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Birmingham Startup Alloy Labs Fuels $1 Billion Fintech Deal

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  //business-finance.news-articles.net/content/202 .. tup-alloy-labs-fuels-1-billion-fintech-deal.html
  Published in Business and Finance on Sunday, December 28th 2025 at 10:57 GMT by al.com

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From Birmingham Startup to Billion-Dollar Fintech: How Harrison Jones Became a Key Player

Birmingham, Alabama might not be the first place that springs to mind when thinking of global financial technology (fintech) powerhouses, but thanks to the recent $1 billion deal involving Alloy Labs and its parent company, Finicity, the city is firmly on the map. At the heart of this burgeoning fintech scene sits Harrison Jones, a Birmingham native and founder who has quietly become a pivotal figure in a transaction that’s attracting national attention and highlighting Alabama's growing tech potential.

The story revolves around Alloy Labs, a software development firm founded by Jones in 2014. Alloy Labs isn't a direct fintech itself; rather, it’s a “studio” – a company that builds and launches new technology businesses. This is crucial to understanding Jones' role. He identified a gap in the market: many financial institutions struggle with outdated legacy systems and need help creating innovative digital experiences for their customers. Alloy Labs fills this void by providing custom software development, design, and product strategy services specifically tailored for the financial sector.

The $1 billion deal itself involves Finicity, a Salt Lake City-based company specializing in data aggregation and analytics for lenders. Finicity was acquired by Mastercard, a move that significantly elevates Alloy Labs' position within the broader fintech ecosystem. Alloy Labs is deeply intertwined with Finicity’s success because it built several of Finicity's core products – most notably, their white-labeled digital lending platform called “Lendly.”

Here's where Jones' influence becomes clear. Lendly, initially conceived and developed by Alloy Labs, has become a significant revenue driver for Finicity. It allows banks and credit unions to offer branded online loan applications and management tools to their customers, effectively modernizing the often-cumbersome lending process. Mastercard recognized the value of this platform – and the expertise behind it – which is why Alloy Labs' continued involvement was a key condition of the acquisition.

According to AL.com, Jones will remain involved in Finicity’s operations as an advisor and continue leading Alloy Labs, which will operate as a separate entity under Mastercard’s umbrella. This arrangement allows Alloy Labs to maintain its agility and focus on building new fintech solutions while benefiting from Mastercard's resources and global reach. Jones’ commitment signals confidence in the future of both Finicity and Alloy Labs.

The rise of Harrison Jones is a testament to the power of identifying niche opportunities and executing with precision. After graduating from Auburn University, he initially worked at a consulting firm but felt drawn to entrepreneurship. His vision for Alloy Labs wasn't about building one monolithic product; it was about creating a platform that could spawn multiple successful fintech ventures. This "studio" model has proven remarkably effective, allowing Alloy Labs to diversify its portfolio and mitigate risk.

The success of Lendly is particularly noteworthy. Finicity initially struggled to gain traction in the market. However, with Lendly’s launch – largely thanks to Alloy Lab's development efforts – Finicity experienced a dramatic turnaround. The platform quickly gained popularity among financial institutions seeking to modernize their lending operations, contributing significantly to Finicity's overall growth and ultimately making it an attractive acquisition target for Mastercard.

The impact of this deal extends beyond the immediate financial gains for Jones and Alloy Labs. It serves as a powerful validation of Birmingham’s growing tech ecosystem. For years, Alabama has been working to diversify its economy beyond traditional industries like manufacturing and agriculture. The emergence of a thriving fintech sector, anchored by companies like Alloy Labs and Finicity (now part of Mastercard), demonstrates the state's potential to attract talent and investment in high-growth technology fields.

The AL.com article also highlights the broader trend of "embedded finance," where financial services are integrated directly into non-financial platforms and applications. Lendly exemplifies this trend, seamlessly integrating lending functionality within banks’ existing digital channels. This is a key driver of innovation in the fintech space, and Alloy Labs is positioned to capitalize on this growing demand.

Looking ahead, Jones envisions Alloy Labs continuing to build innovative fintech solutions, potentially expanding into new areas like payments and wealth management. His continued involvement with Finicity will likely foster further collaboration between the two companies, leading to even more advanced financial technologies. The $1 billion deal isn't just a milestone for Harrison Jones; it’s a significant moment for Birmingham and a signal that Alabama is becoming a serious contender in the global fintech landscape. It also demonstrates the value of building enablers – companies that empower others to innovate, rather than solely focusing on direct consumer-facing products.

I hope this article provides a comprehensive summary of the information presented in the original AL.com piece and offers valuable context about Harrison Jones' journey and Alloy Labs’ impact.