Transactions: Amex, Boost team up on virtual card

American Express and Boost Payment Solutions will provide commercial card processing to U.S.-based American Express merchants, the pair announced Sept. 30. Amex merchants will have access to Boost’s straight-through processing solution, Boost Intercept, allowing them to accept virtual cards while avoiding manual processes, Boost founder and Chief Executive Dean Leavitt told Bank Automation News. [caption id="attachment_57365310" align="alignright" width="300"] (Courtesy/Bloomberg)[/caption] “Participating Amex merchants who sign up for Boost Intercept will enjoy end-to-end automation, enhanced remittance reporting and added security for all American Express virtual card payments at no additional cost,” Leavitt said. Boost Intercept is available to qualifying Amex merchants, he said. AWS, Smarsh to bring gen AI to FIs Amazon Web Services and communications and data intelligence provider Smarsh announced a five-year agreement on Sept. 24 to collaborate on generative AI solutions for the financial services industry. AWS and Smarsh will offer tools to manage risk, improve customer experience and boost engagement at financial institutions, John Kain , head of financial services market development at AWS, told Bank Automation News . FIs are leaning on data to meet operational and compliance needs, Kain said. The Portland, Ore.-based Smarsh will use Amazon’s Bedrock solution on its existing data infrastructure to reduce repetitive human activities and increase the speed of data analysis, Kain said. Northstar Financial, Point West Credit Union and Schanna Financial are some of Smarsh’s FI customers, according to the company. Digital FCU, First Tech FCU to merge The $12 billion Digital Federal Credit Union and $17 billion First Tech Federal Credit Union last month announced plans to merge. The combined entity would be a $28.7 billion institution serving 2 million members with more than 50 branches in eight states, according to a Sept. 30 Digital FCU release. “Our credit unions have a shared origin — each created to serve the financial needs of technology employees, their families and digital savvy members across the country,” Digital FCU Chief Executive Shruti Miyashiro said in the release. The merger, which is expected to close in 2025, must be approved by the National Credit Union Administration , according to the release. Hummingbird acquires LogicLoop to boost risk, compliance monitoring Risk management solution provider Hummingbird acquired no-code data integration and automation fintech LogicLoop on Sept. 20 to improve and compliance governance and access to data. “We continually hear from organizations of all sizes that are struggling to efficiently access their data,” Hummingbird CEO Joe Robinson told BAN . “With the acquisition of LogicLoop, we’ll offer enhanced support for no-code integrations, flexible algorithms to get immediate access to data, and a single system with visualization tools to support in-depth and ad-hoc data exploration." With LogicLoop integrated into Hummingbird, Hummingbird clients will have simplified access to their data to use in risk management, he said. The acquisition “will enable clients to unlock the full potential of their data, no matter where it resides,” Robinson said. Mastercard buys subscription management provider Minna Technologies Payments behemoth Mastercard has purchased subscription service provider Minna Technologies for an undisclosed amount, according to an Oct. 1 Mastercard release. Mastercard aims to improve subscription service management for business clients with Minna’s services, the release stated. The transaction needs regulatory approval. According to Crunchbase , in 2024, Mastercard has acquired: Payments service provider AtoB on Sept. 19 for $130 million; Online lender Hello Alice on April 4; and Digital wallet service provider Wellthi on Jan. 27. Ocean Bank expands ATM network with NCR Atleos Ocean Bank has joined ATM service provider NCR Atleos ’ Allpoint Network. The network will provide the $6.4 billion Ocean Bank’s customers access to 40,000 ATMs across the country, the NCR release stated. “Allpoint provides convenient access to cash for over 1,150 banks, credit unions and card programs,” an NCR spokesperson told BAN . “New Allpoint customers can be brought live with no IT lift in as little as 45 days.” Visit Bank Automation News’ Transactions Dashboard, which lists the technology selected or acquired by companies in the financial services industry, with a focus on technology that enhances automation.

Transactions: Amex, Boost team up on virtual card

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Transactions: Amex, Boost team up on virtual card

AWS, Mastercard, Hummingbird, NCR, Digital Federal Credit Union among dealmakers

25 questions financial institutions are asking about gen AI

Bank of America mobile app, digital interface down

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