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Alpha Payments Cloud Teams Up with RS2 Software to Support FIs in Thailand

By David Penn Posted on October 10, 2016
Categories: Alpha Payments Cloud

Just a month ahead of our return to the Far East for FinovateAsia we learned today that Singapore-based Alpha Payments Cloud is partnering with RS2 Software to bring key financial and non-financial services to banks in Thailand via a single integration. Oliver Rajic, Alpha Payments CEO, said that his company’s AlphaHub technology was especially suited for FIs in Asia because of the region’s great variation when it comes to everything from government regulations to local customs and business preferences. “The combination of our agile and functionally rich propositions enables banks to offer highly bespoke solutions relevant to their domestic markets,” Rajic said.

The combination of AlphaHub from Alpha Payments Cloud and RS2’s BankWORKS processing software will give Thai FIs a “one-stop shop” for services ranging from AML/KYC and fraud prevention to global acquiring and transaction routing. Merchants will be able to use the technology to accept a wide range of payment types, including alternative payment types, in more than 100 currencies.

Alpha Payments Cloud CEO Oliver Rajic demonstrated AlphaHub at FinovateEurope 2016.

Founded in 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016, following up on its Best of Show winning demo at FinovateSpring 2015. The company’s AlphaHub technology is a payment-as-a-service platform that gives banks and merchants the ability to accept any payment, any solution provider, anywhere in the world. The platform has more than 250 third-party solutions—more than 60 in the area of fraud, risk, and commerce alone—and is readily integrated via the AlphaHub API. Rajic underscored that point in this week’s announcement, saying the company believes in “eliminating integration friction and standardizing data to simplify access via our enterprise app platform.”

This summer Alpha Payments Cloud reported that it will be one of two early-stage payments companies to participate in Wells Fargo’s accelerator program this year. And in the spring, the company partnered with Chinese payment-services provider, WeCollect, to launch the China Payments Cloud. Alpha Payments Cloud began the year winning the Next Generation Payments category at the KPMG Fintech Innovation Challenge, and partnering with Sentenial to power SEPA Direct Debit acceptance for European businesses. It has raised $12 million in total funding and is one of the presenters at our upcoming FinovateAsia 2016 event in Hong Kong, 8 Nov 2016. Visit our registration page for more information.

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Finovate Alumni News

By David Penn Posted on October 10, 2016
Categories: Alpha Payments Cloud, Backbase, Intuit, Mitek, Temenos, Thomson Reuters

On Finovate.com

Alpha Payments Cloud Teams Up with RS2 Software to Support FIs in Thailand. See Alpha Payments Cloud at FinovateAsia in Hong Kong on November 8.

Backbase and Mitek Partner to Remove Onboarding Friction

Around the web

Suez Canal Bank in Egypt upgrades its core banking technology from Temenos.

Intuit QuickBooks buys Bankstream.

Thomson Reuters partners with AIM Software to provide buy-side firms with better access to pricing and reference data.

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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Fintech Favorites

By Julie Muhn (@julieschicktanz) Posted on October 9, 2016
Categories: Aire, Akamai, IBM, Jack Henry, MasterCard, Misys, Sberbank, Thomson Reuters, Uncategorized, Venmo, VISA

Featured

U.K.-based challenger bank Atom opens to the public. The bank’s iPhone and iPad app is built on the Unity gaming platform and is the only way to access the mobile-only bank. Atom has a customer service team equipped with AI and machine learning, and has bolstered its security using voice and face biometric login. Atom Bank is the first of a handful of U.K. challenger banks set to launch this year, including Mondo, Starling Bank, and Tandem. Atom is headquartered in Durham and is already valued at almost $190 million. Check out Business Insider’s coverage.

Deals

Akamai (FEU 15) acquires Soha Systems, which offers secure access as a service for enterprises. This matches well with Akamai’s aim to offer cloud-based services to enterprises, and places it in a good position for a potential acquisition. See our coverage.

Jack Henry & Associates (FF 15) collaborates with Visa (FDSV 14) to accelerate P2P payments to debit cards. This may help banks compete with other services that have sped up settlement times, such as Zelle (formerly clearXchange) and Venmo (FS 13). See the press release.

Sberbank (FS 16) and MasterCard (FDSV 14) have partnered to launch Apple Pay on the Russian market. See the press release.

Milestones

IBM (FF 16) announced a $200 million investment for a new global headquarters for its Watson IoT business. The headquarters will be located in Munich and is one of IBM’s largest-ever investments in Europe. This move is part of a $3 billion initiative to bring Watson’s computing expertise into the world of IoT. See IBM at FinDEVr Silicon Valley, 18/19 Oct 2016. See VentureBeat’s coverage here.

Banking Technology reported that Misys (FEU 15) is preparing to issue an IPO in Nov 2016 with a $6.9 billion float. Advisory firm Moelis will be overseeing the move. Misys was delisted from the London Stock Exchange in 2012 when it merged with Turaz. Misys CEO Nadeem Sayed says going public is a “logical step in our evolution.” See Banking Technology’s coverage.

Aire (FEU 15) raised $2 million. Along with the funding announcement, the alternative credit-scoring platform announced it is now authorized and regulated by the Financial Conduct Authority (FCA), the U.K.’s financial regulator. This places it on a more level playing field to compete with the big three credit bureaus. See our coverage.

Tech

Thomson Reuters (FF 12) unveils blockchain-dev platform, BlockOne ID. Built for Ethereum, BlockOne ID is an experimental framework in which app owners can manage access to their blockchain contracts in a controlled environment. See Banking Tech’s coverage.

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Kreditech Taps mBank Veteran Michal Panowicz To Lead on Products, Technology

By David Penn Posted on October 7, 2016
Categories: Kreditech

Kreditech announced a major new hire this week. Former mBank executive Michal Panowicz will join the Munich-based company as its new CPIO (chief product and information officer). Panowicz will be responsible for Kreditech’s product and technology departments; he formerly worked for fellow Finovate alum mBank as senior director and managing director from the fall of 2011 to the spring of 2015.

Kreditech CEO and founder Alexander Graubner-Muller says he is “personally proud” to add Panowicz to the team. “Product and technology are the key value-drivers of our company and with Michal, we bring on board the experience and leadership required to realize our ambitious product vision.”

Panowicz has pledged to help Kreditech build “world-class engineering and cutting-edge digital finance products” especially for the underbanked. “In this untapped market, Kreditech has already built an impressive trajectory, with yet a huge potential to tap into,” he said.

Panowicz (pictured) is credited for helping lead the digital transformation of the third largest bank in Poland, mBank. A multiple Best of Show winner at Finovate conferences, partnering with companies like Accenture (FF13), Efigence (FE13), and i3D (FE15), mBank had earned wide acclaim for its financial innovation. Most recently, mBank earned three nominations to the EFMA Accenture Innovation Awards for its One-Click Payment Proposals, mAccountant (an automated accounting solution), and Click to Call solutions.

After leaving mBank, Panowicz joined Nordea, where he served as SVP and deputy head of digital banking. His long tenure in finance and technology includes stints at Alior Bank, Microsoft, eBay, and The Boston Consulting Group. Panowicz was educated at SGH Warsaw School of Economics where he earned an MA in Finance and Banking, and at Harvard Business School, where he received an MBA in 2006.

Founded in 2012 and headquartered in Hamburg, Germany, Kreditech demonstrated its technology at FinovateSpring 2014. The company this summer launched Monedo Now, an online POS financing solution designed to help empower the underbanked. This spring, Kreditech was recognized by the European Fintech Awards, taking top honors in the Financial Inclusion category. Also earning a spot in the 2016 Tech Tour Growth 50, Kreditech in March closed a $103 million Series C round, taking its total funding to $151 million.

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Finovate Alumni News

By David Penn Posted on October 7, 2016
Categories: AcceptEmail, Ethoca, Kreditech, MasterCard, Overbond, PaySimple, Realty Mogul, Sberbank, TransferTo, TransUnion

On Finovate.com

Kreditech Taps mBank Veteran Michal Panowicz to Lead on Products, Technology

Around the web

TransferTo partners with Eurogiro to enable mobile money transfers.

Sberbank and MasterCard launch Apple Pay in Russia.

AcceptEmail announces integration with Salesforce.

TransUnion unveils its Fraud Prevention Exchange.

PaySimple launches the first e-commerce platform for service providers.

Ethoca teams up with Lean Industries to improve dispute processing for card-issuing banks.

RealtyMogul.com announces 8% dividend payout for new REIT, MogulREIT I. Read more in our coverage about MogulREIT I.

Overbond wins spot in Canadian Innovation Exchange (CIX) 2016 Top 20.

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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A Deep Dive into the Upcoming FinDEVr Silicon Valley, 18/19 Oct 2016

By David Penn Posted on October 6, 2016
Categories: FinDEVr 2016 Silicon Valley

In this special feature on FinDEVr Silicon Valley 2016, we take a closer look at a few of the innovators who will demo onstage, 18/19 Oct 2016, as our developer’s conference returns to the West Coast.

By sharing more about the backgrounds and inspirations that help drive our FinDEVr presenters, we hope our slideshow below provides insights into what our industry’s brightest talents are working on now, as well as a preview of where financial technology may be headed in the years to come.

Click image to view slideshow

There’s still time to pick up your ticket to this year’s event. Stop by our registration page and save your spot today.

FinDEVr Silicon Valley 2016 is sponsored by The Bancorp.

FinDEVr Silicon Valley 2016 is partnered with Acuity Market Intelligence, BankersHub, BayPay Forum, BiometricUpdate.com, Bitcoin Magazine, Bitoinist.net, Breaking Banks, Byte Academy, California Bankers Association, Celent, The Cointelegraph, Colloquy, Emerging Payments Association, Empire Startups, FIDO Alliance, Fintech Finance, Global Platform, Hack Reactor, Harrington Starr, Juniper Research, Mercator Advisory Group, Next Money, Payment Week, Payments & Cards Network, SecuritySolutionsWatch.com, SIMAlliance, Swiss Finance + Technology Association, and Women Who Code.

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FinovateAsia Sneak Peek: NetGuardians

By David Penn Posted on October 6, 2016
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, NetGuardians

A look at the companies demoing live at FinovateAsia on 8 Nov 2016 in Hong Kong. Pick up your tickets today and save your spot.

NetGuardians enables banks to beat fraud and automate compliance. The company’s software leverages Big Data to correlate and analyze user behaviors across the entire bank system—not just at the transactional level.

Features:

Real-time auditing with dynamic profiling, pattern-based intelligence, and predictive analytics
Multichannel and multilayer: correlates user actions across the entire banking system
Reduces false positives

Why it’s great
Detect banking fraud before it happens and identify fraudsters with 100% reliability across the entire banking system.

Presenters
Raffael Maio, COO, Co-founder

Eric Margaryan, Asia Regional Director

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FinovateAsia Sneak Peek: Bambu

By David Penn Posted on October 6, 2016
Categories: Bambu, FinovateAsia 2016, FinovateAsia 2016 Sneak Peek

A look at the companies demoing live at FinovateAsia on 8 Nov 2016 in Hong Kong. Pick up your tickets today and save your spot.

Bambu is a B2B robo-adviser based in Singapore that offers digital wealth services to all companies, financial and consumer brands, looking to offer savings and investment to their customers.

Features:

Robo for all companies; financial and consumer brands
Unique ranking system for private banking product
Robo saver product which connects through to e-commerce

Why it’s great
Bambu is the only robo-adviser to have built a product for every segment of the market.

Presenters

Ned Phillips, Founder & CEO
Based in Asia for 25 years, Phillips has fintech expertise since 1999. He joined E*TRADE and became the MD for Asia up until 2007. He was also a consultant to 8 Securities as they launched their first robo-adviser.
LinkedIn

Pierre Valentin, Head of Product Creation
Valentin previously worked as an investment adviser in wealth management with ANZ and ABN AMRO Private Bank. In Europe, he was involved in the development of risk-management banking systems at Natixis.
LinkedIn

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Financeit’s Fresh $17 Million to Fund TD Financing Acquisition

By Julie Muhn (@julieschicktanz) Posted on October 6, 2016
Categories: FinanceIt, Funding

Today, Financeit pulled in a $17 million venture funding round that was led by new investors Pritzker family business interests advised by The Pritzker Organization and DNS Capital. Existing investors also contributed. The new installment boosts the Canada-based company’s total funding to more than $38 million since it was established in 2011.

This comes less than a month after Financeit announced the acquisition of TD Bank Group’s indirect home improvement financing assets. Today’s installment will be used to fund the $339 million transaction, which included the purchase of more than 800 merchant dealer agreements. Once things have settled from the deal, Financeit will be servicing 45,000 existing TD consumer loans.

The secondary purpose of today’s round will be to “support the ongoing needs of the company as it continues its rapid growth.” In a press release, Michael Garrity, founder and CEO of Financeit, said, “As more merchants embrace the benefits of offering cloud and mobile-based financing options to their customers, Financeit expects to increase its sizable signature in this market. We continue to focus on innovation for our merchant partners and market growth through both organic tactics and acquisition.” The company has already increased its lending activity in the home improvement industry by almost 2X since 2015.

Last month, Financeit made headlines when it recruited Ian Hanning, the CFO from Capital One Canada. Earlier this fall the company debuted its direct-to-consumer financing platform, Financeit Direct, which enables consumers to apply for funds via their mobile device. At FinovateFall 2014, Financeit made its U.S. debut in conjunction with FIS.

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FinovateAsia Sneak Peek: Nexmo

By David Penn Posted on October 6, 2016
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, Nexmo

A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Nexmo, a Vonage Company, is a leader in global cloud communications with a platform providing innovative communication APIs and SDKs for voice, text, messaging, and phone-verification services.

Features
Nexmo’s Verify SDK and API allow fintech companies to mitigate fraud, bypass common security challenges, and protect users by enabling phone verification for password replacement, 2FA, and more.

Why it’s great
Using Nexmo Verify allows you to improve the customer experience and protect your platform or application on a global scale.
Presenter: Sri Srinivasan, Product Leader
Srinivasan is currently a product leader for verify and number insight at Nexmo. Previously, he held product marketing positions at Druva, Motorola, RIM, and Qualcomm. He holds an MBA from Kellogg.
LinkedIn

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FinDEVr Preview: NuData Security

By Julie Muhn (@julieschicktanz) Posted on October 6, 2016
Categories: FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview, NuData Security

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. Visit our registration page and save your spot today.

NuData Security will be demonstrating its flagship product NuDetect, a behavioral biometrics platform that monitors behavioral interactions. The platform accurately verifies identity based on unconscious natural behaviors in real-time. It can detect most forms of account-based, automated, anomalous, and fraudulent online behavior even when valid credentials are presented.

Why it’s a must-see
See how to verify users in real-time before a transaction—even when the correct credentials are presented—identify higher risk activities, and leverage an extensive behavioral network. Behavioral biometrics offers financial institutions the balance between real security and a great customer experience. NuData supports new account creation, ATO, and automated use-cases.

Check out more of today’s FinDEVr Previews:

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FinDEVr Preview: Digital Business Art

By Julie Muhn (@julieschicktanz) Posted on October 6, 2016
Categories: Digital Business Art, FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. Visit our registration page and save your spot today.

Digital Business Art will present its Digital Banking Platform (DBP). The main virtue of the product is its ability to ensure 99.99% of a bank’s front-end-system availability, regardless of the state of the bank’s back-end system. This means that a bank’s client services will be permanently available and will not depend on its internal processes.

Why it’s a must-see
This innovative platform is built to ease the life of a bank’s IT department and its specialists, and to ensure seamless functioning of the business. DBP delivers an agile, flexible system-orchestration, impressive performance, and lower cost. This allows banks to focus on customers and products, rather than waste a huge budget on expensive infrastructure.

Check out more of today’s FinDEVr Previews:

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