Transactions: Wells Fargo taps Q2 for real-time insights

Wells Fargo is tapping digital banking service provider Q2 to improve its customer relationship services team, according to Q2’s Feb. 6 release. [caption id="attachment_57378001" align="alignright" width="300"] (Courtesy/Bloomberg)[/caption] Q2 will provide Wells Fargo’s commercial banking customer relationship teams with data-driven intelligence, real-time insights and coaching via its virtual insights analyst, Andi, to provide personalized assistance to commercial clients, Jason Carr , principal digital strategist at Q2, told Bank Automation News . “As client relationships grow, the enhanced collaboration and insights that Q2 delivers will help the bank align with client needs and expectations, ensuring customer relationships continue to thrive,” Carr said. Q2 is seeing high interest for its solutions, Carr said. Adding data-driven tools can help gain new customers and build stronger relationships with existing customers. Some of Q2’s customers are Texas Security Bank , Simplicity Credit Union and SeaCoast Bank , according to the company. Vantage Bank selects Finzly for ISO 20022 migration Vantage Bank has selected payments and digital banking service provider Finzly to migrate to the ISO 20022 payment messaging system. The Federal Reserve has set a March 10 deadline for financial institutions to migrate all payments to the ISO 20022 messaging pattern to reduce fraud and provide conformity in payment messaging data, Booshan Rengachari , chief executive at Finzly, told BAN . The $3.7 billion bank will use Finzly’s Payments Galaxy solution, an intelligent payment router that can connect Vantage Bank to multiple payment networks, including FedNow and The Clearing House ’s Real Time Payments platform, Rengachari said. Vantage Bank has used Finzly’s digital banking tools for nearly seven years, so adding the payment services should be fairly simple, he said. All of its services are provided via cloud from vendors including Microsoft Azure and Amazon Web Services . Merchant's Pact picks Q2’s digital banking platform Q2 this month was also tapped by Louisville, Ky.-based fintech Merchant’s Pact . Merchant’s Pact, which specializes in providing payment solutions for FIs, is using Q2’s digital banking platform to expand payment services. Merchant's Pact clients can now offer card acceptance onboarding and engagement experience through Q2's platform, according to a Feb. 4 Merchant’s release. Integration began in early 2024 and the capabilities became available to FIs using the Q2 Marketplace in November, a Q2 spokesperson told BAN . The marketplace allows FIs to offer selected fintech solutions directly to account holders, the spokesperson said. “These solutions are accessible in an app store-like environment within the digital banking platform, providing a streamlined way for account holders to browse, purchase and utilize innovative financial tools,” the spokesperson said. FIs that work with Merchant’s Pact include: $18.3 billion First Merchants Bank ; $622.5 million First Federal Savings Bank ; and $263.4 million Craft Bank . FIS partners with Affirm for BNPL Core provider FIS will integrate Affirm 's buy now, pay later service into FIS' digital and mobile banking platforms for FIS bank clients to provide through their debit card programs, FIS announced on Feb. 11. BNPL is still gaining traction as consumers look for flexible payment and credit options, Annie DeStefano , vice president of strategic partnerships at FIS, told BAN . [caption id="attachment_57378527" align="alignright" width="300"] (Courtesy/Canva)[/caption] “We also know that regulatory agencies are keeping an eye on the difficulty for customers to manage several financial relationships," DeStefano said. “This partnership solves the consumer challenge by simplifying their personal finances by bringing Affirm BNPL installment loans into their banking relationship.” FIS plans to bring the service to market as quickly as possible, DeStefano said. FIS is in talks with several bank clients that plan to integrate the service, she said, without disclosing banks. However, the company in its Feb. 11 earnings call said $952.8 billion bank NatWest is planning to integrate several new FIS products for payments and lending. Mastercard, Payrails team on payments Payment card services provider Mastercard is collaborating with payment technology company Payrails to develop next-gen payment capabilities for large enterprises, Mastercard announced on Feb. 4. Mastercard and Payrails will offer digital payment tools and localized checking options. The partnership, which combines Mastercard’s digital payment capabilities with Payrails’ modular payment operating system, will initially target Europe, the Middle East and Africa before expanding globally, according to the release. Azura CU modernizes tech with Jack Henry Topeka, Kan.-based Azura Credit Union selected core provider Jack Henry ’s Symitar open technology platform to modernize its banking systems, according to a Feb. 6 release from Jack Henry. Azura is updating with Jack Henry’s open API-based platform, which is continuously kept up to day, to better serve local communities, Greg Winkler , CEO at the $825 million credit union, said in a Feb. 6 statement. By integrating Symitar, Azura will also be able to implement other new AI and data strategies, according to the release. Jack Henry acquired in-house data processing platform Symitar in 2020. As of December 2024, more than 700 credit unions were using the platform, according to Jack Henry. Other credit unions that work with Jack Henry include: $5 billion American Heritage Credit Union ; $4 billion Keesler Federal Credit Union ; and $2 billion L&N Federal Credit Union . Kort Payments acquires part of Paysafe business Canadian omnichannel payments provider Kort Payments is acquiring the marketing payment process business of payments platform Paysafe Direct , Kort Payments announced Feb. 11. The value of the acquisition was not disclosed, but a Kort Payments spokesperson told BAN that it will comprise of annual earnout payments over the next five years. The transaction is expected to close by the end of this month, the spokesperson said. The acquisition is not the first time Kort Payments and Paysafe Direct have crossed paths, the spokesperson said. Kort in 2024 rebranded from Merrco Payments and established a new leadership team led by Paysafe Direct founders, the spokesperson said. The deal supports Kort Payments’ expansion goals and moves toward more digital solutions, the spokesperson said. Kort will inherit reseller and merchant contracts, and dedicated technology and employees related to that business sector, bringing its headcount to approximately 100, according to the spokesperson. Kort’s employee headcount is listed as 11-50 on its LinkedIn site. The spokesperson said Kort’s 2025 technology goals include: Consolidating its gateway offering and overall platform strategy; Integrating a suite of global payment options to facilitate cross-border payments; and Implementing AI and machine learning to analyze transaction data for risk management and compliance. Visit Bank Automation News’ Transactions Dashboard, which lists the technology selected or acquired by companies in the financial services industry, with a focus on technology that enhances automation. Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here .

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Transactions: Wells Fargo taps Q2 for real-time insights

Vantage Bank, Mastercard, Affirm, Azura CU among dealmakers

Ex-FDIC official McKernan nominated as new CFPB director

The Transformative Power of Automation: Lessons from the Frontlines of Innovation

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