Finovate Alumni News

Around the web

  • Digital Finance Institute features Ethoca, Financeit, Flybits, Horizn, On Deck Canada, Salt Edge, Sensibill, and TickSmith in its look at the top fintech companies in Canada in 2019.
  • AdviceRobo launches new pan-European PSD2 categorization and default prediction API for lenders, CatRobo.
  • Thomson Reuters purchases regtech collaboration platform, HighQ.

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.

Finovate Alumni News

On Finovate.com

  • Finablr Takes Majority Stake in Digital Gifting Innovator Swych.
  • Simple Appoints Former Amazon Exec as CEO.

Around the web

  • Analyst Ian McKenna highlights six Finovate alums – Access Softek, Bucket Technologies, Systelos, BlueRush, Tinkoff, and Golden – in his roundup of “fintech innovators making waves.”
  • Marketing Technology Insights interviews CallVU CEO Ori Faran.
  • Hydrogen, iProov, Ocrolus, and James Finance are among 20 startups competing for top honors at the India FinTech Awards 2018.
  • The Constant Investor’s Crypto Watch interviews Identitii CEO Nick Armstrong on the role of blockchain technology in fighting cybercrime.
  • Tinkoff Mobile extends service to seven additional areas of Russia including Smolensk and the Republic of Mordovia.
  • Kofax pays $400 million in cash to buy Nuance’s imaging division.
  • Walmart’s in-store Direct2Cash service gives PayActiv users instant cash access to earned wages.
  • Kony enhances Kony AppPlatform to support progressive web apps.
  • CEO Review magazine features AdviceRobo CEO Diederick Van Thiel.
  • BehavioSec launches new features for version 5 of its behavioral biometrics platform.

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.

KPMG Takes Minority Stake in Alternative Credit Scoring Specialist AdviceRobo

Alternative credit scoring startup AdviceRobo announced today that KPMG has acquired a minority stake in the company. The amount of the investment was not disclosed.

KPMG Head of Advisory Rob Fijneman called AdviceRobo a “front runner” in credit risk management. He added that the partnership would “enable us to add these types of AI-based predictive behavioral models to our services for lenders,” enhancing credit risk models and lowering costs. The partnership will also enable AdviceRobo to take advantage of KPMG’s expertise in a wide variety of areas including risk management, compliance and regulation, Big Data, and analytics.

AdviceRobo’s approach to credit risk management focuses on the insights available from the non-financial and behavioral data of would-be borrowers. The company’s psychographic risk scoring can be used to access the creditworthiness of applicants for products including loans, mortgages, and credit cards. The technology is especially valuable for lenders working with customers from historically underbanked communities, whose thin credit files make them poor candidates for traditional financing. AdviceRobo CEO Diederick van Thiel estimates that there are more than four billion people around the world who fall into this category and said that technology can help financial services firms reach them.

“Our software enables lenders to target these underserved customers and streamline their credit processes,” van Thiel explained. “This stimulates prosperity and the economy. Moreover, our software has the potential to accelerate credit processes and identify the key risk signals of existing clients. For instance, the software can identify vulnerable consumers who will be at risk of defaulting on loans in the future.”

AdviceRobo demonstrated its CreditRobo solution at FinovateEurope 2016. CreditRobo leverages artificial intelligence to evaluate credit risk, providing early warnings on bad debt, default, pre-payment, and outflow; real-time behavioral data on the risk profile of the customer base; and real-time credit scoring for instant onboarding, renewal, and targeting of the underbanked, whether they are millennials or SMEs.

Founded in 2013 and headquartered in London, U.K., Amsterdam, and Paris, AdviceRobo serves clients in ten countries across Europe and Latin America. In April, AdviceRobo joined the BNP Paribas Plug and Play accelerator program, one month before the company was named to Insights Success’ 20 Most Innovative FinTech Solution Providers roster. Also this spring, the company announced a trio of new bank customers: Hungary’s OTP Group, Argenta of the Netherlands, and Banco Macro of Argentina.

A member of KPMG’s Fintech 100 Emerging Stars, AdviceRobo began the year with news that its Psychographic Credit Score solution would be available via Mambu’s Product Marketplace.

Finovate Alumni News

On Finovate.com

  • KPMG Acquires Minority Stake in Alternative Credit Scoring Specialist, AdviceRobo.
  • Thinking Capital, National Bank Expand Funding Options for Canada’s SMEs.

Around the web

  • Australia’s business bank Tyro to offer flexible same-day settlement and payroll integration courtesy of a partnership with Xero.
  • Spreedly unveils latest version of its Account Updater solution.
  • Dwolla discontinues its last branded solution Transfer; pivots to focus on Dwolla Platform, the company’s white-label API.
  • Klarna to acquire Close Brothers Retail Finance (CBRF).
  • Saudi Arabia’s National Commercial Bank partners with Ripple for instant settlement of cross-border money transfers.
  • WorkFusion launches Partner Portal to support rise in AI-driven automation engagements.
  • Solna launches its intelligent invoicing tool powered by credit score data.
  • Personal Capital Promotes Craig Birk to Chief Investment Officer.
  • Moody’s Analytics partners with Cortera on a small business solution.
  • Arxan launches advanced protection for client-side eeb apps.
  • Checkbook celebrates topping two million user milestone.

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.

Finovate Alumni News

Around the web

  • Entrust Datacard appoints Beth Klehr Chief Human Resources Officer.
  • Emida announces it is actively seeking partnerships with early-stage tech companies whose products and services support the Telecommunications sector.
  • AdviceRobo and Neener Analytics selected for BNP Paribas’ Plug and Play accelerator program.

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.

KPMG, H2 Ventures Unveil Fintech 100 for 2017

It’s that time of the year once again: KPMG and H2 Ventures have teamed up to introduce their Leading Global Fintech Innovators roster, the Fintech 100 for 2017. The judges for this year’s Fintech 100 included more than 20 professionals from KPMG and other organizations with expertise in IT, data analytics, capital markets, financial services, and more.

This year 11 Finovate/FinDEVr alums made the Leading 50, with another 12 alums making the Emerging 50. New entrants to the KPMG/H2 Ventures roster include SoFi and Revolut among the Leading 50. All 12 the alums on the Emerging 50 are making their first appearance. See the full list.

Some of the highlights from the 2017 Fintech 100 include the observation that five of the roster’s top 10 companies are from China, as are the top three companies on the list: Ant Financial, ZhongAn, and Qudian (Qufenqi). The U.S. has a pair of companies in the top five: Oscar and Avant, and Europe and the U.K. each have one company in the top ten: Kreditech and Atom Bank, respectively.

Speaking of Asia, the Asia-Pacific region has 30 fintech companies in the top 100. The United States has 19 companies – the most from any single country – and the U.K. and EMEA areas have 41 companies in the list. The U.K. and EMEA region are also responsible for the highest number of companies on KPMG/H2 Ventures’ Emerging 50 list with 26.

With regard to sectors within fintech, the Fintech 100 breaks down as follows:

  • 32 lending companies
  • 21 payments companies
  • 14 transaction and capital markets companies
  • 12 insurance/insurtech companies
  • 7 wealth management/wealthtech companies
  • 6 cybersecurity/regtech companies
  • 4 blockchain/digital currency companies
  • 3 data and analytics companies

Alums from the Leading 50

Alums from the Emerging Stars

European Alums Shine in FinTechCity’s FinTech50 2017

Less than a week before FinDEVr London 2017, we’ve learned that fifteen of the companies selected by FinTechCity for this year’s FinTech50, a list of top European fintechs, are alums of Finovate and FinDEVr conferences. This is up from last year, when 13 alums who made the list. last year’s list. Six of the companies on the 2017 roster are making repeat appearances: BehavioSec, Fenergo, Kantox, Mambu, Meniga, and Revolut.

Eight of the alums in the FinTech50 are headquartered in the U.K., three hail from Germany, two from Switzerland and one each from Ireland and Sweden. The judges for the FinTech50 are a panel consisting of 60 financial services professionals from banking, payments, venture capital, and public policy-making, among other relevant fields.

2017 marks the fifth year that FinTechCity has produced its roster of the most innovative fintech companies headquartered in the U.K. and Europe. The list is designed to focus on the technology innovations each company has developed rather than the amount of money the companies have made from their technologies.  In a statement at the FinTechCity website, the organization explains the sole criteria for inclusion in the FinTech50 as “the potential to become a game-changer or the competitive staying power to continue being one.”

Here are our winning alums for 2017.

Check out the full 2017 roster. FinTechCity also honored ten fintech startups in an honorable mention category, Hot Ten 2017. Ten companies have also been recognized as the founding members of the FinTech50 Hall of Fame, including Finovate/FinDEVr alums Currencycloud, eToro, Klarna, Nutmeg, TransferWise, and Zopa. Founded by Julie Lake (CEO) and Nicky Cotter, FinTechCity will also unveil the inaugural FinTech50 Asia later this year.

Finovate Alumni News

On Finovate.com

  • Meniga Scores $8 Million to Help Banks Leverage their Data.

Around the web

  • Visa Checkout achieves 20 million enrolled accounts milestone.
  • Kreditech adds two new independent board members.
  • Tradeshift unveils major platform update, Magellan 1.
  • Kofax launches cloud-based document capture and invoicing solution, ReadSoft Online R9.
  • Mitek announces reaching $1 trillion deposit milestone for its Mobile Deposit solution.
  • OutSystems picks up SOC 2 Type 1 attestation report affirming quality of company’s internal controls and processes. Check out the company’s presentation from FinDEVr  2017 New York.
  • NIBC Direct partners with AdviceRobo to help it pro-actively flag mortgage clients that could fall into default.
  • Blackhawk Network Launches Website for Reward Prepaid Cards in Canada

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.

Finovate Alumni News

On Finovate.com

  • Lendio Closes $20 Million Funding Round
  • Lending Club Launches Car Loan Refinancing Product
  • Check out today’s sneak peeks of upcoming FinovateAsia demos:

Around the web

  • AdviceRobo reaches 900k credit scores
  • Bill.com partners with Intuit to power end-to-end accounts payable within QuickBooks Online
  • Actiance appoints Cynthia Crossland as CMO
  • Entrepreneur Magazine names Cardlytics One of the Best Entrepreneurial Companies in America
  • American Banker: Bizfi Hires Former Lending Club Exec as New CEO
  • Intuit expands partnership with PayPal to provide QuickBooks’ Online customers with a new way of accepting payments via PayPal
  • Farm Credit Services of America picks DNA from Fiserv to support agricultural lending
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries
  • Hyperwallet announces support for real-time, push-to-card payments solution, Visa Direct

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.

Finovate Alumni News

On Finovate.com

  • Welcome to Day 2 of FinDEVr Silicon Valley
  • FinDEVr Silicon Valley: Celebrating the Best of the Builders

Around the web

  • FinDEVr alum Thinking Capital launches Lucy, an AI-powered chatbot for small business borrowers.
  • Narrative Science forges strategic partnership with Deloitte to promote broader adoption of advanced NLG technology.
  • AdviceRobo launches Seedrs crowdfunding campaign as part of U.K. growth plan.
  • CME Group to deploy TickVault from TickSmith to improve access to historical data.
  • New mobile app from Azimo enables money transfers via Siri, among other enhancements.
  • FIS introduces unified mobile payments solution, BuyWay.
  • FinDEVr alum Symbiont unveils SDK for Assembly, a distributed ledger for use in institutional finance.
  • EVRY licenses G&D Convego CloudPay from Giesecke & Devrient to offer NFC, HCE mobile payments.
  • FinDEVr newcomer Smartwave announces its first banking client, Societe Generale Serbia.

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.