Finovate Alumni News

On Finovate.com

  • Revolut Launches Cryptocurrency Trading.
  • CRMNEXT to Enhance Customer Journeys for $4.4 Billion First Bank.
  • Payoneer Lands Funding from China Broadband Capital

Around the web

  • TechCrunch examines IBM’s new chip for AI.
  • Bill.com and CPA.com expand Accountant Partner Program.
  • Baker Hill integrates LenderLink into its NextGen solution as part of strategic partnership with Lowenstein and Associates.
  • Roostify announces integration with Black Knight’s LoanSphere Empower loan origination system (LOS).

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.

Roostify Launches Decision Builder

 

Decision Builder, the latest solution from mortgage tech innovator Roostify, will give lenders the ability to provide loan applications with a clear, easy-to-understand view of all the borrower’s loan options – based on the lender’s actual product and pricing system.

“Consumers often approach a home loan with a lot of anxiety, in part because traditionally very little information has been available to them,” Vice President of Products for Roostify, Sandeep Aji said. Not knowing things like how much the monthly mortgage payment will be or the exact amount needed to close “until late in the process,” are an unnecessary source of stress for prospective mortgage borrowers, Aji explained. “With Decision Builder, consumers can get an accurate idea of what to expect before they even fill out an application,” he said.

Readily integrated into the lender’s current website, Decision Builder collects some basic information such as desired loan amount, anticipated downpayment and ZIP code of the house via a set of dropdown questions. The tool then provides a set of loan options that let the prospective borrower see which products and rates they qualify for. Once the consumer makes their choice, a single click allows them to continue the process with their selected loan product. Aji added that improving the application process by providing more information sooner is a benefit to lenders as well as homebuyers. “Offering this information to consumers trying to education themselves allows lenders to establish a trust relationship early on with prospective clients,” he said, “increasing the likelihood they will apply with that lender.” Decision Builder will be demonstrated live next week at the MBA Annual Convention.

Founded in 2014 and headquartered in San Francisco, California, Roostify demonstrated its platform at FinovateSpring 2016. Last month, the company announced partnerships with mortgage transaction services provider ServiceLink and digital insurance firm, Matic Insurance Services. In August, the company celebrated a milestone in the number of external developers working on its platform. The previous month, Roostify announced that it had helped housing lender First Cal reduce its loan process to 15 days – 66% lower than the national average of 43 days.

Named to the Forbes Cloud 100 and CB Insights Fintech 250 earlier this year, the company added top executive talent in 2017, bringing on Frank Gelbart as Chief Revenue Officer and Sandeep Aji as Vice President of Products. We profiled Roostify as part of our look at proptech and mortgagetech back in February.

Finovate Alumni News

On Finovate.com

  • Kony to Launch Digital Banking Solution Leveraging Daon Biometrics.
  • Roostify to Preview Decision Builder Tool to Ease Loan Application Process.

Around the web

  • NCR introduces its cloud-based mobile payment solution.
  • FICO partners with GVNG to provide non-profits with AML and KYC solutions.
  • Trustly added to Flywire platform as a preferred payment option courtesy of new agreement.
  • nCino scores top spot in Aite Group report on global commercial loan origination.

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.

Roostify Celebrates Growth, Role of External Developers on its Platform

How many fintechs can boast of having more external developers working on its platform than in-house talent?

That’s the happy situation Roostify finds itself in. The automated lending technology innovator announced this week that the number of external developers working on the online mortgage platform now exceeds the number of Roostify’s in-house engineers. For newly-hired VP of Products, Sandeep Aji, this milestone is a major validation of the company’s ability to successfully promote the functionality of its API. “Our clients are finding value in the flexibility and extensibility that Roostify offers versus a static, off-the-shelf software program,” Aji said.

Pictured: Roostify co-founder and Head of Product Nathaniel Sokoll-Ward demonstrating the company’s platform at FinovateSpring 2016.

The ability to build customized workflows is at the heart of what is attracting both large enterprise customers as well as “tech-savvy smaller lenders” to Roostify’s platform. The Roostify API enables users to design their own processes to run within the platform and to easily integrate with their own CIS, CRM, LOS, and Access Control systems. This allows a wider number of potential users of the technology, who don’t have to wait for a specific integration for their system. “The API allows them to build that integration themselves and create the workflow that’s right for their business, rather than forcing them to adopt a different program in order to use Roostify,” Aji explained.

Founded in January 2014 and based in San Francisco, California, Roostify demonstrated its SaaS-based, end-to-end lending platform at FinovateSpring 2016. Last month, the company was named to the Forbes 2017 Cloud 100 list and was credited by First California Mortgage (First Cal) for helping them reduce average loan timeframes to 15 days (national average is 43 days). Also a member of CB Insights Fintech 250, Roostify added former Appfluent Technology CEO Frank Gelbart as Chief Revenue Officer in April, and announced a deal to power Chase Bank’s self-serve mortgage platform in February. The company has raised $8 million in funding, and includes USAA and Colchis Capital Management among its investors. Rajesh Bhat is co-founder and CEO.

Finovate Alumni News

On Finovate.com

  • Roostify Celebrates Growth, Role of External Developers on its Platform.
  • Emirates NBD Enlists Efigence for UX/UI Makeover.

Around the web

  • Icon Solutions initiates functional testing between the Instant Payments Framework and EBA Clearing’s RT1 platform.
  • Infosys to acquire product design and CX specialist, Brilliant Basics.
  • TechCrunch: Coinbase to provide support for Bitcoin Bash in 2018.
  • RealtyMogul.com celebrates the first anniversary of the first crowdfunded REIT, MogulREIT 1.
  • AutoGravity announces reaching 500,000 download milestone for its app.

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

  • Worldline Buys First Data Baltics for $85 Million.
  • Symbiont Announces Strategic Investment from Medici Ventures.

Around the web

  • Benzinga features SuperMoney, LendUp, Credit Sesame, Capsilon, & BeSmartee as companies revolutionizing lending.
  • HuffPost features Jeana Deninger, ‎Chief Operating Officer at CoverHound.
  • BellaDati announces BellaDati IoT Cloud for the exploration of real-time data from Cross Domain Development Kit XDK of Bosch Connected Devices.
  • Symphony Software Foundation now counts more than 50 projects, 100+ contributors, 4 working groups, & 25 members.
  • Roostify helps First Cal Cut Loan Process to 15 Days.

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

  • Expensfy Brings Auto Expensing to Lyft Business Riders.
  • Ephesoft Earns $15 Million Investment from Mercato Partners.
  • Summit View: What Drives Innovation in Regtech and Insurtech?

Around the web

  • LendingClub expands partnership with Opportunity Fund to help entrepreneurs access capital.
  • Gene Lockhart appointed Chairman of DemystData.
  • BioCatch receives patent for detecting the presence of remote access tools.
  • eToro launches Crypto CopyFund that includes top cryptocurrencies.
  • Segmint partners with IBM to enhance Financial Institutions’ data ACI Worldwide expands in Romania
  • FICO extends cybersecurity score to rate 4th party risks.
  • BrightFunds and Roostify named to Forbes Cloud 100.
  • GreenKey Technologies partners with Red Box Recorders to launch trading voice collaboration and compliance recording solution.
  • American National Bank selects Jack Henry Banking’s SilverLake System.
  • Hip Pocket graduates from Points of Light Civic Accelerator.
  • Financial Resources Federal Credit Union Teams with Roostify to Create Better Online Mortgage Experience.
  • Santander partners with supply chain finance startup Tradeshift.
  • Bancpass issued patent for its mobile payment 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.

44 Alums Populate CB Insights’ Fintech 250 List

This week, CB Insights unveiled its Fintech 250 list. The research outfit selected 250 emerging, private companies in 17 sub-sectors of fintech that are changing the face of financial services. The roster includes 44 Finovate and FinDEVr alums that were selected using CB Insights’ data-driven process that analyzes company momentum, market participation, funds raised, and investor quality.

The list is in alphabetical order.

Algomi

AutoGravity

Avalara

Behalf

Betterment

Blend

Chain

Coinbase

Credit Karma

Currencycloud

CurrencyFair

Fenergo

Financeit

Gusto (formerly ZenPayroll)

Juvo

Kabbage

Kensho

Kreditech

Klarna

LendUp

Moneytree

PayNearMe

Payoneer

Personal Capital

Plaid

Quantopian

Quovo

Revolut

Ripple Labs

Roostify

Signifyd

SocietyOne

Socure

Tink

Token

Tradeshift

Transferwise

TrueAccord

Trulioo

VATBox

Wealthfront

Xignite

Zooz

Zopa

Finovate Alumni News

On Finovate.com

  • AutoGravity Brings its Auto Loan Financing Solution to the Garden State.

Around the web

  • Roostify names Sandeep Aji as Vice President of Products.
  • Symbiont partners with PrivateMarket.io to build alternative investment marketplace for closed-end funds.
  • Myanmar-based AYA Bank (Ayeyarwady Bank) chooses core banking technology from Misys.
  • NetGuardians wins spot in Euro Banking Association’s EBAday 2017 conference.
  • Clients of Nodus Technologies gain access to PCI-validated P2PE technology courtesy of new partnership with Bluefin Payment Systems.
  • Wall Street Journal reports Coinbase meeting with investors over a new round of funding that would lead to a billion dollar valuation.

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

  • Digitization, Data, and Automation: A Look at Tech Trends Driving MorgageTech.
  • The Way to San Jose: FinovateSpring 2017 Begins This Week.

Around the Web

  • Roostify taps former Appfluent Technology CEO Frank Gelbart as new Chief Revenue Officer.
  • Fraud prevention innovator Featurespace partners with UK digital family banking solution, goHenry.

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.