CORE BANKING, FINTECH
Quaint Oak Bank | November 25, 2022
Quaint Oak Bank, a Pennsylvania-based community bank, will leverage Cable’s centralized platform to enhance financial crime compliance oversight across its fintech partner portfolio, using Cable’s suite of automated and smart tools to efficiently onboard and continuously monitor its fintech partners on a single platform.
“We are excited to partner with Cable to scale our fintech sponsorship program in a safe and sound manner, Our primary responsibility as a partner bank is to ensure that every fintech program complies with applicable banking and consumer protection regulations, with a heightened focus on combating money laundering, identity theft, and other financial crime related activities. Cable’s real-time integrated platform provides us the visibility and unrestricted access necessary to identify and target compliance deficiencies quickly and efficiently. Deploying Cable aligns perfectly with our enterprise-wide initiative to leverage technology for accuracy and scalability. We believe by using Cable we can onboard our partners faster, have significantly greater oversight of their financial crime controls, provide a streamlined experience for our partners, and give us greater assurance about our compliance.”
-William Gonzalez, EVP of Quaint Oak Bank
Cable gives partner banks such as Quaint Oak Bank and other institutions confidence in their compliance with financial crime requirements, providing a single platform for conducting tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more.
We are honored to partner with Quaint Oak Bank to help grow its fintech partner program, Our technology will help them meet regulatory requirements and launch fintech partners faster, while implementing oversight processes that scale seamlessly as its business expands,said Natasha Vernier, Cable CEO.
There is a lot of opportunity now to level up partner bank oversight of fintech partners. We’re excited to build our relationship with Quaint Oak Bank and raise the bar on what’s possible for fintech partner management together.
FINANCIAL MANAGEMENT, WEALTH MANAGEMENT
Quantifeed | November 25, 2022
QUANTIFEED, the leading provider of digital wealth management solutions, announces that it has acquired ALPIMA, a London-based portfolio construction, visualisation, and analytics fintech company.
"We are very excited about bringing together two hugely talented teams of financial engineers to create a world-class technology platform, This transaction accelerates our mission to increase the productivity of investment professionals and to create better investment outcomes for their clients."
-Alex Ypsilanti, Co-Founder and CEO of Quantifeed
The automation of portfolio management is a key priority for many organisations in the wealth and investment management industries. The combined platform will provide unparalleled capability across the full portfolio management spectrum – including construction, personalisation, visualisation, risk analytics, order management and trading, and monitoring and reporting. The platform's modular nature allows clients to assemble solutions that are optimised for their business. Quantifeed will be in a unique position to service clients across EMEA, Asia, and the Americas as they look to grow their business more efficiently and create smarter solutions for their clients.
This is a significant milestone for us, we are delighted to join the Quantifeed family and combine our leading technology to create a global platform, Quantifeed shares our passion for designing and building technology solutions that solve client problems and help them deliver a personalised client experience at scale. I am thrilled for the opportunity to make ALPIMA's solutions available to a global client base,said Rafael Febres-Cordero, Executive Chair of ALPIMA.
As part of the transaction, Fidelity International Strategic Ventures (FISV), a strategic investor in fintech businesses, joins Quantifeed as a shareholder. "We are delighted to complete the transaction and welcome Quantifeed to the FISV portfolio, The acquisition marks the culmination of a tremendous amount of work from the teams at ALPIMA and Quantifeed, who share a similar culture, ethos, and vision. We're excited to work with the team as they build a global leader in modern, scalable, digital wealth management,said Michael Sim, Principal at FISV.
In May 2022, Quantifeed announced its Series C funding round that was led by HSBC Asset Management and joined by LUN Partners Group, Franklin Templeton, and Daiwa PI Partners.
Brankas | November 24, 2022
Open Finance technology leader Brankas has developed "Brankas Open", a first-of-its-kind open source license for the next generation of Banking-as-a-Service and Open Finance software.
The "Brankas Open" license is meant to encourage digital banking and fintech innovation and lower the cost barriers for startups, neobanks, and even traditional institutions to quickly prototype and launch new solutions, while retaining their own source code. Customers will benefit from more choice and better user experience, as companies have open access to use, modify, redistribute, and collaborate on the publicly available Brankas Open code.
The inspiration for Brankas Open came when Brankas received a grant from the Monetary Authority of Singapore in November 2021 to develop Brankas APIX Open Core, a proof of concept open source core banking system.
Recognizing the need for a modernized Open Source framework to address new Open Finance technology, Brankas looked to existing open-source licensing frameworks in order to develop Brankas Open. Brankas felt that this framework was necessary to protect community contributions, ensure open access, and comply with financial institutions' data protection and security requirements.
"Brankas' Open license allows our team to build and contribute in a way that is fair, equitable, and open to independent developers, FIs, and to our partners. With this license, Brankas is able to continue to invest in the greater open source community, and to share our code freely with the world,"
- Brankas co-founder and CTO, Kenneth Shaw
Brankas has been advised by Ren Jun Lim, Alex Toh and Darren Leong from Baker McKenzie's Singapore-based Intellectual Property and Technology (IPTech) practice group.
Brankas is the leading Open Finance technology provider in Southeast Asia. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure Open Banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.
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