Finovate Alumni News

On Finovate.com

  • P2Binvestor Scoops Up More Than $7 Million in New Funding.
  • Ahead of Anticipated IPO, ayondo Acquires TradeHero.

Around the web

  • IBM introduces blockchain-based KYC project with Singapore’s KYCK!
  • Cardlytics adds Peter Gleason as president of international operations.
  • Jordan Ahli Bank goes live with T24 core banking system from Temenos.
  • Let’s Talk Payments features Ripple and Plaid in roundup of “startups to support your startup.”
  • Ben Brandt of Retirement Starts Today Radio interviews ProActive Budget.
  • ProfitStars announces RemitPlus Express, a remittance solution.
  • InComm collaborates with CVV+ to reduce payment card fraud.
  • Student Loan Genius powers student-loan benefits for employees of Pinterest, Twilio and Spredfast.
  • Prosper names Chief Executive Officer David Kimball.

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.

Andreessen Horowitz Leads $25 Million Investment in Quantopian

Andreessen Horowitz Leads $25 Million Investment in Quantopian

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With an investment of $25 million led by Andreessen Horowitz, quantitative investment crowdfunding platform Quantopian adds a successful Series C to a year that featured winning the endorsement of billionaire investor, Stephen Cohen. This summer, Cohen invested $250 million in a fund that uses algorithms generated by Quantopian members.

Also participating in Quantopian’s funding round were Bessemer Venture Partners, Point72 Ventures, Khosla Ventures, and Spark Capital—all existing investors. The Series C takes Quantopian’s total capital to nearly $50 million.

“Quantopian has a chance to really disrupt this industry by bringing a distributed-contributor approach to finance, harnessing technology to educate and empower the greatest minds around the world,” says Alex Rampell, Andreessen Horowitz general partner. Rampell, who will join the company’s board of directors, called Quantopian “the next-generation BlackRock”

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Quantopian co-founders, CEO John Fawcett and CTO Jean Breech demonstrated Quantopian Live Trading at FinovateSpring 2013.

Founded in 2011 and headquartered in Boston, Massachusetts, Quantopian demonstrated its technology at FinovateSpring 2013. With more than 300,000 algorithms on its platform, Quantopian gives quantitative-based investment and trading system-developers the capital, data, and R&D environment to build, test, and profit from their trading strategies. The company’s community of developers has more than 90,000 members, and includes everyone from financial professionals and data scientists to students and entrepreneurs.

In addition to funding and investment, Quantopian made 2016 headlines with a set of major C-level hires. In July, the company added Dragan Skoko as its new Head of Trading, and in June, Quantopian brought onboard Jonathan Larkin as chief investment officer and Derek Meisner as general counsel and chief compliance officer.

Finovate Alumni News

On Finovate.com

  • “Andreessen Horowitz Leads $25 Million Investment in Quantopian
  • “Finovate Debuts: GoodData Helps Banks Put Their Data to Work”
  • “Nutmeg Spices Things Up with New $37 Million Investment”

Around the web

  • FinDEVr alum Smart Token Chain completes first smart token transfer via Ripple network.
  • From apps to APIs: Dwolla rebrands as platform.
  • PwC unveils Vulcan Digital Asset Services, a suite of digital currency solutions including digital wallets and international payment processing.
  • Entersekt to power mobile app security for FirstBank.
  • CoverHound partners with Metromile to offer more coverage options for auto and property insurance.
  • WealthForge exceeds $250M in transactions completed on platform.
  • Kabbage hires chief technology officer and chief data officer.
  • AutoGravity to power digital car sales and finance app for Fletcher Jones Motorcars.
  • Visa Developer Challenge winner Corezoid earns recognition at Money 20/20 Hackathon.

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.

Fintech Favorites

Fintech Favorites

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Kara Tham and Goh Wei Hao of Top Image Systems during their demo at FinovateAsia 2016.

Two of the companies in today’s Fintech Favorites, IBM and ACI Worldwide, led presentations at our developers conference, FinDEVr, earlier this year. FinDEVr returns to New York City, 21/22 March 2017, and will make its London debut in June 2017.

Fintech in Asia

  • Thailand’s KBank will deploy IBM’s (FD16) Hyperledger blockchain infrastructure to make it easier to manage complex corporate credit business processes. The bank initially is piloting the technology as a way to certify Letters of Guarantee.
  • “Leading by example,” in the words of Lawrence Ang, MAS has published its first set of data APIs this week. The 12 APIs include datasets on exchange and interest rates; they are part of what Ang, executive director of MAS’s IT dept., says is part of an effort to “encourage financial industry players to publish open APIs on their datasets.” Ang says more datasets will be published as APIs “in the coming months.”

Blockchain

  • KBank’s use of Hyperledger is part of a growing trend toward deploying blockchain technology to simplify and improve business transactions. IBM Technical Evangelist Stefania Kaczmarczyk discussed the opportunities in blockchain technology during her FinDEVr Silicon Valley presentation last month, “Implementation of the Hyperledger Project at IBM with Blockchain-as-a-Service.”

Payments

  • PYMNTS.com interviews W.A. Proctor, VP and product line manager of UP Immediate Payments at ACI Worldwide (FD16) in the wake of the company’s announcement that it would partner with VocaLink to bring end-to-end payments to FIs.

It’s a bot world after all

  • Among the four companies to win Best of Show at FinovateAsia was Finn.ai (F16), with its white-label, virtual bank assistant.
  • Bots are no longer bound to the two-dimensions of a smartphone screen. City Union Bank in Chennai, India, has launched Lakshmi, an AI bot housed in the body of a humanoid robot that responds in English (“and a range of physical gestures”?!) to “generic questions” on more than 125 subjects. The robot, which stands about 20 inches tall and is being tested at HDFC Bank’s innovation lab, can also provide more detailed information such as transaction history on its display screen.

Regtech

  • Mizuho Bank’s subsidiary in the Netherlands is the latest FI to implement risk and regulatory reporting technology from Wolters Kluwer. Along with BGFI, Banco Santander, Taiwan Business Bank, Bank BGZ BNP Paribas, and its parent Mizuho Bank, Mizuho Bank Nederland N.V. will deploy OneSumX to help it meet new regulatory changes from the Dutch National Bank. These changes include providing reports adopting the global standard Extensible Business Reporting Language (XBRL) when producing financial reports.

FinovateAsia 2016: A Tale Told in Tweets

FinovateAsia 2016: A Tale Told in Tweets

img_2092We are thrilled so many people came out to attend FinovateAsia 2016, our first foray into Hong Kong. It was a great opportunity to see firsthand how one of Asia’s most dynamic economies is embracing the worldwide revolution in fintech innovation.

For those unable to attend FinovateAsia in person, our live coverage on Twitter (@Finovate) was a way for fintech fans to follow along. And as always, our live tweeting was supplemented by the insights and observations from our knowledgeable attendees. Here’s a small sample of what they saw and had to say this week in Hong Kong via Twitter.

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Finovate Alumni News

On Finovate.com

  • “FinovateAsia 2016: A Tale Told in Tweets”

Around the web

  • Vantiv to acquire Moneris USA for $425 million.
  • IBM to help Thailand’s KBank develop blockchain network to fast-track complex corporate credit processes.
  • Aerospike launches new version of platform designed for enterprise customer-engagement apps.
  • Wipro wins 2016 Customer’s Choice award in the IT Provider of the Year category of the Payload Asia Awards.
  • Bill.com introduces new digital payments solution, Bill.com Connect.
  • “Overbond Integrates Thomson Reuters Data Universe to Optimize Price Discovery”
  • MX to power financial data for Tyfone digital banking solutions.

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.

Bambu Wins Spot in Hong Kong SuperCharger FinTech Accelerator

Bambu Wins Spot in Hong Kong SuperCharger FinTech Accelerator

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Fresh off its debut at FinovateAsia 2016, Asian robo-advisor Bambu has earned a spot as one of eight startups in SuperCharger FinTech Accelerator 2.0 in Hong Kong. The program, sponsored by Standard Chartered Bank and Fidelity International, lasts 12 weeks and provides participants with working space in Cyberport’s new 4,000-square-foot Smart-Space FinTech Centre.

Quoted in Crowdfund Insider, SuperCharger founder Janos Barberis praised the quality of the eight startups entering the program and said they’re a testament to SuperCharger’s role as one of Hong Kong’s leading accelerators. “[It] reflects the role our accelerator plays for the sourcing of products, solutions, and talent in the financial services industry in this region,” he said.

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Joining Bambu in January are:

The eight finalists were chosen from a pool of nearly 200 applicants from more than 30 countries, an increase of 24% over the previous year. The founders will benefit from a “curriculum structured around bespoke content” including market entry, regulatory obligations, and opportunities to make joint ventures. The accelerator also provides companies with access to a network of more than 90 “partners and mentors” drawn from companies with significant experience in the Asian fintech market.

Founded in February 2016 and headquartered in Singapore, Bambu made its Finovate debut this month at FinovateAsia in Hong Kong, demoing its robo and intelligent digital advisory platform. The company has raised $400,000 in seed funding, and includes Tigerspike among its investors. Bambu added Aki Ranin as chief operating officer in October. Ned Phillips is founder and CEO.

Finovate Alumni News

On Finovate.com

  • Bambu Wins Spot in Hong Kong SuperCharger FinTech Accelerator.

Around the web

  • Lending Stream leverages Decision Management Suite from FICO to build new credit platform.
  • EVRY wins six-year contract extension with Sparebank 1, an alliance of 16-strong Norwegian savings banks.
  • SEB partners with Ripple to build blockchain-based real-time payments system.
  • Wipro launches Open Banking API platform.
  • Riyaz Ladiwala joins Heckyl as CEO for India operations.
  • Guardian Analytics introduces Guardian Analytics Sentinel Treasury Management for fraud protection.
  • Linkable Networks launches platform enhancements to enable retailers to verify purchases.
  • Staples to leverage Tuition.io for student loan repayment benefit option.
  • ProActive launches its 2.0 back end.
  • How Filene and Larky’s Mobile Rewards Pilot Will Promote Stronger Member Loyalty.

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.

BBVA’s Holvi Taps Antti-Jussi Suominen as New CEO

BBVA’s Holvi Taps Antti-Jussi Suominen as New CEO

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Finnish small business digital banking service Holvi will start 2017 with a new CEO.

Former Sulake CEO Antti-Jussi Suominen has been hired by Holvi to serve as the company’s CEO starting in January. Suominen will replace Johan Lorenen, who was Holvi’s CEO for three years. “I am proud to have the opportunity to work for a service innovator like Holvi,” Suominen said. He highlighted the fact that Holvi is owned by BBVA, praising the FI for its “ambition to become the digital bank of the twenty-first century.”

Holvi Board Chair Martti Granberg pointed to Suominen’s experience in building online services and businesses around the world as one major plus of the hire. “His previous experience from various senior executive roles in startup and corporate environments helps in leading the company in its international expansion,” Granberg said.

holvi_antti-jussi_suominenPrior to his more than three-and-a-half years as CEO of Sulake, Suominen was head of international business development at Elisa, and head of entrepreneurial activities at Nokia Americas Bridge Program. Suominen has also served on the boards of GmbH and Beijing Mobiledu Technology Company, a joint venture between Pearson and Nokia. Suominen has spent more than six-and-a-half years at Nokia working in a variety of capacities, including general manager and head of business development. He is a graduate of the Finnish Naval Academy, the Helsinki University of Technology, and the International Institute for Management Development.

Founded in 2011 and headquartered in Helsinki, Finland, Holvi demonstrated its technology at FinovateEurope 2013. In August 2016, the company announced it would partner with fellow Finovate alum SumUp to provide payment services to SMEs and self-employed entrepreneurs who are clients of Holvi. The previous month, Holvi launched its new debit card, the Holvi Business MasterCard for business users in Austria, Germany, and Finland. The company was named to the European Fintech Top 100 this spring, along with 28 of its fellow Finovate/FinDEVr alums, shortly after being acquired by BBVA for an undisclosed amount.

Finovate Alumni News

On Finovate.com

  • BBVA’s Holvi Taps Antti-Jussi Suominen as New CEO.
  • “FinovateAsia 2016 “Best of Show” Winners Announced

Around the web

  • Xignite to license its Market Data Cloud platform.
  • TransferTo adds messaging app Viber to its B2B mobile payment network.
  • eToro unveils new thematic investing service, CopyFunds.
  • Valutrades to integrate Paydentity remote KYC and payment-processing solution from iSignthis.

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.

FinovateAsia 2016 “Best of Show” Winners Announced

FinovateAsia 2016 “Best of Show” Winners Announced

 

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The votes are in and the Best of Show winners of FinovateAsia 2016 have been announced. Thanks to all 36 companies that demoed in Hong Kong this week and a hearty congratulations to the four audience favorites.

The winners are as diverse as the financial technologies they represent. Whether providing merchants with a broader range of payment options via the cloud, or extending the boundaries of what a piece of plastic can do to make commerce better for consumers and card issuers alike, the Best of Show winners reflect an industry that is as interested in making positive incremental change as it is in dazzling us with the latest innovations in biometric authentication and chatbot technology.

Here are the Best of Show winners of FinovateAsia 2016 (in alphabetical order):

AlphaPaymentsCloudLogoAlpha Payments Cloud for its new joint venture with Australia Post that will bring a variety of innovative payment options to online merchants in Australia.

 

DynamicsLogoDynamics for its continued re-invention of the payment card to make multicurrency transactions easier and more efficient for cardholders and merchants, while at the same time delivering significant savings to issuing banks.

 

eyeverify-hi-res-copyEyeVerify whose innovations in biometric authentication technology are a part of the company’s larger initiative to develop a global identity management platform that provides better security for businesses and consumers.

FinnLogoFinn.ai for its white-label, virtual banking assistant that uses natural conversational language to help consumers manage their finances wherever they are.

 

We want to thank everyone who helped make Finovate’s debut in Hong Kong such a big success. From our presenters, sponsors, and partners to our attendees and the hundreds of fintech fans following the conference via our Live Twitter feed @finovate, it is your dedication to and appreciate of financial technology that makes all the hard work possible and so worthwhile. We’ll see you next year!


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, each 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 four 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

Welcome to FinovateAsia!

Welcome to FinovateAsia!

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FinovateAsia 2016 is here! After months of planning and preparation, Finovate’s Hong Kong debut has arrived, and we could not be more excited to see what our 36 fintech innovators from around the world have in store for our largest FinovateAsia audience yet.

Today’s show is divided into four sessions, punctuated by intermissions and networking opportunities designed to make sure you have every opportunity to meet and mingle with both our demoing companies as well as your fellow attendees. As we like to say: come for the high-paced, live fintech demonstrations and stay for the high-caliber networking with some of the most creative and visionary professionals in the business.

So whether you are here with us in the Fragrant Harbor, or following us via our Live Twitter feed @finovate, grab a cup of your favorite morning beverage and maybe a little snack as the house lights dim and the spotlights shine on the presenters of FinovateAsia 2016.

Here’s the agenda for today’s event.

Registration begins at 8:00 a.m.

8am to 8:45 a.m. Registration with Continental Breakfast

8:45 a.m. to 10:15 a.m. First Demo Session featuring:

10:15 a.m. to 10:45 a.m. Intermission with Refreshments

10:45 a.m. to 12 noon Second Demo Session featuring:

12 noon to 1:00 p.m. Lunch

1:00 p.m. to 2:10 p.m. Third Demo Session featuring:

2:10 p.m. to 2:40 p.m. Intermission with Refreshments

2:40 p.m. to 3:50 p.m. Fourth Demo Session featuring:

3:50 p.m. to 6:00 p.m. Networking Session with Open Bar and Appetizers

Best of Show winners will be announced at 5:15 p.m. during the end-of-day networking session.

All demo videos will be available for free in a few weeks in our video archives.