Innovation resumed its front-seat status, with partnerships giving rise to fast-paced deployments. Interestingly, there are a few “old vs. new” solutions that reflect everyday all-American scenarios.
Headlines to take note of:
- Nasdaq launched a solution for secondary markets;
- The ICE ecosystem now has voice functionality;
- Broadridge unified asset servicing activities;
- The SEC approved options trading for BlackRock’s crypto ETF;
- Plus, J.P. Morgan may take over the Apple credit card ecosystem;
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Nasdaq Private Market (NPM)
Secondary liquidity-focused firm Nasdaq Private Market (NPM) launched “NPM SecondMarket,” a solution that aims to unlock opportunities in the tier two markets. The offering is modular and caters to each private market segment.
Additionally, “SecondMarket” caters to four industry components, including companies, employees, investors, and data.
Bank of New York Mellon Corporation (BNY Mellon)
Similarly, BNY Mellon introduced “Alts Bridge,” an end-to-end platform allowing users access to private investment products. “Alts Bridge” integrates with Pershing X’s “Wove” and “NetX360+.”
Furthermore, the solution has powerful AI-focused analytics tools that improve efficiency.
Intercontinental Exchange (ICE)/IPC Systems
On the communications end, ICE teamed up with IPC Systems to unveil “ICE Voice,” an audio product available via its flagship “ICE Chat.” The move adds voice communications capabilities for traders and other industry professionals.
Broadridge Financial Solutions, Inc.
Innovatively speaking, Broadridge took things further by combining industry sectors under a single umbrella. The boutique Wealthtech firm revealed the unification of its asset-servicing activities in a single multi-currency solution.
Moreover, “Broadridge Global Asset Servicing” has unidirectional data integration capabilities.
Crypto, Blockchain, and Digital Assets
The SEC approved options trading for BlackRock’s “iShares Bitcoin Trust” (IBIT). Options would trade similarly to other ETF instruments by the rules.
The underlying security should have an excess of widely traded, active shares.
Circle/Sony Block Solutions Labs/Soneium
Stablecoin issuer Circle partnered with Sony Block Solutions Labs to deploy a USDC bridge on the Soneium Ethereum Layer 2 blockchain. The parties aim to stimulate the creator economy.
Moreover, the USDC will (expectedly) become (one of) the ecosystem’s primary tokens.
The State of Louisiana/Bead Pay, LLC
The crypto adoption conversation continued with the State of Louisiana revealing the acceptance of crypto payments for services. On September 17, Louisiana State Treasurer John Fleming announced that residents can (now) pay for services using Bitcoin (via the Lightning Network) and the USDC stablecoin.
The State partnered with boutique crypto solutions ecosystem Bead Pay to deploy accessibility. Furthermore, the Louisiana Department of Wildlife and Fisheries is the first agency to accept Bitcoin payments.
Fintech, Personal Finance, and Apps
Intuit, Inc.
Small business-focused Intuit took the productivity game further with the launch of “Intuit Enterprise Suite,” a financial product bundle that boosts scaling and productivity. The AI-powered ecosystem has several features, including payments and marketing.
“Intuit Enterprise Suite” also has third-party app integrations and is compatible with day-to-day functions for Quickbooks users.
J.P. Morgan/Apple
According to a September 18 Wall Street Journal report, J.P. Morgan and Apple are (allegedly) in talks to revive the iPhone maker’s credit card program that Goldman Sachs previously powered.
Following Goldman’s exit from the partnership, the banking behemoth took the top spot as a possible competitor.
Brex, Inc./Mastercard
Expense management-focused Brex announced the scaling of its partnership with Mastercard to include “Brex Embedded payments,” an API-leveraged product that gives B2B software vendors integration capabilities with Brex virtual cards.
Additionally, the solution deploys Mastercard’s virtual card ecosystem to give developers improved workflows.
Bankwell Financial Group/Lendio
New Canaan, Connecticut-based Bankwell Financial Group gave Small Businesses an easier pathway to SBA 7(a) loan offers via a collaboration with digital lending Fintech Lendio.
Bankwell offers seamless loans to new applicants, existing customers, and leads from selected partners via Lendio’s digital loan platform. Moreover, the deployment simplifies the process.
Loan origination and automation activities improved with a partnership between boutique lending Fintech Participate and banking software firm nCino. The collaboration creates a digital loan process via deployments between both platforms.
Furthermore, the deployment closes gaps in the loan process, creating seamless experiences for users.
Banking, Payments, and Infrastructure
Wells Fargo
Banking giant Wells Fargo boosted its commercial business with new APIs. The new suite of APIs has several features, including money management capabilities, seamless order processing, real-time inventory availability, inventory planning tools, and efficient integrations to third-party ecosystems.
Consumers Credit Union (CCU)/Lumin Digital
Consumers Credit Union (CCU) tapped Lumin Digital to deploy its cloud-based digital banking solution. According to CCU, the integration will improve banking experiences for users and card services.
Treasury4/J.P. Morgan Payments
Spokane, Washington-based Treasury4 revealed it’s joining the J.P. Morgan Payments network. Clients on both sides can access dual options via Morgan Money and Cash4. Additionally, the combination provides an improved data-driven approach via Treasury4’s analytics-based ecosystem.
Zil Money
B2B payments are now easier with a new API from Zil Money. The payments-focused provider launched “Check Mail API.” The service enables mailing options for checks via several options, including First Class Check Mailing (for $1.25) and FedEx Overnight USA/Canada (for $24.99).
Furthermore, Zil Money enabled automated recurring payment options.
REtech, Insurtech and Investing
Factual Data/Tavant
Pittsburgh, Pennsylvania-based Factual Data collaborated with digital products firm Tavant to enable the availability of credit pre-qualification reports to lenders within the Tavant FinConnect ecosystem.
Additionally, the integration improves the digital mortgage experience for lenders and their customers.
Allianz Partners USA
Travel-focused Allianz Partners USA introduced its (recently) redesigned Universal Claims Portal with new features. Users have improved claims processes with document uploads, progress notifications via SMS, email, or within the ecosystem, and increased automation.
Moreover, after comprehensive reviews, Allianz Partners revealed a “human-only” approach to denials.
AI-focused Insurtech Majesco unveiled its improved platform. The Majesco Copilot-powered platform streamlines workflows and enables task automation. Furthermore, AI partners on the new platform include CoreLogic, Gradient AI, Charlee AI, CyberCube, and Fenris.
