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D3 Digital Banking Platform Goes Live at First Tennessee Bank

By David Penn Posted on November 16, 2016
Categories: D3 Banking

The largest Tennessee-based bank, First Tennessee Bank, has gone live with a digital banking platform from D3 Banking. The deployment will provide a personalized banking experience for almost half-a-million digital customers while lowering costs for First Tennessee Bank. According to Kevin Karrels, SVP at First Tennessee Bank, D3 Banking "allows us to meet and exceed high consumer expectations in a configurable, scalable, and secure environment, competitively positioning ourselves for years of digital growth." He says consumers increasingly expect banks to provide state-of-the-art digital experiences, similar to those from companies like Apple and Google. CMO Michael Carter demonstrated D3 Small Business Banking at FinovateFall 2015. Calling First Tennessee a "forward-thinking institution," D3 Banking CEO Mark Vipond seconded Karrels' point on the needs of banking customers today. "Consumers expect their banks to personalize and anticipate their needs, just as they expect Amazon to recognize what items are relevant to them and Netflix…

Finovate Alumni News

By David Penn Posted on November 16, 2016
Categories: ACI Worldwide, Blockchain, CrowdFlower, D3 Banking, Interactions, iSignthis, Kony, NCR Corporation, Overbond, Ping Identity, ShopKeep POS, Standard Chartered Bank, wipro, Zopa

On Finovate.com "D3 Banking's Platform Goes Live at First Tennessee Bank" "Finovate Debuts: Overbond Leverages Technology to Reimagine Bond Issuance" Around the web Zopa applies for U.K. banking license. AGS Transact enters strategic alliance with ACI Worldwide, bringing its Universal Payments platform to the Indian market. Wipro extends partnership with ASG Technologies to enhance compliance for financial services companies around the world. iSignthis expands its reach into bitcoin industry as partner Coinify ApS announces new partnership with Blockchain. NCR to deploy its Pulse Banking app for operation management at Germany's Sparkasse Jena. ShopKeep ranks 116 on Deloitte’s Technology Fast 500. Standard Chartered launches personalized investment tool for affluent clients. Ping Identity becomes a Workday Certified Solution Partner. TechCrunch reports: CrowdFlower forms a three-person scientific advisory board. Bitcoin wallet company Blockchain is beta testing a new in-wallet purchase-option in partnership with payments-startup Coinify. Kony enhances its Mobility Platform with launch of…

Ahead of Anticipated IPO, ayondo Acquires TradeHero

By Julie Muhn (@julieschicktanz) Posted on November 15, 2016
Categories: ayondo, Mergers & Acquisitions, TradeHero

Brokerage and social trading platform ayondo has acquired the TradeHero brand. Singapore-based TradeHero offers a mobile-only social trading app that competes with ayondo's web-based brokerage platform. The deal expands Germany-based ayondo's footprint in Singapore and offers it access to TradeHero's stock-market-simulation app that has been ranked the #1 finance app in the Apple app store in 90+ countries. It is expected to bolster ayondo's 220,000 users from 195 countries. The acquisition is strategic for ayondo and part of a string of expansion efforts. In a press release, ayondo CEO Robert Lempka said, “For ayondo, mobile technology is a big part of the Group’s strategy for expansion and growth. The TradeHero brand is extremely well established in Asia and was the missing piece in our product range.” Today's news comes almost a year after ayondo partnered with KGI Fraser Securities to launch KGI Contrax, a platform for investors to trade Contracts…

P2Binvestor Scoops Up More Than $7 Million in New Funding

By David Penn Posted on November 15, 2016
Categories: Funding, Fundings, P2BInvestor

Small business marketplace lender P2Binvestor announced $7.7 million in new funding, courtesy of a Series A round led by Rockies Venture Club (RVC). Also participating in the Series A was Japanese venture capital firm, Future Venture Capital Co. (FVC). The investment in P2Binvestor was FVC's first direct investment outside Japan. P2Binvestor founder and CEO Krista Morgan said that her company was filling a significant niche for SMEs seeking financing to grow. "We're seeing more interest in our model as venture funding hits a two-year low and more entrepreneurs are looking for ways to grow their business—while preserving their equity—by using good-quality, flexible debt," Morgan said. She added that the new capital will be invested in technology as well as sales and marketing "as we scale to meet market demand." P2Binvestor founder and CEO Krista Morgan demoed her company's technology at FinovateFall 2014. Headquartered in Denver, Colorado, and founded in 2012,…

Finovate Alumni News

By David Penn Posted on November 15, 2016
Categories: ayondo, Cardlytics, IBM, InComm, P2BInvestor, Plaid, Proactive Budget, ProfitStars, Prosper, Ripple, Student Loan Genius, Temenos, TradeHero, Twilio

On Finovate.com P2Binvestor Scoops Up More Than $7 Million in New Funding. Ahead of Anticipated IPO, ayondo Acquires TradeHero. Around the web IBM introduces blockchain-based KYC project with Singapore's KYCK! Cardlytics adds Peter Gleason as president of international operations. Jordan Ahli Bank goes live with T24 core banking system from Temenos. Let's Talk Payments features Ripple and Plaid in roundup of "startups to support your startup." Ben Brandt of Retirement Starts Today Radio interviews ProActive Budget. ProfitStars announces RemitPlus Express, a remittance solution. InComm collaborates with CVV+ to reduce payment card fraud. Student Loan Genius powers student-loan benefits for employees of Pinterest, Twilio and Spredfast. Prosper names Chief Executive Officer David Kimball. 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.

Finovate Debuts: GoodData Helps Banks Put Their Data to Work

By Julie Muhn (@julieschicktanz) Posted on November 14, 2016
Categories: Finovate Debuts, GoodData

Every financial services organization produces data, but not all of them organize and "product-ize" the information because dealing with high data volumes is costly. GoodData seeks to help financial services companies monetize their data in a cost-efficient manner. Blaine Mathieu, chief marketing and products officer, explains: "For us and for our clients, data and analytics are our profit center. We do this by helping you take your data, wrap it in analytics, and product-ize it and then distribute those products securely and on a massive scale." Mathieu points out that "turning data into insight and finally into action is something we call a smart business application." At FinovateFall 2016 earlier this year, GoodData—used by companies across a range of industries—unveiled a product specifically for the financial services sector. The analytics delivered by GoodData help financial institutions personalize applications for clients' needs, improve customer loyalty, and potentially increase sales. Company facts:…

Nutmeg Spices Things Up with New $37 Million Investment

By Julie Muhn (@julieschicktanz) Posted on November 14, 2016
Categories: Funding, Nutmeg

U.K.-based robo-advisory pioneer Nutmeg scored $37 million (£30 million) in a Series C funding round this week. Convoy, Hong Kong’s largest firm of independent financial advisers, led the round, while existing investors Schroders, Balderton Capital, Pentech, Armada Investment Group, and Nigel Wray also participated. The new investment brings the company's total funding to $75 million and makes it the largest raise for an E.U.-based digital wealth advisor. Also, as Nutmeg said in its press release, "This is also the largest fintech fundraise since the U.K. voted to leave the European Union." Nutmeg will use the funds to offer more products and services and to accelerate growth. The company is currently managing $625 million (£500 million) for more than 20,000 clients. Since launching in 2011, Nutmeg has delivered returns between 6.5% and 47% for specific savings goals, ISAs, and pensions. Nutmeg's Nick Hungerford, former CEO, and Jono Hey, head of UX,…

Andreessen Horowitz Leads $25 Million Investment in Quantopian

By David Penn Posted on November 14, 2016
Categories: Funding, Fundings, Quantopian

With an investment of $25 million led by Andreessen Horowitz, quantitative investment crowdfunding platform Quantopian adds a successful Series C to a year that featured winning the endorsement of billionaire investor, Stephen Cohen. This summer, Cohen invested $250 million in a fund that uses algorithms generated by Quantopian members. Also participating in Quantopian's funding round were Bessemer Venture Partners, Point72 Ventures, Khosla Ventures, and Spark Capital—all existing investors. The Series C takes Quantopian's total capital to nearly $50 million. "Quantopian has a chance to really disrupt this industry by bringing a distributed-contributor approach to finance, harnessing technology to educate and empower the greatest minds around the world," says Alex Rampell, Andreessen Horowitz general partner. Rampell, who will join the company's board of directors, called Quantopian "the next-generation BlackRock" Quantopian co-founders, CEO John Fawcett and CTO Jean Breech demonstrated Quantopian Live Trading at FinovateSpring 2013. Founded in 2011 and headquartered in…

Finovate Alumni News

By David Penn Posted on November 14, 2016
Categories: AutoGravity, Corezoid, CoverHound, Entersekt, GoodData, Kabbage, Nutmeg, PwC, Quantopian, Ripple, Smart Token Chain, VISA, WealthForge

On Finovate.com "Andreessen Horowitz Leads $25 Million Investment in Quantopian" "Finovate Debuts: GoodData Helps Banks Put Their Data to Work" "Nutmeg Spices Things Up with New $37 Million Investment" Around the web FinDEVr alum Smart Token Chain completes first smart token transfer via Ripple network. From apps to APIs: Dwolla rebrands as platform. PwC unveils Vulcan Digital Asset Services, a suite of digital currency solutions including digital wallets and international payment processing. Entersekt to power mobile app security for FirstBank. CoverHound partners with Metromile to offer more coverage options for auto and property insurance. WealthForge exceeds $250M in transactions completed on platform. Kabbage hires chief technology officer and chief data officer. AutoGravity to power digital car sales and finance app for Fletcher Jones Motorcars. Visa Developer Challenge winner Corezoid earns recognition at Money 20/20 Hackathon. This post will be updated throughout the day as news and developments emerge. You can…

Fintech Favorites

By David Penn Posted on November 13, 2016
Categories: ACI Worldwide, Finn.ai, Fintech Favorites, IBM

Kara Tham and Goh Wei Hao of Top Image Systems during their demo at FinovateAsia 2016. Two of the companies in today's Fintech Favorites, IBM and ACI Worldwide, led presentations at our developers conference, FinDEVr, earlier this year. FinDEVr returns to New York City, 21/22 March 2017, and will make its London debut in June 2017. Fintech in Asia Thailand's KBank will deploy IBM's (FD16) Hyperledger blockchain infrastructure to make it easier to manage complex corporate credit business processes. The bank initially is piloting the technology as a way to certify Letters of Guarantee. "Leading by example," in the words of Lawrence Ang, MAS has published its first set of data APIs this week. The 12 APIs include datasets on exchange and interest rates; they are part of what Ang, executive director of MAS's IT dept., says is part of an effort to "encourage financial industry players to publish open…

Friday Favorites: Financial Institutions Honor Veterans

By Jim Bruene Posted on November 11, 2016
Categories: Bank of America, Credit Unions, Giving back, Holiday promotions, USAA, Zions Bank

If there's one thing Americans can agree on, it's honoring and celebrating the service of our veterans both past and present. Given the contentious election week in the United States, you'd think U.S. financial institutions would be rolling out the red, white and blue on their websites on Veterans Day today. But there was surprisingly little activity at the major banks. Most had the same old-same old on their homepages. Even Navy Federal Credit Union passed on adding anything extra for the day. The only top-50 banks with Veterans Day graphics were Bank of America, Zions and of course USAA, all displaying page-dominating graphics on their homepages (see below). We also looked at a few credit unions (at random) and found BMI Federal Credit Union and PenFed honoring vets (see below).

FinovateAsia 2016: A Tale Told in Tweets

By David Penn Posted on November 11, 2016
Categories: FinovateAsia 2016

We are thrilled so many people came out to attend FinovateAsia 2016, our first foray into Hong Kong. It was a great opportunity to see firsthand how one of Asia's most dynamic economies is embracing the worldwide revolution in fintech innovation. For those unable to attend FinovateAsia in person, our live coverage on Twitter (@Finovate) was a way for fintech fans to follow along. And as always, our live tweeting was supplemented by the insights and observations from our knowledgeable attendees. Here's a small sample of what they saw and had to say this week in Hong Kong via Twitter.