Author: David Penn

Vymo Brings AI-Powered Sales Coaching to Insurance Giant Sompo

Vymo Brings AI-Powered Sales Coaching to Insurance Giant Sompo
By David Penn Posted on
Categories: Vymo

One of the largest insurance groups in Asia, Sompo Holdings, is turning to AI to help its field sales teams spend less time consulting and updating customer information on databases, and more time building relationships with actual customers.

The Japan-based insurer announced that it has partnered with Vymo to use the company’s AI-powered, mobile-first sales assistant technology to boost the efficiency and productivity of its agents. The agreement follows a successful pilot project between the two companies that was launched in September.

Vymo demonstrated its Intelligent Personal Sales Assistant technology at FinovateAsia 2018. The app uses contextual intelligence and proactive sales coaching to automatically detect the sales representative’s actions and provide guidance on the optimal next steps to improve outcomes. In addition to leveraging dialler and client integrations and geo-intelligence to automatically log sales activity such as calls, emails, and meetings, Vymo learns from the success of the best performing sales professionals to help others on the platform determine how to better prioritize leads and best engage customers.

“At a leadership level , Vymo enables decision-makers to understand where should the sales and development efforts be,” Anurag Srivastava, Vymo VP-APAC explained last year during his FinovateAsia technology demonstration. At a manager level, he added, the technology solution helps them understand what the sales people are doing on a daily basis, as well as how they can constructively intervene to help them to become better. Srivastava noted that the solution also makes life easier for sales professionals, helping them meet their numbers and “gain predictability into what they are doing.”

Vymo earned a finalist spot in the India FinTech Forum’s IFTA 2019 awards last month. This fall, the company partnered with ABeam Consulting in a move that will help Vymo further expand into Asia-Pacific and Japanese markets. Also this fall, Vymo teamed up with FE Credit, the consumer lending arm of VP Bank to help the Vietnam-based financial institution improve customer acquisition, lead generation, and onboarding. Vymo raised $18 million in funding earlier this year, taking its total capital to $22 million

More than 100,000 sales professionals in 50+ businesses use Vymo’s Intelligent Personal Sales Assistant technology. The company notes that its solution has helped sales teams experience a nearly 2x increase in productivity and sales gains of 30%-50% within the first three months of deployment.

Yamini Bhat is Vymo co-founder and CEO. Founded in 2013, the company is headquartered in New York City.

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Klarna Picks Amazon Web Services as Preferred Cloud Provider

Klarna Picks Amazon Web Services as Preferred Cloud Provider
By David Penn Posted on
Categories: Klarna

Having already worked with Amazon in the past, Swedish banking firm Klarna has reinforced its reliance on Amazon Web Services (AWS) to increase redundancy and fault tolerance as it aims to scale its business, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication).

The company also plans to follow up the launches of its cloud-based Open Banking platform and customer authentication platform with additional on-demand products using AWS.

“Together with AWS we share a relentless focus on providing choices to consumers, so they no longer have to settle for the status quo,” said Koen Koppen, chief technology officer at Klarna.

“Our collaboration with AWS has helped us to rapidly innovate and create new services and applications that customers want, in a secure and seamless way.”

Andy Isherwood, managing director for AWS EMEA, added that Klarna is going to “change the world” with cloud technology.

“We have worked with Klarna for over a decade and it has been inspiring to see them grow from a Swedish startup to a global financial services powerhouse, using the secure, proven infrastructure of AWS,” Isherwood said.

Klarna raised $460 million in equity funding back in August, which at the time valued the company at $5.5 billion. Klarna reiterated at the time its intention to focus on an expansion into the U.S. market.

The company demonstrated its technology at FinovateSpring 2012. Headquartered in Stockholm, Sweden and founded in 2005, Klarna has 80 million shoppers on its platform and partnerships with 190,000 retailers around the world. Company co-founder Sebastian Siemiatkowski is CEO.

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Finovate Alumni News

By David Penn Posted on
Categories: 24sessions, Exate, Klarna, Revolut, Signicat, Temenos, Vymo

On Finovate.com

  • Vymo Brings AI-Powered Sales Coaching to Insurance Giant Sompo
  • Klarna Picks Amazon Web Services as Preferred Cloud Partner

Around the web

  • Trusted digital identity specialist Signicat partners with payment information service SurePay.
  • 24sessions opens doors at its first regional office in Paris, France.
  • Revolut for Business introduces support for GBP Direct Debits.
  • eXate joins the first cohort of the Velocity Birmingham Fintech Hub.
  • Temenos appoints Michelle Tea as Managing Director for Australia, New Zealand, and the Pacific islands.

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.

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FinovateMiddleEast Best of Show Winners Announced

FinovateMiddleEast Best of Show Winners Announced
By David Penn Posted on
Categories: Amber Labs, Best of Show, Efigence, FinovateMiddleEast 2019

Our second FinovateMiddleEast conference is in the books! And after a full day of live fintech demos, our attendees have made their voices heard as to which fintech innovations are most deserving of Best of Show honors. Congratulations to all of our demoing companies for their hard work, and a hearty thanks to our attendees for their votes in our Best of Show competition.

With that, here are the winners of Best of Show at FinovateMiddleEast 2019:

Amber Labs for its Bitcoin Bank, where people anywhere in the world can get all the benefits of a robust, global financial network, without the technical and jurisdictional restrictions, nor the inherent asymmetries, associated with the modern banking system. Video.

efigence for its EFI4 Digital Banking Platform, a seamless digital banking experience that guides retail banking customers through the complexity of the banking world using a three-screen environment. Video.

In addition to all of the companies that demonstrated their technologies live on stage at FinovateMiddleEast this week, we would like to thank our partners and sponsors for their participation and support. We also extend a special thanks to our Strategic Partner, the United Arab Emirates Ministry of Finance, whose guidance in this our second FinovateMiddleEast has been invaluable.

Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The two companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2019 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018
FinovateSpring 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019

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Nigerian Fintechs Near $400m Week; Ant Financial Eyes License in Singapore

By David Penn Posted on
Categories: Avaloq, CredoLab, Finastra, Finovate Global, Neener Analytics, Revolut, Tradeshift, Vymo, ZagTrader

The nearly-$400 million poured into fintech companies in Nigeria alone this week is being remarked upon as a testament to the growing investor interest in sub-Saharan Africa. The three recipients of the new capital in recent days are OPay ($120 million), Interswitch ($200 million), and PalmPay ($40 million). The investors include Sequoia Capital China and SoftBank Ventures Asia, as well as China’s Transsion and Visa.

For comparison, African fintechs raised $357 million in all of 2018, according to a 2019 report from the GSM Association, The Mobile Economy, Sub-Saharan Africa. Quoted in the Financial Times on the week’s funding news, Guaranty Trust Bank chief executive Segun Agbaje credited the payments industry for the surge in investment, calling the growth in the sector “probably like no other on the continent.”

Finovate made its African debut last year in Cape Town, South Africa. For an in-depth look at recent trends in African fintech, check out Jonathan Gregson’s “Africa’s Fintech Makeover.”

China’s impact on international fintech is also evident in the news that Ant Financial is considering applying for a virtual banking license in Singapore. Successfully securing such a license would enable Ant Financial to compete against Chinese incumbents like DBS Group Holdings and Oversea-Chinese Banking Corp. Ant Financial secured a license to operate a digital wallet in Hong Kong last year.

Latin America and the Caribbean

  • Brazil’s digital bank Neon raises $94 million in round led by General Atlantic and Brazil Banco Votorantim.
  • Biz Latin Hub’s Craig Dempsey makes the case for Mexico as the fintech sector to watch in 2020.
  • Mexican non-bank wallet service Todito Cash inks partnerships with four financial payment solutions companies.

Asia-Pacific

  • Ant Financial may be one the hunt for a Singaporean virtual banking license, reports Bloomberg, following the online finance titan’s recent scoring of a license to operate a digital wallet in Hong Kong.
  • InstaReM rebrands as Nium, announces cross border payments partnership with Cambodian banking group, PhillipBank.
  • Indonesia’s biggest banking group, Bank Mandiri will use the Avaloq’s Banking Suite to run its wealth management division, which has $14 billion in assets under management.

Sub-Saharan Africa

  • Nigeria’s OPay raises $120 million in new funding. The investment adds to the $50 million the mobile payments service raised in June.
  • Asilimia, a Kenya-based fintech that helps SMEs access more efficient mobile payment solutions, secures $350,000 in funding.
  • South African digital commerce fintech Vectra wins Seedstars Cape Town competition.

Central and Eastern Europe

  • Revolut reaches 250,000 users in Hungary and reports an 8x gain in monthly transaction volume since the beginning of the year.
  • Latvia-based, P2P lending platform TWINO surpasses €1 billion euros in originated loans.
  • Tradeshift moves Bucharest team to larger office in Tower Center, announces plans to hire more staff next year.

Middle East and Northern Africa

  • A partnership between BPC and WeNet will bring a new instant payments system to Yemen.
  • ZagTrader wins full certification for its market making technology from Bourse Kuwait.
  • In partnership with the Dubai Financial Services Authority, Wethaq pilots Sukuk issuance on its securities market infrastructure.

Central and Southern Asia

  • Perfios, a fintech software company based in Bengaluru, raises $50 million from Warburg Pincus and Bessemer Venture Partners.
  • Pakistan’s Askari Bank selects Finastra’s trade finance solution.
  • CredoLab, Neener Analytics, and Vymo win finalist spots in the India FinTech Forum’s IFTA 2019 awards.

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Tyro Payments Preps for IPO

Tyro Payments Preps for IPO
By David Penn Posted on
Categories: IPO, Tyro

Australian paytech Tyro Payments is vying to float on the Australian Securities Exchange (ASX) in an initial public offering (IPO) which is projected to raise up to $173.23 million (AUD 252.7 million), reports Ruby Hinchliffe of Fintech Futures (Finovate’s sister publication).

The Sydney Morning Herald reported that the 2003-founded firm, which said it’s Australia’s fifth-largest payments provider, is pursuing a $1 billion valuation too.

Targeting small and medium-sized businesses, Tyro offers an electronic funds transfer point of sale (EFTPOS) service, as well delivering online payments, business bank accounts and business loans.

The plan to float on the ASX comes after six listings on it were aborted last month, suggesting Australia’s IPO market is not easy to break into. Reuters puts this down to investors demanding lower prices to protect themselves against the possibility of post-float losses.

With a price range of $1.70 to $1.87 per share, the paytech said its focus still “remains firmly on challenging the status quo” for its merchants.

Despite net losses of $18.6 million in the last fiscal year, existing investors, including Tiger Global, TDM Growth Partners, Telstra’s CEO David Thodey and Australian billionaire, Mike Cannon-Brookes, will wait until Tyro’s 2020 financial reports before selling any shares.

Thodey, who is also Tyro’s chairman, said he’s delighted to be able to invite new shareholders. “We [can] build upon our solid foundation to pursue an exciting growth strategy,” he added in a statement.

Tyro Payments demonstrated its Smart Growth Funding financing solution at FinovateSpring 2017. The offering is the first lending solution released by an Australian challenger bank. Tyro provides integrated payment, deposit, and unsecured working capital solutions to SMEs, and partners with more than 200 point of sale providers and cloud-based accounting platform such as fellow Finovate alum Xero.

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Finovate Alumni News

By David Penn Posted on
Categories: BodesWell, Chatbots.Studio, CurrencyFair, Direct ID, Doxo, Enveil, Moneyhub, myGini, Plaid, Salt Edge, Tyro

On Finovate.com

  • Finovate Global: Nigerian Fintechs Near $400m Week; Ant Financial Eyes License in Singapore
  • Tyro Payments Preps for IPO
  • FinovateMiddleEast Best of Show Winners Announced.

Around the web

  • CurrencyFair introduces cross-border collections solution for marketplaces; inks partnership with Chinese wholesale marketplace, Buy-World.
  • Enveil wins $1 million contract from the Air Force Life Cycle Management Center (AFLCMC) to improve supply chain security.
  • MoneyHub, Salt Edge, Direct ID, and Plaid earn finalist spots in the Financial Data & Technology Association (FDATA) Awards 2019.
  • Chatbots.Studio to provide chatbot templates for Colvir Software Solutions end clients.
  • doxo expands doxoINSIGHTS to 900 cities.
  • Plaid makes inroads into France, Spain, and Ireland.
  • myGini named to the Benzinga Global Fintech Listmakers and recognized as a Best Payments App.
  • BodesWell joins FinMason’s FinSpring accelerator program

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.

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Signicat Inks Payments Verification Partnership with Twikey

Signicat Inks Payments Verification Partnership with Twikey
By David Penn Posted on
Categories: Signicat

A new partnership between verified digital identity specialist Signicat and Twikey will make it easier for merchants in Belgium and the Netherlands to accept digitally-signed SEPA e-mandates for recurring purchases. The arrangement will enable firms to reduce costs and improve efficiency by moving away from paper-based SEPA processes.

“By working with Twikey, we can offer a streamlined solution to the market where businesses are able to identify who they are dealing with online, build the mutual trust, and get an e-mandate for ongoing payments with their customers,” Signicat CEO Gunnar Nordseth said.

SEPA mandates provide an authorization that enables merchants to accept future and recurring payments for services such as rent and utilities. While such mandates have historically required consumers to make actual trips to the bank to sign paper authorizations, the partnership between Signicat and Twikey will allow consumers to sign SEPA e-mandates digitally.

Belgium-based Twikey enables businesses to better manage recurring payments to save money and time. Founded in 2013, the company’s technology also helps its customers get 70% to 97% of their invoices to recurrent customers paid in two days or less. Twikey founder Dominique Adriansens pointed to the growth in the company’s digital SEPA mandate business as a key reason for the partnership with Signicat.

“We have already more than 1 million consumers in Belgium and the Netherlands having signed SEPA mandates digitally,” Adriansens said. “In a lot of cases contracts need to be signed upfront and that’s where Signicat comes in.” He praised the company’s experience in deploying digital identity verification in Europe, calling Signicat “the ideal match for assisting companies in search of more digitalization.”

Signicat demonstrated a pair of digital verification solutions – Signicat Assure and Signicat Sign – at FinovateEurope 2017. As of this month, the company offers identity verification in 208 countries using identity document scanning, web-based video interviews, and NFC scanning of passports. Also this month, Signicat partnered with Swisscom Trust Services to integrate qualified e-signatures (QES) into its platform.

In October, Signicat introduced a handful of new platform capabilities, including a new interface and new third party integrations. Over the summer, the company purchased Norwegian digital identity firm, Idfy, one of the fastest growing digital trust companies in the region. Signicant also teamed up with open identity scheme for financial services, yes.com, earlier this year, helping streamline onboarding, authentication, and e-signatures for the German digital identity service.

Winner of the bobsguide’s Best Retail Banking System Integration Award – along with Rabobank – Signicat was acquired by Nordic Capital in April. Terms of the purchase were not disclosed. Prior to the acquisition, Signicat had raised $8.8 million in funding.

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More Than $1 Billion Raised by 21 Alums in Q3 2019

By David Penn Posted on
Categories: Funding, Fundings, Quarterly Funding

Finovate alums raised $1.1 billion in funding in the third quarter of 2019. The quarterly total represents a significant rebound over last year’s Q3 sum and is reminiscent of the third quarters from 2017 and 2015 in topping the $1 billion mark.

Previous Quarterly Comparisons

  • Q3 2018: More than $400 million raised by 19 alums
  • Q3 2017: More than $1 billion raised by 31 alums
  • Q3 2016: More than $500 million raised by 30 alums
  • Q3 2015: More than $1 billion raised by 40 alums

As our list of the quarter’s top equity investments below reveals, the $460 million fundraising from Klarna in August represents a significant amount of this year’s Q3 total. The investment, led by Dragoneer Investment Group, gave the Swedish ecommerce innovator a valuation of $5.5 billion and the title of the largest private fintech in Europe.

Also noteworthy was the $200 million raised by San Francisco, California-based payroll, benefits, and HR platform Gusto. Along with a pair of new participants Fidelity and Generation Investment Management, Gusto’s investors boosted the company’s valuation to $3.8 billion in the third quarter. There must be something special about Q3 and Gusto; the company’s previous $140 million in funding led the quarter’s top investments last year.

Top Ten Equity Investments for Q3 2019

  • Klarna: $460 million
  • Gusto: $200 million
  • Trulioo: $53 million
  • Credit Sesame: $43 million
  • Numbrs: $40 million
  • HackerOne: $35.4 million
  • Flybits: $35 million
  • Sezzle: $30 million (IPO)
  • Scalable Capital: $28 million
  • Kyndi: $20 million

Here is our detailed alum funding report for Q3 2019.

July 2019: More than $354 million raised by 10 alums

August 2019: More than $554 million raised by six alums

September 2019: More than $148 million raised by five alums

If you are a Finovate alum that raised money in the third quarter of 2019, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

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Keepabl Partners with ClauseMatch to Boost GDPR Compliance

Keepabl Partners with ClauseMatch to Boost GDPR Compliance
By David Penn Posted on
Categories: Keepabl

Privacy-as-a-Service solution provider Keepabl has partnered with regtech company ClauseMatch. The collaboration will enable Keepabl to better manage policies and procedures in accordance with General Data Protection Regulation (GDPR) guidelines, as well as with U.K. Privacy in Electronic Communications Regulations (PECR). At the same time, ClauseMatch will use Keepabl’s GDPR SaaS solution to manage its own privacy governance and GDPR obligations.

“Maintaining policies and procedures properly is of major importance for managing your risk and governance – and being able to show good governance is key when you’re winning business or being audited by customer or investors,” Keepabl CEO and founder Robert Baugh explained. “ClauseMatch allows us to organize all of our policies, procedures and controls in a structured manner on a single platform, available for the next review cycle and compliance checks, in an auditable format with all the track records of who did what presented in a complete audit trail.”

ClauseMatch CEO and founder Evgeny Likhoded credited Keepabl’s technology for making ClauseMatch’s privacy governance “simple and efficient.” Headquartered in London and founded in 2012, ClauseMatch provides smart document management, including real-time document collaboration solutions, for banks and other FIs. A member of CB Insights Fintech 250 and an alum of Barclays accelerator program, the company began the year working with another Finovate alum, Revolut, to help the digital bank meet regulatory and compliance requirements as part of its expansion to Singapore.

“We’re delighted to onboard Keepabl onto the ClauseMatch platform to make their policy management collaborative and auditable,” Likhoded said of this week’s alliance. “Our partnership is a great example of mutually beneficial collaboration between two RegTech companies creating a richer ecosystem and greater clarity and value for customers.”

Keepabl demonstrated its GDPR Compliance Platform at FinovateEurope 2019. The technology provides financial institutions with the resources they need – such as Article 30 records, Data Map analysis, Breach Response, and Processor Management – in order to remain compliant with GDPR regulations. Founded in 2017 by a 13+ year veteran implementer of compliance programs for mid-market organizations, Keepabl accounts for the fact that compliance issues like GDPR are typically the responsibility of human resources, marketing or IT teams rather than specialists in privacy issues. To this end, the company offers a cloud-based solution that makes it easier for both large and small FIs to both meet their compliance needs and, importantly, demonstrate their compliant status to partners and regulators alike.

Keepabl’s partnership with ClauseMatch is the London, U.K.-based firm’s latest collaboration this fall. In September, Keepabl announced that data discovery service provider Folding Space would join its Privacy Stack, an initiative launched by Keepabl that helps businesses stay abreast of GDPR compliance and other regtech solutions. Also that month, Keepabl and regtech company Alpha Reply agreed to work together to offer Alpha Reply’s customers a “holistic, practical, and flexible GDPR compliance service.”

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BlueVine Raises $102.5 Million in New Funding

BlueVine Raises $102.5 Million in New Funding
By David Penn Posted on
Categories: BlueVine, Funding

In a Series F round led by ION Crossover Partners, small business banking and financing firm BlueVine has raised $102.5 million in new funding. The investment takes the company’s total equity financing to more than $692 million, and will help the Redwood, California-based fintech scale its end-to-end banking platform, BlueVine Business Banking.

BlueVine will also use the capital to develop integrations with the company’s financing offerings, such as its line of credit, invoice factoring, and term loan products. The investment will support the hiring of additional talent for the company’s engineering, product, and revenue teams, as well.

“This funding further validates our mission and will help democratize true business-grade banking for small businesses who have been underserved for so long,” BlueVine CEO and co-founder Eyal Lifshitz said. He highlighted the company’s BlueVine Business Checking Account, introducedlast month, which offers small businesses an intuitive financial management dashboard and a debit Mastercard, as well as 1% interest on balances and no monthly fees.

“The recent launch of BlueVine Checking demonstrates our commitment to revolutionize banking for small business owners with a full suite of services designed specifically to meet their unique needs,” Lifshitz said.

This week’s funding featured a sizable number of participants, including all of BlueVine’s current investors, as well as new investors MUFG Innovation Partners, O.G. Tech – Eyal Ofer’s VC, Vintage Investment Partners, ION Group, Maor Investments and other private investors. ION Crossover Partners’ Jonathan Kolodny praised the BlueVine for its “track record of success” and the variety of financing solutions it offers small businesses.

“We’ve been following the company closely since its early days,” Kolodny said, “and have witnessed the demand, and frankly the economic need, for BlueVine’s banking services.” He added that BlueVine was poised to “change the way small businesses manage their financial needs today and in the future.”

BlueVine demonstrated its small business financing solutions at FinovateFall 2014. More recently, the company hired former PayPal executive Brad Brodigan as its Chief Commercial Officer, and appointed former Xero VP Herman Man as Chief Product Officer. Over the course of the year, BlueVine has teamed up with a variety of institutions ranging from its collaboration with GovQuote to its partnership with recruitment industry solution provider Bullhorn.

Founded in 2013, BlueVine earned recognition from Growjo this fall as one of the fastest growing startups in California. Since inception, the company has provided more than 20,000 small business owners with access to more than $2.5 billion in financing.

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ACH Alert Partners with Apiture to Fight Payments Fraud

ACH Alert Partners with Apiture to Fight Payments Fraud
By David Penn Posted on
Categories: ACH Alert

Multi-payment channel fraud prevention specialist ACH Alert has forged a strategic partnership with digital banking solution provider Apiture. The collaboration will enable Apiture’s 450+ customers to benefit from the combination of ACH Alert’s fraud detection services and Apiture’s online cash management solutions.

“This partnership demonstrates the industry’s need for sufficient fraud prevention tools that can be easily accessed by account holders through their online banking platforms,” ACH Alert CEO Debbie Peace said. “Apiture is already equipping financial institutions with quick and straightforward payment options that their customers crave, so adding our tools into the mix will assist their customers in mitigating the risks associated with electronic payments.”

ACH’s Fraud Prevention HQ platform enables account holders to play a more active role in the fraud fighting effort. The technology allows them to customize actionable alerts and accept or deny suspect transactions in real-time whether they are in the form of ACH, check, or by wire – before funds are withdrawn from the account. ACH Alert also leverages out-of-band verification using voice biometrics for handling high risk transactions.

Named “The Best Solution for Customer Experience” by FinXTech, and recognized by American Banker in its “Best Fintech to Work For” roster this year, Apiture was founded as a joint venture between First Data Corporation (now Fiserv) and Live Oak Bank in 2017. The partnership with ACH Alert will enable FIs using Apiture’s online banking platform to contract for the various fraud detection and prevention services available on ACH Alert’s Fraud Prevention HQ platform. These services include wire transfer protection, as well as credit origination, check, and ACH positive pay. Together, the services give FIs the ability to automate dispute resolution, provide business customers with greater control over the payments they accept, and fight cybercrimes such as account takeover.

“ACH Alert has long provided the industry standard for fraud protection for many of our customers,” Apiture President Chris Cox said. “Formalizing this partnership will enable us to bring a more unified experience to our online banking customers.”

Tennessee-based ACH Alert demonstrated its fraud prevention technology at FinovateSpring 2017. The company began this year with the launch of the latest Payment Data Xchange (PDX) service module for its Fraud Prevention HQ platform. Founded in 2007, ACH Alert was the recipient of the Kevin O’Brien ACH Quality Award in 2012 – the highest award for quality in the ACH Network industry.

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