PGIM Investments and iCapital Network® Announce Partnership to Enhance Access to Alternatives

Business Wire | August 12, 2020

PGIM Investments, the retail distribution arm of PGIM, Inc., the $1.4 trillion global investment management business of Prudential Financial, Inc. (PFI), and iCapital Network1, the leading financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, today announced a partnership in which iCapital will provide a customized technology solution to augment PGIM Investments’ distribution and servicing capabilities. The partnership will support financial advisors and their high-net-worth clients, allowing them to more easily access PGIM’s real estate, private credit and other private alternative investment solutions.

Spotlight

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

Spotlight

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

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CORE BANKING, PAYMENTS

Ideal Credit Union Introduces New Way of Connecting Members with Banking Products!

Alkami Technology and Ideal Credit Union | December 26, 2022

A US-based financial services company, Alkami Technology, announced that its client, Ideal Credit Union, has come up with a new way of connecting members to essential banking products! In a statement, the company stated that the member-owned financial cooperative - Ideal Credit Union has launched Segmint data and marketing solutions on Alkami's digital banking platform. “At 2030, I would say that you probably have two billion people that’ll be using day-to-day banking services, independent of banks” – Brett King Ideal Credit Union informed that Segmint would identify every tiny detail involved in a transaction process that can prove helpful in serving their customers better. Taking this as an opportunity to expand their business strategy, both companies mark this as a positive development that will take their business to the next level. Segmint, in association with the Alkami platform, will scrutinize members’ data about the products they have elsewhere and provide custom offers accordingly. Ideal Credit Union recently used Segmint's data and marketing solution to find members interested in buying CDs. Through Ideal's mobile banking, the Alkami platform sent them an offer for a CD. This project helped them open CDs worth more than a million dollars. With Segmint's Key Lifestyle Indicators, Alkami can also look at its membership base to find people who have mortgages, loans, credit cards, or savings accounts with other companies and offer them competitive products through its platform. Ideal Credit Union believes that the collaborative work of Segmint and Alkami will be a decisive move for financial institutions. Together, they can improve their digital sales and customer service by using insights from transaction data. It would help them build stronger relationships with account holders and bring in more money. About Alkami Technology Alkami Technology is the leading provider of cloud-based digital banking solutions for U.S. financial institutions. It helps clients grow with confidence, adapt quickly, and build thriving digital communities. It also helps clients transform by offering retail banking, business banking, digital account opening, loan origination, and solutions for preventing fraud in multiple payments. About Ideal Credit Union Ideal Credit Union is a member-owned, not-for-profit financial cooperative that offers its customers financial services and products. The company has branches in Eagan, Hugo, Inver Grove Heights, North St. Paul, Stillwater, and Woodbury. It also offers car loans, mortgages, and business accounts to its members.

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FINANCIAL MANAGEMENT, FINTECH

State Street Launches Venturi to Support Peer-to-Peer Financing

State Street | November 21, 2022

State Street Corporation (NYSE: STT) today announced the launch of the firm’s new peer-to-peer financing platform, Venturi, specifically designed to connect buy-side firms with new sources of liquidity in the global repo space. Venturi, built through a partnership with FinOptSys, a cutting edge FinTech focused on the securities financing market, supports trade negotiations and enhances trade settlement and collateral management, allowing traders to better manage and diversify their counterparty exposure. “As a result of elevated market volatility and the changing liquidity and rate environment, buy-side firms are increasingly seeking new and diversified sources of financing, We are excited to further expand our product suite with the launch of Venturi to help foster the growth of and scale the peer-to-peer marketplace. Akin to our 2005 launch of FICC’s Sponsored Repo Service, which has also provided our clients with critically needed liquidity solutions, we believe Venturi will empower our clients to discover new liquidity pools and make better, data-driven investment decisions. The launch of this platform – designed in large part through extensive development and feedback from our clients – is certainly a very noteworthy milestone for our business and the evolution of our peer-to-peer initiatives.” -Gino Timperio, global head of Financing Solutions at State Street Venturi was built to provide clients: Increased Efficiency: Users negotiate economic terms of peer repo transactions on Venturi. A program master repo agreement streamlines the documentation process and supports ready scalability. Users may engage with any or all counterparties active on the platform. Improved Flexibility: Venturi supports a flexible suite of eligible collateral and margin requirements. Seamless Confirmation of State Street’s Guaranty to Repo Buyers: Venturi allows buy-side participants to seamlessly submit and confirm the repo transaction terms satisfy the criteria necessary for State Street to guarantee the repurchase price payment obligations of the repo seller to the repo buyer following a repo seller default. State Street’s short-term credit rating: A+/AA1. Transparency of trade and margin call settlement: With links to State Street’s Collateral+ Triparty Solution for Peer-to-Peer Repo, Venturi displays confirmed trade matches, collateral valuation and margin calls, and collateral movements between counterparties. In helping to centralize liquidity pools and enhance transparency, Venturi seeks to open up for the buy-side new trading opportunities, lower their transaction costs and improve their returns. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $35.7 trillion in assets under custody and/or administration and $3.3 trillion* in assets under management as of September 30, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 41,000 worldwide.

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Global Fintech SUNRATE Partners with Visa to Offer Virtual Corporate Cards

Sunrate | January 05, 2023

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