Finovate Alumni News

On Finovate.com

  • Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership.

Around the web

  • NCR Launches Omni-Commerce Payment Solution for European Retailers and Restaurants.
  • InComm Partners with Kapsch TrafficCom on RiverLink.
  • Sberbank hires robot Anna to answer calls about location of ATMs and Sberbank offices.
  • Baker Hill releases the latest developments for Baker Hill NextGen.

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.

Bazaarvoice Acquires AddStructure

Bazaarvoice Acquires AddStructure

Bazaarvoice, a startup that helps retailers find and reach consumers, has agreed to acquire Addstructure, a company that offers search and discovery apps for e-commerce merchants. The terms of the deal were undisclosed.

Addstructure’s platform, which leverages machine learning and natural language processing (NLP) to analyze customer sentiment and product reviews, helps consumers search for and discover products faster. The addition of this capability to Bazaarvoice’s offerings will strengthen consumer-generated content and bolster shopper profiles across its network. Among Addstructure’s clients are Target and Best Buy, which use the company’s technology to analyze online reviews and customer questions that influence purchase decisions.

AddStructure’s employees will join Bazaarvoice’s team. The new team members will work out of offices in New York City and Chicago, where AddStructure was founded.

In a press release, Gene Austin, CEO of Bazaarvoice said, “As consumer behavior continues to evolve, brands and retailers must keep pace with new shopping trends and technologies to deliver engaging and consumer-friendly shopping experiences.” He added that AddStructure’s NLP and machine learning capabilities are an “incredible addition” to the company’s portfolio.

Founded in 2005 and headquartered in Austin, Texas, Bazaarvoice has offices in Chicago, London, Munich, New York, Paris, San Francisco, Singapore, and Sydney. The company debuted Bazaarvoice Conversations at FinovateSpring 2012. The Conversations solution allows brands to capture, moderate, analyze, and display customer word-of-mouth in digital and mobile experiences. In November of last year, Bazaarvoice agreed to be acquired by Marlin Equity Partners, which will acquire each share of outstanding common stock of Bazaarvoice in exchange for $5.50 for a total value of approximately $521 million.

Welcome to Day Two of FinovateMiddleEast 2018

Welcome to Day Two of FinovateMiddleEast 2018

Pictured: Raja Al Mazrouei, Executive Vice President, Fintech Hive, Dubai International Financial Centre

Day One of FinovateMiddleEast is in the books – which means there is one more day of our fintech conference left to go. And while Day Two will also feature fintech insiders and thought leaders discussing issues like financial inclusion, artificial intelligence, the blockchain, and fintech regulation, the second day of FinovateMiddleEast will swap live demos with emerging and incumbent fintech players for an Accelerator Showcase.

Our special spotlight on regional accelerators and incubators will feature short, 3-minute pitches from some of MENA’s youngest and most ambitious fintech startups, and will reveal the important role incubators and accelerators play in encouraging and supporting fintech innovation. If you are interested in what the future of fintech in the Middle East and North Africa looks like, our accelerator showcase is virtually a front row seat.

Here’s a look at today’s agenda. For more details, visit our FinovateMiddleEast Day Two agenda page. And remember the Best of Show awards presentation will be held this afternoon.

8:00 – 9:00: Registration, Breakfast and Networking

9:00 – 9:05: Chairperson’s Opening Remarks

9:05 – 9:45: The Future of Financial Services – AI and the Use of Blockchain Globally

9:45 – 10:05: Update on Fintech Regulation

10:05 – 10:25: Fintech Unicorn Interview

10:25 – 11:20: Myth Versus Reality: Banks’ Perspectives

11:20 – 11:50: Morning Coffee and Networking

11:50 – 12:40: Panel Discussion: Financial Inclusion in the Middle East

12:40 – 13:00: Unicorn Interview

13:00 – 14:00: Lunch and Networking

14:00 – 14:20: Fintech Interview

14:20 – 15:10: Accelerator Showcase

15:10 – 15:20: Day One Revisit – What did the banks gain? What did the fintech gain? What do investors think?

15:20 – 15:30: Chairperson’s Closing Remarks and Summary

Finovate Alumni News

On Finovate.com

Around the web

  • Bank2 hires Insuritas to launch bank-owned digital insurance agency platform.
  • Kawartha Credit Union selects Fiserv to enhance the banking experience.
  • Ripple added to deVere Group’s crypto trading app.
  • TechCrunch: Ledger is working on new native apps for its cryptocurrency hardware wallet.

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.

Welcome to Day One of FinovateMiddleEast 2018

Welcome to Day One of FinovateMiddleEast 2018

FinovateMiddleEast has arrived in Dubai. Day One of our two-day fintech conference begins today, Monday, February 26. And after an afternoon and evening of practice runs and sound checks, our demoing companies are ready to introduce their latest fintech innovations to the world.

In addition to a slate of 14 fintech demos, Day One will also feature an interesting variety of keynote addresses and panel discussions from some of the region’s most engaged and knowledgable fintech business people, thought leaders, and investors. We’ve published an outline of today’s schedule below – including our dual track afternoon sessions on banking and payments on one side, and blockchain, cryptocurrencies, and AI on the other. So whether you like your fintech old school or new school, FinovateMiddleEast’s Afternoon Streams on Day One have you covered!

Tickets are still available. So if you’re in Dubai and interested in meeting some of the people who are helping build the future of fintech in MENA, FinovateMiddleEast on Monday and Tuesday is the place to be.

Here’s the schedule of events for today.

8:00  – 8:30: Registration, Breakfast and Networking

8:30 – 8:35: Chairperson’s Remarks

8:35  – 9:35: Demo Session 1 featuring

9:35 – 9:40: Panel discussion: Starter for one minute – What does a fintech want? What does a bank want? What does the investor think?

9:40 – 10:20: Keynote: What can digital bankers learn from the top innovators?

10:20 – 10:30: United Arab Emirates’ Ministry of Finance address and presentation on the fintech vision.

10:30 – 10:50: Embracing fintech innovation – past, present, and future

10:50 – 11:10: Bank CEO Panel: Driving innovation forward and the fintech global vision

11:10 – 11:40:  Morning Coffee Break and Networking

11:40 – 11:55: Introduction from the FinTech Hive at DIFC

11:55 -12:25:   Chatham House Rule Panel Discussion on Fintech regulation

12:25 – 13:15: Demo Session 2 featuring:

13:15 – 14:15: Lunch and Networking Speaker-hosted topic roundtables

Afternoon Streams: Banking and Payments / Blockchain, Cryptocurrencies, and AI

14:15 – 15:00: Panel Discussions: How far can we go with big wallets? / Results of an Interbank Blockchain Pilot

15:00 – 15:20: Panel Discussions: What do we mean by innovation? / Blockchain Approaches – Beyond UAE

15:20 – 15:40: Address: Discussing the fintech strategies of Indian banks / What’s Happening Now and What’s Next for AI?

15:40 – 16:10: Afternoon Coffee Break and Networking

16:10 – 16:40: Big bank fireside chat

16:40 – 17:10: Demo Session 3 featuring

17:10 – 18:10: Networking Reception, Topic Led Roundtables, Best of Show Awards Ceremony

All demo videos will be available for free in a few weeks in our video archives.

GreenKey Teams Up with IPC to Develop AI-Based Speech Recognition Solution

GreenKey Teams Up with IPC to Develop AI-Based Speech Recognition Solution

GreenKey Technologies, an AI-powered voice collaboration platform for financial markets, has formed a partnership with IPC to develop a solution that will convert real-time voice into useable data for financial market participants. The partnership combines IPC’s expertise in trading communications – and its cloud financial ecosystem of more than 6,000 financial market players – with the machine learning technologies of GreenKey.

Specifically, the new solution will automatically transcribe spoken conversations, extracting quotes and trades from verbal conversations by leveraging GreenKey’s patented natural language processing libraries. The new solution also will extract key terms, phrases, speaker identities as well as sentiment in order to provide accurate summaries of conversations.

Nader Shwayhat, CEO of GreenKey since March of last year, said that the agreement combined the efforts of two of the industry’s most innovative companies working in the voice software/integrated speech recognition space. “IPC and GreenKey are leading the industry into a new era of voice-driven workflows and analytics,” Shwayhat said. “We are thrilled to be working with the outstanding IPC organization and look forward to transforming the way capital markets participants manage their voice workflows.” Speaking for IPC, SVP for Product and Customer Success Don Henderson added that the announcement was “powerful news for the market.”

GreenKey and IPC have been collaborating on the new, voice-to-data solution for a year. The goal is a technology that will make it easy for IPC customers to “harvest” their audio streams and structured textual data to improve workflows for the front-, middle-, and back-office. Use cases range from integrating voice streams into compliance, surveillance, and business analytics systems to voice-populating trade tickets, capturing in-stream orders and quotes, and integrating call transcripts with CRM systems.

GreenKey Technologies participated in our developer’s conference, FinDEVr New York 2016, where members from the company’s engineering team demonstrated GreenKey’s voice workspace with biometric login, video call, instant messaging, and more. Founded in 2014 and headquartered in Chicago, Illinois, GreenKey Technologies released its voice API via OpenFin’s plug-in architecture earlier this month. The company finished 2017 by joining Symphony Software Foundation and, earlier in the year, won a patent for its speech-to-text technology and announced a partnership with voice recording technology specialist Red Box Recorders.

See Tomorrow’s Fintech Today at FinovateMiddleEast 2018

See Tomorrow’s Fintech Today at FinovateMiddleEast 2018

FinovateMiddleEast is just one day away. For the first time, Finovate is bringing its fintech conference of live demos and insightful keynotes and panel discussions to Dubai, the largest city in the UAE., to explore and learn about some of the exciting developments in fintech that are taking place in the Middle East and North Africa.

The presenters on stage are only part of what makes Finovate events special. Our conference attendees – hailing from all over the world – are a diverse collection of professionals from finance, technology, the investment world, and the fintech media. And it is often the case that the introductions made and business cards exchanged between attendees during our networking opportunities prove to be as valuable as the fintech demos and keynote addresses on stage. Take a look, for example, at the titles of our attendees for FinovateMiddleEast that we’ve aggregated into a word cloud below:

From C-level executives like CEOs, CTOs, and CIOs to heads of digital banking, cloud platforms, software development and more, Finovate audiences are a great source of fintech experience and insight in and of themselves. This is one of the reasons why we ensure that our attendees have ample opportunity to mix, mingle, and network both at the beginning and end of each conference day.

So with FinovateMiddleEast kicking off tomorrow, here are a few last minute, need-to-knows to help you make the most of your Finovate experience.

The What

FinovateMiddleEast is a two-day conference of live fintech demonstrations, keynote addresses, panel discussions, and peer networking opportunities. The event is Finovate’s first in the Middle East, and is being produced with the exclusive strategic partnership of the UAE Ministry of Finance.

The When

FinovateMiddleEast takes place on Monday, the 26th of February, and Tuesday, the 27th. Registration begins at 8am on both days. The program on Monday morning will start at 8:30 am. On Tuesday, the program will begin at 9am.

The Where

FinovateMiddleEast will be held at the Madinat Jumeirah Conference and Events Centre in Dubai, UAE. The conference and events centre is part of the Madinat Jumeirah Resort which consists of a trio of grand hotels: Jumeirah Al Qasr, Jumeirah Mina A’Salam, and Jumeirah Al Naseem.

The How

Join us in Dubai for FinovateMiddleEast by visiting our registration page and picking up your ticket. There are group discounts available, as well as discounts for members of government and regulatory entities. Check out our registration page for more information.

Also be sure to download the Finovate app – available at both the Apple Store and at Google Play. Search for “Finovate” and use the same email you used to register for FinovateMiddleEast as your login. If you are a first-time user of our app, the password is “finovate”. In the app you will find more information about our presenters, partners, and sponsors; network with your fellow FinovateMiddleEast attendees, and – importantly – vote for your favorite fintech demos in our Best of Show competition.

There is also a desktop version of the event app available at finovatemiddleeast2018.zerista.com.

The Why

FinovateMiddleEast is a great way to learn about the growing fintech scene in the Middle East and North Africa. Our live fintech demos provide an insight into the kind of challenges fintech companies operating in MENA are solving every day. Our keynote speakers and panel discussions provide the context to understand how these solutions are improving the financial lives of the more than 380 million people living in the region. For more background on fintech in MENA, a few of our thought pieces are listed below:

We are very excited to bring our fintech conference to the UAE and hope you will join us – either live here in Dubai or by following along online via our coverage on Twitter @Finovate.


The United Arab Emirates Ministry of Finance is the Exclusive Strategic Partner of FinovateMiddleEast

FinovateMiddleEast sponsors also include UAE ExchangeProfile SoftwaresimilityTemenosBlock GeminiLoxon SolutionsOrtec FinancePlug and Play Abu Dhabi Global Market

Dubai International Financial Centre is a supporting partner of FinovateMiddleEast

FinovateMiddleEast partners also include AstroLabsByte AcademyEuropean Fintech AllianceFemtech LeadersFINOLABFintech ConnectorFintech GalaxyFintech Professionals AssociationHolland FintechPlug and Play Abu Dhabi Global MarketSME Finance ForumStartupbootcampStartupbootcamp FintechSwiss Finance + Technology AssociationWomen Who Code

FinovateMiddleEast media partners include Aite GroupArabnetBankersHubBanking TechnologyBeFast.TVBig Data Made SimpleBlockchain in EuropeBlockExplorerBreaking BanksMiddle East Business ReviewCrowdfund InsiderFinancial ITFintech FinanceFintechtimeForresterGigabitHeadcountIBS IntelligenceInnovate FinanceIslamic Finance NewsMercator Advisory GroupOvumOxford Business GroupPlus JournalRainmaking ColabRFI GroupThe Fintech TimesThe Nilson ReportThe PaypersUnlock Blockchain

 

From AI to Wealth Management: FinovateMiddleEast Arrives in Dubai

From AI to Wealth Management: FinovateMiddleEast Arrives in Dubai


Image designed by Freepik

In just two days, Finovate will make its Middle East debut. The conference begins on Monday, 26 February and continues through Tuesday, 27 February, and will feature both our signature 7-minute, live demo format as well as an exciting array of fintech visionaries and thought leaders to provide insight and context into the technological innovations we’ll see over the two days of FinovateMiddleEast.

So what are we talking about when we talk about fintech in MENA? Our FinovateMiddleEast Themes Word Cloud below offers more than a few helpful hints.

Let’s take a closer look at the top three …

AI – Leveraging artificial intelligence to solve technical challenges in finance is as important for fintechs in MENA as it is all over the world. Often combined with machine learning and data analytics, AI is enabling businesses to better understand their customers, make many operational procedures faster and less error prone, and even pave the way for a world of connected devices courtesy of the Internet of Things.

Mobile Wallets – While mobile wallet adoption has been mixed in many places, in MENA mobile wallets continue to play a major role in driving mobile payments and providing opportunities for consumers – especially the un- and underbanked – to participate more easily in e-commerce as well as giving businesses such as grocery stores, gas stations, and public transit a path toward faster payment processing and a better experience for consumers.

Wealth Management – The growing population of high net worth and ultra high net worth individuals in MENA is helping generate interest in wealth management solutions. These options range from 100% robo advisory services to wealth management firms that blend technology with human experts to provide a holistic financial advisory service.

Get to know the companies whose technologies reflect these and many more innovative trends in fintech via our FinovateMiddleEast Sneak Peek series. And for more information on our keynotes speeches and panel discussions, be sure to check out our Day One and Day Two agendas.

We are excited about Finovate’s debut in Dubai and hope you will join us in person at the Madinat Jumeirah Conference and Events Centre here in Dubai, UAE, or follow us online through our Live Twitter feed @Finovate.  Registration on both Monday and Tuesday will begin at 8am with refreshments and a continental breakfast available to attendees. Opening remarks on Monday will begin at 8:30; on Tuesday the first presentation begins at 9am.


The United Arab Emirates Ministry of Finance is the Exclusive Strategic Partner of FinovateMiddleEast

FinovateMiddleEast sponsors also include UAE Exchange, Profile Software, simility, Temenos, Block Gemini, Loxon Solutions, Ortec Finance, Plug and Play Abu Dhabi Global Market

Dubai International Financial Centre is a supporting partner of FinovateMiddleEast

FinovateMiddleEast partners also include AstroLabs, Byte Academy, European Fintech Alliance, Femtech Leaders, FINOLAB, Fintech Connector, Fintech Galaxy, Fintech Professionals Association, Holland Fintech, Plug and Play Abu Dhabi Global Market, SME Finance Forum, Startupbootcamp, Startupbootcamp Fintech, Swiss Finance + Technology Association, Women Who Code

FinovateMiddleEast media partners include Aite Group, Arabnet, BankersHub, Banking Technology, BeFast.TV, Big Data Made Simple, Blockchain in Europe, BlockExplorer, Breaking Banks, Middle East Business Review, Crowdfund Insider, Financial IT, Fintech Finance, Fintechtime, Forrester, Gigabit, Headcount, IBS Intelligence, Innovate Finance, Islamic Finance News, Mercator Advisory Group, Ovum, Oxford Business Group, Plus Journal, Rainmaking Colab, RFI Group, The Fintech Times, The Nilson Report, The Paypers, Unlock Blockchain

Equifax Adds Entersekt’s Transakt Technology to Better Secure Online and Mobile Services

Equifax Adds Entersekt’s Transakt Technology to Better Secure Online and Mobile Services

Less than a week after announcing its partnership with mobile authentication and e-commerce enablement firm, ForgeRock, Entersekt is back in the fintech headlines with news that Equifax will deploy the South African firm’s Transakt solution as an additional layer to protect Equifax’s online and mobile services.

“We are excited to team up with Equifax in enhancing protection of its customers’ identities and personal data,” Entersekt’s North America SVP Sherif Samy said. “This alliance plays into our long-standing strategy of partnering with leading global companies to assist them in launching products and services that represent the best in digital innovation, usability, and security.”

Transakt supports an intuitive, one-touch authentication experience for users. The solution sends the user a real time authentication request via their mobile device whenever a digital identity or account is required. The user simply approves or blocks access by tapping “Accept” or “Reject” to enable or prevent access. Transakt uniquely identifies each registered device, ensures its continued integrity as a factor of authentication, and creates a channel between the device and the digital service provider through which identities are confirmed and sensitive digital transactions conducted.

Gaurav Khanna, SVP for Global Product Management and New Product Innovation added, “Entersekt’s market leading offering enables us to expand our trusted services to various new digital channels. Adding Transakt to our platforms provides us with a secure way to identify, reach out to, and interact with our customers.”

A participant in our 2014 developers conference, FinDEVr Silicon Valley, Entersekt’s CTO discussed cybersecurity challenges in a presentation titled, “Securing Mobile Applications through Transport Layer Diversity.” Since then, the company has partnered with FirstBank ($15 billion in assets), teamed up with multiple Finovate Best of Show winner Backbase, and worked with fellow Finovate/FinDEVr alum CREALOGIX. Founded in 2008, Entersekt is based in Stellenbosch, NA, South Africa. Schalk Nolte is CEO.

AutoGravity Announces Partnership with U.S. Bank

AutoGravity Announces Partnership with U.S. Bank

U.S Bank has just unveiled a new tool that will make it easier for auto shoppers to find the car they want and secure pre-approval – all before arriving at the dealership.

That solution comes courtesy of a new partnership with auto finance innovator AutoGravity. The Irvine, California-based fintech has helped the fifth largest bank in the U.S. build a platform at USBank.com that gives consumers looking for auto financing a straightforward process and a loan decision within minutes.

Speaking for U.S. Bank, EVP for Consumer Dealer Services John Hyatt highlighted the way AutoGravity improved the task of finding and buying a new car for both sides of the auto financing process. “We want our customers – both car buyers and dealerships – to have the best, most seamless experience possible,” Hyatt said. “This technology helps us get the buyer in the driver’s seat sooner and brings pre-approved customers to the dealership.”

The solution enables auto shoppers to choose between working with a dealership approved by U.S. Bank or with a U.S. Bank branch. Via the online tool, consumers can choose their car and dealership, apply for pre-approval, and close the loan at the dealership (or at the bank branch, depending on the option chosen) and drive home in a brand new car.

The tool is currently online only, but U.S. Bank anticipates adding the tool to the bank’s mobile app, as well as opening up the application process to used car buyers and co-applicants “in the coming months.”

“Together, AutoGravity and U.S. Bank have taken the first step on a journey to revolutionize the digital car-buying experience,” AutoGravity founder and CEO Andy Hinrichs said. “(We are) empowering U.S. Bank’s customers to finance their next car in minutes, anytime and anywhere they want.”

AutoGravity’s announcement comes less than one month after the company reported surpassing the $2 billion in financing requested milestone. Founded in 2015, and having earned a Best of Show award in its Finovate debut at FinovateFall 2016, AutoGravity is coming off a very strong 2017 that featured new partnerships with Global Lending Services and Hyundai Capital America. The company has raised $80 million in funding.

Finovate Alumni News

On Finovate.com

  • Equifax Adds Entersekt’s Transakt Technology to Better Secure Online and Mobile Services.
  • AutoGravity Announces Partnership with U.S. Bank.

Around the web

  • Diebold Nixdorf appoints Gerrard Schmid as new CEO.
  • Worldpay launches DataEdge for Financial Institutions.
  • DCU selects Digital Onboarding to simplify the new account activation process.

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.

Avaloq to Power Private Banking for KASIKORNBANK

Switzerland-based Avaloq has cut a deal today with KASIKORNBANK (KBank). The Thailand-based bank has selected the Avaloq Banking Suite to grow its private banking and wealth management offerings.

With $85.8 billion assets under management, KBank is Thailand’s leading provider of banking and wealth services to High Net Worth Individuals (HNWIs). In today’s deal, the bank has tapped Avaloq to upgrade its customer service infrastructure and improve internal processes such as client relationship management and risk management.

Jirawat Supornpaibul, KBank Private Banking Business Group Head, said, “While we have a very strong market position, we do not rest on our laurels. It is very important to invest for growth and partner with best-in-class suppliers that can give us a real competitive edge not just in terms of the customer interface but also fundamentals such as a strong internal risk management framework. This is why we have selected Avaloq to take our private banking business forward.”

This marks Avaloq’s first move into Thailand and is expected to strengthen its ties to the Asia Pacific region. Chris Beukers, head of Asia Pacific at Avaloq said, “With a well-established footprint and multiple customers in Singapore, Hong Kong and Australia, we are very pleased to be expanding to Thailand. As the Thai market continues to both expand and mature, we believe that KBank, which already has a significant market share of the domestic private banking market, will be able to strengthen its position as a market leader.”

Founded in 1985, Avaloq offers a full range of flexible banking software that boasts rapid deployment. The company’s software is currently used to manage $4.30 trillion. The company employs 2,000 people from 66 countries. Jürg Hunziker is CEO.

Avaloq will demo its newest technology at FinovateEurope next month in London. Register by the end of this week to save.