Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

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Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

  • HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

 

Finovate Alumni News

On Finovate.com

  •  Luxoft Acquires UNAFORTIS to Broaden Client Base within Financial Services.
  • EVRY Announces Five-Year, $18.7 Million Deal with Finland’s Aktia Bank.
  • OurCrowd Opens Office in Spain, Lays Down Roots with Strategic Partnership.

Around the web

  • Trulioo launches its Global Business Verification service.
  • Diebold partnership with Transguard to expand service and technology offerings in the UAE.
  • Ethiopia’s Cooperative Bank of Oromia goes live with core banking solution from Temenos.
  • Pindrop Security leverages machine learning and a “customer consortium of shared fraudsters” to introduce Pindrop Protect 4.0.
  • Quovo unveils new account authentication solution, Autoverified Micro-deposits.
  • Xero partners with UK fintech Curve to automate expense management.
  • Zopa searches for new borrowers through Saffron Building Society loan partnership.
  • Sberbank, Russia’s Largest Bank, Announces Payment Solution.
  • DefenseStorm Renews SOC 2 Compliance.

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

  • Urban FT Bids to Acquire Digiliti Money.

Around the web

  • First Tennessee Bank goes live with mobile banking app from D3 Banking.
  • Alpha Payments Cloud partners with Australia Post to launch Alpha Commerce Hub.
  • IBM Singapore inks memorandum of understanding with Pacific International Lines to trial blockchain-based, supply chain solutions for businesses.
  • Trulioo’s Global Gateway earns first place in the Verification/Identity Checks category of Market Fintech Limited’s 2017 RegTech Performance Report.
  • FICO Customer Communications Services helps China Guangfa Bank Credit Card Center lower collection costs.
  • Liferay launches initiative to provide new resources for its open source developer community.
  • Featurespace selected by IATA to provide leading fraud protection solution.
  • Bluefin Payment Systems and ACEware Systems Partner for PCI-Validated P2PE.

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

  • Alpharank Among Startups Graduating from VC Fintech Accelerator Empowered by FIS.
  • Juvo Raises $40 Million in Round Led by NEA, Wing Venture Capital.
  • Klarna Unveils Free P2P Payments Service, Wavy.

Around the web

  • Fiserv acquires mortgage tech solutions provider, PCLender.
  • Consorsbank picks technology from Germany’s figo to power its multibanking service.
  • PayU Colombia to deploy SaaS-based core banking technology from Mambu.
  • Trulioo’s GlobalGateway platform coverage extended to six Latin American countries.

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

FinDEVr APIntelligence

Our first developers conference in the U.K. is next month. Join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

On FinDEVr.com

  • Trulioo and the Regtech Revolution: How Smaller Teams Tackle the Compliance Challenge.
  • Inside BBVA’s Open API Marketplace

Alumni updates

  • NuCypher earns finalist spot in BBVA Open Talent 2017. Join NuCypher at FinDEVr London, Jun 12 & 13.
  • Expensify exceeds 35,000 global customers, adding Xero, HappyFresh, GoCardless, and Adroll as clients
  • Cisco and IBM team up on security.
  • Glenmede taps IHS Markit for data management.
  • Bank of Sydney replaces its digital banking platform with DigitalAccess from Fiserv.
  • eWise integrates its Aegis data aggregation platform into Backbase’s Open Banking Marketplace.
  • Xero Partners with Expensify for In-House Expense Management.
  • PYMNTS.com features The CardLinx Association’s success.
  • Xero expands online-invoice payment options in Xero for Australia.
  • Worldpay tests payments in virtual reality

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • Caxton Leverages the Blockchain to Provide Faster, Safer, API-Free Connectivity.
  • Trulioo and the RegTech Revolution: How Smaller Teams Tackle the Compliance Challenge.
  • CUneXuscplXpress to Power One-Click Loans for MeridianLink.

Around the web

  • Symphony Software Foundation announces its latest Gold Member, Ipreo.
  • BBVA unveils open API marketplace.
  • Fiserv launches cybersecurity for digital banking solution, SecureNow.
  • Trustly partners with Nordic online fashion retailer, Boozt.com.
  • AutoGravity wins 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award.
  • Fonetic and Actiance partner for trade reconstruction.
  • IHS Markit launches Outreach360 platform on Counterparty Manager.

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 Alums Prepare for Citi Tech for Integrity Challenge Finals

For the the next month or so, we’re calling a bunch of Finovate alums the “Awesome Eight”. Citi revealed the finalists for its Tech for Integrity Challenge (T41) Demo Days competition last week. And out of the more than 1,000 entries, eight of the 103 finalists are alumni of Finovate and/or FinDEVr conferences.

Speaking at the launch of the Tech for Integrity Challenge earlier this year, Citi global head of the public sector group in charge of corporate and investment banking, Julie Mocaco said, “By supporting open innovation and providing innovators with the tools they need to develop ideas, we hope to help solve some of the biggest challenges that the public sector faces.”

The Challenge encourages technology companies to develop solutions that “promote integrity, accountability, and transparency in the public sector.” Competition organizers crowd-sourced a set of “pain points” ranging from financial transactions and information security to analytics and financial crime to provide contest participants with potential “solution areas” in which to innovate. The 103 finalists are presenting their pilot-ready technologies at live demonstration events in Abu Dhabi, UAE; Dublin, Ireland; Mexico City, Mexico; Buenos Aires, Argentina; Singapore; and Hyderabad, India from mid-May through mid-June.

Here’s a look at the eight alums. Click on the company logo to visit their website.

 

 

DigiByte Holdings

  • Headquartered in Santa Monica, California
  • Founded in 2015
  • Raised $250,000 in funding
  • Jared Tate is President
  • Demoed at FinovateSpring 2016; Presented at FinDEVr 2016 New York

 

identitii

  • Headquartered in Sydney, Australia
  • Founded in 2014
  • Nick Armstrong is CEO and co-founder
  • Demoed at FinovateFall 2016

 

 

 

 

iProov

  • Headquartered in London, UK
  • Founded in 2011
  • Andrew Bud is CEO
  • Demoed at FinovateEurope 2017

 

 

Moxtra

  • Headquartered in Cupertino, California
  • Founded in 2012
  • Raised $20 million in funding
  • Subrah Iyar is CEO
  • Demoed at FinovateSpring 2017

 

 

 

Neener Analytics

  • Headquartered in San Jose, California
  • Founded in 2014
  • Jeff LoCastro is CEO and co-founder
  • Demoed at FinovateSpring 2017; Won Best of Show

 

 

NICE

  • Headquartered in Ranana, Israel
  • Founded in 1986
  • Publicly traded with market capitalization of $4.4 billion
  • Barak Eilam is CEO
  • Demoed at FinovateEurope 2015

 

NuCypher

  • Headquartered in San Francisco, California
  • Founded in 2016
  • Investors include Base Ventures, Mission and Market, NewGen Capital, Y Combinator
  • MacLane Wilkison is CEO
  • Presented at FinDEVr 2017 New York
  • Selected to present at FinDEVr 2017 London

 

 

 

Trulioo

  • Headquartered in Vancouver, British Columbia, Canada
  • Founded in 2011
  • Raised $23.3 million in funding
  • Stephen Ufford is CEO and founder
  • Demoed at FinovateFall 2016; Presented at FinDEVr 2014 Silicon Valley

See the full list.

Winners of the Citi Tech for Integrity Challenge will be announced in June. One or more finalist will receive a cash award as the Global T4I award recipient(s). The Demo Days events will also feature Audience, Peer’s Choice, Citi and Ally awards, as well. Partnering with Citi as strategic allies are companies including IBM, Microsoft, Facebook, Let’s Talk Payments, pwc, Clifford Chance, and Mastercard.

FinDEVr APIntelligence

Our first developers conference in the U.K. is just over a month away. Join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

On FinDEVr.com

  • Trulioo Bolsters Regtech Solution with Mitek Partnership

Alumni updates

  • Trulioo Bolsters Regtech Solution with Mitek Partnership
  • Greenkey Technologies announces interconnection partnership with iMarket.
  • FinDEVr alum OutSystems expands to Asia with new office in Japan.
  • Ohio-based First National Bank of Pandora chooses core account processing platform from Fiserv.
  • Xero announces new partnership with Capital One to give SMEs more control over their data.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Six Alums Earn a Spot on on CNBC’s Disruptor 50 List

CNBC released its 2017 collection of 50 disruptive tech companies today. The fifth annual list names private companies “whose innovations are changing the world” and meet additional criteria according to CNBC’s methodology.

The list, which boasts 31 unicorns, includes household names such as Airbnb, Uber, and SpaceX. The 50 companies have an aggregate market valuation of $239 billion, and almost 20% of the list consists of fintech companies, six of which are Finovate and/or FinDEVr alums.

Trulioo
Identity verification specialist for AML/ KYC compliance
Rank: 37
Launched: 2011
Funding: $23.3 million
Showcased GlobalGateway at FinovateFall 2016

Payoneer
Global mass payout service platform
Rank: 40
Launched: 2005
Funding: $234 million
Debuted the Payoneer Commercial Account at FinovateAsia 2013

SoFi
A unique, online lending company that prides itself on social finance
Rank: 45
Launched: 2011
Funding: $1.9 billion
Presented its use of Quovo’s authentication API at FinDEVr New York 2017

Persado
Automated marketing messaging company
Rank: 48
Launched: 2012
Funding: $66 million
Debuted PersadoGo at FinovateEurope 2016

Quid
Offers unstructured data analysis
Rank: 50
Launched: 2010
Funding: $56.2 million
Demoed Opus at FinovateSpring 2016