Grasshopper Bank and startup-focused financial solutions fintech Capchase joined forces last week to offer startup funding options. 

Macroeconomic conditions have presented challenges for startups, Luther Liang, director of product at Grasshopper, told Bank Automation News, noting that with Capchase, the digital bank’s SaaS clients can access new funding options.  

“The product we’ve launched … is Accelerator Checking,” Liang said, describing it as a digital account for venture-backed startups that allows clients to access Capchase’s funding options.  

Capchase, which is integrated into Accelerator Checking, connects in real time to monitor banking, accounting and revenue data. Capchase uses the data to automatically decide the correct amount to fund a startup and, the time frame for doing so, Capchase Chief Executive Miguel Fernandez told BAN. “We’re always trying to make sure that we actually help the companies grow faster and more efficiently, as opposed to overloading them.”  

Wells Fargo looks to CoreLogic for risk management

Wells Fargo Home Lending selected property insights and innovative solutions provider CoreLogic to simplify mortgage operations at the bank.  

The $1.9 trillion bank is looking to CoreLogic’s Digital Tax Portal, which brings insights and workflows into the payment process, Jay Kingsley, president of mortgage solutions at CoreLogic, told BAN. “With full visibility for all of their loans, Wells Fargo is able to deliver a positive customer experience with a compliance and control framework that provides certainty, flexibility and savings.” 

CoreLogic automates and digitalizes property tax payments primarily using AI, Kingsley said. “For example, our Servicing and Payment Solutions group utilizes AI in its back-end operations to drive quality and efficiency in a compliant and responsible manner.”

AI isn’t being used in all areas, Kingsley said. “We will not use AI tools on non-public, personal information or in any way that might create bias or disadvantage a customer.” 

Kingsley did not specify which other institutions currently utilize CoreLogic.  

Alkami, Plaid team up on API access

Digital banking service provider Alkami Technologies and global data network Plaid teamed up this month to bring API access to Alkami financial institution clients.  

The move enables 200 Alkami FI clients access to Plaid’s Financial Data Exchange-aligned API, Aly Yarris, financial access partnerships at Plaid, told BAN. API access allows FIs to participate in secure data sharing with limited technical effort, according to an Alkami release. 

Alkami clients include WaFd Bank, First National Bank and Trustmark National Bank, according to its website. 

Today, consumers expect connectivity and, in partnering with tech providers, Plaid is working to prepare more FIs for open finance with secure APIs, Yarris said. 

Plaid continues to add partnerships to gain market share. The company has more than 6,500 institutions on the platform, Yarris said. “The goal is to make this as accessible as possible for all institutions in the U.S.”  

Visit Bank Automation News’ Transactions Database, which lists the technology selected or acquired by companies in the financial services industry, with a specific focus on technology that enhances automation.

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