The Thanksgiving week combined with end-of-month activities slowed things down a bit in the digital wealth sector, but the industry performed optimally, with product utility gaining ground.
Headlines to take note of:
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- There’s a new round-the-clock trading system with NMS access;
- Thanks to a partnership with Quartr, Perplexity provides users with retail trading information;
- The fixed-income markets gained new solutions with BNY, Broadridge, and TransFICC churning out innovation;
- Plus, Quicken unveiled a product that unifies financial data under one umbrella;
- And much more!
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Of course, it’s your week in digital wealth!
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Wealthtech, Regtech, Regulatory, and Treasury
24 Exchange/SEC/National Market System (NMS)
Boutique ecosystem 24 Exchange revealed approval from the SEC to introduce the first non-stop trading platform. According to its filing, 24 Exchange wants to list NMS offerings on its automated system for 23 hours weekly and on some holidays.
The 24X National Exchange will also enable global access to American equities and be subject to ongoing regulatory compliance.
Research-focused Qartr and Perplexity teamed up on the AI end to provide real-time information for retail users. The deployment enables access to live and historical earnings call transcripts.
Furthermore, Perplexity’s infrastructure provides unique, AI-powered insights and analysis.
BNY Mellon
Financial behemoth BNY Mellon integrated its LendingLiteSM solution with its (new) CollateralOne offering, creating new opportunities for the buy-side market segment. The combination also enables special credit scenarios for the fixed-income markets.
Moreover, the move centralizes collateral opportunities via the implementation, creating process efficiency.
Broadridge Financial Solutions, Inc./TransFICC
Similarly, Broadridge’s LTX partnered with boutique e-trading firm TransFICC to improve vertical integrations. The collaboration enables access to the LTX RFQ+ feature, improving bond trades.
In addition, the cooperation reduces operational costs and simplifies workflows.
Crypto, Blockchain, and Digital Assets
Ondo Finance/LayerZero
Institutional-focused Ondo Finance revealed its integration with the crypto interoperability protocol LayerZero. The move expands access to its tokenized Treasury product USDY across several blockchains, including Arbitrum, Ethereum, and Mantle.
Additionally, the deployment enables Ondo’s OFT transfers across networks without users needing to mint new tokens.
Mastercard/J.P. Morgan
Mastercard and J.P. Morgan teamed up to improve cross-border payments and transfers. The collaboration combines the J.P Morgan Kinexys network with Mastercard’s multi-token network.
Furthermore, the dual solution features several onramps and offramps, improving payment and settlement efficiency.
Grayscale Investments, LLC
Premier crypto asset manager Grayscale enabled private placement access to 19 crypto trusts. This move allows for exposure to several tokens, including XRP, Solana, NEAR Avalanche (AVAX), and more.
Accredited investors will have net asset value (NAV) opportunities.
Fintech, Personal Finance, and Apps
Quicken, Inc.
All-American personal finance Fintech Quicken introduced Quicken LifeHub, an offering that covers daily financial issues. The solution combines all personal finance-related information under one umbrella, providing centralized access on the go.
Moreover, Quicken LifeHub offers instant access to vital financial information during critical events.
Leap, LLC
Premier software consulting firm Leap introduced the Universal Credit Application for contractors. The offering provides a single application process, enabling access to several lenders and streamlining the financing process.
Consequently, the product improves customer satisfaction, enabling homeowners smoother experiences.
Esker, Inc.
CFO-focused Esker expanded its integrations with the Microsoft cloud ecosystem. In a November 26 announcement, Esker revealed deployments of its Connectivity Suite Accounts Payable (AP) solution with Microsoft Dynamics 365 Business Central and Microsoft Dynamics 365 Finance.
Furthermore, the integration automates Account Payable (AP) processes.
DoorDash, Inc./InComm Payments
Payments-focused InComm Payments and DoorDash revealed a collaboration that enables merchants to offer and deliver gift cards. The partnership improves the shopping experience for customers by providing the seamless supply and delivery of gift cards directly to customers within the DoorDash ecosystem.
Furthermore, the cooperation enables zero delivery fees, exclusive discounts, and other perks to the members-only DashPass program.
Banking, Payments, and Infrastructure
First Credit Union/EquipiFi, Inc.
Chandler, Arizona-based, First Credit Union, revealed the availability of Buy-Now-Later (BNPL) functionality for its members. The CU now offers eligible members the FirstFunds BNPL with pre-purchase and post-purchase features.
First Credit Union partnered with niche Fintech EquipiFi to launch the offering.
Boutique banking solutions provider Mbanq unveiled ‘Mbanq Comet‘, a digital, AI-leveraged loan origination ecosystem That fits into any banking core and offers easy deployment options for FIs.
Moreover, the cloud-based offering automates several tasks and processes loan applications in seconds instead of several weeks with legacy loan origination solutions.
Arrow Financial Corporation/Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company/NCR Atleos
In a November 26 news release, Arrow Financial revealed that two of its business units joined the NCR Atleos Allpoint ATM Network. Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company now have access to over 50,000 ATMs in America and globally.
Riverfront Federal Credit Union/Lumin Digital
Wyomissing, Pennsylvania-based Riverfront FCU, revealed its selection of Lumin Digital for the banking software deployments. The partnership includes Riverfront in Lumin’s ecosystem.
The deployment includes improved customer digital experiences, frequent upgrades, and more.
REtech, Insurtech and Investing
One, Inc./U.S. Bank
Leading Insurtech One collaborated with U.S. Bank to improve payment rails for the industry’s Property & Casualty (P&C) and Life Insurance segments. The partnership combines One Inc’s PremiumPay® and ClaimsPay® with U.S. Bank’s ecosystem for seamless payments.
Functionally, the cooperation enables access to U.S. Bank’s instant payment capabilities, including FedNow® and the RTP Network®.
iCover LLC
Chesterfield, Missouri-based Insurtech iCover introduced ‘iCover Direct™,‘ an online marketplace for life and health-related products. iCover Direct™ links customers, carriers, providers, and affiliates with related products.
Additionally, the platform leverages its algorithmic decision engine, delivering enhanced experiences.
Haven Servicing, Inc./Ownwell, Inc.
Mortgage servicing ecosystem Haven and property tax-focused Ownwell teamed up to improve tax situations. The combination integrates Ownwell’s tax data services with Haven’s newly introduced escrow monitoring feature.
Haven’s Escrow tool is available on its marketplace.
