Alumni News Archives - Page 67 of 91

TickSmith Raises $20 Million in New Funding for its Enterprise Data Web Store

By David Penn Posted on February 1, 2022
Categories: Alumni News, Alumni profile, Funding, TickSmith

Canadian fintech TickSmith is ringing in the new year with $20 million in Series A funding. The company will use the additional capital to support marketing of its Data Web Store, a B2B SaaS platform that enables organizations and institutions to generate new revenue streams based on their data.

“Data monetization is no longer limited to large enterprises,” TickSmith CEO Francis Wenzel said. “Selling data should be as simple as selling products in an e-commerce store, and data sellers of all sizes can now benefit from the same tools that power the largest, most robust data marketplaces in the world.”

The Series A was led by Investissement Québec, and featured participation from Fonds de solidarité FTQ, CME Ventures, Databricks Ventures, Anges Québec, Anges Québec Capital, and Illuminate Financial Management. The investment gives the company a total capital of $26.8 million, according to Crunchbase.

Founded in 2012, headquartered in Montreal, Québec, and making its Finovate debut two years later at FinovateFall 2014, TickSmith offers a platform that gives firms the technology they need to prepare, manage, package, and monetize data via private marketplaces. With customers in industries ranging from financial institutions and data providers to exchanges and brokerages, TickSmith helps organizations take advantage of a new world of data types – including alternative data and unstructured data.

The company’s technology also empowers them to enhance and refine existing data, enabling them to offer granular, micro-data services. This, as TickSmith Head of Product Nicolas Doyen, explained in a recent blog post, is allowing data providers to “(offer) more control to the ultimate consumers of their information services.” He added that this “modern approach to the data buying process” not only gives more control to the end-user, but also can help reduce the costs of data by “circumventing the data packaging approach used by traditional data suppliers.”

TickSmith ended 2021 with a collaboration with international cryptocurrency and digital asset technology company BlockFills. Earlier this month, TickSmith announced that IPOhub will use TickSmith’s Data Web Store platform to distribute and securely commercialize SME data from more than 3,000 companies and more than 100 different sources. A pan European investment information platform headquartered in Estonia and founded in 2017, IPOhub is also collaborating with TickSmith and market data specialist EOSE to help take IPOhub data on growth company IPOs to market.

“TickSmith’s technology is making it easy for us to offer our customers a personalized e-commerce data shopping experience with our very own data web store that showcases IPO and European SME data,” IPOhub CEO Silver Laus explained. “Their platform provides an end-to-end data monetization experience and helps us open up an entirely new channel to deliver data to our customers in just a few clicks.”

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HackerOne Scores $49 Million Investment to Advance Ethical Hacking as a Security Strategy

By David Penn Posted on January 31, 2022
Categories: Alumni News, Daily news, Funding, HackerOne

“White Hat” hacker-based security platform HackerOne – which demonstrated its bug bounty and vulnerability disclosure platform at our developers conference FinDEVr in London in 2017 – has secured $49 million in Series E funding. The round was led by GP Bullhound, and gives the San Francisco, California-based firm nearly $160 million in total funding. Benchmark, NEA, Dragoneer Investment Group, and Valor Equity Partners also participated in the investment. HackerOne will use the capital to support research and development and expand go-to-market operations.

“As attack surfaces grow, so does the gap between what digital assets organizations own and what they can protect,” HackerOne CEO Marten Mickos said. “HackerOne is closing that gap and keeping its customers out of harm’s way in a way that no other mechanism can accomplish.”

Mickos noted that HackerOne has identified more than 17,000 high or critical vulnerabilities for its customers over the past 12 months. He underscored 2021 as an especially challenging year, with the firm’s customers announcing a 97% increase in reports for misconfigurations. Additionally, Mickos said that a growing number of institutions are choosing ethical hackers – such as those provided by HackerOne – to defend their digital attack surfaces and help reveal potential vulnerabilities. Specifically, HackerOne has experienced increased adoption of its HackerOne Assessments, Application Pentest for AWS, which was launched in August, and expanded its Internet Bug Bounty program to include vulnerability management in the open source software supply chain.

HackerOne ended 2021 with the appointment of Chris Evans as Chief Information Security Officer (CISO). Evans brings years of digital security experience from tenures at Oracle Corporation, Tesla, and Google – where he founded the Google Chrome security team and Google Project Zero security research team – as well as Dropbox, where he was Head of Security.

“All software has security vulnerabilities,” Evans said in a statement. “The only way to outpace the cybercriminals is to enlist the help of external security researchers. Across every industry, we’re seeing the most innovative companies and CISOs embrace ethnical hackers to reduce risk.”

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Wealthfront Agrees to Acquisition by UBS

By David Penn Posted on January 27, 2022
Categories: Acquisition, Alumni News, Daily news, Mergers & Acquisitions, Wealthfront

In one of the first big fintech acquisitions of the year, Wealthfront has agreed to be acquired by global investment bank and financial services company UBS. Valued at $1.4 billion, the all-cash deal represents a premium of at least 2x on Wealthfront’s most recent private market valuations, and underscores UBS’s determination to attract younger, high net worth American investors.

In a blog post at the Wealthfront website, company CEO David Fortunato called the acquisition a “strategic partnership” that will enable Wealthfront to offer new services and give its customers access to “UBS’s industry-leading investing insights and research.” Fortunato praised UBS’s new CEO Ralph Hamers, who was appointed to the top spot in the fall of 2020, as a “digital native” who has put the digitization of the Swiss-based multinational firm at the top of his agenda. Fortunato noted that Wealthfront will continue to operate as a standalone business under its own brand after the acquisition.

“Rest assured that nothing will change with your account or the cost of our service,” Fortunato wrote to the company’s customers. “We will continue delivering great products and features to you, now at a much faster pace. And you’ll get access to even more research and insights that can empower you as an investor.”

Founded in 2008 – and making its Finovate debut as kaChing a year later – Wealthfront has grown into a leading online automated investing platform with $27 billion under management and more than 470,000 clients in the U.S. Earlier this month, the company announced a trio of updates to its Smart Beta service, a feature of the company’s U.S. Direct Indexing offering that helps investors optimize their allocations to individual stocks. Last fall, Wealthfront unveiled its Socially Responsible Portfolio, which leverages Modern Portfolio Theory to give investors the ability to put their money where their values are while still earning returns comparable to those available in its Classic Portfolio.

“Adding Wealthfront’s capabilities and client base to our global investment ecosystem will significantly boost our ability to grow our business in the U.S.” UBS’s Hamers said in a statement. “Wealthfront compliments our core business in the U.S. providing wealth management to high net worth and ultra high net worth investors through trusted relationships with financial advisors, and will enhance our long-term ambition to deliver a scalable, digital-led wealth management solution to affluent investors.”

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H&R Block Unveils Mobile Banking Platform Spruce Designed to Serve Low-to-Moderate Income Americans

By David Penn Posted on January 24, 2022
Categories: Alumni News, Daily news, HR Block

These days, who doesn’t want to be a bank? In recent months and years, we’ve seen industries from Big Tech to Big Retail offer a broader array of banking services. And now the trend has come to “Big Tax.”

H&R Block, which abandoned its banking charter seven years ago, is back in the banking business with a mobile banking platform called Spruce. The company’s new offering is designed to serve the needs of the millions of Americans who are struggling to better manage their spending, saving, and planning for the future. Spruce features a spending account and debit card, as well as a connected savings account that supports budgeting for specific goals.

“Spruce is a financial technology platform that combines the best features of leading neo-banks with H&R Block’s trusted brand, our 66-year history, and the insights we’ve gained from helping millions of customers every year,” H&R Block President and CEO Jeff Jones said. “Our front row seat on American life provides a unique understanding of how to help people get better with money, and we’ve applied those learnings to Spruce.”

In addition to helping users set and meet personalized savings goals, Spruce offers cash back rewards when customers use their Spruce debit cards to shop at qualifying merchants, and a fee-free environment with no monthly fees, no sign-up fees, and no minimum balance requirements. Spruce customers also have access to more than 55,000 ATMs around the country – also fee-free. Additional features include an early paycheck service, credit score monitoring, and overdraft protection. And, unsurprisingly given the business of its parent company, Spruce will also make it easy for users to apply part of their tax refund toward their savings goals.

Spruce’s savings and spending accounts are established at MetaBank, which also issues the Spruce debit card. The new banking services platform joins H&R Block’s other non-tax financial services solutions including its Emerald Prepaid Mastercard program, and its business bank account, payments, and bookkeeping solution Wave Money. Wave Money is a product of software solution provider Wave Financial, which was acquired by H&R Block in 2019.

“We believe in a future with equitable access to easy and affordable banking,” H&R Block Chief Financial Services Officer Les Whiting said. “Our customers already trust us with their most personal financial details when we help them file their taxes, and we created the Spruce solution to help address their unmet banking needs, too.”

The Spruce mobile app can be downloaded from the Apple Store and at Google Play. Users can open accounts via the app or at sprucemoney.com.

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Temenos Joins the Buy Now Pay Later Revolution with Explainable AI-Powered Offering

By David Penn Posted on January 20, 2022
Categories: Alumni News, Daily news, Temenos

Just when you might have thought that the momentum behind the Buy Now Pay Later phenomenon might be waning, banking software company Temenos announced today that it is launching its own BNPL offering.

Temenos brings its patented Explainable AI technology to the BNPL party with its Temenos BNPL. The company says that the new solution will give banks and fintechs new revenue opportunities, enable them to access new markets, and strengthen their relationships with both customers and merchants with its ethically-driven lending program.

“In an extremely competitive market, financial services providers need to evaluate new business models to drive revenue,” Temenos CEO Max Chuard explained. “As the strategic technology provider for over 3,000 banks worldwide, we are committed to empowering our clients to pioneer and adopt those new, profitable business models. Buy-Now-Pay-Later has shown the industry that we can come up with new solutions to old problems.”

Temenos BNPL brings transparency to the automated decision-making and credit offer-matching aspect of the Buy Now Pay Later process. Courtesy of embedded Explainable AI, the technology allows clients to pre-approve loan applications or offer variable installments in real-time, contingent on pre-determined criteria. The technology offers visibility into the credit decisioning and provides a recommended payment timetable during the application process so the borrower can be assured of being able to make the repayments as scheduled.

Temenos BNPL is core banking system agnostic – accessible via the Temenos Banking Cloud, which means that institutions and businesses can deploy the technology along with Temenos Transact or any other core banking system. In a statement, Temenos noted that one company – “a global payments provider” – went live with its own Temenos BNPL-based Buy Now Pay Later service and received 22 million loan applications in nine months. The product launch was reportedly the fastest and most successful in the company’s history. It was also especially popular with customers, 70% of whom are repeat users of the technology with 50% using the technology more than once within three months.

“(Buy Now Pay Later) has challenged the way we think about customer engagement, acquisition, and retention,” Chuard said. “We are very excited to launch this new solution to enable our clients to offer alternative financing that is fast, seamless, and scalable.”

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If You Can’t Beat Them, Join Them: SoFi Earns Bank Charter

By Julie Muhn (@julieschicktanz) Posted on January 19, 2022
Categories: Alumni News, Daily news, SoFi

Digital banking platform SoFi is leaving the ranks of its challenger banking competitors to become a fully fledged bank. The California-based fintech announced today it has received approval from the U.S. Office of the Comptroller of the Currency (OCC) and the Federal Reserve to become a bank holding company.

SoFi CEO Anthony Noto called today’s regulatory approval an “incredible milestone,” adding, “With a national bank charter, not only will we be able to lend at even more competitive interest rates and provide our members with high-yielding interest in checking and savings, it will also enhance our financial products and services to ensure they efficiently meet the needs of our members, business partners, and communities across the country, while continuing to uphold a high bar of regulatory standards and compliance. This important step allows us to add to our broad suite of financial products and services to better be there for our members during the major financial moments in their lives and all of the moments in between.”

The approval comes with one contingency. The OCC said that SoFi Bank may not engage in any crypto-asset activities or services. SoFi currently offers a crypto wallet and trading platform, but as it is held under SoFi Digital Assets, LLC, the OCC’s contingency shouldn’t be an issue.

This approval comes in the wake of SoFi’s proposed acquisition of Golden Pacific Bancorp, a Sacramento, California-based bank holding company with consolidated assets of $150 million. The deal, originally announced in March of last year, is set to close next month for $22.3 million.

After the acquisition closes, SoFi plans to maintain Golden Pacific’s community bank business and footprint, including its three physical branches. Additionally, SoFi will help Golden Pacific pursue its national, digital business plan by contributing $750 million in capital.

As with most digital banks, SoFi relied on partnerships with traditional banks to hold deposits, issue loans, and provide FDIC insurance. Until next month’s acquisition closes, SoFi’s partner banks include Bank United, National Association; MetaBank Sioux Falls, SD; HSBC Bank USA, National Association; EagleBank, Bethesda, MD; East West Bank, Pasadena, CA; TriState Bank Capital Bank, Pittsburgh, PA; and Wells Fargo Bank, N.A, Sioux Falls, SD.

SoFi Technologies will continue to be traded on the NASDAQ under the ticker SoFi, but it will become the parent company of SoFi Bank, National Association. SoFi was founded in 2011 and has a current market capitalization of $11.4 billion. The fintech went public last year after a SPAC merger with Social Capital Hedosophia Holdings V.

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Personetics Scores $85 Million in Growth Funding

By David Penn Posted on January 19, 2022
Categories: Alumni News, Daily news, Funding, Personetics

Courtesy of an investment from Thoma Bravo, personalization and customer-engagement solution provider for financial services companies Personetics has raised $85 million in growth funding. Updated valuation information was not disclosed.

Calling data-driven personalization and customer engagement “the battleground for financial institutions” worldwide, Personetics CEO and co-founder David Sosna said that banks and financial services providers are rightly moving toward a more proactive relationship with their customers. “Personetics provides financial institutions with the most comprehensive engagement platform on the market, enabling agility and differentiation with an agile delivery for quick business impact,” Sosna said.

Personetics’ technology boosts customer engagement by analyzing financial data in real-time, learning financial behaviors, anticipating needs, and then acting on the user’s behalf. The company’s enriched data, actionable insights, financial advice, and automated wellness solutions can be used by retail banks, small businesses, wealth management firms and others to increase digital customer engagement by as much as 35%, account and balance growth of 20%, and realize gains of 17% in the adoption of personalized recommendations and advice.

Making its Finovate debut in 2016 at FinovateEurope in London, Personetics raised more than $160 million in funding last year from investors including Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners, and Warburg Pincus. In the fall of 2021, the company announced a partnership with Europe-based financial services group KBC to increase customer engagement on the firm’s mobile app. Last spring, Personetics unveiled its patented, automated cash-flow based savings solution – Pay Yourself First – which has been integrated into U.S. Bank’s mobile app. Note that U.S. Bank won Best Customer Experience at the Finovate awards in 2019 for its mobile banking technology.

“Personetics’ PYF intelligent algorithms take the guesswork out of setting money aside for saving or investing and acts on behalf of customers,” Personetics President for Americas Jody Bhagat said. “It’s another example of how Personetics is helping financial institutions deliver hyper-personalized solutions for their customers, and bringing to reality its vision of Self-Driving Finance.”

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SpyCloud Unveils its Identity Risk Engine

By David Penn Posted on January 18, 2022
Categories: Alumni News, Alumni profile, Daily news, SpyCloud

FinovateFall Best of Show winner SpyCloud has launched its latest solution to combat online fraud. The SpyCloud Identity Risk Engine, unveiled this week, analyzes billions of data recaptured from the dark web to help businesses and financial institutions make faster, more accurate, real-time fraud mitigation decisions.

What’s unique about SpyCloud’s approach to fighting fraud is the company’s focus on identifying credentials that have been exposed during data breaches and are actively being traded in the criminal underground. These exposed credentials are sold to fraudsters on the black market or used by the hackers themselves to steal confidential information, access secure systems, or commit fraud. Because many of these sources of stolen credentials cannot be readily accessed by automated software tools or web crawlers, SpyCloud uses a combination of technical innovation and human intelligence to find and recapture data from online criminal communities. The company also gives businesses and financial institutions access to the kind of authentication systems that will help defend them against cyberattacks that leverage stolen credentials such as account takeover (ATO), identity fraud, and new account fraud.

With the release of its SpyCloud Identity Risk Engine, SpyCloud gives businesses in financial and ecommerce services actionable, predictive fraud risk assessments based on breach data and stolen credentials that have been recaptured from the dark web. The technology combats difficult-to-detect challenges including data harvested by malware and the use of synthetic identities. SpyCloud Identity Risk Engine also gives businesses insight into which customers have the highest risk of account takeover due to risk factors such as exposed credentials or weak password protocols.

Businesses place the Identity Risk Engine at their most critical points of potential fraud (i.e., at account opening, login, transactions, etc.). From there, all that is required is an API query using an email address or phone number. SpyCloud then scans billions of recaptured data points to deliver a risk score that enables businesses to make more accurate fraud decisions. SpyCloud has recaptured more than 145 billion breached assets, more than 30 billion email addresses, and more than 25 billion total passwords. The company’s technology collects 50+ breach sources every week.

Winner of Built In Austin’s Best Places to Work for a second year in a row, SpyCloud was founded in 2016 and made its Finovate debut one year later. The company was featured in Fast Company’s inaugural Next Big Things in Tech roster last fall and, in October, SpyCloud announced a partnership with Houston, Texas-based identity and access management solution provider Identity Automation to help schools fight ransomware threats.

“Preventing ransomware is possible by negating the top attack vector: credentials that have been exposed in data breaches,” SpyCloud SVP of Business Development Cassio Mello explained. “This service gives schools early identification of compromised accounts, enabling them to take action quickly and prevent cyber attacks that leverage recently-breached identity data.”

SpyCloud has raised $58.5 million in funding from investors including Centana Growth Partners, Microsoft’s Venture Fund M12, March Capital, and Silverton Partners. Ted Ross is co-founder and CEO.

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Mastercard Adds Two Partners to its Business Payments Service

By Julie Muhn (@julieschicktanz) Posted on January 14, 2022
Categories: Alumni News, Daily news, MasterCard

Yesterday, Mastercard unveiled two new clients for its Mastercard Track Business Payment Service. The New York-based payments giant announced that BMO and Moneris Solutions Corporation have joined Mastercard Track.

Mastercard launched the new service for Canadian businesses earlier this year. Mastercard Track creates efficiencies for business users by simplifying and automating the exchange of payments data between buyers and suppliers. The service seeks to modernize the $135 trillion B2B payments market.

“Current business payment processes often require manual reconciliation work that can be very labour intensive,” said Sasha Krstic, President of Mastercard in Canada. “The availability of Mastercard Track through our new partnerships with BMO and Moneris will help Canadian businesses gain freedom from an inefficient process by simplifying and automating the exchange of payments to make B2B payments work harder, faster and smarter.”

Using Mastercard Track will help BMO and Moneris modernize the business payments process for their customers. Ultimately, the service will free up working capital for businesses by offering them more control of their payments and helping them to optimize cash flow management.

Derek Vernon, Head of Payments Modernization of BMO’s North American Commercial Deposits and Corporate Card division said that the service “enhances the digital experience by offering a universal solution to simplify and automate B2B payments.” Specifically, Vernon noted that Mastercard Track will help reduce supplier friction and facilitate quicker speed-to-spend.

Mastercard is a public company listed on the New York Stock Exchange under the ticker MA. It has a market capitalization of $364 billion. Michael Miebach took the helm of the company as CEO in January of last year.

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Canada’s FundThrough to Acquire Invoice Factoring Business from BlueVine

By David Penn Posted on January 14, 2022
Categories: Alumni News, BlueVine, Daily news, Mergers & Acquisitions

BlueVine, an SME financing company that made its Finovate debut in 2014, announced this week that it is selling its invoice factoring business to Toronto, Canada-based FundThrough.

FundThrough noted that the deal is designed to accelerate both its commitment to embedded finance as well as fuel expansion plans for the U.S. market. Specifically, FundThrough believes the acquisition of its American rival will enable it to increase its U.S. clientele by 2x, boosting the number of customers in the States who use its technology to turn unpaid invoices into access to working capital.

“We are committed to helping small businesses grow and thrive – especially those who sell to large customers where long payment terms and a lack of financing options stand in the way of growing a business,” FundThrough co-founder and CEO Steven Uster said. “BlueVine was one of our biggest competitors in the U.S. market, and through this acquisition we can fulfill our mission on a much larger scale.”

With growth of more than 10x since its founding in 2014 and 3x growth over the past year, FundThrough has scaled to process more than $120 million in funding each month. The company’s AI-powered funding platform, along with its partnerships with companies like Intuit and Enverus, has enabled it to cut the standard amount of time it takes for SMEs to get their invoices paid by as much as 97%.

Invoice factoring was BlueVine’s founding business – and the centerpiece of the company’s 2014 Finovate presentation. The company has grown significantly since then, adding a range of new financing solutions for small businesses and giving the Redwood City, California-based fintech the ability to choose which area of small business financing it will focus on going forward.

“Since launching BlueVine, we’ve been focused on the financial needs of small businesses and are very proud of what we’ve been able to accomplish,” BlueVine co-founder and CEO Eyal Lifshitz said. “As we evolve our products and services, we continuously examine how we can better serve our customers at scale. We determined that FundThrough is perfectly positioned to serve our factoring clients with the care and individual attention they need and deserve. Our factoring clients will be in great hands with FundThrough.”

As part of the acquisition, BlueVine’s invoice funding division employees will join the FundThrough team. The transaction will enable BlueVine to focus on other elements of its business including its BlueVine Business Checking, Payments, and Line of Credit offerings. Since inception in 2014, the Redwood City, California-based fintech has helped SMEs access more than $14 billion in financing.

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TransUnion Brings Credit Data to Public Blockchain Networks

By Julie Muhn (@julieschicktanz) Posted on January 13, 2022
Categories: Alumni News, Daily news, TransUnion

Consumer credit reporting agency TransUnion is moving in the direction of Web3. The Illinois-based company announced this week it will bring off-chain consumer credit, identity, and compliance information to public blockchain networks.

The move is made possible via a partnership with Spring Labs, a company that offers decentralized infrastructure for credit and identity data. Spring Labs allows network participants, such as financial institutions, to share information about credit and identity data without needing to share the underlying data itself. Specifically, TransUnion will bring its VantageScore to Spring Labs’ ky0x Digital Passport, a tool that enables blockchain and smart contract applications to access off-chain data sources to create new, permission-controlled decentralized Web3 services and applications.

“We believe in the growth potential of DeFi,” said TransUnion President of U.S. Markets and Consumer Interactive Steve Chaouki. “Providing credit and identity data on-chain is a huge step towards improving the financial products available in the space. Working with Spring’s ky0x, we now have a solution for users to control and share their data on blockchain in a privacy-preserving way, enabling them to safely interact with a broader set of financial products.”

Transporting consumer credit data to the blockchain allows users to offer up information about themselves while maintaining privacy and anonymity of their identity. This secure data sharing allows users to access smart contract applications and helps DeFi and Web3 apps to scale.

Ultimately, the move should benefit both end users and lenders. By having their credit score available on-chain, users can receive better interest rates from DeFi lenders. Simultaneously, DeFi lenders can reduce their risk.

“Enabling access to an industry-standard, trusted credit risk score like VantageScore on-chain and in a consumer permissioned, anonymous way opens the door to greater growth and financial inclusion in the DeFi space,” said TransUnion SVP Consumer Lending Business Leader Liz Pagel. “Paired with ky0x’s AML and KYC capabilities, DeFi lenders can transact with confidence at lower rates, potentially paving the way for lending without the over-collateralization that is standard today.”

To be honest, there is a potential downside to this partnership. Traditional credit scores are prone to racial bias and have negative consequences for borrowers who have no established credit. By porting this imperfect risk underwriting model to the decentralized world, we may be doing ourselves a disservice.

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Community Banking Network CBANC Unveils New B2B Fintech Marketplace

By David Penn Posted on January 11, 2022
Categories: Alumni News, cbanc Network, Credit Unions, Daily news

CBANC, the biggest verified professional network for U.S. commercial banking institutions – and the professionals that run and work for them – announced the launch of its new platform this week. The CBANC Marketplace will host data and information on 1,000 products from more than 450 companies – all designed to meet the unique needs of small banks and credit unions.

“Over the past 10 years, CBANC has been a place for all financial professionals to connect and discover the information they need to succeed,” CBANC CEO Tom Ferries said. “Today, the speed of technological innovation is outpacing awareness, and community banks and credit unions need a place to discover what’s available for them and feel confident in their decisions.”

The CBANC Marketplace gives companies the ability to have their solutions accessed by a verified audience of community banking and credit union professionals. Both the CBANC Community and Marketplace are free for all employees of U.S. financial institutions, and there is no cost for fintechs and other companies that want to add their product or solution. For more information, and to request inclusion in the CBANC Marketplace, visit the network’s vendor hub.

Headquartered in Austin, Texas, and founded in 2009, CBANC benefits from the collective wisdom of more than 8,600 financial institutions with a combined total of more than $22 trillion in assets. The CBANC Community consists of 65,000 verified financial professionals representing more than 80% of all financial institutions in the United States. A unique opportunity to connect and collaborate with peers in the industry who are innovating in a wide range of technologies from AI to the blockchain to cryptocurrencies, the CBANC Network earned a spot on the 2020 Inc 5000 list of the fastest growing private companies in the U.S. Ferries, who took over at CEO days before the Inc 5000 announcement, credited CBANC’s three-year revenue growth of more than 6.5x for helping the organization secure the listing.

“Our strong revenue growth is a testament to the value we deliver to our Members and Partners,” Ferries said. “Look for new and exciting product launches later this year to continue our mission of helping our Members preserve the diversity of the American banking system.”

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