Finovate Alumni News

On Finovate.com

  • EquityZen Secures $3 Million in Round Led by Draper Associates.
  • Karmic Labs Lands $17.2 Million to Grow Enterprise Payment Solutions.
  • Innovation Acceleration: Incubators and Incubation Labs Drive Development in Fintech.

Around the web

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • Xignite launches the Xignite Channel Partner Program to offer partners integrated cloud-based market data solutions.
  • Betterment launches new Socially Responsible Investing (SRI) Portfolio.
  • Forbes profiles Unison in look at the challenges facing homebuying millennials.
  • CrowdFlower adds former Amazon AI product specialist Robert Munro as VP of Machine Learning.
  • NuCypher introduces its decentralized key management system, NuCypher KMS.
  • AltFi talks about the role of “platformification” in supporting innovation in fintech with Avoka CEO Phil Copeland.
  • IDG Connect interviews Xpenditure CEO Boris Bogaert on current trends in banking including blockchain R&D.
  • IBM opens new data centers in London, U.K.; Sydney, Australia; and San Jose, California.

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

  • PayPal Makes Strategic Investment in Online Lender, LendUp.
  • Summit View: Trends and Challenges for Digital Lenders.

Around the web

  • OakNorth Bank is first European FI to deploy nCino’s Bank Operating System.
  • Avoka opens new office in Germany to support German-speaking banks in the DACH region.
  • IDology unveils ExpectID Call Verification to help fight call center fraud.
  • Klarna teams up with Knomo to give new purchase options to Knomo shoppers.
  • Bill.com announces deeper integration with Intuit’s QuickBooks.
  • DefenseStorm readies for July webinar on cybersecurity for financial services.

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.

Building A Better Onboarding Experience: Avoka Introduces CX Design for Banking

The new CX Design for Banking solution from Avoka is geared to help financial institutions remove friction from their digital customer acquisition and onboarding processes. Through a combination of human design experts and analytic tools, CX Design for Banking helps decrease applicant abandonments, increase conversion rates, and make it easier and more engaging for customers to work with your bank or credit union.

“More often than not, banks oriented their application experience around their own internal processes, instead of on what matters most to their customers, often with unintended consequences,” CX Design Practice Director, Adam Miller explained. The solution was for banks to embrace “customer-centric thinking” and to begin with the customer’s initial interactions with the institutions “or risk watching customer loyalty move to the competition,” Miller said.

CX Design for Banking includes Avoka’s Transaction Effort Score methodology which measures how easy a bank’s application process is to complete compared to others in the industry. An Experience Design Workshop provides a “deep dive” into the bank’s specific issues with regard to customer acquisition and onboarding, and is led by an Avoka CX Design Consultant. And with Avoka’s Transact Insights, CX Design for Banking provides experience optimization through additional application analysis and A/B testing, delivering actionable insights for improvement.

Founded in 2002 and headquartered in Denver, Colorado. Avoka demonstrated its Transact Insights technology at FinovateEurope 2017. A multiple, Finovate Best of Show award winner, Avoka won the ATB Financial Customer Onboarding Global Innovation Challenge earlier this month, and began the year hiring former KPMG executive, Matt Lewis, as its new CFO. The company has raised $12 million in funding, and includes Moelis Australia Asset Management  and Regal Funds Management among its investors. Philip Copeland is CEO.

Finovate Alumni News

On Finovate.com

  • Building A Better Onboarding Experience: Avoka Introduces CX Design for Banking.
  • IBM to Build Blockchain-Based Trade Finance Solution for Seven European Banks.

Around the web

  • CaxtonFX introduces multi-currency account for SMEs.
  • ACI Worldwide teams up with regional payment service provider Peach Payments to launch Alipay in South Africa.
  • TransferTo partners with MallforAfrica to provide African shoppers with access to retailers in Europe and the U.S.
  • Let’s Talk Payments interviews FixNix founder and CEO Shanmugavel Sankaran.
  • Equifax and OpenGI combine forces to bring better fraud prevention technology to brokers.

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

  • Europe’s Got a Brand New Bank as Klarna Earns License.
  • Envestnet | Yodlee Unveils New Financial Wellness Solution.

Around the web

  • Avoka wins ATB Financial Customer Onboarding Global Innovation Challenge.
  • ACI Worldwide offers UP Immediate Payments solutions via hosted cloud.

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.

 

Women on the Finovate Stage

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There are plenty of things about fintech worth celebrating, but today, in honor of International Women’s Day, we’re giving three cheers to the women in fintech!

We’re taking a special look at our most recent show, FinovateEurope, where 23% of the presenting companies were represented by a woman on stage. That’s a 50% increase from 2015, where 15% of the companies had female speakers, and a huge leap from our first event in 2007 with zero (see note 1).

So here’s to progress. And here’s to the women of FinovateEurope:

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Avoka

Hali Khan, Director, Business Development

FinovateEurope 2017 demo

 

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Paulina Powązka, Sr. Business Solutions Consultant

FinovateEurope 2017 demo

 

 

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Eszter Vass, Sr. Product Strategy & Presales Consultant

FinovateEurope 2017 demo

 

 

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Reanta Stein, Business Development Director

FinovateEurope 2017 demo

 

 

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Diana Winstanley, Business Developer

FinovateEurope 2017 demo

 

 

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Tinna Hung, Director, Marketing

FinovateEurope 2017 demo

 

 

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Angelique Mohring, CEO & Founder

FinovateEurope 2017 demo

 

 

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Janice Diner, CEO, Founding Partner

FinovateEurope 2017 demo

 

 

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Mariona Campmany, CMO

FinovateEurope 2017 demo

 

 

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Patricia Soares, Business Developer

FinovateEurope 2017 demo

 

 

32818219881_3de81c5c45_kMitek

Sarah Clark, General Manager, Identity

FinovateEurope 2017 demo

 

 

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Trisha Price, EVP, Product Development & Engineering

FinovateEurope 2017 demo

 

 

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Iveta Brūvele, CEO, and Elīna Rasmane, COO

FinovateEurope 2017 demo

 

 

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Märta Viberg, Head of Product & Consumer Risk

FinovateEurope 2017 demo

 

 

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Michelle Pearce, Co-Founder and Chief Investment Officer

FinovateEurope 2017 demo

 

 

32942531505_6dd568debc_kXignite

Vanessa Gatihi, Global Head, Customer Success

FinovateEurope 2017 demo

 

 

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Editor’s Note: While sadly it’s true that no women were on stage during the 20 demos of the first Finovate. One company, iPay Technologies, was founded by Dana Bowers, but she chose not to speak that day. And Finovate might not even exist if it wasn’t for Melanie Flanagan, then Marketing Manager at Yodlee (also co-founded by a woman), who was the first person to agree to demo. Finally, Susan Hawkins, then SVP at Metavante, was instrumental in getting both her company and Monitise on stage. So there you have it, woman called the shots for at least 20% of Finovate v1.0’s content, even if they ended up delegating the on-stage pitching to men. Thanks Melanie, Dana and Susan! — Jim Bruene, Founder

FinDEVr APIntelligence

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FinDEVr New York is just over one month away. Visit our registration page today and save your spot as our developer’s conference returns to New York City, March 21 & 22, for two days of APIs, SDKs, case studies, coding examples, and more.

On FinDEVr.com

  • Braintree Hires John MacIlwaine as New CTO.

The latest from FinDEVr New York presenters. Catch them at FinDEVr New York next month!

  • ChartIQ to provide Fidessa with HTML5 charting options.

  • Clutch recognizes Softjourn as one of the top web and software developers in the Ukraine.

  • Fiserv wins inaugural Technology Association of Georgia (TAG) Fintech ADVANCE Award for its Verifast palm authentication technology.

  • Vantiv to provide debit, credit, and ATM processing services for Financial Technology Solutions International.

  • Massachusetts-based bank, Salem Five ($4.2 billion in assets) picks Fiserv as its new technology partner.

  • Vantiv partners with CardFlight to Offer EMV Mobile POS Solution.

Alumni updates

  • Intuit deploys VersaPay ARC for its SME customers and accountant clients.

  • Wave to offer OnDeck business loans and lines of credit courtesy of new partnership.

  • IBM leverages Hyperledger Fabric to support a trade finance-oriented blockchain project in Dubai.

  • Entersekt CIO Gerhard Oosthuizen shares advice on passwords and protecting personal data in Moneyweb.

  • ACI Worldwide teams up with Chargebacks911 to help merchants handle fraudulent chargebacks.

  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

  • Envestnet | Yodlee partners with mobile-only banking startup, Varo Money.

  • Xero partners with Sasfin Bank to offer next generation financial management to small businesses.

  • Betterment unveils new multi-plan offering with access to human advisors.

  • Fidor partners with EPAM Systems to gain access to additional product development and software engineering talent.

  • Avoka names former KPMG executive Matt Lewis as new CFO.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Forecasting Fintech for 2017

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It takes more than just one crystal ball to discern which trends will drive fintech innovation in 2017. To this end, here’s a roundup of predictions and prognostications on what the new year will bring in everything from artificial intelligence and the blockchain to payments and banking for the underbanked.

  • Banking ‘Disappears’ and Other Fintech Predictions for ’17 – American Banker
    • Hot Take: “Whether it’s through IoT devices, fintech platforms, virtual assistants or chatbots, people will likely spend more time connecting to their money through such channels and less time directly interacting with their banks.”
  • 3 Key Fintech Predictions for 2017 – Banking.com
    • Hot Take: “As much as 80 percent of the (African) continent is unbanked and up to 90 percent of retail payments are made using cash. This opens the door for fintech players to target consumers and workers who do not have access to traditional banking. Because of this banking gap, it is likely that some countries will entirely skip one generation of payment types (e.g. cards and start building a more innovative, mobile-drive(n) payments infrastructure.”
  • 11 Fintech Trends You Need to Follow – The Finanser
    • Hot Take: “According to EY, China has now taken the lead as the #1 fintech market in the world. Organizations should be looking east for business model innovations that can drive new revenues and sources of profit. New business models, such as Ant Financial and WeBank services, will start influencing fintech in the U.S. and Europe, as they are driven by mobile money services.”
  • Top 10 Fintech Predictions for 2017 – Daily Fintech
    • Hot Take: “Bitcoin moves from its Darknet phase (illegal) to the early adopter Clearnet phase. This is when legitimate people charge in Bitcoin for legal transactions. This will start with cross border digital products. Because this brings new bitcoins into ‘circulation’ with owners who also then want to pay in bitcoin, this starts a sustainable move to mainstream use which supports the price.”
  • Five fintech trends for 2017 – bobsguide
    • Hot Take: “Innovation in artificial intelligence is set to increase in 2017. AI will provide business users with access to powerful insights before they are available to them. This will be done through the use of cognitive interfaces in complex systems, advanced analytics, and machine learning technology.”
  • Top Ten Fintech Predictions for 2017 – Crowdfund Insider
    • Hot Take: “The rebirth of trust is upon us with the advent of distributed ledger. Many issues such as fraud, verification of true ownership, clearance of multi-party transactions and chain-of-events are easily solvable. Insiders have been calling the distributed database, ‘The New Internet.'”
  • Fintech Predictions for 2017 – TechCrunch
    • Hot Take: “2016 brought rocky times for some FinTech lenders, especially in the first half of the year, but through the tumult came maturity. The complexity and challenges of running capital intensive businesses in a highly regulated industry was never more real than 2016, but the top platform weathered the storm, and most are long-term stronger for it. 2017 will continue to be the year where the top players pull away from the pack. At the beginning of 2016, there were an estimated 400+ fintech lenders in the U.S. – in 2017, I expected the supermajority of the lending to come from just 10 or so platforms.”

Fintech 2017 – The Roundtables

  • Fintech: What’s Next? – Breaking Banks
    • Brett King, Moven (F16); Chris Skinner, The Finanser; Jim Marous, The Financial Brand; Dave Birch, Consult Hyperion; Ghela Boscovich, FemTech Leaders; and Penny Crosman, American Banker
  • Fintech Predictions for 2017 – Fintech Insider
    • David M. Brear, 11FS; Chris Skinner; Jason Bates, 11FS; Simon Taylor, 11FS; David Birch; Ben Brabyn, Level3
  • Top 10 Retail Banking Trends and Predictions for 2017 – The Financial Brand
    • Last, but not least, this 90+ page report features insights from a panel of more than 100 global financial service leaders from around the world. Includes Don Bergal, Avoka (F16, FD16); Mike Carter, D3 Banking (F15); Scarlett Sieber, Shamir Karkal, Teppo Paavola, Maria Jose Jorda Garcia, BBVA (F13, FD16); Jon Ogden, MX (F16, FD16); Frank Schwab, Sberbank (F16); Sophie Guibaud, Fidor (F11, FD16); Matthew Wilcox and Deva Annamalai, Fiserv (F16); Bob Legters, FIS (F16); John Waupsh; Kasasa (as BancVue F09); Jelmer de Jong, Backbase (F16).

“F” refers to the company’s most recent Finovate conference appearance. “FD” refers to the company’s most recent presentation at our developer’s conference, FinDEVr. Find out more about our upcoming events FinovateEurope in February and FinDEVR New York in March.

Finovate Alumni News

On Finovate.com

Around the web

  • Crealogix selects Philippe Wirth as new CFO starting in May.
  • QIIB to deploy Sharia-compliant, core banking technology from Misys.
  • Wipro announces new partnership in and investment with Tradeshift.
  • Skipton International to upgrade its legacy platform with core banking technology from Temenos.
  • Avoka names former KPMG executive Matt Lewis as new CFO. Join Avoka in London for FinovateEurope in February.
  • Vantiv partners with CardFlight to Offer EMV Mobile POS Solution.
  • Equifax and Fiserv join forces to provide income and employment verification services to auto lenders.
  • Forbes features GainX founder Angelique Mohring. Come see GainX’s demo live at FinovateEurope next week.

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.

FinovateEurope Sneak Peek: Avoka

Avoka_homepage_January2017

Screen Shot 2017-01-23 at 4.27.53 PMA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

With Avoka Transact, increase your loan book by 40% using frictionless digital customer acquisition.

Features

  • Complete lending applications in three minutes
  • Identify exact entries causing abandonment
  • Offers agile changes and instant measured improvement

Why it’s great
Avoka has increased digital loan application approvals by 40% by making it easy for customers to succeed.

Presenter

Avoka_HaliKhanHali Khan, Director of Business Development, Avoka EMEA
Khan is a director responsible for digital transformation initiatives across financial services customers in Avoka’s EMEA region.
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