Finovate Alumni News

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to UK high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Useful UI: The Dashboard Metaphor


Every now and then a useful term comes into widespread use and it can be hard to decide whether it’s a fad (eg. home banking) or something that will be around for decades (e.g., ATM). Dashboard is one that we are seeing more and more of. While it’s too soon to say if it will still be used next decade, let alone in 50 years, it’s a good word and widely used in consumer and business services today (see definition below).

Redfin’s homeowner dashboard

Redfin, for example, sends new homeowners an email suggesting they log in to the Owner’s Dashboard of their new property. Redfin must be matching homebuying records to its user database to make the connections. It’s nice touch. Who wouldn’t want to sit in the virtual driver’s seat of their most important asset and get a look around. And with home prices appreciating in most parts of the country, it’s a mighty fine view. In the example, the home value is up almost 15% since February.

Banks should consider using similar language for their advanced digital banking services. Instead of calling it some fancy name that leaves consumers confused, use Dashboard, which is easy to remember, and has all the right connotations. One major bank already doing so is BB&T (see below), with its unique customizable mobile and desktop service, U. Another is Ohio-based First Financial Bank as well as $88 million Gateway Community Bank (screenshot below).


BB&T's U digital banking is centered around a "Dashboard"
BB&T’s U digital banking is centered around a “Dashboard”










Bottom line: The name of a digital service isn’t going to make or break it. But as we struggle with educating users on the features and benefits, the use of known terms can ease the learning curve.


Gateway Community Bank homepage with news of its new "Dashboard View"
Gateway Community Bank homepage with news of its new “Dashboard View”

Revealed: The Full Presenter Roster for FinovateAsia 2016


As we approach the home stretch with just under two weeks to FinovateAsia 2016, we’re thrilled to announce the full presenter roster. This list includes 36 presenting companies and 252 minutes of the most cutting edge innovations in fintech—all in just one day.

The full presenter roster is on our website and below:

To get an inside look into our presenting companies and their innovations, check out our sneak peek blog series that we’ll continue to update up until the event.

We hope you’ll join us as we launch Finovate’s first Hong Kong event. Tickets are on sale at Space is limited, so get your ticket soon!

Lending Club Launches Car Loan Refinance Product


U.S. P2P lending giant Lending Club has been offering car buyers an alternative borrowing experience since it launched ten years ago. Today, the company announced it is bringing that same transparent experience to the auto refinancing industry.

In its press release, the company cited data from the Center for Responsible Lending, which states that consumers pay as much as $25 billion in interest payments every year due to “dealer mark-up” of their interest rate. Lending Club’s new Auto Refinancing product offers a solution that gives qualified borrowers a more affordable monthly payment and interest rate.

The California-based company, which already offers credit card debt refinancing, hopes to tap into the $1 trillion auto loan market. Consumers can apply online with no hard credit inquiry and compare refinancing offers against their existing auto loan. Lending Club will pilot Auto Refinancing to California residents with FICO scores above 640, but plans to expand geographically and to people with lower FICO scores.


At launch, the company is not using its marketplace lending model to fund the auto debt. Instead, the company itself will buy the debt. However, according to Lending Club CEO Scott Sanborn, the leverage of the company’s balance sheet is only temporary and will be immaterial.

Stakeholders seem to be responding well to today’s news; Lending Club’s stock is up 1.64% to $4.95. This is still below the company’s $15 IPO price, however. Lending Club’ stock dipped in May after its then CEO Renaud Laplanche stepped down amid accusations of loan-documentation errors.

Founded in 2006, Lending Club demoed at FinovateSpring 2009 and at the inaugural Finovate in 2007.

Lendio Closes $20 Million Funding Round


Small business loan marketplace Lendio reeled in $20 million in Series D funding today. Leading the round were Comcast Ventures and Stereo Capital. Existing investors Napier Park, Blumberg Capital, Tribeca Venture Partners and North Hill Ventures also contributed, bringing the company’s total funding to $31 million.

The Utah-based company will use the funds to boost Lendio’s growth via marketing, sales, and brand awareness, which should augment its YOY growth, which already sits at 100%. Other growth figures include:

  • In Q3, Lendio funded $63+ million in loans, up 14% from Q2 2016
  • In Q3, Lendio funded more than 2,900 businesses, up 22% from Q2 2016
  • Lendio saw a record number of repeat customers in Q3, up 33% over Q2 2016

Regarding the company’s growth, Lendio founder and CEO Brock Blake said, “Even though we’ve helped facilitate funding for more than 13,000 small business owners, we’re just scratching the surface as to the number of business owners that we can help; our goal is to help Fuel the American Dream for the millions of SMBs that make up the backbone of our U.S. economy.”

Lendio seeks to decrease the time it takes for small businesses to secure loans. The company works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. Lendio partnered with American Express in April to power its merchant financing offering. In 2015, the company facilitated $128+ million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.

New Investment Boosts Alpha Payments Cloud Valuation to $250 Million


The terms of the investment were not disclosed. But the new funding Alpha Payments Cloud earned from Australia-based First Quay Capital this week is believed to have taken the company’s valuation to $250 million.

“We are very excited to be investing in and partnering exclusively with Alpha in the Gulf region and selected countries in the Middle East,” First Quay Capital chairman, Talal Yassine said in a statement, calling the company “the next generation of unique, innovative, cost-effective institutional middleware on a revolutionary global platform.” First Quay specializes in investments in high-growth industries such as finance, healthcare, and education. The firm also provides support to companies looking to grow their presence in the MENA (Middle East and North Africa) region.


Pictured: Alpha Payments Cloud CEO Oliver Rajic demonstrating AlphaHub at FinovateEurope 2017.

For the financial sleuths out there, recall that Alpha Payments Cloud picked up an investment from Wells Fargo this summer courtesy of its participation in the bank’s Startup Accelerator program. And while the amount from Wells Fargo was also not disclosed, the company reported that investment took its valuation to $100 million. The fact that First Quay Capital’s investment more than doubles Alpha Payments Cloud’s valuation suggests that it was a significant capital infusion, indeed.

Founded in June 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016. The company’s Payments-as-a-Service technology provides a middleware layer that both “amplifies third party access” while making new vendor selection as easy as “the click of a button.” Via the AlphaHub API, users can access more than 250 third-party solutions, as well as Alpha Payments Cloud’s proprietary technologies to ensure access to “any payment type, any solution provider, anywhere in the world.”

Earlier this month, the company announced a partnership with RS2 Software that would help support banks in Thailand. Recipient of a Best of Show award for its demo at FinovateSpring 2015, Alpha Payments Cloud also this month teamed up with Australian online security innovator, Haventec, and will serve as the startup’s preferred integration provider for its identify authentication and secure payment services, Haventec Authenticate and Secure Wallet, respectively. Alpha Payments Cloud will demonstrate its latest technology at FinovateAsia 2016 in Hong Kong, November 8th. Visit our FinovateAsia 2016 page for more details and information on how to buy tickets and save your spot at this year’s event.

FinovateEurope 2017 Application Deadline Just Days Away


It’s that time again: The application deadline for FinovateEurope 2017 is this Friday, October 28. So if you’re thinking about being a part of the show when Finovate returns to Old Billingsgate Market Hall in London on the 7th and 8th of February, then now is the time to put the finishing touches on that application and send it our way.

FinovateEurope is the premier event for startups and veteran companies alike to showcase their most compelling fintech solutions. Whether your innovation brings new biometric authentication technologies to the enterprise (as Best of Show winners EyeVerify and IDScan Biometrics did at FinovateEurope 2016), unveils faster, more efficient ways to onboard customers or use transaction-data analytics (such as FinovateEurope 2015 Best of Show winners Avoka and Meniga, respectively), or even just helps average Janes and Joes better manage their finances (think Tink and Toshl, Best of Show winners from FinovateEurope 2014), there is no better place than Finovate to demonstrate your team’s latest and greatest fintech solutions.


So if FinovateEurope sounds like the kind of opportunity you can’t afford to miss, then here’s what you need to know:

  • Download and review the FinovateEurope 2017 informational PDF for prospective presenters. This document includes background information on the conference itself, our unique demo-only format, as well as an insight into the kind of knowledgable, professional attendees that make up our anticipated audience of more than 1,500, and much more.
  • If you think your technology has what it takes to wow our crowd and make a real difference in the way we save, spend, invest, and interact with the world of finance, then complete your application at and submit it to us by this Friday, October 28th.*
  • That’s it! Our team will review your application and contact you in the next few weeks.

Application season is always a great time for us here at Finovate to get a glimpse at the wide variety of financial technologies that have been incubating for months and are now ready for prime-time. If you have any questions about FinovateEurope 2017 or our application process, please get in touch with us at We’re looking forward to hearing from you!

*Want to apply to FinovateEurope 2017, but still need a bit more time? Email us at and we’ll be happy to help.

FinovateEurope 2017 is sponsored by: Financial Technology Partners and KPMG, and is partners with SME Finance Forum and Verdict Financial. Additional sponsors and partners will be announced soon.

FinovateAsia Sneak Peek: FixNix


FA2016-V1A look at the companies demoing live at FinovateAsia on November 8, 2016 in Hong Kong. Pick up your tickets today and save your spot.

FixNix was born as a bootstrapping entrepreneurial venture to build an affordable cloud GRC suite for growth markets and SMBs.


  • User friendly: It doesn’t deliver a product, it delivers an experience
  • Automation: There is no magic, nor are there hidden tricks, but with FixNix’s technology it can take you there
  • Simple reporting

Why it’s great
Cloudify your regulatory compliance in just 2 minutes!


Shanmugavel Sankaran, Founder and CEO
Sankaran, a.k.a. Shan, worked for Capillary Technologies as CISO, gaining extensive experience and deep understanding of software and cyber security.

FinovateAsia Sneak Peek: Sentifi


FA2016-V1A look at the companies demoing live at FinovateAsia on November 8, 2016 in Hong Kong. Pick up your tickets today and save your spot.

Winner of the 2016 Swiss Fintech award, Sentifi generates real-time, actionable crowd intelligence from over 3 million financial sources not yet available via traditional news outlets.


  • Real-time insights for your investment portfolio
  • Targeted content and analysis from over 3 million sources
  • Custom solutions for media platforms to increase traffic, revenue, and user engagement

Why it’s great
Sentifi makes it simple to maximize your investment strategy. Using the power of the crowd, Sentifi your portfolio to gain real-time insights from over 3 million qualified sources. All in one place.


Dr. Anders Bally, CEO
With a passion for financial technology and crowd intelligence, Bally has used his 25+ years of experience in global financial markets to connect the world with innovative insights previously unavailable.

Finovate Alumni News


  • Lendio Closes $20 Million Funding Round
  • Lending Club Launches Car Loan Refinancing Product
  • Check out today’s sneak peeks of upcoming FinovateAsia demos:

Around the web

  • AdviceRobo reaches 900k credit scores.
  • partners with Intuit to power end-to-end accounts payable within QuickBooks Online
  • Actiance Appoints Cynthia Crossland as CMO
  • Entrepreneur Magazine names Cardlytics One of the Best Entrepreneurial Companies in America
  • American Banker: Bizfi Hires Former Lending Club Exec as New CEO
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal
  • Farm Credit Services of America picks DNA from Fiserv to support agricultural lending.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • Hyperwallet announces support for real-time, push-to-card payments solution, Visa Direct.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.