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Wells Fargo and Setpoint join forces to create more streamlined access to capital
Setpoint, a leading financial services provider, is pleased to establish a banking relationship with Wells Fargo which enables the cloud-based software company to expand its payment disbursement capabilities. Setpoint will assume the crucial roles of Paying Agent and Calculation Agent for various clients, such as auto and real estate originators and lenders.
“We are pleased to continue to support Setpoint’s impressive momentum and their critical position within the technology and fintech ecosystems. Setpoint has a highly-scalable and proven fintech solution built around leading-edge technology, and robust data security and controls,” said Matt Servatius, Wells Fargo Technology Banking central market executive. “We applaud Setpoint for their innovation to streamline warehouse funding to help borrowers gain faster access to the capital they need.”
Setpoint’s tech-enabled service execution for asset-backed lending deals increases funding efficiency while reducing transaction risk. In its role as Third-Party Calculation Agent, Setpoint approves and certifies borrowing requests, monthly payments and/or investor reporting. In its role as Third-Party Paying Agent, Setpoint facilitates client payments via its technology platform by issuing payment instructions, as authorized by Setpoint’s clients, to banks where funds are held or are to be transferred. Setpoint does not take possession of, manage or control client funds.
“We have been incredibly impressed by the Wells Fargo team’s tech-forward vision and approach,” said Ben Rubenstein, Setpoint co-founder and president. “Accuracy, security, speed, and operational efficiency are shared principles, and we are excited to come together to use technology to save time and money for our shared clients.”
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Interactive Brokers Integrates AI into Client Portfolios – Informed by Agentic Technology, Controlled by the Client
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced agentic trading through direct integration with Claude, one of the world's leading AI platforms. Available through the AI platform’s certified connector marketplace, the integration lets clients manage their accounts and access more than 170 global markets.
Paysafe research: Crypto Payments to Transform US Online Sports-betting
83% of U.S. bettors are keen to use cryptocurrency to fund wagers with online sportsbooks, when permitted, according to research issued today by leading payments platform Paysafe (NYSE: PSFE). The company’s All the Ways Players Pay: Crypto Edition report also suggests that when a state permits crypto payments, sportsbooks supporting deposits by digital assets and even payouts will gain a competitive edge in player acquisition and retention.
BMLL Appoints Michael Chiappinelli as Chief Revenue Officer
BMLL, the leading independent provider of continually engineered, harmonised, historical Level 3, 2 and 1 data and analytics for Capital Markets, spanning global equities, ETFs, futures and US equity options, today announced the appointment of Michael Chiappinelli as Chief Revenue Officer. Based in the USA, he will lead the company’s international commercial strategy and revenue organisation, accelerating global market expansion and deepening institutional client engagement. Michael will report to Paul Humphrey, CEO of BMLL, and join its executive management team.
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Scaling Quality with Agentic Test Automation
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ThetaRay Gamifies Financial Defense at Money20/20 Europe with a Compliance Twist on “Where’s Waldo”
ThetaRay, a leader in AI infrastructure for financial crime compliance, today unveiled Spot The Money Mule at Money20/20 Europe. The high-speed online game is a compliance twist on "Where’s Waldo" for the AI age, designed to bridge the gap between complex banking infrastructure and the public’s role in stopping global crime.
Kraken Set to Launch First CFTC-Regulated Perpetual Futures for US Traders
Kraken, one of the world’s longest-standing, most liquid and secure cryptocurrency platforms, has set out plans to launch the first CFTC-regulated perpetual futures in the US in the next 30 days.