Fintech Snapshots: Verification, Wealth Management & Virtualized ATMs

The latest roundup of announcements from financial technology suppliers included new tools/services for verification, artificial intelligence-powered wealth management, account recovery, a financial well-being portal, security awareness and virtualized ATM testing.

The Vancouver, British Columbia, Canada-based Trulioo, an identity verification provider, recently showcased its new capability EmbedID. EmbedID is a front-end tool that enables businesses to query Trulioo’s API, GlobalGateway, to instantly verify customers in multiple markets by embedding a snippet of code to their website, particularly during sign-up or registration. GlobalGateway’s design aims to reduce the time it takes to expand into new markets. Trulioo indicated that EmbedID too is quick and convenient by design.

The San Francisco, Calif.-based Salesforce, a CRM provider, announced Einstein Analytics for Financial Services, a customizable analytics solution that provides AI-augmented business intelligence for wealth advisors, retail bankers and managers. Saleforce said the financial services cloud delivers a customized CRM experience for financial institutions. Services include actionable insights powered by artificial intelligence, built-in industry dashboards, a customizable platform to analyze external data and built-in compliance with industry regulations.

The Palo Alto, Calif.-based Jumio, an AI-powered trusted identity-as-a-service provider, announced a new partnership with Nok Nok Labs, a supplier of next-generation authentication. According to the companies, with the new solution, organizations can bypass time-consuming custom integrations for a strong, secure and cost-effective account recovery solution that enables user account access on a new device, further enhancing consumer peace of mind.

The New York, N.Y.-based Atria Wealth Solutions, a multi-channel wealth management solution holding company, announced the launch of its client portal, Clear 1. Atria said Clear 1 provides clients with a transparent view of their financial well-being, delivering data and personalized content through one easily accessible location. The platform, built to anticipate client questions through sophisticated infographic charts and advanced filtering, features secure streams of data. The portal’s availability currently extends to all advisors at Atria subsidiaries CUSO Financial Services and Sorrento Pacific Financial, and, beginning in the second half of 2019, to Atria’s broker-dealer subsidiaries.

The Tampa Bay, Fla.-based KnowBe4, which provides security awareness training and a simulated phishing platform, announced the acquisition of CLTRe, a Norwegian company focused on helping organizations assess, build, maintain and measure a strong security posture. CLTRe created the CLTRe Toolkit and Security Culture Framework, which work in tandem to help organizations gather evidence about their current security culture and how it changes over time. KnowBe4 users will gain access to a research-driven measurement platform to show how their security culture program matures over time. CLTRe clients will be introduced to KnowBe4’s SAT and simulated phishing platform.

The Holly Springs, N.C.-based Paragon Application Systems, a provider of payment testing solutions to the financial services industry, announced several enhancements to Paragon VirtualATM, which provides automated, comprehensive testing that compares screen images, receipts and results between Windows 7 and Windows 10 in a virtualized ATM environment. Paragon introduced the following updates to its VirtualATM solution: The VM Setup Tool, which accelerates and automates the process of creating a virtual ATM; the detached ATM enhancement, which, according to Paragon, saves time and increases efficiency by reducing unproductive downtime spent waiting for a virtual ATM to reboot or restart; the VirtualATM host proxy, which enables easier switching between multiple host systems during testing; and the VirtualATM message importing tool, which supports more efficient, accurate creation of automated tests for ATM hosts.