The steady hum of innovation continued resounding throughout the industry. Integrations ruled the week, signaling an acceptance of the new normal.
Headlines to take note of:
- Nasdaq and AWS unveiled a blueprint detailing collaboration expansion plans;
- The CFTC opened the public comment window for perpetual futures and round-the-clock trading;
- Circle launched an FI-focused stablecoin connectivity network;
- Fiserv and the State of Kansas want to launch a Fintech hub;
- Plus, Navy Federal and Bloom Credit expanded consumer permissioned data (CPD) options for members (read on to find out);
- And much more!
Of course, it’s your week in digital wealth!
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Wealthtech, Regtech, Regulatory, and Treasury
Nasdaq Stock Market LLC/Amazon Web Services (AWS)
To improve industry infrastructure, Nasdaq and AWS revealed a blueprint to expand their current relationship. The blueprint includes improved exchange-market platform combinations, service-focused models, and deployments leveraging the Nasdaq Eclipse solution.
Additionally, the planned integration will improve global connectivity between investors and platforms.
OTC Markets Group, Inc./Clear Street LLC
Boutique trading platform Clear Street teamed up with OTC Markets Group to enable round-the-clock, 24/6 trading capabilities. The cooperation integrates Clear Street’s ecosystem with OTC Markets’ MOON ATS (Alternative Trading System).
Furthermore, Clear Street’s clients have several access points to trade effectively.
Commodity Futures Trading Commission (CFTC)
Similarly, on April 25, the CFTC opened the public comment window on 247 trading in derivatives markets and perpetual futures. The regulator intends to use the gleaned feedback to improve its oversight activities.
Moreover, the open period has a May 21 deadline.
Intercontinental Exchange, Inc. (ICE)/Forge Global Holdings, Inc.
ICE and Forge Global collaborated to improve pricing mechanisms for the private equity segment. The partnership includes the distribution of the Forge Price™ offering alongside ICE’s data solutions.
In addition, the setup improves price discovery, enabling optimized private company share trading transactions.
Crypto, Blockchain, and Digital Assets
Circle Internet Group, Inc.
Stablecoin issuer Circle unveiled the ‘Circle Payments Network (CPN),’ an ecosystem that connects banks, Fintechs, and FIs. The setup also has real-time settlement capabilities.
Moreover, transactions are possible via the USDC, EURC, and other regulated stablecoin tokens.
Still, on stablecoins, PayPal and Coinbase revealed another dimension to their collaboration. PYUSD transactions are currently zero-cost.
Additionally, crypto-to-fiat redemptions of the PYUSD will occur on a 1:1 basis.
Chicago Mercantile Exchange Inc. (CME Group)
In an April 24 announcement, CME revealed its XRP futures launch plans. Pending regulatory approvals, trading of the instruments will start on May 19.
Moreover, traders will have large-sized contracts (50,000 XRP) and micro-sized portions (2,500 XRP).
Fintech, Personal Finance, and Apps
Fiserv, Inc./The Kansas Office of the Governor
Premier Fintech Fiserv took things to another level with plans to open a hub in the Overland Park, Kansas City, area in partnership with the Governor’s office. The move has the potential to bring 2,000 jobs to the State.
Consequently, clients in America’s Midwest will have closer access to innovation.
AuditBoard, Inc.
On the compliance end, AuditBoard unveiled ‘RegComply,’ an industry-leading compliance management offering. egComply automates adjustments to the ever-changing regulatory and compliance landscapes, enabling flexibility.
In addition, the solution has AI-powered mapping functionalities, enabling on-the-go refinements.
PSQ Holdings, Inc. (PublicSquare, PSQ Payments)/Shopify
All-American online marketplace PublicSquare revealed the integration of its end-to-end ecosystem, PSQ Payments, with the Shopify App Store.
The PSQ Payments app has intuitive features, including an efficient Shopify checkout experience, an extensive dashboard, fraud protection, and frictionless refund processing.
On the Accounts Payable end, automation-focused Fintech Mekorma introduced the first iteration of its Payment Hub, a start-to-finish Microsoft Dynamics 365 Business Central-integrated product. Payment Hub has several transformative features, including an action board, automated vendor validation, remote payments, and optimized check printing.
Furthermore, the offering is available on the Microsoft AppSource marketplace.
Banking, Payments, and Infrastructure
Finzly, Inc./ Amazon Web Services (AWS)
In response to the recent banking platform outages, Finzly revealed that it completed its stress test in partnership with AWS. Finzly’s BankOS solution can successfully handle the daily transaction loads of America’s Big Four banks.
Moreover, the payment rails on BankOS offer FIs seamless abilities.
Alacriti, Inc.
ACH-focused Alacriti revealed several enhancements to its Orbipay Payments Hub solution. They include direct Fed integrations, Same Day ACH, and corporate and personal payments.
Furthermore, Orbipay Payments Hub has a single-umbrella payments ecosystem that includes the FedNow Service, Visa Direct, and the RTP® network.
Underdog Technologies, Inc. (Pinwheel)/Q2 Holdings, Inc.
Account-focused Pinwheel unveiled its cooperation with Q2. The collaboration integrates Pinwheel’s ecosystem with Q2’s Digital Banking Platform via the Q2 Partner Accelerator Program.
Consequently, Q2’s customers can access 1-click deposit switching functionality.
Navy Federal Credit Union (FCU)/Bloom Credit Inc.
To improve consumer permissioned data (CPD) services in its ecosystem, Navy Federal FCU collaborated with data-focused Bloom Credit. The partnership integrates Bloom Credit’s Bloom+ for all member checking accounts.
In addition, the move enables smooth reporting of everyday transactions for improved credit building.
REtech, Insurtech and Investing
Sagent Auto, LLC/Consolidated Analytics, Inc. (CA)
In an April 23 announcement, mortgage-focused Fintech Sagent announced the extension of its cooperation with Consolidated Analytics. A’s Loss Analysis integrates with Sagent’s Dara Claims.
Furthermore, the setup has AI-focused compliance-sustaining features that keep up with industry regulatory efforts.
DYRD, LLC (HECM Tool)/Smartfi Home Loans LLC
Reverse mortgages got boosted thanks to cooperation between HECM Tool and Smartfi. The collaboration integrates Smartfi Home Loans’ Choice Fixed proprietary reverse mortgage solution with the HECM Tool ecosystem.
Consequently, industry players can seamlessly offer reverse mortgages to clients.
Finaya, Inc.
Finaya introduced its Agentic AI solution for the home ownership sector. The automated offering covers several segment aspects, including titles, mortgages, insurance, and repairs.
Additionally, the product offers unique, prompt-focused responses that cater to specific customer needs.
