Finovate Alums Earn Top Honors at U.K. Emerging Payments Awards

Finovate Alums Earn Top Honors at U.K. Emerging Payments Awards
By David Penn Posted on
Categories: Clover Network, Currency Cloud, Ethoca, Hyperwallet, Kalixa, MasterCard, Revolut

Three Finovate/FinDEVr alums won top honors at the Emerging Payments Awards in London, United Kingdom, earlier this month.

HyperwalletLogoHyperwallet won in the “Best Corporate/Government Payments Programme” division with its Paylution Global Disbursements Program. In a statement, CEO Brent Warrington highlighted the scalability and flexibility of the Hyperwallet platform, and reported that more than five million independent workers are currently using the technology. Hyperwallet demonstrated its RESTful API and embedded payout widget at FinDEVr 2015 in San Francisco in October.

Revolut_logo_high-resIn partnership with Optimal Payments, Revolut won the “Best Emerging Payments Startup” category. Optimal Payments and Revolut teamed up back in July to launch a multi-currency MasterCard and mobile app that helps travelers take advantage of the best exchange rates available. Revolut made its Finovate debut this year at FinovateEurope 2015 in London.

Clover_logoClover Mobile won “Best Payment Technological Innovation” for its Future-Proof mPOS. Clover Mobile was launched in the fall of 2014, a year after Clover was acquired by First Data. Clover made its Finovate appearance at FinovateSpring 2012 in San Francisco.

The other four Finovate/FinDEVr alums that made it to the finals were:

The event’s overall Industry Contributor Award went to IrisGuard for its EyeBank Iris Recognition electronic payment platform. The platform has been deployed to help bring “sustainable financial inclusion” to those in the Syrian refugee program. As of June 2015, the program had enrolled more than 1.6 million refugees.

Now in its eighth year, the Emerging Payments Awards help recognize creative and business talent in the payments industry. The Awards are run by the Emerging Payments Association, which has also provided the Prepaid Awards since 2006. The Association said that this year’s Emerging Payments Awards was its largest event to date.

If you’re in the United Kingdom and love fintech, then make sure FinovateEurope 2016 is on your calendar. Our two-day conference returns to London, February 9 and 10, 2016.

 

 

 

 

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Finovate Alumni News

By David Penn Posted on
Categories: blooom, Diebold, Prairie Cloudware, SimplyTapp, Trulioo, TSYS, Yodlee

On Finovate.com

  • Finovate Alums earn top honors at U.K.’s Emerging Payments Awards.

Around the web

  • NPR’s Morning Edition features Greg Smith, president of Blooom, in a segment on robo-advisory.
  • Diebold and SimplyTapp team up to introduce a white-label mobile wallet.
  • Trulioo now provides real-time ID-verification coverage in India.
  • INTECH licenses Digital Payments Guardian from Prairie Cloudware.
  • Yodlee integrates with Salesforce Financial Services Cloud.
  • TSYS and Ingenico partner on new solution to simplify EMV certification.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account

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Financeit Closes Undisclosed Amount of Funding from Goldman Sachs

Financeit Closes Undisclosed Amount of Funding from Goldman Sachs
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinanceIt, Funding

FinancitHomepage1015

Canada-based Financeit, a company that offers cloud-based POS financing, closed an undisclosed amount of funding today.

Goldman Sachs led the round, and the amount furnished is undisclosed.

The company’s last round of funding, an installment of $13 million, was received in November 2013. This brought the company’s total amount raised to $21.5 million. Today’s undisclosed amount brings the company’s total funding somewhere north of that amount.

According to the press release, Financeit plans to use the funds to add to its merchant partner base of 4,000. Co-founder and CEO Michael Garrity states, “The minority investment made by Goldman Sachs gives us growth capital to put our leading-edge financing platform into the hands of more merchants.”

Last year, in partnership with FIS, Financeit launched in the United States. Check out the launch video here. In its four years of operation across the two countries, Financeit has received more than $1 billion in loan applications.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: DAVO Technologies, Expensify, FinanceIt

On Finovate.com

  • Financeit closes undisclosed amount of funding from Goldman Sachs.

Around the web

  • CEO CFO interviews feature DAVO Technologies’ CEO Owen Brown, co-founder.
  • FirstRound.com: Expensify’s CEO David Barrett talks about the tactics that doubled Expensify’s customer base in just six months.

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.

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FinDEVr New York Launch, March 2016

FinDEVr New York Launch, March 2016
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr 2016 New York

FinDEVrNYHomepage

The biggest takeaway from our just-completed FinDEVr event was just how fast the fintech world is moving towards platforms, APIs and other sophisticated integrations. And it’s too hard to keep pace with just a single annual developer’s event.

So we are excited to announce a second show, FinDEVr New York, 29/30 March 2016.

Tickets are on sale. Special ticket pricing for developers lowers pricing <$500. Register now before pricing increases.

ChainPreso

Based on feedback from previous FinDEVr events, including the record 600 who attended last week, we’ve landed on a format that resonates with the technical crowd. Four or five dozen leading fintech providers will show off their newest tools and APIs in fast-paced, 15-minute presentations focusing on the TECH in fintech.

The dual-track program—along with ample time to work one-on-one with the presenters—will be held in the New World Stages in mid-town Manhattan.

NewWorldStagesIMG

Curious about the content? Next week, the full-length videos of the 63 presentations at FinDEVr San Francisco will be available at Finovate.com.

If you’re interested in presenting at FinDEVr New York, please email [email protected] for more details.

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Finovate Debuts: LiquidLandscape’s Visualization Solves Scattered Data

Finovate Debuts: LiquidLandscape’s Visualization Solves Scattered Data
By Julie Muhn (@julieschicktanz) Posted on
Categories: Finovate Debuts, LiquidLandscape

LiquidLandscapeHomepage

LiquidLandscape offers banks a risk-visualization workspace. The startup’s LiquidLandscape Notebook is a collaborative space where banking executives view and interact with data on a map and communicate with each other about the correlations.

Company facts:

  • Barclays tech-accelerator alum
  • 3 employees
  • Headquartered in San Francisco
  • Founded 2013

All financial services firms must communicate about data, but it is not always easy to understand how the data-points relate, or what potential issues the correlations may indicate. LiquidLandscape helps solve this issue of scattered data.

CEO Margit Zwemer describes the product as instant replay for financial services’ data that creates a “tube map” to show data-bottlenecks. The LiquidLandscape dashboard can map the data in an intelligible way, making it easy for employees to zoom in, at any level, to help answer the questions:

  1. What is the problem?
  2. What data indicate the issue?
  3. What decision was made?

In the screenshots below, the user is examining capital flow among major countries.

LiquidLandscapeDataOverview

After the user selects their desired specifications, type, and ranges, LiquidLandscape maps the data. In the screenshot below, the user has drilled down to examine Hong Kong’s trades with China, Japan, and the United States.

LiquidLandscapeWorldTrade

The platform also facilitates communication. Rather than require employees to email data back and forth, LiquidLandscape creates efficiency by enabling users to comment within the platform on specific data-points.

The screenshot below shows the discussion log on the right panel that creates a history of the chat-log around data. All comments are tied to the data, and users can respond to comments, making it easy to keep communication threads organized.

LiquidLandscapeDiscussion

It is easiest to understand the power of LiquidLandscape’s platform through examples. Using various types of big data, the dashboard helps analyze:

  • Fund flows between ETFs
  • Risk-limit breaches between individual traders and the risk department’s requirements
  • Connections between different parts of an organization
  • Mortgage applications completed online vs. in-app
  • Audit trails for compliance
  • Consumer credit qualification

LiquidLandscape is secure and fully compliant. And while there are essentially no limits on what its engine can help visualize, the startup is currently focused on helping financial services companies understand and mitigate risk. LiquidLandscape does, however, have future plans to broaden its focus in the upcoming years.

What’s next?
This fall, LiquidLandscape launched in beta. The company is in the middle of fundraising and plans to grow its three-person team.

Here is the LiquidLandscape team debuting at FinovateFall 2015:

http://finovate.wistia.com/medias/2lffbvq11o?embedType=api&videoFoam=true&videoWidth=800

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OnDeck Adds New Small Business Lending Options

OnDeck Adds New Small Business Lending Options
By David Penn Posted on
Categories: On Deck Capital

OnDeck_homepage_Oct2015

Online SME lender OnDeck has announced a significant expansion of its product line for small businesses.

The expanded product suite includes broader loan terms—increasing the maximum loan amount from $250,000 to $500,000—and granting borrowers up to 36 months to repay (from 24 months). Lines of credit will be available up to $100,000 (from $20,000) for a monthly fee of $20 and no “draw fees.” Repeat customers will be eligible for annual rates as low as 5.99%, as well as loyalty pricing benefits.

Calling the new product line a “natural expansion,” OnDeck CEO Noah Breslow said the new options would give customers more ways to finance their growth. The combination of OnDeck’s “fifth-generation OnDeck Score,” its economies of scale, and its customer service, he said, meant the company was now able provide “credit solutions for virtually any small business financing need.”

OnDeck_stage_FinDEVr2014

From left: Ondeck’s Miranda Lanzillotti, marketing communications manager, and Pamela Rice, senior vice president of technology, discussed lending APIs at FinDEVr 2014.

One of the pioneers in alternative lending, OnDeck has used data aggregation and digital payment technology to provide small and medium businesses with capital since 2007. Since inception, the company has delivered more than $3 billion in funds to companies working in more than 700 industries. OnDeck provides its third-party partners with APIs that deliver fully integrated lending functionality that includes loan applications, preapprovals, and prequalifications.

Just this week, OnDeck announced it was expanding its partnership with the Association for Enterprise Opportunity. And last month, the company teamed up with Intuit to launch a $100 million lending fund for small businesses.

Fortune magazine listed OnDeck as one of the 100 Best Places to Work for Millennials. The company was highlighted among the top 25 alternative lending startups by Let’s Talk Payments, and ranked in the top 20 of Selling Power’s list of 2015 Best Companies to Sell For.

OnDeck presented at FinDEVr 2014 in San Francisco and returned this year to FinDEVr 2015. In 2012, OnDeck demonstrated OnDeck Connect at FinovateSpring 2012 in San Francisco. The company was founded in 2007 and is headquartered in New York City. OnDeck went public in December 2014, raising $200 million and earning a valuation of $1.3 billion.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, Cachet Financial Solutions, Encap, Feedzai, Kabbage, LiquidLandscape, Mambu, Motif Investing, On Deck Capital, PayItSimple, SecondMarket

On Finovate.com

  • Finovate debuts: “LiquidLandscape’s Visualization Solves Scattered Data”
  • “FinDEVr Launches in New York, March 2016″
  • “OnDeck adds new small business lending options”

Around the web

  • The Financial Brand: Beyond the Arc’s Steven Ramirez considers three fintech trends from Finovate alums.
  • Nasdaq acquires SecondMarket to help startups sell shares.
  • Motif Investing partners with J.P. Morgan to offer investors fractional IPO shares.
  • ING and Kabbage partner to bring platform lending to Europe’s small businesses.
  • PayItSimple USA changes its name to Splitit.
  • Encap Security announces formation of new advisory board.
  • Algomi wins “Most Innovative Trading Product/Service” category at the Financial News Awards in Trading & Technology for the second consecutive year.
  • OakNorth Bank chooses Mambu as its banking technology partner.
  • Feedzai introduces data science studio for fraud prevention.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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SumUp Brings its mPOS Technology to America

SumUp Brings its mPOS Technology to America
By David Penn Posted on
Categories: SumUp, VISA

SumUp_homepage_Oct2015

SumUp, a leading European mPOS (mobile point of sale) innovator, is launching in the United States.

And if you ask SumUp CEO Daniel Klein, the company has arrived just in time.

“We are here to help U.S. merchants and partners, such as cash register vendors, to transition quickly and securely to EMV, by making payments as easy as possible for their customers,” Klein said. He pointed out that SumUp is the “platform of choice for EMV transactions in 14 countries” serving tens of thousands of merchants.

SumUp_stage_FEU2013b

SumUp CMO and co-founder Stefan Jeschonnek demonstrated his company’s platform at FinovateEurope 2013 in London.

As part of its U.S. launch, SumUp will be unveiling a new EMV contactless card terminal, available for pre-order at $99. The new terminal is designed specifically for the U.S. market, enabling merchants to accept electronic and e-wallet, Apple Pay and Android Pay payments via NFC, as well as accept payments with EMV chip-cards. “The shift to EMV chip-cards puts more costly fraud liability on stores without chip terminals,” Klein added, “but only half of small businesses are even aware of EMV liability.”

SumUp provides end-to-end payment-processing solutions supported by its own proprietary EMV card terminals, and mobile apps. U.S. merchants using the technology will be able to accept Visa, MasterCard, and American Express payments. SumUp will charge a transaction fee of 2.75%. The company plans to announce strategic partnerships with “major U.S. companies” soon.

One company already partnered with SumUp is Visa, whose SVP for Innovation and Strategic Partnerships, Bill Gajda, praised SumUp’s “impact on the conversion of cash to electronic commerce” around the world. Gajda added that encouraging EMV adoption was also important. “We are focused on encouraging and supporting the adoption of EMV chip technology in the U.S. as quickly and efficiently as possible, so that everyone can realize the powerful security benefits that EMV chips provide,” he said.

Founded in 2011 and headquartered in Dublin, Ireland, SumUp demonstrated its platform at FinovateEurope 2013 in London. The company has more than $56 million in funding.

For more information about our upcoming FinovateEurope 2016 conference, visit our information page.

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FinDEVr APIntelligence

FinDEVr APIntelligence
By Julie Muhn (@julieschicktanz) Posted on
Categories: Arxan Technologies, Avalara, CardFlight, Cloud Lending, Kontomatik, MX, On Deck Capital, SnoopWall, Thomson Reuters, Tradier, WorldPay

FinDEVr2016-NY-(Stacked)V2Are you building new financial technology? Be sure to check out coverage from our recent developers conference in San Francisco. We’re taking the fintech developer tool showcase to New York, 29/30 March 2016. Stay tuned for details.

Developer news

  • Dev Bootcamp and Metis partner with Skills Fund to broaden access to web developer and data-science programs.
  • TechCrunch’s This Week On Bullish: Maturity In The Payments Space.

The latest from FinDEVr San Francisco 2015 presenters

  • Let’s Talk Payments interviews CMO Konstantin Rabin, of Kontomatik.
  • BAI Retail Delivery conference attendees select MX as Innovation Showcase Award winner.
  • Thomson Reuters and Samsung to collaborate on mobile security, intelligent IT for the enterprise.
  • Avalara announces sales-tax-accuracy guarantee.
  • “Worldpay Goes Public; Shares Rally on Trading Debut”
  • Silicon Review lists SnoopWall as 1 of 20 fastest-growing security companies.
  • Arxan now secures applications running on 500+ million devices.
  • OnDeck again expands its partnership with the Association for Enterprise Opportunity to support access to capital for entrepreneurs and small businesses.
  • Banking Technology features multiple FinDEVr alums on Readers Choice Awards.

Alumni updates

  • Cloud Lending Solutions announces underwriting and origination upgrades.
  • CardFlight and Cayan team up to provide EMV-ready mPOS solutions.
  • The Hindu features Cloud Lending Solutions’ co-founder Snehal Fulzele.
  • Global AutoTrading integrates with Tradier to extend brokerage services.

It’s easy to stay current on daily developments by following FinDEVr on Twitter.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Alpha Payments Cloud, Credit Karma, Fiserv, iSignthis, Monitise, Plaid, SumUp, Top Image Systems, Trulioo, Zopa

On Finovate.com

  • “SumUp Brings its mPOS Technology to America”

Around the web

  • iSignthis and TikForce enter agreement for identity services.
  • Banks and merchants connected through Alpha Payments Cloud’s AlphaHub now have access to the iSignthis suite of services.
  • Functional Geekery interviews Plaid engineer David Chambers.
  • Power supplier ENEL to deploy TIS’s automated accounts payable and accounts receivables processing-solution across Russia.
  • TechCrunch Cribs features Credit Karma’s office.
  • Telefonica to work with Monitise in its transition to a cloud-based business.
  • Nigel Morris of QED Investors to join Zopa board of directors.
  • Fiserv launches wealth-management partnership with InvestEdge.
  • Trulioo, was named Top Innovator at the Integrate 2015 conference.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Xpenditure Raises $5.7 Million in Series A

Xpenditure Raises $5.7 Million in Series A
By David Penn Posted on
Categories: Funding, Fundings, Xpenditure

Xpenditure_homepage_Oct2015

FinovateEurope 2014 alum Xpenditure has just raised $5.7 million in new funding. The investment takes the Belgium-based expense management solution provider’s total capital to more than $9 million.

The Series A round was led by a variety of private investors, including current shareholder Bart Swanson, along with Lorenz Bogaert, Toon Coppens, and Jonas Dhaenens.

Writing about the investment at the Xpenditure blog, company CEO and co-founder Boris Bogaert said the investment comes as the company is poised for growth in Europe and beyond. Bogaert added that Xpenditure plans on “doubling the team in the next four months” as well as making additional investments in technology.

CardWise_Xpenditure_stage_FEU2014

From left: Co-founder and COO Wim Derkinderen and Head of Product Koen Christiaens demonstrated Xpenditure at FinovateEurope 2014.

Xpenditure specializes in providing alternatives to traditional, often manual, expense report management. Or, as Bogaert is quoted in TechCrunch, “We want to kill the monthly expense report.” He pointed out that creating worthwhile solutions requires more than simply recreating manual processes in digital form, as some software companies have tried to do.

Instead, Xpenditure provides businesses with a solution that handles the entire expense management process from receipt to accounting. Xpenditure’s mobile app allows users to scan and upload receipt data directly to their online account. A dashboard enables transparency and easy expense management. Businesses can generate PDF reports or create them within their accounting and ERP software such as Intuit’s QuickBooks and Xero.

Founded in 2011 and officially launched in March 2013, Xpenditure demonstrated its platform at FinovateEurope 2014 in London. The company has offices in New York, Brazil, Germany, and Belgium, and serves customers in more than 22 countries around the world.

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