Cross River Bank announced Wednesday that it will use blockchain data company Chainalysis for cryptocurrency compliance.

The $5 billion bank will integrate Chainalysis’ real-time transaction compliance platform, investigations technology and risk management software into its existing crypto build. The move will help Cross River expand its crypto offerings, which currently include banking and payments, non-fungible token (NFT) and crypto wallet services. Chainalysis’ focus on compliance was central to Cross River’s choice, Luca Cosentino, head of digital assets at Cross River, said in a release.

“Crypto is going to be part of our daily lives, and it’s our responsibility to help the world of financial services stay current with the new technologies,” Cosentino said. “Our partnership with Chainalysis demonstrates our commitment to innovation while prioritizing compliance and maintaining consumer trust.”

Rakuten Europe, Banco de la Nacion del Peru adopts Temenos for cloud banking

Rakuten Europe Bank announced Tuesday that it will adopt core provider Temenos for its cloud banking.

Rakuten Europe Bank, the financial services arm of global e-commerce company Rakuten, chose Temenos to support business expansion and development of new products, along with facilitating transactions on the Rakuten Pay platform. The bank will also use Temenos to analyze and process banking activity data.

Globally, Banco de la Nacion del Peru announced last week that it also will be using Temenos’ cloud banking solution. In the first phase of that implementation, Temenos supported the opening of two million digital accounts.

First National Bank of North Arkansas deploys Teslar Software for lending automation

$280 million First National Bank of North Arkansas, based in Berryville, Ark., will deploy Teslar Software to automate lending processes for its commercial customers, the bank announced Wednesday.

Teslar Software automates loan origination, document workflows, and portfolio and risk management. Its technology will allow bank customers to submit documents through digital portals, thus reducing employee workloads through automation. The seamless approach is important as the bank digitizes its processes, Jack Hudgens, First National’s vice president, said in a release.

“Teslar digitizes commercial lending, providing a simpler, more seamless experience for our customers as well as employees,” Hudgens said.

MX joins with Fiserv for open banking

Data fintech MX has joined with Fiserv’s AllData Connect to tokenize and secure financial data for financial institutions. The fintechs will be joining together to increase secure access to consumer financial data and facilitate an open finance environment, Justin Jackson, head of product for digital payments at Fiserv, said Monday in a release.

“Consumers are increasingly using third-party apps to manage their finances, improve their financial literacy, receive access to deals and insights, and more,” Jackson said. “Direct connections that enable access to tokenized consumer data eliminate the need for consumers to share usernames and passwords with third parties and create a more secure way for them to manage their daily financial lives.”

BancoEstado of Chile uses Entrust cloud services

BancoEstado, one of Chile’s largest banks with 14 million customers, will be using Entrust for cloud-based authentication and card issuance.

The Santiago, Chile-based bank wanted to move banking operations to the cloud. “With such a large and growing operation, BancoEstado had a vision to move its operations to the cloud to achieve more scalability, security and simplicity,” Tony Ball, general manager at Entrust, said in a release. “We helped them deploy the first cards within 45 days of our initial conversation.”