Nordigen to Provide Open Banking Data for Teenit

By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Nordigen

Nordigen has been selected by Teenit, an Amsterdam-based PFM tool, to provide open banking services. Nordigen will enable Teenit to securely connect to customers' bank accounts to source transaction and account balance information. "Open banking goes hand-in-hand with personal financial management tools as access to customer information enables PFMs to stay up-to-date with their suggestions and analytics," said Nordigen CEO and Co-Founder Rolands Mesters.

Personal financial management (PFM) tool Teenit has selected Nordigen for open banking. The Amsterdam-based PFM company will offer its users an aggregate view of their finances, complete with insights and analysis on their spending and saving habits.

By integrating with Nordigen's freemium offering, Teenit can securely connect to customers' bank accounts to source real-time data on their transactions and savings account balances. With open connectivity to its users' financial data, Teenit can better fulfill its mission of educating teenagers on money management.

"We wanted to serve…

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Inovatec Partners with Real-Time Risk Decisioning Specialist Provenir

By David Penn Posted on
Categories: Daily news

Provenir announced a new partnership with Inovatec Systems. The partnership will enable auto lenders on Inovatec's LOS platform to access Provenir's risk decisioning solutions Headquartered in New Jersey, Provenir has forged partnerships with TransUnion, Kueski, and Provu in recent months.

Real-time risk decisioning software company Provenir announced a new partner today. The Parsippany, New Jersey-based technology company has inked a deal with Canadian lending software firm Inovatec Systems that will give Inovatec's roster of automobile lenders new tools to improve the financing process.

"Inovatec's configurable loan origination and loan management solutions efficiently support third party solutions that improve the speed, reliability, and efficiency of the entire lending process," Inovatec Head of Business Development Bob Metodiev said. Courtesy of the new relationship, auto financing companies working with Inovatec will be able to leverage open APIs to access Provenir's AI-powered decisioning solutions - which are embedded into Inovatec's LOS platform. Combined with…

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Agora Data Receives $100 Million Credit Facility

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

Agora Data received a $100 million revolving credit facility from Credit Suisse. The company anticipates the funds will help it expand how it delivers capital to loan originators who offer in-house financing. The news comes just under a year after Agora Data unveiled its reducing rate line of credit.

Auto lending technology company Agora Data announced today it received $100 million in financing. The funds come in the form of a revolving credit facility from Credit Suisse.

Agora Data, which helps non-prime borrowers obtain credit, anticipates the funds will help it expand how it delivers capital to loan originators who offer in-house financing solutions. The company offers auto dealers competitive financing and tools such as AI and machine learning modeling. Ultimately, Agora Data helps lenders build loan portfolios with high predictability and improved performance when lending to non-prime customers.

The company also offers AgoraInsights, a product that helps dealers…

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CNote Raises $7.25 Million in Series A Funding Round to Help Boost ESG Investing

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

CNote closed $7.25 million in Series A funding. The round was led by American Family Insurance Institute for Corporate and Social Impact. The investment brings CNote's total funding to almost $15.5 million.

Investment platform CNote raised $7.25 million today in a round that boosted the company's total funds to almost $15.5 million.

The Series A round was led by American Family Insurance Institute for Corporate and Social Impact. Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Venture Partners, and other investors also contributed. 

The company plans to use the funds to advance its technology, expand its sales team, and deepen its network of community financial institutions.

CNote was founded in 2016 to close the wealth gap by enabling investors to invest in an economy that works for all populations, especially those in underserved communities. Using the CNote platform, corporations, institutions, and individuals can invest in fixed-income and time deposit products that…

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FinovateFall 2022: Three Takeaways from Finovate’s Biggest Show to Date

By David Penn Posted on
Categories: David's column, FinovateFall 2022

FinovateFall 2022 ended last week. If you were there, then thanks for helping make the conference our largest, and most well-attended yet.

And if you were not there, then we've got good news and better news for you. The good news is that we're sharing some of the mainstage highlights from FinovateFall 2022 below. The better news is that we're going to do it all over again next year -- so stay tuned!

You're Gonna Need a Bigger Boat

Whether the enabling force is a technology or a partnership, one big takeaway from the conversations on Day One of FinovateFall 2022 was this: it is critical for financial institutions to take advantage of the resources - technological and organizational - outside of their immediate purview in order to compete, grow, and thrive.

In the morning, with presentations from Apiture's Chris Cox and InterSystems' Joe Lichtenberg, the emphasis was on enabling…

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Novatti Group Turns to ThetaRay to Enhance AML Oversight of Global Payments

By David Penn Posted on
Categories: Alumni News, Daily news, ThetaRay

Novatti Group has partnered with transaction monitoring company ThetaRay. Novatti will deploy ThetaRay's SONAR technology to defend its global payments business from money laundering and other financial crime. A Finovate alum since 2015, ThetaRay has secured partnerships with companies ranging from Travelex Bank to fellow Finovate alum Payoneer.

Business payments enabler Novatti Group has partnered with AI-powered transaction monitoring specialist ThetaRay to defend its global payments operations against money laundering and other financial crimes. Novatti Group will deploy ThetaRay's SaaS-based SONAR technology, a solution that leverages AI to detect the earliest indications of money laundering activity. SONAR will monitor hundreds of thousands of transactions a year for Novatti Group, enabling the company to ensure that its processed transactions are fraud-free without sacrificing quality of service.

Group GM of Risk, Legal, and Compliance at Novatti Group Evangelia Pefkou said the company selected ThetaRay for both its efficient technology as well as…

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Congrats to the 2022 Finovate Awards Winners!

By Julie Muhn (@julieschicktanz) Posted on
Categories: Finovate Awards

The 2022 Finovate Awards winners have been unveiled! At a gala dinner and ceremony, we celebrated the 23 winners.

The evening kicked off with cocktails, followed by dinner and entertainment. Below are the winning companies and individuals in each category, listed in alphabetical order.

Drumroll please…

Best Alternative Investments Solution: CAIS Best Back-Office / Core-Service Solution: Maxwell Financial Labs Best BNPL Solution: Kueski Pay Best Consumer Lending Solution: Wisetack Best Customer Experience Solution: BTG Best Digital Bank: UOB TMRW Best Embedded Finance Solution: Grabango Best Enterprise Payments Solution: Airbase Best Financial Mobile App: UOB TMRW Best Fintech Accelerator/Incubator: BMO InnoV8 Best Fintech Partnership: TAB Bank and Bumped Best ID Management Solution: norbloc Best Insurtech Solution: Parametrix Best Mobile Payments Solution: Papara Best RegTech Solution: Socure Best SMB/SME Banking Solution: QuickFi Best Wealth Management Solution: Titan Excellence in Decentralized Finance: SoLo Funds Excellence in Financial Inclusion: Gusto Excellence in Sustainability: Oportun Executive…

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FinovateFall 2022 Best of Show Winners Announced

By David Penn Posted on
Categories: Best of Show, Debbie, FinovateFall 2022, Horizn, LemonadeLXP, Quilo, Stratyfy, Themis

With hundreds of ballots officially cast and carefully counted - here are the winners of Best of Show for FinovateFall 2022!

Debbie for its technology that leverages behavioral psychology and rewards to help users pay off 3x more debt and help lenders recession-proof members. Demo.

Horizn for its platform that helps financial institutions maximize the impact of digital and accelerate returns on digital investments with customers and employees. Demo.

LemonadeLXP for its digital growth platform that helps financial institutions and fintechs turn staff into digital experts and support digital customers. Demo.

Quilo for its technology that empowers lenders to digitally syndicate an individual personal loan at the time of underwriting, enabling them to provide more loans to more people. Demo.

Stratyfy for its technology that increases access to financial services by bringing true transparency and less risk to critical financial decisions that impact millions. Demo.

…

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Business Spending Tool Pleo Taps Yapily for Open Banking Payments

By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news

Small business spending solution Pleo and open banking provider Yapily have formed a partnership. Under the agreement, Pleo will leverage Yapily Payments to enable account-to-account payments for its small business clients. Pleo will begin rolling out the new service to its business clients in the Netherlands and France in the coming months.

Small business spending solution Pleo has teamed up with open banking provider Yapily this week.

Pleo is leveraging Yapily Payments, a tool that enables direct account-to-account payments. And because Yapily uses open banking, it does not use card rails, which ultimately cuts out middlemen and limits fees. Yapily covers 19 countries and has more than 1900 institutions integrated with its open banking infrastructure.

Pleo was founded in 2015 and enables small businesses to tackle invoices, issue reimbursements, give their employees payment cards for work-related expenses. The company's spending solution offers small businesses control over employee spend and…

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Credix Raises $11.3 Million for Decentralized Credit Marketplace

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

Decentralized credit platform Credix raised $11.25 million in funding. The Series A round was led by Motive Partners and ParaFi Capital and boosts Credix's total funding to $13.8 million. Credix will use the funds to enhance platform development, increase staff, and integrate with Web3 projects.

Decentralized credit platform Credix raked in $11.25 million today. The Belgium-based company's Series A funding round was led by Motive Partners and ParaFi Capital with contributions from Valor Capital, MGG Bayhawk Fund, Victory Park Capital, Circle Ventures, Fuse Capital, and Abra.

Credix will use the funds to boost platform development, increase staff, and integrate with Web3 projects.

The round follows Credix's December 2021 Seed round and brings the company's total funding to $13.8 million. Company CEO Thomas Bohner described the round as the "next major step" in bringing Credix's protocol and platform for credit investing to investors.

Credix launched last year to develop a…

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Intelligent Compliance Innovator Txtsmarter Secures Series A Funding and Appoints New CEO

By David Penn Posted on
Categories: Alumni News, Daily news, txtsmarter

Compliance communications surveillance service txtsmarter has raised Series A funding. The amount of the investment was not disclosed. The Silicon Valley, California-based company also announced a new CEO, Edward Green. Founded in 2014, txtsmarter demoed its technology at FinovateSpring earlier this year.

Private messaging communications surveillance service txtsmarter is sharing some big news. First, the Silicon Valley, California-based company has closed a Series A funding round led by North Carolina-based investment bank and financial services company, Carolina Financial Group. The amount of the investment was not disclosed.

Second, txtsmarter has appointed a new CEO, Edward Green, to lead the company in its next stage of growth. Formerly CEO of Ring Access and Basys Automation Systems, Green also has 26 years of direct venture capital experience. He replaces outgoing CEO Nuri Otus, who is no longer involved in the company's operations.

Speaking about the fundraising, Green pointed to growing demands…

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