Author: Julie Muhn (@julieschicktanz)

FinovateEurope Demo Videos Live

FinovateEurope Demo Videos Live
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2018

Did you miss out on all of the fun at FinovateEurope earlier this month? Don’t worry, we’ve got your back. We’ve just released all of the videos from the 68 companies that demoed their fintech on stage.

All of the 7-minute demos are available to stream and download for free at Finovate.com. And if you don’t know where to begin, we’ll get you started with the seven demos that won Best of Show at the event.

Backbase

Be-IQ

CREALOGIX

iProov

Meniga

Microblink

W.UP

Ready for more? Be sure to register for FinovateSpring, happening May 8 through 11 in Santa Clara, California.

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ActivePath Acquired by Broadridge

ActivePath Acquired by Broadridge
By Julie Muhn (@julieschicktanz) Posted on
Categories: ActivePath, Mergers & Acquisitions

Email engagement company ActivePath will soon broaden the scope of how it transforms customer engagement. That’s because the New York-based company has been acquired by Broadridge Financial Solutions, a communications, technology, and data analytics firm. The terms of the deal were not disclosed.

Founded in 2007, ActivePath originally offered its flagship ActiveMail solution but created a more robust email banking offering after merging with PowerInbox in late 2012. The company allows banks, brokers, and other billers to quickly compose and send website-like, interactive experiences via emails created using HTML. Under the new agreement with Broadridge, ActivePath will offer omni-channel capabilities including SMS, social, audio UI, chatbots, and personal cloud solutions.

(above) With ActivePath, organizations can edit mass emails using drag and drop editing

In the press release, President of Broadridge Customer Communications, Doug DeSchutter commented on how the company would benefit from bringing on ActivePath. “In ActivePath, we gain a founding management team with rich entrepreneurial experience and a proven track record of innovation, and we are delighted they are joining the Broadridge family,” DeSchutter said.

Broadridge began as the brokerage services division of ADP in 1962 and became independent in 2007. The company is headquartered in New York and employs approximately 10,000 people in 16 countries.

ActivePath debuted ActiveMail at FinovateFall 2010. Before today’s acquisition, the company had raised $13.3 million. Avi Weiss is CEO.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ActivePath, Braintree, Compass Plus, Finastra, Gro Solutions, Insuritas, Klarna, Pindrop Security, Temenos, Thomson Reuters

On Finovate.com

  • Peoples Trust Company Picks Finastra for Commercial and Consumer Lending.
  • Gro Solutions to Streamline Onboarding for Congressional FCU.
  • Braintree’s New Tool Facilitates Integrated Payments.

Around the web

  • Nabil Bank chooses Compass Plus Processing Centre.
  • Thomson Reuters collaborates with Salesforce to help fight financial crime.
  • World Finance Magazine awards Temenos “Best Islamic Banking & Finance Software Solution” at 2018 Islamic Finance Awards.
  • Klarna and MyOnlineStore partner up to offer all-in-one online commerce solution.
  • Pindrop to provide Phoneprinting for online retailer Shop Direct.
  • St. Paul FCU teams up with Insuritas to launch member-owned, digital insurance agency.

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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Malauzai to Power Mobile Banking Tech for Axiom

Malauzai to Power Mobile Banking Tech for Axiom
By Julie Muhn (@julieschicktanz) Posted on
Categories: Malauzai

Community banking app provider Malauzai announced today it has been tapped by Florida’s second-largest community bank.

Under the agreement, the Austin-based company will design and deploy a mobile app for Axiom Bank’s AxiomGo, a platform that serves the underbanked community. The digital, checkless checking account provides a bilingual alternative to prepaid cards and traditional checking. AxiomGo is a low-fee way for users to pay bills, pay a friend, deposit checks, and transfer funds on a mobile-first user interface.

The bank’s goal is to give users an app to manage all banking activity from their mobile phone. As Ron Strand-Sorrell, executive vice president and chief operating officer for Axiom Bank explained, “essentially we wanted to give them the bank in the palm of their hand.” He added, “For many of our customers, this is their first experience with the U.S. banking system and we wanted to ensure the app was intuitive and brought value to their daily lives.”

Upon launching the app, Axiom expanded the capacity of its call center to accommodate an increase in call center activity. However, while users of AxiomGo have increased 300% since launching last December, the number of calls to the call center have significantly decreased because of the robust in-app help capabilities.

“It’s important that underserved markets gain access to traditional banking services, said Robb Gaynor, chief product officer for Malauzai. “The bank designed the app to eliminate many of the barriers that often make it more difficult for this market to take advantage of banking services, and in turn has enabled Axiom to better serve its current customers, while also reaching a new audience and expanding its footprint.”

Founded in 2009, Malauzai last demoed at FinovateSpring 2016, where it debuted MOX Pay powered by Visual App Builder. In May of last year, the company teamed with Vantiv to leverage the company’s Ondot CardControl tool.

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TESOBE’s Open Bank Project Powers API for Banking Startup

TESOBE’s Open Bank Project Powers API for Banking Startup
By Julie Muhn (@julieschicktanz) Posted on
Categories: Open Bank Project

The Open Bank Project, an open source API solution, announced this week it will power an API for a London-based banking startup.

This week, the bank, who requested to be unnamed, released the first version of its API to give developers access to its infrastructure. This allows developers to take advantage of the bank’s compliance, risk management, and customer service offerings. The bank currently has 24 new apps eligible for its internal app store.

Thanks to the Open Bank Project, the bank’s API is PSD2 compliant– a key to taking advantage of financial services opportunities in Europe.

Headquartered in Germany, the Open Bank Project was founded in 2005. The company’s CEO Simon Redfern, along with COO Ismail Chaib, demoed the API engine at FinovateEurope a few weeks ago in London. In late January, The Open Bank Project announced it was powering Santander’s first hackathon and in May of last year, the company partnered with Societe Generale to launch the bank’s internal hackathon.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ayondo, CustomerXPs, Endor, Malauzai, nCino, Open Bank Project, PayActiv

On Finovate.com

  • TESOBE’s Open Bank Project Powers API for Forty Seven Bank.
  • TD Bank to Deploy nCino’s Bank Operating System.
  • Malauzai to Power Mobile Banking Tech for Axiom.
  • Endor Raises $45 Million in ICO.

Around the web

  • ayondo celebrates being the first fintech to list in Singapore.
  • TD Bank leverages nCino’s Bank Operating System across corporate and commercial lending divisions.
  • CustomerXPs‘ Clari5 to power real-time AML solution for Bank of Ceylon.
  • PayActiv appoints COO.

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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FinovateMiddleEast Demo Videos Now Live

FinovateMiddleEast Demo Videos Now Live
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateMiddleEast 2018

Just a few weeks after returning from FinovateMiddleEast in Dubai, we’re ready to reveal the demo videos from the 14 presenting companies at the inaugural event in the Middle East region.

So if you are looking to re-live the action from your experience at the show, or see what you missed out on, now is a great opportunity to check out the demos to see what’s hot in fintech in the Middle East.

To get started, here’s a look at the demos from the three Best of Show winners from the event.

APPICS

Electronic IDentification

Ondot Systems

And, because FinovateMiddleEast was more than just demoes, check out this as bonus content of Jim Marous’ keynote presentation at the event:

As always, thanks to all the companies that demonstrated their technologies live on stage at FinovateMiddleEast 2018. We’ll see you next year!

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Bankjoy Signs Credit Union of Ohio

Bankjoy Signs Credit Union of Ohio
By Julie Muhn (@julieschicktanz) Posted on
Categories: Bankjoy

Digital banking services company Bankjoy may bring a bit of joy this week to the members of Credit Union of Ohio. That’s because Credit Union of Ohio is now leveraging the Michigan-based startup’s online and mobile banking technology to bring its members a new, omnichannel banking experience.

The move is strategic for Credit Union of Ohio. The credit union’s VP of Marketing & Strategic Planning Jill Gerschutz said that the implementation is an “ideal way” to retain members because it shows that Credit Union of Ohio is adapting and evolving with new trends. Gerschutz also hopes the move will boost the number of members who use the credit union’s mobile app. “We see the importance of constant movement to enhance our services – especially when it comes to technology and their online banking needs,” Gerschutz said.

After Credit Union of Ohio’s previous online banking provider announced it was discontinuing its product and would no longer provide updates, the credit union reached out to Bankjoy. “With an ever-changing technology environment,” Gerschutz said, “we knew this was crucial to finding a new product.” And since Bankjoy has already worked with all of Credit Union of Ohio’s third-party vendors, the transition will be an easier one. Other factors swaying Credit Union of Ohio toward Bankjoy include the number of customization options, as well as the startup’s innovative nature, such as offering facial recognition and TouchID login options.

At FinovateFall 2016, Bankjoy Founder and CEO Mike Duncan showcased the company’s API. It is a REST API that offers real-time transaction data and features such as card management, check deposit, money transfer, bill payment features, and loan applications. It has been a busy deal-making season for Bankjoy. The Y-Combinator alum inked a deal with SafeAmerica Credit Union last month to provide the credit union’s 35,000+ members a better online and mobile banking experience.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bankjoy, Lendio, Modo Payments, Neustar, Prosper

On the web

  • Bankjoy Signs Credit Union of Ohio.

Around the web

  • Digital Signage Pulse interviews Neustar’s Kathleen Dundas about the company’s expansion to the digital-out-of-home (DOOH) market.
  • Lendio franchise announced in Seattle Central region.
  • PYMNTS talks to Modo CEO Bruce Parker about payments in the cloud.

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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NICE Actimize Launches AI-Powered Financial Crime Investigation System

NICE Actimize Launches AI-Powered Financial Crime Investigation System
By Julie Muhn (@julieschicktanz) Posted on
Categories: NICE Systems

Data analytics and insights company NICE announced the launch of an AI-enabled investigation management system today.

The new tool, Actimize ACTone, is an alert and case management platform for financial services. The overall aim of the new offering is to provide financial services companies with one platform (hence the name ACTone) to manage alerts and cases from a wide ecosystem of financial crime solutions.

ACTone leverages AI combined with analytics and automation to aid in financial crime detection, investigations, and operations process. This approach relies on NICE’s Autonomous Financial Crime Management product, which enables financial services companies to deploy robots to collaborate with human investigators to more efficiently tackle financial crime investigations.

The new investigation manager tool suite includes:

  • Entity Insights: Offers visual relationships across entities and helps uncover risks and reveal deeper insights
  • Virtual Workforce: Eliminates manual data gathering and reduces costs and errors with robotics process automation
  • Entity Risk: Assigns a dynamic risk score to every entity using machine learning to make faster decisions
  • Activity Center: Provides instant notifications on changes made to cases or work items
  • Visual Storytelling and Modern User Experience: Offers intuitive navigation with graphical data representations to provide instant insights.

In the press release, Joe Friscia, President of NICE Actimize said, “In an autonomous world, instead of machines assisting humans to complete work, humans will assist the machines. With financial criminals getting smarter every day, it’s time for us to do the same. This is why we are so committed to our vision of Autonomous Financial Crime management which provides these benefits and more as we attack all aspects of financial crime.”

Actimize ACTone will be included in NICE Actimize’s Suspicious Activity Monitoring (SAM) anti-money laundering solution, as well as within its enterprise fraud and financial markets compliance solutions.

Founded in 1986, the company serves 25,000 customers, 85% of which are Fortune 100 companies. Among NICE’s clients are Alliance Data, Walgreens, and Capital One. At FinovateEurope 2015, the company showcased Real-Time Authentication, a passive, phone-based authentication offering that leverages voice biometrics. Earlier this year, Gartner recognized NICE in the Leaders quadrant of the Gartner Magic Quadrant for Workforce Engagement ‎Management for the second year in a row.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, CardFlight, Compass Plus, eToro, Hyperwallet, IdentityMind Global, Kasasa, LendingTree, MaxMyInterest, NCR Corporation, NetGuardians, NICE Systems, Revolut

On Finovate.com

  • LendingTree Launches Free Credit Monitoring.
  • eToro Raises $100 Million in Series E.
  • NICE Actimize Launches AI-Powered Financial Crime Investigation System.

Around the web

  • Hyperwallet tackles payments for staffing and recruiting platform tilr.
  • Compass Plus offers active-active database clustering on TranzAxis.
  • Steward Bank selects NetGuardians to help fight against fraud.
  • Kasasa named one of “2018 Best Places to Work in Financial Technology” by American Banker
  • CardFlight announces that over 80% of SwipeSimple merchants have been upgraded to EMV quick chip payment acceptance.
  • Revolut launches disposable virtual cards for online payments.
  • ACI Worldwide teams up with Shanghai-based UnionPay International.
  • IdentityMind Global announces GDPR-readiness ahead of the EU’s May 25th deadline.
  • MaxMyInterest adds former TD Ameritrade executive Tom Bradley to Advisory Board.
  • NICE Actimize unveils new AI-powered financial crime management solution, Actimize ACTone.

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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LendingTree Launches Free Credit Monitoring

LendingTree Launches Free Credit Monitoring
By Julie Muhn (@julieschicktanz) Posted on
Categories: LendingTree

Online loan marketplace LendingTree is expanding its horizons today. The North Carolina-based company introduced a free credit monitoring service for members of My LendingTree, a financial intelligence platform launched in 2014.

Through a partnership with TransUnion, LendingTree monitors credit profiles of My LendingTree’s 7 million enrolled users on a daily basis and notifies them of any changes within 30 minutes of the report activity. Users with the LendingTree mobile app will be alerted of changes via a push notification. Upon receiving a credit notification, users can confirm or dispute the activity within the My LendingTree platform.

“LendingTree empowers consumers with the information they need to feel more confident in their financial decision making,” said Charles Battle, LendingTree’s Senior Director of Product Management. “By adding free credit monitoring to My LendingTree, we’re making it even easier for consumers to manage their credit and monitor their financial health.”

This new offering falls outside of LendingTree’s core competency as a loan match-maker. However, it helps create a relationship with consumers who may not be shopping for a loan but may be looking to borrow in the future.

Since it was founded in 1998, LendingTree has facilitated more than 65 million loan requests. The company went public on the NASDAQ in 2000 and was acquired by InterActiveCorp (IAC) in 2003. At FinovateSpring 2015 the company debuted My LendingTree, a personalization platform with a dashboard to view all credit-related accounts.

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