retail. Key takeaways. * - 6M monthly users, $50B payments, both doubled YoY * - Valuation rose to $4B after expanded product suite * - Two-thirds of Walmart sign-ups adopt extra financial services * - Operates via partner banks, no own banking charter * - Targets WeChat-style super-app, first in U.S. market Pulse analysis. OnePay's surge reflects a broader shift toward integrated financial platforms that combine payments, banking, and investment services under a single consumer interface. Backed by Walmart's massive retail footprint and Ribbit Capital, the fintech leverages data and distribution channels that most pure-play startups lack. This advantage has helped it double its user base and payment volume in just twelve months, a feat that underscores the power of retailer-driven fintech ecosystems in a market still dominated by legacy banks and siloed apps. The company's product roadmap now spans a checking account, crypto investing, and a buy-now-pay-later (BNPL) offering, positioning OnePay as a one-stop shop for everyday financial needs. By partnering with Coastal Community Bank and Lead Bank rather than seeking its own charter, OnePay sidesteps regulatory hurdles while still delivering FDIC-insured services. This model mirrors the "partner-bank" approach used by other U.S. fintechs, but OnePay's scale - driven by two-thirds of Walmart-originated users adding additional products - gives it a unique cross-selling engine that could boost revenue per user. If OnePay succeeds in delivering a true super-app experience, it could reshape the competitive landscape for both fintechs and traditional banks. A Walmart-anchored super-app would give the retailer a direct line to consumer financial data, enabling more personalized offers and tighter loyalty loops. Competitors may be forced to accelerate their own ecosystem strategies or seek similar retail partnerships. For investors, OnePay's $4 billion valuation signals confidence that a retailer-backed fintech can challenge the status quo and potentially unlock new growth avenues in the U.S. payments market. Paul Drecksler Walmart-backed fintech OnePay has reached 6 million monthly active users and $50B in annualized payments, both double their figures from a year ago, according to people familiar with the company's results. The app, which lets users load debit and credit cards and earn redeemable points, recently nabbed a $4B valuation and also offers a checking account, a crypto investing platform, and a buy now, pay later service. Backed by Walmart and Ribbit Capital's Micky Malka, OnePay leans on the retailer's data and distribution, with two-thirds of users who sign up via Walmart adding at least one more financial product. The company, with roughly 600 employees and led by ex-Goldman Sachs executive Omer Ismail, is pursuing a WeChat-style "super app" model, though no U.S. fintech has pulled that off. OnePay isn't seeking a bank charter for now, working with partners Coastal Community Bank and Lead Bank.