The industry resumed its frenetic pace of activity. Cybersecurity threats continued to loom, with automated solutions taking the lead.
Headlines to take note of:
- MarkeAxess boosted the credit markets with a new offering.
- CME improved the FX segment via collaborations with TT and Integral;
- The SEC launched an AI task force;
- The CFTC wants to enable spot trading on futures exchanges ;
- Wells Fargo improved its cooperation with Google Cloud to enable agentic AI in its operations (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
MarketAxess Holdings, Inc.
Boutique trading ecosystem MarketAxess launched its Mid-X offering for the U.S. credit market. The move expands its anonymous mid-point matching protocol to dealers trading corporate bonds.
Mid-X aims to enhance liquidity and execution efficiency in the American credit market. CP+, MarketAxess’s AI-driven predictive pricing engine, powers the platform.
CME Group/Integral Development Corp./Trading Technologies (TT)
CME Group expanded access to its foreign exchange liquidity pool via partnerships with key vendors. Through new collaborations with Trading Technologies (TT) and Integral, clients can now tap into primary market FX liquidity from both EBS Market and CME’s new FX Spot+ venue.
Additionally, the partnerships aim to streamline trade execution for market participants.
America’s top regulator launched an AI Task Force. Led by the new Chief AI Officer, Valerie Szczepanik, the initiative aims to centralize efforts and foster cross-disciplinary collaboration within SEC divisions.
Furthermore, the task force will focus on deploying AI tools that enhance operational efficiency, improve market oversight, and support investor protection.
Heron Finance added the Antares Private Credit Fund (ABDC) to its investment platform. The integration expands access to institutional-quality private credit for accredited investors and RIAs.
Moreover, the move aims to help clients generate income through diversified exposure to seasoned private credit managers.
Crypto, Blockchain, and Digital Assets
Chainlink Labs
Data-oracle-focused crypto network Chainlink Labs launched Chainlink Data Streams for U.S. equities and ETFs. The offering delivers real-time, high-throughput market data directly on-chain.
Consequently, the service supports several assets, including SPY, QQQ, NVDA, AAPL, and MSFT, across 37 blockchain networks.
Commodity Futures Trading Commission (CFTC)
The CFTC launched a new initiative to allow spot crypto asset trading on registered futures exchanges, Bloomberg reported on August 4. The effort is part of the broader “Crypto Sprint” program.
Subsequently, the CFTC is requesting public input on how spot crypto contracts could be listed under its current regulatory framework. The process has an August 18 public comment deadline.
Figure Technology Solutions Inc.
Similarly, an August 4 Bloomberg report revealed Figure’s confidential IPO plans. The firm hasn’t yet disclosed the number of shares and price range for the IPO.
Several investors include Apollo Global Management, 10T Holdings, and Ribbit Capital.
Fintech, Personal Finance, and Apps
FedEx/J.P. Morgan Payments/Oracle
To enhance liquidity and streamline working capital access, FedEx teamed up with J.P. Morgan Payments and Oracle. The three-way setup integrates FedEx’s ecosystem with J.P. Morgan’s Supply Chain Finance (SCF) and the Oracle Cloud ERP.
Additionally, the integration provides early payment options to vendors based on their credit profiles.
Fetch/American Express/First Electronic Bank/Imprint Payments, Inc.
All-American rewards app Fetch announced the launch of the Fetch American Express® Card. Boutique Fintech Imprint powers the offering, which First Electronic Bank issues.
Moreover, the card runs on the American Express network and has several perks, including Amex Offers and Experiences. The product has a Fall launch deadline.
Visa, Inc.
To help clients proactively defend against emerging cyber threats, Visa launched its Cybersecurity Advisory Practice. The new practice leverages Visa Consulting & Analytics to provide tailored threat detection, cybersecurity maturity assessments, and training through its Payment Cybersecurity Institute.
Visa also plans to introduce additional services, including threat intelligence and vulnerability assessments.
SS&C Technologies Holdings, Inc.
Niche Fintech SS&C launched Invoice Data Agent, an AI-powered tool that automates invoice processing using large language models (LLMs) and natural language processing (NLP). The agent extracts, validates, and formats invoice data for seamless integration into ERP systems.
Moreover, the solution handles multiple formats, identifies clients, splits complex invoices, and ensures audit-ready accuracy.
Banking, Payments, and Infrastructure
Wells Fargo/Google Cloud
To deploy agentic AI tools across enterprise operations, banking giant Wells Fargo expanded its partnership with Google Cloud. The deployment utilizes Google’s Agentspace and NotebookLM platforms to roll out AI agents.
In addition, the setup automates workflows, enhances decision-making, and improves customer service processes.
Credit Sesame, Inc./Green Dot
To enhance its digital banking platform, Sesame Cash, Credit Sesame cooperated with Green Dot. Green Dot’s Arc users can access FDIC-insured demand deposit accounts (DDAs).
The cooperation also accelerates the rollout of features like Sesame Credit Builder, which helps users improve their credit scores via everyday debit card purchases.
Family Financial Credit Union/Algebrik AI, Inc.
Bay City, Michigan-based Family Financial Credit Union teamed up with Algebrik AI to upgrade its digital lending capabilities. The setup integrates the CU’s ecosystem with Algebrik One, a cloud-native platform powered by agentic AI.
Furthermore, the deployment streamlines loan origination, digital account opening, multi-channel point-of-sale, and portfolio analytics.
Ohio and Kentucky-based community bank HSLC partnered with niche fintech Vine to implement its AI-powered lending platform. The move accelerates commercial loan processing from days to hours.
Additionally, the setup automates manual tasks, including document generation and data extraction.
REtech, Insurtech, and Investing
INTX Insurance Software, Inc./One, Inc.
Payment-focused One Inc. collaborated with niche Insurtech INTX to modernize digital insurance workflows. The collaboration combines One’s PremiumPay® and ClaimsPay® platforms with INTX’s end-to-end property and casualty insurance management system.
Furthermore, the setup enables carriers to eliminate paper checks, digitize payouts, and streamline policy and claims processes.
Gateless, Inc./Developer’s Mortgage Company
AI-focused underwriting solutions firm Gatless revealed that leading mortgage lender Developer’s Mortgage adopted its Smart Underwrite offering. The integration fully automates the Developer’s Mortgage underwriting process.
Consequently, the setup gives home buyers straight-through access to loan approvals.
Similarly, premier mortgage tech firm Lender Toolkit unveiled its Mortgage Efficiency Cooperative offering. The product has several innovative features, including Prism, a data automation platform, PowerTools™, a feature that enhances loan origination solutions (LOS), and Disclosure Automation, which generates disclosures on the fly.
Moreover, the product offers a comprehensive, all-in-one approach for lenders, boosting productivity.
