Abe.ai and Lumin Digital Form a Partnership in Digital Banking

Envestnet, Lumin Digital | April 15, 2021

Abe.ai, a pioneer in AI-powered virtual assistant products for financial institutions, and Lumin Digital (a PSCU company), a leading provider of online and mobile digital banking solutions, announced a multi-year collaboration today that will allow Lumin to deliver Abe's fully-integrated Virtual Financial Assistant (VFA) to its clients.

Abe.ai's VFA will be introduced at Lumin's digital banking layer and incorporated in the authenticated, mobile, and online banking platforms as part of this partnership. This will allow a customer with one of Lumin's financial institution clients to log in to their mobile app or online banking site to get answers to a variety of questions, perform a variety of banking transactions, and gain knowledge to help their financial wellbeing through natural language inside a user-friendly interface. It also gives the user the option of interacting with a live team member if that is their choice.

"Lumin Digital is pleased to announce a collaboration with Abe.ai to provide our customers with the powerful capabilities of their Virtual Financial Assistant. Our clients would benefit from providing their customers with the superior service and connectivity that consumers demand "Lumin Digital's president, Jeff Chambers, says

As a cloud-based digital banking platform built with cutting-edge technology, Lumin Digital offers members a closely connected and personalized interface comparable to those of larger financial institutions. Lumin Digital assists credit unions and banks in further engaging with their customers, increasing value, and strengthening relationships by providing a truly personalized journey. Lumin Digital continues to innovate in the digital banking space, defining itself through technologies designed for human connection. To have a member-centric experience, Lumin Digital's offering seamlessly integrates with a wide range of PSCU and other network tools and features, such as card services, rewards management, and data analytics.

Abe.ai's contextually conscious and always learning VFA, driven by AI, machine learning, and natural language processing, can be programmed to ask and answer questions in common, conversational language. This two-way dialogue offers a more natural experience, allowing clients and participants to get quick answers and financial advice. Abe.ai's VFA will optimize and combine industry-leading insights solutions, personal financial reporting applications, and more as a solution for Envestnet I Yodlee, a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services.

About Lumin Digital
Lumin Digital, a PSCU based in San Ramon, California, provides digital banking solutions to financial institutions in the United States. Lumin Digital, founded by financial technology experts, is aiming to redefine digital banking with its proprietary customer interaction platform, offering banks and credit unions a solution that helps them to easily and securely respond to the needs of their users. Organizations will implement custom services for customers using Lumin Digital's user data and predictive analytics, providing a fully customized path that helps consumers thrive while building a connected relationship.

About Envestnet
Envestnet, Inc. is revolutionizing the delivery of financial advice and wellness services. Their goal is to bring innovative technology, solutions, and intelligence to advisors and financial service providers to make financial security a reality for all. About 106,000 advisors and over 5,100 companies, including 17 of the 20 biggest U.S. banks, 47 of the 50 largest wealth management and investment firms, over 500 of the largest RIAs, and hundreds of FinTech corporations, rely on Envestnet technology and services to improve outcomes for enterprises, advisors, and their clients.


Draft IFRIC Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration is published by the International Accounting Standards Board (IASB) for comment only. The proposals may be modified in the light of the comments received before being issued in final form...

Other News

Foundry Joins the Blockchain Association to Help Shape Regulatory Future of Crypto Industry

Foundry Digital LLC | March 08, 2022

Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking, is proud to announce its membership with the Blockchain Association, a member-led organization dedicated to improving the public policy environment for digital assets. This announcement is part of Foundry's mission to highlight the transformative potential of decentralized blockchain technologies and the infrastructure that makes cryptocurrencies, such as Bitcoin, the most secure and egalitarian computer networks in the world. With over 70 members, Blockchain Association combines its network and intel to create unique, meaningful policy with industry consensus. Foundry will leverage Blockchain Association's singular platform, blending industry insights and legal analysis, to inform lawmakers of the economic growth and technological innovations the crypto industry will continue to bring to the job market and electrical grid. Together, Foundry and Blockchain Association will help shape the regulatory future of the burgeoning crypto industry and work diligently to promote Foundry's principles of technological advancement and universal access to wealth in the United States. Foundry and its clients have grown rapidly and expanded operations in various regions that are often overlooked, demonstrating the type of economic development and community revitalization the crypto industry can bring to these regions, Blockchain Association will help us carry this message of success and growth to Washington, where lawmakers can help replicate our success in communities across the country." Kyle Schneps, Director of Public Policy at Foundry. The Blockchain Association, the collective voice of the crypto industry, is proud to welcome Foundry as its newest member, As a leading U.S.-based company who provides digital currency miners and stakers tools to build tomorrow's decentralized infrastructure, Foundry will bring unique insight to the association and to our conversations in Washington." Kristin Smith, Executive Director of Blockchain Association. About Foundry Digital LLC A subsidiary of DCG, Foundry Digital LLC was created to meet the institutional demand for better capital access, efficiency, and transparency in the digital asset mining and staking industry. Headquartered in Rochester, NY, Foundry leverages its institutional expertise, capital, and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow's decentralized infrastructure.

Read More


Wave Financial Launches ADA Yield Fund to Support Cardano DeFi Ecosystem Growth

Wave Financial | April 01, 2022

Wave Financial LLC (Wave), a SEC regulated digital asset investment management company, is pleased to announce the launch of the Wave ADA Yield Fund. The fund is designed to provide liquidity with millions in line to support new decentralized finance (DeFi) platforms launched in the Cardano ecosystem starting with an initial $100M. We're thrilled to continue breaking ground in the field of cryptocurrency through the creation of innovative new funds, and today we are launching what we believe is the first pure liquidity provisioning fund in crypto, Our new fund will support the new decentralized exchanges, lending protocols, and stablecoin issuers building on Cardano. Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem." David Siemer, CEO of Wave Financial. The new ADA Yield Fund represents the continuation of Wave's mission to support promising entrepreneurs within the crypto space beyond the early stage and foster greater innovation in the overall crypto ecosystem. Since the formal launch of smart contracts in 2021, the Cardano community has launched and funded hundreds of companies building on the Cardano blockchain, Cardano's growing ecosystem is hosting an ever expanding universe of applications supporting significant numbers of active users – it's critical for the success of the ecosystem that Cardano-based projects thrive, and so we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance." Charles Hoskinson, founder of Input Output. Historically, DeFi dApps are among the most popular in crypto in terms of bringing more users and applications on-chain. Specifically, decentralized exchanges (DEX) and DeFi lenders have gained the fastest popularity in terms of attracting users and capital. DEX typically are set up without market makers, but with two pools of assets that represent each side of a trading pair that serve as a source for DEX counterparties to trade against when they want to transact on either side of the pair. Wave will be using the ADA Yield Fund to provide liquidity to these pairs of pools to support Cardano DEXes. For DeFi lenders, there will also be a similar form of support to augment liquidity to facilitate lending. Also, Wave will continue to support and expand stake pools to strengthen the Cardano network. EMURGO is excited to support the creation of this valuable ADA Yield Fund to further drive expansion and adoption of Cardano's quickly developing DeFi ecosystem, Providing strategic capital resources through the fund will help talented entrepreneurs and projects to build essential DeFi services on Cardano, ultimately delivering impactful solutions and onboarding more users to the global Cardano community." Ken Kodama, founder & CEO of EMURGO. About Wave Financial Wave Financial LLC (Wave) is a Los Angeles based investment management company that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides investable funds via diverse investment strategies applied to digital assets and tokenized real assets. Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is registered with the US Securities & Exchange Commission as an investment adviser.

Read More


Data Mynt Crypto Payment Gateway Now Live On Bitcoin Lightning Network

Financial asset, loan, Banks, Cryptocurrency, payments. | April 19, 2022

Data Mynt, the world's fastest growing cryptocurrency payment gateway, has launched support for its fourth major blockchain network in as many months, the Bitcoin Lightning Network. Data Mynt now facilitates seamless payments to and from all Lightning Network enabled wallets in addition to Polygon Network, Ethereum Mainnet, and Bitcoin network wallets and assets. Data Mynt merchants and partners, which are on schedule to number in the tens of thousands by the end of Q2 2022, now receive and send payments from all Lightning Network enabled wallets such as Cash App and Strike. Favored by nation states such as El Salvador and household brandnames including Twitter, PayPal and Whole Foods, Bitcoin is the world's most widely used digital asset. Data Mynt is on pace to be the global leader in crypto payments by supporting all major blockchains, all enabled wallets and their owners' crypto-of-choice. The Data Mynt gateway enables merchants, funds, and enterprises to expand their payment options for their crypto customers, investments, and partners. At the same time, it reduces payment processing costs and eliminates frictions such as chargebacks and crypto price volatility. Every day, Bitcoin is less about a store of value and, arguably, the currency-of-choice for day-to-day utility." Data Mynt CEO Alex Christian. The Lightning Network is the key to unlocking the user experience and scalability for BTC payments that the entire world was waiting for." "Data Mynt's leadership in adopting Lightning will help bring Bitcoin to the next billion people around the world." Elizabeth Stark, CEO and Co-Founder at Lightning Labs. About Data Mynt Data Mynt is a global crypto payment processing gateway. Its wallet, asset and blockchain-agnostic suite of solutions offer partners and merchants an omnichannel approach to receiving and sending on-chain crypto payments free from volatility, risks, and costs of traditional payment methods. The Data Mynt payment solution is also designed to streamline implementation via API, branded web page, iFrame and merchant app, while consistently delivering a seamless customer experience for hundreds of thousands of merchants. About Lightning Labs Lightning Labs is building the next generation of decentralized, resilient financial infrastructure. We believe systems based on cryptography, blockchains, and smart contracts will enhance financial cooperation around the world in unprecedented ways at scales both large and small. We have developed Lightning Network Daemon (lnd) the most advanced and most developer-friendly implementation of the Lightning Network protocol. Along with Neutrino, an open platform that enables users with mobile devices to conduct blockchain and Lightning Network transactions quickly and easily.

Read More


Facepay Announces Facepay Crypto to Bring Cryptocurrency Payments to Auto Shops

Facepay | March 07, 2022

Facepay Inc. announced today the release of Facepay Crypto, an addition to its pioneering relational payments platform known for freeing business owners from credit card transaction fees and leveraging the security of blockchain technologies. Facepay’s Relational Payments disrupted the industry with its bold fixed-price subscription model in late 2020 and is poised to shake up the payments industry again with the introduction of Facepay Crypto. Built on a private Ethereum network, Facepay Crypto will allow shops to accept Bitcoin, Ethereum, and other cryptocurrency payments from customers directly, displacing complicated fee structures associated with legacy payment processing. And because payments made on the blockchain are irrevocable, they are not subject to the chargeback, fraud, and dispute processes that credit cards are. We figured out how to provide the advantages of Bitcoin and other cryptocurrencies into the platform while still maintaining that auto repair shops are paid directly, Consumer cryptocurrency will only increase over time, and repair shops should be investing in the right technology to take advantage of it. If not, Bitcoin will be just another payment method that costs shops money. Every direct payment made with Facepay results in a 15-20% more profitable transaction.” Dr. Mark Hale, the founder of Facepay. Cryptocurrency is entering the mainstream, just as repair shops are already heavily burdened with excessive credit card fees and planned fee increases. Facepay will allow shops to integrate alternative payments into their workflow and immediately realize additional profit gains because customers pay businesses directly, circumventing the traditional payment processor entirely. We all need to keep in front of our client’s experience. Contactless and digital payment methods are everywhere today. Adoption rates for these transactions are climbing higher and higher. Facepay’s platform saves me money, while remaining convenient and secure. Facepay is the right payment technology now and for the future.” Greg Buckley, Owner of Buckley’s Auto Care. Currently, there is no other platform on the market designed for auto shops to offer crypto-ready, direct banking with the security of blockchain technology. As a Diamond Partner, Facepay is the Preferred Payments to members of the Automotive Training Institute. Members can learn more about Facepay Crypto at the showcase held at the ATI SuperConference 2022 in Carlsbad, CA, March 16-19 and on their member portal. Auto shops attending the 2022 VISION HiTech Training & Expo in Kansas City, MO, on March 3-5 can visit us at the Facepay booth #435. About Facepay The Facepay Relational Payments payment platform helps business owners increase profits by eliminating credit card processing fees. Facepay’s technology allows auto shop owners to adopt a modern payment platform with a low-cost, fixed monthly subscription as an alternative to paying 2% - 3% of revenues to credit card processors. Facepay works with all management systems with an easy-to-use dashboard easily incorporated into existing workflows. On average, US auto repair shops using the Facepay model add $25,000 to their bottom line annually. Facepay enables repair shops to offer their customers multiple payment options, including contactless payments, monthly installments, and service subscription plans.

Read More


Draft IFRIC Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration is published by the International Accounting Standards Board (IASB) for comment only. The proposals may be modified in the light of the comments received before being issued in final form...