Blog - Page 214 of 1290

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…

Digital Identity: Fintech’s Key to Unlocking Growth

By Charlie Burgess Posted on October 18, 2022
Categories: Experian, Finovate Webinar, Webinars

In the upcoming Finovate webinar with Experian, our panelists will explore the meaning of digital identity, and how fintechs can leverage identity-proofing strategies to position themselves for growth without diminishing security.

Crowdz Partners with GoCardless to Bring Open Banking to Small Business Financing

By David Penn Posted on October 18, 2022
Categories: Alumni News, Crowdz, Daily news

SME financing platform Crowdz has teamed up with London-based GoCardless. The partnership will enable Crowdz to leverage open banking to enhance its ability to provide small businesses with working capital. Headquartered in Campbell, California, and founded in 2015, Crowdz made its Finovate debut at FinovateEurope 2020 in Berlin.

Small business financing platform Crowdz has partnered with direct bank payments company GoCardless. The collaboration will enable the California-based fintech, which made its Finovate debut at FinovateEurope in Berlin in 2020, to leverage open banking to bring better financing options to SMEs.

"We're proud to have provided over $80 million in working capital to SMEs, but this is just the start," Crowdz CEO and co-founder Payson E. Johnston said. "With our global expansion plans and our target of providing 25,000 SMEs with over $1 billion in working capital by the end of 2023, we needed a partner that could offer the right…

Plaid Adds Enhanced Anti-Fraud Engine to its Identity Verification Solution

By David Penn Posted on October 17, 2022
Categories: Alumni News, Daily news, Plaid

Plaid added a new anti-fraud engine to its Plaid Identity Verification (IDV) solution. The addition leverages autofill to accelerate sign up and help reduce manual errors. The technology also assesses device behavior and the way users input their personally identifiable information (PII). Plaid announcement comes in the wake of news that the company is expanding in Europe.

Open banking innovator Plaid has added a new anti-fraud engine to its identity verification solution, Plaid Identity Verification (IDV). The anti-fraud engine supports a faster verification process to boost both conversions and signups. The new addition also assesses behavioral risk to better defend against emerging threats and strategies from fraudster and financial criminals.

The new tool comes months after Plaid launched its identity verification solution, and is the product of Plaid's work with "hundreds of digital finance companies" in industries ranging from crypto and neo-lending to proptech and banking. Not only did Plaid's…

FutureTech Friday: Mastercard Approves Quantum Resistant Contactless Cards

By David Penn Posted on October 14, 2022
Categories: Alumni News, Daily news, MasterCard

Although not getting as much attention these days as the metaverse or Web3, the potential impact of quantum computing in financial services certainly has the attention of the industry's biggest players. This week, Mastercard approved the first cards for issuers that meet EMVCo contactless specifications to protect cardholders from attacks from quantum computers as well as traditional computers.

"Technology has the potential to open new opportunities for both consumers and fraudsters," President of Cyber & Intelligence at Mastercard Ajay Bhalla said. "That's why future-proofing security is critical."

Quantum computing involves leveraging the capacities of quantum physics to solve certain computational problems faster than traditional computers. Much of the buzz over quantum computing is related to the purported ability of quantum computing to defy even the most rigorous encryption protocols. And while some of these concerns may have been overblown, at least in the short term, the ability of quantum computers…

NorthOne Raises $67 Million to Become the Digital Finance Department for Small Businesses

By Julie Muhn (@julieschicktanz) Posted on October 14, 2022
Categories: Daily news, Funding

Small business banking tools company NorthOne pulled in $67 million in funding this week. The Series B round increases the company's total raised to more than $90 million. NorthOne has big ambitions, and is seeking to be "the digital finance department powering every small business in America."

Small business banking tools company NorthOne landed $67 million in a Series B funding round this week. The investment boosts the New York-based company's total funds to more than $90 million.

New and existing investors, including Battery Ventures, Don Griffith, Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent, and Tom Williams, participated in the round.

NorthOne was founded in 2016 to offer small businesses an approachable digital banking experience. The company said that the funds will enable it to raise the standard of products and services that business owners should expect from their banking partners.

"Through an…

Six Minutes with Inspired Capital Founder Alexa Von Tobel

By Julie Muhn (@julieschicktanz) Posted on October 13, 2022
Categories: Speaker series, Women in Fintech

If you had 6 minutes to talk with Alexa Von Tobel about all things fintech, what questions would you ask?

For those new to the fintech industry, let me fill you in. Alexa is the Founder and Managing Partner of Inspired Capital and was the Founder and CEO of LearnVest, a wealth management platform she sold to Northwestern Mutual for $250 million in 2018. She is also the author of Financially Fearless and Financially Forward. All this is to say, Von Tobel is a long-standing expert in the fintech industry.

I was fortunate enough to have the opportunity to chat with Von Tobel at FinovateFall last month. Here are some of the highlights of our conversation.

Dealflow in fintech has changed a lot this year. When I asked Von Tobel what we can expect moving forward, she said that the fintech industry is full of dry powder. She said…