NEWS
Featured News
Trending News
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.
PAYIT INTRODUCES NEW DIGITAL PAYMENT SYSTEM FOR UTILITIES, PROPERTY TAXES WITH CITY OF TORONTO
PayIt, an award-winning provider for digital government solutions, is making it more convenient for Toronto residents to pay bills in one secure location. The newly launched digital solution, MyToronto Pay, provides a new online payment option for property tax and utility bills. In addition to making immediate payments, Torontonians can use the service to schedule future payments, see their amount owed and view transaction history all in one place. The new digital government solution can also offer email receipts and reminders.
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.