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

FinovateFall Sneak Peek: Featurespace

FinovateFall Sneak Peek: Featurespace

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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.

Featurespace is the world leader in adaptive behavioral analytics delivered via ARIC Fraud Hub, a real-time, machine learning, fraud management system that understands individual behaviors.

Features:

  • Monitor real-time digital customer behavior across the end-to-end lifecycle
  • Improve fraud detection during onboarding, account activity, transactions
  • Increase revenue acceptance from genuine customers by 70%

Why it’s great
ARIC Fraud Manager’s new In-Session Behavior online monitoring enables financial institutions to protect their customers across the end-to-end lifecycle, while accepting more revenue.

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Presenter: Matt Mills, Commercial Director
Mills is responsible for the commercial team at Featurespace. He is the former global head of partnerships and innovation at Aurasma, where he previously worked with Martina King (Featurespace CEO).

TransferWise Launches TransferWise for Business to the Public

TransferWise Launches TransferWise for Business to the Public

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Foreign currency-exchange platform TransferWise today announced it has released a new segment out of beta. The London-based company launched TransferWise for Business to the public, offering businesses access to international money transfers.

The beta test of the new offering began in May, just after the company closed a $26 million round. Since then, after working “closely with businesses to create a product that meets their needs,” TransferWise has helped business customers transfer more than $1.3 billion using the platform. According to the website: “Businesses can now use TransferWise to pay suppliers or employees overseas, request payments from customers, and transfer funds between their own accounts in different countries.”

Following its ethos, TransferWise does not charge businesses to sign up and there are no monthly fees. By leveraging the ability to transfer money within its network of banks, the company makes sending money abroad up to 7x cheaper than using a business bank account. For bulk overseas payments, TransferWise launched Mass Pay (not to be confused with Dwolla’s MassPay), a batch-payment solution that lets businesses send and track large numbers of payments. Mass Pay is available as an API or on the web interface, which allows for one-by-one or bulk file uploads via CSV.

TransferWise demoed at FinovateEurope 2013. The company, founded in 2010, now boasts 1 million customers and more than $116 million in funding.

FinovateFall Sneak Peek: BondIT

FinovateFall Sneak Peek: BondIT

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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.

BondIT drives fixed-income sales by empowering advisers with data-driven recommendations generated by machine-learning algorithms. It is proven to increase revenues and client satisfaction.

Features:

  • Create algo-optimized, personalized portfolios instantly
  • Rebalance and improve portfolios with various optimization targets: sharp, yield, or risk
  • View advanced analytics and set intelligent alerts

Why it’s great
Optimization solutions for equities can, for the first time, be applied to bonds. BondIT is your way to harness powerful machine-learning to boost your sales!

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Presenter: Eran Nachshon, Chief Operating Officer
Nachshon served seven years as an IDF computer officer and seven years at Barclays as a trader and technology project manager. He holds an MBA from New York University.
LinkedIn

RealtyMogul.com to Raise $50 Million with New REIT, MogulREIT I

RealtyMogul.com to Raise $50 Million with New REIT, MogulREIT I

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Real estate crowdfunding for the retail investor? The new, non-trading REIT (real estate investment trust) launched by RealtyMogul.com is designed to provide just that. Called MogulREIT I, the REIT takes advantage of Regulation A+ in Title IV of the JOBS Act and will be used by RealtyMogul.com to raise up to $50 million. Most interestingly, unlike the crowdfunding platform itself, nonaccredited investors will be able to invest in MogulREIT I.

“We’ve made it our mission to introduce a fair and simple way to invest in real estate,” CEO and founder Jilliene Helman said in a video explaining MogulREIT I. “The launch of our REIT is another step towards making real estate investing accessible for more and more people across the country.”

MogulREIT I is built to provide investors with consistent cash distributions as well as capital preservation and appreciation. The REIT charges no sales commission, and only a 3% organization and offering expenses fee (typically, for non-traded REITs, these sums are 7% sales commission and as much as 15% in organization and offering expenses.) The savings come courtesy of RealtyMogul.com’s decision to directly offer the REIT via its own website “eliminat(ing) the traditional, manpower-intensive distribution channels and the high expense load that comes with them.”

The REIT invests in apartment buildings, industrial parks, office complexes, retail centers, and self storage facilities. No “ground-up construction or land development” properties will be invested in by the REIT, which pledges to rely on established and experienced real estate companies and professionals, as well as communities “with strong economic fundamentals.” Funds can be withdrawn on a quarterly basis and the minimum investment is $2,500. Read the offering circular for more information.

Founded in 2012 and headquartered in Los Angeles, California, RealtyMogul.com demonstrated its crowdfunding tool for real estate at FinovateSpring 2014. More than 80,000 individual investors have joined RealtyMogul.com since its inception, with more than $200 million in debt and equity invested through its platform. Investors have received more than $40 million in payouts.

FinovateFall Sneak Peek: RightCapital

FinovateFall Sneak Peek: RightCapital

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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.

RightCapital provides a Department of Labor, fiduciary-focused, financial planning solution that digitizes and redefines the financial planning experience for financial advisers and their clients.

Features:

  • Innovative and integrated financial planning and tax planning
  • Department of Labor, fiduciary-focused, solution
  • Significantly reduces time and cost of creating a plan and improves user experience.

Why it’s great
RightCapital is all about “financial planning done just right.”

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Presenter: Shuang Chen, CEO and Cofounder
Chen has more than 15 years of experience in investment and retirement. Prior to RightCapital, Chen was a senior vice president at Prudential Financial. Shuang mholds a masters in business administration and is a CFA, FisSA.
LinkedIn