Sushi | January 19, 2022
In a major milestone for the project, a leading payment and decentralized finance (DeFi) blockchain player, Fuse Network, today announced their integration with leading mutlichain DeFi protocol Sushi. This comes after rapid platform and ecosystem growth for Fuse.
Launched in 2020, Sushi's components include a decentralized exchange (DEX) protocol, the Kashi lending protocol, the BentoBox dApps ecosystem, the xSUSHI staking platform, the Miso initial DEX offering (IDO) platform and the upcoming Shōyu NFT marketplace. Sushi's native SUSHI token powers the platform's governance and is used to reward the liquidity providers on the incentivized trading pools on SushiSwap.
As part of the integration, the SushiSwap automated market maker (AMM)-based decentralized exchange (DEX) and the liquidity provisioning interface have been deployed to the Fuse Network blockchain. At a later stage, the Kashi lending network and Miso initial DEX offering platform will be added.
In order to bootstrap liquidity to the new major DEX, Fuse will also launch liquidity rewards programs on certain trading pools on SushiSwap. The exact trading pools and details of the program will be announced separately.
Sushi is a multichain powerhouse in the DeFi space that was among the technology's pioneers before it was cool. Sushi's extension to Fuse is testimony to the progress that Fuse has made since its launch and its unique value proposition as a mobile-centric blockchain platform."
Fuse Network CEO Mark Smargon
Fuse is a platform featuring a fast and low-cost, Ethereum-compatible blockchain, a robust plug-and-play mobile-centric crypto payments infrastructure for creating token-based applications and a rapidly growing ecosystem of payments, decentralized finance and NFT projects.
Sushi is a leading all-in-one DeFi platform and ecosystem running on multiple EVM-compatible blockchains. At its core it relies on the AMM-based DEX SushiSwap that is listed in the top 5 DEXes by trading volume. Sushi's community governance is powered by the protocol's native SUSHI token.
Ncontracts, QuestSoft Corporation | January 07, 2021
Ncontracts, the leading supplier of integrated risk management solutions for the financial services industry, reported that it has gained QuestSoft Corporation, a main supplier of compliance software and services for the mortgage, bank and credit union ventures.
Consolidating Ncontracts with QuestSoft will be extraordinary for customers and for the business. The mix makes an incredible end-to-end risk and compliance suite remarkably empowering financial institutions to develop and prevail in the advancing regulatory climate.
"Leonard and his team have built an outstanding company and culture with an incredible set of customers and partners," said Michael Berman, CEO of Ncontracts. "This is a tremendous combination for our customers. Together, Ncontracts and QuestSoft will help financial institutions and mortgage companies not only meet the increasing needs and complexities of today's regulatory environment but prepare them for the future. The combination of our teams and solutions creates tremendous value to our clients and the financial services industry."
With the acquisition, Ncontracts will currently offer the most complete arrangement of abilities to survey and monitor risk and compliance for financial services organizations, which incorporates banks, credit unions, mortgage organizations, and fintechs, to ensure that data required for compliance and risk management is safely and consistently shared across the whole association.
"We're extremely excited to bring our company together with an industry leader like Ncontracts," said Leonard Ryan, founder and President of QuestSoft Corporation. "Our software and products have helped thousands of financial institutions and mortgage companies deal with regulatory requirements from HMDA, CRA, and Fair Lending regulations to automated digital compliance and other needed regulatory requirements. Bringing our capabilities and insights together with the leadership and reach of a company like Ncontracts is great news for our 2700 customers around the country and the industry at large."
Ncontract's integrated risk management arrangement empowers banks, credit unions, mortgage lenders, and fintech organizations in every one of the 50 states to automate their risk management and compliance exercises. Customers save time in evaluating and overseeing risks identified with the financial items they market to buyers and guarantee that their compliance exercises are precise and complete. The requirement for this "RegTech" software has gotten more basic as government and state guidelines have gotten more perplexing, and as the effect of COVID-19, PPP credits, and lending diversity and equity initiatives keep on advancing. The consolidated organization will have more than 260 representatives and in excess of 3700 financial institutions and mortgage organizations around the nation.
"With the addition of the QuestSoft products and expertise to our existing lending compliance solutions we now have the ability to deliver the most comprehensive set of integrated risk management offerings available in the marketplace," said Michael Berman. "And with the backing of our financial partner, Gryphon Investors, we continue to build on our next phase of growth and look forward to integrating our products and companies together with a strong focus on delivering solutions for our combined customer base in the coming years."
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of nearly 1500 financial institutions located in all 50 states and US territories. The company's powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite that encompasses vendor risk, organizational risk, audit risk, and compliance risk management.
QuestSoft Corporation is the leading provider of comprehensive compliance software and services for the mortgage, bank and credit union industries. QuestSoft offers solutions for HMDA processing and reporting, CRA and fair lending compliance analytics, automated compliance reviews and software design expertise, enabling more than 2700 customers to simplify and speed the collection, analysis and reporting of key lending data.
DriveWealth, Plaid | March 31, 2021
DriveWealth, a global brokerage infrastructure platform, announced a new collaboration with Plaid, a financial data network, to provide users of both platforms with convenient online investment account support.
Customers of both companies can use Plaid to authenticate their end users' bank accounts and receive tokens that provide swift, safe bank funding source authentication through the DriveWealth API. This improves the Automated Clearing House's performance rate, increases the transparency of transactions, and protects consumer privacy.
“While wealth management technology has vastly advanced over the last decade, there is still so much uncertainty that keeps people from investing their money as they want,” said Paul Williamson, Plaid's head of revenue, “Companies like DriveWealth are shifting that, and this alliance blends Plaid's and DriveWealth's strengths to make digital investments much easier.”
According to Bob Cortright, CEO of DriveWealth, the collaboration would allow “FinTechs and banks to investment advisors and RIAs to easily and securely add investment capabilities to their current offerings through a simple API,” allowing more customers equal access to investing in American markets.
DriveWealth, based in Chatham, New Jersey, bills itself as a “pioneer in fractional investing and data finance” committed to democratizing access to US equities for investors worldwide.
Plaid Exchange, an API platform developed specifically to help financial institutions access customer-permissioned data, was introduced last year.
“We believe APIs are the future of open finance, and we want to make it as simple as possible for all financial institutions to integrate APIs into their broader digital transformation agendas, regardless of budget size and resources,” said Niko Karvounis, product lead at Plaid.
According to surveys, one of the most difficult issues facing banking executives is combining legacy systems with emerging FinTech apps.