Brazilian payments firm Conductor has hired banks for an initial public offering in the United States that could come as early as this year. Conductor, is a provider of technology for financial services. Its tools allow retailers, banks and financial startups to offer credit cards and payment wallets to their clients, for instance. Investment banking units of Goldman Sachs, JPMorgan, Bank of America and Credit Suisse will manage the offering. Should Conductor conclude a listing on a U.S. exchange, it will follow in the footsteps of two other Brazilian payments companies, StoneCo Ltd and PagSeguro Digital Ltd . The sources didn’t say which U.S. exchange Conductor was likely to pick for the listing, how much money it would seek to raise, or what valuation it hoped for. Conductor has 95 million users and processes $20 billion in payments transactions per year in Latin America
Algolia, an API Platform for Search & Dynamic Experiences, helps power developers’ search and content discovery capabilities with an API-first approach that can be applied to SaaS applications and e-commerce, as well as enterprise applications across industries. This new way of software development is an important innovation for businesses, as it helps developers more easily build digital experiences on top of Algolia’s APIs rather than implementing and maintaining a complex backend — allowing businesses to more quickly adapt to their customers’ evolving needs. Applications based on opaque SaaS solutions lack flexibility and old school monolithic platforms can be costly, time-intensive, and outdated. Algolia has expanded beyond search to become a multi-product company that empowers developers with its API platform to create composable applications that deliver rich, personalized, and dynamic digital experiences in real time to consumers and employees.
Goldman Sachs Asset Management’s Alternative Investments & Manager Selection (AIMS) co-investment business has selected Enfusion to provide investment management technology solutions and middle- and back-office managed services. Enfusion created a custom unified solution via API so that AIMS can import data across numerous instruments into the Enfusion platform from its proprietary EMS in real-time, providing a holistic view of a fund for portfolio managers and the risk team. Enfusion’s seam-free front to back-office platform and APIs allow the fund’s portfolio managers to manage orders across all asset classes. In addition to creating a centralised repository of trade data and activity, the cloud-based solution will track portfolio positions to ensure transparency across the fund and facilitate P&L and Risk monitoring and reporting at the fund and holding levels. To complement the integration of these solutions, Enfusion’s managed services team will manage reconciliation and trade capture, as well as investigate breaks and make necessary adjustments. Outsourcing these efforts will allow the AIMS team to focus more on core trading activity, streamlining the investment process.
NYMBUS, provider of banking technology solutions, announced a partnership with Plaid, a data network powering the digital financial ecosystem, to more instantly authenticate and fund customer bank accounts for financial institutions. With this integration, Nymbus bank and credit union clients can securely onboard new users in a matter of seconds, which translates to more active and engaged banking experiences.
Benefits of the Nymbus and Plaid integration for financial institution customers include:
Improve user identity verification and reduce fraud.
Instantly authenticate and link members’ bank accounts.
Streamline ACH transfers between any bank or credit union in the US.
Access and analyze comprehensive transaction data.
Validate real-time account balances to protect against overdraft and enable account pre-funding.
- BaaS API platform Treasury Prime has announced customizable card controls including the ability for fintechs and other customers to put themselves in the authorization loop for approving their users’ transactions in real time. These enhanced card controls will give customers the ability to customize balance, merchant, and velocity limits based on their business model and proprietary user data in order to enable both more and larger transactions while reducing declined transactions and fraud. Treasury Prime customers who want to launch quickly with a minimum of customization can build their card programs using Treasury Prime’s best practices and pre-built settings and then customize in the future as they collect user data.
- Customers who are ready to begin customizing controls can use simple API calls to configure their card controls program together in any way that makes sense for their business. Many fintechs have their own data sources that address their particular end-users; in these cases it may be valuable for the company to be directly in the authorization loop because the fintech’s own data may better inform whether a transaction should be approved or denied. Treasury Prime’s card controls also makes cross financial product card controls feasible. Unlike other BaaS providers who force companies into pre-defined and structured flows, the Treasury Prime platform was built to support complex business models and flows of funds.
Lloyds Commercial Banking is rolling out a new payment service which enables consumers to make payments on an organisation’s website directly from their bank account, without having to enter any payment details. The new service, dubbed PayFrom Bank, combines Mastercard’s Payment Gateway capabilities and its Open Banking Connect platform to deliver a merchant A2A payment page that covers around 95% of UK bank accounts with Open Banking APIs. Open Banking Merchant Payment Solution offers merchants and consumers an alternative to card based payments and even greater choice over how they checkout. Merchants can now provide their customers with a wider range of payment methods without needing to store payer account details. It also removes friction for consumers as all payer details are automatically populated, meaning there’s no risk of entering the wrong account details. Initial interest in PayFrom Bank is coming from charities for online donations and wallet funding use cases such as investment accounts. United Response, a charity that provides support to people with learning difficulties, autism, and mental health needs, is the first merchant to go live with the proposition.