Finovate Alumni News

On Finovate.com

  • Dynamics’ Battery-Powered Cards Hit Japan.
  • Q2 to Acquire Cloud Lending Solutions.
  • Onfido Helps TransferGo Onboard New Users Faster.

Around the web

  • OnDeck reports record net income for second quarter, credits asset growth and margin expansion.
  • Outsystems announces record-breaking quarter across all key business metrics, including a 63% gain in annual recurring revenue for Q2.
  • Varo Money to deploy Temenos’ T24 core banking system.
  • Ondot partners with PSCU, the premier payments credit union service organization to provide its card alerts and controls technology.
  • Tuition.io partners with Carhartt to help employees pay down student debt.
  • App Annie selected for JMP’s Hot 100 Best Privately Held Software Companies of 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

  • nCino Partners with Secure Trust Bank.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest.
  • Continuity to Provide Compliance Tech for Affinity FCU.

Around the web

  • CREALOGIX to implement its mobile application platform for VZ Depotbank.
  • Trulioo extends its identity and business verification service to the Philippines.
  • OutSystems named Leader in Gartner’s Magic Quadrant for Mobile App Development Platforms for the second year in a row.
  • MBT Bank to deploy SilverLake System from Jack Henry & Associates.
  • Fairstone Financial converts consumer loan portfolio to Fiserv’s LoanServ real-time servicing platform.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.
  • Lendio announces 90% YoY quarterly revenue growth.
  • Blackhawk Network’s CashStar wins PayTech award for Best E-Commerce Initiative.

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.

OutSystems’ $360 Million Funding Round Boosts Valuation Above $1 Billion

Low-code platform OutSystems has proven today that there is quite a market for fast application development without the need to learn code. The proof comes from the $360 million in funding the company received, along with its new valuation the company described as “well over” $1 billion.

Today’s funds come from KKR and Goldman Sachs, which now have a minority stake in the Atlanta, Georgia-based company. OutSystems’ total funding now stands at $422 million. The company will use today’s investment to accelerate expansion and boost software automation R&D efforts.

“We believe we are in the early innings of what will be an extended period of significant growth in the low-code application development market, and we are very excited to be backing a category leader like OutSystems,” said Stephen Shanley, director at KKR.

OutSystems leverages AI, automation and third party integrations to help users build their own apps in a visual way, without the need to know or learn to code. This approach not only cuts down on development costs, it also makes for a much faster time-to-launch.

Founded in 2001, OutSystems has revenues of $100+ million and is growing that figure at more than 70% per year. The company’s 700 employees serve thousands of customers in more than 50 countries. OutSystems’ client list includes Toyota, Logitech, Deloitte, Ricoh, Schneider Electric, and GM Financial.

At FinDEVr New York 2017, OutSystems gave a presentation titled Low-Code, The Next Evolution in App Dev Platforms (Oh, and 5X Faster). Last month, the company launched OutSystems Sentry, a new proactive security monitoring service for the company’s PaaS clients. And In April, OutSystems partnered with Atos to help companies accelerate their digital transformation initiatives.

Finovate Alumni News

On Finovate.com

  • Signicat and Mitek Team Up to Improve Digital Onboarding.
  • Meniga Scoops Up $3.6 Million in New Funding Courtesy of UniCredit Investment.
  • OutSystems’ $360 Million Funding Round Boosts Valuation Above $1 Billion.
  • Credit Karma Hires Colleen McCreary as First Chief People Officer.

Around the web

  • Oman’s Bank Sohar to deploy core banking platform from Infosys Finacle.
  • IdentityMind Global announces update of its trusted digital identities platform.
  • Revolut CEO Nikolay Storonsky tells Reuters his company will seek a banking license in the U.S.
  • i-Sight to deploy ACI Worldwide’s Case Management solution to fight bank fraud.
  • D3 Banking Technology unveils new account opening service.
  • collectAI improves Hanseatic Bank’s receivables management with a 24 percent higher collection rate.
  • SMArtX adds 18 new strategies.
  • Kony unveils new digital banking solution – Kony DBX
  • Edwards Federal Credit Union signs with Bankjoy to enhance home and mobile banking functionality.
  • Two of the top 5 US banks (and three of the Top 10) are now using Socure’s ID+ 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

  • Arxan Brings its App Protection Technology to Android.
  • BondIT Integrates Bond Portfolio Solution with FIIG Securities.
  • Dwolla Launches Start, a Pay-as-You-Go Payment Solution.
  • Intelligent Environments Rebrands as ieDigital.
  • Finicity Forges New Partnership with Mortgage Cadence.

Around the web

  • Low-code development specialist OutSystems launches OutSystems Sentry, a new proactive security monitoring service for the company’s PaaS clients.
  • PayPal acquires Jetlore, an AI-powered prediction engine for retailers.
  • Halma partners with OurCrowd for life protection technologies.
  • CNP Awards recognizes ThreatMetrix for ThreatMetrix ID.
  • EY names Flywire CEO Entrepreneur of the Year finalist in New England.

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

  • Deserve Raises $50 Million in Debt Financing.
  • Payworks Teams Up with Ghana-based Payment Platform Hubtel.

Around the web

  • Wealthify added to Starling’s in-app marketplace.
  • InComm plans $20 million expansion in Georgia, will add more than 150 jobs.
  • Fiserv launches FinKit for Open Banking to help banks keep up with rapidly unfolding regulations.
  • Horizn helps RBC win a Celent Model Bank 2018 award for Employee Productivity.
  • OutSystems to power digital transformation for Principality.
  • TransferWise introduces its multi-country bank account.

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

  • TransUnion to Acquire Callcredit for $1.4 Billion.
  • Mortgagetech Company Mr. Cooper Appoints Tony Ebers as COO. Come check out Mr. Cooper’s live demo at FinovateSpring next month.

Around the web

  • Fiserv announces partnership with Mexican credit union cooperative, Siscoop.
  • Customers Bank ($10 billion in assets) chooses core banking platform from FIS.
  • La Voz de Galicia profiles Spanish mobile banking startup, Fintonic (in Spanish).
  • Ovum names OutSystems a Market Leader in for Enterprise Mobile Application Development platforms.
  • TransUnion to acquire Callcredit in deal valued at £1 billion ($1.4 billion).
  • Ovum names Kony a leader in mobile app development platforms.
  • Cardlytics Chief Legal Officer named Atlanta Business Chronicle’s Corporate Counsel of the Year.
  • Uniken CEO recognized as a top 100 Most Innovative Business Leader.

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.

Low-Code Development Platform OutSystems Forges Strategic Partnership with Atos

Low-code development platform for rapid application development OutSystems announced a strategic partnership in Ireland and the U.K. with digital transformation specialist, Atos. The companies will leverage their working relationships in other regions to provide a platform that will enable customers to “accelerat(e) their digital transformation initiatives.”

Atos’ Head of Technology  for the U.K. and Ireland, Howard Willliams, said OutSystems’ platform will enable Atos to “offer agile and innovative products and solutions that are delivered to our clients in weeks, rather than in months or years.” He pointed to the combination of low-code and DevOps in the cloud as an ideal way to deliver web-based mobile solutions that are both “enterprise-ready and customer-focused.” Atos will host Digital Transformation Now, OutSystems’ upcoming event focused on low-code development, as part of the agreement.

For OutSystems, the agreement helps broaden its reach into overseas markets. Bob Wilson, VP of Global Alliances and Channels at OutSystems, said, “We see this partnership with Atos as an opportunity to help our customers in the U.K. and Ireland rapidly develop enterprise-ready web and mobile applications that solve their business challenges in new and innovative ways.”

Recognized for its leadership in mobile application development platforms (MADP) and low-code development platforms by Gartner and Forrester, respectively, OutSystems helps firms build and manage better apps. With full-stack visual development – including drag-and-drop functionality for UI – and single-click deployment and updating, OutSystems serves customers in verticals ranging from banking and insurance to healthcare and retail.

Last year, OutSystems presented a talk titled Low-Code: The Next Evolution in App Dev Platforms (Oh, and 5x Faster) at our developers conference, FinDEVr New York. At the event, OutSystems’ Nuno Silveira (IT Architect) and Joao Miranda (IT Manager) discussed how the company was able to assist a European retail bank in a major digital transformation including mobile banking, internet banking, branch, and contact center solutions.

In March, OutSystems unveiled its Digital Transformation Hub, an online educational resource for IT leaders that features original research and analyst reports from Gartner, Forrester, and others on the topic of digital transformation. Also last month, the company announced the completion of a low-code development project with BlueVest. The project enabled the U.K.-based company to launch a digital underwriting app that provides initial loan quotes as fast as 15 minutes and confirmed offers in 30 minutes.

Founded in 2001 and headquartered in Atlanta, Georgia, OutSystems has raised more than $62 million in funding. The company includes North Bridge Venture Capital and Armilar Venture Partners among its investors. Paulo Rosado is CEO.

Finovate Alumni News

On Finovate.com

  • doxo Teams with Coinstar to Facilitate Cash Payments for Underbanked.
  • Agreement Express Lands Funding from Frontier Capital.
  • Low-Code Development Platform OutSystems Forges Strategic Partnership with Atos.

Around the web

  • Iowa City-based Farmers & Merchants and Savings Bank to deploy Fiserv’s retail and business banking platform.
  • Zopa announces restructuring in advance of the launch of its challenger bank.
  • PYMNTS.com features Trulioo CEO Stephen Ufford in a conversation about the present and future of KYC.
  • Santander introduces its Santander One Pay FX service, a blockchain-based money transfer offering that leverages Ripple’s xCurrent technology.
  • Meniga CEO Georg Ludviksson selected as one of top 200 Fintech leaders in Europe
  • NuCypher teams with Origin Protocol to control access to sensitive information in decentralized marketplaces.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.
  • PYMNTS.com profiles anti-cyberfraud startup, Emailage.

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

  • Market Earlybird Helps Market Professionals Identify Trading Opportunities First.
  • Additiv Lands $25.5 Million Investment
  • Algomi Acquires AllianceBernstein’s ALFA’s Fixed Income Liquidity and Analytics Tool

Around the web

  • Kony partners with KMC controls to bridge mobile apps and IoT
  • Clover now enables Android Pay’s Smart Tap
  • TickSmith releases a Python API for the new generation of financial data scientists
  • ID.me wins Trailblazer Award at 1st Annual K(NO)W Nodes Awards Show
  • Finextra: Google and PayPal partner for mobile shopping by fingerprint
  • ProfitStars introduces Automated Website Governance Solution
  • FinovateAsia Best of Show winner Finn.ai earns spot in Payments Canada’s pitch competition, Dragon’s Den.
  • OutSystems adds Tom Schodort and Bill Macaitis to its board of directors.

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.