FINTECH

Payscout and Telrock Systems Partnered Over Paywire Integration

Payscout | February 08, 2022

Payscout_and_Telrock
Payscout, one of the global leaders of payment innovation, is elated to announce its latest integration with Optimus. Payscout is known as one of the global leaders of payment innovation. The company has provided specialized processing solutions for vertical-specific industries such as Healthcare, Accounts Receivable Management (ARM), and Enterprise merchants. Optimus is known for its comprehensive cloud-based collections and recovery software platform from Telrock Systems.

Telrock Systems is a global technology provider for modern recovery software solutions and cloud-based collections for creditors and 3rd-party consumer collections organizations to improve their functionality and advance business capabilities.

Payscout's Paywire platform will be a significant ARM-centric gateway for the users of Optimus as they will now have direct access to seamlessly integrated payment processing through API. The enhanced integration will serve the purpose of providing advanced omnichannel payment capabilities for debit, credit, HAS, and ACH in a secure and PCI-compliant environment.

In addition, the new Paywire platform now offers the users of Optimus access to enhanced service offerings from Payscout. The offerings would be programs with a proven record of increasing collection rates and boosting revenue and 360° Fee-Free Payments and First-Party Biller (FPB). Fee-Free Payments and First-Party Biller (FPB) is a service offering for agencies to their clients (BPO or EBO) to assist on receivables before assignment for collection. FPB generally reduces the impact on clients and systems during data transfer and controls the entire process.

360° Fee-Free Payments is a fully compliant Convenience Fee solution that enables merchants to eliminate or significantly reduce their payment processing fees by charging consumers at a flat price for the convenience of accepting card-not-present (CNP) payments online or via mobile phone.

These are trying times for businesses in the collections and ARM space. With many businesses facing reduced budgets, limited inventories, and increased regulations, there is a real need for an efficient and compliant payment solution that reduces costs and increases revenue. The integration between Paywire and Optimus provides further proof of the commitment between Payscout and Telrock Systems to provide innovative collection solutions that meet the needs of our customers."

Manpreet Singh, President and Co-Founder of Payscout

Spotlight

In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who has since stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy.[1] Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced, with the actual loss expected to be substantially larger. These events gave rise to a number of investigations to examine the firm's risk management systems and internal controls.

Spotlight

In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who has since stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy.[1] Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced, with the actual loss expected to be substantially larger. These events gave rise to a number of investigations to examine the firm's risk management systems and internal controls.

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CORE BANKING,FINTECH

TD Bank Business Customers Can Now Pay their Employees in Real Time

TD Bank and DailyPay | September 14, 2022

TD Bank, America's Most Convenient Bank®, announced today the launch of a collaboration with DailyPay, a leading fintech with an innovative on-demand pay solution. This capability enables clients to give employees real-time access to earned pay prior to a scheduled payday. "Many employees wait two weeks, or even a month, for payday to come around, With current pressure from inflation and other issues, this lack of access to earned wages can put workers in a bind. Unforeseen expenses, upcoming bills and day-to-day needs do not wait for payday – and now our clients' employees don't have to." -Paul Margarites, Head of Commercial Digital Platforms for TD Bank Powered by DailyPay, the solution will empower TD clients to offer employees access to their earned pay ― whereby their funds can be deposited in their direct-deposit account and available almost as soon as they clock out of a shift. Behind the scenes, the solution connects with clients' existing payroll systems to convert their employees' time worked into net earnings. Their DailyPay Balance is available to employees anytime, anywhere through their bank account or any card they choose. They can even control the frequency of the solution and portion of their pay received. We are proud to offer this service to our customers to help them deliver a highly desirable benefit to their employees, This service is especially helpful to independent contractors looking for more immediate access to their pay,said Chris Giamo, Head of Commercial Banking at TD Bank. About TD Bank, America's Most Convenient Bank® TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US. TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". About DailyPay DailyPay, powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry's leading on-demand pay solution with modern, insight-driven pay strategies that help America's leading employers to activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers. DailyPay is headquartered in New York City, with operations based in Minneapolis.

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FINANCIAL MANAGEMENT

TIFIN and ETFMG announce expanded partnership to promote thematic ETFs to active investors and advisors on Magnifi

TIFIN and ETFMG | August 19, 2022

TIFIN, a fintech platform using artificial intelligence (AI) and investment-driven personalization to shape the future of investor experiences, today announced a new fund marketing and distribution partnership with ETF Managers Group. ETFMG is a thematic ETF issuer founded in 2014 with a vision of developing innovative thematic exchange-traded funds (ETFs) that provide investors unique exposure to new and emerging markets. This adds to TIFIN's embed investment partnerships which now has over 40 leading investment managers sponsoring 90+ funds across their ecosystem. "TIFIN, including through its Magnifi marketplace, is undeniably innovating through its proprietary technology, to make it easier for investors to search for themes and identify the investment opportunities that matter to them, The ETF world offers thousands of choices, making it a challenge for investors to navigate. Simply said, Magnifi helps investors make smarter decisions and we are thrilled to be partnering with TIFIN in support of this common goal." -Sam Masucci, CEO and Founder of ETFMG This new partnership will see ETFMG promoting a series of thematic ETFs across Cannabis, Travel, Cybersecurity, and Precious Metal themes within TIFIN's Magnifi Investment Marketplace to over 140k registered users. Each fund will be placed in a primary position to all search results that relate back to each of the thematic areas. Magnifi users conduct over 2.5 million investor queries per week as of August 2022. In addition, the two firms will work on a series of co-marketing initiatives to promote ETFMG to both active advisor and individual investor communities. This partnership builds on an existing relation between ETFMG and TIFIN, as their BDRY and BSEA ETFs are currently part of a thematic investment marketplace within the TIFIN Wealth platform used by over 1,000 Advisory Firms to match funds to client proposals based on insights from their financial planning, personality, and risk tolerance needs. We are delighted to partner with Sam Masucci and the ETFMG team to bring their revolutionary thematic ETFs to the forefront of our Magnifi marketplace, This partnership will bring value to our user base by promoting these leading ETFs adjacent to the thematic intelligence and insights across Magnifi,said Jack Swift, President and CRO of TIFIN. About ETFMG®: ETFMG is a provider of exchange-traded funds (ETFs), founded in 2014 with a vision of developing innovative thematic ETFs that provide investors unique exposure to new markets. Today, the ETFMG fund line up provides access to a diverse collection of global themes and is comprised of 75% first to market products. We turn portfolio management strategies into successful ETFs by partnering with market segment experts to bring long-term growth opportunities to investors. ETFMG funds are proof as to the power of the ETF wrapper and that thematic products can have a place in investors' portfolios. About TIFIN: TIFIN is an AI-powered fintech that leverages data science, investment intelligence, and technology to deliver engaging and personalized investor experiences. By connecting individuals to advice and investments, TIFIN bridges the gap between investors, their trusted intermediaries, and asset managers. Founded in 2018 by Dr. Vinay Nair, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face. TIFIN manages Magnifi, a search-powered marketplace for investments; TIFIN Wealth, a platform for advisors, wealth managers, and other intermediaries to deliver better individual outcomes; Financial Answers, a digital platform of investor communities; all powered through Distill, a central digital distribution and insights engine using TIFIN's data platform.

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FINTECH

CSI Partners with Bankers Helping Bankers to Support Community Banks with Innovative Fintech Solutions and Collaboration

Computer Services, FedFis, IBAT | July 28, 2022

Computer Services, Inc. (CSI) (OTCQX: CSVI), a leading provider of end-to-end fintech and regtech solutions, has partnered with Bankers Helping Bankers to further the organization’s mission of empowering community banks. Established by FedFis and the Independent Bankers Association of Texas (IBAT) in late 2021, Bankers Helping Bankers connects bankers nationwide so that they can identify solutions that drive earnings and diversify sources of income. Its mission is to elevate and unite community banks across the United States to compete with large, entrenched financial institutions. “Community banks are the backbone of our economy and invaluable partners with their local communities,” said IBAT President and CEO Christopher Williston. “Community banks are the backbone of our economy and invaluable partners with their local communities,” said IBAT President and CEO Christopher Williston. “Bankers Helping Bankers extends that spirit of collaboration by coordinating and sharing innovative products and strategies for success. Together, community banks can more confidently face the threat of global institutions and new competitors.” In just six short months, Bankers Helping Bankers has built an extensive network, and most of the nation’s state associations have joined the movement. CSI works with Bankers Helping Bankers to build digital banking strategies that community bankers need to adapt and compete. “CSI is the fourth largest core processor in the U.S., and when offered a chance to help community banks, CSI immediately said yes,” said Dave Mayo, CEO of FedFis and Founder of Bankers Helping Bankers. Bankers Helping Bankers is continuing to grow in both size and scope. We believe bankers can make the right decisions and thrive if they have the right information and access to experts. CSI is determined that community bankers will continue to have that access, at no cost to the banker, with their support of Bankers Helping Bankers.” “At CSI, we have always been dedicated to helping community banks expand their offerings and grow the markets they serve, and this partnership represents another significant step toward that goal,” said Giovanni Mastronardi, group president, CSI Enterprise Banking. “Bankers Helping Bankers goes beyond promoting technology solutions. It brings together industry professionals to participate in lively, thoughtful discussions about how community banks can grow their business. We are thrilled to work hand-in-hand with Bankers Helping Bankers and ensure community banks thrive in today’s banking environment.” About Computer Services, Inc. Computer Services, Inc. (CSI) delivers core processing, digital banking, managed cybersecurity, cybersecurity compliance, payments processing, document delivery, and regulatory compliance solutions to financial institutions and corporate customers, both foreign and domestic. Management believes exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the Company’s inclusion in such top industry-wide rankings as IDC Financial Insights FinTech 100, Talkin’ Cloud 100 and MSPMentor Top 501 Global Managed Service Providers lists. CSI has also been recognized by Aite Group, a leading industry research firm, as providing the “best user experience” in its AIM Evaluation: The Leading Providers of U.S. Core Banking Systems. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information, visit csiweb.com. About FedFis FedFis provides financial institutions fintech data analytics and a strategy system that tracks Financial, M&A, and Vendor data (including technology vendors) on every bank and credit union in the United States. FedFis is committed to "truth in banking", by helping community bankers understand which products and services will best pair with their existing technology to drive the strategic outcomes for which they strive. They are first and foremost, a family business of precisionists. Fifth-generation bankers and technology experts with incredible depth and passion for the banking industry. For more information visit, www.fedfis.com. About IBAT Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas community banks. The Austin-based group is the largest state community banking organization in the nation, with membership comprised of more than 2,000 banks and branches in 700 Texas communities. Providing safe and responsible financial services to all Texas, IBAT member bank assets range in size from $27 million to $39 billion with combined assets statewide of nearly $256 billion. IBAT member banks are committed to supporting and investing in their local communities. For more information visit, ibat.org.

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