Alumni News

10x Banking Partners with DLT Apps

10x Banking Partners with DLT Apps
By David Penn Posted on
Categories: 10x Banking, Alumni News
  • Core banking platform 10x Banking has teamed up with data migration solutions company DLT Apps.
  • The partnership combines DLT Apps’ TerraAI technology with 10x Banking’s advanced migration tooling capabilities to minimize error and downtime during the data migration process.
  • Headquartered in London, 10x Banking won Best of Show in its Finovate debut at FinovateEurope 2023.

A new partnership between cloud-native meta core banking platform 10x Banking and data migration solutions company DLT Apps leverages AI to ensure that banks are able to make the most of their digital transformation initiatives. Specifically, the partnership puts DLT Apps’ TerraAi technology to work in helping institutions transition from legacy and non-legacy systems to 10x Banking’s platform.

“A key differentiator of this joint solution is the ability of 10x to load data in any sequence, validate it in a controlled staging environment, and ensure that every transformation is auditable,” 10x Banking CPO Okan Ozaltin said. “This allows banks to manage their migrations with precision, reducing the risk of data loss or corruption and accelerating the migration process,” he added. “This enables clients to quickly realize the benefits of their new systems.”

TerraAI features robust data transformation and AI-powered migration tools to prioritize data integrity and quality. Along with DLT Apps’ MigratIO platform, TerraAI is equipped to handle all data formats and includes an intuitive user interface that makes data mapping and reconciliation easier. MigratIO provides detailed audit trails and real-time data quality monitoring to give users visibility over the entire migration journey so that any potential issues can be addressed as early as possible in the process.

“This partnership ensures the quality and integrity of data is maintained from start to finish as users can identify data quality issues early in the migration lifecycle,” DLT Apps Founder and MD Santosh Reyes said.

Founded in 2018 and based in London, DLT Apps uses blockchain, AI, cloud, and micro-services technologies to transform financial services and accelerate digitization. In addition to TerraAI, the company offers a digital financial profile solution, Quinn, that facilitates streamlined onboarding, ongoing monitoring, and client lifecycle management; Zilo, a modern global transfer agency; and Zeta Wealth, which offers advanced financial tools for investment planning, portfolio management, and compliance.

10x Banking won Best of Show in its Finovate debut at FinovateEurope 2023. At the conference, the company demoed its 10x SuperCore cards that enable banks to build a card proposition in minutes with 10x Banking’s Bank Manager interface. More recently, 10x Banking reflected on its achievements in 2024, including the launch of the world’s first meta core platform, its first client in Africa, and new partnerships with companies like Deloitte and Flexys, as well as with fellow Finovate alums Zafin and Alloy.

Headquartered in London, 10x Banking was founded in 2016. The company has raised $297 million in funding according to Crunchbase. Antony Jenkins is Founder, Chair, and CEO.

To learn more about 10x Banking, check out my interview with company VP Lewis Ide on high growth opportunities for banks in APAC and Africa.

Photo by Lina Kivaka

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Union Credit Teams Up with MeridianLink to Enhance Lending at the Point of Purchase

Union Credit Teams Up with MeridianLink to Enhance Lending at the Point of Purchase
By David Penn Posted on
Categories: Alumni News, Union Credit
  • Union Credit has announced a new partnership with MeridianLink.
  • The partnership will simplify and streamline the lending process for credit unions with real-time financing solutions at the point of purchase.
  • Union Credit most recently demoed its technology at FinovateFall 2024.

Union Credit, a marketplace for credit unions that offers pre-approved, one-click credit offers at the point of purchase, has teamed up with software platform MeridianLink. The partnership will help simplify the lending process for credit unions with seamless, real-time financing solutions that can help drive member growth.

“Our goal is to simplify lending processes, turning them into a seamless, hassle-free acquisition tool for credit unions, while providing consumers access to an array of local financing options and all the great benefits of credit union membership,” Union Credit Co-Founder and CRO Barry Kirby said. “By reducing manual input and improving efficiencies for credit unions, we’re helping them grow their membership while redirecting resources to other strategic areas.”

Union Credit believes that making it easier for consumers to secure pre-approved offers when they shop not only creates a more convenient financing experience, but also can help credit unions attract and retain new members. The partnership with MeridianLink will enable credit unions in Union Credit’s marketplace to leverage a direct integration with MeridianLink’s loan origination system (LOS) for efficient lending and onboarding. This enables credit unions to process more applications faster and reduce manual data entry while boosting loan volume and membership growth.

MeridianLink’s loan origination technology offers features such as single sign-on, smart cross-sell, and flexible account opening. The company’s cloud-based platform includes a built-in price engine, seamless third-party integrations via Open API, as well as “best-in-class” client support that starts with implementation. The Costa Mesa, California-based company is publicly held, trading on the New York Stock Exchange under the ticker MLNK, and has a market capitalization of $1.45 billion. Nicolaas Vlok is CEO.

Headquartered in Santa Rosa, California, Union Credit made its Finovate debut at FinovateFall 2023 and returned the following year for FinovateFall 2024. Most recently, the company demoed its Always Approved Marketplace SDK, which provides API services that can be used by third parties for member eligibility checks, rate lookup, instant offer generation, and more.

Winner of the “Top Emerging Fintech Company” award at the 2023 Finovate Awards, Union Credit recently announced that it had integrated more than 50 credit unions into its marketplace in 2024. This represents more than 20,000 new members — 60% of whom were under the age of 40.

Photo by Tatiana Rodriguez on Unsplash

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Sage Capital Bank Partners with Digital Banking Solutions Provider Apiture

Sage Capital Bank Partners with Digital Banking Solutions Provider Apiture
By David Penn Posted on
Categories: Alumni News, Apiture
  • Texas-based Sage Capital Bank has partnered with digital banking solutions provider Apiture.
  • Courtesy of the partnership, Sage Capital Bank will deploy Apiture’s Consumer Banking, Business Banking, and Digital Account Opening solutions, as well as its Data Intelligence solution.
  • Headquartered in North Carolina, Apiture most recently demoed its technology at FinovateFall 2023.

Sage Capital Bank, an independent, Texas-based community financial institution, has chosen digital banking solutions provider Apiture to power its online and mobile banking services. The bank will deploy Apiture’s Consumer Banking, Business Banking, and Digital Account Opening solutions and enhance the online and mobile experience for its customers with a modern, intuitive user interface and comprehensive feature set.

The bank will also take advantage of Apiture’s Data Intelligence solution that will enable Sage Capital to offer highly personalized experiences to customers via digital channels to enhance customer satisfaction and engagement.

“At Sage Capital, we recognize that our consumer and business customers are on-the-go and expect banking services that let them bank anytime, anywhere,” Sage Capital EVP and CTO Gene Stroman said. “With Apiture as our partner, we will elevate their digital banking experience through capabilities like peer-to-peer payments, real-time fraud detection, robust business entitlements, and Positive Pay. We are thrilled to work with this forward-thinking solution provider.”

Chartered as American National Bank in 1984 by a team of business owners from Gonzales, Texas, Sage Capital Bank today has $700 million in assets. The bank has branches in eight cities in Texas including Lockhart — where the bank opened its first branch in 1995 — and Austin.

“Apiture and Sage Capital share a commitment to both partnership and innovation, and we are eager to support the bank’s digital evolution and growth objectives,” Apiture CEO Chris Babcock said. “By choosing our comprehensive platform, Sage Capital can deliver a banking experience tailored to its community’s unique needs while delivering the very latest in digital innovation.”

Apiture most recently demoed its technology at FinovateFall 2023. At the conference, Apiture showed how its Sensei solution leverages AI to produce a real-time assessment of a customer’s financial circumstances and provide proactive recommendations customers can follow in order to improve their financial standing. Sensei analyzes data — including transaction history, account balances, and engagement metrics — to help banks and credit unions build better, more personalized relationships with their customers and members.

Founded in 2017, Apiture is headquartered in Wilmington, North Carolina. The company’s partnership announcement with Sage Capital Bank comes one month after Apiture announced a strategic partnership with data-driven statement provider HC3. The partnership will empower Apiture’s community bank and credit union customers to provide account holders with secure, immediate access to digital statements, powered by HC3, directly from their online and mobile banking channels.

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FinGoal and DeepTarget Team Up to Transform Data into Insights and Insights into Revenue

FinGoal and DeepTarget Team Up to Transform Data into Insights and Insights into Revenue
By David Penn Posted on
Categories: Alumni News, DeepTarget, FinGoal
  • FinGoal and DeepTarget have teamed up to enable community banks and credit unions to convert transaction data into actionable insights.
  • FinGoal for DeepTarget will help financial institutions deliver personalization at scale, identify new sales opportunities, and deepen relationships with customers and members.
  • DeepTarget made its Finovate debut at FinovateWest 2020. FinGoal won Best of Show in its appearance at FinovateSpring 2022.

A newly announced partnership between FinGoal and DeepTarget will help community banks and credit unions convert transaction data into actionable insights and potential revenue opportunities. FinGoal’s advanced transaction analysis combined with DeepTarget’s AI-powered, personalized engagement platform will enable financial institutions to create highly personalized product recommendations and offers that are targeted to reach the right customers at the right time.

Called FinGoal for DeepTarget, the new offering turns raw transactions into revenue opportunities, delivers deep personalization at scale, automates the targeting and personalization process, and provides continuous tracking of performance metrics to improve targeting and refine campaign effectiveness.

“Banks and credit unions know they need to compete on personalization, but they’ve been missing the tools to do it effectively,” FinGoal CEO David Nohe said. “Our partnership with DeepTarget bridges that gap. We turn complex transaction data into clear growth opportunities with existing customers, and DeepTarget turns those insights into targeted campaigns that drive results. Together, we’re helping financial institutions deliver the kind of personalized experience that builds lasting customer relationships and sustainable growth.”

The partnership is designed to help community banks and credit unions take advantage of what DeepTarget CEO Preetha Pulusani referred to as a “goldmine of transaction data.” Traditionally, financial institutions have lacked the resources to analyze customer spending patterns and life events that can hold clues to emerging consumer needs and preferences. Moreover, these institutions often have struggled to act effectively and efficiently on the customer information and data they have been able to analyze. Solving this problem will enable community banks and credit unions to reach out to a customer who may need financial assistance for a home improvement, for example, or identify a small business owner whose cash flow indicates a potential for significant expansion.

“By combining FinGoal’s advanced transaction intelligence with our AI-driven engagement platform, we’re giving banks and credit unions the power to spot opportunities in everyday transactions and automatically turn those insights into personalized offers that drive real revenue growth,” Pulusani said. “This isn’t just about better marketing — it’s about fundamentally transforming how financial institutions understand and serve their customers.”

Headquartered in Madison, Alabama, DeepTarget made its Finovate debut at our all-digital fintech conference FinovateWest 2020. At the event, the company demonstrated its 3D StoryTeller feature, which brings a 3D user experience to its Digital Experience Platform. DeepTarget’s Digital Experience Platform readily integrates across all digital channels enabling financial institutions to intelligently reach their customers from thousands of customer touchpoints. Companies using DeepTarget’s technology have reported 40x increases over industry standard response rates, 25% revenue growth, and ROI of as much as 5x.

FinGoal won Best of Show at FinovateSpring 2022 for its Aggregator Switchkit that makes it easy for fintech developers to quickly transition from their current data aggregator to FinGoal’s insights platform. FinGoal’s platform sits on top of digital banking and finance data, turning transaction data into highly detailed user personas that help financial institutions make more relevant and engaging recommendations and calls to action for their customers and members.

FinGoal’s partnership with DeepTarget comes one month after the company announced that it was working with Lumin Digital. Courtesy of the agreement, Lumin Digital’s financial institution clients will be able to access data-driven insights from FinGoal to create personalized offers for their end users.

Photo by RF._.studio

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Transcard Brings its Payment Orchestration Capabilities to Canada

Transcard Brings its Payment Orchestration Capabilities to Canada
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, TransCard
  • Tennessee-based Transcard is expanding to Canada.
  • Transcard has partnered with Xodus Travel Services to enhance digital payment experiences with its SMART Suite platform.
  • The expansion into Canada comes a month after Transcard earned authorization from the U.K. Financial Conduct Authority (FCA) to serve as a payment institution in the U.K. 

Tennessee-based Transcard is bringing its payment orchestration capabilities north of the border this week. The company recently went live with its first Canada-based customer, Xodus Travel Services. Xodus is leveraging Transcard’s SMART Suite to facilitate payment orchestration and enhance its digital payment experience.

“We’re excited to partner with Transcard as they expand their payment solutions in Canada,” said Xodus President and CEO David Rivelis. “By enabling their fast, secure, digital payment solutions, Xodus Travel Services will offer policyholders an improved claims experience with payment optionality and real time payment options.”

Transcard’s SMART Suite offers a range of tools to help banks, businesses, and fintechs make and receive digital payments and share payment data with their customers and suppliers. The embedded payment capabilities facilitate any payment type over any payment rail using any originating bank account. They work for both single and mass payments and can take place in real-time or be scheduled.

Transcard supports international payments across multiple currencies and languages, including Canadian French. Its solutions are designed to comply with global regulations, such as GDPR, RPAA, and PIPEDA, ensuring robust data protection standards.

“Launching in Canada marks a significant milestone in the company’s mission to enhance digital payment solutions worldwide,” said Transcard CEO Greg Bloh. “We’re excited to expand our capabilities, build more strategic partnerships and support customers in Canada.”

Transcard said that it plans to go live with more Canadian bank connections later this year. The company will also introduce real-time payment options including the Interac payment rail, virtual card capabilities, and push to debit.

Today’s news comes about a month after Transcard was granted authorization by the U.K. Financial Conduct Authority (FCA) to serve as a payment institution in the U.K. 

Transcard was founded in 2012 and debuted a payments disbursement capability, Panuver, at FinovateSpring 2016. The company, which serves more than 500 companies with over 50 separate payment functions, offers solutions that combine multi-rail capabilities, embedded workflows, system of record integration, and reconciliation to support both B2B and B2C payments.

Photo by Andre Furtado

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LogicMonitor Partners with Operational Resilience Solutions Provider Gieom

LogicMonitor Partners with Operational Resilience Solutions Provider Gieom
By David Penn Posted on
Categories: Alumni News, GIEOM Business Solutions
  • LogicMonitor announced a partnership with operational resilience solutions provider Gieom.
  • The collaboration will enable the two companies to help financial institutions prepare for emerging regulations governing operational resilience.
  • India-based Gieom made its Finovate debut at FinovateAsia 2016 in Hong Kong.

SaaS-based hybrid observability platform LogicMonitor has forged a strategic partnership with operational resilience solutions provider Gieom. The combination of Gieom’s Operational Resilience Platform and LogicMonitor’s LM Envision solution will help financial institutions meet emerging regulatory requirements, including both the EU’s Digital Operational Resilience Act (DORA) and the FCA Operational Resilience Requirements.

“At Gieom, we’ve always believed in the importance of holistic operational resilience,” Gieom CTO Bhavana Mallesh said. “Partnering with LogicMonitor allows us to extend our capabilities and offer clients a truly integrated, end-to-end solution. This collaboration ensures financial institutions can meet regulatory demands while optimizing their operations.”

Operational resilience is an increasingly important concern for financial services companies. New regulations, such as DORA, will require these businesses to adopt a more holistic approach to detecting and mitigating risks across systems and in third-party relationships. To this end, the strategic partnership between LogicMonitor and Gieom will enable them to provide financial institutions with proactive compliance by way of real-time monitoring and observability, AI-driven efficiencies including predictive analytics and automation, enhanced visibility via a unified platform, and scalable tools to help manage third-party risks.

“Financial institutions are under immense pressure to modernize and comply with stringent regulations like DORA, and this partnership provides them with the tools to succeed,” LogicMonitor General Manager, EMEA Matt Tuson said. “Together with Gieom, we’re delivering a seamless, AI-powered solution that enhances resilience, reduces risk, and drives value across the industry so institutions can stay ahead of regulatory demands, strengthen operational efficiency, and build trust with customers in an ever-evolving landscape.”

LogicMonitor provides AI-powered, hybrid observability, giving companies operational visibility and predictability across both on-premises and multi-cloud environments. Headquartered in Santa Barbara, California, and founded in 2007, the company raised $800 million in strategic funding late last year at a valuation of $2.4 billion. Christina Kosmowski is the company’s CEO.

Founded in 2012 and headquartered in Bangalore, India, Gieom made its Finovate debut at FinovateAsia 2016 in Hong Kong. The company builds software that empowers companies to better manage their policies and standard operating procedures, streamline digital identity verification processes, manage risk, and adopt an operational resilience framework. Gieom’s technology is used by more than 90 banks around the world, including World Bank, Bank of England, and the State Bank of India.

Most recently, Gieom announced a partnership with Al Ahli Bank of Kuwait (ABK) to create a centralized platform for the digital management of policies and procedures that govern the bank’s operations. At the same time, Gieom teamed up with Kuwait Finance House (KFH) to help the institution similarly centralize and streamline its policy and procedure management.

“KFH is setting a benchmark for the region, leveraging technology to enhance compliance, governance, and customer service,” Gieom CEO John Santhosh said when the partnership was announced last fall. “This collaboration will contribute to KFH’s operational resilience and customer-centric approach.”

Photo by Umar Andrabi

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doxo Launches doxoBILLS to Further Facilitate Consumer Billpay

doxo Launches doxoBILLS to Further Facilitate Consumer Billpay
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Doxo
  • doxo launched doxoBILLS, a new platform that combines six key features to help consumers manage household finances more effectively.
  • Among the new tools are all-in-one bill pay, real-time bank balance insights, credit score protection, $1 million in identity theft protection, and utility usage tracking.
  • While doxoBILLS offers standard features for free, premium options like identity theft protection and overdraft safeguards are available through the doxoPLUS subscription, priced at $5.99 per month.

Online billpay fintech doxo released its latest tool to help consumers stay on top of their household finances. The Seattle-based company launched doxoBILLS today, a single platform that offers six key features that aim to give consumers insight into and control of all of their household bills in a single place.

“We’re proud to introduce doxoBILLS, the next generation of our all-in-one bill pay product. doxoBILLS is the first and only solution to incorporate all six essential elements of paying bills into one simple and safe platform,” said doxo CEO and Co-Founder Steve Shivers. “This is a huge step for our continued mission to empower consumers in organizing and paying their household bills, which represent the most fundamental financial obligations of every American household. Legacy bill pay systems are fragmented – almost always organized around individual billers or individual financial institutions – but doxoBILLS puts the consumer in the driver’s seat, enabling a simple view of all bills and due dates, the ability to pay any bill with any financial institution, and integrates essential financial protections to improve credit, help reduce late fees and overdraft fees, and protect online security.”

doxoBILLS is built on doxo’s Bill Pay Operating System (Bill Pay OS), the company’s flagship service that enables payment management. doxoBILLS adds to this capability by bringing together not only all-in-one billpay, but also a wallet that keeps customers’ payment credentials hidden from billers, a bank balance feature that helps mitigate bank overdrafts by showing the consumer their current account balance in real time, credit score insight and protection, $1 million in identity theft protection, and utility usage insights.

Users can access doxoBILLS on the doxo mobile app and website. doxo offers its standard benefits for free, including the ability to pay any bill for free with a linked bank account. Users seeking premium features, such as identity theft protection, credit score protection, and overdraft protection, can sign up for a doxoPLUS subscription, which currently costs $5.99 per month (plus tax, where applicable).

Founded in 2008, doxo allows U.S. consumers a single place to pay over 120,000 billers using a standard checkout and secure payment experience. doxo leverages Plaid to securely access the consumer’s bank account, a feature that allows users to keep their account data secure. To date, 10 million people have used doxo’s billpay experience.

The new doxoBILLS product creates a recurring revenue stream for the company while also giving users more reasons to engage with their accounts. Features like identity protection and credit score monitoring will encourage existing users to log in more often and attract new users to the platform.

Photo by Mikhail Nilov

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Lumin Digital Teams Up with FINBOA to Enhance Dispute Management

Lumin Digital Teams Up with FINBOA to Enhance Dispute Management
By David Penn Posted on
Categories: Alumni News, FINBOA
  • Digital banking provider Lumin Digital has turned to process automation provider FINBOA for enhanced dispute management.
  • FINBOA’s technology has produced up to a 90% reduction in dispute intake effort and up to an 80% reduction in audit prep time.
  • Headquartered in Houston, Texas, FINBOA made its Finovate debut at our all-digital conference in the spring of 2021.

Process automation provider FINBOA has teamed up with digital banking provider Lumin Digital to enhance the company’s dispute management operations. This will give Lumin Digital’s financial institution clients the ability to expedite their payment disputes and facilitate faster resolutions.

“As a company dedicated to enhancing the digital banking experience for financial institutions and their customers, we are thrilled to be partnering with the FINBOA team, which is actively solving the painful process of manual dispute resolution,” Lumin Digital Chief Product Officer Sean Weadock said. “This partnership is an exciting step that adds another innovative integration and showcases the flexibility of the Lumin Digital platform.”

Lumin Digital offers digital solutions for retail banking, commercial banking, and account opening to help financial institutions better maximize efficiency and engage customers and members. The company’s platform combines native microservices with cloud technology to give banks and credit unions the ability to deploy new solutions that scale independently and enable them to grow and evolve as volume grows. Founded in 2016 and headquartered in San Ramon, California, Lumin ended last year with $160 million in growth equity financing in a round co-led by NewView Capital, Light Street Capital, and Partners Group.

The alliance between Lumin Digital and FINBOA comes as growing payment dispute volumes are putting a strain on manual, paper-based dispute resolution processes, as well as on non-integrated systems. This potentially leads to more errors, greater risk, and even missed compliance deadlines. To this end, FINBOA’s technology digitizes and automates compliance and decision processes to provide better account holder servicing and lower regulatory risk. The company notes that institutions using its technology have enjoyed a reduction in dispute intake effort of up to 90%, a reduction in audit prep time of 80%, and an average 25% reduction in claim-related write-offs and losses.

“The partnership with Lumin Digital is a win-win for our mutual financial institutions as they face increasing volumes of payment disputes and stringent requirements with tight response timelines,” FINBOA Founder and CEO Raj Singal said. “We are delighted to offer a paperless payment dispute process integrated with Lumin Digital’s online banking services.”

Founded in 2016 and based in Houston, Texas, FINBOA made its Finovate debut at our all-digital conference in the spring of 2021. At the event, FINBOA demonstrated its Workplace Compliance Automation Platform, which provides centralized data management, automated timeline notifications, customized letters, digital signatures, workflow configuration, GL integrations with core, robotic automations, and compliance rules. A 2024 Finovate Award finalist in the “Best Back-Office/Core Services Solution” category, and a member of the 2024 Inc. 5000, FINBOA counts more than 200 banks and credit unions among its customers.

Photo by Nate Hovee

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TransUnion to Buy Credit Eligibility and Distribution Platform Monevo

TransUnion to Buy Credit Eligibility and Distribution Platform Monevo
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, TransUnion
  • TransUnion will acquire credit eligibility and distribution platform Monevo, expanding its capabilities in credit prequalification and personalized credit offers.
  • Financial terms of the deal were not disclosed.
  • TransUnion originally acquired a 30% stake in Monevo in 2021 and will acquire the remaining ownership position from Monevo’s majority stakeholder, Quint Group Limited.

Credit protection platform TransUnion announced it will acquire credit eligibility and distribution platform Monevo. Terms of the deal, which is expected to close by the second quarter of this year, were not disclosed.

U.K.-based Monevo was founded in 2008 to help comparison websites and online publishers embed personalized credit offers into their websites. It also works with more than 150 banks and credit providers worldwide, using centralized technology to connect lenders with publishers. This lets consumers see their chances of being approved for credit products before applying, which helps them save time and protect their credit scores from unnecessary checks.

“I founded Monevo to improve access to credit for consumers through technology, and today it is powering credit distribution for some of the world’s largest banks and lenders,” said Quint Group and Monevo CEO Greg Cox. “This acquisition is the natural next step in Monevo’s future growth and success, and would unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned.”

In October 2021, TransUnion formed a strategic partnership with Monevo, acquiring a 30% stake in the company. Today, TransUnion has agreed to acquire the remaining ownership position from Monevo’s majority stakeholder, Quint Group Limited.

“Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we plan to deliver high-quality offers at scale with minimal support needed from our partners,” said TransUnion President, U.S. Markets Steve Chaouki. “Additionally, we continue to make good progress on broadening our value proposition and go-to-market strategy in the direct-to-consumer business and expect to have more to share in the coming quarters.”

Today’s acquisition enables TransUnion to enhance its credit prequalification and distribution capabilities. By integrating Monevo’s technology, TransUnion will connect its lender clients with consumers through more personalized credit offers. This partnership strengthens TransUnion’s ability to serve both lenders and consumers, streamline customer acquisition for financial institutions, and empower consumers to make informed borrowing decisions with minimal impact on their credit scores.

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Earnix Teams Up with Tokio Marine North America Services

Earnix Teams Up with Tokio Marine North America Services
By David Penn Posted on
Categories: Alumni News, Earnix
  • Customer analytics software solution provider for financial services companies Earnix announced a partnership with Tokio Marine North America Services (TMNAS).
  • Headquartered in Pennsylvania, Tokio Marine North America Services is a division of Tokyo, Japan-based Tokio Marine Group.
  • Earnix made its Finovate debut at FinovateSpring 2016 in San Jose, California.

Here’s some news from a Finovate alum we haven’t heard from in a little while: customer analytics solution provider Earnix has teamed up with Tokio Marine North America Services (TMNAS). Earnix will help the company — a division of Tokyo, Japan’s Tokio Marine Group — develop a centralized rate repository with access to sophisticated pricing and rating strategies. This will provide Tokio — one of the leading commercial insurance providers in the U.S. — with a single source of truth for pricing, rating, and filing, helping reduce errors and better manage risk, and enabling fast time-to-market for the business TMNAS does on behalf of its clients.

“Insurers want to — and must — innovate. The key when choosing new solutions is to select those that address the operation as a whole,” TMNAS EVP and CIO Robert Pick said. “Earnix integrates seamlessly across the entire tech stack and provides the agility to futureproof our businesses regardless of market or regulatory changes.”

Founded in 2001 and maintaining headquarters in both Tel Aviv, Israel, and Westport, Connecticut, Earnix made its Finovate debut at FinovateSpring 2016 in San Jose, California. In the years since then, Earnix has grown into a major provider of cloud-based, intelligent solutions for pricing, rating, underwriting, and product personalization in financial services. With customers in more than 35 countries across six continents, Earnix helps insurers and banks around the world achieve “ultra-fast” ROI and unlock value across their operations.

In addition to its partnership news with Tokio, Earnix also announced in December that it would work with Kingstone Insurance to enhance the property and casualty insurance holding company’s pricing capabilities and support its strategic growth. This week, Earnix reported that it had joined the Managing General Agents’ Association (MGAA) as a Supplier Member. MGAA represents more than 400 Managing General Agents (MGAs) in the U.K. and the Republic of Ireland.

“MGAs are key players in the insurance industry, and they require robust, reliable, and compliant technology solutions to succeed in an increasingly complex market,” Earnix CEO Robin Gilthorpe said. “Earnix looks forward to contributing to the MGA community by offering solutions that empower MGAs to drive smarter, data-driven decisions and thrive in an increasingly digital-first insurance ecosystem.”

Photo by Aleksandar Pasaric

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Eltropy Acquires Collections Technology Provider Lexop

Eltropy Acquires Collections Technology Provider Lexop
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Eltropy, Mergers & Acquisitions
  • Eltropy has acquired collections technology provider Lexop for an undisclosed amount.
  • Eltropy will integrate its AI-powered communication solution with Lexop’s compassionate debt resolution technology to help community financial institutions streamline collections, reduce delinquencies, and improve borrower experiences.
  • The combination of Lexop’s self-service payment portal and Eltropy’s communication platform will allow borrowers to easily make payments while enabling lenders to recover debts faster.

Unified conversations platform Eltropy unveiled yesterday that it has acquired collections technology provider Lexop. Financial terms of the deal were not disclosed.

Eltropy envisions that by combining Lexop’s collections technology with its own AI-powered communications platform, it can help to modernize debt repayment and collections processes. Ultimately, bringing the two technologies together will help community financial institutions (CFIs) reduce and prevent delinquencies, collect faster, and enhance the user experience for borrowers.

“The world needs a better way for people to pay their debt obligations. Today’s phone-call-driven experiences are extremely inconvenient for the borrower, making it difficult for CFIs to collect debt payments on time,” said Eltropy CEO and Co-Founder Ashish Garg. “By combining Lexop’s people-first collections technology with our AI-driven communications platform, we’re delivering an offering that increases effectiveness with empathy.”

Canada-based Lexop was founded in 2016 to offer a compassionate debt resolution platform for credit unions. The technology automates text, email, and voice payment reminders that meet members in their preferred digital channels. With the collections platform, lenders can allow their members to make payments through a self-service payment portal that is integrated into the lender’s existing website and available 24/7. Eltropy will leverage this self-serve solution to allow its CFI clients to easily make payments with two clicks, helping to prevent avoidable delinquency.

“We built Lexop to create a better past-due member experience,” said Lexop CEO and Co-founder Amir Tajkarimi. “By joining Eltropy, we are reinventing loan repayment and collections, helping credit unions and community banks improve recovery rates while preserving relationships with their members. We have been watching Eltropy take the CFI world by storm and could not be more excited to join hands.”

Today’s deal marks Eltropy’s third acquisition after purchasing POPi/o and Marsview.ai in 2022. Logistically, Eltropy will continue to operate out of its headquarters in Santa Clara, California and Lexop will continue its operations in its headquarters location of Montreal, Quebec.

Eltropy serves over 650 credit unions and community banks in North America with communications solutions that aim to help firms mitigate fraud, grow deposits, facilitate payment reminders, streamline mergers and acquisitions, and more. Since launching in 2013, Eltropy has helped power more than 200 million conversations. The company demoed Eltropy One, its all-in-one omni-channel communication solution, at FinovateFall 2022.

Photo by Tara Winstead

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Axway to Bring Open Banking to Regions Bank

Axway to Bring Open Banking to Regions Bank
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Axway
  • Regions Bank has selected Axway to implement open banking.
  • Regions will use Axway’s Amplify Open Banking solution to enable secure, API-based data sharing for its consumer, corporate, and wealth management clients.
  • With the CFPB’s 1033 rule on the horizon, Regions is getting a head start on compliance, emphasizing customer education and consent management.

Enterprise data integration company Axway announced it is sharing its “open everything” mentality with Regions Bank. The Alabama-based bank has selected Axway to bring open banking capabilities to Regions’ consumer banking, corporate banking, and wealth management customers.

Regions will be using Axway’s Amplify Open Banking solution. Built on Amplify’s API Management Platform, the Amplify Open Banking solution helps firms simplify compliance and integration with its low-code/no-code capabilities that speed up time to deployment.

When the implementation is finalized, Regions will allow its corporate banking clients to leverage Amplify’s Marketplace feature to connect their Regions financial data via APIs. Additionally, the bank’s consumer banking and wealth management clients will be able to select which third parties they’d like to share their financial data with in a process that will remove the need for third-party platforms to save their banking credentials on their own systems. Ultimately, Regions will benefit from a more secure connection between the customer’s bank account and third party platforms.

“At Regions, our focus is on serving customers when and where they want,” said Regions Bank Emerging and Digital Payments Group Manager Tim Mills. “As customers continue to grant access to their financial data to third party applications, this new solution will help capture customer consent, remove the need for credential sharing to third parties, and provide another layer of security to protect customer data. Open banking is the future, and we are pleased to work with Axway to make banking easy for customers who turn to Regions time and again for their banking needs.”

Open banking has become a hot topic in the U.S., now that the Consumer Financial Protection Bureau has formally issued its 1033 rule that will mandate banks to participate in open banking. Partnering with Axway will offer Regions a head start on the bank’s required adoption date of April 1, 2027. Select smaller firms have until 2030 to comply.

Through Amplify, which is projected to launch in the coming years, Regions customers will receive a one-time prompt from the third-party platforms they use that will reenter information on their accounts.

“We are excited to extend our work with Regions to help provide secure, standardized access to data,” said Axway Vice President for Financial Services and Open Banking Tom Hogan. “This allows their customers to benefit more from the expanding ecosystem of next generation fintechs and third-party data providers.”

Regions also mentioned in today’s release that it will provide educational materials through multiple channels in order to inform customers on the launch. Given that one of the biggest hurdles in open banking adoption is consumer trust, Regions’ proactive approach to educating its customers and offering a consent management portal demonstrates that the bank understands this challenge. By empowering customers with tools to manage their data access, Regions is not only ensuring compliance but is also building the trust necessary for open banking to thrive.

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