E-commerce giant DoorDash has teamed up with fintech Fiserv for embedded finance services. 

“This solution enables DoorDash to offer its delivery contractors a full range of financial services,” Frank Bisignano, chief executive at Fiserv, said during the company’s Oct. 22 third quarter earnings call. “Within a single app, they can get instant access to wages and rewards, as well as deposit accounts, debit cards and more.”

The $1.8 billion Middleton, Wis.-based Starion Bank will the sponsor bank for the offering, the release stated. 

Fiserv is expanding its business partnerships with merchants including Walmart, Costco and Stop and Shop to diversify its client base and grow revenue, Bisignano said. 

SoFi expands partnership with Nova Credit

San Francisco-based digital bank SoFi is using data analytics company Nova Credit’s Cash Atlas solution for better underwriting. 

Cash Atlas looks beyond customers’ traditional credit scores for underwriting by evaluating their real credit worthiness, Misha Esipov, co-founder and CEO at Nova Credit, told BAN. 

The solution uses machine learning to enhance its ability to address “transaction categorization, optical character recognition in document processing and fraud detection for documents and users,” Esipov said.  

Cash Atlas includes real-time views of assets, income and expenses, giving $27 billion SoFi a more timely and accurate way to assess risk, and better reflecting how consumers manage their finances, beyond the delayed reporting from credit bureaus, Esipov said. 

Tillster, Stripe team up for global payments

Customer engagement and payments platform Tillster is joining forces with payments company Stripe to allow customers to make online and in-person payments at restaurants in 45 countries, according to an Oct. 22 release from Tillster. 

Tillster aims to provide customers with a unified payments and rewards collection experience through mobile apps, in-person and online, the release stated. 

California-based Porto’s Bakery, restaurant chain Freddy’s and Baskin-Robbins are some of Tillster’s customers, according to the company. 

Nutmeg State Financial Credit Union selects Alkami

Nutmeg State Financial Credit Union has selected Alkami to improve its digital banking. 

The Alkami Digital Banking platform will provide NSFCU’s members with a new online and mobile digital experience with features including instant loan payments and data and analytics for businesses, according to Alkami’s Oct. 16 release. 

Younger, tech-savvy members told the credit union that they wanted advanced digital banking experiences, Chief Experience Officer Greg Angelillo told BAN. “We anticipated future needs, particularly around security, where members may not always see or understand what’s required to protect their financial information as the digital landscape evolves.” 

The features will also help NSFCU improve customer experience and retain and grow deposits, Angelillo said. 

EQ Bank taps DataVisor for fraud prevention

EQ Bank selected AI-driven fraud solutions provider DataVisor on Oct. 16 to improve its real-time fraud detection. 

The Toronto-based digital challenger bank will use DataVisor’s machine learning and gen AI tools to detect fraudulent transactions, Kartik Kamat, vice president of payments and fraud mitigation at EQ Bank, told BAN. The platforms will be connected via APIs. 

DataVisor’s solution “provides both a custom-built, supervised machine learning model designed specifically for our business and advanced unsupervised machine learning for real-time detection of unknown attacks,” Kamat said. “Any flagged activity will generate alerts that seamlessly flow into our review process for further analysis.” 

The solution is live and EQ Bank plans to add more capabilities, Kamat said. 

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