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Finovate Global: Fintech News from Around the World

By David Penn Posted on November 7, 2018
Categories: Finovate Global

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. Central and Eastern Europe Tinkoff Bank launches its Tinkoff Mortgage mobile application for its mortgage customers and partners. Emerging Europe looks at the growth potential of the Romanian fintech market. Government of Ukraine announces plans to legalize cryptocurrencies within three years. Middle East and Northern Africa Emirates NBD launches its API sandbox. Arab Bank for Investment and Foreign Trade (Al Masraf) licenses Temenos‘ Learning Community Engine. Bahrain's Ahli United Bank (AUB) signs up for merchant acquiring solutions from Arab Financial Services (AFS). Alejma's Alarabi Bank (AAB) of Libya picks Temenos' T24 core banking system as part of infrastructure renovation. Central and South Asia State Bank of India (SBI) to build card acceptance and digital…

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on November 7, 2018
Categories: CardFlight, Equifax, Experian, Fiserv, Mitek, On Deck Capital, PaySimple, WeInvest

On Finovate.com CardFlight Aligns with Payscape to Expand Merchant Base. Around the web PaySimple announces latest payment integration with MarketSharp's CRM software. Equifax selects Experian to provide customers free credit monitoring through its TrustedID Premier service. QuotePro and Fiserv partner to speed credit for cash payments at self-service kiosks. Singapore-based WeInvest expands to UAE. PYMNTS: OnDeck loan origination volume increased double digits YoY and sequentially, the volume up 22% from the 2017 third quarter Mitek appoints Max Carnecchia as CEO. 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.

Meniga Lands $3.4 Million from Íslandsbanki

By Julie Muhn (@julieschicktanz) Posted on November 6, 2018
Categories: Funding, Meniga

In its third round of funding this year, digital banking and marketing startup Meniga has taken in $3.4 million (€3 million) from Íslandsbanki. The financial backing, which follows Swedbank's $3.7 million investment in April and UniCredit's $3.6 million strategic funding in June, brings Meniga's total funding to just over $34 million. Íslandsbanki is Meniga's first and longest-standing client. The two have been collaborating since 2009 when they launched a PFM solution in Europe. Furthering their ties, Íslandsbanki and Meniga teamed up to deploy a new card-linked offer platform in June of last year. Meniga will use the funds to enhance research and development efforts to further build out its products. Íslandsbanki CEO Birna Einarsdóttir noted that the investment not only deepens the bank's relationship with Meniga, but that it is also aimed at, "investing in the future development of innovation in digital banking and personal financial management solutions.” "The banking landscape is evolving…

TransferWise Teams Up with Dutch Digital Bank bunq

By David Penn Posted on November 6, 2018
Categories: TransferWise

TransferWise has bunq in the trunk. International money transfer specialist has a new partner in Dutch challenger bank bunq, which announced today that it is integrating with TransferWise's API to enable its customers to send money in up to 15 different currencies directly from the bunq app. "Our mission is to free our users from borders and barriers in traditional banking, such as hidden fees," bunq CEO Ali Niknam said. "We think TransferWise is a valuable addition to solidify that mission." Founded in 2015, bunq is headquartered in Amsterdam, Netherlands. Bunq users will also benefit from access to real exchange rates, TransferWise's transparent and competitive fees, and fast transfer speeds - the latter courtesy of the instant SEPA payment system that shortens the time it takes EUR to GBR transfers, for example, from days to minutes. "In the future," TransferWise noted in a blog post announcing the partnership news, "it…

CredoLab, GoBear Launch Credit Solution for the Underbanked

By David Penn Posted on November 6, 2018
Categories: CredoLab

A collaboration between alternative credit scoring specialist CredoLab and personal finance comparison site GoBear will make it easier for the underbanked to get access to credit. A new smartphone app, Easy Apply, will leverage CredoLab's credit assessment technology to serve underbanked markets of Indonesia, Philippines, Thailand, and Vietnam. Easy Apply leverages CredoLab's predictive credit scorecard solution to the help thin-file applicants access unsecured credit products including credit cards and personal loans. The AI-powered technology extracts and analyzes data from the user's smartphone to make highly-predictive behavioral insights. These insights are used to build customized credit risk scorecards that are tailor-made for individual lenders and specific products. This enables lenders to benefit from access to creditworthy borrowers who might otherwise be overlooked by traditional credit risk assessment strategies. "We are excited to be partnering with GoBear to help banks profitably serve their customers including the underbanked," CredoLab co-founder and CEO Peter Barcak…

FinovateAfrica Sneak Peek: RattleHub

By Julie Muhn (@julieschicktanz) Posted on November 6, 2018
Categories: FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek, RattleHub

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. RattleHub understands that lives are digital and extremely fragmented. Everyone deals with unnecessary cost and risk as a result. This needs to change, and when it does, it will be a wonder why it was tolerated for so long. Features One view of all assets, liabilities, documents, and data Seamless integration with clients' trusted partners and service providers Peace of mind that everything is in order for the client's family Why it's great Those banks, wealth advisors, insurance companies, etc. that best serve their clients will triumph over their competitors. Seamless integration with this emerging ecosystem drives retention and growth. Presenters Steve Watt, Chief Revenue Officer Watt leads global sales, marketing, and customer success from RattleHub's head office in Canada. LinkedIn Gary Goetsch, Chief Technology Officer Goetsch…

FinovateAfrica Sneak Peek: NF Innova

By Julie Muhn (@julieschicktanz) Posted on November 6, 2018
Categories: FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek, NF Innova

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. NF Innova provides a unique banking solution to visionary financial institutions by delivering a rich and seamless customer journey on any digital channel. Features Opti-channel digital banking platform Full process automation and digitalization Real-time mobile app changes without redeployment of a new version on app stores Why it's great The NF Innova platform is providing banks with a unique possibility to make real-time changes and create tailor-made segmentation within a native mobile app without publishing a new version in app stores. Presenters Eldar Banjica, Board Member With over 20 years of experience in leading teams and companies of various sizes, Banjica is in charge of the company's strategy and global business development. LinkedIn Vladimir Stojić, Technical PreSales Consultant Stojic has been consulting with banks on end-to-end,…

FinovateAfrica Sneak Peek: CybiWealth

By Julie Muhn (@julieschicktanz) Posted on November 6, 2018
Categories: CybiWealth, FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. CybiWealth is a simple and intuitive investment app enabling individuals to own shares directly in leading global companies such as Coca-Cola, Nestlé, L'Oréal, and more. Features Electronic onboarding and identity verification process Direct share ownership in leading global companies Invest via bank card through a mobile app Why it's great CybiWealth offers a simple, intuitive, and cost-effective way to own shares directly in leading global companies. Presenter Scott Cooper, CEO Cooper is a mathematics graduate and a former analyst in the Lloyd’s market. He has 5 years of experience in the investment management industry, is a chartered financial analyst, and has served as CEO of CybiWealth since its inception. LinkedIn

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on November 6, 2018
Categories: AlphaPoint, CredoLab, CybiWealth, Fenergo, Jack Henry, Meniga, NF Innova, RattleHub, Temenos, TransferWise, Trulioo

On Finovate.com CredoLab, GoBear Launch Credit Solution for the Underbanked. Meniga Lands $3.4 Million from Íslandsbanki. TransferWise Teams Up with Dutch Digital Bank bunq. Check out sneak peeks of upcoming FinovateAfrica demos: RattleHub NF Innova CybiWealth Around the web Jack Henry's Symitar Credit Unions expand outsourcing initiatives. Trulioo expands European operations with new presence in Dublin. Arab Bank for Investment and Foreign Trade (Al Masraf) licenses Temenos' Learning Community Engine. Fenergo expands into private banking and wealth management. AlphaPoint integrates stablecoin TrueUSD into its exchange network. 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.

Credit Karma Acquires Noddle to Launch in the U.K.

By Julie Muhn (@julieschicktanz) Posted on November 5, 2018
Categories: Credit Karma, Mergers & Acquisitions

Just a month after unveiling its new auto insurance tool, financial health company Credit Karma announced it is once again expanding-- this time across country borders. Prompting this move is the San Francisco-based company's acquisition of Noddle, a startup headquartered in the U.K. that offers users free access to their credit report. Credit Karma made the purchase from TransUnion, which received Noddle as a part of its purchase of CallCredit for $1.4 billion in April of this year. The financial terms of the agreement are not disclosed but it appears to be purely cash-based; TransUnion is not taking any stake in Credit Karma. The deal is expected to close later this year or early next year. “Noddle’s similar mission and history as the first provider of free credit information in the U.K. made this a clear decision for Credit Karma,” said Credit Karma’s VP of International, Valerie Wagoner. “We’re confident our depth…

Experian Unveils New Credit Assessment Solution, Experian Credit 3D

By David Penn Posted on November 5, 2018
Categories: Experian

Experian is launching a new range of consumer credit assessment products for lenders, Experian Credit 3D, reports Henry Vilar of Fintech Futures (Finovate's sister publication). The product offers a multi-dimensional view of a borrower’s financial health, instead of a consumer’s credit information at a single point in time. The firm aims to deliver “a more granular and predictive insight into a consumer’s payment behavior”. Business will be able to combine rental, utilities, council tax, property and mobile data, to provide a view of predictive behaviour and affordability. “A customer’s current credit position only ever tells part of the story. People’s financial circumstances are multidimensional and unique,” said Tom Blacksell, managing director of B2B at Experian. “We are supporting our customers as they look to keep up with a diverse and ever-changing global population.” The firm that said that moving away from traditional risk scores by augmenting them with a view…

Finovate Alumni News

By David Penn Posted on November 5, 2018
Categories: Betterment, Check Point, Credit Karma, Finastra, Flywire, Moneyhub, Outsystems, Roostify, Trulioo, Unison, wipro

On Finovate.com Credit Karma Acquires Noddle to Launch in the U.K. Around the web Moneyhub announces integration with PensionBee API. Outsystems unveils new program, outsystems.ai, to leverage AI and machine learning to improve software development. Finastra introduces Open Banking Readiness Index for Asia Pacific region. Trulioo reports ability to verify five billion people via its identity verification platform, Global Gateway. Wipro collaborates with Check Point Software to offer cloud security services. Unison expands with Goldwater Bank Partnership. Flywire partners with the Dallas-Fort Worth Hospital Council to offer members payment solutions. How I Built This podcast features Betterment founder Jon Stein. Roostify names Courtney Keating Chakarun as new Chief Marketing Officer. 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.