Transactions: Envestnet acquires business intelligence firm Truelytics

Wealth management giant Envestnet has acquired business intelligence provider Truelytics , the company announced today. Truelytics offers a software as a service (SaaS) digital platform based on performance data and proprietary banking and investment formulas. The company maintains partnerships with companies including the $615 billion financial services firm TIAA , Fidelity Investments , Lincoln Investment and Cetera Financial Group. [caption id="attachment_222127" align="alignright" width="300"] Photo by CanStock[/caption] Envestnet is currently holding its 2022 Advisor Summit, where it will add color to several of its first quarter technology developments. While financial details of the deal were not disclosed, a release said that the acquisition is “not expected” to impact Envestnet’s financial status. $1B Martha’s Vineyard Bank taps Apiture Edgartown, Mass.-based Martha’s Vineyard Bank will use digital banking provider Apiture to underpin its digital banking services, the bank announced last week. Apiture gives the $1 billion community bank access to the digital banking solution’s consumer and commercial banking product, as well as digital account opening and API-based integrations with more than 200 fintechs and 40 cores. This will allow the bank to provide end-to-end digital services for its client community while competing against larger institutions, James M. Anthony, bank chief executive, said in a release. “Apiture's technology will give us the flexibility and scalability we need to create solutions best suited to our local customers while providing features and functionality on par with much larger institutions,” Anthony said. South African digital bank taps nCino for business loan management Cloud banking and automation provider nCino will be the commercial loan solution of choice for South African retail bank Capitec Bank , the companies announced Wednesday. NCino will help the retail bank automate lending processes in its business banking vertical, Thomas Byrne, nCino head of product, EMEA, said in a release. “We’re looking forward to providing Capitec with a scalable platform that enables the bank to improve client and employee experiences by streamlining, digitizing and automating complex processes for a faster, more efficient and transparent experience for business owners,” Byrne said. Capitec is the second-largest retail bank in South Africa based on number of customers, and currently serves more than 70,000 commercial business clients, Karl Kumbier, executive of Capitec business, said in a release. The move is part of a larger effort by nCino to expand its operations geographically, with the company also establishing new operations in France and Spain in March. $13B VP Bank selects Ripjar for client risk decisioning The Lichtenstein-based VP Bank will use cybersecurity firm Ripjar’s Labyrinth Screening Platform for client risk assessment, the bank announced Tuesday. London-based Ripjar uses structured and unstructured data and “private” cloud capabilities to identify customers of risk, including fraudsters, money launderers and terrorists. Its Labyrinth platform automates watchlist screening and recognizes a range of languages and alphabets, according to the company. Ripjar answers a critical need for the $13 billion bank as regulators worldwide step up banking cybersecurity standards, Markus Reinacher, head of group compliance and operational risk at VP Bank, said in a release. “As regulators across the globe, and also in the European Union and associated bodies, strengthen and develop anti-money laundering legislation, it’s of critical importance that we remain ahead of the curve,” Reinacher said. “A core component of this is having the technologies in place to run advanced media screening.” Help shape our agenda for the Bank Automation Summit by applying to join the speaker roster here . Potential speakers will be contacted and confirmed directly by the editorial team, and only qualified submissions will receive a response. Learn more about Bank Automation Summit Fall 2022 .

Transactions: Envestnet acquires business intelligence firm Truelytics

Solutions from Apiture, Ripjar, nCino gain global traction

Leveraging codeless architecture to improve successful merger integration

Fintech Current integrates platform of 4M members with Plaid

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Transactions: Envestnet acquires business intelligence firm Truelytics

Solutions from Apiture, Ripjar, nCino gain global traction

Leveraging codeless architecture to improve successful merger integration

Fintech Current integrates platform of 4M members with Plaid

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