Utility continued to be the focus on all fronts, with partnerships forming a backbone for activities. Tech integrations were in focus, with niche segmentation taking center stage.
Headlines to take note of:
- Bloomberg now has AI summaries;
- Capitolis upped its tech to speed up novations;
- Drivers in California will soon have blockchain-powered licenses;
- Women’s finance is (now) easy with Birdie, an AI-chatbot from Pocketnest;
- Plus, there are a few new players in the Insurtech sector;
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Financial infrastructure behemoth Bloomberg took its AI game further by integrating AI-generated earnings call summaries. Bloomberg introduced summaries to the Apple Vision Pro app, giving users access to the app on the go.
Niche trading Fintech firm Capitolis revealed the launch of a new solution that speeds up novation executions. The new solution can process (most) novations transactions at speeds relative to T+1.
Additionally, Capitolis revealed collaborations with key players, including banks, brokers, and hedge funds, to improve transaction speeds.
Investment-focused Enfusion revealed that the next generation of its Portfolio Workbench solution is (now) available. The offering enables single-window portfolio management, and the new version offers several improvements, including model rebalancing, portfolio optimization integration, mobile access, and more.
Additionally, the product can integrate with third-party optimizers via API access.
ETNA Software Corp./InteliClear LLC
Boca Raton, Florida-based trading software firm ETNA Software partnered with mid-to-back office operations specialist InteliClear to improve its post-trade processes.
The cooperation provides ETNA’s users with seamless post-trade capabilities and efficient self-clearing.
Crypto, Blockchain, and Digital Assets
California DMV/Avalanche
Interestingly, drivers in California will (soon) be able to claim their titles from an app within the Avalanche Network. The move follows the digitization of 42 million titles on the AVAX blockchain.
Ripple Labs/OpenEden
US Treasury bills will (soon) be available on Ripple’s XRP Ledger. According to an August 1 announcement from Ripple, the bills will be available via a partnership with tokenization firm OpenEden.
Additionally, Ripple will contribute $10 million in OpenEden’s TBILL tokens. The move is a broader part of Ripple’s investment strategy.
Lido Finance
Premier Ethereum staking firm Lido Finance announced the launch of institutional staking via its new solution (Lido Institutional). Consequently, large firms can deploy the product to stake their Ether.
Fintech, Personal Finance, and Apps
cPaperless, LLC (SafeSend)
On the AI end of things, tax and accounting professionals have a new GenAI solution from SafeSend (SafeSend One). The product automates the tax ecosystem, from documentation to tax preparations and returns.
Additionally, SafeSEnd One features the Gather AI automation warehousing ecosystem.
Website agencies within builder ecosystem Duda got a boost with a partnership with the Jack Dorsey-founded Square. The cooperation enables SaaS firms and agencies to embed payments with Square as a payment gateway.
Furthermore, users in Duda’s ecosystem can offer (several) payment transaction types, including gift cards, vouchers, tickets, and more.
Women (now) have a financial health-focused AI chat assistant from Pocketnest (Birdie). Birdie offers users the chance to create financial goals using customized prompts.
Additionally, the GenAI product offers FIs several advantages, including (increased) market presence and innovation.
To improve B2B payments, expense-focused Emburse collaborated with the Accounts Payable (AP) ecosystem Finexio. The partnership integrates the Emburse platform with Finexio’s ecosystem and has several payment options for AP teams, including ACH and cards, within an AI-driven fraud prevention framework.
Banking, Payments, and Infrastructure
Buy Now, Pay Later (BNPL) premier firm Equipifi introduced “Plan Your Purchase,” a pre-purchase offering for FIs. Plan Your Purchase enables FIs to provide customers with installment payment options for $500-$2,000 during shopping.
Consequently, FIs can determine eligibility for the offering based on preset parameters.
Northeast Bank/CorServ
Minnesota-based Northeast Bank selected payments-focused Fintech CorServ to introduce its new credit card offering for business customers. The offering will deploy via CorServ’s account issuer framework. Additionally, commercial customers gain rewards from using cards issued under the program.
Texas-based TransPecosBanks selected AI-focused Oscilar for its compliance processes as part of its scaling efforts. The move integrates AI-powered compliance procedures within TransPecosBank’s ecosystem.
Fifth Third Bank (Newline)/Stripe
The embedded payments sector got a boost with premier payments Fintech Stripe partnering with Cincinnati, Ohio-based Fifth Third Bank. The collaboration enables direct account integration via Newline, a Fifth Third embedded payments ecosystem.
Furthermore, in a July 29 announcement, Fifth Third revealed plans to deploy “Stripe Treasury,” an embedded accounts’ product, later this year.
REtech, Insurtech and Investing
Niche Insurtech Ivans revealed the extension of the commercial lines within its ecosystem. The improved Ivans Distribution Platform™ (now) supports new lines, including Professional Liability, directors and officers (D&O), Commercial Property, Commercial Auto, Cyber, Errors and Ommissions (E&O), Inland Marine insurance solutions, and others.
Additionally, the upgrade enables direct quoting for industry players, including insurers and Managing General Agents (MGAs).
Cyber insurance firm KYND announced its move to American markets from across the pond in the United Kingdom. The USA launch provides Cyber insurance options for businesses.
CLARA Analytics
AI-powered Insurtech CLARA Analytics launched a (new) solution to improve legal and medical documentation in the claims process. Claims DocIntel Pro enables professionals to gain improved insights and engage on the go.
Furthermore, CLARA unveiled plans to include further improvements, including attorney and provider scoring, (advanced) fraud detection capabilities, and more in 2025.
Applied Systems®
Industry cloud provider Applied Systems® introduced a data analytics solution into its ecosystem (Epic Dashboards). Epic Dashboards is a part of the Applied Epic® ecosystem. Consequently, the offering is (only) available in the USA and Canada.
