Fifth Third Bank acquired embedded payments fintech Rize Money last week as the bank looks to enhance its financial product offerings. Terms of the deal were not disclosed.

Arlington, Va.-based Rize Money is a platform that allows clients to build, launch and scale financial products through one API connection, according to a Fifth Third release.

The acquisition was “a perfect fit in terms of roadmap product technology that we were looking to build on the Fifth Third side to greater improve the ability for clients to connect into the bank and consume our embedded payment services,” Tom Bianco, general manager of embedded payments at Fifth Third, told Bank Automation News.

Through the acquisition, Fifth Third commercial clients will have the ability to add embedded payments to their mobile app offerings through “get paid” or “pay someone” button, Bianco told BAN. “Rise now will deliver us the API that allows that company to do an integration directly at the point of needs in their digital journey or digital client experience.”

The bank will bring the entire Rize team over and integration plans will be announced in the coming weeks, Bianco said.

In March, the $208 billion bank acquired technology solutions provider Big Data Healthcare to further its payments capabilities.

J.P. Morgan Asset Management looks to Clearwater Analytics for trading solution

J.P. Morgan Asset Management platform Morgan Money selected software-as-a-service solution Clearwater Analytics to help clients navigate their investment portfolios and make investment decisions in real time.

Integration of Clearwater Analytics to the Morgan Money platform “combines J.P. Morgan’s asset management expertise with Clearwater’s powerful investment accounting technology,” Paul Przybylski, global head of product strategy and Morgan Money at J.P. Morgan Asset Management, said in a J.P. Morgan release.

Clearwater allows Morgan Money clients to view portfolio analytics in real time to understand the broader money market, Przybylski said.

“As a result, investors are able to make informed choices, enhance portfolio performance, and ultimately drive long-term success in the face of today’s dynamic market conditions,” Scott Erickson, chief revenue at Clearwater Analytics, said in the release.

Platinum Federal Credit Union selects Jack Henry’s Symitar

Platinum Federal Credit Union selected tech provider Jack Henry’s Symitar on Wednesday to provide a suite of banking services to its over 10,000 members.

Duluth, Ga.-based PFCU, which was founded in 1999 to serve the United States’ Shia Ismaili Muslim community, chose the open banking platform for its configurability, according to a Jack Henry release.

Through Symitar, members can access to payment services such as wire transfers and Automated Clearing House (ACH), as well as more automation in managing their finances and intuitive tools to track spending, according to the release.

“Jack Henry’s platform will scale our mission, offering retail and business members a fully integrated view of their finances across lending, financial management and payments services,” PFCU CEO Kabir Laiwalla told BAN.

PFCU joins L&N Federal Credit Union which selected Symitar in January to digitize the institution and grow membership, Shanon Mclachlan, president of credit union solutions at Jack Henry, previously told BAN.