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EMBEDDED FINANCE LEADER ALVIERE RUNS AD CAMPAIGN ANNOUNCING OFFICIAL ARRIVAL OF NEW ERA OF FINANCE
Alviere, the leading global embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, today unveiled full page newspaper ads that officially announce a new era of financial services that will result in leading consumer brands offering all the same financial services traditionally only accessible at banking institutions.
The series of four ads appear in “The Wall Street Journal.” The ads carry bold titles and include a URL that directs readers to a landing page with more details about how brands can bring financial services to their large customer base to establish deeper, meaningful relationships with their existing customers.
KEYBANK ACQUIRES LEADING PAYMENTS INNOVATOR XUP
KeyBank National Association today announced that it has acquired XUP Payments, a B2B focused digital platform.
XUP’s technology enables simple, intuitive, client onboarding and servicing experiences. Its team of engineers has built integrations with processors, 3rd party risk tools, customer relationship management systems, and other fintech services, allowing banks to offer a more integrated and seamless payments experience. Key was an early investor in XUP, and this transaction follows a highly successful partnership between the two companies which transformed Key’s Merchant Payments capabilities, accelerating its top quartile volume growth.
GOOGLE PAY TO LAUNCH NEW VOICE FEATURE, ONLINE STOREFRONT
Google Pay will be adding features that enable users to enter account numbers and initiate payments using their voice, split bills within a group and, for merchants, easily build an online storefront, Business Standard reported Thursday (Nov. 18).
“We’ve been on a mission to make money simple, and in general, the way we think about it is creating a lot of economic opportunity for everyone, whether it’s banks or our partners,” Google Pay Vice President of Product Management Ambarish Kenghe told PTI, as quoted in the report.
MASTERCARD ADVANCES GLOBAL OPEN BANKING CAPABILITIES WITH CLOSE OF AIIA ACQUISITION
Mastercard today announced it has completed its acquisition of Aiia, a leading European open banking technology provider that offers single and secure API access to banks and fintech companies, and enables users to easily perform account-to-account payments. Aiia further advances Mastercard’s existing distribution channels, technology, data practices and global multi-rail and open banking strategy.
COMVIVA AND STRANDS PARTNER TO PROVIDE PERSONAL FINANCE MANAGEMENT SOLUTION TO BANKS, DIGITAL WALLET AND PAYMENT SERVICE PROVIDERS
Comviva, one of the global leaders in providing digital financial solutions today announced a strategic partnership with Strands to provide an integrated suite of intelligent digital banking, wallet and payment solutions.
Through this partnership, Comviva will leverage Strands’ smart Personal Finance Management (PFM) solution to enable banks and financial service providers to deliver personalized and contextual digital offerings to their consumers, enhancing consumer-engagement and generating cross and up-sell opportunities.
BLACKLINE TO COLLABORATE WITH MICROSOFT TO BRING GREATER FINANCE & ACCOUNTING AUTOMATION TO MICROSOFT DYNAMICS 365 CUSTOMERS
Building on its longstanding relationship delivering finance and accounting automation solutions to Microsoft Dynamics GP customers, BlackLine, Inc. today announced it is expanding on the collaboration to bring enhanced automation and financial operations management to Microsoft Dynamics 365 customers.
“Through our collaboration with Microsoft, we seek to help finance and accounting teams at midsize companies, as well as large organizations, gain control over their financial close, intercompany accounting, accounts receivable and other key processes for the office of the Controller,” said Mel Zeledon, senior vice president of channels and alliances at BlackLine. “Together we’re providing an end-to-end solution, delivering greater customer value through enhanced connectivity and integration.”
EMPRISE BANK SELECTS TREASURY PRIME AS BANKING-AS-A-SERVICE (BAAS) PARTNER TO CREATE NEW EMBEDDED BANKING PROGRAM
Treasury Prime, the leading Banking as a Service (BaaS) company, announced today that after a competitive evaluation, Emprise Bank has chosen Treasury Prime as its strategic partner for its new embedded banking initiative. Together, Emprise Bank and Treasury Prime will build a program to enable companies to quickly and easily embed banking services, including bank accounts, payments, and cards, into their products or offerings. The program is scheduled to go live in the first quarter of 2022 and the teams are lining up the first fintech clients.
“There has been an explosion of investment in fintech companies and the vast majority of them need a supportive and reliable bank partner so they can build their businesses,” said Chris Dean, CEO of Treasury Prime. “Emprise Bank understands what it takes to be a great fintech bank: moving fast, providing clarity and counsel on regulatory issues and compliance, and supporting their clients as they go from launch to growth to scale. Together we’re going to power a new generation of fintech and neobank innovation.”
AGNOSTIQ SELECTS PENNYLANE TO DEVELOP QUANTUM PLATFORM FOR FINANCE
Agnostiq partners with Xanadu to build products on top of Xanadu’s open-source software, PennyLane, to solve and address financial problems using advanced computing technologies. PennyLane provides a powerful and pioneering differentiable programming approach to quantum computing. It seamlessly integrates classical machine learning libraries with quantum hardware and simulators, giving users the power to train quantum computers the same way as neural networks.
LIFTFORWARD PLATFORM POWERS MICROSOFT STORE POS FINANCING PROGRAMS
Microsoft Store has selected the LiftForward Buy Now Pay Later (“BNPL”) subscription platform to expand financing offerings in the United States, United Kingdom, Canada, Germany, Austria, Spain, Italy, France, Poland and Benelux. In these territories, the LiftForward Platform connects various financial institutions with consumers to finance short-term BNPL solutions or longer-term financing options. The LiftForward Platform facilitates the customer experience at the point-of-sale and manages the credit applications, fraud detection, customer verification, underwriting, servicing, fulfillment, and customer support.
BUILT PARTNERS WITH GREENSTATE CREDIT UNION TO ACCELERATE COMMERCIAL LENDING
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced that it is partnering with GreenState Credit Union to help it better scale its $2 billion commercial portfolio in the Midwest and support existing members more efficiently and effectively. As GreenState expands into key regional markets, including Chicago, it adopted Built’s platform to move past time-consuming legacy lending processes, paperwork, and spreadsheets, in order to provide a better experience for their members.
DOLLAR UP, GAINS AS RUSSIAN ROUBLE FALLS TO ALL-TIME LOW AMID FRESH SANCTIONS
The dollar was up on Monday morning in Asia, while the Russian rouble fell to a record low. Tensions over the Russian invasion of Ukraine continue to rise, with Western nations announcing fresh sanctions against Russia and Russian President Vladimir Putin putting nuclear-armed forces on high alert.
EDFUNDO LAUNCHES WORLD’S FIRST FINANCIAL INTELLIGENCE LAB & SMART MONEY MANAGEMENT APP
Two UAE-based teachers have fused edtech with fintech to create the first financial intelligence hub, complete with a learning resource and a smart money management app built by educators to nurture money management skills among kids and teens. The purpose-built learning resource – the Edfundo Learning Lab – comprises a mix of face-to-face and micro online, free, and paid-for educational programmes.
SYNECHRON ANNOUNCES THE LAUNCH OF ITS PAYTECH ACCELERATOR PROGRAM
Synechron, Inc., a leading global digital transformation consulting firm focused on the financial services industry, announced the launch of its PayTech Accelerator Program, aimed at helping banks and other financial services institutions seize new opportunities across the payments landscape and solve evolving common business challenges. This program leverages the expertise of Synechron, joining forces with the payments domain and technology experts from Attra, made possible through Synechron’s acquisition of Attra in December 2020. This is the ninth Accelerator program that Synechron has launched since September 2016 and offers a suite of cutting-edge, scalable solutions that are design-led, data-driven, and technology-enabled.
FV BANK INTRODUCES FIRST API TO INCREASE AUTOMATION OF ITS PAYMENTS AND DATA SERVICES
FV Bank, the US bank for digital asset banking and custody services, has introduced its first application programming interface (API) to advance bank automation and integration for its clients’ operations. FV Bank’s API will enable firms to scale their operations through automating data flows and payments systems. The API will streamline payments including ACH, Domestic Wire, international wires and internal transfers using FVNet, the FV Bank framework. Compliance functions will automatically run in the background, including sanctions screenings to ensure anti-money laundering compliance.
VINCI PARTNERS IMPACT AND RETURN STRATEGY ANNOUNCES INVESTMENT IN DM CARD
Vinci Partners Investments Ltd., the controlling company of a leading alternative investment platform in Brazil, announced today that “Vinci Impacto e Retorno IV”, or “VIR IV” (“the Fund”), the Impact family of funds managed by Vinci Partners’ Private Equity strategy, entered an agreement to invest a R$ 100 million in an investment round for the acquisition of a minority stake in DM Card, a fintech focused on credit to low income population and one of the main Private Label card issuers to retailers in Brazil.
EUROPEAN FINANCIAL SERVICES PROVIDERS, BANKS EMBRACE BIOMETRIC AUTHENTICATION
In Europe, financial services companies and banks are embracing biometrics, actively partnering with tech vendors and software developers to improve digital onboarding experiences, strengthen compliance functions, and enhance fraud prevention. Biometric authentication techniques, which use a person’s unique biological characteristics such as their fingerprints, facial features and voice, to verify they are who they say they are, are fast becoming the go-to methods to verify one’s identity.