FinovateFall Sneak Peek: Aleo

FinovateFall Sneak Peek: Aleo

Aleo_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Aleo.com is a B2B marketplace open to companies of all sizes and integrates online procurement services with easy supplier financing powered by ING Bank.

Features:

  • eRFPs and purchase auction integrated with easy-invoice financing-solution
  • Suppliers receive cash as soon as they like
  • Buyers pay as late as they need

Why it’s great
Aleo.com enables ING Bank to meet client financing needs exactly at the moment they do real business, empowering them to make better procurement, sales and financing decisions.

Presenters

Bartosz Traczyk, CEO, ING Services for Business (Aleo)
Traczyk has 10+ years of experience in banking, process, product, and project management. He is currently responsible for the Beyond Banking offer for corporate and SME clients at ING Poland.
LinkedIn

 

Aleo_OscarSwanOscar Swan, Chief Risk Officer and VP at ING Lease Poland, Board Advisor at ING Services for Business (Aleo)
Swan has 20+ years of experience in banking, market risk and credit risk management, covering various leadership positions at ING.

FinovateFall Sneak Peek: Moven

FinovateFall Sneak Peek: Moven

Moven_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Moven offers a software platform designed for mobile customer-centric banking, connecting the customer’s lifestyle to the revenue moments of a bank.

Why it’s great
Moven partners with global financial institutions to transform banking from products and balance sheets to insights and advice.

Moven_GregMidtboPresenters

Greg Midtbo, Chief Revenue Officer

 

 

 

Moven_BobSavinoBob Savino, Chief Technical Officer

Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List

Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List

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With a three-year growth rate of nearly 94x and revenues of more than $17 million in 2015, Persado came in at #16 on Inc.com’s roster of the fastest growing private companies in America. “The Inc. 500 list stands out where it really counts,” said Eric Schurenberg, Inc. president and editor-in-chief. “No one makes the Inc. 500 without building something great, usually from scratch.”

Alex Vratskides, Persado CEO and cofounder, called the recognition a “tremendous achievement” for his company. “It validates not only our dramatic growth, but also honors the transformative power of cognitive content technology, our pioneering customers, and our brilliant global team,” he said.

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Persado Chief Revenue Officer Lawrence Whittle demonstrated Persado Go at FinovateEurope 2016 in London.

Persado demonstrated its messaging solution, Persado Go, at FinovateEurope 2016 in London this February. The company’s technology “replaces the guesswork of copywriting” by using algorithms to generate language for marketing emails, landing pages, push notifications, social media and other communications. Discussing the technology at FinovateEurope 2016 earlier this year, company CRO Lawrence Whittle said, “In simple terms, we generate the most persuasive message every time with every digital touchpoint with your customers.” And using the example of trying to drive up business among dormant credit-card customers, Whittle showed how Persado was able to quickly build multiple variations of an email message as part of a marketing campaign far faster than a team of copywriters. Whittle pointed out the advantages of machine learning in this context, saying that “these messages are not in any way a judgment around creativity, [but] about what might work in terms of motivating someone to take an action. We are literally analyzing billions of transactions to generate these sixteen messages.”

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Persado has raised $66 million in total funding, including a $30 million Series C in April. The company includes Goldman Sachs, StarVest Partners, Bain Capital Ventures, Citi Ventures, and American Express Ventures among its investors. More than 80 global brands use Persado’s technology to enhance their marketing initiatives, earning an average conversion lift of more than 49% and an improvement of more than 68% in click-through rates. Founded in 2012 and originally from the U.K., Persado is headquartered in New York City.

Other Finovate and FinDEVr alums appearing on Inc.’s list include Kabbage (#183; 3-year growth of more than 20x; 2015 revenues of $97.4 million); Lighter Capital (#335; 3 -year growth of more than 11x; 2015 revenues of $4.3 million); and Tango Card (#402; 3-year growth of more than 9x; 2015 revenues of $6.2 million). Finishing just beyond the 500 mark was edo Interactive (#569; 3-year growth of more than 6x; 2015 revenues of $18.1 million).

Finovate Alumni News

On Finovate.com

  • Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List
  • Qumram Wins Swisscom Startup Challenge (Note: See Qumram demonstrate its technology in New York at FinovateFall 2016 on 8/9 September.)
  • HelloWallet’s New Feature is a Budget Within a Budget
  • Upserve’s New Square Partnership Offers Clients Access to Funding via Square Capital

Around the web

  • New partnership lets small businesses using Xero pay invoices using PayPal.
  • TSYS extends payments agreement with Swisscard.
  • The Muse features Persado on its list of “20 companies that want you to be happy.”
  • CRN lists MapD Technologies as one of 10 of the coolest big-data startups of 2016.

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.

Bizfi Reaches $1.8 Billion Small Business Lending Milestone

Bizfi Reaches $1.8 Billion Small Business Lending Milestone

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Courtesy of more than $144 million in originations in the second quarter, small business lending platform Bizfi has just surpassed $1.8 billion in financing to more than 31,000 small businesses since inception 12 years ago. The gains represent a 25% year-over-year increase.

Bizfi founder Stephen Sheinbaum credited partnerships—with Western Independent Bankers (WIB) announced in March, and the National Directory of Registered Tax Return Preparers & Professionals (PTIN) announced a few weeks ago—for his company’s ability to provide financing to an expanding universe of small businesses. And this is especially true in the case of small businesses that have had a difficult time raising funds. “We will continue to forge these white-label partnerships with companies that have existing small business relationships,” Sheinbaum said, “with the goal of solidifying the Bizfi brand and expanding our reach.”

Bizfi_stage_FinovateFall2015

Bizfi founder Stephen Sheinbaum demonstrated the Bizfi platform at FinovateFall 2015 in New York.

Bizfi specializes in combining aggregation, funding, and a marketplace on a single platform for small businesses. This enables Bizfi to provide access to third-party brokers and a direct sales force, cash advances and small business loans, as well as a market that enables institutional investors to participate. The combination of features makes Bizfi unique among alternative finance companies, providing its solutions to its strategic partners via API as both white-label and co-branded options. The company has more than 45 funding partners, including fellow Finovate alums OnDeck, Dealstruck, and Kabbage.

Founded in 2005 and headquartered in New York City, Bizfi demonstrated its technology at FinovateFall 2015. In June, the company picked up a $20 million investment from Metropolitan Equity Partners, bringing Bizfi’s total capital to $85 million.

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

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Ethoca, a collaboration network for card issuers and merchants, landed a new client this week. The company has partnered with ACI Worldwide to integrate its flagship service, Ethoca Alerts, into ACI’s UP eCommerce Payments solution, making it globally available to payment service providers (PSPs).

Ethoca Alerts notifies PSPs, processors, acquirers and their merchant clients of issuer-confirmed fraud and customer-dispute data to help them bolster their existing fraud defenses. The protection against chargebacks passively takes place in the background. When a dispute occurs, Ethoca Alerts helps merchants resolve cardholder complaints before they go into the chargeback process and notifies them to stop the shipment of goods to fraudsters.

“Our integration with the ACI UP eCommerce Payments solution makes Ethoca Alerts easily available to more than 130 payment-service providers and thousands of their merchants,” says Ethoca CMO Keith Briscoe. “As we bring onboard more payment providers and top-tier merchants, the overall network effect increases. All participants, including Ethoca’s network of more than 545 card issuers, get more value by reducing fraud losses and eliminating more chargebacks.”

Toronto-based Ethoca was founded in 2005 and last presented at FinovateEurope 2016 in London. Earlier this year the company integrated Ethoca Alerts into the fraud-detection platform, Kount’s Kount Complete.

ACI Worldwide, which took the stage with MShift at FinovateFall 2011, powers electronic payments for more than 5,100 organizations, including 1,000+ financial institutions and intermediaries.

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

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Business-to-business analytics provider Cortera reached a milestone this summer. The Florida-based company yesterday announced it has expanded the Cortera Credit Exchange database.

The Cortera Credit Exchange gathers information on the purchase and payment behavior on more than 10 million U.S. businesses. Between January and July 2016, this database increased by more than $170 billion in B2B purchases. This brings the database’s total annual purchase insights to $1.2 trillion.

Cortera leverages the purchase data to create analytics such as new customer risk-assessments, customer portfolio risk-monitoring, supplier risk management, customer segmentation, insurance underwriting, customer profitability modeling, and loan-default prediction.

Regarding the company’s future plans, Cortera CEO Jim Swift said, “we will continue to expand our data network aggressively and leverage our innovative platform to help customers solve business problems in new ways. We’re excited about the path we’re on.”

Since it was founded in 1993, Cortera has expanded its database to include hundreds of attributes to help businesses create statistical modeling and other analytics. The company demoed at FinovateSpring 2010 and recently appointed Bob Maguire as chief revenue officer.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held 18/19 October in Santa Clara. Early bird tickets expire soon so register today to save your spot!

On FinDEVr.com

  • First Wave of FinDEVr Silicon Valley Presenters Revealed

The latest from FinDEVr New York 2016 presenters

  • NYMBUS Raises $12 Million in Round Led by Vensure  Enterprises
  • Braintree, Finicity, and Twilio Take Top Honors at API World Awards
  • Markit enhances WSO software suite to offer new levels of automation for syndicated loan market.

Alumni updates

  • National Bank of Kuwait goes live with Temenos Treasury Trader.
  • CardFlight to Power EMV Mobile Processing for BluePay
  • Trulioo announces enhancements to the global AML watchlist capabilities of its GlobalGateway platform.
  • Chain announces new partnership with Initiative for Cryptocurrency and Contracts (IC3).
  • Fintech News Switzerland highlights Currency Cloud in a look at London’s top rising fintech stars.

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

Actiance Hires Former Credit Suisse Exec as CTO

Actiance Hires Former Credit Suisse Exec as CTO

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Screen Shot 2016-08-15 at 5.03.07 PMSocial media compliance company Actiance today announced it has appointed Anthony West (pictured) as CTO.

Prior to accepting the new position, West worked at Credit Suisse for more than 20 years where he oversaw all communications, collaboration, and electronic communications-compliance infrastructure services. He is now regarded as an “enterprise collaboration technology strategist,” and specializes in real-time communications platforms.

Actiance also brought on Neil Senior as VP of customer success. Prior to joining Actiance, Senior held roles at AVID Technology, EMC Corporation, and RSA. In his new role, Senior is responsible for “overseeing all professional services and customer-support teams as well as expanding service offerings to meet customer needs.”

The new appointments come two months after the company brought on Naresh Bansal as CFO.

Last month Actiance launched support to help bank clients compliantly engage customers and employees on Instagram. Founded in 1998, the company last presented at FinovateFall 2012 where it debuted Socialite. Actiance has raised almost $44 million from 7 investors since launching in 1998.

Finovate Alumni News

On Finovate.com

  • Actiance Hires Former Credit Suisse Exec as CTO
  • Check out this week’s FinDEVr APIntelligence.
  • Ethoca to Power Merchant Fraud Alerts for ACI Worldwide
  • Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases
  • BizFi Reaches $1.8 Billion Small Business Lending Milestone

Around the web

  • New partnership between Interactions and Genesys brings automatic speech recognition and text-to-speech to self-service customer care.
  • Karen Webster interviews Socure CEO Sunil Madhu on using social data for authentication.
  • Darwinex announces enhancements to its algorithms.
  • CREALOGIX Digital Banking Hub to power finance portal for VZ Depotbank.
  • Backbase to power customer experience and digital banking platforms for IDFC Bank.

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.

First Wave of FinDEVr Silicon Valley Presenters Revealed

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Early this summer, we started reviewing applications from companies excited to present their latest fintech tools, technologies, APIs, platforms, case studies, and tutorials at FinDEVr Silicon Valley 2016. Today, we’re excited to announce the first wave of presenters that will take the stage at the Santa Clara Convention Center this October.

To watch all 50+ companies present live, make sure to buy your ticket. Early-bird tickets expire soon, so these are your final days to save.

We’ll announce the remaining stealth companies over the next two months. In the meantime, get to know the innovative and established and startup organizations below:

1787fp’s mobile financial app helps millennials and young professionals track their finances and manage investments through one unified financial planning tool.

Aerospike uses a distributed, key-value database designed for Flash to help organizations make decisions in real-time.

Apex Clearing’s suite of APIs facilitates real-time onboarding, account management, and cash management for broker dealers and registered investment advisors.

AutoGravity helps digitally minded customers looking to finance a car embrace the full potential of the smartphone through its mobile-first digital marketplace for auto financing.

BankGuard’s SuperMatrix SDK and SuperMoney system offer a low-cost, biometric identification solution.

BBVA’s API Market helps developers access and build on core banking services for the digital ecosystem.

Blend’s digital mortgage-lending platform uses a human-centric design coupled with data science to make the mortgage application process less opaque and time-consuming for both homebuyers and lenders.

Castle uses behavioral analysis in its security API to help online businesses avoid account takeover.

Cognitect’s Datomic distributed database unlocks disparate data for financial services organizations, top 10 banks, and startups using a built-in audit trail and real-time analytics.

DefenseStorm seeks to alert companies storing data in the cloud of potential cyber threats through its lighting fast, easy-to-set-up, unified security platform.

Devexperts helps brokerages, traders, banks, and market makers analyze and play back historical market data using domain-specific compression for high performance.

Digital Business Art’s Digital Banking Platform leverages its own research and cutting-edge Oracle technologies to help retail banks make a permanent service more available.

Entrust Datacard’s IdentityGuard Mobile Soft Token saves users from having to manually enter a one-time password for online banking and ecommerce transactions.

Envestnet Yodlee offers a new, quick-start registration and API solution to make the registration and development process easy for engineers, developers and business entrepreneurs.

Exeria’s Algorithmic Robot Platform uses drag-and-drop bot building and automatic visualization to simplify investing for both B2C and B2B applications.

Expensify’s distributed database technology solves WAN-based geo-redundancy problems for secure, cloud-services businesses using a novel, high-performance replication protocol.

Finaeos helps enterprises and emerging single solution companies find better solutions for legacy providers using its Programmable.Cloud deep rapid application development that leverages CORE.Cloud Connection R.A.D. Gadget and process stack.

Financial Apps uses an API-led development platform that helps fintech companies achieve rapid scale.

Hyperwallet offers a toolkit of REST APIs, SDKs, JavaScript Widgets, and Webhooks to serve payout needs for high-growth, two-sided marketplace companies by using a global financial network and integrated payments platform.

IdentityMind Global solves fraud and regulator compliance issues for fintech companies, traditional banks, and online merchants by leveraging eDNA – Trusted Digital Identities within its on-demand identity-management platform.

Kyckr’s suite of API’s uses automated, real-time, primary source data to manage onboarding and resolve KYC bad data problems for banks and corporate customers globally.

Lleida.net acts as a trusted third party by generating evidence for companies that need to proof the acceptance.

Marqeta’s open API issuer processor platform creates payment infrastructure for commerce innovators.

ModoPayments’ Digital Payments Hub uses its COIN technology to connect sources of value to diverse destinations for financial companies.

MX’s easy-to-use, fast-to-implement financial data API provides fintech developers with clean and usable transaction data.

NuData Security uses passive biometrics and analytics as a multi-layered solution to identify good users for top 100 e-commerce and financial institutions.

OCR Labs combats risk and fraud for banking, financial, insurance, telco and government through its OCR, FR and verification technology.

Personal Capital uses customers’ financial data to overcome the cumbersome process of opening investment accounts.

PricewaterhouseCoopers (PwC) seeks to resolve inefficiencies for trade finance (Standby Letters of Credit) using “blockchain-as-a-service.”

Smartwave’s platform-as-a-service helps financial, telco, transportation, consulting, and retail businesses digitally transform their businesses.

SpeechPRO has developed a new customer onboarding solution to solve KYC identity and verification with multichannel access for CTO’s, developers and other technologists.

Tango Card’s simple technology and expert support in its RaaS API helps anyone looking to engage employees or consumers through a large-scale reward program.

Totum Wealth’s digital client engagement analytics tool helps financial advisers and individual investors improve risk assessment questionnaires by using interactive visualization of portfolio performance.

UCX’s centralized and transparent exchange allows CIOs, CFOs, and CTOs to compare cloud offerings using a single standardized unit of measure.

WiseBanyan uses Airflow (open source of AirBnB) to collect data to better serve its clients.

Wisdom Design Associates uses policy-based authorization technology to help compliance-reliant companies maintain fine-grained control of complex processes.

WooTrader helps everyone from first-time investors to financial institutions leverage predictive analytics models in stock research.

FinovateFall Sneak Peek: Uniken

FinovateFall Sneak Peek: Uniken

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Uniken is a game-changing cybersecurity firm that makes connecting safe, simple, and scalable through a patented, relative-identity (REL-ID) and mutual authentication protocol (REL-IDverify). No VPN, SSL, or OTP required.

Features:

  • Seamless user experience for login, verification, and authentication
  • Multifactor authentication that’s behind-the-scenes and out-of-the-box
  • Significant reduction in attack surface (MITM, HEIST, etc.)

Why it’s great
Our innovative REL-IDverify product allows mobile, out-of-band authentication for any omnichannel transaction—all protected by the integrated REL-ID identity, authentication, and secure channel solution.

PresentersUnikenPresenter1

Bimal Gandhi, CEO
Gandhi has two decades of global experience across management consulting, technology, and financial services industries within the U.S., U.K. and India.
LinkedIn

UnikenPresenter2Robert Levine, Global VP Business Development
Levine is an established cyber security “insider” having built and exited two firms focused in the sub-field of identity and access management. He has 20 years of focused cyber-security experience.
LinkedIn