The end of June brought industry stability, with regulators pushing for clarity and rail guards for product launches. Industry utility also improved thanks to new combinations and deployments.
Headlines to take note of:
- Goldman Sachs launched a company-wide AI assistant;
- Bloomberg launched a country-focused geopolitical risk-scoring solution;
- Fidelity Investments enhanced the alternative markets with flexible model portfolios ;
- PayPal revealed payment options with Taco Bell;
- Additionally, the Federal Housing Finance Agency aims to include cryptocurrency in mortgages (read on to find out);
- And much more!
Of course, this is your week in digital wealth!
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Wealthtech, Regtech, Regulatory, and Treasury
Goldman Sachs
A June 23 Reuters report revealed the deployment of an AI assistant throughout the Goldman Sachs ecosystem. The global financial behemoth launched the offering via a memo.
Additionally, the document by Chief Information Officer Marco Argenti revealed usage topping 10,000 employees. The GS AI Assistant performs a wide range of tasks, including document summaries, data analysis, and more.
On June 25, Bloomberg unveiled country-focused country risk scores. Boutique risk intelligence ecosystem Seerist’s platform powers the offering.
Specifically, users can access the tool via the Bloomberg Terminal (Data License).
Fidelity Investments
Investment specialist Fidelity unveiled alternative investment-focused tailored model portfolios. Eligible investment firms can access private market exposure via the models.
Fidelity Custom Model Portfolios is available via its wealth management ecosystem.
Forge Global Holdings, Inc.
On June 26, premier private markets specialist Forge announced its marketplace, the latest iteration of its API-focused ecosystem. The offering enables improved marketplace trade discovery, giving access to enhanced automated trading activities.
Moreover, the Forge next-generation marketplace has several intuitive features, including an up-to-date order book, combined trade and insights, round-the-clock trading, and seamless discovery.
Crypto, Blockchain, and Digital Assets
Leading crypto exchange, Kraken further expanded its money movement efforts with the launch of Krak. Krak enables seamless money transfers with combinations of fiat and digital assets.
The product also offers users 300 fiat and digital assets under one umbrella, alongside Kraktags, a peer-to-peer offering with a unique identifier that is devoid of wallet address or banking details revelation requirements.
Federal Housing Finance Agency (FHFA)/Freddie Mac/Fannie Mae
A June 25 order by FHFA Director William J. Pulte revealed a directive to Freddie Mac and Fannie Mae to present plans to include digital assets in Mortgage options.
Pulte also indicated that American-based centralized cryptocurrency exchanges are eligible under the proposed framework.
A partnership between Chainlink and Mastercard unveiled improved fiat-to-crypto payments. Chainlink’s unique interoperable ecosystem powers the framework.
Multi-tier integrations are also possible in the ecosystem. They include liquidity provisions, interoperability provisions by Zerohash and Shift4 Payments, and DeFi-focused activities via XSwap (by Uniswap) and premier decentralized exchange Swapper Finance.
Fintech, Personal Finance, and Apps
PayPal/Taco Bell
Leading restaurant chain Taco Bell teamed up with PayPal to enable improved payment options. The tie-up allows seamless payments via Venmo or PayPal through Taco Bell’s online channels.
Additionally, the integration includes a select cashback offer, which boosts engagement.
Balance Payments, Inc./Alibaba
Alibaba’s American business got a boost thanks to a partnership with B2B commerce leader Balance. SMBs can access Pay Later for Business (by Balance), which enables installment order payments at checkout.
Balance’s AI-focused risk platform powers the deployment with instant SMB-focused credit.
On June 26, Experian announced a collaboration with Mastercard. The partnership integrates Mastercard’s ID verification technology with the Experian Ascend Platform, enabling enhanced fraud detection and mitigation capabilities.
Furthermore, the partnership enables enhanced global compliance across several industries.
In a June 24 post on its website, boutique payments ecosystem Spreedly unveiled a partnership with Visa. The tie-up enables instant card information exchange via its integration with the Visa Account Updater (VAU) offering.
Moreover, merchants can now enable seamless transaction experiences for customers.
Banking, Payments, and Infrastructure
Fidelity National Information Services, Inc. (FIS)/Visa
Regional banks and CFIs now have options, thanks to the enhancement of collaboration between FIS and Visa. FIs now have access to enhanced payment options, including customer payment cancellation requests, wallet-card integrations, online fraud prevention capabilities, and a digital campaign manager.
Consequently, smaller FIs can enhance their services through this setup.
Eltropy, Inc.
Still, on CFIs, Eltropy introduced its Collections 2.0 Suite, an AI-focused debt recovery solution. The offering enables improved recovery rates for delinquent and past-due accounts, featuring intuitive features such as personalized messaging, insights-based outreach, electronic messaging channels, embedded instant payment options, and programmed reminders.
Furthermore, the Collections 2.0 Suite also features seamless integrations with leading banking software providers, including Corelation, Fiserv, Symitar, and MeridianLink.
Prelim Technologies, Inc./Lead Bank
Kansas City, Missouri-based Lead Bank teamed up with niche Fintech Prelim to improve retail and digital experiences. The partnership integrates Prelim’s onboarding capacities with Lead’s ecosystem.
Furthermore, the setup also has issue-resolution capabilities via enhanced self-service features.
Coastal Credit Union/Lumin Digital
Raleigh, North Carolina-based Coastal Credit Union unveiled plans to digitize its ecosystem with Lumin Digital. The setup collaboration includes the deployment of Lumin’s cloud-based account opening and onboarding, risk management, and retail and business banking features.
Subsequently, the deployment has a Q4 2025 go-live target.
REtech, Insurtech and Investing
Rocket Mortgage, LLC
On June 24, digital-focused REtech Rocket announced a bridge loan solution that enhances homeowner purchase options. The offering enables the purchase of homes before owners sell their current residences.
Subsequently, customers have a six-month deadline for home sales alongside interest-only payments and other listing options.
HouseSavings.com
Mechanicsburg, Pennsylvania-based HouseSavings.com announced the launch of a flat-fee commission digital platform. The ecosystem has a comprehensive commission beginning at $999.
Furthermore, the portal also offers other tiers, including an assisted service option (worth $1,499) and a virtual-based, all-inclusive solution with a 1% commission (at closing).
California Regional Multiple Listing Service (CRMLS)/Earnnest
Real estate escrow transactions in the Golden State are now possible thanks to a collaboration between CRMLS and transaction-focused Earnnest. The tie-up enables fraud-free initial escrow deposits.
CRMLS users can access the Earnnest platform at zero cost.
NIC Premium Finance/ePayPolicy
Industry-focused Insurtech ePayPolicy partnered with NIC Premium Finance to enable Buy-Now-Pay-Later insurance premium payment options. The collaboration improves conversion rates and customer experiences.
Additionally, ePayPolicy’s Finance Connect features include cutting-edge capabilities, such as premium finance agreement (PFA) generation, seamless upfront options, digital quote transmission, and more.
