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Fintech Focus: WEX to accept Visa virtual credit cards for corporate payments

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Fintech Focus: WEX to accept Visa virtual credit cards for corporate payments

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

Metrobank Card Corp., a payment solution provider in the Philippines, adopted Fair Isaac Corp.'s customer communication services to automate its collections.

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Visa Inc. and WEX Inc. announced a new relationship whereby WEX and their corporate payment customers have the ability to use a Visa virtual credit card to enable global business-to-business payments.

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Visa announced a strategic agreement with MoneyGram International Inc. that will modernize and digitize the process of sending and receiving money overseas. The agreement will enable secure cross border remittances by utilizing Visa's real-time push payments platform, Visa Direct.

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Following the integration of Western Union Co.'s money-movement functionalities within ecoPayz's platform, ecoAccount online wallet holders will now be able to top up funds using Western Union's global digital or retail network, and can send Western Union international or domestic money transfers from the U.K.

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Pillar Properties LLC, a Seattle-based developer of multifamily and senior housing, selected Bottomline Technologies (de) Inc.'s Paymode-X solution to automate and streamline AP payment processing across its entire portfolio.

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Online payment processing platform NetCents Technology Inc. said it is preparing to launch its new native Apple and Android applications. The apps will be pushed to the Google Play and iTunes stores the week of July 30.

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WEX renewed its agreement with Kum & Go LC to operate and market the company's commercial fuel card program.

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EVERTEC Inc. and the Puerto Rico Science Technology and Research Trust entered into a collaboration agreement with its startup accelerator program, Parallel 18. The program will leverage many of Evertec's assets as well as receive a cash investment that will be awarded to its participating companies to foster upcoming entrepreneurial companies.

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Cryptanite Blockchain Technologies Corp. announced that its Cryptanite Wallet app is now available in Canada on the App Store for Apple products and Google Play.

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ACI Worldwide Inc., a global provider of real-time electronic payment and banking solutions, announced that its UP eCommerce Payments solution provides a fast way for local card acquirers and alternative payment methods to integrate with ACI's global network of payment endpoints.

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Pursuant to an agreement, Western Union will offer digital international money transfers to customers in Korea via South Korea's kakaobank mobile banking app.

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Lakeland Bank will start offering its Mastercard Debit Card Sweepstakes from Aug. 1. Lakeland Bank customers who use their debit card to make a point of sale purchase will be automatically entered into the Sweepstakes and will have the chance to win up to $1,000.

Banking and lending

Fiserv Inc., a provider of financial services technology solutions, announced the conversion of a large portfolio of Fairstone Financial Inc's consumer loans to LoanServ from Fiserv. Fairstone is a Canadian non-bank provider of loan solutions and consumer financing programs.

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KeyCorp launched its instant payment solution with Atlanta-based instant money company Ingo Money Inc.

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Forest City, Iowa-based MBT Bank selected Jack Henry & Associates Inc.'s Jack Henry Banking division's SilverLake System for added efficiencies, advanced digital offerings, and improved customer service.

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California-based Fresno First Bank selected Computer Services Inc. as its new core provider.

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AmeriFirst Financial Corp. unit AmeriFirst Home Mortgage Corp. became the first client to sign a contract for Black Knight Inc.'s new LoanSphere Servicing Digital solution which aims to deliver detailed, timely and personalized information to AmeriFirst customers about the value of their homes and how much wealth can be built from these real estate assets.

Insurance and healthcare

Anthem Inc., Samsung Electronics America Inc. and American Well announced today that consumers with an Anthem affiliated health plan and the updated Samsung Health app on their Samsung Galaxy device can now access LiveHealth Online within Samsung Health. The "Experts" service in Samsung Health connects consumers with U.S. based, board-certified healthcare providers for a wide variety of non-emergency medical care 24 hours a day, seven days a week.

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ExlService Holdings Inc., an operations management and analytics company, launched a global version of its analytics-driven insurance subrogation platform, Subrosource.

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Pursuant to a multiyear agreement, U.K.-based Ageas Insurance Ltd. will implement global software company Symbility Solutions Inc.'s desk adjusting solutions across their household claims operations.

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Medical Transcription Billing Corp., a healthcare information technology company, announced the launch and validation of the first phase of features supported by Allison, a voice-activated virtual assistant that leverages artificial intelligence within Medical Transcription's talkEHR to provide "smart" navigation and contextual responses to physicians' queries.

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Haven Life Insurance Agency LLC launched an application programming interface to give business partners access to their term life insurance buying process.

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Allianz Life Insurance Co. of North America partnered with Orion Advisor Services LLC, a portfolio management solution provider for registered investment advisers to provide Orion platform users daily, timely access to data for all Allianz Life fixed index annuities and index variable annuities within Orion's trading and reporting interface.

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Inovalon Holdings Inc. said it has developed and deployed new technologies that allow for highly elastic orchestration of microservice containers within its cloud computing environments.

Trading and investing

Fidelity Asset Management Services located at Fidelity Deposit and Discount Bank, a Dunmore, Pa.-based financial services/wealth management firm, started offering offers an adviser-enhanced digital platform designed to enhance the investor experience. Fidelity Asset Management Services located at Fidelity Deposit & Discount Bank is supported by LPL Financial LLC, but Fidelity Deposit & Discount Bank and Fidelity Asset Management Services are not registered broker/dealers and are not affiliated with LPL.

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LPL Financial selected SS&C Technologies Holdings Inc.'s Black Diamond Wealth Platform for its vendor affinity program. The platform provides advisers with an array of tools including portfolio management, reporting and client communications.


Data and information management

S&P Global Inc. unveiled a new innovation space on the S&P Global Platform called Kensho Labs. In collaboration with machine intelligence company Kensho Technologies Inc., acquired by the company in April, select internal users and S&P Global Market Intelligence clients can now access a digital innovation lab for prototyping new product solutions. S&P Global Market Intelligence is a division of S&P Global.

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Pursuant to a partnership between Moody's Analytics, a provider of financial intelligence, and Paxata Inc., a Redwood City, Calif.-based data preparation software provider, the Moody's Corp. unit will offer financial institutions a self-service data preparation functionality to help them turn raw data into ready information instantaneously.

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FactSet Research Systems Inc. partnered with Microsoft Corp. to launch a cloud-based data platform, FactSet Data Exploration, which will allow financial professionals to instantly evaluate alternative and financial datasets and build investment applications in a fully hosted environment provided by Microsoft Azure.


Administration and security

Fortinet Inc., a provider of integrated and automated cybersecurity solutions, announced the expansion of Fortinet Security Fabric offerings on Google Cloud Platform, enabling customers to better protect the expanded attack surface of hybrid cloud environments.

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F5 Networks Inc. introduced new offerings that provide advanced access controls and dedicated Secure Sockets Layer visibility with orchestration capabilities to help avoid cyber attacks.