BITCOIN AND CRYPTO

Bloomberg to Enrich Institutional Cryptocurrency Capabilities with Elwood Technologies

Bloomberg | February 25, 2022

Bloomberg_to_Enrich
Bloomberg and Elwood Technologies announced their strategic integration to enrich institutional cryptocurrency capabilities. The integration will enable clients’ investments using Elwood's market-leading cryptocurrency trading platform—AIM.

The new comprehensive crypto native solution byElwood will deliver deep liquidity and extensive market data. This infrastructure is the gateway for institutional access to digital assets. The integration combinesElwood's institutional cryptocurrency trading capabilities with Bloomberg's data, workflow tools, analytics, and m, monitoring system. These will enable the financial institutions and investment managers on the AIM platform. This platform's unified investment process can capture and manage their crypto investments. It’s also beenElwood will adopt the Financial Instrument Global Identifier (FIGI) for crypto assets as the common identifier for the integration.

We are very pleased to offer Bloomberg AIM clients integrated access to Elwood's market-leading cryptocurrency trading platform. It has always been our goal to provide clients with the cutting-edge capabilities necessary to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies.”

Ian Peckett, Global Head of Buy-Side Product at Bloomberg.

The integration with Elwood represents Bloomberg's 'Buy Side from Every Side' philosophy and commitment. This commitment willallow clients to maintain the complete portfolio perspective for risk and exposure management when investing in innovative and alternative products.

This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect. We look forward to working closely with Bloomberg to simplify institutional access to the cryptocurrency market. The most important part not to be missed is that the integration is expected to be completed and available for mutual clients of Elwood and Bloomberg AIM in Q2 2022."

James Stickland, CEO of Elwood Technologies.

Spotlight

Today’s retailers need agility and flexibility to remain competitive and adapt to our changing world. That’s why you see more and more heritage brands, CPG brands, direct-to-consumer brands, and B2B players saying goodbye to their traditional monolithic architecture and hello to headless commerce. E-commerce industry experts pre

Spotlight

Today’s retailers need agility and flexibility to remain competitive and adapt to our changing world. That’s why you see more and more heritage brands, CPG brands, direct-to-consumer brands, and B2B players saying goodbye to their traditional monolithic architecture and hello to headless commerce. E-commerce industry experts pre

Related News

FINANCIAL MANAGEMENT, FINTECH

Cross River and FinClusive Partner to Strengthen the Fintech Ecosystem and Increase Responsible Access to Financial Services

Businesswire | April 04, 2023

Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, today announced a partnership with FinClusive, a global Compliance-as-a-Service (CaaS) infrastructure provider for financial services, to provide account and payment services to advance secure and compliant access to the financially underserved. “Regulatory compliance, responsibility and transparency are central to Cross River, and we continue to expand our partnerships with technology leaders focused on increasing financial access,” said Gilles Gade, Founder, President and CEO of Cross River. “Both Cross River and FinClusive share fundamental values and a compliance-driven approach.” Cross River is a strong advocate for regulatory modernization in order to create clear guidelines and standards in the fintech industry without compromising accessibility to safe, sound, compliant and affordable financial services. FinClusive’s comprehensive Compliance-as-a-Service (CaaS) technology enables fintechs to grow in a responsible manner. Cross River remains focused on partners who share a forward-looking and streamlined compliance approach, ultimately strengthening the broader fintech ecosystem. FinClusive and Cross River partnered to bring expanded payment optionality to FinClusive’s platform earlier this year. "In an uncertain industry environment—with ongoing challenges impacting both traditional and alternative financial services providers—this partnership is another example of our unwavering commitment to accountability and responsible governance within the financial system. Our partnership provides local communities with much-needed, reliable access to comprehensive compliance capabilities and demonstrates our shared commitment to innovation and compliance in tandem," said Amit Sharma, CEO of FinClusive. FinClusive’s unique CaaS application and digital gateway embeds compliance-backed identity credentials into network transactions and enable both the secure onboarding of new clients, as well as continuous validation and verification downstream. This creates both cost and process efficiencies while ensuring application of global financial crimes compliance standards across any payment rail, traditional or alternative. Together, Cross River will provide enhanced payment capabilities, connectivity to the U.S. banking system and community access, while FinClusive will ensure the necessary consumer and business protections inherent to preserving financial system integrity. The FinClusive leadership team consists of senior executives from global financial institutions, technology companies, federal government and financial regulatory agencies, and international law firms. CEO of FinClusive, Amit Sharma, previously served as Chief of Staff to the Deputy Secretary and Senior Advisor, Terrorism and Financial Intelligence of the US Dept of Treasury. The company’s compliance enabled credentialing environment platform was designed and built by Dennis Paige, CTO and a cofounder of FinClusive. Previously he served as senior examiner for technology and risk at the Federal Reserve Bank of New York and prior to the NY Fed, was the security architect and program manager for the Security & Fraud, Payments & Cash Management Unit at HSBC, and also ran security architecture at the New York Stock Exchange (NYSE). Co-founder, board member and legal counsel, John A. Squires, established FinClusive’s financial partner engagement platform. Mr. Squires was previously chief intellectual property counsel for Goldman, Sachs & Co. and co-founder of Regulatory DataCorp – now part of Moodys, He is also a principal drafter of the global compliance and inclusive finance working group’s The Rulebook, an open-source set of technology standards and self-regulatory best practices to increase safe, secure and compliant access to the global financial system. About FinClusive FinClusive is a global Compliance-as-a-Service (CaaS) infrastructure provider that enables increased financial engagement by facilitating traditional banking’s connectivity with emerging technology networks, existing and alternative payment rails and financial services providers. FinClusive’s, full-stack, financial crimes compliance/anti-money laundering Compliance-Enabled Credentialing Environment (CECE ™) platform and its Gateway seamlessly embed digitally verifiable compliance credentials into both the customer onboarding and transacting processes. This allows its banking and payment partners to confidently demonstrate compliance with global banking standards, while expanding their services and engagement to businesses, communities and alternative technologies that have been traditionally underserved or unwelcomed within in the global financial system. Learn more at www.FinClusive.com. About Cross River Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

Read More

FINANCIAL MANAGEMENT, FINTECH

Bitstamp brings its experience and infrastructure to APAC financial institutions via white-label offering

PRnewswire | March 21, 2023

Bitstamp, the world's longest-running crypto exchange, announces today that it is expanding its white-label service to institutions in selected APAC markets. Banks, payments and fintech companies, or investment firms looking to fast-track their digital assets offerings to customers can choose from one of three plug-and-play service tiers. The offering covers a range of needs, such as order matching, liquidity for a wide range of crypto markets, regulatory-compliant AML/ (Know-your-customer), account reporting and more. Known as Bitstamp as a Service, the solution enables financial institutions to rapidly develop a retail offering without needing to build out technology or compliance infrastructure or acquire specific licenses. One of Bitstamp's first partners for this service was Revolut back in 2017. Flexible Design for Rapid Deployment Bitstamp as a Service provides clients with three tiers: Exchange, Exchange Plus, and Exchange Complete. Each tier provides a number of core building blocks with the Exchange Complete tier designed as an end-to-end solution that adds KYC/AML operations for customer onboarding and access to Bitstamp's global license network. For institutions that are prioritizing speed to market and lower fixed costs, this solution will save them the time and resources needed to build this capability in-house. Bitstamp as a Service gives clients — whether they are an early-stage fintech startup or an established banking institution — the ability to integrate this infrastructure with their existing customer apps. This enables clients to continue to grow their customer relationships and control the user experience with the fastest path to market. "Bitstamp as a Service is a complete end-to-end solution that allows clients to rapidly turn on their crypto offering. Clients trust in our ability to deliver a safe and secure solution because our success as an infrastructure provider has been tested over multiple cycles. As the market matures, we are seeing greater demand for more integration options and third-party risk management," says Leonard Hoh, APAC GM of Bitstamp. "For added flexibility Bitstamp's infrastructure stack also gives clients a choice of 15 banking partners to match their operational needs. " A Trusted Solution for Institutions in Current Market Cycle In a survey carried out by Bitstamp in 2022, over 75 per cent of retail and institutional investors worldwide believe that crypto will become mainstream in the next 10 years. Of all the institutional investors polled, 81 per cent believe digital assets should be part of a portfolio. However, one of the top barriers to entry cited by retail investors were "not sure which platform to trust or is secure''. "Recent events in the industry have placed new emphasis on good business practices and compliance credentials that necessitate a package of operational controls. There is a need for institutions to find a trusted partner to deliver a quality experience in the digital assets ecosystem to serve the next wave of mainstream adoption ," says Leonard Hoh. Bitstamp currently holds more than 50 licenses and registrations globally. It was the only crypto exchange among more than 130 CEXes (centralized exchanges) to receive an AA rating in CryptoCompare's Exchange Benchmark Report in October 2022 — a testament to Bitstamp's commitment to making crypto investing secure for all. About Bitstamp Bitstamp is the world's original and longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record, cutting-edge market infrastructure and dedication to personal service with a human touch, Bitstamp's secure and reliable trading venue is trusted by over four million customers worldwide. Whether it's through its intuitive web platform and mobile app or industry-leading APIs, Bitstamp is where crypto enters finance. For more information, visit www.bitstamp.net

Read More

FINANCIAL MANAGEMENT, FINTECH

Ocrolus Adds OpenAI GPT Embeddings for Deeper Automation in Financial Document Analysis

PRnewswire | May 09, 2023

Ocrolus, a leader in AI-driven document automation for faster and more accurate lending decisions, announced it has integrated GPT embeddings from OpenAI into its set of technologies. The addition of OpenAI GPT embeddings strengthens Ocrolus' ability to process semi-structured and unstructured documents, such as bank statements, paystubs and mortgage applications, without human involvement. Integrating GPT embeddings from OpenAI further cements the company as a leader in creating best-in-class automation solutions for small business, mortgage and consumer lenders. Ocrolus document automation combines state-of-the-art AI from across the industry within a single solution to help lenders make decisions with confidence. In addition to the OpenAI integration, the company's technology set includes subsystems from Amazon, Google and its own proprietary deep learning architectures. These models are enabled by its massive document dataset, built from processing hundreds of millions of document pages, and the company's unique ability to create accurate training data in-house to constantly improve its algorithms. "Ocrolus continuously seeks to integrate AI solutions that can improve our machine learning models as well as our Human-in-the-Loop (HiTL) verification process," said Zach Haehn, SVP of engineering at Ocrolus. "Today, most documents we receive are processed with no human interaction, and we're staying on the offensive by continually adding the best technology from leaders like OpenAI. By expanding our technology platform, we're creating more efficient ways to deliver the accurate data and analysis lenders require to make more informed decisions in the fastest way possible." Leading small business, mortgage and consumer lenders across the financial services sector use Ocrolus to classify, capture and analyze financial documents for more informed lending decisions. This integration will lead to even more efficient document automation for Ocrolus customers, enabling them to process more loans while continuing to deliver the precise data required for financial decision-making. "Ocrolus' AI technology has transformed our lending business," said Ocrolus customer and Head of Operations Strategy & Enterprise Projects at Kapitus, Murugappan Chettiar. "The automation and accuracy have saved us many hours of manual work and drastically reduced errors in our lending decisions. It's been a game-changer for us, allowing us to handle more loan applications without sacrificing accuracy or speed." Ocrolus will demonstrate its AI-driven document automation technology at booth #343 during Fintech Nexus USA 2023, taking place at the Javits Center in New York City May 10-11. For additional information or to book a product demo, visit www.ocrolus.com/product/. About Ocrolus Ocrolus is an AI-driven document automation platform that powers the digital lending ecosystem, optimizing credit decisions in small business, mortgage, and consumer lending. Ocrolus enables financial services companies like Brex, Cross Country Mortgage, Enova, PayPal, and SoFi to make high-quality decisions with trusted data. By empowering lenders to automate financial analysis, we help borrowers access credit faster and on better terms.

Read More