Utility took over last week’s industry convo, with new features improving end-user experiences. Integrations also moved in that direction. Partnerships focused on cost reduction and operational efficiency.
Headlines to take note of:
- Bloomberg launched a new trading research solution;
- FactSet introduced a data product;
- PayPal paid Big Four EY in its first business crypto transaction;
- Visa hit everyone with a new embedded payment offering;
- Plus, American Express took STP to another level (read on to find out);
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
According to an October 1 press release, financial software behemoth Bloomberg advanced investment research with a new “Open-High-Low-Close (OHLC) Bar” solution. The offering provides investors and professionals with a different approach, including data flexibility and OHLC bar access.
The “OHLC Bar” is also ready to go in the cloud via Microsoft Azure, Amazon AWS, and the Google Cloud Platform (GCP).
CME Group/BrokerTec Holdings Inc.
On December 15 (to trade on December 16), U.S. Repo instruments will have Top of Stack (TOS) priority capabilities on the BrokerTec platform (via CME Globex). The new feature will give preference to passive orders according to preset requirements.
Furthermore, testing for the new update starts on October 10.
FactSet Research Systems Inc.
FactSet launched a new Data-as-a-Service (DaaS) solution to improve the financial data lifecycle. The offering enhances the efficiency of the data collection and management process by increasing process-based task completion rates faster.
Moreover, FactSet DaaS has several features, including quality control checks, custom query services, and unified data cross-referencing.
Fundamental Interactions Inc.
Similarly, market makers have options with a new Software-as-a-Service (SaaS) product from the boutique trading ecosystem Fundamental Interactions. The platform upgrade (now) includes automated quoting capabilities from Sundays to Thursdays, 8 PM to 4 AM (Eastern).
Crypto, Blockchain, and Digital Assets
E-commerce giant PayPal took things further by completing its first business payment using its native PYUSD stablecoin. According to an October Bloomberg report, PayPal paid off Ernst & Young via an SAP SE solution.
On the AI end, crypto data and analytics firm Messari launched its copilot. The AI assistant provides a comprehensive overview of the industry via text-based answers.
“Messari Copilot” also leverages over 30 terabytes of data to provide insights.
Premier crypto asset management firm Bitwise stabilized its ETF products by adding Treasuries. Bitwise filed with the SEC to convert “the Bitwise Bitcoin Strategy Optimum Roll ETF” to the “Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF.”
Moreover, the “Bitwise Ether Equal Weight Strategy” ETF and the “Bitwise Ethereum Strategy ETF” will (also) change similarly.
Fintech, Personal Finance, and Apps
The payment industry received a boost with the launch of Visa Commercial Solutions Hub (VCS Hub), a (fully) integrated ecosystem that enables the seamless integration of embedded payments. Visa aims to achieve efficient payment integrations via partnerships with FIs and FinTechs.
Moreover, the product offers quick onboarding and single sign-on capabilities on the front end, with enhanced security on the back end.
American Express/Boost Payment Solutions
U.S.-based merchants have straight-through processing (STP) capabilities via a collaboration between American Express and Boost Payment Solutions. The partnership enables commercial virtual Card processing services.
Furthermore, the integration enables merchants to access Boost Intercept®, the premier STP solution, at zero cost.
NetGain Technologies Inc.
Boutique enterprise tech provider NetGain launched a fixed-asset management accounting product that (fully) integrates with ERPs. AI-focused “NetAsset” gives accountants and financial professionals an edge via several capabilities, including compliance, automated asset import functionality, and QuickBooks connectivity.
Additionally, NetAsset enables a clear audit trail and improves process transparency.
Niche FinTech PayNearMe revealed the expansion of its partnership with PayPal. The extended collaboration features additional integration with the PayPal ecosystem.
In addition, the cooperation provides extra options via PayNearMe’s Smart Switch infrastructure.
Banking, Payments, and Infrastructure
Jack Henry/Victor Technologies, Inc.
To improve embedded payments, boutique FinTech Jack Henry revealed its collaboration with MVB Bank subsidiary Victor Technologies. The partnership enables the deployment of Payments-as-a-Service (PaaS) opportunities for FIs on the Jack Henry network.
Furthermore, the deployment provides access to the setup via a single API.
Alkami Technology/Intrepid Credit Union
As part of digital banking efforts, premier banking software provider Alkami partnered with Intrepid Credit Union. The upgrade includes self-service features and personalized experiences.
Additionally, the integration gives Intrepid access to its partner network, giving the CU further functionalities.
Miami, Florida-based state-chartered Ocean Bank revealed its collaboration with NCR Atleos to improve its services. The move also includes Ocean’s joining the Atleos Allpoint Network.
Consequently, the partnership provides Ocean’s customers free of charge access to over 40,000 ATMs across America.
Commerce Bank/FIS
Kansas City, Missouri-based Commerce Bank teamed up with leading FinTech provider FIS to improve customer engagement experiences. The cooperation integrates the Commerce Bank platform with FIS’ loyalty ecosystem.
Furthermore, the collaboration also includes several API deployments.
REtech, Insurtech and Investing
Duck Creek Technologies
The insurance industry has a (new) payment option with the launch of “Payments Facilitator” (by Duck Creek). The new solution provides the property & casualty (P&C) sector with globally available payment integrations.
Duck Creek Payments Facilitator (also) has several features, including FedNow access and Banking-as-a-Service (BaaS).
Niche Insurtech Insurity and OIP Robotics partnered to introduce “Document Intelligence,” an AI-powered data scanning and extraction product. The cooperation improves underwriting processes for MGAs and insurers.
Additionally, “Document Intelligence” has high precision rates (up to 99%), improving efficiency rates and reducing operational costs.
To improve claims processing, boutique Insurtech OneShield teamed up with Charlee.ai. The collaboration gives insurers an AI-focused edge, offering improved machine learning-powered analytics.
Furthermore, the partnership aids insurers in fraud prevention and litigation mitigation.
