Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Seven Banking and Fintech Trends Shaping 2026

October 31, 2025

C.H. Robinson’s AI Approach Enhances Financial Planning for 2026

October 31, 2025

Propel Launches $10 Million Fund to Support Food Stamp Recipients Affected by Government Shutdown

October 30, 2025

Fintech Startup Jupiter Secures $15M Funding at a Steady $600M Valuation, According to Reports

October 30, 2025
Facebook X (Twitter) Instagram
Trending
  • Seven Banking and Fintech Trends Shaping 2026
  • C.H. Robinson’s AI Approach Enhances Financial Planning for 2026
  • Propel Launches $10 Million Fund to Support Food Stamp Recipients Affected by Government Shutdown
  • Fintech Startup Jupiter Secures $15M Funding at a Steady $600M Valuation, According to Reports
  • Vijya Fintech secures Rs 12 crore in seed funding round from MIDASX parent company
  • Evaluating the Trustworthiness of ChatGPT’s Investment Recommendations in Personal Finance
  • Competitive Advantage of Small Fintech Startups in Asia within the Crypto Sector
  • Snowflake Introduces Cortex AI for Financial Services: Scalable Business-Oriented AI Solutions
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    The Fintechs Dominating LinkedIn’s Top Startups 2025 List in London

    October 29, 2025

    OpenAI Hires 100 Former Investment Bankers to Train AI in Financial Modeling

    October 21, 2025

    B2B fintech Yaspa leverages its new regional brand to enter the U.S. market.

    October 16, 2025

    Fintech Employment Boom Stimulates Financial Job Market in London

    October 15, 2025

    European small and medium-sized enterprises face risks while developing AI strategies on unstable digital groundwork, reveals recent Qonto survey.

    October 10, 2025
  • AI

    C.H. Robinson’s AI Approach Enhances Financial Planning for 2026

    October 31, 2025

    Evaluating the Trustworthiness of ChatGPT’s Investment Recommendations in Personal Finance

    October 30, 2025

    Snowflake Introduces Cortex AI for Financial Services: Scalable Business-Oriented AI Solutions

    October 30, 2025

    Meta experiences varied financial outcomes during a surge in AI hiring and expenditures.

    October 30, 2025

    Uptiq.ai secures $12 million to enhance AI technology in the financial services sector.

    October 30, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Seven Banking and Fintech Trends Shaping 2026

    October 31, 2025

    Overview of the Singapore Fintech Market Size by 2025: Shares, Trends, and Growth Prospects

    October 22, 2025

    Vietnam Fintech Market Overview: Trends, Growth Potential, and Future Directions

    October 8, 2025

    Industry size projected to reach 550.9 billion USD

    October 3, 2025

    Germany’s Fintech Market Expected to Reach 29.25 Billion USD by 2030

    October 3, 2025
  • Insights

    Propel Launches $10 Million Fund to Support Food Stamp Recipients Affected by Government Shutdown

    October 30, 2025

    The Fintechs Dominating LinkedIn’s Top Startups 2025 List in London

    October 29, 2025

    Bizcap purchases a financial technology firm based in the U.S.

    October 24, 2025

    Issues Facing PB Fintech: A Look at Stock Market Predictions

    October 22, 2025

    The upcoming frontier in managing personal wealth

    October 17, 2025
  • Rumors

    Forge Global has begun talks regarding a possible sale.

    October 28, 2025

    Is Coinbase exploring a BVNK acquisition to enhance its stablecoin growth?

    October 14, 2025

    Japanese Digital Finance Firm Experiences Rapid Expansion

    October 11, 2025

    American regulators dismiss rumors of a dry CFTC merger, aiming to eliminate fear, uncertainty, and doubt in the cryptocurrency space.

    October 5, 2025

    Insights on OKX Communication Strategies for the Future of BTC Futures

    October 3, 2025
  • Startups

    Fintech Startup Jupiter Secures $15M Funding at a Steady $600M Valuation, According to Reports

    October 30, 2025

    Vijya Fintech secures Rs 12 crore in seed funding round from MIDASX parent company

    October 30, 2025

    Competitive Advantage of Small Fintech Startups in Asia within the Crypto Sector

    October 30, 2025

    ZAR secures $12.9 million to introduce stablecoins for Pakistan’s unbanked population.

    October 30, 2025

    The Fintechs Dominating LinkedIn’s Top Startups 2025 List in London

    October 29, 2025
  • finjobsly
fintechbits
Home » Fintech Mercury, whose B2B activities are subject to regulatory control, is expanding into personal banking services
Regulatory Updates

Fintech Mercury, whose B2B activities are subject to regulatory control, is expanding into personal banking services

5 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Mercury Product.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Starting a merchant bank Mercuryfounded in 2017, is now launching a consumer banking product. Mercury today serves more than 100,000 businesses, many of which are startups, through its B2B practice.

The expansion is a natural move for the company and has been in the works for a few years, according to Immad Akhund, co-founder and CEO of Mercury.

“We already have a few hundred thousand users of our business banking product, and a lot of people have expressed a desire for a personal banking product,” he told TechCrunch in an interview.

Although there are many neobanks, many of them “focus on the underbanked.” It’s not a big market for power users” who need features like wire transfers or support for multiple users, features offered by the Mercury service, according to Akhund. Other features are the type expected by banking industry power users: multiple debit cards with personalized spending limits, access to up to $5 million in FDIC insurance through its partner banks and their swipe networks , and interest-bearing savings accounts.

Essentially, Mercury hopes to convert many of its corporate clients into customers. He doesn’t go after the masses like, say, Chime or Dave.

The expansion of personal banking comes at an interesting time for Mercury, which recently made headlines for being the target of federal scrutiny over its practice of allowing foreign companies to open accounts through through one of its partners, Choice Bank.

According to a report from The informationthe FDIC was “concerned” that Choice “opened Mercury accounts in legally risky countries.” Officials also reportedly chastised Choice for letting overseas Mercury customers “open thousands of accounts using questionable methods to prove they had a presence in the United States.”

And that’s not all. The FDIC was also not happy that Choice had not “audited a compliance system used by Mercury, which the agency said reported a curiously low number of suspicious transactions.”

Adding fuel to the fire, Mercury also reportedly told its users earlier this year Debit cards issued by Evolve Bank & Trust that these cards no longer works where the merchant has a legal address in 41 countries, including Turkey, Ukraine, Cuba and Iran. (Evolve also partners with Mercury.) When TechCrunch asked about these allegations, the company declined to comment.

Asked about The Information’s report, a Mercury spokesperson stressed that the the company invests in its risk management and compliance teams. The person also said the fintech partner bank market as a whole has been the target of increased regulatory scrutiny.

Alexey Likuev, who led the creation of the consumer offering for Mercury, acknowledges that there are “significantly more rigorous consumer protection regulations” and said the company took those regulations into account when developing its consumer product.

To cross

But success in B2B banking doesn’t automatically require Mercury to handle consumer banking. Each has different regulations and compliance issues, noted Agustin Rubini, an analyst at Gartner. Risk management for personal banking, for example, involves assessing the individual’s financial stability, “which may be less predictable than that of businesses,” he said.

Additionally, adhering to strict regulatory requirements can be “a challenge” for startups, he warns. “Complexity increases when partnering with a bank due to the additional layers of regulation that apply to banking services,” he said. “This includes everything from anti-money laundering (AML) protocols to meeting capital requirements.”

Rubini added that partnering with a bank can help the startup by providing an initial platform and compliance framework, but expanding operations to a wider customer base can then open a different Pandora’s box. Startups need “substantial capital and strategic planning” to achieve this while remaining competitive and without running afoul of regulators.

Cesare Fracassi, associate professor of finance at the University of Texas at Austin, also told TechCrunch that business and personal banking are “two different beasts, two different types of services.” But he’s a little more optimistic about fintechs trying both because he sees “obvious synergies involved in owning both the business and the person” in the banking space.

This is one of the main reasons why Mercury is developing in this direction. It could leverage much of the software that powers its B2B product for its consumer offering, Akhund said.

It’s not the only fintech to think this way, either. Onyx Private, with a similar offer, recently backtracked, move from B2C to B2B.

In addition to generating revenue through interchange fees and interest rate spreads, Mercury will make money by charging users an annual subscription fee of $240 upon first deposit and annually thereafter. the sequel. Last year he praised Strong growth in activity following the SVB crisis, and a recent report from Kruze Consulting showed that 40% of startups created after the SVB crisis have an account with Mercury.

The company said it had seven consecutive quarters of cash flow and EBITDA profitability from March 2024. While it doesn’t reveal concrete revenue figures, it also claims its new revenues grew 180% last year while its customer base soared by 60% and trading volume by 90% to reach $95 billion in January 2024.

With this growth, the startup has hired. Currently, Mercury has 620 employees, up from 440 at the start of 2023.

Want more fintech news in your inbox? Sign up for TechCrunch Fintech here.

Would you like to give us some advice? Email me at maryann@techcrunch.com or message me on Signal at 408.204.3036. You can also send a note to the entire TechCrunch team at tips@techcrunch.com. For more secure communications, click here to contact uswhich includes SecureDrop (instructions here) and links to encrypted messaging apps.

Amid Breakup, Synapse and Evolve Respond to Claims Their Relationship Ended

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump 2.0 may create a more conducive atmosphere for banks and fintech companies.

October 28, 2025

Niti Aayog CEO emphasizes the importance of regulation in fostering fintech innovation.

October 25, 2025

MobileMoney Ltd Fintech Stakeholder Forum outlines future directions for regulating digital credit and assets

October 22, 2025
Leave A Reply Cancel Reply

Latest news

Seven Banking and Fintech Trends Shaping 2026

October 31, 2025

C.H. Robinson’s AI Approach Enhances Financial Planning for 2026

October 31, 2025

Propel Launches $10 Million Fund to Support Food Stamp Recipients Affected by Government Shutdown

October 30, 2025
News
  • AI in Finance (1,781)
  • Breaking News (177)
  • Corporate Acquisitions (71)
  • Industry Trends (209)
  • Jobs Market News (313)
  • Market Insights (222)
  • Market Rumors (282)
  • Regulatory Updates (177)
  • Startup News (1,157)
  • Technology Innovations (182)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,781)
  • Breaking News (177)
  • Corporate Acquisitions (71)
  • Industry Trends (209)
  • Jobs Market News (313)
  • Market Insights (222)
  • Market Rumors (282)
  • Regulatory Updates (177)
  • Startup News (1,157)
  • Technology Innovations (182)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.