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FinDEVr Preview: Kyckr

FinDEVr Preview highlights 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.

Corporate identity, and proof of same, is critical in today's world. Kyckr shows how its traditional APIs, which provide global access to company house information—combined with blockchain technologies—can work together symbiotically to provide immutable proof of a company's information at the time of any given transaction.

Why it's a must-see

Several in-house APIs will be outlined through a custom interface in order to practically demonstrate: a) retrieval of live company-identity information; b) creation of a proof of that identity; and c) deployment of that proof to various blockchains through an API, which provides an abstraction layer over multiple technologies.

Check out more of today's FinDEVr previews:

Smartwave Alloy

FinDEVr Preview: Alloy

By David Penn Posted on September 27, 2016
Categories: Alloy, FinDEVr 2016 Silicon Valley, FinDEVr 2016 Silicon Valley Preview

FinDEVr Preview will 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.

Alloy will be presenting a new way to create and optimize customer onboarding applications. The company will graphically create an API to verify customer information for KYC/AML purposes and then optimize it to increase conversion rates for "good" customers.

Why it's a must-see

Until now, KYC services have been a black box. If your business is turning away good customers because identity services are denying them, there is no recourse. Alloy gives you full visibility and write-access to the decision-logic and allows you to test, optimize, and instantly modify existing onboarding logic in production.

Check out more of today's FinDEVr previews:

Smartwave Kyckr

Finovate Alumni News

By David Penn Posted on September 27, 2016
Categories: ACI Worldwide, Alloy, FinanceIt, Fiserv, FTPartners, Klarna, Kyckr, Linkable Networks, MX, NCR Corporation, On Deck Capital, RightCapital, Sezzle, Smartwave, Temenos, Zopa

On Finovate.com

Klarna Goes Live with SAP’s Smart AFI Financeit Recruits CFO from Capital One Canada Check out our latest FinDEVr Previews featuring: Kyckr Alloy Smartwave Wave Mechanics: FT Partners Report Highlights Trends Driving Rise of Insurtech

Around the web

Fiserv inks deal with FCTI to provide transaction processing for 8,000 ATMs in 7-Eleven convenience stores in U.S. Video of Fiserv's recent live demo from FinovateFall is now available. NCR launches cloud-based developer portal. ACI Worldwide and Vocalink partner to provide real-time payments solution. Let's Talk Payments interviews Tom Burgess, Linkable Networks founder and CEO. Visions FCU signs with MX for money-management app. Zopa releases its first-ever rating of a batch of securitized Zopa loans. Sezzle Wins $10,000 from Securian in Minnesota Cup Startup Competition. Aurionpro joins Temenos MarketPlace. OnDeck launches marketing campaign featuring Shark Tank judge Barbara Corcoran. RightCapital launches Leads, a tool to help financial advisers…

SocietyOne Strikes Up Partnership with Beyond Bank, Reeling in $1.5 Million

By Julie Muhn (@julieschicktanz) Posted on September 26, 2016
Categories: Funding, SocietyOne

Australia-based P2P lender SocietyOne announced a new bank partner today. The company has teamed up with Beyond Bank Australia, a $4.8 billion customer-owned financial institution.

Beyond Bank Australia has contributed $1.5 million for an equity stake in SocietyOne and has increased its funding commitment in personal loans on the site to $10 million. The bank anticipates the investment will expand its footing in the fintech sector; CEO Wayne Matters describes the partnership as a "perfect example of our approach to innovation, customer service and new product opportunities."

This isn't the first time SocietyOne has received funding from a bank. In 2014, the company received $5 million from Reinventure, a VC management company funded by Westpac Bank. Westpac was believed to be the first bank to take an equity stake in a P2P lending organization.

SocietyOne's online platform uses risk-based pricing to connect borrowers and investors to loans using…

CrowdFlower Brings AI to Business Processes via Partnership with Microsoft

By David Penn Posted on September 26, 2016
Categories: CrowdFlower

Best of Show winner CrowdFlower is leveraging Microsoft's Cortana Intelligence Suite to bring new AI functionality to its human-in-the-loop platform for data scientists. With CrowdFlower AI, the company will apply artificial intelligence to a range of business processes including support ticket classification and sentiment analysis, accessing Microsoft's technology via its Azure Machine Learning cloud service.

"With the Azure Machine Learning offering, the CrowdFlower platform now allows data-science teams to train and deploy machine-learning models with humans-in-the-loop," says CrowdFlower CEO Robin Bordoli. "This is an exciting step toward making AI a business reality rather than a science project." Writing at the CrowdFlower blog, Bordoli described CrowdFlower AI as the product of a "shared vision" between his team and the team from Microsoft Azure Machine Learning to bring machine learning to the enterprise that is a year in the making.

Bordoli, who took over the helm as CEO in February…

Finovate Alumni News

By David Penn Posted on September 26, 2016
Categories: Azimo, CrowdFlower, eWise, Featurespace, inSpirAVE, Larky, Payoneer, PayPal, Ripple, SocietyOne, Swych

On Finovate.com

CrowdFlower Brings AI to Business Processes via Partnership with Microsoft Fintech Trending: Bots Break Out, AI Gets Personal, and Blockchain Buys the Farm SocietyOne Strikes Up Partnership with Beyond Bank, Reeling in $1.5 Million

Around the web

Payoneer to facilitate cross-border payments for e-commerce marketplace, Rakuten, in new partnership. eWise unveils its new financial transaction Categorization-as-a-Service (CaaS) API for FIs. Let's Talk Payments interviews Swych CEO Deepak Jain. See video of Swych's Best of Show winning performance at FinovateFall. Bank of America, Santander, and the Royal Bank of Canada to form global blockchain payments network with distributed ledger technology from Ripple. Azimo's Facebook Messenger bot is now live. Project Juno highlights Featurespace in its European Machine Intelligence Landscape. Larky partners with Credit Union Association of the Dakotas (CUAD). Finextra: PayPal and Lenovo team on biometric authentication for laptops. EFMA.com interviews InSpirAVE founder, Om Kundu. See the…

Fintech Trending: Bots Break Out, AI Gets Personal, and Blockchain Buys the Farm

By David Penn Posted on September 25, 2016
Categories: AutoGravity, Backbase, BanQu, Clinc, Fiserv, Full Profile, Kore, MX, Personetics, Trusona

Is it fair to judge a fintech conference based on the way it reflects, anticipates, and even uncovers what's most important in the field? We think so, and were once again impressed by the way FinovateFall this month helped spread the story of fintech in the second half of 2016.

After all, we read about new technologies every day. But once the wow factor subsides, the question remains: Does it really work? Is anybody, any bank, any business in the real world actually putting this great looking, great sounding technology—these bots, this blockchain—to the test?

The good news is that the good news is true: new technologies like chatbots not only work, but were demonstrated live on stage by companies like Personetics (F16); Fiserv (F16); Kore (F16); and FinovateFall 2o16 Best of Show winner, Backbase (F16). We can even include companies…

Friday Fun: Coffee and Banking (Redux)

By Jim Bruene Posted on September 23, 2016
Categories: Rewards Programs, Starbucks

Given how many times "coffee" has appeared in my blog titles, you might think I'm obsessed (or addicted). You might be right. Nevertheless, I love the combination of these two important parts of my life, so I'm going to keep on posting. But unlike my last coffee post dealing with the branch experience, today's subject returns back to my comfort zone, the digital world.

Starbucks recently opened their rewards platform so that third parties could issue Starbucks stars as a reward. The first major brand leveraging this massive platform is ride-sharing service Lyft (promo landing page). In an email today, they offered 125 stars for the first ride (through 9 Nov 2016) plus 5 stars per "morning commute" on an ongoing basis.

Given that 125 stars earns a free item at Starbucks, the Lyft program is essentially a free coffee for the first ride, then one free drink…

Inside Expensify’s New Concierge Bot

By Julie Muhn (@julieschicktanz) Posted on September 23, 2016
Categories: Expensify

Online expense-report processing company Expensify launched a new bot this week. Her name is Concierge—yes, they gave their bot a gender—and she is an "intelligent, virtual assistant" that combines Expensify's data of billions of dollars of expenses with real-time pricing data of every flight, car, and hotel across the globe.

The automated intelligence bot uses machine learning to assist with new user onboarding, outstanding task notification, customer service, and other tasks and processes. In a blog post announcing Concierge, Expensify highlighted one feature in particular, Scheduled Submit.

After customers use SmartScan to upload their receipts into Expensify, Concierge reads and categorizes those receipts, then adds the data to the user's expense report. The bot even knows if transactions fall within company policy, and if they do, it sends the expense report to the user's manager on their behalf. When combined with Expensify's next-day reimbursement, users can have the…

See What You Missed at FinovateFall: Demo Videos Now Available

By Julie Muhn (@julieschicktanz) Posted on September 23, 2016
Categories: AutoGravity, Backbase, Clinc, FinovateFall 2016, MX, Swych, Trusona

Above: MX jumps for joy to celebrate the company's Best of Show win.

I should start this post by admitting that I missed FinovateFall this year. My wedding was the weekend after the show and there was no way to swing both. While I think I chose wisely, I certainly felt FinovateFall FOMO after reading Twitter highlights and press coverage.

If you, like me, missed out, we have the next best thing to being there. All of the 70 demos from FinovateFall are now available for free in our video archives and event photos are posted on Flickr. Also, there's still time to catch more fintech this fall at our developer's conference, FinDEVr (October 18 & 19) and our first event in Hong Kong, FinovateAsia (November 8).

The best place to start is by watching the six demos that won Best of Show:

AutoGravity

https://finovate.wistia.com/medias/1encgnupeq

Backbase

https://finovate.wistia.com/medias/jjht8bmuuj

…

NCR Unveils Business Banking Mobile App

By David Penn Posted on September 23, 2016
Categories: NCR Corporation

If you are a community bank or credit union, then there's a lot to like in the launch of Business Banking Mobile from NCR. The app brings the SaaS banking services platform to the mobile channel, giving small-and-medium FIs the ability to offer their business customers a range of services via iOS and Android devices. The solution features the user experience of Digital Insight's Mobile Banking Apps, ensuring a familiar, retail feel, and includes TouchID and EyePrint ID biometric authentication options.

Speaking for Harborstone Credit Union (Tacoma, Washington), where the technology is in beta testing, VP of Marketing and Digital Experience Ken Bloomfield called the app "in direct alignment" with Harborstone's commitment to providing an omnichannel experience for its business customers. SVP of Marketing Jim Huff, whose El Paso, Texas-based FirstLight FCU is piloting the new mobile app, highlighted the features that will be available to its businesses,…

Finovate Alumni News

By David Penn Posted on September 23, 2016
Categories: Intellaegis, NCR Corporation, Overbond, P2BInvestor, PayActiv, Taulia

On Finovate.com

NCR Unveils Business Banking Mobile App. Inside Expensify’s New Concierge Bot. See What You Missed at FinovateFall: Demo videos now available.

Around the web

eFinancialCareers profiles Finovate newcomer, Overbond. P2Binvestor wins finance and banking PowerBook award from Denver Business Journal. Taulia tops one million mark for buyer-supplier relationships in its network. Intellaegis announces new chairman, Mark Floyd. Human Resource Executive magazine names PayActiv among its Top HR Products of 2016.

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.