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Fintech Focus: BofA's virtual assistant; PayPal, Google extend partnership

Several players within the financial technology arena introduced new products and entered into various agreements in recent days. Please send news tips and feedback to news@snl.com. For other recent financial technology news, click here.

Payments

MoneyOnMobile Inc. launched a new biometric-based ATM cash-out solution. The company activated 3,000 units in the initial phase and expects another 3,000 activations in the coming months.

Bottomline Technologies (de) Inc. announced a new voice-assisted Paymode-X app that will help businesses to understand and access information on key payment transactions. The Paymode-X app is an extension of the Paymode-X B2B electronic payment network.

Net Element Inc. unit Unified Payments launched an integrated payment solution for North America's $845 billion events industry. The solution improves existing payment acceptance services with the integration of point-of-sale systems, self-order kiosks, chargeback protection and multichannel payment acceptance.

BNY Mellon released request-for-payment messaging capabilities on The Clearing House's Real-Time Payments (RTP) network. The network allows consumers and businesses to send and receive funds and messages in real time directly from their bank accounts. BNY Mellon is the corporate brand of Bank of New York Mellon Corp.

Pacific Mercantile Bancorp unit Pacific Mercantile Bank introduced eConnect Pay, an end-to-end accounts payable and payments solution for midsize businesses. EConnect Pay automates invoice and payment processing by integrating with a company's accounting system while processing check, automated clearinghouse and credit card payments directly with Pacific Mercantile Bank.

PayPal Holdings Inc. is expanding its partnership with Google Inc. so that consumers can pay using PayPal across Google's suite of products.


Banking and lending

Pursuant to a partnership, KeyBank started offering Zelle in the bank's mobile app and online banking experience, making it easy for clients to manage money, including making personal payments. Zelle is a U.S.-based digital payments network that includes banks and credit unions of all sizes. Zelle allows for funds to be sent from one bank account to another generally within minutes when both parties are already registered and by using only a recipient's email address or U.S. mobile number.

Bank of America Corp. rolled out an artificial intelligence-driven virtual assistant, Erica, to its 25 million mobile clients.

Total System Services Inc. extended its agreement with Allied Irish Bank to continue processing the bank's credit and debit card portfolios. Additionally, Total System Services said it renewed its agreement with Nationwide Building Society, a building society and a provider of mortgages in the U.K. The processing agreement includes Nationwide's consumer credit card portfolio, as well as support of account servicing.

Vienna, Austria-based Addiko Bank has deployed two new digital banking applications on Appian Corp.'s low code application platform. The applications cover lending and trade finance processes across Addiko's corporate and small-medium enterprise customers.

Under a strategic agreement, First Data Corp.will become the primary provider of technology solutions for Navient Corp.'s federal and private education loans. As a part of the agreement, First Data will acquire Navient's student loan technology platform.

Commerce Bancshares Inc. has signed a multiyear agreement with SS&C Technologies Holdings Inc.'s Primatics' integrated credit and risk management platform, EVOLV, to meet the bank's current and future reserving needs, and to automate their reserving processes and credit risk analytics within a controlled environment.

Trelix, a provider of licensed fulfillment, quality control and other due diligence products and services across the loan origination and securitization lifecycle, launched its closing services solution that helps mortgage lenders efficiently execute and settle their loans. Trelix is part of the Altisource Portfolio Solutions SA family of businesses.

Autotrader and Kelley Blue Book, both Cox Automotive companies, partnered with LendingTree Inc. to help new- and used-vehicle shoppers to research, shop for and secure financing on a vehicle.

Insurance and healthcare

Malaysian insurer Gibraltar BSN Life Bhd. has selected Majesco's distribution management and digital solutions to transform its distribution management operation.

CoreLogic Inc. announced the availability of two products that assess nonweather-related water and fire risk.

The Memorial Sloan Kettering Cancer Center is using Medidata Solutions' Rave Omics with Biomarker Discovery for pancreatic cancer research to integrate clinical, genomic and proteomic data. The center will use Medidata's eClinical Platform, Medidata Clinical Cloud.

Allscripts Healthcare Solutions Inc.'s Sunrise solution will now power The Dudley Group NHS Foundation Trust's health information system. The Sunrise platform provides administrative, clinical, primary and social care data-sharing solutions across the Trust and its health economy stakeholders. Additionally, Allscripts partnered with Singapore's public healthcare group, SingHealth, to implement iPro Anesthesia across the group. IPro Anesthesia is an anesthesia information management solution platform.

Allstate Insurance Co. has deployed Amelia, an artificial intelligence platform created by New York-based technology company IPsoft, to support its call center teams countrywide.

UPS Healthcare launched a new field inventory technology to help ensure the timely delivery of surgical kits and implantable medical devices to patients. The integrated solution is a collaboration between UPS and WebOps, a medical device logistics and analytics technology provider, and Baxter Planning, an inventory planning and optimization solutions provider. UPS provides global supply chain solutions to pharmaceutical, biopharma and medical device companies.

Trading and investing

VectorVest Inc., a stock analysis and portfolio management system, introduced TRADENOW for its mobile app. TRADENOW, available on Apple iOS devices, links trading functionality, including alerts, to mobile devices for rapid execution, giving VectorVest clients easy access to VectorVest analysis, portfolio holdings and mobile direct trading.

Morningstar Inc. launched Investor Pulse, a business intelligence tool to help asset managers predict likely future outcomes on investment flows.

The correspondent clearing division of INTL FCStone Financial Inc. selected Mediant as their new provider of investor communications technology and services for the INTL FCStone Inc. unit's base of broker/dealers, registered investment advisers and institutional and retail investors utilizing its custody and clearing services.

IHS Markit Ltd. expanded its MarkitSERV Integrated Reporting solution to CME Group Inc.'s trade repositories in Australia and Europe.

S&P Global Platts, an independent provider of information and benchmark prices for the commodities and energy markets, said it started producing the weekly Lithium Carbonate CIF North Asia price assessment May 4. S&P Global Platts is a division of S&P Global Inc.

Thomson Reuters Corp. expanded the investment research marketplace solution on its financial desktop platform, Eikon, with the addition of sell-side research from Deutsche Bank, Kepler Cheuvreux and European Securities Network. Eikon enables the investment community to purchase, manage and evaluate research consumption in an MiFID-II compliant manner.

Data and information management

Argus Information & Advisory Services, a Verisk Analytics Inc. business, launched its cloud-based regulatory reporting solution in the Australian market that addresses the country's recent Economic and Financial Statistics reform. The cloud-based offering addresses the recent Economic and Financial Statistics modernization.

Workiva Inc. unveiled a new application programming interface between the Wdesk platform and Host Analytics' enterprise performance management software. The integration enables Host Analytics users to upload their detailed data sets and full reports directly to Wdesk and thereby eliminate manual processes, save time and improve accuracy. In addition, Workiva signed an original equipment manufacturer agreement with SAP under which Workiva will provide first-party integration with the Wdesk platform using the SAP Cloud Platform Integration service.

Upland Software Inc., a provider of cloud-based enterprise work management software, announced the latest release of AccuRoute, its all-in-one software platform for enterprise-class secure capture and fax that automates document-driven workflows and streamlines business processes. The release features the integration of cloud fax capabilities and technology provided by Upland's acquisition of InterFAX, among other things.

Gopher Protocol Inc. is developing a new web interface for Avant!, its artificial intelligence platform.

Administration and security

ACI Worldwide Inc., a global provider of real-time electronic payment and banking solutions, and i-Sight, a web-based investigative case management software provider, have partnered to deliver ACI Case Management, a new software that is part of ACI's UP Payments Risk Management solution suite that supports both on-premise and cloud deployments. ACI Case Management ensures organizations will comply with strict financial regulations for investigating and reporting suspicious activity and financial crimes.

ON2IT B.V., a European pure-play managed detection and response service provider, unveiled its Zero Trust SOC App for the Palo Alto Networks Application Framework. The app offers customers an automated alternative for an in-house security operations center, enabling organizations to execute an effective Zero Trust cybersecurity strategy.

Fortinet Inc. announced its new Fabric Connectors, which automate operational capabilities in multivendor environments through open application programming interfaces integration with Fabric-Ready alliance partner technologies.

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