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Fintech Focus: Wells Fargo offers gig worker app, Singapore has Western Union

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Fintech Focus: Wells Fargo offers gig worker app, Singapore has Western Union

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

Payment solutions provider Payment Data Systems Inc. entered into a strategic partnership with Voyager Digital Holdings LLC, a New York-based crypto-asset brokerage firm.

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Western Union Co. launched its mobile app in Singapore. Customers can remit money through the Western Union app by card or through their bank accounts and also in-person at retail outlets. It earlier activated its app in in Hong Kong and Malaysia.

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American PowerNet, a power supply company, is using Signature Bank's blockchain based digital payments platform Signet for transactions with its renewable energy customers. This is the first time that the energy segment is adopting a blockchain-based platform to conduct transactions involving the transfer of and payment for power.

Banking and lending

Austrian bank Raiffeisen Bank International AG will now use American predictive data analytics company Fair Isaac Corp.'s automated accounts receivable management system called FICO Debt Manager. The solution helps companies control costs, boost revenue and stay compliant while collecting and recovering debt.

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San Francisco-based bank Wells Fargo & Co. has rolled out a new banking app called Greenhouse for gig workers. The app lets users maintain two balances; one for payment of bills and the other for spending.

The app is initially available in California, Texas, Florida, Washington, Oregon, Pennsylvania and New York with plans to roll out the app nationwide soon.

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Midwestern credit unions, Ideal Credit Union, TopLine FCU and Dakota West CU have engaged Fiserv Inc.'s technology called DNA to streamline their workflows and eliminate time-consuming manual processes. DNA will also enable the credit unions to more effectively service loans and will assist in customer relationship management and marketing.

Data and information management

Broadridge Financial Solutions Inc. and cloud platform producer Workiva Inc. have entered into a strategic partnership. The two companies will work together to facilitate digital delivery of regulatory and shareholder communications and distribution with the Workiva Wdesk cloud-based platform.

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Rochester, N.Y.-based software-as-a-service technology company Paychex Inc. added a new integration feature to Paychex General Ledger Service. The feature allows Paychex's online ledger service to integrate data with QuickBooks Online, an accounting software developed by Intuit Inc.

Trading and investing

Coinbase Inc. launched a new invite-only service called Coinbase Earn, which lets users earn small bits of cryptocurrencies while consuming education content. The digital asset ZRX could be earned by completing educational tasks like short video lessons and quizzes.

Marketing and analytics

Fidelity National Information Services Inc. has teamed up with Excentus, a loyalty marketing and technology firm recently acquired by PDI Software to enable customers to redeem rewards points in real-time directly at certain select Shell-branded fuel pumps.