Today, API-connected data access network Akoya teamed up with credit infrastructure and analytics company Nova Credit to allow lenders to deploy cashflow and income data. 

This will ultimately improve credit decisioning, Misha Esipov, co-founder and chief executive at Nova Credit, told Bank Automation News today. 

“We have an API connection with Akoya, where customers can apply for credit,” he said. “We work with that customer, we go and fetch their data through the Akoya network, and then we can deliver that data to help those applicants have a better chance of approval.” 

Akoya CEO Paul LaRusso said in today’s release, “Akoya continues to simplify and secure data access in the open banking era.” With Nova Credit, “we can provide an open banking-powered solution that delivers cash flow and credit risk analytics atop our high-fidelity data network.” 

State Street selects Taurus for digital asset capabilities

State Street Corp. selected digital asset infrastructure provider Taurus to provide asset custody, tokenization and node-management services to its clients. 

The $321 billion bank will use Taurus-PROTECT and Taurus-CAPITAL solutions, which help streamline the process of creating and managing tokenized assets, according to an Aug. 20 release. 

“The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience,” Donna Milrod, State Street’s chief product officer and head of digital asset solutions, said in the release. 

Other major financial institutions, including Citi, JPMorgan and U.S. Bank, have teamed up with vendors like NYDIG and BondBlox to provide digital asset services to their customers, according to the banks’ news releases. 

PayPal taps Fiserv for e-commerce checkout

PayPal is expanding its partnership with payments giant Fiserv to allow Fiserv clients to use PayPal for online payments. 

Fiserv clients can access the Fastlane by PayPal solution to allow customers to easily pay for their purchase through their PayPal account, according to an Aug. 29 release.  

“We’re excited to deepen our collaboration with Fiserv and extend our innovative products and solutions to a broader audience,” Frank Keller, executive vice president and general manager of the large enterprise and merchant platform group at PayPal, said in the release. 

Merchants deploying Fastlane have seen a 50% increase in their sales conversion rate and a 32% drop in checkout times, according to the release. 

United Community selects Finzly to improve FX offerings

Digital bank United Community selected fintech Finzly in August to expand its foreign exchange business, improve its offerings and ultimately compete with larger financial institutions, according to an Aug. 7 release. 

The $27.1 billion United Community has integrated Finzly’s FX platform, which allows clients to make international transactions without costing the bank additional fees, Booshan Rengachari, founder and chief executive of Finzly, told BAN. 

Having these offerings in place is essential for customer retention, customer service and even revenue generation, he said. 

David Barrows, senior vice president and director of digital banking at United Community, said in the Finzly release that the “the new FX platform will not only expand our international banking capabilities but also enhance the overall customer experience by offering seamless and efficient services.” 

Finzly in August also announced a new partnership with corporate payments provider Corpay on Aug. 15, Rengachari said.  

Together, Corpay and Finzly will “empower financial institutions and their clients with seamless access to real-time FX rates, spanning over 200 international markets, and automated processing capabilities,” Brad Loder, chief marketing officer at Corpay Cross-Border Solutions, said in an Aug. 15 release. 

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.   

Register for the upcoming complimentary webinar presented by Bank Automation News: “The future of open banking: Payments meet data,” on Tuesday, Sept. 17 at 11 a.m. ET. Register for the webinar here.