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Fintech Focus: Diebold, Mastercard piloting cardless ATM services

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Fintech Focus: Diebold, Mastercard piloting cardless ATM services

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

Global payments provider Paysafe Group PLC announced the global launch of its latest alternative payment solution, Paysafecash, which offers online shoppers an easy and safe online cash payment option.

WEX Inc. reached an agreement with Equilon Enterprises LLC doing business as Shell Oil Products US and Shell Canada Products, a branded commercial fleet fuel card provider, to issue and operate Shell's full portfolio of commercial fleet cards in the U.S. and Canada. Shell and WEX anticipate launching their first commercial fleet product Aug. 1.

Pursuant to a merchant and reseller agreement, NetCents Technology Inc., an online payment processing platform, will be processing all cryptocurrency transactions for HubNet Media's four main online properties and their network of clients.

Wirecard, a provider of digital financial technology, entered into a partnership agreement with Visa Inc. to develop new solutions in the field of digital financial technology.

NXP Semiconductors NV in collaboration with Mastercard Inc. and Visa announced the launch of its new mWallet 2GO, a white label wallet service developed on the NXP Secure Service 2GO Platform, to add mobile payment capability to any wearable, mobile or internet of things-enabled device.

Banking and lending

Diebold Nixdorf Inc. and Mastercard partnered to pilot two new ATM products: Mastercard Cash Pick-Up and Cardless ATM powered by Mastercard. Mastercard Cash Pick-Up allows banks to deliver cash more quickly and securely to any authenticated consumer through enabled ATMs, without the use of a card. Cardless ATM powered by Mastercard allows account holders to withdraw cash from the nearest ATM using their mobile banking app.

Pegasystems Inc. announced the availability of Pega Blockchain Innovation Kit, which enables banks to test the Ethereum blockchain technology in Pega Know Your Customer and Pega Client Lifecycle Management applications.

OFG Bancorp's Oriental Bank launched a new digital platform for small and medium-sized Puerto Rico businesses to apply for and manage commercial credits. The Oriental SmallBiz platform was created for businesses with $15 million or less in gross revenue that need short- and long-term commercial loans, SBA guaranteed loans, loans for property acquisition, credit lines and credit cards.

Equifax Inc. is offering The Work Number Indicator, an instant alert of whether an employment and income record exists on The Work Number database, a repository of payroll data managed by Equifax.

Santander Bank NA extended its partnership with Cardtronics PLC to make more than 200 Santander-branded ATMs available at Massachusetts-based Market Basket grocery stores and additional CVS Pharmacy locations throughout the Northeast.

VyStar Credit Union became the first Fiserv Inc. client to implement an improved mobile banking platform that includes new alerting and card control functionality for its debit card users.

Germany's Degussa Bank AG outsourced the management of the cash supply chain for its 220 ATMs to Diebold Nixdorf. As part of Diebold Nixdorf AllConnect Services, the offering will provide end-to-end cash management that covers everything from the provisioning and operation of the ATMs, to cash supply and implementation of banking requirements such as account reconciliation

Insurance and healthcare

Omnitracs LLC, a provider of software-as-a-service fleet management solutions to the transportation industry, announced a strategic alliance with Verisk Analytics Inc. to provide a new risk management solution to its customers.

A new startup selected Majesco's core suite for P&C platform on the Majesco CloudInsurer platform to support their market launch and growth strategies in a software-as-a-service model.

Economical Insurance Group launched Vyne, a broker platform built in collaboration with major insurance and technology providers. Vyne includes a rating engine, hosted quoting service, and broker management system integration.

American National Insurance Co. selected SS&C Technologies Holdings Inc.'s insurance investment accounting system, CAMRA, for investment accounting, reconciliation automation, corporate action management, performance measurement and attribution and reporting.

An arrangement between TransUnion and MIB Inc. will enable the latter's 400 U.S. life insurance company members to obtain customer identity verification services through a new MIB Checking Service integration with TransUnion's Identity Verification solution.

Amica Mutual Insurance Co. is deploying Salesforce and Guidewire Software Inc. apps to get a 360-degree view of policyholders and for an improved customer engagement experience.

Benefitfocus Inc., a cloud-based benefits management platform and services provider, announced the availability of the voluntary benefits of BrightDime, CommonBond, GoodRx, Gradvisor and Kashable to its BenefitsPlace platform.

IBeat, a health technology company, will use two new investments from SCOR Life & Health Ventures and Transamerica Ventures LLC to advance product marketing and expansion for its cardiac monitoring smartwatch, Heart Watch.

Express Scripts Holding Co. said its physician-minded portfolio of programs and digital tools will help prescribers make the best therapy decisions for patients at the point of care.

Willis Towers Watson PLC delivered its first blockchain transaction for marine insurance along with partners EY, A.P. Møller-Maersk, Willis Towers Watson, XL Catlin, MS Amlin, ACORD and Microsoft.

Marketing and analytics

TriNet Group Inc., a provider of HR services, introduced TriNet Professional Services, a new industry-specific product designed to address the HR needs of professional services firms, such as consulting, advertising and other expertise-driven businesses.

Pegasystems announced Self-Optimizing Campaigns, a new Artificial Intelligence-powered Pega Marketing capability that reduces marketers' dependence on traditional segment-based campaigns and transitions them toward real-time, one-to-one engagements. Pegasystems also announced the launch of Pega Infinity, its next-generation digital transformation software suite.

ExlService Holdings Inc. announced the Connected Intelligence Partners Program to expand its technology and innovation ecosystem to accelerate business outcomes from digital transformation for clients.

Trading and investing

BBVA Compass Bancshares Inc. will adopt SEI Investments Co.'s SEI Wealth Platform, a fully integrated, single-infrastructure wealth management solution, to support its digital strategy.

Fifth Third Securities Inc. expanded its digital wealth and asset planning tools with the launch of OptiFiSM, an automated investment advisory platform. With OptiFi, investors have easy access to an automated investment service from their desktop or tablet.

INTL FCStone Inc.'s London-based Global Payments division introduced FXePrice, a proprietary web-based platform for foreign exchange trading. The platform will allow Global Payments' global network of more than 300 correspondent banks to feed the company with local currency live prices electronically.

The U.S. Patent and Trademark Office issued patents for two of Northern Trust Corp.'s innovations in connection with blockchain technology.

Depository Trust & Clearing Corp. partnered with EquiLend, Trax, IHS Markit Ltd. and Pirum to advance securities financing transaction reporting processes.

Data and information management

Mitek Systems Inc., a provider of digital identity verification software solutions, has partnered with Signicat AS, a digital identity provider, to improve the digital customer on-boarding process for Europe's financial services companies and help customers comply with a number of regulations including PSD2, AMLD5 and eIDAS.

ACTIV Financial, a provider of financial market data with more than 220 exchanges, agreed to make its content available to startups selected by FinTech Sandbox by being its data partner. FinTech Sandbox is a Boston-based nonprofit that promotes financial technology innovation globally by providing free access to critical data and resources to financial technology entrepreneurs and startups.

Workiva Inc., a provider of data collaboration, reporting and compliance solutions, expanded its Wdesk platform with Wdata that combines new data preparation capabilities with existing connectors and application programming interfaces.

Gopher Protocol Inc., a company specializing in the creation of internet of things- and artificial intelligence-enabled mobile technologies, is the exclusive licensee of a patent for a key mobile database management and sharing system.

Administration and security

Mastercard introduced its AI Express program, which aims to help companies swiftly deploy artificial intelligence solutions to address key business priorities like anti-money laundering, fraud risk management, cybersecurity, credit risk prediction and operational efficiencies.

Symantec Corp., a cybersecurity company, announced resources and expertise available to companies still working toward complying with the General Data Protection Rule, or GDPR, which took effect May 25.

Cornerstone OnDemand, a provider of cloud-based learning and human capital management software, expanded its strategic relationship with IBM that will enable Cornerstone clients to access IBM's talent management consulting services.

DXC Technology Co. launched DXC Application Service Automation, an offering powered by DXC Bionix that enables organizations to manage their applications up to 40% more efficiently compared to traditional methods, and thereby create savings.

ADP LLC and Microsoft are working to bring together ADP Workforce Now, a human capital management platform, with Microsoft Dynamics 365 Business Central, an all-in-one business management solution for managing finances, operations, sales and customer service.

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