Financial institutions looking to modernize their internal systems in 2022 have often turned to fintech acquisitions or partnerships for cloud computing, digital banking, robotic process automation, payments capabilities and more.

Here are Bank Automation News’ five most-read transaction stories of 2022:

1. Envestnet acquires business intelligence firm Truelytics

Wealth management giant Envestnet acquired business intelligence software-as-a-service (SaaS) digital platform Truelytics in May to support advisors through combined data, analytics and wealth technology. Envestnet also partnered this year with Tata Consultancy Services and with U.K.-based platform-as-a-service provider FNZ to launch real-time account opening.

2. Banks select solutions from Chainalysis, Temenos and Teslar Software

The $5 billion Cross River Bank in March selected blockchain data company Chainalysis for cryptocurrency compliance. Chainalysis offers a real-time transaction compliance platform and risk management software that the bank leverages to expand its crypto offerings, including crypto wallet services and non-fungible tokens (NFTs).

Rakuten Europe Bank and Banco de la Nacion del Peru in March chose Temenos for cloud banking to support business expansion and product development.

First National Bank of North Arkansas selected Teslar Software to automate its lending process for commercial customers. The technology automates loan origination, document workflows and portfolio and risk management.

3. Discover, HSBC tap IBM for cloud and quantum computing

Credit card company Discover and banking giant HSBC selected IT consultancy IBM to shift their core processes

into a hybrid cloud to automate and scale their digital solutions. Additionally, $2.9 trillion HSBC joined IBM’s Quantum Accelerator program to access the tech provider’s quantum computing systems for operational support, including training initiatives.

4. Challenger bank chooses Temenos cloud, Jack Henry wins at community bank

Colorado-based Battle Bank in April selected Temenos’ banking cloud for global currencies and precious metals accounts. The bank was looking to enhance its unique deposit offerings in 20 different global currencies including the U.S. dollar. The neobank is awaiting full regulatory approval but has been rewarded conditional approval by the OCC and expects to launch as a national bank charter in early 2023, according to the bank’s website.

The $600 million Lea County State Bank chose Jack Henry’s Banno Digital Platform to assist in the bank’s digital transformation through automation and streamlining manual processes.

5. Visa teams up with fintech WEX

Visa reached a multiyear agreement with fintech WEX to enable corporate clients to make payments leveraging Visa’s virtual card capabilities. The payments giant additionally partnered with credit fintech Fundbox and online remittance service Remitly and acquired open banking platform Tink in 2022.

Editor’s note: For more transactions updates, visit Bank Automation News’ Transactions Database.

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