Integrations moved forward with user-focused utility as the centerpiece of activities. New ways of improving products and solutions emerged, paving the way for expanded access to financial services.
Headlines to take note of:
- Citi and the Carlyle Group partnered want to improve private credit;
- Saphyre introduced an email only onboarding offering;
- SOLVE and Investortools enhanced the fixed income space with a new deployment;
- PayPal unveiled plans to enable support for the PYUSD stablecoin token on the Stellar network;
- Plus, Walmart wants to launch a new card! (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
Banking behemoth Citi teamed up with Carlyle to improve the private credit space. The collaboration involves the exchange of information, data, and market insights.
Additionally, the setup includes integrations with the Citi Spread Products Investment in Technologies (SPRINT) ecosystem, enabling dual investments.
Saphyre, Inc.
On the AI end, automation-focused Fintech Saphyre unveiled AI Agent for Onboarding, a feature that has email-based onboarding capacities. All it takes for a client to activate the fund registration process is a simple email, with continuous follow-ups provided by the tool.
The platform also has a review process and a human interface with final approvals.
Altruist Corp./yHLsoft, Inc. (Advyzon)/Orion Advisor Solutions, Inc.
Contemporary RIA custodian Altruist revealed enterprise-level FIX trading deployments with Orion and Advyzon. The setups allow for the near-instant submission and execution of orders.
Furthermore, the arrangement enables optimized workflows for multi-advisor Registered Investment Advisers (RIAs).
Solve Advisors Inc. (SOLVE)/Investortools, Inc.
On the fixed-income end, data and predictive pricing-focused SOLVE cooperated with Investortools. The collaboration integrates SOLVE Px™, SOLVE‘s automated pricing offering, with the Investortools Dealer Network and its portfolio management platform.
Clients can now retrieve and utilize predictive municipal bond prices instantly with direct workflow integrations.
24 Exchange
In a June 10 press release, boutique trading platform 24 Exchange revealed the alpha stage debut and the Q4 launch date of its 24X National Exchange. From September 29, clients will be able to trade US-based instruments on the 23/5 platform.
24X National Exchange is America’s first SEC-approved and globally-focused national securities exchange.
Crypto, Blockchain, and Digital Assets
In a June 11 post on its website, e-commerce giant PayPal revealed plans to launch its PYUSD stablecoin on the Stellar network. The move is subject to regulatory approval from the New York Department of Financial Services (NYDFS).
Moreover, the move will expand the PYUSD’s global reach, improving access.
Webull Financial LLC/Kalshi, Inc.
Boutique brokerage Webull announced the availability of hourly crypto contract trading thanks to a partnership with prediction markets specialist Kalshi. Traders can make predictions for the prices of Bitcoin and Ethereum.
The setup is also straightforward without the usual hangups such as margin calls or hidden fees.
Franklin Templeton
Asset management behemoth Franklin Templeton introduced intraday yields on its Franklin OnChain U.S. Government Money Fund (BENJI). The feature enables the tracking of investor holdings down to one second at any time of the day.
Additionally, the feature calculates the yields and pays them to investors regardless of holidays or off-trading days.
Fintech, Personal Finance, and Apps
Tipalti, Inc./Mindmatrix, Inc.
Thanks to a partnership between Mindmatrix and Tipalti, managing affiliate, reseller, and partner programs has just become easier. The cooperation integrates the Mindmatrix partner relationship (PRM) platform with Tipalti’s payment and compliance ecosystem.
In addition, the combination features several key benefits, including tax compliance and risk management capabilities, seamless payment options (including ACH and PayPal), automated transaction and commission tracking, and centralized incentive programs.
Walmart/OnePay/Mastercard/Synchrony
OnePay, the Fintech firm partly owned by all-American retail behemoth Walmart, partnered with boutique Fintech Synchrony to launch a new Mastercard-leveraged card offering. OnePay will be the sole issuer of OnePay cards at Walmart stores.
The new card regime will launch this fall with full access via the OnePay app. Transaction processing will occur through the Mastercard network.
Similarly, European Buy-Now-Pay-Later (BNPL) firm Klarna teamed up with Marqeta as its issuing partner. The move accelerates Klarna’s upcoming card launch in the United States.
Moreover, the new card is currently undergoing trials, with an expected launch at the end of the year.
Invoice Cloud, Inc.(InvoiceCloud)
Online billing and payment-focused ecosystem InvoiceCloud unveiled AI Report Generator, an offering that provides instant reporting capabilities to government, insurance, and utility segments. AI Report Generator enables the creation of custom documentation from natural language prompts.
Cutting-edge capabilities include intuitive insights, one-click functionality, and spreadsheet export capabilities.
Banking, Payments, and Infrastructure
A collaboration between Cross River Bank and Plaid introduced Cross River’s Request for Payment (RfP) solution and boosted inbound payments. RfP enables instant inbound payments from the Real-Time Payments (RTP)® network.
Plaid’s integration facilitates instant buying activities.
American financial giant PNC introduced PNC Mobile Accept, an embedded offering that enables small to medium-sized businesses (SMBs) to accept card payments. SMB customers can access PNC Mobile Accept from within the PNC Mobile app.
The premier bank designed the feature for businesses that process less than $300,000 in annual debit and credit card transactions.
U.S. Bancorp (U.S. Bank)/Fiserv
Still, on cards, U.S. Bank partnered with Fiserv to optimize card services for financial institutions (FIs). The tie-up integrates the U.S. Bank Elan Financial Services platform with Fiserv’s Credit Choice offering to enable efficient card management processes.
Furthermore, the setup enables financial institutions (FIs) to manage credit and debit card information from a single interface.
Triangle Credit Union/Jack Henry & Associates, Inc.
Nashua, New Hampshire-based Triangle Credit Union collaborated with Jack Henry as part of its digitization efforts. The collaboration migrates Triangle’s in-house banking system to Jack Henry’s cloud-based Symitar solution.
Additionally, the deployment includes Jack Henry’s LoanVantage offering, which enables improved loan operations.
REtech, Insurtech and Investing
IMT Services, LLC (SOVENTURE Insurance)
Globetrotters, digital nomads, and just about anyone interested in extensive travel now have improved options with new plans from InsureMyTrip’s business unit, SOVENTURE. They range from Nomad Insurance for world travelers and itinerants to Adventure Coverage, an offering that protects over 250 sporting activities.
Furthermore, the plans do not require in-country switch-overs. Other perks include emergency medical support and liability coverage.
Gradient Mortgage Capital, LLC
In a June 9 press release, boutique mortgage banking ecosystem Gradient announced its industry debut. The firm focuses on Small Balance Commercial Real Estate (SBCRE) credit lines and Debt Service Coverage Ratio (DSCR) loans (for 1-4 investment-focused residential units).
Additionally, the offerings are tailored to real estate entrepreneurs, providing flexibility and efficient closings.
Premier Non-Qualified Mortgage leader Logan introduced its Open Road product suite. Open Road comprises of seven offerings that help address several problems faced by players and borrowers.
Open Road is available via the Logan Finance correspondent and wholesale channels.
