The industry hummed along into the new month as the first leaves of the fall showed their gold colors. Partnerships continued to thrive, paving the way for new solutions. Talk about evolution!
Headlines to take note of:
- Octaura and Allvue improved conditions in the loan trading sector;
- Nasdaq restructured operations;
- Broadridge unified asset servicing activities;
- PayPal enabled crypto trading for business account holders;
- Plus, Intuit came back again with something new (read on to find out);
- And much more!
Of course, it’s your week in digital wealth!
Wealthtech, Regtech, Regulatory, and Treasury
Octaura Holdings LLC/Allvue Systems LLC
The loan markets got a boost with a partnership between Octaura and Allvue. The collaboration integrates Octaura’s Electronic Loan Trading solution with Allvue’s Trade Order Management System.
Subsequently, the move provides FIs with improved liquidity, efficiency, and order processing capabilities.
On the quant end, investors have improved access to data and analytics via cooperation between the algorithmic platform QuantConnect and boutique broker-dealer TradeStation. QuantConnect’s API is now integrated with TradeStation’s platform.
Moreover, TradeStation’s clients can access tools to develop, back-test, and deploy algorithmic tools and strategies.
Premier markets and exchange operator Nasdaq took things further by implementing a regional management distributed structure for its Global Listings franchise. In North and South America, Nasdaq Listings will (now) have three business units: the West Coast region (and Texas), the East Coast region, Latin America, and the Southern United States region.
Nasdaq launched its Listing business to improve infrastructure access and efficiency.
Webull Canada
Across the border in Maple Country, boutique trading ecosystem Webull Canada launched options trading for its retail users. The move provides users with hedging and diversification capabilities.
Crypto, Blockchain, and Digital Assets
Ethereum-based synthetic stablecoin Ethena revealed plans to launch another stablecoin. The “UStb” will (reportedly) have BlackRock’s tokenized U.S. Treasuries fund (BUIDL)as its reserves. Additionally, the “UStb” will have different functions from Ethena’s “USDe” stablecoin.
In a September 25 announcement, PayPal revealed the availability of cryptocurrency functionality for U.S. merchants. Merchants can (now) buy, hold, and sell crypto tokens via business accounts.
Furthermore, the feature is not available to residents of New York.
The leading crypto enterprise platform Bitwave revealed an update on cost tracking for wallet holders. Under new IRS rules, account-level cost tracking is now available for all users.
The previous universal wallet accounting standard will twilight on January 1, 2025.
Fintech, Personal Finance, and Apps
Self-employed professionals and SMBs have options with the addition of business banking Fintech Found to card issuer Marqeta’s network. The deployment launches Found’s commercial card product, which enables business banking and expense management services.
Consequently, the integration provides the segment with improved access to credit, cash flow, bookkeeping, and tax management tools.
Niche Fintech Intuit pulled all the stops at its (annual) Investor Day event with its AI-focused expert solution. The AI assistant will integrate with Intuit’s product suite, including “Credit Karma”, TurboTax, QuickBooks, and MailChimp.
Furthermore, the offering will provide users with flexible options.
Airbase, Inc.
Similarly, premier procure-to-pay Fintech Airbase introduced its AI-focused Touchless AP (accounts payable) product. The solution has next-gen features, including automated document processing, vendor management, and fraud detection alongside expense management functionalities.
Moreover, the solution is available to all Airbase’s customers.
Cross River Bank/Forward
Software developers can breathe easier with a partnership between Cross River and niche tech firm Forward. The collaboration enables financial solutions for Software-as-a-Service (SaaS) providers within tech ecosystems, including embedded payments, same-day ACH payouts, and more.
Additionally, the integration gives Forward access to Cross River’s API-driven platform.
Paymentus/Altera Digital Health Solutions
The healthcare industry wasn’t left out with a collaboration between Paymentus and Altera Digital Health Solutions. The partnership enables seamless billing options via integrations between the Paymentus platform and Altera’s product suite.
Furthermore, the deployment improves access to electronic healthcare records.
Banking, Payments, and Infrastructure
Galileo Financial Technologies
Boutique Fintech firm Galileo revealed the launch of “Galileo Secured Credit with Dynamic Funding,” an offering that simplifies access to credit. The solution enables credit-building services for underserved population segments and gives FIs (enhanced) tools via automated cashflows.
Additionally, the solution enables flexible cash management options from a single account with debit and credit capabilities.
In a September 24 announcement, decision origination-focused Amount introduced “SMB Suite,” an offering that improves small business lending and deposit processes. The product provides FIs with improved capabilities via (several) features, including fully functional fraud detection, compliance-ready beneficial ownership, customer-focused onboarding, organized preset data sources, and more.
Expense-focused Fintech Sunbit announced an integration with Stripe, increasing merchant options. The collaboration improves payment flexibility for physical businesses, giving customers extended options, including Buy-Now-Pay-Later (BNPL).
Simulation-focused engagement Fintech Swaystack revealed it’s joining the Q2 Partner Accelerator Program. The move empowers FIs to directly purchase and integrate Swaystack’s platform from within Q2’s ecosystem.
Additionally, the deployment helps FIs mitigate customer attrition rates via Swaystack’s gamified solution.
REtech, Insurtech and Investing
Risk Administration Services, Inc. (RAS)/CLARA Analytics
Sioux Falls, South Dakota-based RAS chose CLARA Analytics to extend its claims ecosystem. The deployment integrates CLARA’s AI-focused products.
Furthermore, the “CLARAty.ai” solution provides RAS with adequate tools to aid adjusters.
West Bend Insurance/ZestyAI
West Bend Insurance revealed the expansion of its (ongoing) partnership with ZestyAI. The collaboration leverages ZestyAI’s “Z-PROPERTY” offering to streamline West Bend’s renewal and underwriting processes.
Moreover, West Bend aims to deploy the solution in property underwriting.
SureChoice Underwriters Reciprocal Exchange/SageSure
As California’s wildfires continue to rage, SureChoice and SageSure teamed up to launch a non-admitted business owners policy (BOP). The BOP solution covers several businesses, including artisan contractors, retail and wholesale firms, and offices.
