“Integrations” remained last week’s buzzword, with end-user utility defining the Fall’s tone. The winners remained those who could best solve problems within well-defined regulatory frameworks.
Headlines to take note of:
- Cboe was back again with a new index;
- BlackRock’s digital asset collateral plans are coming to fruition;
- Middesk introduced a business-focused risk-scoring solution;
- What do Swift, AI, and fraud detection capabilities have in common? (read on to find out);
- Plus, a big bank commercially released its authentication offering (guess who it is!);
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Cboe Global Markets/S&P Dow Jones Indices (S&P DJI)
At the 39th Cboe Global Risk Management Conference, Cboe and S&P DJI revealed plans to launch the volatility-focused Cboe S&P 500 Constituent Volatility Index (VIXEQ Index). The new index measures the 30-day anticipated volatility of the S&P 500 combo.
Additionally, the index leverages the previously launched Cboe S&P 500 Dispersion Basket Index (DSPBX Index).
Depository Trust and Clearing Corporation (DTCC)
On the fixed-income end, DTCC introduced a security-based master file data solution. The high-speed offering enables faster access to fixed-income data.
Furthermore, the product has over 20 extra components, including interest rate, coupon frequency, bond duration, and embedded option functionalities.
Altvia Solutions
Altvia boosted private fundraising efforts with the launch of AIMPro for Fundraising. The investor-focused solution improves the capital lifecycle with several integrations, including the Salesforce CRM.
Consequently, the solution automates the process, reducing the need for manual input.
DriveWealth, LLC
Premier Brokerage-as-a-Service provider DriveWealth revealed several integrations with (several) EMS ecosystems, including TRAFiX, LSEG Autex, and Bloomberg EMSX. The deployments give traders on DriveWealth’s platform improved vertical integrations without needing top-to-bottom executions.
Crypto, Blockchain, and Digital Assets
Blockchain infrastructure firm Paxos introduced an all-in-one stablecoin platform. The new ecosystem enables fiat-to-crypto conversations between the USDC, USDP, and PYUSD.
Additionally, Stripe is the first firm to leverage the new offering.
According to an October 18 Bloomberg report, BlackRock expanded its crypto collateral initiative for its BUIDL token. Hidden Road and FalconX already utilize the token in this manner.
Furthermore, BlackRock is (reportedly) in talks with leading exchanges, including OKX and Binance, about deploying the setup.
Following the (recent) wrapped Bitcoin (wBTC) drama in the crypto sector, Kraken pulled ahead with plans and introduced the Kraken Wrapped Bitcoin (kBTC). The wrapped ERC-20 token is equivalent to 1:1 with Bitcoin and aims to improve liquidity in decentralized finance (DeFi) ecosystems.
Kraken has custody of the kBTC tokens.
Fintech, Personal Finance, and Apps
Cash App Pay/Lyft
Taking a ride is now (easier) with a partnership between Lyft and Cash App. Customers no longer have to pull out their cards when hailing rides.
Furthermore, they can (either) use Cash App or a linked card to make payments.
To make things smoother for enterprises on the compliance end, AI-focused software provider IFS and tax specialist Sovos teamed up. The collaboration integrates the Sovos tax ecosystem with the automated IFS Cloud ERP.
Moreover, the deployment allows CFOs to remain ahead per the rules and improves efficiency.
Middesk, Inc.
Similarly, boutique Know-Your-Business platform Middesk launched Signal, a solution that digitizes and speeds up the risk-scoring process.
In addition, Signal leverages the same datasets and analytics that power the Middesk business identification platform.
Visa/Analytic Partners
Thanks to a partnership between Visa and Analytic Partners, merchants and brands now have improved access to insights. The cooperation combines Visa’s merchant-consumer data insights with Analytic Partners’ consumer-focused spending data.
Furthermore, the collaboration has the United States as an initial focus, with global growth plans to follow.
Niche Fintech i-payout and boutique debit ecosystem SHAZAM took instant payouts to a new level via a new cooperation. The collaboration enables instant access to funds, enabling enterprises to deploy liquidity across business cycles.
Moreover, according to the duo, payment clearing times are now reduced to thirty seconds compared with traditional processes.
Banking, Payments, and Infrastructure
Global payment messaging network Swift has improved fraud detection with an AI-powered feature. The AI-powered tool integrates with the Swift Payment Controls Service.
Additionally, following the completion of a successful global pilot, the capability will be available in January 2025.
Alkami Technology, Inc./Nutmeg State Financial Credit Union
Rocky Hill, Connecticut-based Nutmeg State Financial Credit Union expanded its digital banking services via collaboration with leading banking software provider Alkami.
The partnership upgrades Nutmeg’s digital banking capabilities with (improved) analytics-focused insights that provide a basis for future product deployments.
Thanks to a new partnership between Citi and Mastercard, cross-border payments are (almost) instant. The cooperation combines Citi’s WorldLink Payment Services platform and the transfer features of Mastercard Move to enable payments from sixty-five origin countries to fourteen destinations.
Furthermore, the setup supports (additional) scenarios, including insurance and gig payouts, airline refunds, demand-based outflows, and others.
Surprisingly, Capital One revealed the commercial availability of its AirKey authentication solution. The banking giant revealed plans to enable FI access to the device-based near-field tap-to-pay product.
AirKey is available on both iOS and Android operating systems.
REtech, Insurtech and Investing
One, Inc./J.P. Morgan Payments
Leading industry-focused Insurtech One announced the extension of its partnership with J.P. Morgan payments. The collaboration now includes payment functionality for the Property & Casualty (P&C) sector.
Consequently, the cloud-based deployment integrates the J.P. Morgan Payments ClaimsPay platform with the One Inc.PremiumPay offering.
Bishop Street Underwriters/Kalepa
RedBird Capital Partners-owned Bishop Street Underwriters revealed the integration of leading Insurtech Kalepa’s AI Copilot. The move increases efficiency and provides unique insights.
In addition, the move enhances Bishop’s decision-making optimization across its MGAs and other members of its ecosystem.
On the mortgage end, income verification-focused Truv partnered with loan origination system (LOS)-focused Fintech Byte Software. The collaboration integrates the Byte Software LOS platform with the Truv verification ecosystem.
Furthermore, mortgage lenders now have access to accurate income and employment data.
In related news, EIS and AbsenceSoft revealed their collaboration. The partnership leverages the integration to manage and process several claim types, including leave and disability situations.
