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EDELMAN STRENGTHENS INTEGRATED FINANCIAL COMMUNICATIONS OFFERING IN CANADA WITH LAUNCH OF EDELMAN SMITHFIELD
Edelman announced today the launch of Edelman Smithfield in Canada, a dedicated financial and capital markets communications boutique agency within the larger firm. Edelman Smithfield in Canada offers Board and C-suite level communications expertise in mergers and acquisitions, bankruptcies and restructurings, corporate governance, asset management and private equity, as well as capital markets regulation and other special situations. Edelman has operated its financial and capital markets communications specialty as Edelman Smithfield in London, UK after acquiring Smithfield Consultants in 2015.
M1 FINANCE SELECTS THE TEMENOS BANKING CLOUD TO POWER ITS FINANCE SUPER APP™
Temenos , the banking software company, today announced that M1 Finance, the Finance Super App™, has selected The Temenos Banking Cloud. With Temenos, and through collaboration with a third-party bank, M1 will broaden its suite of financial services to include banking, starting with deposits and payments and eventually expanding into lending.
M1’s mission is to empower financial well-being by creating one of the world’s best platforms for long-term money management. The company has created a suite of financial tools enabling clients to Invest, Borrow and Spend. M1 takes the complexity out of investing, making wealth creation easy while promoting healthy financial habits. In July 2021, M1 completed a round of Series E funding that propelled it to unicorn status with a valuation of $1.45 billion.
FIDELITY BANK SELECTS TOTAL EXPERT TO EXPAND CUSTOMER RELATIONSHIPS THROUGH DATA-DRIVEN INSIGHTS
Total Expert, the customer experience platform purpose-built for modern financial institutions, today announced it has been selected by Fidelity Bank, one of the oldest and continually growing independent, local community banks serving customers in Central and Eastern Massachusetts.
Partnering with Total Expert, Fidelity Bank will bring CRM and marketing automation under one roof to empower front-line staff to make data-driven decisions and better serve customers. Fidelity Bank will leverage Total Expert to refine its customer engagement strategies aimed at helping consumers make well-informed and confident financial decisions.
PAYFARE TO INTEGRATE WITH PLAID TO ENABLE DIGITAL FINANCIAL SERVICES FOR THE GIG ECONOMY
Payfare, Inc. , a leading fintech powering instant payout and digital banking solutions for the gig workforce, today announced it is integrating with Plaid, a data network powering the digital financial ecosystem.
Payfare powers faster, digital payments for some of the world’s largest on-demand platforms. In addition to instant access to earnings, its offerings also include full-service digital banking apps and payment cards with cash-back rewards and more.
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.
RESIDEO ANNOUNCES AGREEMENT TO ACQUIRE FIRST ALERT, INC., A LEADER IN HOME SAFETY PRODUCTS, AND PROVIDES PRELIMINARY FOURTH QUARTER FINANCIAL RESULTS
Resideo Technologies, Inc. , a leading global provider of home comfort and security solutions and distributor of commercial and residential security and audio-visual products, today announced that it has entered into a definitive agreement to acquire First Alert, Inc., a leading provider of home safety products, from Newell Brands Inc. for $593 million in an all cash transaction, or approximately $547 million net of expected future tax benefits.
OCEANFIRST FINANCIAL CORP. ANNOUNCES ACQUISITION OF TRIDENT ABSTRACT TITLE AGENCY, LLC
OceanFirst Financial Corp., the holding company for OceanFirst Bank N.A., today, announced the Company has signed an agreement to acquire a majority interest in Trident Abstract Title Agency, LLC with the right to acquire 100%. The transaction is expected to close on March 1, 2022. Upon closing, Trident will operate as an independent subsidiary of the Company. Established in 1975, Trident is a family owned and operated business located in Wall Township, New Jersey. Current owners, Chris Carton and Derrick Scenna will continue to manage the daily operations. Trident writes title insurance through all the nation’s leading underwriters and through strategic alliances can also service client’s title insurance needs outside of New Jersey.
PROVEN ACQUIRES FIDELITY BANK (CAYMAN) LIMITED
PROVEN Investments Limited (PROVEN/PIL), through its newly formed subsidiary PROVEN Bank Holdings Limited, is pleased to announce the completion of its acquisition of 100% of the outstanding shares in Fidelity Bank (Cayman) Limited (FBC) from Fidelity Bank & Trust International Limited effective February 1, 2022. The move to acquire Fidelity Bank (Cayman) Limited (FBC) which started last year supports PROVEN’s vision of being the premier Caribbean and Latin American Private Equity Firm with acquisitions that fit into its Core Banking and Wealth Division business model.
MODULR AND RIPPLE ANNOUNCE STRATEGIC PARTNERSHIP TO ENABLE SEAMLESS PAYMENTS INTO THE UK AND EUROPE
Today, leading payments platform Modulr announced a partnership with Ripple, the leader in enterprise blockchain and crypto solutions, to enable seamless payments into the UK and Europe. Trust Payments, the global unified payments group, is the first customer to go live and begin benefiting from the partnership.
Together, the two leading FinTechs will make it easier than ever for businesses, like Trust Payments, to run real-time payments internationally powered by Ripple’s financial technology, RippleNet. With Modulr’s technology, global businesses have an alternative to legacy correspondent banking and can now make payments into the UK and Europe faster, more reliable, and cost-effective.
ECONOMY SEEN GROWING 6.3%, BEATING BANK OF CANADA FORECAST
Data suggest economic activity climbed above pre-pandemic levels for the first time in fourth quarter. Canada’s economy grew more than expected in November to bring real gross domestic product above its pre-pandemic levels, but the Omicron variant could throw a wrench in those gains. Real GDP in November grew 0.6 per cent, beating Statistics Canada’s preliminary estimate of 0.3 per cent, the agency reported Tuesday.
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.