JTC Group and Harmonate | August 09, 2022
Harmonate announced today its selection by JTC Group to allow faster, accurate extraction of financial data for institutional fund and private wealth clientele, broadening access to diverse sources and forms of data to enhance offerings and provide unprecedented speed and reporting capabilities to the global JTC customer base.
"Fund services strategy can only go as fast as the speed with which financials can be accurately extracted and rapidly deployed in the many different formats leaders require, Impact and ESG investing, for instance, and the hunt for an edge in this rapidly evolving environment also means the definition of what data falls under the fund administration role has quickly expanded, and requires normalization capabilities that are well beyond legacy systems."
-Harmonate CEO Kevin Walkup
Our institutional and private clients understand the power of data relative to their own organizations and as their trusted partner, they turn to JTC for the solutions that will meet their growing need for pace, quality, usability and information security, We are delighted to announce this alliance, which will marry the transformative capabilities of Harmonate with our deep human expertise and experience in fund, corporate and private client services,said JTC Group CEO Nigel Le Quesne.
JTC Group is a global organization servicing institutional fund clientele, private wealth and providing a robust range of corporate services. The company supports clientele across 25 jurisdictions, is recognized for its 32-year track record of consistent growth, customer relationship longevity and shared ownership business model where all employees are company shareholders. JTC's growing leadership in the marketplace is demonstrated by the company's significant investments to broaden technological capabilities, enhance product offerings, provide unprecedented levels of information security, data visibility and increased service levels.
JTC Group's successful achievement of the best of multiple worlds contributes to their accelerating rise in prominence as a preferred solution in a competitive market, We are excited to serve them as they exemplify what global fund administration will look like in the post pandemic world,said Walkup.
Harmonate's Conductor product provides proven automated data extraction from general ledger systems, statements and balances, providing data normalization, creating specialized data warehouses, and intelligently feeding client dashboards, reports and service level agreements. Outputs are also configured for internal general ledger administration, enterprise resource planning and reporting. Harmonate's data aggregation process encompasses configuration of schedules, data sources, reference data and master data. This provides reporting on expected and actual results to support management through straightforward dashboards.
Conductor has demonstrated the full-scale capacity to reduce reporting delivery timelines by more than 80 percent, or from two weeks to 24 hours. In addition to its speed, quality, and capacity to make data more easily used in more ways, Conductor is designed to support ongoing cost savings over multiple years of deployment.
Harmonate is a data services platform for funds that frees operations from the limits of legacy systems and closes the information gap between fund managers and investors, as well as between funds and the public sector. The company's purpose-built solutions streamline middle office processes — simplify complex, high velocity transactions, and help ensure security and regulatory compliance through each step of a fund's life cycle.
With its proprietary fundstech platform and leveraging more than 15 years of specialty financial administration leadership, Harmonate is helping define best practices in each of the markets it has supported.
Bond | September 09, 2022
Bond Financial Technologies Inc., the leading embedded finance platform, today unveiled the industry's first white label solution that allows B2B SaaS platform providers to launch their own commercial charge cards without writing a single line of code. With a fully featured, branded platform including built-in compliance and requiring minimal engineering effort, SaaS companies can unlock new revenue streams, build brand loyalty, and meet their customers' needs by offering better and more relevant financial products.
Total volume of payments made with a commercial card is expected to reach $1 trillion by 2024 as businesses modernize away from check payments. Leading this growth is the use of on-demand virtual cards over paper checks as it helps companies reduce manual or paper-based processes, reduces their costs, generates a new revenue stream, and has built-in protections against fraud and misuse.
Bond's new White Label solution makes it effortless for B2B SaaS platforms to launch commercial card programs and tap into this growing market across multiple verticals that include:
Expense & spend management: More and more finance departments are turning to platforms to control business spending and reporting while automating manual processes. Now, any SaaS platform focused on managing expenses and spend, can issue its own branded cards – like Brex, Ramp and Airbase – either directly to its customers' employees or for specific purposes, enhance those cards with custom spend limits, and integrate the rich transaction data into reports and insights in a matter of weeks not months. Since launching its commercial charge card program with Bond, Cledara has helped its customers to manage SaaS spending across thousands of vendors and rapidly scaled its subscription and interchange revenue.
Service management: Home and property repair services have increased their addressable audiences by turning to service management platforms to manage scheduling, billing, customer acquisition, and other tasks so technicians can focus on their service jobs. Now, field service management platforms such as ServiceTitan, Jobber, or HouseCall Pro can issue one-time use or recurring cards to technicians on the ground for a specific job, property, or service area that reduces manual paperwork and reconciliation.
Other SaaS platforms: Commercial charge card use cases are relevant across many other SaaS platforms. Fleet and logistics platforms can better manage spend and reporting; bookkeeping and tax platforms can further reduce manual processing; and treasury management platforms can build tools on top of high-fidelity transaction data.
These solutions uniquely create more integrated, value-added experiences for customers of SaaS platforms, unlock a new revenue stream from interchange revenue, increase customer loyalty and brand equity, and provide access to greater insights from spend data, which can enhance the platforms' core products and increase customer acquisition efficiency.
"Our customers kept telling us that they wanted to launch a commercial charge card product, but they just didn't have the engineering resources allocated to their roadmaps to execute on the product offering, Bond listened, and we're proud to be the only fintech infrastructure platform that allows brands to launch a B2B charge card product without the need to write a single line of code. Bond White Label enables companies to go to market with complete trust in a fully functioning and compliant financial product."
-Roy Ng, CEO and co-founder
Until now, if a company wanted to offer a branded charge card, it would have meant a long and painful process: establishing relationships with card issuers, manufacturers, banks, and card networks, then building complex technical integrations with each. Bond has drastically simplified this process. When a company partners with Bond, it benefits from pre-existing partnerships and integrations; with one single agreement it can launch a card by working just with Bond's APIs. Bond White Label pushes this concept even further, eliminating the need for an API integration. Now, a company can go live without writing a single line of code.
Bond's White Label product is the only full no-code commercial credit card solution. Complete with compliance, underwriting, and financing, Bond White Label provides a one-stop solution right out of the box that gets companies to market fast and with complete confidence in their credit capabilities on Bond.
Bond enables any company to become a fintech. Through Bond's full-stack embedded finance platform, customers can offer personalized and compliant financial products to their end users, including high-value-add products such as consumer and commercial charge cards. Bond was founded in 2019 by industry veterans from Blackrock, Goldman Sachs, SAP, SoFi, and Twilio, with deep roots in financial services, technology and enterprise software. Bond is a remote-first company, with office locations in San Francisco, New York City and Salt Lake City.
Asa | July 27, 2022
Asa connects financial institutions with customer-facing fintechs in a secure, compliant and easy to implement marketplace. The company today announced that Tucson, Ariz-based Pyramid Federal Credit Union has selected the Asa platform, embracing collaborative banking to quickly introduce new technologies.
Pyramid FCU will connect to a community of fintechs via Asa’s digital rails, allowing the credit union to instantly deliver new innovations and capabilities for members in a secure, safe way. All member data is tokenized, normalized and anonymized before it’s shared with any fintechs, eliminating liability and risk. With Asa, Pyramid FCU will be able to personalize the member experience at scale.
“As a community institution, it can be challenging to keep up with the rapid rate that technology and member expectations change,” said Ray Lancaster, CEO of Pyramid FCU.
“As a community institution, it can be challenging to keep up with the rapid rate that technology and member expectations change,” said Ray Lancaster, CEO of Pyramid FCU. “Asa and the collaborative banking model help solve for this pain point, providing members with fast and easy access to the apps and tools they want to try, all without having to share any sensitive information. This allows us to nimbly innovate without being bogged down with cumbersome one-to-one vendor due diligence, carving out a strong competitive advantage.”
By creating a trusted, closed ecosystem in which financial institutions and fintechs benefit from one another, Asa is enabling banks and credit unions to innovate, fintechs to scale and consumers to take control of their data and finances. With Asa, Pyramid FCU’s members will have the benefit of both the latest modern technology and the credit union they know and trust.
“Leaders like Pyramid FCU understand the importance of delivering the new technologies and tools members want, backed by the local, personal service they crave,” said Landon Glenn, CEO and founder of Asa. “By embracing the collaborative banking model, Pyramid FCU is improving the member experience and empowering them with unprecedented choice, all while removing much of the liability and risk that has traditionally hindered credit union-fintech partnerships.”
Provo, Utah-based Asa connects financial institutions with customer-facing fintechs in a secure, compliant and easy to implement marketplace. With Asa, banks and credit unions are innovating more quickly, fintechs are scaling more easily and end users are empowered to take control of their data and finances. Learn more at asa.financial.