SoFi | September 15, 2023
RiskExec, Inc., a subsidiary of Asurity Technologies, has disclosed that SoFi, a digital personal finance company, will utilize RiskExec's software to fulfill its compliance and reporting needs.
This move underscores RiskExec's position as a trusted compliance solution for modern financial institutions, offering swift geocoding of data, rigorous edit checks, and insightful analyses across various sectors, including banking, mortgage lending, credit unions, automotive lending, and digital lending.
Angela Smedley, CRA Officer at SoFi, has expressed her appreciation for RiskExec's improved geocoding capabilities, customizable features, and exceptional customer support. She said these attributes have enabled the company to enhance efficiency in its consumer loan review process, ultimately contributing to an improved experience for prospective and existing members.
Meanwhile, Dr. Anurag Agarwal, PhD, President of RiskExec, also expressed the company's dedication to delivering precise and up-to-date analytics to assist SoFi in achieving its CRA objectives. This commitment comes as SoFi joins the ranks of RiskExec users, with the successful integration of RiskExec significantly enhancing its CRA program. Amidst the dynamic and demanding regulatory framework, RiskExec provides banks with essential tools to ready themselves for regulatory assessments. This includes conducting comprehensive trend analysis and evaluating performance, encompassing areas within and outside the designated assessment regions.
Asurity offers compliance-focused solutions to the mortgage, retail banking, and consumer lending. Its flagship SaaS product, RiskExec, combines compliance expertise with advanced reporting and analytics software. This enables lenders to meet regulatory requirements and achieve their business goals effectively. Financial institutions widely use RiskExec for data analysis and compliance in various financial products. The company also provides Propel for compliant mortgage document generation and RegCheck for comprehensive compliance assessments using loan-level data from integrated LOS systems.
SoFi is a member-centric digital financial services platform dedicated to helping individuals achieve financial independence and realize their goals. With over 6.2 million members, the company offers a comprehensive suite of financial products and services, providing fast access to tools for borrowing, saving, spending, investing, and financial protection - all within a single app. Beyond financial services, SoFi supports its members with resources such as career advisors, certified financial planners, exclusive experiences, and a thriving community, guiding them on the path to financial independence.
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.
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.
PR Newswire | October 17, 2023
Glia, the customer interaction leader unifying Digital Customer Service (DCS), phone and automated self-service on a single platform, has partnered with Lumin Digital, the leader in cloud-native digital banking solutions, to streamline digital-first member service. Glia's DCS capabilities are now integrated into Lumin's online banking platform, enabling quicker, effortless member support.
Lumin Digital, a cloud-native digital banking platform, elevates financial institutions' user experiences to match larger institutions and deliver the modern banking experiences that today's users expect. With a focus on service, user experience, safety, and security through advanced automation, Lumin Digital enhances engagement by offering personalized recommendations in spending insights, financial advice, fraud alerts, and savings goals. Lumin enables banks and credit unions to provide real-time updates and value-added features supported by a dedicated team of industry experts, designers, and developers.
Pre-integration of the Glia Interaction Platform within Lumin's digital banking offering enables a seamless digital-first customer experience across all channels—SMS, chat, voice and video—without breaking the digital connection. Online collaboration tools, including CoBrowsing, allow financial institutions to guide customers, improve satisfaction and build loyalty for banks and credit unions.
At Lumin, we believe that technology should be built for, not to replace, the human connection, said Sean Weadock, Chief Product Officer at Lumin. Glia's robust service and support tools squarely align with that philosophy, enabling credit unions to leverage digital-first technology to maximize meaningful human conversations and reach quicker resolution. This partnership will empower banks and credit unions to deliver a unified approach to member service across all channels, boosting efficiency, revenue and loyalty.
"The combined services of Lumin's digital banking platform and Glia allow Ascend to continually meet the ever-evolving needs of our members," said Matt Jernigan, President and CEO at Ascend Federal Credit Union. "Through this partnership, our members can seamlessly manage their funds and monitor their overall financial health using secure, reliable, and innovative technology."
The integration within Lumin's online banking platform overcomes silos and fragmented solutions, providing a frictionless experience for members, agents and managers. Members benefit from real-time guidance, accelerated interactions and improved satisfaction. Glia and Lumin already have 15 mutual credit union clients.
"We live in an always-on world where interactions are expected to happen on screen, on demand and on point," said Steve Kaish, SVP of Alliances at Glia. "Our commitment to delivering the right interaction at the right time aligns with Lumin's dedication to delivering exceptional member experiences, and we are excited to provide credit unions with the tools needed to optimize their member interaction strategies for today and beyond."
Glia and Lumin will be at the Jack Henry Connect conference next week. See Glia at booth 1009 and Lumin at booth 333.
About Lumin Digital
Lumin Digital is a fintech company specializing in digital banking solutions. Through a fundamentally different approach to technology, service, and people, the company provides financial institutions with a best-in-class, cloud-native platform that drives consumer adoption, engagement, and growth. For more information, visit lumindigital.com.
Glia redefines how businesses interact with customers. The Glia Interaction Platform unifies Digital Customer Service (DCS), traditional call center, and automation with a ChannelLess™ Architecture, empowering businesses to create the ideal mix of interactions and adapt on demand. The ability to easily shift volume between channels drives revenue, efficiency, and loyalty at the same time.
Glia has partnered with over 450 banks, credit unions, insurance companies and other financial institutions worldwide to improve the customer experience and drive business results. Named a Deloitte Technology Fast 500™ company and a Great Place to Work for a third year in a row, the company has raised over $150 million in funding from top investors and was recently valued at over $1B by top tier investors. To learn more visit glia.com.
PR Newswire | October 25, 2023
Dragonfly Financial Technologies Corp., a digital banking and treasury management FinTech, today launched FedNow Payments, which gives banks the ability to use the recently deployed FedNowÒ Service. Launched in late July 2023, the FedNow Service is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services. Dragonfly's FedNow Payments is a standalone solution that can be added to any bank's digital offering.
Dragonfly's FedNow Payments enables instant, 24/7/365 payments, which permits faster payroll processing, more intuitive bill payments, improved cash flow improving reconciliation, cash forecasting and liquidity management and enhanced overall transaction efficiency. The solution will be interoperable with existing payment systems, enabling seamless integration with various digital banking platforms and financial service providers. Real-time payments are forecasted to facilitate additional economic output to the tune of $173 billion in formal GDP, as well as forecasted to drive $184 billion in aggregated net savings for consumers and businesses.
The FedNow Service is set to transform the current payment ecosystem. As we continue to expand our digital composable banking platform, we know it's of critical importance to have the latest payment solutions available for our customers. said Jim Gillespie, Chief Product Officer at Dragonfly Financial Technologies Corp. Our FedNow Payments enables banks to provide their customers with real-time, flexible payments that are secure and scalable, and we're excited to offer this new payment option to banks that are making the jump to the FedNow Service.
Dragonfly's FedNow Payments will also be added to its industry-leading Universal Online Banking platform - the only composable banking platform on the market purpose-built for today's digital and embedded business banking needs. Because the Dragonfly platform is designed for ultimate flexibility, agility and ease of use, customers can choose the implementation option best suited for the needs and size of the bank and their corporate clients. FedNow Payments is a payments option available in each composable banking deployment: Dragonfly Digital, Dragonfly as a Service and Dragonfly Embedded Banking.
About Dragonfly Financial Technologies Corp.
Dragonfly Financial Technologies is a banking-as-a-service FinTech powering innovative digital customer experiences for commercial banking institutions. Dragonfly Commercial Banking Platform unites internal banking systems and unlocks their collective value, enabling banks to provide a superior customer experience and introduce new services with speed and ease. And with the industry's largest portfolio of APIs, the Dragonfly platform connects seamlessly to the world's most popular FinTech applications. Commercial banking customers worldwide – including top-10 banks in the US and Asia – rely on Dragonfly to initiate and collect payments and manage daily financial operations for their corporate clients. For more information, visit www.dragonflyft.com.