Author: David Penn

FinovateFall Sneak Peek: ebankIT

FinovateFall Sneak Peek: ebankIT
By David Penn Posted on
Categories: ebankIT, FinovateFall 2018, FinovateFall 2018 Sneak Peek

FinovateFallA look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

ebankIT’s award-winning platform helps financial institutions deliver digital banking transformations, allowing their customers to be one step ahead at a fraction of cost, time, and effort.

Features

  • Omni-channel digital banking delivered fast
  • Full suite applications for banks, credit unions, and mobile-first institutions
  • Core-agnostic, omni-channel digital banking platform

Why it’s great

ebankIT Studio enables rapid development of applications and services whilst maintaining high standards of quality and performance, guaranteeing a superior user experience and quick ROI.

Presenters

Pete Atkinson, VP United Kingdom, North America
Currently Vice President U.K. and Ireland for ebankIT, Atkinson has spent much of his career operating at the convergent point of technology and consumers.
LinkedIn

 

 

Vitor Barros, Pre-Sales Director
Barros is Project Director for R&D department of ebankIT, having managed and implemented several projects over the years, ranging from middleware to mobile platforms and development of innovative applications.
LinkedIn

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Dublin’s Leveris Picks Up Investment from Link Asset Services

Dublin’s Leveris Picks Up Investment from Link Asset Services
By David Penn Posted on
Categories: Funding, Leveris

Irish banking-as-a-platform innovator Leveris announced a strategic investment from Link Asset Services late last week. The amount of the investment was undisclosed, and adds to the $34.3 million (€30 million) in capital the company raised to date.

Leveris founder and CEO Conor Fennelly highlighted Link Group as the leading independent European debt servicer with “deep knowledge of the lending and loan administration industry.” Fennelly added that the two firms “share(d) a common vision” in helping FIs use innovative technology to “evolve(e) banking into a simpler, more personal experience for everyone.”

The new partnership gives Link Group access to a platform that will enable it to grow its banking and credit management business. Specifically, the company plans to use the platform to take advantage of what Robbie Hughes, CEO of Business & Credit Management at Link Asset Services, called “the broader banking universe” made accessible by new technologies. “The Leveris platform delivers enhanced user experiences without complexity, simply and efficiently,” Hughes said.

Leveris’ modular, platform combines full-service, digital retail banking functionality – including deposit-taking and card issuance – with a lending solution. With a fully-integrated back-end, middleware, and front-end, and built using open standards, APIs and protocols, the solution makes it easy for FIs to integrate with third party apps and services. Leveris’ platform serves the needs of both traditional and challenger banks, as well as mortgage, personal, SME, and auto finance lending firms.

Founded in 2014, Leveris demonstrated its Leveris Lending solution at FinovateEurope 2017. In June, the company reported that it was “deep into a pan-European digital retail bank implementation,” having just “delivered a completely digital mortgage solution for a large BPO in the Benlux region”. This spring, the company announced an integration with P2P investment platform, Bondster Marketplace.

Named to the FinTech 100, and honored by the Irish Fintech Awards last fall,  Leveris is headquartered in Dublin, Ireland. The company maintains research capabilities in the Czech Republic and Belarus.

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Finovate Alumni News

By David Penn Posted on
Categories: Cardlytics, Coinbase, EverSafe, Exate, Experian, ID.me, Jumio, Kofax, Leveris, Mitek, Onfido, SocietyOne

On Finovate.com

  • SocietyOne Appoints New CEO as it Nears $500 Million in Total Lending.
  • Dublin’s Leveris Picks Up Investment from Link Asset Services.

Around the web

  • Coinbase rebrands its crypto wallet Toshi as Coinbase Wallet; announces acquisition of Distributed Systems.
  • Experian unveils new integrated data and analytics platform, Ascend Analytics on Demand.
  • ID.me to provide its digital credentialing service to government agencies and healthcare organizations as a white label offering in 2019.
  • Kofax earns spot on the Constellation ShortList for Robotic Process Automation.
  • Biometric Update features Jumio, Mitek, and Onfido in a review of digital identity verification providers.
  • Breaking Banks highlights EverSafe in a conversation on how fintech is meeting the needs of an aging population.
  • Ad Exchanger: Cardlytics Says It Hopes To Expand Beyond Bank-Owned Media.

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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Daon’s IdentityX Helps New Zealanders Create Digital Identities

Daon’s IdentityX Helps New Zealanders Create Digital Identities
By David Penn Posted on
Categories: Daon

RealMe Now, the new mobile app from the New Zealand Department of Internal Affairs (DIA), is leveraging the IdentityX platform from Daon to enable customers to establish a verified identity online. This verified credential will make it easier for individuals to prove their identities when using government and private sector services.

Previously, RealMe credentials were available only by visiting a New Zealand PostShop and securing a facial image capture as part of the onboarding process. The new solution will allow individuals to start the process of securing credentials “anywhere and at any time” by taking a selfie photo which is captured by the RealMe Now app and compared to the user’s passport photo on file with the DIA. If the photo matches, the user is then directed to complete a facial liveness test. Once that is successfully completed, the application is sent to a human Department of Internal Affairs agent for final review before the customer is issued a RealMe verified identity.

“At Daon, we have developed and are now implementing a veritable shopping cart of face liveness with cutting-edge technology like machine learning and other mechanisms to assist our digital onboarding clients across five continents to address the evolving threat vectors,” Daon CEO Tom Grissen said. He praised the New Zealand Department of Internal Affairs’ commitment to providing a safe and secure digital onboarding experience for New Zealanders. “We continue to be very impressed by the agency’s market leadership and are honored to have been chosen to be its partner,” Grissen added.

Daon demonstrated its IdentityX platform at FinovateFall 2016. IdentityX is a universal mobile biometric authentication solution that leverages face, voice, fingerprint, and other biomarkers to provide identity verification. The platform combines biometrics with other techniques including geolocation, device binding, and liveness detection to provide a low-friction, multi-factor authentication experience.

The partnership with New Zealand’s DIA is the second big headline for Daon this summer. In June, the company teamed up with Tradelink to bring biometric authentication options to the customers of Hong Kong’s Dah Sing Bank. Daon began the year with a pair of partnerships, working with Digi-Sign to implement a FIDO biometric solution for a leading Hong Kong bank in February, and forging a strategic partnership with North African technology firm, GEMADEC in January.

Founded in 2002, Daon is headquartered in Reston, Virginia.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finastra, Finovate Global, Ripple, Sberbank, Temenos

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and South Asia

  • Pakistan joins Emirates Islamic QuickRemit online fund transfer service.
  • The State Bank of Mauritius picks Miles Software’s Moneyware platform for wealth management and banking operations.
  • DBS India joins SWIFT Global Payments Innovation (gpi) to bring better cash flow visibility via real-time cross border payment tracking for the firm’s corporate clients in India.

Latin America and the Caribbean

  • Payments Journal highlights Boom Credit, a Miami, Florida-based fintech with a focus on the Mexican market.
  • Pequenas Empresas & Grades Negocios interviews Creditas founder Sergio Furio. (In Portuguese).
  • Central banks of Curacao and St. Maarten partner with blockchain company Bitt to investigate the creation of a digital currency.

Asia-Pacific

  • Singapore’s Association of Banks makes its P2P funds transfer app, PayNow, available for business use.
  • Singapore-based international money transfer startup InstaReM announces new Chief Technical Officer, Niles Pathak.
  • CNBC reports that Ripple is looking to enter the Chinese cross-border payments market.

Sub-Saharan Africa

  • Nigerian digital lending platform Mines picks up $13 million investment.
  • Postbank Kenya launches mobile banking service, M-chama.
  • United Nations Economic Commission for Africa (ECA) teams up with the International Financial Corporation and Ant Financial to support digital financial inclusion in Africa.

Central and Eastern Europe

  • Sberbank sees a cashless payments boom in Russia.
  • Crimea’s largest bank replaces Visa and Mastercard as part of transition to Russia’s MIR payment system.
  • Forbes interviews Olga Feldmeier, CEO of Ukraine-based Smart Valor.

Middle East and Northern Africa

  • Temenos to collaborate with the Venture Lab at The American University in Cairo.
  • National Bank of Egypt chooses Fusion Treasury and Fusion Risk from Finastra in upgrade of its treasury and risk management operations.
  • Agricultural Bank of Sudan goes live on ICS Banks Islamic from ICS Financial Systems.
  • Attijariwafa Bank to deploy Path Solutions’ Sharia-compliant, iMAL core banking solution.

Top image designed by Freepik

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Finovate Alumni News

By David Penn Posted on
Categories: Cardlytics, Daon, Entersekt, Figure Eight, FreeAgent, Infosys, Q2, Temenos, Trunomi

On Finovate.com

  • Cardlytics Hooks Wells Fargo as Partner.
  • Daon Helps New Zealanders Create Digital Identities.

Around the web

  • FreeAgent earns status as an official Account Information Services Provider (AISP) from the U.K.’s Financial Conduct Authority.
  • Two-time Best of Show winner Trunomi teams up with Shyft and BurstIQ to provide an eIdentification solution for online and offline authentication.
  • Temenos partners with Luxhub to help ensure PSD2 compliance for Fortuna Banque.
  • The Australian Military Bank becomes the first FI in the country to commit to SaaS cloud banking with their deployment of Infosys’ Finacle solution.
  • Q2 releases Caliper SDK to enable customers to customize and extend the Q2 platform
  • Figure Eight launches machine learning assisted video object tracking solution to accelerate the creation of training data.
  • CWG to launch Entersekt product line into Nigerian market.

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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TradeIt Teams Up with IBM Cloud for Financial Services

TradeIt Teams Up with IBM Cloud for Financial Services
By David Penn Posted on
Categories: TradeIt, Trading Ticket

Thanks to a new partnership between TradeIt and IBM Cloud for Financial Services, developers will find it that much easier to add universal brokerage functionality to financial apps, platforms, and websites. TradeIt announced this week that developers would be able to use TradeIt’s instant order management solution TradingTicket and its portfolio management product PortfolioView on the IBM Cloud in order to synchronize data and trading with most online U.S. brokers.

TradeIt’s technology connects retail investors to their brokers via the myriad financial services they interact with every day in their mobile banking apps and even social media. By enabling consumers to go seamlessly from reading a stock quote on a watchlist in their PFM app’s dashboard to making an actual investment with their online broker, TradeIt removes friction from the trading and investing process, improving the customer experience.

And by leveraging APIs, TradeIt is able to make these connections securely, maintaining the privacy of the user’s financial information. “Not only do APIs offer a more tailored solution where you essentially get only what you need,” TradeIt CEO Nathan Richardson said in an interview with eWEEK, “(but also) they create a huge potential for innovation.”

TradeIt demonstrated its universal mobile brokerage app at FinovateFall 2015. The app features a quick onboarding process that lets customers fill out an application using information from their government-issued identification and their LinkedIn profile. Online brokers then bid for the customer’s application, with the winning broker completing the application process. This gives trading and investing consumers choice, while online brokers benefit from signing on the accounts that are best fits for their businesses.

TradeIt has raised $12 million in funding and includes Valar Ventures and Newfund Capital among its investors. Founded in 2014, the company is headquartered in New York City. TradeIt’s partners include TheStreet, Marketwatch, Motley Fool, StockTracker, and iStockAlerts.

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HackerOne to U.S. Marine Corps: We’ve Got Your Six

HackerOne to U.S. Marine Corps: We’ve Got Your Six
By David Penn Posted on
Categories: HackerOne

Who defends the defenders? When it comes to the U.S. Marine Corps and the challenge of cybersecurity, the U.S. Department of Defense goes with the white hackers of HackerOne.

“Success in cybersecurity is about harnessing human ingenuity,” HackerOne CEO Marten Mickos explained. “There is no tool, scanner, or software that detects critical security vulnerabilities faster or more completely than hackers. The Marine Corps, one of the most secure organizations in the world, is the latest government agency to benefit from diverse hacker perspectives to protect Americans on and off the battlefield.”

For its sixth bug bounty program, Hack the Marine Corps, the Defense Department has again enlisted hacker-powered cybersecurity firm, HackerOne, to improve security on the public-facing websites of the Marine Corps Enterprise Network (MCEN). The program began with a live hacking event in Las Vegas, Nevada on Sunday. This kickoff event featured nearly 100 white hat hackers who spent nine hours testing and probing the Marine Corps’ public-facing websites for security vulnerabilities. The hackers filed 75 unique valid security vulnerability reports that day, winning more than $80,000 in prize money for their efforts. The bug bounty program continues until August 26th.

HackerOne co-founder Michiel Prins during his presentation “Tapping Hackers to Improve Security” at FinDEVr London 2017.

Hack the Marine Corps is part of the Hack the Pentagon crowdsourced cybersecurity program initially launched by the Department of Defense’s Defense Digital Service (DDS) and HackerOne in 2016. The Marine Corps commitment to improving cybersecurity has grown since then to include the creation of a cyberspace career track for service members. In fact, during the Vegas event, members of the U.S. Marine Corps Cyberspace Command (MARFORCYBER) worked alongside the invited security professionals on both offensive and defensive cyber teams.

“Information security is a challenge unlike any other for our military,” DDS Director Chris Lynch said. “Our adversaries are working to exploit networks and cripple our operations without ever firing a weapon. Sometimes, the best line of defense is a skilled hacker working together with our men and women in uniform to better secure our systems.” More than 5,000 vulnerabilities have been reported in government systems since Hack the Pentagon was launched.

In addition to Hack the Pentagon and Hack the Marine Corps, bug bounty challenges have also been launched with the Army (December 2016), the Air Force (April 2017), and, this spring, the Defense Travel System.

Founded in 2012, San Francisco, California-based HackerOne participated in our developers conference, FinDEVr London, last summer. The company’s presentation, Tapping Hackers to Improve Security, underscored the role and value of bug bounty programs as part of a comprehensive strategy to develop an effective cybervulnerability disclosure program.

More than 1,000 organizations including Google, Nintendo, Lufthansa, and Starbucks have leveraged HackerOne’s white hat hackers to find and fix vulnerabilities before they are discovered by cybercriminals. HackerOne has helped companies resolve more than 76,000 vulnerabilities, resulting in the awarding of more than $32 million in bug bounties to ethical hackers.

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Finovate Alumni News

By David Penn Posted on
Categories: AlphaPoint, Bankjoy, Diebold, LendUp, payworks, Roostify, Telenor banka, Trulioo, Verifone Holdings Inc.

On Finovate.com

  • Payworks to Fuel New Point of Sale Tool for Bambora.
  • Roostify Enhances Customization with New Adapt Tool
  • Check out today’s FinovateFall Sneak Peeks:

Around the web

  • Seasons FCU selects online and mobile banking technology from Bankjoy.
  • Customer experience specialist Truphone partners with Verifone.
  • AlphaPoint taps Sri Manda as its new Chief Information Security Officer.
  • RegTech Supplier Performance Report ranks Trulioo’s GlobalGateway as top ID verification tool for third consecutive year.
  • Telenor pioneers Norwegian Open AI Lab.
  • WSJ features LendUp’s focus on subprime lending.
  • Diebold Nixdorf hires advisers to seek a sale.

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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Moneyhub Expands Platform with Payment Initiation Services

Moneyhub Expands Platform with Payment Initiation Services
By David Penn Posted on
Categories: Moneyhub

When the going gets tough, the tough add payment initiation services to their offering in order to make it easier for users to initiate payments from multiple accounts with a single platform.

That’s the plan of account aggregation specialist Moneyhub, which announced today that it has secured PISP authorization from the Financial Conduct Authority (FCA). This will enable the Bristol, U.K.-based firm to more readily integrate with its bank partners – including new partners Starling and Monzo – and to support payment initiation from bank accounts via the Moneyhub platform. The company is currently linking to additional bank APIs and has launched an API gateway to support data sharing and product development with third party firms.

“The introduction of Open Banking has been transformative for people’s relationships with their finances but its potential is only just being realized,” Moneyhub CEO Samantha Seaton said. “The end of tedious financial administration on the journey to ever increasing financial wellbeing starts here.”

Already operating as an Account Information Services Provider (AISP), Moneyhub aggregates data from multiple accounts and makes the data available in a single location. This makes it easier for consumers to get a holistic view of their finances – from current accounts and credit cards to loans and pensions. PISP authorization adds direct payment functionality to the platform, leading Seaton to announce “frictionless finance has arrived.”

Moneyhub demonstrated its Moneyhub Enterprise SmartAssist solution at FinovateEurope 2017. SmartAssist is an AI-powered, proactive intelligent messenger that helps consumers manage their finances through personalized savings, investment, and borrowing recommendations. Founded in 2009, Moneyhub was acquired by South African insurance company, MMI Holdings in 2014.

Earlier this year, Moneyhub announced an integration with Intelliflo, enabling two-way sharing between financial advisors and their clients. Also this year, the company was shortlisted for the Best Fintech Health and Well Being Innovation Award from the Corporate Advisor Awards 2018.

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Identitii to Raise $11 Million in ASX’s Latest Blockchain IPO

Identitii to Raise $11 Million in ASX’s Latest Blockchain IPO
By David Penn Posted on
Categories: identitii

Digital identity management innovator identitii is innovating in another way this week. The company joins fellow Finovate alum Kyckr as the second blockchain company to launch an IPO on the Australian Stock Exchange.

Kyckr, which demonstrated its corporate identity blockchain technology at our developers conference, FinDEVr Silicon Valley 2016, raised $5.2 million in its blockchain IPO in 2016. This week, we learned that identitii will seek to raise $11 million in advance of an ASX listing in September.

The goal of the IPO is to sell 14.6 million shares at 75c. The $11 million raised will be used in part to support further development and marketing of identitii’s Serra solution, which leverages blockchain technology to help FIs better fight money laundering. A comparable amount will be kept as working capital with smaller amounts dedicated to areas such as R&D and IPO expenses.

Identitii’s IPO is being facilitated via the Equitise equity crowdfunding platform. Read more information about the offering, including minimum and maximum bidding amounts.

Founded in 2014 and headquartered in Sydney, Australia, identitii demonstrated its Serra solution at FinovateFall 2017. Serra combines the best features of distributed ledger technology, and relational and graph databases to enable secure and auditable data exchange between FIs. The technology helps lower compliance costs, accelerate payment processing, and generate potential revenue opportunities for banks. By making rich payment information on each transaction more readily available between parties, Serra helps move FIs from simple, KYC, customer-level data to what identitii calls “Know Your Transaction” information – the unique identity of the transaction.

Named to the Medici Top 21 of RegTech innovators in July, identitii partnered with robot automation specialist Blue Prism in May. Together the companies will develop solutions to help FIs better fight fraud via secure, digitized automated corporate payment and trade transaction processes. Identitii’s SaaS solution went live on the Microsoft Azure cloud last October. Nick Armstrong is co-founder and CEO.

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Finovate Alumni News

By David Penn Posted on
Categories: AlphaPoint, Crypterium, Envestnet, Holvi, identitii, Lendio, Moneyhub, Prosper, Temenos, Xero

On Finovate.com

  • Moneyhub Expands Platform with Payment Initiation Services.
  • Holvi Helps Uber Drivers Manage Finances with New Partnership.
  • Identitii to Raise $11 Million in ASX’s Latest Blockchain IPO.

Around the web

  • NICE partners with Cloud9 Technologies to combine compliance recording and cloud-based voice trading.
  • AlphaPoint earns Best Distributed Ledger Technology Provider by the 2018 Waters Rankings.
  • Prosper reports more than $13 billion loans originated since inception.
  • Xero unveils the finalists of its 2018 Xero Awards.
  • New partnership with Envestnet will make Allianz Life annuity products available on Envestment’s insurance exchange.
  • Bitcoin News features Crypterium. Come see their live demo at FinovateFall next month.
  • QuickBridge partners with Lendio for its Turndown lending program.
  • Temenos and AUC Venture Lab team up to accelerate fintech innovation in Egypt.

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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