Core Banking
Sagent | September 18, 2023
Sagent, a prominent fintech software company specializing in modernizing mortgage servicing for banks and lenders, has announced an extension of its partnership with The Central Trust Bank (Central Bank). Backed by Warburg Pincus, Sagent's mission is to facilitate the transformation of mortgage servicing operations through scalable fintech solutions. This six-year extension signifies their commitment to empowering the Central Bank with cutting-edge technology, ensuring efficient operations, enhancing the customer experience, and addressing the ever-evolving demands of the mortgage industry.
Central Bank's decision to extend its partnership with Sagent underscores the value of Sagent's cloud-based LoanServ system. This system is the cornerstone of Central Bank's mortgage servicing operations, offering agile and highly configurable technology that automates intricate, high-volume tasks and workflows. By leveraging Sagent's fintech solutions, Central Bank aims to deliver an exceptional customer experience while remaining adaptable to the dynamic landscape of customer needs and regulatory requirements. This extension solidifies the role of technology in driving Central Bank's growth and competitiveness within the mortgage servicing sector.
Steve Komaromi, COO of Loan Servicing at Central Bank, commented,
Central Bank remains committed to its strong community roots while embracing growth opportunities through partnerships with industry leaders like Sagent to power ultra-personalized, full-service banking that helps us engage, care for, and retain our customers through every step of the homeownership journey.
[Source –Business Wire]
Central Bank's mortgage servicing technology from Sagent improved operational efficiency, kept them at the forefront of fintech innovation and met customers' expectations for a mobile-friendly banking experience. Steve also expressed Central Bank's enthusiasm for this extended partnership, highlighting the opportunity to expand their servicing customer base and accelerate innovation to serve their customers better.
Central Bank, rooted in community-first principles since its inception in 1902, has left an indelible mark across over 140 locations in the Midwest. With a century of service-driven banking, it has consistently earned accolades such as 'Best Customer Service Bank' by Newsweek and recognition in Forbes' prestigious list of 'America's Best Banks.' Sagent has over $2 trillion in outstanding mortgage balances on its platforms and is the only enterprise, default, and consumer mortgage servicing platform synchronized with real-time data in the industry.
About Sagent
Sagent is the driving force behind America's foremost bank and nonbank lenders, revolutionizing the homeownership experience for millions of borrowers. The company's mission is to empower enterprises and banks that help engage, nurture, retain, and modernize relationships with borrowers. Its flexible, scalable, and highly configurable solutions enable users to engage borrowers and cultivate loyalty effectively. In addition, Sagent's solutions help reduce servicing costs, ensuring compliance and amplifying the value of servicing rights throughout the entire spectrum of market cycles.
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Payments
Treasury Prime | September 20, 2023
Treasury Prime, a leading provider of state-of-the-art embedded banking software solutions, has formally introduced a strategic collaboration with Astra, a tech company renowned for its expertise in pioneering instant payment solutions. This partnership signifies a significant step forward in modern financial technology.
Mark Vermeersch, Chief Platform Officer at Treasury Prime, expressed that Astra's transfer technology offers remarkable speed, efficiency, and accessibility. When combined with an embedded finance marketplace, it has the potential to revolutionize transaction processes for businesses and end-users, thereby shaping a more interconnected and dynamic financial sphere.
By harnessing Astra's cutting-edge technology, Treasury Prime's customer base gains access to instant account funding and swift disbursement options via the push-to-card feature. This enhancement marks a significant stride in streamlining payment processes, promising increased efficiency and effectiveness for financial institutions and corporate entities.
Gil Akos, Co-Founder and CEO of Astra expressed enthusiasm about the partnership with Treasury Prime. He emphasized the significance of instant payment technology in revolutionizing financial transactions by providing expedited access to funds while ensuring elevated efficiency, security, and convenience levels. He anticipates that this collaboration will empower businesses to harness the potential of instant transactions, fueling growth, improving customer experiences, and promoting financial inclusion.
These recent partnerships with Sardine and Checkout.com signify Treasury Prime's commitment to forging strategic alliances, further solidifying its position as a leader in the industry. Additionally, the introduction of OneKey Banking, a pioneering multi-bank solution, and the successful closure of a $40 million Series C funding round earlier this year have underscored the company's dedication to innovation and growth within the financial technology sector.
About Treasury Prime
Treasury Prime offers comprehensive, sophisticated services, including money transfer, risk management, and access to a chartered bank's infrastructure. It collaborates with forward-thinking financial institutions to foster responsible innovation and expand access to banking products and services across diverse population segments. The company's excellence has been recognized through awards such as the Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards for 2021 and 2022 and its inclusion in CB Insights' prestigious 2021 Fintech 250 list.
About Astra
Astra is a prominent purveyor of cutting-edge bank-to-bank transfer technology tailored for financial institutions, fintech companies, and enterprises. Gil Akos and Sam Morgan co-founded the company in 2016. The company's distinctively designed, vertically integrated API offers a streamlined means for developers to seamlessly incorporate financial automation into their pre-existing products.
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Investment Management
Genesis Global | September 25, 2023
Genesis Global, a low-code application development platform tailored for financial market organizations, has unveiled a new solution designed to streamline investment decisions for asset managers by aggregating new bond deal data. In the fast-paced primary markets for corporate bonds, asset managers often have just two hours to analyze and request allocations for new bond deals. The market's fragmentation makes this problem worse because banks use a variety of platforms, including DirectBooks, Ipreo (S&P Global), Bloomberg, Refinitiv, and email, to market about 40 new bond deals every day with frequent updates.
Genesis' customizable Primary Bond Issuance solution consolidates deal data from various sources into a single, real-time workspace. This workspace facilitates rapid decision-making by allowing portfolio managers, credit analysts, and traders to collaborate effectively.
Rahul Kambli, Product Manager for Primary Bond Issuance at Genesis, reportedly highlighted the pressure on asset managers to make quick decisions in the primary bond markets, stating,
Asset managers are under pressure to make decisions extremely quickly in bond primary markets, but failure is not an option because of the opportunity cost of missing out on the best deals.
[Source – Globe Newswire]
The Primary Bond Issuance solution incorporates AI-driven handlers to automatically process unstructured data received via instant messages and email, reducing the need for manual data entry. This AI technology is part of Genesis' broader investment in AI as a platform service across their solutions.
Key features of the solution include data aggregation, normalization, and scrubbing; AI-driven data processing; integration with analytics, reference data, and compliance systems; connectivity to order management systems for allocation requests; customizable alerts and workflow tools; full audit functionality; and collaboration tools such as Symphony for faster decision-making.
Genesis Global's Primary Bond Issuance solution is built on their low-code application development platform and offers configurability to suit user preferences for integrations and workflow design. It exemplifies Genesis' commitment to helping institutional asset managers automate their investment processes through modern applications that facilitate collaboration and data sharing among portfolio managers, traders, and credit analysts.
About Genesis Global
Genesis Global is a leading force in empowering financial market organizations with its software application platform. It specializes in creating high-performance, secure applications and transforming traditional development challenges. Genesis focuses on flexibility and excels in low-latency, high-throughput environments. It operates internationally from locations in important financial hubs with the support of Citi and the trust of organizations like BNY Mellon and ING.
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Digital Banking
nCino, Inc. | September 22, 2023
nCino, Inc. officially revealed that Bendigo and Adelaide Bank, a prominent Australian financial institution, has chosen nCino as its partner to streamline and elevate business banking operations.
Adam Rowse, Chief Customer Success Officer for Business Bank and Agribusiness at Bendigo and Adelaide Bank, stated,
We are pleased to partner with nCino as we step up our efforts to simplify our business. Our goal is to deliver our customers and staff with best-in-class user experience and to streamline our operations so that we can move at pace while delivering sustainable growth.
[Source – Globe Newswire]
Integrating nCino into Bendigo and Adelaide Bank's operations will harness the power of intelligent automation and process optimization, resulting in faster decision-making and allowing bankers to allocate more time to nurturing customer relationships.
Mark Bernhardi, Managing Director of Australia and New Zealand at nCino expressed enthusiasm about the partnership with Bendigo and Adelaide Bank. He emphasized nCino's role as a preferred partner for forward-thinking banks worldwide, highlighting their established success in aiding banks to scale efficiently, enhance customer experiences, and drive rapid innovation.
This strategic move aligns with the bank's comprehensive objective of simplifying its operational processes, optimizing customer as well as employee experiences, and accelerating its growth trajectory.
Mark Bernhardi also expressed excitement about collaborating with the Bendigo and Adelaide Bank team as they progress in their transformation journey to streamline operations and foster a seamless experience for customers and staff.
About Bendigo and Adelaide Bank
Bendigo and Adelaide Bank is one of Australia's prominent financial institutions, with a dedicated workforce of over 7,000 professionals committed to serving a diverse customer base exceeding 2 million. The bank's vision is to secure its position as the preferred banking partner in Australia, actively contributing to the well-being of both its customers and the communities it serves.
About nCino
nCino leads the global cloud banking industry with its singular software-as-a-service platform. This platform empowers financial institutions to serve various customer segments, modernize their operations, streamline client onboarding, optimize loan processes, and expedite account openings. nCino's innovative approach, strong reputation, and swift operations have fostered partnerships with over 1,850 financial service providers worldwide.
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