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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
Our Libra is a data-driven automated financial advisor and consumer lender focused on helping middle-class Americans manage their savings, investments, and debt.
Features
Automated financial advisor for managing savings and debt
Innovative, data-driven consumer lending platform
Why it’s great Our Libra provides an insightful and economical way to serve a market that desperately needs quality financial advice: the American middle class.
Presenter
George Matthew, Founder and CEO Matthew is developer of the Our Libra site and related algorithms. He is a former investment banker (over $20b of M&A and IPOs) and startup founder. LinkedIn
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
CN-Protect from CryptoNumerics is enterprise software that enables privacy protection of consumer data to comply with CCPA, GDPR, and HIPAA.
Features
Consistent privacy protection using Differential Privacy and AI
Privacy risk balanced with analytical value
Quantifiable metrics and auditing reports for compliance
Why it’s great CN-Protect enables the protection of both identifiers and quasi-identifiers while retaining analytical value.
Presenters
Monika Holboke, Co-founder and CEO/CSO Co-founder and CEO of CryptoNumerics, Holboke leverages her background in numerical methods and mathematical modeling to help organizations gain insights while protecting people’s privacy. LinkedIn.
Hassan Bhatti, Co-founder| Commercial Bhatti is a technology entrepreneur with broad technical and business knowledge along with a proven ability to take incredibly hard technical ideas and commercialize them. LinkedIn.
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
CalcXML’sFIST Score is a new index used to evaluate all aspects of a person’s financial health, access vulnerabilities in debt, liquidity, retirement and insurance, and make product recommendations.
Features
Personalized dashboard with national/group comparables
Customizable content with administrative and marketing reports
Single sign-on; scalable and secure database; API integration
Why it’s great FIST Score unites the sophistication of computational AI technology with a simple user experience, creating a cradle-to-grave tool that enhances consumer loyalty and product placement.
Presenters
Chris Brockbank, Founder and President Brockbank is a pioneer of online financial calculators and online tools as well as the author of the mathematical algorithms featured in the FIST Score. LinkedIn
Rebecca Foster, VP Sales and Marketing As VP of Sales, Foster works closely with financial institutions to integrate FIST Score and financial calculators with their existing portals and websites. LinkedIn
Omnio Group is the latest fintech to partner with turnkey open banking platform provider, Token.io. The firm, whose digital banking platform, bank.VISION, powers banking and payments for more than 300 companies around the world, will leverage its new relationship with Token.io to provide open banking and PSD2 compliance to its FI partners.
“Token has enabled us to provide our clients with a PSD2 Open Banking Hub, which delivers secure connectivity between third parties and financial institutions,” Omnio Group Director of Implementation and Delivery, Rob Liddell explained. “Our next step is to work with Token to create innovative banking and payment experiences that meet the evolving needs of our digital customers.”
The first customer to take advantage of Omnio Group’s new partnership with Token.io is Irish postal, retail and financial service provider, An Post. The integration of both bank.Vision and TokenOS will give An Post access to crypto-based security, Token’s programmable money technology, as well as operational support, monitoring, and reporting.
“Our commercial strategy relies on our ability to successfully deliver in the digital world,” An Post Financial Services Director John Rice said. “Leveraging Token’s API puts us ahead of the game, enabling us to build a better proposition for our customers.”
Token.io demonstrated its PSD2-compliant open banking solution at FinovateEurope 2017. The company’s platform provides both banks and third parties with better compliance, quicker data aggregation, and direct bank payments with its single API and smart token technology.
Banks benefit from the ability to deliver more services to their customers and generate new revenue. By integrating TokenOS via simple, secure SDKs, banks can leverage crypto-based security and programmable money to build and develop new open banking apps. Payment service providers and merchants both win with better, more secure connections to banks, as well as faster access and lower costs.
Omnio Group is the latest company to sign on to Token.io’s open banking solution. Earlier this month, Token.io announced a partnership with Khaleeji Commercial Bank of Bahrain. Back in March, the company reported that it was working with U.K.-based challenger bank Tandem to ensure PSD2 compliance and support open banking. Late last year, Token and thinkmoney agreed to work together to expand open banking opportunities for the U.K.-based FI. More than 4,000 banks are currently connected via Token.io’s technology.
In addition to partnering with financial institutions around the world, Token.io also teamed up with open banking third party provider and identity and regulatory specialist Konsentus earlier this year. Together, the two will offer FIs in Europe a “fast and powerful combined solution for PSD2 compliance.” Token.io began 2019 by hiring a new Chief Technology Officer, Gaurav Kohli. Before joining Token, Kohli was VP of Product Development, Architecture, and Platform Engineering at Visa.
Less than a year after making its Finovate debut, Boulder, Colorado-based cybersecurity specialist PasswordPing has rebranded as Enzoic.
“2019 begins a new era for our company and the name change to Enzoic reflects our growth and evolution,” company co-founder, CMO, and Head of Product Management Kristen Ranta Haital Wilson said. “Customers are using our products in different ways, from risk-based authentication signals to bundling our solutions into their own product suites. Our name needs to reflect the diverse use cases for our solutions.”
These use cases include providing identity theft protection via its flagship IDShield solution whether users are accessing their accounts online or on the app. Enzoic serves as an additional layer of security at the point of authentication, detecting compromised credentials and prompting password resets when unauthorized logins are identified.
The company also highlighted a new service, IDShield Credential Screening, that monitors online sources, including the dark and deep webs, for exposed credentials. Offered as part of the base level plan, the new feature alerts users in the event their credentials – typically paired usernames and passwords – are found. The service then prompts users to make necessary changes. Enzoic’s IDShield also offers password screening at both new account setup and during password reset to ensure that new passwords are suitably strong.
Enzoic sees itself as part of the solution to a problem that represents 81% of hacking-related breaches in 2018: the challenge of compromised credentials. The company notes that losses from account takeover (ATO) climbed 1.2x from 2016 to 2017, and increased by another 1.6x the following year. And unfortunately, the “friendly fire” of people reusing passwords – more than 70% according to some studies – makes the battle against compromised credentials that much harder to fight.
“We have reached the point where compromised credential screening is really a must-have in order to adequately secure the authentication layer of your customer applications and corporate systems,” Enzoic founder and CTO Mike Wilson said. “Balancing security with user experience is a business imperative; unlike some other solutions on the market, our solutions provide protection without unnecessary friction.”
Founded in 2016, the company – as PasswordPing – demonstrated its credential screening technology at FinovateFall 2018. A finalist in the Innovation Quotient awards last year, Enzoic was namedStartup of the Year at the 13th Annual 2018 IT World awards back in October.
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
AlignMoney from Digital Align is the world’s first digital Banking-as-a-Benefit platform for employees offered by employers to enable financial success at the workplace.
Features
A new benefit for employers to attract talent and retain loyal employees
Easy to apply and get instantly approved by multiple lenders
A new distribution channel for banks and credit unions.
Why it’s great AlignMoney is a Banking-as-a-Benefit platform that provides easy access to banking products and services at the workplace to assure employee financial inclusion and financial success.
Presenters
Rajeesh Patil, Founder and President Patil is a leader and solution architect with expertise in building strategy and execution plans for transforming all banking business functions in the areas of customer and employee experience. LinkedIn
Praveen Shekar, Head of Sales Shekar is a passionate sales leader with experience in selling software to enterprise customers. He has extensive experience working in banking and technology with a focus on digital transformation. LinkedIn
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
Wizely Finance is a white-label product that empowers financial institutions to deploy any new lending product to their best customers in a matter of weeks, from scratch.
Features
Understand customer behavior and cross sell opportunities with predictive analytics
Execute an automated, multi-channel marketing strategy
Leverage an all-in-one loan origination platform, payoff process and administrative dashboard.
Why it’s great Wizely Finance is a consumer loan division in a box, providing everything necessary to offer on-demand consumer loans and an elegant user experience.
Presenter
Paris Benson, Founder and CEO Benson is a three-time fintech entrepreneur, technical founder and customer acquisition specialist who has developed, run, and exited fintech companies over the last decade. LinkedIn
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
DataDock Solutions empowers its clients to make better decisions about what customers they trade with and where they allocate their risk wallet.
Features
Delivers data analytics, advanced metrics, and rich visuals
Helps make rigorous, consistent, and precise decisions
Provides 90% of the functionality with less than 10% of the cost, and delivers in weeks not years
Why it’s great Trading revenue is like a soup that has already been cooked: you can’t take the ingredients back out. DataDock uses powerful simulations to provide the next best thing: a recipe book and a taste test.
Presenters
Kumaran Vijayakumar, CEO and Co-founder Vijayakumar was global head of equity derivatives and convertibles at BofA. He led the build-out of equities trading at MF Global, and traded exotics/index options at Goldman Sachs and Citi. He has a BS from UC Berkeley, and an MBA from Wharton. Vijayakumar is also a CFA. LinkedIn.
Thomas Wadsworth, COO and Co-founder Wadsworth was formerly senior derivatives trader (MD) at Goldman Sachs, focused on single stock options, cross-asset opportunities and technology projects. He co-headed single stock volatility trading at BofA. Wadsworth earned a BE from Vanderbilt University.
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
Ziggurat is building an AI trading assistant for short term trading and execution for active investors in the stock market. The solution provides seamless, end-to-end, unlimited trades with real-time monitoring features.
Features
Search engine for finding the best opportunities
Future prediction for getting heads up for different stocks on the next trading day
Real-time position tracking for alerting and monitoring
Why it’s great Ziggurat’s live AI trading assistant provides seamless, unlimited free trades.
Presenter
Sia Nazari, Founder and CEO Nazari is formerly a scientist at UC Berkeley, and Berkeley Lab. He has experience as an investment advisor at Morgan Stanley, and a background in physics and finance. He is passionate about trading and financial markets. LinkedIn
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
Enigma delivers trusted, linked SMB intelligence from over 100 data sources, enabling you to create products and optimize workflows that capture the small commercial market.
Why it’s great Enigma’s API injects trusted SMB data into key workflows, and lets you unlock the 30+ million U.S. SMBs that need your products, services, and financing.
Presenters
Craig Danton, VP, Data and Strategy Danton oversees data and strategy at Enigma. A former BuroHappold engineer, he holds a Harvard Business School MBA and a BS from Columbia University. LinkedIn
Chris Abiaad, Product Lead, Commercial Intelligence Abiaad runs Enigma’s commercial intelligence product. He received an MBA from Cornell Tech, ran a startup, and worked in financial services technology strategy at Accenture. LinkedIn
A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.
doxo, the all-in-one web and mobile bill payment service, is partnering with Plaid to help prevent bank overdrafts when paying bills to over 45,000 billers.
Features
Consumers pay over $30 billion each year in overdraft fees
Seeing bank balance when paying bills results in fewer overdrafts
When information is transparent, consumers win
Why it’s great Overdraft protection is another doxo feature reducing bill pay hassles for millions of users, and bringing these new benefits to the billers they pay.
Presenters
Steve Shivers, Co-founder and CEO Shivers is co-founder and CEO of doxo, the all-in-one billpay service. Prior to founding doxo, Shivers held senior roles with OpenMarket, QPass, and Infospace. LinkedIn
Jim Kreyenhagen, VP of Marketing and Consumer Services Kreyenhagen is the VP of Marketing and Consumer Services at doxo, the all-in-one billpay service. He previously managed and grew web properties at Allrecipes, BookRags, and InfoSpace (HowStuffWorks). LinkedIn
On the heels of being named one of the most valuable tech companies in Europe by Silicon Republic, low-code development platform OutSystems has announced that it is partnering with the Manufacturing Technology Centre (MTC). The two companies will work together to bring the benefits of low-code app development to some of the largest manufacturers in the U.K.
Pointing to “pent up demand” among manufacturers looking to leverage new technologies and channels, OutSystems VP for the U.K. and Ireland Nick Pike blamed “slow processes and legacy systems” for holding the sector back.
“As a result, development teams are seeking ways to innovate faster, and drive digital transformation projects forward quickly, without being encumbered by traditional environments and ways of working,” Pike explained.
Working with OutSystems, he said, would enable these developers to build enterprise-grade solutions for the web, mobile, and Internet of Things (IoT), as well as for manufacturing execution systems (MES) and even to accelerate legacy modernization.
“Bringing OutSystems’ low-code platform to organizations within the MTC provides this sector with a great opportunity to develop applications in a faster and more cost-effective way,” Pike said.
Founded in 2010, the Manufacturing Technology Centre is an independent research and technology organization (RTO) with more than 700 employees. The innovation hub provides integrated manufacturing system solutions to enterprises throughout the industry, ranging from automotive and aerospace firms to electronics and defense.
As part of the Centre, OutSystems will be able to commission its own fully-funded projects. The company will also innovate as part of the MTC’s Core Research Program, an annual collaborative research effort worth more than £2m+. Membership in the MTC will also position OutSystems to pursue major R&D opportunities in the U.K. manufacturing sector and beyond.
“It’s fantastic to have OutSystems join the MTC,” the organization’s Chief Digital Engineer Craig Stevens said. “As a global leader in low-code rapid application development, its knowledge and experience will only benefit out wider partner network. We look forward to further strengthening this relationship in the future.”
OutSystems demonstrated its low-code development platform at our developers conference, FinDEVr New York, in 2017. At the event, Nuno Silveira and Joao Miranda of European retail bank BPI showed how they leveraged OutSystems’ technology to complete a digital transformation that included overhauls of the bank’s mobile, internet, and contact center solutions.
Earlier this year, OutSystems was recognized by TrustRadius for its achievements as a low-code development platform, the third year in a row the company has been so honored. OutSystems was featured by Gartner Peer Insights late last year, earning Customers’ Choice recognition in both Mobile Application Development and Enterprise High-Productivity Application Platform as a Service categories.
