Coefficient Markets and Allvue Systems Announce Strategic Partnership

Leading provider of alternative investment technology solutions Allvue Systems has announced a strategic partnership with Coefficient Markets to offer liquid credit and CLO managers real-time, actionable market data directly from contributing dealers who use Coefficient’s EPIC sell-side software suite.

Yuriy Shterk, Chief Product Officer at Allvue, said, “As the loan market rapidly matures, we have observed our clients’ need for sell-side liquidity so they can execute on opportunities in their portfolios quickly, efficiently, and with the most timely pricing information. Our alliance with Coefficient Markets, a firm with decades of experience in both the loan market and electronic trading across credit markets, creates an unmatched offering for the marketplace that will guarantee our clients are equipped with the highest quality information so that they can make more-informed trading decisions.”

With the help of this collaboration, Allvue’s clients will have complete access to market liquidity data along with their portfolios and regular workflow inside the company’s suite of loan software offerings. Clients have traditionally had to rely on previous-day data or view real-time data elsewhere. The depth of Coefficient’s expertise in the loan market will guarantee that Allvue’s clients have access to the information they need to manage their investments effectively and affordably. Over 25% of CLO Assets Under Management are currently managed by six of the top ten CLO Managers, who have already signed up as early adopters of the live liquidity data.

Brian Callahan, Chief Executive Officer at Coefficient Markets, said, “We are very excited to partner with Allvue and, for the first time, connect digitized market data suitable for consumption into the portfolio management system for private debt and CLO managers.”

Increased trading volumes and better trade selection for both sides will result from Coefficient’s dealer clients’ full, direct integration of their available liquidity in the location where it is most efficiently consumed by their buy side clients who use Allvue throughout their workday.

The EPIC Mirror platform, which compiles sell-side dealer price and liquidity data across the loan market, will be specifically supported in connecting clients of Allvue’s Front Office solutions to it by Coefficient Markets.

Atomic and Jack Henry to Launch a Digital Banking Revolution for Banks and Credit Unions

Atomic, the market leader in payroll connectivity, has announced that Deposit, its direct deposit setup and switching solution is now available through Jack Henry’s digital banking platform.

Jordan Wright, Co-founder, and CEO at Atomic said, “We aim to help marginalized and underserved consumers. In the same way, we strive to help financial institutions of every asset size differentiate and excel–often the regional and community banks are among the hardest to serve underrepresented populations. By partnering, customers are empowered to unlock direct access to account funding streams without needing to invest in modern technological infrastructure or build in-house APIs and integrations required to launch competitive, cutting-edge financial solutions. We’re thrilled about this integration with Jack Henry and the Banno digital banking platform.”

The Banno Digital PlatformTM is built on the same set of APIs as the Digital ToolkitTM, which Atomic used to integrate its technology into the online experiences provided by local and regional financial institutions. Atomic has been able to seamlessly integrate into the digital banking platform thanks to access to Jack Henry’s API, design, and authenticated frameworks. This integration strengthens the over 850 fintech companies that make up the Jack Henry ecosystem, which now serves over 8,000 financial institutions with pertinent financial goods and services for their account holders.

Atomic provided Banno users with access to its first-to-market direct deposit switch and setup solution by rolling out a soft launch for its Deposit plugin on the Jack Henry online banking platform. Financial institutions can allow their customers to set up and change direct deposits to fund accounts held with them digitally by using Atomic’s Deposit solution.

Existing Banno customers can quickly install and activate the Deposit plugin on their bank’s mobile app or online banking platform because Atomic’s Deposit solution is already operational on the Jack Henry digital banking platform. This partnership is a fantastic illustration of integrated fintech that strengthens gains and expands opportunities for financial institutions of all sizes, promoting a more competitive environment.

Finastra and Clinc to Increase Digital Engagement and Reduce Service Agent Workload

Finastra announced a partnership with Clinc, the top conversational AI expert serving international financial institutions, which will offer its Virtual Banking Assistant technology fully integrated into Finastra’s Fusion Digital Banking platform. With Fusion Digital Banking serving as its digital platform, the application enables Finastra’s bank and credit union customers to improve digital engagement and streamline the customer experience. The program increases efficiency by significantly decreasing call center volume by allowing users to manage routine banking inquiries via voice and chat.

Narendra Mistry, Chief Product Officer, Universal Banking at Finastra said, “Financial institutions worldwide will benefit from increased access to Clinc’s innovative chatbot technology. Understanding how real people talk and interact is critical as banks and credit unions work to ensure that the customer experience remains strong while embracing new technologies. We’re delighted to welcome Clinc to our technology ecosystem, and for Finastra’s customers to be able to easily offer conversational AI as part of their digital strategy.”

FusionFabric.cloud, Finastra’s premier financial technology ecosystem, and conversational AI software are joined in this integration to produce AI-driven digital experiences at cloud scale. This relationship is unique to the banking industry. Clinc’s Virtual Banking Assistant, built on the market-leading core technologies of Finastra and utilizing a wide range of open APIs, aids financial institutions in increasing user engagement by providing a practical and seamless experience.

Jon Newhard, CEO at Clinc said, “We are incredibly pleased to be able to offer our AI solution to banks in collaboration with Finastra, whose FusionFabric.cloud platform is viewed around the world as a leading financial technology ecosystem. Our Virtual Banking Assistant, which can be integrated seamlessly as part of a digital transformation strategy, enables financial institutions to engage customers efficiently but without losing the personal touch. This is vital in an era when increasing numbers of consumers are demanding authentic and intuitive experiences from chatbots.”

Cross-border Payments are Now Available on AvidXchange

Middle-market businesses and suppliers can now pay their suppliers with cross-border payments (CBP) made possible by AvidXchange, a leading provider of account payable (AP) automation software. AvidXchange’s newly launched SuiteApp within NetSuite’s SuiteCloud platform will offer the embedded payment feature first to Oracle NetSuite customers.

Michael Praeger, co-founder, and chief executive officer of AvidXchange, said, “In today’s market, organizations want direct payment processes. AvidXchange’s domestic and international payment modules are both embedded in NetSuite, which means our customers never need to leave the system to make payments. AvidXchange strives to provide a true end-to-end solution that saves our customers time without adding extra steps.”

AvidXchange SuiteApp allows NetSuite users to pay domestic and international suppliers without leaving the platform. In addition to USD bank accounts, other currencies supported include AUD, CAD, EUR, GBP, INR, and MXN. Customers can automate exchange rate quotes for international bills once cross-border vendors are established and payments can be processed.

Tyler Gill, vice president and business line executive of strategic partnerships and alliances at AvidXchange, said, “We’re excited to introduce this cross-border payment offering because of what it means for our customers and the market as a whole. AvidXchange has partnered with NetSuite for nearly 15-years, and this integration is a great way to show gratitude to our joint customers.”

By combining NetSuite’s robust financial solution with CBP’s fully automated accounting process, customers can better track foreign exchange fees, gains, and losses, so they are in full control of their costs. AvidXchange streamlines operations and reduces the time it takes to print checks and keep track of expensive international wire fees using fewer resources. It is also safer to pay international suppliers with a centralized accounting system. An agreement with a third-party leader in international payments has allowed for the creation of this embedded payment experience. The New York State Department of Financial Services has granted AvidXchange a money transmitter licence for use in US business-to-business transactions.

Trust Bank to Power its Cloud-native Platform with Thought Machine

Thought Machine, a cloud-native banking technology company, announced that it will power Trust Bank, Singapore’s first cloud-native digital bank. Trust is a digital-only bank that is expanding quickly and has a cloud-based user interface.

Rajay Rai, Chief Information Officer, of Trust Bank said, “We have been working collaboratively with Thought Machine to test, deploy and deliver a transparent banking service which we are truly proud of. Vault Core is the foundational platform for us to build and grow the first of Singapore’s new wave of digital banks. We look forward to building on our joint success and delivering even greater levels of customer experience and innovation.”

Trust has developed a solution with an intuitive customer experience, leveraging the technology of Thought Machine, combining some of the best rewards with a variety of products. At the time of launch, this includes a credit card, a savings account, and family personal accident insurance.

Nick Wilde, managing director of Asia Pacific, Thought Machine said, “We are proud to be working on this exciting new project with Trust Bank. Trust has already delivered a compelling proposition to the market, and we’re excited to work alongside its team to expand and grow the service further. It’s clear that Trust, powered by Thought Machine technology, has the vision and ambition needed to create a digital bank that greatly enhances Singapore’s banking landscape – and gains huge market share.”

Following its September 2022 launch, Trust quickly expanded using Thought Machine’s core banking platform, Vault Core. The bank gained 100,000 customers in its first ten days and more than 300,000 customers in its first two months. The scalability of Vault Core enables Trust to build additional products and features quickly while leveraging real-time data and analytics. Vault Core is a highly configurable platform designed to support both smaller banks and FinTechs introducing new products to the market as well as large banks undergoing core transformation.

Access Softek Unveils YourChoice to Offer Community Financial Institutions

Access Softek, a company that offers omnichannel digital banking, has unveiled EasyVest YourChoice, an integrated investment solution that enables users to trade stocks, fractional shares, mutual funds, and exchange-traded funds from inside of a digital banking interface.

Chris Doner, founder, and CEO of Access Softek, said, “Access Softek’s EasyVest YourChoice solution places community financial institutions at the forefront of a major industry shift. Big banks previously dominated the wealth investment landscape, but we are confident that our technology will place the power in the hands of the institutions who understand their consumers’ financial needs best.”

With EasyVest YourChoice, banks and credit unions now have a way to access the $73 trillion investment market that is usually serviced by big national banks, Fintechs, and investment companies. By integrating with online and mobile banking applications and expanding and enhancing a financial institution’s current wealth management service, YourChoice gives community financial institutions a competitive edge over traditional financial institutions.

EasyVest YourChoice was developed by Access Softek to improve user digital engagement, keep current users, draw in new users (especially younger users), and offer convenient access to a multifunctional investment solution within a digital banking platform. EasyVest YourChoice is part of the Access Digital Investment Suite from Access Softek, which also includes EasyVest Automated, a robo-advisor solution, and EasyCoin, a crypto investment solution. The solutions can be used independently or as part of the larger Access Digital Investment Suite.

Nuvei Chooses Virgin Atlantic as a Payment Provider

Nuvei Corporation, a Canadian fintech firm, has recently announced a collaboration with Virgin Atlantic, one of the world’s most prominent airlines. Nuvei expands on its exceptional technology by developing customized solutions for some of the industry’s largest corporations.

Philip Fayer, Nuvei Chair and CEO, “We have always shown a commitment to accelerating business for the travel industry, and our recent partnerships in the space are reflective of this. We’re looking forward to providing Virgin Atlantic customers with seamless, localized, and intuitive digital payment experiences, fit for a modern world.”

Virgin Atlantic will provide customers with a frictionless payment experience by partnering with Nuvei, allowing them to pay using methods they are familiar with and trust around the world. The agreement grants Virgin Atlantic access to Nuvei’s proprietary modular platform, which is designed to increase acceptance rates and revenue. 

Keli Sandeman, Payment Strategy Manager at Virgin Atlantic stated, “We chose to work with Nuvei because we too believe that strategic payments can accelerate revenues; they are a key touchpoint with our customers – another chance to impress.

Sandeman added, “From the outset, we formed a true partnership with the Nuvei team. Their deep global payment expertise is complemented by their human approach to doing business and desire to work with us to accelerate our business growth. We’re looking forward to taking our payment strategy to new heights, by working with Nuvei.”

Freedom Bank and FinTech Autobooks to Offer Digital Invoicing and Payment Solutions

The Freedom Bank of Virginia has announced the launch of a new Autobooks-powered digital invoicing and payment solution for business clients. With the help of these new services, small business clients of Freedom can take advantage of simple options for invoicing and payments that are seamlessly integrated into and accessible within the online and mobile banking platform.

Business clients can create professional-looking invoices quickly and easily and send them directly to their customers’ inboxes. Recipients can use the “pay now” button on each invoice to make their payment with a credit card or an ACH in a safe and secure manner. The service has no monthly fee, and clients only pay merchant fees for credit card transactions and ACH payments sent by their customers.

Joe Thomas, President, and CEO said, “Freedom Bank is thrilled to add these new digital and payment services to our robust suite of digital banking solutions. We pride ourselves on offering our clients online access to critical money management tools one would only expect at a larger bank. At Freedom, we combine a technology-forward focus business owners need with a more personalized relationship and advice small businesses want.”

Freedom Bank, headquartered in Fairfax, Virginia, is a next-generation community bank that provides commercial banking, personal banking, and mortgage banking solutions through the use of banker expertise and innovative technology to build lead relationships with clients.

Tradesmarter’s WOW TRADER Collaborates with TradingView for Advanced Charting

Tradesmarter, the provider of the white label trading platform solution WOW TRADER, announced the release of its most recent integration with TradingView. By incorporating this high-performance and mobile-friendly charting tool into the WOW TRADER white label trading platform, Tradesmarter maintains its company mantra “Simplified, yet advanced.”

TradingView is a well-known investment tool that is used by millions of investors and traders worldwide. With the addition of this excellent charting tool, WOW Trader continues its 11-year tradition of platform evolution and dedication to offering the smoothest trading experience for brokerages and financial services providers around the world.

The most user-friendly mobile and web platform tools are sought after by the new generation of traders and investors today. An intuitive, point, click, or swipe user interface matches the speed and convenience of today’s top trading applications. Although there are now a wide variety of brokerages and asset classes to choose from, WOW Trader has filled a critical gap for a broker-agnostic trading solution, giving any startup or legacy platform provider the modern tools, they need to compete in a mobile-first world.

WOW Trader includes an all-in-one robust back-end solution for managing a firm’s CRM, risk management, and affiliate marketing solutions, removing the need for a patchwork solution of various fragmented business centric software tools that every financial services company requires.

Even though the most crucial features and tools needed for any new company looking to enter the market are included in our current offering, there are still a lot of exciting new features on our current roadmap that will be introduced soon.

Smarter Holdings International is a cloud-based fintech services provider and white label solution that provides advisors, developers, and professional financial services providers with a platform. Tradesmarter provides a suite of fully hosted “out of the box” tools that are used by a growing number of providers looking to create innovative trading and investing experiences.

Bladex Joins Forces with TradeAssets to Accelerate Digitalization and Access to Trade Finance

Banco Latinoamericano de Comercio Exterior (Bladex) has formed a strategic partnership with Dubai-based Fintech Innovations International DMCC, which owns the TradeAssets e-Marketplace for financial institutions. Bladex’s collaboration with TradeAssets will allow it to further promote interbank relations, giving customers greater access to trade-related financing solutions. Bladex is the first Latin American bank to join the TradeAssets platform as part of the alliance.

Bladex’s CEO, Jorge Salas, said, “Bladex is building its strategic plan on a unique business model that will benefit from a series of critical alliances, such as the one with TradeAssets, which aims to grasp the existing finance opportunities across important trade corridors for Latin America in an efficient and safe manner. We are enthusiastic about this strategic alliance as its value proposition meets several strategic goals for Bladex: it facilitates access to new markets; accelerates clients or counterparties growth and generates operational and efficiency improvements which contribute to adding technological strength. Additionally, it enables risk sharing and invites liquidity into Latin America.”

Bladex and TradeAssets will work together to bring more Latin American banks on board. This will facilitate trade flows through trade corridors connecting the region to Europe, the Middle East, Africa, and Asia, resulting in an appealing value proposition for Bladex’s stakeholders.

TradeAssets will make it easier to establish relationships and close deals in new markets. As a result of this initiative, Bladex is already in discussions with several banks in India, where the LatAm-India corridor is crucial, with total trade flows reaching USD43 billion by 2021.

Sumit K. Roy, Co-founder & President of TradeAssets, said, “We are excited and privileged by this partnership with Bladex. As a market leader in the Latin-American trade finance space, Bladex provides a unique window into the entire Region and is a prominent institution keen on raising its international connectivity within the continent and beyond. With this collaboration we aim to grasp new business opportunities, while reducing the trade finance gap in Latin America.”

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