Nordic Capital Fund Acquires Majority Share of Trustly

Nordic Capital Fund Acquires Majority Share of Trustly

Payment solutions innovator Trustly announced today that Nordic Capital has taken a majority stake in the company. Trustly anticipates this move will assist in its journey to become the leading global online banking payments provider.

Nordic Capital will acquire Sweden-based Trustly from Bridgepoint Development Capital and other shareholders. Additional investors, including Trustly management, founders and investment company Alfvén & Didrikson, will remain significant shareholders in the company. The terms of the deal, which is subject to regulatory approvals, were not disclosed.

In a press release, Trustly CEO Oscar Berglund noted that online banking-based payment solutions are only in “infancy” and that the company seeks to “make it easier, safer and quicker for both consumers and merchants to make payments online.” He added that Nordic Capital’s support will be of great value as Trustly grows. As one of Europe’s largest private equity investors, Nordic Capital has indeed proven to be quite valuable to other fintechs in the space. In fact, the firm helped transform payment platform Bambora into a global payment market leader and also boasts a successful investment in Point, a payment terminal software company.

Fredrik Näslund, Partner and Advisor to Nordic Capital said, “Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities. We intend to support the management team and founders in the journey to becoming the global account-to-account infrastructure player by providing capital and experience from our previous successful investments in payments.”

Adding to the accolades, Johan Dahlfors, Partner at Bridgepoint Development Capital said, “Trustly is very well placed to continue its strong growth trajectory in a structurally growing market with long-term tailwinds for real-time, account-to-account payments.”

At FinovateEurope 2017, Trustly debuted Direct Debit, a payment offering that removes the pain of entering payment card information by allowing users to transact using their current account by entering their bank login credentials.

In a separate release this week, Trustly announced it teamed with Z.com to serve as a payment option. Last fall, the company teamed with Qliro and in May of 2017, Trustly partnered with online fashion retailer Boozt.com, just after announcing its expansion into the U.K.

Welcome to Day Four of FinovateEurope

Welcome to Day Four of FinovateEurope

The days have flown by and it’s hard to believe we’ve arrived at the final day of FinovateEurope! We have a lot of content in store today and can’t wait to get started.

We’re at ExCel London and tickets are still available at the registration desk. If you missed the first part of the show, catch up by searching #Finovate on Twitter.

Here’s an overview of today’s agenda. For a detailed look, check out the event website.

From 10:10 to 12:00 our four-track summit panel discussions and fireside chats will cover four topics:

  • Payments
  • Digital Lending
  • New Tech
  • Special Interest

And that’s a wrap! Thanks to all of the presenters for braving the stage with their live demos, to all of the speakers and panel hosts, and of course to our audience– we couldn’t do this without you.

Demo videos will be available on Finovate.com in a couple of weeks and you can find panel discussions as well as bonus content and interviews on our YouTube channel. Until we see you again next year, tune into the Finovate blog for the latest in fintech news.

Celebrating International Women’s Day at FinovateEurope

Celebrating International Women’s Day at FinovateEurope

The midway point of FinovateEurope falls on a notable holiday– International Women’s Day. This combination makes it the perfect time to celebrate all of the women who have graced the Finovate stage over the past two days.

Out of our 68 demoing companies, 21 were represented by women presenters– that’s 31%. This figure is 35% higher than at FinovateEurope last year, when 23% of the presenting companies were represented by a woman on stage. And it’s 55% higher than at FinovateEurope 2016, when 20% of the companies featured a woman on stage; more than 2x higher than FinovateEurope 2015, where 15% of the companies had female speakers; and a huge leap from our first event in 2007 with zero (see note 1).

These numbers spell out definitive progress. And with this in mind let’s celebrate women in fintech today– and every day, recognize how far we’ve come, and make an effort to foster a more inclusive environment within our industry.

The companies appear in demo order:

ApPello

Bernadett Nagy and Agnes Magyar

 

Opentech

Lisa Ann Caringi

 

ebankIT

Diana Winstanley

 

Google & KBC Bank

Petrina Grady and Deniz Oran

 

Avaloq

Esther Kaufmann

 

Salt Edge

Lisa Terziman-Gutu

 

CASHOFF

Yulia Clarke and Lina Perez

 

Horizn

Janice Diner

 

Fintech OS

Paula Costea

 

Electronic IDentification

Patricia Diez Diez

 

3rd-eyes

Stephanie Feight

 

Exate Technology

Sonal Rattan

 

IBM Trusteer

Eileen Turner and Sarit Kozokin

 

ING

Iwona Ziolkowska and Ewa Szerszen

 

CREALOGIX

Jo Howes and Eszter Vass

 

Solna

Inna Kaushan and Fatima Ayoub

 

Sensibill and NatWest

Wincie Wong

 

Smart Valley

Dr. Anna Elmirayeva

 

Partner HUB

Katalin Kauzli

 

SMART VALOR

Olga Feldmeier

 

ITSector

Luisa Silva


Editor’s Note: While sadly it’s true that no women were on stage during the 20 demos of the first Finovate. One company, iPay Technologies, was founded by Dana Bowers, but she chose not to speak that day. And Finovate might not even exist if it wasn’t for Melanie Flanagan, then Marketing Manager at Yodlee (also co-founded by a woman), who was the first person to agree to demo. Finally, Susan Hawkins, then SVP at Metavante,was instrumental in getting both her company and Monitise on stage. So there you have it, woman called the shots for at least 20% of Finovate v1.0’s content, even if they ended up delegating the on-stage pitching to men. Thanks Melanie, Dana and Susan! — Jim Bruene, Founder

Welcome to Day Three of FinovateEuorpe

Welcome to Day Three of FinovateEuorpe

The demo sessions of the first two days of FinovateEurope are complete and Best of Show winners have been named. Now we turn to industry thought leaders to not only help us digest what we’ve just seen but also turn to the future and anticipate what’s coming next.

We’re back at ExCel London for today’s sessions and tickets are still available at the front desk. You can check out the full agenda on the event website, but here’s a quick overview of what to expect today: 

From 14:05 to 17:45 our four-track summit panel discussions will cover four topics:

  • Banking
  • Investing
  • Regtech
  • New Tech

Registration will open tomorrow at 8 AM and the first session starts at 8:30 AM. Coat check is available outside the networking hall in the ExCel Center.

Welcome to Day Two of FinovateEurope

Welcome to Day Two of FinovateEurope

The week started off strong with an exciting first day of FinovateEurope. Continuing our momentum today, we have another 29 companies ready to demo their fintech on stage.

If you missed out on the first day, no problem! Come down to ExCel London and register today, and check out the action on Twitter by searching #Finovate.

Today’s format will look quite similar to yesterday’s. The full agenda can be found on the FinovateEurope website. Here’s what you can expect:

8 to 9 Registration and continental breakfast

9 to 10:10 Demo session

10:20 to 10:50 Intermission and refreshments

10:50 to 12:10 Demo session

12:10 to 13:10 Lunch and networking

13:10 to 14:30 Demo session

14:30 to 17:00 Cocktail reception and networking

Tomorrow, registration opens at 8 AM and the first session begins at 8:45. Please remember your name badge.

Excuse Me Europe, Your Finovate is Showing

Excuse Me Europe, Your Finovate is Showing

FinovateEurope begins tomorrow and we’re placing the finishing touches on this week’s event. Companies are practicing their demo pitches for March 6 and 7, breakout rooms are ready for panel discussions that will take place on March 8 and 9, and the networking hall is prepared.

Are you ready? Here’s all of the last minute information you need to know:

Arrival

The event will be held at ExCel London. Registration opens at 8 AM tomorrow and the first demo begins at 9 AM. If you still don’t have your ticket, be sure to arrive early tomorrow to register.

Agenda

You can find the four-day agenda online. We’ll also post basic agenda details here on the blog every morning.

Questions?

For specific questions, visit the FinovateEurope website or contact our events team.

Ready, Set, Go…. Finovate Lands in London

Ready, Set, Go…. Finovate Lands in London

If your idea of fun is hanging out with fellow fintech and banking enthusiasts and discussing what the future of the industry holds, then you’re in good company this week as FinovateEurope is taking place this week. Here are the details

Ready…

First, don’t forget to register ahead of time. Tickets are still available online. The event takes place March 6 through 9 and will be held at ExCel London (Finovate veterans, take note– it is a new venue!). Also, to help you prepare, we’ve compiled a Sneak Peek series to get an advanced look into what some of the companies will debut on stage.

Set…

Check out the list of demoing companies, view the agenda, and finalize your accommodations. And if you have additional questions or need help with a special ticket request, please contact our events team.

Go!

Registration and a continental breakfast take place at 8 AM on 6 March, and the first demo will begin at 9 AM. Come early to settle in with a coffee or tea and save your seat.

We’ll be live Tweeting throughout the event from @Finovate, using the hashtag #Finovate. Be sure to check the Twitter feed for presenter information, analyst insights, and even bonus video content throughout the four-day event.

Kofax’s Kapow to Fuel Spotcap’s Credit Assessment Algorithm

Kofax’s Kapow to Fuel Spotcap’s Credit Assessment Algorithm

Kofax announced this week that small business financing provider Spotcap has implemented Kofax’s Kapow Robotic Process Automation software.

The Kapow software automatically aggregates, extracts, and transforms business and cash flow data into actionable information. Leveraging this information, Spotcap’s machine-learning credit models offer underwriters insight into a company’s creditworthiness. Ultimately, this helps Spotcap meet its goal of providing flexible financing options to SMEs.

The application takes businesses only 15 minutes to complete and are reviewed within 24 hours. If the application is accepted, businesses gain access to funds immediately.

“For every loan application received, thousands of data points must be analyzed to make a decision about whether to offer a loan,” said Karl Sponholz, COO of Spotcap. “Unlike traditional lending processes, where credit decisions are based primarily on historical financials and credit scoring, we are tapping into Kapow smart automation software to quickly and easily access data from a large number of sources for in-depth insight.”

Kofax CEO Reynolds C. Bish said that when fintechs digitally transform their operations they are poised to better serve their customers and will “thrive by developing deeper and better engagement with customers across their entire lifecycle.”

It seems that machine learning, automation, and AI are much more than just buzzwords for Kofax. In January, the company announced its largest single transaction for a robotic process automation solution. The order, which came from a top 10 global bank, totaled more than $8 million. And early last month, Kofax’s Kapow was named to Constellation ShortList for its robotic process automation technology.

Founded in 1985, Kofax offers products ranging from information capture, robotic process automation, financial process automation, and customer onboarding solutions. The company’s network of more than 1,000 partners in 70+ countries across the Americas, EMEA, and Asia Pacific, leverage Kofax to serve 20,000 end customers.

Last May, Kofax was acquired by Thoma Bravo, marking Kofax’s second acquisition after Lexmark acquired it for $1 billion in 2015.

Take Note: FinovateEurope Keynotes Announced!

Take Note: FinovateEurope Keynotes Announced!

FinovateEurope is coming to London next week, and while our Sneak Peek series may have prepared you for the first two days of non-stop fintech demos, you still need to get ready for the extra content and discussions taking place the second half of the week.

Here are the folks who will– in just a few days from now– step up to the Finovate stage to share their insights on some of the most topical issues in fintech:

Rohit Talwar

The Rise Of The Machines – The AI Revolution And The Road To Superintelligence. What Will AI Mean For The Future Of Financial Services – And The Future Of Work?

Talwar is an award winning global futurist, entrepreneur and specialist advisor on business transformation, disruptive strategies and radical innovation. Nominated as one of the top ten global future thinkers by the U.K.’s Independent newspaper, he comments regularly on the future and innovation for global news networks. Talwar has been published widely. He is the initiator, editor and a lead author for The Future of Business, which was published on June 23rd 2015 – completed in just 19 weeks. This 60-chapter book brings together the work of 62 future thinkers from around the world to explore the forces shaping our world and highlight the implications for business.

Jamie Woodruff

Cyber Security – Why We Should All Be Very, Very Afraid…

In his early 20s, Woodruff is one of the world’s leading authorities on hacking and cyber security.

Woodruff entered the public eye when he successfully hacked Facebook as part of a student competition at Bangor University where he was studying computer information systems. He has since uncovered security holes in numerous high-profile operations, including Kim Kardashian’s website, which he hacked to reveal that it was putting her fans’ data at serious risk.

Woodruff is a director of Metrics Cloud specialising in training, penetration testing, and recruitment. He is also the cyber safety advisor for the Cyber Smile Foundation which specialises in online cyber bullying.

Woodruff talks about the importance of system and network security and is known for disclosing world-wide exploits and vulnerabilities within leading security applications such as Facebook, YouTube, Twitter, Apple, and Google. He finds existing exploits by infiltrating the companies in question. He demonstrated this by impersonating a Domino’s pizza delivery boy at a large financial institution and gaining access to their server room via pick-locking. All carried out under fully authorised, ethical penetration testing.

Simon Taylor

Why Blockchain Is The Next Generation Of The Internet

Taylor is Co-Founder and Blockchain Practice Lead at 11:FS. He led Blockchain Research and Development at Barclays, where Barclays became the first bank in the world to perform a live trade finance transaction over a Blockchain / DLT with a real customer attached. Today at 11:FS, Taylor advises governments, regulators and some of the worlds largest banks, financial institutions, and corporations on how blockchain and DLT will impact their business in the short, medium, and long term. In addition Taylor also co-hosts the industry-leading podcasts Fintech Insider and Blockchain Insider.


We’ll see you on 6 through 9 of March at the ExCel Center in London. If you haven’t saved your spot, register today. And don’t hesitate to contact us with any enquiries or customer service needs.

Pendo Systems Ships New Release of Pendo Machine Learning Platform

Pendo Systems Ships New Release of Pendo Machine Learning Platform

Data insight company Pendo Systems launched the latest release of the Pendo Machine Learning Platform (PMLP) this week.

The new iteration, version 4, of PMLP balances improving productivity while keeping user requirements convenient. New features in this latest release are:

  • Improved machine learning toolset that accelerates time to implementation and solves complex processing challenges
  • Ability to create and train models against training data
  • New connectivity options with Content Management Interoperability Services support
  • New plugins that integrate with other systems to provide access to a range of machine learning algorithms

In the press release, Phillip Dodds, Pendo Systems CTO said that this release is a “significant step forward” for Pendo because it is designed with the business user in mind. “By enabling onsite training of models that are less IT-dependent means our clients can now use their own data to train Machine Learning algorithms in an agile and cost-effective way, irrespective of whether it is behind their own firewall or in a secure cloud environment,” Dodds added.

Pam Pecs Cytron, CEO at Pendo Systems, who described the release as a demonstration of the company’s “ruthless commitment” to product innovation, said that empowering the business user is an essential component of Pendo’s strategy.

Founded in 2007, and with headquarters in New Jersey, Pendo converts unstructured data into AI-ready datasets and improves on natural language processing libraries by applying real-world, customer training data. With this approach, the company helps improve accuracy to over 95%. At FinovateAsia 2012, the company debuted BasisPoint to offer multi-jurisdictional processing for capital markets firms. Earlier this month, the company announced its intention to target the insurance sector.

Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership

Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership

Cloud-based payments platform Dream Payments is teaming up with Mastercard this week. The two payments players will leverage Mastercard Send to help insurance policyholders receive payments faster into any account.

Mastercard Send, a global push payments platform, facilitates local and cross-border money delivery in near real-time. Integrating with the Dream Payments Hub will create a scalable way to digitize and automate the disbursement of insurance claims. By removing the need to sort and mail physical checks, the integration ultimately increases the speed and efficiency of digital payouts into the customer’s preferred debit card account.

Piloting this is Northbridge Financial, which will be the first insurance provider in Canada to use the Mastercard Send platform through the Dream Payments Hub. “Our claims experience is the moment of truth when it comes to the promise we make to our customers,” said George Halkiotis, EVP of Claims for Northbridge Financial. “We know that waiting for and depositing checks are key pain points and we’re excited be able to deliver a better, faster claims experience that helps make things right for our customers as quickly as possible.”

“Mastercard and Dream Payments are helping to digitize payments for insurance providers of all sizes,” added Brent Ho-Young, chief executive officer, Dream Payments. “Insurance customers deserve to receive their claims payments quickly, electronically, and into the financial accounts of their choice, whether it be a bank account, debit card, prepaid card, or mobile wallet.”

With operations in Stamford, Connecticut, Dream Payments helps small businesses accept all payment types. In addition to ties with Quickbooks and First Data, the company also counts TD Merchant Solutions and Chase Paymentech in its partnership ecosystem. At FinovateSpring 2015, Dream Payments debuted its mobile POS device. Dream Payments was founded in 2014 and has raised $14.9 million. Brent Ho-Young is CEO.

Founded in 1966, Mastercard demoed its Cash Pick-Up ATM solution at FinovateFall 2017. Cash Pick-Up allows the sender to disburse cash to banked and unbanked consumers without a card at an ATM. Last fall, the company announced it has tested and validated its blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. At FinovateEurope next week, Mastercard, alongside Vipera, will demo SME-Pay, a solution that enables small business owners to make and receive payments anywhere and view and control staff spending on their Mastercard cards.

Finovate Alumni News

On Finovate.com

  • Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership.

Around the web

  • NCR Launches Omni-Commerce Payment Solution for European Retailers and Restaurants.
  • InComm Partners with Kapsch TrafficCom on RiverLink.
  • Sberbank hires robot Anna to answer calls about location of ATMs and Sberbank offices.
  • Baker Hill releases the latest developments for Baker Hill NextGen.

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.