ebankIT aims to materialize in a solution that is much more than a banking application, maximizing the interaction of financial institutions and clients by extending the concept of omnichannel and social banking. In the world of omnichannel banking, customers are in control of the channels they wish to use.For example, they can begin an interaction using one channel, such as mobile, while at home, and end it in another, such as SmartTV or Internet banking. Omnichannel banking brings the industry closer to the promise of true contextual banking in which financial services become seamlessly embedded into the lives of individual and business customers.
Author: Julie Muhn (@julieschicktanz)
Quantitative Credit Research’s RiskAware Forecasts Corporate Defaults
This post is part of our live coverage of FinovateEurope 2015.
RiskAware was developed based on the lessons learned from the financial crises. RiskAware can analyze and measure corporate credit risk quicker and better than existing practices.
RiskAware forecasts corporate defaults on a one-year term with close to 90% accuracy rate. New methodology includes the introduction of the macro environment into credit risk analysis and the simulation of 32 macro scenarios for each loan and borrower.
TradeRiver Finance’s Cross-Border Trade Platform Allows Buyers to Pay Suppliers in Local Currency
This post is part of our live coverage of FinovateEurope 2015.
The TradeRiver platform provides a business-funding and transaction-execution solution, which completely changes the nature and operation of cross-border trade finance.
TradeRiver provides the online tool and the finance for trade buyers of goods and services to pay their global suppliers in cash and in local currency at any point in their supply chain using a facility much like an online credit card.
AdviceGames Raises $570,000 from Ibuildings
AdviceGames, the Netherlands-based company that gamifies personal financial management, announced last week it raised $570,000.
The investment comes from Ibuildings, a creator of software that facilitates online communication between businesses and customers. The funding will be used to increase the speed of its machine learning technology and build a solid foundation for international growth.
Since launching in 2013, AdviceGames has invested over $1.1 million to develop and build its machine learning platform.
Tom Schenkenberg, founder of Ibuildings, will join AdviceGames as CTO.
AdviceGames will debut its newest technology this week at FinovateEurope 2015.
FinovateEurope Lands in London Tuesday
We are excited to be in London again for the fifth annual FinovateEurope 2015. The event begins at 8:00 AM Tuesday, 11 February, at Old Billingsgate Market Hall and continues through 5:00 PM Wednesday, 12 February. If you still don’t have your ticket, pick one up today, because they’re almost gone.
If you’re a registered attendee, download the mobile app to view the agenda, presenters, fellow attendees, and more:
Once you’ve downloaded it, search Finovate and select Join.
Have more questions? Check out our FAQ or email info@finovate.com.
Funding for E.U.-based Finovate Alums Totals $377 Million in 2014
With FinovateEurope less than a week away, it’s a good time to review the results of 2014. In total, European-based alumni of Finovate raised $377 million. And 2015 is looking even better with two major fundings in January:
- $58 million to London-based Transferwise
- $200 million credit line to Hamburg-base Kreditech
Here are the 2014 fundings by quarter:
- Azimo
$10 million
- Birdback
$2.4 million
- Kantox
$9 million - Klarna
$135 million
- Red Zebra
“seven figure amount”** - Zopa
$22.5 million
Total: $21 Million
- Ayondo
$4 million - Tink
$4 million
- SumUp
$13 million
- BehavioSec
$6 million
- eToro
$27 million
- Nous
$0.6 million
- Qapital
$1.3 million
- Trustly
$30 million
- Vaamo
$3.2 million
- Xpenditure
$1.25 million
Note: This total does not reflect funding raised by the 44 new-to-Finovate companies that will demo next week at FinovateEurope 2015.
** We used $1 million for Red Zebra’s “seven figure amount”
Payments Platform Mozido Adds $2.5 Million to SimplyTapp’s Series B Round
Host Card Emulation company, SimplyTapp, announced a $2.5 million addition to this week’s most recent round, bringing its Series B total to $8.5 million and total cumulative funding to $10.1 million.
The Austin-based company announced the first round, which was furnished by Blue Sky Capital and Lightspeed Venture Partners, last November.
The funding comes from mobile payments and rewards company, Mozido, which is also based in Texas.
SimplyTapp demonstrated at FinDEVr San Francisco 2014.
Alumni News—February 5, 2015
- Quisk electronic payment system to launch in Jamaica. Come see Quisk at FinovateEurope next week.
- AM560 interviews Lendio CEO Brock Blake on alternative lending.
- On Finovate.com: “Funding for E.U.-based Finovate Alums Totals $377 Million in 2014″
- European Commission’s Promoting Enterprise blog spotlights Nuno Da Cruz Sebastiao of Feedzai.
- Argent Credit Union hires Insuritas to open and manage turnkey insurance agency.
- Coinbase to support Google Now notifications.
- CoinJar launches iOS bitcoin payments app, CoinJar Touch, ahead of its FinovateEurope 2015 debut next week.
- SixThirty Accelerator deadline extended to February 6.
- FinovateEurope 2015: Come for the Demos, Stay for the Networking.
FinovateEurope 2015 Sneak Peek: Part 7
FinovateEurope is less than a week away, and we’ve already surpassed last year’s record-breaking attendance. Soon, we’ll be sitting inOld Billingsgate Market Hall in London, enjoying tea while enjoying the first day of live demos at FinovateEurope.
Want to be a part of the largest FinovateEurope crowd ever? Get your ticket soon before it’s sold out.
In this final post of our Sneak Peek series, we’re featuring Aire, Akamai Technologies, LifePay, MoneyHub, mydesq, Onlinepay.com, Sedicii, and Taulia. You can see all the posts here:
- Sneak Peek Part 1: ebankIT, Jumio, SOFORT, TradeRiver Finance, Xignite, and Yoyo
- Sneak Peek Part 2: AlphaPoint, Avoka, Encap Security, investUP, Nostrum Group, and StreetShares
- Sneak Peek Part 3: CoinJar, EVRY, FOBISS, Strands, Trunomi, VATBox
- Sneak Peek Part 4: Bendigo and Adelaide Bank, CPB SOFTWARE, Ixaris, JSC Delta Bank, QCR, and Topicus.Finance
- Sneak Peek Part 5: Financial Media Solutions, Fiserv, Intelligent Environments, mBank & i3D, Pirean, and Telenor banka & Asseco SEE
- Sneak Peek Part 6: Bitbond, Revolut, Smart e-Money, TiViTz, TransferTo, and Wipro
Aire is an alternate credit score for people. Our mission is to help thin-file customers who qualify for essential financial products via this new score.
Features
- Rescore credit rejections to lend to 15%+ more customers
- Improve overall cost of acquisition
- Minimal change to existing risk profile
Why it’s great
Aire can help turn a No to a Yes.
Presenters
Aneesh Varma, Co-founder
Varma is a serial entrepreneur with a prior startup in enterprise retail tech, he started off in consumer finance at JPMorgan. He’s an engineer with a background in predictive algorithms quantitative finance.
LinkedIn
Jon Bundy, Co-founder
With 14 years across financial technology, Bundy has been building risk and data products with an additional expertise in fraud detection and AML as well. He was previously at RBS, Searchspace and Symbian.
LinkedIn
Akamai Technologies is a leading provider of cloud security services, helping banks provide secure, high-performing user experiences on any device, anywhere.
Features
- Focus on the source of the request
- Determine the extent to which that source has sent malicious requests in the past
- Make predictions regarding how much that source can be trusted in the future
Why it’s great
The Akamai Client Reputation service provides financial institutions the ability to forecast intent and protect applications against web attacks.
Presenters
Ory Segal, Director of Threat Research
LinkedIn
Nick Coleman (pictured), Web Security Specialist
LifePay is an mPOS EMV chip-and-pin solution, allowing SMEs to accept payments by plastic cards via smartphones, and get LifePay Stand and overall sales analytics.
Features
- LifePay-mPOS chip & pin is a start-point of LifePay ecosystem
- LifePay offers the LifePay Stand solution with a portable printer and cashbox as a next-gen cash register.
- Merchant’s portal
Why it’s great
LifePay – inspiring Asia
MoneyHub puts the user at the center of their financial universe and helps them visualize their future. MoneyHub’s Ecosystem will empower people to connect, share data and collaborate with their financial advisers and institutions like never before.
Why it’s great
Your customers are already using MoneyHub, why not see how you can use it with them?
Presenters
Toby Hughes, CEO MoneyHub
Hughes, Founder and CEO of MoneyHub, is an entrepreneur with more than 10 years of digital marketing and technological innovation experience in financial services.
LinkedIn
Dave Tonge, CTO
Tonge, CTO at MoneyHub, has a strong technical skill-set and entrepreneurial instincts. Dave specializes in innovative business strategy and agile software architecture.
LinkedIn
mydesq is an iPad-based workbench which combines products, clients, accounts and analytics providing wealth managers the information advantage to work smarter.
Features
- Work from anywhere, anytime
- Simplify work
- Increase Sales & Service
Why it’s great
It revolutionizes and simplifies the way wealth managers work.
Presenter
Milan Vora, CEO & Founder
LinkedIn
onlinepay.com is a mobile wallet for students. Share, buy and top up!
Features
- Share your money with your friends
- Make purchases directly from your mobile phone
- Top up your gaming accounts
Why it’s great
onlinepay.com is a mobile wallet, designed for fun and sharing money, convenient mobile shopping and top up of gaming and trading accounts.
Presenters
Vladimir Kovalevskiy, Director
Kovalevskiy has in-depth experience in the payment and e-commerce fields in Russia and abroad, including projects related to mobile payments.
LinkedIn
Anfisa Chernaya, Marketing Manager
Chernaya is working in marketing field for last 5 years.
LinkedIn
Sedicii eliminates the exposure (storage and transmission) of private data required to authenticate.
Features
- Sedicii Payments Card Authentication
- Sedicii Mobile Authentication
- Sedicii Contact Centre Authentication
Why it’s great
It is innovative technology for more secure authentication and identity verification.
Presenters
Rob Leslie, CEO
Leslie’s track record includes part of the original management team to establish/grow Dell Japan to $300M TO in 4 years. Leslie also co-founded PTS Japan, sold in 2000, having achieved $33M valuation in 5 years.
LinkedIn
Richard Coady, Commercial Director
Coady has held senior positions with BT, WBT Systems, Prometric. He will work towards the implementation of the International Sales strategy for the Sedicii portfolio of authentication applications.
LinkedIn
Taulia transforms supply chains, enabling organizations to create a healthy relationship between suppliers and buyers.
Features
- Sets up a SaaS network between a buyer and all its suppliers with eInvoicing
- Uses network to offer all suppliers an opportunity to get paid early using third-party finance
- Preserves buyer capital
Why it’s great
Taulia solves the buyer/supplier payment dilemma.
Presenters
Matthew Stammers, European Marketing Director
Member of the European management team with responsibility for launching Taulia in Europe. Previously worked for Bottomline Technologies and Capita and holds a Henley MBA.
LinkedIn
Christophe Juvanon, European Solutions Consulting Director
Key member of Taulia’s European team responsible for understanding customer’s requirements and solution fit. Previously employed by OpenText and DHL. Holds a post-grad degree from Napier University.
LinkedIn
That concludes our Sneak Peek series. You can catch all 70+ companies as they demo live at FinovateEurope on February 10 and 11. Pick up your ticket here.
Micronotes Receives $910k in Funding
Cross-selling is an effective tool in financial services, helping banks market everything from mortgages to new savings accounts. Micronotes‘ Cross-Sell helps banks take the sales conversation from the branch to the online channel.
Alumni News– February 3, 2015
- ProfitStars adds Banno Mobile solutions to the Independent Community Bankers of America (ICBA) Preferred Service Provider program.
- Lending Club to serve as exclusive POS financing for Alibaba.com’s U.S. business buyers.
- Visa CEO selects NBCUniversal’s Vasant M. Prabhu as CFO.
- On Finovate.com: “Fidelity Investments Acquires eMoney Advisor for Reported $250 Million”
- The Philippine National Bank deploys core banking solution and EFT switching solution from FIS.
- ABC2 News in Baltimore talks with Robb Gaynor of Malauzai Software about mobile banking apps.
- Thinking Bigger profiles Blooom and its new way to 401(k).
- The Costa Rica Star features Azimo, a money-transfer service.
- Financial Advisor’s look at assets managed by roboadvisors highlights Wealthfront, Financial Guard, Personal Capital, and Betterment.
- Jumio enhances capturing technology for its ID card-scanning service, Netverify.
- Discussion of the “positive powers” of fintech in The Guardian features ACI Worldwide, Azimo, TransferWise, Ripple, and Blockchain.
- Check out our final Sneak Peek before we launch into a record-breaking FinovateEurope.
- Micronotes receives $910k in funding.
- CSO Online features Nymi, Myris, and EyeVerify.
- Kabbage funding More Than $3 Million per Day.
- Remitly announces expansion into India.
Bolstr Raises $1.7 Million in Seed Funding
Since its launch in 2011 Bolstr has been on a mission to offer a simple way for small businesses to get financing quickly. It began lending in 2013 and since then, the 1,000+ investors on its platform have delivered $1 million to more than 12 companies.
The Chicago-based startup pulled in its first round of funding yesterday. The $1.7 million comes from Montage Ventures, Kapor Capital, DRW Trading Group, Merrick Ventures, and Wilson, Sonsini, Goodrich & Rosati.
Bolstr will use the funding to add to its six-person team and scale the platform. It aims to host 15 to 20 deals per month by the end of this year (it did not disclose its current volume).
On the Bolstr platform, accredited investors contribute to small business’ funding campaigns, which range from $25,000 to $500,000. The businesses have 30 days to reach their target amount, but since launch, every campaign has reached its goal within five days.
Businesses retain full ownership and pay investors back over 12 to 36 months, depending on the agreed-upon revenue share. So far, there have been zero defaults.
Bolstr debuted its platform at FinovateFall 2012 in New York.