Finovate Alumni News

By David Penn Posted on
Categories: Ayasdi, Bambu, CardFlight, Corezoid, ebankIT, Ellie Mae, Eltropy, Enterprise Engineering, Experian, LoanScorecard, Moxtra, Onfido, PasswordPing, Roostify, Sezzle, ThetaRay
On Finovate.com CardFlight Launches SwipeSimple Customers to Support Card Data Management. Roostify Teams Up with Ellie Mae to Boost Efficiency in Mortgage Lending. Around the web Experian and Close Brothers Retail Finance pilot Mobile for Credit service for U.K. gamers. New Penn Financial goes live with Portfolio Underwriter from Loan Scorecard. PasswordPing earns finalist spot in 2018 "Innovation Quotient" IQ Awards. Ukraine's Akhmetov Bank leverages Corezoid's cloud-based operating system. ebankIT and Enterprise Engineering forge strategic partnership for the North American market. Bambu, Eltropy, Moxtra, and Onfido are among the startups selected for Plug and Play Singapore's inaugural fintech and insurtech program. TECHdotMN profiles Sezzle founder and CEO, Charlie Youakim. Forbes Middle East highlights Ayasdi and ThetaRay in look at how AI is helping solve financial crime. 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…

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Cryptocurrency Firm Circle to Acquire SeedInvest

By David Penn Posted on
Categories: Mergers & Acquisitions, SeedInvest
Goldman Sachs-backed cryptocurrency start-up Circle will acquire SeedInvest, an equity crowdfunding platform and broker-dealer, reports Antony Peyton of Fintech Futures (Finovate's sister publication). The firm said this acquisition will accelerate its plans for a token marketplace that enables businesses and individuals to raise capital and interact with investors using open crypto rails and infrastructure. This acquisition and planned new offerings are subject to the U.S. Financial Industry Regulatory Authority (FINRA) approval. Financial details have not been disclosed. Headquartered in New York City, SeedInvest has the “largest” equity crowdfunding platform in the country. To date, SeedInvest has helped hundreds of start-ups raise capital online and has a network of over 200,000 investors. In addition, the company has generated triple-digit annual revenue growth while reaching profitability. Circle said the SeedInvest product includes capabilities needed for executing regulated crowdfunding, such as start-up due diligence, securities issuance, investor accreditation, payments, and securities custody. With…

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Lights! Camera! Demo! Check Out the Action from FinovateFall!

By David Penn Posted on
Categories: FinovateFall 2018
  We understand completely. As the nights start to get longer and the coolness of autumn takes hold, that "curl up by the fire and watch demo videos from FinovateFall" feeling becomes almost irresistible. That makes us all the more thrilled to announce that every minute of every demo from FinovateFall is now available for viewing - free of charge - in the Finovate Video Archives. Rewatch your favorite moments or check out some of the demos you might have missed! By way of a sampler, here are the demo videos of the five companies that won Best of Show (as voted by the audience). Banzai! Bond.AI Bumped Golden  Meniga  

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Mitek, NetGuardians, WorkFusion
Around the web Reuters: Mitek rejects takeover offer from hedge fund Elliott Management Corp’s software company ASG Technologies. WorkFusion launches RPA Express Pro. NetGuardians makes the Chartis Risktech Quadrant for enterprise fraud technology 2018. 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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PayPal’s Walmart Partnership Makes a Move for the UnderBanked

By Julie Muhn (@julieschicktanz) Posted on
Categories: PayPal
While many view Walmart as simply a retailer, millions of Americans rely on the company as their main source for financial products. Walmart offers a variety of debit and credit card options, as well as services such as money transfers, remittances, check cashing, tax preparation, and billpay. So it's no surprise to see that PayPal has joined forces with the retailer today to fortify services for their joint customers. As part of the partnership, PayPal users will be able to withdraw and deposit cash into their PayPal account at one of Walmart's 5,000 brick-and-mortar stores. In addition, PayPal Cash Mastercard customers can access their cash balance using Walmart service desks, ATMs, and cash registers. This is the first time PayPal users have had the flexibility to transact in cash, but it comes at a cost. Each cash transaction is priced at a flat, $3 service fee. The parties have not disclosed how…

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Fighting for Customers: Will Tech Giants or Big Banks Win the Data War?

By David Penn Posted on
Categories: FinovateAsia 2018
For years, Chris Skinner, Chairman, Financial Services Club and publisher of the Finanser blog, sounded the alarm that financial institutions need to do more when it comes to winning "the data war." This summer he wrote: A big bank with legacy architecture can only tell customers what they've spent. Their back office systems are purely transactional ledgers of past payments. There is no intelligence, forecasting, predictive analytics or machine learning about customer behaviours, because the data is all fragmented across multiple, legacy, product-focused, silo-structured systems. Skinner warned that this issue represented " the big banks soft underbelly and a weakness that the young start-ups are clearly focused upon exploiting." In his keynote address at FinovateAsia later this month - If the Future is a Battle for Customer Data & Insight Will the Tech Giants Be the Victors? - Skinner will share his insights on how the market for customer data is…

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Betterment, BLUERUSH, Flybits, PayPal, SumUp, Tradeshift
On Finovate.com Fighting for Customers: Will Tech Giants or Big Banks Win the Data War? PayPal’s Walmart Partnership Makes a Move for the UnderBanked Around the web UK payments startup SumUp launches a 3G-powered credit card reader. Worldpay extends real-time payouts to 50+ countries. TD Bank Group and Flybits expand Canadian banking technology relationship to provide TD customers enhanced, personalized mobile experiences. Bloomberg highlights Betterment. BlueRush lands co-selling agreement with Valeyo’s network of more than 95 Canadian financial institutions. Tradeshift teams with credit insurer Coface to ensure greater financial transparency between buyers and suppliers. 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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CUneXus Teams with Kasasa

By Julie Muhn (@julieschicktanz) Posted on
Categories: CUneXus, Kasasa
Lending automation platform CUneXus announced that community banking marketing provider Kasasa has integrated with its cplXpress offering. Under the agreement, banks can leverage CUneXus' technology to generate and extend approved offers for multiple loan types, including the Kasasa Loan, which enables borrowers to pay off their loan ahead of time and take back a portion of the funds they've paid off if they need it. CUneXus' cplXpress will allow eligible borrowers to instantly access their Kasasa Loan. “Our goal is to enable lenders to deliver the simple, personalized, mobile-friendly experience consumers expect,” said Dave Buerger, CEO of CUneXus. “With cplXpress, lenders can let their customers shop, borrow and buy in just seconds--speeding up the process and creating a superior customer experience. We’re extending this service to now include Kasasa Loans, allowing financial institutions to expand their loan options and offer something unique.” Kasasa showed off its new loan product at FinovateSpring earlier…

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PayActiv More than Doubles its Funding with Fresh $20 Million

By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, PayActiv
Employer-provided financial wellness platform PayActiv is receiving some wellness of its own this week in the form of $20 million. The Series B financing round was led by Generation Partners, with contributions from existing investors  Ziegler Link•Age Fund II and affiliate funds of Softbank Capital. Combined with its previous investments totaling $13.5 million, today's round more than doubles PayActiv's total funding, which now adds up to $33.5 million. PayActiv will use today's investment to expand its platform, accelerate growth, and develop more financial solutions for workers across the globe. Mark Jennings, Managing Partner at Generation Partners, said that his firm chose to invest because it believes PayActiv has "the potential to positively change the lives of millions of workers, while also growing a profitable and successful business.” The California-based company has experienced significant growth since its launch in 2012, expanding six-fold in the past year alone. Contributing to that growth was…

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Adobe, Braintree, IdentityMind Global, Meniga, PayActiv, PayPal
On Finovate.com PayActiv More than Doubles its Funding with Fresh $20 Million. Around the web IdentityMind Global selects Oracle Cloud Infrastructure to host its trusted digital identities regtech platform Adobe launching Magento Payments with PayPal's Braintree for payment processing. Tangerine partners with Meniga for digital banking. 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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Klarna Rakes in $20 Million in Fall Funding Round

By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Klarna
Online payments innovator Klarna landed a strategic partnership along with a new round of funding this week. The Sweden-based company has partnered with fashion retailer H&M, which has invested $20 million in Klarna, bringing its total funding to almost $682 million. Klarna, which is already partnering with retailers such as Ikea and ASOS, will work together with H&M to offer omni-channel payments, provide an in-app post-purchase service, and power payments for H&M's digital loyalty program, H&M Club. As a result, millions of H&M customers across 14 countries will benefit from a simplified and more personalized payment experience. The retailer will go live with the U.K. and Sweden markets in 2019. In the press release, Sebastian Siemiatkowski, CEO and co-founder of Klarna said, "Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy. This partnership is rooted…

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FinovateAsia Sneak Peek: Top Image Systems

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2018, FinovateAsia 2018 Sneak Peek, Top Image Systems
A look at the companies demoing live at FinovateAsia on October 29 and 30, 2018 in Hong Kong. Register today and save your spot. Top Image Systems (TIS)'s eFLOW Intelligent Capture is designed to operate in high-volume situations, regardless the scale of most companies’ non-structured data capture challenges. TIS’ eFLOW Intelligent Capture provides data extraction with machine learning, a branch of AI, and dynamic redaction - it helps companies thrive in the digital age. Why it's great TIS’ eFLOW Intelligent Capture is able to manage the broadest collection of content formats and sources. Its configurable platform is able to address ever-changing business needs over time. Presenters Wei Hao Goh, Head, Technical Account Manager Providing thought leadership to operation leaders across various industries, Goh leverages his expertise in intelligent document content capture and processing to help firms succeed on a global scale. LinkedIn Jimmy Chim, Technical Account Manager With over seven years' experience improving operational…

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