DAVO Announces Strategic Funding Round

By Julie Muhn (@julieschicktanz) Posted on
Categories: DAVO Technologies
Automated sales tax tools company DAVO Technologies landed a fresh round of funding this week. The amount was undisclosed, but adds to the company's previously-raised $5 million in venture and seed rounds. The strategic investment, which DAVO anticipates will fuel expansion, was led by Anania & Associates Investment Company (AAI). As part of this expansion, DAVO has added to its Board of Directors and boosted its operations team. Since this growth mandated the need for a larger location, the company relocated to a 5,500 square foot office space as its Maine-based headquarters. In addition to the funding, DAVO will also benefit from AAI’s human resources and financial back office services. “The investment comes with much needed infrastructure support provided by Anania & Associates,” said Owen Brown, CEO of DAVO. “The depth of experience they bring adds enormous value. In addition the investment allows us to build upon our commitment to excellence and…

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Salt Edge Serves Up Open Banking Payment Infrastructure for Testing

By David Penn Posted on
Categories: Salt Edge
Just weeks after announcing a collaboration with smart money app, Yolt, Salt Edge is back with news of another new partnership. Today, the company reported its Open Banking payment infrastructure is now available for testing by third party providers. The complete payment process can be simulated by TPPs who log into the Salt Edge system, which facilitates one-time payments, scheduled and future-dated payments, and bulk payments. The Open Banking hub is equipped with all four of PSD2-required authorization types: redirect/OAuth, embedded, decoupled, and app2app. PISP (Payment Initiation Service Provider) licensed-TPPs that elect to go live with the technology can begin the integration immediately. Lisa Terziman-Gutu (Business Development EMEA) and CEO Dmitrii Barbasura (not pictured) during their live demo at FinovateEurope 2018. Salt Edge provides financial data aggregation APIs, open banking and PSD2 solutions, as well as white label retail banking, and data enrichment services. The company demonstrated its Priora PSD2 and Open Banking…

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Cracking the Fintech Code: Secrets to Success for Start-ups

By Charlie Burgess Posted on
Categories: Startups
FinovateFall welcomed over 70 start-ups to demo exciting new products and ideas, and opened the stage to pioneering thought-leaders to discuss the future of finance, technology and how the two come together to solve real world problems. We sat down with leaders of inspiring start-ups to get their insight on what the recipe for success is this often overcrowded space. https://www.youtube.com/watch?v=Oj-8FTEqlXk Matt Armstead, Executive Director, Founding Member, Board Member, FintechAccel gives his advice to start-ups and explores why getting a great team behind the idea is critical. https://www.youtube.com/watch?v=SPe00CdHB3c& Jon Zanoff,  Managing Director, Techstars on knowing when a start-up is re ready to take a next step and join an accelerator. https://www.youtube.com/watch?v=8GCD3QJ_qPY& Pini Yukeul,  CEO of Optimove, on how AI helps with segmentation, prediction and optimization within marketing and how start-ups and established businesses can leverage it.

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Finovate Alumni News

By David Penn Posted on
Categories: Compass Plus, Earnix, Featurespace, Fiserv, HackerOne, IdentityMind Global, Ripple, Risk Ident, Salt Edge
On Finovate.com Cracking the Fintech Code: Secrets to Success for Fintech Start-ups. Salt Edge Serves Up Open Banking Payment Infrastructure for Testing. Around the web Earnix forges strategic alliance with automated machine learning innovator, DataRobot. IdentityMind Global partners with digital currency risk assessment specialist, CipherTrace. HackerOne now accepts Bitcoin and Bitcoin Cash payments for bug bounties courtesy of new partnership with BitPay. Fiserv taps Lee Cameron as new managing director for EMEA. Siam Commercial Bank is the first bank on Ripple's RippleNet to pioneer multi-hop, a feature that allows payment settlement on behalf of other financial institutions on the network. Danske Bank leverages Featurespace's ARIC fraud hub to reduce fraud. Risk Ident wins Best eCommerce Technology Innovation at the London eCommerce Awards. Banco Fassil is the first Bolivian company to migrate its ATM network to TranzAxis from Compass Plus. This post will be updated throughout the day as news and developments…

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Gro Solutions Helps Vermont FCU Deliver Better Banking Experiences

By David Penn Posted on
Categories: Gro Solutions
Members of Vermont Federal Credit Union have something to look forward to when 2019 rolls around: the $500 million asset institution has signed a deal with Gro Solutions to enhance its digital offerings, including streamlined online deposit and loan account opening. "Our goal is to create a world-class digital experience for our members with products and services that are fast, consistent, personalized, and user-friendly," Vermont FCU Director of Business Intelligence, Nicholas D. Gallerani said. He referred to Gro Solutions' platform as the embodiment of these principles, adding that the technology will provide the credit union with "the tools essential to create ... great experiences in the digital realm for our members." Vermont FCU plans to introduce the new Gro Solutions-enabled services to its more than 38,000 members in the first quarter of 2019. "More and more of today's members are going digital for their banking needs," Gro Solutions CEO David…

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Bringing Legacy Banks into the 21st Century

By Charlie Burgess Posted on
Categories: Bank Innovation
FinovateFall brought together fintech innovators from all over the world and representatives from some of the largest banks in the U.S., so naturally there were discussions around forging new partnerships and benefiting from the culture and technology shared between the different sides. We sat down with some of the key speakers to get their insights on how legacy banks and financial institutions can compete or collaborate in this new era. https://www.youtube.com/watch?v=bHMblymlmZY& Jeremy Balkin, Head of Innovation, Retail Banking & Wealth Management, HSBC USA on successful innovation projects and how to get them off the ground. https://www.youtube.com/watch?v=npiinNf4KbY& Mary Jane Ajodah, Vice President, Strategy, BNY Mellon, on how legacy banks can leapfrog start-ups - when they have the right strategy. https://www.youtube.com/watch?v=6RuFcmu2dyc Steven Ramirez, CEO at Beyond the Arc, discusses the new trends he's noticed emerging from the shadows. https://www.youtube.com/watch?v=_B03qLKn0ng& Jim Marous, Publisher / Fintech Strategist, The Financial Brand/The Digital Banking Report explores why…

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Finovate Alumni News

By David Penn Posted on
Categories: Betterment, Bpm'online, CREALOGIX, Dorsum, Endor, Golden, Gro Solutions, Onfido, Vaultz
On Finovate.com Gro Solutions Helps Vermont FCU Deliver Better Banking Experiences. Bringing Legacy Banks into the 21st Century. Around the web Forbes features SMRTSVR from Vaultz and Best of Show winner Golden in its look at PFM apps for people over 50. Blockchain technology pioneer, Dr. Stuart Haber, joins Endor's scientific advisory board. Bpm'online adds enhancements to accelerate sales, marketing, operations, service, and citizen development in its latest update. IDC Financial Insights includes CREALOGIX in its top 100 fintech ranking. Dorsum launches its MyWealth wealth management app at Dubai banking conference. Betterment introduces new Trust Account Opening feature for its Betterment for Advisors platform. Onfido announces partnership with international remittance platform, Remitly. 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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Avoka Enables 40+ App Digitization for First Tech FCU

By David Penn Posted on
Categories: Avoka
First Tech Federal Credit Union, a $12+ billion credit union based in San Jose, California, has leveraged technology from Avoka to deploy an omnichannel digital platform that digitizes account opening for more than 40 offerings. These include deposit accounts, home loans, credit cards, insurance and more. The result is an enhanced, more efficient experience for members and lower application abandon rates for the firm. Mike Upton, chief digital officer at First Tech FCU, called the launch "transformational," and the metrics readily support the claim. He noted that the new platform has enabled more than 2,300 applications from all channels to pass through the platform in the first week of operation. In the first few weeks after the launch, overall completion rates had rallied to 65%, well above industry averages which are closer to 20%. Additionally, using Avoka's Insights analytics capability enabled First Tech to determine that the time required by…

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Finovate Alumni News

By David Penn Posted on
Categories: Finicity, Outsystems, Temenos
Around the web OutSystems announces release of version 11 of its low-code development technology to help IT leaders solve legacy system gridlock. Fidelity and Finicity reach customer data sharing agreement. Cameroon's biggest bank, Afriland First Bank, to deploy Temenos' T24 core banking platform. 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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Welcome to the Post-FinovateFall Summit Day

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2018
FinovateFall may have ended yesterday, but we're not ready for the fun (or the fintech!) to stop. New this year, we've implemented an exclusive, post-event day of summit sessions focusing on the two hottest topics in fintech-- AI and the blockchain. If you're interested in attending, you can register online or stop by the front desk this morning to sign up. Registration (located on the 5th floor of the Marriott Marquis Times Square) opens at 8 am and the first session begins just before 9 am. For those who are already on the list, check out the agenda on our website or get a quick glance of what to expect below: 8:00 to 8:50 Registration, Breakfast, and Networking 9:00 to 10:30 Keynotes, Panels, Case Studies 10:30 to 11:10 Blockchain Morning Networking Break 10:30 to 11:00 AI Morning Networking Break 11:00 to 12:30 AI Case studies, Debates, and Panels 11:10 to 12:30…

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Braintri, Coinbase, Finovate Global, iGTB, Infosys, Prisma Campaigns, Tinkoff Bank
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 South Asia InstaREM reports facilitating no-fee money transfers of almost $2 million to the flood-stricken southern Indian state of Kerala. Infosys announces plans to open tech hub in Arizona and hire 1,000 Americans by 2023. Qbera of Bengaluru, India raises $3 million in funding from Essel Group. Latin America and the Caribbean Uruguay's Prisma Campaigns partners with Tyfone to bring new personalized, automated marketing solutions to banks and credit unions. Brazil's biggest independent brokerage, Grupo X, to offer a platform exchange for Bitcoin and Ethereum. Forbes profiles Brazilian online payments startup, EBANX. Asia-Pacific Taiwan to begin testing of its first regulatory sandbox in December. SBI Ripple…

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Finovate Alumni News

By David Penn Posted on
Categories: Bpm'online, CREALOGIX, Fiserv, iGTB, Prisma Campaigns, Tinkoff Bank, Tyfone
On Finovate.com FinovateFall 2018 Best of Show Winners Announced. Around the web Prisma Campaigns partners with Tyfone to bring new personalized, automated marketing solutions to banks and credit unions. CFCU Community Credit Union to deploy solutions from Fiserv to enhance its mobile, online, and in-branch customer experience. CREALOGIX reports record sales in 2017-2018 fiscal year. Bpm'online earns recognition from Gartner for its accomplishments in CRM Lead Management. Indonesia's Bank Central Asia goes live on iGTB's digital transaction banking platform. Tinkoff Bank offers access to more than 10,000 global securities via its Tinkoff Investments Premium solution. 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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