FinDEVr APIntelligence

We saw some great stuff at FinDEVr New York last week; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

Alumni updates

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.
  • BBVA among the latest companies to join Hyperledger.
  • MasterCard introduces new fraud detection solution, Decision Intelligence.
  • Credit Donkey lists StockTwitsDriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Forrester recognizes FinDEVr newcomer Outsystems as a leader in low-code development platforms.
  • E-commerce services from Vantiv achieve Oracle Validate Integration. Video of Vantiv’s FinDEVr 2017 New York presentation will be available soon.
  • VISA to enable electronic business payments for SME clients of B2B electronic invoicing network, Viewpost.
  • Fiserv reports nearly 30 banks and CUs deployed its digital banking technology in 2016, taking the total number of FIs using its online banking solutions to 3,500.

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

Finovate Alumni News

On Finovate.com:

  • Twitter Talk from FinDEVr 2017 New York.

Around the web

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Credit Donkey lists StockTwits, TradeKing, SigFig, DriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub. Video of IBM’s FinDEVr 2017 New York presentation last week will available soon in our video archives.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.

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

  • Celebrate the Start of Spring with the Return of FinDEVr New York.
  • Sentifi Brings Market Insights from Social Media to Bombay Stock Exchange.

Around the web

  • SecureKey and IBM team up to develop digital identity and attribute sharing network using blockchain technology.
  • MarketInvoice announces Zopa co-founder and former CEO Giles Andrews as new board chairman.
  • Ripple joins Bank of England fintech accelerator program to demo blockchain solutions for cross-border payment and settlement.

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

Around the web

  • Youth savings specialist Virtual Piggy rebrands as REGO Payment Architectures.
  • IBM provides blockchain support for Singapore fintech, Invictus.
  • Qumram wins Growth Stage Startup of the Year at Swiss FinTech Awards 2017.
  • Tradeshift brings on David Ahrens as its new chief marketing officer.

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 two 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

  • Envestnet | Yodlee Launches Suite of Risk Reporting Tools.
  • PwC Brings Blockchain PoC to London’s Specialty Insurers
  • Shwayhat Steps Up: GreenKey Technologies Announces New CEO
  • Scotiabank and AlphaPoint Wrap Up Blockchain Trial
  • Check out these previews from upcoming FinDEVr New York presentations:

Alumni updates

  • BBVA Compass adds cash-back incentive to stimulate interest in mobile banking app.
  • OutsideIQ teams up with Genpact to bring better risk management, KYC, and AML compliance solutions to banks.
  • Bluefin Payment Systems joins forces with The Pinnacle Corporation, bringing point-to-point encryption (P2PE to the latter’s Palm POS platform.
  • Top 10 global bank deploys mobile capture technology from Kofax.
  • IBM forges strategic partnership with Salesforce, connecting AI platforms IBM Watson and Salesforce Einstein.
  • Arxan Application Protection named Best IoT product at the 2017 Cybersecurity Excellence Awards.
  • Kontomatik nominated at the Dutch FinTech Awards 2017.
  • Mambu goes live in the Americas with new offices in Miami and new regional managing director.
  • PayPal partners with Oro ecommerce platform.
  • UK food retailer, The Co-operative Group chooses ACI Worldwide to run wallet service.
  • Palestine’s The National Bank deploys core banking technology from Temenos.
  • Dallas News features Bruce Parker, founder and CEO of ModoPayments.

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

Finovate Alumni News

On Finovate.com

  • FundAmerica Unveils New RegTech Tools.
  • Qapital Raises $12 Million, Adds Debit Card Functionality

On FinDEVr.com

  • Check out these previews from upcoming FinDEVr New York presentations:

Around the web

  • OutsideIQ teams up with Genpact to bring better risk management, KYC, and AML compliance solutions to banks.
  • Ixaris Technologies unveils its Open Payments Cloud platform for developers at upcoming hackathon.
  • Top 10 global bank deploys mobile capture technology from Kofax.
  • IBM forges strategic partnership with Salesforce, connecting AI platforms IBM Watson and Salesforce Einstein.
  • Bluefin Payment Systems joins forces with The Pinnacle Corporation, bringing point-to-point encryption (P2PE to the latter’s Palm POS platform.
  • CB Insights lists NetGuardians on the regtech map.
  • WeInvest piloting roboadvisory service with OCBC Bank.
  • eWise to power customer loyalty app for Gini.

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-Rev

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.

Finovate Alumni News

On Finovate

  • Rippleshot Racks Up $2.6 Million in Second Seed Round.

Around the web

  • Wave to offer OnDeck business loans and lines of credit courtesy of new partnership.
  • Poland’s Alior Bank ($15 billion USD) to deploy FusionCapital from Misys.
  • UK-based Revolut launches new customer service chatbot, Rita – “Revolut’s Intelligent Troubleshooting Assistant.”
  • IBM leverages Hyperledger Fabric to support a trade finance-oriented blockchain project in Dubai.
  • Fiserv wins inaugural Technology Association of Georgia (TAG) Fintech ADVANCE Award for its Verifast palm authentication 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

  • New Robo Fund from LendingRobot Leverages Automation and the Blockchain.
  • Insuritas’ Growth Scales with the Popularity of Insurtech.
  • Wipro Agrees to Acquire InfoSERVER for $8.7 Million

Around the web

  • G2Crowd lists eSignLive as the top eSignature product for mid-market. Come see eSignLive’s demo at FinovateEurope Feb 7 & 8.
  • Blackhawk Network’s customer experience insights featured in Loyalty360.
  • Misys to offer peer lending technology to help banks compete with P2P startups.
  • Thomson Reuters introduces new end-to-end, compliance dashboard, Regulatory Change Management.
  • IBM Security announces plan to acquire business data risk management specialist, Agile 3 Solutions.

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.

Fintech Trending: Blockchain Building Blocks for 2017

Photo via Good Free Photos
Photo via Good Free Photos

What blockchain trends from 2016 are worth watching for follow-through in 2017? Here are five blockchain players to keep an eye on as the new year begins.

IBM: Something Old, Something New, Something Blue

It is remarkable that a company that is more than 100 years old (“International Business Machines”) is one of the leading innovators when it comes to the blockchain. But IBM (FD16) began 2016 by introducing its strategy to offer cloud-based products and services for business via blockchain technology. IBM’s “blockchain-as-a-service” strategy incorporates many of the company’s core technology projects including its Watson Internet of Things platform and its development lab, Bluemix Garage – as well as its core IT system for global banks, IBM z System. IBM’s blockchain strategy also includes its participation in the open source, Linux-driven Hyperledger Project (demonstrated at FinDEVr). Just this week, a commodity trading and agribusiness software provider, The Seam, that has “cleared or processed” $7 billion, announced it would be joining IBM’s blockchain consortium.

Blockchain_IBM

IBM is not the only major technology company to pursue the blockchain-as-a-service model. Microsoft, which launched a blockchain sandbox in October 2015, partnered with Ethereum collective, ConsenSys to give its enterprise clients access to an Ethereum blockchain-as-a-service network. This will enable business users of Microsoft’s Azure to easily build and deploy “private and semi-private or consortium blockchain networks.” Note also that Microsoft partnered with AMIS to launch Asia’s first blockchain consortium in December.

That said, IBM distinguishes itself from Microsoft’s efforts by being fairly IBM-centric in its offering. Jerry Cuomo, IBM VP of blockchain technology, told CoinDesk: “What we’re doing is we’re picking a specific fabric and a specific point of view. We’re not interested in any fabric,” Cuomo explained, “we’re interested in one that can support business applications. We’re a bit more opinionated on what fabric is needed.”

International Business Machines, indeed.

And when it comes to ascertaining the appetite for blockchain, IBM has done its homework. In a survey of 200 banks, IBM learned that 65% of respondents “plan to have projects in production” in the next three years. Areas of focus include clearing and settlement, wholesale payments, equity and debt issuance, and reference data. Respondents to a different survey of 200 global FIs revealed that 14% planned to deploy commercial blockchain products in 2017.

Ripple Rolls On with Big Investment, New CEO

Among blockchain startups, Ripple (FS13) has been a key player in helping FIs leverage its technology to build blockchain networks. The company announced a partnership with leading corporate Nordic bank SEB late in 2016 to build an “internal, closed blockchain” that will enable the bank to transfer money in real time between accounts in New York and Stockholm. Ripple is also involved in India’s Axis Bank and it plans to use Ripple’s network for real-time settlement of cross-border transactions.

Blockchain_Ripple

2016 was a major year for Ripple. The company announced a number of new additions – including Santander, UBS, CIBC, and Standard Chartered – to its global network. Ripple’s network now includes 15 of the top 50 global banks as well as “10 banks in commercial deal phases, and over 30 bank pilots completed.” Ripple’s digital currency, XRP, was part of blockchain consortium, R3’s 12-bank cross-border payments trial in October. The company picked up $55 million in Series B funding in September, taking Ripple’s total capital to more than $93 million. Ripple also appointed a new CEO, Brad Garlinghouse, who has previously served as the company’s president and COO.

“The continued growth of the Ripple network represents a major endorsement of our open approach to connecting the world’s bank and their customers,” Ripple co-founder and former CEO Chris Larsen said. Larsen, who will transition to the role of Ripple chairman of the board at the beginning of 2017, added: “Together we are building a modern payments system to enable new economic opportunities and the seamless flow of value around the world.”

R3: Are Blockchain-Curious Banks Stronger Together?

One way to measure the progress of blockchain technology is by keeping track of the comings (and goings) of members of R3, the world’s largest blockchain-based cooperative. Founded in 2014 and with more than 70 of the world’s largest FIs onboard, R3 is designed to conduct research on and promote the use of blockchain technology in financial services. R3’s biggest contribution to date is Corda, an open-source distributed ledger platform that, while maintaining many of the characteristics of blockchain technology, is not – technically speaking – a blockchain.

Blockchain_R3

Unfortunately, many of the headlines R3 made in 2016 involved a handful of founding members – including Morgan Stanley, Santander, and Goldman Sachs – leaving the cooperative. Specific reasons for leaving the group were typically not provided, though each bank made it clear that the decision was not a reflection on their interest in blockchain technology. Many observers have speculated that the timing of the departures was related to issues surrounding R3’s fundraising efforts, as well as concerns about the growth of the cooperative itself (currently at more than 70 members). Speaking to the departures at Disrupt London in December, R3 founder and CEO David Rutter pointed to the difficulty of “meet(ing) everyone’s criteria” in an organization the size of R3. To the fundraising concerns, Rutter affirmed R3’s “very good progress” toward completing a $150 million funding round.

Beyond the Banks: Card Companies, Payments and Blockchain

One interesting place to keep an eye on for blockchain-related developments in 2017 is among non-bank financial players like the card companies. Visa (FD14), for example, unveiled a blockchain based payments platform, Visa B2B Connect, in partnership with Chain (FD15) in 2016. The technology, designed to provide “near real-time transactions” for high value international payments, will undergo testing this year.

Meanwhile, Mastercard (F14; FD14) has responded to its rival’s challenge by adding blockchain-based APIs to its app developer’s platform, MasterCard Developers. The APIs include a Blockchain Core API, a Smart Contracts API, and a Fast Pay Network API. Mastercard says its APIs, among other things, will help developers build tools to take counterparty risk and costs from transaction flow, as well as improve processing audibility and client privacy.

Is a Bull Market in Bitcoin a Boon for the Blockchain?

With bitcoin closing 2016 with a return to its highest level in years, it is little surprise the cryptocurrency is finding its way into the hearts and minds of investors seeking uncorrelated assets to diversify their portfolios. In “Bitcoin Investing: Where Wall Street and Silicon Valley Meet,” Chris Burniske and Adam White make the case for bitcoin as an asset class for long-term investors based on the currency’s declining volatility, reward-vs-risk, and lack of correlation with most other markets including gold, U.S. real estate, and U.S. equities since 2011. Whether growing interest in bitcoin ends up contributing to (or at least correlating with) increased interest in the technology that makes the digital currency possible will be one of the big questions of 2017, as well.