FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Avoka, Backbase, BBVA, Bluefin Payment Systems, Chain.com, Envestnet, Expensify, FinDEVr APIntelligence, Hyperwallet, InComm, Intuit, Kabbage, modoPAYMENTS, On Deck Capital, PayPal, Temenos, Trulioo, Yodlee

FinDEVr Silicon ValleyFDNY17_EventLogo_v1(wdate) was a success! Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

On FinDEVr.com

The latest from FinDEVr Silicon Valley presenters

  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Hyperwallet announces support for real-time, push-to-card payments-solution,Visa Direct.
  • Full Envestnet | Yodlee Integration Give Advisers Big Picture View of Client Finances.
  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Expensify launches direct integration with Zenefits.

Alumni updates

  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • Bluefin Payment Systems launches cloud-based hosting option for its DecryptxPCI-validated P2PE product through Amazon Web Services.
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal.
  • Chain launches open-source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • On Deck Capital and Kabbage agree to disclose SMB loan pricing.

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

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Nanopay Raises $10 Million Series A

Nanopay Raises $10 Million Series A
By David Penn Posted on
Categories: Funding, Fundings, nanoPay

nanopay_homepage_october2016

With support from Goldman Sachs, Canadian payments innovator nanoPay has raised $10 million in new funding. The Series A also featured the participation of APAGM Services, Jarnac Capital Management, and Rohatton. nanoPay said the investment will help it develop business partnerships in advance of a larger rollout of its MintChip digital currency technology. The funding will also help nanoPay build additional complimentary services for both the B2B and B2C markets.

nanoPay CEO Laurence Cooke elaborated on this point, saying that in the wake of MintChip’s successful deployment in Canada this summer “our focus is now on expanding the platform beyond digital cash to a broad range of B2B uses-cases that have global applications.” Cooke referred to both B2C disbursements and cross-border payments as examples.

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Laurence Cooke, nanoPay founder and CEO, demonstrated MintChip at FinovateFall 2016 in New York.

Developed by the Royal Canadian Mint and purchased by nanoPay in 2015, MintChip is a cloud-based currency that can be used to securely store and transfer digital value instantly, without third-party intervention. The technology provides for final, irrevocable transactions in real-time that are cryptographically secured. For consumers, MintChip provides a faster checkout process that combines both loyalty programs and payments, and works online as well as in-person. With its open API platform, MintChip has potential applications beyond commerce, including in telecommunications, central bank operations, and for acquirers.

Founded in 2011 and headquartered in Toronto, Ontario, Canada, nanoPay demonstrated MintChip at FinovateFall 2016. Earlier this month, the company announced that Liberty Village would serve as a “working lab” for its digital currency. In July, nanoPay added Tracy Molino as general counsel and chief compliance officer and, in June, the company partnered with Ingenico Group to enable merchants to accept MintChip via their Ingenico Group smart terminals.

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H2 Ventures and KPMG Unveil 2016 Fintech 100

H2 Ventures and KPMG Unveil 2016 Fintech 100
By David Penn Posted on
Categories: Azimo, Coinbase, Credit Karma, Feedzai, Finova Financial, identitii, itBit, Kabbage, Klarna, Kreditech, Lending Club, LendUp, Motif Investing, North Side, Nubank, On Deck Capital, Overbond, Payoneer, Prosper, Rippleshot, SecureKey, SocietyOne, Tink, TipRanks, Wealthfront, Xero, Zooz

h2_kpmg_2016fintech100

H2 Ventures and KPMG have released their Fintech 100 roster for 2016. Divided equally between 50 “industry leaders” and 50 “emerging stars,” the roster features 17 Finovate/FinDEVr alums in the first category, and 10 in the second. Calling its roster a “celebration” of the most compelling innovators in this “bold new space,” the H2 Ventures/KPMG 2016 Fintech 100 covers a variety of different shades of fintech:

  • Lending (32 companies)
  • Payments (18 companies)
  • Insurance (12 companies)
  • RegTech (9 companies)
  • Data & analytics (7 companies)
  • Wealth management (6 companies)
  • Blockchain (5 companies)
  • Digital currency (5 companies)
  • Capital markets (3 companies)
  • Crowdfunding (2 companies)
  • Accounting (1 company)

And here is a look at how Finovate/FinDEVr alums fared. Earning recognition among the companies in the Leading 50 group are:

Also noteworthy in the Leading 50 are Ant Financial, which acquired Best of Show-winning EyeVerify in September 2016, and Avant, which acquired Finovate alum ReadyForZero in the spring of 2015.

Additionally, Finovate/FinDEVr alums earning spots in the Fintech 100’s 50 Emerging Stars roster were:

The H2 Ventures/KPMG report includes a geographic breakdown of the 2016 Fintech 100, as well as a set of key takeaways such as increased geographic diversification, the return of lending, the continued ascent of Insurtech, and the appearance of RegTech. The report also notes that China now has four out of the top five companies in the report’s top 10, and eight companies in the top 50. The report says funding for fintech “continues to rise,” and its authors cite more than $14 billion in capital was raised by the Fintech 100 in the past year.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: BBVA, Bluefin Payment Systems, Civic, FIS, Handpoint, InComm, PayStand, PrivatBank, Signifyd, Socure, Temenos, ThetaRay, TSYS, Yoyo

On Finovate.com

  • H2 Ventures and KPMG Unveil 2016 Fintech 100

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to U.K.’s high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.
  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • FIS to provide reconciliation solution to U.K.-based Raphaels Bank to facilitate access to faster payments.
  • PayStand offers payment certification and notarization for its customers via the blockchain.
  • PrivatBank adds fund-transfer functionality via iMessage to its Privat24 mobile banking app.
  • ThetaRay unveils its analytic platform for fraud detection, THETA.

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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Revealed: The Full Presenter Roster for FinovateAsia 2016

Revealed: The Full Presenter Roster for FinovateAsia 2016
By Erika Sanchez Posted on
Categories: Finovate Marketing, FinovateAsia 2016

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As we approach the home stretch with just under two weeks to FinovateAsia 2016, we’re thrilled to announce the full presenter roster. This list includes 36 presenting companies and 252 minutes of the most cutting-edge innovations in fintech—all in just one day.

The full presenter roster is on our website and below:

To get an inside look into our presenting companies and their innovations, check out our sneak peek blog series that we’ll continue to update up until the event.

We hope you’ll join us as we launch Finovate’s first Hong Kong event. Tickets are on sale at finovateasia2016.eventbrite.com. Space is limited, so get your ticket soon!

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Lending Club Launches Car Loan Refinance Product

Lending Club Launches Car Loan Refinance Product
By Julie Muhn (@julieschicktanz) Posted on
Categories: Lending Club

screen-shot-2016-10-25-at-11-02-05-am

U.S. P2P lending giant Lending Club has been offering car buyers an alternative borrowing experience since it launched ten years ago. Today, the company announced it is bringing that same transparent experience to the auto refinancing industry.

In its press release, the company cited data from the Center for Responsible Lending, which states that consumers pay as much as $25 billion in interest payments every year due to “dealer markup” of their interest rate. Lending Club’s new Auto Refinancing product offers a solution that gives qualified borrowers a more affordable monthly payment and interest rate.

The California-based company, which already offers credit card debt refinancing, hopes to tap into the $1 trillion auto loan market. Consumers can apply online with no hard credit inquiry and compare refinancing offers against their existing auto loan. Lending Club will pilot Auto Refinancing to California residents with FICO scores above 640, but plans to expand geographically and to people with lower FICO scores.

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At launch, the company is not using its marketplace lending model to fund the auto debt; instead, the company itself will buy the debt. However, according to Lending Club CEO Scott Sanborn, the leverage of the company’s balance sheet is only temporary and will be immaterial.

Stakeholders seem to be responding well to today’s news. Lending Club’s stock is up 1.64% to $4.95, still below the company’s $15 IPO price. Lending Club’ stock dipped in May after its then CEO Renaud Laplanche stepped down amid accusations of loan-documentation errors.

Founded in 2006, Lending Club demoed at FinovateSpring 2009 and at the inaugural Finovate in 2007.

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Lendio Closes $20 Million Funding Round

Lendio Closes $20 Million Funding Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Lendio

lendio_homepage_october2016

Small-business loan-marketplace Lendio today reeled in $20 million in Series D funding. Leading the round were Comcast Ventures and Stereo Capital. Existing investors Napier Park, Blumberg Capital, Tribeca Venture Partners and North Hill Ventures also contributed, bringing Lendio’s total funding to $31 million.

The Utah-based company will use the funds to boost Lendio’s growth via marketing, sales, and brand awareness, which should augment its YOY growth, which already sits at 100%. Other growth figures include:

  • In Q3, Lendio funded $63+ million in loans, up 14% from Q2 2016
  • In Q3, Lendio funded more than 2,900 businesses, up 22% from Q2 2016
  • Lendio saw a record number of repeat customers in Q3, up 33% over Q2 2016

Regarding the company’s growth, Lendio founder and CEO Brock Blake said, “Even though we’ve helped facilitate funding for more than 13,000 small business owners, we’re just scratching the surface as to the number of business owners that we can help; our goal is to help fuel the American Dream for the millions of SMBs that make up the backbone of our U.S. economy.”

Lendio seeks to decrease the time it takes for small businesses to secure loans. The company works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. Lendio partnered with American Express in April to power its merchant-financing offering. In 2015, the company facilitated $128+ million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.

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New Investment Boosts Alpha Payments Cloud Valuation to $250 Million

New Investment Boosts Alpha Payments Cloud Valuation to $250 Million
By David Penn Posted on
Categories: Alpha Payments Cloud

alphapaymentscloud_homepage_october-2016

While terms of this week’s investment were not disclosed, the new funding for Alpha Payments Cloud from Australia-based First Quay Capital is believed to have taken the company’s valuation to $250 million.

In a statement issued from First Quay Capital, Talal Yassine, chairman, is quoted as saying: “We are very excited to be investing in, and partnering exclusively with, Alpha in the Gulf region and selected countries in the Middle East.” He called Alpha Payments Cloud “the next generation of unique, innovative, cost-effective institutional middleware on a revolutionary global platform.” First Quay specializes in investments in high-growth industries such as finance, healthcare, and education. The firm also provides support to companies looking to grow their presence in the MENA (Middle East and North Africa) region.

alphapaymentscloud_feu16_stage

Alpha Payments Cloud CEO Oliver Rajic demonstrated AlphaHub at FinovateEurope 2017.

For the financial sleuths out there, recall that Alpha Payments Cloud picked up an investment from Wells Fargo this summer courtesy of its participation in the bank’s Startup Accelerator program. And while the amount from Wells Fargo was also not disclosed, the company reported the investment took its valuation to $100 million. The fact that First Quay Capital’s investment more than doubles Alpha Payments Cloud’s valuation suggests a significant capital infusion.

Founded in June 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016. The company’s Payments-as-a-Service technology provides a middleware layer that both “amplifies third-party access” while making new vendor selection as easy as “the click of a button.” Via the AlphaHub API, users can access more than 250 third-party solutions, as well as Alpha Payments Cloud’s proprietary technologies to ensure access to “any payment type, any solution provider, anywhere in the world.”

Alpha Payments Cloud also this month teamed up with Australian online security innovator, Haventec, and will serve as the startup’s preferred integration provider for its identify authentication and secure payment services, Haventec Authenticate and Secure Wallet, respectively. And earlier this month, the company announced a partnership with RS2 Software that would help support banks in Thailand.

Recipient of a Best of Show award for its demo at FinovateSpring 2015, Alpha Payments Cloud will demonstrate its latest technology at FinovateAsia 2016 in Hong Kong, 8 November. Visit our FinovateAsia 2016 page for more details and information on how to buy tickets and save your spot at this year’s event.

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FinovateEurope 2017 Application Deadline Just Days Away

FinovateEurope 2017 Application Deadline Just Days Away
By David Penn Posted on
Categories: FinovateEurope 2017

feu2017_horizontalbanner_dark

It’s that time again: The application deadline for FinovateEurope 2017 is this Friday, 28 October. So if you’re thinking about being a part of the show when Finovate returns to Old Billingsgate Market Hall in London on 7/8 February 2017, then now is the time to put the finishing touches on that application and send it our way.

FinovateEurope is the premier event for startups and veteran companies alike to showcase their most compelling fintech solutions. Whether your innovation brings new biometric authentication technologies to the enterprise (as Best of Show winners EyeVerify and IDScan Biometrics did at FinovateEurope 2016), unveils faster, more efficient ways to onboard customers or use transaction-data analytics (such as FinovateEurope 2015 Best of Show winners Avoka and Meniga, respectively), or even just helps average Janes and Joes better manage their finances (think Tink and Toshl, Best of Show winners from FinovateEurope 2014), there is no better place than Finovate to demonstrate your team’s latest and greatest fintech solutions.

feu2016_crowd_for_feu2017_tixdeadline

So if FinovateEurope sounds like the kind of opportunity you can’t afford to miss, then here’s what you need to know:

  • Download and review the FinovateEurope 2017 informational PDF for prospective presenters. This document includes background information on the conference itself, our unique demo-only format, as well as an insight into the kind of knowledgable, professional attendees that make up our anticipated audience of more than 1,500, and much more.
  • If you think your technology has what it takes to wow our crowd and make a real difference in the way we save, spend, invest, and interact with the world of finance, then complete your application at europe2017.finovate.com/application and submit it to us by this Friday, 28 October.*
  • That’s it! Our team will review your application and contact you in the next few weeks.

Application season is always a great time for us here at Finovate to get a glimpse at the wide variety of financial technologies that have been incubating for months and are now ready for prime-time. If you have any questions about FinovateEurope 2017 or our application process, please get in touch with us at [email protected]. We’re looking forward to hearing from you!

*Want to apply to FinovateEurope 2017, but still need a bit more time? Email us at [email protected] and we’ll be happy to help.

FinovateEurope 2017 is sponsored by: Financial Technology Partners and KPMG, and is partners with SME Finance Forum and Verdict Financial. Additional sponsors and partners will be announced soon.

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FinovateAsia Sneak Peek: FixNix

FinovateAsia Sneak Peek: FixNix
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, FixNix

screen-shot-2016-10-24-at-1-59-32-pm

FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

FixNix was born as a bootstrapping entrepreneurial venture to build an affordable cloud GRC suite for growth markets and SMBs.

Features:

  • User friendly: It doesn’t deliver a product, it delivers an experience
  • Automation: There is no magic, nor are there hidden tricks, but FixNix’s technology can take you there
  • Simple reporting

Why it’s great
Cloud-ify your regulatory compliance in just 2 minutes!

Presenterscreen-shot-2016-10-24-at-1-55-04-pm

Shanmugavel Sankaran, CEO, founder
Sankaran, aka Shan, worked for Capillary Technologies as CISO, gaining extensive experience and deep understanding of software and cyber security.
LinkedIn

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FinovateAsia Sneak Peek: Sentifi

FinovateAsia Sneak Peek: Sentifi
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, Sentifi

screen-shot-2016-10-25-at-9-35-09-am

FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Winner of the 2016 Swiss Fintech award, Sentifi generates real-time, actionable crowd intelligence from over 3 million financial sources not yet available via traditional news outlets.

Features:

  • Real-time insights for your investment portfolio
  • Targeted content and analysis from over 3 million sources
  • Custom solutions for media platforms to increase traffic, revenue, and user engagement

Why it’s great
Sentifi makes it simple to maximize your investment strategy. Using the power of the crowd, “Sentifi” your portfolio to gain real-time insights from over 3 million qualified sources. All in one place.

Presenterscreen-shot-2016-10-25-at-9-44-19-am

Dr. Anders Bally, CEO
With a passion for financial technology and crowd intelligence, Bally has used his 25+ years of experience in global financial markets to connect the world with innovative insights previously unavailable.
LinkedIn

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, AdviceRobo, Avoka, Backbase, Bill.com, Bizfi, Chain.com, Fiserv, Hyperwallet, Intuit, Lending Club, Lendio, PayPal, Trulioo, Yodlee

On Finovate.com

  • Lendio Closes $20 Million Funding Round
  • Lending Club Launches Car Loan Refinancing Product
  • Check out today’s sneak peeks of upcoming FinovateAsia demos:

Around the web

  • AdviceRobo reaches 900k credit scores
  • Bill.com partners with Intuit to power end-to-end accounts payable within QuickBooks Online
  • Actiance appoints Cynthia Crossland as CMO
  • Entrepreneur Magazine names Cardlytics One of the Best Entrepreneurial Companies in America
  • American Banker: Bizfi Hires Former Lending Club Exec as New CEO
  • Intuit expands partnership with PayPal to provide QuickBooks’ Online customers with a new way of accepting payments via PayPal
  • Farm Credit Services of America picks DNA from Fiserv to support agricultural lending
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries
  • Hyperwallet announces support for real-time, push-to-card payments solution, Visa Direct

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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