FinovateFall Sneak Peek: Modo

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Modo Payments

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

The Modo Digital Payments Hub is an awesome way to design and manage the full lifecycle of digital payment transactions across the global payments ecosystem. Oh, and it's COIN operated.

Features:

Modo Digital Payments Hub components:

Payments system connectors Payments transactions Credentials vault Digital experiences

Why it's great
Modo's patented COIN delivers value from any source to any destination, without requiring partners to modify their systems.

Presenters

Bruce Parker, CEO of Modo
Parker is a self-declared #paymentsgeek, and has created new products, built partnerships, and shaped strategy that has moved the payments industry. In some cases, to tears.
LinkedIn

Aaron Wilkinson, Chief Architect of Modo
Wilkinson has a decade and a half of experience in Software Engineering starting with a foundation of real-time embedded software for high-end military vehicles and branching out to many other fields,…

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Avadian CU Chooses Jwaala’s Ignite Plaform for Online and Mobile Banking

By David Penn Posted on
Categories: Jwaala

Birmingham, Alabama's Avadian Credit Union is the latest FI to deploy Jwaala's digital banking platform, Ignite.

"We got the contract hammered out in less than 30 days, and three days after the contract was signed, Jwaala had a server built and ready for us to start working with," said Alpesh Patel, Avadian AVP of information technology. "We were under the gun with our current system's end of life looming, but Jwaala really came through for us."

Avadian CU not only had to beat the deadline of its sun-setting home-banking platform, but also recover from an attempt to work with a different vendor in 2014. A lack of progress after several months led Avadian to look for alternatives, which is when Jwaala stepped in. Moreover, Jwaala's Ignite platform will replace both of Avadian's online and mobile banking systems, another plus as far as the credit union is concerned. "Running a single…

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WePay Launches in the U.K.

By Julie Muhn (@julieschicktanz) Posted on
Categories: WePay

Payments-as-a-service company WePay is launching outside of the U.S. and Canada. Today the Palo Alto, California-based company expanded to the U.K.

That means that WePay clients such as GoFundMe, FreshBooks, and Constant Contact can now serve U.K. clients using WePay's white-labeled, integrated service with fraud protection and compliance offerings. WePay CEO Bill Clerico said the launch facilitates what has "traditionally been a frustrating process for companies that offer payments." Clerico adds, "By partnering with WePay, platforms can now integrate once and immediately offer the same level of payments service on both sides of the Atlantic, safely and seamlessly."

To bolster business development efforts in the new region, WePay has opened a new office in London. The company has also opened an office in Providence, Rhode Island, to support extended customer-support hours.

WePay said Brexit was not a concern for the launch, saying that the developments "do not have bearing on WePay's commitment or ability to support platform payments in the…

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: AutoGravity, CustomerXPs, defi Solutions, ebankIT, Entrust Datacard, Jwaala, Kabbage, Luxoft, Mambu, Modo Payments, Nomis Solutions, Prosper, SigFig, Stockpile, Trulioo, WePay

On Finovate.com

Avadian CU Chooses Jwaala's Ignite Platform for Online and Mobile Banking WePay launches in the U.K. Check out today's set of FinovateFall Sneak Peeks: Trulioo ebankIT  Modo AutoGravity

Around the web

Prosper sets up the Prosper Capital Consumer Credit Fund to invest in loans originated on its platform. Kris Finsoftware and CustomerXPs Launch Clari5 for banks in AsiaPacific. Excelian, Luxoft and Calypso Technology Sign New Partnership Entrust Datacard teams up with Harman to safeguard IoT data. Kabbage turns to Marketo for new marketing solutions. Nomis Solutions upgrades its Deal Manager platform to give retail bankers greater insight into real-time sales and competitive data. A look at fintech in Berlin and London highlights Mambu. defiSOLUTIONS announces new partnership with eOriginal, a digital transaction specialist. Investor's Business Daily profiles Stockpile. American Banker names SigFig as leader in robo-advisory revolution.

This post will be updated throughout the…

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A Look at the First Week of Nasdaq’s Fintech Index

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, American Express, Blackhawk Network, Envestnet, Equifax, Fair Isaac FICO, Fidelity National Information Services, Fiserv, Green Dot, Jack Henry, Lending Club, Markit, MasterCard, PayPal, Thomson Reuters, Vantiv, VISA

While many of you were busy catching Pikachu last week, you may have missed that Nasdaq, in collaboration with KBW, launched an index to track financial technology. Officially named KBW Nasdaq Financial Technology Index (KFTX), the fund tracks 49 fintech companies, including 17 Finovate and FinDEVr alums.

On Monday, 18 July, the index opened at 1,000 points and closed at almost 1,014 points on Friday, 22 July.

Finovate and FinDEVr alums listed in the index include:

ACI Worldwide (ACIW)
FinovateFall 2011 demo American Express (AXP)
FinDEVr Silicon Valley 2015 presentation Blackhawk Network (HAWK)
FinovateFall 2012 demo Envestnet (ENV)
FinovateSpring 2016 demo Equifax (EFX)
FinovateFall 2011 demo Fair Isaac Corp. (FICO)
FinDEVr New York 2016 presentation Fidelity National Information Services (FIS)
FinovateSpring 2015 demo Fiserv (FISV)
FinovateSpring 2016 demo Green Dot (GDOT)
FinovateSpring 2013 demo IHS Markit (INFO)
FinDEVr New York 2016 presentation Jack Henry & Associates (JKHY)
FinovateFall 2015…

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Peter Thiel Takes $3.5 Million Stake in Curated Investing Platform, nextmarkets

By David Penn Posted on
Categories: nextmarkets

You may or may not agree with his politics, but his taste in investments is hard to beat.

At least that's our take on Peter Thiel's latest $3.5 million investment in Cologne, Germany's nextmarkets GmbH. The stake reportedly is part of a larger "seven-figure sum" the company is raising in its current investment round, which features participation from FinLab and EXTOREL.

Already looking forward to seeing nextmarkets put the capital to use growing the business, Stefan Schutze, CEO of FinLab, praised both the company's platform and its ability to get "such strong and well-known partners" to invest in nextmarkets' vision of democratizing the financial markets. Dominic Heyden, co-founder and CTO of FinLab, said, "After nearly two years in development, we can now offer the world's most innovative platform that intelligently combines e-learning with trading."

Manuel and Dominic Heyden, who in 2008 co-founded another Finovate alum, the social trading app ayondo,…

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With Dashlane’s Spaces for Mobile, Passwords Connect the Professional and the Personal

By David Penn Posted on
Categories: Dashlane

Spaces for mobile is Dashlane's latest solution to help employees in the BYOD (bring-your-own-device) era. Based on the desktop version launched in June, the technology gives employees using Android, iPhone, and iPad devices safe and easy access to both their professional and personal Spaces within the platform.

"Password management blurs the line between home and work," Dashlane CEO Emmanuel Schalit said. "If an employee practices safe password habits at home, that same mindset will carry over into his or her workplace." Spaces for mobile will allow users to toggle between personal and professional spaces from the same mobile device, as well as to transfer items back and forth between spaces.

New personalization, help, and onboarding guides have been added. The solution also features an enterprise control which allows an employer to quickly restrict access to professional spaces without interfering with personal space on the platform. The Dashlane blog underscored this feature when Malaika…

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Finovate Alumni News

By David Penn Posted on
Categories: Bill.com, Corezoid, Dashlane, Fiserv, Kasasa, nextmarkets, Q2ebanking

On Finovate.com

With Dashlane's Spaces for Mobile, Passwords Connect the Professional and the Personal Peter Thiel Takes $3.5 Million Stake in Curated Investor Platform, nextmarkets GmbH A Look at the First Week of Nasdaq’s Fintech Index

Around the web

Bill.com co-founder and CEO Andrew Housser weighs in on the relationship between new and traditional credit scoring. Dakota Plains Credit Union to deploy integrated technology suite from Fiserv. American Banker column on new core banking vendors features Corezoid. Deposit Accounts blog features Kasasa. Finextra: Q2 ready to support same-day ACH payments.

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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Quick & Dirty Details of the PayPal – Visa Partnership

By Julie Muhn (@julieschicktanz) Posted on
Categories: PayPal, VISA

Launched in 1998, PayPal is no stranger to fintech. However, most consider the company a competitor rather than an ally to banks and traditional financial services companies such as Visa. This week's news may change that perspective, though not all PayPal shareholders were enamored with the deal, as the stock fell 7% today.

The two payments companies entered into a strategic partnership in which PayPal aligned itself with Visa, conceding some of its turf in the fintech arena. The details below:

Benefits to Visa

During customer enrollment, PayPal will present Visa cards as a "clear and equal payment option," making it easy for consumers to set visa as their preferred payment method The image of Visa digital cards will be incorporated into payment flows PayPal will not encourage Visa cardholders to link to a bank account via ACH (PayPal used to do this to avoid paying fees to the card networks) PayPal will…

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California Bankers Association Selects Vantiv as EFT Processing Partner

By Julie Muhn (@julieschicktanz) Posted on
Categories: Vantiv

Ohio-based Vantiv announced this week it will serve as the payment processing partner of the California Bankers Association (CBA).

More than 100 banks in the state belong to CBA, which is considered one of the largest state banking trade associations and is a long-standing partner of Finovate. CBA member banks have access to Vantiv's payment processing solutions for credit and debit card payments, as well as ATMs. The banks can also take advantage of Vantiv's MobiMoney mobile app that promotes safe spending habits among cardholders by allowing them to turn cards on and off, sending them alerts, and enabling them to set parameters around geographic location, merchant type, and transaction amount.

Julianna Graham, SVP of strategic partners at the CBA said that CBA selected Vantiv because of the "scale and scope" of its services, as well as its "proven track record of innovation.”

At FinovateFall 2014 Vantiv launched TriPOS, a payment integration platform solution…

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Sberbank Earns Multiple Honors in Global Finance Awards

By David Penn Posted on
Categories: Sberbank

One contest. Four awards. Not a bad day at the office for Sberbank.

The Russia-based bank picked up top honors in four categories of the Global Finance awards for Central and Eastern Europe. Sberbank won Best in Mobile Banking, Best Bill Payment & Presentment, and Best SMS/Text Banking. "By participating in the Global Finance awards we are able to see and evaluate the position of our digital products on the international market," Svyatoslav Ostrovsky, Head of Bank XXI Department at Sberbank, said. "Sberbank has represented Russia as a leader in mobile banking, information security, and online payments."

Pictured: Svyatoslav Ostrovsky demonstrating Sberbank Messenger at FinovateSpring 2016 in San Jose, California.

The Global Finance International Consumer Digital bank Awards are an annual event for banks in the CEE region, with selection categories changing annually. In addition to a focus on mobile technologies this year, judging criteria for the awards was particularly…

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Finovate Alumni News

By David Penn Posted on
Categories: Fiserv, OutsideIQ, PayPal, Prairie Cloudware, Prevoty, ProfitStars, Quantopian, Sberbank, Temenos, ThetaRay, Vantiv, VISA, Wealthfront, Yoyo

On Finovate.com

Sberbank Earns Multiple Honors in Global Finance Awards. California Bankers Association Selects Vantiv as EFT Processing Partner. Quick and Dirty Details of the PayPal – Visa Partnership.

On FinDEVr.com

Prevoty Wins 2016 Stratus Award for Best Small Company Cloud Security Service.

Around the web

ITProPortal interviews Temenos Chief Strategy and Marketing Officer, Ben Robinson. Fiserv launches Grapevine6 to help deliver content over its wealth management network. Quantopian adds new Head of Trading, Dragan Skoko. VISA and PayPal enter strategic partnership to improve payment experience for consumers. Mobile Payments Today quotes Prairie Cloudware co-founder and CMO Michael Carter on banks and mobile wallets. Wealthfront unveils updated iPhone app. ProfitStars earns 2016 Top Workplace commendation from The Tennessean. Espresso Capital features Outside IQ's creativity in raising capital. Yoyo Wallet expands to Singapore. ThetaRay opens office in Singapore.

This post will be updated throughout the day as news and developments emerge.…

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