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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Ninth Wave is the go-to partner for universal financial data integration, delivering a secure, seamless, and standardized information supply chain.
Features
Enable connectivity between banks and third parties
Quickly provision secure connectivity to business and consumer apps
Highlight new ways for banks to improve customer experiences
Why it’s great Ninth Wave is excited to show FinovateFall attendees how easily it can enable financial institutions to provide a world-class app experience to SMBs and consumers.
Presenters
George Anderson, Founder Under Anderson’s leadership companies have garnered honors such as Deloitte and Touche Fast 50, FinTech 100, and Software 500. LinkedIn
Camellia George, Product Manager, UX/Privacy Before joining the front lines of financial data access and control, George led teams at Venmo, Fab.com and WaPo. LinkedIn
Scalable Capitalteams up with Raisin to offer its customers the ability to invest in fixed-term deposits at partner Baader Bank.
Standard and Premium customers of Revolut in 26 markets now have access to stock trading via the platform.
Financial Times highlights Meniga as a fintech to watch. Come see Meniga’s live demo at FinovateFall next week in New York!
NYMBUSappoints Dr. Joerg Richter as its new Chief Operating Officer, Platforms. NYMBUS will showcase its newest technology at FinovateFall next week in New York!
Tradeshift to help Spendency app users leverage their transaction data.
iProovreleases HTML v.2 Beta on GitHub to help users secure user identity in HTML5.
Onfidoearns the top spot in FinTechCity’s 2019 Fintech 50 roster.
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.
Real-time financial data access and insights company Finicity has unveiled its latest solution to accelerate the lending process and further the trend toward digitization in the mortgage industry. This week, the company launched its Verification of Income and Employment (VOIE) solution, which leverages bank data and a scan, photo, or PDF of the borrower’s pay statement to make borrower verifications both faster and more accurate. In its statement Finicity noted that VOIE is expected to successfully provide coverage of more than 70%. This compares favorably to the accuracy rates of existing automated solutions, which top out near 25%.
Calling Finicity’s VOIE “the new gold standard of income and employment verification,” company CEO Steve Smith suggested the technology would be a significant new resource for lenders. “We know it will be met with fast adoption by key industry players who aim to be on the cutting edge of lending technology,” he said, adding “(with) VOIE building upon our current Verification of Assets solution, lenders will now be able to use Finicity as a one-stop-shop for digital verification.”
Appreciation for Finicity’s VOIE solution has already been heard from the likes of major mortgage industry players such as Freddie Mac, Quicken Loans, and Experian – all of which have leveraged Finicity’s technology to automate the manual processes that have historically made the loan origination experience cumbersome for all parties involved.
Freddie Mac, for example, highlighted the contribution Finicity’s VOIE would bring to its own asset and income modeler (AIM). “(Our) partnership with Finicity has helped to create a waterfall-like approach by adding paystub data to our AIM capability using accurate and verifiable data that meet our underwriting standards,” Senior Director of Technology Integration at Freddie Mac Kevin Kaufman said. “This means more opportunities for representation and warranty relief and greater costs savings for lenders all while delivering a better lending experience to borrowers.”
Quicken Loans EVP of Client Experience Heather Lovier echoed Kaufman’s praise for the technology, referring to VOIE as “a critical next step in the evolution of the mortgage process.”
The news of Finicity’s Verification of Income and Employment solution comes one month after the company introduced its Student Loan Account Verification solution. This technology enables employer repayment programs to access Finicity’s ACH endpoint to confirm the accuracy of accounts and routing numbers when making loan payments on behalf of their employees. Fellow Finovate alum Vault is among the companies to have partnered with Finicity in order to put the technology to work on behalf of employer-based student loan contribution programs.
Founded in 1999 and headquartered in Salt Lake City, Utah, Finicity demonstrated its credit decisioning solutions – including its Verification of Income (VoI) and Verification of Assets (VoA) technology – at FinovateFall 2017. The company has raised nearly $80 million in funding, and includes Experian Ventures and Bridge Bank among its investors.
Earlier this year, Finicity inked a major partnership with Ellie Mae, integrating its Verification of Assets solution into Ellie Mae’s Encompass Digital Lending Platform. This makes Finicity’s technology available to the more than 230,000 users and thousands of providers who, as part of Ellie Mae’s partner network, process “approximately one-third” of all the residential loans originated in the U.S.
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Symbiotic is presenting a disruption that will change the payments industry; a mechanism that enables a simple cellphone to accept contactless card payments with no additional devices required.
Features
Now anyone with a cell phone can accept contactless card payments
No additional devices required, just a cellphone
This solution can be integrated with apps that already exist very easily
Why it’s great Symbiotic represents a new paradigm where anyone can accept card payments with just a cellphone, no additional devices required. The possibilities are enormous and create a new era of applications in the payments industry
Presenter
Javier Chacon, Founder and CEO Chacon has been a banker for 26 years working in the finance industry. He is an expert in digital transformation, payment methods, and innovation, as well as an industry opinion leader in the field. LinkedIn
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Qwil Messenger’s single chat app enables participants in any location to engage in branded, professional conversations with their companies, whilst meeting the most stringent security and regulatory requirements.
Features
Highly secure conversations and file transfers with full audit record
Deployable in minutes in any data center globally
APIs for integration and automation and connectors to enterprise systems
Why it’s great Qwil Messenger’s single chat platform replaces email for external communications on mobile and web, and works the way you want it to: as an integrated solution
Presenters
Laurent Guyot, CFO Guyot brings extensive experience in financial strategy, marketing, and capital raising, as well as a significant network of financial services contacts globally. LinkedIn
Peter Reading, CEO Reading has almost 20 years of experience designing and delivering technology-led change in the financial services sector. LinkedIn
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Wallit is a rewards-based savings app that helps teens save and spend money with an easy way to earn cash rewards from brands and retailers.
Features
Transforms how brands, retailers, and consumers engage through mobile technology
Provides a consumer engagement platform for banks and credit unions
Enables consumers to earn cash rewards for goal-based savings
Why it’s great Wallit is a rewards-based saving app that empowers teens to manage money better with an easy way to earn cash rewards on everyday saving and spending.
Presenter
Mike Vien, CEO and Co-Founder Vien has more than 25 years of experience as an internet executive and entrepreneur in the financial services industry. LinkedIn.
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
MoEngage is an Intelligent Customer Engagement Platform trusted by enterprises to personalize every customer interaction and drive better engagement, retention, loyalty and lifetime value.
Features
Bring together a unified view of your customers
Map out cross channel consumer journeys
Deliver personalized communication on the right channel and at the right time
Why it’s great MoEngage has been rated by clients among the highest in overall experience in Gartner’s Magic Quadrant 2019.
Presenters
Ehren Maedge, VP North America Maedge heads MoEngage’s business in North America. He is directly responsible for sales and customer relationships in the region. LinkedIn
Sagar Gore, Sr. Director – Solutions Consulting Gore is a seasoned MarTech professional with a rich experience of solutions consulting spanning around 15 years. LinkedIn
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Get a glimpse of the future of financial wellbeing at the workplace with SalaryFits. The company will demo its easy and inclusive access to credit, as well as preview its newest feature, SalaryPay.
Features
Provides a cardless salary advance alternative for the unbanked
Enables paying for products and services with a QR code
Processes transactions seamlessly via salary deduction
Why it’s great SalaryFits empowers people financially through their employment relationship. The solution improves their financial wellbeing while increasing margins for financial institutions.
Presenter
Delber Lage, CEO Lage has advised finance and tech companies around the world to capture global opportunities. As CEO of SalaryFits, he is leading the company’s international expansion, ensuring sustainable growth. LinkedIn.
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
PayFi is a marketplace that allows businesses and community banks to partner through an interoperable, risk-based back-office platform for community bankers.
Features
Instant bank bill payment
Liquidity
Cash controls
Why it’s great PayFi is a real-time payments platform for community banks and businesses.
Presenters
Travis Dulaney, CEO Dulaney has 25+ years of experience in financial services, payments tech, processing, international and domestic banking, and regulatory agencies such as the FDIC, the Federal Reserve, OCFI, and CFPB. LinkedIn
Peter Gordon, CRO Gordon has 25+ years of experience in financial services and payments, with leadership roles at Mastercard, Santander, FIS, and RBS Citizens. LinkedIn
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
With IncomeConductor, financial advisors can create, track, and manage comprehensive income plans for clients seeking exceptional retirement experiences.
Features
30+ year written income plans give clients confidence to retire
Daily analytics with automated de-risking alerts to protect income
Investor behavior management, increasing AUM capture and retention
Why it’s great IncomeConductor gives advisors a compliant, repeatable process for serving the largest retirement cohort in history, helping them grow and ultimately transition their practice at a high valuation.
Presenters
Sheryl O’Connor, CEO Connor has 25+ years of leadership experience in fintech. She co-founded and grew RIA to $900M AUM. She is an expert in strategic planning and executive management. LinkedIn
Tom O’Connor, CMO O’Connor has 10+ years of experience in financial services, technology, and digital marketing. He is head of technology for a $900M AUM RIA, and an expert in digital marketing, investment data analysis. LinkedIn
A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.
Wise offers banking and payments services for the small business ecosystem.
Features
Unified small business banking + payments experience
High Interest Checking (2% APY)
Instant funding on receiving payments
Push to debit payments
Business debit, credit, and virtual cards
Why it’s great Get paid instantly and put money in the bank. No more waiting for transactions to clear.
Presenters
Arjun Thyagarajan, Co-Founder and CEO Thyagarajan is the co-founder and CEO at Wise, bringing product and technology leadership with over 15 years of experience in building and launching successful consumer and SMB products. LinkedIn.
Suresh Venkatraman, Co-Founder and CTO Venkatraman is the co-founder and CTO at Wise. He is a full stack technologist and product architect bringing over 20 years of experience building software products with over 9 years at Microsoft. LinkedIn.
Wells Fargo announces data sharing agreement with Plaid.
Austin, Texas-based Velocity Credit Union picksFiserv as its key technology provider.
Technology from MicroStrategy to help power analytics behind Freddie Mac’s mortgage insights tool.
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.