Product launches were a thing last week, with integrations providing faster access and ease of use. Regulatory actions were heavy-handed with fines, but the industry kept delivering.
Headlines to take note of:
- TS Imagine launched the latest version of its platform;
- S&P Global Market Intelligence revealed an AI-powered tool for the markets;
- The BIS is now into blockchains of all kinds;
- PayPal was back again with integrations;
- Credit Unions emerged stronger;
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
TS Imagine
Leading financial solutions firm TS Imagine revealed the launch of Platform 3.0, the latest iteration of its ecosystem. Platform 3.0 has several features, including increased data access and higher automation levels.
Furthermore, Platform 3.0 features increased fixed-income asset classes.
S&P Global Market Intelligence
On the AI end, S&P Global Market Intelligence introduced Visible Alpha AI Monitor, which explores data from 66 publicly traded American firms. The AI-driven solution understudies analyst revenue earnings to give users a big picture.
Moreover, following the end of the Q2 earnings season, the offering provides unique insights and trends, enabling on-the-go decisions.
Premier FX data network Tradefeedr revealed the integration of FactSet’s ecosystem to its Portware platform. The move gives Factset’s users access to Tradefeedr’s pre-trade solutions within its EMS.
In addition, the deployment enables data clarity and improved processes.
Crypto, Blockchain, and Digital Assets
Bank for International Settlements (BIS)
According to a recently published paper from the Basel Committee on Banking Supervision of the BIS, Banks using permissionless blockchains to conduct transactions face multiple risks. They include governance, technology, legal, and compliance risks.
Consequently, the paper made several recommendations, including deploying Zero-Knowledge Proofs (ZK-Proofs) for privacy.
World Federation of Exchanges (WEF)
Following the collapse of several prominent crypto exchanges, the WEF published a “good practice” template document for crypto asset providers. According to the document, asset separation, regular audits, risk disclosures, and other compliance-related recommendations should form the backbone of operations.
Lightning Network specialist firm Lightspark unveiled “Lightspark Extend,” an offering that enables the integration of instant Bitcoin payments. The solution is available to eligible account holders across America.
Furthermore, the feature is (fully) integrated with Universal Money Addresses (UMA) and embedded Lightning Network-enabled wallets.
Fintech, Personal Finance, and Apps
E-commerce giant PayPal expanded its (ongoing) cooperation with Fiserv. According to an August 29 press release, merchants within Fiserv’s ecosystem will enable seamless access to payment options on PayPal’s platforms.
Furthermore, the cooperation provides straight-through access to “Fastlane by PayPal.”
The creative industry got a boost with a collaboration between Accounts Payable (AP) automation specialist AvidXchange and knowledge economy software provider Workmajig.
AvidXchange will (exclusively) provide invoice automation functionality for Workmajig’s software ecosystem users. Additionally, the integration enables transparency and real-time notifications for users.
Payments-focused Fortis announced several integrations (and features) with accounting and ERP provider Sage Intacct. The features include mass, automated, and recurring payment functionalities, customer and transaction synchronization capabilities, and more.
Galileo Financial Technologies/Mastercard
B2B-focused Fintech Galileo revealed its latest offering. Clients (now) have access to Mastercard Smart Data, a premier expense and analytics offering.
Furthermore, niche Fintech automation firm Rho is Galileo’s first client.
Cybersecurity-focused Buckler revealed added services for clients using Open VRM, its risk management platform. Vendors (now) have access to due diligence services. In addition, Buckler’s due diligence feature is up-to-date (and compliant) with leading laws and regulations.
Banking, Payments, and Infrastructure
Florida Bank/Apiture
Pierson, Florida-based Surety Bank chose niche Fintech provider Apiture to deploy its mobile and business banking needs. Through cooperation (and Apiture’s Digital Banking Platform), Surety Bank will deploy services to its business and individual clients.
Additionally, Apiture’s ecosystem offers world-class security and fraud prevention features.
Global payments Fintech continued its American foray with a partnership with InvoiceASAP. The cooperation enables instant FedNow payments for small businesses. Moreover, the move enables immediate access to funds, giving businesses faster turnover rates.
ModernFi/Tru Treasury
Boutique Credit Union Service Operator ModernFi teamed up with Tru Treasury to deploy balance sheet management tools for the sector. The cooperation enables Credit Union to improve their business banking capabilities.
In addition, the integration provides FIs with data-driven insights and tools.
Cync Software
FIs (now) have better loan options with the introduction of Cync Syndicated Lending (by Cync Software). The niche Fintech designed the cloud-native offering to service (and automate) syndicated and participation loans.
Furthermore, the solution is available to FIs across America.
REtech, Insurtech and Investing
CLARA Analytics/IAT Insurance Group
Raleigh, North Carolina-based IAT Insurance Group selected CLARA Analytics to deploy its Claims Document Intelligence Pro (Claims DocIntel Pro) solution. The collaboration targets the seamless deployment of IAT’s auto and general liability claims procedures.
Additionally, the integration mitigates oversight risks and speeds up claims handling.
Boutique QR Code platform Flowcode announced its cooperation with niche embedded insurance provider REIN to give customers (easy) access to coverage quotes and more. Businesses can (now) offer their customers access to insurance via a quick scan.
Moreover, the move enables access to insurance both online and offline.
Risk Ready Ventures/Operation Spark
Insurance preparedness firm Risk Ready Ventures revealed the launch of its mobile app. In an August 27 announcement, the firm unveiled its availability. Risk Ready’s mobile app has everything users need to educate and prepare themselves.
The app has several features, including virtual inspections, risk analysis, claims and project management, community forums, and more. Risk Ready developed the app with the nonprofit Operation Spark in New Orleans, Louisiana.
