Exate, FutureFlow, Anorak Join FinTech Innovation Lab London

Exate, FutureFlow, Anorak Join FinTech Innovation Lab London

FinTech Innovation Lab London has unveiled its 2019 cohort. And among the 20 startups selected, three – Exate Technology, FutureFlow, and Anorak – are Finovate alums.

“The U.K. is a hotbed for fintechs, which are starting to bite at banking revenues,” Julian Skan, executive sponsor of FinTech Innovation Lab London, said. “But banks and insurers are also capitalizing on the opportunity to work with emerging technologies and new talent to compete.”

Skan added, “With our accelerator programme in its seventh year, we’re looking forward to exploring how startups are using the changes to evolve the financial industry for the better.”

The program, founded by Accenture and its partners in 2012, runs for three months between January 7 and March 28. Participating startups will work with executives from banks and insurers such as BlackRock, HSBC, Santander, and Wells Fargo to further develop their business models and solutions. In total, 35 financial institutions are providing mentors for the program.

“The team at Exate Technology (is) extremely proud to have been selected for Accenture’s Seventh Annual FinTech Innovation Lab,” Sonal Rattan, co-founder and CTO of Exate Technology wrote in a post at LinkedIn. “Fantastic kick-off day.” Founded in 2015 and headquartered in London, U.K., Exate demonstrated its data middleware IT solution at FinovateEurope 2018. The company’s technology enables users to apply rules to determine how data is accessed. Exate calls the solution “a virtual visa for your data.”

Demonstrating its BigData Analytics Platform at FinovateAsia 2017, FutureFlow provides institutions with a map of movement of money through the financial system. Like “cookies for money,” the company’s solution gives users deep money flow insights, showing where money in each transaction has been before, how quickly it moved, and what good, services, and locations it has covered. Headquartered in New York City, the company was founded in 2016.

Insurtech innovator Anorak offers personalized, regulated life insurance purchasing advice to help insurance consumers get the best policy at for the least cost. The company leverages data science and machine learning – as well as decades of insurance industry experience – to analyze risk and coverage needs, turning bank data into customized insurance solutions. The London, U.K.-based company was founded in 2016, and demonstrated its technology at FinovateEurope 2018.


Interested in fintech in the U.K. and Europe? Join us next month in London for FinovateEurope 2019, February 12 through 14. Live fintech demos, insightful keynotes, and more.

Klarna Unveils New “Get Smoooth” Shareholder, Snoop Dogg

Klarna Unveils New “Get Smoooth” Shareholder, Snoop Dogg

Klarna, a payment provider and bank, has brought rapper Snoop Dogg into the team to… bring “Smoooth” to the next level, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

Snoop Dogg will become Smoooth Dogg and the face of a major campaign called “Get Smoooth”, as well as Snoop Dogg becoming a minor shareholder in Klarna.

The campaign aims to remove friction from the world of pay later payments. Thus, it has recruited “arguably the smoothest man alive, on his journey to become even smoother.” You couldn’t make this up. “From smooth to smoooth”, the campaign said.

For Snoop Dogg, this is part of his European investment strategy.

“I’ve been looking for an opportunity to expand my tech investment portfolio to Europe and seeing the way Klarna operates and how they challenge the status quo, I think it’s a match made in heaven. I’m very excited about this partnership,” said Snoop Dogg.

Snoop Dogg will acquire the shares from an existing Klarna shareholder. Klarna’s CEO Sebastian Siemiatkowski confirmed the partnership on Twitter.

“Snoop is not only a rap legend, but also a successful businessman, with a genuine interest in tech, retail and e-commerce. He has a great understanding of consumer behaviour and is exceptional when it comes to branding and marketing,” Siemiatkowski continued.

For context, this man once said in a song: “I love you so, how much you’ll never know. ‘Cause you took your dope away from me.”

Following the Get Smoooth campaign, Snoop Dogg and Klarna will announce a range of unique items enabling anyone to “Get Smoooth.”

Founded in 2005 and headquartered in Stockholm, Sweden, Klarna demonstrated its technology at FinovateSpring 2012. Last fall, the company announced a $20 million funding round that brought its total capital to nearly $682 million.

Finovate Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Middle East and Northern Africa

  • Dubai International Financial Centre (DIFC) inks memorandum of understanding (MoU) with U.K.’s Innovate Finance.
  • Emirates NBD leverages technology from Tata Consultancy Services to upgrade its payment system.
  • Al Monitor looks at the “fast-changing landscape” of fintech in Iran.

Central and South Asia

  • Alipay drives Pakistan’s first blockchain-based cross-border remittance service.
  • India’s Reliance Jio prepares to enter the PoS devices market.
  • ZestMoney receives venture debt funding from Alteria Capital.

Latin America and the Caribbean

  • Cosan SA to launch “the Alipay of Brazil,” processing payments and money transfers via smartphone.
  • Latin American PSP allpago expands payment service to Chile.
  • Forbes.com features a glowing review of new legislation in Mexico to regulate fintech.

Asia-Pacific

  • Loanstreet to offer first online platform for motorcycle insurance in Malaysia.
  • Vietnamese payment app, Momo, picks up Series C investment in round led by Warburg Pincus.
  • SBI Holdings and Germany’s Wefox partner to launch new insurtech venture, SBI Wefox Asia, in Japan.

Sub-Saharan Africa

  • London Stock Exchange Group honors African fintech 4G Capital.
  • Business Insider’s Pulse reviews the top lending platforms in Nigeria.
  • South Africa’s Personal Finance shares a few predictions on fintech in South Africa for 2019.

Central and Eastern Europe

  • Take a look at our feature on the rise of fintech in CEE: Finding Fintech’s Future in Emerging Europe.
  • Sberbank partners with Russian supermarket chain Azbuka Vkusa to enable payment by fingerprint.
  • Allianz Bank Bulgaria partners with Software Group to launch a new digital transformation project.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Exate, FutureFlow, Anorak Join FinTech Innovation Lab London.

Around the web

  • Klarna announces collaboration with rapper Snoop Dogg.
  • OutSystems earns a spot on G2 Crowd’s 2019 Best Software Companies roster.
  • IHS Markit partners with AcadiaSoft to support initial margin management.
  • Coinbase acquires data collecting and management specialist, Blockspring.

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.

BlueVine Teams Up with Bullhorn to Help Finance Staffing Firms

BlueVine Teams Up with Bullhorn to Help Finance Staffing Firms

Online invoice factoring innovator BlueVine has teamed up with recruitment industry software provider Bullhorn to give the company’s SME customers better financing options. Bullhorn is a cloud computing firm that specializes in helping staffing and recruiting companies better serve SMEs. This new partnership will provide yet another way for the company to support the business growth of its clients.

“With BlueVine, firms can receive fast and flexible access to financing that can help them power their next phase of growth,” explained Bullhorn VP of Alliances and Business Development, Nina Eigerman. “At Bullhorn, our overwhelming focus is on helping our customers and providing them with an incredible experience as their long-term growth partners. This initiative delivers on that vision.”

BlueVine CEO Eyal Lifshitz said that the partnership with Bullhorn supports the company’s dedication to “providing working capital financing to business owners looking to simplify their cash flow and grow.” A challenge for staffing firms is that, after placing candidates, they are often required to cover payroll expenses for 30-60 days. To fund this requirement, staffing companies traditionally have relied on an array of banks, factoring companies, and payroll financing firms. This process can be expensive, time-consuming, and cumbersome.

In contrast, BlueVine offers factoring lines of credit up to $5 million, rates as low as 0.25% per week, swift approval of 24-48 hours typically, and the flexibility to choose which invoices are funded. No sign-up fees, monthly minimums or cancellation fees are required.

Mike Smith, Chief Talent Officer for CleverTerra, which uses both technologies, praised BlueVine and Bullhorn’s “streamlined solution.” He said, “I turned to BlueVine and quickly secured funds to cover payroll, smooth cash flow, and evolve my practice.” Smith called BlueVine “a great compliment to Bullhorn, which I rely on to effectively manage my day-to-day operations.”

Bullhorn was founded in 1999, and is based in Boston, Massachusetts. With more than 900 employees, the company works with more than 8,000+ staffing firms via its cloud-based platform. Art Papas is founder and CEO.

Headquartered in Redwood City, California, BlueVine demonstrated its platform at FinovateFall 2014. Last summer, the company picked up a $12 million investment from Microsoft’s venture fund, M12, and the venture arm of insurance and financial services firm, Nationwide. BlueVine has delivered more than $1 billion in funds to 10,000+ small business owners since the company’s inception in 2013.

FinovateEurope Sneak Peek: Minna Technologies

FinovateEurope Sneak Peek: Minna Technologies

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Minna Technologies is the world’s leading subscription management solution, built to be integrated with retail banks.

Features

  • Stimulate customer engagement and customer satisfaction
  • Experience new revenue streams, enabled by Open Banking
  • Learn how Minna can increase conversion rates of your core financial products

Why it’s great
Digital banking and personal finance management are moving from insights to actions. Forget about graphs and pie-charts; the real value comes when you help the customer to make a real change.

Presenter

Joakim Sjöblom, Co-Founder and CEO
Sjoblom has founded three companies over the last 10 years and spent the latest five years within fintech. As a founder of Minna Technologies, he conducted partnerships with leading retail banks.
LinkedIn

 

FinovateEurope Sneak Peek: Eurobits Technologies

FinovateEurope Sneak Peek: Eurobits Technologies

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Eurobits Technologies, founded in 2003, is the European pioneer and leader in Account Aggregation and PSD2 Services with a presence in the eurozone and Latin America.

Features

  • 100% automated, real-time and digital process using Rest APIs
  • Secure and compliant
  • Non-persistent data storage: Eurobits does not store, treat, or sell any end PII or end user data retrieved

Why it’s great
Eurobits aggregates all the financial, non-financial, and public administration records of an end user in less than a minute while compliant with GDPR and PSD2.

Presenters

Arturo Gonzalez MacDowell, CEO and President
MacDowell is a pioneer in introducing innovative services like account aggregation, electronic payments, mobile banking, and electronic invoicing in Spain. He is now part of the PSD2 API Evaluation workgroup.
LinkedIn

 

Bimal Melwani, Head of International Sales
Melwani is a fintech and PSD2 expert with over 15 years’ experience in the banking and IT sector. He leads the international expansion of Eurobits.
LinkedIn

FinovateEurope Sneak Peek: UX Design Agency

FinovateEurope Sneak Peek: UX Design Agency

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

UX Design Agency (UXDA) is the world’s first and most experienced design agency that specializes 100% in financial services, designing interfaces with its own unique Financial Design Methodology approach.

Features

  • Simple, enjoyable, and yet fully functional banking solution
  • Intuitive user flow achieved with no menu/navigation bar
  • 110% user-centered UI that delivers an outstanding emotional experience

Why it’s great
UXDA’s Light Bank dramatically differs from common financial designs. It converts dozens of banking features into a user-friendly, intuitive and attractive interface using state-of-the-art architecture.

Presenters

Alberts Pumpurs, CCO/Lead UX Architect
Pumpurs is a member of UXDA’s board. He is responsible for collaboration with dozens of financial institutions from 23 countries, delivering UX/UI solutions that engage millions of customers globally.
LinkedIn

 

Karlis Jonass, UX Architect/UX Consultant
Jonass has been leading various financial design projects within UXDA for global clients all around the globe. He is a passionate financial UX speaker and networker.
LinkedIn

FinovateEurope Sneak Peek: Taxnology Innovations

FinovateEurope Sneak Peek: Taxnology Innovations

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Taxnology’s web-based solution is designed to make tax management digital, helping taxpayers by preparing their tax returns independently from any platform, like a digital tax compliance center.

Features

  • Automated tax compliance specialist
  • Platform independence
  • Built-in tax management and analyses

Why it’s great
Taxnology manages your EU taxes automatically from an Excel file in the blink of an eye!

Presenters

László Soós, Business Development Director
Soos worked for 16 years in various leading and professional tax positions at international consulting companies like Deloitte, KPMG, and Grant Thornton, where he was country leader in tax.
LinkedIn

 

Györgyi Jenei, Managing Director
Jenei worked for 12 years in various leading and professional tax positions at international consulting and manufacturing companies like Deloitte, KPMG, Lear, and General Electric.
LinkedIn

FinovateEurope Sneak Peek: ITSCREDIT

FinovateEurope Sneak Peek: ITSCREDIT

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

ITSCREDIT is a software company specializing in credit solutions. The company will demo its upgraded, customer self-service, lending app that allows users to be their own financial manager.

Features
This app is focused on simplifying and matching digital customer journeys, clear and transparent communication with specialists, and integration with third parties including all PSD2 and Open Banking APIs.

Why it’s great
ITSCREDIT will show how credit contracting and its management can be easily made by the client. The solution allows the user to interact in real time, purchase new products, and manage the workflow of all their credit processes.

Presenter

Sara Martins, Business Developer
Martins’ experience in international events for digital transformation in financial services allowed her to specialize in the fintech area, which demands enthusiastic professionals as herself.
LinkedIn

 

Vasco Oliveira, Credit Consultant
Based on his expertise in the functional aspects of credit solutions, Oliveira is the right choice to present ITSCREDIT’s solutions at FinovateEurope.
LinkedIn

FinovateEurope Sneak Peek: Secfense

FinovateEurope Sneak Peek: Secfense

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Secfense creates an intermediary security layer, making it super easy to introduce any two-factor authentication method or other user access policies without developers, contractors, or third-party code.

Features

  • Enabling of any two-factor authentication method on any business app
  • Customizable micro authorizations on any stage of the app
  • Zero development costs and deployment in just minutes

Why it’s great
Organizations no longer need to worry about phishing and credential theft because every app and every process can easily be protected with strong 2FA.

Presenters

Tomasz Kowalski, CEO and Co-Founder
Kowalski is experienced in IT, B2B sales in banking, and e-commerce. He introduced hi-tech startups to the Polish market, and migrated high-profile institutions’ entire infrastructure to the cloud.
LinkedIn

Marcin Szary, CTO and Co-Founder
Szary is a tech professional with a focus on the security and identity management space. He has served as CTO for multiple startups in mobile, telecom, and security spaces.
LinkedIn

Finovate Alumni News

On Finovate.com

  • BlueVine Teams Up with Bullhorn to Help Finance Staffing Firms.

Around the web

  • Avaloq announces doubling the size of its London office.
  • Entrepreneur Network partner Mars Discovery District interviews Horizn CEO, Janice Diner.
  • Qatar National Bank (QNB) the largest financial institution in the MENA region to deploy IGTB’s corporate banking platform.
  • Lendio earns spot as top financial services brand on Entrepreneur’s Franchise 500 roster.

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.