Atto and FICO are combining their expertise to deliver transaction-based scores that rank-order consumers’ risk by analysing up-to-date consumer-permissioned current account and tradeline transaction data. The combination of Atto’s Open Banking technology and FICO’s rich heritage in transaction data analytics can provide lenders with predictive models built on Open Banking data for more targeted risk decisioning. Both companies have extensive experience with Open Banking data; FICO has built scoring models using Open Banking data for other markets since 2018.

“We are excited to join forces with FICO to bring transaction-based predictive models to the forefront of the credit risk industry,” said Clare McCaffery, CCO at Atto. “Risk managers can leverage these scores informed by Open Banking transactional data, giving them a to-the-second view of their customers. We’re delighted to be pushing the world of credit risk forward alongside FICO.”

The Atto Open Banking score, developed by FICO, can enable lenders to enhance their risk management strategies and drive greater efficiency in lending processes. By leveraging up-to-date Open Banking transaction insights, lenders can improve customer acquisition, manage portfolios to greater performance, and mitigate risks to achieve sustainable growth.

“This partnership represents a powerful combination of industry-leading expertise and cutting-edge technology, which can dramatically improve UK lenders’ ability to serve their customers with the right products and offers,” said Alexandre Graff, global head of Global Partners & Alliances at FICO. “Together, Atto and FICO are committed to empowering lenders with the tools they need to compete and grow their business.”

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Engage fi’s comprehensive expertise across essential banking domains sets them apart from other industry consultants. The firm’s team of subject matter experts in core banking, digital banking, and payment solutions offers unparalleled understanding of banking technology and vendor landscapes. Engage fi champions a project team approach, integrating closely with partner teams to ensure a unified effort towards project success.

The partnership with Community 1st National Bank exemplifies the benefits of Engage fi’s approach. “Our recent partnership on a complex project involving multiple services and vendors was exceptional,” shared Kevin Wagner, Senior Vice President. He praised Engage fi team’s vast technology and vendor experience and specialized expertise, which played a critical role in the project’s success. Wagner recommends Engage fi to any bank considering technology updates or vendor contract evaluations.

Engage fi’s model of deep domain expertise and collaborative teamwork meets the essential need for expert-driven partnerships among community banks. Additionally, Engage fi’s experienced conversion services team offers a notable advantage in guiding and executing platform transitions, a rare service among competitors. This blend of expertise, teamwork, and conversion support establishes Engage fi as a preferred partner for banks facing the challenges of technology innovation and implementation.

Their proven process delivers substantial benefits to their clients, specifically tailored to meet the unique needs of community banks. This process is designed to save clients both time and money by leveraging Engage fi’s deep understanding of banking technology and vendor landscapes. Their approach is highly customized, ensuring that the strategy and solutions provided align perfectly with the specific objectives and requirements of every individual bank. From the initial project conception through to completion, Engage fi offers end-to-end support, guiding their clients through every step of the journey.

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Secura/Isaac Group (SIG), a global advisory firm led by former FDIC and Fifth Third Bancorp Chairman William Isaac, helps clients navigate complex regulatory landscape and implement important industry initiatives. The team of highly experienced former bankers, regulators and finance executives helps the financial sector address unprecedented challenges brought about by rapid advances in technology, growing cybercrime activity, and a shifting regulatory landscape. This includes providing assistance to banks as they seek additional capital, helping them anticipate regulatory challenges, and developing executable plans during difficult times.

First Financial Network (FFN) is recognized as an industry leader in the preparation, valuation, marketing and sale of commercial, residential, agricultural and consumer loans. FFN is a woman-owned enterprise founded in 1989 in response to the U.S. Savings and Loan Crisis and the formation of the Resolution Trust Corporation (RTC). This unique position of longevity and depth of service affords FFN a perspective learned through five U.S. and global financial crises and economic cycles. Since that time, FFN has defined the loan sale industry, having securely sold billions of dollars in loans and other assets in over 30 countries. FFN’s market reach extends to a broad network of qualified purchasers.

Together, SIG and FFN’s Advisory Alliance will serve banks, funds and other financial institutions, and domestic and international regulatory agencies.

“I’m delighted to announce this important new alliance,” said Bill Isaac, Chairman of Secura/Isaac Group. “We know that financial institutions will benefit from our combined services as they face economic challenges and regulatory pressures. Our firms offer deep expertise, proven success, and special regulatory insights.”

“The Secura/Isaac Group and First Financial Network are composed of banking, regulatory and financial veterans with an unmatched depth of experience. Combined, this dynamic team can provide practical regulatory and problem solving to bankers and financial institutions facing challenging environments. We are honored to serve with Secura/Isaac and together, offer a holistic approach to regulatory strategy, loan valuations and loans sales,” said Bliss Morris, CEO of First Financial Network.

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Joshua Jordan, Digital Engagement Director at Jack Henry

Joshua Jordan is Digital Engagement Director at Jack Henry.

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Mobile app upgrades include easier management of accounts, enhanced balance and transfer functionality, and increased access to information and assistance. In addition, new web-based features include a redesigned user-friendly interface, improved privacy management, and an easier way to create and update direct deposits.

The advancements to CIT Bank’s mobile app are powered by FIS Digital One Consumer Studio platform, which helps banks build, deploy, and scale their unique digital banking experiences. Now, CIT Bank customers can access all of CIT Bank’s online banking features from the convenience of their mobile devices.

“Consumers expect a seamless digital experience, and with these enhancements to the CIT Bank mobile app, we’ve empowered them with unparalleled banking convenience,” said Ravi Kumar, head of CIT Bank. “Now our customers can bank with ease, with all of our online banking features at their fingertips.”

CIT Bank’s mobile app upgrades, along with its competitive rates, underscore its commitment to providing customers maximum growth for their savings with an effortless banking experience, said Kumar.

“CIT Bank has always been dedicated to creating a leading digital banking experience that sets them apart from their competitive set, and this latest release powered by FIS delivers on that promise,” said John Durrant, President of Banking Solutions at FIS. “With our Digital One Consumer Studio platform, CIT Bank can personalize, customize, and extend their experience to their growing customer base in ways that make them unique amongst other digital direct bank brands.”

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Atomic is proud to announce its partnership with OneSource Virtual (OSV), a collaboration designed to deliver a simplified and secure direct deposit management solution to millions of American workers. This partnership will enable Atomic to directly connect with OneSource Virtual customers to provide their employees with unparalleled control and flexibility over their financial lives.

OSV, an official Workday partner, has earned its reputation as one of the country’s fastest-growing business process-as-a-service (BPaaS) providers serving over 1,000 customers while processing transactions exceeding $150 billion annually. OSV plays a pivotal role in streamlining administrative challenges linked to payroll, taxes, benefits, and accounts payable for national and regional employers. With the introduction of their digital wallet, myFlexWallet, OneSource Virtual is now able to provide tools and services to improve the financial health and well-being of their customers.

Atomic and OSV working together aligns closely with the Consumer Financial Protection Bureau’s (CFPB) Rule 1033, as it fosters greater financial connectivity and empowers individuals with enhanced control over their direct deposit information. This partnership exemplifies how Atomic leads the industry in transforming it into a more interconnected and secure ecosystem, allowing financial institutions to acquire new account holders and become their primary banking relationship. Notably, four of the top 10 financial institutions trust Atomic to deliver the most secure and highest-converting direct deposit switch solution.

John Bax, Chief Financial Officer of OSV, commented on the partnership, stating, “Our collaboration with Atomic represents a strategic move towards empowering employees and fostering financial independence. It’s not just about improving financial processes; it’s a bold step toward enabling individuals to take control of their finances, providing them with the freedom and flexibility to select products and services that benefit them the most. Atomic is a leader in the industry, delivering innovation, security, and user experience, and we are excited about the transformative impact it will have. This announcement furthers our commitment to providing our customers with top-notch financial well-being and support tools for their employees.”

Atomic’s integration with OSV’s digital wallet system streamlines the process of updating direct deposit information through Atomic’s CoAuth Technology, significantly enhancing user experience and operational efficiency by eliminating the need for payroll passwords and traditional login processes. CoAuth technology promises a superior user experience for account holders and lowers the barriers associated with changing financial institutions. To ensure secure identity verification, users benefit from convenient two-factor authentication methods within CoAuth, such as a phone code or the last four digits of their social security number.

Jordan Wright, Co-Founder and CEO of Atomic, stated, “At Atomic, we’re redefining the future of payroll and financial connectivity. Our partnership with OSV exemplifies our commitment to expanding connectivity options, making it effortless for employees to update their direct deposit preferences. Incorporating direct integrations with payroll providers, driven by our CoAuth technology, complements our existing TrueAuth and SmartAuth methods. This multi-pronged approach ensures that each user can select the most suitable connection method, ultimately resulting in increased conversion rates. It’s about creating opportunities for users to take unprecedented control of their financial lives, putting financial freedom within everyone’s reach.”

Atomic leads the way in uniting the financial ecosystem, fostering collaboration between fintechs and banks to shape a more open and interconnected financial system. With several promising partnerships on the horizon, including collaborations with some of the industry’s largest payroll providers, this reflects their unwavering commitment to establishing a transparent, accessible, and much improved financial landscape for consumers.

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Powered by CFI-specific large language models (LLMs), Eltropy’s generative AI tools are bringing efficiency and personalization to community bank and credit unions’ engagement strategies, a journey that Magnifi shares.

“Our journey towards digital transformation led us to Eltropy’s AI chat solutions, and we’re starting to see remarkable results,” said Brad Shafton, Senior Vice President, IT and Digital, Magnifi Financial, a $2.2 billion credit union in central Minnesota. “What sets Eltropy apart is not just their technology but also their dedication to understanding the credit union industry and their commitment to community financial institutions like ours. They continue to evolve, and that’s why we consider them a long-term partner, including for AI.”

Eltropy is not only improving the member experience but is also expediting processes, such as helping with loans in Magnifi’s mortgage and lending department, making it a win-win for both the credit union itself and its members, said Shafton.

At the forefront of this transformation are Eltropy’s “Employee Assistants” that enable contact center agents, tellers, and other customer-facing personnel to instantly access vetted, verified knowledge and automate tasks like auto-generating emails and more, all in natural conversation.

Eltropy’s member-facing ChatGPT-style agents provide swift, accurate responses to typical member queries, improving service efficiency, reducing wait times, and alleviating the workload for credit union call center agents and other staff. This optimization allows credit unions like Magnifi to allocate more resources to more complex interactions. 

“As we embrace the era of generative AI, alongside the current economic challenges and persistent staff shortages, credit unions and community banks are actively looking for innovative ways to thrive,” said Eltropy Co-founder and CEO Ashish Garg. “Eltropy’s generative AI tools are empowering forward-thinking CFIs to achieve this by accelerating and enhancing employee knowledge training, improving the member experience and ultimately fueling growth.”

Eltropy’s commitment to advancing generative AI aligns with industry trends and the growing demand for personalized and efficient member interactions. These advancements are reshaping the credit union landscape and ensuring that credit unions remain competitive in a rapidly evolving financial sector.

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Marijus Plančiūnas, the CEO of Paysera LT, expressed enthusiasm about the strategic move, stating, “One of the key advantages offered by Paysera is instant SEPA transfers, particularly beneficial for Georgia, a non-SEPA member. This signifies a transformative shift for Georgians, enabling them to conduct European transactions swiftly and seamlessly. Furthermore, the expansion of Paysera creates new avenues for business development, fortifying the longstanding ties between Lithuania and Georgia.”

The physical expansion of the Paysera Group into various countries is facilitated by a collaborative joint activities model. This model was successfully implemented in Georgia, where local entrepreneurs, holding 100% of the bank’s shares, introduced the Paysera brand and technology. Dimitry Kumsishvily, a prominent businessman, serves as one the shareholders and director.

Dimitry Kumsishvily stated, “Paysera Bank Georgia obtained its license as the first digital bank in the Georgian market on November 17, 2023, and has promptly initiated services for both individuals and legal entities. Through our commitment to innovative business models and collaboration with the National Bank of Georgia, Paysera Bank has seamlessly integrated Georgian clients into the SEPA system, enabling Euro transactions with the same ease as transactions in Georgian Lari (GEL). This not only enhances financial accessibility but also aligns our country with the European family.”

In light of Georgia achieving candidate status for the European Union on December 14, Paysera Bank Georgia announced a special promotion for its clients. Over the next three months, Euro transfers to Europe will be offered completely free of charge, showcasing the company’s dedication to fostering financial inclusivity and reinforcing Georgia’s ties with the European Union.

In mid-December, the Central Bank of Georgia augmented the bank license held by Paysera Georgia, granting the institution the opportunity to provide loans in the future.

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FactSet Mercury is a breakthrough solution that optimizes the company research workflow for junior bankers, offering a single, trusted conversational interface to access key company information with supporting context and actionable next steps.

With FactSet Mercury, users can access FactSet’s comprehensive financial fundamentals and pricing data, along with extensive bank and branch regulatory data through an integrated suite of generative AI (GenAI) tools surfaced in a single chat interface. New features of the chatbot include Chart Creator, which empowers a user’s next best action by using natural language to create a pitch-ready chart.

“We are thrilled for clients to experience mile-wide discoverability on FactSet by simply asking for what they need,” said Kristy Karnovsky, Chief Product Officer at FactSet. “We are confident users will not only be able to work more efficiently, but also value the personalized, connected content and insights we will surface by leveraging our high-quality data and AI-powered solutions.”

The release of FactSet Mercury is part of FactSet Explorer, a product preview program developed under FactSet’s AI Blueprint. This program enables clients to gain early access to GenAI-powered beta products and contribute directly to their development. FactSet is currently working with a number of its premier banking clients, with plans to scale the Explorer program across FactSet’s Buy-Side and Wealth client segments.

“We are excited to introduce FactSet Mercury as a game-changing solution that will revolutionize the workflows of junior bankers. By providing a seamless conversational interface, we are streamlining the research process and empowering users with comprehensive data and actionable insights,” said Kendra Brown, Senior Director, Banking & Sell-Side Research at FactSet. “With FactSet Mercury, we are dedicated to enhancing productivity and delivering personalized, connected content to our valued clients.”

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Eltropy, a leading digital conversations platform for community financial institutions (CFIs), announced that Eltropy’s Digital Conversations Platform is now accessible through the Jack Henry digital banking platform.

Eltropy leveraged the Banno Digital Toolkit, the same set of APIs the Banno Digital Platform is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Eltropy to directly integrate into the digital banking platform providing a seamless banking experience.

This integration contributes to Jack Henry’s growing ecosystem of over 950 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their account holders.

Eltropy’s unified Digital Conversations Platform enables members and customers to communicate with their credit unions or banks through their preferred channels—be it text, chat, or video. Eltropy’s suite of conversational AI products automates more than 30 percent of front-line queries across these channels and delivers actionable insights from all digital interactions, making it the industry’s first AI and digital-first contact center solution specifically tailored for credit unions and community banks.

“Integrating into the Banno ecosystem reflects our commitment to improving member engagement for community banks and credit unions,” said Ashish Garg, Co-founder and CEO of Eltropy. “This allows members to choose how they want to communicate and give credit unions and community banks the tools they need to engage with an increasingly digital-first demographic. It’s a win-win for all—seamless member service, better customer satisfaction, and better productivity.”

“Embedding convenient Secure Chat right in online banking has been hugely popular with our members,” said Gary Jeter, CTO of TruStone Financial Credit Union, based in Minnesota. “We love seeing the spike in digital conversations that expands our service capabilities without adding call center costs and volume.”

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