Things moved smoothly in the industry, with players focusing on innovation. Government regulatory actions remained light and in the background.
Headlines to take note of:
- Hidden Road launched a fixed income solution;
- TT plans to integrate with the MIAX Onyx platform when it launches;
- Nasdaq wants to introduce 247 trading;
- The OCC lifted a few guardrails for banks;
- Plus, Consilient introduced a new correspondent banking model! (read on to find out);
- And much more!
Of course, it’s your week in digital wealth!
Interested in getting your brand in front of the massive & high level audiences of Digital Wealth News and AI&Finance? Click here to schedule a zoom meeting w/ publisher Cindy Taylor
Wealthtech, Regtech, Regulatory, and Treasury
Hidden Road
Global credit network Hidden Road unveiled a fixed-income-focused offering in a March 26 post. The solution follows its approval as a Fixed Income Clearing Corporation (FICC) clearing member.
Additionally, the product will support fixed-income repo and funding activities from the onset.
Trading Technologies International, Inc. (TT)/Miami International Securities Exchange, LLC (MIAX)
Markets-focused TT revealed plans to enable connectivity to the MIAX Futures Onyx (Onyx) platform. TT will activate the deployment when the ecosystem launches in Q2 2025.
Moreover, TT will also enable trading of the Bloomberg 500 Index (by MIAX Futures) when it launches in H2 2025. The takeoff is subject to the CFTC’s approval.
Premier exchange platform Nasdaq unveiled plans to enable round-the-clock trading. According to a March 7 Reuters report, Nasdaq is (reportedly) talking with regulators about deploying twenty-four hours a day, five working days of trading activities.
Furthermore, Nasdaq is discussing the issue with regulators, which will (expectedly) occur in H2, 2026.
On the AI end, asset management behemoth TCW Group partnered with Microsoft to deploy automated solutions in its portfolio management activities. The collaboration enables the deployment of several AI-powered solutions in its ecosystem, including Azure AI Search, Microsoft Azure OpenAI Service, and Cosmos DB.
Moreover, the deployment enables efficient processes, including automated securities analysis, efficient management, on-the-go risk and opportunity scenario identification, and more.
Crypto, Blockchain, and Digital Assets
The Office of the Comptroller of the Currency (OCC)
Federally regulated banks across America can now engage in certain types of crypto custody and stablecoin transactions following a March 7 letter from the OCC. The document rescinds the regulator’s previous 2023 statement about crypto risks for banks.
Consequently, the regulator advised FIs to have similar controls used for traditional financial ecosystems for new ones.
Skipify, Inc./Discover Financial Services, Inc.
On the tokenization end, checkout-focused Skipify partnered with Discover to enable a framework across its network. The collaboration allows for improved user experiences alongside enhanced transaction security.
Additionally, security tokens replace cardholder information via the setup.
Arkham Intelligence
Thanks to a new feature by blockchain analytics firm Akrham Intelligence, key opinion leaders (KOLs) can no longer hide their moves and transactions. Arkham unveiled the capability in a Twitter/X post.
Users can track the wallets of crypto influencers with over 100,000 followers on the Arkham platform.
Fintech, Personal Finance, and Apps
Avalara, Inc.
Tax-focused Fintech Avalara revealed integrations covering several areas, including ERP, accounting, payments, e-commerce, fraud detection and prevention, and point-of-sale. The deployments are comprehensive, offering end-to-end processes.
Furthermore, the deployments enable improved filings via Avalara’s automated ecosystem.
Americans can quickly build credit thanks to a niche Fintech Augie offering. The no-fee Augie credit card also has no security deposit fees or credit history requirements.
Additionally, the solution enables users to build their credit history via recurring payments.
Socure, Inc.
Identity-focused Socure expanded its footprint with Identity Manipulation Risk Score, an industry-first standard that helps prevent first-party fraud. The offering integrates with Socure’s Sigma First-Party Fraud solution.
Furthermore, the deployment improves the accuracy of fraud detection, improving accuracy in the process.
B2B compliance Fintech Trust2Connect introduced an automated Know Your Business (KYB) ecosystem. The AI-driven platform has several innovative features, including business scoring, data cross-referencing, owner identification, virtual site inspections, and efficient data retrieval times.
Moreover, the solution obtains data from across several domains.
Banking, Payments, and Infrastructure
Consilient, Inc.
To improve correspondent banking payment chains, boutique Fintech Consilient launched a solution that helps track payments across financial institutions. The ‘Correspondent Banking Model’ enables FIs to peer through payments and transfers from end to end.
In addition, the solution deploys an advanced machine-learning model to track transactions across multiple FIs.
American Eagle Financial Credit Union (FCU)/Alkami Technology, Inc.
East Hartford, Connecticut-based American Eagle Financial CU selected Alkami’s core banking offering as part of ongoing digitization efforts. Upgrades include improved card services, ACH support, and more.
Furthermore, the deployment enables digital account opening and onboarding capabilities.
WSFS Bank/Greenlight Financial Technology, Inc.
Similarly, Wilmington, Delaware-based WSFS Bank collaborated with niche Fintech Greenlight to provide teens with access to digital financial literacy tools. The cooperation includes access to educational materials and ‘Level Up,’ the Greenlight financial literacy game.
Moreover, the integration is available via the ‘Greenlight for Banks’ offering.
Arizona Financial Credit Union
A Buy-Now-Pay-Later (BNPL) option is now available to Phoenix, Arizona-based Arizona Financial Credit Union members. According to a March 4 press release, the offering has integrations with the CU’s product portfolio.
Additionally, the FI will provide personalized and pre-qualified offers to its members.
REtech, Insurtech and Investing
DXC Technology/ServiceNow, Inc.
Premier IT firm DXC teamed up with automation-focused ServiceNow to improve insurance industry operations. The collaboration birthed ‘DXC Assure BPM,’ a complete policy ecosystem for key players.
Consequently, the offering includes an AI-powered self-service portal for policyholders.
Niche Insurtech Kanguro made inroads in the Sunshine State with the launch of renters insurance. The offering enables renters in Florida to have extended options.
In addition, the solution enables coverage for various scenarios, including living expenses and personal belongings.
On the West Coast, boutique digital insurance platform Kin debuted a home insurance solution in the Golden State. California’s residents can now access the product via Kin’s direct-to-consumer ecosystem.
Furthermore, the offering enables coverage for residents who are out of options.
