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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.
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.”
3S MONEY PARTNERS WITH CLEARBANK TO BOOST INTERNATIONAL TRADE
3S Money, the UK bank challenger, has partnered with ClearBank, the cloud-based clearing bank, to offer multicurrency accounts to its retail and corporate clients for the first time, to support their international growth and that of their end users. The partnership will enable 3S Money’s corporate clients to hold multiple currencies in their accounts and make faster, more flexible payments in USD, EUR, GBP and EEA currencies via ClearBank’s API. This will enable them to launch local account capabilities, in order to scale faster into new markets, save time and increase their revenue. The partnership will also enable 3S Money’s clients to enable USD transactions, entering the American market for the first time.
CCC ACQUIRES INSURTECH SAFEKEEP
CCC Intelligent Solutions (CCC), a leading SaaS platform for the P&C insurance economy, announces it has acquired Safekeep, an AI leader in subrogation claims management technology. Safekeep is an enterprise platform that leverages AI to speed and improve subrogation management across auto, property, workers’ comp, and other insurance lines of business. The acquisition of Safekeep is a natural next step in CCC’s vision to deliver end-to-end straight-through claims processing.
DNA PAYMENTS ACQUIRES UK CARD SPECIALIST CARD CUTTERS
Payments provider DNA Payments has acquired Card Cutters, a card acceptance specialist, as part of its strategy to grow in the U.K., the company announced in a news release Wednesday Based in the U.K. and Ireland, Card Cutters provides merchant services and payment technologies to small, independent retailers and larger multi-outlet businesses. London-based DNA says the acquisition will also include Card Cutters’ Global Card Solutions, which gives merchants a range of card machine technology and merchant support, as well as Card Cutters’ subsidiary in Ireland.
HONEY EMBEDS INSURANCE INTO MORTGAGE APPLICATIONS WITH FINSURE
Insurtech Honey Insurance and mortgage aggregator Finsure Group have partnered to design a digitalised process that they say embeds home insurance into mortgage applications. Finsure’s nationwide network of more than 2000 brokers will offer clients insurance that is integrated into its Infynity platform. “Customers of Finsure brokers can now get their home insurance at the same time they get their mortgage in an embedded journey,” Finsure CEO John Kolenda said. “Every Finsure broker will be able to offer their clients Honey Insurance products after a short online education program.”
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.