trending Market Intelligence /marketintelligence/en/news-insights/trending/nakcxwre40gw43cvjuwgja2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fintech Focus: UnionPay prepaid cards come to US; Citi eyes deposits with app

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Fintech Focus: UnionPay prepaid cards come to US; Citi eyes deposits with app

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

UnionPay International Co. Ltd. announced the availability of its prepaid cards in the U.S., which are issued by Global Bank and marketed by New York-based financial services technology company ECARD.

______________________________

Pursuant to an agreement, RMA Canada, a retailer member rewards company and a unit of MB Enterprises, will deploy Fintech Select Ltd.'s Cryptocurrency Point-of-Sale service across all MB Enterprises locations in Canada and the U.S. through the MB Enterprises in-house sales representative group. MB Enterprises will also deploy its merchant acquiring services across Fintech Select's locations.

______________________________

MoneyGram International Inc. and Post Office Ltd. extended their agreement to provide money transfer services inside thousands of U.K. Post Office locations through 2021. MoneyGram and U.K. Post Office have been partners for more than two decades.

______________________________

Jack Henry & Associates Inc.'s JHA Payment Solutions group announced that 66 financial institutions have migrated to JHA Card Processing Solutions, its full-service and in-house transaction processing platform. The platform offers card tools for fraud mitigation, digital payments, plastics manufacturing and personalization, loyalty programs and data analytics.

______________________________

Total System Services Inc. unit Cayan, a technology company focused on innovations in payments, is integrating GMO GlobalSign's cloud-based Public Key Infrastructure service to improve ease-of-use and reduce the support costs of its Genius payment processing platform. GlobalSign is a provider of identity and security solutions for the internet of things.

______________________________

ChineseInvestors.COM Inc. plans to launch its own network of bitcoin ATMs in California and eventually expand it to Chinese-speaking audiences across the U.S.

______________________________

Visa Inc. launched Visa Loyalty Solutions, an omnichannel digital points redemption platform available to all issuing banks in Latin America and the Caribbean and offering consumers several redemption options.

______________________________

Mastercard Inc. partnered with Jacksonville-based Florida Capital Bank NA to facilitate near-real-time disbursements of funds to all branded debit cards in the U.S. by integrating Mastercard Send.

______________________________

Verifone Systems Inc. partnered with Bluefin, a global payment security platform, to provide Bluefin's PCI-validated Point-to-Point Encryption security solution to merchants using either Verifone's POINT or Retail Transaction Switch solutions.

______________________________

ACI Worldwide Inc., a provider of real-time electronic payment and banking solutions, entered into a non-exclusive global agreement with PAX Global Technology Ltd., a provider of secure electronic payment terminal solutions, to offer additional payment terminal options for merchants worldwide.

______________________________

CPI Card Group Inc. collaborated with Commercial Business Systems, a provider of software and IT services for credit unions, to integrate the latter's CAMS-ii credit union accounting and management system and CPI's Card@Once solution to streamline instant issuance of EMV-enabled cards.

______________________________

India-based e-commerce payment system and digital wallet company Paytm E-Commerce Pvt. Ltd. partnered with Ebix Inc.'s Forex unit, CentrumDirect, to offer money exchange services to more than 200 million Paytm users.

______________________________

Uber and PayPal Holdings Inc.-owned peer-to-peer payment platform Venmo LLC are partnering to deliver a new payment experience for Uber and Uber Eats.

Banking and lending

In a bid to grow its deposits, Citigroup Inc. is planning to launch a new app in the third quarter that it hopes will attract more deposits without adding more branches, Reuters reported. Elsewhere, Citi's Treasury and Trade Solutions business announced a strategic partnership with HighRadius Corp., a software company specializing in cloud-based integrated receivables, to launch Citi Smart Match. The new feature will use HighRadius' artificial intelligence and machine learning technology for the automation of the cash application process of matching open invoices to payments received for the bank's corporate clients.

______________________________

West Texas State Bank will implement Baker Hill's NextGen Loan Origination to standardize its commercial and consumer lending processes, as well as automate previously manual processes, including booking loans into their core system. Baker Hill is a provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics.

______________________________

Citizens Alliance Bank selected Computer Services Inc. as its new core and digital banking technology provider.

______________________________

Ellie Mae Inc., a cloud-based platform provider for the mortgage finance industry, announced the general availability of Encompass Consumer Connect, a solution that offers Ellie Mae Encompass lenders the ability to offer a customizable, branded digital mortgage experience for homebuyers.

______________________________

NetSol Technologies Inc., a business services and enterprise application solutions provider, signed an agreement with an Asian auto captive finance company to deploy NETSOL's NFS Ascent platform for its auto finance business.

______________________________

Origin Bank announced the addition of the MX Personal Financial Management tool to its online product offerings. The technology assists customers with budgeting and debt management through account aggregation and auto-categorization within the online account platform.

______________________________

Xero Ltd., a provider of cloud-based accounting software, is teaming up with with Spanish bank Banco Bilbao Vizcaya Argentaria SA's BBVA API Market to give Xero users access to their BBVA Compass accounts through the bank's open application programming interfaces, or APIs. The integration of the APIs with Xero's cloud-based accounting solution will give small businesses that are customers of BBVA Compass an on-demand view of their cash position, along with greater data sharing security through a fully digital process.

______________________________

Diebold Nixdorf Inc. and Mastercard joined forces to provide a managed, self-service solution for the banking and retail sectors.

______________________________

VyStar CU has selected Fidelity National Information Services Inc.'s modern core banking solution to better serve its members.


Insurance and healthcare

Pursuant to a 10-year relationship, Cerner Corp., a healthcare technology provider, and Lumeris, a health plan and value-based care managed services operator, will launch a new offering, Maestro Advantage, for value-based arrangements, including Medicare Advantage and provider-sponsored health plans.

______________________________

Allstate Corp. unit Signature Motor Club Inc. signed on as the exclusive roadside assistance provider to ArmourGrid, a new consumer technology company. ArmourGrid designed the Family Kuvrr mobile app that helps parents track and monitor their children and families.

Marketing and analytics

Prosper Insights & Analytics and Acxiom Corp. announced a joint solution, Prosper Predictive Audiences, for marketers to increase the accuracy and relevance of a brand's marketing efforts and boost people-based marketing.

Trading and investing

Broadridge Financial Solutions Inc. launched Broadridge Smart Insights, a new cloud-based wealth management solution that uses artificial intelligence and advanced analytics to help advisers connect more meaningfully with clients and prospects.

______________________________

Clarion Partners LLC, a global real estate investment firm, selected MRI Software LLC's MRI Investment Accounting as its fund accounting solution in concert with Clarion's existing deployment of MRI's property management and accounting platform.

______________________________

Ticker Tocker LLC, an integrated trading productivity platform, signed an exclusive partnership with Tradier Brokerage Inc., pursuant to which subscribers that link their Tradier accounts with Ticker Tocker will receive an unlimited amount of commission-free equity trades for the duration of their active membership with the new Ticker Tocker platform.

______________________________

Nasdaq Inc. announced a new contract to deliver its clearing and real-time risk management technology via the Nasdaq Financial Framework to SIX x-clear, a European provider of clearing services. The technology will power SIX's clearing of pan-European equities and Nordic derivatives.

______________________________

Under a partnership, Franklin Templeton Investments' wealth management unit, Fiduciary Trust Co. International, will use the capabilities of Advizr, a provider of profiling, advisory and financial planning solutions, to create holistic financial profiles for the firm's high-net-worth clients. Wealth managers could use such profiles for providing personalized financial planning and advice.

______________________________

Ladenburg Thalmann Financial Services Inc. launched its Retirement Plan Consulting Platform, which will combine ongoing consulting support with updated software tools, training and other resources to facilitate growth for retirement plan-focused advisers across its five independent advisory and brokerage subsidiaries.


Data and information management

M Science, a data-driven research and analytics firm, launched SWIPE, a new data analysis product within its M Data offering. SWIPE uses machine learning to analyze transaction data that is collected from credit and debit card purchases, to provide institutional investors with near-real-time analysis of public and private company performance linked to consumer spending. M Science is a portfolio company of Leucadia Investments, a division of Jefferies Financial Group Inc.

______________________________

Workiva Inc. a provider of data collaboration, reporting and compliance solutions, said it received authorization to operate under the Federal Risk and Authorization Management Program, or FedRAMP. Workiva, which worked with the Tennessee Valley Authority on its application, is now a FedRAMP low-impact software-as-a-service provider.

______________________________

CoreLogic Inc., a property information, analytics and data-enabled solutions provider, announced expanded availability of CoreLogic geospatial content within the Esri ArcGIS Marketplace. Esri, a provider of geographic information system software, will now be able to provide its users desktop and mobile app access to more than 200 CoreLogic proprietary parcel and property attributes through ArcGIS Online, ArcGIS Pro and market-specific packages.

______________________________

An expanded strategic partnership between Thomson Reuters Corp. and enterprise application software provider SAP aims to simplify converting cross-border transaction prices into a single currency, irrespective of where or when the transaction happens. The new SAP Cloud Platform-based solution, called SAP Market Rates Management, offers connectivity to pricing and reference data from the Thomson Reuters Financial and Risk business and is available to SAP customers worldwide.

______________________________

Thomson Reuters launched Eikon Digest, a proprietary personalized service containing the most significant news, research, data and information from the company's financial desktop platform, Thomson Reuters Eikon. The company introduced legal research platform Westlaw Edge and launched the tech-enabled Compliance Management solution.

The company made its comprehensive real-time data accessible in the cloud via the Elektron Data Platform. It has been approved as an authorized Benchmark Administrator under the EU Benchmarks Regulation, which came into effect Jan. 1.

Administration and security

CryptoSecure.com expects its hackproof security to soon become the security standard for the cryptocurrency industry. The company has said the CryptoSecure Platform delivers hackproof security through the entire cryptocurrency transactional chain including token issuance, tokens, wallets, exchange and all transactions.