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Fintech focus: PCS to offer county-level insured cat loss estimates in 2019

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

Access Idaho, the administrator of Idaho's official Web portal, updated its Prompt Pay service to enable government entities in the state to send payment links in bulk via SMS text and email at the click of a button.

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TableSafe Inc., a provider of pay-at-the-table technology for table service restaurants, announced the EMV certification of its RAIL payment platform with First Data Corp.

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SocialFlow Inc., a social distribution platform for publisher and media companies, launched the Universal Attention Token, a blockchain-enabled solution that will improve the way publishers are compensated for their digital content.

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Pursuant to a strategic relationship, ACI Worldwide Inc., a provider of real-time electronic payment and banking solutions, will integrate its campus commerce system with N2N Services Inc.'s cloud integration platform, Illuminate, to improve students' payment experiences. N2N is a platform provider for higher education systems integration.

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Under a five-year ISO reseller agreement, NetCents Technology Inc.'s cryptocurrency payment processing technology will be integrated into Bleu Tech Enterprises Inc.'s point of sale terminals.

Banking and lending

Biz2Credit Inc. launched BizAnalyzer Virtual CFO, an advanced software tool that enables business owners to make better financial decisions about their companies. This virtual CFO software is available to clients of Paychex Promise, a subscription-based service from Paychex Inc.

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Fiserv Inc., a provider of financial services technology solutions, launched Originate, a new suite of solutions to help banks and credit unions deliver improved digital account opening and loan origination.

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The Rockland Trust Investment Management Group will adopt SEI Investments Co.'s wealth platform to provide a modernized user experience through a web-based wealth management solution.

Insurance and healthcare

Prudential Financial Inc. launched a direct-to-consumer service, LINK by Prudential, which offers personalized financial planning, recommendations for insurance, annuities and investments in a portfolio of exchange-traded funds, Reuters reported, citing Prudential executives.

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Property Claim Services, a Verisk Analytics Inc. business, announced a new level of granularity for U.S. property catastrophe insured loss estimate data. In the first quarter of 2019, PCS will provide county-level industry insured loss estimates and claim counts for events with insured losses of at least $1 billion across all states and perils. PCS also announced the enhancement of PCS Global Cyber with coverage for cyber catastrophe events.

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Voya Financial Inc. announced a partnership with Silicon Valley-based startup innovation platform Plug and Play to collaborate with entrepreneurs from around the world.

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Under a partnership between DroneInsurance.com, a digital drone insurance portal, and AirMap, a drone airspace management platform, drone operators will be able to access DroneInsurance.com's offerings within AirMap for Drones, AirMap's iOS and Android applications. Liberty Specialty Markets, a unit of Liberty Mutual Holding Co. Inc., underwrites policies offered by DroneInsurance.com.

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Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, launched SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities. SomPro will deliver underwriting, risk management and claims services.

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UMB Healthcare Services and Boston-based technology and services company Bend Financial partnered to offer UMB custodial account, benefit card issuer and tier one customer support services on Bend Financial's HSA platform, launching in October.

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Ohio-based insurer Grange Insurance selected Guidewire Software Inc.'s Guidewire Core and Digital solutions to modernize its policy and billing systems.

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Guy Carpenter & Co. LLC launched GC Genesis, its expanded InsurTech advisory offering to help clients navigate the evolving insurtech market.


Trading and investing

MSCI Inc. signed an agreement with the Saudi Stock Exchange Co. to create a joint tradable index that can serve as the basis for investment instruments including derivatives and exchange-traded funds. The joint tradeable index will be available in the fourth quarter.

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SS&C Technologies Holdings Inc. launched Salentica Data Broker, an independent solution that enables secure data sharing with other applications used by wealth advisers, asset managers and their clients.

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Falls Church, Va.-based SEC-registered investment adviser Rembert Pendleton Jackson selected Envestnet Inc.'s Tamarac platform as its portfolio management, reporting and client portal solution.

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Broadridge Financial Solutions Inc. launched a new solution to support investment firms with their second Markets in Financial Instruments Directive ex post reporting obligations outlined under Article 50 of the Delegated Regulation.

Data and information management

IHS Markit Ltd. launched the Market Performance Analysis Tool, a new offering as part of its WorldView aftermarket online solution. The tool will allow aftermarket companies to analyze unit and dollar volume by product line and compare actual transaction pricing against competition.

Administration and security

Fortinet Inc., a cybersecurity solutions provider, introduced FortiNAC, a new network access control product line that delivers network segmentation and automated responses for internet of things security.

More fintech news

The week in fintech: With OCC charter, fintech de novo targets mobile banking