Slight friction between regulators and industry players signaled (forthcoming) interesting interactions between both parties. Everything continued humming as usual, but a user-centric approach to innovation was obvious.
Headlines to take note of:
- BlackRock and MarketAxess expanded their partnership;
- Cboe’s new futures product will trade next week;
- Broadridge hit it big with a new communications platform;
- There’s a stablecoin on the Bitcoin blockchain;
- PayPal was everywhere, doing everything;
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
MarketAxess Holdings/BlackRock
Fixed income-focused MarketAxess revealed an addition to its (current) collaboration with BlackRock. Critical aspects of the MarketAxess ecosystem, including data, pricing, and trading protocols, are now available within the “Aladdin® order execution management system (OEMS).”
Furthermore, “Adaptive Auto-X,” the MarketAxess novel automation solution, is also available as part of the integration.
Cboe Global Markets
To provide an improved hedge against market volatility, Cboe revealed the launch date of its “Cboe S&P 500 Variance Futures” offering. The market exchange operator indicated that the new product will begin trading next week on September 23.
Consequently, Cboe designed the tool to leverage empirical and inferred volatility spreads.
Broadridge Financial Solutions, Inc.
Banks, broker-dealers, and other industry players have improved, and seamless communications have come with a new solution from Broadridge. The niche software firm introduced “CommCentral,” an offering that provides clarity and transparency for firms and investors.
Additionally, the cloud-based platform is AI-powered and offers immediate access to live data.
Crypto, Blockchain, and Digital Assets
Bitcoin Lightning Network/Tether/Speed/Lightning Labs
Following Bitcoin Lightning network-focused developer Speed’s announcement of USDT availability within the Bitcoin ecosystem (last month), the new token, the USDT-L is now live. The move follows a taproot assets upgrade by Lightning Labs.
As part of (improved) tokenization efforts and institutional digital adoption, blockchain infrastructure firm Paxos revealed its partnership with Ethereum Layer-2 network Arbitrum. Consequently, the collaboration Paxos has targeted Arbitrum’s scaling and transaction capabilities on Ethereum.
PayPal/Venmo/Ethereum Name Service (ENS)
PayPal continued its foray into the crypto industry by announcing support for the Ethereum Name Service (ENS). The capability is available to American residents (for now).
Fintech, Personal Finance, and Apps
Niche registration-focused software firm Jumbula teamed up with PayPal to deploy frictionless payment experiences for its customers. The deployment includes PayPal’s card offerings alongside Venmo integrations.
Furthermore, Jumbula’s customers can (also) now have a smooth checkout experience with insights and analytics to boot.
In related news, Shopify and PayPal announced their (ongoing) partnership extension. PayPal’s card gateway is now (fully) functional within the Shopify ecosystem.
Invoice reconciliation is (now) a breeze for small business owners with a collaboration between New York-based Melio and Amazon Business. The cooperation integrates Melio’s platform with the “Amazon Business Reconciliation API.”
Moreover, Melio’s customers can make a one-time payment for all their invoices in several clicks.
DocuPhase/Center (Comdata, Inc)
Financial automation-focused DocuPhase partnered with Center (by Comdata) to fulfill customers’ dual Accounts Payable (AP) and expense needs. The move improves business decisions.
Additionally, the combination integrates both platforms seamlessly.
Galileo Financial Technologies
Boutique Fintech Galileo unveiled two solutions to mitigate risk exposure and aid the fight against fraud. “Galileo Instant Verification Engine (GIVE)” enables the verification of bank accounts before payments, while “Transaction Risk GScore” provides scoring for card transactions.
Additionally, the solutions are (entirely) integrated with Galileo’s ecosystem.
Tax automation Fintech Avalara revealed the integrations of two solutions with the Oracle Fusion Cloud Enterprise (ERP) ecosystem. Customers can access the “Oracle Avalara North America Tax Returns Cloud Service” and the ” Oracle Avalara Global Indirect Tax Cloud Service.”
Banking, Payments, and Infrastructure
J.P. Morgan Payments/Oracle
In a September 11 press release, J.P. Morgan Payments revealed several products that are (fully) integrated with Oracle’s platform. The move improves transactions and treasury services for corporate clients.
Furthermore, the deployments include cash balance availability, payment functionality, updated expense reports, and supply chain finance options.
They are available on the Oracle Fusion Cloud (ERP) platform.
Affinity Plus FCU/Lumin Digital
St. Paul, Minnesota-based Affinity Plus FCU entered a long-term contract with Lumin Digital to upgrade its digital and mobile banking services. New features offered by Affinity include target savings, cost insights, fraud detection, and risk mitigation.
Rain Technology
Consumer privacy got a boost with the launch of “ATM Switchable Privacy™” (by Rain Technology). The innovation prevents prying eyes from looking at private details during transactions.
Additionally, the privacy feature has hardware and software activation triggers.
Koxa Corp.
To improve FI data access and compliance with compliance regulations, API-focused Koxa launched “Open Banking Gateway.” Besides regulatory needs, Open Banking Gateway (also) gives Fintech apps access to relevant security-focused data.
REtech, Insurtech and Investing
CIC Credit
Getting a mortgage is (now) easier with ScoreNavigator (by CIC Credit). ScoreNavigator has several features, including zero subscriptions, interactive action plans, credit status monitoring, and more.
Furthermore, ScoreNavigator is (entirely) integrated with CIC’s “Meridianlink” platform.
The industry’s lead generation and customer onboarding got a boost with the launch of “Switchboard Funnel” (by Quility). The product is a complete sales ecosystem with several features, including dynamic forms, conversation flow, and relevant recommendations.
Heritage Insurance/Akur8
Tampa, Florida-based Heritage Insurance revealed its selection of boutique Insurtech Akur8 for its AI-driven pricing capabilities. Besides pricing, the cooperation aims to generate accurate predictive models for Heritage.
Consequently, Akur8’s platform (also) enables adherence to the required regulatory requirements.
Workplace benefits are (now) seamless with AI-focused Customer Experience Automation (CXA)” (from Ushur). The offering optimizes communications for “Short-Term Disability” processes.
Furthermore, the solution automates follow-up and data capture, reducing application rejections and “not in good order (NIGO)” responses to applications.
