Fintech News America https://fintechnews.am Fintech America Mon, 27 Jun 2022 06:23:41 +0000 en-GB hourly 1 https://wordpress.org/?v=6.0 https://fintechnews.am/wp-content/uploads/2021/06/cropped-favicon-32x32.png Fintech News America https://fintechnews.am 32 32 Bank of America Makes Strategic Investment in iCapital to Deepen Partnership https://fintechnews.am/fintech-usa/47430/bank-of-america-makes-strategic-investment-in-icapital-to-deepen-partnership/ https://fintechnews.am/fintech-usa/47430/bank-of-america-makes-strategic-investment-in-icapital-to-deepen-partnership/#respond Mon, 27 Jun 2022 06:23:41 +0000 https://fintechnews.am/?p=47430 iCapital, a fintech platform for alternative investments and investors, announced that the Bank of America has made a strategic investment in the company. Bank of America invested in iCapital at

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iCapital, a fintech platform for alternative investments and investors, announced that the Bank of America has made a strategic investment in the company.

Bank of America invested in iCapital at the same valuation as iCapital’s last funding round in December 2021. No additional terms of the transaction were disclosed.

This move deepens the partnership between both entities that began in 2018.

iCapital said that it will use the investment to continue to build out the technical capabilities of its global alternative investing solution that supports more than US$130 billion in platform assets.

In March 2019, iCapital acquired Bank of America’s alternative investment feeder fund operations. This enabled the Bank of America to streamline and automate ongoing fund operations and administration services for Merrill and Private Bank advisors and their clients.

Since the initial agreement with Bank of America, iCapital has made a series of acquisitions and launches to expand its technical capabilities and broadened investment opportunities offered on its platform.

Lawrence Calcano

Lawrence Calcano

“We are honored to have the support of Bank of America to further iCapital’s mission to provide financial advisors with a complete alternative investing solution.

 

We look forward to continuing to work with the Bank of America team to enhance our platform to best meet the needs of its Merrill and Private Bank advisors seeking a range of alternative investments for their high-net-worth clients.”

said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital.

Nancy Fahmy

Nancy Fahmy

“iCapital and Bank of America share the belief that alternative investments are an important component of a well-diversified portfolio and it is critical to increase access, education and service to advisors and their clients.

 

Deepening our support of iCapital through a strategic investment is emblematic of the success of our collaborative relationship.”

said Nancy Fahmy, Head of Alternative Investments, Specialty Asset Management and Investment Solutions Specialists for Bank of America.

 

This article first appeared on Fintech News Switzerland

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US Infrastructure Fintech Prime Trust Raises $107m https://fintechnews.am/fintech-usa/47420/us-infrastructure-fintech-prime-trust-raises-107m/ https://fintechnews.am/fintech-usa/47420/us-infrastructure-fintech-prime-trust-raises-107m/#respond Fri, 24 Jun 2022 04:14:26 +0000 https://fintechnews.am/?p=47420 Prime Trust, a leading provider of financial infrastructure for fintech and digital asset innovators, announced that it has raised over $100 million in its Series B funding round. To date,

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Prime Trust, a leading provider of financial infrastructure for fintech and digital asset innovators, announced that it has raised over $100 million in its Series B funding round.

To date, Prime Trust has raised more than $170 million in funding and has become a category leader in infrastructure services for some of the world’s leading crypto exchanges, on ramps, wallet apps, ATSs, RIAs, broker dealers and banks.

A mix of new and existing investors have participated in the funding for the company’s Series B, which includes FIS, Fin Capital, Mercato Partners, Kraken Ventures, Commerce Ventures, William Blair & Company, Decasonic, University Growth Fund, Gaingels, GateCap Ventures, and Seven Peaks Ventures.

Rob Lee

Rob Lee

“FIS believes strongly in fostering a culture of innovation within our organization as well as within the broader fintech community,”

said Rob Lee, President, FIS Impact Ventures.

“Investing in an emerging leader in the Web 3 space is just one of the many ways FIS is accelerating fintech innovations for organizations of all sizes.”

Tom Pageler

Tom Pageler

“This strategic investment will provide critical operational expertise to further scale Prime Trust into new offerings including wealth products, as well as Web 3 and DeFi products,”

said Tom Pageler, CEO of Prime Trust.

“We’ve seen an unprecedented shift toward greater acceptance of digital assets among wealth managers and RIAs and, to that end, we launched the Prime Trust Crypto IRA, the first IRA solution with a seamless, single API integration. Our strategic investor relationships will enable us to continue to expand into new markets and deepen our commitment to helping our fintech and crypto clients to build and scale quickly, securely, and compliantly.”

Prime Trust supports some of the world’s largest brands such as Swan, Abra, Dapper Labs and Binance US and aims to help accelerate the global adoption of cryptocurrency. Whether the market is up or down, the efficiencies that Prime Trust provides still endure. The company’s offerings, such as fiat rails, compliance solutions, wallet technology and other plug and play products all come together in a quick and easy full stack to save clients time and money. Prime Trust streamlines all backend financial architecture quickly and at a competitive price, thus enabling clients to focus on their success, build their core businesses and serve their customers.

The company will use the new injection of $107 million of capital to continue investing in its products and services, as well as infrastructure to serve its global client base. The funding will help Prime Trust:

  • Launch new products like the Crypto IRA, Wealth and Staking products

    • Financial products like Crypto IRAs and Staking give people the ability to participate in crypto and build wealth through traditional and non-traditional means. With $37.5 trillion of American wealth in retirement accounts as of June 2022, Prime Trust’s Crypto IRAs are meeting the growing demand of the marketplace.

  • Enhance our ability to support tokenized products

    • Tokenized products create a new path for people and organizations to share or transfer ownership without a middleman. The technology is continuing to mature, but the industry has already seen multiple use cases of simplified trading and fundraising. Prime Trust anticipates its growth and further use in the decentralized and centralized worlds alike.

  • Increase investment in the stability and security of the Prime Trust Platform

    • Prime Trust is committed to providing outstanding service to enable customer success. To significantly improve the scalability of our platform, the company is updating its technology and migrating to a cutting-edge cloud architecture. Prime Trust is implementing modern Zero Trust security and bank-grade compliance to be the trusted platform of choice.

With nearly 700 fintech and digital asset clients, Prime Trust has established itself as a trusted partner among the fintech community with its innovative financial service APIs and security, regulatory, and compliance expertise. Since its Series A fundraise, announced in July 2021, Prime Trust has focused on making key hires, onboarding customers in new market segments, and creating better systems for maximum efficiency.

William Blair acted as exclusive financial advisor and Cooley LLP acted as legal advisor to Prime Trust on the Series B round.

 

Featured image credit: Edited from Freepik

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SEON Partners With Provenir to Improve Fraud Detection Solutions https://fintechnews.am/fintech-usa/47411/seon-partners-with-provenir-to-improve-fraud-detection-solutions/ https://fintechnews.am/fintech-usa/47411/seon-partners-with-provenir-to-improve-fraud-detection-solutions/#respond Wed, 22 Jun 2022 09:59:27 +0000 https://fintechnews.am/?p=47411 Fraud prevention platform SEON announced a new partnership with credit risk specialist Provenir to help organisations build better fraud prevention solutions. Through this partnership, Provenir provides an AI-powered decisioning platform

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Fraud prevention platform SEON announced a new partnership with credit risk specialist Provenir to help organisations build better fraud prevention solutions.

Through this partnership, Provenir provides an AI-powered decisioning platform that can assess risk in areas like identity, credit, and fraud.

The Provenir Marketplace provides organisations with a one-stop data hub that makes it easy to access information covering open banking, KYC/KYB, fraud, credit risk, verifications, social media, collections, affordability and more.

This comprehensive fintech data and business intelligence ecosystem brings together offerings from data vendors around the globe into one cloud solution for data consumption.

Meanwhil, SEON’s system can establish an individual’s digital footprint based on their email address, phone number, IP address, or location in real-time.

This GDPR-compliant approach to analysing a user’s digital footprint helps companies to accept more transactions while blocking fraudulent ones.

This service provides secure customer identification, while not interfering with the optimal customer journey.

The new partnership is now fully live, with SEON’s solution already helping to improve fraud detection performance in conjunction with Provenir’s platform.

Jimmy Fong

Jimmy Fong

Jimmy Fong, CCO of SEON commented,

“SEON and Provenir perfectly complement each other, which makes our new partnership a match made in heaven for businesses across a number of sectors. From the first interactions, it was clear that our two businesses’ visions were fully aligned. Now, together, we will improve experiences for users across the company’s platform, while reducing the risk of fraud.

“Provenir is a great partner as they target identity, fraud and credit risk. Now, with access to our data sources, the company is able to provide customers with more data choices to include in their credit risk management solutions. In addition, our technology is helping to enrich know-your-customer (KYC) checks to further mitigate the risk of fraud and to enable better customer decisions. By working collaboratively, we’re able to ensure this process is as seamless and straightforward as possible.”

Carol Hamilton

Carol Hamilton

Carol Hamilton, Senior Vice President, Global Solutions at Provenir added,

“We’re excited to have SEON join the Provenir Marketplace to help customers gain real-time insights from social and digital sources to verify identity and combat fraud.

 

SEON’s rich data and flexibility allows customers to customize their rules and risk models as needed to make instant, accurate decisions.”

 

This article first appeared on Fintech News Switzerland

Featured image credit: Edited from Freepik

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MoneyGram Launches Global Crypto-To-Cash Service in Canada and the U.S. https://fintechnews.am/fintech-usa/47397/moneygram-launches-global-crypto-to-cash-service/ https://fintechnews.am/fintech-usa/47397/moneygram-launches-global-crypto-to-cash-service/#respond Tue, 21 Jun 2022 06:34:51 +0000 https://fintechnews.am/?p=47397 MoneyGram has partnered the Stellar Development Foundation (SDF) with to initiate the roll out of  its crypto-to-cash service that is now available in key remittance markets, including Canada, the U.S.,

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MoneyGram has partnered the Stellar Development Foundation (SDF) with to initiate the roll out of  its crypto-to-cash service that is now available in key remittance markets, including Canada, the U.S., Kenya, and the Philippines for the first wave of users.

According to MoneyGram, global cash-out functionality is expected to be available by the end of June 2022.

Powered by the Stellar blockchain and Stellar-enabled digital wallets, MoneyGram’s retail agent network, and Circle’s USD Coin (USDC), a fully-reserved dollar digital currency, the service provides cash users access to cryptocurrency.

Users of the Stellar-connected digital wallets Vibrant and LOBSTR, with more wallets expected to be added soon, can now access this service at MoneyGram’s participating international retail locations.

Settlement with MoneyGram will occur in near-real-time using USDC, enabling an accelerated collection of funds, improving efficiencies and reducing risks.

With the launch of this service, digital wallet users can now move seamlessly from cash to cryptocurrency, to cash again — without requiring a bank account or credit card.

Consumers can now go into a MoneyGram location to either load their digital wallets or cash-out their digital currencies to increase the utility of their holdings.

MoneyGram will expand access to the cash-in service into seven more countries by the end of June, at which point cash-out functionality will also be available globally, where permitted by law.

To support adoption, MoneyGram will offer this as a zero-fee service for the first 12 months.

Alex Holmes moneygram

Alex Holmes

“At MoneyGram, we’re on a mission to deliver innovative financial solutions that connect the world’s communities, and the initial launch of this service is another important milestone on our journey.

 

It’s especially exciting to launch this service ahead of schedule due to the strong collaboration of our technology teams, and we look forward to further collaboration with SDF as we work on uncovering new ways to utilize blockchain to further streamline cross-border payments.”

said Alex Holmes, MoneyGram Chairman and CEO.

Denelle Dixon

Denelle Dixon

“A much-needed solution to the cash-to-crypto on/off-ramp problem is here. Today, almost 2 billion people rely on cash for their livelihood, with no options to access the digital economy. At the same time, a persistent pain point for crypto-native users is off-ramping cryptocurrency quickly and reliably.

 

The groundbreaking nature of this service is how it solves problems for a range of users with varying needs around the world.”

said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation.

 

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Salesforce Expands Social Commerce Offerings, Connecting Merchants With TikTok https://fintechnews.am/fintech-usa/47380/salesforce-expands-social-commerce-offerings-connecting-merchants-with-tiktok/ https://fintechnews.am/fintech-usa/47380/salesforce-expands-social-commerce-offerings-connecting-merchants-with-tiktok/#respond Thu, 09 Jun 2022 10:42:09 +0000 https://fintechnews.am/?p=47380 Salesforce is partnering with TikTok to make it easier for Commerce Cloud merchants to engage with the TikTok community, including advertising to users and making their products more discoverable. This

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Salesforce is partnering with TikTok to make it easier for Commerce Cloud merchants to engage with the TikTok community, including advertising to users and making their products more discoverable. This partnership is the latest Commerce Cloud platform investment to help businesses reach social-media-savvy shoppers.

Driving the news: Nearly one in 10 purchases are now made on social media, and that number is only increasing. With social commerce becoming an increasingly important channel, this partnership presents an opportunity for businesses to understand today’s social shoppers and curate highly-personalized content for TikTok’s 1 billion monthly users, giving consumers multiple opportunities to engage with their favorite brands at any time.

tiktok

The Salesforce perspective:

Scot Gillespie

Scot Gillespie

“Forward-looking brands need to have a presence anywhere their customers might want to meet them, so the boundaries of commerce must extend beyond any single channel and, on the back end, data has to flow across those channels so companies can deliver connected experiences efficiently,”

said Scot Gillespie, GM of Commerce Cloud.

“We’ve already made great strides in helping brands leverage the power of Customer 360 to seamlessly connect with their customers on social through integrations with platforms like Facebook and Instagram, and our partnership with TikTok is the next crucial piece of the puzzle.”

What’s the impact: To start, the partnership will enable merchants to seamlessly and efficiently build their presence on TikTok by:

  • Supercharging merchandiser productivity with automated smart product feeds through a rich in-app experience. Merchants can get their products published quickly and easily on TikTok via a diverse array of catalog-focused advertising solutions with simple one-click set up, which will sync pre-existing Commerce Cloud catalogs on TikTok.
  • Delivering world-class personalization and ad conversion efficiency with TikTok Pixel, which makes it quick and easy for merchants to analyze ad performance and optimize campaigns for improved product discovery. Advanced Matching also lets merchants better match TikTok ads and build audiences for retargeting.
  • Elevating the customer journey with dynamic video and collection ads to inspire new audiences across channels. Merchants can now easily add and launch TikTok as a new sales channel within Salesforce Commerce Cloud.

The TikTok view:

Melissa Yang

Melissa Yang

“TikTok is home to a new kind of commerce experience, where community, entertainment and commerce blend, creating unique opportunities to engage with consumers and drive impactful results,”

said Melissa Yang, Head of Ecosystem Partnerships at TikTok.

“We’re thrilled to be working with Salesforce to make it easier than ever for merchants to be discovered and authentically connect with the TikTok community.”

 

Dynamic-Showcase-Ads_1

Fast Facts:

  • According to Salesforce’s State of Connected Customer report, 57% of customers prefer to engage through digital channels, that number spikes to 65% for Gen Z and Millennial consumers.
  • 61% of consumers plan to shop more on social media over the next three years.

 

This article has been first published on Fintechnews.ch

Featured image credit: edited from Unsplash

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LevelField Selects METACO to Launch Digital Asset Management Capabilities on IBM Cloud https://fintechnews.am/fintech-usa/47350/levelfield-selects-metaco-to-launch-digital-asset-management-capabilities-on-ibm-cloud/ https://fintechnews.am/fintech-usa/47350/levelfield-selects-metaco-to-launch-digital-asset-management-capabilities-on-ibm-cloud/#respond Fri, 27 May 2022 05:06:07 +0000 https://fintechnews.am/?p=47350 LevelField Financial, the premier U.S. financial services firm uniting digital assets and traditional banking services in one trusted platform has selected Switzerland-based METACO, a specialist of digital asset custody orchestration

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LevelField Financial, the premier U.S. financial services firm uniting digital assets and traditional banking services in one trusted platform has selected Switzerland-based METACO, a specialist of digital asset custody orchestration technology to complex, global financial institutions. LevelField is deploying its institutional digital asset management operations on IBM Cloud in order to leverage the confidential computing capabilities of IBM’s digital asset infrastructure.

Founded by banking executives with decades of global experience, LevelField is in the process of acquiring a federally chartered bank in the United States. To launch its digital asset offering, LevelField will use METACO’s digital asset custody and orchestration platform, Harmonize, helping enable clients to securely store, trade, and settle digital assets. Harmonize was built in partnership with Tier 1 banks and offers the highest standards of security and compliance for LevelField to operate in the digital assets sector. This foundational infrastructure provides LevelField with the option to further expand its digital asset offering in the future, in a highly-scalable and efficient manner.

LevelField will deploy Harmonize, which is supported by IBM Cloud Hyper Protect Services. This setup will allow LevelField to scale to millions of wallets, while maintaining control over private keys for risk management. IBM’s Digital Asset Infrastructure is designed to help custodians achieve greater results when using METACO’s Harmonize platform, including enhanced scalability, security, and compliance.

IBM Cloud Hyper Protect Crypto Services is designed to enable METACO Vaults to store encrypted keys externally in a database while affording the protections of IBM’s FIPS 140-2 Level 4 rated hardware security modules (HSM). With external storage of keys enabled by IBM’s master encryption key technology, custodians can scale to billions of wallets. The sensitive processing on METACO Harmonize is secured by IBM Cloud Hyper Protect Virtual Servers hardware-based, Common Criteria-certified isolation. IBM Cloud Hyper Protect Secure Build Server is designed to reduce risks of malicious code insertion during Harmonize deployments and address unauthorized rule manipulation by working to make policies on the platform tamper proof. Irrespective of how Harmonize is consumed, custodians retain physical control of the root of trust of the assets and the policies that govern management of the assets, through the IBM HSM Smartcards.

Seamus Donoghue

Seamus Donoghue

Seamus Donoghue, VP of Strategic Alliances at METACO commented,

“We’re pleased to support LevelField in realizing its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future. Harmonize provides bank-grade security and compliance for the custody and management of digital assets, as well as the agility for innovative firms like LevelField to go-to-market and scale quickly. With a flexible governance policy framework that can be applied to any type of digital asset transaction, a no-single-point-of-failure model, and the optionality to expand and offer any type of digital asset services, Harmonize provides a highly secure and flexible foundation for LevelField to manage its digital asset operations, both today and well into the future.”

Established in Houston in 2018, and currently pending a banking charter, LevelField aims to blend digital banking, securities, and digital assets to provide a comprehensive banking service for the digital economy. The firm is building a customer- focused financial services platform for digital and traditional assets that leverages the strengths of the U.S. banking system, is built on a solid foundation of regulatory compliance, and draws on its management team’s expertise across traditional banking.

Michael Clayton

Michael Clayton

Michael Clayton, CTO, LevelField, commented,

“LevelField is comprised of career bankers who deeply understand the importance of compliance and security. We searched for the platform that would enable us to meet our rigorous standards for security and compliance, while also giving us the flexibility to grow our digital asset business in any direction. METACO’s Harmonize orchestration platform, supported by IBM Cloud Hyper Protect Services, is the ideal solution and something which may become the gold-standard in the industry. This infrastructure enables us to demonstrate our compliance and the highest levels of security no matter what area of digital assets we expand into.”

METACO, the leading technology provider in the digital asset ecosystem, has significant implementations with Tier 1 banks, exchanges and other financial institutions. Its platform, Harmonize, delivers the most secure, compliant and flexible custody solution in the market, in combination with the end-to-end, secure orchestration of workflows and governance processes across the entire digital asset stack, with no single point of compromise.

 

Featured image credit: Edited from Unsplash

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Huobi Global Steps up Latin America Presence With Bitex Acquisition https://fintechnews.am/fintech-latin-america/47343/huobi-global-steps-up-latin-america-presence-with-bitex-acquisition/ https://fintechnews.am/fintech-latin-america/47343/huobi-global-steps-up-latin-america-presence-with-bitex-acquisition/#respond Fri, 27 May 2022 05:04:05 +0000 https://fintechnews.am/?p=47343 Huobi Global announced the acquisition of Bitex, one of the first regional cryptocurrency exchanges in Latin America, as it moves to expand its footprint in the fast-growing region. The terms

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Huobi Global announced the acquisition of Bitex, one of the first regional cryptocurrency exchanges in Latin America, as it moves to expand its footprint in the fast-growing region. The terms of the deal are confidential and were not disclosed.

Founded in 2014, Bitex has an extensive network in Argentina, Chile, Paraguay, and Uruguay. Huobi Global plans to integrate Bitex’s exchange operations with Huobi Global’s platform, enabling users in Latin America to trade all digital assets available on Huobi Global. Post-integration, Bitex will retain its branding and continue to be independently run by its current management team.

With a population of nearly 665 million, Latin America ranks fifth in the world for cryptocurrency adoption and consistently captures between 8% and 10% of global cryptocurrency activity. The region saw the use of cryptocurrencies rise by 1,370% from 2019 to 2021, with Venezuela and Argentina ranking seventh and tenth, respectively, in the 2021 Global Crypto Adoption Index published by Chainalysis.

Jeffrey Ma

Jeffrey Ma

“Since Huobi Group first entered the Latin American market, we have seen remarkable growth there and are bullish on our prospects for the region. We are pleased to partner with an established player like Bitex, as we look to grow our footprint in Latin America. Our partnership will enable more users to trade with Huobi’s proven security, liquidity, and stability,”

said Jeffrey Ma, Global Head of M&A at Huobi Group.

Currently, only about half of Latin American’s population own bank accounts. Through this acquisition, Huobi Global hopes to meet this growing appetite for alternative financial services through blockchain technology. We intend to add more local fiat currencies and work with local partners to expand our ecosystem into Latin America.

Francisco Buero

Francisco Buero

Bitex CEO Francisco Buero said:

“Bitex was founded to protect the value of our users’ money, in the wake of major financial crises in Latin America. Having grown rapidly after eight years of successful operations, we believe our partnership with Huobi Global will not only support our expansion, but also help us better serve our customers, enabling them to access a broader range of digital assets on Huobi Global’s platform. Additionally, Huobi Global’s strong track record in security will help safeguard our important mission as we continue to operate as a borderless exchange.”

Huobi Group marked its first foray into Latin America with the launch of Huobi Argentina in 2019, drawn by the increasing demand for crypto-related products and services in the market. In 2020, Huobi Argentina introduced fiat-to-crypto pairing between the Argentine Peso and both Bitcoin (BTC) and Tether (USDT). Last year, it also added five payment methods to improve users’ trading experience and increase the liquidity of its market.

 

Featured image credit: edited from Unsplash

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Wolters Kluwer Rolls Out Its OmniVault for Real Estate Finance Solution https://fintechnews.am/fintech-usa/47336/wolters-kluwer-rolls-out-its-omnivault-for-real-estate-finance-solution/ https://fintechnews.am/fintech-usa/47336/wolters-kluwer-rolls-out-its-omnivault-for-real-estate-finance-solution/#respond Tue, 17 May 2022 06:32:20 +0000 https://fintechnews.am/?p=47336 Wolters Kluwer Compliance Solutions announced that it has launched its OmniVault for Real Estate Finance solution. OmniVault for Real Estate Finance uses the company’s eVault technology to support digital home equity lending,

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Wolters Kluwer Compliance Solutions announced that it has launched its OmniVault for Real Estate Finance solution.

OmniVault for Real Estate Finance uses the company’s eVault technology to support digital home equity lending, both HELOCs and home equity loans, in addition to already supported conventional, U.S. government and jumbo first mortgages.

Wolters Kluwer’s technology enables institutions to originate digital HELOCs as a Digital Original®, rather than just a PDF or a paper document.

When a HELOC is created within the OmniVault for Real Estate Finance offering, it establishes the Digital Original® of the HELOC, ensuring verifiable ownership and control, and enabling the sale, transferability, pledging, syndication and securitization of these digital assets.

The offering includes a digitally sealed audit trail providing an irrefutable chain of custody and evidence for the digital assets.

Wolters Kluwer’s proprietary technology has been around for over 20 years and supports both Mortgage Electronic Registrations Systems (MERS®) and non-MERS® eRegistry transactions.

Like Wolters Kluwer mortgage eNotes, digital HELOCs can be stored, managed and easily transferred in and out of an eVault on a single platform.

The OmniVault Real Estate Finance solution provides clients with the same user experience and visibility across all asset classes.

With Wolters Kluwer’s Rapid Deployment Solution (RDS), lenders can be using its platform for HELOCs within two weeks.

Steven Meirink

Steven Meirink

Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions said,

“Being able to offer digital HELOCs will help lenders differentiate their customer experience, while our OmniVault will give institutions simple, consistent ways to originate and manage digital real estate assets across their organizations.

 

Many of the largest financial institutions are already Wolters Kluwer eOriginal clients, so leveraging OmniVault by adding digital HELOCs can easily be done under their current MSAs.”

Simon Moir

Simon Moir

Simon Moir, Vice President and Segment Leader, GRC Banking Compliance, Wolters Kluwer Compliance Solutions, added:

“Today, most HELOCs are held on balance sheets, but there are early signs that a secondary market is developing for these products. If this comes to fruition, the ability to quickly move digital assets to investors or into securities will take on greater importance.

 

Wolters Kluwer’s technology has already been used in more than 456 Asset Backed Securities (ABS) securitizations valued at over $164 billion and is firmly embedded in the ABS and Residential Mortgage-Backed Securities (RMBS) ecosystems.”

 

This article first appeared on Fintech News Switzerland

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Colombian Proptech Habi Attains Unicorn Status With US$200 Million Series C https://fintechnews.am/fintech-colombia/47326/colombian-proptech-habi-attains-unicorn-status-with-us200-million-series-c/ https://fintechnews.am/fintech-colombia/47326/colombian-proptech-habi-attains-unicorn-status-with-us200-million-series-c/#respond Mon, 16 May 2022 03:49:55 +0000 https://fintechnews.am/?p=47326 Habi, a Colombian data-driven residential real estate platform, announced that it has raised US$200 million in equity in its Series C funding round, The company said that it is the

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Habi, a Colombian data-driven residential real estate platform, announced that it has raised US$200 million in equity in its Series C funding round,

The company said that it is the first proptech unicorn with a female founder and CEO in Latin America.

The funding round was led by Homebrew and SoftBank Latin America Funds, with participation from Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte, Tiger Global, Inspired Capital, Clocktower Ventures, Endeavor Catalyst and Henry Kravis, among others.

Habi said that it will use the capital raised in its Series C round to continue to expand its geographic presence on a path to cover all major cities across Spanish-speaking Latin America and deepen its suite of offerings, with a focus on embedded financial services.

This announcement comes on the heels of its US$100 million Series B funding round in June 2021 led by the SoftBank Latin America Fund alongside previous investors Inspired Capital, Tiger Global, Homebrew, and 8VC. The funds allowed Habi to expand its footprint into Mexico.

Habi now operates in more than 15 cities in Mexico and Colombia, representing an estimated population of over 60 million.

Brynne McNulty Rojas

Brynne McNulty Rojas

Brynne McNulty Rojas, Co-Founder and CEO of Habi said,

“We’re thrilled with the progress we’ve made in the short time since our last funding round.

 

With strong partnerships and an expanded market presence, we are at the very early stages of building out the infrastructure to provide much-needed information, trust and liquidity to a housing market that desperately needs it—one we estimate at $2 trillion across cities in Spanish-speaking Latin America.”

Sebastian Noguera

Sebastian Noguera

Sebastian Noguera, Co-Founder and President of Habi added,

“We are extremely proud that we have built a world-class team that continues to demonstrate a deep commitment to our customers and who are building out innovative, proprietary tools with the underlying goal of democratizing the homebuying process for millions of consumers.”

 

 

 

Featured image: (L-R) Brynne McNulty Rojas, Co-Founder and CEO of Habi and Sebastian Noguera, Co-Founder and President of Habi

This article first appeared on Fintech News Switzerland

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LexisNexis Risk Solutions Acquires Behavioral Biometric Tech Provider BehavioSec https://fintechnews.am/fintech-usa/47321/lexisnexis-risk-solutions-acquires-behavioral-biometric-tech-provider-behaviosec/ https://fintechnews.am/fintech-usa/47321/lexisnexis-risk-solutions-acquires-behavioral-biometric-tech-provider-behaviosec/#respond Tue, 10 May 2022 09:13:08 +0000 https://fintechnews.am/?p=47321 LexisNexis Risk Solutions, which is a part of RELX, has announced the acquisition of BehavioSec, an advanced behavioral biometrics technology provider. Founded in Sweden in 2008 with a presence in

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LexisNexis Risk Solutions, which is a part of RELX, has announced the acquisition of BehavioSec, an advanced behavioral biometrics technology provider.

Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioral biometrics solution that uses behavior analysis for continuous authentication to establish identity trust and help prevent fraud.

Solutions from BehavioSec will become a part of the Business Services group within LexisNexis Risk Solutions and enhance its device and digital identity-focused offerings, such as LexisNexis ThreatMetrix.

BehavioSec brings the ability to convert complex mobile signals from touchscreen and sensors into rules and advanced mobile behavioral biometric-based authentication capabilities, complementing the browser-based solutions within ThreatMetrix.

By integrating offerings from BehavioSec into ThreatMetrix, customers will also benefit from continuous authentication, advanced machine learning capabilities and additional behavioral data for enhanced authentication processes.

The new fraud prevention tool will allow access to behavioral biometric solutions by larger organizations when combined with ThreatMetrix, while serving small to mid-sized organizations seeking a stand-alone behavioral biometrics offering.

Rick Trainor

Rick Trainor

Rick Trainor, Business Services CEO at LexisNexis Risk Solutions said,

“Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today.

 

Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction across the consumer journey.”

Dr. Neil Costigan

Dr. Neil Costigan

Dr. Neil Costigan, CEO of BehavioSec, added,

“I am looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities.”

 

 

This article first appeared on Fintech News Switzerland

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