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FinovateEurope 2023 Sneak Peek: Refine Intelligence

By Madeline Clines Posted on February 21, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Refine Intelligence

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. Refine Intelligence is transforming AML by ‘catching the good guys’ using AI to automatically identify the life stories behind anomalous transactions. Features Explains 80% of alerts in minutesDelivers 90% reduction in triage timeProvides clear evidence, consistency and explainability Why it's great By 'catching the good guys' in anti-money laundering, companies identify their customer’s life stories, keeping customers happy and saving the bank time and money. Presenters Uri Rivner, CEORivner is a technology innovator who has been fighting fraud and financial crime for decades. He founded Refine Intelligence to disrupt the current paradigm.LinkedIn Gillie Natra, Product ManagerNatra is a talented visual communicator and user experience expert. She is the Product Manager at Refine Intelligence, an innovative company in anti-money laundering.LinkedIn

Payoneer Earns E-Money License from the U.K.’s FCA

By Julie Muhn (@julieschicktanz) Posted on February 17, 2023
Categories: Alumni News, Daily news, Payoneer

Payoneer received its e-money license from the U.K. Financial Conduct Authority.The license will enable the digital commerce company to continue serving its U.K.-based customers.Having earned the license, Payoneer now plans to grow its footprint in the U.K. region. Global digital commerce company Payoneer received its e-money license from the U.K. Financial Conduct Authority (FCA) this week. The license will enable Payoneer to continue to provide its e-money services to U.K.-based businesses. "The FCA traditionally sets the tone of financial regulation globally and therefore we are extremely proud to be receiving our e-money license in the U.K., said Payoneer Payment Services CEO and SVP of Payoneer Europe James Allum. "We’re excited to be able to continue serving our customers in the U.K. and with our relationship with the FCA. Our customers in the UK now have confidence in Payoneer’s consistent ability to provide regulated financial services of the highest standard." With…

Market Data Firm QUODD Acquires Competitor Xignite

By Julie Muhn (@julieschicktanz) Posted on February 16, 2023
Categories: Alumni News, Daily news, Mergers & Acquisitions, Xignite

QUODD has agreed to acquire fellow market data company Xignite.Combined, the two companies will serve more than 2,200 firms, ranging from large banks and wealth management platforms to smaller digital investment tools. Financial terms of the deal were undisclosed. Two market data firms are combining this week, as QUODD Financial Information Services acquires Xignite. Financial terms of the deal were not disclosed. QUODD said the purchase reinforces its commitment to become "the premier cloud-based global financial market data and content provider." Company CEO Bob Ward added, "Xignite is well known for being an early adopter of delivering high-quality market data solutions via the cloud as well as for its extensive API-driven data catalog. I look forward to working with Stephane Dubois, CEO of Xignite, and his team to help us fuel our next chapter of growth delivering the most accessible and reliable data for our customers." Combined, Xignite and QUODD…

FinovateEurope 2023 Sneak Peek: ebankIT

By Madeline Clines Posted on February 16, 2023
Categories: ebankIT, FinovateEurope 2023, FinovateEurope 2023 Sneak Peek

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. ebankIT enables banks and credit unions to future-proof their digital strategy and to offer a proactive, interactive, and consistent experience through every banking channel. Features Includes a new tool to anticipate clients' needsProvides back-office ratings of each user experienceUses data so banks know the best way to address each customerAlerts clients when a bug is solved and why it happened Why it's great A tool that assesses the banking app performance of each client and uses that data to give customers an experience tailored to their unique needs and past experiences. That's what ebankIT does. Presenters Pete Atkinson, VP of Global SalesAtkinson has spent much of his career working at the convergent point of technology, business, and consumers. He is VP of Sales at ebankIT and for the last 15 years…

FinovateEurope 2023 Sneak Peek: Storied Data

By Madeline Clines Posted on February 16, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Storied Data

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. Storied Data's platform creates and distributes smart digital documents. Get rid of PDFs and transform all digital communications with in-document UI/UX, data interactivity, and analytics. Features Replaces PDFs and static documents with smart digital documentsCreate a transformational user experience with Hybrid DocuAppsImproves cost, time, and ESG efficiency by 90% Why it's great Documents are companies’ most frequent stakeholder touchpoints. UX should be similar to mobile and web apps and remain portable and accessible - online and off. Presenters Rado Kotorov, Founder & CEOKotorov is a business leader and innovator with many patents, articles and books. He is passionate about data and digital technologies that create new business models and revenue streams.LinkedIn Antoine Chausson, CRO EMEAChausson is a senior banking executive with over 30 years of international banking management.LinkedIn

FinovateEurope 2023 Sneak Peek: Finshape

By Madeline Clines Posted on February 16, 2023
Categories: FinovateEurope 2023, FinovateEurope 2023 Sneak Peek, Finshape

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. Finshape delivers ready-to-use, customisable digital banking solutions for retail, corporate, and SME clients in Europe, Africa, and MENA regions. Features Includes a mobile banking app with data-driven business insightsCreates informative and swipeable stories about the SME’s financesDelivers relevant and actionable notifications to provide more sales opportunities Why it's great Finshape is a digital banking solution provider that boosts digital engagement, loyalty, and sales among companies' customers with actionable insights through mobile banking platforms. Presenters Tamás Braun, Head of International SalesBraun is a stakeholder and the head of the international sales team at Finshape. Braun has more than 20 years of experience in the digital banking field.LinkedIn Christian Hanke, Regional Sales DirectorHanke is a regional sales director at Finshape. He has more than 10 years of experience in the digital banking field.LinkedIn

Experian Teams Up with Envestnet | Yodlee to Bring the Benefits of Open Data to Lenders

By David Penn Posted on February 15, 2023
Categories: Alumni News, Envestnet, Experian, Yodlee

Experian announced a partnership with Envestnet | Yodlee to help lenders in Australia take advantage of open data.The collaboration will help Experian manifest its open data strategy in the country following its application to be an Accredited Data Recipient.Both Experian and Envestnet | Yodlee have been Finovate alums since 2012 and 2016, respectively. Information services company Experian has picked a partner as its official Open Data API provider in Australia. The company is teaming up with data aggregation and analytics platform Envestnet | Yodlee in an alliance that will allow Experian to access data under the Consumer Data Right (CDR) from data holders including Australia's Big Four banks and more than 70 Australian FIs. "Open Data solutions have the capability to solve two of the biggest challenges for Australian lenders: the accuracy of data to support responsible lending and streamlining the customer experience to get a faster decision," General Manager…

PhonePe Raises $100 Million at $12 Billion Valuation

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

PhonePe raised $100 million in funding from Ribbit Capital, Tiger Global, and TVS Capital Funds, bringing its total funding to $2.2 billion.The investment values the company at $12 billion.PhonePe will use the funds to scale its existing payments and insurance businesses and to enter new financial services sub-sectors. Digital money app PhonePe just raised $100 million in funding from Ribbit Capital, Tiger Global, and TVS Capital Funds. The investment follows a $350 million round PhonePe received last month and brings the India-based company's total funding to $2.2 billion. Today's round, which values PhonePe at $12 billion, contributes to the company's $1 billion capital raise target. Within six weeks of benchmarking the $1 billion goal, PhonePe is almost halfway there. The company has already raised $450 million and "expects further investments from leading global, as well as prominent high net worth Indian investors in due course." The mobile payments innovator will…

Digital Asset Platform Bakkt Bets on B2B, Pivots from Consumer Crypto

By David Penn Posted on February 14, 2023
Categories: Alumni News, Alumni profile, Bakkt, Daily news

The decision by digital asset platform Bakkt to pivot toward B2B technology solutions and away from consumer-based crypto products appears to be part of the greater re-evaluation that many fintechs are doing in the wake of the crypto crash of 2022. The company, which made its Finovate debut at FinovateFall last September, announced this week that it was turning the page on its consumer-facing app, launched in March 2021. Instead, the Alpharetta, Georgia-based fintech will focus on helping businesses provide crypto and loyalty experiences to its customers via SaaS and API solutions. "As we continue to gain traction with our B2B2C strategy, we are laser focused on providing our partners and clients with seamless solutions that best serve their needs," Bakkt President and CEP Gavin Michael said. "The discontinuation of the app ensures we are supporting the relationship our partners and clients have with their customers. With this move, we…

FIS Breaks Off Merchant Solutions, Plans to Restore Worldpay Brand

By Julie Muhn (@julieschicktanz) Posted on February 14, 2023
Categories: Alumni News, Daily news, FIS, WorldPay

FIS is letting go of its Merchant Solutions business, along with the Worldpay brand, which it originally acquired for $34 billion in 2019. The company states that Worldpay needs a different capital allocation strategy to enable the brand "to pursue more aggressive investment opportunities, including M&A."The spin-off is expected to take 12 months. FIS acquired Worldpay for $34 billion in 2019, and after rumors of a break-up swirled last week, the Florida-based firm announced plans to let go of and restore the Worldpay brand. Specifically, FIS is spinning out the Merchant Solutions business it created from the Worldpay acquisition. Jeffrey A. Goldstein, FIS Chairman of the Board, said that "... the spin-off of Worldpay will unlock shareholder value by improving both companies’ performance, enhancing client services, and simplifying operational management. We are confident that this is the right time for the separation of Worldpay." Goldstein added that the Merchant Solutions…

Paytech HUMBL Launches Mobile Wallet

By David Penn Posted on February 14, 2023
Categories: Daily news

Paytech HUMBL unveiled its new mobile wallet this week.The new offering enables users to buy, sell, and hold digital assets, and includes a search engine and a social media platform.Currently available for Apple users, an Android version of the wallet is expected "soon." California-based paytech HUMBL is the latest company to launch a mobile wallet with more than just money in mind. The company's HUMBL Wallet offering not only enables users to buy, sell, and hold digital assets; it also serves as a search engine and a social media platform with independently verified user profiles and brands. "The HUMBL Wallet allows global customers to quickly search, verify, and transact with each other in new ways in the digital economy," HUMBL CEO Brian Foote explained. "As consumers move from Web 2 onto Web 3 via HUMBL, we believe that digital wallets, as well as verified people and products, will start to…

FinovateEurope 2023 Sneak Peek: Ender Turing

By Madeline Clines Posted on February 14, 2023
Categories: Ender Turing, FinovateEurope 2023, FinovateEurope 2023 Sneak Peek

A look at the companies demoing at FinovateEurope in London on March 14. Register today and save your spot. Ender Turing has created the fastest-to-value AI-based speech analytics for financial services companies. The platform improves the quality of service, customer experience, and front-end employee experience. Features Includes AI analysis of calls, chats, and e-mails in near real-time in 24 languagesDelivers automatic alerts on every possible situation in communication with clientsProvides rich analytics on QM, CX, and EX Why it's great Ender Turing's platform brings financial services companies' contact centers from cost to profit via AI-analysis of customer communication and front-end employee AI-based coaching. Presenter Olena Losifova, CEOLosifova has been bringing new technologies to the financial services industry for over 17 years. In 2020, she co-founded Ender Turing with two AI researchers and was happy to continue delivering innovation.LinkedIn