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HSBC TO LAUNCH BANKING AS A SERVICE
HSBC is to launch a Banking as a Service (BaaS) offering that will enable customers to create and provide business banking services through their own platforms.
HSBC and Oracle NetSuite, one of the leading cloud Enterprise Resource Planning (ERP) systems with over 27,000 customers worldwide, are working together to provide international payments and expense management services embedded into NetSuite’s new SuiteBanking solution. NetSuite customers will be able to automate accounts payable, accounts receivable and reconciliation processes, making it fast and simple to pay bills, send invoices, get paid and gain full cash flow visibility, all from within a unified system.
YEXT LAUNCHES FINANCIAL SERVICES CLOUD, HIGHLIGHTED BY GUIDED AI-POWERED SEARCH SOLUTION
Yext, Inc. , the AI Search Company, today announced the launch of its Financial Services Cloud, a set of AI search solutions optimized for banks and other financial institutions.
Incorporating classic Yext capabilities like advanced AI-powered site search, accurate third-party listings, and search-optimized landing pages, the Financial Services Cloud also introduces a completely new solution: Guided Search. The solution leads consumers through a series of questions on a financial institution’s website in order to match them with the product, service, or financial professional aligned to their unique needs. With hyper-personalization emerging as a top trend in the financial services industry, it’s never been more important for institutions to bypass a one-size-fits-all approach, and instead offer customizable online experiences to their customers.
OPTIONS TECHNOLOGY ANNOUNCES ACQUISITION OF ACTIV FINANCIAL
Options Technology, the leading provider of Capital Markets services, backed by Abry Partners, today announced it has agreed to acquire ACTIV Financial. The financial terms of the agreement were not disclosed.
As a long-term provider of global capital markets services including cloud-enabled managed solutions, global trading infrastructure and telemetry analytics services, this deal reinforces Options’ commitment to continually add value and optimize their offering to capital markets firms.
MOODY’S ANALYTICS LAUNCHES ENHANCED STRUCTURED FINANCE SOLUTION
Moody’s Analytics is pleased to announce the launch of ABS Suite Plus, a next-generation version of its industry leading solution for end to end structured finance administration, accounting, funding optimization, and analytics. By incorporating workflow automation, funding optimization and enhanced reporting capabilities, ABS Suite Plus deepens Moody’s Analytics capabilities in this space following its targeted investment in Deloitte’s ABS Suite Business.
Structured finance issuers face a variety of challenges including audit, compliance, reporting, and other operational obligations. ABS Suite Plus, which is designed for many types of user roles, supports securitization issuance programs of all sizes, asset classes, and complexities. Issuers and trustees globally use it to increase operational efficiency, mitigate risk, and automate the manual processes associated with structured finance transactions.
PERCENT LAUNCHES SYNC PLATFORM FOR SPECIALTY FINANCE COMPANIES, FURTHER REVOLUTIONIZING HOW COMPANIES RAISE DEBT CAPITAL
Percent, the capital markets platform transforming a multi-trillion-dollar lending industry, announces the release of its comprehensive Sync platform to further accelerate the growth of today’s most innovative fintech lenders and financing companies as they continue to disrupt the industry.
After raising $12.5 million in Series A funding this past April in a round co-led by White Star Capital and B Capital Group, the three-year-old capital markets infrastructure provider channeled its efforts into building Sync, a comprehensive, first-of-its-kind software and services suite for specialty finance companies. Sync’s launch translates Percent’s recent successes in helping first-time institutional issuers secure over $284 million in funding, bringing the same unparalleled access and toolset to the entire private credit industry on a revolutionary open platform.
CAPWAY LAUNCHES INCLUSIVE DIGITAL BANK WITH FINANCE-INSPIRED LIFESTYLE PRODUCTS AND SERVICES
CapWay, Inc., a financial technology startup based in Atlanta, has announced the launch of its neobank, the core service in its financial system of inclusive products and services. With a CapWay Money Account and CapWay Visa (virtual and physical) debit card, benefits include the ability to make online transactions, send and receive money, and round-up change per transaction to direct towards “Money Goals.”
Prior to launching, the company had amassed a lengthy waitlist of individuals interested in opening an account, which CapWay onboarded over the summer. Now open to all, consumers can download the CapWay mobile app or visit the website to open a CapWay Money Account; create, save, and collaborate on Money Goals; consume financial content; and enroll in financial programs.
FINASTRA INTRODUCES INSTANT ONBOARDING FOR CLOUD PAYMENTS TECHNOLOGY
As Sibos 2021 opened (virtually) today, Finastra announced new instant onboarding capabilities for its Fusion Payments To Go solution. The move enables banks to access the benefits of Finastra’s SaaS solution at speed and with reduced cost, meaning organizations can bring innovative and tailored payments products to their customers with greater efficiency as demands change.
Oren Marmur, General Manager, Payments at Finastra, said, “We are committed to making payments transformation as easy as possible. This capability offers simple onboarding with a short lead time, so that banks can overcome legacy technology constraints, implement with transparency around timeframes and cost, and bring leading payments products to customers at speed. We’re talking about reducing the process of onboarding to just a few days with go live in a few months, rather than what might have taken some banks a year. Beyond the significantly reduced onboarding and go live timeframes, this will allow smaller banks, for which the cost of complex payments transformation might be prohibitive and the operational processes too complex, to enjoy the benefits of an advanced Payments Hub with modernized capabilities.”
MORTON CAPITAL LAUNCHES A NEW DIGITAL EXPERIENCE THAT RAISES THE BAR ON TRADITIONAL FINANCIAL WEBSITES
Morton Capital, a rising star in the alternative investment and RIA space, launched its highly dynamic new website this week. The vision of the website redevelopment, which began in late 2020, was to create a custom digital experience that reflected the client experience and reinforced the company’s relational approach and mission to “empower better investors.”
From the moment visitors arrive on the site, they are guided through a unique and interactive experience matched to their interests. The user journey has been designed to be educational, visually interactive, and enjoyable. Upon landing on the site, the animated type and life-moments video inspire the visitor to get in the mindset and think about what enjoying life means to them on a personal level. This is immediately followed by the question that sets the tone for the site, “How can we help?” Four main options appear to steer them in the direction that resonates with their interest or needs, whether that is investment advice or simply browsing.
H.I.G. TECHNOLOGY PARTNERS MAKES A STRATEGIC INVESTMENT IN MOBILEUM
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $47 billion of equity capital under management, is pleased to announce that an affiliate of H.I.G. Technology Partners (“HTP”) has entered into a definitive agreement to make a strategic investment in Mobileum, Inc. (“Mobileum” or the “Company”) to help the Company accelerate technology investments and growth enabled by the roll-out of 5G technologies and private networks across the world.
DEUTSCHE ADDS NEW FINANCIAL SPONSORS BOSS FOR AUSTRALIA
Deutsche Bank will be out to win a bigger slice of private equity work in Australia after tapping a London-based banker to head its financial sponsors coverage. Deutsche Bank is moving London-based head of loan syndicate, David Garcia Capel, to Sydney as its new head of financial sponsors for Australia.
ELEVATE CREDIT AND CENTRAL PACIFIC BANK TO COLLABORATE ON NEW FINTECH COMPANY “SWELL”
Elevate Credit, Inc., a leading tech-enabled provider of innovative and responsible online credit solutions for consumers, today announced that it is working with Central Pacific Financial Corp. (NYSE: CPF), parent company of Central Pacific Bank (the “Bank”), as the Bank seeks to expand its presence beyond Hawaii and into the mainland U.S through Swell, a newly launched fintech company. Swell will launch a consumer banking app that combines checking, credit and more into one integrated account, with the Bank serving as the bank sponsor. The Elevate Blueprint™ platform will embed into Swell’s broader fintech platform to enable the Bank to offer personal lines of credit through Swell at APR’s below 24%. Additionally, Elevate will be making an equity investment in Swell.
GREATAMERICA ACQUIRES FRANCHISE FINANCING FIRM IRH CAPITAL
GreatAmerica Financial Services, which works closely with MSPs and channel partners, has acquired IRH Capital LLC, a provider of financing to franchises. Financial terms of the deal were not disclosed. This is technology M&A deal number 106 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
MONESE LAUNCHES NEW CREDIT BUILDER
Monese, the leading pan-European fintech, is expanding its offering with the launch of a new Credit Builder service for its customers in the UK. Having opened a waitlist in 2021, Credit Builder is now available and being used by selected customers in an early access programme ahead of being made generally available to UK customers over the coming months.
HUAWEI PARTNERS WITH CURVE TO BRING CONTACTLESS PAYMENTS TO HUAWEI SMARTPHONES
NFC contactless payment is now widely available on Huawei smartphones, including the Huawei P50 Series. Huawei has partnered with Curve – the financial super app which combines all of your debit, credit and loyalty cards into one, easy-to-use smart card – to launch Curve Pay so Huawei customers can pay by phone through one digital wallet.
LOANS CANADA AND EVEN FINANCIAL ANNOUNCE STRATEGIC PARTNERSHIP TO HELP CANADIAN BORROWERS
Even Financial (“Even”), the category-leading embedded finance marketplace, and LoansCanada.ca (“Loans Canada”), the leading loan comparison site in Canada, have announced a strategic partnership to help Canadian borrowers find optimal loans and credit solutions.”As the online financial services ecosystem continues to grow rapidly in both the US and Canada, the infrastructure for financial services providers to distribute their products digitally remains fractured and a bottleneck to growth,” said Phill Rosen, Founder and CEO of Even Financial. “With this in mind, we’re thrilled to partner with Loans Canada, which plays a critical role in connecting Canadian consumers to the financial products they need.”
CANADIAN DOLLAR FALLS BELOW 1.25
The Canadian dollar continues to push higher and USD/CAD has dropped below the symbolic 1.25 line. The pair is currently trading at 1.2476 and is close to 1.2553, its lowest level since November 10th. US Treasury rates continue to move higher. After punching past 1.80% on Tuesday, a 2-year high, the 10-year rate has climbed to 1.90%. The 10-year rate hasn’t been above the symbolic 2% level since July 2019, but it looks poised to climb above that line shortly.