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Fintech focus: Mastercard unit, Green Dot sign data access agreement

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Fintech focus: Mastercard unit, Green Dot sign data access agreement

S&P Global Market Intelligence rounds up financial technology companies' recent product launches, partnership announcements and fundraising activity, as well as regulatory developments in the financial technology space. For more fintech news, click here.

Top News

Mastercard Inc. unit Finicity Corp. signed a data access agreement with Green Dot Corp. The Finicity direct API experience will first be available through Green Dot's flagship digital bank GO2bank and will allow customers to link their accounts to third-party apps that use Finicity's secure data network and financial data.

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FTX Trading LTD raised $900 million in a series B funding round that values the cryptocurrency exchange company at $18 billion. The company, which operates FTX.COM, will use the money to expand its global foothold and advance its business growth.

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Investing platform Nvstr Financial LLC rebranded as Tornado. As part of the launch, Tornado unveiled a website and mobile application including new and expanded technology features supported by a $10 million round of seed funding.

Banking and lending

Financial technology firm Centime Inc. and First National Bank of Omaha entered into a strategic partnership to help small and mid-sized businesses gain visibility and control over their cash flows. Under the partnership, the bank will add Centime's new AI-driven Cash Flow Control solution to its online banking services for business clients.

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Black Knight Inc. announced multiple integrations of its leading product and pricing engine, the Optimal Blue PPE, with cloud-based mortgage loan origination system LendingPad. As part of the move, LendingPad now seamlessly leverages the Optimal Blue PPE to enable wholesale, correspondent and retail lenders to generate real-time, compliant pricing scenarios regardless of their business channel.

Additionally, Black Knight announced an AI-powered mortgage solution, Underwriter Assist, which runs on Amazon Web Services Inc. Underwriter Assist improves operational efficiency and productivity by automating many "stare and compare" tasks traditionally involved in underwriting.

Payments

Banking platform application programming interface developer Treasury Prime Inc. unveiled customizable card controls including the ability for financial technology and other customers to put themselves in the authorization loop for approving their users' transactions in real-time.

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JPMorgan Chase & Co. business Chase launched a new type of credit card called Slate Edge, designed to help customers reach their financial goals faster. The card has been created with an APR rate built to decrease annually in response to on-time payments and offers a 0% intro APR offer for the first year, among other things.

Trading and investing

Investment platform Titan Global Capital Management USA LLC raised $58M in series B fundraising led by Andreessen Horowitz LLC. The funds will be used to make significant strides in building Titan's underlying platform and suite of investment products, alongside scaling core functional teams.

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Envestnet | MoneyGuide and StratiFi announced a new integration partnership to help improve their clients' understanding of risk.

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BlackStar Enterprise Group Inc. finalized a production-ready user interface for the proprietary software of the BlackStar Digital Trading Platform. The solution has been designed to trade registered shares of the BlackStar Enterprise Group. The firm intends to use the platform as proof of concept in the short term.

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Financial technology firm SIMON Markets LLC received $100 million in its series B round of funding led by new investor WestCap Management LLC. The funding round will enable the firm to advance its core offering across structured investments and annuities while driving additional growth initiatives centred on the product and geographic expansion.

Insurance and healthcare

Claims investigation and adjustment services provider CCG IQ, Guidewire PartnerConnect Solution partner, and Guidewire Software Inc. announced that CCG IQ's new Ready for Guidewire validated add-on is now available to ClaimCenter users in the Guidewire Marketplace.

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