Author: David Penn

Credorax Partners with Temenos to Enhance Payment Services

Credorax Partners with Temenos to Enhance Payment Services
By David Penn Posted on
Categories: Temenos

Credorax, a payments company, has selected Temenos T24 Transact, deployed on the cloud, to provide SME, merchant acquiring and cross-border payment services, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The firm has created an API-centric technology ecosystem with the Temenos open banking platform running on Microsoft Azure.

Temenos was the first banking software provider to launch a cloud offering running on Azure and since 2011, T24 Transact has been available as a managed service on the Temenos Cloud.

T24 Transact is part of Temenos’ new batch of products announced earlier this month.

Now, Credorax is a fully-fledged European commercial licensed bank via the Malta Financial Services Authority, and offers a suite of services, including fraud detection and local processing.

Steen Jensen, managing director – Europe, Temenos said: “With T24 Transact, Credorax can capitalize on real-time flexible technology today, as well as have a foundation for future growth.”

“We want to provide the scalability necessary to dominate the financial services industry and couple that with versatile and innovative cloud services,” added Moshe Selfin, COO of Credorax.

Credorax’s move into cloud-based banking was motivated by the introduction of PSD2, according to the firm.

Founded in 1993 and headquartered in Geneva, Switzerland, Temenos demonstrated its Connect Mobile Banking solution at FinovateEurope 2015. More than 3,000 companies around the world, including 41 of the top 50 banks, leverage Temenos’ technology to support the transactions of more than 500 million bank customers.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: Baker Hill, CUneXus, FIS, Modo Payments, Onfido, Temenos, Vymo

On Finovate.com

  • CuneXus Starts New Year Signing its 100 Customer.
  • Credorax Partners with Temenos to Enhance Payment Services.

Around the web

  • Zurich Topas Life, part of Zurich Group, selects Vymo as its sales productivity solution.
  • Modo powers new loyalty solution from FIS, Pointopia.
  • Baker Hill announces major 2018 milestones.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Feedzai and DataRobot Team Up to Tackle Financial Crime

Feedzai and DataRobot Team Up to Tackle Financial Crime
By David Penn Posted on
Categories: Feedzai

Anti-fraud solution provider Feedzai has collaborated with DataRobot to enable FIs, merchants, and processors to add DataRobot’s machine learning models to the Feedzai platform. The integration, made possible via the OpenML platform Feedzai announced last year, will enable FIs to automate the creation of advanced machine learning models for fraud detection and AML, providing a higher level of defense against financial crime.

“This integration with DataRobot enables us to further open the Feedzai platform to powerful machine learning algorithms into our platform to offer even more of the world’s advanced AI tools to our customers,” Feedzai SVP of Product Saurabh Bajaj said. “This is how we are democratizing AI for our customers.”

The integration also gives data scientists the ability to conduct data cleaning and analysis, feature engineering, and model training and testing, all within the Feedzai platform. Data scientists can also import external models to the platform, as well as take advantage of Feedzai’s other tools, including its automated rules engine, advanced link analysis, Risk Ledger, and Genome to enhance fraud detection further.

“Our partnership with Feedzai gives banks and other financial institutions the flexibility to use the machine learning technology and tools that best fit their needs,” SVP of Business Development for DataRobot Seann Gardiner said. “The combination of Feedzai’s impressive threat detection technology and our world-class automated machine learning capabilities create a best-of-breed solution to fight fraud with unprecedented accuracy.”

With $5 billion in transactions scored daily, Feedzai protects 10 of the largest 25 global banks from fraud. Last month, the company announced a strategic partnership with Citi, which will feature the integration of Feedzai’s anti-fraud technology with Citi’s Treasury and Trade Solutions. Feedzai also unveiled its latest financial crime prevention solution, Risk Ledger, in December. Risk Ledger leverages the millions of transactions processed via its platform to provide a more comprehensive anti-fraud solution.

Founded in 2009 and based in San Francisco, California, Feedzai demonstrated its fraud prevention technology at FinovateEurope 2014. The company has raised $76.1 million in funding, and includes Data Collective DCVC, Sapphire Ventures, Citi Ventures, and Oak HC/FT among its investors.

Share this:

Send Post Twitter LinkedIn Facebook

Revolut Turns to ClauseMatch to Streamline Compliance

Revolut Turns to ClauseMatch to Streamline Compliance
By David Penn Posted on
Categories: Revolut

Revolut, a digital-only bank, has signed an agreement with ClauseMatch to adopt its regulatory technology to streamline management of internal policies, controls and regulatory compliance, following a two-month trial period, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The bank has experienced “significant” growth since it was founded three years ago, across 28 markets in Europe, and is preparing to launch in the US, Canada, Australia, New Zealand, Singapore and Japan in the coming months.

Revolut is currently working in multiple jurisdictions with different rules applied to financial services companies. And across these jurisdictions it faces different regulatory challenges.

The company’s CEO and founder Nikolay Storonsky said that one of the main reasons the company was able to scale so fast is due to its approach to compliance.

“Compliance is something that a company cannot get wrong. That’s why it is incredibly important to evaluate the process constantly and innovate where possible. We strongly believe in innovation and technology. We decided to double-down on technology,” Storonsky says.

Revolut reports that it is signing up over 250 businesses and 9,000 customers per day.

Previously, in 2017, ClauseMatch went live with Barclays for policy management and compliance globally.

In other news today (29 January), Revolut unveiled his plan to build a global licensing team that will be responsible for securing banking, trading and credit licenses.

Founded in 2013, Revolut demonstrated its platform at FinovateEurope 2015.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: DSwiss AG

FinovateEurope Sneak Peek: DSwiss AG
By David Penn Posted on
Categories: DSwiss, FinovateEurope 2019, FinovateEurope 2019 Sneak Peek

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

With its latest innovation, DSwiss’ Safes can combine original meta-data that is passed along with documents/requests and data that is extracted with rule-based and machine-learning based algorithms

Features

  • Support for structured and guided document requests
  • Automatic match of requests with existing documents in safe
  • Passing of available meta-data back into the workflow

Why it’s great
User-centric workflows that combine a personal data safe with document requests can provide additional value to both the bank and the client.

Presenters

Tobias Christen, CEO
Christen boasts 20 years of experience in software development. Prior to co-founding DSwiss, he was responsible for developing the architecture of a security system for a large international firm.
LinkedIn

 

Damir Durut, Senior Project Manager
Durut earned a Bachelor of Science in Business Administration from the Applied University of Zurich. He has 6+ years of experience in IT Project Management, Business Analysis, and Process Management. He is fluent in five languages.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: LOQR

FinovateEurope Sneak Peek: LOQR
By David Penn Posted on
Categories: FinovateEurope 2019, FinovateEurope 2019 Sneak Peek, LOQR

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

LOQR’s Unified Identity Management approach provides a customer-centric, mobile first, one-stop-shop, digital identity lifecycle manager, focused on B2B and B2E regulated verticals.

Features

  • Identity Verification: Simplified enrollment and identity verification
  • Identity Engagement: Unique identities and multi-factor authentication features
  • Identity Provider: A unique identity for each person

Why it’s great
Use LOQR to turn identity verification into a speedy and cost-effective onboarding process, with the best possible customer experience and easy compliance.

Presenters

Ricardo Costa, CEO
Costa has experience in cybersecurity as an international project leader within financial, payment systems digital certification, and electronic identity sectors.
LinkedIn

 

Pedro Borges, CTO
Borges has taken on multiple roles involved in the software development lifecycle. His experience has ranged from hands-on development to multiple management responsibilities in organizations of different sizes operating in multiple countries.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: Launchfire

FinovateEurope Sneak Peek: Launchfire
By David Penn Posted on
Categories: FinovateEurope 2019, FinovateEurope 2019 Sneak Peek, Launchfire

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Launchfire’s Lemonade platform is the only all-in-one learning experience platform built specifically for financial institutions.

Features

  • Launch more engaging and effective learning experiences for employees
  • Get employees role-ready in less time
  • Measure business impact and prove ROI

Why it’s great
The Lemonade learning experience platform creates better staff, faster.

Presenter
Romeo Maione, Program Designer and Strategist
As program designer and strategist at Launchfire, Maione has helped design Launchfire’s Learning Experience Platform, Lemonade.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: W.UP

FinovateEurope Sneak Peek: W.UP
By David Penn Posted on
Categories: FinovateEurope 2019, FinovateEurope 2019 Sneak Peek, W.UP

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

W.UP transforms the way banks generate digital revenue and interact with clients through AI-powered experiences.

Features

  • Understand customer data, set up profiles and identify new segments
  • Use pre-built customer insights in real-time to predict life situations
  • Interact with clients and suggest new personalized products

Why it’s great
Using advanced analytics, artificial intelligence and machine learning algorithms, Sales.UP builds customer insights that enable meaningful interactions between banks and their clients.

Presenters

Jozef Nyiri, VP of Business Development
Nyiri  is a hands-on innovator and growth leader with more than two decades of fintech experience. He is a visionary and speaker on digital transformation of the banking industry.
LinkedIn

 

Tamás Braun, International Sales and Business Development Director
Braun has worked in the retail banking technology industry for the past 15 years. Most recently, he worked at technology vendors such as IND and Misys before joining W.UP.
LinkedIn

 

Remco Veenenberg, Head of Alliances
Veenenberg has worked in startups focusing on emerging technologies, and established more than 40+ applied AI communities worldwide before evangelizing the use of data and ML for retail banking with W.UP.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: CREALOGIX

FinovateEurope Sneak Peek: CREALOGIX
By David Penn Posted on
Categories: CREALOGIX, FinovateEurope 2019, FinovateEurope 2019 Sneak Peek

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

TimeWarp from CREALOGIX is an independent app created for the everyday banker in order to provide them with insights to make better financial decisions at every stage of life.

Features

  • Independent app for everyday bankers
  • Simulation of decisions users make in financial life
  • Empowers banks to up-sell and cross-sell a variety of highly personalized products

Why it’s great
The new tool will ultimately help customers simulate every decision they make when it comes to their financial lives and predict the impact of these decisions.

Presenters

Jo Howes, Commercial Director
Howes is responsible for sales and marketing activity for CREALOGIX in the U.K. Howes has more than 20 years experience partnering with leading financial institutions to accelerate their digital transformations.
LinkedIn

Eszter Vass, Key Account Manager
Vass has eight years of experience in digitalization in financial services. She is strongly focused on continuously improving the services and experiences offered, as well as enhancing the way people engage with their banks.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope Sneak Peek: BlueRush

FinovateEurope Sneak Peek: BlueRush
By David Penn Posted on
Categories: BLUERUSH, FinovateEurope 2019, FinovateEurope 2019 Sneak Peek

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Building on over 10 years of experience creating engaging digital journeys for financial institutions, BlueRush has developed a completely new IndiVideo credit card selector and personalized video experience.

Features

  • Seamless customer journey and improved conversion rate
  • Increased customer engagement and satisfaction for up/cross-sell
  • Collection of valuable data-driven customer insights

Why it’s great
IndiVideo focuses on accelerating the customer journey through personalized education and visualization. BlueRush has seen conversions lift over 65% with IndiVideo because of its engaging format.

Presenter

Ted Mercer, VP of Sales
Mercer has worked in sales and sales management for over 10 years and has a background in financial services as a Chartered Accountant. He helps companies increase customer engagement with IndiVideo.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: BLUERUSH, CREALOGIX, DSwiss, Feedzai, Launchfire, LOQR, NICE Systems, Onfido, Revolut, RightCapital, Token, W.UP

On Finovate.com

  • Feedzai and DataRobot Team Up to Tackle Financial Crime.
  • Revolut Turns to ClauseMatch to Streamline Compliance.

Around the web

  • Identity verification specialist Onfido partners with augmented identity innovator IDEMIA.
  • NICE Actimize unveils new integrated fraud management platform, IFM-X.
  • Open banking platform provider Token hires new Chief Technology Officer, Gaurav Kohli.
  • RightCapital taps Pietro La Greca as VP of Enterprise Sales.

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.

Share this:

Send Post Twitter LinkedIn Facebook

New Funding Helps Featurespace Fight Fraud in Financial Services

New Funding Helps Featurespace Fight Fraud in Financial Services
By David Penn Posted on
Categories: Featurespace, Funding

Fraud detection and risk management specialist Featurespace has raised $32.3 million (£25 million) in a round led by Insight Venture Partners and MissionOG. With participation from existing investors IP Group, Highland Europe, TTV Capital, Robert Sansom, and Invoke Capital, the investment takes Featurespace’s total funding north of the $71 million mark.

“We have made tremendous progress over the last 15 months since our last fundraising,” Featurespace CEO Martina King said, “and this fund raise is the largest to date.” King added that the new capital will be used to help fuel the company’s international expansion via a focus on “products, people, and customers.”

“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the U.K., the U.S., and Latin America,” King said. She noted that Featurespace had also become the “technology partner of choice” for many payment processors and merchant acquirers who have made Featurespace’s technology a part of their own fraud prevention efforts.

Based in Cambridge, U.K., with offices in London and Atlanta, Georgia, Featurespace demonstrated its ARIC Fraud Manager at FinovateFall 2016. The technology leverages behavioral analytics, anomaly detection, and machine learning to understand behavior and identify risk more accurately in real-time. Compared to traditional, rule-based anti-fraud solutions, Featurespace’s ARIC provides better fraud detection without increasing the incidence of false positives.

The company is off to a big start in 2019. Recognized by the Technology Association of Georgia (TAG) in its list of the 40 most innovative companies in the state, Featurespace partnered with business consultancy everis earlier this month. The company also announced that international bookmaker and gaming operator SKS365 would use its technology to provide real-time fraud protection.

Last fall, Featurespace teamed up with new U.K. clearing bank, ClearBank; partnered with Danske Bank, the largest bank in Denmark; and released a white label version of its ARIC fraud and risk technology. Founded in 2005, Featurespace is a member of the Inc. 5000 Europe.

Share this:

Send Post Twitter LinkedIn Facebook