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.

TESOBE’s Open Bank Project Powers API for Forty Seven Bank

The Open Bank Project, an open source API solution, announced this week it will power an API for Forty Seven Bank, a London-based banking startup.

This week, Forty Seven Bank released the first version of its API to give developers access to its infrastructure. This allows developers to take advantage of Forty Seven Bank’s compliance, risk management, and customer service offerings. The bank currently has 24 new apps eligible for its internal app store.

Forty Seven Bank CEO Aleksandrs Malins said, “This is a huge moment for us and the wonderful community that has formed around this project. We worked from the premise that any fintech developer in the world should have the opportunity to create groundbreaking new products even without big money behind them.”

Thanks to the Open Bank Project, Forty Seven Bank’s API is PSD2 compliant– a key to taking advantage of financial services opportunities in Europe.

Headquartered in Germany, the Open Bank Project was founded in 2005. The company’s CEO Simon Redfern, along with COO Ismail Chaib, demoed the API engine at FinovateEurope a few weeks ago in London. In late January, The Open Bank Project announced it was powering Santander’s first hackathon and in May of last year, the company partnered with Societe Generale to launch the bank’s internal hackathon.

Finovate Alumni News

On Finovate.com

  • TESOBE’s Open Bank Project Powers API for Forty Seven Bank.
  • TD Bank to Deploy nCino’s Bank Operating System.
  • Malauzai to Power Mobile Banking Tech for Axiom.
  • Endor Raises $45 Million in ICO.

Around the web

  • ayondo celebrates being the first fintech to list in Singapore.
  • TD Bank leverages nCino’s Bank Operating System across corporate and commercial lending divisions.
  • CustomerXPs‘ Clari5 to power real-time AML solution for Bank of Ceylon.
  • PayActiv appoints COO.

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: TESOBE

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.

TESOBE’s Open Bank Project is the leading open source API solution for banks.

Features

  • Comply with Open Banking and PSD2 regulation and go beyond
  • Leverage a large Open Banking catalogue of APIs
  • Reach over 8,000 fintech developers worldwide

Presenters

Simon Redfern, CEO
Founder of the Open Bank Project, Redfern is a hacker at heart, always keen to explore emerging technologies. He is also a composer and enjoy creative collaborations and is based in Berlin, but from London.
LinkedIn

Ismail Chaib, COO
Chaib is a recognised Open Banking practitioner with more than 5 years of experience in the domain. As COO of TESOBE, he is in charge of sales, business development and marketing. Previously, Chaib was founder of SMSBridge. He is based in Berlin and from Algiers.
LinkedIn

TESOBE’s Open Bank Project Powering Santander’s First Hackathon

Courtesy of help from TESOBE’s Open Bank Project, Santander is hosting its first hackathon this spring. The bank will leverage the Open Bank Project’s white-labeled sandbox technology and expertise to host the competition, themed Building Banking Your Way.

Stephen Dury, Head of Customer and Innovation at Santander​, said, “​By launching a hackathon, we hope to see the future of open banking come to life through participants fresh ideas, creative new use cases and industry-changing solutions.”

Using a sandbox of emulated data, the hackathon aims to find innovative solutions to business challenges and tackle issues ranging from customer interaction, security, homeownership, and money management. Prizes will be awarded to participants who create submissions that “surprise, delight, and engage with users in a way that has never been done before” and the winning team will receive $14,000 (£10,000).

Santander’s upcoming hackathon will take place from 16 through 18th March in Shoreditch.

Simon Redfern, CEO of TESOBE / Open Bank Project, ​said that this hackathon comes at a particularly exciting time given the EU’s new open banking regulations. “A hackathon is a great way of gathering and focusing fresh perspectives and we’re excited to meet and support the up-and-coming innovators who have the vision, passion, and capability to rapidly deliver compelling fintech apps and services using Open Banking APIs,” Redfern added.

The Open Bank Project has partnered with a number of global banks, including Societe Generale and The Royal Bank of Scotland, to help them organize and execute successful hackathons. With new PSD2 guidelines in place, banks may be more likely to open themselves to new opportunities and feel more pressure to create and adopt new, innovative services.

Headquartered in Germany, the Open Bank Project was founded in 2005. At FinovateSpring 2013, Redfern demonstrated a fun application of open banking– the world’s first singing bank. The point of the demo was not the singing bank itself, but rather was intended to showcase the ease of use of the Open Banking Project’s API. At FinovateEurope this March, TESOBE’s Open Bank Project will demo its newest technology from stage (register).

Finovate Alumni News

On Finovate.com

  • Wealthfront Launches Homeownership Planning Tool.
  • Kabbage to Serve Larger Businesses by Expanding Line of Credit to $250k.
  • BlueVine Boosts Invoice Factoring Credit Line to $5 Million.
  • TESOBE’s Open Bank Project Powering Santander’s First Hackathon. Come see TESOBE’s Open Bank Project at FinovateEurope in March.

Around the web

  • Playtech integrates Featurespace’s real-time gameplay fraud detection into IMS.
  • ATB Financial joins SecureKey Concierge Authentication Service.
  • Blackhawk Network partners with Casey’s General Stores to enable ‘cash customers’ with Amazon Cash.
  • TIBCO and Singapore Polytechnic collaborate to address skills shortage for SMEs.
  • Finabank selects Temenos for end-to-end technology.
  • Finastra acquires FX e-trading platform, Olfa Soft SA.
  • 4finance Group to deploy AML and KYC compliance solutions from FICO.
  • Best of Show winner Finn.ai hires former Twitter executive Stephen Morse as new head of global strategic accounts.
  • Nissan Motor Acceptance Corporation (NMAC) joins AutoGravity platform.

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

  • 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

  • “2016 CNBC Distruptor 50 Features Klarna, Kabbage, Twilio, and Motif Investing”
  • “Ping Goes the Blockchain: Partnership Brings Consensus, Kill Switch with New Platform”
  • “Ripple Receives BitLicense to Sell XRP”

Around the web

  • FICO launches its Academic Engagement Program, helping business students get hands-on experience with analytic software.
  • Mashable features Dashlane in its list of “7 can’t miss apps.”
  • Ping Identity partners with blockchain innovator, Swirlds.
  • Braintree announces new integrations with Demandware and Netsuite.
  • Top Image Systems earns spot in the Russell Microcap Index.
  • Bloomberg Businessweek profiles TransferWise, ‘London’s Lonely Unicorn.’
  • The economist looks at Strands and Entrepreneurial Finanace Lab’s roles for businesses in developing countries.
  • Unicredit launches Appathon powered by Open Bank Project.
  • Crowdtrader looks at C.K. Mack’s new take on crowd-sourced real estate investing.

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

  • “Signifyd Raises $20 Million in Series B Led by Menlo Ventures”
  • “Ping Identity Launches New Features, Multi-Factor Authentication API”
  • “Trusted Knight Lands Series B Funding, Acquires Sentrix Web Technologies Assets”
  • “Live from London: FinovateEurope 2016 Demo Videos Now Available

Around the web

  • Minnesota-based Wings Financial Credit Union to deploy account opening technology from Gro Solutions.
  • NICE Systems announces strategic partnership with The Boston Consulting Group (BCG).
  • Cisco to serve as the “priority technology partner” to BBVA in new strategic alliance.
  • NYMBUS teams up with Geezeo, adding white label PFM technology to its full-stack, core banking platform.
  • Xerox enters into global reseller agreement with Top Image Systems.
  • Emirates NBD Group and the Open Bank Project launch a global competition for fintech startups.

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

  • “Lighter Capital closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups”
  • “Dwolla Helps Seamless Deploy its Mobile Wallet in the United States”

Around the web

  • PYMNTS records 2015 payment-trend insights from multiple Finovate and FinDEVr alums.
  • Arroweye featured in Credit Union Journal.
  • Kantox brings free and automatic SWIFT messages to its clients.
  • Dealstruck and Lendio release eBook.
  • The Growing Business Awards names Zopa the Growing Business of the Year in the small business category.
  • American Banker highlights how Tesobe’s Open Bank Project is working toward an API-based banking model.
  • Markit and CLS unveil new streamlined process for cross-currency-swaps settlement.
  • Let’s Talk Payments looks at Klarna and its unconventional approach to authentication.
  • FIS closes SunGard acquisition.
  • BioCatch adds Gadi Maier and Howard Edelstein to its board of directors.
  • Comarch implements Field Service Management solution for receivables management specialist, the KRUK Group.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.