FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT
Principal Asset Management | January 24, 2023
In order to expand its fintech-enabled model portfolio solution, supported by multi-asset risk analytics and industry-leading client interaction technology, Principal Asset ManagementSM recently announced that it has teamed up with Jacobi Inc., a global provider of investing technology.
Principal® gives advisers analytics and tools that will help them serve their clients better in the long run, with a big focus on digital transformation. The company will benefit from Jacobi's cloud-native technology, which will provide a customizable platform for more meaningful portfolio research by delivering customized, forward-looking, and historical data in a fully-integrated visual environment. Jacobi's storyboard and reporting technology make it easy to look at risk and return in a portfolio in detail and show how it affects the portfolio's goals.
Michael Casciano, Head of Model Strategy at Principal Asset Management, observed, "Working with Jacobi to create proprietary multi-asset risk analytics will make it easier for advisors to understand how model portfolios will behave in different market conditions. We're excited to offer advisors access to bespoke, forward-looking and historical analytics."
(Source – Cision PR Newswire)
Meanwhile, Tony Mackenzie, Chief Executive Officer at Jacobi, expressed, "It's very pleasing to work with such a well-regarded asset manager. This partnership with Principal will help them deliver superior analytics and engagement tools to its investment teams and advisors and ultimately better outcomes for the end client. Unsurprisingly, there is strong demand for our technology owing to the increased need for investment firms to scale and connect investment processes and increase the quality of engagement with clients. Jacobi has a global footprint and a strong pipeline – with more new business wins to announce later in the year."
(Source – Cision PR Newswire)
About Principal Asset Management
Principal Asset Management and its team of investment experts approach asset management with a fresh perspective, leveraging their expertise across public and private markets, along with a diverse range of asset classes to develop innovative strategies that help clients achieve their financial objectives. More than 1,100 institutional clients in more than 80 locations rely on it because of the firm's ability to identify unique and attractive investment opportunities by combining local insights with global perspectives. The company, a division of Principal Financial Group®, manages $484.6 billion in assets and has been named one of the ‘Best Places to Work in Money Management’ for 11 consecutive years.
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FINANCIAL MANAGEMENT, FINTECH
Axiom Bank | January 25, 2023
In a recent development, Axiom Bank, N.A., headquartered in Florida, announced that it will leverage automated assurance and oversight processes across its partner programs by integrating with Cable's comprehensive financial crime compliance effectiveness testing platform thereby, enhancing its ability to provide partners with an elegant, agile experience while ensuring regulatory compliance.
Aleem Jackson, Senior Vice President, BSA/AML Program Head at Axiom Bank expressed, “We are excited to work with Cable to continue advancing our innovative fintech sponsorship program." He further added, “We take very seriously our responsibility to ensure our fintech partners maintain their compliance with regulatory requirements and expectations, including applicable financial crime obligations.”
(Source – Cision PR Web)
Nigel Prince, Senior Vice President, Partnerships, Ventures, and Delivery at Axiom Bank said, “Integrating with Cable’s platform is fully in line with our vision of being a compliance-led, innovation-focused institution. Cable offers us enhanced visibility across and into each of our fintech programs, enabling us to respond promptly and appropriately to any issues or concerns and ultimately empowering us to move quicker and offer a superior end-to-end experience for our fintech partners.”
(Source – Cision PR Web)
Cable's all-in-one platform provides partner banks with tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more to boost financial crime compliance.
Natasha Vernier, Cable CEO stated, “We’re thrilled to partner with Axiom Bank to help build its fintech sponsorship program."
“With the bank-fintech regulatory landscape shifting rapidly in recent months, it’s clear that leading partner banks like Axiom Bank set themselves apart with an emphasis on compliance as an integral part of their fintech sponsorship offering. It’s a privilege to work with a community-focused partner bank that also similarly embraces innovation and compliance at its core," she concluded.
(Source – Cision PR Web)
About Axiom Bank
Axiom Bank, founded in 1963, helps customers simplify banking and attain their financial goals. The company, a well-capitalized and qualified public depository institution, is committed to its personal and business clients, along with integrating the latest technologies into its platform. As the future of better banking, Axiom Bank empowers people with financial solutions to improve their daily lives. The bank is redefining the customer experience through differentiated partnerships and innovative solutions.
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CORE BANKING, FINTECH
Pacific Service Credit Union and Lumin Digital | January 20, 2023
On January 19, 2023, Lumin Digital announced that it established a multi-year agreement with Pacific Service Credit Union (Pacific Service CU) in California to promote an improved online banking experience for the latter's almost 70,000 members and assets worth over $1 billion.
Lumin's cloud-based online and mobile digital banking platform, set to launch in October, will provide better safety, security features, and seamless digital integration. This would help Pacific Service CU develop tailored experiences by providing personalized suggestions such as spending insights, financial guidance, savings goals, and fraud warnings.
Michelle Shelor, Chief Operating Officer of Pacific Service Credit Union, stated, "At Pacific Service CU, we've built a strong reputation for providing world-class products and services for our members." Michelle continued, "Our partnership with Lumin Digital will greatly improve the user experience and back-end processes. We are excited to bring this new technology to our members."
(Source – Cision PR Newswire)
Lisa Daniels, Lumin Digital's Chief Delivery Officer, indicated that Pacific Service CU's members would benefit from the cooperation. In a recent digital-banking analysis from The Financial Brand, U.S. financial leaders foresee four themes for 2023, all of which are Lumin's focus - digital transformation, boosting data and analytics, streamlining the customer journey, and extending digital product and payment capabilities.
"Addressing these critical areas hasn't always led to predictable outcomes for financial institutions in the past," Lisa Daniels said. "Lumin's thoughtful approach, experienced implementation teams, and innovative technology stack simplify this process greatly - providing Pacific Service CU with the confidence, security, and engagement they deserve from their digital partner," she concluded.
(Source – Cision PR Newswire)
About Lumin Digital
Lumin Digital, a majority-owned subsidiary of a PSCU, provides a cloud-native platform that redefines digital banking for financial institutions. The platform offers a complete and modern integrated suite of capabilities based on the industry's most sophisticated technology and best practices. In addition, through a patented engagement model that enables highly focused, actionable, and distinctive digital interactions, organizations will be able to create excellent user experiences across platforms, enabling more personalized journeys and connected relationships.
About Pacific Service Credit Union
Pacific Service Credit Union, headquartered in Concord (California), is a full-service financial institution. The company, recognized as a Bay Area Top Workplace from 2019 to 2022, has a talented, cohesive leadership team with an average of over 11 years of service. Meanwhile, San Francisco Business Times has also recognized its corporate generosity over the years, placing it in an elite group of businesses that give away more than 2% of its annual profits.
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