Finovate Alumni News

On Finovate.com

  • Intelligent Environments Appoints New CEO.
  • TransferWise Brings New Multi-Currency, Borderless Accounts with Debit Cards to Public.
  • Dream Payments Integrates with QuickBooks and First Data’s Clover.

Around the web

  • Meniga announced as FStech Awards 2018 finalist for ‘Challenges’ financial fitness.
  • Foundr Magazine interviews Expensify CEO David Barrett.
  • The Asian Review features Financial data and chat startup Symphony Software Foundation.
  • Forbes highlights AutoGravity’s take on lending.
  • Privakey is the latest fintech to join the FIDO Alliance.
  • Bluefin Payment Systems partners with Choice Ticketing to support PCI-validated ticketing payments.

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.

AutoGravity Introduces Sheng Wang as New Chief Technology Officer

AutoGravity has appointed Sheng Wang as Chief Technology Officer. The move is a promotion for Wang, who was AutoGravity’s first Director of Product and helped launch the AutoGravity platform in addition to branded platforms for Volkswagen Credit and Kia Motors Finance.

“It has been rewarding to see how AutoGravity has already changed the car financing process and I can’t wait to continue the journey to provide the best digital car buying experience to all consumers,” Wang (pictured) said in a statement. As CTO, she will be tasked with applying her more than 15 years of experience leading product development teams at eBay, Microsoft, the Walt Disney Company, and most recently, AutoGravity, to help further develop the company’s auto shopping platform.

Calling her “a true master of her trade” and a “trusted leader with the utmost command of product and engineering,” AutoGravity CEO and founder Andy Hinrichs credited Wang for the company’s “speed and success in setting the pace of digital retailing in the automotive industry.” In addition to her experience in the technology industry, Wang has a Bachelor of Science from Taiwan University and a Master of Science in Computer Engineering from Santa Clara University.

AutoGravity leverages the power and convenience of mobile devices to make shopping for and financing new and used cars easier than ever. The company partners with banks and financial service companies – as well as car dealerships – to give prospective car buyers and leasers a seamless consumer journey from initial vehicle selection and application for credit through financing and delivery.

Founded in 2015 and headquartered in Irvine, California, AutoGravity demonstrated its platform at FinovateFall 2016, winning Best of Show. Named to the Fintech 100 for 2017’s Emerging Stars, the company surpassed the one million user milestone last month, and in October announced a partnership with Global Lending Services to make financing offers via the AutoGravity platform. Other agreements forged in 2017 include the partnership with Hyundai Capital America launched in September and an agreement with Westlake Financial Services in March.

Finovate Alumni News

On Finovate.com

  • AutoGravity Introduces Sheng Wang as New Chief Technology Officer.
  • nanopay Launches B2B Platform for International Commerce.

Around the web

  • Fiserv announces agreements with five credit unions to deploy its core account processing platform, DNA.
  • PNC goes live on real-time payments network via Finastra’s payment services hub.
  • Fifth Third Bank picks FIS to provide real-time payments for customers.
  • The San Diego Union-Tribune recognizes Jack Henry & Associates as a Top Workplace
  • RightCapital ends its second year reporting $20billion total assets linked to platform.
  • Wired names Meniga one of five Reykjavik startups to watch.
  • NYMBUS completes SOC 2 Type 1 Certification.
  • Avoka named in Deloitte Technology Fast 50 and joins CRN Fast50.

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.

Finovate Alumni News

On Finovate.com

  • RightCapital Announces Integration with Envestnet | Tamarac.
  • Plug and Play Plans New Middle East Innovation Platform in Partnership with Abu Dhabi Global Market.

Around the web

  • FIS introduces FIS Code Connect to facilitate access to its APIs.
  • Ixaris launches its Open Payments Cloud initiative.
  • Auto Finance News interviews AutoGravity EVP of Business Development, Stuart Holmes.

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.

KPMG, H2 Ventures Unveil Fintech 100 for 2017

It’s that time of the year once again: KPMG and H2 Ventures have teamed up to introduce their Leading Global Fintech Innovators roster, the Fintech 100 for 2017. The judges for this year’s Fintech 100 included more than 20 professionals from KPMG and other organizations with expertise in IT, data analytics, capital markets, financial services, and more.

This year 11 Finovate/FinDEVr alums made the Leading 50, with another 12 alums making the Emerging 50. New entrants to the KPMG/H2 Ventures roster include SoFi and Revolut among the Leading 50. All 12 the alums on the Emerging 50 are making their first appearance. See the full list.

Some of the highlights from the 2017 Fintech 100 include the observation that five of the roster’s top 10 companies are from China, as are the top three companies on the list: Ant Financial, ZhongAn, and Qudian (Qufenqi). The U.S. has a pair of companies in the top five: Oscar and Avant, and Europe and the U.K. each have one company in the top ten: Kreditech and Atom Bank, respectively.

Speaking of Asia, the Asia-Pacific region has 30 fintech companies in the top 100. The United States has 19 companies – the most from any single country – and the U.K. and EMEA areas have 41 companies in the list. The U.K. and EMEA region are also responsible for the highest number of companies on KPMG/H2 Ventures’ Emerging 50 list with 26.

With regard to sectors within fintech, the Fintech 100 breaks down as follows:

  • 32 lending companies
  • 21 payments companies
  • 14 transaction and capital markets companies
  • 12 insurance/insurtech companies
  • 7 wealth management/wealthtech companies
  • 6 cybersecurity/regtech companies
  • 4 blockchain/digital currency companies
  • 3 data and analytics companies

Alums from the Leading 50

Alums from the Emerging Stars

Finovate Alumni News

On Finovate.com

  • Token Forges Strategic Partnership with Envestnet | Yodlee.

Around the web

  • ACI Worldwide to provide “technology backbone” for real-time payments platform designed by Payments Network Malaysia.
  • NCR partners with Samsung to launch new all-in-one POS commerce station, NCR Silver Quantum.
  • Grab chooses TransferTo to deliver real-time digital payments to its drivers in Southeast Asia.
  • Meniga wins London Design Awards for brand design experience.
  • PayPal’s TIO Networks suspends operations to protect TIO’s customers.
  • Kinecta FCU to Offer Mortgage Harmony’s CU RateReset products.
  • App Informers lists Credit Karma and Credit Sesame in list of top 5 Identity Monitoring Apps for 2017.

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.

AutoGravity Partners with Global Lending Services

Citing the strong “alignment between car shopper and car dealer motivation,” Global Lending Services has forged a partnership with auto financing innovator and Best of Show winner, AutoGravity. The partnership will enable the auto finance company, based out of South Carolina, to make financing offers through AutoGravity’s platform.

Bill Nemecek, Global Lending Services SVP of Marketing and Sales, said the partnership with AutoGravity would help the firm reach prospective car buyers who increasingly “look to technology to provide easier and convenient car purchasing options.” He added that the solution would also help car dealers, who want to both streamline the auto buying process as well as get cars into the hands of customers faster. “Our partnership with AutoGravity positions us to reach these shoppers, help them with financing, and guide them to dealerships who can deliver on this value proposition through state-of-the-art technology,” Nemecek said.

AutoGravity CTO Martin Prescher during his FinDEVr Silicon Valley 2016 presentation “A Digital Marketplace for the Auto Financing Space.”

AutoGravity leverages smartphone technology to make buying and financing a car faster, easier and more transparent. The company partners with leading banks and financial services companies to give auto shoppers control over their financing options and access to a nationwide network of trusted car dealerships. “Every month, over 100,000 new users download the AutoGravity app so they can buy and finance their next car with smartphone simplicity,” AutoGravity CEO and founder Andy Hinrichs said. “Our partnership with Global Lending Services helps ensure that car buyers across the nation have access to multiple finance offers in minutes, anytime and anywhere they want.”

Headquartered in Irvine, California and founded in 2015, AutoGravity demonstrated its platform at FinovateFall 2016, winning Best of Show. The company has enjoyed a busy and productive 2017, beginning the year with a “multi-million Euro” investment from Daimler Financial Services, and picking up further investment capital from VW Credit in July. AutoGravity teamed up with Fletcher Jones Auto Group in June and  forged a partnership with Hyundai Capital America in September, the same month the company announced surpassing $1 billion in financing requested via its platform. A member of CBInsights Fintech 250, AutoGravity presented A Digital Marketplace for the Auto Financing Space at our developer’s conference, FinDEVr Silicon Valley 2016.

Finovate Alumni News

On Finovate.com

  • AutoGravity Partners with Global Lending Services.
  • SelfScore Rebrands as Deserve, Closes on $12 Million in Funding.
  • Credit Sesame Raises More than $42 Million, Unveils Robo Advisor for Credit.

Around the web

  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • Commercial loan origination, CRM are among the new features in Baker Hill NextGen solution.
  • OnDeck partners with Ingo Money and Visa to provide loans to SMEs via debit card.
  • Westpac NZ to transition to real-time banking platform from ACI Worldwide.
  • Regions Bank to add P2P payment and account-to-account transfer solutions from Fiserv.
  • iSignthis announces new agreement with Omnislots.com operator, Dialinvest.
  • Payment Ninja to launch in the U.S. in November.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services
  • Russian bank Lipetskcombank implements new mobile banking app built on Tranzware Mobile Banking from Compass Plus.
  • Accenture and nCino expand alliance to accelerate digital transformation within top U.S. banks
  • Symbiont joins Wall Street Blockchain Alliance as corporate member.
  • Envestnet | Yodlee to integrate risk insight solutions with Fannie Mae’s Ddsktop underwriter validation Service.

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.

Finovate Alumni News

On Finovate.com

  • Ripple Selects Singapore for New Asia Office.
  • ayondo Remains a Private Company after Reverse Takeover Bid Lapses.

Around the web

  • nCino opens office in London, positioning itself for continued international growth.
  • Inetco adds data access options.
  • WorkFusion teams with Virtusa to Launch AI-Powered Bank Sanction Screening Solution.
  • InComm Continues Nationwide Expansion of Tolling and Transit Program.
  • In the face of consumer skepticism, Worldpay develops SDK for IoT shopping.
  • AutoGravity Surpasses $1 Billion USD In Finance Amount Requested, Launches Real-Time Dealership Inventory Nationwide.

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.

AutoGravity Teams Up with Hyundai Capital America

Thanks to a new partnership between Finovate Best of Show winner AutoGravity and Hyundai Capital America, California car buyers using AutoGravity have new financing options when looking to buy a Hyundai, Kia, or Genesis vehicle. “With the growing number of consumers embracing AutoGravity, as well as the seamless integration of AutoGravity with dealer process, we felt that this was the perfect opportunity to test the platform,” Hyundai Capital America President and CEO Ross Williams said.

AutoGravity founder and CEO Andreas Hinrichs said the partnership with Hyundai Capital America – which does business as Hyundai Motor Finance, Kia Motors Finance, and Genesis Finance – will give users of the auto buying and financing app a greater range of financing options. “AutoGravity brings the car financing experience into the digital age where today’s consumer wants to find it: in the palm of their hand,” Hinrichs added.

Available in at both the Apple App Store and at Google Play, AutoGravity’s free app digitally connects prospective car buyers and leasers with lenders and dealers. Partnerships with leading banks and captive lenders like Hyundai Capital America enable car shoppers to arrive at the dealership with everything from vehicle selection to financing already ready-to-go. Since its launch in 2016, more than 700,000 consumers have downloaded AutoGravity’s app.

Founded in 2015 and headquartered in Irvine, California, AutoGravity demonstrated its app at FinovateFall 2016, winning Best of Show. Last month, the company was highlighted by GoBankingRates as one of the best personal finance apps and featured by AutoFinance News as one out of 10 auto finance and mobility companies leveraging AI. AutoGravity announced an investment from VW Credit, Volkswagen’s finance division in July, a partnership with Fletcher Jones Auto Group in June, and won the 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award in May.