Fintech, Finance, Technology, Banking Highlights – 24 September 2018

Ant Financial Launches Ant Financial Technology Brand with Full Suite of Technology Products and Services to Support Growth of Financial Institutions

Ant Financial Services Group announced that the company would open up a full suite of technology products and services under a new brand, Ant Financial Technology, to support the growth of financial institutions by improving user experience and lowering costs.

Announcing the launch of the Ant Financial Technology brand at the 2018 Ant Technology Exploration Conference (ATEC) in Hangzhou, Xi HU, Deputy CTO of Ant Financial said, “Since our establishment in 2014, Ant Financial has focused on developing cutting edge technologies to enable inclusive finance. We are pleased that our technology products and services have already been used to improve efficiency and lower costs at approximately 200 financial institutions, including more than 100 banks, over 60 insurance companies, and more than 40 asset management firms and security brokers. Going forward, we will offer a full suite of technology products and services to power the growth of our financial institution partners and help them extend their services to more individuals.”

RippleNet is Now Live in over 40 Countries across Six Continents

Ripple, provider of the enterprise blockchain solutions for payments, announced that its network (RippleNet) is now live in over 40 countries across six continents.

The milestone was hit earlier as new payment corridors opened up in North America, Asia, Africa, Europe and South America.

These new open corridors create more connection points for RippleNet members around the world. This provides their customers with more flexibility when sending money to countries where payments are challenging.

Today’s new corridors are in countries where there are large remittance and small business payment needs:

  • United Kingdom to Malaysia, Vietnam, Indonesia, Sri Lanka, Bangladesh (via RationalFX, Xendpay & InstaReM)
  • Canada to Nigeria (via Remitr & FlutterWave)
  • Brazil to Spain, Italy, Germany, France and Portugal (via Beetech & InstaReM).

Finicity and Capsilon Partner to Digitize Mortgage Origination

Finicity, a provider of real-time financial data aggregation and insights, announced an integration agreement with Capsilon, a provider of intelligent process automation software for the mortgage industry.

Under the agreement, Finicity’s Verification of Assets (VoA) solution has been integrated into the Capsilon platform to improve the speed, user experience and economics of the mortgage process.

Finicity’s VoA solution provides bank-validated insights into borrower assets, enabling reports to be generated in only minutes. The solution reduces fraud, frees up resources, shortens time to close and is now integrated with Capsilon borrower and loan officer workspaces to automate asset verification. This further streamlines the loan application process — borrowers no longer need to search for bank statements, and loan officers have more time to focus on higher value activities, such as getting more loans.

“We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” said Steve Smith, Finicity CEO. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”