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Date – 14-Aug-2024 Capitalize’s Rollover Volume Has Increased Over 6x in the Past 18 Months, Now Handling Several Billion Dollars in Retirement Account Transfers Annually Capitalize Secures $19 Million in Series B Funding to Enhance Digital Retirement Account Transfers Capitalize, the pioneering platform that digitizes the process of locating and transferring retirement assets, has successfully closed a $19 million Series B funding round led by RRE Ventures. This round also saw contributions from existing investors Canapi Ventures and Bling Capital, as well as new investor Industry Ventures. Since its launch in 2020, Capitalize has rapidly scaled its platform, now processing several billion dollars in annual rollover transactions. The company’s platform and revenue have surged approximately sixfold in the past 18 months. A key factor behind this growth has been Capitalize’s Enterprise business, which integrates its rollover technology directly into the onboarding and funding processes of major financial institutions. This integration helps customers seamlessly transfer legacy retirement accounts, such as 401(k)s, to new accounts of their choice. Capitalize has recently enhanced its offering with the launch of the Embedded Rollover API, enabling partners to integrate rollover capabilities natively into their systems. “We’re excited to partner with RRE Ventures in this funding round, given their deep expertise and commitment to fintech innovation,” said Gaurav Sharma, co-founder and CEO of Capitalize. “Our goal is to modernize the outdated rollover process, enabling Americans to efficiently manage their retirement assets and allowing our partners to better serve their users.” Every year, millions of Americans change jobs and either leave their 401(k) accounts behind or cash them out prematurely. Traditionally, the rollover process has been cumbersome, involving multiple institutions, extensive paperwork, and physical checks. This complexity has led to over $1.65 trillion in forgotten 401(k) assets. Capitalize’s digital solution simplifies this process, addressing both individual and institutional needs by streamlining the $1 trillion in annual 401(k) rollovers. Raju Rishi, General Partner at RRE Ventures, commented, “We’re proud to support Capitalize’s mission to revolutionize retirement account transfers. We’ve been impressed by their strategic approach and are excited to see the continued impact of their innovative solutions.” The new funding will be used to advance technology development, expand features, and enhance service capabilities for both partners and consumers. It will also support growth in new and existing Enterprise partnerships, and extend services to financial advisors and recordkeepers.

Date – 14-Aug-2024 The new product integration enhances digital banking user experience and boosts security. Alkami Technology, Inc., a leading provider of cloud-based digital banking solutions in the U.S., has announced the integration of credential stuffing protection into its digital banking platform. This new feature enhances security by implementing a challenge-response authentication process that operates invisibly in the background. It detects human behavior without requiring visual puzzles or additional steps from users, ensuring a seamless experience for legitimate account holders. Grace Pace, Senior Vice President of Digital Bank at Quontic Bank, noted, “This upgrade has added a crucial layer of security for our account holders. The improved login experience reduces the risk of fraud and enhances customer confidence, all while avoiding additional complexity. Alkami has been instrumental in helping us tackle security and compliance challenges, and we trust their innovative solutions to keep our account holders safe from emerging threats.” This integration is part of Alkami’s comprehensive approach to fraud detection and prevention in online banking. With the rise in credential stuffing and other security threats, financial institutions must adopt robust, organization-wide strategies to combat fraud. Partnering with a forward-thinking digital banking provider is essential for addressing both current and future security challenges. Brad Cranford, Director of Product Management at Alkami, commented, “As security threats evolve, so does our platform. We’re proud to include credential stuffing protection as a standard feature, aiming to help our customers enhance security while delivering exceptional user experiences.” The new feature complies with Web Content Accessibility Guidelines (WCAG) 2.1 Level AA, ensuring that the platform remains accessible and user-friendly for all individuals, including those with disabilities. James Hilton, Vice President of Product Management at Mountain America Credit Union (MACU), shared, “Since implementing these features, we’ve seen a significant reduction in credential stuffing attacks and a notable improvement in our platform’s security. Most logins are automatically validated, requiring no extra action from our members, and those that need further validation can be confirmed with just one simple step.”

Date – 14-Aug-2024 Ascend Introduces AI-Driven Automated Invoicing to Streamline Billing Ascend, the leading financial operations automation platform for insurance, has announced the launch of its Automated Invoicing (AI) feature. This new tool is designed to simplify and enhance the invoicing process for insurance agents. With this feature, Ascend users can now upload any quote document into the platform and utilize AI to automatically extract and process key data—such as carrier details, premium amounts, coverage types, and commission rates—into digital invoices and payment links with just one click. The Automated Invoicing feature aims to dramatically reduce the time and effort required for billing and payment tasks, while also minimizing human errors. This innovation makes it easier to convert documents like binders into personalized invoices, without relying solely on integrations with management systems to transfer data into Ascend. “Ascend’s Automated Invoicing represents a significant advancement in applying AI to streamline administrative work, allowing insurance businesses to save valuable time,” said Carl Niedbala, National Managing Director – Digital Product Strategy & Innovation at The Baldwin Group. “This frees up insurance professionals to focus on crucial aspects like risk management, client relationships, and addressing complex insurance needs.” Andrew Wynn, co-founder and CEO of Ascend, added, “Our partners requested a more straightforward way to create invoices, and we’ve delivered with this AI-powered solution. By enabling AI to read, categorize, and populate data from various quote documents, Ascend has made invoice creation as simple as uploading a document. This aligns with our commitment to reducing the burden of manual billing and accounting tasks.” Key Features and Benefits: “Automated Invoicing not only expedites the invoicing process but also ensures accuracy in the amounts collected from clients by aligning invoices with carrier quotes, reducing human error, and enhancing customer experience,” said Bradley Flowers, founder of Portal Insurance.

Date – 14-Aug-2024 Paddle has launched the third iteration of its AI Launchpad program, offering 75 promising AI founders the opportunity to accelerate their growth. Successful applicants will benefit from expert advice, join an exclusive community of AI founders, participate in masterclasses led by industry leaders, and compete for a $20,000 prize along with credits from partners such as Google Cloud. Applications are open from Wednesday, August 14th, through Sunday, September 22nd. Paddle, a leading payments infrastructure provider, has opened applications for its third AI Launchpad, designed to support 75 ambitious AI founders in building, launching, and scaling their AI-driven business ideas over a 6-week program. The AI startup landscape is booming, with generative AI ventures globally raising over $25 billion in 2023, a figure expected to reach around $45 billion this year. However, while developing an AI product is a significant step, founders also need strong commercial and operational skills to build sustainable, scalable businesses. Empowering AI Innovators Paddle’s AI Launchpad aims to empower AI innovators by providing crucial support to help them excel in their market niches. The program is tailored for AI-focused businesses with products based on natural language processing, machine learning, or other AI technologies. Applicants should have a minimal viable product ready and demonstrate market traction and growth potential. Program Highlights Christian Owens, Founder and Executive Chairman of Paddle, stated, “The AI Launchpad has evolved beyond its initial goal of supporting new software founders in a rapidly advancing field. The vibrant community and collaborative spirit from our previous programs have driven real progress. We’re thrilled to launch this new iteration, which promises to be the best yet.” Success Stories Since its inception in 2023, over 175 founder teams have participated in the AI Launchpad. Notable winners include Virtual Staging AI, which helps real estate professionals sell properties faster using AI, and Vanna AI, which aids businesses in generating accurate SQL queries. Previous participants have achieved significant milestones: Zain Hoda, Founder and CEO of Vanna AI, remarked, “The Paddle AI Launchpad was crucial in refining our growth strategy. The masterclasses provided key insights into pricing, marketing, and value metrics, while the community offered invaluable feedback on pitch decks and marketing strategies. This comprehensive support was instrumental in shaping our business model and go-to-market approach.” Applications for the AI Launchpad are open from August 14th to September 22nd, 2024, with the program set to begin in October.

Date – 14-Aug-2024 Saga Unveils Liquidity Integration Layer to Address Fragmentation and Enhance Scaling Saga, the pioneering Layer 1 blockchain protocol designed to deploy Layer 1s, has announced the launch of its Liquidity Integration Layer (LIL). This new layer aims to tackle liquidity fragmentation by providing seamless, instant access to liquidity across Saga’s ecosystem, including gaming, DeFi, entertainment, and beyond, as well as between Saga and other protocols. The LIL integrates node infrastructure with liquidity management into a unified solution, setting Saga apart from traditional approaches. By combining block production and liquidity needs within a single stack, Saga ensures that its chainlets are automatically equipped with permissionless bridging. This enables them to serve as a central liquidity hub, offering immediate access to tokens, services, and applications across various chainlets and interconnected ecosystems. This comprehensive design simplifies usability and enhances scalability for developers across the blockchain space. “Existing solutions like chain abstraction and aggregators often fall short by requiring complex manual setups, resulting in suboptimal experiences for both developers and users,” said Jin Kwon, Co-founder of Saga. “Saga’s LIL addresses these challenges by offering a streamlined, efficient tool that achieves both true composability and scalability.” Key Features of the Liquidity Integration Layer (LIL): With Saga’s extensive ecosystem, which includes 380 projects and three flagship games launching this summer, the LIL is set to facilitate immediate asset flow from day one.

Date – 14-Aug-2024 GTN, a global fintech innovator transforming investing and trading, is excited to announce the appointment of Ahmad Abouardini as Middle East Relationship Manager. With over eight years of experience at Saxo Bank, where he managed strategic relationships and platform sales in the Middle East, Ahmad brings extensive expertise in trading platforms, investment banking, and asset management. Prior to joining GTN, Ahmad held senior roles at Nykredit and Aiia (a Mastercard company), where he was responsible for strategic relationships and spearheaded sales and business development efforts. At Saxo Bank, Ahmad was key in driving growth and expanding the bank’s presence in the region, focusing on forex, CFDs, and various asset classes. His deep market knowledge and regional expertise have been central to his career achievements. “We are thrilled to welcome Ahmad to our team,” said Damian Bunce, CEO of GTN Middle East. “His deep understanding of the Middle East market and extensive experience will be invaluable in strengthening our presence and building strong client relationships in the region.” Ahmad commented, “I am excited to join GTN and contribute to our mission of delivering innovative solutions to financial services companies in the Middle East and beyond. I look forward to enhancing our leadership position and empowering brokers, banks, asset managers, and fintechs with advanced investment and trading options, making global markets more accessible.” Ahmad’s appointment underscores GTN’s dedication to providing exceptional value and service to its clients in the Middle East, aligning with the company’s ongoing commitment to excellence.

Date – 14-Aug-2024 Experian Acquires Behavioral Analytics Leader NeuroID Experian, the global data and technology company, today announced the acquisition of NeuroID, a pioneer in behavioral analytics. This acquisition enhances Experian’s fraud risk management capabilities by integrating NeuroID’s advanced behavioral analytics into its fraud detection suite. NeuroID’s solutions provide valuable insights into digital behavioral signals, analyzing user interactions throughout the customer lifecycle, including account openings, logins, and transactions. These insights will now be accessible through CrossCore® on the Experian Ascend Technology Platform™, enhancing Experian’s ability to detect and prevent fraud. NeuroID’s technology offers a new dimension of fraud detection by monitoring real-time digital behavior, such as how users navigate forms and input information. This acquisition addresses the growing threat of AI-driven fraud, which is prompting industries like financial services, healthcare, and e-commerce to adopt advanced fraud-detection technologies. The integration of NeuroID’s behavioral analytics into Experian’s offerings aims to mitigate various types of fraud, including identity theft, account takeover, and sophisticated bot attacks, while ensuring a seamless user experience. “Our acquisition of NeuroID underscores our dedication to equipping clients with cutting-edge data, analytics, and insights to combat fraud effectively,” said Robert Boxberger, President of Experian’s North American Identity & Fraud business. “In a rapidly evolving digital landscape, behavioral analytics are crucial for innovating and staying ahead in the fight against fraud.” Jack Alton, CEO of NeuroID, added, “In this new era of AI-driven fraud, companies need to rapidly innovate their fraud prevention strategies. NeuroID’s technology provides a proactive defense mechanism against sophisticated fraud rings and bot attacks. We are excited to join forces with Experian to offer solutions that ensure more secure and frictionless user experiences.”

Date – 14-Aug-2024 Layerup has launched an AI-driven platform designed to streamline legal and regulatory compliance for enterprises, boosting efficiency and minimizing compliance risks. Layerup, a leader in AI-driven solutions, has launched its groundbreaking all-in-one legal and regulatory compliance platform tailored for enterprises. This cutting-edge platform leverages artificial intelligence to streamline and enhance legal operations, including contract reviews directly within MS Word, and aids businesses in navigating complex regulatory changes. Layerup’s platform marks a significant advancement in legal and compliance AI, offering enterprises an integrated solution that simplifies compliance management while mitigating risks associated with regulatory non-compliance. As organizations face increasingly stringent regulations, Layerup’s platform becomes an essential tool for ensuring that legal and compliance teams operate seamlessly. The platform merges sophisticated AI capabilities with intuitive features, making it accessible to legal teams of all sizes. By automating routine tasks, Layerup enables legal professionals to concentrate on higher-value activities, boosting overall productivity and ensuring adherence to current regulations. Key features of the Layerup platform include an AI-powered MS Word extension for efficient contract reviews, an enterprise-grade application for document analysis, real-time regulatory updates, automated compliance checks, and customizable reporting tools. Together, these features provide enterprises with a comprehensive view of their legal status, facilitating informed decision-making and risk mitigation. “Our aim is to empower enterprises to leverage AI to augment their legal teams, enabling smaller teams to achieve more,” said the CEO of Layerup. “Our AI-driven platform eliminates bottlenecks and accelerates processes, giving users a competitive edge and enhancing overall operational efficiency.” The platform integrates smoothly with existing enterprise systems, ensuring minimal disruption and a seamless transition. By harnessing AI for legal and regulatory compliance, Layerup not only simplifies the process but also helps organizations save time and resources, supporting their long-term success. As regulatory complexities continue to evolve, Layerup stands at the forefront of providing enterprises with the tools needed to navigate these challenges with confidence. The platform is now available to enterprises seeking to enhance their legal and regulatory compliance capabilities.

Date – 14-Aug-2024 New Multichain Minting Capabilities Boost Flexibility and Accessibility for NFT Creators and Collectors Colle AI, a pioneer in AI-driven NFT technology, is excited to unveil the expansion of its NFT ecosystem with the addition of multichain minting support. This major enhancement enables artists and collectors to mint NFTs across various blockchain networks, such as Ethereum, BNB Chain, and Solana, offering increased flexibility and accessibility in the digital art market. The introduction of multichain support significantly boosts the platform’s capabilities, enabling users to select the blockchain that best meets their needs. This enhancement is in line with Colle AI’s mission to democratize access to digital art, providing artists and collectors with a seamless, efficient, and flexible experience. This update expands creative possibilities and reinforces Colle AI’s leadership in the dynamic NFT landscape. By incorporating multiple blockchains, Colle AI ensures its community has the advanced tools and resources required to excel in the digital art market.

Date – 13-Aug-2024 Mbanq introduces AI-powered credit evaluation for financial platforms, streamlining and improving the accuracy of credit decisions when lending to small and medium-sized enterprises (SMEs). Mbanq Partners with SMEApprove to Revolutionize SME Credit Decisioning with AI-Powered Solutions Global banking technology and Banking-as-a-Service (BaaS) provider Mbanq has announced a strategic partnership with SMEApprove, a leader in Credit Decisioning-as-a-Service (CDaaS) for the small and medium-sized enterprise (SME) sector. This collaboration aims to enhance the accuracy, speed, and efficiency of credit evaluations for SMEs on Mbanq’s client platforms by integrating advanced artificial intelligence (AI) technologies. Lars Rottweiler, CTO of Mbanq, stated, “The integration of SMEApprove’s AI-driven credit decisioning platform into Mbanq’s offerings will significantly improve our clients’ ability to make precise and timely credit decisions for small and medium-sized businesses.” Bryan Carroll, Chairman of SMEApprove, added, “By embedding our cutting-edge credit decisioning technology into Mbanq’s platform, we are empowering lenders to streamline their operations and offer faster, more reliable credit decisions for SMEs. This not only benefits lenders by optimizing their processes but also provides SMEs with quicker access to the capital they need to fuel their growth.” SMEApprove’s AI and machine learning technology enhance the accuracy of credit assessments, reducing the risk of defaults and accelerating the loan application process. The platform integrates seamlessly with existing credit decisioning systems and leverages a comprehensive library of credit-risk predictors and preconfigured features, enabling lenders to significantly refine their underwriting algorithms. A key advantage of SMEApprove’s platform is its high level of explainability, a feature that ensures compliance teams can understand, monitor, and trust automated decisions, thus mitigating concerns over regulatory compliance and potential biases in lending practices. The platform also utilizes a diverse range of data sources, allowing lenders to quickly and accurately assess risk, thereby making more informed decisions. This capability extends credit access to a broader range of SMEs, expanding market opportunities for lenders. Mbanq, renowned for its robust compliance capabilities, offers a comprehensive suite of services including dispute resolution, regulatory adherence, and compliance support. These services, combined with cutting-edge digital banking technology, empower banks, fintechs, and companies to launch and operate modern financial services with ease, efficiency, and speed. SMEApprove is committed to making credit more accessible and transparent for SMEs. With a track record of facilitating nearly €70 million in SME loans and supporting over 5,000 jobs, SMEApprove is a trusted partner for businesses seeking to expand their reach and impact. For more information, visit www.mbanq.com.