What You Need to Know
- Yodlee says it has significantly grown its open banking activities globally.
- Hearsay released an AI-powered solution for compliance review of videos financial advisors post across social channels.
- Zephyr partnered with AppCrown to fully connect Salesforce Financial Services Cloud and other customer relationship management systems.
TD Ameritrade made updates to its thinkorswim trading platforms intended to enhance personalization and mobile experience, it said Thursday.
The upgrades come as the company prepares to close out a year in which it said mobile trading for the first time surpassed trading on desktop devices.
- thinkorswim Desktop has gained more than 20 new charting strategies, studies and drawing tools, in addition to a personalized news interface, news keyword search and social activity watchlist.
- thinkorswim Mobile has been made more customizable, with a new trader-driven account overview, redesigned core tools for easier onboarding, interactive in-app help, a new chat interface and support for the Apple M1 chip.
- thinkorswim Web now features a dedicated charts tab, eight new chart studies plus five new drawing tools, dozens of new prebuilt watchlists, contingent orders, order rules and trailing stops, transaction history, and a personalized education experience.
Shortly before closing on its $22 billion acquisition of TD Ameritrade in October 2020, Schwab announced plans to adopt thinkorswim and integrate its trading platforms, education and tools into its trader offerings for clients.
Envestnet | Yodlee Expands Open Banking Connections
Envestnet | Yodlee has significantly grown its open banking activities globally, it said Thursday.
What Your Peers Are Reading
Its global open banking account connections now number in the millions, and the platform has seen a more than 60% average monthly growth rate during the past six months, it noted.
The firm is actively partnering with financial institutions on data access agreements and with policymakers and regulators to expand usage of the global open banking ecosystem, which reached nearly 25 million global consumers in 2020, it said, citing Statista data.
The firm has signed more than 16 data access agreements, with institutions including Capital One, TD Bank and Wells Fargo Bank, “reaching millions of potential consumers” in North America alone, it said.
“As the future of open banking continues to evolve, Envestnet | Yodlee will continue to work with policy groups to drive regulation beyond just traditional banking data to include investment data,” it said. “Leveraging these systems towards broader consumer data security can ensure that all parts of the financial industry are held to a secure standard.”
Hearsay Launches AI Compliance Solution
Hearsay Systems released an artificial-intelligence powered solution for compliance review of videos financial advisors post across their social channels.
The new solution is “highly scalable” and enables users to publish video content faster by “leveraging AI to detect inappropriate material and an automated speech-to-text lexicon review to ensure that all videos are in full compliance with industry standards before they are posted,” the company said in a news release on Thursday.
Visual video content can be analyzed by applying a pre-trained machine learning model that Hearsay said is able to distinguish between content categories, such as nudity, violence, visually disturbing content and rude gestures.
Hearsay also unveiled a new feature it said adds compliance support for direct messages sent via Instagram.
The enhancements make it easier and more efficient for advisors to use digital channels to connect with clients and prospective clients, according to the company.
Despite limitations on video compliance to date, 53% of Hearsay’s global customers across all lines of business published more than 360,000 videos on the platform so far this year, it said.