Blog - Page 213 of 1289

PayPal Offers Passkey Authentication to Apple Users and Venmo Payments to Amazon Shoppers

By David Penn Posted on October 25, 2022
Categories: Alumni News, Daily news, PayPal, Venmo

PayPal will enable Apple users to log in to their accounts with passkeys rather than passwords. PayPal also announced that Amazon had authorized Venmo as a payment option. PayPal made its Finovate debut more than a decade ago at FinovateSpring 2011.

Two days in and it's already been a pretty good week for PayPal.

On Monday, the payments innovator announced that it had teamed up with Apple. The partnership will enable Apple users to log in to their accounts using a passkey rather than a password. Developed by the FIDO Alliance and the World Wide Web Consortium - along with Apple, Google, and Microsoft - passkeys use cryptographic key pairs. These key pairs consist of a public key that is stored in the cloud and a private key that is stored on the users' device.

This authentication method has a number of advantages. The fact that the keys are…

Marqeta Launches Suite of Banking Products

By Julie Muhn (@julieschicktanz) Posted on October 25, 2022
Categories: Alumni News, Daily news, Marqeta

Card issuance company Marqeta is launching a suite of banking products for its clients to offer their end customers. Marqeta for Banking is comprised of seven banking products made available through Marqeta's banking partners. The new tools include Demand Deposit Accounts, Direct Deposit with Early Pay, ACH with Plaid Integration, Cash Loads, and Fee-Free ATMs, which are now available to Marqeta's U.S. customers. Bill Pay and Instant Funding will be available in beta early next year.

Marqeta announced today that it is expanding further into the banking world beyond card issuance. The California-based company unveiled a suite of seven banking products through what it's calling Marqeta for Banking.

Marqeta for Banking offers the company's businesses customers access to more than 40 banking APIs that enable them to create customized banking services. The capabilities are made available through Marqeta's banking partners and include Demand Deposit Accounts…

SKU Data Network Company Banyan Secures $43 Million in Series A Funding

By David Penn Posted on October 25, 2022
Categories: Alumni News, Alumni profile, BANYAN, Daily news, Funding

SKU data network company Banyan raised $43 million in Series A funding. The round consisted of $28 million in equity and $15 million in venture debt, and gives the company a total of $53 million in equity funding. Banyan made its Finovate debut at FinovateFall 2021 in New York, and returned to the Finovate stage this year for FinovateSpring in San Francisco.

In a round led by Fin Capital and M13, SKU data network company Banyan has raised $43 million in funding. The Series A round includes $28 million in equity and $15 million in venture debt, taking the total equity capital raised by Banyan to $53 million. In addition to Fin Capital and M13, the round featured participation from FIS Impact Ventures, Bridge Bank, Interplay, and TTV Capital.

The financing will be used to help accelerate Banyan's technology and infrastructure growth. Banyan enables retailers and financial institutions to leverage…

The Conversation Continues: Greg Palmer and the Finovate Podcast with FV Bank, Daylight, Microsoft and More!

By David Penn Posted on October 24, 2022
Categories: David's column, Podcasting

In addition to hosting the biggest FinovateFall to date, Finovate VP Greg Palmer has spent the month of September talking with some of the most interesting achievers in fintech. From CEOs of digital banks to entrepreneurs working to bring about greater financial inclusion, Greg Palmer's Finovate Podcast is a great way to meet the people who are driving innovation in our industry.

Below is a rundown of recent episodes from late August through September.

Find the Finovate podcast at Soundcloud and follow Greg Palmer on Twitter for the latest in programming news and updates.

Miles Paschini, Chief Executive Officer, FV Bank

Finovate Podcast host Greg Palmer sits down with Miles Paschini to discuss FV Bank's mission to serve fintechs and bring new technologies to the mainstream. Episode 147.

"The regulated segment of the industry was not matching up to the creator side of the industry ... FV stands…

Digital Bank Nerve’s New Strategic Partnership Comes with Up to $7 Million in New Funds

By Julie Muhn (@julieschicktanz) Posted on October 24, 2022
Categories: Daily news, Funding

Digital bank for creatives, Nerve, is partnering with London-based Talenthouse, a firm that helps artists find work with global brands. Talenthouse's money management platform, TalentPlus, will leverage Nerve's embedded banking technology to expand into the U.S. To facilitate TalentPlus' U.S. launch, Talenthouse will invest up to $7 million in cash and shares in Nerve.

Digital bank Nerve is furthering its reach this month via a partnership with Talenthouse, a London-based firm that helps creatives find work with global brands. Under the agreement, Talenthouse will leverage Nerve to launch a business banking solution for TalentPlus, its in-house financial app built for creators.

As part of the deal, Talenthouse will invest up to $7 million in cash and shares in Nerve. This partnership and investment will help Talenthouse launch TalentPlus in the U.S. next month and expand into the U.K. and Latin America in 2023.

"This is a significant step into the U.S. market…

Mitek Launches Biometric ID Technology Combining Face and Voice Authentication

By David Penn Posted on October 24, 2022
Categories: Alumni News, Daily news, Mitek

Mitek launched its new biometric authentication solution, MiPass, that leverages both voice and facial recognition. The new technology provides advantages over both passwords and solutions that rely on on-device stored biometrics. Mitek's MiPass can be deployed in a range of use cases ranging from simple password resets to high-value transactions.

Could the end of passwords finally be at hand?

Identity verification innovator Mitek has launched a new solution designed to enable individuals to access digital accounts easily and securely by leveraging facial and voice recognition technology together. MiPass, unveiled today, offers a passwordless identity authentication solution that only requires a selfie and a recorded phrase to provide a level of convenience and security greater than that provided by authentication solutions based on face- or voice-recognition alone.

"MiPass provides the highest level of digital security available today," Mitek CTO Steve Ritter said. "MiPass combines voice and face recognition using…

Transparency, Governance, and Credit Scoring: A Conversation with VantageScore’s Rikard Bandebo

By David Penn Posted on October 20, 2022
Categories: Interview, Speaker series

We are all familiar with the challenge businesses have when it comes to new customers. On the one hand, there is an urge to onboard as many new customers as possible. On the other hand, great care must be taken to block bad actors or, in the case of the lending business, to avoid borrowers who are unlikely to repay their loans.

To help companies manage this tug-of-war, innovators in the credit scoring space have developed new strategies for determining credit-worthiness. These new approaches have moved beyond traditional credit scoring to help lenders reach reliable borrowers who may have thin credit histories - or even no significant, traditional credit history at all.

VantageScore is one such innovator. This year at FinovateFall, we caught up with Rikard Bandebo, VantageScore Executive Vice President and Chief Product Officer to talk about the company's approach to credit scoring, how it differs from traditional credit…

Envestnet Goes Live with its Wealth Data Platform Powered by Snowflake

By David Penn Posted on October 20, 2022
Categories: Alumni News, Daily news, Envestnet

Envestnet launched its Wealth Data Platform this week. Powered by Snowflake, Envestnet's enhanced platform gives financial advisors a more comprehensive view of clients' finances Envestnet made its Finovate debut in 2016 at FinovateEurope, one year after acquiring Yodlee for $660 million.

With the launch of its Wealth Data Platform this week, Envestnet has enhanced its data and analytics business by providing financial advisors with the ability to connect and enrich data - as well as give clients actionable data at scale - via a single platform. The new offering is powered by data cloud company Snowflake, and will enable Envestnet customers to benefit from a more holistic, comprehensive view of their clients' financial information.

"Our Wealth Data Platform solves the very real challenge wealth advisors face in connecting, analyzing, and deriving insights from their clients' various data sources," Envestnet Data and Analytics Group President Farouk Ferchichi said. "And we know…

N26 Taps Bitpanda to Add In-App Crypto Trading

By Julie Muhn (@julieschicktanz) Posted on October 20, 2022
Categories: Daily news

Challenger bank N26 is launching N26 Crypto, an in-app cryptocurrency trading tool. The company is partnering with Bitpanda for trading and custody of the 194 cryptocurrencies that will be available on its platform by the end of the year. N26 Crypto is launching today in Austria and will be available in more countries in the next six months.

In what N26 is calling the company's "next step beyond banking," the Germany-based digital bank is unveiling N26 Crypto, an in-app cryptocurrency trading tool. Launching today in Austria, eligible clients can buy and sell 100 cryptocurrencies using the N26 app.

"The N26 banking experience has always been built around the customers’ needs, with features that make money management easy," said N26 Chief Product Officer Gilles BianRosa. "With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and…

Amazon Launches Insurance Store in the U.K.

By Julie Muhn (@julieschicktanz) Posted on October 19, 2022
Categories: Daily news

Amazon is launching an online insurance marketplace in the U.K. The company is partnering with Ageas UK, Co-op, and LV= General Insurance to offer the Amazon Insurance Store, a new tool to help U.K. customers shop for home insurance. The Amazon Insurance Store is now available to "select customers" and will be available to all U.K. customers by the end of the year.

The fintech industry loves to talk about Amazon's weight as a competitor in the financial world. This week, the online retail giant is offering more points to that discussion with the launch of an online insurance comparison website for the U.K. market.

The Amazon Insurance Store serves as a way for U.K. customers to shop for home insurance by helping consumers compare quotes, select a plan, and pay for it using a checkout experience integrated with Amazon.co.uk. The element Amazon is seeking to differentiate its service…

Global Processing Services Turns to Featurespace for Enhanced Real-Time Fraud Protection

By David Penn Posted on October 19, 2022
Categories: Alumni News, Daily news, Featurespace

Global Processing Services (GPS) has partnered with Featurespace to launch a new issuer processing fraud mitigation solution. The new offering, GPS Fraud Advantage, will leverage Featurespace's ARIC Risk Hub to provide real-time fraud threat protection. Featurespace made its Finovate debut at FinovateEurope in 2016. The Cambridge, U.K.-based company was founded in 2008.

Global Processing Services (GPS) announced a partnership with Finovate alum Featurespace to create a new issuer processing fraud mitigation solution. GPS will integrate Featurespace's ARIC Risk Hub into its suite of fraud and risk management services.

The new solution will manage fraud threats in real-time, boosting fraud detection rates by more than 70%, and reducing false positives by 80%. Named GPS Fraud Advantage and powered by Featurespace, the technology is expected to go live in mid-2023. The new offering will benefit from the expansion of GPS' Fraud Prevention Team, providing comprehensive monitoring and management of fraud alerts throughout…