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.

Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

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Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

  • HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

 

BioCatch to Power Behavioral Biometrics for Samsung SDS America

Behavioral biometrics and threat detection firm BioCatch announced it is working with software solutions and IT services company, Samsung SDS America, to combat fraud that occurs after a user has logged in.

Through the partnership, BioCatch will integrate a layer of fraud protection that works beyond the login process into Samsung SDS’ Nexsign enterprise biometric authentication software. The integration is intended to fill security gaps that occur when mobile apps don’t require users to login multiple times to validate their identity. To solve this, BioCatch will collect and analyze more than 500 parameters around a user’s activity– continuously monitoring their behavioral patterns within the app to authenticate the user and detect abnormal bot or malware behavior.

In a statement Eyal Goldwerger, Chief Executive Officer at BioCatch remarked at how new innovations in fintech have made it easy for users to conduct their banking activities. He added:

“However, given how sophisticated fraudsters are today, the consumer-grade authentication protocols that exist leave open the real possibility of account takeovers. In fact, all the fraud that BioCatch finds today, comes from within authenticated sessions, prompted by malware, social engineering and other sophisticated attacks that circumvent the login method entirely. As a result, security continues to be a major factor holding back the full potential of mobile banking and payments… Through Nexsign and our partnership, Samsung has created the platform that resolves this constant battle.”

Founded in 2011, BioCatch monitors 4 billion transactions per month for a handful of major banks. Earlier this year, the company bolstered its fraud detection by forming a relationship with LexisNexis Risk Solutions to offer companies additional risk scores by monitoring user behavior and discerning between real and fraudulent users. In April, the company partnered with Experian to prevent new account fraud for CrossCore users and in February BioCatch teamed up with Nuance Communications to power continuous authentication for Nuance Security Suite solution.

At FinovateFall 2014, the company showed off Invisible Challenges. The company has raised $11.6 million and is headquartered in Israel.

Finovate Alumni News

On Finovate.com

  • Ledger Partners with Intel to Boost Blockchain App Security.
  • BioCatch to Power Behavioral Biometrics for Samsung SDS America.
  • Clinc Teams with Enacomm to Bring AI Chatbots to Small Banks and Credit Unions.
  • Finn.ai Powers Facebook Messenger’s First, Fully-Featured, AI-Powered, Virtual Banking Assistant.

Around the web

  • PayPal launches PayPal for Marketplaces
  • Forbes: Banks Wanted To Sink Kantox— Now They’re Vying For Its Technology
  • Zumigo’s  Zumigo Assure now prevents payment fraud even when card numbers are compromised.
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Finicity launches online platform that allows lenders to order, manage and monitor digital verification reports.
  • DAVO’s Sales Tax App, now available in the Square App Marketplace.
  • D3 Banking partners with P2P payments network, Zelle.
  • Behavioral biometric technology from BioCatch to be integrated into Samsung’s Nexsign platform.
  • Top Image Systems introduces its eFLOW AP solution for SAP.
  • Zafin offers its miRevenue platform as a cloud-based SaaS solution.
  • Scalable Capital provides BlackRock employees with streamlined access to its investment management 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.

Finovate Alumni News

On Finovate.com

  • German Challenger Bank N26 Deploys Banking Technology from Mambu.
  • Realty Mogul Launches Second REIT, REIT II.

Around the web

  • Baker Hill NextGen Statement Spreading to bolster commercial lending underwriting for People’s Bank and Trust.
  • Fenergo adds Michele Shepard as Chief Revenue Officer and Greg Watson as Managing Director of Sales and Strategy.
  • LendingTree partners with Benzinga for its Fintech Innovation Challenge.
  • eToro Platform Adds Trading Support for Five Cryptocurrencies.
  • BioCatch to power Fraud Prevention Solutions for HoneyTek Systems
  • SmartX (formerly HedgeCoVest) Announces the Addition of BlackRock, Morningstar Investment Management, and Nasdaq Dorsey Wright.

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.

BioCatch Partners with LexisNexis to Leverage Data and Analytics for Better Risk Management

Behavioral authentication and threat detection company BioCatch teamed up with risk management company LexisNexis Risk Solutions today in an effort to reduce losses caused by fraud.

Specifically, the two companies aim to mitigate application fraud and account takeover fraud, which account for 40% of total fraud losses. Paul Bjerke, VP of fraud and identity management of LexisNexis Risk Solutions noted that companies cannot address application fraud with static means. Instead, Bjerke suggested “supplementing applicant-provided data with additional dynamic data sources, like behavioral biometrics.”

The combined solution will offer companies additional risk scores by monitoring user behavior and discerning between real and fraudulent users. Specific behavioral clues include:

  • Application Fluency: how well a user knows the site
  • Navigational Fluency: how well a user knows various computer functions
  • Data Familiarity: how well a user knows the information they are entering

“By understanding ‘how’ a user enters information into an application, and not ‘what’ information is being entered, we are able to change the rules of the game and seamlessly provide a completely new level of identity assurance in an era of rampant identity theft,” Eyal Goldwerger, BioCatch CEO said.

Founded in 2011, BioCatch monitors 4 billion transactions per month for a handful of major banks. In April, the company partnered with Experian to prevent new account fraud for CrossCore users and in February BioCatch teamed up with Nuance Communications to power continuous authentication for Nuance Security Suite solution. At FinovateFall 2014, the company showed off Invisible Challenges.

Finovate Alumni News

On Finovate.com

  • Socure Raises $14 Million in New Funding
  • BioCatch Partners with LexisNexis to Leverage Data and Analytics for Better Risk Management
  • Colorado’s PSCU Completes Digital Banking Roll Out Powered by Malauzai Software

Around the web

  • Voice collaboration specialist GreenKey wins patent for speech-to-text technology.
  • NCR deploys Windows 10 IoT Enterprise with major European financial institution.
  • IdentityMind Global announces enhancements to its Enterprise Fraud Prevention platform.
  • Vantiv goes live with its cloud payment API, triPOS.
  • Forbes lists SoFi, Credit Karma and Prosper in its list of the 10 biggest fintechs in America.
  • ABN AMRO selects DemystData for Launchpad Program.

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

  • Personal Capital Extends Series E Round by $40 Million.
  • Conversational AI Comes to USAA Courtesy of Clinc.
  • nCino Inks 100th Customer in Pacific Western Bank.

Around the web

  • Actiance Introduces First Compliance and Archiving Solution for WeChat and WhatsApp.
  • Xero expands Stripe partnership for automated reconciliation.
  • DBS, Xero unveil bank feed integration for SMEs.
  • ICT solution provider Telindus announces integration into the Ripple network.
  • LeanXcale earns a spot in the DB-Engines Ranking of relational and NoSQL database management systems
  • BioCatch granted patent for technology that detects remote access tools in order to spot malicious behavior.
  • Flybits launches new Experience Studio, announces partnership with Bouygues Energies & Services.
  • Wipro opens new Silicon Valley Innovation Center in Mountain View, California.
  • Micronotes partners with TimeTrade to bridge the clicks-to-bricks divide.
  • Credit Union CEOs Move 5 Millionth Member to Insuritas.
  • Gro Solutions to relocate its headquarters to Midtown Atlanta.

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

  • Expensfy Brings Auto Expensing to Lyft Business Riders.
  • Ephesoft Earns $15 Million Investment from Mercato Partners.
  • Summit View: What Drives Innovation in Regtech and Insurtech?

Around the web

  • LendingClub expands partnership with Opportunity Fund to help entrepreneurs access capital.
  • Gene Lockhart appointed Chairman of DemystData.
  • BioCatch receives patent for detecting the presence of remote access tools.
  • eToro launches Crypto CopyFund that includes top cryptocurrencies.
  • Segmint partners with IBM to enhance Financial Institutions’ data ACI Worldwide expands in Romania
  • FICO extends cybersecurity score to rate 4th party risks.
  • BrightFunds and Roostify named to Forbes Cloud 100.
  • GreenKey Technologies partners with Red Box Recorders to launch trading voice collaboration and compliance recording solution.
  • American National Bank selects Jack Henry Banking’s SilverLake System.
  • Hip Pocket graduates from Points of Light Civic Accelerator.
  • Financial Resources Federal Credit Union Teams with Roostify to Create Better Online Mortgage Experience.
  • Santander partners with supply chain finance startup Tradeshift.
  • Bancpass issued patent for its mobile payment technology.

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

  • Ayondo Opens Offices in Barcelona and Madrid

Around the web

  • Financial Times profiles Avi Turgeman, founder of BioCatch.
  • Metro Bank to deploy workforce management technology from NICE.
  • Let’s Talk Payments interviews OneVisage founder, Christophe Remillet.
  • Darwinex reveals winners of its DarwinIA Trading Challenge.
  • Synergix features CashSentinel (in French).
  • Siam Commercial Bank deploys Ripple technology for cross-border payments between Japan and Thailand.

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.