Author: David Penn

Process as Product: Middleware and Mambu Strengthen Alliance

Process as Product: Middleware and Mambu Strengthen Alliance
By David Penn Posted on
Categories: Corezoid, Mambu, Middleware

Middleware, maker of the Corezoid Process Engine, and Saas banking engine innovator, Mambu, announced this week that they have strengthened their strategic partnership. The two companies have teamed up develop solutions that will enable banks and lenders to improve client onboarding, loan origination regulatory reporting, and card and payments connectivity.

The centerpiece of the partnership is the Mambu Process Orchestrator (MPO). Based on the Corezoid Process Engine and unveiled last fall, MPO is an integration platform as a service (iPaaS) offering that will make it easier for Mambu’s customers to connect multiple APIs together to streamline and better manage business processes.

“Corezoid allows clients to change how they see APIs to thinking in terms of assembling processes in the cloud,” Middleware founder and CEO Alexander Vityaz said. “Partnership with Mambu is part of Middleware’s global growth strategy. They work with clients in over 55 countries, and companies in these countries are now able to start leveraging Corezoid technology for their business through Mambu’s services.”

Mambu CTO Ben Goldin praised Middleware’s “unique vision and patented technology,” and said the enhanced partnership will enable Mambu to build out its cloud banking capabilities and boost adoption of its cloud-native banking engine. He added that Mambu is considering deploying other Middleware solutions such as its Messenger Bot Platform and DeepMemo Rules Engine after the launch of MPO.

Middleware participated in our developers conference FinDEVr Silicon Valley 2015, presenting Build Your Company’s Digital Core with Corezoid, an introduction to the company’s cloud operating system. Founded in 2014 and headquartered in Redwood City, California, the company’s customers include Western Union, TBC Bank, Tsesna Bank, and METRO.

Founded in 2011, Mambu is a leading global SaaS banking e=platform for digital financial services providers. The company’s technology powers more than 6,000 loan and deposit solutions, serving more than nine million end customers. The company is also an alum of our developers conferences, presenting Smart Consumer Lending: Platform and Scoring Architecture, at FinDEVr New York 2016, in partnership with Lenddo. Mambu also demonstrated its platform at FinovateAsia 2013 in Singapore.

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Temenos Teams Up with Bloomberg to Boost Buy-Side Oversight

Temenos Teams Up with Bloomberg to Boost Buy-Side Oversight
By David Penn Posted on
Categories: Temenos

Temenos is partnering with Bloomberg to deliver contingency net asset value (NAV) calculations to buy-side institutions, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The company will make its Temenos Multifonds Global Accounting product accessible via the Bloomberg Terminal, so it operates with data, analytics, and other investment workflow services Bloomberg offers.

According to the firms, this offering allows asset managers to generate NAV estimates independent of and in parallel to their fund administrators, enabling “accurate daily oversight,” and ensuring continuity of operations in the event of outages.

“By combining Temenos’ distinctive accounting capabilities with Bloomberg’s data and services, we will provide asset managers with a more comprehensive investment lifecycle workflow, support their relationships with fund administrators, and pave the way to deliver additional innovative solutions to buy-side institutions in the future,” said Jean-Paul Zammitt, global head of financial products, Bloomberg.

“We will offer an easy, plug and play solution with a low TCO, starting with NAV oversight and contingency through Bloomberg’s Terminal customers, with a view to unlocking further opportunities into the front and middle office over time,” added Max Chuard, Chief Financial Officer and Chief Operating Officer for Temenos.

Initially focused in the U.S. and Europe, Bloomberg hopes to build relationships within the buy-side industry to provide sales, marketing, and services support. Temenos hopes this opens up new business opportunities.

NAV calculations can be impacted by errors and outages with detrimental results for a firm’s fund operations, performance and reputation. Delivered via Bloomberg, this solution delivers shadow NAV oversight, with no need for onsite infrastructure or associated overhead.

The firms said this gives asset managers and other buy-side institutions a way to validate calculations provided by third-party fund administrators, combining Bloomberg’s buy-side reach and Temenos’ fund accounting software.

Temenos demonstrated its Connect Mobile Banking solution at FinovateEurope 2015. Founded in 1993 and headquartered in Geneva, Switzerland, the company is also an alum of our developers conference. Temenos presented its B2B Financial Apps Marketplace at FinDEVr Silicon Valley 2015.

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FinovateEurope Sneak Peek: Imburse

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

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.

Imburse is a universal payments adapter for corporate IT systems. The technology significantly reduces costs and speeds up deployment to collect and pay out money in any market via any payment technology forever.

Features

  • Significantly reduces costs of integrating and maintaining payment services
  • Makes all current and future payment technologies available via one integration
  • Enhances product and customer journeys

Why it’s great
Using Imburse, our clients are reducing their payments-related IT costs by 80% on an ongoing basis. Corporates with more complex IT systems benefit from feature enhancements and simpler IT migration.

Presenter

Oliver Werneyer, CEO and Co-founder
Werneyer is one of four co-founders of Imburse. His entrepreneurial nature and experience in delivering innovative solutions enable him to grow Imburse into the leading payments orchestration platform.
LinkedIn

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FinovateEurope Sneak Peek: Blinking

FinovateEurope Sneak Peek: Blinking
By David Penn Posted on
Categories: Blinking, 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.

Blinking is a platform offering the creation of secure digital identity. It can be used for multi-factor authentication and data access authorization, Know Your Customer processes, and data sharing.

Features

  • Multi-factor authentication utilizing biometric modalities that work in secure blockchain environment
  • Know Your Customer process that enables secure and authorized data sharing
  • GDPR-ready storage

Why it’s great
Blinking provides a blockchain-based, digital ID solution that gives users complete control over their data and provides businesses with a shared KYC process and strict data regulations compliance.

Presenters

Milos Milovanovic, COO
Milovanovic is an entrepreneur and professor at the University of Belgrade. He wrote over 80 scientific papers, is a member of IEEE, founder of two startups, and Blinking system author.
LinkedIn

 

Aleksei Migitko, CEO
Migitko is a serial entrepreneur and blockchain engineer and practitioner with over 12 years of experience in IT. He is a founder of two startups and also the author of the Blinking system.
LinkedIn

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FinovateEurope Sneak Peek: Reach

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

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.

REACH accelerates collaborations and deal closings, providing a human connection in a tech-driven world. The solution features docs collaboration, e-signatures, web conferencing, and ID verification all in a single platform.

Features

  • Increase conversion by enabling agent-supported, real-time deal closing sessions
  • Enable agents to get the job done remotely with the ultimate collaboration tool
  • Provide customers with live remote web support

Why it’s great
Provide a human touch in a digital age! Reach your target by delivering real-time, human-centered solutions that address real business needs without compromising compliance standards and user experience.

Presenter

Yair Ravid, Co-founder and CEO
Ravid is a driven, multidisciplinary manager with a proven track record of ten years’ experience in pharmaceutical, finance, and legal fields. He has extensive international sales and marketing experience.
LinkedIn

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FinovateEurope Sneak Peek: Dorsum

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

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

Dorsum is a multi-award winning, innovative investment software provider. The company presents its My Wealth solution for AI-driven hybrid advisory model in wealth management.

Features

  • Clear and simple flow, making investments accessible to anyone
  • Ability to create your own thematic portfolio
  • AI-driven hybrid advisory model assisting a captivating user experience for clients.

Why it’s great
My Wealth’s “Easy Invest” feature brings the complicated world of investments close to everyday people – helping you to expand your investment services clientele.

Presenters

Imre Rokob, Director of Business Development
Rokob is responsible for the company’s expansion to new international markets.
LinkedIn

 

Gergely Csorba, Senior Expert
Csorba has worked in various leadership roles at Sberbank Hungary’s International Corporate Banking departments. He also served as product and project manager of digital services at the Hungarian Post, and later, as Creative Editor of the Communications department.

 

Agnes Bati, International Project Assistant
Bati has a profound knowledge of the entire software delivery lifecycle and performs a variety of analytical and project supporting tasks.
LinkedIn

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FinovateEurope Sneak Peek: Zabo

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

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 Zabo, get paid in bitcoin. Automatically split your paycheck or direct deposit between cash and cryptocurrency.

Features

  • Seamless access to cryptocurrency directly from your pay
  • Buy and sell cryptocurrency directly from your bank account
  • Connect your existing bank account also, or use ours

Why it’s great
Get paid in bitcoin.

Presenter

Christopher Brown, CEO
Brown is a Ethereum developer who is passionate about coding, security, markets, technology, and the future. He has an MBA from SMU in Dallas, Texas, with a focus in finance and strategy.
LinkedIn

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FinovateEurope Sneak Peek: Aqubix

FinovateEurope Sneak Peek: Aqubix
By David Penn Posted on
Categories: Aqubix, 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.

KYC Portal from Aqubix is the industry’s most advanced CDD and AML data collection and collation platform that centralizes and simplifies the customer due diligence process – from onboarding to ongoing processes.

Features

  • Automated corporate onboarding with direct client facing portal
  • Ability to chat and conduct audio calls
  • Features a face to face conference module with facial recognition fully audited and recorded.

Why it’s great
KYC Portal automates the operational challenge of keeping up with customer due diligence. The solution automates the manual aspects of KYC, automating decision processes based on risk, workflows, and AML flags.

Presenter

Kristoff Zammit Ciantar, CEO
A business analyst by profession, Ciantar has been focusing on creating a solution that is specifically focused on re-engineering the processes of KYC and due diligence for top tier clients.
LinkedIn

 

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Finovate Alumni News

By David Penn Posted on
Categories: Aqubix, Blinking, Corezoid, Dorsum, IMburse, Kabbage, Mambu, Middleware, NICE Systems, Nordigen, REACH, Sberbank, Zabo

On Finovate.com

  • Process as Product: Middleware and Mambu Strengthen Alliance.

Around the web

  • Nordigen tests its transaction categorization and behavioral analysis capabilities with Nordic financial services firm SEB.
  • NICE Actimize launches financial crime enterprise consulting and advisory practice.
  • Sberbank partners with Russian supermarket chain Azbuka Vkusa to enable payment by fingerprint.
  • Kabbage drives Alibaba.com’s Pay Later program for U.S. consumers.

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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Finding Fintech’s Future in Emerging Europe

Finding Fintech’s Future in Emerging Europe
By David Penn Posted on
Categories: FinovateEurope 2019

Where is fintech innovation in Europe making the greatest strides? In recent years, more than a few observers have found themselves looking eastward when thinking about the future of European fintech.

Deloitte’s 2017 report, Fintech in CEE: Charting the course for innovation in financial services technology, highlights a number of key findings in its executive summary, including the opportunities for innovation in the banking sector, the growth of contactless and mobile payments, and the potential for disruption in the region’s “somewhat conservative” asset management industry.

The report noted:

Innovations for the banking sector provide the greatest share of FinTech solutions in all CEE countries. Such solutions are highly developed in virtually all countries (internet and mobile banking and contactless cards, for example). Although most solutions are developed in-house or provided by established vendors, there is room for emerging FinTech providers.

The theme of “opportunity” is a common one among CEE fintech analysts. In its CEE Fintech Survey for 2017, BCS Global Markets highlighted a number of firms doing business in the region – including Finovate alums mBank, Azimo, and Atsora. In addition to its praise for Poland (“No other country in CEE tops Poland in terms of fintech”), the report also gave high marks for the country it called “Cyber Republic”:

The Czech Republic has a relatively big and fast-growing market for fintech, Its banks are considered some of the safest and best-run in the region, but also the most conservative, which makes them fat targets for emerging fintech firms to either offer new-fangled services to or even take business away from.

Chris Skinner, a fintech author (The Finanser) and analyst who has been involved in the region’s banking scene for more than 20 years, has provided some astute insights into what makes fintech in the CEE different from fintech in the rest of Europe, or the United States, for that matter. Praising the capital markets and competitive banking marketplaces that have developed in nations like Poland, Skinner added:

Because they’ve done all that with new technology, they are hugely innovative. And that’s what I see across Eastern Europe. There’s innovation that you don’t get in mainstream Europe or mainstream America because in mainstream America you are still dealing with technologies that were implemented invented before Mark Zuckerberg was born. Whereas in these countries, all the technologies are from the 1990s onwards, many of them from the last decade. Therefore they are fit for the future, and fit for the present.

With FinovateEurope just one month away, we wanted to take a special look at fintech in the eastern part of the continent. Here we’ll focus on what our Finovate alums – from Europe and beyond – have been doing to take advantage of new markets, new talent, and new opportunities in Central and Eastern Europe.

First, a tip of the hat to our CEE-headquartered alums:

And here’s a review of what Finovate alums – based in the CEE and around the world – have been up to in the region over the past year.

Albania

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.

Azerbaijan

  • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

Austria

  • First Data goes live with Clover Mini and Clover Flex smart terminals in Germany and Austria.

The Baltic States: Estonia, Latvia, Lithuania

  • Estonia’s Cryperium Releases Crypto-Fiat Solution.
  • Coinbase adds six new European markets: Andorra, Gibraltar, Guernsey, Iceland, Isle of Man, and Lithuania.

Belarus

  • FICO to provide KYC and onboarding solutions for Belarus-based lender, Belgazprombank.

Bulgaria

  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Croatia

  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Czech Republic

  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.
  • Silicon Republic features expense-tracking tool BudgetBakers, PFM solution Spendee, and financial services provider for the underserved, Twisto in its list of 10 Outstanding Start-ups from Prague to Watch.
  • EVO Payments to provide payment acceptance services for merchant customers of leading Czech bank, MONETA.

Hungary

  • Erste Bank Hungary readies for immediate payments and open banking era with ACI Worldwide.
  • OTP Bank in Hungary partners with ACI Worldwide to power its digital transformation.

Poland

  • Backbase powers omni-channel digital services for Poland’s BGŻ BNP Paribas bank.
  • Intelligent CIO looks at the merger of Polish fintechs, Braintri and iCompass.
  • Poland’s Braintri merges with iCompass.
  • Braintri awarded the Polish Innovation Award 2018 for its creation of Jiffee, a bluetooth-based mobile payment and loyalty technology, and Biffee, a core banking system offloading engine.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Mastercard partners with Polish Payment Standard to provide contactless payments.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Kontomatik appoints CEO Piotr Warsicki as its new CEO.
  • Revolut announces recruitment initiative in Kraków, Poland to hire 100 new workers in a single day employment in its offices in Eastern Europe.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.

Romania

  • Finastra opens new offices in Romania.
  • Payfone partners with Orange to fight identity fraud in four new global markets, including Poland and Romania.
  • Entrepreneur.com features Fintech OS in a discussion on fintech innovation in Romania.
  • Revolut hires former Lead Marketing Manager of Uber Romania, Irina Scarlat, as its new Country Manager for Revolt Romania.
  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Romanian bank Raiffeisen Bank International (RBI) launches accelerator program, Elevator Lab with five startups, Gauss Algorithmics, SONECT, 360kompany, Asteria, and Moxtra.
  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Slovakia

  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.

Slovenia

  • Open banking platform innovator Token announces that its technology has been implemented by Sberbank in Slovenia.

Ukraine

  • Ukraine’s Akhmetov Bank leverages Corezoid’s cloud-based operating system.
  • Fortytwo Data opens its first international office in Kiev, Ukraine.

Russian Federation

  • Sberbank introduces support for Google Pay.
  • Sberbank offers clients new strategies for investment life insurance.
  • Ingenico Group teams up with Russia’s Sberbank to enable MOIR card payments for online purchases.
  • Tinkoff Mobile extends service to seven additional areas of Russia including Smolensk and the Republic of Mordovia.
  • Tinkoff Bank launches its Tinkoff Mortgage mobile application for its mortgage customers and partners.
  • Tinkoff Bank launches Tinkoff Junior mobile app for children and teenagers.
  • Sberbank unveils its new Payment Schedules solution, enabling users to configure the interface of Sberbank Business Online into an event feed format.
  • Sberbank customers can now add “cash postcards” – automated images with sound – to their money transfers.
  • Sberbank to offer loans of up to RUB 300,000 without proof of income as part of new pilot program.
  • Tinkoff Bank offers access to more than 10,000 global securities via its Tinkoff Investments Premium solution.
  • Sberbank partners with 500 Startups to launch Russian fintech accelerator.
  • Sberbank becomes Founding Partner of World Economic Forum Centre for Cybersecurity.
  • Sberbank and SAP team up to complete cloud-based digital transformation project.
  • Sberbank partners with systems integrator I-Teco to develop joint cloud platform, SberCloud.

Interested in learning more about fintech in Europe? Join us February 12 through 14 for FinovateEurope 2019 at London’s Tobacco Dock. Visit our registration page for more information.

Top Photo “Colorful Krakow Night. Cracow Old Town Main Market Square. Krakow, Poland”Designed by Welcomia

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Vymo Joins Bangkok Bank Accelerator Program

Vymo Joins Bangkok Bank Accelerator Program
By David Penn Posted on
Categories: Vymo

Vymo, a personal assistant for sales professionals, will join Bangkok Bank’s accelerator program, Bangkok Bank Innohub. The 12-week program will provide startups with mentorship and strategic guidance from financial professionals. The process is designed to guide companies toward securing a proof of concept with Bangkok Bank and making a pitch for investment by the program’s end.

“We are excited to be chosen for the Bangkok Bank Innohub program. This is a great opportunity for us to work closely with various stakeholders of one of the largest banks in the region and will enable us to innovate at scale,” Vymo CEO Yamini Bhat said.

Vymo’s technology helps boost the productivity of sales teams, increasing conversion percentages, turnaround time, and sales activity per opportunity. The platform detects the sales representative’s actions automatically, capturing contextual data from phone calls, meetings, emails, and messages.

Vymo then generates actionable insights from the data, letting sales reps know who on their client lists to engage and how, keeping sales managers informed of sales rep activity and progress, and informing sales directors on how best to allocate resources to achieve the best possible sales outcomes.

Above: Vymo Head of APAC Anurag Srivastava demonstrating the company’s platform at FinovateAsia 2018.

The mobile-first, AI-based app is adaptive, learning from the performance of the best sales reps in the organization. Deployed with more than 75,000 sales professionals and achieving a daily average usage of 85%, Vymo has provided companies with a positive revenue impact of 3% to 10%.

One of the largest commercial banks in Thailand, Bangkok Bank has more than 1,165 branches in its network, including 32 international branches in 15 markets in Malaysia and China. The bank’s accelerator program, Bangkok Bank Innohub, operates in collaboration with international venture firm Nest and Bualuang Ventures.

Founded in 2013 and headquartered in Bangalore, India, Vymo demonstrated its personal assistant for sales professionals at FinovateAsia 2018. Last spring, the company announced an expansion into the APAC region with the hiring of Anurag Srivastava, who was previously Head of Finance for Kofax. More recently, Vymo was shortlisted at the Zurich Innovation Championship and won the Best Fintech Startup award at Plug and Play, Singapore.

With more than 35 deployments at global corporations such as Allianz, Generali, and HDFC Bank, Vymo has raised $5 million in funding. The company’s investors include Sequoia Capital India and Microsoft Accelerator Bangalore.

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Finovate Alumni News

By David Penn Posted on
Categories: Entersekt, Finastra, iGTB, Optimove, Temenos, Vymo

On Finovate.com

  • Finding Fintech’s Future in Emerging Europe.
  • Vymo Joins Bangkok Bank Accelerator Program.

Around the web

  • Temenos forges strategic collaboration with Bloomberg.
  • Optimove unveils Streams, a new solution to help measure the impact of marketing campaigns.
  • Entersekt adds digital identity and business development expert, Jennifer Singh.
  • Former head of trade and supply chain finance at Finastra David Hennah joins iGTB.

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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