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Fintech focus: Wells Fargo to enhance retail banking technology, Visa to allow PayPal acceptance at retail locations


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Fintech focus: Wells Fargo to enhance retail banking technology, Visa to allow PayPal acceptance at retail locations

Several players withinthe financial technology arena introduced new products and entered into variousagreements in recent days. Please send news tips and feedback to other recent financial technology news, click here.

Banking and lending

Bank LeumiUSA replaced its legacy technology platform with 's banking and payments solutions, including core processing,branch, digital and mobile banking, compliance, risk and back-office systems.

Ellie MaeInc. upgraded Encompass, its management solution, which nowfeatures new integrations with Freddie Mac tools and enhancements to the Total QualityLoan program.

Fifth ThirdBancorp joined Allpoint Network, a surcharge-free ATM network,with 55,000 ATMs across the U.S. and beyond. Allpoint Network is a unit ofCardtronics plc.

Through an agreement between Cardtronics and , the bank willbe provided with branding rights and surcharge-free access atnearly 55 Speedway and Rite Aid ATMs in upstate New York. Canandaigua NationalBank is a unit of CanandaiguaNational Corp.

Black KnightFinancial Services Inc. upgraded its LoanSphere Empower loan origination systemto provide expanded support for home equity loans and home equity lines ofcredit.

Wells Fargo& Co. and NCRCorp. willdevelop a team that will focus on research and development in ATMand retail banking customer experience.


First DataCorp. collaborated with Bypass to offer a payments solutionfor sports arenas and concert venues. Bypass is a provider of enterprisepoint-of-sale systems.

MasterPass by MasterCard Inc. is now a payment option for customers of Avis BudgetGroup Inc.

VisaInc. cardholders in Hong Kong will be able to use Apple Pay at selected merchants.

Global PaymentsInc. now offers merchants in Hong Kong the ability to acceptcredit and debit card payments via Apple Pay.

Western Union Business Solutions, Geoswift and UnionPayInternational launcheda joint tuition payment promotion for Chinese students studying in the U.S.,Canada, Australia and New Zealand. The promotion offers eligible UnionPaycardholders a complimentary car pick-up service of up to $100 for any tuitionpayment of equal to or greater than $4,000. The promotion is effectiveimmediately and ends Sept. 30, 2016. Western Union Business Solutions is a unitof Western Union Co.

CachetFinancial Solutions Inc.'s Select Mobile Money SaaS solutionwill be integratedwith the payment processing platform of Rapid Financial Solutions, a prepaidcard and payment solutions provider.

WEXInc. reached a new virtual payments agreement with insurancetechnology provider Aquarium Software.

The California Bankers Association as its sole endorsedelectronic funds transfer processing partner.

Under a partnership, PayPal Holdings Inc. will join Visa's digital enablement program to boostpoint of sale acceptance.

Insurance and healthcare

BlueCrossBlueShield of Tennessee Inc. and NextHealth Technologies a multiyear agreement forincreased consumer engagement and medical cost reduction across commercial andgovernment lines of business. NextHealth Technologies is a cloud-basedprescriptive analytics and consumer engagement platform company.

NationalFarmers Union Mutual Insurance Society Ltd. coreoperations, data and analytics, and digital engagement products.

MedidataSolutions Inc. is workingwith Memorial Sloan Kettering Cancer Center to expand the use of mobile healthtechnology in oncology treatment.

Distance learning firm Capella Education Co. 's BENEFITFOCUSMarketplace to support benefits administration and enrollment for its more than1,200 employees.

Direct LineInsurance Group Plc is among Europe-based companies that Workday Recruitingfrom Workday Inc.

Communications,trading and data management

ThomsonReuters Corp. announced that energy and commodities traders can nowexecute futures and options orders directly from Thomson Reuters Eikon, asolution for real-time and historical data for financial markets.

CoreLogicInc. added access to foreclosure and mortgage information inits online University Data Portal, which enables faculty, graduate andundergraduate students, to run queries, extract residential and commercialproperty characteristics and download reports for qualified academic researchat preferred rates.

S&P Dow Jones Indices unveiled the S&P Canada All Bond Index Family forCanadian investment professionals to have a way to track the domesticfixed-income markets. The data underlying the index family is supplied byThomson Reuters.

INTL FCStoneInc., European power company CEZ and European energy brokersGriffin, 42FS and Marex Spectron decided on Thomson Reuters Eikon Messenger as one oftheir instant messaging networks.

Tax and IT

The National Directory of Registered Tax Return Preparers& Professionals opted for fintech company to provide its tax professionals,accountants, CPAs and their small business clients with access to fundingthrough its aggregation marketplace via a custom referral process.

NetSolTechnologies Inc. concluded the value-added tax handling capabilityenhancements to its system implementations for six auto captive clientsoperating in China.

Through a collaboration, IBM its Cloud Managed Servicesfor z Systems and associated mainframe hardware, software, monitoring andgovernance support to ComputerSciences Corp. clients who are moving to the cloud.

TravelSky migrated to Unisys Corp.'s Unisys AirCore passenger system toenhance passenger sales and service applications for its airline clients.

Transportationand advertising

VeriFoneSystems Inc. rolledout Curb, a national ride-hailing app for taxis, in New York;Philadelphia; Miami-Ft. Lauderdale; San Jose, Calif.; and Washington, D.C. area.

Dun &Bradstreet Corp. teamed up with the Trustworthy Accountability Group tohelp vet and verify the identities of digital advertising buyers, sellers andintermediary companies applying to participate in the TAG Registry.

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