Core provider Fiserv is teaming with digital wallet company Wedge to offer financial institutions access to a host of payment options. 

The partnership will allow customers to use programmable payments that follow real-time rules to discover, calculate and confirm required conditions so that a payment can be automatically executed without human intervention, Fiserv said in a release. 

“Consumers today are particularly interested in options that simplify the payment experience while enabling their dollars to go further,” Sunil Sachdev, Fiserv’s head of fintech and growth, said in the release. “By facilitating availability of programmable payments via AppMarket, we’re empowering our clients to connect their accountholders with the fintech experiences they desire, all through their trusted financial institution relationship.”   

Austin, Texas-based Wedge offers bank customers credit and debit card options that allow them to use stocks, crypto, ETFs or cash for purchases, according to a company release. 

Mechanics Cooperative Bank expands Finastra partnership  

Taunton, Mass.-based Mechanics Cooperative Bank has selected core provider Finastra’s Payments to Go to allow for real-time payments through The Clearing House and to quickly join the FedNow rail, which is expected to go live this year.

The $645 million bank plans to use Finastra’s cloud capabilities to introduce new business payments services and improve the customer experience, according to a release. 

“When it was time to enhance our payments services, we saw Finastra and Payments to Go as the obvious choice to help us adopt an agile and cloud-based payments hub,” Joseph Baptista Jr., president and chief executive of Mechanics Cooperative Bank, said in the release. 

Finastra’s deal with Mechanics Cooperative is the latest in a string of partnerships for the company, having recently signed with customer service platform Glia and payments service Veem. 

Galaxy acquires open banking platform Underlie 

Open finance fintech Galaxy is planning an expansion in Egypt with its purchase of open banking platform Underlie for an undisclosed amount. 

The Dubai-based Galaxy plans to develop and launch digital solutions while pushing for financial inclusion in Egypt, according to a release from the fintech. 

“Underlie’s expertise in building open banking APIs and knowledge of the local market will help us speed up our Egypt market penetration, boost the expansion in the region and release countless opportunities to create new open banking and open finance-enabled use cases,” Riyadh Al Zamil, chairman of Galaxy’s board of directors and investors, said in the release. 

Galaxy plans to use the technology and new staff to expand its capabilities with cross-border payments, the release added. 

GammaRey merges with GoLogiq 

Consumer data analytics company GoLogiq has finalized its $320 million merger agreement with blockchain fintech GammaRey. 

New York City-based GammaRey plans on integrating GoLogiq’s data into its platform to “become a comprehensive fintech platform for underserved businesses and consumers that is generating strong revenue growth and cash flow,” GoLogiq chairman Brent Suen said in a release. 

The merger plans to focus on the wealth management market for generation Z and millennial customers, according to the release. 

GammaRey said it has nearly $800 million in consumer assets, with Suen adding that GoLogiq is in the late stages of completing an acquisition with more than $9 billion, although the deal has not been announced, according to the release.  

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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