Things continued full steam ahead despite the extraordinary geopolitical situations. Regulators continued to encourage innovation while guiding it with consumer protections.
Headlines to take note of:
- BNY announced several improved deployments;
- TT introduced a boutique pre-trade risk offering;
- CME and Integral revealed an enhanced, FX-focused partnership;
- PayPal announced ad-focused and enhanced storefront options ;
- Additionally, U.S. Bank unveiled improved embedded payment options (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
The Bank of New York Mellon Corporation (BNY)
Banking giant BNY announced the successful integration of its buy-side-focused CollateralOne ecosystem with its investment-focused offering LiquidityDirect. Clients can now automate Money Market Fund three-way transactions by pledging cash as collateral in open trades.
Furthermore, the deployment improves the flexibility of asset usage in the trade collateral process.
Trading Technologies International, Inc. (TT)
In a June 17 press release, boutique markets software provider TT introduced Pre-Trade Portfolio Risk, a sell-side protection feature on its ecosystem. The offering calculates worst-case scenario margin scenarios before clients can execute orders.
Additionally, the estimations are industry standard and equivalent to those provided by clearinghouses.
Integral Development Corp./CME Group
In a June 18 announcement on its website, niche Fintech Integral revealed a collaboration (with CME). Integral’s clients have fee-free access to the CME FX Spot+ and EBS offerings from within its ecosystem.
The deployment is seamless with zero-code enhancements.
World Federation of Exchanges (WFE)
On June 16, the WFE provided a boost to the T+1 settlement process with a guidance document. The document examined current global integrations and identified seven critical conditions for successful implementation.
They include proper liquidity management strategies, accurate compliance, accurate settlement alignments, seamless communications between regulators and industry players, cost planning, and seamless synchronizations between processing capabilities and data availability.
Crypto, Blockchain, and Digital Assets
Coinbase/J.P. Morgan (Kinexys)
Kinexys, the blockchain subsidiary of J.P. Morgan, announced plans to launch the JPMD, a dollar deposit token on the Base network. The institutional-focused token will feature several key aspects, including speed, security, and availability.
In addition, the JPMD will be an industry-first, enabling secure transactions between institutions.
Similarly, a June 17 Reuters report revealed that Coinbase is seeking SEC approval to offer tokenized equities trading for customers. The move will be an added offering to its current product portfolio.
Additionally, tokenized equities trading has yet to launch in the United States.
Mercurity Fintech Holding Inc./Franklin Templeton
Niche Fintech Mercurity announced its collaboration with financial behemoth Franklin Templeton. The cooperation enables support for the Franklin OnChain U.S. Government Money Fund (FOBXX) and its BENJI token with Mercurity’s tokenization-focused ecosystem.
Moreover, the deployment enables seamless access to investment avenues alongside yield-earning opportunities.
Fintech, Personal Finance, and Apps
E-commerce giant PayPal improved its digital advertising game with the launch of Storefront Ads, a feature that creates active storefronts from PayPal Storefront ads. Paypal and Venmo’s payment rails power the offering.
Furthermore, the integration provides customers with improved options by converting existing shopping experiences into additional, instant purchase opportunities.
In a June 16 post on its website, niche Fintech TaxFyle unveiled TXF Intelligence, a GenAI offering that improves filing processes for small accounting setups. TXF Intelligence has integrations with All-American favorite ERPs, including Drake Tax and ProConnect.
Additionally, the solution enables improved processes for small tax firms with large workloads.
Underdog Technologies Inc. (Pinwheel)/Jack Henry & Associates. (Jack Henry)
On the FI end, API-focused Pinwheel announced several extras to its current integrations with the Jack Henry™ digital banking ecosystem. The improvements include Pinwheel’s Switch Kit and Bill Navigator solutions.
Consequently, the deployments enhance billing processes, streamline onboarding, and enable improved subscription savings for CFIs and regional banks.
Banking, Payments, and Infrastructure
Bruce, South Dakota-based Richland State Bank, has selected Finovifi’s Modern Banking Systems (MBS) offering as part of an ongoing upgrade. The deployment enables several features for the FIs under Richland’s umbrella, including customer-focused risk profiling processes, intelligent cheque fraud analysis, and AI-focused compliance processes.
Richland will also continue using its internal processing features, while its Bryant State Bank business will deploy the MBS Service Bureau feature.
Wells Fargo & Company/i2i Logic (USA) Inc.
A June 18 press release revealed a collaboration between boutique Fintech i2i Logic and banking giant Wells Fargo. The partnership integrates the i2i Logic Client Intelligence Platform with Wells Fargo’s Commercial Banking ecosystem.
Furthermore, the deployment enables enhanced and improved individualized interactions with customers.
U.S. Bank
On June 17, All-American FI U.S. Bank announced several additions to its U.S. Bank Embedded Payment Solutions product portfolio. Enhancements include a resilient for-benefit-of (FBO) offering that enables corporate payments on behalf of customers.
Additionally, the setup integrates enhanced virtual account support with payment and risk management functionalities.
Best Egg, Inc./Column National Association (Column Bank)
Boutique lending platform Best Egg unveiled its selection of nationally chartered FIs. As part of the collaboration, Column is now Best Egg’s banking partner and will finance various aspects of its operations.
Moreover, the setup combines Column’s Fintech-enabled backbone with the Best Egg ecosystem, enabling seamless operations.
REtech, Insurtech and Investing
Healthcare-focused Sunny Benefits revealed its collaboration with Visa. The cooperation integrates the Sunny Visa Prepaid Card with the Sunny App.
Consequently, users can now spend earned benefits and rewards via the app.
Sure, Inc.
On the AI end, boutique Insurtech Sure introduced its Model Context Protocol (MCP). The offering marks a new era for the industry, enabling AI-agent-powered insurance policy operations.
Through the MCP’s framework, AI Agents can now perform several functions autonomously, including policy quotes, servicing, and binding.
Verisk Analytics, Inc./One, Inc.
Industry-focused payments platform One partnered with risk-focused Verisk. The cooperation integrates One Inc’s PremiumPay with Verisk’s FAST (Flexible Architecture, Simplified Technology) infrastructure.
Moreover, the deployment enables enhanced digital inbound payments, thereby boosting operations in the annuity and life insurance markets.
