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FinovateEurope 2023 Sneak Peek: NayaOne

By Madeline Clines Posted on March 2, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, NayaOne

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

NayaOne accelerates a company's digital transformation with single-key access to 200+ fintechs to discover, evaluate, and scale new solutions to production.

Features

Execute POCs 10x faster with results in 4-6 weeks instead of 12-24 months

Includes secure sandbox environment with 2.5 billion data points to support evaluation

Reduces cost by 80%

Why it's great

NayaOne provides the fastest way to execute on digital transformation projects using fintech solutions to innovate, remain competitive, increase revenue, and stay ahead of customer expectations.

Presenters

Karan Jain, CEO & Founder
Jain is the former CIO of a multinational bank and a highly regarded technologist and practitioner, now solving a problem in the market he experienced firsthand.
LinkedIn

Oli Platt, Product & Marketplace Manager
Platt is a data-led product manager with a data science background…

BankProv Partners with Intelligent Cash Management Platform MaxMyInterest

By David Penn Posted on March 1, 2023
Categories: Daily news, MaxMyInterest

Massachusetts-based BankProv has inked a partnership with cash management platform MaxMyInterest to offer BankProv Max Savings, a new high-interest savings account. No minimum balance is required to open the account, which is available exclusively on the MaxMyInterest platform. MaxMyInterest users can earn up to 4.55% APY on their cash deposits compared to the national savings average of 0.35%.

Future-ready commercial bank BankProv has teamed up with intelligent cash management platform MaxMyInterest. The partnership will give customers and clients of both companies access to a new, high-interest savings account, BankProv Max Savings. The new account will be offered exclusively on the MaxMyInterest platform. No minimum balance will be required to open the account.

"From quickly opening an account to maximizing returns on deposit balances, the BankProv Max Savings account on the MaxMyInterest platform will further enhance the banking experience for our clients," BankProv co-CEO Joe Reilly said. "We…

Wise Launches Two New Products, Undergoes Rebrand

By Julie Muhn (@julieschicktanz) Posted on March 1, 2023
Categories: Alumni News, Daily news, TransferWise, Wise

Wise is unveiling a new look and feel, as well as two new products. The company anticipates its "visual makeover" will create a more consistent user experience. The two new products include the Wise Business Card and a money transfer link.

It can be tough for a legacy fintech to make noise among the onslaught of new competing digital tools released on a weekly basis. Despite the challenge, cross-border money transfer product Wise is finding a way.

The U.K.-based company has swapped its color scheme from blue to green. But that's not all that has changed. As Wise described in a press announcement, "The complete visual makeover features a fresh green palette and a bold new font, and draws from global currencies, languages, alphabets and places around the world."

Interestingly, Wise changed its name from Transferwise two years ago in an effort to broaden its image from a money transfer…

Klarna Reports Loss But Plans to Return to Profitability by Summer

By Julie Muhn (@julieschicktanz) Posted on February 28, 2023
Categories: Alumni News, Daily news, Klarna

Klarna reported a $1 billion operating loss in 2022, up from a $680 million operating loss in 2021. Despite the loss, Klarna plans to return to profitability by this summer. Klarna last reported a full year profitability in 2018.

Consumer payment services company Klarna is inching toward profitability, but is still in the red.

The Swedish company released its operating figures this week, reporting an operating loss of $1 billion for 2022 (10.5 billion crowns). The negative side of the news is that Klarna's operating loss increased-- the company reported a loss of $680 million in 2021. But the positive spin is that Klarna plans to return to profitability by summer.

Last week, the buy now, pay later (BNPL) player reported it has seen a large amount of growth in its U.S. market. The region generated a 71% year-over-year increase in gross merchandise volume, while improving credit loss rates…

CoreLogic Acquires Digital Mortgage Platform Roostify

By David Penn Posted on February 28, 2023
Categories: Alumni News, Alumni profile, Daily news, Mergers & Acquisitions, Roostify

Almost a decade after the company made its Finovate debut at FinovateSpring, digital mortgage platform Roostify has agreed to be acquired by property information, analytics, and data-enabled solutions provider CoreLogic. Terms of the deal were not disclosed.

"We believe that this is an important transaction for the industry," Roostify co-founder and CEO Rajesh Bhat said. "From inception, Roostify's mission has been to accelerate and streamline the home lending journey. Bringing together the power of CoreLogic's data and analytics suite with the Roostify digital lending platform allows us to accelerate the journey towards a truly data driven digital origination experience in one single platform."

The integration of the two technologies will help clients secure key data about both borrowers and properties at the beginning of the lending process. This not only saves time and money, but the transparency also helps ensure that lenders receive the information they need as early as…

Payment Intelligence Company Pagos Locks in $34 Million in New Funding

By David Penn Posted on February 28, 2023
Categories: Daily news, Funding

Payment intelligence company Pagos has raised $34 million in Series A funding. The capital, which takes the company's total equity funding to $44 million, will be used to expand the company's engineering team and advance Pagos' enterprise product suite. Pagos was founded in 2021 by veterans of Braintree, Venmo, PayPal, Stripe, eBanx, Klarna, and Apple.

In a round led by Arbor Ventures, payment intelligence company Pagos has secured $34 million in Series A funding. The oversubscribed round also featured participation from Point 72 Ventures, Infinity Ventures, and Underscore VC. The investment will enable the company to grow its engineering team and advance Pago's enterprise product suite.

"Our platform helps companies understand and act on the data that already exists within their payments environment, allowing them to better support changing consumer behavior and demands, reduce their operating costs, increase their revenue, and mitigate unnecessary customer friction -- all without having to…

FinovateEurope 2023 Sneak Peek: Quoroom

By Madeline Clines Posted on February 28, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Quoroom

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

Quoroom is the end-to-end fundraising and cap table management software for private companies. It is a secret weapon to raise capital faster, and manage shareholders and company compliance in one place.

Features

Includes an Investor CRM and Metrics Visualization to raise capital faster Supplies Data Room and Legal Templates to close a funding round cheaper Provides Integrated Cap Table to issue shares and manage employee options

Why it's great

One powerful platform for companies to raise capital and manage investors. One source of truth on deal flow and portfolio companies for investors.

Presenter

Ulyana Shtybel, Co-Founder & CEO
Shtybel has 10+ years in capital markets, and is the former Executive Director of the Warsaw Stock Exchange Office in Ukraine. Shtybel was named one of the InspiringFifty 2022 - The Top Fifty…

FinovateEurope 2023 Sneak Peek: Openfinance

By Madeline Clines Posted on February 28, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Openfinance

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

Openfinance Ecosystem is a marketplace where the best wealthtech solutions are co-created together with the most innovative companies currently taking the lead.

Features

Reduces provider and operational risk Reduces integration costs and time to market Selects the best innovative solutions that fit a company's needs

Why it's great

Openfinance Ecosystem does not just integrate multiple providers; it also creates synergies with third party solutions to cover the entire value-added chain through a single platform.

Presenters

Gonzalo de la Peña, Founder & Chief Business Development Officer
de la Peña has accumulated more than 20 years of experience revolutionizing the fintech industry.
LinkedIn

Paula Moreno, Product Lead
Moreno holds a degree in Business Administration and joined Openfinance in 2008, accumulating 25 years of professional experience.
LinkedIn

FinovateEurope 2023 Sneak Peek: Fyndoo (by Topicus)

By Madeline Clines Posted on February 28, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Topicus

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

Fyndoo by Topicus will demo its impact-based pricing model, which determines a loan price based on sustainable impact. The company also will demo the ESG Policy Mix Panel: a tool for policy makers to model their ESG policy.

Features

Price a loan based on ESG impact Differentiate from competitors with a focused ESG policy Model a company's ESG policy effortlessly and allow for instant implementation

Why it's great

Impact-based pricing is a key instrument for creating sustainable change. The Mix Panel is a unique way to model and implement an ESG Policy.

Presenter

Mariam Malwand, Manager New Business
Within Fyndoo, Malwand is responsible for managing new business. She ensures a match between the strategic objectives of her clients and the opportunities that Fyndoo has to offer!
LinkedIn

FinovateEurope 2023 Sneak Peek: Partner HUB

By Madeline Clines Posted on February 28, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Partner HUB

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot.

Partner HUB will demo how banks can use request-to-pay and provide a next-generation EBPP service for their customers. Partner HUB will also showcase its integration with AnswerPay's RTP solution.

Features

Build a value added service upon the instant payment infrastructure Provide automated reconciliation for merchants for invoices, payments, and payment requests

Why it's great

E-invoicing will add significant value to banking in the future. Request-to-pay is the first use case to demonstrate how enriched datasets can create value for banks and their customers.

Presenters

Katalin Kauzli, Co-Founder & Business Development Director
Kauzli is an advocate for using invoice data in banking. She is active in several industry initiatives.
LinkedIn

Peter Malaczko, Founder & CEO
Malaczko has been involved in invoicing IT development projects for the last 20 years, both in the…

eToro Teams Up with Sentifi to Launch Social Sentiment Portfolio

By David Penn Posted on February 27, 2023
Categories: Alumni News, Daily news, eToro, Sentifi

eToro launched its SocialSentiment portfolio of stocks with high ESG and social sentiment criteria this week. The new offering was made possible courtesy of a partnership with alternative data provider - and fellow Finovate alum - Sentifi. Sentifi's technology analyzes more than 500 million tweet - and two million news articles, forums, and blog - in order to create its social sentiment rating (sentScore) for positive social chatter.

eToro has unveiled a new solution for investors looking for exposure to U.S. companies with strong ESG performance. The social investing network has teamed up with alternative data provider Sentifi to launch SocialSentiment, a new portfolio offering that features the top 10 stocks in the S&P 500 that meet ESG and social sentiment criteria. Rebalanced monthly, the initial roster of stocks in the SocialSentiment portfolio are: Verisign, Teradyne, Northern Trust, Mid-America Apartment Communities, Intuitive Surgical, Fifth Third Bancorp, F5 Networks, Equity…