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AMADIS CHOSEN BY EMCREY FOR SOFTPOS PAYMENT SOLUTION
Amadis, a global payment software editor, leading supplier of EMV Level 2 card processing solutions and nexo universal payment acceptance applications, has been selected by eMcREY, a leading financial solution supplier in the Middle-East, for its SoftPOS solution. Amadis will provide eMcREY with its payment card processing software, enabling worldwide contactless payment acceptance on commercial off-the-shelf devices (COTS).
ZOE ANNOUNCES THEIR PARTNERSHIP WITH FORUM FINANCIAL MANAGEMENT
Zoe, a digital wealth platform that connects clients with fiduciary financial advisors, just announced a new partner joining their exclusive advisor Network. Zoe has a rigorous vetting process that ensures that clients are meticulously connected only with wealth managers among the top 5% of the country. RIAs that partner with Zoe are characterized by the high-quality, personalized, and unbiased advice they provide to their clients.
SALT SECURITY DISCOVERS GRAPHQL AUTHORIZATION FLAWS IN FINTECH SAAS PLATFORM
Salt Security, the leading API security company, today released new API threat research from Salt Labs that highlights a GraphQL API authorization vulnerability in a B2B financial technology (FinTech) platform. The findings, which were identified by researching the mobile applications and SaaS platform of this FinTech provider, call attention to authorization-level flaws that can arise with nested queries in GraphQL, an open-source query language used to build APIs. Salt Labs found that the failure to implement authorization checks correctly meant the researchers could submit unauthorized transactions against any customer account and harvest any customer’s sensitive data.
VISA INTRODUCES CRYPTO ADVISORY SERVICES TO HELP PARTNERS NAVIGATE A NEW ERA OF MONEY MOVEMENT
Visa , the world’s leader in digital payments, today announced the launch of Visa’s Global Crypto Advisory Practice, an offering within Visa Consulting & Analytics (VCA) designed to help clients and partners advance their own crypto journey. This comes at a moment when digital currencies are taking greater hold in the popular consciousness – according to research released today from Visa, awareness of crypto among financial decision makers surveyed is near universal at 94% around the world.
LIQUIDX LAUNCHES DIGITAL DISTRIBUTION OF TRADE FINANCE ASSETS
LiquidX, the global fintech solutions provider for working capital, trade finance, and insurance, today announced the launch of automated digital distribution technology for trade finance assets. With this launch, banks and asset managers now have a fully digital solution for programmatic, automated origination and distribution of trade finance assets, allowing them to scale, improve returns, and generate costs savings for their trade finance businesses.
Trade finance asset distribution allows banks, asset managers, and other trade finance funders to balance portfolios to meet capital requirements and manage concentration risk, earn returns on assets, and free up liquidity to further support customers. For banks seeking to deploy balance sheet, purchasing trade finance assets is an attractive means of generating new income sources and positive returns.
FIRST FOUNDATION BANK LAUNCHES NEW MOBILE APP WITH MXMOBILE, SIMPLIFYING THE WAY CLIENTS GET FINANCIAL INSIGHTS
MX, the financial data platform and leader in modern connectivity, today announced that First Foundation Bank has gone live on the MXmobile platform for mobile banking, staying true to First Foundation Bank’s digital strategy of delivering modern, engaging client experiences with an emphasis on financial wellness.
Powered by MX’s industry-leading data platform, First Foundation Bank will enhance the way it supports personal banking clients by delivering, through the new MXmobile-powered app, a single secure location to manage and interact with all of the bank’s financial relationships. The new mobile platform, available on the Apple app Store and Google Play as FFB Mobile, will efficiently manage a user’s bank accounts and credit cards offering personalized insights that proactively inform, guide and engage users wherever and whenever the insights are needed.
CETERA BRANCH COMMUNITY POSTS RECORD GROWTH, SPOTLIGHTING BUSINESS-BUILDING SUCCESS FOR FINANCIAL PROFESSIONALS
Cetera today revealed accelerated growth for its branch community in the two years since it acquired the assets of Foresters Financial’s U.S. brokerage and investment advisory business. Since June 2019, assets under management increased 150% and assets under administration increased 36%. In addition, the branch community nearly tripled its advisory accounts (a 195% increase).
“Our growth strategy is driven by our purpose to deliver best-in-class financial advice to as many investors as possible through the Advice-Centric Experience®,” said Jeff Buchheister, Chief Financial Officer at Cetera. “We achieve this by accelerating growth for our network of financial professionals through a proven framework that meets them where they are via a community structure that supports multiple affiliation models. We also bring growth-oriented financial professionals into this framework through a comprehensive acquisition strategy that enables new financial professionals to leverage the benefits of scale, a world-class technology platform and operational efficiency.”
ALLY FINANCIAL CLOSES ACQUISITION OF CREDIT CARD PLATFORM FAIR SQUARE FINANCIAL
Ally Financial Inc. today announced it has closed its acquisition of Fair Square Financial, a digital-first credit card company.
“The addition of Fair Square and its credit card offerings will enhance our suite of consumer products and aligns with our long-term strategy to be the leading full-service digital-bank,” said Ally Chief Executive Officer Jeffrey J. Brown.
Fair Square is a customer-centric, digital-first credit card company generating strong growth and solid credit results since being founded in 2016.
FIRST EAGLE INVESTMENTS TO ACQUIRE NAPIER PARK GLOBAL CAPITAL, EXPANDING ALTERNATIVE CREDIT CAPABILITIES
First Eagle Investments today announced a definitive agreement to acquire Napier Park Global Capital, a leading alternative credit manager with approximately $18.7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, US and European collateralized loan obligations, and real assets. As an autonomous, wholly owned unit of First Eagle Investments, Napier Park will go to market as “Napier Park, a First Eagle Investments Company” and maintain its investment approach, business focus and client service.
SEACOAST ANNOUNCES THE ACQUISITION OF APOLLO BANCSHARES, INC.
Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced today that it has signed a definitive agreement to acquire Apollo Bancshares, Inc., parent company of Apollo Bank based in Miami, FL. The proposed transaction will expand Seacoast’s presence in Miami-Dade County, part of the Miami-Fort Lauderdale-Pompano Beach metropolitan statistical area, Florida’s largest MSA and the 8th largest in the nation.
PAPAYA GLOBAL TO ACQUIRE DIGITAL CROSS-BORDER PAYMENTS SERVICE AZIMO, MAKING PAYMENTS INSTANT AND UNBOUND BY GEOGRAPHY
Papaya Global, the global people management platform for the remote working era, announced today that it has agreed to acquire Azimo, the global digital cross-border payments service, making it possible to pay employees almost instantly regardless of geography and typical payroll limitations.
DIGITALGEN FINANCIAL SERVICES IS DISRUPTING THE INDUSTRY WITH ITS CRYPTO SAVVY FINANCIAL ADVICE
DigitalGen Financial Services is helping clients plan their financial futures while using tools from the world of digital finance. Providing virtual online services, they are filling a gap in the market when it comes to financial advisors and professionals who are knowledgeable about new technologies including cryptocurrency and blockchain. With a focus on the future of digital technology, DigitalGen works with clients to help them become financially literate across many investment methods.
MIZUHO FINANCIAL GROUP ANNOUNCES STRATEGIC COLLABORATION WITH GOOGLE
Mizuho Financial Group, Inc. and Google Cloud have announced a strategic collaboration to accelerate the Group’s digital transformation and retail innovation strategy. “The global spread of COVID-19, along with megatrends such as digitalization, the aging population, and globalization, have led to significant changes in our lifestyles and economies. To deliver on the needs of our customers in this new era, we’re working with Google to enhance our operational capabilities, innovate across our online and mobile channels, and transform our corporate culture.
APPLE ACQUIRES UK FINTECH STARTUP CREDIT KUDOS
Apple is acquiring the UK-based fintech startup Credit Kudos for an undisclosed amount, as Apple typically doesn’t disclose the price of its acquisitions. Credit Kudos last raised £5 million ($6.5 million) in funding back in April 2020. Neither Credit Kudos or Apple could be reached to confirm the deal, which was first reported by the crypto-focused publication The Block, citing three sources close to the deal. The privacy policy link on the Credit Kudos website currently redirects to Apple’s privacy policy.
ELEPHANT INSURANCE PARTNERS WITH SMART CHOICE
Elephant Insurance, a Virginia-based, digital-first auto insurance company, today announced a new partnership with Smart Choice, a network providing independent insurance agents with access to top-rated markets, product training, and sales and marketing support. Elephant’s auto insurance policies will now be offered by Smart Choice agency partners.
CLEARWATER ANALYTICS ANNOUNCES PARTNERSHIP WITH FLYER FINANCIAL TECHNOLOGIES
Clearwater Analytics , a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced a strategic partnership with Flyer Financial Technologies, a cloud-based portfolio management and order management system provider, to help Clearwater’s asset management clients and prospects build a comprehensive front-to-back office platform.