Blog - Page 210 of 1289

Railsr Taps Featurespace for Fraud Prevention

By Julie Muhn (@julieschicktanz) Posted on November 15, 2022
Categories: Alumni News, Alumni profile, Featurespace

Embedded finance platform Railsr is teaming up with fraud prevention company Featurespace this week to bolster fraud prevention efforts for Railsr as a company, as well as for its clients.

Railsr will leverage Featurespace's ARIC Risk Hub, combined with its own fraud teams, to provide its clients with a compliance tool to stay on top of regulations. The fraud tools will be available to Railsr clients with a single integration, making it easier for them to focus on growth while remaining compliant.

"As the market accelerates towards embedded finance, consumers expect a frictionless payment experience that is built into the transaction process. With Featurespace’s AI and ML capabilities, Railsr can provide an enhanced level of customer experience, making consumers' lives simpler and safer," said Railsr Global Head of Product for Fincrime and Operations Stuart Hartley.

The ARIC Risk Hub will enable Railsr customers to view and manage their fraud…

Brightwell Launches Cross-Border Payments Solution

By Julie Muhn (@julieschicktanz) Posted on November 15, 2022
Categories: Daily news

Brightwell is launching a new cross-border payments solution called ReadyRemit. Integrating ReadyRemit will enable Brightwell customers to help their end clients send money to 90% of the world's population. The new tool is leveraging partnerships with Mastercard and The Bancorp Bank.

Payments technology company Brightwell unveiled its new cross-border payments solution today. The new offering, ReadyRemit, is a cross-border-payments-as-a-service tool.

Powered via partnerships with Mastercard and The Bancorp Bank, ReadyRemit will enable Brightwell's business and fintech clients to offer their end customers a cross-border payments solution with built-in compliance capabilities. The new tool aims to be faster than traditional money transfer tools, taking place in near-real time or on the same day the transfer was initiated.

"Our partnership with The Bancorp Bank, N.A., and Mastercard will enable customers to build a new revenue stream by offering low-to-no-code platform integrations containing everything needed to launch a global payments program…

Bank of the West Turns to Extend for Virtual Cards and Spend Management

By David Penn Posted on November 15, 2022
Categories: Alumni News, Daily news, Extend

Virtual card and spend management platform Extend announced a partnership with Bank of the West. The collaboration will enable small and medium-sized businesses to take advantage of virtual card technology to enhance spend management. Extend made its Finovate debut three years ago at FinovateSpring 2019, demoing its platform, app, and APIs.

Virtual card and spend management innovator Extend has teamed up with Bank of the West. The collaboration will enable Bank of the West's small and medium-sized business clients to leverage Extend's technology to create and control digital company cards and enhance spend management.

Bank of the West cardholders will be able to sign up for Extend in a process that does not require any technical integration. After enrolling their commercial cards, SME users can access Extend online or through a mobile device to create unique virtual cards; send virtual cards to workers, vendors, suppliers, and others directly from the…

Thomson Reuters to Acquire Tax Startup SurePrep

By Julie Muhn (@julieschicktanz) Posted on November 14, 2022
Categories: Alumni News, Daily news, Mergers & Acquisitions, Thomson Reuters

Thomson Reuters agreed to acquire tax automation software company SurePrep for $500 million in an all-cash deal. "The acquisition will support our strategy to empower tax and accounting professionals with the very best technology to simplify workflows, drive insights, and improve efficiency," said Thomson Reuters President of Tax and Accounting Professionals Elizabeth Beastrom. The deal is expected to close in the first quarter of next year.

Business information services firm Thomson Reuters recently announced it is acquiring tax automation software company SurePrep in a $500 million all-cash deal. The transaction is expected to close in the first quarter of next year.

Thomson Reuters offers four tax and accounting solutions: Checkpoint, a suite of online research and information; ONESOURCE, tax compliance technology; CS Professional Suite, integrated tax and accounting software; and Onvio, cloud-based software to manage projects, billing, and more. Purchasing California-based SurePrep will enable Thomson Reuters…

The Association of Military Banks of America Launches Debit Card

By Julie Muhn (@julieschicktanz) Posted on November 11, 2022
Categories: Daily news

Before jumping into the content of this post, I'd like to recognize and thank our military veterans and their families for their continued sacrifice.

The Association of Military Banks of America (AMBA) is launching a new debit card called the Patriot Card. The card is launching in partnership with digital accounts and payment processing company MOCA Financial. AMBA will donate a portion of the interchange generated by every swipe of the Patriot Card to military and Veteran support organizations and causes.

The Association of Military Banks of America (AMBA) unveiled a new debit card today called the Patriot Card. AMBA, a military bank trade association, is launching the new payment card through a partnership with digital accounts and payment processing company MOCA Financial.

The Patriot Card aims to offer Veterans a safe, flexible, and reliable card that they can use to receive, spend, and save their government benefits. Features…

Experian’s Greg Wright on Opportunities in Financial Inclusion

By Julie Muhn (@julieschicktanz) Posted on November 10, 2022
Categories: Experian, Speaker series

Financial inclusion has been a rising hot topic in the past few years. Providing underserved populations with the tools they need to manage their finances and build their wealth has been a top goal across many banks and fintechs, especially those focused on credit and underwriting.

I recently had the opportunity to speak with Gregory Wright, Executive Vice President and Chief Product Officer at Experian. Wright was a keynote speaker at this year's FinovateFall event in New York. He offered key takeaways from his keynote, discussed opportunities for banks when it comes to financial inclusion, and talked about how they can prepare and plan to scale their operations.

https://www.youtube.com/watch?v=vQuZRlExdx4

Key takeaways from his keynote

I talked about innovation in three parts. The first part was about innovation with purpose. I think being mission-driven and wanting to have an impact in the world helps drive not only what you want to…

Apiture Unveils New Data Engage Solution to Help Banks Better Leverage Data

By David Penn Posted on November 10, 2022
Categories: Alumni News, Apiture, Daily news, Pendo

Apiture, a digital banking solutions provider, launched its Data Engage solution this week. The new offering helps financial institutions access data-driven insights into how their customers are using Apiture's digital banking platform. Data Engage was made possible courtesy of a partnership between Apiture and Pendo. Both companies are based in North Carolina and made their Finovate debuts this year.

Digital banking solutions provider and new Finovate alum Apiture introduced its Data Engage solution this week. The technology, made possible courtesy of a partnership with fellow Finovate newcomer Pendo, will give banks and other financial institutions access to data-driven insights into how their customers are using Apiture's digital banking platform. Data Engage further gives these firms tools to provide in-channel guidance and personalized messages to boost customer engagement. Pop-up messages, marketing notices, tutorials, and more are examples of the kinds of communications that can be leveraged to educate users and…

JP Morgan and Mastercard Leverage Open Banking to Launch Pay-by-Bank Tool

By Julie Muhn (@julieschicktanz) Posted on November 10, 2022
Categories: Daily news, JP Morgan Chase, MasterCard

J.P. Morgan Payments and Mastercard partnered to launch Pay-by-Bank, an ACH payment tool that leverages open banking. Billers who offer consumers an option to a pay via ACH can integrate Pay-by-Bank into their existing payments page. Pay-by-Bank is currently in a pilot phase with a small number of U.S. billers, but will be rolled out to more billers in 2023.

Today's news proves you can indeed teach an old dog new tricks. ACH, a technology that is 50+ years old, is getting a makeover with open banking.

J.P. Morgan Payments and Mastercard have joined forces this week to launch Pay-by-Bank, an ACH payment tool that leverages open banking and consumer-permissioned data to make it easy for users to pay bills directly from their bank accounts.

"We realized years ago that the way people think about money and commerce is changing," said Mastercard North America Executive Vice President Chiro…

Philippines-Based Neobank Tonik Adds New Lending Products

By Julie Muhn (@julieschicktanz) Posted on November 9, 2022
Categories: Daily news

Tonik is adding two new loan products to its suite of banking tools. The new offerings include Flex Loan, an unsecured personal loan, and Big Loan, a home equity line of credit. Tonik received the first digital bank license issued by the Philippines' central bank, Bangko Sentral ng Pilipinas (BSP).

Tonik is one of the first neobanks in the Philippines. Today, the Singapore-based fintech announced it is adding two new lending products to its existing suite of digital banking tools.

The new offerings are called Flex Loan and Big Loan. Flex Loan is an unsecured personal loan that doesn't require collateral and offers borrowers up to $4,300 (Php 250,000) at a rate of 2.49% monthly interest for a term of up to 24 months. Big Loan is a home equity line of credit of up to $43,000 (Php 2,500,000) that enables users to borrow against the equity…

Digital Engagement Solution Provider Agent IQ Secures $10 Million in Series A

By David Penn Posted on November 9, 2022
Categories: Agent IQ, Funding

Digital engagement solution provider Agent IQ has raised $10 million in Series A funding. Agent IQ's technology helps bankers develop more meaningful customer relationships by blending enabling technologies like AI with human talent, expertise, and empathy. Agent IQ made its Finovate debut earlier this year at FinovateSpring and returned to the Finovate stage in September for FinovateFall.

In a round led by Mendon Venture Partners and featuring participation from Acronym VC, Sierra Ventures, and FNBO, digital engagement solution provider Agent IQ has raised $10 million in Series A funding. The investment, according to Crunchbase, takes the company's total capital raised to $18.5 million.

Agent IQ CEO and co-founder Slaven Bilac said that the critical task of developing meaningful customer relationships can be lost in the drive toward the convenience and speed of digitalization. "Agent IQ exists to change this narrative," Bilac said. He added that the company will "leverage…

Finastra Partners with PoS Financing and Buy Now, Pay Later Platform Jifiti

By David Penn Posted on November 8, 2022
Categories: Alumni News, Daily news, Finastra

Finastra has announced a strategic alliance with Ohio point-of-sale (PoS) financing and Buy Now, Pay Later (BNPL) company Jifiti. The alliance will bring new PoS financing capabilities to financial institutions in Finastra's Banking-as-a-Service ecosystem. Finastra was formed via a merger between Finovate alum Misys and D+H in 2017.

Just last week we highlighted the state of Ohio as a place where innovation in fintech and insurtech was thriving. Today, we learn that financial software company and Finovate alum Finastra has inked a strategic alliance with one of Ohio's fintech innovators: Columbus-based point of sale financing company and Buy Now, Pay Later platform Jifiti.

The collaboration will bring embedded financing capabilities to financial institutions in Finastra's Banking-as-a-Service (BaaS) ecosystem. These capabilities will enable banks to empower merchants with point-of-sale financing options such as Buy Now, Pay Later and split payments. Whether transacting online, in-store, or by call center, consumers will be…