Loan origination systems MeridianLink and Sync1 Systems selected AI-driven lending technology provider Zest AI to integrate its fraud detection tool Zest Protect last week.

The FTC estimates that consumer fraud losses in 2023 exceeded $10 billion and tech providers are looking for ways to combat that fraud for bank and credit union clients, Zest AI Chief Executive Mike de Vere told Bank Automation News.

MeridianLink and Sync1, both existing Zest AI clients, are adding to their capabilities to fight fraud for financial institution clients, de Vere told BAN. “Being able to tailor a fraud solution that is for that specific financial institution’s issue was something that was very important to them, that was the impetus of Zest Protect.”

Users of the solution can configure fraud detection thresholds, according to separate statements from MerdianLink and Sync1.

The solution, which integrates with the loan origination platforms, uses AI to identify fraud in the loan decisioning process, according to Zest AI.

The $750 million Gather Federal Credit Union and $14.7 billion VyStar Credit Union are among Zest AI’s clients.

Retailers tap Synchrony’s financing tech

Retailers are tapping digital bank Synchrony’s patented tech to expand consumer payment options.

The $117.5 billion Synchrony in January extended its 25-year credit card partnership with Sam’s Club and was selected by fashion retailer KnitWell Group to provide financing and rewards through a white-label credit card double-branded with Mastercard starting in September.

Synchrony provides credit approval for Sam’s Club cardholders through its dApply platform and financing through its SyPi plug-in, according to the bank.

The dApply platform allows credit card applicants to streamline authentication by entering the last four digits of their Social Security numbers, which automatically fills out basic fields, saving time and effort, according to the bank.

Synchrony’s SyPI plug-in is integrated into a partner’s payment platform, enabling retail customers to apply for credit, make transactions and access their accounts through that app, Synchrony said.

Alliant CU teams up with Backbase for digital banking

The $20 billion, Atlanta-based Alliant Credit Union is integrating fintech Backbase’s Engagement Banking platform to boost efficiency, Alliant announced Jan. 28.

The platform provides:

• Digital identity management;
• Omnichannel banking;
• Personalized customer service;
• Loan origination;
• Workflow automation; and
• AI-powered data insights.

Backbase’s other financial services clients include $217.5 billion Citizens and $186.3 billion KeyBank.

Sumeet Grover, executive vice president and chief digital and marketing officer at Alliant, will lead a discussion on technology and automation in financial services at Bank Automation Summit 2025 on Tuesday, March 4, at 9:45 a.m. CT.

Elga CU picks Tyfone’s banking platform

Grand Blanc, Mich.-based Elga Credit Union is integrating digital banking provider Tyfone‘s nFinia digital banking platform for retail and commercial members.

The platform, which includes a customizable dashboard, enables:

• Account overviews;
• Card management;
• Fund transfers;
• Financial wellness reports;
• Payments; and
• Marketing.

The $1.6 billion Elga CU is using technology to support underserved communities in addition to SMBs and chose Tyfone’s platform for its configurability, Zach Eychaner, vice president of digital experience, said in a Jan. 30 release form the credit union.

Other financial institutions using Tyfone’s platform include:

• $2.8 billion Credit Union of Colorado;
• $2 billion Emprise Bank; and
• $1 billion Diamond Credit Union.

UFCU integrates InvestiFi’s robo solution

Saginaw, Mich.-based United Financial Credit Union is expanding its digital banking capabilities to cater to members between ages 18 and 40.

The $316.7 million UFCU’s first project this year is to integrate a robo solution for guided investing from fintech InvestiFi, a UFCU spokesperson told BAN.

The tool, which takes about three months to integrate, is expected to launch by the end of the first quarter or the beginning of Q2, the spokesperson said.

With the solution, robo advisers provide automated investment management services, and members can use their credit union checking account to purchase, sell and hold assets, the spokesperson said.

UFCU, which has more than 22,000 members, plans to automate more routine tasks and develop new digital products this year, the spokesperson said without disclosing specifics.

The credit union’s digital banking capabilities already include:

• A mobile banking app;
• Crypto trading;
• Deposits and payments;
• Loan applications;
• Fund transfer;
• Online bill pay with the option to pay using Amazon Alexa or voice pay.

Bain taps Versana for digital loan data

Boston-based private investment firm Bain Capital Credit is adding software provider Versana’s digital data platform and reconciliation solution for real-time loan insights and to speed the loan decisioning process.

The $48 billion Bain is the latest of 13 financial institutions using Versana’s platform; other clients include founding investors $3.9 trillion J.P. Morgan, $2.6 trillion Bank of America and $2.4 trillion Citi, a Versana spokesperson told BAN.

Versana raised $26 million in 2024 with participation from $2 trillion Barclays and plans to use the funds for European expansion, the spokesperson said.

MongoDB, Lombard Odier launch gen AI service

Swiss private bank Lombard Odier is working with software company MongoDB to modernize using gen AI.

MongoDB, which has worked with the bank for 10 years, was chosen by Lombard Odier in 2020 as the core provider for the bank’s Portfolio Management System, a MongoDB spokesperson told BAN.

The integration of MongoDB’s cloud-agnostic database platform took four years and the collaboration is part of Lombard Odier’s seven-year modernization initiative that kicked off in 2020, the spokesperson said.

The $352.7 billion Lombard Odier and MongoDB also developed a modernization factory to automate banking processes and eliminate barriers associated with legacy systems, the spokesperson said. The solution is able to migrate code 50 to 60 times faster, according to the company.

MongoDB also works with $1.9 trillion Wells Fargo and $217.5 billion Citizens.

Bluevine teams with Xero for accounting services

Fintech Bluevine has tapped online accounting service provider Xero to give its SMB customers accounting services on Bluevine’s banking platform, according to a Bluevine Feb. 3 release.

“By combining our platform with Xero’s accounting services, we’re making it easier for entrepreneurs to manage their finances and focus on growth,” CEO Eyal Lifshitz told BAN. “This integration allows them to streamline their finances, remove the complexity and make smarter, faster decisions.”

Xero will allow Bluevine customers to track expenses, analyze financial performance, manage cash flow and access accounting services, according to the release.

Bluevine surpassed $1 billion in SMB deposits last year and has nearly 500,000 SMBs using its services, according to a Dec. 1 release.

Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.