Finovate Alumni News

On Finovate.com

  • Sberbank in Slovenia Partners with Open Banking Platform Provider Token.
  • Equifax Acquires DataX to Promote Financial Inclusion.

Around the web

  • Wirecard and Mastercard collaborate to make contactless payments using wearable technology more accessible.
  • Roostify expands leadership ranks with new Chief Customer Officer, new VP of Sales, and new General Counsel.
  • VyStar Credit Union ($7.6 billion in assets) to upgrade core banking solution with technology from FIS.
  • Hyperwallet to provide mass payment distribution for content processing platform, Wordapp.com.
  • Premier America Credit Union ($2.5 billion in assets) to deploy core processing technology from Jack Henry & Associates.
  • Santander integrates nCino’s Bank Operating System.
  • Carte Wealth Management to launch advisor engagement platform powered by DigitalReach from BlueRush.
  • TechCrunch reports: Coinbase Reportedly Gets Approval from US regulators to Start Listing Tokenized Securities.
  • Ephesoft releases new Swagger/OpenAPI-web services for Ephesoft Transact.

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

  • TransferWise Helps Monzo Clients Send Money Abroad.
  • Hydrogen Takes Top Honors at Fintech Awards Luxembourg 2018.
  • Gusto Launches Flexible Pay, Turning Payday into Any Day.

Around the web

  • The Paypers interviews Comarch product development manager Bartłomiej Wójtowicz.
  • ACI Worldwide VP of Merchant Payments for Europe Andy McDonald discusses the future of real-time payments.
  • PYMNTS.com takes a look at PayPal’s acquisition of Hyperwallet.
  • Quadient announces availability of Quadient Inspire R12.
  • Passport powers mobile parking app for University of Illinois.
  • Finastra to sell its Collateral Management Corporation (CMS) business to Teranet.

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 Sells to PayPal for $400 Million

Eighteen years after its launch, merchant payout platform Hyperwallet is receiving a payout of its own, to the tune of $400 million. The California-based company sold to payments pioneer PayPal this week, marking PayPal’s fifth acquisition in the past two years and its 16th total.

Hyperwallet helps businesses with mass payouts for earnings, commissions, and royalties payments and is best known for supporting payments in the gig economy. Some of the company’s more notable clients include HomeAway, Tilr, and Scentsy. In a blog post, Hyperwallet CEO Brent Warrington said, “Combining forces with PayPal will not just enhance our payout solutions but enable us to provide an integrated suite of payment capabilities to ecommerce platforms and marketplaces almost anywhere in the world.”

PayPal already has a solid foothold in the mass payout market, serving players such as Uber, Airbnb, and eBay. However, the company notes the acquisition will help it provide PayPal and Braintree merchants with “a comprehensive payments solution, including Hyperwallet’s localized, multi-currency payment distribution capabilities in more than 200 markets with numerous disbursement options, including prepaid card, bank account, debit card, cash pickup, check, and PayPal.”

The deal is expected to close in Q4 of this year. After the acquisition is finalized, the Hyperwallet team will report to Braintree General Manager Juan Benitez.

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. Earlier this spring, Hyperwallet teamed up with Lyric Financial to bring advance royalty payments to artists. Last December, the company opened its first Asia Pacific office in Australia and soon after began offering disbursements from Amazon’s Australia marketplace.

Finovate Alumni News

On Finovate.com

  • BILLSHARK and Payrailz Team Up to Help Consumers Save on Monthly Bills.
  • Hyperwallet Sells to PayPal for $400 Million.
  • SmartAsset Scoops Up $28 Million in New Funding.

Around the web

  • Pindrop launches new risk-based authentication solution for call centers, Pindrop Express.
  • NCR and Tata Consultancy Services (TCS) announce strategic alliance.
  • PayPal acquires Hyperwallet for $400 million in cash.
  • Hancock Whitney Bank picks Envestnet platform to support its broker-deal and trust businesses.
  • U.S. Bank partners with FutureAdvisor to develop Automated Investor, a digital wealth management tool.
  • doxo honored as Gold Stevie Award Winner in 2018 American Business Awards.

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

  • LendingTree Launches Free Credit Monitoring.
  • eToro Raises $100 Million in Series E.
  • NICE Actimize Launches AI-Powered Financial Crime Investigation System.

Around the web

  • Hyperwallet tackles payments for staffing and recruiting platform tilr.
  • Compass Plus offers active-active database clustering on TranzAxis.
  • Steward Bank selects NetGuardians to help fight against fraud.
  • Kasasa named one of “2018 Best Places to Work in Financial Technology” by American Banker
  • CardFlight announces that over 80% of SwipeSimple merchants have been upgraded to EMV quick chip payment acceptance.
  • Revolut launches disposable virtual cards for online payments.
  • ACI Worldwide teams up with Shanghai-based UnionPay International.
  • IdentityMind Global announces GDPR-readiness ahead of the EU’s May 25th deadline.
  • MaxMyInterest adds former TD Ameritrade executive Tom Bradley to Advisory Board.
  • NICE Actimize unveils new AI-powered financial crime management solution, Actimize ACTone.

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.

Finovate Alumni News

On Finovate.com

  • 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.
  • XM.com 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.

Hyperwallet Now Supports Payouts from Amazon’s Australia Marketplace

‘Tis the season for online shopping (and selling). Today, just weeks after the Texas-based company opened its Asia Pacific office in Sydney, Australia, mass payout platform Hyperwallet began supporting disbursements from Amazon’s Australia marketplace.

Starting today, Amazon sellers across the globe can leverage Hyperwallet’s multi-currency payout solution to accept disbursements from sales made on Amazon’s new Australia-based marketplace. Simon Banks, Hyperwallet’s Asia Pacific Managing Director, said that the company aims to extrapolate Amazon’s usability into “the supply side of marketplace transactions, streamlining the onboarding and disbursement process for independent sellers.” To register, sellers use the Login with Amazon option on Hyperwallet’s page. Once registered, users benefit from Hyperwallet’s network of banking relationships across the globe.

After noting that the new development adds to the ways Hyperwallet is supporting the international freelance community, company CEO Brent Warrington said, “Faster, more affordable cross-border disbursements is something we’re very passionate about, and we’re happy to offer that experience to sellers on the Amazon Marketplace.”

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. Since it was founded in 2000, Hyperwallet has distributed billions of dollars in payouts to more than 8 million individuals worldwide. Earlier this year the company bolstered its loyalty program through an integration with Dosh. In January, Hyperwallet expanded to London to support the region’s burgeoning population of gig economy workers.

Finovate Alumni News

On Finovate.com

  • NetGuardians Teams Up with Masaref Business & Systems Consulting.
  • Hyperwallet Now Supports Payouts from Amazon’s Australia Marketplace.
  • Multiple-Time Best of Show Winner Avoka Raises $12 Million in New Funding.

Around the web

  • Fiserv signs agreements with Illinois Educators CU in Illinois and Members Financial FCU in Texas.
  • ABN Amro leverages Matrix from Five Degrees to launch its wealth management solution, Prospery.
  • Overbond appoints George Harrington as new Head of U.S. Business Development.
  • FIS connects Fifth Third Bank customers to The Clearing Houses’ Real-Time Payments system.
  • Kinetica appoints Paul Appleby as CEO.
  • Experian Receives Top Workplace Honor for Fifth Consecutive Year.
  • Technical.ly: Privakey locks down patent for ‘a password-free future.’

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.

FinDEVr APIntelligence

FDNY17-Logo-RevFinDEVr New York will be here in just three short weeks! Check out company features and take a look at the previews from upcoming presentations. And of course, don’t forget to register today to save!

On FinDEVr.com

  • Barclaycard Brings Payment Functionality to Fashion Accessories.
  • NYMBUS Scores with $16 Million Investment Led by Home Credit Group.

Alumni updates

  • Arxan Technologies completes the Federal Information Processing Standard (FIPS) 140-2 validation process from the National Institute of Standards and Technology (NIST).
  • New APIs from Citi to help clients access network with existing treasury applications.
  • Report highlights Nymbus, as a key digital banking player.
  • The Co-operative Group to leverage ACI Worldwide for cloud-based mobile wallet.
  • Lleida.net wins 20-year European patent for its registered email technology.
  • Thomson Reuters enhances data analytics platform with ultra high-speed processing of real-time and historical data functionality.
  • Entersekt announces original equipment manufacturing agreement with transaction processing specialist, Global Kinetic.
  • BBVA to leverage mobile accounting opening technology from Oracle Communications.
  • FinDEVr veteran Hyperwallet adds former SecureNet Payments EVP, Mark Engels, as Chief Revenue Officer.
  • Best of Show winner AutoGravity forges new partnership with Westlake Financial Services to expand financing options for car shoppers.
  • The Paypers interviews Nicole Mantow, General Manager of EVO Payments, parent company of FinDEVr veteran, EVO Snap.

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