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FinovateFall 2022 Sneak Peek: NYDIG

By Madeline Clines Posted on August 11, 2022
Categories: FinovateFall 2022, FinovateFall 2022 Sneak Peek, NYDIG

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

NYDIG delivers Bitcoin products across industries, from banking and insurance to fintech and nonprofits. NYDIG fuses stringent regulatory standards with ironclad technology to make Bitcoin universal.

Features

NYDIG's Bitcoin Savings Plan:

Integrates directly with a company’s payroll services Allows an employee to seamlessly convert a portion of their paycheck to bitcoin Offers new cutting-edge benefits

Why it's great

For the BSP, there is little direct competition in the space. NYDIG's value proposition is that employees are offered an easy-to-use way to buy, sell, and hold bitcoin without having to pay high fees.

Presenter

Rahm McDaniel, Head of Banking Solutions
Rahm McDaniel is Head of Banking Solutions with NYDIG, partnering with banks and credit unions to serve their communities with innovative digital asset services, such as Bitcoin trading. Prior…

Meet The Masters: A Peek at the Top Keynotes for FinovateFall 2022

By David Penn Posted on August 10, 2022
Categories: FinovateFall 2022

With a little over a month to go before FinovateFall 2022 in New York City, our agenda for the autumn event is still being finalized. But there are a few highlights we can share with you this week to further whet your appetite for the fintech feast to come on September 12 through September 14. Today we'll take a look at the mastermind keynote speakers we have scheduled for FinovateFall, each of whom was selected for their unique understanding of what's driving innovation in financial technology today.

Day One will feature a Mastermind Keynote from Chris Cox, Chief Operating Officer of Apiture. Titled "Closing the Data Intelligence Gap", Cox's address will look at ways that financial institutions can better process and analyze available data while simultaneously (1) helping their businesses, (2) supporting their customers, and (3) maintaining regulatory compliance. Cox will examine ways that banks and credit unions can close…

Western Union Expands Partnership with Visa

By Julie Muhn (@julieschicktanz) Posted on August 10, 2022
Categories: Alumni News, Daily news, VISA, Western Union

Western Union is bolstering its partnership with Visa by expanding its integration with Visa Direct. Visa Direct is Visa's real-time money movement network. The expansion will bring Visa Direct to Western Union's U.S. clients, enabling them to send money in near-real-time to Visa debit cards in Colombia, El Salvador, Jamaica, Romania, and Thailand.

Money transfer firm Western Union is building on its partnership with Visa this week. The Colorado-based company is expanding its integration with Visa Direct, Visa’s real-time money movement network.

Under the agreement, the pair will bring Visa Direct to Western Union's U.S. clients, enabling them to send money in near-real-time to Visa debit cards in Colombia, El Salvador, Jamaica, Romania, and Thailand. Western Union and Visa first teamed up in 2019 to enable Western Union customers in more than 20 countries across Europe to send and/or receive funds directly to Visa debit card holders.

"Western Union and…

Jack Henry Acquires Payrailz for an Undisclosed Amount

By Julie Muhn (@julieschicktanz) Posted on August 9, 2022
Categories: Alumni News, Alumni profile, Jack Henry, Mergers & Acquisitions

Jack Henry Acquired payments-as-a-service startup Payrailz. Jack Henry anticipates the acquisition will enhance its payments-as-a-service strategy and offer its 8,000 clients the ability to enable embedded finance. Financial details were not disclosed.

Core banking provider Jack Henry & Associates has agreed to acquire digital payments startup Payrailz. Financial details of the acquisition, which is expected to close at the end of this month, have not been disclosed.

Jack Henry anticipates the acquisition will support banks and credit unions by enhancing its payments-as-a-service (PaaS) strategy and offering its 8,000 clients the ability to enable embedded finance. Jack Henry currently has a virtual payments hub that consolidates money transfer tools which support numerous payment channels and types. Payrailz's technology complements this hub by adding consumer and commercial bill pay; real-time person-to-person (P2P), account-to-account (A2A), business-to-customer (B2C) payments; and more.

"We are excited about the opportunity to add these next-generation solutions to our payments…

FinovateFall 2022 Sneak Peek: Finotta

By Madeline Clines Posted on August 9, 2022
Categories: Finotta, FinovateFall 2022, FinovateFall 2022 Sneak Peek

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Finotta is a provider of embedded fintech for digital banking. Finotta’s Personified platform is a combination of products that help financial institutions better meet the needs of their customers.

Features

Personalized financial guidance Predictive product recommendations Gamification

Why it's great

Finotta empowers its FI customers to deliver the right experience, service, or product at the right time to their users with a gamified Financial Health Level that helps improve their financial life.

Presenter

Parker Graham, Founder and CEO
Parker Graham serves as Founder and CEO of Finotta. Graham began his professional career in the NFL. After working at BOK, Graham founded Destiny Wealth in 2018 and pivoted to Finotta in 2020.
LinkedIn

FinovateFall 2022 Sneak Peek: ebankIT

By Madeline Clines Posted on August 9, 2022
Categories: ebankIT, FinovateFall 2022, FinovateFall 2022 Sneak Peek

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

ebankIT is an Omnichannel Banking Platform. This Finovate, ebankIT will demo new features, from crypto management to open banking, all while gathering user feedback.

Features

User Engagement Hub to transform FIs:

Knowledge based with in-app interactive demos of all features Ability for users to vote on new feature releases Features available through an early adopter program

Why it's great

It's all about agility and having financial institutions launch exceptional user experiences at a fast speed. ebankIT does it all through its Omnichannel Digital Banking Platform.

Presenters

Pete Atkinson, Vice President of Sales
Atkinson 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 has helped FIs to digitally transform.
…

FinovateFall 2022 Sneak Peek: autologic

By Madeline Clines Posted on August 9, 2022
Categories: autologic, FinovateFall 2022, FinovateFall 2022 Sneak Peek

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

autologic was founded in 2021 and lets non-technical people build highly complex logic to power automated decisioning and digital experiences across any division of a financial services organization.

Features

Build complex rules & calculations with no code at the cost of spinning up a server on Google Deploy into any application (custom or third party) that supports JSON in minutes

Why it's great

UNO (a mortgage broker) maintains pricing, underwriting, servicing, documentation and policy information for 20 lenders with 1 non-technical person.

Presenter

Vincent Turner, CEO
4x Founder, 2 exits across Australia and US. Built technology used by 90% of Australian banks. Founder of UNO Home Loans, #1 Online Mortgage Broker in Australia.
LinkedIn

FinovateFall 2022 Sneak Peek: Cable

By Madeline Clines Posted on August 9, 2022
Categories: Cable, FinovateFall 2022, FinovateFall 2022 Sneak Peek

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Cable was founded in 2020 to provide automated assurance of financial crime controls, enabling real-time, continuous monitoring for regulatory breaches and control failures across all of a business' accounts.

Features

Reduces remediation projects with real-time regulatory breach or control failure detection Automates and centralizes partner bank oversight of fintech partners Increases ROI of other compliance tools

Why it's great

Why manually test 100 accounts when you can automatically monitor 100%? Scale efficiently and compliantly with Cable by ensuring your controls’ effectiveness as you grow.

Presenter

Natasha Vernier, CEO
Before founding Cable, Vernier was Head of Financial Crime at Monzo Bank, one of the first UK fintechs to become FCA-authorized and regulated.
LinkedIn

Truework Raises $50 Million to Redesign the Credit System

By Julie Muhn (@julieschicktanz) Posted on August 9, 2022
Categories: Daily news, Funding

Truework has raised $50 million to bolster its income verification product. The Series C round brings Truework's total funding to $95 million. G Squared led the round, which the company plans to use to grow its business "through instant, accessible, and accurate consumer data."

Income and employment verification startup Truework is taking on an extra $50 million in capital today in a Series C round. When added to the $45 million in funding the California-based company has raised since it was founded in 2017, Truework's total funding now reaches $95 million.

The round was led by G Squared; with contributions from existing investors Sequoia, Activant, and Khosla Ventures; as well as new investors Indeed, Human Capital, and Four Rivers Group. "Support from these incredible teams inspire[s] us to keep building the future of financial identity, and is bolstered by our continued focus on promoting transparency and data ownership for consumers," the…

What to Keep Your Eye On in the Final 5 Months of 2022

By Julie Muhn (@julieschicktanz) Posted on August 8, 2022
Categories: Julie's Column, Thought Leadership

We're more than halfway through the year, and before you know it, we'll be publishing trends predictions for 2023. However, a lot can happen over the course of five months, so we've decided to examine what to look for and what you can expect in fintech between now and the new year.

Beginning the era of "neo super apps"

Over the past year, there has been much debate on whether or not the U.S. and Europe will ever have a super app. Plaid CEO Zach Perret takes a different angle on this. He is expecting "neo super apps" to rise in popularity.

"Within lending, brokerage, and banking, super apps will emerge, adding every bit of functionality within financial services. Over time, they’ll actually be able to add in things that are above and beyond financial services," said Perret in a Plaid report.

Accelerating M&A activity

It's no secret that…

Avalara Acquired by Vista Equity Partners for $8.4 Billion

By Julie Muhn (@julieschicktanz) Posted on August 8, 2022
Categories: Alumni News, Avalara, Daily news, Mergers & Acquisitions

Tax compliance firm Avalara has agreed to be acquired by Vista Equity Partners for $8.4 billion. Avalara has more than 30,000 customers in 95 countries. The transaction will take Avalara private, removing it from the New York Stock Exchange.

Avalara is starting the week with a big move. The tax compliance firm has agreed to be acquired by global investment firm Vista Equity Partners for $8.4 billion. Vista Equity Partners is acquiring Avalara at $93.50 per share, which represents a 27% premium of Avalara's closing share price on July 6, 2022.

Founded in 2004, Avalara helps its more than 30,000 customers in 95 countries comply with tax regulations. The Washington-based company offers compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. In addition to tax compliance, Avalara also helps companies secure business licenses and provides sales tax data analysis…

PayOps Innovator Infinicept Unveils New Embedded Finance Solution, Infiniport

By David Penn Posted on August 8, 2022
Categories: Daily news

Denver, Colorado-based PayOps innovator Infinicept unveiled its open payment operations solution, Infiniport. The new offering will support orchestration between multiple processing platforms, enabling businesses to "bring their own processor" (BYOP) to their payments operations. Infinicept secured $23 million in new funding this spring in a round co-led by SVB Financial Group and Piper Sandler Merchant Banking.

PayOps innovator company Infinicept launched its new open payment operations capability, Infiniport. The new offering gives customers the ability to interface with the processor or alternative payment rail of their choice, enabling companies using embedded payments to "bring their own processor" (BYOP) to their payments and business operations.

Infiniport will help support orchestration between processing platforms, which is essential for businesses that rely upon more than one payment processing relationship. The new offering from Infinicept means that companies will no longer be forced to choose between the cost and inflexibility of…