Chaos settled into order as industry players continued to show themselves what other uses Fintech solutions can achieve. Then again, it’s Fintech.
Everything (sometimes) happens all at once!
Headlines to take note of:
- ICE is back with new indices;
- TNS and Bruce ATS expanded their relationship;
- CT Plan wants an independent administrator.
- BNY is now Ripple’s RLUSD custodian;
- One of America’s most extensive listing services just launched thanks to a unique three-way partnership (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
Intercontinental Exchange (ICE)
Boutique markets infrastructure provider ICE revealed the next iteration of the NYSE basket of indices. Additions include a tech-focused index and other instruments that enable investors to track the performance of listed firms.
Furthermore, the NYSE Elite Tech 100 Index is expected to take off before the end of July.
Transaction Network Services (TNS)/Bruce Markets LLC
Premier financial Fintech TNS announced its data connection to the Bruce ATS™ platform. The deployment optimizes TNS’s overnight trading capacities.
Moreover, the integration provides access to American equities during Asian trading hours.
Consolidated Tape Plan (CT Plan)
According to a July 7 press release, the Consolidated Tape Plan (CT Plan) announced it will publish a Request for Proposal (RFP) for an independent administrator in Q3 2025. The move follows the SEC’s directive to unify U.S. equity data dissemination under a single national market system.
The administrator will oversee operations ahead of the CT Plan’s Q2 2027 rollout.
Bloomberg/Clearwater Analytics
Financial information behemoth Bloomberg and Clearwater Analytics teamed up to deliver a unified front-to-back investment management solution. The collaboration merges Bloomberg’s enterprise workflows with Clearwater’s accounting platform, offering asset managers and owners a modular system that reduces operational friction.
Consequently, the offering includes managed integration, OTC management, and synchronized cash and trade data.
Crypto, Blockchain, and Digital Assets
Bank of New York Mellon (BNY)/Ripple Labs
XRP token issuer Ripple Labs tapped BNY as the primary custodian for reserves backing its enterprise-grade stablecoin, Ripple USD (RLUSD). The partnership brings together Ripple’s digital asset infrastructure and BNY’s institutional custody muscle to support RLUSD’s operations, including conversions and reserve management.
In addition, the collaboration will improve use cases and adoption of the RLUSD stablecoin.
Leading digital asset exchange Coinbase partnered with Perplexity AI to integrate real-time crypto market data into the AI-powered search engine. The rollout begins with COIN50 index prices powering market analysis in Perplexity’s new Comet browser, with deeper conversational integration to follow.
Moreover, the collaboration sets the stage for AI-driven trading tools, including portfolio rebalancing and staking management.
Department of the Treasury/IRS
On July 10, the Treasury Department and IRS announced the repeal of a controversial crypto broker tax rule that would have required non-custodial service providers to report customer transaction data. The rule, introduced in late 2024, faced heavy backlash from DeFi advocates and lawmakers who argued it was technically unworkable and a threat to privacy.
Furthermore, the action follows a successful Congressional Review Act resolution signed by President Trump in April.
Fintech, Personal Finance, and Apps
Compliance-focused Fintech Sovos and workflow specialist Tungsten Automation teamed up to launch a (compliant) accounts payable (AP) product. The offering merges tax compliance with intelligent invoice automation.
In addition, the platform uses AI-powered Optical Character Recognition (OCR) to capture invoice data and also integrates with ERP systems.
Tax compliance automation firm Avalara introduced Avi, a generative AI assistant embedded into its Tax Research platform. Avi supports rooftop-level rate calculations, audit defense, and plain-language queries.
Subsequently, the assistant is available to existing users, and free trials are available to new customers.
The Red Spectrum
SMB-focused Fintech Red Spectrum boosted business credit with its new Net 30 Account Solution. The offering enables SMB credit via net 30 vendor accounts, excluding terms and conditions.
Additionally, the product also has credit bureau reporting integrations, enabling optimized access to goods and services.
Diameter Pay/Flagright
API-focused Diameter Pay joined forces with boutique Fintech Flagright to enhance its transaction monitoring and AML compliance framework. The partnership equips Diameter Pay with real-time visibility, automated risk scoring, and AI-powered forensics to track high-risk activity across its embedded payments APIs.
Moreover, banks and other financial institutions can track, investigate, and report transaction-related issues on the go.
Banking, Payments, and Infrastructure
Vantage West Credit Union (HUSTL Financial)
Digital-focused HUSTL rolled out a high-yield Money Market Account offering a 5.00% APY. The account features zero minimum balance requirements, no monthly fees, and unlimited transactions.
Furthermore, the offering targets freelancers and gig workers tired of traditional banking constraints. It has National Credit Union Administration (NCUA) insurance with a rate that is six times the national average. The account also features digital tools for tax savings and expense tracking.
Financial giant PNC Bank unveiled a new digital direct deposit manager embedded in its mobile app. The feature allows users to set up payroll, Social Security, and recurring income deposits without paperwork or manual entry.
Built for simplicity and speed, the tool streamlines onboarding and reduces setup errors.
Fin Technologies, Inc. (MANTL)/Plaid
Niche deposit solutions provider MANTL became the first Fintech to resell Plaid Layer, a rapid onboarding tool previously exclusive to neobanks. The integration allows regional and community banks to onboard users in under a minute using phone-based identity verification and account linking.
Furthermore, the embedded workflow (reportedly) boosts conversion rates by up to 25% and slashes signup time by 87%.
First Mid Bank & Trust/Jack Henry
Mattoon, Illinois-based First Mid Bank & Trust announced the selection of boutique banking software provider Jack Henry to overhaul its core banking infrastructure. The upgrade replaces manual workflows with real-time data access and seamless customer information management.
Moreover, First Mid has access to 950 Fintech APIs, enabling tailored service delivery across retail and commercial lines.
REtech, Insurtech, and Investing
On the real estate end, Stellar MLS joined forces with California Regional MLS (CRMLS) and Bright MLS to launch a reciprocal access agreement spanning 10 states and territories. The collaboration links the nation’s three largest MLS platforms, giving agents seamless listing visibility from Florida to California and the Mid-Atlantic.
All three platforms run on Matrix, enabling real-time data sharing without extra logins or fees, connecting over 280,000 professionals.
Truv/Freddie Mac
Truv expanded its integration with Freddie Mac’s Loan Product Advisor (LPA), becoming an AIM service provider for automated asset verification. The platform now enables lenders to assess borrower assets, income, and employment using financial account data.
Furthermore, the ecosystem enables streamlining and cost-cutting measures for origination and documentation.
Indico Data/Data Enrichment Agents
Niche Insurtech Indico Data expanded its Agentic Decisioning Platform with embedded Data Enrichment Agents that integrate proprietary and third-party datasets (directly) into insurance workflows. The upgrade enables underwriters and claims teams to auto-fill missing data, access location intelligence, and enrich documents in real time.
The agents support dynamic enrichment across underwriting, FNOL, and policy servicing.
