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JP MORGAN ENABLES FINTECH FIRM EVEN WITH REAL TIME PAYMENTS
Today, fintech startup Even is setting a new trend with support from J.P. Morgan, the U.S. banking powerhouse with a market capitalisation of over $496 billion. The company has revealed JP Morgan is enabling real time payments (RTP) for it.
With this new feature, Even is planning to be one of the first businesses in the world to provide millions of hourly workers across the United States immediate access to their earned salaries. Until now, this option has only been available to people working for online platforms such as ride-hailing apps.
TROVATA LAUNCHES ITS INTEGRATED API BANK CONNECTOR(TM) FOR SAGE PRODUCTS
Trovata, the global leader in cash management automation and bank data aggregation via APIs in wholesale banking, announced today the availability of its API Bank Connector™ within multiple Sage products via Sage Banking Service in the U.S.
Trovata will connect and manage these feeds to streamline journal entries and bank reconciliation within Sage products using Sage Banking Service, a global platform that integrates with banks and bank aggregators, keeping accounts up to date and reconciled with transactions in customers’ bank accounts. This gives Sage customers, who use a solution such as Sage Intacct, the ability to easily connect to their corporate banking portals – including J.P. Morgan Access, Wells Fargo CEO, and Bank of America CashPro – using Trovata’s cash management platform. They can automate the transfer of daily bank transactions into their accounting system swiftly and accurately.
SPRINGBROOK SOFTWARE DELIVERS 50% INCREASED EFFICIENCY WITH NEW ADVANCED CAPITAL BUDGETING AND PLANNING SOLUTION FOR LOCAL GOVERNMENT AGENCIES
Springbrook Software, the leading cloud-based ERP platform for local government agencies, just released advanced Capital Budgeting and Planning, fully integrated with Springbrook’s cloud-based Cirrus financial platform. The solution reduces budget management and development time by 50%.
“Our full featured solution is developed for government agency finance teams to help them track, measure and improve organizational performance. Customers have reported up to a 50% savings in time in automating manual processes and up to 80% in reporting. The collaborative features of this solution make it ideal for the new, work from anywhere workforce,” says Robert Bonavito, Springbrook CEO.
MINING AND METALS BLOCKCHAIN PLATFORM MINEHUB TECHNOLOGIES LAUNCHES TRADE FINANCE APPLICATION
MineHub Technologies Inc. is pleased to announce the launch of its Trade Finance network application, available to all platform users. The Trade Finance application is the first in a series of network applications MineHub will be launching in the coming months.
MineHub Trade Finance is a network application, bringing visibility, security and efficiency to financiers of commodity transactions, whilst digitising administration and communication between lenders and financiers. Integrated with the core MineHub platform, this service is an additional offering that further increases the value of the MineHub platform to its users.
IMM AND CSPI PARTNER TO ACCELERATE DIGITAL TRANSFORMATION FOR COMMUNITY FINANCIAL INSTITUTIONS
IMM, the only eSignature provider that specializes in eSignature and digital transaction solutions exclusively for financial institutions, today announced it has partnered with Missouri-based Computer Service Professionals Inc. (CSPI), a fintech provider of core, digital banking, document management and item processing solutions, to give community financial institutions a more streamlined, enhanced digital banking platform. IMM’s flagship eSignature platform, IMM eSign, will be integrated with CSPI’s Aurora Advantage Digital Banking product suite.
TELSTRA COLLABORATES WITH EQUINIX TO DELIVER ENHANCED ACCESS AND NETWORK CONNECTIVITY TO MAJOR GLOBAL FINANCIAL EXCHANGES
Telstra, a leading global telecommunications and technology company, today announced it is collaborating with Equinix, the world’s digital infrastructure company™, to enhance the Telstra Octagon financial services solution and expand global access and direct connectivity between North America and eight of the world’s major futures and commodities exchanges.
Developed as a purpose-built solution for capital markets and fintech companies in North America, Telstra Octagon uses Telstra’s ultra-low latency global networks to support high-frequency trading activities. With Telstra’s financial trading solution available on Platform Equinix, Telstra can now offer financial organizations enhanced network connectivity, as well as access to Equinix data center, colocation and Equinix Fabric™ interconnection services adjacent to the exchanges.
PAYSAFE COMPLETES ACQUISITION OF VIAFINTECH
Paysafe , a leading specialised payments platform, today announced that it has completed its acquisition of market-leading German fintech company, viafintech. viafintech, known under the brand viacash, offers one of the largest bank-independent alternative payments infrastructures in Europe, allowing a popular alternative to the traditional banking system. For Paysafe, the investment allows it to expand in critical markets and position itself as the essential payments partner to challenger banks around the world.
ACCENTURE STRENGTHENS FINANCIAL SERVICES WITH BCS CONSULTING
Accenture, a multinational professional services company that specialises in IT services and consulting, has acquired BCS Consulting, a UK management consultancy that delivers complex business change for financial services firms.
Headquartered in London, BCS Consulting’s 250 strong team joins Accenture’s U.K. Financial Services Strategy and Consulting practice.
PAYMENT SERVICE PROVIDER TRANSACT365 LAUNCHES IN LATIN AMERICA
Transact365, a UK-based fintech, has launched its global payments platform in Latin America (LATAM), making it one of the largest alternative payments platforms in the region. The move enables cross border and local e-commerce transactions through bank transfers and local payment methods such as PIX and Boleto, ensuring consumers in the region can make online transactions and merchants have the capabilities to access them.
FIS ACQUIRES EMBEDDED FINANCE START-UP PAYRIX
US fintech start-up Payrix has been sold by equity firm Providence Strategic Growth and Dallas-based investment fund Blue Star Innovation Partners to payments giant FIS. The financial terms of the deal were not disclosed. Founded in 2015, the Atlanta-based Payrix provides embedded payment solutions for Software-as-a-Service (SaaS) verticals. The company offers clients the choice of payment facilitation-as-a-service (PFaaS) or a full payment infrastructure (payment IaaS) product based on business needs.`
JAGGAER ANNOUNCES PARTNERSHIP WITH PAYMENTS-AS-A-SERVICE FINTECH FINEXIO
JAGGAER Pay Enhances Source-to-Pay Offering with Automated Accounts Payable Solution JAGGAER, the global leader in Autonomous Commerce, and Finexio, the fast-growing digital Accounts Payable (AP) payments-as-a-service company, announced a strategic partnership that expands JAGGAER’s offerings to include a service-centric solution to simplify and optimize business-to-business (B2B) payments.
MASHREQ BANK CHOOSES THETARAY TRANSACTION MONITORING SOLUTION FOR CORRESPONDENT BANKING
Mashreq Bank of the UAE and ThetaRay announced they will collaborate in transaction monitoring. The implementation of ThetaRay’s AI-driven, next-generation solution allows safe and secure cross-border payment transfers for correspondent banking with protection from financial crime. The collaboration between the UAE bank and ThetaRay, a leader in its field, came to fruition thanks to the Abraham Accords that were signed in September 2020 to normalize relations between Israel and the UAE, Bahrain, Sudan, and Morocco.
3S MONEY PARTNERS WITH CLEARBANK TO BOOST INTERNATIONAL TRADE
3S Money, the UK bank challenger, has partnered with ClearBank, the cloud-based clearing bank, to offer multicurrency accounts to its retail and corporate clients for the first time, to support their international growth and that of their end users. The partnership will enable 3S Money’s corporate clients to hold multiple currencies in their accounts and make faster, more flexible payments in USD, EUR, GBP and EEA currencies via ClearBank’s API. This will enable them to launch local account capabilities, in order to scale faster into new markets, save time and increase their revenue. The partnership will also enable 3S Money’s clients to enable USD transactions, entering the American market for the first time.
CCC ACQUIRES INSURTECH SAFEKEEP
CCC Intelligent Solutions (CCC), a leading SaaS platform for the P&C insurance economy, announces it has acquired Safekeep, an AI leader in subrogation claims management technology. Safekeep is an enterprise platform that leverages AI to speed and improve subrogation management across auto, property, workers’ comp, and other insurance lines of business. The acquisition of Safekeep is a natural next step in CCC’s vision to deliver end-to-end straight-through claims processing.
DNA PAYMENTS ACQUIRES UK CARD SPECIALIST CARD CUTTERS
Payments provider DNA Payments has acquired Card Cutters, a card acceptance specialist, as part of its strategy to grow in the U.K., the company announced in a news release Wednesday Based in the U.K. and Ireland, Card Cutters provides merchant services and payment technologies to small, independent retailers and larger multi-outlet businesses. London-based DNA says the acquisition will also include Card Cutters’ Global Card Solutions, which gives merchants a range of card machine technology and merchant support, as well as Card Cutters’ subsidiary in Ireland.
HONEY EMBEDS INSURANCE INTO MORTGAGE APPLICATIONS WITH FINSURE
Insurtech Honey Insurance and mortgage aggregator Finsure Group have partnered to design a digitalised process that they say embeds home insurance into mortgage applications. Finsure’s nationwide network of more than 2000 brokers will offer clients insurance that is integrated into its Infynity platform. “Customers of Finsure brokers can now get their home insurance at the same time they get their mortgage in an embedded journey,” Finsure CEO John Kolenda said. “Every Finsure broker will be able to offer their clients Honey Insurance products after a short online education program.”