The Week in Digital Wealth (5/20/24)


The industry continued its cross-partnerships with end users as the focus. This time, though, the AI conversation continued, with vertical integrations occurring everywhere.

Headlines to take note of:

  •  BNY Mellon merged several trading activities into one department;
  • Nasdaq continued its AI integrations;
  • CME wants to trade spot Bitcoin;
  • Visa showed everyone what the future of payments will look like;
  • Sensors in insurance are now a thing (who knew, right?);

Of course, it’s your week in digital wealth!

WealthTech, RegTech, Regulatory, and Treasury

BNY Mellon 

Banking behemoth BNY Mellon announced that it would reorganize its sales and trading departments into one (Global Markets Trading). BNY Mellon GMT provides execution offerings across four sectors: Capital Markets, Equities, Foreign Exchange, and Fixed Income. 


Premier exchange Nasdaq introduced an AI-powered tool within its market surveillance framework. The GenAI-powered solution improves the market manipulation investigative processes by minimizing timelines via automation.

Additionally, proof-of-concept tests show that the feature sped up investigation timelines by 33%. 

Wolters Kluwer

Netherlands-based Wolters Kluwer, introduced a Regulatory Violations Intelligence Index to improve executives’ compliance decision-making. The solution combines penalties and punitive measures meted out by American authorities between 2018 and 2023. 


US-based wealthTech FutureMoney introduced its tax-advantaged micro-investing for parents who want to keep something aside for their kids over the long haul.  

The Junior Roth IRA account deploys 529 plans that parents can change to a Roth IRA account after fifteen years, enabling tax-free contributions of up to $35,000 before their children reach eighteen. 

Crypto, Blockchain, and Digital Assets

Bank for International Settlements (BIS)

The BIS revealed the next phase of Project Agorá, its tokenization experiment. In a May 14 announcement on its website, the BIS called for private-sector participation from leading financial institutions, including banks, deposit institutions, infrastructure firms, and other critical players.

Applications for the next phase close on May 31.

CME Group

According to a May 16 Financial Times report, CME Group unveiled plans to launch spot Bitcoin trading on its platform. The futures giant already offers Bitcoin Futures and (reportedly) intends to operate trading activities for its new product in its Swiss-based EBS currency trading ecosystem. 


Crypto custody firm Bakkt announced the launch of BakktX, an ECN for institutions. On May 15, after announcing Q1 2024 results, Bakkt CEO Andy Main revealed that the crypto markets focused on retail usage, hence the need for the new product. 

FinTech, Personal Finance, and Apps


Advisor-focused Envestnet unveiled its partnership with CRM behemoth Salesforce to improve financial planning experiences. The collaboration integrates the Envestnet MoneyGuide solution with Salesforce’s Financial Services Cloud (FSC).

Additionally, the deployment is cross-platform and eliminates data gaps between CRM ecosystems and financial planning platforms. 


At its yearly Payments Forum in San Francisco, California, payments giant Visa unveiled next-generation solutions. They include single credential access, unified tap-to-pay solutions, a secure passkey service, pay-by-bank options, and more. 

In related news, account-to-account solutions provider Dwolla partnered with Visa to improve account verification services via the card giant’s open banking platform. 


Professional service firms got a plus with a partnership between QuickFee, the go-to automation provider for the sector, and Knuula, an engagement solutions ecosystem. The partnership integrates the entire financing and billing ecosystem, from engagement to proposals, invoices, and reminders. 

Additionally, endpoints have online integrations, providing clients with easy bill payment options. 

Banking, Payments, and Infrastructure

Temenos/Commerce Bank/FedNow

Global banking solutions provider Temenos introduced dual ethical AI solutions as part of ongoing platform integrations. Temenos Explainable AI provides insights and analysis, while its GenAI solution organizes and delivers them. 

Similarly, the firm launched Temenos Positions, a product that streamlines operations for complex banking operations.

Also, Kansas City, Missouri-based Commerce Bank selected the Temenos Payments Hub to enable FedNow payments. 


San Jose, California-based Avidbank revealed its deployment of Corserv’s account issuing platform to extend its card services. The integration will enable commercial, municipal, and non-profit customers to have several card products, including virtual cards. 

Customers can also access analysis and insights, including expenses and other transactions. 

Cache Valley Bank/Finastra 

Cache Valley Bank, a community bank based in Utah and Southern Idaho, unveiled the extension of its integrations with the Finastra software ecosystem. The moves involve its migration to the Phoenix Core solution, deployment of Finastra Digital Banking for retail and mobile operations, and integrations with the firm’s software partners, including Glia, for automation. 

REtech, InsurtTech and Investing


American auto dealers (now) have new options with the launch of a Dealer Open Lot program by FloodFlash. The program enables innovative sensor-based policies that deliver accurate data to align claims with losses. Additionally, the sensors instantly transmit the data to ensure real-time assessments. 


Boutique InsurTech Clearcover collaborated with AI-driven customer FinTech to improve engagement experiences. The cooperation integrated Ada’s AI Agent with Clearcover’s ecosystem, streamlining everything from the online chatbots to internal processes. Within the first month of operations, the solution resolved 35% of chat issues. 

Munich Re Specialty–North America/Kalepa 

Premier InsurTech Kalepa integrated its Copilot solution into Munich Re Specialty–North America’s ecosystem. The AI-driven solution automates end-to-end processes, including documents, operations, and risk analysis. 

It also provides analytics and insights, improving the reinsurance experience for brokers and other players.