Finovate Alumni News

On Finovate.com

  • Ripple Selects Singapore for New Asia Office.
  • ayondo Remains a Private Company after Reverse Takeover Bid Lapses.

Around the web

  • nCino opens office in London, positioning itself for continued international growth.
  • Inetco adds data access options.
  • WorkFusion teams with Virtusa to Launch AI-Powered Bank Sanction Screening Solution.
  • InComm Continues Nationwide Expansion of Tolling and Transit Program.
  • In the face of consumer skepticism, Worldpay develops SDK for IoT shopping.
  • AutoGravity Surpasses $1 Billion USD In Finance Amount Requested, Launches Real-Time Dealership Inventory Nationwide.

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.

WorkFusion Closes $35 Million in Funding

Screen Shot 2017-01-26 at 8.53.41 AM

Today’s investment in WorkFusion is a reminder that AI is one of the hottest trends in fintech. With AI already proving to be one of the hottest trends in fintech this year, the news of today’s investment is not surprising. The AI automation company announced today it raised $35 million in a round led by Georgian Partners. Existing investors Mohr Davidow Ventures, iNovia, Nokia Growth Partners, Greycroft, and RTP Ventures also participated in the Series D round, bringing the company’s total funding to $71 million.

New York-based WorkFusion plans to use the funds to “accelerate customer adoption of AI-powered automation.” Justin LaFayette, Managing Partner at Georgian Partners said he invested in WorkFusion because it “has made machine learning practical and powerful for enterprise operations.”

Founded in 2010, WorkFusion leverages self-learning and automation to eliminate manual, back-office work. The company also offers AI-powered chatbots to assist with front-office operations. At FinovateFall 2014, WorkFusion debuted Active Learning Automation, a system that actively tracks human work to establish patterns and automatically trains algorithms to follow those patterns.

The company highlighted a number of its 2016 successes in today’s press release:

For further coverage, check out our Finovate Debuts feature on WorkFusion.

Finovate Alumni News

On Finovate.com

  • WorkFusion Closes $35 Million in Funding

Around the web

  • Klarna teams up with ASOS Partners to bring “pay after delivery” to Nordics.
  • Luxembourg’s Rakuten Europe Bank goes live with core and digital banking technology from Temenos.
  • Wipro to acquire Brazilian IT banking services provider, InfoSERVER.
  • Let’s Talk Payments interviews Kontomatik CEO Marcin Truszel.
  • Financial transactions optimized using Nomis Solutions technology exceeds $1.5 trillion in 2016.
  • Finextra: Worldpay partners UnionPay for bumper Chinese New Year.
  • Truphone launches Global SMS recording solving the Blackberry migration challenge.
  • Sberbank launches a new corporate online banking platform designed together with IBM iX.
  • WISeKey partners with Stratumn to use Blockchain for real-time accountability and traceability.

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

  • CurrencyCloud Taps Former Misys Executive Ed Addario as New CTO.
  • Quicken to Leverage PayNearMe’s Prism API.

Around the web

  • Gillian Davies joins Boku as new CFO.
  • Paducah Bank to launch Insuritas insurance agency platform to drive fee income.
  • The Banker interviews Avoka European GM, Richard Austen.
  • Investopedia profiles Chicago-based robo advisor, M1 Finance.
  • Forrester features WorkFusion in list of important AI technologies in 2017.
  • HelloWallet unveils version 5.0 with improved app navigation and streamlined dashboard.

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

  • “Social Trading Company ayondo Appoints New CFO Prior to Reverse Takeover IPO”
  • “Ignite Sales Taps Ex-Fiserv SVP as New CEO”
  • “VoicePIN Launches New SaaS Model for SMEs”
  • “Realty Mogul Reaches $200 Million in Funded Real Estate Transactions”

Around the web

  • Markit adds Federal Republic of Germany to derivatives trade-management service.
  • FIS introduces Banking by Appointment with TimeTrade.
  • Zopa partners with UNSHACKLED.com to offer cell phone financing.
  • RegTech event sponsored by BBVA features presentation by Ayasdi.
  • Infosys wins five-year contract with Commerzbank.
  • Temenos welcomes new core banking client, BMO Asia Pacific.
  • Fiserv adds ten years to its loan processing, private-label credit partnership with John Deere Financial.
  • Buzz Points and Xtend partner to provide new loyalty rewards program to credit unions.
  • Bloomberg features TradeSafe, a distributed ledger from Standard Chartered and DBS Group that uses Ripple.
  • eSignLive unveils new UX featuring responsive design.
  • TechCrunch column on APIs features Signifyd, Plaid, and Twilio.
  • The Law of Startups interviews B.J. Lackland, Lighter Capital CEO.
  • WorkFusion earns recognition from Gartner in its “Cool Vendors in Smart Machines” 2016 report.
  •  Guardian Analytics introduces a certification program to help fraud examiners become familiar with the Guardian Analytics platform.
  • Crowdfund Insider interviews Emmanuel Marot, LendingRobot CEO.
  • Comarch launches prototype of wealth management app for virtual reality.

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

  • “TIO Networks Closes Purchase of Softgate Systems”
  • “Narrative Science Turns Business Intel into Data-Driven Stories”

Around the web

  • Top Image Systems inks a pair of banking process automation deals worth $700,000.
  • iSignthis brings its KYC technology to Chinese e-payment leader, YeePay.
  • WorkFusion and VirtusaPolaris team up to provide smart automation solutions for companies in banking and financial services.
  • Misys launches FinCloud, a new range of cloud solutions and global cloud environment.
  • Capgemini consulting services adds risk- and fraud-management technology from FICO.
  • Ignite Sales powering Regions Bank’s guided selling tool.
  • Ping Identity releases new Knowledge Center, a customer support and documentation portal

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.

 

WorkFusion Raises $14 Million Series C Round Led by Nokia Growth Partners

WorkFusion_homepage_Mar2015

Here’s some investment news we missed when it broke in late December: WorkFusion, a company that combines machine learning and crowdsourcing to automate business processes, raised $14 million in Series C investment. The round was led by Nokia Growth Partners, and featured participation from existing investors Greycroft Partners, iNovia Capital, Mohr Davidow Ventures, and RTP Ventures.

The investment takes WorkFusion’s total capital to more than $36 million. The company says the new funding will help fuel its business development initiatives around the world.  

WorkFusion_stage_FF2014

Pictured: WorkFusion CEO Max Yankelvich demonstrating his company’s Active-Learning Automation technology at FinovateFall 2014 in New York.

Calling 2016 “the year of automation,” Yankelvich pointed out that WorkFusion’s customers have reduced operational costs by 60% and gained what he called “business agility.” For financial services companies, WorkFusion’s SaaS technology is deployed for customer onboarding, claims processing, and compliance, among other processes.

Among the more recent financial services companies to deploy WorkFusion’s technology is fellow Finovate alum, Markit, which announced its partnership with the machine learning specialist in February. The company has been profiled recently in the New York Business Journal, as well as in  AlleyWatch, which features a Q&A with WorkFusion VP of Marketing, Adam Devine.

Founded in 2010 and headquartered in New York City, WorkFusion demonstrated its Active-Learning Automation platform at FinovateFall 2014. Eighteen out of the top 20 information services businesses use WorkFusion’s technology, as do leading financial, global commerce, and business process outsourcing providers. Check out our Finovate Debut post featuring WorkFusion.

 

Finovate Alumni News

On Finovate.com

  • “Personal Capital Exceeds $2 Billion AUM”
  • “WorkFusion Raises $14 Million Series C Round Led by Nokia Growth Partners”
  • “DoubleNet Pay, Token Earn Spots at Plug and Play Accelerator”
  • “SocietyOne Appoints Former WestPac Exec as CEO”

Around the web

  • Payoneer powers international payments for South American e-commerce merchant, Linio.
  • TSYS certifies the new mobile EMV solution from Handpoint.
  • Global Retail Banker interviews Dilip Rao, head of business development and operations for Ripple in the Asia-Pacific region.
  • “Micronotes Names Artificial Intelligence Innovator and MIT Expert Dr. Luis Perez-Breva to Board of Advisors”
  • “Avoka Named Top Ten FinTech Worldwide by KPMG”
  • Notable features Financeit’s COO, Casper Wong.

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

  • “ThreatMetrix Launches Digital Identity Graph”

On FinDEVr.com

Around the web

  • Markit to deploy smart automation technology from WorkFusion.
  • Ethoca teams up with Pegasystems to help fight ecommerce fraud.
  • Michigan First Credit Union ($764 million in assets) picks Insuritas to open and run turnkey insurance solution.
  • Finance Magnates shines on Credit Karma and BillGuard in its Fintech Spotlight.
  • Check Point launches Check Point R80 to help consolidate the security environment.
  • Coinbase now lets users buy bitcoin instantly with a debit card.

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:

  • Xignite Raises $20 Million in New Partnership with Tokyo’s QUICK Corporation.

Around the web:

  • Tandem, a British banking startup launched by Azimo co-founder Ricky Knox, selects the Agility platform from Fiserv.
  • Barclays and Xero forge strategic partnership.
  • Indiana’s Old National Bank completes online and mobile-banking transition to Digital Insight.
  • Let’s Talk Payments features Ayasdi, Context Relevant, and WorkFusion in a roundup of startups helping companies innovate with artificial intelligence.

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.