Payment Ninja Pledges Cutting-Edge Card Payment Services at Low Cost

Payment Ninja Pledges Cutting-Edge Card Payment Services at Low Cost

The recent launch of Payment Ninja is one small step toward 100% free payment acceptance for merchants, and one giant leap for the San Francisco-based payment company that demoed its technology at FinovateSpring 2016. Payment Ninja went live in the U.K. at the end of April and will be available in EU countries, the U.S., and Canada “one-by-one in the coming weeks,” according to company co-founder Andrey Morozov.

“We believe the change is imminent,” Morozov wrote in a blog post at the Payment Ninja website. “Our mission is to provide cutting-edge card payment services at a fraction of the cost and, eventually, for free. You can keep the extra cash for yourself or you can pass it on to your customers via lower prices, loyalty programs, and better quality.”

Calling payment fees “a hidden tax on the world economy, “Morozov credited his 15 years experience in the payment industry for encouraging him to co-found Payment Ninja. Integrating the solution only requires adding a few lines of code and enables merchants to accept credit and debit cards as well as other local payment methods, and accepts any currency. Payment Ninja routes the transaction to the best available international card processor, enabling “the highest approval rates … and no downtime ever,” according to CEO Daria Dubinina. The white-label solution is available both for online and mobile environments, and Payment Ninja plans on generating revenues by helping merchants sell value-added products on the platform as well as providing analytic data on transactions.

Founded in 2012, Payment Ninja demonstrated its payment technology at FinovateSpring 2016. We profiled the company as part of our Finovate Debut series last summer.

Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool

Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool

Community banking app company Malauzai has teamed up with payment processing giant Vantiv to launch a youth spending tool called Family Manager: SmartKid Control. Malauzai’s SmartApp users will have access to the new tool, which is offered by Vantiv and powered by OnDot.

The SmartKid Control feature offers parents oversight and control over their child’s spending via transaction monitoring and spending tools. The app generates purchase alerts and lets parents define and authorize specific merchant categories, such as grocery and gas (see image on right). While the card gives parents ultimate control by enabling them to remotely turn the card on and off, it also allows the child to begin forming their own spending habits by setting a budget and alerts.

Integrating the card control feature into a community bank or credit union’s existing app gives the financial institution a way to build loyalty among its existing users and build out its customer base of Generation Z-clients. According to Robb Gaynor, chief product officer for Malauzai, the new tool will offer “families the opportunity to include their children in the financial dialogue.”

Malauzai’s new tool leverages OnDot’s CardControl, a solution the company launched at FinovateSpring 2014 that allows consumers to control payment cards from a smartphone app. The solution, which the company later showcased at FinovateSpring 2015, won them Best of Show honors. Since then, the product was brought to market by Fiserv (under the brand name CardValet), COOP Financial Services (under the brand name CardNav), and Vantiv (under the brand name MobiMoney). OnDot most recently demoed Mobile Card Services at FinovateAsia 2016.

Founded in 2009, Malauzai last demoed at FinovateSpring 2016, where it debuted MOX Pay powered by Visual App Builder. In March of this year, the company launched Touch ID biometric authentication technology for Android users. In October 2016, Malauzai teamed up with Guardian Analytics to leverage its fraud detection solution.

Payment processing company Vantiv most recently presented at FinDEVr New York 2017 and last demoed at FinovateFall 2014, where it debuted its TriPOS solution. Earlier this week, Vantiv agreed to acquire B2B payments company Paymetric.

FinDEVr APIntelligence

FDLD17_EventLogoV1_wdate(large) (1)We saw some great stuff at FinDEVr New York earlier this year. If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

  • FinDEVr Veteran OutsideIQ Acquired by Exiger

Alumni updates

  • Plaid and Dwolla partner to provide fully-tokenized ACH payment integration.
  • Xero features its partnership with Equifax.
  • London Metal Exchange locates LMEselect Platform at Interxion’s Data Center
  • Envestnet unveils expanded data analytics portfolio for wealth management.
  • FinDEVr Alum Quovo Raises $10 Million
  • Prival Bank of Panama to deploy Temenos’ core banking solution, T24.
  • Trulioo adds new Canadian data sources to its GlobalGateway verification technology.
  • Jay Shah promoted to CEO of Personal Capital
  • Xero awarded the Best Overall Fintech Platform by the Fintech Breakthrough Awards.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool

On FinDEVr.com

  • Check out today’s FinDEVr APIntelligence.

Around the web

  • Plaid and Dwolla partner to provide fully-tokenized ACH payment integration.
  • Myanmar’s First Private Bank selects Misys FusionBanking to digitize its banking operations.
  • HSBC Group to deploy client lifecycle management technology from Fenergo.
  • Tungsten Network selects BlueVine to offer U.S. SMB clients access to lines of credit.
  • NAFCU Services announces 2017 Innovation Award Finalists: Q2, Insuritas, Geezeo, Mastercard.

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.

“I have lightbulb moments all the time – doesn’t everyone?” The rise of women in Fintech

“I have lightbulb moments all the time – doesn’t everyone?” The rise of women in Fintech

This article was first published on FinTech Futures on April 18th 2017.

Liz Maguire, Head of Digital & Transformation at ANZ reveals the secret to her success within fintech and #WomenInTech.

How did you start your career?

I started in a bank graduate programme straight out of university in a frontline role. I’ve since worked in lots of different departments and roles across several companies and time zones. I’ve held leadership roles in products, marketing, business support and channel management, and now lead a fantastic Digital and Transformation function at New Zealand’s largest (and best!) bank.  

What sparked your interest in fintech?

I’ve always worked in areas which are trying to do things differently and better – and this has really motivated me.

The Digital and Transformation area is a perfect fit for me – we’re part of an industry which is evolving around us and we’re using digital tools to drive the evolution.

I also love the people aspect of it. It all comes down to human behaviour – everything we do starts with people. We don’t just think up cool digital stuff and then try and get people to use it. We study the way people think, behave, work and live and design digital banking functions to make their lives easier – and that’s pretty satisfying.

What was your lightbulb moment?

I have lightbulb moments all the time – doesn’t everyone? For example, I had a real lightbulb moment about the so-called ‘disruptive FinTech companies’. The whole fintech industry is often positioned in quite a negative light for banks, but I think this ignores the fact that banks have a huge track record of digital transformation already.  There are fantastic examples of fintech enablers – those which help banks be better at a particular aspect of what they do. I see enormous opportunity in this.

What inspires you?

People with growth mind sets inspire me – those people who have the ability to take 1 plus 1 and create 3. I have tremendous respect for people who have overcome large obstacles to achieve their goals.

Also, on a daily basis I’m inspired by great customer experiences – whether that’s a story about how one of our bankers or digital tools have impressed a customer, or an experience I’ve had with a company that has blown me away.

Why is the #WomenInTech movement important?

It’s bringing together two important things. Women are half of the population and so we need to address the disparity in the industry. And it’s such an important industry – it’s a crucial part of society and the way we all progress. We need to get as many diverse brains as possible working on the opportunities that exist out there for technology.

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

As a whole, society has come a long way in the gender equality stakes. But we’re definitely not there yet, especially in this industry. I think it’s important to ensure young women are supported and can learn from the examples of others. This might be simple things like learning to speak up in meetings, how to ask for help and how to be more visible.

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 >>

OutsideIQ Acquired by Global Compliance Specialist, Exiger

OutsideIQ Acquired by Global Compliance Specialist, Exiger

The recent news that due diligence innovator OutsideIQ agreed to be acquired by compliance specialist, Exiger, is a sign that the RegTech revolution in fintech is real. OutsideIQ founder and CEO Dan Adamson said the acquisition was a “logical step in our shared view of the dominant role that cognitive computing solutions will play in compliance.” Business Insider reports that Exiger paid $22 million (C$30 million) for the Toronto, Ontario, Canada-based company.

OutsideIQ’s flagship technology DDIQ leverages automation and human analysis to detect potential regulatory risks that often go overlooked by currently-used methods. Geared toward financial institutions, investment firms, and large enterprises, the technology automatically scans publicly available information for any data on the subject and provides auditable reports on the findings. Exiger Analytics president Brandon Daniels noted that transaction alert monitoring, KYC/AML, onboarding, and counterparty/ third party risk at the enterprise level are among the challenges DDIQ will help Exiger address. “The acquisition … will augment our ability to deliver purpose-built, AI-based solutions that transform how global banks and multi-national corporations meet the evolving expectations of regulators looking for truly measurable and auditable solutions,” Daniels said.

Founded in 2010 and headquartered in Toronto, Ontario, Canada, OutsideIQ demonstrated its due diligence technology, DDIQ, at FinovateSpring 2016. In March, the company partnered with SAP Ariba, and teamed up with Genpact to provide better KYC and compliance solutions for FIs. We highlighted OutsideIQ last fall in our RegTech Reality Check. OutsideIQ is also a veteran of our developers conference, having presented at FinDEVr Silicon Valley 2016.

OutsideIQ is Exiger’s largest acquisition to date. Exiger was founded in 2013 to provide court-mandated oversight of HSBC, “the most comprehensive monitoring assignment ever awarded by the Department of Justice” according to the company. Additionally, Exiger serves clients worldwide through its offices in New York, Toronto, London, Hong Kong, Singapore, and Silver Spring, Maryland.

FinDEVr London @ London Tech Week

FinDEVr London @ London Tech Week

We’ve joined London Tech Week to kick off the first international FinDEVr event this June!

FinDEVr London combines finance + developers. It showcases the latest enabling technology – APIs, SDKs, cloud services and more – that developers will use to create their next innovation.

If you’re working on the tech side of financial services, you’ll find both friends and influential connections in the room on June 12 & 13. Buy your attendee ticket by this Friday save £200 with early-bird rates!

London Tech Week is a festival of events across the city, showcasing and celebrating the best of tech, making it a great partner for FinDEVr. Network, learn, and find new business opportunities! Check out the innovation, security, startup, etc. events and how to register for them here.

This Friday is the final early-bird ticket deadline before the event, so get your ticket here. And save an additional 10% with the promo code FinDEVrBlog.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

Photo by Erika Sanchez

Finovate Alumni News

On Finovate.com

  • OutsideIQ Acquired by Global Compliance Specialist, Exiger.

Around the web

  • Jack Henry & Associates named a Best Place to Work in Kentucky.
  • Xero features its partnership with Equifax.
  • London Metal Exchange locates LMEselect Platform at Interxion’s Data Center
  • Envestnet unveils expanded data analytics portfolio for wealth management.
  • Leondrino Exchange announces the first two branded currencies for startups.

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.

FinDEVr Alum Quovo Raises $10 Million

FinDEVr Alum Quovo Raises $10 Million

Financial data provider Quovo landed some serious cash last week in a Series B funding round. The New York-based company received $10 million from Napier Park Global Capital and F-Prime Capital Partners, who led the round. They were joined by existing investors, FinTech Collective and Long Light Capital. The company now boasts $15.2 million in total funding.

Lowell Putnam, CEO and co-founder of Quovo said that the capital will enable the company further its “mission to help firms build strong, data-driven client relationships, ” and that it will “enable [it] to build upon [its] success and help anyone trying to innovate or disrupt within financial services.”

Quovo will use the investment to “accelerate the growth of its suite of data analytics offerings,” which include Quovo Connect, a module that enables companies to pull transaction data from a user’s financial accounts. Quovo also offers a Bank Authentication API, which the company’s CTO & Co-Founder, Michael Del Monte, along with Stephen Sikes, Head of Strategy for SoFi Wealth, showcased at FinDEVr New York. SoFi, along with Finovate alums Wealthfront and Betterment leverage Quovo’s Authentication API to offer end users a smooth way to authenticate their financial accounts securely.

Stephen Sikes, Head of Strategy for SoFi Wealth (left) and Michael Del Monte, Quovo CTO & Co-Founder (right)

Founded in 2010, Quovo has presented at FinDEVr New York 2016 and FinDEVr New York 2017, where it was awarded Favorite FinDEVr Alum. Earlier this year, the company announced that its Bank Authentication API now covers 215 financial institutions, a growth of 10x since it was launched in November 2016.

Twitter Talk: The Top Tweets from FinovateSpring 2017

Twitter Talk: The Top Tweets from FinovateSpring 2017

The live Twitter feed for FinovateSpring continues to be a great way for some of fintech’s wisest and wittiest observers to share their hot takes on the technologies demonstrated live on stage. For those new to fintech and Finovate conferences, especially, the live Twitter feed #Finovate is a valuable source of insight and opinion on the best of what our industry has to offer.

Let’s take a look at the tale of FinovateSpring 2017 as told via Twitter. And to keep up with the latest in fintech news from our alums, follow us @Finovate.

Finovate Alumni News

On Finovate.com

  • Twitter Talk: The Top Tweets from FinovateSpring 2017
  • FinDEVr Alum Quovo Raises $10 Million

Around the web

  • TransferWise unveils new APAC hub in Singapore.
  • Temenos adds open banking, PSD2-based services to its MarketPlace initiative.
  • Ten FIs join Ripple’s cross-border, blockchain network.
  • Prival Bank of Panama to deploy Temenos’ core banking solution, T24.
  • Qumram wins “Best RegTech Company” in 2017 FinTech Breakthrough Awards.
  • Pendo Systems completes first full deployment of the Pendo Data Platform and receives certification as a Women’s Business Enterprise.
  • Trulioo adds new Canadian data sources to its GlobalGateway verification technology.
  • Jay Shah promoted to CEO of Personal Capital
  • Xero awarded the Best Overall Fintech Platform by the Fintech Breakthrough Awards.
  • Jumio wins Best Fraud Prevention Platform Category in FinTech Breakthrough Awards.

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.

FinovateSpring 2017 Best of Show Winners Announced!

FinovateSpring 2017 Best of Show Winners Announced!

Do the Best of Show winners of FinovateSpring 2017 represent our most diverse array of fintech innovations to date?

You be the judge. This year’s winners include four companies that made their Finovate debuts this year, as well as a pair of companies – Hedgeable and SaleMove – that are not only Finovate veterans, but also are previous Best of Show award winners. And when we focus on the technologies involved: artificial intelligence, automated financial advisory, OCR, machine learning, biometrics, and more, it is clear that the innovations we see on the Finovate stage are indicative of broader trends not just in fintech, but in the technology industry as a whole.

So here’s to the innovators of FinovateSpring: from those who leverage technology to solve fundamental problems in finance to others who take advantage of the “sharing economy” to introduce entirely new ways to do everything from buying a home to investing for retirement.

Alpharank for its APIs that enable FIs to turn their transaction data into predictive social graph data.

Capitali.se for its fully-automated portfolio management and trade execution technology that turns natural language into executable investment strategies.

 

Hedgeable AI Lab for its artificial intelligence platform, Katana, that leverages voice commands and chatbot technology to provide financial planning advice.

 

 

Microblink for its real-time, retail receipt scanner for mobile apps, turning the mobile camera into an accurate data catcher and replacing manual inputs.

 

 

Neener Analytics for its compliant social media analytics solutions that provide frictionless credit decisioning and individual risk outcome predictions.

 

SaleMove for its Engagement Platform and OmniBrowse solution that helps FIs meet or exceed the in-person customer experience online.

SpeechPro for its VoiceKey.FRAUD technology that uses voice biometrics to enable call centers to detect fraudsters.

Unison for its HomeBuyer and HomeOwner solutions that helps make homes more affordable and home equity easier and less expensive to access.

What a time we had this year in San Jose! Thanks to all our presenting companies, our sponsors and partners, our volunteers, temps, and presenter-acclaimed AV team, and of course, thanks to you, our attendees. We are already looking forward to our return to Silicon Valley next year for FinovateSpring 2018. So if we don’t see you this summer in London for FinDEVr or this fall in New York for our new, expanded FinovateFall conference, we hope we’ll see you again this time next year right here.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The six companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017