Finovate Alumni News

On Finovate.com

On FinDEVr.com

  • Check out our latest FinDEVr Previews featuring ISARA and eSignLive by VASCO.

Around the web

  • TransferWise introduces multi-currency bank accounts for businesses.
  • Langley FCU to deploy Episys core system from Jack Henry & Associates’ Symitar division.
  • Great Southern Bank selects cloud banking technology from nCino.
  • getAbstract and CREALOGIX enter into a digital learning partnership.
  • InComm partners with Sony to deliver gift cards in Hong Kong.
  • NIIT Technologies partners with AI company Arago.
  • AutoGravity receives the 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award.
  • Fiserv launches SecureNow to integrate cybersecurity protection for digital banking.
  • Finextra: ABN Amro selects Fenergo to support KYC.
  • Yandex.Money brings Android Pay to Russia.
  • Misys FusionBanking Essence to power online and mobile banking offering for Crnogorska Komercijalna Banka (CKB).
  • Trustly to power online bank payments at leading online fashion retailer Boozt.com

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.

nCino Helps FIs Benefit from Cloud Banking

nCino_homepage_April2017b

What makes the nCino Bank Operating System the cloud banking solution of choice for a growing number of financial institutions (including “more than 130 FIs of all asset classes and from multiple countries” in the words of nCino CMO Jonathan Rowe)?

As Rowe said during nCino’s live demonstration at FinovateEurope 2017 earlier this year, “with nCino your customers get a transparent, digitally-optimized process, quick access to capital, and a true valued long-term relationship with your financial institution.” And for financial institutions themselves, he added, nCino brings increased loan growth “while lowering costs and increasing productivity and maintaining the highest levels of safety and soundness.”

Pictured (left to right): Jonathan Rowe (Chief Marketing Officer), Trisha Price (EVP, Product Development & Engineering), and  Nathan Snell (Chief Innovation Officer) demonstrating the nCino Bank Operating System at FinovateEurope 2017.

nCino used the example of a bank loan to demonstrate some of the features of the nCino Bank Operating System. Along with Product Development & Engineering EVP Trisha Price and Chief Innovation Officer Nathan Snell, the nCino team showed how a customer could apply for a small business loan using their smartphone, and get an instant real-time decision from the technology’s automated decisioning engine. The demo also showed how the platform provided workarounds like an automated counter offer when an applicant requested a loan amount that was too large. The technology also enables the customer to capture and upload images of documents like financial statements to help customers make the case for a larger loan.

On the bank’s side, the nCino team showed how the platform’s auto decision engine processed online loan applications and can be configured to match the FI’s own credit policies.  And by leveraging both the OCR and AI built into the nCino platform, bank professionals are able to quickly do deeper dives into applicant financials to find opportunities for funding that might have otherwise gone unfunded or cost the borrower more. “This is how banking and technology should work, and does work with nCino,” Rowe said, reminding the audience that nCino’s technology supports not just commercial banking, but also treasury management, and retail and consumer banking, as well.

Since nCino’s Finovate debut in February, the company has announced new enhancements to its platform that make it easier to serve small business borrowers. Named to Planet Compliance’s RegTech Top 100 Power List this spring, nCino partnered with North State Bank in April and teamed up with Valley National Bank in March to power commercial loan operations at both institutions.

Company Facts

  • Founded in 2012
  • Headquartered in Wilmington, North Carolina
  • Raised more than $79 million in capital
  • Works with more than 130 clients
  • Maintains more than 275 employees

We met with the nCino team in London to talk about the company’s debut at FinovateEurope. We followed up with a few questions by e-mail for Nathan Snell, nCino’s Chief Innovation Officer. His responses are below.

Finovate: What problem does your technology solve?

Nathan Snell: nCino is the worldwide leader in cloud banking. Its Bank Operating System, built on the Salesforce platform, enables financial institutions to deliver the speed and digital experience that customers expect, backed by the quality and transparency that bankers need.

nCino’s Bank Operating System acts as a financial institution’s single source of truth, eliminating the need for multiple, disparate software systems by combining customer relationship management (CRM), loan origination, workflow, enterprise content management, business processing and instant reporting all in one secure, cloud-based environment. Sitting alongside the bank’s core, nCino’s Bank Operating System drives increased profitability, productivity gains, regulatory compliance and operating transparency across all business channels and organizational levels. The platform facilitates a seamless and secure interaction between bank employees, customers and other third parties, providing bankers with an efficient and configurable way to digitally operate their institution.

Finovate: Who are your primary customers?

Snell: nCino’s client portfolio consists of more than 130 financial institutions in North America and Europe. Our customers span all asset classes – from $150 million in assets to over $200 billion – and include community and regional banks, credit unions, challenger banks and large enterprise institutions. Because of the flexible and scalable nature of our platform, the Bank Operating System is customizable for any size organization.

Pictured: The nCino Bank Operating System environments displayed on a laptop, a tablet, and a smartphone.

Finovate: How does your technology solve the problem better?

Snell: The nCino Bank Operating System is a comprehensive, end-to-end, cloud-based solution that offers a single platform across all lines of business (commercial, small business, retail), distinguishing us in a market category of our own. nCino was built from day one as an integrated solution on Salesforce’s Force.com platform, the world’s leading cloud computing platform.  Because of how we’ve built the nCino Bank Operating System, it’s also one of the first times a financial institution has a platform that can respond, in a configurable way, to their business needs as quickly as they come up as opposed to being constrained by their platform. While there are other companies that may offer point solutions or software systems that provide certain aspects of our technology, none combine our full spectrum of features and functionality into one cohesive offering.

Designed by bankers who understand the nuances of the marketplace, nCino revolutionizes the way financial institutions operate, helping them regain their competitive advantage and beat alternative lenders at their own game, while simultaneously satisfying customers’ demand for superior service in the digital era.

Finovate: Tell us about your favorite implementation.

Snell: It’s hard to pick a favorite implementation as they are all important; however, one that stands out is our successful implementation last year at SunTrust, a $205 billion-asset institution and a top 10 bank in the U.S. The implementation at SunTrust was a truly collaborative effort consisting of a multi-layered, multifunctional program team that included not only nCino, but also a system integration team from Accenture, and a large operational and technology team from SunTrust.

In less than 18 months, the nCino Bank Operating System was deployed to thousands of SunTrust teammates across sales, risk and lending operations. When asked about the process, Pam Kilday, head of operations for SunTrust, said, “This has been one of the finest implementations that we have had at SunTrust. We are now being looked at as a model of best practices to implement something of this range at SunTrust.”

Pictured: The automated decision engine of the nCino Bank Operating System.

Finovate: What in your background gave you the confidence to tackle this challenge?

Snell: Because nCino was designed specifically by bankers who understand both the challenges and opportunities in the marketplace, nCino is uniquely qualified to deliver a solution that best addresses a financial institution’s needs. In today’s environment, bankers are expected to do more with less, manage regulation, ensure data security, digitally engage with customers to foster stronger relationships, and deliver increased profit to shareholders. And, as customer demands and expectations rapidly evolve and non-traditional third parties enter the scene, the financial services industry is more competitive than ever before. nCino’s Bank Operating System enables a financial institution to improve efficiency, productivity and compliance across numerous departments and business lines, all while creating a more transparent and digitally engaging experience for customers.

Finovate: What are some upcoming initiatives from nCino that we can look forward to over the next few months?

Snell: This year, we’ll continue to expand the scope of the Bank Operating System. In 2016 alone, we added new functionality such as deposit account opening and automated decisioning that extended the platform to other areas of the bank – and that’s just the beginning. With additional functionality across small business lending and retail already in the pipeline, nCino continues to develop technology to help financial institutions save costs and increase productivity while simultaneously protecting their market share against emerging marketplace lenders.

There’s really so much opportunity in the financial services space today, that even beyond the next few months, we have quite a few exciting things planned that we believe will continue to help shape the landscape of banking.

Finovate: Where do you see nCino a year or two from now?

Snell: Over the past five years, we’ve experienced significant growth in our customer portfolio, technology roadmap and employee base – and we expect that growth to continue into the next year and beyond. We look forward to expanding our international presence in the U.K. and Europe, adding fresh talent to our workforce and introducing new and exciting functionality to our Bank Operating System as it touches additional areas of the financial institution.


Trisha Price (EVP, Product Development & Engineering), Nathan Snell (Chief Innovation Office), and Jonathan Rowe (Chief Marketing Officer) demonstrating the nCino Bank Operating System at FinovateEurope 2017.

Finovate Alumni News

On Finovate.com

  • nCino Helps Financial Institutions Benefit from Cloud Banking
  • LendUp Gives the Underbanked What No Traditional Bank Will

On FinDEVr.com

  • Check out this week’s FinDEVr APIntelligence

Around the web

  • BanQu teams up with Eastern Congo Initiative to launch secure data storage network for farmers.
  • TransferWise announces operational profitability and monthly revenues of £8 million.
  • Lighter Capital adds Former Silicon Valley Bank’s Head of Risk, Marc Verissimo, to its Board of Directors
  • Wells Fargo selects Uniken for accelerator program.
  • Wipro launches Nine Solutions to Accelerate Adoption of Blockchain Across Industry Sectors
  • Societe Generale partners with Open Bank Project to launch internal Open Banking Hackathon
  • South Carolina-based Community First Bank hires Insuritas to install and manage insurance agency.

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

  • Vera Announces $15 Million Strategic Investment from Hasso Plattner.
  • Digiliti Money Celebrates Rebrand by Ringing NASDAQ Closing Bell.

Around the web

  • San Francisco Business Times names Blackhawk Network CEO and President, Talbott Roche, an Inspire Award recipient.
  • Baker Hill NextGen to power business intelligence for iQ Credit Union.
  • CrossFirst Bank to leverage nCino’s cloud banking technology.
  • Geezeo launches digital reputation management solution.
  • Kensho launches open source Python package aims to make app configuration easier.
  • Empyr introduces CPR: Cost-Per-Revenue O2O Performance Marketing.
  • Thomson Reuters and S&P Global enter strategic transcript data agreement.
  • Overbond adds swap pricing calculator to its corporate bond intelligence suite.
  • FinovateSpring Best of Show winner Neener Analytics earns finalist spot in Citi Tech for Integrity Challenge.

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

Around the web

  • ProfitStars unveils its CECL DataStore and Validation solution to help FIs meet upcoming compliance deadline.
  • New enhancements to nCino’s Bank Operating System make it easier to serve small business borrowers.
  • iSignthis deploys its Paydentity service to UK-based forex broker, XM.co.uk.
  • Geezeo to power digital financial management for Liberty 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

  • Check out sneak peeks of FinovateSpring demos from MapD, Horizn, Onist, Capitalise, PayNearMe, Baker Hill,  and Moxtra.

Around the web

  • North State Bank leverages nCino’s bank operating system to automate its commercial loan process.
  • Ixaris introduces OPC Live! Innovation Challenge to encourage development of B2B payments technologies.

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

  • Mastercard Adds to Authentication Arsenal with Acquisition of NuData Security.

Around the web

  • Scalable Capital doubles assets in three months.
  • Pindrop’s Security and Authentication Technology Will Be Available With Amazon Connect.
  • HSBC announces fintech partnership with Tradeshift.
  • Xero named a “2017 Top Rated Accounting & Budgeting Software” on TrustRadius.
  • nCino to power commercial lending for Valley National Bank.
  • Iroquois Federal Savings & Loan Association to deploy core processing system from Fiserv.
  • Trustly unveils new solution for recurring payments, Trustly Direct Debit.
  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.
  • Mid-office operations automation from Five Degrees, Matrix, goes live at GarantiBank International.
  • New York-based CFCU Community Credit Union taps Insuritas to install full services insurance agency solution.

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 Alums Populate RegTech Top 100 Power List

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Call it them the Finovate Fifth.

Nearly 20 of the companies highlighted in Planet Compliance’s new RegTech Top 100 Power list – and five of the top ten – are Finovate and/or FinDEVr alums. To measure “power”, Planet Compliance used an algorithm that measured a company’s activity in the media, as well as online and in social media including Facebook, LinkedIn, Twitter, and Wikipedia.

Interestingly, Planet Compliance says it has added a “secret ingredient” to the ranking system. It is also worth noting that their definition of RegTech is broad enough to include not just ID verification/authentications specialists, but biometric security innovators, as well.

So let’s take a look at how Finovate/FinDEVr alums stacked up.

(1) Temenos (FE15, FD15)

  • Founded 1993. Headquartered in Geneva, Switzerland. Market capitalization of $5.63 billion.

Temenos_stage_FD15

Pictured: Aaron Phethean, Marketplace Director for Temenos B2B Financial Services Marketplace, during his FinDEVr Silicon Valley presentation.

(3) Trulioo (FF16, FD14)

  • Founded in 2011. Headquartered in Vancouver, British Columbia, Canada. Raised $23 million in funding.

(5) Qumram (FF16)

  • Founded in 2011. Headquartered in Zurich, Switzerland. Raised $4.5 million in funding.

(8) Socure (FF15)

  • Founded in 2012. Headquartered in New York, New York. Raised $18 million in funding.

(10) Feedzai (FE14)

  • Founded in 2009. Headquartered in San Mateo, California. Raised $26 million in funding.

(11) Ayasdi (FF14)

  • Founded in 2008. Headquartered in Menlo Park, California. Raised $106 million in funding.

(18) NetGuardians SA (FA16)

  • Founded in 2007. Headquartered in Vaud, Switzerland. Raised $5.5 million in funding.

NetGuardians_stage_FA16

Pictured: Mine Fornerod, Net Guardians Digital Marketing Manager, demonstrating FraudGuardian at FinovateAsia 2016.

(19) BioCatch (FF14)

  • Founded in 2011. Headquartered in Tel Aviv, Israel. Raised $11.6 million in funding.

(34) Investglass (FA16)

  • Founded in 2014. Headquartered in Plan-les-ouates, Geneva, Switzerland. Raised $100,000 in funding.

(38) Mitek (FE17, FD15)

  • Founded in 1985. Headquartered in San Diego, California. Market capitalization of $218 million.

Mitek_stage_FE17

Pictured: Sarah Clark (General Manager, Identity, Mitek) demonstrating Mobile Verify at FinovateEurope 2017.

(39) nCino (FE17)

  • Founded in 2012. Headquartered in Wilmington, North Carolina. Raised $64.7 million in funding.

(45) SecureKey (FF12)

  • Founded in 2008. Headquartered in Toronto, Ontario, Canada. Raised $89 million in funding.

(48) Rippleshot (FF14)

  • Founded in 2012. Headquartered in Chicago, Illinois. Raised $4.6 million in funding.

(63) Trunomi (FE15)

  • Founded in 2014. Headquartered in San Jose, California. Raised $6 million in funding.

(66) BehavioSec (FF15, FD15)

  • Founded in 2007. Headquartered in Stockholm, Sweden. Raised $8.2 million in funding.

BehavioSec_stage_FF15

Pictured: Olov Renberg, BehavioSec COO, demonstrating BehavioSec On Demand at FinovateFall 2015.

(76) DemystData (FA12)

  • Founded in 2010. Headquartered in Singapore. Raised $12 million in funding.

(77) Fenergo (FE12)

  • Founded in 2009. Headquartered in Dublin, Ireland. Raised $80 million in funding.

(84) Trustev (FE14)

  • Founded in 2013. Headquartered in Cork, Ireland. Acquired by TransUnion.

(96) Global Debt Registry (FF14)

  • Founded in 2005. Headquartered in Wilmington, Delaware. Raised $7 million in funding.

Stay tuned for more coverage of RegTech and other growing industries within fintech as we begin previewing the presenters of FinovateSpring 2017. Finovate returns to San Jose on April 26 and 27 for our annual spring conference. Visit our registration page today to save your spot.

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Women on the Finovate Stage

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There are plenty of things about fintech worth celebrating, but today, in honor of International Women’s Day, we’re giving three cheers to the women in fintech!

We’re taking a special look at our most recent show, FinovateEurope, where 23% of the presenting companies were represented by a woman on stage. That’s a 50% increase from 2015, where 15% of the companies had female speakers, and a huge leap from our first event in 2007 with zero (see note 1).

So here’s to progress. And here’s to the women of FinovateEurope:

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Avoka

Hali Khan, Director, Business Development

FinovateEurope 2017 demo

 

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Paulina Powązka, Sr. Business Solutions Consultant

FinovateEurope 2017 demo

 

 

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Eszter Vass, Sr. Product Strategy & Presales Consultant

FinovateEurope 2017 demo

 

 

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Reanta Stein, Business Development Director

FinovateEurope 2017 demo

 

 

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Diana Winstanley, Business Developer

FinovateEurope 2017 demo

 

 

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Tinna Hung, Director, Marketing

FinovateEurope 2017 demo

 

 

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Angelique Mohring, CEO & Founder

FinovateEurope 2017 demo

 

 

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Janice Diner, CEO, Founding Partner

FinovateEurope 2017 demo

 

 

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Mariona Campmany, CMO

FinovateEurope 2017 demo

 

 

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Patricia Soares, Business Developer

FinovateEurope 2017 demo

 

 

32818219881_3de81c5c45_kMitek

Sarah Clark, General Manager, Identity

FinovateEurope 2017 demo

 

 

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Trisha Price, EVP, Product Development & Engineering

FinovateEurope 2017 demo

 

 

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Iveta Brūvele, CEO, and Elīna Rasmane, COO

FinovateEurope 2017 demo

 

 

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Märta Viberg, Head of Product & Consumer Risk

FinovateEurope 2017 demo

 

 

32786393702_06824485c4_kWealthify

Michelle Pearce, Co-Founder and Chief Investment Officer

FinovateEurope 2017 demo

 

 

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Vanessa Gatihi, Global Head, Customer Success

FinovateEurope 2017 demo

 

 

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Editor’s Note: While sadly it’s true that no women were on stage during the 20 demos of the first Finovate. One company, iPay Technologies, was founded by Dana Bowers, but she chose not to speak that day. And Finovate might not even exist if it wasn’t for Melanie Flanagan, then Marketing Manager at Yodlee (also co-founded by a woman), who was the first person to agree to demo. Finally, Susan Hawkins, then SVP at Metavante, was instrumental in getting both her company and Monitise on stage. So there you have it, woman called the shots for at least 20% of Finovate v1.0’s content, even if they ended up delegating the on-stage pitching to men. Thanks Melanie, Dana and Susan! — Jim Bruene, Founder

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: AutoGravity Unveils the Future of Auto Financing

Around the web

  • Q2 Holdings launches new targeting and messaging platform, Q2 SMART.
  • Hyperwallet announces new office in London.
  • Bluefin Payment Systems wins patents for a pair of decryption-as-a-service technology.
  • Axis Bank reports plan to be the first Indian bank to use Ripple technology for cross-border payments.
  • Garrett Planning Network partners with RightCapital to offer advisors access to financial planning software.
  • nCino ends 2016 with 130+ financial institutions in its portfolio. Come see them at FinovateEurope next month.
  • NIIT Technologies deploys BankingEasy, its Core Banking Solution on Microsoft’s Azure platform.
  • Larky shows strong growth into 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.