Finovate Alumni News

On Finovate.com

  • NuCypher Raises $4.3 Million from Token Sale and VC Funds
  • Simility Adds PayPal as Strategic Investor in Latest $17.5 Million Fundraising

Around the web:

  • INETCO adds centralized switch application performance monitoring capabilities within the INETCO Insight software platform.
  • CFCU Community Credit Union Selects nCino to Boost Operational Efficiencies.
  • Blackhawk’s CashStar powers the launch of enhanced consumer gift card ecommerce program for Chico’s FAS
  • Tuition.io to power Student Loan Debt Reduction benefit to their Educational Assistance Program for MidWestOne Financial Group.
  • VentureBurn lists Entersekt as 1 of 8 12 South African startups to watch in 2018.
  • Vanguard turns to Symbiont smart contracts to simplify index data sharing process.

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.

Finovate Alumni News

On Finovate.com

  • “Shoeboxed Partners with ScanSnap Cloud for Receipt Scanning”
  • “Finovate Debuts: Race Data Helps Community Banks Turn Customer Data into Market Intelligence”
  • “Opentech Teams Up with MasterCard, Swiss Bankers to Launch Card Management App”
  • “HelloWallet Launches Savings and Debt Guidance Tool”
  • “Kasasa Reaches One Millionth Account”
  • Check out this week’s FinDEVr APIntelligence

Around the web

  • Fiserv announces its new biometric authentication solution, Verifast: Palm Authentication.
  • Markit to provide fixed income pricing data and liquidity metrics for the European Commission.
  • INETCO to power real-time transaction monitoring for Turkey’s Central Processor for Bank Payment Cards, Bankalararasi Kart Merkezi (BKM).
  • ThinkAdvisor looks at how Blackrock is taking on Schwab and Vanguard with FutureAdvisor.
  • ebankIT expands its headquarters facilities in Porto to grow R&D team.
  • Corezoid moves platform-as-a-service core banking engine to AWS.
  • Blackhawk Network Appoints Sachin Dhawan as CTO and SVP.
  • PCWorld votes Xero as its top-choice accounting software in 2016.

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.

 

Fiserv and INETCO Team Up to Enhance ATM Management

FiservHomepage

Financial services giant Fiserv and transaction monitoring and analytics provider INETCO announced a partnership today that will benefit both parties.

Wisconsin-based Fiserv will act as a reseller for INETCO’s Insight and Analytics solutions, offering the products to ATM and self-service operators. INETCO, in turn, will integrate its real-time transaction data and analytics content into Fiserv’s Device Manager monitoring solution.

inetcoHomepage

Incorporating INETCO’s data analytics into Fiserv’s Device Manager solution will help ATM network managers increase the availability of devices and number of successful transactions by improving fault management, service management and troubleshooting. Additionally, the alerts offer managers visibility into transaction activity and the availability of currency across their network.

INETCO’s Marc Borbas, VP product marketing, and CFO Dallas Pretty debuted INETCO Analytics at FinovateSpring 2015. Last month BECU won the 2016 Celent Model Bank award in part for its INETCO-powered transaction-data streaming and transaction-analytics capabilities.

Fiserv showed off Mobiliti Enterprise at FinovateFall 2015 in New York and will debut its latest set of tools next week at FinovateSpring in San Jose. There’s still time to register—but hurry, there’s not much time left.

Finovate Alumni News

On Finovate.com

  • “Zooz Raises $24 Million in its Largest Funding”
  • “Fiserv and INETCO Team Up to Enhance ATM Management”

On FinDEVr.com

  • “What’s in a Name? Plaid Earns “Cool Vendor” Status from Gartner”

Around the web

  • U.K.’s oldest bank, C. Hoare & Co, goes digital with Backbase.
  • “Crowdfund Insider: CAN Capital Forms Agreement with Entrepreneur to Provide SME Loans”
  • Huffington Post names Tactile Finance on its list of 15 women-led startups to watch in 2016.
  • Qumram opens offices in London and San Francisco. See Qumram at FinovateSpring in San Jose next week.
  • Core banking solutions from Wipro to power Paytm’s new payments bank.

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

  • Where are they now? A look at FinovateSpring 2015 Best of Show Winner Successes.
  • “PayPal Marks U.K. Rollout of PayPal Credit with Interest-Free Financing”

On FinDEVr.com

  • “FICO Launches Score Simulator, Adds New CIO Claus Moldt”

Around the web

  • ebankIT shares top honors with Kerv at Temenos Innovation Jam.
  • Top Image Systems inks $115,000 accounts-payable deal with unnamed U.S. technology company.
  • Xceed FCU transitions to Fiserv-hosted DNA account-processing platform.
  • INETCO powers BECU’s omnichannel monitoring and analytics solutions that won the Celent Model Bank Award in the omnichannel category.
  • Red Herring Europe names Featurespace a Top 100 company.
  • Backbase powers Altyn-i, a new digital bank in Kazakhstan.
  • “Signifyd Launches Fraud Protection App for Magento Marketplace”

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

  • “Finovate Debuts: OutsideIQ Heralds a Revolution in Due Diligence with DDIQ for Onboarding”
  • “Stephen Ritter Joins Mitek as Chief Technology Officer”
  • “Kreditech Lands $11 Million to Close Series C Round of $103 Million”
  • “Finovate Debuts: Valuto’s Open API Offers Multi-Currency Accounts”

On FinDEVr.com

  • “Destination FinDEVr: A Geography of Architects, Builders, and Engineers”

Around the web

  • CU Anytime to deploy channel management software solution from NCR and INETCO.
  • Let’s Talk Payments features Temenos, Strands, NYMBUS, and Infosys Finacle in a look at banking software companies. See NYMBUS at FinDEVr New York next week.
  • Entrust Datacard and Trend Micro team up to provide businesses with better data encryption and authentication technology.
  • American Banker features StreetShares.
  • Xerox and Tradeshift partner to deliver digital procurement and accounts payable 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 Debuts: INETCO Analytics Helps FIs Leverage Transaction Data

INETCO_homepage_Aug2015

For financial institutions, there may be no more valuable information than real-time transaction data. And that may be why a company like INETCO, which has competed in more than one tech-rodeo since its 1984 founding, has developed technology to put real-time transaction data right where bank CMOs want and need it.

“Often this kind of software is very general,” INETCO’s VP of Product Marketing Marc Borbas explained to me in a conversation during FinovateSpring 2015 in San Jose. “We flipped that on its head. ‘You’re a channel manager,’ we asked. ‘How do we provide you with the things you need to do well?'”

INETCO_stage_FS2015

From left: Dallas Pretty, CFO, and Marc Borbas, vice president of product marketing, demonstrated INETCO Analytics at FinovateSpring 2015 in San Jose.

INETCO demonstrated its solution, INETCO Analytics, in its Finovate debut in San Jose, Calif., this past spring. The technology has been on the market since January 2015, and it functions as a self-service analytics application for channel managers. The ATM deployment of the technology was on display in San Jose, but Borbas says that other channels are just a matter of time. The point, he emphasized, was the fundamental shift away from focus on the device (i.e., the ATM, the POS terminal), and more focus on the customer and their actual interaction with the network.

“We ask all these questions about what the device is doing, whether it has paper, whether it has cash, how available it is,” Borbas said. “What if we looked instead at how customers are actually using it? And what if we did this not just for the ATM channel, but for any channel, mobile, online, branch, IVR, you name it … that’s what we’re doing with INETCO Analytics.”

Company facts:

  • INETCO was founded in June 1984
  • Headquartered in Burnaby, British Columbia, Canada
  • Produced more than 100% revenue growth annually since 2012
  • Serves more than 150 banking, retail, telecommunications, and payment-processing customers in more than 50 countries.
  • Bijan Sanii is CEO

How it works

The special sauce at the heart of INETCO Analytics is how the technology is able to pull transaction data from the network, and the plaform’s ability to package that data into “role-specific” solutions. INETCO manages to pull this off with a patented set of technologies (seven of them, to be specific) that do not rely on agents on the ATM—no changes to the transaction switch or host, no data warehouse or data mart in the FIs environment is touched.

“What’s nice is that you don’t have to change your app,” Borbas said. “It’s a very light way to get at that data.”

INETCO_Art1

INETCO Analytics currently provides ATM content managers with essential information about where their customers are, which ATMs are being used most frequently and when, whether there are competing ATMs in the area, and more. The technology even lets channel managers know who their best customers are, as revealed by ATM-usage data, at least, as well as cash-utilization rates and levels.

“You can see if there are cash dispensers, or other banks, and use that to refine your placement strategy,” Borbas said. He also talked about how the solution could help ATM channel managers see just how efficiently their machines are working. “When you run a large ATM estate,” he explained, “you want to know where do you have lineups building, where are you disappointing customers, where is someone hitting the end of a queue and leaving because they don’t want to do business with you.”

Borbas says INETCO can see the transactions not only as they happen, but also how frequently those transactions occur. “It’s the next best thing to having a college intern sitting by the machine watching people go by,” he says.

INETCO_Art2

INETCO’s role in bringing big (transaction) data to banks comes after three decades of experience producing network software. Borbas said while building network software has been good for the company, there was a realization that much might be gained by turning the equation around.

“IT people were saying that the transaction data flowing through the channel would be valuable to marketing folks,” Borbas said. So now, instead of focusing on software that runs networks, INETCO is making sure the “network is monitoring the software.”

The future

INETCO has had a busy 2015. In addition to launching Analytics at the beginning of the year, and demonstrating the technology at Finovate in the spring, INETCO in May forged a partnership with Mexico’s Edenred, a corporate services provider with more than 2 million users, and inked a deal with BECU (Boeing Employees Credit Union; $12 billion in assets) to deploy its Analytics platform with the 850,000+ member credit union.

“It’s no secret that omnichannel is big with bankers,” Borbas said, adding that the next step for INETCO Analytics will be to take the technology beyond ATMS to channels such as mobile and POS. He says that 2015 is an ideal time for the channel expansion, and that it’s “just a matter of deciding which one.”

INETCO_Art3

INETCO will be guided by what Borbas called “the pain-point story.” The company made the bet that somewhere in the bank the data exists and that it’s just hard to get. The issues with ATMs in terms of time lags made it a first choice, but the company is looking for the next best way to deploy the technology. “Who is going through the most pain to get the information they need?” Borbas said, framing the question. “We have the aspirin.”


Check out the FinovateSpring 2015 demo video for INETCO below.

Finovate Alumni News

On Finovate.com

  • “FinDEVr Alums Featured Among Top Hackathon APIs”

Around the web

  • New partnership gives Lending Tree customers access to financing solutions, line-of-credit products from Dealstruck.
  • Backbase named “most visionary” in Gartner Magic Quadrant for Mobile Application Development Platforms.
  • Chris Skinner interviews Giles Andrews, Zopa CEO and co-founder.
  • INETCO Insight and Analytics help BECU win finalist spot in BAI-Infosys Finacle Global Banking Innovation 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.

Celebrate Canada Day with Our Alums from the Great White North

CanadaDay_cupcakes

July 1st is Canada Day, the day Canadians from Nova Scotia to British Columbia and all the provinces in between celebrate the day the country we know as “Canada” was officially formed as a single nation within the British Empire.

So if you’ve got room in your schedule for one more Canada Day Celebration, then please join us in spending a little time celebrating with a score of Finovate alums that are driving fintech innovation in and out of “the Great White North.”

And a special Canada Day shout-out to Finovate partner, the Canadian Trade Commissioner Service, which supports Canadian startups through mentorship and access to U.S. partners and investors.