Fiserv Wins Trio of New Credit Union Partners

Fiserv Wins Trio of New Credit Union Partners

Fiserv’s Portico core processing system has gained three new takers in the US: Montana Health Federal Credit Union, Port Conneaut Federal Credit Union and Southwest Oklahoma Federal Credit Union, reports Tanya Andreasyan of Banking Technology (Finovate’s sister publication).

One of these “is returning [to Fiserv] after a decade away”, the vendor says.

In addition to core processing, the credit unions will also implement a range of auxiliary solutions from Fiserv, including mobile and online banking, loan processing and management, and card management.

“We take a thoughtful approach to our technology needs,” says Dennis Wizeman, president and CEO of Montana Health FCU. The credit union has $25.5 million in assets and 3,000 members.

“We have a unique charter of healthcare professionals. They’re working 24/7, and they need all the efficiency and access a modern credit union can provide,” Wizeman adds.

Port Conneaut FCU, a 4,000 member credit union in Ohio ($26.4 million in assets), “needed to hit above our weight class”, says Todd Wilson, its president and CEO. “Upgrading and unifying our digital services is the first step in a long-term plan” of Port Conneaut FCU, he adds.

The returning customer is Southwest Oklahoma FCU ($93 million in assets and 6,400 members).

“We serve a relatively large geographic area, and a branch isn’t always the best option for our members or prospective members,” explains Emmett Meraz, president and CEO of Southwest Oklahoma FCU.

“Virtual banking, mobile banking and other at-home services are a strategic imperative for us moving forward.”

Headquartered in Brookfield, Wisconsin and founded in 1984, Fiserv demonstrated its Mobiliti Enterprise platform at FinovateFall 2016.

OnDeck Celebrates 10th Anniversary

OnDeck Celebrates 10th Anniversary

This month marks OnDeck’s 10th anniversary. But when it comes to milestones and metrics, the New York-based small business lender is all about the sevens. As in: $7 billion in capital provided to more than 70,000 customers in 700 different industries in the U.S., Canada, and Australia.

“OnDeck started lending online to small businesses ten years ago with a customer-first philosophy and a relentless commitment to providing capital online with speed, efficiency, and top-quality service to America’s small business owners,” OnDeck CEO Noah Breslow said in a statement. Breslow, who was also OnDeck’s first employee, called small business lending “the hallmark of our business.”

In the company’s statement, OnDeck cited a New York City-area retailer who had benefitted from OnDeck’s services after being turned down for financing by a local bank because their business was “too young.” The retailer turned to OnDeck and was able to secure funding to expand its product line of speciality small batch wines and spirits. He praised the company’s “customer service, speed of capital and personal focus” adding ” that is one of the things that keeps me coming back.”

OnDeck provides small businesses with the financing they need to help grow their enterprises. The company offers term loans of up to $500,000 with rates as low as 9.99% and lines of credit of up to $100,000 with rates as low as 13.99%. The company leverages data aggregation and its proprietary credit scoring methodology – OnDeck Score – to provide credit decisions within minutes and, once approved, borrowers can sign their contracts and receive their money as fast as 24 hours.

Founded in 2007 and headquartered in New York City, OnDeck demonstrated its technology  at FinovateSpring 2012. Traded on the NASDAQ under the ticker “ONDK” since going public in 2014 and with a market capitalization of $342 million, OnDeck is also an alum of our developer’s conference, FinDEVr New York 2016.

Finovate Alumni News

On Finovate.com

  • Unison Leverages Institutional Investors to Help Home Buyers Bridge Affordability Gap.
  • Fiserv Wins Trio of New Credit Union Partners.

Around the web

  • Temenos unveils new online learning platform, Temenos Learning Community.
  • Service Credit Union (SCU) with $3 billion in assets to deploy nCino’s Bank Operating System.
  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).

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.

BizEquity Brings Business Valuation Data to Wall Street Journal Pro

BizEquity Brings Business Valuation Data to Wall Street Journal Pro

Cloud-based, “valuation-as-a-service” specialist BizEquity is teaming up with Wall Street Journal Pro (WSJ Pro) to provide private equity investors, M&A advisors, and entrepreneurs with a new tool, the WSJ Pro Business Valuator. The solution will be available to WSJ Pro and Wall Street Journal members as an additional offering, and combines WSJ Pro’s curated news and analysis with BizEquity’s vast trove valuation data.

“There is no better source of financial news and information than The Wall Street Journal and Dow Jones,” BizEquity founder and CEO Michael M. Carter said. He noted that data on business valuation is “one of the last bastions of data yet to be democratized through the Internet,” and referred to BizEquity as a “leader in this new market.” WSJ Pro General Manager Will Wilkinson added that the combined solution would be a significant value-add for subscribers to the premium membership service. The WSJ Pro Business Valuator helps both advisors and investors by providing valuation reports that can be used to help attract and acquire new clients, discover and convert leads, and track and analyze business value.

Founded in 2010 and headquartered in Philadelphia, Pennsylvania, BizEquity demonstrated its BizEquity One UK dynamic valuation solution at FinovateEurope 2015. Last month, the company teamed up with the Business Enterprise Institute to launch the Business Valuation Institute, an online certification course that gives financial advisors the opportunity to learn about the methods and tools used associated with business valuations. Also in August, BizEquity and Discovery Data partnered to build an online service for financial advisors that would provide valuation data for more than 40,000 registered firms and more than 700,000 registered reps. BizEquity has raised more than $5 million in funding. The company’s biggest investor is Frost Brooks.

Fern Software Opens Cloud Platform to Third Parties in the U.K. and Ireland

Fern Software Opens Cloud Platform to Third Parties in the U.K. and Ireland

Core banking software provider Fern Software has opened its Abacus HUB Cloud platform to third parties in the U.K. and Ireland, reports Tanya Andreasyan at Banking Technology (Finovate’s sister company).

“End users can now build a customized core banking system from the library of apps available,” the vendor said.

According to Fern, “this is the first time APIs have been made available in this way to third parties to offer new and disruptive apps to credit unions and other financial services providers in the U.K. and Ireland.

“This open approach to collaboration is unique to this market.”

Pictured (left to right): Fern Software CEO Eamon Scullin and Software Architect Adam Stirtan demonstrating BayTree, a scalable, “Pay as you Grow” API Banking CRM software service at FinovateFall 2015.

Eamon Scullin, CEO and founder of Fern, observed that the changing technology and business needs of credit unions require “all key players to collaborate across payments, mobile and online services”.

The vendor is “working with selected fintech partners to deliver a complete integrated solution”. Third party apps will be available via the AbacusStore portal.

John McGucken, GM at Fern, described Abacus HUB as “the future of credit union financial services software”. It will reduce the credit unions’ costs, increase flexibility and facilitate innovation and open collaboration, he explained.

Among Abacus users in the UK is Liverpool-based Enterprise Credit Union (ECU). Its manager, Karen Bennett, supported Fern’s latest venture, saying “we are confident we can offer more services, maintain growth and streamline current processes for all involved”.

According to Scullin, Abacus HUB has already been deployed in three sites.

Fern Software was set up in 1979. Its flagship core processing system, Abacus, is aimed at “inclusive financial institutions”, such as MFIs, credit unions, SME lenders and development banks.

The solution has 300 installations in 35 countries, predominantly across Africa, Latin America, Asia and Eastern/Central Europe. It is available in English, Arabic, French, Russian and Khmer.

Fern Software demonstrated its “Pay as you Grow” API banking CRM software service, Baytree, at FinovateFall 2015.

FinovateFall Sneak Peek: ID Analytics

FinovateFall Sneak Peek: ID Analytics

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

ID Analytics, the leader in credit and fraud risk solutions, introduces ID Connect 2.0 to improve the account opening experience while managing risk.

Features

  • Improves the account opening experience
  • Reduces application abandonment
  • Verifies the ID and the identity

Why it’s great
ID Connect 2.0 provides an awesome, fast, and safe application process by reducing data entry while verifying the ID and the identity.

Presenters

Aaron Kline, Vice President, Innovation and New Ventures
Kline leads the company’s efforts to innovate and build new solutions to support clients’ growth while minimizing risk.
LinkedIn

Tim Manglona, Senior Product Manager, Innovation and New Ventures
Manglona leads initiatives focused on a new product development to expand ID Analytics’ portfolio of solutions and oversees the ID Connect product suite.
LinkedIn

FinovateFall Sneak Peek: Omega Point

FinovateFall Sneak Peek: Omega Point

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Omega Point empowers investment professionals to adapt to changing markets with an easy-to-use portfolio management platform that discovers risks and suggests optimizations.

Features

  •  Evaluate performance and risk of any investment product
  • Isolate positive drivers of your strategy and hedge against unintended bets
  • Identify rebalancing opportunities in changing markets

Why it’s great
Investing using Omega Point helps managers identify trends and adapt their portfolios to rapidly changing market conditions.

Presenters

Omer Cedar, Co-founder and CEO
Cedar was previously SVP, Research at Two Sigma Investments, a leading quantitative fund. His expertise includes behavioral equity strategies, quantitative and fundamental risk arbitrage strategies, and alpha capture.
LinkedIn

FinovateFall Sneak Peek: Digital Onboarding

FinovateFall Sneak Peek: Digital Onboarding

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Digital Onboarding is a SaaS technology company focused on helping banking customers activate their financial services products.

Features

  • Fully automated and 100% digital customer onboarding experience.
  • Increased bank profit from higher customer activation rates.
  • Cost savings from elimination of direct mail and phone calls.

Why it’s great
Digital Onboarding is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving bank profit by increasing new customer activation rates.

Presenters

Ted Brown, Co-Founder, CEO
Brown has a background in sales and an exit with a VC funded company, Andera Inc. He is a loving husband, and a father to a black Lab.
LinkedIn

 

 

Jonathan Crossman, Co-Founder, CTO
Crossman is a 15-year seasoned full-stack developer . He is a loving husband, and a father to two boys.
LinkedIn

FinovateFall Sneak Peek: Braintri

FinovateFall Sneak Peek: Braintri

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

With Braintri, cards are dead. Everyone is looking for a new technology that allows you to pay anywhere and everywhere. They have the solution. They called it Jiffee – a new tap and pay mobile technology.

Features

  • Jiffee is a new technology that allows you to pay anywhere and everywhere
  • All your cards and accounts in one place
  • They turn any device into payment terminal

Why it’s great
Jiffee is a new technology that allows you to pay anywhere and everywhere.

Presenters

Maciej Stępień, CEO & Co-Founder
Stępień has nearly 20 years of experience in innovative payments technology and consulting services with focus on enterprise-grade software development and system implementation.
LinkedIn

Wojciech Zatorski, CEO & Co-Founder
Zatorski has over 20 years of extensive experience in the financial sector with a strong focus on transaction processing, and experience in managing large-scale projects and innovative payments technology.
LinkedIn

D3 Banking’s Christina McGeorge Talks About Finding Her Niche as a Fintech Professional

D3 Banking’s Christina McGeorge Talks About Finding Her Niche as a Fintech Professional

This article was first published on FinTech Futures on June 27th 2017.

Part of our #WomenInFinTech series, we chat to Christina McGeorge – chief product officer and VP of product ownership for D3 Banking – about how she only became aware of her success within fintech a few years ago. She shares some words of inspiration and motivation to the next round of successful women in tech.

How did you start your career?

I began my career nearly thirty years ago as a software engineer at ACI Worldwide. I was still in college, working on my degree in management information systems at the University of Nebraska at Omaha. After two years, I switched my focus to solutions architecture because I wanted to broaden my skillset. I went on to work for ACI for 20 years, eventually becoming the lead design engineer for ACI’s point of sale product.

What sparked your interest in fintech?

Computer sciences had always been an interest of mine, so it was a natural fit to study in college. However, my curiosity and passion quickly grew beyond just computer sciences, and I found myself pursuing some exciting opportunities in the fintech space. I’ve been hooked ever since.

What was your lightbulb moment?

I’ve always enjoyed my work, but my lightbulb moment didn’t come along until a few years ago. While I was designing front-end authorization systems at ACI and back-office solutions for BHMI, I was assembling pieces of a puzzle, gaining more knowledge of particular niches within the fintech space. It wasn’t until I joined D3 Banking and gained a new perspective that the broader picture came into focus. Suddenly, the trajectory of my career made sense. Without my previous experiences and the perspectives gained from them, I would not have been positioned to contribute to D3 Banking as I have, helping to design our platform. The pieces of the puzzle just fell into place; I had been on this path all along.

What inspires you?

I’ve always been inspired by the notion of providing people with the opportunity to better themselves financially. This is why when I had the chance to join a start-up digital banking company more than five years ago, there was no hesitation. I was employee number 15 at D3 Banking, which allowed me to help build our platform from the ground up in a way that helps both banks to reduce complexities in their systems, and end users to better understand their financial situations and enhance communication with their banks.

Why is the #WomenInTech movement important?

Culturally, we struggle with the idea that it’s normal or even acceptable for girls to be good at math or sciences. In fact, I remember being one of few girls in my computer science classes. The #WomenInTech movement spreads the message that anyone in the world, even a young girl in grade school, can be good at science at math, and that the world is open to you. This is so important for future growth and progress.

What piece of advice would you give women starting their careers in fintech?

When I was younger, my grandfather used to quiz me on my math. I remember one day he told me, “it’s not whether you can; it’s whether you want to.” That’s something that really resonated with me, and is something I think is important for not only women, but all people to know. You are capable, if you’re willing to put in the effort necessary to achieve your goals.

Throughout the year we will be profiling women in fintech, not simply to celebrate their success but also to hear what has worked for them during the course of their careers. Click here to read more inspirational stories from fintech’s leading women >>

FinovateFall Sneak Peek: Bpm’online

FinovateFall Sneak Peek: Bpm’online

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Bpm’online financial services is a process-driven CRM designed for corporate and retail banks and financial institutions to streamline customer-facing processes and enhance customer experiences.

Features

  • Upgraded product catalogue
  • Enhanced omnichannel communications
  • Optimized business process management

Why it’s great
Bpm’online provides banks and financial institutions with intelligent business process management capabilities and a single platform for all customer-facing operations.

Presenters

Matthew Tharp, Chief Evangelist
With more than 10 years of experience in the CRM space, Tharp is responsible for evangelizing bpm’online technologies and promoting CRM products.
LinkedIn

John Binda, Enterprise Account Executive
Binda is responsible for managing and developing business relationships with enterprise-level customers and key accounts.
LinkedIn

FinovateFall Sneak Peek: Finicity

FinovateFall Sneak Peek: Finicity

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Finicity is a data aggregation and insights provider transforming markets through the use of consumer-permissioned data.

Features

  • Intuitive customer on-boarding
  • Improved data access and data quality
  • Simplified access to data and reports

Why it’s great
Finicity is driving the consumer data-sharing market to radically improve financial management, payment initiation, and lending experiences.

Presenters

Nick Thomas, President of Data Services
Thomas is a technologist and business builder. As co-founder of Finicity, Thomas is passionate in helping individuals and organizations gain deeper insights thru data to make smarter financial decisions.
LinkedIn

Jessie Morris, Director of Engineering
Morris is a problem solver by nature and a master software engineer and developer by trade. He plays a major role in designing and reimagining the Finicity data aggregation platform.
LinkedIn