Finovate Alumni News

By David Penn Posted on
Categories: Bento for Business, CardFlight, Compass Plus, DriveWealth, Kony, NYMBUS, Ping Identity, Tango Card, Temenos, ThetaRay, ThreatMetrix, Zooz

On Finovate.com

  • NYMBUS Raises $12 Million in Round Led by Vensure  Enterprises
  • CardFlight to Power EMV Mobile Processing for BluePay
  • Bento for Business Unveils New Mobile App

Around the web

  • Investopedia features Zooz and ThetaRay in a look at Israeli fintech startups.
  • National Bank of Kuwait goes live with Temenos Treasury Trader.
  • Compass Plus earns Faster Payments accreditation.
  • InformationWeek lists CrowdFlower in its lineup of cool machine learning startups to watch.
  • Ping Identity launches Contextual Access Management capabilities to help companies with digital transformation and cloud and mobile initiatives.
  • GeekWire features Tango Card. Watch the startup’s live demo at FinovateFall next month.
  • Kony enhances support for applications running on Amazon Web Services (AWS) and updates offerings in AWS Marketplace.
  • ThreatMetrix appoints key executives to initiate Asia Pacific expansion.
  • TradingView announces support for DriveWealth.

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 Trending: Alt-Lending Woes, Asia Grows and Everbank Exits

Fintech Trending: Alt-Lending Woes, Asia Grows and Everbank Exits
By Julie Muhn (@julieschicktanz) Posted on
Categories: Azimo, BanQu, Fintech Trending, Fiserv, InComm, Lending Club, MasterCard, On Deck Capital, PayPal, Prosper, Trulioo, VISA, Xero

A look at the trending topics of the past two weeks.

Trending highest: No Lush Life for Alt Lenders

LushLIfe_Coltrane_albumcoverIf unanimously positive perceptions are the hallmark of a bubble, then rest assured that the alt-lending market has moved past that stage. For every headline-grabbing C-level departure at Lending Club (F09)—CEO Renaud Laplanche stepping down in June, CFO Carrie Dolan announcing her resignation in August—there are successes: Prosper (F09) revealed its plan to sell $5 billion in loans to a group of private investors over the next two years; small business lender OnDeck (F12) surpassed earnings expectations despite its second consecutive quarterly loss and reported year-over-year quarterly revenue gains, as well as a year-over-year increase in loans under management of 47%.

So if there’s no bubble in the alt-lending part of the fintech universe, should we fear a bust? Diverging fortunes among these companies is a good sign. The more the fates of alternative lenders are linked to the decisions of individual corporate leaders, their business plans, and their customers rather than investing trends among venture capitalists (or hedge funds in the case of alt lenders gone public), the better. Looking at the P2P lending market in the U.K., LendInvest CEO Christian Faes told Business Insider, “Over the next few years, the businesses that can prove they can make a profit will be the ones [still] around in another ten years, making a lasting impact on finance.” In other words, just like any other business.

For Lending Club, the challenge is diversifying away from “fickle funding sources.” In addition to Prosper’s $5 billion move, Social Finance went so far as to launch a hedge fund, the $15 million SoFi Credit Opportunities Fund, to purchase its loans as well as those of its competitors.

  • OnDeck Loan Originations (And Loan Loss Provisions) Soar – PYMNTS.com
  • OnDeck Defends Strategy After $17.9 Million Loss – American Banker
  • Online Lenders Have a Tough Job Ahead – Wall Street Journal
  • The U.K.’s historically low interest rate could benefit alternative lenders – Business Insider
  • Lending Club’s latest results tell us a lot about the online credit business model – FT Alphaville

Other trending topics

Fintech Advances in Asia
While investors have been bullish on the tech scene in Asia for some time, a slew of new reports appeared this month. TechCrunch recently reported that in 2015 and the first half of 2016, fintech accounted for 21% of all VC funding in Southeast Asia. In a recent blog post, Trulioo (F15) said that fintech startups in Asia garnered $4.5 billion in 2015, triple what European fintech firms received during the same period. Recent developments include:

It’s no coincidence that Finovate is returning to Asia now to bring the innovators together in one place. Join us November 8, 2017, in Hong Kong for FinovateAsia 2016 as we showcase the latest and greatest.

Blockchain Developer, UNICEF Wants YOU!
The United Nations Children’s Emergency Fund is looking for a developer interested in using blockchain technology to help “solve the problems of the developing world.” Interested parties can find out more about the position here. And if the combination of blockchain and the developing world sounds familiar, it may be because you’re thinking of recent Finovate Best of Show winner BanQu (F16) which has developed a blockchain-based identity platform that promotes financial inclusion and empowerment among the underbanked, including refugee populations.

Hello, It’s Me: Voice Auth Comes to Barclays
Barclays adds instant voice authentication for all 12 million retail customers, ending 30 years of maneuvering through tedious telephone prompts and redundant authentication questions. – Bank Innovations

Everbank’s Awesome Exit
1990s digital banking pioneer Everbank exits for $2.5 billion in sale to TIAA. After PayPal (F12), this is the most successful fintech company to come out of the original 1990s dot-com era. – PYMNTS.com

Mastercard on the Move
Early Warning’s clearXchange saw some growth as of late. Mastercard, which announced this week that its Mastercard Send U.S. debit cardholders can send and receive money through the clearXchange network. Fiserv (F16) will also become a distribution partner for clearXchange, leveraging the partnership to provide a turnkey solution for banks.

Speaking of Mastercard, the company is looking at the newly announced partnership between PayPal and Visa (FD14), with an eye toward striking a similar deal. Finextra talked with Mastercard CEO Singh Banga who said it will be “important for Mastercard to provide something in addition to what Visa’s offered” as Mastercard “doesn’t have as much to offer PayPal” as Visa did because it has fewer consumers.

Azimo Goes Social
London-based Azimo (F13) took a step toward facilitating P2P payments by launching money transfers via Facebook Messenger. Interestingly, the transfer is initiated within the Azimo app (via Facebook integration) and completed in Facebook Messenger.

Insurance for Everything
Insurance startup investors are betting big that the smartphone platform allows a new breed of insurance products to flourish, so-called insurance on demand. The classic example is an alert when arriving at the airport asking if you would like to buy travel insurance. But the bigger market automobile/motorcycle policies are offering coverage only when you are using the vehicle. Our Insurance for Everything example of the week? On-demand insurance for your drone courtesy of Verifly. – Techcrunch

Also keeping our eyes on …

  • On August 2, 2016, Bitcoin dropped 20% after $70M worth of bitcoin (around 12,000 BTC) was stolen from Bitfinex exchange. The company is now offering a reward of up to $3.6 million for the recovery of the digital currency. Bitfinex said it has taken “significant steps” to improve its security, and resumed trading on its platform on Thursday, August 10. – TechCrunch
  • The U.K.’s FCA has granted app-only bank Mondo a banking license, thereby joining the ranks of neobanks Atom Bank, Tandem, and Starling. – The Financial Times
  • “An Interview with the Inventor of the Credit Card Chip Reader” – The New Yorker
  • “The Dawn of the Virtual Assistant” – The New York Times

Parentheticals after a company name refer to the year of their most recent Finovate or FinDEVr conference appearance (F = Finovate, FD = FinDEVr).

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vaamo Partners with N26 (Formerly Number26)

vaamo Partners with N26 (Formerly Number26)
By Julie Muhn (@julieschicktanz) Posted on
Categories: vaamo

Screen Shot 2016-08-12 at 9.20.56 AM

Screen Shot 2016-08-12 at 11.12.04 AMRobo-adviser solutions-provider vaamo teamed up with one of the hottest fintech players in Germany today, neobank N26 (formerly Number26). N26 is using vaamo’s API to offer clients N26 Invest, a co-branded solution that lets users select from three investment strategies depending on their risk tolerance.

After developing its robo-adviser platform for private investors in Germany, vaamo is seeking to bolster its B2B business model. The company will power an online, automated investment solution for N26. This is the first third-party partner vaamo has signed for its B2B solutions, which can be co-branded or fully white-labeled and are available as a financial intermediary or discretionary portfolio-management solution.

vaamo says its robo-adviser platform addresses younger customers who are “not easily accessible via traditional sales channels” and it helps businesses more profitably serve customers with smaller investment volumes. Maximilian Tayenthal, founder of Number26, said, “vaamo matches perfectly our concept and enables us to provide our customers with an easy and reasonable investment opportunity.”

vaamo launched its goal saving app at FinovateEurope 2014 in London. The company has raised $3.8 million in two rounds from Route 66 Ventures.

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FinDEVr Alum UpGuard Raises $17 Million Series B

FinDEVr Alum UpGuard Raises $17 Million Series B
By David Penn Posted on
Categories: Funding, Fundings, ScriptRock, UpGuard

UpGuard_homepage_August2016

Cybersecurity specialist UpGuard has raised $17 million in new funding from a group of investors that included a “strategic investment” from Australian insurance giant, IAG. The company, which made its FinDEVr debut last fall in San Francisco as ScriptRock, will use the capital to help grow its CSTAR cybersecurity preparedness-assessment solution, as well as double staff to 120 by early next year. UpGuard co-CEO and cofounder Mike Baukes said that “by providing the tools needed to build resilient information systems, make strategic decisions with real data in real time, as well as obtain cyber insurance should the worst case scenario occur, we equip businesses to start fighting fire with fire.”

UpGuard_Scriptrock_stage_FDSF2015

Alan Sharp-Paul, cofounder and co-CEO of UpGuard, during his presentation, “Integrity in the Age of DevOps,” at FinDEVr San Francisco 2015.

The Series B was led by new investor Pelion Venture Partners and existing investor Square Peg Capital. All of UpGuard’s other current investors participated in the round as well, which takes the company’s total capital to $27 million. Speaking about the investment, Pelion Ventures Partner Chris Cooper said, “UpGuard’s ability to assess both external and internal risk factors is a huge step forward in understanding the complete security posture of a business.” He also praised CSTAR’s “technical rigor and simplicity” when it comes to helping companies to better manage data-breach risks.

CSTAR provides enterprises with a comprehensive and actionable cybersecurity preparedness score. FinDEVr2015-AlumniV2Similar to the way financial risk is aggregated into credit scores for consumers, CSTAR gives businesses such as ADP, Citrix, and Rackspace a single, wholistic risk metric that still enables them to drill down to the server or device level to spot and remedy potential vulnerabilities. UpGuard believes CSTAR can serve as the basis for a cyber-risk benchmark for businesses and consumers alike, and will explore new opportunities with insurance companies, such as with IAG, to help them better assess their customer’s cyber risks. The company also provides a free external assessment tool for websites.

Founded in Australia and headquartered in San Francisco, UpGuard presented “Integrity in the Age of DevOps” at FinDEVr San Francisco 2015.

Looking to make your own splash in the world of DevOps? Join us for FinDEVr Silicon Valley 2016, on October 18 & 19, as we dedicate two days to the people who put the “tech” in fintech. Visit our registration page and save your spot today.

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Finovate Alumni News

By David Penn Posted on
Categories: ayondo, BizEquity, Chain.com, Shoeboxed, UpGuard, vaamo, Xero

On Finovate.com

  • Fintech Trending: Alt Lending Woes, Asia Grows, and Everbank Exits
  • FinDEVr Alum UpGuard Raises $17 Million Series B
  • vaamo Partners with N26 (Formerly Number26)

Around the web

  • ayondo launches simulated trading app, the ayondo academy.
  • Chain announces new partnership with Initiative for Cryptocurrency and Contracts (IC3).
  • Shoeboxed launches Direct Downloads for reports.

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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Braintree, Finicity, and Twilio Take Top Honors at API World Awards

Braintree, Finicity, and Twilio Take Top Honors at API World Awards
By David Penn Posted on
Categories: Braintree, Finicity, Twilio

2016API_Awards_homepage

Finovate and FinDEVr alums Braintree, Finicity and Twilio won recognition at the API World Awards sponsored by API World 2016. Braintree earned the top spot in the Payment APIs category for its payments-platform technology, and Finicity won first place in the Finance APIs category for its Financial Data API with TxPUSH. Twilio was the top recipient of votes in the Communication APIs category. The three companies were among 18 startups competing in more than 30 API categories ranging from API Infrastructure and API Security to Enterprise APIs and Internet of Things APIs.

The jury of six featured Michael Ludden, product manager, developer relations for IBM Watson; John Musser, founder and CEO of API Science; Neha Sampat, CEO of Built.io; Michael Stowe, developer relations manager for MuleSoft; Steven Willmott, CEO of 3scale; and Rob Zazueta, director of digital strategy, TIBCO Software.

API_Award_BraintreeBraintree’s payment platform serves both online and mobile merchants, providing a secure payment gateway, merchant account, recurrent billing and credit card storage. The company’s APIs are used around the world, giving businesses in 40 countries in North America, Europe, and Australia the ability to accept payments in more than 130 different currencies. Braintree demonstrated its payment solution Venmo Touch at FinovateSpring 2013, and more recently has been a mainstay of our FinDEVr developer conferences on both East and West Coasts. Braintree, which was acquired by PayPal for $800 million in cash in 2013, announced that its Venmo P2P solution could be used for in-app purchases with selected merchants starting last month.

API_Award_FinicityBased in Salt Lake City, Utah, Finicity demoed its Data Services technology at FinovateSpring 2015, and more recently presented at FinDEVr New York 2016 this spring. At FinDEVr, Finicity unveiled the first TxPUSH-compliant, real-time aggregation service that pushes transaction data to software apps rather than the standard “pull” methodology common to most aggregation services. The company joined forces with fellow FinDEVr alum Intuit when the latter transitioned away from financial data services earlier this year, and acquired fellow Finovate alum Aurora Financial Systems last fall. Nick Thomas is president and co-founder.

API_Award_TwilioTwilio demonstrated its Authy Two-Factor Authentication technology at FinDEVr San Francisco 2015 and at FinovateFall 2015. The company went public in June, raising more than $150 million, and now sports a market capitalization of $4 billion. Twilio announced that it would help AWS deliver SMS messages in July, and was named to the 2016 CNBC Disruptor 50 in June.

FinDEVr Silicon Valley 2016 goes live 8/9 October. Join us for two days of developer-friendly presentations, demonstrations, case studies, and more. Tickets are on sale now. So visit our registration page today and save your spot!

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Fintech Fundings: 26 Companies Raised $530 Million Third Week of July

Fintech Fundings: 26 Companies Raised $530 Million Third Week of July
By Jim Bruene Posted on
Categories: Funding

money_invest_flow

As July drew to a close, fundings continued at a brisk pace with 26 new fundings during the week ending July 22. However, it  was slightly less than the average of 28 fintech deals per week this year.

The total amount raised this week was $532 million. More than half ($325 million) were debt commitments to two alt-lenders, CommonBond ($300 million) and West Creek Financial ($25 million). Total equity raised this week was $207 million, including $23 million to Finovate alum Capriza (F15) in a round led by Andreessen Horowitz

The total number of deals YTD stands at 818, nearly double last year’s 429. Total dollars raised YTD is $18.6 billion, double the $9.3 billion raised during the same period a year ago.

——-

Fintech deals by size from 16 July to 22 July 2016:

CommonBond
Student loan marketplace lender
Latest round: $330 million ($30 million Series C + $300 million Debt)
Total raised: $754 million ($78.6 million Equity, $675 million Debt)
HQ: New York City, New York
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase

Fantex
Building tracking stocks for professional athletes
Latest round: $60 million
Total raised: $111 million
HQ: San Francisco, California
Tags: Consumer, investing, wealth management, alt-investments
Source: Crunchbase

West Creek Financial
Consumer point-of-purchase financing
Latest round: $25 million Debt
Total raised: $28.5 million ($3.5 million Equity)
HQ: Chicago, Illinois
Tags: SMB, B2B2C, credit, loan, underwriting, POS, point of sale
Source: Crunchbase

Capriza
Mobile development tools
Latest round: $23 million Series C
Total raised: $73.5 million
HQ: Palo Alto, California
Tags: Institutions, mobile, developers, Finovate alum
Source: Finovate

Omise
Payment gateway
Latest round: $17.5 million Series B
Total raised: $20.4 million
HQ: Bangkok, Thailand
Tags: SMB, merchants, credit/debit cards, API, developers
Source: Crunchbase

Deposit Solutions
Retail deposits platform
Latest round: $16.5 million Series B
Total raised: $23.6 million
HQ: Hamburg, Germany
Tags: Institutions, consumers, deposits, banking, CDs, savings accounts, Peter Thiel (investor)
Source: Crunchbase

Deal4Loans
Financial services comparison portal
Latest round: $15 million
Total raised: $15 million
HQ: Uttar Pradesh, India
Tags: Consumer, credit, loans, mortgage, credit card, discovery, insurance, price quotes, lead gen
Source: Crunchbase

MarketInvoice
Receivables financing marketplace
Latest round: $9.5 million Series
Total raised: $29.75 million
HQ: London, England, United Kingdom
Tags: SMB, commercial credit, factoring, underwriting, person-to-person, P2P, investing
Source: Crunchbase

Guideline Technologies
401(k) investment account provider
Latest round: $7 million
Total raised: $9 million
HQ: Burlingame, California
Tags: SMB, B2B2C, employers, HR, benefits, investing, retirement savings, investing, wealth management
Source: Crunchbase

Loc8
Invoicing and quoting system for mobile workers
Latest round: $5 million Series A
Total raised: $5 million
HQ: Richmond, Australia
Tags: SMB, accounting, billing, CRM, payments, bookkeeping
Source: Crunchbase

Zlien
Lien rights platform
Latest round: $5 million Series A
Total raised: $6.75 million
HQ: New Orleans, Louisiana
Tags: SMB, institutions, construction, underwriting, mortgage, home equity loans, credit
Source: Crunchbase

Qauntifeed
Digital wealth-management platform
Latest round: $4.5 million Series A
Total raised: $4.5 million
HQ: Hong Kong
Tags: Institutions, advisers, investing, financial planning
Source: Crunchbase

Abacus Labs
Employee expense-reporting management
Latest round: $3.5 million
Total raised: $3.5 million
HQ: New York City, New York
Tags: SMB, expense reports, payments, HR, employees, bookkeeping, accounting
Source: Crunchbase

Trim
Subscription and recurring-payments monitor
Latest round: $2.2 million Seed
Total raised: $2.2 million
HQ: San Francisco, California
Tags: Consumer, mobile, personal financial management, PFM, chatbot, spending management
Source: Crunchbase

Touche
Mobile payments and personal financial management
Latest round: $2 million Seed
Total raised: $2 million
HQ: Singapore
Tags: Consumer, payments, personal financial management, PFM, biometrics, authentication, mobile
Source: Crunchbase, TechInAsia

ZipBooks
Accounting software for small businessess
Latest round: $2 million Seed
Total raised: $2 million
HQ: Lehi, Utah
Tags: SMB, accounting, bookkeeping, invoicing, billing
Source: Crunchbase

Revalu8
Real estate trading platform
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: Sydney, Australia
Tags: Consumer, home buying, mortgage, discovery, lead gen
Source: Crunchbase

Gravie
Consumer health insurance portal
Latest round: $1 million
Total raised: $26.6 million
HQ: Minneapolis, Minnesota
Tags: Consumer, SMB, insurance management, employees, HR, benefits
Source: Crunchbase

NiYO Solutions
Payroll platform
Latest round: $1 million Seed
Total raised: $1 million
HQ: Bangalore, India
Tags: SMB, payments, employers, HR, benefits
Source: Crunchbase

Tax2Win
Tax filing portal
Latest round: $1 million Seed
Total raised: $1 million
HQ: Jaipur, India
Tags: Consumer, tax prep, payments
Source: Crunchbase

Neurensic
AI for detecting stock market manipulation
Latest round: $225,000 Convertible Note
Total raised: $225,000
HQ: Chicago, Illinois
Tags: Institutions, investing, security, fraud, traders, stocks, artificial intelligence (AI)
Source: Crunchbase

Birdly
Expense report system
Latest round: Not disclosed
Total raised: $120,000 prior to above
HQ: Paris, France
Accelerator: Y Combinator (YC)
Tags: SMB, expense reports, spending, employees
Source: Crunchbase

iServeFinancial
Financial services comparison portal
Latest round: Not disclosed
Total raised: Unknown
HQ: Pune, India
Tags: Consumer, credit, loans, credit card, discovery, insurance, price quotes, lead gen
Source: Crunchbase

Koho
Mobile banking
Latest round: Not disclosed
Total raised: $1 million
HQ: Vancouver, British Columbia, Canada
Tags: Consumer, payments, debit card, billpay, funds transfer, mobile, personal financial management, PFM
Source: Crunchbase

LQD Business Finance
Alt-lender to small businesses
Latest round: Not disclosed
Total raised: Unknown
HQ: Chicago, Illinois
Tags: SMB, commercial credit, loans, underwriting
Source: Crunchbase

ZestFinance
Consumer alt-lender
Latest round: Undisclosed Private Equity
Total raised prior to above: $262 million ($112 million Equity, $150 million Debt)
HQ: Los Angeles, California
Tags: Consumer, credit, loans, underwriting, underbanked, credit scoring
Source: Crunchbase

Image licensed from: 123RF

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FinovateFall Sneak Peek: Good Data

FinovateFall Sneak Peek: Good Data
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, GoodData

GoodData_homepage_Aug2016

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

GoodData is the leading platform for financial services and technology companies to create and distribute self-service analytics.

Features:

  • Interactive data products targeting B2B partners
  • Benchmarking sales and purchase behavior across locations to improve strategies
  • Cross-merchant analysis to identify co-marketing opportunities

Why it’s great
Financial service and technology companies can distribute analytics across their business networks and embed analytics in their existing solutions to maximize their competitive offering.

GoodData_blaine_mathieu

Presenter: Blaine Mathieu, Chief Marketing and Product Officer
With 25+ years’ executive experience, Mathieu leads GoodData’s global product and marketing strategy, investing in new market penetration and growth, and accelerating an innovative go-to-market model.
LinkedIn

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FinovateFall Sneak Peek: MarketX

FinovateFall Sneak Peek: MarketX
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, MarketX

MarketX_homepage_Aug2016

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

MarketX is a cross-border investment platform connecting pre-IPO shareholders with international, accredited investors to transact seamlessly and to build future business partnerships overseas.

Features:

  • Enabling private companies to raise funds in China
  • Helping pre-IPO shareholders to find liquidity
  • Providing data and research to help individual investors to invest in the best pre-IPO companies

Why it’s great
As a pre-IPO investor and shareholder, you can now find liquidity from the international markets.

Presenters

MarketX_CathrynChen2Cathryn Chen, CEO and Founder
Chen worked at Deutsche Bank, Rothschild, and JP Morgan in Hong Kong and London. She later joined EverString Technology as an early employee, leveraging predictive analytics for marketing automation.
LinkedIn

 

Han Lai, Product Lead
MarketX_Han_LaiLai worked for HSBC and PayPal before becoming an angel investor. At PayPal, he led the merchant product conversion and revenue optimization of 2,500 enterprise, SMB, and distribution partners.
LinkedIn

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FinovateFall Sneak Peek: Bitbond

FinovateFall Sneak Peek: Bitbond
By David Penn Posted on
Categories: Bitbond, FinovateFall 2016, FinovateFall 2016 Sneak Peek

Bitbond_homepage_August2016

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

Bitbond is the first global marketplace-lending platform for small business loans. The company will showcase its automated and country independent SME scoring.

Features:

  • Instant approval of SME loan applicants
  • Consistent scoring quality across countries for investors
  • High scoring efficiency and scalability

Why it’s great
Bitbond scores SME borrowers consistently and efficiently across different countries.

Bitbond_Radoslav-AlbrechtPresenters

Radoslav Albrecht, CEO and Founder
Albrecht is the founder and CEO of Bitbond; previously, he was a senior consultant at Roland Berger and worked at Deutsche Bank London.
LinkedIn

 

Bitbond_Jaroslaw-NowotkaJaroslaw Nowotka, CTO
Nowotka is the CTO of Bitbond. He is an experienced software developer and previously ran Helloslash, a website builder.
LinkedIn

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DriveWealth Expands APIs for Wealth Managers

DriveWealth Expands APIs for Wealth Managers
By Julie Muhn (@julieschicktanz) Posted on
Categories: DriveWealth

Screen Shot 2016-08-11 at 9.20.24 AM

DriveWealth, a company that offers retail investors around the world access to the U.S. equities market, announced the expansion of its suite of APIs to support investment advisers.

The New Jersey-based company is adding to its flagship investing platform by creating a set of wealth management APIs aimed at helping advisers build portfolios for their clients. The APIs, which are available to U.S. investment advisers and their international customers, will have fractional shares capability and access to U.S. equities.

The APIs offer three tiers of service:

  1. Make recommendations to clients, who implement the strategies on their own
  2. Make initial recommendations supported by automatic portfolio rebalancing
  3. Provide clients with a fully discretionary solution

“[Investment advisers] can streamline their workflow because our Wealth Management APIs seamlessly integrate real-time fractional share technology, allowing advisers to deploy one investment strategy across multiple accounts, regardless of a client’s investable assets,” said Harry Temkin, chief information officer at DriveWealth. “Advisers can choose to manage their clients’ accounts in a discretionary, non-discretionary, or blended environment to create weighted, customized portfolios.”

Founded in 2012, DriveWealth debuted real-time fractional trading at FinovateEurope 2016 in London. Earlier this summer, the company announced partnerships with Credit Ease and CaiGin International, two wealth management firms in China. DriveWealth also disclosed it has agreements in place with “several other” RIAs and wealth managers that will launch in the fall.

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FinovateFall Sneak Peek: TokBox

FinovateFall Sneak Peek: TokBox
By David Penn Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, TokBox

Tokbox_homepage_August2016

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

TokBox, a Telefonica company, developed and operates OpenTok, a global cloud platform for embedding live video, voice, messaging, and screen sharing into website and mobile applications.

Features:

  • Secure real-time video, voice, and messaging
  • Collaboration features including screen sharing and annotation
  • Easy to embed into your existing interface

Why it’s great
TokBox makes it quick and easy to embed secure real-time communications into financial service applications to offer high-touch customer service to clients online.

TokBox_Badri_RajasekarPresenter: Badri Rajasekar, CTO and SVP of Engineering
Rajasekar is the CTO and SVP of engineering at TokBox, the provider of OpenTok, the leading real-time communications platform. At TokBox, he leads the core engineering and operations teams.
LinkedIn

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