New solutions continued to emerge in tandem with partnerships. Election concerns did little to calm fever-pitch activity. Regulators took a proactive approach.
Headlines to take note of:
- Asset managers have a new plus from BlackRock for private markets;
- Fidelity Investments launched the beta version of its trading platform;
- Ripple launched a crypto custody service;
- Stripe’s crypto payments are back in America;
- Plus, Oracle hit it big with a new ecosystem (read on to find out);
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Investment behemoth BlackRock introduced a new solution for asset managers in private markets. eFront Provider enables an overview of sector happenings, opportunities, and processes.
The product runs alongside BlackRock’s ecosystem. The financial services-focused Apex Group was the first to integrate the offering into its operations.
Franklin Templeton/Envestnet
Following their (prior) partnership, Franklin Templeton and Envestnet teamed up to deliver custom, flexible, and seamless strategies via Franklin’s “Canvas” solution. Envestnet’s clients now have access to the integration.
Furthermore, the deployment enables direct indexing for FIs and other professionals.
Fidelity Investments
Thanks to Fidelity Investments, a new desktop trading application is coming soon. On October 8, the financial services firm rolled out Active Trader Pro’s beta iteration.
Moreover, a waitlist for the final version is on the Reddit social media platform.
Precidian Investments/Cboe/Canadian Imperial Bank of Commerce (CIBC)
Product-focused Precidian took things further for ADRs via hedging with ADRhedged™ securities (ADRHs). The firm unveiled plans to list the new offering on Cboe.
Consequently, Precidian collaborated with CIBC to provide hedging options for the new instrument.
Crypto, Blockchain, and Digital Assets
Ripple Labs
XRP token owner Ripple upped its game with the launch of “Ripple Custody,” an institutional-focused crypto storage service for FIs and Fintechs. The firm designed the platform to meet strict requirements for compliance and technology.
Ripple Custody has several features, including tokenization, trading, and hardware security integrations.
Stripe returned to the crypto space by reintroducing crypto payments in America. Customers can make payments using USDC or USDP tokens.
Conversely, Stripe will pay merchants in dollars with a 1.5% fee and $0.3 charges.
DeFi giant Uniswap unveiled plans to launch Unichain, an Ethereum Layer-2 network on Optimism. Uniswap wants to design the new chain to solve scaling and liquidity issues.
Additionally, the Optimism integration will help solve cross-chain interoperability problems.
Fintech, Personal Finance, and Apps
Docupace boosted the wealth management industry with a new version of its platform. The newly redesigned ecosystem comes with a nicely designed interface and other features.
They include wizard-based marketplace integrations, faster processing, real-time reporting, and customized controls.
Modern Treasury
Payment-focused Modern Treasury kicked the e-commerce sector with ecosystem upgrades. They include FedNow capabilities (plus ACH fallbacks) alongside access to Request for Payment (RFP) functionality.
Moreover, the additions have AI-powered integrations that provide faster workflows.
FinTech Automation, LLC (“FTA”)
Again, FTA raised the temperature for FIs, neobanks, and CUs with card-issuing capabilities for its ChargeIt™ platform. The offering enables the issuing of branded cards and their concurrent management.
Additionally, ChargeIt™ enables FIs to issue all kinds of cards and offer all types of programs, including rewards, consumer, virtual, teen, and family-oriented cards.
In related news, FIs now have options with the Oracle Financial Services Crime and Compliance Management Investigation Hub Cloud Service. The tech giant revealed the product at the Oracle Financial Services Summit in New York.
The new solution offers FIs, insights, and information into risks, interest margins, compliance, and other critical financial and banking lifecycle elements.
The boutique payments ecosystem FreedomPay has revealed its integration with Stripe. The move gives retailers on FreedomPay’s network access to Stripe’s seamless payment infrastructure.
Banking, Payments, and Infrastructure
Treasury Prime/ComplyCo
On the compliance end, Treasury Prime and ComplyCo announced their collaboration. The offering provides FIs and related fine-tuning capabilities.
Furthermore, the deployment integrates Treasury Prime’s platform with the ComplyCo compliance rule engine, enabling instant access and on-the-go decisions.
Premier credit rating ecosystem TransUnion revealed its partnership with niche neobank MoneyLion. The collaboration enables personalized offers for MoneyLion’s customers, and its credit capabilities are (now) available within TransUnion’s ecosystem.
In addition, MoneyLion-linked FIs can access TransUnion’s data set.
CoreFirst Bank and Trust/NuMark Credit Union/NCR Atleos
Topeka, Kansas-based CoreFirst Bank and Trust announced its membership of the Allpoint Network (by NCR Atleos). The integration improves self-service options (for customers).
Moreover, the cooperation enables access to the 40,000-strong NCR ATM charge-free ecosystem.
In related news, Joilet, Illinois-based NuMark Credit Union collaborated with NCR Atleos. The partnership also includes a self-service upgrade.
Lakeside Bank/Volante Technologies
Chicago-based Lakeside Bank has SWIFT, FedNow, and other real-time (RTP) functionalities via collaboration with Volante Technologies. The partnership also allows for deploying the Volante Payments-as-a-Service (PaaS) platform.
Furthermore, the integration leverages API-focused platforms.
REtech, Insurtech and Investing
Boutique Insurtech Mejesco revealed the Fall release of its Copilot product as part of a series of critical updates. Majesco Copilot (now) reduces the claims processes via its document capture, conversion, and digitization tool.
Consequently, the overhaul extends across its ecosystem, including its Digital1st Platform, ClaimVantage Enterprise Claims, and P&C Intelligent Core.
Covr Financial Technologies
Similarly, digital insurance firm Covr launched a new version of its advisor solution. The solution (Advisor 3.0) has new features that improve efficiency, including CRM integrations, automation, and compliance checks.
Additionally, with the product, it (now) takes ten days to process cases with halved workflows.
Adaptive Insurance
To mitigate power outage risks, Adaptive Insurance introduced an AI-powered product. GridProtect enables the instant disbursement of payouts to affected businesses.
Moreover, the automated solution leverages climate data to improve risk
management processes.
