Digital wallet company Wedge is teaming with Visa to launch a debit card within Visa’s network in the U.S. using Wedge’s card technology. 

Austin, Texas-based Wedge’s card allows users to liquidate their assets — including stocks, ETFs and crypto — to pay for goods and services, according to the company.

“We are always looking for ways to give our users a best-in-class payments experience,” Wedge Chief Executive Billy Roberts told Bank Automation News. “Partnering with Visa helps provide our users with industry-leading access and benefits … It will expand the reach of the Wedge Card, strengthen the security of our card and give us access to Visa’s industry-leading innovation.” 

The partnership had been in the works since the second half of last year, with the integration of the card taking “some time this year” to get the Visa integration up and running for Wedge’s partners and cards, Roberts added. 

ShieldPay taps Fenergo for client data platform

Payment services provider ShieldPay is selecting compliance solutions company Fenergo to consolidate its client data for regulatory purposes. 

London-based ShieldPay plans to use Dublin-based Fenergo’s technology to consolidate real-time know-your-customer and anti-money laundering data into one platform, which helps the payments platform meet compliance and regulatory requirements, a release from the companies stated. 

“Fenergo enables ShieldPay to scale while being safe from regulatory perspective in every jurisdiction,” a Fenergo spokesperson told BAN. “Fenergo is also a security first organization, which sets us apart in the software-as-a-service (SaaS), client lifecycle management space.”  

The partnership has been in development for the last six months, with plans to go live in the second quarter of this year, the spokesperson said. 

Laserfiche chooses Boomi for faster client integrations 

SaaS company Laserfiche has chosen integration-platform-as-a-service company Boomi to assist with more agile integrations for its customers within the financial services industry. 

The Long Beach, Calif.-based Laserfiche aims to simplify integrations between its content services platform and on-premises and cloud applications using Boomi’s connectors to more than 1,500 applications to help solve problems with onboarding and security, a company release stated. 

“Laserfiche is excited to bring a proven system for data centralization and process automation to the Boomi ecosystem, enabling more speed, greater agility and stronger security in our customers’ integrations,” David Everson, Laserfiche’s senior director of strategic solutions, said in the release. 

Wise, G-P team on international payments

Money transfer company Wise is partnering with global employment platform G-P to assist businesses with international payments. 

The partnership is meant to give businesses a greater level of control over transactions by delivering flexible payment options and a transparent view into the process via the G-P platform, a release from the companies stated. 

“We’ve seen a growing need from companies to have more control over their international payments, especially to contractors, and are proud to see G-P trusting Wise to manage and power their cross-border capabilities. We look forward to working with G-P as they break down the barriers to global business,” said Steve Naude, head of Wise, in the release. 

Through the partnership, businesses will be able to choose their form of payment from various options — including wire, ACH or bank transfer — and provide real-time quotes on exchange rates from more than 50 types of currency, according to Wise.  

Wise has previously partnered with online banks such as London-based Monzo, according to the company’s website. 

Mizuho International selects SymphonyAI to mitigate money laundering

London-based securities and investment banking firm Mizuho International has selected enterprise SaaS company SymphonyAI to help tackle money laundering within its business. 

Mizuho will use the SensaAML platform from SymphonyAI, which uses machine learning models to detect anomalies and risk similarities to provide risk protection against fraudulent transactions, a release from the companies stated. 

“We needed a solution that helps analysts, through user interfaces, to deliver all the information needed to expedite investigations. SensaAML will make a significant difference in our long-held fight against money laundering,” Dinesh Joshi, chief compliance officer at Mizuho said in 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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