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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.
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.
BROWN & BROWN, INC. ENTERS INTO AGREEMENT TO ACQUIRE GLOBAL RISK PARTNERS LIMITED
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., Searchlight and the management ownership team of Global Risk Partners Limited, today announced that the parties have entered into an agreement to acquire the GRP insurance operations. The transaction is expected to close in the third quarter of 2022, subject to certain closing conditions, including the receipt of required regulatory approvals for the Acquisition (including the approval of the Financial Conduct Authority of the United Kingdom).
WESTERN UNION COMPLETES FIRST CLOSING OF ITS BUSINESS SOLUTIONS DIVESTITURE
The Western Union Company, a global leader in cross-border, cross-currency money movement and payments, announced the Company has completed the first closing of the divestiture of its Business Solutions segment to a consortium of Goldfinch Partners, LLC (“Goldfinch”) and The Baupost Group, LLC (“Baupost”) for approximately $910 million in cash.
ALVIERE LAUNCHES AUTOMOTIVE EMBEDDED FINANCE PLATFORM
Alviere, a leading global embedded finance technology platform enabling any brand to offer a complete array of financial products and services to customers, fans, and employees, recently announced that AutoPay Plus, an automated loan payment service, offers a unique value proposition to its dealership partners across the country. AutoPay Plus offers car buyers and other consumers flexible payment options matched to their paychecks, leading to better budgeting, preventing late fees, and accelerating the loan payoff.
MOBI724 TO ACQUIRE LEADING B2B MARKETPLACE TO ACCELERATE GROWTH IN LATIN AMERICA
Accretive Combination with Avenida+ Will Allow Provision of End-To-End Solutions to Financial Institutions Significantly Enhances Revenue and Enables near Term Positive Net Cash Flow Further establishes Mobi724 as a leading fintech in Latin America and leverages its first-mover advantage in the fast-growing payment card market. Will accelerate Mobi724’s expansion into Latin America with an enhanced geographic presence, additional products and services, new revenue streams and numerous cross-selling opportunities.
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.