The Week in Digital Wealth (12/11/23)

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The industry continued to evolve, with innovative products as jingle bells continued to ring, elevating the holiday mood.

Bloomberg and two other partners announced discontinuance plans for its consolidated tape solution.

IEX revealed an extra integration of its predictive model.

Sending money across messaging apps is now possible with Coinbase, and IBM has a solution for cold storage.

Public now has fractionalized options for fixed-income products.

Plus, a new report identified hidden bill costs for American households (read on to find out).

Freddie Mac unveiled a new addition for condominiums (just in time for Christmas, right?).

It’s your week in digital wealth!


WealthTech, RegTech, Regulatory, and Treasury

Bloomberg/MarketAxess/Tradeweb

Following their 2022 tripartite decision to explore a consolidated tape for fixed-income instruments within the UK and EU regions, Bloomberg, MarketAxess, and Tradeweb indicated a pullback.

The three parties cited situational issues as the reason for the decision.

In related news, Bloomberg also broadened its sustainable finance offerings with new indices.

Investors Exchange (IEX)

IEX, the boutique exchange, revealed that the latest version of its predictive model (“The Signal”) has integrations with displayed trading.

In April, the exchange introduced the product for its P-Peg, C-Peg, and D-Peg non-displayed order types.

Brown Brothers Harriman & Co. (BBH)

BBH, the investment titan, unveiled the launch of a new data handling front-end solution (“InfuseDX™”).

InfuseDX™ enables improved efficiency and transparency per operation and is available via the BBH Infuse® client portal.

Moodys Corporation

Moodys Corporation, the financial giant, launched an AI-driven analytics solution (Research Assistant).

The product provides comprehensive risk analysis across several niches and is available as an extension to CreditView, its prime rating solution.

Crypto, Blockchain, and Digital Assets

International Business Machines Corporation (IBM)

IBM, the software behemoth, introduced its cold storage solution for institutional clients (Hyper Protect Offline Signing Orchestrato).

The offline-signing process occurs via the user interface.

Coinbase

Coinbase, the cryptocurrency exchange, revealed payment integrations with popular messaging platforms.

Anyone can transfer funds via several apps, including WhatsApp, Apple iMessage, and Telegram.

A Coinbase wallet app is the only requirement.

Bitcoin Depot

Bitcoin Depot, the American-Canadian crypto network, announced the Georgia expansion of its fiat-to-crypto onramp solution.

BDCheckout is available in 325 locations across the state. The solution is available via a partnership with InComm Payments, a leading payments network with over 90,000 locations.

BDCheckout launched in 2022.

FinTech, Personal Finance, and Apps

Public

Public, the retail investing ecosystem introduced fixed-income solutions for its users.

Retail investors now have fractional access to corporate and Treasury bonds. Consequently, its six-month Treasury bill is the most popular asset in 2023 by assets under management (AUM).

Alcove Labs, Inc./Shopify

Carbon credits management received a plus-one with a Shopify integration with Alcove, a carbon credit management platform.

The integration empowers project developers with all sorts of features for carbon credits, including management, sales, forecasting, and process automation.

RedNevada AI

Recruitment processes now have an automated option with the launch of an AI solution (“RAI”) by RedNevada AI, a leading FinTech in the industry.

The web-based product is an assistant for recruiters and comes with several features, including CV assessments, interview question generation and answer analysis, SEO ad creation, and data storage.

Doxo

According to a recent report from Doxo, the bill-focused FinTech hidden extra costs per bill payments are a problem.

According to the report, hidden costs comprised $945 in credit, $75 in overdrafts, $67 in identity fraud, and $181 in late fees.

Banking, Payments, and Infrastructure

Qontic Bank/Alkami Technology, Inc.

Qontic, the premier digital bank, revealed its complete integration with Alkami, the boutique banking software ecosystem.

The cooperation comes with enhanced capabilities, including account-opening features and data analytics.

CyberCatch

Cyber risk mitigation for non-bank financial institutions is now easier with the launch of a Software-as-a-Service (SaaS) solution by CyberCatch, a boutique Canadian-based cybersecurity firm.

The solution improves cyber risk scenarios with automated components, including policy templates, a compliance engine, and an advisor.

Effectiv/Treasury Prime

A top banking solutions company, Treasury Prime, announced its cooperation with risk management FinTech, Effectiv.

The collaboration enables real-time risk monitoring for financial institutions and mitigates fraud via automation.

REtech, InsurtTech and Investing

Janover

Janover, an automated RETech firm, revealed the launch of its AI chatbot for commercial lenders.

The solution functions as a Software-as-a-Service (SaaS) that fully integrates with lending platforms, providing onboarding, prequalification, and more.

ORO Impact/HOTB Software Solutions, LLC

As part of efforts to make homeownership easier, social impact-focused ORO Impact unveiled a payment assistance (DPA) solution.

The platform directly integrates with employers who can grant loans to employees. Also, the integrations are flexible.

HOTB Software Solutions, LLC. is the technical partner and has distributed $8 billion in Treasury assistance payments.

Federal Home Loan Mortgage Corporation (Freddie Mac)

Freddie Mac announced improvements to its Condo Project Advisor® solution.

The “Project Certified” status for Project Assessment Requests (PAR) defines requirements for Condo financing.

Project underwriting has minimal requirements.

Units can also submit PAR requests for projects without Project Certified status.