Finovate Alumni News

On Finovate.com

  • Ledger Partners with Intel to Boost Blockchain App Security.
  • BioCatch to Power Behavioral Biometrics for Samsung SDS America.
  • Clinc Teams with Enacomm to Bring AI Chatbots to Small Banks and Credit Unions.
  • Finn.ai Powers Facebook Messenger’s First, Fully-Featured, AI-Powered, Virtual Banking Assistant.

Around the web

  • PayPal launches PayPal for Marketplaces
  • Forbes: Banks Wanted To Sink Kantox— Now They’re Vying For Its Technology
  • Zumigo’s  Zumigo Assure now prevents payment fraud even when card numbers are compromised.
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Finicity launches online platform that allows lenders to order, manage and monitor digital verification reports.
  • DAVO’s Sales Tax App, now available in the Square App Marketplace.
  • D3 Banking partners with P2P payments network, Zelle.
  • Behavioral biometric technology from BioCatch to be integrated into Samsung’s Nexsign platform.
  • Top Image Systems introduces its eFLOW AP solution for SAP.
  • Zafin offers its miRevenue platform as a cloud-based SaaS solution.
  • Scalable Capital provides BlackRock employees with streamlined access to its investment management 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.

Finovate Alumni News

On Finovate.com

  • Truphone Raises $339 Million to Fuel Global Expansion.
  • Best of Show Winner Voleo and Nasdaq to Launch Equity Trading Competition.

Around the web

  • New York Life launches student loan repayment program; partners with Student Loan Genius.
  • NCR unveils new mPOS solution, Ring Up, designed for U.S. micro businesses.
  • Investr to offer fractional share trading via partnership with DriveWealth.
  • MarketEarlybird announces availability on cloud-based workflow and collaboration platform, Symphony.
  • Quadient (formerly GMC Software) expands Partner Advantage Program.
  • Top Image Systems eFLOW Remit tops 50 billion transactions.
  • Ondot Systems brings its card control technology to Access Softek mobile banking platform.
  • Pendo launches Pendo Machine Learning Platform (PMLP).
  • ICBA adds CECL Solution from ProfitStars to Preferred Service Provider Program
  • Finastra adds three new CU clients
  • Kony to power next-gen digital platform for NRT and Sightline.
  • Pendo Systems selected by SWIFT as One of 16 Fintechs to Exhibit at SIBOS 2017.
  • 35 Finovate alums named in IDC Financial Insights’ top 100 fintech rankings

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

  • Vipera Acquires SoftTelecom for $1.5 Million
  • FutureVault Appoints John D. Orr as New CEO.
  • Handle Financial’s PayNearMe Partners with Blackhawk Network.

Around the web

  • CrowdFlower earns Gartner “Cool Vendor” status for Information Innovation and Governance.
  • Braintree surpasses one billion transactions per quarter milestone.
  • Infosys wins three out of seven Catalyst Awards at TM forum Live.
  • Baidu and PayPal announce strategic partnership.
  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Top Image Systems announces eFlow AP 5.2 integration with SAP S/4HANA.
  • Wipro and Compuware partner to launch mainframe center of excellence.
  • Agreement Express ranked among top 100 technology companies in British Columbia by Business in Vancouver.
  • SearchUnifiedCommunications features Bluescape in its look at use cases for digital collaborative whiteboards.
  • Pendo Systems announces trio of new hires to support a “banner year” for the company.
  • Central Bankshares now uses Jack Henry’s Banno for online banking.
  • UN Migration Agency Selects Kony to Accelerate Digital Strategy to Reach More Migrants.

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

  • 44 Alums Populate CB Insights’ Fintech 250 List.

Around the web

  • ProfitStars named a 2017 Top Workplace by The Tennessean for Third Consecutive Year.
  • Top Image Systems seeing momentum from eFLOW AP solution in 2017.
  • Digiliti Money (formerly Cachet Financial) adds new features to its Select Mobile Deposit and Select Business Merchant Capture solutions.
  • CNBC: Tradeshift hoping to ready initial public offering.
  • CoverHound partners with eHealth to expand insurance ecosystem for consumers and small business owners.
  • Payfone to unveil “One-Time Password-Killer.”

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

  • Stratumn Lands $7.8 Million, Forms Strategic Partnership with NASDAQ.
  • Check out previews of upcoming FinDEVr London presentations next week:

Around the web

  • Bankjoy partners with SafeAmerica CU to build new omnichannel banking platform.
  • SumUp hires Ryan O’Connor as Managing Director for the U.S.
  • Top Image Systems consolidates Executive Management Team.
  • Solomoto and Bluevine partner to offer credit lines and digital marketing to small businesses globally.
  • Mastercard launches comprehensive digital payment solution for small and midsized businesses.
  • Independent Bank to leverage Insuritas to serve the bank’s 250,000+ customers.
  • Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, joins Pendo Systems’ board.

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

  • Thoma Bravo to Acquire Lexmark’s Kofax

Around the web

  • Top Image Systems selected by CIOReview as one of the 20 Most Promising SAP Solution Providers of 2017.
  • KTLA features password management platform Dashlane.
  • MapD partners with Continuum Analytics & H2O.ai, to form the GPU Open Analytics Initiative.
  • Thinking Capital to offer SMB financing options to TouchBistro POS clients.

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.

Why PropTech and MortgageTech Are the Future of Fintech

If this is the first time you’ve heard the term proptech, it won’t be the last. Proptech (also known as real estate tech or REtech) and its subset mortgagetech have been around since 2014. Here’s why 2017 is poised to place proptech among the ranks of wealthtech, insurtech, regtech.

This year has already been favorable to mortgagetech and proptech companies. SoFi, for example, is about to close a massive, $500 million round, its competitor LendingHome topped $1 billion in mortgage loan originations last year, and RealtyShares has seen over $300 million raised on its platform. According to CB Insights, since 2012 the real estate technology sector has closed 817 deals worth $6.4 billion. Of that amount, $2.6 billion closed in 2016 alone, which represents a 40% increase from that sector’s funding in 2015.

In the U.S., there are a handful of reasons 2017 will be favorable to real estate. Interest rates are projected to rise for the second time, millennials are starting to buy their first homes, and investors are looking to diversify out of the volatile stock market. On top of all of this, regulations are slated to loosen under the Trump administration, and changing in regulation brings opportunities for innovation.

Players

The broader category of proptech can be broken down into four basic segments.

1- Mortgagetech
These are mostly B2B companies specifically focused on facilitating part of all of the mortgage application process. They do not lend or service the loan.

2- Digital mortgage lending companies
These online lenders facilitate the mortgage application process and service the loan.

3- Real estate investment tech
Companies in this category are focused on the investment aspect of commercial and residential real estate.

4- Pure property plays
These don’t have a fintech angle but play a role in the broader proptech industry. Since this category is out of scope for this blog, this list only encompasses a fraction of companies in this category. Check out CB Insights’ coverage of commercial real estate technology for more.

What’s ahead in 2017

  • Expect to see more mortgagetech-bank partnerships along the lines of Roostify’s recent deal with JP Morgan Chase. As banks try to gain a competitive edge for market share, more established banks will need to leverage mortgagetech offerings.
  • We’ll see more niche alt-lending solutions such as SoFi that facilitate the application process and save borrowers on closing costs.
  • Expect to see more players offering real estate investment technology, coupled with some consolidation in real estate crowdfunding companies.
  • Outside of fintech, we’ll see more platforms aimed at cutting out the middle person, the realtor; and more business models such as Knock and GoldenKey that make the selling process easier.

You don’t have to take my word for it

We posed the question, How do you see proptech/ mortgagetech growing in 2017? to these Finovate alums working in the space. Here’s how they responded:

BhatRajesh Bhat, CEO and cofounder of Roostify:

“We expect to see further widescale adoption of digital mortgage solutions – to the point where one should expect it to be table stakes in 2018. We should also expect to see more players emerge in the space as investors see larger market adoption and validation.”

 

Screen Shot 2017-02-23 at 9.52.53 AMLinda Schicktanz, Chief Advisor of CK Mack*:

“If there is one area ripe for fintech innovation, it’s real estate investing. Why put 30% down just to gain massive management headaches when you can now invest in rental cashflow online with very similar returns? Fintech and Real Estate are like peanut butter and jelly, they just go together!”

Screen Shot 2017-02-23 at 8.30.31 AMNima Ghamsari, cofounder and CEO at Blend:

“There is going to be an explosion in the use of data driving the mortgage process in 2017. Both Freddie Mac and Fannie Mae have announced their data initiatives toward the end of 2016, and lenders are starting to push consumer financial data aggregation into the core components of their customer experiences. This ties in nicely to the industry-wide push forward to a more digital, end-to-end process that started in 2016.”

Screen Shot 2017-02-24 at 4.07.54 PMJilliene Helman, CEO at RealtyMogul

“The impact of digital technology on the real estate industry and mortgage technology is still in its infancy, but I see both less experienced and more sophisticated investors, alike, moving toward a process that takes place entirely online. With over $250 million of capital invested and 100,000 registered investors on the platform, RealtyMogul.com is a testament to this change. The more that technology can offer real estate borrowers and lenders transparency, as well as the efficiency of process and convenience, the faster both sides will adapt.”


*Full disclosure: I’m related to Linda Schicktanz. Yup– she’s my mom.

Finovate Alumni News

On Finovate.com

  • “Hip Pocket Closes $150k Round of Funding”

Around the web

  • German consumer goods manufacturer selects end-to-end AP automation solution from Top Image Systems.
  • Wipro teams up with Microsoft Accelerator.
  • Evry signs $83 million deal with Handelsbanken.
  • Business Insider features Betterment’s new business offering.
  • DAVO Technologies partners with ABC Financial.

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 Alumni News

On Finovate.com

  • “Five Degrees Raises $10 Million in New Funding”

Around the web

  • Through partnerships with Arvest Bank and First Tennessee Bank, D3 Banking adds 1+ million users to its digital banking platform.
  • Jack Henry partners with Early Warning to offer P2P payment service Zelle to FI clients.
  • TIS deploys cloud-based forms-processing integrated with Salesforce for electricity supplier Powercor Australia.
  • Credit Karma expands operations to Canada.
  • Lending Robot files to form pooled investment fund.
  • Xero launches Xero HQ for accountants and bookkeepers.

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.

FinovateAsia Sneak Peek: Top Image Systems

topimagesystems_homepage_october2016

A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Top Image Systems’ eFLOW Trade Docs is an end-to-end solution that enables financial institutions such as banks to conduct automatic recognition, learning, validation, and screening.

Features:

TIS’ eFLOW Trade Docs automates and streamlines trade-finance processes in three areas:

  • Document classification and data extraction
  • Document sufficiency and data validation
  • Document screening

Why it’s great
TIS’ eFLOW Trade Docs increases trade-finance processing-efficiency and -capacity while reducing processing errors and costs, bringing to your bank happier customers and higher revenues.

karatham_topimagesystemsPresenters

Kara Tham, Sales Director (Asia)
With more than 15 years of experience in consultative and solution sales, Tham has successfully crafted creative and innovative solutions for establishments within the banking industry on a global level.
LinkedIn

 

weihaogoh_topimagesystemsWei Hao Goh, Head, Technical Account Manager
Goh specializes in providing thought leadership to banking operations, focusing on intelligent document content capture and trade finance document processing.
LinkedIn