Alumni News

A Look into PayPal’s 6 New Releases

A Look into PayPal’s 6 New Releases
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, PayPal
  • PayPal CEO Alex Chriss released a video yesterday unveiling the company’s six new planned launches for the year.
  • PayPal’s new launches include a faster checkout experience, Fastlane, Smart Receipts, advanced offers, CashPass, and updated Venmo business profiles.
  • PayPal will release all of these in the U.S. this year and plans to roll them out across the globe in the future.

Yesterday, PayPal released an Apple-like launch video in which the company’s new CEO Alex Chriss unveiled six of the company’s newest initiatives. In the 17-minute video, which has already received 2.1 million views on YouTube, the payments company unveils the six new innovations it plans to bring to market this year.

Here’s a look at what PayPal expects to release this year:

Faster checkout

To help reduce cart abandonment at checkout, PayPal said it will accelerate the checkout process to get customers to choose PayPal and leverage passkeys to enable customers to log in with their face or fingerprint with one tap. The company says that the implementation of biometrics will not only reduce latency by as much as 50%, but it will also enable customers to check out twice as fast.

Fastlane

Fastlane by PayPal is the company’s new, one-click guest checkout tool that PayPal merchant clients can implement into their online checkout flow. When customers are ready to checkout, they are offered the option to save their information with Fastlane to check out in a single tap. With Fastlane, shoppers do not need to remember their username or password, nor do they have to update personal information or share their credit card credentials with each merchant.

PayPal partner BigCommerce has been piloting Fastlane with its merchant customers, and has reported that Fastlane can recognize 70% of guest checkout users.

Smart Receipts

Smart Receipts will leverage AI to help merchants show consumers personalized product suggestions along with a cashback reward offer on the receipt. When a consumer opens their email receipt– which 45% of PayPal customers do– they will see a new product recommendation at the bottom. The offers help merchants open the door to repeat purchases from customers they have already worked hard to acquire.

Advanced offers

Advanced offers shows consumers more relevant ads by showing them products based on the SKU data of their actual purchases, not just their browsing history. The advanced offers capability will also allow merchants to customize the offers. And PayPal will only change merchants based on performance, not just impressions or clicks.

On the consumer side, PayPal’s use of purchasing data means that they will see more relevant offers based on product details such as type and color. The company has also implemented privacy controls that allow users to opt out of data sharing.

CashPass

Launching this March, CashPass will offer consumers personalized cash back offers from top brands. To redeem an offer, users tap on the offer, shop at the business, and check out using PayPal. Shoppers can stack the savings with other rewards, such as the PayPal Cashback Mastercard.

PayPal’s CashPass launch partners include Best Buy, eBay, McDonald’s, Priceline, Ticketmaster, Uber, and Walmart.

Updated Venmo business profiles

Venmo first introduced business profiles in 2021 in an attempt to capture more revenue from small businesses using their personal Venmo account to accept payment. This year, Venmo will enhance business by allowing them to add subscribe buttons, offer promotions to consumers, and show profile rankings.

All of these updates will begin rolling out in the U.S. this year, though PayPal only offered more specific timing on CashPass, which it said will launch this March. The company also made note that it plans to launch all of these features in more geographies at some point.

Founded in 1998, PayPal handles nearly 25 billion transactions a year for nearly 400 million consumer accounts and 35 million merchants in more than 200 markets around the world. Despite the number of announcements, the market is reacting poorly to PayPal’s release this week. At the time of publishing, the company’s stock is down 0.12%.

Photo courtesy PayPal

Share this:

Send Post Twitter LinkedIn Facebook

Klarna Launches New Subscription Service– Is It Worth It?

Klarna Launches New Subscription Service– Is It Worth It?
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Klarna
  • Klarna launched Klarna Plus, a subscription tool that offers users premium benefits and access to exclusive offers.
  • For $7.99, users receive extra rewards points, a waived service fee for purchases made at retailers that are not in the fintech’s network, and exclusive discounts at retailers.
  • Klarna counts 150 million active users who make two million transactions every day using its platform.

The subscription economy has been gaining steam since Netflix was founded in 1997. With news this week that buy now, pay later (BNPL) player Klarna is jumping on board, it is apparent the subscription trend is not dying out any time soon.

Yesterday, the fintech unveiled Klarna Plus, the company’s subscription service for its U.S. users. For $7.99 per month, users receive premium benefits that offer Klarna shoppers access to a variety of offers and deals.

“Today marks an exciting milestone for Klarna with the introduction of our first-ever premium subscription service, Klarna Plus,” said Klarna Chief Marketing Officer David Sandstrom. “Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model. Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal U.S. consumers, while also further diversifying a portfolio of payment and shopping solutions.”

What do users receive for $7.99?

  • Rewards points
    Users accrue two rewards points for every $1 spent on purchases with Klarna Rewards Club. This is double the 1 point for every $1 spent that rewards club members traditionally receive.
  • Waived service fees
    The service fees that users incur at retailers outside of Klarna’s network are waived when they pay using their Klarna One Time Card.
  • Exclusive deals
    Users gain access to special discounts at retailers including Nike COACH, Macy’s, Instacart, and GOAT.
  • Sign-up offer
    Users receive $8 off their first Klarna Plus purchase.

Like all subscriptions, this one is only worth the price tag if the user actually uses the service. Here’s a breakdown of each incentive:

  • Rewards points
    The rewards points are valued at $0.02, and they can only be exchanged for gift cards at a limited number of brands, including Starbucks, Sephora, Foot Locker, and Uber. Receiving an extra point per dollar under Klarna Plus would require spending around $400 each month to make up for the $7.99 monthly fee.
  • Waived service fee
    As far as having the service fee waived, Klarna users face a $1 to $2 transaction fee when they make purchases outside of Klarna’s retailer network. This means users would need to transact at these outside retailers anywhere from four to seven times each month to make the monthly fee worth the cost.
  • Exclusive deals
    It is difficult to place a dollar number on the value of exclusive deals, since people have varying relationships with high-profile brands such as Nike and COACH. That said, this benefit may be the most effective in attracting users. Loyalty program members will receive monthly deals valued at $6 at five selected stores for a maximum benefit of $30 per month.
  • Sign-up offer
    For users who are not brand-forward, the more thrifty shoppers may be drawn in by Klarna’s $8 coupon. It is essentially allowing them to trial their first month for free.

Klarna has built up its shopping marketplace to compete with that of Amazon. The company works with more than half a million retail partners who list goods across a range of categories, including health, clothing, toys, beauty, photography, and more. Klarna counts 150 million shoppers– 40 million of which are U.S. based– who make two million transactions using its platform each day.

Klarna was founded in 2005 and has been transforming itself from strictly a BNPL company into a shopping ecosystem with goods from more than 500,000 retailers across the globe. Last year, the Sweden-based company extended its partnership with Adyen, announcing that it will leverage Adyen’s acquiring capabilities to power card payments for its end users.

Photo by Artem Beliaikin on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

1Kosmos Unveils its BlockID 1Key Solution for Mobile-Free Passwordless Authentication

1Kosmos Unveils its BlockID 1Key Solution for Mobile-Free Passwordless Authentication
By David Penn Posted on
Categories: 1Kosmos, Alumni News, Daily news
  • Identity and authentication platform 1Kosmos launched its BlockID 1Key solution this week.
  • BlockID 1Key is a biometric security key that provides passwordless multi-factor authentication for customer help desks, retail bank branches, and other environments deemed too sensitive to allow access to mobile devices.
  • 1Kosmos won Best of Show in its Finovate debut at FinovateSpring 2023.

Blockchain-powered identity and authentication platform 1Kosmos launched its BlockID 1Key solution this week. BlockID 1Key is a biometric security key that provides passwordless multi-factor authentication for Senstive Compartmented Information Facilities (SCIF). The phishing-resistant solution also works for manufacturing clean rooms, customer help desks, retail bank branches and other environments deemed too sensitive to allow access to mobile devices.

“Passwordless is extremely difficult and costly to deploy in environments such as call centers and manufacturing floors where mobile devices aren’t permitted or used,” 1Kosmos CEO Hemen Vimadalal said. “BlockID 1Key eliminates this roadblock and provides a phishing-resistant, scalable and interoperable passwordless experience for workers in dynamically assigned workspace settings – using a stationary, one-to-many FIDO-compliant key.”

BlockID 1Key enables organizations to verify identity at the initial access attempt and at every subsequent access attempt. This helps defend against attacks like phishing and vishing that exploit password vulnerabilities. The technology also secures the registered biometric to create an immutable chain of custody. Once secured, the biometric provides identity verification that is tamper-evident, and credentials that are phishing-resistant.

The technology is also suitable for workstation-independent contexts. BlockID 1Key’s register-once-use anywhere model lets users authenticate and work on any managed device. All they need is their username and a biometric fingerprint scan. The solution features support for Windows login as well, and is compatible with WebAuthn services and applications.

1Kosmos won Best of Show in its Finovate debut at FinovateSpring last year, and returned to the Finovate stage last September for FinovateFall. Headquartered in East Brunswick, New Jersey, 1Kosmos has raised $15 million in funding, according to Crunchbase. The company includes Gula Tech Adventures and Forgepoint Capital among its investors.

Photo by Alexander Grey

Share this:

Send Post Twitter LinkedIn Facebook

Tink Unveils Risk Signals to Help Prevent Fraud and Reduce Settlement Risk

Tink Unveils Risk Signals to Help Prevent Fraud and Reduce Settlement Risk
By David Penn Posted on
Categories: Alumni News, Daily news, Tink
  • Open banking company Tink has launched its new rules-based risk engine, Risk Signals.
  • Risk Signals leverages account, transaction, and payment data to help prevent fraud and lower settlement risk.
  • Tink won Best of Show in its Finovate debut at FinovateEurope 2014.

Open banking company Tink launched its new rules-based risk engine, Risk Signals this week. Risk Signals leverages account, transaction, and payment data to help prevent fraud and lower settlement risk.

“Risk Signals is an ideal fit for businesses looking to offer a secure and fast payment method especially in markets without real-time settlement – like Germany,” TInk SVP of Payments and Platforms Tom Pope explained. “With Tink’s Risk Signals, you no longer need to compromise between a fast checkout and reducing risk.”

Risk Signal features a suite of risk checks that are customizable to both financial institution and market. These risk checks include verifications of live balances to ensure a user’s ability to pay, transaction history review (including a review of previous non-settled payments), and velocity checks to identify suspicious transaction activity. Tink reports that firms such as payment service provider (PSP) Adyen are already using the solution. Additionally, the company said businesses have been able to fully implement Risk Signals within a week. In part, this is because Tink configures Risk Signals as a service, requiring no integration from the customer.

“By leveraging the real-time risk analysis during payment processes, Adyen can offer a payment option that not only ensures security and reliability but also aligns perfectly with both merchants’ and shoppers’ expectations,” Adyen Payment Partnerships Lead for Europe Dirk Jan Meijers said.

A two-time Finovate Best of Show winning company, Tink first won Best of Show in its Finovate debut at FinovateEurope in 2014. The Stockholm, Sweden-based company returned to the FinovateEurope stage three years later to take home its second Best of Show award.

In the years since, Tink has grown into an open banking leader. The company has 6,000+ connections to major banks in Europe, and 10,000 developers using its platform. Founded in 2012, Tink processes more than 10 billion transactions a year, and is active in 18 markets. The company was acquired by Visa in 2022 in a deal valued at $2.1. billion (€1.8 billion). Daniel Kjellén is CEO.

Interested in demoing at FinovateEurope in London next month? We are happy to read applications from innovative companies with new solutions that are ready to show. Visit our FinovateEurope hub today to learn more.

Photo by Allan Mas

Share this:

Send Post Twitter LinkedIn Facebook

Visa’s Cybersource and Ingenico to Create a Global Commerce Solution

Visa’s Cybersource and Ingenico to Create a Global Commerce Solution
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, VISA
  • Visa’s Cybersource is partnering with payment acceptance company Ingenico.
  • The two will leverage Ingenico’s Android-based AXIUM system, along with Cybersource’s open payment platform, to launch an all-in-one global commerce solution.
  • The aim of the new commerce solution is to reduce costs and complexities associated with technical integrations, increase speed to market, and provide omni-channel capabilities.

France-based payment acceptance company Ingenico announced it has partnered with Visa’s Cybersource. The two are leveraging Ingenico’s Android-based AXIUM system, combined with Cybersource’s open payment platform, to create a unified global commerce solution.  

Ingenico’s AXIUM offers a range of point-of-sale (POS) terminals, along with a suite of business applications. The new unified commerce solution will be available on all AXIUM devices, which will allow for an easy way to scale without having to go through a certification process for each new device.​

Cybersource, Visa’s agnostic global payment and fraud management platform, is part of Visa Acceptance Solutions, a connectivity hub that provides acquirers, independent software vendors, and merchants with access to what they need to create scalable commerce experiences. Crafting a global solution with real-time transaction visibility and data analytics helps acquirers focus on card clearance and settlement. Because the solution leverages both Ingenico’s and Cybersource’s ecosystems, it also allows acquirers to expand into new merchant segments.

“Combining the global reach of Visa and Ingenico and using the Ingenico Android technology stack, will accelerate innovation and reduce complexity,” said Ingenico Chief Customer Officer Nigel Lee. “We believe together we can reduce time to market for customers and allow our clients and partners to realise the benefits of a truly unified omnichannel solution. This is a significant step in our vision to move commerce forward by harnessing the collective strengths of our combined technologies and networks.”

Under today’s partnership, Cybersource will be able to provide a ready-to-use commerce solution that can authorize in-store card transactions across international borders. Ultimately, the two companies aim to use the new global commerce solution to reduce costs and complexities associated with technical integrations, increase speed to market, and provide omni-channel capabilities that suit both consumers and businesses.

Founded in 1980, Ingenico works with more than 1,000 banks and acquirers in more than 37 countries. With 4,000 employees, the company helps power 2,500 payment apps and 40 million terminals across the globe. Last year, Ingenico partnered with Fujitsu Frontech to launch a new solution that authenticates customer identities and facilitates payment using the palm of their hand for in-person transactions.

Photo by Andrea Piacquadio

Share this:

Send Post Twitter LinkedIn Facebook

MX Unveils Customer Analytics to Help Firms Leverage the Power of Financial Data

MX Unveils Customer Analytics to Help Firms Leverage the Power of Financial Data
By David Penn Posted on
Categories: Alumni News, Daily news, MX
  • Open finance company MX introduced Customer Analytics for financial services providers this week.
  • Customer Analytics leverages enhanced transaction data and actionable consumer insights to help financial services companies increase deposits and customer engagement.
  • Lehi, Utah-based MX is a multiple-time Finovate Best of Show winner.

Open finance innovator MX introduced Customer Analytics for financial services providers this week. The new offering uses enhanced transaction data and actionable consumer insights to enable financial services providers to grow deposits and boost engagement. Customer Analytics helps these firms spot opportunities for cross-selling and secure greater ROI on their marketing efforts. The technology also helps financial services companies better anticipate and mitigate customer churn.

“Financial services providers have a tough assignment when it comes to piecing together disparate data to truly understand their customers and meet their needs,” MX Chief Product Officer Nandita Gupta said. “MX’s Customer Analytics takes out the guesswork by providing actionable financial data intelligence in a single source.”

Customer Analytics provides a set of intelligent models, dashboards, and tools to analyze both consumer-permissioned and enhanced transaction data. These tools can be readily embedded into marketing platforms and CRMs to help organizations get a more holistic view of their customers’ finances. This helps financial services providers improve customer segmentation and conduct more effective marketing initiatives.

Since its Finovate debut in 2012 (as Money Desktop), MX has won Finovate’s Best of Show award eight times. The Lehi, Utah-based fintech helps financial services providers and other organizations connect and verify account and transaction data. This enables them to uncover insights that can lead to new revenue streams, as well as better, more personalized money experiences for consumers. Founded in 2010, MX most recently demoed its technology on the Finovate stage at FinovateFall in 2021. Jim Magats is CEO. Ryan Caldwell is Founder and Executive Chair.

Photo by Uva Rova

Share this:

Send Post Twitter LinkedIn Facebook

Onfido Unveils Compliance Suite to Enhance Customer Onboarding for Growing Businesses

Onfido Unveils Compliance Suite to Enhance Customer Onboarding for Growing Businesses
By David Penn Posted on
Categories: Alumni News, Alumni profile, Daily news, Onfido
  • Automated identity verification specialist Onfido announced the launch of its Compliance Suite.
  • The Compliance Suite features qualified electronic signatures, one-time passwords, and no-code compliance workflows.
  • Onfido made its Finovate debut at FinovateEurope 2018.

Automated identity verification specialist Onfido unveiled its Compliance Suite this week. The new offering helps companies meet the regulatory requirements for customer onboarding as they expand into new markets.

Compliance Suite brings qualified electronic signature (QES) and One-time Password (OTP) functionality, as well as no-code compliance workflows, to Onfido’s Real Identity Platform. QES offers a digital signature solution that relies on signals unique to the signer. The technology is also backed by a qualified digital certificate that provides a reliable way to confirm the identity of the individual associated with the signature.

Along with the company’s AI for fraud prevention and global document coverage, the result is a fully customizable identity verification solution that enables businesses to manage both local and global compliance needs under a single provider and control center. Compliance Suite has successfully passed its conformity assessment board checks and will be deployed by Onfido customers across Europe.

“Onfido’s Compliance Suite eases the regional compliance headache and delivers a one-stop-shop compliance offering that allows leaders to focus on their expansion, register customers faster, and remain agile to future regulatory demands,” Onfido Chief Product Officer Yuelin Li said. “With Compliance Suite, we now have the most comprehensive verification offering in the market, making Onfido the go-to scaling partner for globally trusted institutions.”

Onfido made its Finovate debut at FinovateEurope 2018 and returned to the Finovate stage later that year for FinovateFall. The announcement of Compliance Suite follows news last month that Onfido had teamed up with digital investment platform InbestMe. The partnership made InbestMe the first roboadvisor in Spain to integrate identity verification technology as part of its onboarding process.

Headquartered in London, Onfido has raised more than $182 million in funding, according to Crunchbase. Crane Venture Partners and TPG Growth are among the firm’s most recent investors. Mike Tuchen is CEO.

Interested in demoing at FinovateEurope in London next month? Applications are still being accepted from innovative companies with new solutions that are ready to show. Visit our FinovateEurope hub today to learn more.

Photo by Towfiqu barbhuiya on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Digital Conversations Platform Eltropy Enhances In-Branch Experience with Lobby Management

Digital Conversations Platform Eltropy Enhances In-Branch Experience with Lobby Management
By David Penn Posted on
Categories: Alumni News, Daily news, Eltropy
  • Digital conversations platform Eltropy has unveiled its Lobby Management solution.
  • The offering will help community financial institutions (CFIs) create better branch lobby experiences for customers and members.
  • Eltropy made its Finovate debut in 2017. The company most recently demoed at FinovateFall in 2022.

Digital conversations platform Eltropy launched its Lobby Management solution last week. The new capability will enable community financial institutions (CFIs) to offer a better branch lobby experience for their customers.

“The branch remains an essential member and customer touchpoint in community banks and credit unions, yet inefficient queues and resource allocation often undermine the experience for both visitors and employees,” Eltropy co-founder and CEO Ashish Garg said. “With Lobby Management, we can make every visit effortless while unlocking many operational efficiencies and equipping staff to serve members better.”

Lobby Management is a part of Eltropy’s Branch Management solution portfolio within its Unified Digital Conversations Platform. The new offering gives branch managers the ability to manage walk-in customer flow, and to enhance convenience with tools such as virtual queuing. Integrated with Eltropy’s Appointment Management, Lobby Management also enables members and customers to use a check-in kiosk to check-in for scheduled appointments or to book new ones. Lobby Management also provides lobby traffic analytics to help branch managers best allocate staff and service offerings.

“Lobby Management, powered by the Eltropy Unified Platform, allows CFIs to tie their branch operations with digital operations, thereby holistically serving their members and customers in physical and digital channels seamlessly and simultaneously,” Eltropy VP of Products Jack Chawla said. “With our unique approach to resource management in physical and digital channels, we can help CFIs efficiently service the members in the channel of their choice, including the branch lobby.”

Eltropy made its Finovate debut at FinovateSpring in 2017. In its most recent appearance on the Finovate stage two years ago, the company demoed its Eltropy One solution. Eltropy One is the company’s all-in-one omni-channel solution that enables FIs to manage both in- and outbound communications from a universal console. With Eltropy One, FIs can leverage text, secure chat, video, audio, cobrowsing, and conversational bots to handle both simple and complex customer communication.

Founded in 2014, Eltropy is headquartered in Milpitas, California. The company began the year surpassing the 600th customer milestone. In a statement, Eltropy noted that it was the fastest CFI-focused fintech to achieve this accomplishment. The new milestone announcement came with news that the company was increasing its investment in Generative AI and product R&D by 36% this year.

Photo by micheile henderson on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Crédit Agricole Acquires 7% Stake in Worldline

Crédit Agricole Acquires 7% Stake in Worldline
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Credit Agricole, Daily news, Mergers & Acquisitions, Worldline
  • Credit Agricole is taking a 7% minority stake in Worldline.
  • The announcement comes six months after the two initiated their partnership in July of 2023.
  • Credit Agricole is making the move to “reaffirm confidence” in Worldline, which was hit with scrutiny over its AML practices last year.

French bank Credit Agricole announced this morning it has taken a 7% minority interest in payments services company Worldline.

Today’s agreement comes six months after the two first partnered in July of last year. According to Credit Agricole, today’s move to deepen this relationship will help strengthen the partnership to create “a major player” in the French merchant payment services market.

“Through this transaction,” the bank said in its press release, “Crédit Agricole Group is reaffirming confidence in its partner: a strong franchise, leading-edge technologies, and proven innovation capabilities, at the service of its customers.”

Credit Agricole’s other aim in taking a minority interest is to demonstrate its intention to not only support Worldline’s development, but also to implement its strategy as a player in the European payments sector. In the long-term, Credit Agricole seeks to remain a minority shareholder in Worldline.

France-based Worldline, which faced scrutiny over its AML practices last year, saw its shares cut in half after the allegations arose regarding its AML safeguards. After today’s announcement, Worldline’s shares jumped 5%.

Worldline began facilitating card transactions in 1973 and currently has 18,000 employees in more than 50 countries and counts annual revenue of around $4.4 billion. Gilles Grapinet is CEO.

Interested in demoing at FinovateEurope in London next month? Applications are still being accepted from innovative companies with new solutions that are ready to show. Visit our FinovateEurope hub today to learn more.

Photo by Anna Shvets

Share this:

Send Post Twitter LinkedIn Facebook

Digital Onboarding Raises $58 Million

Digital Onboarding Raises $58 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Digital Onboarding, Funding
  • Digital Onboarding announced a $58 million growth round, boosting its total funding to $62.6 million.
  • Today’s funds come from Boston-based private equity firm Volition Capital.
  • Digital Onboarding will use today’s investment to accelerate its product roadmap, improve support for existing customers, drive awareness in new markets, and increase its headcount.

Digital Onboarding, a financial services onboarding service provider, announced a $58 million growth investment today. The funds come from Boston-based private equity firm Volition Capital and boost Digital Onboarding’s total funding to $62.6 million.

Digital Onboarding will use today’s investment to accelerate its product roadmap, improve support for existing customers, and drive awareness in new markets. The company also notes it plans to double its headcount by the end of this year.

Digital Onboarding offers a SaaS tool to help banks remove friction during the onboarding process. The company’s digital engagement platform helps financial services companies deliver compelling services that keep customers around for the long-term. The company is especially effective in helping motivate accountholders to take action because it aggregates data across banks with similar business objectives.

“Banks and credit unions are pushing further into digital maturity, with many providing online banking and developing robust campaigns for customer acquisition. However, digital transformation often stalls at the onboarding stage of the new customer or member lifecycle,” said Digital Onboarding CEO Ted Brown. “Financial institutions have a significant opportunity to make enrolling in and setting up deposit, payment, and other services simple and seamless. Making these as accessible and easy to complete as possible has a measurable positive impact on customer retention and loyalty.”

Brown founded Digital Onboarding, originally known as SalesBrief, in 2015, along with his co-founder Jonathan Crossman. The company pivoted to the financial services realm in 2017 after participating in a credit union’s fintech accelerator.

Last November, East Cambridge Savings Bank selected Digital Onboarding to increase its checking account activation rates, and Buckeye State CU tapped the Boston-based company to better inform its members and cross-sell product offers. Earlier in 2023, Digital Onboarding also signed Jack Henry, Legacy CU, and others.

Today’s announcement is part of a wave of fintech funding that has surged in the past couple of weeks.

Photo by Sigmund on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Dynamic Planner Offers Risk Profile Mapping for Single Strategy Funds

Dynamic Planner Offers Risk Profile Mapping for Single Strategy Funds
By David Penn Posted on
Categories: Alumni News, Daily news, Dynamic Planner
  • U.K.-based financial planning software company for advisors, Dynamic Planner, launched its new risk profile mapping service this week.
  • The service brings greater clarity on potential risks when building diversified investment portfolios with single strategy funds.
  • Dynamic Planner made its Finovate debut in 2022 at FinovateEurope in London.

Dynamic Planner, a financial planning software company for advisors, unveiled its new risk profile mapping service for single strategy funds this week. The new service will help advisors create diversified portfolios with greater accuracy and insight on potential risks. This will ensure that portfolios are suitable to their specific investors and their goals.

“The new service will provide them with a level of granularity not previously possible, greater efficiency and accuracy, and all within one system with a consistent level of risk throughout,” company Chief Proposition Officer Chris Jones said. “However you organize your business and decide to meet the needs of your clients, Dynamic Planner can support you.”

The Single Strategy Mapped Service precisely maps instrument-level holdings data against Dynamic Planner’s risk factors and asset risk model. By sourcing single strategy fund holding data directly from fund providers, Dynamic Planner achieves a higher than usual level of granularity. This enables the service to provide the same accuracy and efficiency in the deployment of single strategy funds that advisors have when using multi-asset solutions.

The new service will also help fund managers better deal with compliance requirements. These include new regulations such as Consumer Duty, as well as the Product Intervention and Product Governance source book (PROD) rules that came into effect in 2018. “From a PROD and Consumer Duty perspective, the Single Strategy Mapped Service also enables the fund manager to more simply and clearly communicate whether a fund is intended to be distributed as a solution or part of a portfolio,” Jones said.

Headquartered in the U.K., and founded in 2003, Dynamic Planner made its Finovate debut at FinovateEurope 2022. At the event, CEO Ben Goss and his team showed how the platform combined intuitive technology with an independent asset risk model to match the right investment strategy with the right investor. Geared toward asset managers that risk profile, target, or manage more than £250 billion in investments, Dynamic Planner leverages 2,400+ covariance correlations to help ensure investment suitability.

Dynamic Planner began 2024 with the launch of its new low code integration platform. The solution enables advisors to integrate Dynamic Planner with other CRM systems they currently use to better manage client relationships.

Interested in demoing at FinovateEurope in London next month? Applications are still being accepted from innovative companies with new solutions that are ready to show. Visit our FinovateEurope hub today to learn more.

Photo by Gilly on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Supply Wisdom Unveils Self-Service Real-Time Risk Intelligence Platform

Supply Wisdom Unveils Self-Service Real-Time Risk Intelligence Platform
By David Penn Posted on
Categories: Alumni News, Daily news, Supply Wisdom
  • Supply Wisdom unveiled its self-service, SaaS-based model that gives organizations the ability to conduct real-time risk monitoring.
  • The new capabilities come in the wake of the firm inking partnerships with three Fortune 100 companies.
  • Supply Wisdom made its Finovate debut in 2022 at FinovateFall in New York.

Today, Supply Wisdom launched a self-service, SaaS-based model that delivers real-time risk monitoring capability to organizations. The company noted that its new offering will help organizations operationalize location-specific risk in their decision making.

Tom Thimot, Supply Wisdom CEO, explained the challenges organizations face in terms of both new regulations and growing geopolitical risk. “Firms are starting to recognize that geographic concentration is a common risk indicator raised by DORA (Digital Operational Resilience Act) and many other recently introduced regulations, yet they lack adequate risk intelligence and the tooling needed to operationalize risk management,” Thimot said. To this end, the new model will help organizations deal with the growing incidence of geopolitcal disruptions to business activity.

The launch news comes in the wake of Supply Wisdom adding three new customers – all members of the Fortune 100 – to its roster. Although unnamed in the company’s statement, the new clients include one of the four largest banks in the U.S., one of the top three shipping companies in the world, and a leading U.S. financial services and insurance company. These firms have used Supply Wisdom’s platform to monitor 150+ metrics across eight location risk subdomains – including ratings and event alerts – in weeks.

“The days of hiring and training scores of staff to compile and aggregate data reporting manually are over,” Thimot said this week. “As a result, we are seeing more Fortune 100 companies across industries turn to Supply Wisdom for real-time risk intelligence. Through immediate insights, businesses can respond more quickly to minimize or avoid the potential impact of global threats.”

With more than 30 years of experience in scaling SaaS-based technology companies, Thimot joined Supply Wisdom as CEO in December. Previously, he was CEO of enterprise identity authentication firm authID. Thimot also served as CEO of Finovate alum Socure. During his tenure, Socure earned a valuation of $1.3 billion. The company also became known as a leader in day zero identity verification.

Supply Wisdom made its Finovate debut at FinovateFall 2022. At the conference, the company showed how it leverages real-time risk intelligence and alerting help organizations modernize their risk management beyond point-in-time practices. Founded in 2017 and headquartered in New York, Supply Wisdom has raised $11.5 million funding, according to Crunchbase. The firm counts Fulcrum Equity Partners and Florida Funders among its investors.

Photo by Wallace Chuck

Share this:

Send Post Twitter LinkedIn Facebook