Ordway, a monetisation platform for innovative business models, has secured $20 million in growth capital. The funding round was led by Harbert Growth Partners, with Western Alliance Bank's Innovation Banking Group participating through debt. The company plans to use the investment to double its research and development budget, focusing on advancing its artificial intelligence product roadmap. Ordway has doubled its recurring revenue over the past two years whilst remaining profitable. Recent AI-powered launches include MCP access for Claude, an advanced cash reconciliation feature, and a contract data abstraction tool. The company has also introduced Ordway Payments, an integrated platform designed to streamline payment processing and revenue reconciliation. The funding will support development of AI agents to automate time-consuming tasks such as updating financial records and creating AI-powered forecasting models for cash flow and revenue predictions.

Western Alliance launches WA VenueX for round-the-clock dollar settlement. Western Alliance Bank revealed on Friday that it has formally launched WA VenueX, an institutional platform offering real-time US dollar liquidity and support for digital asset activity within a regulated banking environment. The Phoenix-based commercial bank, which holds more than $90 billion in assets, said that its WA VenueX Network provides 24/7 dollar instant settlement for approved institutional digital asset businesses. Since an initial rollout earlier this year, the network has processed billions of dollars in transaction volume across stablecoin minting and redemption, institutional settlement and real-time liquidity rebalancing. The launch places Western Alliance among a small group of regulated US financial institutions offering always-on infrastructure for institutional digital asset markets. Further capabilities, including digital asset custody, financing, tokenisation and programmable financial services, are said to be in development and will be introduced in phases. "Western Alliance Bank is always looking for innovative ways to better serve our clients while advancing the S-curve funding growth strategy we outlined at our Investor Day in May," stated Dale Gibbons, vice chairman and chief banking officer, deposit initiatives and innovation. He added that the platform also supported the bank's deposit remixing efforts and a more diversified source of funding. David Fragale, senior managing director of the bank's digital assets group, said WA VenueX "brings together real-time USD settlement and a roadmap toward integrated digital asset capabilities within a single platform." The bank noted that it launched the platform with nearly five years of digital asset banking experience and about 150 institutional clients, including stablecoin issuers, exchanges and trading firms. The network is currently available to select clients, with integration supported via API.

Western Alliance Bank has launched WA VenueX, an institutional financial platform providing 24/7 US dollar liquidity for digital asset businesses. The bank, which has over $90 billion in assets, said the platform has already processed billions of dollars in transactions since its initial rollout earlier this year. WA VenueX Network enables real-time settlement for stablecoin minting and redemption, institutional digital asset settlement, and liquidity rebalancing. The platform currently serves select institutional clients, with Coinbase among the users. Western Alliance plans to expand the platform's capabilities to include digital asset custody, financing, tokenisation, and programmable financial services in coming months. The bank has approximately 150 institutional digital asset clients, including stablecoin issuers, exchanges, and trading firms.