New Partnership Brings NCR’s D3 Digital Banking to NYMBUS

NYMBUS, makers of the SmartCore private cloud-based core processing platform, announced today that it has licensed the D3 Digital Banking platform from fellow Finovate alum NCR. The license will enable the two companies to help financial institutions rapidly deploy branded digital products and solutions for their business and consumer customers.

“Combining NCR’s D3 digital banking platform with NYMBUS’s core banking platform allows us to better serve progressive financial institutions, and corporations with well-known brands seeking to address the needs of digital-savvy customers in high-growth market segments,” NYMBUS President David Mitchell said.

NCR acquired D3 Banking – also a Finovate alum – over the summer for an undisclosed sum. At the time, company president and CEO Michael D. Hayford said the purchase would help NCR grow its digital banking offerings into new markets, especially the enterprise market as a solution provider for big FIs. “D3 has a well-earned reputation for innovation and product excellence,” Hayford said in July. “(The company) delivers one of the most advanced digital platforms for large banks,”

“Financial institutions are introducing digital bank brands to meet the needs of Gen Z and Millennials, address new market segments, and drive deposit growth,” NCR D3 Digital Banking General Manager and former D3 Banking CEO Mark Vipond explained. “Combining our platforms allows financial institutions to rapidly go to market with digital banking offerings, quickly accelerate growth, and meet the needs of their customers.”

D3 Banking demonstrated its technology at FinovateFall 2015. Headquartered in Omaha, Nebraska, the company raised more than $33 million in equity funding prior to being purchased. More than three million users have deployed D3 Banking’s technology since the company’s inception in 1997 – including Zions Bancorporation, which announced a partnership with D3 in April.

Based in Duluth, Georgia and founded in 1884, NCR demonstrated its VR Collaboration for ATMs technology at FinovateSpring 2017. The demo used a fully immersive virtual reality experience to show what an ATM looks like from the inside. In addition to its purchase of D3 Banking, NCR has spent 2019 teaming up with fellow Finovate alum Bluefin and Powertranz to support POS card processing for quick service restaurants in the Caribbean. The company alsopartnered iwith Santander U.K. to enhance customer service at the 600-branch bank. The company began the year launching its EMV-integrated Equinox Luxe devices for NCR Connected Payments, providing a secure payment path for retailers.

Fresh of its most recent Finovate appearance last month at FinovateFall where it demonstrated its SmartLaunch financial services platform, NYMBUS was founded in 2015 and is headquartered in Miami Beach, Florida. The company has forged a host of partnerships this year, teaming up with Centier Bank in September, Pacific National Bank in May, and both Moxy Bank and Inspire Federal Credit Union in the spring. With $33.4 million in funding, NYMBUS includes Home Credit Group and Vensure Enterprises among its investors.

Expensify Combines Spending Controls and Expense Tracking with New Corporate Card

Expensify is the latest fintech to get into the card game. The San Francisco, California-based expense management solution provider announced today that its free corporate Expensify Card, will give businesses of all sizes a unique combination of spending power and control along with real-time expense management.

For Expensify, the new corporate card is a case of going back to the future. “Expensify started as a corporate card way back in 2008 before we decided to focus on expense,” company founder and CEO David Barrett explained, “so it’s fun to see the product come full circle with a card that naturally extends our existing platform. The card will make life easier for our customers, who no longer have to worry about lost receipts, late fees, or accidental overspending.”

The new offering automatically inputs expense details and produces an audit-protected receipt whenever an employee makes a transaction with the card. Expenses and transactions are shared with administrators in real-time, providing what the company called an “unmatched” degree of card control and significantly less risk of employee overspending.

The new Expensify corporate card also features continuous reconciliation of all approved expenses, spending controls and card limits on unapproved expenses, and no fees, interest, or personal guarantees. The card also offers perks from partners including Amazon Web Services, Stripe,, and Stack Overflow.

One of Finovate’s earliest alums – making its Finovate debut in 2009 – Expensify most recently demonstrated its technology at our developers conference, FinDEVrSiliconValley, in 2016. At the event, David Barrett led a presentation titled Bedrock – Expensify’s Open-Sourced Infrastructure Secret Weapon, that discussed how the company’s geo-redundant database technology enabled it to become the fastest growing ERP software in the world.

This summer, Expensify became the first fintech company to win a Cannes Lio aard for Expensify This, a rap-influenced, marketing campaign featuring 2Chainz and Adam Scott. This year, the company partnered with bookkeeping franchise Supporting Strategies, and integrated with Southeast Asia-based ride-sharing firm Grab.

Founded in 2008, Expensify has raised more than $38 million in funding from investors including CIBC, OpenView Venture Partners, PJC, and Redpoint Ventures.

FinovateAsia Power Panels Tackle Key Topics Driving Fintech Innovation in Asia

We are harnessing the collective wisdom of some of the most insightful fintech analysts and observers next week at FinovateAsia in Singapore. Our Power Panels, on October 14 and 15, will investigate key trends that are driving fintech innovation in the Asia Pacific region.

A preview of the upcoming conversation is below. And if you will be in Singapore next week, here’s how to join us for what promises to be a series of fascinating discussions on fintech in Asia.

Off the Record Session with Regulators: What Are Our Priorities & Concerns in Regulating Fintech?

How can we support fintech start-ups and balance risk and innovation – what is “right touch” regulation? Data privacy is on the rise globally – will this impact regulation of the use of data in Asia? How can regtech address compliance and regulatory challenges?

Featuring Scott Bales, Samantha Emery, Pralhad Giri, and Kooi Fei Foong

Power Panel: Mapping Out Your Digital Transformation Journey – Start with the Customer & Work Backward

The battle for customer data and insight – what are the keys to success in the age of hyper personalization? How can financial institutions adopt open innovation to avoid becoming just the infrastructure and losing the customer engagement space?

Featuring Brit Blakeney, Samuel Hall, Dennis Khoo, Ravinder Pal Singh, and Scott Bales

Challenger Bank Power Panel: What Have We Learned On Our Journey to Build a Digital Only Bank

What are the challenges in building a digital only bank in today’s environment? How can companies take advantage of new openness toward challenger bank? Where do digital only challenger banks fit in the financial ecosystem along with traditional banks and financial service providers, as well as fintechs?

Featuring Louise Beaumont, Umang Moondra, Tony Ohlsson, and Jeremy Berger

Power Panel: How Tech Giants, Platform Players and Their Super Apps Are Reaching New Consumers In A Tech-Driven World

Who are the most innovative tech giants and platform players of today? What are these companies doing right to maintain their edge in the market? How do super apps help innovative firms attract and engage new, tech-savvy consumers in an increasingly competitive environment.

Featuring Helen Yi, Samita Malik, Yin Long, Johann Hauswald and Scott Bales

Mentoring Power Panel: What Every Startup Needs to Know about Fundraising, Winning Investors, Marketing, Building Scale, and Overcoming the Hurdles to Form Fruitful Partnerships in Asia

What kind of opportunities do Asian markets present for fintech startups? How important is it for fintechs based outside of Asia to partner with firms inside of the region? What are the biggest challenges that startups face when seeking to partner with financial institutions in Asia?

Featuring Karen Contet Farzam, Dhiritiman Hui, Kuo-Yi Lim, Paul Spronk, and Daniel Ramamoorthy.

In addition to our Power Panels, FinovateAsia will also feature a series of roundtables and debates on the latest topics in Asian fintech.

  • Strategy Roundtable (Emerging Asian Markets Stream): Capturing the Opportunities in Asian Emerging Markets – Indonesia, Malaysia, Thailand, Vietnam, the Philippines, and Korea.
  • Strategy Roundtable (Digital Lending Stream): Retail, Small Business, and Commercial Lending in Asia – Where are the Opportunities for Incumbents and Startups? How Will Regulation Change the Game?
  • Strategy Roundtable (Digital Payments Stream): Payments Innovation – Where Is Asia Ahead of the West and Where Is It Lagging? What Will the Asian Retail and Wholesale Payments Ecosystem Look Like in 2025?
  • Strategy Roundtable (Investech Stream): How Can Incumbents Harness New Technologies and Identify and Collaborate with New Players to Embrace Innovation and Transform Investment Management?
  • Investors Debate: Where Is the Smart Money Investing in Asian Fintech? Will the Consumer Focused Fintech Model Evolve into a Business Focused Model? What Do We Know About the Next Generation of Unicorns?
  • Analyst Showcase: What’s Hot and What’s Not in Fintech? What Has Changed in the Last 12 Months?

FinovateAsia kicks off in Singapore on October 14 through 15, with a special Summit Day on the 16th. For more information, and to pick up your ticket and save your spot, visit our registration page today.

Finovate Alumni News


  • Expensify Combines Spending Controls and Expense Tracking with New Corporate Card.
  • New Partnership Brings NCR’s D3 Digital Banking to NYMBUS.

Around the web

  • NYMBUS licenses NCR’s D3 Digital Banking platform as part of strategic partnership.
  • Kantox partners with Citi’s Commercial Banks to provide the bank’s customers in the U.S. with enhanced FX payments connectivity.
  • Featurespace collaborates with Latin American credit bureau Círculo de Crédito to help fight application fraud in Mexico.
  • Black Star News interviews CollegeBacker’s James Ryan on the “national emergency” of student debt.
  • Financial education technology innovator EVERFI acquires U.K.-based EdComs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

The Race is On in the High Interest Savings Game

I had a laugh this morning when I scanned my banking transactions and saw a credit of $0.01. The transaction description read Interest Paid. This is common, of course, as average savings account APY totals just 0.09%.

As fintechs seek to gain consumers’ trust, attention, and their deposits, some have launched high interest earning accounts to lure them in. Plenty of banks already offer such accounts, and now fintechs have decided its time to follow suit. Here’s a run-down of the players in the game thus far:


  • Launched in 2013
  • Checking product launched September 2019
  • APY: 2.28% on savings, 1% on checking
  • The fine print: MaxMyInterest was one of the first fintechs to start playing the high interest savings game, and built its entire business model around the concept. Membership for either savings, checking or both costs 8 basis points per year. Accountholders with balances over $10,000 will be reimbursed for up to $200 per year by Max’s banking partner, Radius Bank. Outside of the membership fee there are no fees and no minimum balance requirements.


  • Launched September 2018
  • APY: 2.02%
  • The fine print: Requires a minimum balance of $2,000


  • Launched February 2019
  • APY: 2.57% at launch, currently 2.07%
  • The fine print: After the Federal Reserve cut its benchmark rate twice WealthFront dropped the APY to 2.32% and then again to 2.07%. The account minimum is $1 and Wealthfront does not charge monthly fees.

T-Mobile in partnership with Bank Mobile

  • Launched April 2019
  • APY: 4%
  • The fine print: Accounts with balances up to $3,000 earn 4% APY, accounts with balances over that threshold earn 1% APY. There are no fees or minimum balance requirements but account holders must deposit at least $200 per month into the account to earn 4% APY.


  • Launched July 2019
  • APY: 2.69% at launch, currently 1.79%
  • The fine print: When Betterment launched the account in July, it advertised that users could earn up to 2.69% APY until the end of this year, after which will drop to 2.43%. The company also noted that the interest is subject to change, which it did– two week after launch. The company dropped its APY to 1.79% in response to the Federal Reserve dropping the benchmark rate. Users who sign up for the company’s debit card can earn 2.04%. The account has a minimum balance of $10 and does not charge monthly fees.

Green Dot

  • Launched August 2019
  • APY: 3%
  • The fine print: Interest, which is paid on a maximum of $10,000, is held in a separate account that the consumer is unable to access until the account anniversary. The high yield savings accounts must be opened in tandem with Green Dot’s Unlimited Cash Back account, which pays customers a 3% cash-back bonus on all online and in-app purchases. The account charges a $7.95 monthly fee if consumer’s purchases (excluding mobile bill payments, ATM withdrawals, and ACH transactions) are less than $1,000.


  • Launched October 2019
  • APY: 1.25%
  • The fine print: Coinbase’s offering is set up as a rewards structure, not as an interest earning account. U.S.-based Coinbase customers earn a 1.25% APY reward on the amount of USD Coin (USDC) they hold in Coinbase. The reward is paid out in USDC, not U.S. currency. The offer is not available to accountholders in New York.

Credit Karma

  • Launched October 2019
  • APY: 2.03%
  • The fine print: There are no fees and no minimum balance requirements. A maximum balance of $5,000,000 and transfer limits apply.


  • Launched October 2019
  • APY: 2.05%
  • The fine print: The percentage is paid as a part of Robinhood’s Cash Management offering, a program that moves users’ uninvested cash to partner banks.

Credit Karma Unveils New High Yield Savings Accounts

The 100 million members of Credit Karma will soon have access to more than just tools to better understand and improve their credit scores. The company announced this week that it is launching a new, high-yield savings account with no fees, no minimums and an initial rate of 2.03%. Credit Karma added that it will leverage its partnerships with as many as 800 banks to find and switch to those institutions offering the best rates on cash.

“We spent the first 12 years focusing on helping Americans manage their debt,” Credit Karma CEO and founder Ken Lin said. “We want to make savings accessible to every American in the same way we have with credit scores. We look forward to helping our members grow their money with Credit Karma Savings.”

Credit Karma will facilitate the opening and managing of the savings accounts, while the funds themselves will be kept and insured by FDIC-licensed partner MVB Bank to the tune of $5 million. The current rate offered by Credit Karma Savings is more than 20x the national average. The solution will be available via the Credit Karma app, and members can begin signing up for the new feature on October 28.

“When we built Credit Karma Savings, we wanted to develop a product that made opening a savings account as easy as possible for our members,” Credit Karma General Manager of Savings and Tax Jagit Chawla said. “We’re also making it possible for members to see the power of high-yield savings with our savings simulator, which shows how your money could grow over time.”

The move by the company comes as more fintechs are focusing on savings solutions as a way to add value to their personal finance or roboadvisory offerings. Companies like MaxMyInterest announced a few weeks ago that it is adding a high-yield checking account to its high-yield savings option. Other fintechs in the wealthtech space, such as Betterment and Wealthfront have also introduced high-yield savings options. We took a look at the way fintechs are innovating on the savings side in our feature by senior analyst Julie Muhn: The Race is On in the High Yield Savings Game.

Founded in 2007 by Ken Lin (CEO) and headquartered in San Francisco, California, Credit Karma demonstrated its technology at FinovateSpring 2008. One of Finovate’s earliest alums, the company began the year with news it had been added to the Forbes Fintech 50 roster of the most innovative companies in fintech.

Credit Karma has raised $868 million in funding. The company includes Silver Lake Partners, SV Angel, QED Investors, CapitalG, and Susquehanna Growth Equity among its investors.

PayPal Goes to China; Dubai Named Top Ten Global Financial Center

Join us next week as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

FinovateAsia runs from October 14 through October 15, with an additional Summit Day on October 16. Visit our registration page and pick up your ticket today.

Sub-Saharan Africa

  • Finovate alums Hydrogen, Sedicii, Strands, and Wealth Migrate earn finalist spots in the South African Reserve Bank’s Fintech Demo Day.
  • Carbon CEO Chijioke Dozie offers Five Lessons Global Banks Can Learn from African Fintechs.
  • Business Tech highlights 12 of the hottest fintechs in South Africa according to the country’s biggest banks.

Central and Eastern Europe

  • Alior Bank’s Alior Kantor to deploy Efigence’s EFI4 Digital Banking Platform.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Sberbank unveils new “Apply for Mortgage” feature on its Sberbank Online mobile app.

Middle East and Northern Africa

  • Dubai earns top ten ranking in the Global Financial Centres Index (GFCI).
  • Boubyan Bank of Kuwait and Zain Telecom team up to launch a digital Islamic bank.
  • Saudi Capital Market Authority (CMA) authorizes financial technology experimental permits enabling three companies to build an equity crowdfunding platform.

Central and Southern Asia

  • Khatabook, an Indian fintech that helps SMEs track and record businesses transactions, raises $25 million.
  • Varanium Capital launches $28 million venture fund focused on Indian fintech.
  • Indian fintechs await regulatory guidelines for deployment of Video KYC technology.

Latin America and the Caribbean

  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Colombian small business lender Sempli raises $8 million in Series A funding.
  • EBANX will process payments for Uber in Brazil and other countries in Latin America.


  • PayPal’s Move into China is a Big Deal.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

Top image designed by Freepik

Mission-Critical, Concurrent Transactional, and Analytic Processing at Scale

Mission-Critical, Concurrent Transactional, and Analytic Processing at Scale

This is a sponsored blog post by InterSystems, a financial data technology company based in Cambridge, Massachusetts.

Successful financial services organizations today must be able to simultaneously process transactional and analytic workloads at high scale – accommodating billions of transactions per day while supporting thousands of analytic queries per second from hundreds of applications – without incident. The consequences of dropped trades, or worse – a system
failure – can be severe, incurring financial losses and reputational damage of the firm.

InterSystems’ IRIS Data Platform is a hybrid transactional/ analytic processing (HTAP) database platform that delivers the performance of an in-memory database with the reliability and built-in durability of a traditional operational database.

InterSystems IRIS is optimized to concurrently accommodate both very high transactional workloads and a high volume of analytical queries on the transactional data. It does so without compromise, incident, or performance degradation, even during periods of extreme volatility and requires fewer DBAs than other databases. In fact, many installations do not need a dedicated DBA at all.

An open environment for defining business logic and building mobile and/or web-based user interfaces enables rapid development and agile business innovation.

For one leading global investment bank, InterSystems data platform is processing billions of daily transactions, resulting in a 3x to 5x increase in throughput, a 10x increase in performance, and a 75% reduction in operating costs. The application has operated without incident since its inception.

Traditionally, online transaction processing (OLTP) and online analytical processing (OLAP) workloads have been handled independently, by separate databases. However, operating separate databases creates complexity and latency because data must be moved from the OLTP environment to the OLAP environment for analysis. This has led to the development of a new kind of database. In 2014, Gartner coined the term hybrid transaction/analytical processing1, or HTAP, for this new kind of database, which can process both OLTP and OLAP workloads in a single
environment without having to copy the transactional data for analysis.

At the core of InterSystems IRIS is the industry’s only comprehensive, multi-model database that delivers fast transactional and analytic performance without sacrificing scalability, reliability, or security. It supports relational, object-oriented, document, key value, and hierarchical data types, all in a common persistent storage tier.

InterSystems IRIS offers a unique set of features that make it attractive for mission-critical, high-performance transaction management and analytics applications, including:

  • High performance for transactional workloads with built-in guaranteed durability
  • High performance for analytic workloads
  • Lower total cost of ownership

InterSystems IRIS is enabling financial services organizations to process high transactional and analytic workloads concurrently, without compromising either type – using a single platform – with the highest levels
of performance and reliability, even when transaction volumes spike.

Founded in 1978, InterSystems is a privately held company headquartered in Cambridge, Massachusetts (USA), with offices worldwide, and its software products are used daily by millions of people in more than 80 countries. For more information, visit:

Finovate Alumni News


  • Credit Karma Unveils New High Yield Savings Accounts
  • Finovate Global: PayPal Goes to China; Dubai Named Top Ten Global Financial Center

Around the web

  • Tradeshift to implement QEDIT’s privacy solution to preserve the full privacy of transactions.
  • Pendo Systems announces a new strategic partnership with Market Alpha Advisors.
  • Meniga to collaborate with Nordic Innovation House in Singapore.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

PayPal’s Move into China is a Big Deal

After sealing a transaction which gives it a 70% stake in China-based GoPay, PayPal has taken on a new role in the global payments services scene.

That’s because PayPal not only has controlling interest in GoPay but is also now licensed to offer online payment services in China, making it the first foreign company to be granted such license.

“We are honored to become the first foreign payment platform to be licensed to provide online payment services in China,” said PayPal CEO Dan Schulman. “We look forward to partnering with China’s financial institutions and technology platforms, providing a more comprehensive set of payment solutions to businesses and consumers, both in China and globally.”

The China opportunity represents major growth potential for PayPal. That’s because online payments in China are undergoing a growth spurt of their own. Between 2013 and 2018, online payment transactions in China doubled, topping out at $200 trillion.

The move gives PayPal an advantage over U.S. competitors, which have become not only more prolific but also more competitive since PayPal set up shop in 1998. However, the new territory also pits PayPal against some major new competitors. China-based competitors, Alibaba’s Alipay and Tencent’s WeChat Pay, make up 90% of the region’s mobile payment market.

Financial terms of the deal, which marks PayPal’s 19th acquisition, were not disclosed.

PayPal showcased its Instant Account Creation feature at FinovateFall 2012. The company has a market capitalization of $118 billion.

We highlighted an overview of current stats and trends in the Asian fintech scene in a blog post yesterday. The best way to learn more about fintech in Asia is to attend FinovateAsia, taking place in Singapore October 14 through 15.