Author: David Penn

The Faves of FinovateSpring: A Brief History of Best of Show Winners

The Faves of FinovateSpring: A Brief History of Best of Show Winners
By David Penn Posted on
Categories: FinovateSpring 2018

Since the first spring fintech conference in 2008, a total of six companies have won Best of Show honors more than once. These companies range from some of our earlier innovators like oflows and Wikinvest that have since gone on to bigger and better things, as well as more recent multiple-time winners like MX and SaleMove that have picked up Best of Show awards at our other events in London and New York.

With FinovateSpring just over a month away, we thought we’d give a tip of the hat to the companies that have helped make our Spring shows especially memorable with their demonstrations of audience-pleasing, Best of Show-winning fintech. Below the six, two-time FinovateSpring Best of Show winners, we’ve also included a complete history of FinovateSpring Best of Show winners. It’s all designed to whet your appetite for the cutting-edge fintech you’ll see on stage on May 8-9 in Santa Clara, California for FinovateSpring 2018.

SaleMove (2017, 2016) – Dedicated to bringing the in-person customer experience online, New York City-based SaleMove leverages its engagement platform to give clients in wealth management, banking, insurance, and other verticals the ability to interact with their customers in the channel – or channels – they prefer. With live video, voice, live chat, and co-browsing, SaleMove’s platform helps financial services businesses communicate better and more effectively with their customers, leading to more sales, more conversations, and improved customer service. The company was founded in 2012, and has raised more than $5 million in funding.

Money Desktop/MX (2013, 2012) – In rebranding to MX in 2014, the multiple-time Finovate Best of Show winner signaled it was ready to maximize its expertise in financial data acquisition, cleansing, and visualization to help financial service providers make the most of their underused and unused data. Founded in 2010 and headquartered in Lehi, Utah, MX has raised $75 million in funding, and began the year with news that Coast Capital Savings – Canada’s largest credit union by membership with more than $20 billion in assets –  would deploy a next-generation PFM solution developed by MX.

PayNearMe (2013, 2011) – With more than $90 million in funding, PayNearMe operates a real time, cash transaction network that gives consumers without bank accounts or access to automatic payments the ability to pay with cash. Founded in 2009 and based in Sunnyvale, California, the company acquired Prism Money in 2016 and shortly afterwards reorganized itself as Handle Financial to better communicate its various brands to consumers.

Dwolla (2012, 2011) – Enterprise payments platform Dwolla is headquartered in Des Moines, Iowa and was founded in 2008 by Ben Milne. The company’s white-label payments API enables businesses to credit or debit user-connected accounts, and its technology is also used for verification and user discovery. With more than $51 million in funding, Dwolla recently announced it would power identity verification for Yahoo!’s Tanda savings app.

oflows (2011, 2010) – Founded in 2009 and acquired by fellow Finovate alum Andera in the fall of 2011, oflows specialized in multi-channel paperless account opening solutions. The company was named a Top 10 Company to Watch in 2011 by Bank Technology News. Andera itself was the subject of an acquisition in 2014, when it was purchased by Bottomline Technologies for $48 million.

Wikinvest/SigFig (2011, 2010) – Known today as SigFig, the company was founded in 2007 as a consumer finance portal called Wikinvest. Picking up a pair of Best of Show awards in the early days of Finovate, the company has since grown into one of wealthtech’s biggest success stories as a wealth management services provider with more than $114 million in assets under management.

And here’s the full list of FinovateSpring Best of Show winners.

FinovateSpring 2017

  • Alpharank
  • Capitali.se
  • Hedgeable AI Lab
  • Microblink
  • Neener Analytics
  • SaleMove
  • SpeechPro
  • Unison

FinovateSpring 2016

  • BanQu
  • LendingRobot
  • PayActiv
  • Quid
  • SaleMove
  • Silver6

FinovateSpring 2015

  • Alpha Payments Cloud
  • Avoka
  • Money Amigo
  • Moven
  • NAMU Systems
  • Shoeboxed
  • Stratos

FinovateSpring 2014

  • EyeVerify
  • Loop
  • Interactions
  • Motif Investing
  • Ondot Systems
  • PrivatBank
  • SaveUp
  • Stockpile

FinovateSpring 2013

  • FamZoo
  • LendUp
  • MoneyDesktop
  • PayNearMe
  • TipRanks

FinovateSpring 2012

  • BehavioSec
  • BillGuard
  • Dwolla
  • iQuantifi
  • MoneyDesktop
  • Personal Capital
  • SoMoLend

FinovateSpring 2011

  • BancVue
  • BankOns
  • Dwolla
  • oFlows
  • Mitek Systems
  • PayNearMe
  • Wikinvest

FinovateSpring 2010

  • Bobber Interactive
  • Expensify
  • oFlows
  • Wikinvest

FinovateStartup 2009

  • BillShrink (now Truaxis)
  • Prosper
  • Silver Tail Systems
  • SimpliFi

FinovateStartup 2008

  • First ROI (now BancVue)
  • Jwaala
  • Zecco
  • Zopa

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Finovate Alums Earn Spots on insideBIGDATA IMPACT 50 List

Finovate Alums Earn Spots on insideBIGDATA IMPACT 50 List
By David Penn Posted on
Categories: Google, Kinetica, MapD, Narrative Science, TIBCO Software

It is no surprise to see companies like NVIDIA, Intel, Dell EMC, and SAS at the top of the quarterly insideBIGDATA IMPACT 50 roster. But what caught our eye was the handful of Finovate alums that won recognition on insideBIGDATA’s review of companies that are “making waves in the technology areas of big data, data science, machine learning, AI, and deep learning.”

“Our in-box is filled each day with new announcements, commentaries, and insights about what’s driving the success of our industry so we’re in a unique position (to) publish our quarterly IMPACT 50 List of the most important movers and shakers in our industry,” Daniel D. Gutierrez, managing editor and resident data scientist of insideBIGDATA wrote in an article accompanying the announcement.

What does it take to make the list? Gutierrez explained that the roster consists of companies that “exhibit technology leadership, strength of offering, proven innovation, positivity of message, quality perception in the enterprise, intensity and frequency of social media buzz, high profile of members of the C-suite, and in the case of public companies: positive financial indicators and stock price, and so much more!”

Our five honored Finovate alums are below. To see the full list of 50 “DataTech” companies, visit insideBIGDATA.

#9 Google (Europe 2018, Fall 2011): Appearing first on the Finovate stage with its Google Advisor solution and as recently as this spring in partnership with KBC Bank Ireland, Google is in the top ten of insideBIGDATA’s Impact 50 list. Google needs little introduction as one of the companies that has done the most to bring the benefits of data to technology consumers via solutions like Search, Maps, Google Play, and its Chrome browser. Founded in 1998, Google is headquartered in Mountain View, California.

#14 Kinetica (Europe 2018, Fall 2017):  Founded in 2009 and headquartered in San Francisco, California, Kinetica enables financial institutions to conduct on-demand risk calculations using the most up-to-date data with “sub-second speed.” High frequency trading firms and traditional asset managers alike can leverage Kinetica’s technology to measure risk, identify customer behavioral patterns, and locate up-sell opportunities. With $63 million in funding, Kinetica includes fellow insideBIGDATA Impact 50 members Dell EMC, NVIDIA, and Google Cloud Platform among its partners.

#15 MapD (Spring 2017, Fall 2016): Developer of the world’s fastest open source SQL engine, MapD harnesses GPUs to deliver extreme speed at scale. Based in San Francisco, MapD provides users with powerful data visualizations made possible by the technology’s ability to query and render billions of rows of data in milliseconds. MapD’s technology originated from research conducted at the MIT Computer Science and Artificial Intelligence Laboratory (CSAIL). Todd Mostak is CEO of the company, which was founded in 2013.

#40 Narrative Science (Fall 2013, Spring 2013): Specialists in Advanced Natural Language Processing (NLP), Narrative Science builds solutions that enable financial institutions to analyze, understand, communicate, and act upon their data quickly and efficiently. The company’s technology can turn ordinary numeric and symbolic data and visualizations into “intelligent narratives” that express insights and context in language that is indistinguishable from that of a human author. Headquartered in Chicago, Illinois, and founded in 2010, Narrative Science has raised more than $43 million in funding. Stuart Frankel is CEO.

#46 TIBCO (Asia 2013, Asia 2012): Founded in 1997 and headquartered in Palo Alto, California, TIBCO is a leader in integration, API management, and analytics. The company’s TIBCO Connected Intelligence Cloud gives enterprise users access to a unified suite of services including the company’s low-code development platform, TIBCO Cloud Live Apps. The company was acquired by Vista Equity Partners in September 2014 in a deal valued at $4.3 billion. TIBCO made headlines earlier this year with the appointment of a new CTO and COO.

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Moxtra Collaborates with OCBC Bank to Help Pilot New Mobile App

Moxtra Collaborates with OCBC Bank to Help Pilot New Mobile App
By David Penn Posted on
Categories: Moxtra

Moxtra will help OCBC Bank Malaysia deploy and test its new Secure Chat Banking mobile app. Recently approved by Bank Negara – the country’s central bank – the pilot will take place in a regulatory sandbox environment with real customers and actual financial transactions. The bank hopes a successful test, which is expected to last for one year, will enable it to provide its premier customers with the first banking app of its kind in the country.

The idea of the new banking app came as a response to a rise in phone-based phishing fraud incidents, in which fraudsters were impersonating bank officials to trick customers into giving them personal information. OCBC Bank Malaysia head of consumer financial service Lim Wyson explained that the result has been to make bank customers very skeptical about banking by phone. “This has made it difficult for banks to carry out even simple, day-to-day, call-back verifications for confirmation of transactions,” he said.

The new app will remove the need for call-back verifications by enabling customers to securely give their financial transaction instructions to their relationship manager. Lim Wyson suggested this will also help make consumers less vulnerable to fraud, as well. “This will improve people’s experience of our services without compromising security,” he said. “It will also ultimately safeguard them from falling victim to phone spoofing and scamming activities.”

Moxtra provides financial services companies with an omni-channel client engagement platform that supports collaboration between clients and relationship managers. The technology features secure messaging, e-signatures, voice layered over content and supports real-time meetings. The service is platform-agnostic, mobile-friendly, and can be white-labeled and integrated into existing workflows.

OCBC Bank has been making major strides in modernizing its banking services of late. Last month, the bank became the first bank in Singapore to offer voice-powered, cashless payments. “This latest service marks a major milestone in banking as it brings us one huge leap closer to making natural language voice-activated banking and payments a reality,” Aditya Gupta, OCBC Bank Head of E-Business Singapore, said in a statement. “This is just a start – we will continue to embed ourselves in our customer’s everyday lives using voice-powered AI tools which they will be able to use for more banking transactions such as bill payments, money management, and common servicing requests in the future,” Gupta said.

Moxtra demonstrated its Engagement Platform at FinovateFall 2017. The company, which was founded in 2012 and is headquartered in Cupertino, California, has more than five million registered users of its solutions. Moxtra has raised $20 million in funding and includes KDDI and Cisco among its investors. Subrah Iyar is CEO.

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Finovate Alumni News

By David Penn Posted on
Categories: BioCatch, Check Point, GoodData, IdentityMind Global, ITSector, Kasasa, LendingTree, MicroStrategy, Moxtra, nCino, Passport, Ripple, Sberbank, Socure, Spacequant, Streamdata.io

On Finovate.com

  • Ripple Joins Hyperledger Project, Launches Hyperledger Quilt Project.
  • Moxtra Collaborates with OCBC Bank to Help Pilot New Mobile App.
  • MicroStrategy Powering Kasasa’s New Insight Solution.

Around the web

  • ThePaypers interviews BioCatch VP Frances Zelazny.
  • Charlotte Business Journal recognizes LendingTree Senior Talent Development Manager Tess Ausman in its 40 Under 40 for 2018 roster.
  • PYMNTS.com talks with Socure CEO Sunil Madhu on Facebook’s challenges with user data.
  • Park Plymouth in Plymouth, Massachusetts deploys Passport’s mobile parking app, PassportParking.
  • IdentityMind Global named to Disruptor Daily’s 10 RegTech Companies Making Waves in the Industry list.
  • Josh Glover, EVP of the Americas for nCino talks with PYMNTS.com about the importance of the customer experience in corporate banking and lending.
  • InfoQ interviews Eric Horesnyi, CEO at streamdata.io.
  • Check Point Software Technologies teams with TrapX Security to launch real-time visibility, threat detection, and rapid threat containment solution.
  • VM Blog interviews Arvin Hsu, Senior Director of Data Science and Machine Learning at GoodData.
  • Spacequant earns finalist spot in PitchIt competition at Lendit Fintech conference.
  • Sberbank Enters Cloud Products Market.
  • ITSector launches ITSCredit spinoff (news in Portugese).

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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FIS to Manage Lease Portfolio for CNH Industrial Capital America

FIS to Manage Lease Portfolio for CNH Industrial Capital America
By David Penn Posted on
Categories: FIS

CNH Industrial Capital America (CNH), the captive finance company for capital goods provider CNH Industrial America, has selected FIS’s asset finance solution for managing its commercial contract and lease portfolio, reports Antony Peyton of Banking Technology (Finovate’s sister publication).

According to FIS, CNH was looking to consolidate management of its disparate commercial contract and lease portfolios on a single integrated platform.

Brett Davis, president, CNH Industrial Capital America, said the solution provides a “new level of configuration, automation and advanced integration capabilities for managing our business.”

By selecting the solution, CNH will get an integrated view of customer and dealer information, “enhancing its decision-making while simplifying accounting and tax reporting, managing regulatory compliance and reducing costs.”

At FinovateFall 2016, FIS demonstrated how it was extending Cardless Cash solution to enable mobile banking customers to pre-order funds and withdraw cash at participating banks and ATMs in more than 70,000 location in the U.S.

In March, FIS was recognized for Best In-Class Wealth Management Outsourcing in the 2018 Family Wealth Report Awards. The company also picked up 15 Stevie Awards in the 2018 American Business Awards for Sales & Customer Service last month,

With more than 20,000 clients in more than 130 countries, FIS is a global financial services technology company with more than 57,000 employed around the world. The company is headquartered in Jacksonville, Florida, and was founded in 1968.

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Finovate Global: Fintech News from the Periphery

Finovate Global: Fintech News from the Periphery
By David Penn Posted on
Categories: ayondo, CustomerXPs, Finovate Global, Nubank

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

Africa

  • TechCrunch profiles Africa-focused microlender, Branch, which recently picked up an investment of $70 million.
  • IT News Africa takes a look at the demand for “senior leaders” in Africa’s growing fintech industry.
  • International money transfer firm PaySend partners with Access Bank Nigeria

CEE

  • Polish Financial Supervision Authority signs MoU with Hong Kong Monetary Authority to encourage fintech collaboration.
  • U.K.-based cross border payments company Ebury opens first office in Bucharest, Hungary. (In Hungarian.)
  • Crowdfundinsider notes the surge in number of registered fintechs in Lithuania courtesy of report from Invest Lithunia.

Asia

  • ayondo celebrates being the first fintech to list in Singapore.
  • Sri Lanka’s largest bank, Bank of Ceylon, to deploy anti-money laundering solution from CustomerXP.
  • Central Bank of Malaysia establishes open API implementation group to develop standards for financial sector.

MENA

  • World Finance Magazine awards Temenos Best Islamic Banking & Finance Software Solution at 2018 Islamic Finance Awards.
  • RAKBANK, also known as The National Bank of Ras Al Khaimah, launches contactless cash withdrawal facility for its more than 170 NFC-enabled ATMs.
  • Dubai International Financial Centre (DIFC) signs MoU with Middle East Venture Partners to support development of the area’s capital technology ecosystem.

LATAM

  • Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round.
  • Mexico enacts legislation to regulate its fintech sector.
  • Colombian roboadvisor Ualet wins honors as Latin America’s Most Innovative Startup at industry event sponsored by Finnovista.

Top image designed by Freepik

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Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round

Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round
By David Penn Posted on
Categories: Funding, Nubank

The startup that made headlines recently for its antitrust complaint against some of its country’s largest banks is the same fintech that raked in a major investment from a group of investors earlier this month.

Founded in 2013 and headquartered in Sao Paulo, Brazil, Nubank has charged Brazil’s big banks with hindering competition in financial services, specifically in the credit card space where Nubank has been making inroads . And now Brazil’s antitrust watchdog, Cade, is on the case. According to Reuters, the five biggest Brazilian banks hold 85 percent of assets in the country’s highly concentrated banking system.

The investigation into Nubank’s complaint is the second time this month that the company has made fintech headlines. Only a few weeks ago Nubank announced receiving $150 million in new funding in a round led by DST Global Investment Partners. Nubank founder and CEO David Velez noted at the time the company had been “cash flow positive since 2017” and that the funding would “serve to further strengthen our balance sheet to support the accelerated growth we have seen since launch.”

“In a little less than four years, more than 13 million Brazilians have applied to become a Nubank customer, a reflection of how ready consumers were to welcome new alternatives to the significantly concentrated Brazilian banking market,” he added. “We look forward to expanding our reach and product offering to many millions more in the years ahead.”

The Series E also featured participation from current investors Founders Fund, Redpoint Ventures, Ribbit Capital LP, and QED. New investors Dragoneer Investment Group and Thrive Capital Partners joined the round, as well.

In addition to its equity capital of $330 million, Nubank received a $137 million (R$455 million) line of credit from Goldman Sachs last year. The company, which won regulatory approval to operate as a bank in January, was named to the KPMG/H2 Ventures’ Fintech 100 in 2017, and also unveiled its new digital account offering to go along with its credit card business.

Founded in 2013 and headquartered in Sao Paulo, Brazil, Nubank participated in our developers conference, FinDEVr New York 2016. At the event, Nubank co-founder and CTO Edward Wible and Lead Software Engineer Lucas Cavalcanti presented Our Money, Our Rulebook, a discussion of how the company built an accounting system in house based on data science modeling, real time customer visibility, guaranteed conservation of money, and customer account histories.

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Pindrop Introduces New Biometric Solution: Tongueprinting

Pindrop Introduces New Biometric Solution: Tongueprinting
By David Penn Posted on
Categories: Pindrop Security

Update 4/2: It appears as if Pindrop got started on April Fool’s fun a little early this year. If you missed the joke, the company’s website still features their “latest biometric “solution.”

If you felt the urge to check the date to make sure today was not the first of April when reading the news of Pindrop’s latest biometric breakthrough, don’t worry. You’re probably not alone.

FinTechFuture’s Antony Peyton reports that the Atlanta-based anti-fraud and authentication specialist has unveiled Tongueprinting, a technology that analyses every person’s unique tongue as its newest biometric engine. FinTechFutures is Finovate’s sister publication.

The idea is for Tongueprinting to stop fraudsters from taking over legitimate accounts by spoofing the call centre with automated bots, social engineering, and knowledge-based authentication questions. Tongueprinting will also help companies build a “frictionless customer experience that are fun, taste good and are easy as a lick of the tongue”.

Vijay Balasubramaniyan, CEO and cofounder, Pindrop, said: “Tongueprinting not only adds an extra layer of security and authentication, it increases the opportunities to generate additional antibodies leading to a healthier user over time.”

According to the firm, the technology analyses thousands of tiny bumps called papillae, as well as factors such as shape, texture, size, spacing of buds and the behaviour of the lick.

Pindrop said it takes “only seconds” – lick your phone, and authentication is achieved. The tongue “lives in your mouth” (we know), and is a “protected unit”, that is safe from external elements avoiding challenges facing other biometrics like frostbite, pink eye and laryngitis.

The firm also cited research by scientists at the University of Arizona, which found that cell phones carry ten times more bacteria than most toilet seats.

Pindrop research shows that licking your phone on average 47 times a day to unlock it, reduces the build-up of bacteria and “ultimately leads to healthier phone owners”.

The company was founded in 2011 and is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, and IVP. Pindrop demonstrated its Fraud Detection System at FinovateFall 2012.

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Finovate Alumni News

By David Penn Posted on
Categories: BioCatch, Darwinex, Enveil, Lendio, Nubank, Palo Alto Software, Passport, Sberbank, Temenos

On Finovate.com

  • Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round.

Around the web

  • West Virginia city Beckley introduces mobile parking app, Passport Parking, powered by Passport.
  • Diginomica features Temenos CTO Dharmesh Mistry in discussion on the importance of core banking renewal.
  • Darwinex launches new performance fee structure, Darwinian Dividends.
  • Lendio opens franchise in Charlotte, North Carolina.
  • The Paypers interviews BioCatch VP, Frances Zelazny.
  • Business News Daily profiles Palo Alto Software’s LivePlan.
  • Enveil wins Cybersecurity Innovator of the Year and Best of Howard County at Maryland Cyber Awards 2018.
  • Sberbank acquires 60% stake in dialog enterprise corporate messenger developer, Dialog.

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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3dcart Picks Payoneer for New Cross-Border Payments Partnership

3dcart Picks Payoneer for New Cross-Border Payments Partnership
By David Penn Posted on
Categories: Payoneer

SEO-friendly e-commerce platform 3dcart will leverage technology from Payoneer to “transform” its cross-border paymenst process to merchants around the world. Through the new partnership, 3dcart will rely on the Payoneer platform’s cross-border functionality, prompt payment processing, and flexible payouts to send payments to more than 200 countries in more than 150 currencies.

“Our mission is to empower businesses to grow globally by enabling them to easily and digitally send payments to their payees all over the world,” Scott Galit, Payoneer CEO, explained, “without having to worry about the complexities and regulations of executing cross-border payments. We look forward to working with 3dcart to open up new global opportunities for their business,” Galit said.

Florida-based 3dcart provides order management software, built-in blogging, email marketing tools, more than 100 mobile-ready themes and 24×7 technical support to help retailers and internet marketers drive online traffic and sales to their stores. In choosing Payoneer, the company said it wanted a solution that would make it easier for their merchants to accept payments globally and called Payoneer “an ideal choice.”

“We’re excited to include Payoneer as an integrated payment method in the 3dcart platform, especially because we have sellers all over the world,” 3dcart COO Jimmy Rodriguez said. “Our clients need a reliable, flexible means of accepting international payments, and Payoneer aligns perfectly with that.”

Founded in 2005 and headquartered in New York City, Payoneer began the year with news that it would power local payments for social navigation specialist Waze’s Carpool service. The company, with more than four million users of its solutions, picked up an investment from China Broadband Capital back in December. Last fall, Payoneer was named to the Inc. 5,000 roster of fastest growing private companies in the U.S. In addition to the businesses that use Payoneer’s cross-border payments platform, companies like Airbnb, Amazon, Getty Images, and Google also take advantage of Payoneer’s mass payout services.

Payoneer demonstrated its Commercial Account at FinovateAsia 2013. The account enables businesses and individuals around the world to receive funds from a global network of corporate companies. Account holders can access funds via low cost withdrawals to bank accounts, prepaid debit with instant spending and ATM access, as well as through a transfer to local eWallets in certain locations.

 

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Bambu Goes Global, Launches London Office, Adds Technical Talent

Bambu Goes Global, Launches London Office, Adds Technical Talent
By David Penn Posted on
Categories: Bambu

The news that robo advisor Bambu has opened a new office in London and won its first American client is a reminder that, in fintech, when the going is good, the good go global.

“We would like to announce a new client project based in America that we landed recently,” the Finovate Best of Show winning company reported in its blog Thursday morning. “We are looking forward to working with them on building a robo solution for their region and will update you all with more details as we get closer to launching it.”

Bambu also announced that the company will open its new London office in April at Level39, Europe’s largest fintech accelerator space. The company said that the new offices are part of the “Bambu’s long-term growth strategy to offer our services and expertise on a global scale.”

Recently recognized as one of Singapore’s hottest startups, Bambu is a B2B robo advisor that helps businesses make wealth management services a part of their digital transformation. Bambu’s robo advisory provides users with automated, technology-augmented and algorithm-based portfolio management. The company offers Intelligent Advisor, a solution for private banks and wealth managers; a white-label robo advisory service geared toward banks, asset managers, and insurance companies; and the Bambu API developer hub, an API library of independent modules that provides developers with the tools necessary to add functionality to the robo advisor platform.

This week the company also took the time to welcome a quartet of new members to the team. In addition to a new Managing Director in Europe, Nick Wakefield, Bambu will enhance its AI, design, and front-end development efforts with the appointments of Chen Jie Yang, Hui Min Lee, and Tino Sambora, respectively.

Founded in 2016 and headquartered in Singapore, Bambu demonstrated its People Like Me machine learning model that helps users identify the financial goals and build a strategy to meet them at FinovateAsia 2017. The presentation by co-founders Ned Phillips (CEO) and Aki Ranin (COO) earned the company a Best of Show award from our audience. Bambu has raised more than $1 million in funding and includes Franklin Templeton Investments and Wavemaker Partners (part of the Draper Venture Network) among its investors.

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Finovate Alumni News

By David Penn Posted on
Categories: Avaloq, Bambu, FIS, IdentityMind Global, Payoneer, SuperMoney, Thomson Reuters

On Finovate.com

  • Bambu Goes Global, Launches London Office, Adds Technical Talent.
  • 3dcart Picks Payoneer for New Cross-Border Payments Partnership.

Around the web

  • Thomson Reuters enhances the investment portfolio risk management functionality of its Eikon solution by integrating MSCI’s RiskMetrics technology.
  • Avaloq announces status as founding partner of FinTech Scotland.
  • IdentityMind Global collaborates with digital shopping platform, Fluz Fluz, to boost KYC and AML compliance.
  • CNH Industrial Capital America (CNH) chooses FIS’ asset finance solution to manage its commercial contract and lease portfolio.
  • SuperMoney surpasses $500 million in loan requests processed since launch in April 2017.

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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