Finovate Alumni News

On Finovate.com

  • Baker Hill Inks Loan Origination Deal with West Texas State Bank.
  • Finicity and Cre8tech Labs’ Lender Price Partner to Streamline Digital Lending.

Around the web

  • LendInvest partners with Onfido to bring identity verification to LendInvest’s Buy-to-Let digital applications.
  • Malauzai and Somerset Trust Company declare August 20th as National Fintech Day.
  • Thomson Reuters launches Compliance Management solution, an addition to its Connected Risk platform.
  • Ripple announces the transition of David Schwartz from Chief Cryptographer to Chief Technical Officer.
  • Identity verification startup Sedicii earns a finalist spot in BBVA’s Open Talent competition.
  • Barclays to deploy Finastra’s Fusion Loan IQ system.
  • AlphaPoint wins Best Distributed Ledger Technology Provider by the 2018 Water Technology customer survey.

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

  • Best of Show Winner Bambu Raises $3 Million in Series A.
  • Bill.com Launches International Business Payments.

Around the web

  • Onfido to provide identity verification for HBUS, the strategic partner of cryptocurrency exchange Huobi.
  • Jack Henry migrates 66 FIs to its JHA Card Processing Solutions.
  • Avaloq to help U.K.-based financial services firm Smith & Williamson deliver investment management services to clients.
  • PYMNTS.com looks at Emailage and its expansion into the Canadian market.
  • Jumio and Backbase partner to improve customer onboarding with online identity verification 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

  • Trusted Key Raises $3 Million for Passwordless Authentication.
  • Student Loan Genius Picks Up $4.7 Million in New Funding.

Around the web

  • Argentine prepaid services provider Nubi partners with Mambu.
  • Mitek to provide KYC for cryptocurrency broker BTCDirect.
  • Flywire and Billtrust collaborate to improve cross border accounts receivable for Billtrust customers.
  • BioCatch offers its behavioral biometrics solution as an integrated module to the ForgeRock platform.
  • Personal Capital partners with benefits firm Alight Solutions and asset manager AllianceBernstein.
  • OurCrowd is set to hit $1 billion in crowdfunded assets in 2018.

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

  • BillShark Lands Funding and Advisory Backing from Mark Cuban.
  • Revolut Unveils New Savings Solution, Vaults.

Around the web

  • Openbank, Santander Group’s digital bank, to deploy WealthSuite from Temenos.
  • The Victory Bank chooses ProfitStarsCommercial Lending Center Suite to support commercial loan growth.
  • Identity verification provider Onfido names David Clarke as new CFO.
  • First National Bank of Eagle Lake in Texas partners with Insuritas to launch bank-owned insurance agency.
  • NTT Data announces successful completion of PoC data analysis trial for Bank of England, Join NTT Data at FinovateSpring, May 8-11.
  • CAN Capital hires Tom Davidson as Chief Financial Officer.
  • Entrust Datacard’s IntelliTrust Authentication Solution wins Frost & Sullivan’s 2018 North American Technology Leadership Award.
  • TechCrunch: Twilio’s wireless platform hits general availability.

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.

Onfido to Power ID Verification for SnappCar

Digital identity verification company Onfido has teamed up with Snappcar to verify the identities of the Dutch car-sharing company’s users in The Netherlands, Denmark, Sweden, and Germany.

Snappcar currently has 400,000 users across Europe, and is looking to Onfido, which accepts 600 document types across 192 territories, to validate customer identities as it expands into other geographical regions. Onfido will help quickly and efficiently onboard new users, who will be required to upload a picture of their identity document, along with a selfie to join Snappcar.

In a statement, Erica Rasch, SnappCar Product Owner said that Onfido “improves the speed of [SnappCar’s] identity verification process.” She added, “They enable us to be much more flexible in adapting the verification criteria, which means a better verification experience for our international user base.”

Snappcar joins Onfido’s other clients in the P2P car-sharing industry, including Drivy, BlaBlaCar, EasyCar, and Turo.

Founded in 2012, Onfido has received more than $30 million in funding from investors including Salesforce Ventures and Idinvest Partners. The company provides identity checks in 195 countries for 1,500 customers across the globe. At FinovateEurope last week, Onfido demoed how it conducts a facial verification check with video (the demo video will be available next week.) Husayn Kassai is CEO.

Finovate Alumni News

On Finovate.com

  • Gusto Goes Freemium.
  • Onfido to Power ID Verification for SnappCar.

Around the web

  • Tradeshift partners with Canon Business Process Services to enable clients to digitize their supply chain.
  • Ayondo to list on Singapore Exchange.
  • TD Finance announces partnership with auto shopping and financing innovator, AutoGravity.
  • Jumio brings KYC, AML, onboarding support to crypto platform, Monaco.
  • Money.pl looks at the number of Polish companies that demoed at FinovateEurope 2018 this month.

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.

FinovateEurope Sneak Peek: Onfido

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

Onfido uses machine learning to help over 1,500 global businesses verify the identities of their customers using just a picture of an ID card and a selfie video.

Features

  • The most sophisticated anti-spoofing technology on the market
  • Users perform randomised actions to gain access to online services
  • Businesses can onboard at scale while minimizing risk

Why it’s great
Onfido’s Facial Check with Video is the market’s most robust liveness detection, helping prevent identity fraud and enabling online businesses to scale.

Presenters

Husayn Kassai, CEO & Co-Founder
Kassai is the CEO and co-founder of Onfido. He was named one of Forbes’ 30 Under 30 in 2016, and currently sits on the All Party Parliamentary Group on AI.
LinkedIn

Onfido to Power Digital ID Verification for Bitstamp

Digital identity verification company Onfido has been selected by bitcoin exchange Bitstamp to power identity verification during onboarding to meet KYC and other regulations implemented by governments across the globe.

The partnership aims to help Bitstamp scale onboarding efforts and clear its backlog of customer signup requests spurred by a spike in digital currency interest. In fact, in December 2017, Bitstamp saw 100,000 customer signups on one day alone. And, with bitcoin topping above $10,000 again yesterday, Bitstamp will likely have even higher signup volume and trading requests to process going forward.

“Onfido’s powerful machine learning technology has allowed us to automate our new customer identity verification process, and still maintain our high standards when it comes to KYC,” said Bitstamp CEO, Nejc Kodrič. “We’re already seeing positive results when it comes to speeding up our verification process.”

In a press release, Onfido CEO and co-founder Husayn Kassai said the company is quickly becoming the “go-to” provider for KYC technology. “We now work with over 30 cryptocurrency companies, allowing them to scale customer onboarding smoothly, and be more vigilant as the digital currency industry faces more scrutiny and regulation,” he added.

London-based Onfido leverages machine learning to automate identity verification for more than 1,500 businesses worldwide. To confirm their identities during the onboarding process, clients simply upload a selfie and a photo of their identity document with their smartphone. To insure the validity of the documents, Onfido cross-references identities from 192 countries against international credit and watchlist databases.

In a similar deal earlier this month, Onfido agreed to power KYC for Arro Money. Among the company’s other clients are ZipCar, Couchsurfing, Revolut, and Square. Onfido has raised more than $60 million in funding from investors including Microsoft Ventures, Salesforce Ventures, and Crunchfund. Come see Onfido’s live demo on stage at FinovateEurope next month. Register today to be a part of the audience.

Finovate Alumni News

On Finovate.com

  • Onfido to Power Digital ID Verification for Bitstamp.

Around the web

  • eToro adds XLM to cryptocurrency offering for users to buy & sell Stellar Lumens on its platform.
  • Bluefin Payments teams up with Datacap Systems and Monetary to provide encryption to POS merchants.

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

  • IdentityMind Global Raises $10 Million to Fuel Global Growth.
  • Coinbase Launches Crypto eCommerce Acceptance.
  • Roostify Lands $25 Million to Disrupt the Mortgage Industry.

Around the web

  • Revolut partners with payment issuer processor GPS ahead of APAC launch.
  • Ripple teams up with Saudi Arabian Monetary Authority (SAMA) to begin cross-border payments pilot program using xCurrent.
  • NICE Actimize brings financial crime, risk and compliance technology to global provider of core banking systems technology.
  • South Africa’s Absa Bank goes live with Finastra’s CLS platform, PAYplus.
  • CASHOFF wins finalist spot in PFM & Robo Advice category of Innovate Finance’s 2018 Pitch360 competition.
  • Microsoft features Onfido. Come see Onfido at FinovateEurope next month!
  • Softtek and Mambu launch banking platform as a service.

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.