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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
3forge’s Full Stack Enterprise platform has been in production across Tier 1 banks since 2014 with a focus on performance, flexibility and scale.
Features
Data agnostic, suitable for any industry
Delivers workflow solutions quickly and reduces developer time by 90%
World’s fastest real-time grids and visualizations
Why it’s great
Quickly build customized business critical web solutions with a focus on workflows, real-time visualizations and data discovery.
Presenter
Robert Cooke, CTO & Founder Robert Cooke is a software engineer with a life dedicated to the study of human/data interactions. After his tenure within the financial industry, he directed his efforts to create 3forge. LinkedIn
Fraud detection and prevention specialist Rippleshot announced a partnership with risk intelligence company Flashpoint to help fight payment card fraud.
The partnership will combine Rippleshot’s network of more than 4,500 FIs with Flashpoint’s fraud mitigation technology to help firms detect data breaches and fraudulent activity faster.
A 2022 Finovate Awards finalist, Rippleshot is based in Chicago, Illinois. The company made its Finovate debut in 2014.
Fraud detection and prevention solution provider Rippleshot has teamed up with risk intelligence firm Flashpoint to help financial institutions take more proactive steps to fight payment card fraud.
Rippleshot’s technology relies on a data consortium of more than 4,500 financial institutions – as well as AI/ML, automation, and data-driven strategies – to quickly detect data breaches and determine when and where the breach occurred. Combining Rippleshot’s compromised and high-risk merchant data and insights with Flashpoint’s payment and credit card fraud mitigation solution will enable financial institutions to upgrade their fraud prevention strategies.
“Flashpoint is a market leader in delivering intelligence that provides a detailed view into what cyber criminals in illicit communities are seeing,” Rippleshot CEO and co-founder Canh Tran said. “By pairing that with Rippleshot’s compromised and high-risk merchant data, this partnership will equip the industry with unparalleled financial intelligence to react much more quickly to instances of verified card fraud and proactively stop further damage from fraudsters.”
A Finovate alum since its debut at FinovateSpring in 2014, Rippleshot was named a finalist in the Best Back-Office/Core Services Solution category of the 2022 Finovate Awards for its collaboration with fellow Finovate alum Fiserv. The international financial services technology company embraced Rippleshot’s Card Risk Office Fraud Warning product, an early breach detection solution that enables FIs to spot potentially fraudulent activity 30 to 60 days before network alerts.
“Card fraud is a complex and ever-changing problem that demands a collaborative and proactive approach to tackle it effectively, so that cardholders can feel secure about the financial information they are using, storing, or transacting with,” Tran said when the partnership was announced. “We are excited to partner with Fiserv, a fintech leader that shares our passion and expertise when it comes to fraud-fighting technologies.”
Founded in 2013 and headquartered in Chicago, Illinois, Rippleshot has raised $7.3 million in funding according to Crunchbase. The company includes Method Capital , CMFG Ventures, and Wintrust Ventures among its investors.
How to power rapid approvals and accelerate your SME lending processes
Forty-four percent of SMEs look to funding to meet operating expenses, with this number expected to grow considerably during times of economic uncertainty. Fifty-six percent of SMEs seek funds to expand business operations or to pursue new market opportunities. But waiting months or even weeks for credit approval and funding can mean the difference between innovation and business closure.
Traditional financial services organizations may find lending to SMEs difficult, but fintechs are rising to the challenge. Simplified application processes, rapid approvals, and access to funds quickly makes working with digital lenders an obviously attractive choice.
Because if you aren’t making it easy for SMEs to get the credit they need, your competitors will.
Catch up on this panel discussion with industry experts, in collaboration with Provenir, and discover how to: • Power faster, simplified application processes • Make smarter, faster decisions and get to market faster • Future-proof your decision technology to keep up as market trends/demands evolve • Use advanced, predictive analytics like AI to keep risk in check
Featuring Corinne Llelti, Commercial Sales Director, EMEA, Provenir; Alex Daly Chief Finance and Risk Officer, Ask Inclusive Finance Group; and Julie Muhn, Senior Research Analyst, Finovate.
Greg Palmer’s Finovate Podcast continues to be the source of many of fintech’s most compelling conversations.
From discussions with innovation experts to deep dives with veterans of the VC world, the Finovate Podcast is a great way to learn about the trends that fintech enthusiasts are most enthusiastic about.
Here’s a rundown of recent episodes you might have missed over the summer.
Michael Butler, President and CEO, Grasshopper Bank
Finovate Podcast host Greg Palmer talks with Grasshopper Bank President and CEO Michael Butler on surviving and thriving as a neobank, and lessons for the broader fintech ecosystem. Episode 142.
“(Grasshopper) is a company that is focused on providing digital financial solutions to the business and innovation economy, mainly SMBs that are focused on technology and are technophiles by nature. We think there’s a big demand pull that has been coming for some time in the business side, and we think it’s the next great place for disruption from a digital banking perspective.”
Tony Ulwick, Creator, the Outcome-Driven Innovation Process
Greg Palmer introduces Tony Ulwick, founder and CEO of Strategn and creator of the Outcome Driven Innovation process, to Finovate audiences in this podcast conversation. Ulwick explains the importance of focusing on innovation that matters and successfully bringing new ideas to the market. Episode 141.
“I thought: if we just knew the metrics they were going to use to judge the value of our product a year and a half ago when we started developing it, we could just design the product to meet those metrics and we’d win in the marketplace. It sounds simple enough. But the (next) thought was: what are those metrics? How can we capture them? Do they exist?”
Tiffani Montez, Principal Analyst, Insider Intelligence
Podcast host Greg Palmer talks with Tiffani Montez, Principal Analyst with Insider Intelligence. In their conversation, Montez discusses strategies for keeping customers happy in times of economic uncertainty – and finding opportunity in challenging times. Episode 140.
“How do you safeguard consumer trust? We know that digital trust is the confidence that consumers place in their bank’s digital channels. And they have a prime opportunity to build this up as a commodity. We know over the last year the largest U.S. banks have come to aid in a time of pandemic related crisis. And customers have repaid that flexibility with greater trust in their primary financial institutions.”
“I would be remiss not to say that I struggle with startup nomenclature like this (neobank). These organisms evolve so quickly. Terms like “neobank” – at first they seem grandiose, way beyond what the businesses actually are. And then, before you know it, the end up feeling overly narrow and constricting.”
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
Pidgin makes faster payments possible across different use cases – whether it’s paying a friend back for dinner, accepting payments from customers, paying employees or paying vendor invoices.
Features
Pidgin supports:
Sending and receiving faster payments
Routing payments directly from one financial institution to another
Flexibility when routing payments across different networks
Why it’s great
Pidgin allows financial institutions and their account holders to securely send and receive faster payments with lower fees.
Presenter
Abhishek Veeraghanta, Head of Pidgin Abhishek Veeraghanta is head of Pidgin and Senior Vice President at VSoft, where he is responsible for overseeing the company’s growth strategies. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
The PayQuickerPayouts OS platform intelligently determines and facilitates the quickest and most cost-effective way for clients to send payouts to businesses and consumers globally.
Features
Turnkey integration with single REST API that plugs into multiple banks & global payment rails
Pay to 200+ countries, 40+ currencies
Routing intelligence based on client’s desired payout parameters
Why it’s great
Payouts OS is rooted in PayQuicker’s time-tested technology, designed to deliver global payouts faster and with more flexibility, increasing efficiency for HR, technology and treasury teams.
Presenters
Charles Rosenblatt, President A seasoned innovator in the payments industry, Charles Rosenblatt has held executive leadership positions at major global banks and prominent FinTech organizations and is now President of PayQuicker. LinkedIn
James Legan, Chief Technology Officer With over 20 years of experience in start-up and enterprise SaaS companies, James Legan leads the PayQuicker technology team to implement optimal technological solutions to complex business problems. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
MeasureOne is a consumer-permissioned data platform that enables businesses to request any data that lives in consumers’ online accounts — including income, employment, insurance, and education.
Features
MeasureOne is the only one-stop-shop for consumer-permissioned data:
MeasureOne is the only domain-agnostic consumer-permissioned data platform, which means any data type that lives in a consumer’s online accounts can be requested and shared for a business transaction.
Presenter
Yaron Oren, Chief Revenue Officer Yaron Oren is a veteran startup leader and entrepreneur with a specialization in PaaS/API-driven businesses that disrupt legacy workflows and unlock innovation for consumers and businesses alike. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
Mall IQ is a privacy-first location intelligence platform, empowering FIs to increase card and loan revenue and prevent fraud with real-time, personalized mobile engagements via proprietary location tech.
Includes store-level accurate global coverage without hardware in 1M+ stores
Why it’s great
Generate incremental revenue from current customers with precise location technology with real-time engagements before a payment or loan need to become top-of-wallet. Minimum effort needed to integrate and operate.
Presenters
Batu Sat, CEO Dr. Sat has been a business and tech leader for 20+ years. He earned his Ph.D. at the University of Illinois at Urbana-Champaign. He is an expert in ML/AI & Location Tech. He previously worked at Cisco and Microsoft. LinkedIn
Firuze Duygu Caliskan, COO Caliskan has an M.S. Degree in Engineering Management from Missouri University of S&T. 15+ years experience in strategic marketing and revenue expansion activities across the globe. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
Gridspace is a voice technology and artificial intelligence software company. The company provides natural-sounding virtual agents and voice observability software to contact centers.
Features
Performance – Gridspace runs neural networks directly on its own softswitches
Unified platform – Human & virtual agents in one place
Why it’s great
Gridspace is a true, full-stack provider of conversational AI – building and integrating its own enterprise-grade softswitch, conversational ASR, search engine, neural TTS, dialog systems and more.
Presenters
Evan Macmillan, CEO Before Gridspace, Macmillan co-founded Zappedy, a payments technology company that was backed by Eric Schmidt and acquired by Groupon. He has an engineering bachelor’s from Stanford in Product Design. LinkedIn
Adam Miller, Principal Engineer on Monophone Prior to Gridspace, Miller worked on the Search Webanswers team at Google and studied computer science at UIUC. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
Bankjoy’s new Business Banking platform makes it easier for community banks and credit unions to deliver truly feature-rich digital banking technology to their business customers.
Features
Use one portal for multiple business accounts
Manage users & control permissions
Send transfers to multiple recipients & more
Presenter
Michael Duncan, CEO & Co-Founder Before founding Bankjoy, Duncan managed software development for a large credit union in Michigan, including the development of their mobile banking app. LinkedIn
A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.
Apiture’s embedded banking tools allow financial institutions to embed financial services into non-bank partners’ software, extending these services to new users and giving more convenient banking options.
Why it’s great
Embedded banking enables financial institutions of any size to create new revenue streams by attracting users outside of their existing geographic footprint and cross selling in new ways.
Presenters
Daniel Haisley, EVP of Innovation Haisley leads Apiture’s innovation efforts encompassing Data Intelligence and API Banking solutions. He has an extensive background in product and design management and, prior to his time at Apiture, Haisley held product leadership roles at Live Oak Bank and 1st Source Bank. He brings 10+ years of experience driving innovation in technology for financial institutions.
Haisley is a graduate of Purdue University in West Lafayette, IN, where he earned a B.S. in Financial Counseling & Planning, and the Graduate School of Banking at the University of Wisconsin in Madison, WI. LinkedIn
Danielle Eriksson, Director of Product Management Eriksson is responsible for leading the API Banking and Embedded Banking initiatives on the Innovation team. She has experience in capital markets, building financial products for retail and institutional investors, as well as building financial technology solutions to help financial institutions improve cost efficiencies, engage customers, and ultimately grow the balance sheet.
Eriksson graduated from Tufts University, where she earned a bachelor’s degree in Economics. She is currently pursuing a master’s degree in Quantitative Management and Business Analytics from the Fuqua School of Business. LinkedIn
Currencycloud teamed up with Future FinTech Labs (FTFT Labs) to help the New York City-based fintech launch its Tempo app.
Tempo is designed to make it easier, more secure and more effective for U.S. immigrants to send money overseas.
Acquired by Visa in 2021, Currencycloud has processed more than $100 billion in cross-border money transfers since inception in 2012.
Global payments solutions and infrastructure company Currencycloud has partnered with Future FinTech Labs (FTFT Labs) to help the NYC-based fintech launch a new remittance solution for U.S.-based immigrants. The new offering, an app called Tempo, will help immigrants living in the U.S. send money securely to North America, Italy, Spain, France, Germany, the United Kingdom, India, and the Philippines.
Tempo will gives FTFT Labs customers access to a multi-currency wallet that makes sending money internationally easier and more cost-effective compared to other high-fee remittance services. Tempo app users will be able to leverage both FTFT Labs’ Conversion Tool to buy and trade currencies and use FTFT Labs’ Funds feature to top off their digital wallet.
“Tempo represents an easy, fast, and secure way to transfer money cross-border,” FTFT Labs CEO Sean Liu said. “Working with Currencycloud and using the breadth of services it allows us to offer our customers a seamless process from start to finish. We are confident we will be able to continue to make remittance a seamless process for our end users.”
Tempo users pay a fee of $2.99 pre-transaction – although the company is currently offering customers fee-free transactions when they sign up. Transfers via Tempo take place instantly rather than over the three business days typical of other money transfer apps, and users can send as little as $20 or as much as $1,500. Tempo sees its transfer amount limit as an advantage compared to other money transfer apps that do not have a limit, seeing the limit as a way to help ensure “a high level of security, by design, for users.” The Tempo app is available for both Android and iOs devices.
Making its Finovate debut in 2012, Currencycloud most recently demonstrated its technology at FinovateSpring 2018. The London-based company serves banks, fintechs, and foreign exchange brokerages, helping them and their customers make seamless and secure cross-border transactions in multiple currencies. Since inception, Currencycloud has processed more than $100 billion transferred between more than 180 countries. Acquired by Visa in 2021, the company includes fellow Finovate alums Dwolla and Mambu among its partners. Currencycloud maintains offices in New York, Amsterdam, Cardiff, and Singapore.
“Migrants in the U.S. should be able to send money cross-border without friction and without prohibitive costs,” Currencycloud VP of Sales Lewis Nurcombe said. “A fintech like Future FinTech Labs understands the needs of working people wanting to send money to family and friends, and as such is successfully reimagining how money flows for this huge market.”
Future FinTech Labs is a subsidiary and research and development center for FTFT Group. FTFT Labs is dedicated to designing, developing, and providing operational support for FTFT’s digital banking and payment services offerings.
