FinDEVr APIntelligence

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today.

Developer news

The latest from FinDEVr San Francisco 2015 presenters

  • Aerospike unveils version 3.7 of its NoSQL database.
  • Mitek to combine its Mobile Verify solution with fraud prevention and risk management technology from IdentityMind Global.
  • Wallaby’s Chrome 2.0 provides access to credit card advice in the browser.
  • Markit acquires systems integration technology from JP Morgan.

Alumni updates

  • VISA launches consumer transaction controls for card-issuing FIs.

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

Venmo Processes $1 Billion in January

Venmo Processes $1 Billion in January

VenmoHomepage

If there was ever a question if Venmo has achieved mainstream status, today’s news has the answer: The startup – owned by online payments processing company Braintree, which PayPal purchased for $800 million in 2013 – just exceeded $1 billion in payments processed in the month of January, the highest volume in a single month.

This is more than 2.5x the volume Venmo processed in January 2015 and more than 10x the amount processed in 2014.

Venmo’s short blog-post announcing the news doesn’t comment much on the achievement, other than to say, “We thought this was a pretty big milestone, so we wanted to share it with you.”

GametimeVenmoThe startup’s peer-to-peer payments service is popular among millennials. It enables users to link their debit card to the platform to transfer money for free; paying with a credit card carries a 2.9% fee. PayPal CEO Dan Schulman reports the average user sends money through the app several times weekly.

This week’s announcement comes on the heels of Venmo’s report that it plans to start monetizing its service by opening Braintree’s iOS v4 SDK and Android v2 SDK to U.S. merchants. Payments will be free for end users, and merchants will be charged 2.9% plus $0.30 for each transaction. Food delivery service Munchery and event ticket seller Gametime (pictured right) are piloting the program with a limited number of beta users.

Braintree debuted Venmo Touch at FinovateSpring 2013. More recently, at FinDEVr San Francisco 2015, PayPal’s Justin Woo discussed how developers can increase checkout conversion.

You can catch Braintree’s latest presentation to developers at FinDEVr New York 2016 next month. Register now to save your seat or send your developer.

Finovate Alumni News

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • Akamai’s New Bot Manager Offers Insight into Bot Activity.

Around the web

  • Morocco-based microfinancier, Albaraka implements core banking system and CRM from Infosys Finacle.
  • Aerospike unveils version 3.7 of its NoSQL database. Aerospike returns to FinDEVr on 29 & 30 March 2016 in New York City.
  • TransferTo forges partnership with Vodafone Group to bring real-time international money transfers to M-Pesa Mobile Money accounts.
  • LoanNow begins reporting loan repayment behavior data to TransUnion.
  • Taulia partners with supplier information management solutions company Lavante.

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.

Calling All Fintech Developers for FinDEVr New York this March!

Presentation - Laptop Feed 3 copy

After two successful events in San Francisco, FinDEVr is expanding to the East Coast next month. Like its predecessors, FinDEVr New York will focus on the technology side of fintech. Through an exciting dual-track, TED-style format, presenting companies showcase their latest APIs/platforms/SDKs, case studies, and tutorials to an audience of developers, software architects, CTOs, VPs of Engineering, and others involved in building financial and banking technology products.

The selection process for FinDEVr New York is the most competitive yet, and the list of innovators already on board is impressive. Will you join them?

  • Aerospike
  • Avoka
  • The Beast Apps
  • Braintree/PayPal
  • Craft Silicon
  • Digibyte
  • FairCom
  • Fidor Bank
  • Financial Apps
  • Finicity
  • Flybits
  • Forte
  • Google Cloud Platform
  • Honkio
  • Hyperwallet
  • i-exceed
  • Mambu
  • Markit
  • Mifos Initiative
  • Mobeam
  • Nostrum Group
  • Nubank
  • OnDeck
  • OutsideIQ
  • PokitDok
  • Praesidio
  • Prevoty
  • Quovo & Betterment
  • Sayula
  • ScientiaMobile
  • Solace Systems
  • Stratumn
  • Thinking Capital
  • TokBox
  • VIX Verify
  • Vogogo
  • Worldpay
  • Xignite
  • ZeroDB

Not sure the event is the right fit? Here are some tips. FinDEVr is the perfect event for you if you’re seeking to reach a technical audience in the fintech and financial services industry to drive adoption of your API/platform/SDK; get feedback on your innovation; garner press/analyst coverage; educate the market; find partners; recruit developers; raise funding; exchange information with fellow developers; or establish your technical leadership of the industry.

Our presenter lineup is almost set, but we do have a handful of slots remaining. If you’re interested in presenting at the event, now is the time to apply. The final application deadline for FinDEVr New York is this Friday, February 19. For details on applying to present, please email NewYork@FinDEVr.com.

If you’re interested in attending to see the latest innovations for fintech developers, space is limited and early-bird tickets are on sale only for a couple more weeks. Register as soon as possible to guarantee your seat.

Interested in following news from these companies, along with last year’s presenting companies? Follow FinDEVr on Twitter and keep an eye out for our weekly FinDEVr APIntelligence blog posted every Wednesday.


FinDEVr New York is sponsored by The Bancorp

FinDEVr New York 2016 is partnered with Acuity, Bank Innovators Council, BankersHub, The BayPay Forum, BiometricUpdate.comBitcoin Magazine, Bitcoinist.netbobsguide, Breaking BanksByte Academy, Celent, Cognito MediaColloquy, Empire StartupsMercator Advisory Group, Payment WeekPayments & Cards Network, and Women Who Code.

The Personal Finance Operating System

The Personal Finance Operating System

os_definition_2

ms-dos2Ever since Microsoft made its vast fortune off the back of MS-DOS, becoming the “operating system for ____” has been a software nirvana. And look what happens when you substitute financial terms for computer terms in the OS definition. It describes a position that fintech companies around the globe aspire to: “the software that controls/manages the flow of money.”

Financial Operating System
noun
1.  Software that manages personal finances, controlling and scheduling spending, managing deposits, transfers in/out, communications and security.
Abbreviation: FinOS

Intuit has captured this spot for small businesses (SMB) in the United States with Quickbooks. But even Intuit has given up trying to be the OS for consumers. Why? It’s too hard to gain trust while also providing enough value to wrest consumers away from their primary bank or credit union.

So guess what, all you bankers and CUsters? You are the de facto operating system for your customers’ finances. Embrace it, but don’t take your good fortune for granted or you may find yourself irrelevant to the next generation of consumers. Like successful tech companies, you need to keep upgrading the system. Here are a few core features missing at most financial institutions:

  1. Complete fraud protection
    >> 100% guarantee against losses
  2. Advocacy
    >> Make it an open network, even if a product recommendation sometimes leads outside your FI
  3. Credit for all
    >> If you can’t make the loan yourself, deliver customers to someone who can
  4. Rational fees
    >> Fees are fine, large PENALTY fees should be avoided
  5. Family connections
    >> Real-time funds-transfer, spending tracking, and so on
  6. Risk management
    >> Insurance for anything I’m worried about
  7. Business intelligence
    >> Help me grow/start/manage my business even if it’s just a hobby

——–

Notes:
(1) See also Part 1: The technical side of the bank as an operating system.
(2) OS definition at top from Dictionary.com
(
3) MS-DOS picture courtesy of Computer History Museum

FinovateEurope 2016 in the Press

FinovateEurope 2016 in the Press

FEUNetworking

We’re surfing a wave of momentum from FinovateEurope last week. The sold-out show, dubbed by Business Insider as the “debutante ball for innovative financial technology startups,” featured new fintech from 70 companies. The ideas that flowing from onstage offered analysts, bloggers, and press plenty to write about.

If you missed it, you can check out our live coverage on Twitter.

Here is what the press is saying:

Aite
FinovateEurope 2016: A Change of Approach
By Virginie O’Shea

Aixigo
7 Minutes of Fame or How it Feels to be at FinovateEurope
By Mario Alves

Arctic Startup
Norwegian Startup Unveils First Savings Service For Women
by Tarmo Virki

BankInnovation
Breaking Banks: Finovate and London FinTech [AUDIO]

BankNXT

Benzinga
This Benzinga Fintech Award Nominee Just Won ‘Best In Show’ At Europe’s Largest Fintech Conference

bobsguide

Business Insider

Business.com
Top FinTech Trends, Fresh From Finovate Europe 2016

Byte Academy

Chris Skinner’s Blog
Reflections on Finovate Europe 2016
By Chris Skinner

Crowdfund Insider

Der Brutkasten
Change FinTech Startups Rules in the Fight Against Fraudsters
By Fabian Graber

Directors Talk Interviews
Q&A with Jeremy Nicholds, the new Non-executive Director at Vipera Plc
By Amilia Stone

Ewise blog
FinovateEurope: the place to be if you’re a fintech enthusiast
By Dean Young

Financial Observer
Opinion – Global players seek out fintech partners
By Mark Fordree

Financial Planning
More Risk than Reward for Early Tech Adopters
By Miriam Rozen

Finance Magnates
Finovate Europe: Fintech’s ‘Give-and-Take’ With Institutions Shifting
By Anna Reitman

Finextra

FindBiometrics

Fintech Finance
FinovateEurope video series

The Fintech Times
Finovate
By Bird Lovegod

Forrester’s Benjamin Ensor’s Blog
Finovate 2016: Automation and Personalization Take Centre Stage
by Benjamin Ensor

Forrester’s Oliwia Berdak’s Blog
The Gods of Fintech Are Harsh And Fickle
By Oliwia Berdak

FStech
Finovate Europe 2016 winners announced

Het Financieele Dagblad
Nederlandse start-ups presenteren zich in Londen aan financiële sector
By Rutger Betlem

HTEKONOMI
Finovate Londra’ya FinTech katıldı

IBSintelligence
Finovate 2016 round-up: biometrics, blockchain and deep web risk assessment
By Alex Hamilton

IT Finanzmagazin
Innovative financial and banking technology: Finovate Europe 2016 in London – FinTech for banks
Sven Korschinowski

Inn Poland
Polskie firmy w awangardzie technologii finansowych
By Barbara Żbik

Jewish Business News
Capitali.Se Wins Finovate Europe ‘Best In Show’
By Viva Sarah Press

L’Atelier
#Finovate : la carte du futur sera un ordinateur à part entière
By Aurore Geraud

Medium
FinovateEurope & Social Data
By Noel Peatfield

Mondato
Fitnech: London’s New Big Bang?

MoneyMorning
I Might Have Found the Next ‘Xero’ at Europe’s Best FinTech Conference
By Sam Volkering

Nasdaq
More Risk than Reward for Early Tech Adopters

Nic Sheen’s Blog
Finovate Day 1

NoCamels News Flash
Fintech Startup Capitalise Wins Finovate Europe Competition

Nostrum Group blog
Nostrum Reports on Finovate Europe Day 1

The Official English Blog of the Krakow Start-Up Scene (K’Sup)
VoicePin Wants You to Throw Away your Passwords
By Paul Chen

Octo Talks
FinTech – Finovate 2016 Londres – notre résumé
By Sylvain Fagnent

PaymentEye
What will be the hottest trends of 2016?
By Ben Rabinovich

Polskie Radio

ShiftDelete.net
FinTech İstanbul, Finovate Londra’da

Silicon Republic
Israeli fintech AI start-up wins Finovate Europe ‘Best in Show’
By Colm Gorey

TeknoYo!
FinTech İstanbul uluslararası ilk adımını Londra’da attı

Time Turk
Finovate Avrupa 2016 Konferansi

Tech in Asia
A fintech VC on the best startups at a less-than-stellar Finovate London
By Vladislav Solodkiy

Verdict Financial

VoicePIN blog
Finovate Europe 2016

Webrazzi
FinovateEurope 2016, Avrupa’nın finansal teknoloji girişimlerini ağırladı
By Firat Demirel

World Finance
Finovate 2016


We’ll update the list as more press comes in. If you’ve published a piece you’d like us to include, please email the link to research@finovate.com.

Thanks to everyone for attending, presenting, and covering the conference on Twitter and in the press. We’re already looking forward to next year’s event!

BluePay Acquires Billhighway

BluePay Acquires Billhighway

Billhighway_homepage_Feb2016

Billhighway, developer of cloud-based financial management solutions for non-profit and member-based organizations, has been acquired by card processor and gateway provider, BluePay.

John Rante, BluePay CEO, highlighted Billhighway’s “innovative technology, a strong annual growth rate, and incredible customer satisfaction.” Rante said Billhighway’s nonprofit vertical was a “great fit” for BluePay and sees the acquisition as an opportunity to grow BluePay’s integrated merchant base.

Billhighway Chairman and Founder Vince Thomas added that the merger will help “improve the level of products and services” the company provides its member-based association and not-for-profit clients.

Terms of the acquisition were not disclosed.

The announcement comes less than a month after Billhighway was again recognized as one of the “Best and Brightest” companies to work for. Billhighway offers a range of products, from its enterprise-grade financial management platform to its prepaid card (which won the “Head of the Class” PayBefore Award in 2014), to the mobile-fundraising solution the company demoed at FinovateFall 2012.

Last fall, Billhighway earned a spot on Deloittes 2015 Technology Fast 500 for North America for the third year in a row. That summer, the company adopted the SnapApp platform to enable development and publishing of interactive content. In March, Billhighway picked up a Silver Stevie Award for Innovation in Customer Service in the Financial Services Industry category, its second win at the Stevies since 2013.

Founded in 1999, Billhighway is headquartered in Troy, Michigan.

Fiserv Announces New CFO, Robert Hau

Fiserv Announces New CFO, Robert Hau

Fiserv_homepage_Feb2016

Three things for fintech fans to look forward to in March:

  1. The beginning of March Madness NCAA college basketball tournament
  2. The launch of FinDEVr New York 2016
  3. The end of a first quarter flurry of announcements

Fiserv_RobertHauAnd one big first-quarter announcement is a new appointment at Fiserv. The company has named Robert Hau as its new Chief Financial Officer. Hau, formerly a TE Connectivity executive, will take the helm on March 14. Hau replaces Tom Hirsch who is retiring after a 21-year career with the company.

Fiserv CEO and president Jeffery Yabuki credited Hau’s experience as a public company CFO at TE Connectivity, and his “strong operational approach to finance.” Before TE Connectivity, Hau was EVP and CFO for Lennox International and, previously had served in a variety of capacities at Honeywell International, including CFO of the company’s Aerospace Business Group.

Hau has a master’s degree in business administration from the USC Marshall School of Business, and a bachelor’s degree from Marquette University.

Recent headlines for Fiserv include the company’s purchase of ACI Worldwide’s Community Financial Services division for $200 million in January, and deployments of the company’s DNA core account processing technology at United Nations Federal Credit Union ($4.3 billion in assets) and Gate City Bank ($1.9 billion in assets). In its most recent Finovate appearance at FinovateFall 2015, Fiserv demoed its technology that enables cash ATM withdrawals by smartphone.

Finovate Alumni News

On Finovate.com

Around the web

  • AdviceRobo nominated to European Fintech 100 rankings.
  • KeyBank selects NICE Actimize for Enterprise Fraud Solutions.
  • ACI Worldwide announces joining real-time payment initiative launched by The Clearing House.
  • Temenos reports 23% profit gain in FY 2015; says developed markets driving growth.
  • Wipro buys U.S.-based HealthPlan Services for $460 million.
  • ProgrammableWeb features Planwise in its Daily API RoundUP.
  • Prosper raises rates on loans.
  • SafetyPay reports 2015 growth: opened offices in Chile and Ecuador, now operates in 19 countries.
  • Lending Club now offers TurboTax integration for Form 1099s.

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.

Fintech Fundings: 21 Companies Raise $260 Million Week Ending 12 Feb

Fintech Fundings: 21 Companies Raise $260 Million Week Ending 12 Feb

pig_sunglasses_money_croppedDespite turmoil in global equity markets, the fintech sector continued its 3-year bull market with 21 companies raising $259.1 million, for a $12 billion annual run rate. The total included at $46 million in debt. And demonstrating the global nature of financial services, only three deals were out of California (Xignite, Renew Financial, and Vast).

Three Finovate alums raised new cash:

Six weeks into the new year, fintech companies have raised $4.5 billion in equity and debt worldwide, 2.5 times the $1.9 billion in the same period last year. And the number of deals is up 70% (146 compared to 86 in 2015).

Here are the fintech deals by size from 6 Feb to 12 Feb 2016:

Renew Financial
Financing for renewable energy and conservation projects
Latest round: $70 million Series D
Total raised: $102.2 million
HQ: Oakland, California
Tags: Consumer, SMB, loans, credit, lending, underwriting, personal finance management, energy consumption management
Source: Crunchbase

Maestro Health
Employee benefits and health insurance services
Latest round: $53 million
Total raised: $53 million
HQ: Chicago, Illinois
Tags: Employers, benefits, HR, payments, healthcare, insurance, health savings accounts
Source: Crunchbase

WorldRemit
Worldwide remittances
Latest round: $45 million Debt
Total raised: $147.7 million (includes $45 million debt)
HQ: London, England, U.K.
Tags: Consumer, SMB, payments, remittances, P2P transfers, person-to-person
Source: Crunchbase

Riskified
Underwrites and guarantees high-risk credit card transactions
Latest round: $25 million Series B
Total raised: $30.7 million
HQ: Tel Aviv, Israel
Tags: SMB, merchants, underwriting, credit/debit cards, acquiring, fraud, security, risk management
Source: Crunchbase

Xignite
APIs powering financial services
Latest round: $20.5 million Series C
Total raised: $36.2 million
HQ: San Mateo, California
Tags: Enterprise, SMB, API, developers, integration, back-end, investing, wealth management, Finovate alum
Source: Finovate

Payleven
Mobile point of sale
Latest round: $10 million Series D
Total raised: $25.2 million
HQ: Berlin, Germany
Tags: SMB, payments, mPOS, acquiring, merchants, credit/debit cards
Source: Crunchbase

SwervePay
Healthcare and automobile payment solutions
Latest round: $10 million Series B
Total raised: $11.6 million
HQ: Chicago, Illinois
Tags: Consumer, SMB, payments, mobile, insurance, healthcare, automobile dealers, merchants
Source: Crunchbase

RKSV
Online stock brokerage
Latest round: $4 million Series A
Total raised: $4 million
HQ: Mumbai, India
Tags: Consumer, investing, trading, stocks, equity
Source: Crunchbase

Qapital
Digital banking app
Latest round: $3.5 million
Total raised: $5.3 million
HQ: New York City; Stockholm, Sweden
Tags: Consumer, systematic savings, deposit, PFM, personal finance management, Finovate alum
Source: Crunchbase

Stash
Digital investment advisor
Latest round: $3 million Seed
Total raised: $4.5 million
HQ: New York City, New York
Tags: Consumer, investing, trading, mobile
Source: Crunchbase

Qvinci
Accounting add-on for financial reporting
Latest round: $2.4 million
Total raised: $5.8 million
HQ: Austin, Texas
Tags: SMB,Quickbooks, accounting, financial management
Source: Crunchbase

Shopbox
Point-of-sale technology for food businesses
Latest round: $2.2 million
Total raised: $2.2 million
HQ: Copenhagen, Denmark
Tags: SMB, POS, payments, credit/debit cards, restaurant merchants, acquiring
Source: Crunchbase

Trussle
Online mortgage advisor
Latest round: $1.6 million
Total raised: $1.6 million
HQ: London, England, United Kingdom
Tags: Consumer, mortgage, refi, lead gen, price comparison
Source: FT Partners

Agreement Express
Automates client onboarding in financial services
Latest round: $1 million Debt
Total raised: $1 million Debt
HQ: Vancouver, British Columbia, Canada
Tags: B2B, consumer, compliance, sales, onboarding, UX, Silicon Valley Bank (lender)
Source: Crunchbase

Vast
Home and auto purchase decision-making tools
Latest round: $1 million
Total raised: $1 million
HQ: San Francisco, California
Tags: Consumer, B2B, lending, mortgages, auto loans, home purchasing, real estate, automobile buying
Source: Crunchbase

Homie
P2P marketplace for home selling
Latest round: $700,000
Total raised: $700,000
HQ: Salt Lake, Utah
Tags: Consumer, mortgage, home purchase, real estate, peer-to-peer
Source: FT Partners

OFF3R
Crowd-funding aggregator
Latest round: $690,000 Seed
Total raised: $690,000
HQ: London, England, United Kingdom
Tags: Consumer, SMB, investing, peer-to-peer, equity, loans, lending
Source: Crunchbase

SurBTC
Chilean bitcoin exchange
Latest round: $300,000 Seed
Total raised: $300,000
HQ: Santiago, Chile
Tags: Consumer, payments, cryptocurrency, bitcoin, blockchain, virtual currency
Source: FT Partners

Capzest
Digital lender
Latest round: $200,000
Total raised: $200,000
HQ: Mumbai, India
Tags: Consumer, SMB, loans, credit, lending, underwriting
Source: FT Partners

SwipeStox (Naga Group AG)
Social investing application
Latest round: Not disclosed
Total raised: Unknown
HQ: Hamburg, Germany
Tags: Consumer, investing, mobile, trading, social, Hauck & Aufhäuser (investor), Finovate alum
Source: FT Partners

Turtlemint
Insurance price-comparison site
Latest round: Not disclosed
Total raised: Unknown
HQ: Mumbai, India
Tags: Consumer, insurance, lead gen, discovery, price comparison, automobile, health, motorcycle
Source: Crunchbase

FinovateEurope 2016: Tweets By the Thames

FinovateEurope 2016: Tweets By the Thames

Twitterlogo_lightblueFollowing our conferences via Twitter is a great way for both those attending the show live as well as those following the action remotely to share their insights and opinions.

And browsing through the online conversation afterwards provides a wonderful reminder of what shocked and awed our audiences the most at this year’s event.

So, courtesy of Twitter and #Finovate, here is a small sample of FinovateEurope 2016’s more memorable observations and fintech-savvy tweets:

BoS_Tweet_Start

BoS_Tweet_IDscan

BoS_Tweet_Drivewealth

BoS_Tweet_JPNinvestingdisruptionBoS_Tweets_Swipestox

BoS_Tweet_fashion

BoS_Tweet_multicurrency

BoS_Tweets_JPN_makethecase

BoS_Tweet_noloyaltylending

BoS_Tweet_Crowd1

BoS_Tweet_Skinner_Fitbit

BoS_Tweets_Capitalise

BoS_Tweet_Eyeveryfiy

BoS_Tweet_Valuto

BoS_Tweet_Exciting

BoS_Tweet_Duena

i-exceed Teams Up with Mindtree to Bring Mobile Tech to BFSI Sector

i-exceed Teams Up with Mindtree to Bring Mobile Tech to BFSI Sector

i-exceed_homepage_Feb2016

Via a new partnership with Mindtree, Bangalore-based i-exceed technology solutions looks to bring mobility solutions to the BFSI (banking, financial services, insurance) sector.

Quoted in ETCIO.com, i-exceed’s Managing Director Joseph John said the agreement showed the increased traction Appzillon was gaining in the marketplace. “With our long-standing experience in the banking sector, coupled with Appzillon’s technical prowess, Mindtree can enhance their mobility edge in record time,” John said.

iexceed_stage_FA2013

From left: i-exceed’s Kapil Gupta, technology solutions director, and Sudhir Babu, VP of technology, demonstrated Appzillon at FinovateAsia 2013 in Singapore.

A mobile app-development platform, Appzillon has reduced app develop-and-deploy times by as much as 60%. The technology helps developers manage the security and integration challenges of building for enterprise back-end systems, including the ability to deploy predesigned B2B, B2C, and B2E banking apps. The latter is a particular point of emphasis for i-exceed, whose aim is to bring to market faster, via the new partnership, “strategic, prebuilt solutions for the banking industry.”

i-exceed released version 3.1 of its mobile app development platform last summer. Its features include enhanced security via a new user interface along with new style editors and additional default themes. In September, i-exceed announced deployment of its Appzillon Origination System (AOS) at one of the oldest public sector banks in India. This followed the company’s new partnership with Kris FinSoftware to help promote the greater mobility in the Philippines.

Founded in 2011 and headquartered in Bangalore, India, i-exceed demonstrated Appzillon at FinovateAsia 2013.


Join i-exceed as it makes its FinDEVr debut next month in New York City. Our developers conference is 29/30 March and tickets are available now. Visit our FinDEVr New York 2016 page for more information.