FinovateFall Sneak Peek: Ocrolus

FinovateFall Sneak Peek: Ocrolus
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018, FinovateFall 2018 Sneak Peek, Ocrolus

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Ocrolus has developed the fastest and most accurate technology for automating the analysis of loan documents.

Features

  • Cash flow analytics
  • Cutting-edge fraud detection
  • Traceable data validation

Why it’s great
Ocrolus is the first regtech company backed by QED Investors.

Presenters

Sam Bobley, CEO
Bobley is a natural entrepreneur and co-founder of Ocrolus.
LinkedIn

Kevin Bailey, Director of Business Development
Bailey was Presidential appointee to the Treasury who has since devoted himself to fintech.
LinkedIn

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FinovateFall Sneak Peek: Lomsy

FinovateFall Sneak Peek: Lomsy
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018, FinovateFall 2018 Sneak Peek, Lomsy

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Lomsy brings credit closer to underbanked people with a low score, promoting their financial and social inclusion with personal loans and financial education.

Features

  • Fair: assesses creditworthiness with a multi-dimensional methodology
  • Easy: built by and for the Hispanic community
  • Fast: offers a 5-minute application process

Why it’s great
Lomsy works by the motto you are not a score by leveraging technology to empower underbanked people with credit and financial education.

Presenters

Enrique Huesca, CEO
Huesca is passionate about financial inclusion for Hispanics and holds more than 10 years of experience in high-level cabinet positions in the Mexican government.
LinkedIn

Jose Ramon Pardinas, CMO
With more than 10 years of experience in marketing, Pardinas’ career has taken him to work in both the creative and executive areas with an international perspective.
LinkedIn

Enrique Castro, CFO
With more than five years of experience in economics and a background in applied math, Enrique enjoys working with data to understand the underbanked, develop underwriting strategies, and improve processes.
LinkedIn

 

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FinovateFall Sneak Peek: CASHOFF

FinovateFall Sneak Peek: CASHOFF
By Julie Muhn (@julieschicktanz) Posted on
Categories: CASHOFF, FinovateFall 2018, FinovateFall 2018 Sneak Peek

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Inspired by creating a real value for banks’ customers, CASHOFF delivers strongly differentiated loyalty programs and tools for user experience enhancement with a granular approach based on transactional data.

Features

  • AI-powered cashback to banks’ customers by big-name brands
  • Comprehensive transactional data collection, enrichment and in-depth analysis
  • White label tools and gamification to amplify engagement

Why it’s great
Emerged consumer behavior patterns enable the anticipation of customers’ needs. Thus banks win increased loyalty, transactional activity, a tool for selling banking products, and new revenue streams.

Presenters

Lina Maria Perez, Sales Director
Perez is responsible for seeing the relationship from initial meeting to full integration. She’s also involved heavily in the marketing strategies and project management of all global operations.
LinkedIn

Billy Leung, Business Development Director
Leung is the director with extensive international expertise in digital banking and finance. He is also an entrepreneur having started his first business at the age of 8.
LinkedIn

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FinovateFall Sneak Peek: Namaste Credit

FinovateFall Sneak Peek: Namaste Credit
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018, FinovateFall 2018 Sneak Peek, Namaste Credit

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Namaste Credit is the leading Indian marketplace for SMB and mortgage loans. Globally, the company licenses tools on a SaaS basis, including its AI Video CAM.

Features

  • Video-based tool that ensures high-quality document image capture
  • Built-in, automated banking track record and cash flow analytics
  • Easy to integrate into any mobile app

Why it’s great
Namaste Credit’s solutions, including its AI Video CAM, bridge the offline and digital worlds providing dense high-value data while being super-simple for customers to use.

Presenters

Lucas Bianchi, CFA, CEO & Co-Founder
Bianchi built and sold analytics outsourcing firm CopalAmba to Moody’s for $500 million. Prior to that, he analyzed and financed tech companies on Wall Street for 10 years. He holds a BA in Economics from Dartmouth College.
LinkedIn

Gaurav Anand, CFA, FRM, COO & Co-Founder
Anand analyzed and priced portfolios worth several billion at Credit Suisse, HSBC, and GE Capital. He has advised large institutions on SME portfolio risk at Moody’s, and holds an MBA from NMIMS, Bombay.
LinkedIn

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FinovateFall Sneak Peek: ING Bank Slaski

FinovateFall Sneak Peek: ING Bank Slaski
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018, FinovateFall 2018 Sneak Peek, ING Bank Śląski

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

ING Bank Slaski’s ING Invoice Financing is a simple and 100% online tool allowing entrepreneurs and small companies to receive their money earlier, in just a few clicks, without leaving the office.

Features

  • Fully online
  • Simple and user friendly
  • Instant credit decisions

Why it’s great
It’s an innovative online tool that enables entrepreneurs and small companies to manage their liquidity issues.

Presenters

Ewa Szerszen, Deputy Press Spokesperson
Szerszen is a communications specialist with more than 10 years of experience in media relations and corporate communication. She is responsible for shaping public relations and external communication for ING in Poland.
LinkedIn

Maciej Bukowiec, Product Owner – Corporate Clients Business Line
Currently the product owner at ING Innovation Lab, Bukowiec is responsible for developing and delivering banking and beyond banking solutions.
LinkedIn

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FinovateFall Sneak Peek: AI Foundry

FinovateFall Sneak Peek: AI Foundry
By Julie Muhn (@julieschicktanz) Posted on
Categories: AI Foundry, FinovateFall 2018, FinovateFall 2018 Sneak Peek

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

AI Foundry is creating a one-office, future-ready, and frictionless mortgage process with Agile Mortgages.

Features

  • Reduces risk and cuts time to close a loan in half
  • Increases pull through ratio by 50%
  • Reduces time-to-close by 50%

Why it’s great 
AI Foundry’s solution brings together the lending front and back office, creating a digital office to streamline and automate the entire mortgage process.

Presenters

Steve Butler, Founder and President
As a leader with a track record of building growth-oriented companies, Butler heads AI Foundry, an AI/machine learning startup focused on automating complex processes.
LinkedIn

Adam Lombardo, CIO
Lombardo is improving the borrower mortgage experience as chief information officer at Atlantic Home Loans.
LinkedIn

Alla Eizenberg, Solution Architect
Eizenberg has 20 years of software product and solution experience in varying roles including software development, continuous engineering leadership, solution management, and architecture and pre-sales consulting.
LinkedIn

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FinovateFall Sneak Peek: Modelshop

FinovateFall Sneak Peek: Modelshop
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018, FinovateFall 2018 Sneak Peek, Modelshop

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Modelshop is a low-code platform that enables business analysts to create analytic applications that manage customer risk and optimize profitability.

Features

  • Connect financial customer data from across the enterprise
  • Create risk, profitability and pricing calculations without coding
  • Deploy real-time customer treatment APIs that drive action

Why it’s great
Modelshop’s vision is to empower citizen developers to quickly create and deploy analytic applications in a collaborative, low-code platform.

Presenter

Tom Tobin, Founder and CEO
Tobin has held CTO level technical as well as business leadership roles at General Dynamics, FICO, Oracle, HP and Fiserv, delivering innovative analytic application platforms.
LinkedIn

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Finovate Alumni News

By David Penn Posted on
Categories: AI Foundry, CASHOFF, Fiserv, ING Bank Śląski, Insuritas, Lomsy, Modelshop, Namaste Credit, Ocrolus, PayPal, PaySend, Promontech, Tinkoff Credit Systems, Xero

On Finovate.com

  • Fiserv Helps Bring Voice Banking to the Aloha State.

Around the web

  • PromonTech to unveil its new income engine, Income AI, next week.
  • PayPal introduces cashflow boosting solution for small businesses, Funds Now.
  • The Paypers interviews Ronnie Millar, PaySend’s Europe CEO.
  • Hedge fund manager John Hempton tells The Australian Financial Review that Xero could become a $100 billion business.
  • Insuritas teams up with 42,000+ member Enrichment Federal Credit Union.
  • Global Finance sits down for a conversation with Tinkoff Bank VP Maxim Evdokimov.

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.

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Kasasa Unveils New Compliance Solution, RegGen

Kasasa Unveils New Compliance Solution, RegGen
By David Penn Posted on
Categories: Kasasa

The company that began the year offering the only loans with take-backs is now entering the regtech space with its latest compliance tool, RegGen. The solution from multiple Best of Show winner Kasasa enables banks and credit unions to easily create the account holder disclosures and marketing disclaimers that are a required component of the firm’s checking and savings accounts.

All FIs need to do to create the necessary language is respond to a set of simple, set-up questions (nine for marketing products, two for account holder disclosures). Those responses are stored by RegGen and automatically added to the FIs’ disclosure and marketing statements. Banks can use their FIRSTBase credentials to access and download Kasasa’s reference manual which includes instructional videos on how banks can make the most of RegGen’s features.

Calling the current compliance drafting process “research-intensive, time-consuming and expensive” for many FIs, Kasasa CEO Gabe Krajicek said. “With RegGen, our clients’ marketing and compliance professionals have compliance at their fingertips. Now they can create, edit and customize disclosures and disclaimers in minutes rather than hours.”

In its statement, the company also noted that RegGen provides “responsible guidance” but does not replace the guidance from a compliance officer or consultant, or from legal counsel.

Founded in 2005, Kasasa demonstrated its Kasasa Loans product at FinovateSpring 2018, winning its fourth Best of Show award. Earlier this month, the company announced that its Free Kasasa Cash Rewards Checking product was live with Michigan-based Chief Financial Credit Union. Last month, the Austin, Texas-based company announced that its MoneyIsland financial education game (for which Kasasa won Best of Show in 2011) helped ESB Financial to win Honorable Mention at the 2018 National Community Bank Service Awards. And this spring, Kasasa partnered with fellow Finovate alum MicroStrategy, integrating its product research and marketing tools into Kasasa’s business intelligence platform, Insight.

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Chain Rebrands to Interstellar Following Acquisition

Chain Rebrands to Interstellar Following Acquisition
By Julie Muhn (@julieschicktanz) Posted on
Categories: Chain.com, Mergers & Acquisitions

Earlier this year, we reported that cryptographic ledger company Chain was in talks to be acquired by blockchain technology platform Stellar. Today, Chain announced that the deal has been finalized, and that it is retiring the Chain brand and rebranding to Interstellar.

Interstellar brings Chain together with Lightyear, which Stellar launched in 2017 to design and develop the Stellar protocol and create an open source reference for the Stellar network. Interstellar leverages Lightyear’s functionality and blends it with Chain’s enterprise products and customer base. Combined the two companies offer a platform that makes it easier for large enterprises to build on Stellar.

Adam Ludwin, who has served as CEO of Chain since the company’s launch in 2014, will transition to the role of Interstellar CEO. “Chain has admired Stellar for years, and from day one we’ve shared their goal of enabling financial assets to move seamlessly over the internet,” said Ludwin. “Chain has worked from inside the enterprise while Stellar has focused on the network between organizations. As a single team we will have a complete view and set of capabilities to make value-over-IP a reality.”

Chain’s product offerings will become part of Interstellar’s product portfolio. The portfolio will also include StellarX, a marketplace where users can trade assets on Stellar.

Interstellar will be headquartered in San Francisco with offices in New York and San Francisco. The new organization will employ 60 people. Jed McCaleb, founder of Stellar, will serve as Interstellar CTO.

Ludwin showcased at FinDEVr San Francisco 2015, where he gave a presentation titled, The Blockchain Is Eating Financial Services. Earlier this year, Forbes listed Chain on its Fintech 50 roster that highlights the top private fintechs that have operations, customers, or impact in the U.S. Before its acquisition, Chain had raised more than $43 million from notable investors including Khosla Ventures, RRE Ventures, Nasdaq, Visa, Citi Ventures, and Thrive Capital.

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Finovate Alumni News

By David Penn Posted on
Categories: Chain.com, Green Key Technologies, Kasasa, LendingTree, Temenos, TransferWise, Zopa

On Finovate.com

  • Chain Rebrands to Interstellar Following Acquisition.
  • Kasasa Unveils New Compliance Solution, RegGen.

Around the web

  • GreenKey and IPC add new co-development agreement to their partnership.
  • TransferWise announces its second profitable year amid annual revenue growth of more than 75%.
  • Praxia Bank of Greece to leverage Temenos‘ T24 core banking system to support its SME lending business.
  • TechCrunch: LendingTree is the secret success story of fintech.
  • Zopa listed for 5th consecutive year in The Sunday Times Tech Track 100.

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.

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Webinar: Payments Must Lead the Way for Bank and Credit Union Digital Transformation Strategy

By Sophie Cater Posted on
Categories: Payment Cards, Payment Data Systems

Like the rest of the industries, financial services industry will go through complete digital transformation, the task is daunting and bankers need to identify and accelerate which parts to transform first – payments by far is the highest frequency interaction consumers have with their banks and credit unions. Hence it is natural, that this is the area which must be a priority for all financial institutions and creates immense opportunities for those who take the lead. In this webinar we discuss why traditional payment methods must transform to digital form and how this is being done, creating Digital touchpoints on how consumers and merchants interact with payments which are crucial for issuers as they are now the preferred way to drive commerce. The speakers  share how to digitally transform the entire card business and to compete, why payment business executives need to provide compelling digital experience(s) that are underpinned by fast, digitized, real-time and interactive processes.

Join Peter Wannemacher, Forrester; Gary Singh, Ondot Systems and Braden More, Wells Fargo & Company.

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