This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Consumer insights company Equifax is partnering with U.K.-based Credit Ladder, a rent reporting service.
Under the partnership, Equifax will leverage data from Credit Ladder to help tenants who pay their rent on time access fairer credit rates. This data is especially important in the U.K., where 29% of residents rent their residences. Of those, many have a limited borrowing history that results in thin credit files. This typically underserved group ultimately finds it difficult to gain access to reasonable rates for credit cards and loans.
“The inclusion of rental data in credit assessments is a huge lift to improve financial inclusion and fairer access to the right financial products. This data insight provides lenders with a much more reflective picture of the amount renters can afford to borrow,” said Janice Rudd, Data Director at Equifax. “Renters who make full and timely monthly payments should see a significant benefit in proving their ability to repay a commitment, just like mortgage payers. We’re pleased to work with CreditLadder to unlock better financial outcomes for consumers and lenders alike.”
CreditLadder was founded in 2016 and currently has “thousands” of tenants reporting their rental payment history on its platform. CEO Sheraz Dar said that the company’s mission is to “deliver financial fairness” to users and help them access credit when they are ready. “Working with Equifax to add tenants’ payment track records to their reports is a major enhancement for our users, and for our platform,” Dar said.
CreditLadder, which is also partnered with credit reporting agency Experian, provides its rent reporting services for free for both landlords and tenants. The company also offers a paid product, CreditLadder Plus that comes with mobile phone insurance and discounts at retailers including Argos, Caffe Nero, and Tesco. CreditLadder Plus costs users around $11.50 (£8.99) per month or $102 (£79) per year.
The news that Jassby, a PFM app for kids, has raised $5 million in new funding is one small step for savings solutions and one giant leap for financial education.
The Family Finance App, which has more than 100,000 users, enables kids to receive money from parents and grandparents, which they can then save, spend, or donate in a safe, supervised “Walled Garden”-style, digital platform. Jassby notes that the combination of a digital wallet and a shopping tool – along with parental participation – will help kids learn responsible financial habits by connecting what they have to what they want. This can be a more effective way of learning than simply studying lessons on smart financial habits and then taking tests and quizzes to see if the material is truly understood and absorbed.
Benjamin Nachman, Jassby CEO, called the promotion of financial literacy “one of our core values.” He added “we have built a cutting-edge system that allows us to partner with schools, sports clubs, and businesses to create a full ecosystem for our users.”
“Jassby has created a holistic digital financial ecosystem for kids, teens and their parents,” Moneta Managing Partner Adoram Gaash said. “(Jassby) deals with the real issue of financial illiteracy, and lets kids use financial services in a very smart way.” The app is currently available as a downloadable iOS solution, as well as a web app.
The round, which takes Jassby’s total capital to $10 million, featured participation from Needham Bank and Moneta Capital, as well as Blumberg Capital, Correlation VC and PnP Ventures. The company said the funding will help speed development and take the app to one million users within a year. Nachman added that the company also plans on raising an additional $20 million later this year to help reach that goal.
Jassby is headquartered in Waltham, Massachusetts, and was founded in 2018. Last fall, the company announced a partnership with Needham Bank to enable banking services for users of its family financial app. The fintech has also teamed up with Boston Siege Football club, signing on the semi-pro soccer club as a corporate sponsor. Boston Siege began wearing Jassby’s logo on its kits and training gear last year. The two organizations are planning on a project involving the club’s payment and revenue infrastructure in 2020.
Chinese conglomerate Ant Financial has purchased a minority stake in Sweden’s e-commerce payments innovator Klarna. The terms of the investment were not disclosed, but the company said that the funding amounts to a 1% stake in Klarna. The most recent assessment of Klarna, based on a $460 million funding round in 2019, puts the company’s valuation at $5.5 billion.
“Alipay, and the wider Alibaba Group, have truly set the global pace on retail innovation and the app economy,” Klarna CEO Sebastian Siemiatkowski said. “We are delighted in this confidence shown in Klarna in defining the future of payments and shopping and are very much looking forward to working together further in the future.”
The investment comes as a tonic in the wake of Klarna’s first annual loss of $113 million in 2019. It also represents a deepening of the partnership between the two firms that will make more of Klarna’s buy now pay later solutions available to consumers and merchants in the Alibaba ecosystem. This includes more integration between Klarna and Alibaba’s Alipay which, via AliExpress, Alibaba’s retail online marketplace, leverages Klarna’s e-commerce solution.
“At the heart of this cooperation between Klarna and Alipay is a shared ambition of innovating truly superior shopping experiences and creating destinations of inspiration for consumers across the world,” Siemiatkowski said.
More than 200,000 merchants and e-commerce platforms around the world are powered by Klarna technology. The company’s partners include IKEA, Adidas, Spotify, and Expedia Group, among many others, and in 2019 alone, Klarna added more than 75,000 new merchants to its platform. Founded in 2005 and a Finovate alum since its debut at FinovateSpring in 2012, Klarna has 2,700+ employees and is live in 17 countries. Late last month, the company announced that Klarna had reached the seven million customer milestone and 1.6 million app downloads.
The number of women in technology in general, and fintech in specific, is growing. That’s the good news.
As Julie Bort and Rachel Sandler wrote in their 2018 feature on female engineers for Business Insider, “for all the arm waving about the lack of women in STEM professions, the truth is, there are some powerful role-model female engineers having fabulous careers and creating tech used by millions, if not billions of people everyday.”
A report from consulting firm Korn Ferry supports this. The study, conducted last year and looking at the top 1,000 U.S. companies by revenue, noted an increase of 2% in the number of women who held the role of CIO or CTO last year. “The industry with the highest percentage of women CIOs/CTOs,” the report noted “is financial at 25%.”
By comparison, the number of women fulfilling the role of Chief Technology Officer within the tech industry remains fewer, maybe even far fewer, than you might suspect. By industry, Korn Ferry ranked technology behind financial, healthcare, retail, and consumer, besting only the services industry.
Women like Padmasree Warrior, who served as Cisco Systems’ CTO between 2007 and 2015 and, before that, as CTO for Motorola for four years, have been among the relatively few women at the top tier of technology leadership – especially at the largest tech companies. Elissa Murphy, at GoDaddy, Selina Tobaccowala at SurveyMonkey, and Raji Arasu at StubHub are just a few of the female CTOs in charge of technology at some of our economy’s newer, most innovative companies.
Pamela Rice, former SVP of Technology at OnDeck and current CTO of Earnest, during her presentation at FinDEVr Silicon Valley.
Turning to fintech – and our own experience at Finovate – a woman like Pamela Rice comes to mind. The former Senior Vice President of Technology at OnDeck who represented the company at our developers conference FinDEVr, Rice is currently Chief Technology Officer for Earnest. The San Francisco, California-based company she joined in 2019 provides consumer financing options for underbanked populations including recent college graduates. Last summer, she participated in a company-hosted, Tech Meet-Up on Diversity and Inclusion, sharing her thoughts on the value of making diversity “part of the DNA of everything you do.”
We took a look at how the fintech industry was faring in terms of female representation at the CTO level. There is still a great deal of progress to be made. Here is a sample of the women who are increasingly providing technical leadership for fintechs large and small.
Marianna Tessel – Intuit – With more than 20 years experience as a VP of Engineering for companies like Ariba, Docker, and VMWare, Tessel took the helm as Intuit’s Chief Technology Officer in January 2019.
Educated at Technion – Israel Institute of Technology and the Weizmann Institute of Science – and having served as a captain in the Israeli Army – Tessel was praised by new Intuit CEO Sasan Goodarzi as a “transformational change agent” who has created “an engineering culture that has accelerated innovation.”
At Intuit, Tessel is responsible for leading the company’s product engineering, data science, information technology, and information security teams around the world. She first joined Intuit in 2017, leading product development for the firm’s Small Business and Self-Employed Group, including the company’s QuickBooks product family.
Rija Javed – MarketFinance (formerly MarketInvoice) – After more than four years as an engineer for Wealthfront, including roles as Director and Senior Director, Javed joined U.K.-based MarketFinance as the company’s Chief Technology Officer in 2018. This made her one of the first female fintech CTOs in the country.
“Having Rija on board underlines our focus on hiring the best talent and building innovative technology to deliver business finance solutions,” MarketFinance CEO and Co-founder Anil Stocker said. “It’s the foundation we’ll use to help thousands of business(es) access funding quickly and easily.”
While at the Wealthfront, Javed built the company’s first mobile app. Transitioning to the company’s investment products platform, she helped scale Wealthfront’s offerings including the development of a new brokerage and banking platform. With degrees in Electrical and Computer Engineering from the University of Toronto, Javed is also a mentor for the New York Academy of Sciences.
Ekate Kuznetsova – Token Transit – Sometimes the only way for a woman to make sure that there’s a woman’s place at the tech table is to build the table herself. That’s the approach of Kuznetsova, who parlayed her experience in software engineering at Akamai and Google into launching a fintech startup of her own. Token Transit, for which Kuznetsova is founder, CEO, and Chief Technology Officer, provides mobile ticketing and payment verification solutions for public transportation.
Launched in 2016 and available in more than 75 cities in the U.S. and Canada, Token Transit enables people to pay for fares and passes with their credit, debit, or commuter benefits card and provides them with a digital ticket that is stored on their smartphone.
Kuznetsova earned her Bachelor of Science degree from Massachusetts Institute of Technology, where she studied Mathematics and Computer Science.
While the ranks of female CTOs in fintech remains modest, it should be mentioned that there are women – from VPs of Engineering to Chief Scientists – who are not only currently leading tech teams, but also are likely among the CTOs of tomorrow. For a peek at one shortlist, check out Angie Chang’s spotlight on 21 female executives who could become one of the Fortune 100’s next CTOs.
Know a woman who’s driving technology innovation at one of your favorite fintechs? Send us a note at [email protected]!
Investment research firm Morningstar announced today it has agreed to acquire PlanPlus Global, a Canada-based financial planning software firm that was founded in 1990.
The Chicago-based company is eyeing PlanPlus Global not only for its financial planning and risk profiling software but also for its geographic location. Morningstar, which just months ago agreed to buy Australia-based AdviserLogic, has been seeking to expand its financial planning services to advisors across the globe.
Morningstar Canada President and CEO Scott Mackenzie said, “This is an investment for growth in the financial-planning arena, and we look forward to the rich expertise and long-standing relationships PlanPlus Global employees will bring to the Morningstar family.”
Morningstar will offer PlanPlus Global’s FinaMetrica Profiler as a standalone product but will also integrate it into its existing solutions, including Morningstar Advisor Workstation and Morningstar Enterprise Components. Morningstar will also use PlanPlus Global’s financial-planning solution, ProPlanner, to bolster its current offerings in Canada.
“When it comes to finding a large, strategic fintech partner that can help us scale our solutions in the marketplace and enhance the value to our users globally, Morningstar is the perfect fit,” said Shawn Brayman, founder and CEO of PlanPlus Global. Brayman and his team of 40 employees will join Morningstar’s workforce of 5,230.
Terms of the deal, which is expected to close next quarter, were not disclosed.
Fintech innovation is growing at an exponential rate and the need for financial institutions to embrace digital transformation has never been more urgent. We are at the beginning of a new S curve; just as the smartphone began to transform financial services in 2007, we now face unprecedented change driven by artificial intelligence, 5G and quantum computing.
In Berlin in February, FinovateEurope brought together 140+ expert speakers; 50+ cutting-edge demoing companies and 1,000+ attendees to explore the road to success in a brave new digital world.
The first day got off to a rousing start with a keynote address from Steven van Belleghem, author of Customers The Day After Tomorrow. His key message? The number one resource that we are all short of is time; the companies that save customers time are really solving a problem for them. The tech giants are excelling at this – how can financial institutions emulate their approach? If they don’t address real customer pain-points they risk losing them to new competitors.
In a new initiative for 2020 we then offered the audience the choice of five industry stages to attend – Digital Future, Open Banking Future, Future Tech, Future Payments, and Future Insurance. Themes that cropped up repeatedly across all five stages were the critical importance of the customer experience, the ability to effectively leverage data, and the need to embrace new technologies for real business reasons– not just for window dressing.
Two days of over 50 live demos followed, once again putting innovation front-and-center on the stage. Our unique demo model showcased the most transformative solutions currently being created across the whole fintech value chain and gave the audience the chance to speak to the innovators behind the most exciting tech in finance.
Across the whole event we covered a myriad of topics – from digital journeys to customer experience, open banking to payments, challenger banks to insurtech, digital identity to financial crime, AI to blockchain – and we launched three new initiatives.
Our Start-up Booster program was a huge hit with startups seeking expert advice around funding, scaling, and partnerships.
The Executive Reboot program allowed C-suite executives to brainstorm how to address their legacy culture and find a path to change with our keynote speakers.
And our Women in Fintech program brought together a highly engaged audience to explore the critical need for of diversity in financial services.
It was a jam-packed three days and the feedback was amazing – we look forward to returning to Berlin for more next year.
-Katie Gwynn-Williams, FinovateEurope 2020 Director
Neo was founded in 2017 with a vision, as described by CEO Laurent Descout, “to create a platform that can replace the old fashioned banking platform. A true ‘one-stop shop’ that offers all the financial products a corporate client needs to operate in a global environment.”
The Spain-based company demoed its business account platform at FinovateEurope. At the event Descout, along with the company’s Chief Product Officer Emmanuel Anton, showcased how Neo offers a single place where businesses can manage their collections and payments across 30 currencies.
Neo also showed the audience (check out the video below) its FX hedging engine that enables businesses to hedge their FX risk over 90 currencies. The company offers a range of FX instruments, such as forwards, swaps, and options, as well as pre-designed hedging strategies.
Last July Neo received authorization from the Bank of Spain to become a PSD2-compliant payment institution. The new license will enable Neo to offer multicurrency business accounts, allowing companies to pay, store, and receive 25 different currencies. Among those are exotic currencies such as CNY, SAR, MXN, and TRY. Neo reports that it will add 15 currencies to the list soon.
The new banking license converts Neo’s website into a gateway of business-focused services. In addition to Neo’s flagship FX hedging solutions and the new multicurrency payments and collections tools, users have access to treasury management tools that allow clients to reduce costs and digitize their treasury department. Porting their treasury management tools to a digital environment allows businesses to automate tasks and reduce the human errors that result from manual input.
Neo has also made other recent developments, as well. The company has added new liquidity providers in its liquidity pool to offer users better prices. It also started offering hedging maturities up to 24 months and began offering currency deposits for clients holding USD, GBP, and PLN. Additionally, Neo landed a partnership with BPIFrance to build an FX offering for exporters.
Neo has raised $5.4 million since it was founded in 2016. The company’s founders include Emmanuel Anton, Ian Yates, Laurent Descout, and Nuria Molet.
Financial institutions leveraging Visa APIs can now enable voice-first digital banking technology from Clinc. Courtesy of a newly-announced partnership between Visa and the conversational AI innovator, customers of participating banks and credit unions will be able conduct a wide variety of banking operations by communicating directly with their bank accounts using natural, conversational language. No special keywords, phrases, or scripted questions.
“Our goal has always remained the same – to create technology that makes people’s lives easier,” Clinc co-founder and interim co-CEO Lingjia Tang explained. “Partnering with a leader like Visa is a milestone for Clinc, and this API integration is going to offer small and mid-size banks a similar experience that some of the largest banks in the world are using.”
The collaboration will allow digital banking customers to check balances, transactions, and spending history; pay bills and transfer money; as well as perform financial management functions such as creating payment plans, checking rewards programs, and disputing transactions. Customers will also be able to conduct a wide variety of card management operations ranging from turning cards on and off, reporting and reissuing lost or stolen cards, and activating new cards – all using their natural voice in a conversational way.
“This is the kind of capability and cutting-edge AI wouldn’t be otherwise be accessible without Visa, ” Tang added.
Clinc’s partnership with Visa is the latest example of how the Ann Arbor, Michigan-based company is helping banks enhance the customer experience. Founded in 2015 and making its Best of Show-winning Finovate debut a year later at FinovateFall, Clinc teamed up with Singapore’s OCBC Bank last year, helping the bank launch its voice-enabled mobile banking assistant. The company has also partnered with Turkish bank Isbank, powering one of the most widely-deployed mobile banking voice assistants, with more than six million users.
Clinc has raised $60 million in funding. The company picked up the lion’s share of that amount last spring in a $52 million Series B round.
Odds are, if you work in fintech, you know what open banking is. It is such a popular concept that in Europe an entire regulatory regime, PSD2, has sprung up around the concept.
So if Europe is progressive enough to create regulations mandating open banking, how is the U.S. doing? It turns out that some banks in the U.S. are taking an opposite approach and preventing third parties from accessing consumer data.
Keeping it secure
The motive behind this move is pure: banks are closing down connections to third party apps to keep customer information secure and limit data breaches. Data retrieval methods such as screen scraping or using the customer’s password to gain access are indeed unsafe. We spoke with Chief Growth Officer and Co-founder of Flybits, Gerti Dervishi, who said this type of data sharing is “risky in so many different ways” since data scraping is not a standard protocol. Regarding recent decisions of U.S.-based banks who are gating off third parties, Dervishi said, “Honestly, this couldn’t go on for much longer.”
First-movers
JP Morgan Chase recently came up with a new access plan for third party fintechs that require access to customer data. The aim of this new plan is to stop third parties from using password-based access to retrieve customer banking data. Starting July 30, fintechs will be barred from pulling customer information until they sign data access agreements and stop using customer passwords to retrieve banking information. Instead, JPM wants third parties to connect to consumers’ accounts via its open API. The bank made it clear that not only is this method more secure, it will also place consumers in control of what data they want other applications to access.
PNC Financial is also cracking down on third party data access, but is leaving third parties with fewer options. Explaining the decision to the Wall Street Journal, PNC Chief Customer Officer Karen Larrimer said, “When aggregators access account numbers, many store them indefinitely, often unbeknownst to customers. This puts customers and their money at risk. We want to make sure we know who is setting up the account.”
As part of the move, Pittsburgh-based PNC is preventing customers from using P2P money transfer app Venmo and has blocked “multiple different aggregators,” including Plaid, which PNC states circumvented its security protocol. Plaid, a popular data transfer network, connects consumer information to other third party apps such as Square’s Cash app, Robinhood, and Digit.
Who owns the data?
But shouldn’t the consumer be able to decide if they want a third party to use their data? This became a major issue when PNC began directing users from PayPal’s P2P payment app Venmo to Zelle, the bank’s in-house P2P money transfer tool. This is because, as Dervishi said, “There is already an agreement in place with Zelle. [PNC] understands data sharing with Zelle, but they don’t have a standardized agreement with Plaid.”
When it comes to the issue of data ownership, Dervishi circled back to the need for standardization. Because PNC does not have a clear agreement in place with third parties, there is nothing to hold them accountable when it comes to how they use or store customer data. “We need a NAFTA for data,” he said.
So though it may seem as if both of these U.S. players are taking a “closed banking” approach, that statement isn’t exactly correct. Both banks offer open APIs. The difference is that PNC has shut out Plaid (and, in turn, the many third party apps that use Plaid) to head off security issues. JPM (and potentially others) may not be far behind. As Ron Shevlin pointed out in his piece The Real Story Behind the PNC Venmo Clash, “[JPM will] be watching what happens with PNC, for sure. If PNC sees limited account attrition, other Zelle banks will be likely to follow.”
At the end of the day, the only thing to prevent banks in the U.S. from taking a “closed banking” approach may be to follow in the footsteps of the European Union and create a PSD2-like, standardized regulation for data sharing. “Because each bank takes a different approach to third party data access,” Dervishi said, “until we have a well-understood framework like open banking and PSD2, we will have a thousand different methods [to access data].”
Digital financial services company Wirecard is partnering with Xolo (formerly LeapIN) this week to offer a more robust set of banking services for gig economy entrepreneurs.
Under the agreement, Xolo, a platform that helps entrepreneurs launch and run micro-businesses, will bolster the banking and accounting tools on its existing platform. The company will leverage Wirecard’s banking license to allow its 30,000 users to open a business bank account online within 48 hours, receive a debit card, and monitor their banking, tax, and compliance activity.
The move targets gig economy workers, an underserved segment of the population that is growing at 17% per year with an estimated value of $204 billion in 2018.
“This new partnership marks a significant step for Xolo as we strive to establish a new virtual nation for freelancers and solopreneurs,” said Allan Martinson, Xolo CEO. “With the addition of Wirecard’s pioneering digital banking solution, we will continue to build out our vision for enabling millions of micro-businesses to get to market quicker and without the bureaucracy.”
Xolo’s news follows a recent announcement last month from U.K.-based Wollit, which raised funding for its platform that helps gig economy workers smooth out their fluctuating cashflow. There is a significant lack of services for this consumer segment across the globe, but startups and challenger banks have been slowly filling the gaps that banks have left open.
Google Cloud has unveiled its latest data center and announced that PayPal will be among the first to move key components of its payments infrastructure to Google’s cloud region. The news is the latest example of a partnership between the two technology giants that extends back at least as far as 2017, when PayPal became an authorized payment method for Android Pay (which later became Google Pay).
The new cloud region, Google’s 22nd globally, will be based in Salt Lake City and is designed to provide customers in the western U.S. with better, more reliable cloud services.
“When it comes to processing a financial transaction, security and speed count,” PayPal VP for Employee Technology & Experiences and Data Centers Dan Torunian said. He added that Google Cloud will provide PayPal with the “security, quality, and velocity” it needs, particularly when it comes to managing seasonal payment transaction volume surges and keeping regional expansion costs low.
In fact, PayPal reportedly chose Salt Lake City in part for low-latency access to its own data center, which will make it easier for PayPal to commit additional resources to the cloud over time. The partnership will also allow PayPal to establish a migration pattern that can be used to convert more on-premises infrastructure to the Google Cloud – at the Salt Lake City data center or to any other Google Cloud platform region.
More than 300 million consumers and merchants in 200 markets use PayPal’s payments technology for financial services and commerce. The San Jose, California-headquartered company began the year forging a strategic partnership with UnionPay International that will boost its merchant and consumer business in the Chinese market. PayPal reported adding more than 37 million net new active accounts last year, processing “nearly $200 billion” in total payment volume in the fourth quarter alone.
Two of the biggest themes in fintech – digital identity and the rise of fintech in Central and Eastern Europe – meet in the latest announcement from biometric authentication specialist and Finovate Best of Show winner iProov. The company’s facial recognition technology now makes it easier for users of SK ID Solutions’ Smart-ID Service in countries like Estonia, Latvia, and Lithuania to renew their accounts without having to visit a physical bank branch.
“This is a major development for all digital identity providers,” iProov CEO Andrew Bud said. “Estonia has proved, for the first time, that a remote, automated, biometric ID verification service can deliver the highest possible levels of security.”
Recognized as equal to a handwritten signature throughout Europe, Smart-IDs enable users to authenticate themselves and provide permissions online using a smartphone app. iProov’s facial recognition technology adds a three-second scan to compare the image of the user to the image on their presented ID document to help defend against fraud and identity theft.
Smart-ID also leverages NFC-based ReadID document verification technology from InnoValor.
Financial crime risk management innovator Featurespace will be helping Enfuce combat fraud and money laundering courtesy of a newly announced partnership. Enfuce, a financial services firm based in Finland, will use Featurespace’s ARIC Risk Hub to enhance its ability to protect its customers from fraud and financial crime.
“Our clients deserve industry-leading services that allow them to freely and fully concentrate on the success of their core business, without worrying about ever-evolving fraud,” Enfuce co-founder and chair Monika Liikamaa said.
ARIC Risk Hub offers real-time transaction monitoring for fraud and financial crime, enabling institutions to identify and act against anomalous and potentially dangerous behavior as it occurs. The technology also reduces the number of false positives by as much as 70%, keeping anti-fraud processes efficient. Featurespace introduced its fraud-fighting technology to Finovate audiences at FinovateEurope 2016.
Here is a round up of recent news from our Finovate alumni.
Sezzleunveils new logo along with its first annual report.
Flybitsexpands its executive team in New York, Toronto, the U.K., and Dubai.
Yseop and Automation Anywhere join forces to scale intelligent automation.
Lighter Capitalappoints Kevin Fink at CTO and Patricia Elliott as CSO.
InCommlaunches Roblox gift cards in France and Germany.
Finovate Alum Features and Profiles
Revolut’s $500 Million Round Boosts Valuation to $5.5 Billion – Global financial platform Revolut has secured its place as the U.K.’s most valuable fintech.
Dealing with Deepfakes in Fintech – The fintech industry is ripe with security firms, such as iProov, that use AI to combat both video and audio deepfakes with anti-spoofing technologies.
Envestnet | Yodlee Acquires Indian Data Aggregator FinBit.io – Envestnet | Yodlee has acquired another asset in its strategy to further grow and develop its data aggregation and analytics business.
Meet Sonect: Cash Network Builder, Finovate Newcomer, Best of Show Winner – What’s better than having a large pizza with all your favorite toppings delivered to your front door? How about a side order of cash, saving you a trip to the ATM or bank branch?
Azimo Taps Ripple for Cross-Border Payments to the Philippines – Fueling these payment transfers is Ripple’s On-Demand Liquidity (ODL) solution that uses XRP to source liquidity and complete money transfers within three seconds.
Lendio Lands $55 Million to Match Small Businesses with Lenders – The investment more than doubles the company’s previous funding, bringing its total to $108.5 million.
SheerID Expands Identity Marketing Platform – The move enables brands to identify and acquire new customers across the globe.
