Author: David Penn

Finovate Alumni News

By David Penn Posted on
Categories: ACI Worldwide, Alpine Data Labs, Avalara, BioCatch, Green Key Technologies, iSignthis, Meniga, TransferWise

On Finovate.com

  • Avalara Unveils Enhanced Compliance Document Management Solution, CertCapture
  • Alpine Data Partners with Pivotal to Bring Smart App Building Blocks to Businesses

On FinDEVr.com

  • GreenKey Launches Design Partner Program

Around the web

  • GreenKey launches Design Partner Program with interdealer brokers, Tradition and Tullett Prebon.
  • iSignthis inks card-acquiring and -settlement partnership with National Australia Bank.
  • ACI Worldwide hosts “Coding for Girls” camp.
  • Transfers from Brazil now live on TransferWise.

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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Dashlane and Google Partner to Improve Online Security via Open YOLO

Dashlane and Google Partner to Improve Online Security via Open YOLO
By David Penn Posted on
Categories: Dashlane, Google

dashlane_homepage_Aug2016

Dashlane and Google have teamed up to develop an open API for app developers called Open YOLO, which stands for “You Only Login Once.” The technology makes it easier for Android apps to work with password managers.

“To stay one step ahead of the market demand,” Dashlane’s Malaika Nicholas wrote on the company blog, “Google and Dashlane are helping create a seamless, universally acceptable Android app-authentication solution to increase your online security.” Nicholas added that Dashlane’s development team opted for an open source solution because it gives users a cross-platform security option. She noted that in February, Dashlane announced support for FIDO’s Alliances Universal Second Factor (U2F) authentication standard, the first password manager to do so.
Dashlane_stage2_FEU2013

Left to right: CEO Emmanuel Schalit and Nishant Mani, VP partnerships and marketing, demonstrated Dashlane at FinovateEurope 2013 in London.

While Dashlane is pioneering the Open YOLO effort, other password managers are expected to be involved in the project, and other non-Android operating systems are to be added as well. Among those other password managers expressing interest according to reporting in TechCrunch, are 1Password, LastPass, Keeper, and Keepass. “This is an important initiative for our industry and for the state of user security,” Dashlane CEO Emmanuel Schalit said, “Collectively, we are committed to increasing user security and believe that the best way to do this is to champion open source security projects.” According to a Dashlane spokesperson, more information on the project, including technical documentation and code will be made public soon.

With more than five million users of its technology, Dashlane provides a free consumer app for use on a single device and a premium service for use on an unlimited number of devices for $39.99 a year. Founded in 2009 and headquartered in New York City, Dashlane demonstrated its technology at FinovateEurope 2013. The company launched its Spaces for Mobile solution in July and introduced its redesigned app for iPhone and iPad in June. In May, Dashlane raised $22.5 million in a round led by TransUnion that took the company’s total capital to more than $52 million. And in March, the company announced that former Fab.com executive David Lapter was joining Dashlane as its new CFO.

Founded in 1996 and headquartered in Mountain View, California, Google demonstrated its Google Advisor technology at FinovateFall 2011. The company also participated in the inaugural FinDEVr New York developers conference this spring with a presentation titled “TensorFlow Machine Learning with Financial Data on the Google Cloud Platform.”

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Finovate Alumni News

By David Penn Posted on
Categories: CustomerXPs, Dashlane, FIS, Google, Green Dot, ID Analytics, Narrative Science, Prosper, Revolut, WorthFM, Zopa

On Finovate.com

  • Dashlane and Google Partner to Improve Online Security via Open YOLO
  • Prosper Closes in on $5 Billion Commitment for New Loans

Around the web

  • FIS and Arkansas Governor Asa Hutchinson extend VC FinTech Accelerator program to 2018.
  • Revolut app tops 250,000 users.
  • Narrative Science launches Solution Provider program.
  • Oprah Winfrey Network names WorthFM founder and CEO Amanda Steinberg to the inaugural Opray Winfrey Network SuperSoul 100.
  • Banking technology interviews Rivi Varghese, CEO of CustomerXPs Software.
  • American Banker: Profits, Revenue Forecast Rise at Green Dot
  • Zopa gives a rundown of its four-year history.

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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Dwolla Launches New Dashboard for White-Label Partners

Dwolla Launches New Dashboard for White-Label Partners
By David Penn Posted on
Categories: Dwolla

Dwolla_homepage_August2016

Dwolla’s got a brand new Dash.

Designed to help companies to better manage customer and transaction data, Dwolla’s new dashboard and administrative interface will save its white-label partners time and money while providing actionable insights into business activity and trends. The company hinted at its plans for the new interface in July 2016 when Product Manager James Eliason said that with the “ever-increasing adoption of our white-label bank-transfer API, we understood the need to build a dashboard that accurately reflects the power of that product.” And he noted that partners “need a way to manage the customers they are onboarding, as well as a simple way to view the health of their business from a volume and transactional perspective.”

Dwolla_dashboard

The new dashboard makes it easier to view transactions, reconcile payments, deliver more specific customer support, and to monitor the overall payments integration. Charts and graphs of the data from their own integration with Dwolla’s white-label ACH API provide a clearer, more visually compelling view of each company’s KPIs and overall financial health. Dwolla partner GOAT says it reduced cashout-related support tickets by 80% after its integration with Dwolla’s technology.

Founded in 2008 and headquartered in Des Moines, Iowa, Dwolla demonstrated its FiSync technology at FinovateSpring 2015. In May, the company announced  it was adding banks to its instant account-verification flow, and in February, CoinDesk took a look at how Dwolla was turning its attention to the blockchain. The company was featured in Inc. magazine earlier this year in an article looking at Dwolla’s potential to “disrupt the payments industry.”

 

 

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FinovateFall Sneak Peek: Daon

FinovateFall Sneak Peek: Daon
By David Penn Posted on
Categories: Daon, FinovateFall 2016, FinovateFall 2016 Sneak Peek

Daon_homepage_Aug2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Daon’s IdentityX Platform provides convenient, fast, secure, multifactor authentication in any channel using biometrics, verifying users in less than three seconds and improving the customer experience.

Features:

  • Omnichannel authentication with a mobile-first approach
  • Device binding, geolocation, liveness detection
  • Platform future-proofs customers, allows for new technologies as they become available

Why it’s great
IdentityX allows FIs to move away from passwords by authenticating the person with biometrics for a fast and frictionless user experience that enables customers to securely bank and shop online.

Presenter

Daon_ConorWhiteConor White, President, Americas
White brings more than 18 years of experience innovating and leading identification-management technologies such as biometrics, smart cards, electronic payments, PKI, and information security.
LinkedIn

 

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FinovateFall Sneak Peek: UrbanFT

FinovateFall Sneak Peek: UrbanFT
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Urban FT

UrbanFT_homepage_Aug2016

FF2016-Logo-wdate-largeA look a the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Urban FT will be presenting the Service Integration Director (SID): the first real-time, multi-tier, mobile app-management platform for the financial services industry.

Features

  • Rapidly configure and launch apps without coding
  • Reconfigure apps and change features on the fly
  • Leverage Urban FT’s platform: the richest set of capabilities available

Why it’s great
By eliminating the coding/launching bottleneck, SID ushers in a new era in app development. Users can deploy and manage unlimited apps within the SID UI.

Presenters

UrbanFT_RichardSteggallRichard Steggall, CEO, Co-founder
A successful serial entrepreneur, Steggall co-founded Urban FT, which he leads as CEO. In 17 years in IT&T, he honed skills in global growth strategies and led IPOs on three continents.
LinkedIn

 

Glen Fossella, EVP of Enterprise Growth
UrbanFT_GlenFossellaFossella is responsible for all business-development initiatives, including client and channel partner sales. He has more than 25 years experience building early- and mid-stage technology companies.
LinkedIn

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FinovateFall Sneak Peek: Trusona

FinovateFall Sneak Peek: Trusona
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Trusona

Trusona_homepage_Aug2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Trusona provides the world’s first and only insured cloud-identity suite with an offering that is free to all consumers and is leading the #NoPassword revolution.

Features:

  • Leading the #NoPasswords Revolution
  • The only security solution backed by an A+ rated insurance carrier
  • The only solution with patented anti-replay technology

Why it’s great
Trusona Essential level is FREE for all consumers! This is our gift to the world as the leader of the #NoPasswords Revolution.

Trusona_OriEisenPresenters

Ori Eisen, CEO, Founder
Eisen has spent the last two decades fighting online crime, and is respected for his business knowledge and leadership. Prior to founding Trusona, Eisen founded 41st Parameter.
LinkedIn

 

Trusona_JohnBatesJohn Bates, VP of Sales
Bates is striving to make the world a safer place for children and joined Trusona to fight to make the Internet a safer place.
LinkedIn

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FinovateFall Sneak Peek: Qumram

FinovateFall Sneak Peek: Qumram
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Qumram

Qumram_homepage_Aug2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today. 

Qumram creates an indisputable audit trail of all digital activity (web, social, mobile) that satisfies financial services regulators including SEC, Department of Labor, EU MIFID-II, and more.

Features:

  • 100% capture of every digital interaction, with visual, video-like replay
  • Early, automated fraud detection, internal and external
  • Client-centric visibility, for responsive customer support

Why it’s great
Digital business is the new normal. Qumram’s groundbreaking approach is the only way to operate a fully transparent digital business while ensuring regulatory compliance and mitigating conduct risk.

Presenters

Qumram_SimonScheurer2Simon Scheurer, CTO and Co-founder
Scheurer is an experienced CTO, strategic adviser, and entrepreneur. As a “magician” with a masters degree in mathematics and physics, he loves to solve business challenges through technology innovation.
LinkedIn

 

Bob Trevelyan, VP, Americas
Qumram_BobTrevelyanA proven business builder, Trevelyan is recognized for his specialist expertise in financial services, data warehousing, business intelligence, web security, and customer-experience management.
LinkedIn

 

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Finovate Alumni News

By David Penn Posted on
Categories: Azimo, Daon, Dwolla, Lendio, Markit, PayNearMe, Qumram, Sberbank, TipRanks, Trusona, Trustly, Urban FT, Wealthfront

On Finovate.com

  • PayNearMe Powering Cash Payments for Comcast
  • Lendio by the Numbers: $250 Million in Loans to 10,000+ Small Businesses
  • Azimo Launches Money Transfers on Facebook Messenger
  • Dwolla Launches New Dashboard for White-Label Partners

Around the web

  • Trustly announces new partnership with Nordnet Bank to speed new customer onboarding.
  • Sberbank adds brokerage services to its online system.
  • Wealthfront upgrades its Android app, adding PIN and fingerprint lock and support for IRA contributions.
  • TipRanks launches new feature to allow users to Import their Online Brokerage Portfolio to TipRanks.
  • The International Swaps and Derivatives Association and Markit launch ISDA Amend 2.0.

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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Virtual Piggy Gets Real, Transitions from Payment Card to Mobile App

Virtual Piggy Gets Real, Transitions from Payment Card to Mobile App
By David Penn Posted on
Categories: Virtual Piggy

logo-virtual-piggyVirtual Piggy, the under-17 payment system, is growing up.

The company announced today that it is transitioning away from its origins as a payment card system in order to embrace real-time, P2P mobile payments. In a note at the Virtual Piggy website titled “A Family Focused Mobile Banking Solution,” the company explains its goal of “restor(ing) value to the company” by partnering with “telecom companies, tech firms, and banking companies; strong companies with the financial wherewithal to progress our framework to fully realized product.”

Specifically, the company is abandoning its white-label, bank-oriented debit card strategy in favor of “instant P2P transfers utilizing mobile phones and online systems.” How will the new approach make money? Virtual Piggy is developing an “instant revenue-generating membership system” which they believe will provide greater flexibility, security, and keep customer acquisition costs—and regulatory hurdles—minimal. Virtual Piggy also announced a set of new software utilities that enhance their intellectual property portfolio including their Real Time Regulatory Oversight (ReTRO); Virtual Piggy Secure Financial Messaging (VPSM); and a data-mining app called Networks of Meaning ad-vantage (NOMad).

It has been just over a year since the company announced the neon release of its Oink 2.0 solution, adding TouchID, enhanced notifications, and P2P functionality to allow family and friends to deposit money in the Oink account. The company was featured in USA Today last spring in a list of five financial must-haves for college grads.

Founded in 2008 and headquartered in Hermosa Beach, California, Virtual Piggy demonstrated its technology at FinovateSpring 2013. Co-founded by Dr. Jo Webber and Pradeep Ittycheria, the company rebranded as Oink in late 2013 and has raised $37 million in funding. John Coyne joined the company as CEO and chairman in May 2016.

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Finovate Alumni News

By David Penn Posted on
Categories: Algomi, Fiserv, Handpoint, Temenos, Virtual Piggy, Walletron, Xero

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • Fiserv Adds clearXchange P2P Payments to its Offerings
  • Virtual Piggy Gets Real, Transitions from Payment Card to Mobile App
  • 7 Alum Leaders Named UK’s Coolest People Fintech

Around the web

  • Pennsylvania State Employees CU implements account-origination module from Temenos.
  • Algomi unveils its sell-side engine, Synchronicity, as an SaaS solution.
  • Walletron announces strategic partnership with payment-services company Speedpay.
  • Handpoint Extends Global Processor Reach With EMV Certification To EVO Payments International
  • Xero launches first direct bank feeds in Asia with Singapore’s UOB.

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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Envestnet | Yodlee Forges Strategic Partnership with United Capital

Envestnet | Yodlee Forges Strategic Partnership with United Capital
By David Penn Posted on
Categories: Envestnet, Yodlee

EnvestnetYodlee_homepage_Aug2016

Envestnet | Yodlee’s data-aggregation technology will power United Capital’s FlexScore solution. And yes, that’s the same Finovate alum—FlexScore—that was acquired by United Capital earlier this year.

“By delivering innovative financial planning solutions and new data-driven insights, our partnership will empower FlexScore users to take control of their financial destiny,” Envestnet | Yodlee VP Julie Solomon said. As United Capital’s primary account data-aggregation partner, Envestnet | Yodlee will securely link users’ financial accounts and seamlessly onboard customers while aggregating the necessary data to generate each user’s individual financial health rating or FlexScore.

The FlexScores eventually will be offered as part of FinLifePartners, United Capital’s white-label advisory platform for independent advisers.

“Our business has helped transform the traditional wealth-management industry,” United Capital Head of Platform Mike Capelle said. “For us to continue innovating and benefiting customers, we needed a proven data-aggregation partner that could provide the tools our customers need to take control of their financial lives.”

United Capital is one of the fasted growing RIAs in the country. The firm has $16 billion in assets under management and more than 80 offices in the U.S. When the acquisition was announced in February, United Capital’s CEO called FlexScore “the missing piece” and anticipated that the technology would be used “to help promote customer engagement with retirement plans.”

In acquiring Yodlee just over a year ago for $680 million, Bill Crager, Envestnet president, said he hoped the addition would make it easier for Envestnet to ink deals with independent and smaller financial advisers unaffiliated with the larger firms such as Merrill Lynch and Morgan Stanley. The company’s new strategic partnership with United Capital is a big step in this direction.

Headquartered in Redwood City, California, and with offices in London and Bangalore, India, Envestnet | Yodlee provides data aggregation and analytics to more than 1,000 companies, including 11 of the top 20 U.S. banks. The company trades on the NYSE under the ticker symbol “ENV” and has a market capitalization of $1.6 billion. Yodlee, which went public a year before being acquired by Envestnet, demonstrated its latest technology at FinovateSpring 2016.

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