Finovate Alumni News


  • NTT Data Acquires Digital Services Provider NETE.

Around the web

  • Temenos introduces robo-advisor and goal-based investing apps to its Temenos Infinity for Retail Banking.
  • eToro launches the shopping cart portfolio, an investment portfolio with global e-commerce stocks.
  • Taiwan’s Chailease selects NICE Actimize for AML compliance program.
  • Aite Group names Baker Hill NextGen Best-in-Class Commercial Loan Origination System.

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.

TransferWise Inks International Payments Deal with EQ Bank

EQ Bank, the digital subsidiary of Canada’s Equitable Bank, has signed a partnership agreement with TransferWise which will see the latter underpin EQ Bank’s international payments, reports Alex Hamilton of Fintech Futures, Finovate’s sister publication.

EQ Bank has integrated TransferWise’s API directly into their infrastructure. EQ Bank customers will be able to send money from their Savings Plus account at “the real exchange rate,” paying a “small, transparent TransferWise charge.”

Kristo Käärmann, CEO and co-founder of TransferWise, said that Canadian consumers stand to lose a “staggering” $330 per person to hidden fees when exchanging currencies.

“This needs to stop,” he said. “We ultimately want to ensure that everyone has access to fast, cheap, and transparent international money exchange. We’re thrilled to have found a like-minded partner in EQ Bank.”

EQ Bank recently completed the move of its Temenos core banking system into the cloud. The digital bank utilizes Microsoft’s Azure cloud platform, using software hosted by HP.

“From hidden mark-ups in the exchange rate, to paying multiple fees and lengthy delays, for too long Canadians haven’t been getting the best value for their dollar when sending money abroad,” said Andrew Moor, president and CEO of Equitable Bank.

“At EQ Bank we continually seek ways to remove unnecessary complexities and fees from outdated banking structures to put more money back in the hands of our customers. As TransferWise shares these important values, they are the perfect partner to help us achieve our goal.”

Transferwise, which most recently demoed at FinovateEurope 2013, was founded in 2010 and is headquartered in London. The company has raised more than $770 million.

Coinbase’s New Partnership Helps Give Back with Crypto

To celebrate the season of giving, digital currency wallet and crypto management platform Coinbase announced a partnership that will create a way for its users to donate their crypto.

Coinbase has chosen to integrate with micro donations platform DustAid to provide its users in the U.K. with an option to donate to their choice of three charities:

  • NSPCC, a children’s charity that seeks to keep young people safe from abuse
  • The Little Edi Foundation, which provides support and grants to struggling rural communities in Romania
  • Space for Giants, which helps protect and secure the future of elephants and their landscapes

Donations are facilitated through Coinbase Commerce, Coinbase’s service that allows merchants to accept multiple cryptocurrencies and maintain full control of their own digital currency. Coinbase Commerce launched in early 2018 and integrates directly into a merchant’s checkout screen. Since then, the company has amassed more than 2,000 merchants on the service.

“We firmly believe that by using blockchain technology we can help charities positively impact people all over the world. DustAid’s mission is to make giving a simple, easy and transparent part of our daily lives,” said Duncan Murray, Managing Director of DustAid. “We are really proud to be working with leading organizations like Coinbase and NSPCC to make this a reality and to help children be heard this Christmas.”

After its most recent funding round of $300 million, Coinbase’s total funding reached just under $550 million. Recently, the company launched its Coinbase Pro trading platform on mobile and added five new currencies to the Coinbase Card. Coinbase demoed InstantExchange at FinovateSpring 2014.

Finovate Alumni News


  • ti&m and aixigo Partner to Digitize Wealth Management.
  • TransferWise Inks International Payments Deal with EQ Bank.
  • Coinbase’s New Partnership Helps Give Back with Crypto.

Around the web

  • ThetaRay Names Edward Sander as Chief Product Officer.
  • Frontier Communications deploys Neustar Certified Caller STIR/SHAKEN technology across its IP network to digitally certify phone calls.
  • Citi and PayPal expand partnership for institutional clients.
  • Worldline and CashSentinel partner to provide a payment solution to comply with Swiss and European online marketplaces.
  • Alaska USA Federal Credit Union selects MX to power mobile banking platform.
  • Minna Technologies deepens partnership with OP Financial Group.
  • Chetu continues European expansion, opens new UK office.

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.

ti&m and aixigo Partner to Digitize Wealth Management

Digitization and innovation company ti&m and wealth management technology provider aixigo have come together in a partnership this week that will help improve and digitize the wealth management experience.

The partnership will combine ti&m’s channel suite with aixigo’s Wealth Management & Investment Advisory platform’s digital suite. The press release highlighted how the flexibility of ti&m’s services are well-suited to enhance aixigo’s platform, noting that “any solution can be designed and integrated “out of the box” into core banking systems.”

“You meet customer expectations in digital competition and at the same time reduce costs per customer. This in turn means that customers are more willing to pay despite regulatory requirements and cost transparency,” said Christian Friedrich, CBO of aixigo. “And in the end, the goal is for the bank to become an integral part of daily digital habits. And it is precisely these added values that we want to bring out into the banking world together with ti&m.”

aixigo most recently demoed at FinovateFall 2018 in New York where it showcased Digital Portfolio Management Backoffice, a tool to manage portfolios flexibly and with a limited workforce. The Germany-based company raised an undisclosed amount of funds in a single private equity round earlier this year.

ti&m demoed its digital onboarding suite module at FinovateEurope 2017. Thomas Wüst is founder and CEO.

Finovate Alumni News


  • Finovate Alums Raise More Than Three Billion in 2019; $676 Million in Q4.
  • Sensibill Pilots SME Receipt Management Technology with Metro Bank.

Around the web

  • Mastercard partners with CleverCards and Appreciate Group for launch of digital gift card in the U.K.
  • TransferWise for Banks launches in Canada with EQ Bank as first partner.
  • CREALOGIX appoints Oliver Weber as new CEO as of January 2020.
  • Card issuing platform Marqeta and cloud banking services provider Mambu announce new collaboration.
  • Klarna to open tech hub in Berlin, Germany.
  • Splitit forges new strategic partnerships with Malaysian payment solution provider iPay88 and global payments company BlueSnap.

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.

Passport Raises $65 Million for Mobile Payment for Parking

Mobile payments for parking company Passport just landed $65 million in funding, bringing its total raised to over $125 million.

The Series D round saw participation from Rho Capital Partners, H.I.G. Growth Partners, and ThornTree Capital Partners. Habib Kairouz from Rho Capital Partners and Scott Hilleboe from H.I.G. will join Passport’s board of directors.

The funding will be used enhance Passport’s software platform and expand its digital parking ecosystem.

Founded in 2010, Passport offers mobile payment solutions for parking, transit, permits, and tolling. The company’s solutions serve more than 1,000 clients and have been adopted by more than 450 agencies in over 5,000 locations worldwide, including Chicago, London, Toronto, Boston, Vancouver, Portland, Montreal, and Miami. To date, Passport has processed more than $1.5 billion, processing 100+ million transactions each year.

“We envision a world where mobility is seamless,” said Bob Youakim, Passport co-founder and CEO. “To bring this vision to life, we are creating an open ecosystem where any entity – a connected or autonomous vehicle, a mapping app, or a parking app – can leverage our transactional infrastructure to facilitate digital parking payments.”

At FinovateEurope 2016, Passport demoed its Mobile Ticketing for Transit solution. 

This year, Passport launched a pilot for micro-mobility companies, including scooter fleet company Spin. In August, the company moved on to phase two of the project to enable cities to charge scooter companies for parking. The city of Charlotte will move forward with its pilot and the company anticipates that other cities will follow.

Finovate Alumni News


  • Passport Raises $65 Million for Mobile Payment for Parking.

Around the web

  • CustomerXPs honored on the RegTech 100 list for second consecutive year.
  • Ixaris forms agreement with Sabre to tap into new European markets.
  • Ocrolus introduces Ocrolus+, a turnkey solution for ingesting documents and digital data streams through a single API.
  • Bitbond partners with KlickOwn to expand into real estate.

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. Begins Trading on NYSE at $22 per Share marked a win this week as it finalized its debut on the New York Stock Exchange under the ticker BILL. The business payments platform priced its shares at $22, which is higher than the previously anticipated $16 to $18 per share amount.

The raise equates to about a $216 million raise, which is more than double the $100 million figure we reported last month, when pricing terms had not yet been shared publicly.’s market capitalization now sits at $1.56 billion.

There has been plenty of positivity about’s public debut, including the Wall Street Journal’s article about the IPO being “worth the tab” and Forbes’ discussion about’s stock “taking off on IPO day.”

Before today’s public debut, the California-based company had raised $347 million in 11 rounds of funding from investors including Franklin Templeton, JPMorgan Chase, Union Square Ventures, CapitalG (Google Capital), Microsoft, Baidu, Qualcomm, Fidelity, Silicon Valley Bank, American Express, and more.

With 500 employees in offices across Palo Alto, California and Houston, Texas, helps businesses manage accounts payables and receivables with online billpay, custom invoicing, document storage, collaboration tools, and more. The company’s platform moves $70 billion and 45 million documents on an annual basis and facilitates 8,000+ customer messages per day.

At the time of publication,’s stock price is up over 60% at $35.33 per share.

Finovate Alumni News


  • Begins Trading on NYSE at $22 per Share.

Around the web

  • CIO Look interviews Rob Leslie, Founder and CEO of Sedicii.
  • Clutch’s top 1000 list names Chetu among best B2B service providers in 2019.
  • CustomerXPs wins the IBS Intelligence Global FinTech Innovation Award for ‘Most Innovative Use of AI and Machine Learning.’

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.

TradeLedger and Mambu Team Up

Cloud banking platform provider Mambu and lending-as-a-service platform TradeLedger joined together recently to create an offering for online commercial lenders.

This client group, which the companies cite as an underserved $1.6 trillion (£1.2 trillion) opportunity, will offer commercial lenders a cloud-based solution to design, configure, and implement new lending products.

“Mambu’s composable banking approach blends perfectly with our vision for a brand-new mid-market transactional banking and trade infrastructure,” said Roger Vincent, Chief Innovation Officer at Trade Ledger. “Through an API-driven architecture, the Trade Ledger and Mambu platforms come together with Mambu Process Orchestrator allowing our customers to significantly reduce the cost of loan origination and servicing, improve customer experiences (internal and external), and rapidly increase the volume of their loan book – all without significant investment in more staff or resources.”

Mambu launched its composable banking concept to help financial services companies “compose the bank they want to be.” This approach enables banks to choose the best third party vendor for each process by facilitating as many integrations as the bank wants. And because technology is continuously evolving, Mambu allows banks to swap out integrations independently when they want to switch providers.

Mambu has raised almost $47 million in funding (€42 million) from investors including Bessemer Venture Partners, Acton Capital Partners, and CommerzVentures. The Berlin-based companymade its Finovate debut at FinovateAsia 2013 in Singapore. Last month, Mambu signed UK-based SME challenger bank Recognise.

Finovate Alumni News

Around the web

  • Move Your Business to the United States podcast features Aire CEO Aneesh Varma.
  • SumUp partners with donation software company to help charities to go contactless for Christmas.
  • TransferWise partners with Visa to enable real-time transfers to debit cards.

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.