Finovate Alumni News

On Finovate.com

  • ACH Alert Reports Record Growth, Stops More than $388 Million in Fraudulent Transactions.
  • Mastercard Teams Up with Worldpay to Launch Pay by Bank in the U.K.

Around the web

  • NetGuardians becomes a certified Avaloq software partner for real-time fraud prevention.
  • Temenos inks multi-year investor servicing contract with Northern Trust.
  • Worldline picks up PISP and AISP licenses from National Bank of Belgium.
  • Enveil earns Standard Technology Partner status in Amazon Web Services partner network.
  • Lleida.net credits new GDPR legislation in the EU for surge in sales for first half of 2018.
  • Equifax acquires specialty credit reporting agency DataX.
  • CFE Federal Credit Union implements Larky’s Engagement Platform.
  • Ledger launches Ledger Live, the all-in-one companion app to your Ledger device.
  • Xero integrates with BBVA’s API Market for small businesses.
  • Lendio expands the Lendio franchise in Rochester, New York.

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

  • BlueRush’s IndiVideo to Boost Customer Engagement for Meridian Credit Union.
  • Tradeshift Collaborates with MakerDAO on Blockchain Payments.
  • Azimo Adds 10 Countries for Nordic Users.

Around the web

  • Inc. talks to Kabbage about why its holding off on an IPO.
  • Lendio has helped facilitate nearly $120 million in growth capital through 5,000 loans to small businesses in California to date.

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

  • KeyBank Acquires Small Business Lending Platform Bolstr.

Around the web

  • Threat detection specialist Zighra announces support for FIDO authentication.
  • BBVA and energy company Repsol collaborate to develop blockchain-based financial products.
  • Etsy partners with Klarna, bringing new payment options to its German website and app.
  • IdentityMind Global inks licensing agreement with KYC2020.
  • Insuritas to launch member-owned insurance agency for Financial Resources FCU.
  • Streamdata.io unveils its API Gallery featuring more than 360 different entities with 14,400+ API paths spanning 420 topics.
  • Interactions wins Customer Contact Week ‘Omnichannel Provider of the Year’ award.
  • Dashlane reaches 10 million users around the globe.
  • WorkFusion wins Awards for Best Application of AI in Financial Services.
  • Lendio’s employee contribution program has funded 2,800 loans in 78 countries through Kiva.
  • Gusto’s Flexible Pay lets employees choose their own payday.

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

  • InComm launches health plan-sponsored first years wellness card to support babies’ well being.
  • Payworks introduces P2PE component services for payment providers.
  • Coinone Transfer joins Ripple’s RippleNet to enhance cross-border payments.
  • Navigant and Ayasdi collaborate to deploy machine intelligence to effectively and efficiently detect and deter financial crime.
  • INV Fintech collaborates with the Open Bank Project to offer sandbox APIs.
  • Lendio announces franchise in Broomfield, Colorado.
  • Token granted FCA authorization for open banking payment and information 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.

Lendio Launches Lender Turndown Program

Small business loan marketplace Lendio is helping lenders turn a negative response into a positive one through the unveiling of its Lender Turndown program this week.

With the new program, Lendio’s network of lending partners can offer a loan alternative, instead of an absolute rejection, to small businesses that do not fit their risk profile. Through their partnership with Lendio, lending partners will offer small business borrowers access to Lendio’s marketplace, where more than 75 lenders can offer an alternative source of funding. The program, which has already provided more than $60 million in funding to small businesses, has 20 lending partners, with new partners being added every month.

“We are excited about the rapid growth of this program,” said Jim Granat, President of Lendio. “We are seeing an increase of lending partners joining the turndown platform because it allows them to turn an application decision from a ‘no’ into a ‘yes.’ Working closely with our trusted lending partners to provide additional funding options shows their commitment to customer satisfaction; it’s a great way for us to partner in helping main street get much-needed access to capital.”

Lendio showcased its marketplace at FinovateSpring 2011. The company’s average loan size is just under $27,000 and Lendio reports that 70% of businesses received the funds they requested within five days of submitting an application. The top business categories funded on Lendio’s marketplace include construction, restaurants, retail, healthcare, and manufacturing.

Last summer, the company surpassed the milestone of matching small business borrowers with more than $500 million in loans on its platform. For every loan it facilitates, Lendio donates a percentage of the funds to low-income entrepreneurs through Lendio Gives, an employee contribution and employer matching program.

Finovate Alumni News

On Finovate.com

  • Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round.

Around the web

  • West Virginia city Beckley introduces mobile parking app, Passport Parking, powered by Passport.
  • Diginomica features Temenos CTO Dharmesh Mistry in discussion on the importance of core banking renewal.
  • Darwinex launches new performance fee structure, Darwinian Dividends.
  • Lendio opens franchise in Charlotte, North Carolina.
  • The Paypers interviews BioCatch VP, Frances Zelazny.
  • Business News Daily profiles Palo Alto Software’s LivePlan.
  • Enveil wins Cybersecurity Innovator of the Year and Best of Howard County at Maryland Cyber Awards 2018.
  • Sberbank acquires 60% stake in dialog enterprise corporate messenger developer, Dialog.

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 the web

  • Bankjoy Signs Credit Union of Ohio.

Around the web

  • Digital Signage Pulse interviews Neustar’s Kathleen Dundas about the company’s expansion to the digital-out-of-home (DOOH) market.
  • Lendio franchise announced in Seattle Central region.
  • PYMNTS talks to Modo CEO Bruce Parker about payments in the 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.

Finovate Alumni News

On Finovate.com

  • SME Financing Meets Cross-Border Payments as BlueVine Partners with Veem.
  • Experian Acquires ClearScore for $385 Million.
  • Pindrop Partners with Voice Solutions Provider Aeriandi.

Around the web

  • Ethoca launches Integrated Solution suite to eradicate chargebacks.
  • Revolut launches direct debits in Europe.
  • PayU, Kreditech to offer cardless EMI option of Rs 1 lakh for online purchases.
  • Lendio franchise announced in South Charlotte region.

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

  • Best of Show winner Clinc launches Spotlight, the first self-service training program for conversational AI.
  • Cloud Lending Solutions recognized as a Top 10 Best Performing Salesforce Solution Provider for 2017 by Insight Success Magazine.
  • Ohpen Angelique Schouten named Chief Commercial Officer; Lydia van de Voort appointed to U.K. CEO post.
  • Auto financing offers from Santander Consumer USA now available on the AutoGravity app.
  • Pushfor wins public vote at inaugural Dublin Innovation Jam.
  • Members Heritage Credit Union launches member-owned insurance agency in partnership with Insuritas.
  • Lendio introduces new franchise in Gainesville-Ocala Florida region.

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

  • Opentech ranked third in the Mastercard’s worldwide Directory of Digital Wallet providers. Come see Opentech’s live demo at FinovateEurope next week.
  • Yoyo named Best Mobile Payment Solution at MPE Awards. Come see Yoyo’s demo at FinovateEurope next week in London.
  • CapitaWorld launches smart loan disintermediation ecosystem for micro, small, and medium (MSM) enterprises.
  • Unison launches 5% down payment program in conjunction with an 80% LTV mortgage.
  • Sberbank adds Google Pay and Samsung Pay services for the customers using its business cards.
  • Railsbank partners with Carta Worldwide.
  • Lendio Franchise Announced in Clemson Region.

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.