Financial Management, Fintech
PR Newswire | August 22, 2023
Treasury Prime, a leading embedded banking software company, today announced its strategic partnership with Liberty Bank, N.A., a full-service commercial bank supporting markets across California, to offer innovative embedded banking solutions to customers in the fintech space. Through the collaboration, Liberty Bank, N.A. will work with businesses on the Treasury Prime platform to create new channels for end users to interact and consume its comprehensive suite of financial services, including Deposit Accounts, ACH, and Wires.
This partnership addresses the increasing demand for flexible and scalable embedded banking solutions that effectively meet the evolving needs of businesses and customers, with a specific focus on fostering growth among a diverse range of businesses, facilitating B2C and B2B payments, and supporting e-commerce companies and real estate professional. Treasury Prime fosters innovation responsibly in today's regulatory climate.
"Joining Treasury Prime's network enables Liberty Bank, N.A. to drive deposit growth and fee income while offering seamless banking experiences to a diverse customer base. This strategic partnership empowers both companies to stay competitive, attract new clients, and capitalize on cutting-edge technologies in the ever-evolving fintech landscape," said Jeff Nowicki, VP of Banking at Treasury Prime.
"We chose to work with Treasury Prime because we recognize the growing demand for innovative financial solutions and the need for banks to enhance their technology offerings to stay ahead in the digital landscape," said Don M. Griffith, Chairman and CEO of Liberty Bank N.A. "Embracing these solutions is crucial to meet the evolving needs of businesses and customers and to ensure that we remain at the forefront of the banking industry's transformation."
This partnership builds upon Treasury Prime's success in expanding its bank network, which now encompasses over 16 financial institutions nationwide.
About Treasury Prime
Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile embedded banking products, Treasury Prime enables banks and enterprise partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps enterprises with a range of complex services including money transfer, risk mitigation and access to a chartered bank's infrastructure. Treasury Prime works with forward-thinking banks to innovate responsibly and increase access to banking products and services to all segments of the population. Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and 2022, and was named to CB Insights' annual 2021 Fintech 250 list.
About Liberty Bank
Liberty Bank, N.A. is a $550 million OCC-chartered bank based in Irvine, California. As a full-service commercial bank, Liberty Bank, N.A. supports businesses and entrepreneurs in the Southern California markets of greater Orange County and Los Angeles County, as well as the Northern California markets of San Francisco, San Mateo County and Santa Cruz County, including communities in San Lorenzo Valley. The Bank has a balance sheet that has strong capital ratios and a clean loan portfolio. The Bank's vision is to deliver a scalable and competitive banking platform designed for growth and exceptional client service that enables integration of future acquisitions. The executive officers and many of the staff are all alumni of, and were instrumental in, the success of Grandpoint Bank, which operated in Los Angeles from 2010 until it was sold in 2018.
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Financial Management, Investments
PRnewswire | July 28, 2023
Finastra, a global provider of financial software applications and marketplaces is partnering with MX Technologies, Inc., an industry leader in Open Finance, to provide more seamless, personalized money experiences by integrating MX's Personal Financial Management (PFM), Insights, and Account Aggregation solutions with Finastra's Fusion Digital Banking solution.
"Consumers are looking to their financial providers to help them better manage their money and guide them toward financial health. By partnering with Finastra, we're enabling more than 150 financial institutions using the Fusion Digital Banking solution to improve the money experience and meet consumer needs with personalized recommendations, services, and tools," said Raymond den Hond, Chief Commercial Officer, Partners, at MX.
With the integration of MX and Fusion Digital Banking, financial institutions can provide consumers with a robust set of PFM and financial wellness tools, including budgeting and debt management, personalized, proactive insights based on their spending and saving behaviors, and the ability to create a consolidated view of their finances by connecting all of their financial accounts.
In addition, financial institutions can better identify when, where, and how consumers are engaging with their finances with enhanced data and customer analytics. This enables financial institutions to increase member engagement and retention, drive financial wellness, and uncover new business growth opportunities.
"Finastra is thrilled to partner with MX to offer our customers new tools to help support an enhanced customer experience," said Peter Longo, Vice President, Product Management at Finastra. "As the industry continues to embrace Open Finance and account holders look for more holistic solutions to manage their finances, it is critical that we bring in the right partners to help provide what today's banking customers have come to expect. We look forward to working with MX to bring the benefits of Open Finance to more banks across the United States."
About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world's top 50 banks.
About MX
MX Technologies, Inc., a leader in Open Finance, helps organizations everywhere connect to the world's financial data and turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences. MX connects more than 13,000 financial institutions and fintechs providing the industry's most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers.
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Payments, Fintech
Business Wire | August 29, 2023
TSG (The Strawhecker Group), a globally recognized analytics, intelligence, and solutions-focused firm in the payments industry, is excited to launch TruMonitor, a new SaaS product and component of the firm’s Global Experience Monitoring (GEM) platform.
GEM is a data-driven service that gives payments providers real-time insights to optimize experiences from the merchant, developer, and technical perspectives. TruMonitor caters to the technical perspective by providing 24x7 monitoring and alerts for APIs, websites, and multi-step processes.
When evaluating the top fifty U.S. merchant acquiring homepages, TruMonitor identified that PayPal and Fiserv had the fastest websites, nearly four times faster than average.* TSG also monitored Contact pages, a key destination for prospective merchants, and found that Clearent, Global Payments, First American Payment Systems, and Fiserv experienced the fastest response times below .1 second, nearly five times quicker than the average.
Additionally, TruMonitor found that twelve percent of the top fifty experienced outages on their homepage during a seven-day monitoring period, while fourteen percent had outages on their Contact page.
“For merchants looking to accept payments, speed and uptime matters,” said Al Novacek, Senior Director of Product Operations at TSG. “Response times, outages, and other errors can all impact a company’s perception and ultimately their bottom line.”
From monitoring shopping carts and identifying bottlenecks to ensuring merchant application sites are live and functioning, TruMonitor goes beyond the basic functionality of competing products to connect payments, merchants, and everything in between so users can protect brands, reputation, and revenue.
“There is a real need for customized monitoring for the payments industry,” said Mike Strawhecker, President at TSG. “TruMonitor solves that need through personalized service that empowers GEM subscribers to track and benchmark vendors, competitors, and API performance. The product reflects the same goal of the overall GEM suite: help companies avoid pitfalls, lost revenue, and poor user experiences.”
TruMonitor includes monitoring for websites, multi-step/click stream processes, networks/services (DNS, FTP, email, traceroute), and APIs. Users of the product enjoy real-time performance alerts, a customizable portal to monitor connections 24x7, daily automated reporting, training, support, and more. TSG maintains over 40 monitoring stations across North America, South America, Europe, and Asia-Pacific to sync data from multiple locations, eliminating false alerts.
In addition to TruMonitor, GEM subscribers benefit from real (not synthetic) transaction metrics, and annual API set and developer roadmap assessments. Subscribing companies account for an estimated 62% of all payment gateway volume in the U.S., and the platform helps them increase customer retention by 5% or more. TruMonitor is also available to purchase as a standalone platform.
About TSG
TSG (The Strawhecker Group) is a globally recognized analytics and consulting firm that supports the entire payments ecosystem, serving over 1,000 clients from Fortune 500 leaders to more than a dozen of the world's most valuable brands. Trusted by industry leaders, TSG's strategic services, market intelligence, and analytics merge to empower clients with actionable and accessible information. Please visit www.tsgpayments.com.
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