Innovation bucked the trend, paving the way for utility-focused solutions. The Federal Government continued pulling back, giving Fintechs room for enhanced creativity.
Headlines to take note of:
- Morgan Stanley’s loan ecosystem now has integrations with Versana;
- Apex Fintech Solutions has Google Cloud deployments;
- Intuit launched automated tax forms;
- Workers can get paid earlier thanks to Payactiv;
- Plus, the BIS introduced an AI-based regulatory platform (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
Morgan Stanley/Versana, LLC
Private loan-focused Versana revealed the availability of Morgan Stanley’s broadly syndicated loan (BSL) deals within its ecosystem. Morgan Stanley’s institutional clients can access the deals via Versana’s centralized data platform.
Additionally, the setup enables increased transparency for the buy-side segment.
Apex Fintech Solutions Inc./Google Cloud
Boutique investment Fintech Apex expanded its footprint via a collaboration with Google Cloud. The partnership deploys the Apex Ascend within the Google Cloud environment.
Consequently, Apex utilizes several of Google Cloud’s data—and AI-focused tools, including Looker and Looker Studio, Vertex AI, AlloyDB, and BigQuery, to enable efficiency.
Financial infrastructure behemoth Bloomberg introduced Strategy Optimizer, a solution that optimizes ETF trading processes. Users can access the product via Bloomberg’s RFQe.
Moreover, the offering enables single-click management for ETF lists.
Arete Wealth Management, LLC/Envestnet, Inc.
Premier wealth management firm Arete Wealth teamed up with Envestnet to improve client advisory services. The partnership deploys Envestnet’s tech infrastructure to Arete Wealth’s ecosystem.
Furthermore, the long-term tie-up enables improved access to financial services.
Crypto, Blockchain, and Digital Assets
Cboe Global Markets, Inc./FTSE Russell
In an April 7 announcement, Cboe revealed intentions to launch the Cboe FTSE Bitcoin Index. The offering will base its value on the FTSE Bitcoin Reduced Value (1/10th) (XBTF) Index.
Additionally, following regulatory approvals, trading will begin on April 28 on the Cboe Futures Exchange, LLC (CFE).
Broadridge Financial Solutions, Inc.
Boutique Fintech Broadridge introduced ‘Broadridge Digital Assets Solutions’, an institutional-focused offering. The solution provides institutions with plug-in access to the crypto ecosystems, enabling easier scaling.
Moreover, the product also offers real-time compliance capabilities, giving institutions the leading edge.
Department of Justice (DoJ)
In an April 7, four-page notice, the DoJ revealed the sunset of the National Cryptocurrency Enforcement Unit (NCET). The move reversed the previous administration’s establishment of NCET in 2021.
Consequently, the memo from Deputy AG Todd Blanche revealed the Federal Government’s focus on using digital assets for narcotics, terrorism, hacking, organized crime, hacking, and related criminal activities.
Fintech, Personal Finance, and Apps
On the tax end, all-American Fintech Intuit revealed an integration with Google Cloud that automates several filing processes. Google Cloud’s AI-powered auto-fill features are now available for ten regular tax forms, including the 1040 and 1099 documents.
In addition, auto-fill capabilities vary across several industries and range from the simple to the complex.
Forter, Inc.
Similarly, niche Fintech Forter announced the beta launch of its Predictive Payment Routing offering and GenAI agent detection capabilities. Predictive Payment Routing allows for faster payment processes.
Additionally, Forter’s GenAI detection feature enables SMBs to detect the use and purposes of AI bots in shopping ecosystems.
Thanks to DebtBook, manual contracts, and documents are history. In an April 10 press release, DebtBook revealed the launch of its AI Contract Processing for subscription and lease segments.
Furthermore, the solution allows users to upload contracts and enables automated suggestions.
With the introduction of ‘Visa+’ (by Payactiv), workers can access their wages faster. The product enables PayPal and Venmo payment alternatives without disclosing personal financial information.
Moreover, Visa+ enables users to create aliases before fund transfers to their preferred digital wallets.
Banking, Payments, and Infrastructure
Bank for International Settlements (BIS)
The world’s central bank expanded its regulatory and oversight capabilities with the launch of Project AISE (Artificial Intelligence Supervisory Enhancer). Project AISE provides FI regulators and officers with an AI-driven framework, enabling vertical integrations.
Consequently, the BIS Innovation Hub’s Toronto Innovation Center steers the development of the ecosystem.
Lumin Digital/Advanced Fraud Solutions (AFS)
Thanks to a partnership between Lumin Digital and AFS, SMBs have improved fraud protection options. The setup integrates Positive Pay by AFS with Lumin Digital’s ecosystem.
Furthermore, the deployment provides AI-powered fraud detection and mitigation enhancements, including check and ACH fraudulent transaction tracing and verification tools.
Q2 Holdings, Inc./Signature Bancorporation, Inc. (Signature Bank)
Chicago, Illinois-based Signature Bank revealed the deployment of Q2’s Digital Banking Platform as part of digital expansion activities. The integration includes deploying the Q2 Innovation Studio, allowing for Fintech deployments.
Subsequently, the setup includes fraud-fighting features and improves customer interaction capacities.
Frankenmuth Credit Union/Pocketnest, Inc.
Michigan-based Frankenmuth Credit Union teamed up with Pocknest to enable improved, personalized financial health capabilities for its members. The collaboration allows for better decisions.
Furthermore, members can access AI-powered, flexible financial planning and counseling features.
REtech, Insurtech and Investing
Coalition, Inc.
America has a new cyber insurance offering from niche Insurtech Coalition. The Coalition Active Cyber Policy covers data and tech-related risks.
Furthermore, the solution has several innovative features. They include Reduced Retention for Early Funds Transfer Fraud (FTF) Reporting, which offers benefits for prompt notification of fraudulent financial transfers, and Vanishing Retention, a rewards feature for claims-free periods.
Agribusiness Risk Underwriters (ARU)/Cogitate Inc.
Thanks to a partnership between ARU and Cogitate, country residents can access a rural-focused insurance solution for Rural Estates, Farms, and ranches. The offering is available on the Cogitate DigitalEdge Insurance Platform.
Additionally, the product is available across the continental US.
CLARA Analytics, Inc./Guidewire Software, Inc.
Industry players can now reduce their insurance claim expenses thanks to a collaboration between Guidewire and CLARA Analytics. The cooperation integrates CLARA’s automated insights with the Guidewire claims ecosystem.
Subsequently, insurers can access on-the-go data and intelligence, allowing for flexible and precise decisions.
