Trusted Knight Unveils Financial Fraud Fighting Solution, Protector Air

Digital data security specialist Trusted Knight launched Protector Air this week. The cloud-based solution deploys in-stream between consumers and businesses to defend against cyberattacks and fraud. The solution is capable of protecting against a variety of fraudulent activity and malware including rootkits, man-in-the-middle browser attacks, session hijacking, and account takeovers.

“The conventional security approach has been to protect the endpoint and the web application separately using two distinct solutions,” Trusted Knight CEO and founder Joseph Patanella explained. “What we’ve enabled is the modern paradigm of accepting that there will be compromised endpoints as well as attacks on web servers, but secure business can still take place if each touch point of each transaction is protected,” Patanella said. “We are creating a new category of solutions with Protector Air – one that provides full transaction stack protection.”

Protector Air secures three cyberattack vectors: protecting websites from direct infrastructure, framework, and application logic attacks; protecting users from endpoint and browser-based malware such as keyloggers and Trojans; and protecting the communications itself from service disruption caused by distributed denial-of-service (DDOS) attacks. With an anti-fraud intelligence layer to protect transactions, Protector Air’s technology is unified, agentless, turnkey, cloud-based, and platform independent.

Headquartered in Annapolis, Maryland and founded in 2010, Trusted Knight demonstrated its Protector Anti-Crimeware Software at FinovateSpring 2013. Last fall, the company forged a strategic partnership with channel enablement specialist, eTECH Channel to help it better bring its full product suite of anti-fraud solutions to market faster and more efficiently. Last summer, Trusted Knight was named a finalist in the SC Awards 2017 Europe in the Best Fraud Prevention solution category. The company secured Series B funding in 2016 (the amount of the investment and the name of the investor were undisclosed) and has made one major acquisition, the purchase of Massachusetts-based cybersecurity firm, Sentrix.

Your Sneak Peek into FinovateSpring Begins Next Week

Spring is officially here and it’s time for a fresh look at the dozens of companies that will take the stage at FinovateSpring at the Santa Clara Convention Center on May 8 through 11. New this year, we’ve expanded the show to four to include discussions and analyses of a range of fintech topics.

If you haven’t registered yet, there’s still time to save on your ticket.

Your sneak peek into the demos

Finovate’s demo-only format will take center stage on the first two days, highlighting a range of fintech startups who will demo their newest offerings.

To get ready for what’s to come, we’re featuring a series of sneak peeks of some of the demoing companies. Stay tuned on the blog throughout the next few weeks as we reveal what each company is working on and why it’s worth paying attention to. As FinovateSpring draws near, we’ll also highlight notable speakers and keynote addresses that will take place later on in the conference.

For more of what to expect, check out the agenda, view the list of demoing companies, and plan your visit.

Finovate Alumni News

On Finovate

  • Trusted Knight Unveils Financial Fraud Fighting Solution, Protector Air.

Around the web

  • Beacon Community Bank to deploy Jack Henry’s SilverLake System for core processing.
  • Finastra welcomes APAC early adopters to its 0pen architecture ecosystem.
  • Roostify announces new VP for Business Development, Mark McLaughlin.
  • BioCatch voted “Best Innovation in Securing Transactions” at the European Payments Summit’s Florin Awards.
  • Payfone launches Instant Experiences for Retail platform.
  • Users can now add multiple credit and debit cards to their PayPal account directly from BofA’s mobile app.

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.

Hyperwallet’s Partnership with Lyric Brings Advance Royalty Payments to Artists

Mass payout platform Hyperwallet has teamed up with Lyric Financial, a financial services provider specializing in royalty advances and loans for musical artists.

In the press release, Hyperwallet CEO Brent Warrington explained that recording artists face a struggle of income unpredictability. “Our job as a global payout platform is to help change the way these folks get paid, ultimately ensuring financially vulnerable workers have quick, efficient, and secure access to their earnings, whenever and wherever they need them,” he added.

Hyperwallet’s payout solution is scalable and allows users to get paid in real-time. This is valuable to Lyric clients, who will benefit from faster, more efficient royalty payment advances that help smooth out irregular and delayed payouts for their work. “Powering our royalty payment disbursement platform with Hyperwallet has not just improved the speed of distribution, but has also further increased visibility into the process for our payees,” said Eli Ball, Lyric Financial CEO.

Since Hyperwallet facilitates low-cost bank transfers across almost a dozen countries, including India, Russia, Brazil, and Indonesia, the partnership will also help Lyric support its growing roster of global clients. Ball added, “It’s reassuring knowing that the Hyperwallet network can easily enable us to expand our local payouts across 100+ countries quickly and easily.”

Hyperwallet most recently presented at FinDEVr Silicon Valley 2016, where Bill Crowley, Chief Product Officer, and Blair Olynyk, Software Architect, gave a presentation titled, Pay the Planet: Implementing Frictionless Global Payout Distribution. Last December, Hyperwallet began supporting payouts from Amazon’s Australia marketplace. Hyperwallet was founded in 2000 and is headquartered in Austin, Texas.

Personetics Brings Cognitive Banking to Romania’s Banca Transilvania

Cognitive banking has come to CEE.

Romania’s second largest bank, Banca Transilvania, will integrate AI-powered, forward-looking financial guidance into its digital banking experience courtesy of a new partnership with Personetics. The bank, with more than 2.2 million clients, will add Personetics’ technology to the new version of its BT24 Internet Banking and Mobile Banking solution this year, giving Banca Transilvania’s retail and business customers access to insights and tools to better manage their finances.

“With the move towards open banking and PSD2 compliance, the ability to utilize data assets to deliver personalized service and guidance will become a key competitive differentiator for financial institutions in Europe and elsewhere,” Personetics CEO and co-founder David Sosna said. Speaking for Banca Transilvania, CEO Omer Tetik praised the way the technology will enable the bank to get its products to customers faster, and called the partnership with Personetics, “a new and strategic step regarding our digital focus and proof of our commitment to offer convenient and reliable services to our customers.”

Personetics specializes in leveraging machine learning, predictive analytics, and AI to help banks and credit unions create personalized, digital banking experiences for their customers and members.  The company’s Cognitive Banking Brain engine enables a range of applications including a Cognitive Banking Framework; Personetics Engage to provide personalized guidance for customer financial management; Personetics Assist, an AI-driven chatbot solution for institutions; Personetics Act, an automated money management solution; and Personetics Anywhere, which enables banks to deploy chatbot solutions over popular messaging platforms. The solutions help banks lower operational costs, increase cross-selling, and build better quality online engagement.

Founded in 2010 and headquartered in Tel Aviv, Israel, Personetics demonstrated its Personetics Anywhere chatbot solution for financial services at FinovateFall 2016. Last month, the company announced that challenger bank Tandem would use Personetics’ technology to provide personalized financial guidance for its customers. Also this year, Personetics has announced a partnership with Israel Discount Bank, where it will power the intelligent financial assistant, Didi. The company serves more than 45 million customers worldwide, and is partnered with six of the top 12 banks in North America and the European Union.

Named a Gartner Cool Vender, a Top Ten FinTech Company by KPMG, and a Top Ten Company to Watch by American Banker, Personetics has raised $18 million in funding. The company includes Lightspeed Venture Partners, Viola Ventures, and Sequoia Capital among its investors.

SumUp Facilitates Cashless Donations for the Church of England

Mobile payments company SumUp is making it easier for church congregations to donate thanks to a partnership with the Church of England. The Ireland-based company’s mobile point of sale (mPOS) technology will be available for congregations to make contributions at weddings, funerals, christenings, and other church events such as concerts. This follows a successful trial of contactless payments in around 40 churches last summer.

Specifically, SumUp will facilitate contactless, virtual terminal, and mobile SMS donations for the church, which regularly receives more than $800 million (£580 million) in donations per year. This is expected to not only make payments faster and easier but also to adapt to a younger congregation demographic in an increasingly cashless society.

All of the Church of England’s 16,000 churches will have access to a portable SumUp Air card reader. These terminals accept contactless payments, Apple Pay, and Google Pay, as well as chip & PIN and can process 500 transactions on a single charge.

If you’re worried the biblical parable of the widow’s offering will be less relevant, do not fear– the terminals will not be used to accept regular tithes and offerings from the church pews. There is still too much friction involved, since each transaction must be entered into the terminal by a church deacon or other representative, and because a card transaction still takes more time than simply dropping cash into the collection plate.

In a press release, National Stewardship Officer of The Church of England John Preston said, “How we pay for things is changing fast, especially for younger church-goers, who no longer carry cash, and we want all generations to be able to make the most of their place of worship. Installing this technology does mean that one-off fees can be done via card, as can making one-off donations. The vast bulk of regular giving will continue to be done by standing order as we continue our trial with various technologies.”

SumUp was founded in 2011 and was recently named Europe’s fastest-growing company in the Inc. 5000 rankings. That achievement is difficult to contest– SumUp onboards more than 2,000 new companies each day, processes more than 100,000 global transactions every day, and exceeded $98 million (£70 million) in annual revenue last year. The company’s clients include DHL, black cab drivers, Tupperware, and Bosch. SumUp demonstrated its mPOS system at FinovateEurope 2013 in London. The company has raised $44 million from investors including American Express, BBVA, Groupon, and Holtzbrinck Ventures.

Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender

FinovateSpring Best of Show winner Neener Analytics is showing a leading payday lender headquartered in Jamaica how its social media analytics can help boost a number of KPIs.

In a recent email, Neener Analytics said that a just-completed pilot resulted in lowering the lender’s default rates by 33%, and showed ways to grow revenue by more than 20% and  increase loan volume by than 33% without increasing current risk thresholds.

“We’re not cherry-picking here. This is just another example of results we achieve regularly for our customers,” the company stated.

Neener Analyics has developed social media analytics solutions for lenders, insurance companies and other businesses to help assess risk outcomes for thin file and no file credit customers. The company’s regulatory, compliant solutions work with a simple, single login from Facebook, LinkedIn, or Twitter, and enable institutions to predict which borrowers represent a high default risk, which borrowers are likely to payoff debts early, and even which debtors are likely to pursue full amortization (the likelihood that their debt will be revolved). Neener Analytics also provides a risk-correlated, projected FICO score with an accuracy of nearly 80%.

At FinovateSpring last year, the company demoed key features of its compliant social media analytics platform: Default Prediction, Transactor-Revolver Prediction, and Risk Alignment. Based in San Jose, California, Neener Analytics was co-founded by Jeff LoCastro (CEO) and Marc Tomlinson (CTO & Co-founder). The company is an alum of the Plug and Play accelerator, entering the program in the fall of 2017, and was a finalist in the Citi Tech for Integrity Challenge. Read our profile of Neener Analytics from last summer.

Finovate Alumni News


  • Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender.
  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Hyperwallet’s Partnership with Lyric Brings Advance Royalty Payments to Artists
  • SumUp Facilitates Cashless Donations for the Church of England.

Around the web

  • AutoGravity announces new partnership with Infiniti.
  • New alliance with Mainsys helps bolster Temenos presence in Belgium.
  • Currencycloud unveils Global Collections to enable customers to receive cross border payments with less cost and less friction.
  • Flywire and Flutterwave partner on cross-border payments & receivables in Nigeria.
  • Cardlytics announces Q4 and full year 2017 financial results.
  • Somerset Trust Company selects Digital Onboarding for fully automated new account activation.
  • Finicity announces integration agreement with Ellie Mae to provide its digital asset verification solution through Ellie Mae’s Encompass platform.
  • expands use of Paydentity from iSignthis for China eKYC.

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.

Ellie Mae to Power Delivery of Loan Data and Documents for Pacific Union

Mortgage finance platform provider Ellie Mae has teamed up with government lender Pacific Union Financial.

Under the agreement, Pacific Union will leverage Ellie Mae’s Encompass mortgage management solution. Customers of both Pacific Union and Ellie Mae will be able to deliver loan data and documents from Encompass to Pacific Union more efficiently and in real time. Specifically, joint customers will no longer need to download and upload loan data in multiple locations. “At Ellie Mae, our mission is to provide our lenders and partners with a true digital mortgage, which encompasses everything from consumer interest through loan delivery,” said Parvesh Sahi, SVP at Ellie Mae.

“Through our partnership with Ellie Mae, we will improve our efficiency by offering a secure, seamless data and document delivery workflow from their system of record,” said Warren Little, Chief Technology Officer at Pacific Union Financial. “We look forward to working with Ellie Mae to offer digital mortgage solutions that enhance customer service and business operations.”

Ellie Mae’s Encompass Mortgage Solution helps lenders originate more loans with lower origination costs and a faster time to close. Encompass leverages the company’s network of more than 230,000 users, thousands of service providers, and millions of transactions every month.

Founded in 1997, Ellie Mae demonstrated Encompass Consumer Connect at FinovateSpring 2017. The online lead generation tool turns consumer interest into a mortgage application by letting the borrower complete an application, provide and receive information, and order services from a single platform. During the demo, presenter Jonas Moe, SVP of Market Strategy, demonstrated an API integration by showing off an Alexa integration with Encompass Plus– asking questions such as, “What loans have rate lock expirations this week?” and “Search for a better rate.” Ellie Mae is headquartered in Pleasanton, CA. Jonathan Corr is president and CEO.

Australia’s Business-Only Challenger Bank Tyro Launches Tap & Save

A year after its FinovateSpring debut, Australia’s business-only challenger bank Tyro has introduced Tap & Save. The solution enables merchants to process debit tap-and-go payments through the more economical EFTPOS network, bringing least-cost routing and greater savings to Australian businesses.

“Our aim is to remove the barriers from business success and we are thrilled to give our customers the opportunity to be the first businesses in Australia to benefit from Tap & Save,” Director of Product at Tyro Bronwyn Yam said. “As the first-move in offering least-cost routing to merchants, it certainly gives our customers an advantage.” In a statement, Tyro said that merchants using Tap & Save will save on average six percent on merchant service fees (MSF) while the majority of Tyro merchants will save between twenty percent and twenty percent on re-routed transactions.

(Left to right): Tyro’s Caitriona Kely and Christopher Logan demonstrating the company’s Smart Growth Funding lending product at FinovateSpring 2017.

Tyro announced its initiative to provide lower cost routing via the EFTPOS network back in December, directly targeting merchant concerns about rising costs from contactless payments made with debit cards. The company cited a report from the Reserve Bank of Australia that noted that the average merchant service fee is charged at 0.26 percent on card transactions via EFTPOS, compared with 0.58 percent when the same transactions are processed through scheme card networks. This, combined with the observation that Australian consumers are especially frequent users of contactless payments (more than four in five using contactless payments at least once a week), helped spur Tyro’s decision to provide the lower cost service by the first quarter of 2018.

“Our plan to decrease acquiring costs for debit contactless payments through the eftpos network will be seamless for merchants, easy to enable and there will be no extra fees,” Tyro’s Rob Ferguson, Executive Director and Acting CEO said.

The decision was also likely driven by a directive from Australia’s House of Representatives Standing Committee on Economics which called on banks to give merchants the option of sending contactless payments through EFTPOS network. Tyro’s announcement before the April 1st deadline makes the bank the first to comply.

Tyro began the year with news of a new CEO. Robbie Cooke, former Managing Director and CEO of Tatts Group, will take the helm at the bank at the end of March. With a background in Australian customer-centric and technology-driven businesses, Cooke guided Tatts Group through its merger with Tabcorp last December. “I believe Tyro is very well positioned with its proven track record and custom-build technology platform to better respond to the banking needs of Australia’s SMEs, which are the backbone of our economy,” Cooke said.

Headquartered in Sydney, Australia, Tyro demonstrated its Smart Growth Funding lending solution at FinovateSpring 2017. The challenger bank provides integrated payment, deposit, and unsecured working capital solutions for more than 20,000 SMEs, and collaborates with more than 200 POS providers and cloud accounting platforms to bring better banking solutions to small businesses. In its fiscal year 2017, Tyro processed more than $10 billion in payment transactions, generating $121 million in revenue. With a compound annual growth rate of 34% over the past five years, Tyro has more than $100 million capital and reserves.