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Fintech Focus: MoneyGram rolls out mobile app in US

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

MoneyGram International Inc. launched its mobile application in the U.S., its largest send market, along with France, Germany, Spain, the U.K., Australia, Austria, Belgium, Denmark, Ireland, Italy, the Netherlands, Norway, Portugal and Sweden. The app includes features such as biometric identification, location finder, transfer tracking, exchange rates and fee estimates.

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EVO Payments Inc. subsidiary eService Sp. z o. o. teamed up with POSNET Sp. z o. o., a point-of-sale solution provider in the Polish market, to provide the latter with payments solutions for its new mobile-operated device in Poland, called Pospay. EService and POSNET plan to deploy the new Pospay point-of-sale solution to new and existing merchants starting in early 2019.

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Camden National Bank migrated its SilverLake System to an outsourced environment and Jack Henry & Associates Inc. will now host the bank's core to allow it to focus internal resources on supporting its growing business lines. Camden National Bank also enlisted Jack Henry for a new account opening platform, eSign functionality and improved customer relationship management capabilities.

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Jack Henry & Associates rolled out iPay QuickPay, a new voice-driven consumer bill pay functionality, which is integrated with Alexa smart speakers to enable consumers to pay their bills using simple voice commands. ChoiceOne Bank is rolling out the new service to its customers.

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Remitly Inc. expanded its service to 40 countries across Africa, Asia, Europe, the Middle East and South America, representing an additional $168 billion of the global remittance market. The digital remittance company added options for its customers to physically pick up cash instead of a bank transfer and to choose the currency in which users want to make the transfer.

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Western Union Co. partnered with mobile business-to-business transaction processing company TerraPay to enable mobile wallet and bank account payout.

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Canada-based Valeyo, an insurance and delivery solutions provider, integrated Equifax Inc.'s income and employment verification solution, called Verification Exchange, into its proprietary loan origination solution.

Banking and lending

Bank of America Corp. is launching a new Bank of America Cash Rewards Credit Card in early 2019, offering 3% cash back rewards across six categories: gas, online shopping, dining, travel, drugstores, and home improvement and furnishings. Existing cardholders will be able to use theses service from the week of Jan. 14, 2019.

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Connecticut-based People's United Bank NA will use Fidelity National Information Services Inc.'s real-time lending solution to pre-qualify and send personalized loan offers to potential customers. The service is also capable of handling credit reviews, risk profiling, pricing and loan closing.

Insurance and healthcare

Canadian insurance and financial services company Co-operators Group Ltd. will now use Guidewire Software Inc.'s predictive analytics solution for its claims processing tasks.

Trading and investing

Cryptanite Ltd, a wholly owned subsidiary of Cryptanite Blockchain Technologies Corp., got registered with the U.S. Treasury Departments as a money services business in the Money Transmitter subcategory under Bank Secrecy Act regulations. The registration allows Cryptanite to offer its range of decentralized portfolio management tools to traders and investors throughout the U.S.

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Morgan Stanley selected knowledge engine platform company Yext Inc.'s platform to create and manage its financial advisers' business pages on the web and their digital presence.

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California-based BTIG LLC launched a new real-time trade analytics platform for its electronic trading clients on the TradeSave platform. The new service uses predictive analytics and post-trade data points for algorithm routing decisions and market timing selections for orders executed by the platform.

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Investments and capital markets technology company Envestnet Inc. rolled out new technology features for its wealth management platform that include improving the client connectivity services on Envestnet Yodlee and boosting the platform's financial planning capabilities.

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eMoney Advisor Holdings LLC, a provider of wealth management solutions, integrated its planning platform with BlackRock Inc.'s retirement investment framework, iRetire, with features such as single sign-on access. The integration will bring more suitable retirement planning for advisers and their clients.

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Pursuant to a partnership, BlackRock Inc. and Microsoft Corp. are planning to develop a retirement planning platform. BlackRock also plans to offer new investment products designed and managed by the company that would be made available to U.S. workers through their employers’ workplace savings plan.

Data and information management

Strategic Global Advisors LLC, a California-based asset management firm, has agreed to use SEI Investments Co.'s IT hosting solution and suite of managed services for its IT infrastructure and data processing tasks, enabling its investment managers to better address their business requirements.

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Financial technology company Fiserv Inc. upgraded its Advantage Fee billing and revenue management solution to support cloud-based operations and updated its user interface.

Administration and security

Fortinet Inc., an online security software company, now secures Indian express distribution and logistics company DTDC Express Ltd's cyber activities across 30 global offices and 450 branches.

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Israel-based cybersecurity firm Cymulate Ltd. partnered with Symantec Corp. to share research into the latest email-based cybersecurity threats. Insights from the shared data will enable Symantec to research the attacks simulated by Cymulate and provides the defenders with a better way to secure their online operations.