Blog - Page 215 of 1289

Alogent Acquires AccuSystems for Document Imaging

By Julie Muhn (@julieschicktanz) Posted on October 11, 2022
Categories: Daily news, Mergers & Acquisitions

Banking software firm Alogent has acquired document imaging and tracking software company AccuSystems. Terms of the deal were not disclosed. Adding AccuSystems' technology will help Alogent expand to new market segments.

Banking software firm Alogent announced this week it has acquired AccuSystems, a document imaging and tracking software company. Terms of the deal were not disclosed.

The acquisition combines two players in the enterprise content and information management space and expands the automation capabilities Alogent makes available to its bank and credit union clients. This is especially important because having a centralized data and document management platform that offers data analysis is becoming table stakes for financial institutions.

"The addition of AccuSystems to our process automation suite allows us to extend workflow experiences to new market segments with complementary capabilities proven to drive higher asset growth, improved efficiencies, and profitability for banks and credit unions," said Alogent CEO Dede…

Coinbase Partners with Google Cloud; Earns Regulatory Approval in Singapore

By David Penn Posted on October 11, 2022
Categories: Alumni profile, Coinbase, Google Cloud Platform

Enthusiasm for cryptocurrencies has settled down from its peak a year ago. But innovation in the space continues undaunted. Today we learned that one of the pioneering companies in digital assets, Coinbase, has forged a strategic partnership with Google Cloud. The partnership calls for Coinbase to use Google Cloud as its strategic cloud provider for developing advanced exchange and data services. Google Cloud's platform will enable Coinbase to process blockchain data at scale, and boost the international reach of its services courtesy of Google Cloud's fiber optic network. Coinbase will also benefit from Google Cloud's secure infrastructure and the company's data and analytics capabilities.

"We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers," Coinbase CEO and co-founder Brian Armstrong said. "With more than 100 million verified users and 14,500 institutional clients, Coinbase has…

Onboarding: Customizing the User Journey

By Charlie Burgess Posted on October 11, 2022
Categories: Finovate Webinar, Webinars

How can businesses seamlessly and securely onboard users? Orchestration holds the key to unlocking customer-centric practices, customizing the user journey and ultimately ensuring legitimate users are allowed in while bad actors are stopped.

Eight Alums Raise More Than $1 Billion in Q3 of 2022

By David Penn Posted on October 10, 2022
Categories: Funding, Fundings, Quarterly Funding

2022 marks the fourth year in a row in which Finovate alums have raised $1 billion or more in equity funding in the third quarter. The number of alums reporting investments in Q3 this year was lower than in previous years, and much of the quarter's lofty fundraising total comes from a single, sizable investment of $800 million in Klarna.

Also continuing a trend we've seen for the past few years is the relatively strong performance of August compared to other months in the third quarter. While more capital was invested our alums in July (again, credit to Klarna), August featured more alums receiving funding than any other month in Q3 this year.

Previous Quarterly Comparisons

Q3 2021: More than $1.1 billion raised by 14 alums

Q3 2020: More than $1.2 billion raised by 14 alums

Q3 2019: More than $1 billion raised by 21 alums

Q3 2018: More…

Finastra Partners with Contour for Trade Finance; Collaborates with Kotak Mahindra Bank for Corporate Banking

By David Penn Posted on October 10, 2022
Categories: Alumni News, Daily news, Finastra

Financial solutions provider Finastra announced a strategic collaboration with digital trade finance network Contour. Finastra also announced a partnership with India's Kotak Mahindra Bank, bringing its Unified Corporate Portal solution to support the institution's corporate banking portal Kotak FYN. Formed via a merger between Misys and D+H in 2017, Finastra also recently announced the appointment of Chief People Officer Helen Cook.

Financial solutions company Finastra recently announced a pair of partnerships. The U.K.-based firm, which launched its open platform for innovation FusionFabric.cloud in 2017, has entered a strategic collaboration with digital trade finance network Contour. The collaboration will integrate Finastra's Fusion Trade Innovation technology with Contour's platform, boosting access to trade finance and streamlining back-office workflow.

The collaboration helps financial institutions take advantage of the multi-trillion dollar global trade business that both corporate customers and consumer depend upon every day. The partnership between Finastra and Contour will give financial…

Finovate Global Singapore: MAS Embraces ESG, HSBC Invests in Customer Intel Specialist Bizbaz

By David Penn Posted on October 7, 2022
Categories: Finovate Global

The ESG (Environmental, Social, and Governance) movement may be drawing snickers from some corners of the investing world. But in places like Singapore, the drive to build a more sustainable, equitable, and accountable world for investors and users of financial services, is picking up steam.

This week, the Monetary Authority of Singapore announced the launch of its ESG Hub. The Hub is dedicated to supporting collaboration between fintechs, financial institutions, and other industry participants. With 15 ESG fintechs and organizations already on board, the new hub will serve as an anchor for a variety of sustainability initiatives including the Point Carbon Zero Program and KPMG's ESG Business Foundry.

The Hub will also facilitate MAS' Project Greenprint, a set of initiatives launched in 2020 to help the financial industry obtain "quality, consistent, and granular data" on sustainability. The project includes a common disclosure portal to simplify the ESG disclosure…

Citi Dips Toe into Crypto Waters, Leading $6 Million Round in xalts

By Julie Muhn (@julieschicktanz) Posted on October 7, 2022
Categories: Alumni News, Citi, Daily news, Funding

Hong Kong-based digital asset investment startup xalts received $6 million in funding. The round was co-led by Citi Ventures and Accel. The investment marks a first for Citi; it is the first digital asset manager in which the bank-owned venture firm has invested.

Digital asset investing company xalts landed $6 million in funding in a Seed round co-led by Citi Ventures and Accel.

The investment, which is xalts' first round of capital, also marks a first for Citi Ventures. xalts is the first digital asset manager in which the bank-owned venture firm has invested. "xalts is our first investment in a digital asset manager, and we support its vision of creating innovative products to meet the growing appetite of institutional investors for more efficient and robust crypto-access investments," said Citi Ventures Managing Director Luis Valdich.

While the investment is a first for Citi, however, the move into crypto is not…

Creating a Clear Path to Innovation: Our Conversation with ASA Chief Strategy Officer Lisa Gold Schier

By David Penn Posted on October 6, 2022
Categories: ASA, Speaker series, Women in Fintech

From Open Banking to Embedded Finance, there are more ways than ever for financial institutions and financial services providers to embrace digital technology and bring better, more personalized, and easier to use financial products to market.

One company that is playing a role in helping businesses make the most of the latest innovations in financial technology is ASA. The company, headquartered in Utah and making its Finovate debut last year at FinovateFall, facilitates collaborations between financial institutions and fintechs. An embedded solution, ASA's technology helps community banks and credit unions offer their customers the same quality of innovative digital services offered by their larger rivals.

We caught up with Lisa Gold Schier, Chief Strategy Officer with ASA, to talk about the opportunity of collaborative banking, how to make bank/fintech partnerships work, and what financial institutions are focused on right now.

Tell me about your time in the industry…

Merrill Wealth Management Launches Advisor Matching Program

By Julie Muhn (@julieschicktanz) Posted on October 6, 2022
Categories: Daily news

Merrill Wealth Management launched Merrill Advisor Match, a tool to connect people with the right advisor. Using Merrill Advisor Match, customers answer a set of questions that helps match them with a list of financial advisors. The launch comes at a time when one third of affluent Americans are not currently working with an advisor.

Bank of America's Merrill Wealth Management unveiled a new offering this week that offers a technological approach to matching consumers with financial advisors.

The tool, Merrill Advisor Match, connects people seeking financial advice with a Merrill financial advisor that suits their preferences and needs. After answering a set of questions, consumers looking to be matched with an advisor receive a personalized list of potential candidates who they can review. Once they've finalized their decision, they can use the tool to schedule a meeting with the advisor of their choice.

The questionnaire asks customers where they are…

Jiko Secures $40 Million in Series B Funding, Unveils New Money Storage Solution

By David Penn Posted on October 6, 2022
Categories: Daily news, Funding

Cash management innovator Jiko raised $40 million in Series B funding today. The company's technology enables businesses of all sizes to store their cash in higher yielding "spendable T-bills." Jiko also announced the launch of its Jiko Money Storage solution, which will soon enable 34/7 money movement on the Jiko Network.

Among the more interesting fintechs innovating in the cash management space, Jiko raised $40 million in Series B funding today. Jiko enables companies of all sizes to move cash into and out of short-term U.S. Treasury bills (known as T-bills).

Jiko "spendable T-bills" provide transparent pricing and near instant liquidity, blending the safety and yield of T-bills with the flexibility of cash. The Oakland, California-based fintech leverages its status as a broker-dealer, as well as its technology stack and bank charter, to operate more cost-efficiently than other cash storage options.

"Today's CEOs, CFOs, and corporate treasurers must be…

AML Surveillance Technology Innovator Hawk AI Forges Strategic Partnership with Know Your Customer

By David Penn Posted on October 5, 2022
Categories: Alumni News, Daily news, Hawk:AI

AML surveillance technology specialist Hawk AI forged a strategic partnership with digital onboarding and business KYC solutions provider Know Your Customer. The partnership will give businesses an integrated anti-fraud solution that will help them avoid the problem of siloed compliance technologies. Munich, Germany-based Hawk AI made its Finovate debut in May, demoing its technology at FinovateSpring in San Francisco, California.

Hawk AI, an anti-money laundering surveillance technology company for banks and fintechs, announced a strategic partnership with Know Your Customer this week. The alliance will combine Know Your Customer's digital onboarding and business KYC solutions with Hawk AI's transaction monitoring technology. The new offering will give businesses an integrated anti-fraud solution to enhance their defense against financial crime.

"There is a wave of technological innovation taking place in RegTech," Hawk AI CTO and co-founder Wolfgang Berner said, "from cloud native infrastructure enabling scalability, real-time native processing in a performant,…