Tech news: Asset-Map announces new features

Financial planning solutions provider Asset-Map  announced two new features, as well as three soon-to-be available tools. Relationship Maps will empower advisors to create a customizable mind map of household members and entities to provide a client with a multigenerational family tree and lead discussions around family planning, trust and corporate entity structure, non-traditional family situations, and more. The Legal Instruments feature will allow advisors to incorporate wills, powers of attorney, guardianships, living wills, buy-sell agreements and other knowledge of legal documents into the tools available on the Asset-Map platform. Asset-Map also announced plans for the following tools, expected to be released in the near future: Side Bar In-meeting Planning will overlay a household's visual financial inventory (Asset-Map Report) with real-time Signals feedback on the preparedness to handle financial calamities, and Target-Maps goal-funding progress. Beneficiary Map shows a client's assets, insurance, liabilities and passive cash flows that can be critical to the insight of survivors and their advisors in the case of the demise of an interested household member. Finally, Practice Insights aggregates and analyzes the entirety of household data within a financial firm using Asset-Map, allowing for leadership to understand factors like average household income, retirement accounts and life coverage of a firm's client base, helping practice owners understand and find opportunities within their book of business.

Digital asset solutions provider TaxBit introduced a global reporting platform that encompasses both digital and traditional finance for managing complex tax reporting for digital products, specifically, high-volume, high-frequency and multi-asset transactions. With functionality that spans global tax regimes, the platform facilitates compliance with regulations—covering everything from U.S. information reporting to digital asset cost basis, DAC8/CARF, CESOP and DAC7 in the EU—without system overhauls. Among other things, the platform offers APIs that let developers integrate it with enterprise systems. Automation handles ingestion, calculation and reporting for complex multi-country, multi-asset transactions. A real-time dashboard offers self-service insights and analytics, allowing companies to monitor compliance status, identify risks and keep up with deadlines.  

Mastercard released its Biz360 platform for small businesses to streamline operations and integrate their existing digital tools in one place. Users can consolidate their existing operational tools, subscriptions and payment gateways into a single destination, in addition to automating administrative tasks. Small business owners can access a client portal to manage and cultivate customer relationships, boost loyalty through personalized email and marketing campaigns, enhance their digital presence with website creation capabilities, and access personalized business performance reports. Small business fintech platform Hello Alice will collaborate with Mastercard on the initial rollout of Mastercard Biz360 to select small businesses across their U.S. network. Mastercard is also collaborating with vcita, a technology platform designed for organizations that serve the small business market. Mastercard aims to broaden Biz360's reach across additional markets in 2025 and expand the platform's capabilities. Learn more information here.