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Finovate Alumni News

By David Penn Posted on October 6, 2016
Categories: Alkami Technology, Bambu, Cloud Lending Solutions, Cognitect, Digital Business Art, Entrust Datacard, FinanceIt, Hyperwallet, Misys, MX, NetGuardians, Nexmo, NuData Security, Revolut, Thomson Reuters, Yandex

On Finovate.com

Financeit’s Fresh $17 Million to Fund TD Financing Acquisition Check out today's FinDEVr Previews Cognitect Digital Business Art NuData Security Entrust Datacard MX Be sure to take a look at our latest round of FinovateAsia Sneak Peeks. NetGuardians Nexmo Bambu A Deep Dive into the Upcoming FinDEVr Silicon Valley 2016

Around the web

Idaho Central CU to deploy Alkami ORB platform. Thomson Reuters unveils blockchain dev platform, BlockOne ID. Banking Technology looks at Misys and its plans for a November IPO. Revolut partners with Bank of Lithuania to promote cross-border payments. Hyperwallet introduces its Tax Compliance Services initiative. Cloud Lending Solutions appoints new chief revenue officer and chief financial officer. Yandex.Money to offer mobile money-transfers and support-group chats for crowdfunding via Apple's iMessage.

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 Alums Earn Spots in FinTech Forward 20 “Companies to Watch”

By David Penn Posted on October 5, 2016
Categories: Alkami Technology, BehavioSec, CUneXus Solutions, Currency Cloud, identitii, inSpirAVE, Malauzai Software, Moven, North Side, Personetics

Half of the companies in the FinTech Forward 20 "Companies to Watch" list presented by American Banker and BAI this week are Finovate/FinDEVr alums. These 10 companies range from payments innovators and security specialists to alt-lending platforms and mobile banking app builders—the list even includes a pair of alums that have earned multiple Best of Show awards.

"The following 20 companies are the standouts among a pool of companies that nominated themselves and ones familiar to our judges," American Banker declared in an announcement accompanying a slideshow of the FinTech Forward 20. When evaluating the various companies, judges were encouraged to ask themselves questions such as: "Is this organization solving relevant problems for the banking industry?" and "Does it speak to the challenges the industry faces now."

Below are the ten Finovate/FinDEVr alums that made the cut. The rest of the FinTechForward 20 is listed below.

Currency cloud (FF16…

Akamai Acquires Soha Systems

By Julie Muhn (@julieschicktanz) Posted on October 5, 2016
Categories: Akamai, Mergers & Acquisitions

With security emerging as one of the largest themes of our upcoming FinDEVr developers conference, it's no surprise to see movement in that segment of the industry. Yesterday, cloud services provider Akamai acquired security company Soha Systems.

While the terms of the deal were not disclosed, Akamai describes the purchase price as "immaterial" for the company. California-based Soha, which offers secure access-as-a-service for enterprises, has raised almost $10 million since it was founded in 2013. Under the acquisition, Akamai will use Soha's services to extend its portfolio of Cloud Networking Solutions and to "simplify and improve remote and mobile access to enterprise resources, while at the same time minimize the exposed attack surface." In a press release, Robert Blumofe, EVP, Platform, and GM, Enterprise and Carrier Division, said, “By adding Soha’s secure access technology to our cloud networking solutions, we believe we are well positioned to help our customers…

Payoneer Closes $180 Million Series E Round

By Julie Muhn (@julieschicktanz) Posted on October 5, 2016
Categories: Funding, Payoneer

Global mass payout services provider Payoneer announced a $180 million round of funding today. The Series E round is from Technology Crossover Ventures, the same firm that has backed Facebook, Netflix, and Spotify.

This new round doubles the New York-based company's previous funding amount, bringing its new total to $270 million. Payoneer CEO Scott Galit said the company will use the funds for further expansion, as Payoneer receives 250,000 business applications per month. While Galit would not comment on Payoneer's valuation, Business Insider estimates that it is "likely in the billions."

Payoneer has 800 employees across the globe; it recently opened offices in India, Japan, and the Philippines. According to TechCrunch, today's round is the company's last before it will begin seeking an IPO.

At FinovateAsia 2013, Payoneer launched a commercial account that offers businesses the ability to receive funds from a global network. Payoneer’s money-transfer solutions process…

Alerts: Discover Card Highlights Merchant Refunds

By Jim Bruene Posted on October 5, 2016
Categories: Alerts & Messaging, Credit/Debit Cards, Discover, UX

So much of day-to-day banking is either negative or at best, incredibly boring. I spent too much, my payment is late, I can't remember where that last $40 from the ATM went, and so on. No wonder consumers are less than enthusiastic with their banking relationships.

What to do about it? For one, when you have good news, CELEBRATE! And one of the easiest ways to do that is when a merchant refund appears on a credit or debit card account. For example, Discover does a great job with its email. It's personalized, and clearly shows the date, credited amount and merchant name (including hyperlink to Netflix). And there is a huge button at the bottom to check out the transaction online (not that you'd really need to).

But after clicking through the email, the user experience (UX) gets a bit gummed up. The first webpage displayed is the…

FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on October 5, 2016
Categories: ACI Worldwide, Bluefin Payment Systems, Braintree, Fidor Bank, FinDEVr APIntelligence, Hyperwallet, IBM, PayNearMe, PayPal, PwC, Temenos, Totum Wealth, UCX, Wisdom Design Associates, Xero

Our FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today to save your spot!

On FinDEVr.com

FinDEVr Silicon Valley: Looking Back, Moving Forward Check out our latest FinDEVr Previews featuring: Wisdom Design Associates IBM PwC Totum Wealth ACI Worldwide UCX

The latest from FinDEVr New York and upcoming Silicon Valley presenters

Fidor Bank teams up with Abu Dhabi Islamic Bank to launch first community based digital bank in the region. PayPal promotes Braintree’s William Ready to chief operating officer. PYMNTS.com talks with Hyperwallet VP Tomas Likar about the challenge of payments in the on-demand workforce. IBM announces $200 million investment in its Watson IoT business in Munich. See IBM at FinDEVr Silicon Valley, October 18 & 19.

Alumni updates

Bank of Ireland to deploy UniversalSuite core banking solution from Temenos. Xero Announces Improved Integration…

Finovate Alumni News

By David Penn Posted on October 5, 2016
Categories: Akamai, Dwolla, IBM, Jumio, Payoneer, PaySimple, Thomson Reuters, Top Image Systems

On Finovate.com

Check out this week's FinDEVr APIntelligence. Akamai Acquires Soha Systems Payoneer Closes $180 Million Series E Round Finovate Alums Earn Spots in FinTech Forward 20 "Companies to Watch"

Around the web

IBM announces $200 million investment in its Watson IoT business in Munich. See IBM at FinDEVr Silicon Valley, October 18 & 19. Novum Bank chooses Netverify from Jumio to speed client onboarding. Be sure to check out our recent interview with Jumio CEO Stephen Stuut. Thomson Reuters launches ONESOURCE InDirect Tax Development Partner Program. Top Image Systems wins $450,000 deal with U.S. government to deploy eFLOW. BankNXT interviews Dwolla's Jordan Lampe about real-time ACH. PaySimple introduces an online store built specifically for service providers.

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.

Start FinDEVr Week with a Stop at Fintech University

By David Penn Posted on October 4, 2016
Categories: BBVA

There are plenty of reasons why you should make the trip to Silicon Valley for our upcoming FinDEVr developer's conference in two weeks (tickets are still available!). Now, courtesy of BBVA, there's a reason to come a day or two early.

Sponsored by BBVA, Fintech University is opening its doors on October 17th, just a day before FinDEVr Silicon Valley begins. Fintech University is an interactive event with keynotes and workshops led by top fintech entrepreneurs. The goal is to provide startups with the insights, advice, and networking opportunities that will help them grow and thrive. Admission on Monday the 17th is free, although registration is required due to limited seating.

In addition to BBVA executives Shamir Karkal and Héctor Arias, Finovate/FinDEVr alums are also well represented, including CEOs, founders, and presidents such as:

Farhan Ahmad, CEO/founder, Bento for Business (F15) Johnny Ayers, co-founder, Socure …

Email Marketing: Third-Party Offers with Deal-Killer Fine Print

By Jim Bruene Posted on October 4, 2016
Categories: Capital One, Credit/Debit Cards, Email Marketing, Email Samples

I've complained about similar offers before, but since this arrived in my inbox this morning, I figured it's time to revisit the issue.

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Today's lesson is about third-party offers, where an outside company pays to get in front of your customer base. They are relatively rare in financial services these days because banks and card issuers are wary of being tarred and feathered in social media (or the CFPB) if something goes wrong or the particular marketing permissions were later shown to be lacking.

The offer in question is from Uber. It's good for $5 off your first 5 rides and requires a Capital One card for payment. That's a win-win. Uber gets a new customer and Capital One gets its card loaded into the Uber app for years to come.

The problem: It's only for new Uber customers. I presume Capital One removes cardholders from the…

FinDEVr Preview: IBM

By David Penn Posted on October 4, 2016
Categories: FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview, IBM

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. Visit our registration page and save your spot today.

Blockchain has fast become the new marketing buzzword for solving all financial and security woes, but what is it really? Demystify the blocks as IBM delves into the hyperledger project, what it means for the industry, and why blockchain is ideal for more than just securities—all while live-deploying chain code using IBM's blockchain-as-a-service.

Why it's a must-see

Blockchain is the next stage in consensus-driven transactions and for most people the concept is about as clear as Seattle weather. This presentation quickly and visually guides attendees through the basic concepts of hyperledger and, for developers, how to quickly deploy blockchain in a cloud environment.

Check out more of today's FinDEVr Previews:

Wisdom Design Associates PwC

FinDEVr Preview: PwC

By David Penn Posted on October 4, 2016
Categories: FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview, PwC

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. So visit our registration page and save your spot today.

Improving the business process of trade finance operations to digitize the movement of services, goods, and capital could represent a paradigm shift to market participants. Using Standby Letter of Credit as an example, PwC will present the potential of blockchain to positively transform the business process where current challenges exist.

Why it's a must-see

The SBLC use-case provides the framework to scale toward more complex Trade Finance use-cases and instruments. The ability to address challenges in current manual processes allows for increased operational efficiencies, improved analytics, more reliable information and data, and enhanced balance-sheet management.

Check out more of today's FinDEVr Previews:

Wisdom Design Associates IBM

FinDEVr Preview: Wisdom Design Associates

By David Penn Posted on October 4, 2016
Categories: FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview, Wisdom Design Associates

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Be sure to stop by our registration page today, pick up your ticket, and save your spot.

Wisdom Design Associates will demonstrate the Wisdom Authorization Solution, a comprehensive technology for dynamic control of business authority. Wisdom goes beyond access control to address regulatory compliance, multiparty risk, long-running and multilegged transactions, and contextual obligations. Wisdom manages accountability for risky actions and assures auditability of all grants of authority.

Why it's a must-see

See how Wisdom's intuitive tools give business users fine-grained control of their staff's authority in your applications, without need for an entitlement team. Watch Wisdom's middleware technology manage interactions with the decision function, relieving the application and its developers of the need to deal with ever-changing policy requirements.

Check out more of today's FinDEVr previews:

IBM PwC