Author: David Penn

Finovate Alumni News

By David Penn Posted on
Categories: Alpha Fintech, Alpha Payments Cloud, DefenseStorm, Fenergo, Hip Pocket, ID.me, Juvo, Klarna, Market IQ, Xero

On Finovate.com

  • Fenergo Helps Santander Enhance Customer Onboarding Experience.

Around the web

  • Juvo partners with Malaysian mobile virtual network operator (MVNO), Tune Talk. Join Finovate as we return to the Far East for FinovateAsia in November.
  • Alpha Payments Cloud accentuates its end-to-end middleware technology in rebrand to Alpha Fintech.
  • Klarna completes acquisition of German online payment specialist, BillPay.
  • ID.me adds support for FIDO U2F (Universal Second Factor) Security Keys.
  • DefenseStorm wins 2017 IDC FinTech Rankings Real Results Award for Digital Trust and Stewardship.
  • Alpha FinTech (formerly Alpha Payments Cloud) and Market IQ shortlisted for inaugural FinTech Abu Dhabi Innovation Challenge in October. Join our first foray to the Middle East as Finovate comes to Dubai in December.
  • Hip Pocket founder Mark Zmarzly to help promote innovation and provide mentorship to fintech startups in Australia as part of new Queensland-sponsored initiative.

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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FinovateFall 2017 Best of Show Winners Announced

FinovateFall 2017 Best of Show Winners Announced
By David Penn Posted on
Categories: Best of Show, Envestnet, Finn.ai, FinovateFall 2017, Jiffee, Sensibill, SpyCloud, Sustainably, Voleo, Yodlee

Join us in a hearty congratulations for the seven companies that earned not just the admiration of our FinovateFall 2017 attendees, but their votes for Best of Show, as well.

With more than 70 companies demonstrating their technologies live on stage over the course of two days, some diversity in theme and topic is to be expected. What is especially interesting about our Best of Show winners this time around is that, while numbering only seven, these innovators still reflect a wide variety of approaches toward solving some of the most vexing challenges in our financial lives. These are the technologies that we increasingly turn to for help when it comes to saving and investing for the future, working better and more efficiently with our banks and credit unions, and safeguarding our property, our financial transactions, and even our identities against fraudsters, hackers, and other malevolent actors.

So hats off to the Best of Show winners of FinovateFall 2017. From Finovate veterans that have been honored by our attendees with Best of Show trophies in the past to newcomers who made huge, positive impressions in their Finovate debuts this week, these are the companies that help define our industry and show us the direction of fintech innovation to come.

Envestnet | Yodlee for its Financial Health Check that leverages account and transaction-level data to measure and score overall financial health across multiple dimensions including spending, savings, borrowing, and planning.

 

Finn.ai for its Virtual Banking Assistant, powered by artificial intelligence and available via channels ranging from Facebook Messenger to Amazon Alexa, which makes everyday banking simple and easy for customers.

 

Jiffee for its tap & pay mobile technology that turns any device into a payment terminal, enabling consumers to pay anywhere and everywhere without relying on plastic credit and debit cards.

 

Sensibill for its +Pulse solution that helps spot revenue opportunities from on- and off-card purchase data, providing a targeted prospect list for personalized, in-app campaigns.

 

SpyCloud for its monitoring and alert service that helps organizations better understand their employee and customer digital footprints by giving them visibility into their exposed credentials actively being traded in the underground.

 

Sustainably for its social good platform for consumers and businesses that turns the spare change from shopping into micro-donations to philanthropic causes.

 

Voleo for its social trading app that makes it easy for people to invest together, saving time and money, while simultaneously leveraging the collective wisdom of networked investors to pursue market-beating returns.

We want to thank all of the companies that demonstrated their technologies live on stage this year for FinovateFall 2017. From AI, the blockchain, and chatbot technology to mortgagetech, payments, and voice-enabled banking, the breadth of solutions and services shown over the past two days of our conference bodes well for the future of fintech. And be sure to join us Wednesday morning at 9:15 a.m. as we host our first-ever roundtable discussion featuring representatives from each of our Best of Show winning companies.

Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The seven companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017

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FinovateFall 2017: Demo Days Review and Preview

FinovateFall 2017: Demo Days Review and Preview
By David Penn Posted on
Categories: FinovateFall 2017

The first day of FinovateFall 2017 is in the books. With 36 companies presenting their technologies live on stage Monday morning and afternoon, fintech fans were treated to an advance look at what our industry’s top executive and technical talent has to offer. If you missed our opening day of demos, don’t worry. We’ll have videos of each and every demonstration available in our video archives within the next few weeks.

As a refresher, here are the companies that demonstrated their technologies on Day One of Finovate Fall.

And below is the schedule for the companies that will be demonstrating their latest innovations on Tuesday, Day Two of our Demo Days presentations.

>> 8:45 to 10:15: Demo session 5 <<

>>10:15 to 10:45: Intermission & refreshments<<

>>10:45 to 12:05: Demo session 6 <<

>> 12:05 p.m. to 1:00 p.m. Buffet lunch <<

>> 1:00 p.m. to 2:20 p.m.: Demo Session 7 <<

>> 2:20 p.m. to 2:50 p.m.: Intermission & refreshments<<

>>2:50 p.m. to 4:10 p.m.: Demo Session 8 <<

>> 4:10 p.m. to 6:15 p.m.: Open bar reception, networking, and Best of Show presentation <<

Remember that after two days of live fintech demonstrations, FinovateFall 2017 continues on Wednesday and Thursday with two days of keynote addresses, panel discussions, roundtables and more. To get a peek at our expanded, Discussion Days schedule, check out our agenda for more.

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Ready, Steady, Go! Welcome to FinovateFall 2017

Ready, Steady, Go! Welcome to FinovateFall 2017
By David Penn Posted on
Categories: FinovateFall 2017

FinovateFall 2017 drops on Monday – which means it’s rehearsal day here at the New York Hilton Midtown. And while the rest of the town is gearing up for the opening day of the NFL season, we’ve busy with tech checks, run-throughs, and all the preparations needed to ensure that our biggest FinovateFall to date will be our best FinovateFall yet.

And to help you make the most of your time here at our newly-expanded FOUR DAY conference, here are a few last-minute notes to keep in mind before you make your way to Manhattan.

What

This year, FinovateFall is a four-day affair, with two days of live demonstrations and two days of keynotes, panel discussions, and roundtables on many of the most critical issues and innovations in financial technology today. Check out the agenda and see what we’ve got planned for you.

Where

FinovateFall returns to the New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019. The hotel is located in the heart of Manhattan and is readily accessible by public transportation.

When

FinovateFall begins Monday, September 11 and concludes Thursday, September 14. Live demonstrations will take place Monday and Tuesday. Keynotes and panel discussions will take place Wednesday and Thursday. Registration begins at 8am, with the first demonstrations beginning on Monday and Tuesday at 8:45am. On our Discussion Days, we will begin at 9am.

Who

FinovateFall features more than 70+ fintech companies – both innovative startups and industry veterans – who will demonstrate their latest technologies live on stage during our Demo Days on Monday and Tuesday. During our Discussion Days on Wednesday and Thursday, you’ll hear from some of the leading thought leaders in the financial technology industry today. And with our newly-expanded format, look forward to joining upwards of 1,600+ of your fellow (and soror) fintech fans over the course of our four-day event.

Why

FinovateFall provides fintech professionals with an opportunity to see the future of fintech today. The companies that demo their technologies live at Finovate conferences are the same innovators that financial institutions all over the world seek out for partnerships, collaborations, and insights into how to use technology to better serve, engage, and understand their customers and clients.

How

FinovateFall tickets are still available! Whether you’re focused on the live demonstrations during our Demo Days, looking forward to hearing from fintech visionaries during our Discussion Days, or planning to stay the whole week, visit our registration page today and save your spot.

This year we are offering a new way to help you and your colleagues make the most of our new, four-day Finovate experience. With our Split Your Ticket program, you can split the four-day conference with a colleague and pay just $700 more instead of paying the regular ticket price for each attendee. And, as always, group discounts are available, as well. Check out our FinovateFall registration page for more information.

Another way to maximize your participation at FinovateFall is to join the FinovateFall community on our event app. Keep up with the event agenda, network with fellow attendees, and learn more about our demoing companies, our Discussion Days speakers, as well as our sponsors and partners. The app is available at both Google Play and the Apple Store. Download. Log-in with your registration e-mail. And get social! If you have any difficulties with the app, please send us an e-mail at fall@finovate.com.

We’re looking forward to seeing you in New York!

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Cloud Lending Solutions Picks Up Investment from ABN Amro’s Digital Impact Fund

Cloud Lending Solutions Picks Up Investment from ABN Amro’s Digital Impact Fund
By David Penn Posted on
Categories: Cloud Lending Solutions, Funding

ABN AMRO’s venture capital fund, the Digital Impact Fund (DIF) has made an investment in Cloud Lending Solutions this week. The amount of the funding was not disclosed. “We are excited for the long-term support of ABN AMRO’s Digital Impact Fund with this investment,” Cloud Lending Solutions CEO Snehal Fulzele said in a statement. “We look forward to working with DIF to deepen out global footprint and broaden our lending impact.”

This week’s funding adds to the more than $8 million in capital already raised by Cloud Lending Solutions, which also completed a Series B round in February (amount undisclosed). ABN AMRO joins SF Capital Group and Cota Capital as investors in the company.

Pictured: Cloud Lending Solutions co-founder and CEO Snehal Fulzele demonstrating CL Exchange at FinovateSpring 2015.

Director of DIF, Hugo Bongers, praised the company’s management team, its “broad and innovative product portfolio,” and its track record. “With Cloud Lending Solutions’ robust worldwide growth, they will be able to utilize our investment to further their global expansion,” Bongers said. Headquartered in San Mateo, California, Cloud Lending Solutions also currently has offices in London, Sydney, and Bangalore.

Cloud Lending Solutions provides end-to-end loan and leasing technology that digitizes every aspect of the lending process including origination, underwriting, servicing, and collections. Built natively on Salesforce.com, the company’s solutions enable FIs to leverage the cloud to provide alternative financing to unbanked and underbanked communities worldwide. Founded in 2012, Cloud Lending Solutions demonstrated its CL Exchange platform at FinovateSpring 2015. CL Exchange gives participating online marketplaces and lenders the ability to exchange both consumer and business loan applications to source the most appropriate loans for each company’s lending portfolio. Last month, the company introduced new enhancements to its CL Lease solution in an upgrade that included more than 45 specific product changes and “hundreds of smaller updates.”

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Finovate Alumni News

By David Penn Posted on
Categories: Cloud Lending Solutions, Digital Onboarding, Geezeo, Harborx, Icon Solutions, Veridium

On Finovate.com

  • Cloud Lending Solutions Picks Up Investment from ABN AMRO’s Digital Impact Fund.

Around the web

  • Digital Onboarding and Geezeo forge new partnership. See Digital Onboarding at FinovateFall next week.
  • Icon Solutions initiates functional testing between Instant Payments Framework and RT1.
  • Veridium CTO John Callahan discusses the potential of iris recognition as a biometric security solution for the enterprise.
  • Harborx Wins two Innovation Awards from the World Finance Markets.

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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Realty Mogul Launches Second REIT, MogulREIT II

Realty Mogul Launches Second REIT, MogulREIT II
By David Penn Posted on
Categories: Realty Mogul

Just one year after celebrating the first anniversary of its first real estate investment trust (REIT), Realty Mogul has unveiled its second REIT offering: MogulREIT II. The trust will invest in multi-family apartment communities that have shown “consistently high occupancy and income levels across market cycles,” according to the company’s press release.

Calling multifamily housing “a great sector for investment,” Realty Mogul CEO and co-founder Jilliene Helman pointed to how consumers – especially millennials –  are shifting from buying a home to renting. She highlighted this generation’s preference for lifestyle flexibility, but added “we’re even seeing an emerging demand among baby boomers, who are moving back into city centers from their home in the suburbs.”

“The response to MogulREIT I overwhelmingly reinforced our view that retail investors are looking for a better way to invest in real estate,” Hrach Simonian, General Partner at Realty Mogul investor, Canaan Partners, said. “Multifamily is one of the most requested products by our customers and we have tailored this fund to that category.”

Founded in 2012 and headquartered in Los Angeles, California, Realty Mogul demonstrated its technology at FinovateSpring 2013. The company enables accredited, non-accredited, and institutional investors to invest in a variety of real estate properties through its secure, private, online platform. Investors can search and review investment opportunities on the platform, as well as examine due diligence information, and sign legal documents in a secure environment.

Finovate research analyst Julie Muhn profiled Realty Mogul in her look at Real Estate Investing Tech earlier this year, and interviewed CEO Helman in her feature “Why PropTech and MortgageTech Are the Future of Fintech.” Realty Mogul has raised more than $46 million in funding, and includes Sorenson Capital and Canaan Partners among its investors.

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German Challenger Bank N26 Deploys Banking Technology from Mambu

German Challenger Bank N26 Deploys Banking Technology from Mambu
By David Penn Posted on
Categories: Mambu

Mambu has gone on the record about its core banking software project at N26, a German-based challenger bank, reports Tanya Andreasyan of Banking Technology (Finovate’s sister publication).

N26 is using Mambu’s flagship core system, provided on a Software-as-a-Service (SaaS) basis. The vendor said it enables the mobile-only bank “to integrate systems and quickly bring services to market in support of its growth strategy”.

N26 migrated to Mambu’s platform once it obtained its own banking licence late last year. Prior to that, it had been relying on a partner bank.

The bank’s customer base has recently reached 500,000 across Europe.

According to Gino Cordt, CTO of N26, the new platform resulted in a “drastic” decrease of the bank’s operating costs and minimising the IT resource requirements.

Cordt also complimented Mambu’s “ease of integration, flexibility and time to market”.

Mambu’s core banking system supports current accounts, overdraft and loan products at N26.

Eugene Danilkis, co-founder and CEO of Mambu, praised N26, saying “By putting customer experience at the centre of their strategy, they have created an app which gives their customers a truly simple banking experience.

“This is a great example of how retail banking can be redesigned in the 21st century.”

Mambu demonstrated its technology at FinovateAsia 2013 in Singapore. Headquartered in Berlin, the company has raised more than $13 million in funding, and includes Action Capital Partners and CommerzVentures GmbH among its investors.

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FinovateFall Sneak Peek: RateSeer Technologies

FinovateFall Sneak Peek: RateSeer Technologies
By David Penn Posted on
Categories: FinovateFall 2017, FinovateFall 2017 Sneak Peek, RateSeer

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

RateSeer’s Denoti provides clients with customized up-to-the-minute detection and notification of changes to any number of thousands of market indicators on any device.

Features

  • Instant detection and notification for 1,000’s of market indicators
  • Mobile access to user-defined, real-time actionable data
  • Sleek custom dashboards with simple market visualizations

Why it’s great
Denoti also offers custom data and visualization solutions with its technology, data, and infrastructure along with client data, optional smart news feeds, and predictive market analysis.

Presenters

Donna Tilden, CEO and Founder
More than the stereotypical accountant, Tilden combined decades of financial services experience with her passion for innovative, accessible technologies, and wealth management excellence.
LinkedIn

 

Brian Smith, Head of Business Development
Smith is a wildly successful West Coast entrepreneur with decades of sales and wealth management experience.
LinkedIn

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FinovateFall Sneak Peek: ITSector

FinovateFall Sneak Peek: ITSector
By David Penn Posted on
Categories: FinovateFall 2017, FinovateFall 2017 Sneak Peek, ITSector

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

ITSector is an IT company specializing in credit solutions and digital transformation.

Features

  • Credit origination solution contemplating all stages of credit lifecycle and all types of credit
  • UI with bots and augmented reality
  • Proactive banking with instant messaging

Why it’s great
Flowcredit is a management platform to all credit contracting stages. It is the perfect banking solution for the entire credit lifecycle.

Presenters

Sara Martins, Business Developer
With a background in management, Martins is responsible for exploring market opportunities and for building key customer relationships.
LinkedIn

 

Ana Silva, Marketing Manager
Silva implements and executes ITSector’s strategic marketing plan, helping build brand value and increase sales.
LinkedIn

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FinovateFall Sneak Peek: Promontech

FinovateFall Sneak Peek: Promontech
By David Penn Posted on
Categories: FinovateFall 2017, FinovateFall 2017 Sneak Peek, Promontech

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Are you ready for the next generation mortgage journey? PromonTech creates technology that lenders and consumers can use collaboratively, transforming the digital mortgage experience.

Features

  • Allows lenders and their customers to move seamlessly between self-serve and loan officer-assisted processes
  • Offers an easy, visually-appealing drag-and-drop interface
  • Seamlessly feeds the downstream loan origination process

Why it’s great
Promontech promotes data quality and regulatory compliance through visual design, automation, and analytics. The result? A flexible delivery culture that champions velocity and quality.

Presenters

Michael Kolbrener, Chief Technology Officer
Kolbrener has a diverse history creating technology solutions. He builds high-performance teams recognized for their leadership, technical expertise, and delivery.
LinkedIn

 

Tony Pietrocola, Head of Sales
Pietrocola got his start as an Apple Computer Systems Engineer and has founded and grown two successful technology companies in fintech and SaaS software, including vLoan.com and Bridgeline Digital.
LinkedIn

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FinovateFall Sneak Peek: BLUERUSH

FinovateFall Sneak Peek: BLUERUSH
By David Penn Posted on
Categories: BLUERUSH, FinovateFall 2017, FinovateFall 2017 Sneak Peek

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

BLUERUSH specializes in reimagining financial tools and experiences to drive more active financial decision-making and smarter conversations.

Features

  • Creates a humanized experience that mimics an advisor conversation
  • Transforms financial tools from simple advertisements to lead generation opportunities.
  • Simplifies complex financial concepts

Why it’s great
Personalization is key to competing in the digital space. INDIVIDEO creates a more compelling story that makes more active financial decision-making and more impactful marketing outreach.

Presenters

Larry Lubin, CEO and President
Lubin is the founder of BLUERUSH and has been a leading individual in the financial services space. Being a key strategist on several major initiatives, he has driven the evolution of fintech.
LinkedIn

 

Matt Wrobel, Marketing Strategist
Bringing a unique background in science, business, and technology, Wrobel has played a major role in leading BLUERUSH’s product and business development.
LinkedIn

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