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Fintech Focus: First Data, Mastercard team up to offer digital disbursements

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

Gopher Protocol Inc., a company specializing in the creation of internet of things, or IoT, and Artificial Intelligence-enabled mobile technologies, launched a blockchain division. The division will use blockchain solutions to manage multiple lines of business and operate them with distributed-ledger blockchain as the underlying technology.

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Net Element Inc. announced the extension of its Netevia platform to include a solution for enabling secure vendor payments.

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First Data Corp. and Mastercard Inc. announced a partnership whereby First Data will provide a digital disbursement platform to Mastercard's business customers. First Data's Disburse-to-Debit solution will be available to Mastercard customers that leverage MoneySend to push real-time payments to debit card holders.

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FleetCor Technologies Inc., a provider of commercial payment solutions, entered into a contract with convenience store chain Casey's General Stores Inc., whereby FLEETCOR will manage the private-label corporate fuel card program for all Casey's retail locations nationwide.

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Under a strategic partnership, JetPay Corp.'s payment processing platform has been integrated into Personify's Personify360 service, which will allow Personify clients to deliver omnichannel payments safely and securely online and through mobile devices.

Banking and lending

PenFed Credit Union has selected Cardtronics PLC as a worldwide outsourcing partner for the federal credit union's branch and off-premise ATMs.

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CGI Group Inc. launched CGI Open Finance, a complete solution for open banking, enabling the integration of traditional banks and their product-centric applications with fintech companies through an application programming interface and orchestration layer.

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Under a collaboration, CPI Card Group Inc.'s Card@Once solution will be integrated with Salt Lake City-based core processor FLEX's data processing platform allowing credit unions to print and provide EMV-enabled cards to branch members onsite.

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Visa Canada Corp. and Finn AI, an artificial intelligence-powered virtual assistant built for personal banking and finance, entered into a strategic collaboration to enable new capabilities in conversational banking chatbots and artificial intelligence, powered by the Visa Developer Platform.

Insurance and healthcare

Saint-Christophe Assurances, a French mutual insurer, deployed Guidewire Software Inc.'s Guidewire ClaimCenter as its new claims management system.

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Neptune Flood Inc. opened an online flood insurance store, Neptuneflood.com, which allows homeowners in 21 states buy insurance in just a few minutes.

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XL Catlin's North America Construction insurance business has partnered with construction tech startup TradeTapp to provide subcontractor default insurance clients with access to the platform to make informed subcontractor hiring decisions. XL Catlin is the global brand used by XL Group Ltd. insurance and reinsurance companies.

Marketing and analytics

Luxoft Holding Inc. partnered with Pegasystems Inc. to create a cloud-based mobility services platform for carmakers.

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EVERTEC Inc., a full-service transaction processing business in Latin America, launched a new function on its ATH Móvil Business solution that will help nonprofit organizations accept donations from over one million ATH Móvil users in Puerto Rico.


Trading and investing

Nasdaq Inc. is establishing connectivity to three data centers in Hong Kong to increase its service to the Asia-Pacific region through a Nasdaq Point of Presence.

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E*TRADE Financial Corporate Services Inc. added Aon's PeerTracker to the E*TRADE stock plan administration platform Equity Edge Online and stock plan participant pages on etrade.com. PeerTracker enables participants to monitor their performance awards and benchmark them against similar employers who administer stock plans.

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Northern Trust Hedge Fund Services, a provider of wealth management, asset servicing, asset management and banking, agreed to use Donnelley Financial Solutions Inc.'s ArcReporting software solution to automate the creation, review and output of financial statements for clients, including alternative investment managers and large institutional investors. Donnelley is a provider of risk and compliance solutions.

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ProEquities Inc., an independent financial advisory and broker/dealer firm, launched a cybersecurity solutions platform in collaboration with Entreda, a cybersecurity risk mitigation and compliance software firm. The new platform features cyber protection for ProEquities financial advisers.

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Indian stock exchange BSE Ltd. and U.S.-based insurance exchange Ebix Inc. plans to launch an insurance distribution exchange platform by the end of 2018, the Press Trust of India reported, citing Ashishkumar Chauhan, managing director and CEO of BSE. The platform will be managed by a joint venture to be called BSE-Ebix Insurance Broking.

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Australian alternative asset manager Global Merces selected SS&C Technologies Holdings Inc.'s investment accounting, asset servicing and mutual fund platforms, HiPortfolio and HiTrust.

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Thomson Reuters Corp., through its partnership with MarketPsych Data LLC, expanded its sentiment data offerings to track the top 100 cryptocurrencies. The new MarketPsych Indices package uses machine learning and natural language processing to quantify key themes and sentiments likely to influence price trends of the cryptocurrencies.


Administration and security

Vantiv, now Worldpay Inc., and IDEMIA led the North American pilot of the MOTION CODE debit card, a dynamic payment card that aims to help reduce a financial institution's cost burden of managing card-not-present fraud.

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Analytic software firm Fair Isaac Corp. was awarded seven new patents related to fraud, artificial intelligence and advanced analytics.

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Fortinet Inc., a provider of automated and integrated cybersecurity solutions, has signed a threat information sharing agreement with INTERPOL.

More fintech news

In UK, open banking paves the way for overseas players