Finovate Alumni News

On Finovate.com

  • Coinbase Custody Helps Institutional Investors Securely Store Digital Assets
  • Kabbage Expands Small Business Funding with $200 Million Credit Facility.

Around the web

  • Overbond offers U.S. corporate issuers and institutional investors real-time access to its platform.
  • PayPal and Synchrony Financial expand strategic consumer credit relationship.
  • U.K.-based Featurespace to open office in Atlanta in November.
  • WealthForge Debuts Its First Regulation A Offering with New Investor Workflow
  • GoBankingRates features Blend, Unison, and Ellevest in its 10 Startups to Watch in 2018 list.

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

  • Ripple Releases XRP Metrics in New Report.
  • SocietyOne Appoints Former Westpac Exec as Chief Investment Officer.
  • Check out this week’s FinDEVr APIntelligence

Around the web

  • Fenergo announces new rules-based solution to better enable FIs to meet margin requirement obligations.
  • NCR unveils redesigned tablet point-of-sale app.
  • New development and support center for Monitise supported by $664,000 in business financing from Welsh government.
  • Let’s Talk Payments interviews Marcin Truszel, Founder & CEO of Kontomatik.
  • Overbond Ltd is launching a service that will allow companies to issue bonds digitally.
  • Kony powers KMC Connect Lite mobile app for KMC Controls.
  • Irish Tech News interviews BancVue’s John Waupsh on his book, Bankruption.

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 the week’s “FinDEVr APIntelligence”
  • “Finovate Debuts: Uniken Introduces Relationship-Based Authentication”
  • BlueVine’s $49 Million to Fuel Product Expansion”
  • Empyr Powering Yelp’s New Cash Back Program”

Around the web

  • Expensify exclusively endorsed by the world’s leading accounting body.
  • Scalable Capital hits €100m in assets 10 months after launch in Germany and 4 months after U.K. launch
  • vaamo receives license for portfolio management by German supervisory authority BaFin.
  • Morningstar’s HelloWallet launches free student-loan calculator.
  • Signifyd and ThreatMetrix team up to combine machine learning and digital IDs to reduce ecommerce fraud.
  • Cartera Commerce launches Offerlink, a free Google Chrome web-browser extension to help online shoppers save money.
  • Envestnet | Yodlee integrates with Microsoft Dynamics 365 for Financials.
  • Kalypton wins the Dassault Systemes 3DS fintech challenge.
  • FinDEVr alum Braintree introduces commerce infrastructure tools.
  • ACI Worldwide named “frontrunner service provider” for EBA instant credit-transfer scheme.
  • Overbond integrates DBRS credit ratings into its platform.
  • DarcMatter earns first-place honors at Next Money Shanghai Semifinal Pitch competition.

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.

Finovate Debuts: Overbond Leverages Technology to Reimagine Bond Issuance

overbond_homepage_november2016

Leveraging the power of technology to make raising capital in the bond market easier and more efficient for large companies is the goal of Overbond, the Toronto-based startup launched in 2015. The firm’s technology enables companies to access both investor and dealer networks directly for the first time. CEO Vuk Magdelinic, co-founder, calls Overbond “a little bit like eBay meets Funding Circle.”

Even though bond-issuance is the “lifeline” of finance, Magdelinic notes that the processes and technology supporting this $2.6 trillion industry are far from state of the art. He said:

We talk with inside investors who tell us they are getting inundated with hundred-plus phone calls a week regarding new bond issues. Issuers have lost confidence [as to whether] they are getting the best price possible on their bonds. And regulators have caught on and said flat-out that the process isn’t competitive and transparent enough.

Overbond’s platform replaces a process that, in addition to being 50-years old, is manual, non-transparent, error-prone and costly for everybody involved.” By digitizing every step of the bond-origination process, Overbond provides all participants with transparent, digital price discovery, robust deal-execution workflow and “better relationships,” courtesy of the platform’s big data analytics, which scan and evaluate the universe of investors to make specific, predictive relationship-management recommendations.

At FinovateFall, Overbond debuted its proprietary digital price-discovery module. “It’s all about price discovery, ” Overbond co-founder and Head of Product Han Ryoo said while introducing the new feature live on stage. “We allow discreet channels for issuers, dealers and investors to express their interest,” he said, “and dealers are able to turn this interest immediately into orders.”

Company facts:

  • Founded in 2015
  • Headquartered in Toronto, Ontario, Canada
  • Raised $7.5 million in funding
  • Named one of KPMG’s Top 50 Emerging Global Stars in 2016, a Canadian Innovation Exchange Top 20 Company, and one of Paypal and Techvibes’ Fintech Five.

overbond_stage_ff16

From left: Overbond co-founders CEO Vuk Magdelinic and Han Ryoo, head of product, demonstrated their bond-origination platform at FinovateFall 2016.

overbond_vukmagdelinicWe briefly caught up with Vuk Magdelinic, CEO and co-founder of Overbond, at his booth during the networking session at FinovateFall 2016, and followed up via e-mail afterward. Here are his thoughts on the impact his company’s technology can make on the bond-origination process.

Finovate: What problem does your solution solve?

Vuk Magdelinic: The technology is aimed at making the primary bond-issuance process more digital, transparent, and secure. It reduces operational risk, market risk, and transaction costs for all involved parties.

Finovate: Who are your primary customers?

Magdelinic: Corporate and government fixed-income issuers, fixed-income dealers, and fixed-income investors.

Finovate: How does your technology solve the problem better?

Magdelinic: Overbond is the first fully integrated platform to connect corporate and government bond-market issuers, dealers, and fixed-income investors. It transforms a currently manual process into a digital process and simplifies all stages of bond origination through better relationship management, digital price discovery, and robust deal execution.

Key platform features include:

  • digital primary bond issuance workflow
  • digital supply-and-demand discovery
  • internal/external communication and relationship-management tools
  • advanced data analytics and charting
  • educational resources, documentation management
  • comprehensive issuer/investor/dealer directories

overbond_debut_art1

Pictured: Issuer Directory – The Overbond platform includes an issuer directory that allows you to directly contact issuers, dealers, and investors. It also includes a proprietary algorithm that provides users with “recommended” issuers, investors, or dealers to engage.

Finovate: Tell us about your favorite implementation of your platform.

Magdelinic: Our favorite technology implementation so far is the price-discovery module. It is the first of its kind in the world, and is designed to enable optimal bond pricing and robust deal execution. The module addresses the long-standing issue of price discovery—aka soft sounding—being one of the most inefficient manual components of the bond-origination process.

Instead of countless phone calls and emails, our price-discovery module allows dealers, issuers, and investors to share real-time expressions of interest in a private and secure format. Parties involved can comment, fully customize, and gain insights into inquiries using our proprietary analytics engine. Ultimately, the module allows dealers, issuers, and investors to better gauge the market and gain confidence with respect to deal execution.

overbond_debut_art2

Pictured: Deal Room – The Overbond platform includes an end-to-end workflow for executing bond issuances. Here you can see a bond deal from an investor’s perspective; it includes milestones, your order status, dealer chat functionality, and a summary of the deal.

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

Magdelinic: We are both fintech leaders with extensive capital markets experience. I have more than a decade of experience in capital markets and technology. Prior to founding Overbond, I worked as a risk and regulatory consulting manager with PwC, and led large digital transformations for Deutsche Bank and BNY Mellon. I also spent time working in fixed-income, structured products origination with CIBC, where I met co-founder Han Ryoo.

Han Ryoo, head of product, has more than 8 years of fixed income and fintech experience from CIBC World Markets, TD Securities, BMO Capital Markets, Barclays Capital and Plooto. In particular, Han specialized in corporate bond origination leading $30+ billion in deals for over 40 multinational corporations. Han gained experience in fintech by working as director of operations at the business payments platform, Plooto. However, despite our experience, the most important factor contributing to our confidence in tackling this challenge, is that we believe in the power of technology for efficient capital markets.

overbond_debuts_art3

Pictured: Supply Discovery – Using Overbond’s supply-discovery feature, dealers and investors can see their historical reverse inquiry activity as well as recommended issuers to engage. Dealers and investors can then generate reverse inquiries, send them to issuers, and monitor them through the platform.

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

Magdelinic: Over the next few months, we have a pipeline of initiatives that we are incredibly excited about! Here are a few things to look out for:

  1. Cobi Intelligence Analyst: Currently in beta format, Cobi is an “intelligence analyst” that uses big data and machine learning to study data and construct algorithms that allow it to make predictions. Cobi was designed to assist all fixed-income participants with their decision making related to the primary bond-issuance process.
  2. Overbond Chat: Overbond Chat allows all fixed-income market participants to build and enhance relationships by establishing private, secure, easily accessible, and ongoing channels of communication among issuers, investors, and dealers.

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

Magdelinic: We see ourselves as the company spearheading the transformation of bond-issuance processes from legacy systems into a fully digital investment banking approach. We plan to drive a more transparent, secure, and efficient process that generates significant value to all stakeholders involved. We see ourselves as a global fintech leader in the primary bond-issuance space, and we plan to empower issuers, investors, and dealers to make more effective decisions with respect to bond issues.


Magdelinic and Ryoo demo the Overbond platform live in this video from FinovateFall 2016 in New York.

Finovate Alumni News

On Finovate.com

  • “D3 Banking’s Platform Goes Live at First Tennessee Bank”
  • “Finovate Debuts: Overbond Leverages Technology to Reimagine Bond Issuance”

Around the web

  • Zopa applies for U.K. banking license.
  • AGS Transact enters strategic alliance with ACI Worldwide, bringing its Universal Payments platform to the Indian market.
  • Wipro extends partnership with ASG Technologies to enhance compliance for financial services companies around the world.
  • iSignthis expands its reach into bitcoin industry as partner Coinify ApS announces new partnership with Blockchain.
  • NCR to deploy its Pulse Banking app for operation management at Germany’s Sparkasse Jena.
  • ShopKeep ranks 116 on Deloitte’s Technology Fast 500.
  • Standard Chartered launches personalized investment tool for affluent clients.
  • Ping Identity becomes a Workday Certified Solution Partner.
  • TechCrunch reports: CrowdFlower forms a three-person scientific advisory board.
  • Bitcoin wallet company Blockchain is beta testing a new in-wallet purchase-option in partnership with payments-startup Coinify.
  • Kony enhances its Mobility Platform with launch of “Nitro” omnichannel technology.
  • Interactions launches voice biometrics for seamless caller authentication within its Intelligent Virtual Assistant.

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

  • “FinovateAsia 2016: A Tale Told in Tweets”

Around the web

  • Vantiv to acquire Moneris USA for $425 million.
  • IBM to help Thailand’s KBank develop blockchain network to fast-track complex corporate credit processes.
  • Aerospike launches new version of platform designed for enterprise customer-engagement apps.
  • Wipro wins 2016 Customer’s Choice award in the IT Provider of the Year category of the Payload Asia Awards.
  • Bill.com introduces new digital payments solution, Bill.com Connect.
  • “Overbond Integrates Thomson Reuters Data Universe to Optimize Price Discovery”
  • MX to power financial data for Tyfone digital banking solutions.

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

  • Live Safe and Prosper: The Themes of FinovateAsia 2016

Around the web

  • Algomi partners with Euronext to develop corporate bond trading network.
  • Fiserv adds SAS endpoint protection from CrowdStrike to its cyber security suite.
  • Top U.K. mobile wallet Yoyo picked by Caffé Nero for its mobile payment and loyalty rewards program.
  • Avoka unveils new analytics module, Transact Insights, to support digital account opening.
  • New partnership with Swisscom enables Boku to provide carrier biting for users of Spotify.
  • Overbond integrates fixed-income market-data from Thomson Reuters.

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.

H2 Ventures and KPMG Unveil 2016 Fintech 100

h2_kpmg_2016fintech100

H2 Ventures and KPMG have released their Fintech 100 roster for 2016. Divided equally between 50 “industry leaders” and 50 “emerging stars,” the roster features 17 Finovate/FinDEVr alums in the first category, and 10 in the second. Calling its roster a “celebration” of the most compelling innovators in this “bold new space,” the H2 Ventures/KPMG 2016 Fintech 100 covers a variety of different shades of fintech:

  • Lending (32 companies)
  • Payments (18 companies)
  • Insurance (12 companies)
  • RegTech (9 companies)
  • Data & analytics (7 companies)
  • Wealth management (6 companies)
  • Blockchain (5 companies)
  • Digital currency (5 companies)
  • Capital markets (3 companies)
  • Crowdfunding (2 companies)
  • Accounting (1 company)

And here is a look at how Finovate/FinDEVr alums fared. Earning recognition among the companies in the Leading 50 group are:

Also noteworthy in the Leading 50 are Ant Financial, which acquired Best of Show-winning EyeVerify in September 2016, and Avant, which acquired Finovate alum ReadyForZero in the spring of 2015.

Additionally, Finovate/FinDEVr alums earning spots in the Fintech 100’s 50 Emerging Stars roster were:

The H2 Ventures/KPMG report includes a geographic breakdown of the 2016 Fintech 100, as well as a set of key takeaways such as increased geographic diversification, the return of lending, the continued ascent of Insurtech, and the appearance of RegTech. The report also notes that China now has four out of the top five companies in the report’s top 10, and eight companies in the top 50. The report says funding for fintech “continues to rise,” and its authors cite more than $14 billion in capital was raised by the Fintech 100 in the past year.

Finovate Alumni News

On Finovate.com

  • Kreditech Taps mBank Veteran Michal Panowicz to Lead on Products, Technology

Around the web

  • TransferTo partners with Eurogiro to enable mobile money transfers.
  • Sberbank and MasterCard launch Apple Pay in Russia.
  • AcceptEmail announces integration with Salesforce.
  • TransUnion unveils its Fraud Prevention Exchange.
  • PaySimple launches the first e-commerce platform for service providers.
  • Ethoca teams up with Lean Industries to improve dispute processing for card-issuing banks.
  • RealtyMogul.com announces 8% dividend payout for new REIT, MogulREIT I. Read more in our coverage about MogulREIT I.
  • Overbond wins spot in Canadian Innovation Exchange (CIX) 2016 Top 20.

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.