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Traditional FIs Drive Modernization Through FinTech Pairings

PYMNTS

In this week's roundup of bank-FinTech collaboration and open banking initiatives, Citi embraces the unlocking of account data to third-party FinTechs, while WEX weighs in on opportunity for banks to take advantage of partnerships. Plus, one FinTech offers a new spin on the open banking model to drive financial inclusion.

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Massachusetts Mutual To Buy FinTech RIA Platform Flourish

PYMNTS

Massachusetts Mutual Life Insurance Company (MassMutual) has agreed with Stone Ridge Asset Management , which has over $10 billion in assets under management (AUM), for MassMutual to acquire FinTech registered investment advisor (RIA) platform Flourish , according to a press release.

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Secret Double Octopus Reports Investment From SC Ventures

PYMNTS

Secret Double Octopus , which works in passwordless authentication for security online, has secured a strategic investment from SC Ventures, the FinTech and investment arm of international banking group Standard Chartered , a press release says. The company boasts a simple user experience and a formidable protection against cyberattacks.

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REPORT: Payment Tech Tops FIs’ Innovation Agendas

PYMNTS

This starts with payment technology, the essential infrastructure needed to support current and future digital payment developments, from contactless and push payments to transactions on real-time payment rails. Payment technology is in many ways the flagship among the fleet of innovations that banks are pursuing.

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Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

Lithuania wants to become a global FinTech powerhouse. In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment.

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How 5G Will Shake Up Banking and FinTech?

PYMNTS

Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. The debut of 5G promises to add another tool that can aid such efforts. Latency Advantages.

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The Pandemic’s Push For The FI/FinTech ‘Win-Win’

PYMNTS

Kikkeri said that’s why FIs must consider how to leverage their FinTech partnerships and push to market the digital services that customers have become habituated to in the past six months. Apple and Google are bringing a new level of user experience to banking and payments that did not exist before now,” Kikkeri said.

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