“User-friendly adaptive user authentication via risk based authentication, or behavioral biometrics, and the reality of legacy systems at our current customers.BehavioSec extended its award-winning BehavioWeb and BehavioMobile solutions to offer policy-based behavior authentication actions.This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user.”
Author: Julie Muhn (@julieschicktanz)
Advanced Merchant Payments Debuts Its Small Business Lending Solution
Next, Advanced Merchant Payments (AMP) launched its online lending solution that helps banks provide a short-term lending product to their small business customers:
“AMP’s small business lending solution offers an efficient and scalable managed solution by which banks can readily originate and manage a broad portfolio of small business loans. AMP solves the problem wherein banks find short-term, unsecured, lending to their small business account-holders costly and inefficient.AMP’s platform utilizes existing communication methods (including commonly accepted file formats) to bridge the divide between the Retail Banking and Business Banking activities of a bank – without the costs and difficulties inherent in formal bank system integration. AMP can manage all or some stages of the loan process: from Qualification to Verification, Credit Scoring, Approval, Disbursement, Daily Repayment & Risk Monitoring, through to Completion.”
Yodlee Launches Tandem App Internationally
Next, Yodlee took the stage to debut its Tandem app:
“Most people have multiple “shared finances” in their life. Spouses. Children. Elderly parents. Accountants. Advisors. Friends. So Yodlee is introducing Tandem – the first collaborative financial app that lets users securely establish and manage their social financial relationships.From tagging transactions, to sharing documents, to sending money, to collaborating with advisors and accountants, Tandem gives users the power to establish financial circles based on levels of trust and account sharing access. And Tandem gives financial institutions the ultimate mobile banking app.”
Pixeliris’ CopSonic Uses Sonic Communication to Create a Universal, Contactless Mobile Payment Solution
“CopSonic is the first universal contactless mobile payment system powered by our unique technology. It is based on sonic communication transiting through the devices’ speakers and microphones. Therefore, our technology is compatible with 100% of existing phones and smartphones, unlike NFC technologies. Several patents have been filed with regard to the security of the transaction.Our technology also allows the use of phones and smartphones for online passwordless authentication. It turns mobile devices into security dongles.We have developed an SDK with our technology that allows third-party companies to integrate the modules and, therefore, create a business model based on transaction fees or licenses.”
Kofax’s Solution Uses Multiple Channels to Enhance the Underwriting Process
“Kofax is demonstrating how lenders can engage borrowers directly on mobile devices enabling them to interact with the loan origination process. Specifically when loans are not in good order and trailing documents are required, the solution engages customers providing them multiple channels to accelerate and supply the complex underwriting process.While mobile is the preferred channel, an omni-channel approach is realized using web, email, or fax. Additionally as these supporting documents are processed, analytics technology provides real-time dashboards and visibility across channels of customer engagement and adoption highlighting patterns, trends, bottlenecks, and efficiencies for right channeling customers and improved decisions.”
Payoneer’s Commercial Account Gives Businesses and Individuals Global Access to Their Funds
“The Payoneer commercial account offers businesses and individuals worldwide the ability to receive funds from a global network of corporate companies. Account holders have a variety of tools to access their funds, including low cost withdrawals to bank accounts worldwide, a Prepaid Debit MasterCard card that enables instant spending and ATM access, and options to transfer funds to local eWallets in select countries.The account can be managed from the Payoneer website or from a mobile application. Registration for the account is available via Payoneer’s website or directly from the website of companies that form the Payoneer commercial funds transfer network.”
Matchi Debuts its Global Innovation Community
“A global community innovation platform for the financial services industry that offers market ready banking innovations from across the globe and collaboration opportunities that have the potential to save the banks millions of dollars in development costs.”
Bill.com Rakes in $38 Million in Series E Funding from Long List of Investors
Bill.com, the company that brings online invoice, cashflow management, and bill pay solutions to its 275,000 users announced today that it raised $38 million in Series E funding.
Among the many investors in this round are:
- American Express
- August Capital
- Bank of America
- Fifth Third Capital
- Peter Knight, founder of CheckFree (acquired by Fiserv in 2009)
- Scale Venture Partners
This funding, combined with Bill.com’s previous rounds, brings the Palo Alto-based company’s total funding to over $70 million.
Bill.com, which manges more than 10 million bills per year worth more than $12 billion, will use the new installment to enhance its growing banking channel and accelerate its payments network.
Bill.com demonstrated its CashView product at FinovateSpring 2012.
An Exclusive Look at Arbor Ventures, an Asia-Focused VC Firm
In preparation for FinovateAsia November 14, we wanted to provide some insight into the region’s venture capital scene. Here’s what we learned from Melissa Guzy, Founder and Managing Partner for Arbor Ventures.
Arbor Ventures is a Hong Kong-based venture capital firm with roots in the Silicon Valley. The firm invests in companies based in Singapore, Hong Kong, and ASEAN regions, whose focus is in up-and-coming topics such as:
- Big Data
- Cloud Computing
- Financial Technology
- Collaborative Consumption
Guzy: The market in Asia is quite different than the US and Europe and China is different from the rest of Asia in terms of venture capital and market opportunities. In Asia, we are looking for entrepreneurs that can understand the local
opportunity, the business environment as well as scale across the region.
Finovate Alumni News– November 8, 2013
adesso to sell & implement Backbase’s Customer Experience Platform in Germany, Austria & Switzerland.
- ValidSoft announces appointment of Paul Burmester as CEO. Pat Carroll to assume role of Executive Chairman.
- Fidor Bank expanding into Russia through a joint venture Life.Sreda.
- Numbrs, Kofax make American Banker’s “Top 10 FinTech Companies to Watch” roster.
- Intuit announces partnership with American Express to support receipt data integration to QuickBooks.
- La Caixa launches social network for its investors, StockTactics.
Finovate Alumni News– November 7, 2013
American Banker reports: Bill.com Updates Banking Platform.
- FIS, Fiserv, BancVue, & IND Group included in 2013 FinTech 100 rankings.
- U.S. News and World Report wonders if FlexScore will replace credit scores.
- PC Mag reviews Manilla.
- Leaf earns a spot on BostInno’s “50 on Fire Finalists for Tech”.
Check Out FinovateAsia 2013’s Diverse Audience
If you’re coming to FinovateAsia next week, you’ll be rubbing shoulders with a wide-ranging crowd. For next week’s show, attendees will fly in from as far away as South America and the U.S. (check out the map here).

And a small sample of the organizations that will be attending:
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Don’t miss out on being a part of this diverse audience and seeing what your competition is up to. Get your ticket here.