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Finovate Alumni News

By David Penn Posted on August 24, 2016
Categories: Betterment, CustomerXPs, FinanceIt, Nopsec, Nous.net, The ID Co., True Potential

On Finovate.com

Financeit Launches Direct-to-Consumer Financing Platform, Financeit Direct Meet The ID Co.: miiCard Rebrands as DirectID Spurs Growth Fintech with The Jetsons at FinovateFall 2016 New Liquidity Compliance Tool from CustomerXPs Nous Launches New Trading App TIQL for a Safer Way to Trade Check out this week's FinDEVr APIntelligence

Around the web

Uber partners with Betterment to offer drivers flexible retirement accounts that will be fee-free for a year. CU Broadcast features NopSec CTO Michelangelo Sidagni. True Potential teams up with UBS Asset Management to launch five, new multi-asset funds.

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: 106 Companies Raise $2.0 Billion in July

By Jim Bruene Posted on August 23, 2016
Categories: Funding

Total funding worldwide in July was $1.95 billion from 106 deals compared to June with $1.6 billion across 186 deals. Due to our weekly tracking methodology, an additional week in June was added, so average weekly deal flow was 37 in June compared to 27 in July. While that is a 30% decline month-over-month, July's total was in line with the average of 28 deals per week YTD.

The weekly details can be found through the following links:

21 companies raised $681 million the last week of July (see below) 26 companies raised $530 million week ending July 22 32 companies raised $210 million week ending July 15 23 companies raised $530 million week ending July 8

July closed with 21 deals announced in the final week. That makes it 29 weeks out of 30 this year surpassing 20. And for the first time in many years, not a single company was based in Northern California (and there was just one…

FinovateFall Sneak Peek: Bluescape

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: Bluescape, FinovateFall 2016, FinovateFall 2016 Sneak Peek

A look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Bluescape, a visual collaboration platform, enables financial UX/UI design teams to see the whole picture as they design, refine, and develop better products faster.

Features:

Cloud-native interactive workspace with an intuitive interface that encourages teams to defy conformity Faster decision-making with real-time collaboration Ultra-scalable, all-capturing

Why it's great
With Bluescape, design teams can see the forest and the trees.

Nick Brown, Vice President of Products
Brown leads a team of designers to drive product strategy, user experience and product management. He brings more than 25 years of experience, including leadership positions at SAP and Oracle.
LinkedIn

LendUp Gets a Leg Up with $47 Million

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: Funding, LendUp

Payday lender-alternative LendUp landed $47 million in series C funding this week. Y Combinator's growth fund, Y Combinator Continuity, led the round. Google Ventures, Thomvest Ventures, QED Investors, Data Collective, Susa Ventures, Radicle Impact, Bronze Investments, SV Angel and other angels also contributed.

The $47 million brings the company's total funding to just over $110 million. LendUp will use the funds to build LCard, a credit card with a companion mobile app designed to help users build credit.

Founded in 2011, LendUp aims to help consumers rejected by banks find a safe alternative to payday lenders. The San Francisco-based company offers three main products:

LendUp Loans, a payday loan alternative that lets users borrow up to $250 for 30 days LCard, a credit card made for those who have historically struggled with credit Educational materials, free online courses to give cardholders the information they need to make decisions about their financial future

The company's…

Narrative Science Turns Images into Insights for Tableau Software

By David Penn Posted on August 23, 2016
Categories: Narrative Science

Is a picture really worth 1,000 words? Thanks to a new partnership between data-visualization solution-provider, Tableau software, and natural language generation (NLG) specialist, Narrative Science, we may soon find out.

With the new Narratives for Tableau, users of Tableau Server and Tableau Public will be able to generate natural language explanations of their data visualizations. Narratives for Tableau is available as a free Google Chrome extension, and the company says the extension is the "first step" toward a greater integration between the two technologies. "We are thrilled to be partnering with Tableau, a company that equally shares our passion of helping people understand their data and act on it immediately," Narrative Science CEO Stuart Frankel said. He praised the idea of putting Advanced NLG technology at the front of the data-discovery process, which he said gives users "the best and easiest asset for understanding and sharing information narratives."

Click image to…

FinovateFall Sneak Peek: Fiserv

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Fiserv

A look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 8 2016. Register today.

Fiserv delivers deep expertise and innovative solutions to help financial institutions move beyond traditional banking and provide consumers with a complete and seamless banking experience.

Features:

Positions financial institutions to disrupt the social lending space Allows customers to obtain social-funded loans through trusted financial institutions Uses biometrics to simplify verification

Why it's great
By utilizing proven mobile banking and payments technologies from Fiserv, financial institutions can deliver a rich and compelling banking and lending experience across digital and physical channels.

Presenters

Andrew Barnett, Principal Digital Banking and Payments Consultant
Barnett is experienced in innovation development and a recognized thought leader responsible for implementing prototypes and showcasing them throughout the globe.
LinkedIn

Elizabeth Santorelly, Innovation Manager
Santorelly leads the Innovations team in developing the strategy, technology and user experience that generate value and support for financial…

FinovateFall Sneak Peek: EyeVerify

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: EyeVerify, FinovateFall 2016, FinovateFall 2016 Sneak Peek

A look at the companies that will be demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

EyeVerify unlocks every opportunity with Eyeprint ID. One look logs you into banking apps and secures your mobile payments.

Features:

Fast, accurate mobile authentication for banking and payments Scalable, software-only solution that uses existing smartphones Uses biometric data to generate a high entropy key

Presenters

Chris Barnett, EVP Global Sales & Marketing
LinkedIn

Tinna Hung, Director of Marketing
LinkedIn

FinovateFall Sneak Peek: nanoPay

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, nanoPay

A look at the companies that will be demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

nanoPay's MintChip has been developed to offer efficient payment transactions in a variety of channels for developed and emerging markets, bringing all the benefits of cash to the digital age.

Features:

The core MintChip model is a simple, direct asset-transfer model Payments are immediate and irrevocable, no intermediary Cost and performance can be optimized

Why it's great
Unlike conventional electronic payment systems, MintChip can operate in both offline and online modes, unreferenced to any trusted party. It provides a low-cost, omnichannel solution for businesses.

Presenters

Laurence Cooke, CEO and Founder
Cooke is the former COO of Bell Mobility and Bell Distribution Inc. and the former VP wireless for Shaw Communications Inc. He also held positions at Accenture, United Kingdom, focused on high tech and telcos.
LinkedIn

Simon Keogh, Chief Marketing…

FinovateFall Sneak Peek: LendingFront

By Julie Muhn (@julieschicktanz) Posted on August 23, 2016
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, LendingFront

A look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

LendingFront is a highly sophisticated cloud-based platform for lenders that need a faster, more efficient, and automated way to lend to small businesses.

Features:

Integrates cash-flow data or any type of data into the lending process Builds and quickly deploys custom loan products Little or no need for heavy legacy system modifications or integrations

Why it's great
LendingFront operationalizes the lending process into a single, highly automated platform.

Presenters

Jorge Sun, CEO
Sun is a founding team member and company director at On Deck Capital. He formerly headed up Capital One Bank's small business risk team and has held senior leadership roles at JPMorgan Chase and American Express.
LinkedIn

Dario Vergara, CTO
Vergara is the former head of technology at On Deck Capital, and filled the same role for Bonobos.
LinkedIn

Finovate Alumni News

By David Penn Posted on August 23, 2016
Categories: Bluescape, EyeVerify, Fiserv, Kasasa, LendingFront, LendUp, nanoPay, NCR Corporation, Slice, Temenos, TransferTo

On Finovate.com

LendUp Gets a Leg Up with $47 Million Check out today's FinovateFall Sneak Peeks: Fiserv EyeVerify nanoPay Bluescape LendingFront

Around the web

NCR launches innovation lab at its new global headquarters in Atlanta, Georgia. London-based BACB to replace its legacy IT systems with CorporateSuite from Temenos. TransferTo integrates paysafecard as payment option within Safemoni app. Slice launches browser add-on to send an email when the price of an item drops. Kasasa now has 400 community FIs using its rewards account offering.

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.

Last Call for FinovateAsia 2016 Demo Applications!

By Erika Sanchez Posted on August 22, 2016
Categories: Finovate Marketing, FinovateAsia 2016

Got a new fintech innovation you’re looking to showcase? The final application deadline to demo at FinovateAsia 2016 is coming up this Friday, August 26. If you're looking to make serious inroads in Asia and want to reach the movers and shakers, submit an application this week (see below for more details).

Finovate is the only conference focused exclusively on showcasing the best and most innovative new financial and banking technologies via seven-minute live demos. Finovate conferences consistently attract large, high-impact audiences of high-level financial and banking executives, press and industry analysts, venture capitalists, regulators, and entrepreneurs. We've seen dramatic growth at all our 2016 events, and we're excited to take Finovate to Hong Kong for the first time on November 8.

For presenters, Finovate is a powerful platform to:

Drive product adoption of the latest and most cutting-edge solutions in fintech Showcase new, high-impact technology in front of an influential audience Generate press recognition, find…

Compass Plus Partners with Mutual Trust Bank

By Julie Muhn (@julieschicktanz) Posted on August 22, 2016
Categories: Compass Plus

Retail banking solutions provider Compass Plus has teamed up with one of the top five retail banks in Bangladesh, Mutual Trust Bank (MTB).

Under the agreement, MTB has migrated its in-house processing center to TranzWare from Compass Plus. The bank said it chose to transition to TranzWare "due to the platform’s strong local support, robust EMV capabilities and security features, flexibility, and its cost-effectiveness."

The project began in May and has since migrated MTB's card base of 200,000 to the platform. MTB will implement 3D Secure to achieve acquiring certification with MasterCard in the near future. MTB is the second bank to go live with TranzWare this month. On August 9, Cambodia-based Prasac launched internet and mobile banking services using the multicard-processing solution.

Founded in 1989, Compass Plus debuted TransAxis at FinovateFall 2012. The London-based company recently became one of five institutions to earn aggregator accreditation from the Faster Payments initiative in the…