Data Zoo, a leading global identity verification provider, has announced a strategic partnership with Alloy, an identity and fraud prevention platform trusted by over 600 banks, credit unions, and fintech companies. This partnership aims to simplify global customer onboarding and enhance compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. By integrating Data Zoo’s global data assets into Alloy’s orchestration platform, financial institutions can seamlessly access both traditional and non-traditional data sources through a single API, improving accuracy in identity verification and expanding their reach into new international markets. Reducing Fraud and Onboarding FrictionThe integration provides financial organizations…
Author: Editorial Team
Finastra, a leading provider of financial software applications, announced that Al Rayan Bank, one of Qatar’s largest Islamic banks with a global presence, has chosen its next-generation core banking solution. This strategic move is part of Al Rayan Bank’s ongoing digital transformation to improve operational efficiency, reduce costs, and deliver enhanced Sharia-compliant services to its customers. “We are undergoing a technology transformation journey to ensure we continue offering robust, digital Sharia-compliant services that meet our customers’ needs when and where required,” said Hamad Al Kubaisi, Group Chief HR Officer at Al Rayan Bank. “Upgrading our core banking system is a…
Conferma, a leading virtual payments provider, has partnered with global commerce platform WEX to offer Concur® Invoice customers a simplified and cost-effective way to manage B2B payments. This global integration enables businesses to pay suppliers using WEX-issued virtual Mastercards powered by Conferma’s cutting-edge technology, reducing costs and enhancing control over payment processes. Jason Lalor, CEO of Conferma, stated:”This powerful integration combines Conferma’s market-leading technology, WEX virtual cards, and Concur® Invoice’s capabilities to transform the B2B payment journey. By connecting companies through an advanced payments infrastructure, businesses can focus on growth while simplifying operations.” The integration of virtual cards into Concur®…
10x Banking, a leading cloud-native core banking platform, has been named a ‘Luminary’ by Celent in its Next-Gen Core Banking Platforms report for mid-large banks. Positioned in the top-right quadrant, 10x received the highest accolade for its outstanding performance across key criteria, showcasing exceptional experience and technical depth. Celent evaluated 13 next-gen core banking platforms using its Technical Capability Matrix, focusing on Advanced Technology and Breadth of Functionality. 10x Banking stood out for excelling in both areas, earning recognition for its ability to meet the performance and transformation needs of tier 1-4 banks with assets exceeding $20 billion. Powering the…
AMP has launched a new digital-first bank to revolutionize banking for Australia’s small business owners, solopreneurs, and everyday banking customers. Designed for seamless mobile banking, the platform integrates advanced security and smart financial tools to streamline business management and personal finance. Empowering Small Businesses with Smarter Banking Nearly 90% of Australian businesses are small, with 2.4 million employing fewer than four people. A quarter of them generate under $50,000 annually, making traditional banking solutions ill-suited for their needs. AMP’s new bank aims to eliminate financial management hassles, offering a flexible, mobile-first solution that adapts to the fast-paced world of small…
In response to the growing surge in check fraud across the nation, CSI, a leader in financial technology solutions, has introduced a cutting-edge check fraud detection tool for NuPoint® customers. This innovative solution, powered by Mitek Systems, equips bank tellers with real-time fraud detection capabilities to protect customer assets at the teller line. Deposits made through other channels undergo comprehensive overnight evaluations. “Our priority is to protect our customers by identifying fraud as early as possible,” said Heather Deneault, assistant vice president and deposit operations officer at Denison State Bank, Northeast Kansas. “By integrating CSI’s fraud detection solution, we’re enhancing…
Western Union and Penny Pinch have joined forces to launch international money transfer services within the Penny Pinch app, offering customers in the Eastern Caribbean a seamless way to send and receive money globally. Penny Pinch, the region’s leading digital wallet provider, now allows users to receive funds directly into their wallets through Western Union’s extensive global network, covering over 200 countries and territories. Customers can also transfer funds to bank accounts and mobile wallets worldwide or opt for cash pick-up at international locations. “Strengthening Financial Connections Globally””Western Union has always been a strong supporter of the communities in St.…
OMB Bank is excited to unveil OMBX, its new embedded finance division designed to empower fintechs and digital-first companies with seamless, secure banking solutions. With seven fintech clients already onboard and several more in the pipeline, OMBX is on track to become a leading embedded finance partner in the industry. The launch of a dedicated OMBX website marks a significant milestone in the bank’s mission to deliver a scalable and compliant banking infrastructure. By blending cutting-edge technology with deep expertise in the fintech ecosystem, OMBX simplifies the process for companies to embed financial services into their platforms. “Embedded finance is…
Okoora, a global leader in embedded finance and foreign exchange (FX) risk management solutions, has officially entered the U.S. market. The company offers an extensive suite of APIs and finance solutions designed for financial institutions, fintech firms, and non-financial companies. These organizations can utilize Okoora’s services for their internal operations or integrate them into their service offerings, enhancing customer experiences and expanding capabilities. Okoora’s core services include multi-currency accounts, global payment solutions, real-time FX conversions, and advanced currency risk management through hedging strategies. The U.S. expansion follows Okoora’s recent entry into the German market. While the core offerings remain consistent,…
United Fintech’s full acquisition of Commercial Banking Applications (CBA) signals a major step toward transforming the commercial banking sector with advanced fintech solutions. CBA is widely recognized for its API-driven trade finance and payments technology, serving top-tier banks across Europe and Asia, including ABN AMRO. This strategic acquisition enables United Fintech to accelerate digital transformation for financial institutions worldwide. By integrating CBA’s innovative solutions, United Fintech empowers commercial banks with enhanced automation, security, and operational efficiency. CBA’s expertise in API-based banking technology, combined with United Fintech’s global network, strengthens the digital infrastructure of leading financial institutions. United Fintech remains focused…
