FinovateFall Sneak Peek: Enova Decisions and ID Analytics

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

Enova Decisions, decisioning experts with deep experience in nonprime consumers, joins ID Analytics, a leader in credit and fraud risk solutions, to present Solution Accelerators.

Features

  • Make more accurate credit decisions in real-time
  • Quickly activate best-in-class data, analytics, and machine learning
  • Streamline fraud detection, identity verification, and credit risk assessment

Why it’s great
Launching a new product and don’t want to deny creditworthy customers? Solutions Accelerators enable businesses to make smart credit decisions now and better decisions tomorrow.

Presenters

Sean Naismith, Head of Analytics Services, Enova Decisions
Naismith has 18+ years of professional experience with unique insights into analytics, marketing, finance, and IT. He currently oversees strategy and development of decisioning solutions.
LinkedIn

 

Jason Heil, Head of Credit Risk Solutions, ID Analytics
Heil has 10+ years of experience with credit risk scoring in consumer lending. He currently manages strategy, planning, execution, measurement, and closeout of credit solutions.
LinkedIn

 

FinovateFall Sneak Peek: Loan Scorecard

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

Portfolio Underwriter from LoanScorecard is the only underwriting engine outside of the agency box. Investors, banks, and credit unions can analyze loan data for unique product guidelines in seconds.

Features

  • Underwriting Efficiency / Consistency / Increased Production
  • Risk & Compliance Management / Protects from Fair Lending Violations
  • Growth for Non-QM Channels / Serve More Borrowers

Why it’s great
Along with DU and LPA, Portfolio Underwriter is the third leg to the automated underwriting ecosystem and the key to serving more borrowers and increasing production.

Presenter

Raj Parekh, Digital Mortgage Strategist
Parekh leads the development and delivery of digital mortgage solutions that increase efficiency for investors, portfolio lenders and brokers, and improve the customer experience for borrowers.
LinkedIn

 

FinovateFall Sneak Peek: Alpharank

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

See the Alpharank Marketing Cloud deliver net new deposits cost-efficiently. Alpharank builds a graph using core transaction data to identify customer networks and amplify marketing.

Features

  • Reduce the deposit-weighted cost of acquisition
  • Increase deposits and primary households within your existing base
  • Radically improve adoption of services like mobile, Zelle, and eStatement

Why it’s great
Alpharank helps banks and credit unions find great new users and deepen relationships by building a graph model of your current base.

Presenters

Brian Ley, CEO and Founder
Alpharank increases the efficiency of FI’s digital marketing efforts. Acquire new deposits at lower cost with Alpharank’s Marketing Cloud – powered by the graph.
LinkedIn

 

Yoela Palkin, VP Engineering – Technical Team Lead
Palkin is a three-time founder with two successful exits. At the age of 17, she transferred into UC Berkeley as a junior and began seeing the opportunity in mobile and SaaS enterprise applications.
LinkedIn

 

FinovateFall Sneak Peek: NestReady

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

NestReady uses machine learning to position lenders at the center of the consumer home buying journey.

Features

  • Control over the home buying journey
  • Actionable insight and automation around the customer lifecycle
  • Reduce customer acquisition costs while increasing retention

Why it’s great
Only an integrated digital home buying journey combined with NestReady’s predictive analytics models can empower mortgage lenders with actionable insights to thrive in our challenging landscape.

Presenter

Frederick Townes, Chief Technical Officer
Townes is a serial entrepreneur, technologist, and angel investor from Boston who served as co-founder and CTO of Placester and Mashable. He is the co-founding CTO of NestReady.
LinkedIn

FinovateFall Sneak Peek: Experian

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

Experian is powering opportunities for businesses with a new cloud-based platform that enables precise customer decisions using a blend of best-in-class data, analytics, and decision strategies.

Features

  • Turns knowledge into value and action, quickly and easily
  • Adheres to highest security standards
  • Drives innovation into the decisioning process, elevating the digital customer experience

Why it’s great
Makes fast, accurate lending decisions using data, decisioning and analytics expertise, driving meaningful outcomes for consumers.

Presenters

Robert Boxberger, President, Decision Analytics in North America
Boxberger has 20+ years experience solving business challenges using innovation in data and analytics for credit and fraud management across industries.
LinkedIn

 

Finovate Alumni News

On Finovate.com

  • IdentityMind Webstore Helps Businesses Integrate Compliance Solutions

Around the web

  • Fiserv launches digital account opening and loan origination platform, Originate.
  • Standard Chartered announces new chief operating officer, David Whiteing.
  • Coinbase to support new cryptocurrency pairs for GBP: ETH-GBP, ETC-GBP, LTC-GBP, and BCH-GBP.

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.

SynapseFI Raises $17 Million in New Funding

 

SynapseFI is making public what insiders have known for months: the Bay Area banking platform provider closed a $17 million Series A late last year. Trinity Ventures and Core Innovation Capital led the round.

In a blog post thanking the customers who “build awesome products on top of us and pay our bills,” company CEO and founder Sankaet Pathak explained both what SynapseFI does and what he called “our super secret plan” to democratize banking.

“Our super secret plan is to build a better operating system for banking that is less expensive to maintain and easy to innovate on top of,” he wrote. “Then to change banking from a lending or transactions business to a SaaS business.” In order to do this, SynapseFI focuses on three areas: back office automation to lower per customer costs, vertical integration of all products and services, and behavioral economic research to help firms build consumer-friendly financial solutions.

“I am beyond excited for what lies ahead,” Pathak wrote. “The capital infusion is not just a testament to the team executing well; it is also a testament to the need for democratized financial access for all people – regardless if they hold ten dollars in their bank account, or ten million.”

Founded in 2015, SynapseFI demonstrated its white label loan issuance solution at FinovateSpring 2018. The solution provides origination and servicing of unsecured consumer and business loans, including customizable decisioning, automated compliance, and smart notifications. With a goal of simplifying banking, SynapseFI provides an intuitively-designed bank with more efficient, automated back office and access to key services for all customers.

SynapseFI began the year with news that it would support interchange processing for debit and credit card transactions. Last month the company announced new custodial accounts for escrow, payment, and crowdfunding applications, as well as a new multi-bank savings account offering that enables per user FDIC coverage of up to $16 million.

In May SynapseFI unveiled its first Crypto Wallet for Bitcoin (recently updated). The company began the year with the launch of its Design Lab, which helps developers improve the UX for their financial solutions.

Finovate Global: Fintech News from Around the World

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

Sub-Saharan Africa

  • BanQu launches partnership with Anheuser-Busch InBev to revolutionize supply chain transparency in Zambia.
  • WorldRemit unveils new digital money transfer service for Kenya, Rwanda, Tanzania, and Uganda.
  • Forbes looks at the presence of fintech specialists – including representatives from Azimo and Standard Chartered – during UK Prime Minister Theresa May’s recent visit to South Africa, Nigeria, and Kenya.

Central and Eastern Europe

  • Entrepreneur.com features Fintech OS in a discussion on fintech innovation in Romania.
  • Fortytwo Data opens its first international office in Kiev, Ukraine.
  • Hungary to go live with instant payments in July of 2019.

Middle East and Northern Africa

  • Finastra joins Bahrain FinTech Bay to promote fintech innovation in the Middle East.
  • FinTech Hive, the biggest accelerator in the Middle East, Africa, and South Asia introduces its incoming startup cohort – 50% of which is fintech.
  • Sarwa, a wealth tech innovator based in the UAE, raises $1.3 million in pre-Series A funding.
  • United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.

Central and South Asia

  • India-based IT consultancy Wipro inks agreement with Alight Solutions.
  • Legendary investor Warren Buffett reportedly casts his gaze on India’s fintech market.
  • Tech in Asia features the 20 top-funded fintech companies in India.

Latin America and the Caribbean

  • NICE provides its Desktop Automation solution to Latin American CRM and BPO solution provider, Liq.
  • Fintech Futures publishes a look at neobanks in Latin America.
  • LATAM Tech features Christine Chang of Startupbootcamp on the fintech startup scene in Latin America.

Asia-Pacific

  • Fiserv to power Philippine Veterans Bank’s digital transformation.
  • Bangkok Bank invites fintech startups to apply to its 12-week, InnoHub accelerator program.
  • Standard Chartered appoints Deniz Güven as CEO for its virtual bank in Hong Kong.
  • Visionet Data International and SmartPesa bring mPOS payment service, Mobey, to Indonesia.

Top image designed by Freepik

Xero Learn Sets Stage for Next Generation of Number Crunchers

Accountants of tomorrow have a new hero in Xero. The cloud-based small business technology provider announced the launch of its Xero Learn solution this week, providing a new tool to improve financial literacy in the workplace and the classroom. Five institutions, including Swinburne University of Technology, University of Southern Queensland, Auckland University of Technology, Macquarie University, and AccountingPod, have already signed on to use the technology with their students.

“Xero Learn will revolutionize and future-proof the way educators teach their financial lessons,” Chief Partner Officer for Xero, Anna Curzon, said. Curzon underscored the number of schools and universities that have already embraced the technology, referring to the partnership as a “joint mission to empower the next generation of accountants, bookkeepers, and business owners with in-demand skills, knowledge, and job opportunities.”

Xero Learn helped the company earn Best Services Innovation honors at the Australian Financial Review (AFR) Innovation Awards this summer. The platform enables educators to establish business scenarios and gives students the ability to solve problems and work through tasks using Xero’s professional cloud accounting technology. Xero Learn can be integrated readily into business or accounting course curricula, and was “fine-tuned” in cooperation with more than 30 educational institutions during an early access program last year.

The company’s success with Xero Learn is only the most recent headline from the New Zealand-based fintech. In addition to opening new Americas headquarters in Denver, Colorado last month, Xero announced an integration with B2B payments platform and fellow Finovate alum, Paystand. The company acquired paperless accounting firm, Hubdoc  in August, as well, and forged a strategic alliance with fellow Finovate alum Gusto in July. Earlier this year, Xero integrated with BBVA’s API Market for small businesses, launched Connected Accounting to give businesses better visibility into their finances, and partnered with IT management solutions provider, Kaseya.

Xero is a publicly traded company, headquartered in Wellington, New Zealand, and trades on the Australian Stock Exchange under the ticker, XRO. Founded in 2006, the company has a market capitalization of $4.6 billion ($7 billion NZD) and 2018 revenues of more than $262 million ($400 million NZD).

Finovate Alumni News

On Finovate.com

  • Xero Learn Sets Stage for Next Generation of Number Crunchers.
  • SynapseFI Raises $17 Million in New Funding.

Around the web

  • iSignthis acquires core banking platform software business.
  • HooYu teams up with U.K. casino operator, Bear Group.
  • United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.
  • Ripple and TransferGo partner on real-time, blockchain-enabled remittances.
  • Striata inks partnership with UK-based customer communications specialist Communisis.
  • Experian to launch comparison service feature that gives consumers the real rate charged when applying for a credit card.
  • Tibco has started a research lab to develop new products and services in emerging areas such as blockchain, machine learning, artificial intelligence (AI) and the internet of things (IoT).
  • BeSmartee integrates with Fannie Mae’s Desktop Underwriter to Accelerate Mortgage Process.
  • Kasasa names Amy Gililland Chief Financial Officer.

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.