Hudson, Mass.-based bank Avidia Bank has selected digital banking service provider Q2 to improve its digital banking capabilities.  

The $2.5 billion bank will also tap data-driven personalization fintech Personetics’ AI-driven engagement platform through Q2’s platform, Avidia Chief Marketing Officer at Avidia Bank, Janel Maysonet told Bank Automation News.

In selecting Q2, Avidia will gain access to digital banking solutions, AI-powered insights and the ability to embed fintech solutions into the bank, Maysonet told BAN. In fact, it can embed fintechs like Personetics through Q2’s Innovation Studio, she said. 

Bluevine launches SMB credit card with Mastercard

Banking platform Bluevine launched the Bluevine Business Cashback Mastercard on June 25.  

“Bluevine identified a void in the small-business credit card marketplace, which was emphatically validated by our customer base,” Aditya Narula, senior vice president and general manager of lending and credit at Bluevine, told BAN. 

To fill that void, the Bluevine Business Cashback Mastercard allows small-business clients to use the card for daily needs and gain 1.5% cash back on purchases, Narula said.  

“Partnering with Mastercard really opens up a broad network and set of features that small businesses can leverage for success,” he said. 

Citi invests in Numerated

Citi has invested an undisclosed amount in AI-driven online lending and financial analysis service provider Numerated.  

“At Citi, we have found a bank that shares our commitment to innovation and solving pressing underwriting challenges,” David O’Malley, president of Numerated, told BAN. “This partnership allows us to scale our operations and reach a global audience of Citi users.” 

Numerated plans to use the funds to scale its operations and target top tier banks, O’Malley said, adding that the company is looking to create a platform that “is robust, reliable and adaptable, capable of serving bankers in diverse locations such as Cincinnati and Singapore alike.” 

With Citi’s backing, Numerated will be exposed to a global customer base helping the company meet “diverse regulatory requirements, cultural nuances, and varying market conditions across different countries,” O’Malley said. 

Investors have become increasingly stringent with their requirements in recent years, seeking more mature solutions that present lower risks, he said. 

Banc of California, Independent Bank and FNBC Bank and Trust are some of Numerated’s clients, according to the company’s website. 

Samsung invests in digital wallet Curve

Smart phone giant Samsung has invested an undisclosed amount in digital wallet and credit card provider Curve, according to a June 24 Curve release. 

London-based Curve’s total funding has surpassed $250 million to date, a company spokesperson told BAN. The company was founded in 2015, according to Crunchbase. 

Curve provides the following solutions: 

• Eliminating currency conversion fees; 

• The ability to move past purchases between accounts; 

• Cashback rewards; 

• The ability to combine multiple cards; and 

• Payments security and insights. 

“Curve’s technology, including its ‘all-in-one’ card and ‘go back in time’ feature, is already integrated into Samsung Pay,” the spokesperson said, adding that additional solutions are to come along with expanded operations in North America and Europe post-funding. 

Visit Bank Automation News’ Transactions Database, which lists the technology selected or acquired by companies in the financial services industry, with a specific focus on technology that enhances automation.

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