Blog - Page 180 of 1290

NTT Data Payment Services Taps Facctum to Stop Financial Crime

By Julie Muhn (@julieschicktanz) Posted on May 17, 2023
Categories: Alumni News, Alumni profile, NTT Data

NTT Data's payments arm, NTT Data Payment Services, announced it has teamed up with risk analytics platform Facctum. The India-based payment company will leverage FacctView, Facctum's anti-financial crime technology.

FacctView will help NTT Data Payments Services detect and assess sanctions, terrorism financing, and money laundering on its e-commerce platforms. In addition to protecting customers, FacctView's technology also helps firms stay compliant. Because payment service providers are subject to increased regulation as fraudulent incidents increase, many have invested in risk screening capabilities.

"The payments ecosystem is facing a growing threat from financial criminals," said Facctum Founder and CEO K.K. Gupta. "This is increasing the need for regulatory and compliance countermeasures. Leaders of PSPs have therefore recognized the vital importance of robust and resilient anti-financial crime technology to meet the challenges of regulatory change and ever-changing risks. I am humbled that NTT Data Payment Services has trusted Facctum technology to…

Solve Finance Unveils Latest Debt Management Partnerships

By Julie Muhn (@julieschicktanz) Posted on May 16, 2023
Categories: Alumni News, Daily news, Solve Finance

Solve Finance has partnered with credit analysis tool ScoreNavigator and home financing ecosystem Better.com.

The company's Debt Optimizer is helping its customers understand their debt-to-income ratio (DTI), and ultimately qualify for financing.

The company is teaming up with Better.com to launch a feature to optimize consumers' home-buying power.

Solve Finance recently unveiled two new fintech partners. The New York-based company has tied up with credit analysis tool ScoreNavigator and home financing ecosystem Better.com.

Solve Finance's technology will help ScoreNavigator's clients navigate their credit journey by looking at more than just their credit score. The company's Debt Optimizer tool also shows them their debt-to-income ratio (DTI), a key metric in receiving a mortgage or refinancing an existing property.

"By partnering with Solve Finance, our members will get a complete analysis of their DTI, along with a plan to help them qualify for financing," said ScoreNavigator CEO Rusty Bresse. "Solve Finance…

Consumer Engagement Platform SKUx Launches New Card Program with Highnote

By David Penn Posted on May 16, 2023
Categories: Alumni News, Daily news, Highnote

Embedded finance company Highnote is powering the new card program from SKUx.

SKUx is a payments technology and consumer engagement platform headquartered in Florida.

San Francisco, California-based Highnote made its Finovate debut last May at FinovateSpring 2022.

SKUx, a payments technology and consumer engagement platform, has launched a new card program. The company has teamed up with embedded finance company Highnote to power the new offering. SKUx noted in a statement that the partnership will help the Florida-based company continue to innovate in the disbursements space.

Highnote's card platform technology enables a range of solutions from SKUx. Among these products are SKUx Customer Care and Recovery, which streamlines the product recall process, and SKUx Crisis Disbursements, which streamlines emergency payments to individuals. These new solutions join SKUx's flagship solution, SKUPay, for product-based payments redeemed at the point of purchase.

In a statement, SKUx co-founder and President Bobby…

FinovateSpring 2023 Sneak Peek: Kani Payments

By Heather Stowell Posted on May 16, 2023
Categories: FinovateSpring 2023, FinovateSpring 2023 Sneak Peek, Kani Payments

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Kani Payments' automated reconciliation and reporting services for payments companies and fintechs globally allows them to report accurately and fulfill compliance obligations fast.

Features

Reconciliation: End-to-end automated reconciliations

Compliance: Legal, regulatory, and scheme reporting requirements

Intelligence: Explore data and understand consumer and product behavior

Why it's great

Electronic money institutions, BIN sponsors, challenger banks and fintechs use Kani to do weeks of complex transaction reporting and reconciliation work in under 30 seconds.

Presenters

Marc McCarthy, Chief Commercial Officer
McCarthy was appointed Chief Commercial Officer for Kani Payments in 2022 and has a wealth of experience in the financial services sector, with a background in banking, technology and business development.
Linkedin

Priya Jadeja, Head of Pre-Sales
Jadeja was appointed Head of Pre-sales for Kani Payments in 2023 with over…

FinovateSpring 2023 Sneak Peek: Bankable Fintech

By Heather Stowell Posted on May 16, 2023
Categories: Bankable Fintech, FinovateSpring 2023, FinovateSpring 2023 Sneak Peek

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Bankable Fintech streamlines how financial institutions, vendors, and fintechs find, partner, and buy from each other. Navigate through the noise of 120,000+ solutions and 1,500 financial institutions with unbiased, prescriptive AI.

Features

Prescriptive AI-enabled matching of banks, CUs, vendors, consultants, and fintechs

Comprehensive, personalized, and unbiased

Compliant, efficient, effective, and profitable

Why it's great

Prescriptive AI enables smart sourcing and procurement, benefitting any sized financial institution, fintech, vendor, or consultant by removing bias and inefficiency and optimizing compatibility.

Presenter

Kim Fraser, CEO & Founder
Fraser founded and built Bankable Fintech. Previously, she led BD, Sales and Product teams at F100 financial institutions, global technology and data management firms, and startup fintechs, in all geos.

FinovateSpring 2023 Sneak Peek: Ionate

By Heather Stowell Posted on May 16, 2023
Categories: FinovateSpring 2023, FinovateSpring 2023 Sneak Peek, Ionate

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Ionate deploys a cloud-modernization journey from any legacy to cloud-native microservices in under 18 months with SOTERIA (Discovery & Assessment) and APPDATE (Complete App Modernization).

Features

Discovery assessment tool showing business rules and logic

AI/ML to modernize and migrate legacy systems to high-performing cloud-native infrastructures

Ability to work with any legacy application

Why it's great

Using both SOTERIA and APPDATE, Ionate ensures and employs the most efficient and productive end-to-end journey from discovery & assessment to complete app modernization execution.

Presenters

Ajanta Adhikari, CEO & Founder
As a leader and visionary at Akamai for over ten years and IBM, Adhikari took his technical innovation to start Ionate, Inc. in 2016. He saw a market need that he could solve successfully.
LinkedIn

Amol Dharmadhikari, CTO
With over 15 years…

Small Move, Big Impact: Plaid’s API Migration Paves the Way for U.S. Open Banking Revolution

By Julie Muhn (@julieschicktanz) Posted on May 15, 2023
Categories: Julie's Column, Plaid, Thought Leadership

Financial infrastructure company Plaid made a relatively quiet announcement last week that will have a big impact on open banking in the U.S. The California-based company unveiled that it has migrated 100% of its traffic to APIs for major financial institutions, including Capital One, JPMorgan Chase, USAA, Wells Fargo, and others.

Taken at face value, this announcement appears to be nothing more than a fintech adding new bank clients. Looking deeper, however, there are three significant aspects of Plaid migrating its traffic to the banks' APIs.

First, today's move shows banks' shifts in attitude toward open banking. Because the U.S. does not have regulation surrounding open banking, many U.S. banks don't have the motivation to make consumers' financial data open to third parties or don't want to deal with the security implications that opening up consumers' data to third parties may have. Additionally, in some cases, the banks do not…

Generative AI-Powered Business Automation Specialist Kognitos Secures $6.75 Million

By David Penn Posted on May 15, 2023
Categories: Alumni News, Daily news, Funding, Kognitos

Business automation specialist Kognitos raised $6.75 million in seed funding. The investment takes the company's total capital to $9.35 million.

Kognitos leverages Generative AI and Natural Language Processing (NLP) to enable business users to build automations using "English as code."

Kognitos made its Finovate debut at FinovateSpring last year.

Here's a funding announcement from a new alum that slipped beneath our radar. Business automation solution provider Kognitos raised $6.75 million in seed funding earlier this year. The round was led by Clear Ventures. Engineering Capital and Wipro Ventures, the corporate investment arm of Wipro, also participated. The investment takes Kognitos' total funding to $9.35 million.

Kognitos will use the capital to expand its cloud-based Koncierge platform. The platform leverages an AI engine that interprets English as well as humans do. This enables businesses to build automations using natural language. Koncierge blends business data and logic with logic learning machine…

Smart Raises $95 Million for Retirement Technology

By Julie Muhn (@julieschicktanz) Posted on May 15, 2023
Categories: Daily news, Funding

Smart just landed $95 million in funding for its savings and investment platform.

The Series E funding brings Smart's total raised to $391 million.

Today's investment will fuel the company's global expansion and boost its retirement savings platform, Keystone.

Global savings and investment platform Smart has raked in $95 million in a Series E round this week. The London-based company's total funding now sits at $391 million.

Aquiline Capital Partners led the round, followed by existing investors Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays, and Natixis Investment Managers.

Smart, which currently operates in Europe, the U.S., the Middle East, and Asia, will use today's investment to further fuel its global expansion. The funding round will also help finance acquisitions and boost its retirement savings technology platform, Keystone.

Andrew Evans and Will Wynne co-founded Smart in 2014 after the U.K. launched its workplace pension auto enrollment requirement. The company serves…

SMB Banking is Being Changed Rapidly by Embedded Finance

By Lili Nguyen Posted on May 15, 2023
Categories: Sponsored

This is a sponsored article by Jesper Petersen, CTO, 9Spokes

SMBs have long been a challenge for banks to serve well. They are often too small to offer a tailored service that they may need during times when there is opportunity for growth or when their business is suddenly challenged.

Embedded finance is rapidly becoming a new norm for SMBs in payment and banking. The segment has expanded rapidly and is expected to generate revenue of $230 billion USD in 2025. This a 10-fold increase from the $22.5 billion generated in 2020.

At the same time, the SMBs are too diverse to address in a scalable way that makes sense for the banks. Whilst there are still dependencies between the SMB and the bank, many new options are also available for the SMB, which means many find alternatives that serve them better even if the cost may be higher.

…

Finovate Global France: Automating Payments, Extending Loans, and Collaborating on Crypto

By David Penn Posted on May 12, 2023
Categories: Finovate Global, iProov, Mambu, MasterCard, Numeral, PaySend, Revolut, VISA

This week's edition of Finovate Global takes a look at recent fintech developments involving companies headquartered in France.

First up is news that European Buy Now, Pay Later firm Alma has partnered with BNP Paribas and new Finovate alum Numeral to automate payments.

"As part of our goal to create the most fluid and seamless experience for both merchants and customers, paying our 11,000 and growing merchants reliably and efficiently is critical," Alma COO and co-founder Guillaume Desloges said. "Numeral enables us to scale with confidence and focus on our core business."

Alma Finance and Strategy Senior Manager Simon Shohet explained that the integration of Numeral into both its systems as well as BNP Paribas' systems, audit trails, and approval rules will enable automation of the process of managing "thousands of daily payments at scale." Shohet added, "Thanks to Numeral, we can focus on the most critical incidents and rapidly…