StockTwits Launches Free Online Trading

StockTwits Launches Free Online Trading

Stocktwits, a social network for investors and traders, announced the launch of a new app that offers commission-free trades on U.S. equities. The app is called Trade App and is offered by Stocktwits subsidiary and registered broker-dealer, ST Invest.

Like the Stocktwits platform, the app will engage investors with a social interface that promotes idea exchange. Unlike the Stocktwits platform, however, Trade App will not charge commissions and will facilitate fractional share investing.

The commission-free trades, mobile interface, and fractional share capability all appeal to millennials and those with a lower net worth. These aspects pit the new app against Stocktwits competitor and partner Robinhood. The two formed a partnership in 2015 with an integration that offered Robinhood users access to Stocktwits’ stock-tracking tools and enabled StockTwits’ users to leverage Robinhood’s free brokerage service.

“With 150,000 messages sent every day on the platform, Stocktwits prides itself on understanding the retail investor and trader. For ten years we’ve had a front row seat to the roller coaster of emotions the active investor goes through, from the highs to the lows,” said Ian Rosen, CEO of Stocktwits. We built Trade App to create a better experience for investors and traders of all levels. Self-directed doesn’t have to mean self-destructive, and we believe the key to success lies in not relying solely on yourself.”

Rosen, who was appointed Stocktwits CEO in 2016, said that the Trade App “matches the excitement and pulse of the community we’ve built.” The app will be available to Stocktwits’ existing user base of two million this summer on iOS. While there is no exact date when Trade App will be available to the general public, the company said that the release will occur “over time.”

Founded in 2008 by Howard Lindzon, StockTwits serves as one of the top trading communities and social investing platforms. The company facilitates 4 million messages each month about 7,500 individual stocks and tickers. StockTwits launched its blog network and StockTwits Connect at FinovateEurope 2011.

Capital Bank of Jordan Selects Backbase for Digital Transformation

Capital Bank of Jordan Selects Backbase for Digital Transformation

Capital Bank of Jordan has signed for Backbase’s digital channels platform, reports Martin Whybrow of Fintech Futures (Finovate’s sister publication).

The Dutch supplier’s solution will cover both customer and employee digital channels across institutional and retail banking.

A key stated aim is faster time-to-market for new products. Capital Bank has signed for the full product stack based around Backbase CXS 6, which is the latest version, launched at the end of 2017, and comes with identity and access management capabilities. The deal includes the Backbase Entitlements component and DBS digital banking back-end services.

Implementation will be carried out by Backbase and one of its partners, Lisbon-based Bring Global. The system will be deployed on the cloud and will integrate with the bank’s core system and other applications. The bank is a long-standing user of TemenosT24, which has its own digital channel offering.

Capital Bank’s CEO, Ala Qumsieh, describes Backbase as “an ideal long-term strategic partner” for the bank’s digital transformation.

Backbase has a reasonable number of Middle East users. An addition last year, Lebanon-based Société Générale de Banque au Liban (SGBL), included plans for a roll-out in Jordan.

At FinovateEurope 2018, Backbase unveiled the Customer OS in a demo that won the Amsterdam-based company Best of Show honors for the fourth time. Last July, the company teamed up with Jumio to deliver online ID verification services and in December the company partnered with Polish bank BGŻ BNP Paribas Bank.

FinovateSpring Sneak Peek: BreachRx

FinovateSpring Sneak Peek: BreachRx

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

BreachRx’s platform provides automation across the enterprise, enabling organizations to respond to cyber incidents efficiently and in compliance with relevant regulations, policies, and contracts.

Features

  • Incident response that is automatically tailored and up-to-date
  • One platform for all business silos that are responsible for incident response
  • One system of record for audit and regulators

Why it’s great
BreachRx will change data breach response from a crisis to a routine business process.

Presenter

Andy Lunsford, CEO, Co-Founder
Lunsford is a privacy law expert with a decade of experience in large-scale commercial litigation. He first began working on data security issues when his firm represented ChoicePoint in 2004.
LinkedIn

FinovateSpring Sneak Peek: Stake

FinovateSpring Sneak Peek: Stake

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

YourStake.org is a petition platform that leverages your shareholder rights to bring your concerns into corporate boardrooms. Create progress on social issues that are otherwise too big to tackle.

Features

  • Learn the impact of your investments
  • Take action to make companies better
  • Find ways to invest your values

Why it’s great
Individuals are taking back their shareholder voice and using it to drive social good.

Presenters

Patrick Reed, CEO
Climate activist, Yale Economics, full-stack Python for web and machine learning.
LinkedIn

Gabe Rissman, President
Impact investment researcher, evangelist. First student to file a shareholder resolution.
LinkedIn

FinovateSpring Sneak Peek: Arkose Labs

FinovateSpring Sneak Peek: Arkose Labs

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

Arkose Labs solve multimillion-dollar fraud problems for the world’s most targeted businesses without impacting user conversion.

Features

  • Definitive results: instantly proves whether a request is authentic or inauthentic
  • Shrinking friction: validated telemetry minimizes false positives
  • SLA: guarantees inauthentic requests won’t scale

Why it’s great
Single requests attacks can be stopped with an intermediate attack surface that isn’t within the control of attackers, but cannot be detected by artificial intelligence or stopped with bot mitigation.

Presenters

Kevin Gosschalk, CEO & Founder
Gosschalk is a machine vision specialist who transformed his expertise into cyber security innovation as CEO and founder of fraud prevention technology, Arkose Labs.
LinkedIn

Samuel Tyler, Director of Product Marketing
Tyler is a B2B product marketer working at the intersection of cyber security and identity for Arkose Labs.
LinkedIn


FinovateSpring Sneak Peek: BlytzPay

FinovateSpring Sneak Peek: BlytzPay

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

BlytzPay provides solutions that allow customers to communicate and pay via text interaction. BlytzPay is as easy as Text. Pay. Done.

Features

  • Text-to-pay solution that delivers a mobile point of sale accepting cards, ACH, and cash
  • Closed-loop cash network for the unbanked and underbanked
  • Powerful two-way communication for customers

Why it’s great
Interaction leads to transaction. We take the friction out of communication and collection so you can focus on growing your business.

Presenters

Robyn Burkinshaw, CEO
Burkinshaw’s background in payments and merchant services has helped her identify the need for improved communication, reduced friction, and flexible payment options for each individual customer.
LinkedIn

Josh Albrecht VP Client Services
With over a decade of experience in the financial services industry, Albrecht is passionate about fintech improving the overall customer experience.
LinkedIn


FinovateSpring Sneak Peek: BlueRush

FinovateSpring Sneak Peek: BlueRush

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

BlueRush will demo IndiVideo — interactive, personalized videos for bills and statements. This iteration offers a a more compelling, data-driven way to issue bills and statements.

Features

  • Increase engagement
  • Drive conversions
  • Capture customer insights

Why it’s great
Personalized video is a natural enhancement to bills and statements. This format increases customer satisfaction and loyalty, decreases customer care costs, and enables cross/up-selling.

Presenter

Ted Mercer, VP Sales
At BlueRush, Mercer searches for new ways to drive value for clients using the company’s interactive personalized video platform.
LinkedIn

FinovateSpring Sneak Peek: Launchfire

FinovateSpring Sneak Peek: Launchfire

A look at the companies demoing at FinovateAsia Digital on June 22, 2021. Register today and save your spot.

Launchfire’s Lemonade is a game-based microlearning platform that gives financial institutions the tools and analytics they need to make frontline staff more effective — faster.

Features

  • Launch more engaging and effective learning experiences for employees
  • Get frontline employees role-ready in less time
  • Measure business impact and prove ROI

Why it’s great
Lemonade uses games, microlearning, and advanced analytics to reduce overall training time, improve learning outcomes, and get frontline staff role-ready faster.

Presenter

Romeo Maione, Director of Business Solutions
As Director of Business Solutions, Maione has worked with top banks in North America to upskill their frontline and increase adoption of their digital products.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Capital Bank of Jordan Selects Backbase for Digital Transformation.
  • StockTwits Launches Free Online Trading.

Around the web

  • Validis’ DataShare to integrate with Baker Hill NextGen.
  • Insuritas partners with Nymeo FCU to launch digital insurance agency.
  • SGX orders Ayondo to shelve planned disposal of unit.
  • TechCrunch reports: Coinbase launches in 11 countries with crypto-to-crypto conversions.
  • Jack Henry & Associates recognized on Forbes’ America’s Best Employers List for third consecutive year.
  • Flywire integrates with TRUE North to connect the application, enrollment and cross-border payment and receivables processes to bring transparency to education payments.

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.

Payfone Raises $24 Million in Round Led by TransUnion

Payfone Raises $24 Million in Round Led by TransUnion

Digital identity authentication provider Payfone closed a $24 million funding round today. Credit reporting agency TransUnion led the round, while existing investors Synchrony, MassMutual Ventures, and Wellington Management also contributed. The investment brings the New York-based company’s total funding to $117.6 million.

TransUnion’s investment comes in conjunction with a strategic partnership between the two companies, which have been doing business together since 2017. The Chicago-based company will integrate Payfone’s Trust Platform and Trust Score into its IDVision with iovation suite of products.

“Within this new strategic partnership, we anticipate supporting Payfone’s expansion to new markets and looking at other uses of their products throughout our organization,” said Geoff Miller, senior vice president of global fraud and identity solutions at TransUnion. “We are both committed to protecting consumers, focusing on data privacy and building trust with our customers, and the combination of our solutions will create a better, more seamless experience for everyone.” Miller will join Payfone’s Board of Directors.

TransUnion will serve as Payfone’s primary partner for regulated identity verification information. Payfone CEO Rodger Desai said, “With our partnership with TransUnion, we can now leverage TransUnion’s footprint of more than 30 countries to help expand our Trust Score around the globe, allowing billions of additional consumers to safely access digital services.”

Payfone, which was founded in 2008 as a mobile payments company, demoed1-Touch Checkout at FinovateFall 2012. The New York-based company has since pivoted to focus on authentication solutions.

Last year, Payfone authenticated 20 billion transactions for Fortune 500 companies using its zero-knowledge architecture (if you’re unsure what zero-knowledge is, check out Payfone’s blog post on the matter). The company plans to double the number of transactions authenticated this year.

Founded in 1968, TransUnion has office locations at its headquarters in Chicago, as well as in Hong Kong, Mumbai, Toronto, Johannesburg, Colombia, and Brazil. At FinovateFall 2016, TransUnion showcased Prama, a suite of analytics tools that helps lenders gain market intelligence and acts on insights to drive growth and build a risk policy. TransUnion is a public company with a market capitalization of $13.3 billion, trading on the NYSE under the ticker “TRU.”

Cutting Edge Fintech in the World’s Financial Capital – Get Involved Now!

Cutting Edge Fintech in the World’s Financial Capital – Get Involved Now!


Save the date for FinovateFall 2019! We’re returning to The Marriott Marquis in Times Square this September 23 through 26 with a showcase of fintech solutions, insights that deliver real-world value, and meaningful connections with senior financial decision makers.

Witness exciting new technologies via our signature live 7-minute demos (no slides or canned video allowed!). Following the demos, our innovative speakers share success stories and lessons learned to help make those solutions a reality within your own organization. Plus, don’t miss the add-on Summit Day that takes a deeper dive into Artificial Intelligence and Wealthtech & Investech.

With 75+ demoing companies, 120+ expert speakers and more networking opportunities than ever before, no other event gives you as much insight from start-ups, tech giants, large FIs, community banks and credit unions – from New York City and beyond.

FinovateFall by numbers

FinovateFall fintech innovation event


Get involved now!

Want to demo?

Demo your latest fintech innovation on stage and show the audience of 1500+ senior finance executives how you can help their business.

At your exhibition space, meet the bankers and investors who can grow your business.

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Demo your fintech innovation


Want to sponsor?

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Align your brand with innovation and the fintech growth story.

Demonstrate your thought-leadership to Finovate’s event audience and digital community of 300k fintech professionals.

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Would you like to get your voice heard by the cream of the North American fintech community? You only get one chance a year to be heard by 1,500+ leading fintech experts in the world’s financial capital – now’s the time to get in touch.

Please reach out to Laura Maxwell-Bernier now to inquire about speaking or moderating.

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FinovateFall makes it easy to connect with the people that matter to you. This is your chance to speak directly to innovators behind the most exciting tech in finance.

The event app suggests relevant attendees based on your business needs and offerings. Create quantifiable business opportunities with returns you can measure.


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If you’d like to attend as a delegate, book online here today or contact our customer services team at +1 (888) 670-8200 or [email protected].

Hope to see you in New York in September!

Kantox Closes $5.7 Million to Bring More Tech to FX

Kantox Closes $5.7 Million to Bring More Tech to FX

Currency and foreign exchange solutions company Kantox boosted its total funding to just over $35 million today after closing a $5.7 million (€5 million) debt financing round.

The investment is the second debt financing deal Kantox has received from Silicon Valley Bank following a round of an undisclosed amount in December of 2017.

Kantox CEO and co-founder Philippe Gelis said that the company has a “very strong” relationship with the bank. He added, “This investment will contribute to our ongoing growth trajectory as we continue to bring more technology to the FX market.”

Founded in 2011, Kantox offers a low-cost way for businesses dealing with a variety of foreign currencies. The tool allows treasury managers to collect, hold, and pay in 29 different currencies.


Kantox also offers a host of other FX tools, including a product to help businesses price their goods dynamically, based on market changes; a service that provides companies with mid-market rates for spots and forwards in over 130 currencies and hundreds of currency pairs; and a suite of FX risk management tools. Dynamic Hedging, one of the risk management tools Kantox launched in 2016, helps companies monitor currency risk in real time.

Gelis demoed Kantox Peer FX at FinovateEurope 2013 in London. The company’s 3,500+ clients have leveraged Kantox’s foreign exchange management solutions to trade $9.7 billion in 143 countries.