Things moved into full gear as the industry prepared for the end of 2024. Innovation was still critical, but partnerships took center stage.
Headlines to take note of:
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- TT unveiled upcoming Cboe integrations;
- OTC Markets enabled access to the National Market System infrastructure;
- Vanguard launched twin muni ETFs;
- DTCC wants to make tech sandbox digital asset contributions ;
- Plus, Coverdash introduced embedded insurance on LendingTree’s platform ;
- And much more!
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Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Trading Technologies International, Inc. (TT)/Cboe
In a November 19 announcement, markets-focused TT revealed upcoming client access to equity index options (by Cboe). Users will (expectedly) have access to the instruments next year.
Additionally, the deployment will enable clients to trade positions on several indexes, including the S&P 500 Index (SPX), Russell 2000 Index (RUT), Cboe Volatility Index (VIX), and more.
OTC Markets Group/National Market System (NMS)
Trading solutions operator OTC Markets Group launched MOON ATS, a solution that offers improved access to securities trading. Investors now have access to NMS securities during overnight trading sessions.
Furthermore, the product enables American investors to have evening and overnight access. Those in the APAC region also have access to the markets during (their) regular hours.
Vanguard Group, Inc.
Premier investment advisor Vanguard introduced the Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) and the Vanguard Core Tax-Exempt Bond ETF, twin municipal-focused ETFs. The dual offerings provide multi-faceted, broad-ranged risk exposure.
Moreover, the dual ETFs are long-term-focused.
Northern Trust/CloudMargin
Boutique financial services firm Northern Trust unveiled a collateral solution that improves management activities for institutional clients. Northern Trust deployed the offering with sector leader CloudMargin.
The product has several capabilities, including comprehensive automation, client access to live data, agile frameworks, and more.
Crypto, Blockchain, and Digital Assets
The Depository Trust & Clearing Corporation (DTCC)
Post-trade specialist DTCC revealed plans to make its digital asset tech stack available to the industry for sandbox purposes. The Fintech behemoth aims to enable access so developers and key players can scale their products to proof of concept.
Messari Protocol Services/Solana
Crypto research firm Messari introduced its Solana Portal on November 20. In an announcement, Messari indicated that the centrally accessible resource will provide information and data about the Solana network.
Furthermore, the solution offers insights rather than a data-only approach.
PayPal/Xoom/Yellow Card/Cebuana Lhuillier
E-commerce giant PayPal continued to promote its PYUSD stablecoin with integrations via its Xoom transfer ecosystem. PayPal revealed that it will settle cross-border transfers using the PYUSD.
Consequently, Yellow Card and Cebuana Lhuillier are the setup’s first settlement partners.
Fintech, Personal Finance, and Apps
Fintech, Personal Finance, and Apps
Avalara, Inc.
Tax-focused Fintech Avalara introduced Avalara Tax Content (ATC), a lodging tax solution for the hospitality services industry. The AI-powered offering helps key players improve tax calculations by gathering, processing, and collating data.
ATC has several capabilities, including automated processes, optimized tax calculations, updated tax content, and more.
Consumer Financial Protection Bureau (CFPB)
On the regulatory end, the CFPB enacted regulations to include nonbanks with 50 million annual transactions. The new framework covers consumer financial behavior and data collection by Fintechs.
Additionally, the rules offer improved fraud protections and require the players to provide users with opt-out options.
Klarna/Google Pay
Boutique Fintech Klarna revealed that Google Pay’s American customers now have access to its interest-free BNPL offerings during the checkout process. Customers within Google Pay’s ecosystem will access installment payment options for purchases worth $35 or more.
The AI-leveraged ecosystem also offers efficient APR financing alternatives and an app that covers everything end-to-end, including payments, returns, and deliveries.
Intuit, Inc.
Popular small business-focused Fintech Intuit unveiled Intuit Assist for QuickBooks, a GenAI assistant for growth and operations. The solution enables automation for manual tasks alongside bill payment capabilities.
Intuit Assist is available to American-based QuickBooks Online customers.
Banking, Payments, and Infrastructure
On the AI end, Temenos launched a GenAI solution for banks and FIs. The localized GenAI offers real-time data analytics and actionable scenarios with a tight lid on access and control.
Consequently, the solution leverages NVIDIA NIM microservices, an NVIDIA AI Enterprise ecosystem component.
Greenville, South Carolina-based Spero announced the deployment of a banking product from Lumin Digital. The integration is a part of ongoing digital transformation efforts.
The collaboration has expanded Spero’s coverage into three new segments: business, retail, and teen.
Fin Technologies, Inc. (MANTL)/Underdog Technologies, Inc. (Pinwheel)
Account services-focused MANTL selected niche Fintech Pinwheel for Direct Deposit Switching deployment. The integration leverages Pinwheel’s PreMatch offering to offer FIs with seamless processing.
Moreover, the cooperation automates the deposit process. FI customers can enter their payroll details after transactions occur.
CommonWealth Central Credit Union/Jack Henry
San Jose, California-based CommonWealth Central CU teamed up with premier banking software Fintech Jack Henry as part of an ecosystem upgrade. The deployment includes access to Jack Henry’s platform, including its open API.
The transition also has upgrades for both customer-facing employees and back-office operations.
10x Banking/First Mile Group, Inc. (Alloy)
On the compliance end, cloud-focused 10x Banking cooperated with boutique Fintech Alloy to introduce a customer-focused KYB, KYC, and credit decisioning solution. The collaboration integrates the Alloy identity ecosystem with the 10x meta-core offering.
In addition, the partnership gives FIs using the 10x banking solution access to Alloy’s extensive data network.
REtech, Insurtech and Investing
InstaBrain, Inc./Fidelity Life
InstaBrain, a data-focused underwriting ecosystem, partnered with Fidelity Life to enable Insurtech solutions’ access to the sector. The deployment also integrates InstaBrain’s infrastructure with Fidelity Life’s products.
Furthermore, industry professionals can focus on delivering products to their customers efficiently.
Akur8/American Association of Insurance Services (AAIS)
Boutique Insurtech Akur8 unveiled its cooperation with industry P&C nonprofit AAIS to combine forces. The partnership integrates Akur8’s platform with the AAIS ecosystem, improving predictive modeling and enhancing value chain integrations for members.
Consequently, the collaboration provides improved pricing options for customers.
SMB-focused Insurtech Coverdash cooperated with LendingTree, a loan marketplace, to provide its customers with business insurance. The collaboration improves credit profiles and enhances startups’ access.
Additionally, Coverdash provides SMBs with options across several carriers for several policy types.
