Finovate Alumni News


  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
    • Xero’s new invoicing experience available for all Xero customers and partners over the next two weeks
    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API marketplace.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    PayPal in Argentina; Temenos Backs African Challenger Bank

    Finovate Global is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

    Latin America and the Caribbean

    • PayPal invests $750 million in Argentina-based e-commerce company MercadoLibre.
    • First Data to acquire Brazilian electronic funds transfer (EFT) solution provider Software Express.
    • NCR, Bluefin, and Powertranz team up to support POS card processing for Caribbean quick serve restaurants.
    • BlueRush deploys its Individeo platform with a large Colombian bank courtesy of a partnership with Bee Concept.
    • The Wall Street Journal looks at how global FIs are gaining interest in the Latin American alternative lending market.


    • Experian launches Singapore-based incubator, Experian X Labs.
    • South Korean crypto company Kakao raises $90 million via private coin offering.
    • Thai Stock Exchange to launch a digital asset exchange next year.

    Sub-Saharan Africa

    • Front office and core banking technology from Temenos to drive digital revamp for African challenger bank, Vista Bank.
    • Financial Software and Systems takes 46% stake in South Africa’s Ecentric Payment Systems.
    • South Africa’s second largest retail bank, Capitec, extends its partnership with ACI Worldwide.
    • ThreatMetrix teams up with Blue Turtle Technologies to help market its fraud prevention solution to customers in Africa.

    Central and Eastern Europe

    • Tinkoff Bank reports 2018 highlights including launch of new mortgage app, a joint P2P money transfer offering with Sberbank, and more than 2.7 million new active credit customers.
    • iSignthis Inks Banking and Payments Deal with Ibanera.
    • Bulgaria-based Software Group scores €18 million loan from Europe Investment Bank.
    • EU Startups features lending platform Inlock its look at 10 Hungarian startups to look out for in 2019.
    • Bulgaria’s Municipal Bank to deploy new core and payments solutions from Oracle.

    Middle East and Northern Africa

    • Dubai International Financial Center (DIFC) launches $10 million fund for fintech startups in the MENA region.
    • Commercial Bank of Qatar joins R3.
    • Credit scoring solution provider Creditinfo opens regional hub in Muscat following new strategic partnership with the Central Bank of Oman.

    Central and South Asia

    • ArthaYantra wins Fintech of the Year (India) at The Asset Triple A Digital Awards.
    • Africa’s Naspers plans to spend $1 billion on investments in Indian fintechs.
    • Standard Chartered’s SC Ventures division to launch digital platform for Indian SMEs.

    Top image designed by Freepik

    Finovate Alumni News


    • Fiserv Helps NationalLink Maximize Smart Safe Technology.
    • Mastercard to Acquire Digital Commerce Fraud Fighter Ethoca.

    Around the web

    • Carsharing firm HyreCar leverages identity verification technology from Mitek for its mobile onboarding app.
    • PayPal invests $750 million in Argentina’s e-commerce company, MercadoLibre.
    • Tinkoff Bank reports 2018 highlights including launch of new mortgage app, a joint P2P money transfer offering with Sberbank, and more than 2.7 million new active credit customers.
    • Best of Show winner Voleo chosen to participate in Netherlands-based fintech research program.
    • ThreatMetrix teams up with Blue Turtle Technologies to help market its fraud prevention solution to customers in Africa.
    • ArthaYantra wins Fintech of the Year (India) at The Asset Triple A Digital Awards.
    • Stash launches Stock-Back, a rewards program to bridge banking and investing.
    • Jack Henry to collaborate with the Zelle Network to launch JHA PayCenter.
    • InComm expands into lottery industry with Linq3 Technologies acquisition.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    Finovate Alumni News


    • “Redesigning the Value Chain: Q&A with Michiel Schipper of Topicus”

    Around the web

    • Trustly appoints CCO from Société Générale and director of sales from Klarna Group.
    • Swiss Re partners with Backbase to develop a new digital platform for selling and servicing life and health products online. Come see Backbase at FinDEVr on 6/7 October in San Francisco.
    • PayItSimple launches in the United Kingdom.
    • Greater Nevada, $550 million in assets, hires Insuritas to launch insurance agency.
    • Paybefore: “How the Ripple Protocol Could Change Payments”
    • PayPal’s Braintree supports Apple Pay in the U.K. with its SDK. Come see Braintree at FinDEVr this fall.
    • Billhighway adopts SnapApp platform to develop and publish interactive content that increases market engagement.
    • ReadyForZero lists Prosper and Lending Club as 2 of the top 3 debt-consolidation loan companies.
    • Betterment launches SmartDeposit feature.
    • Market Prophit licenses its platform to Nasdaq’s Market Intelligence Desk.
    • The Flying Merchant to use digital eKYC solution from iSignthis to meet AML requirements.
    • The Economic Times India features ArthaYantra, Betterment, FutureAdvisor, and Wealthfront in a review of robo-advisors.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    With ARTHOS, ArthaYantra Puts a CFO in its Web-Based PFM Solution

    Thumbnail image for ArthaYantraLogo.jpg

    This post is part of our live coverage of FinovateAsia 2013.

    Making their way to the stage now is ArthaYantra with their online personal finance solution, ARTHOS.

    “Arthos is a user-friendly web based personal finance platform, which provides actionable advice instantly. It replaces the need of a traditional human advisor who has to spend days to create customized and quality advice for a family. Arthos uses patented algorithms, processes, and the proprietary system of PFLM to cover all aspects of personal finance. One can create a financial plan, implement recommendations, and monitor performance on a single online platform. Arthos can provide advice to individuals who can save as little as $100 a month.”
    Presenting Nitan Vyakaranam (CEO & Founder) and Sunil Lingareddy (CFO & Co-Founder)

    Product Launch: November 2012
    Metrics: $0.5M funding through seed capital; 15,000+ registered families from over 500 cities (India & abroad); largest online financial advisor in India in less than 8 months; 94% of registered users have never invested in capital markets before, high customer lifetime value of users.
    Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, and through other fintech companies and platforms.
    HQ: Hyderabad, India
    Founded: January 2012
    Twitter: @arthayantra

    FinovateAsia 2013 Demo Companies Bring Global Innovation to Singapore

    FinovateAsia is typically our most globally diverse show, and this year is no different. Two weeks from now, we will showcase 37 demos from companies spanning the globe that are innovating in everything from remittance to small business tools to back office solutions and much more. 

    Given that diversity, we thought it would be fun put together a map showing the geographic spread of the demoing companies that will take the stage (click the map to enlarge).


    Here’s the breakdown of the number of companies from each region:

    • Asia: 12
    • Europe: 11
    • North America: 9
    • Africa: 1
    • Oceania: 2
    • Middle East: 2

    To refresh your memory, the list of the companies that we’ve hand-picked to show off their new technology at the Max Atria @ Singapore Expo on November 14, include:

    • Advanced Merchant Payments
    • App Annie
    • Arkalogic
    • ArthaYantra
    • Backbase
    • BehavioSec
    • BlueKite
    • BRIDGEi2i
    • CustomerXPs Software
    • DragonWealth
    • GMC Software Technologies
    • i-exceed
    • IND Group
    • Intuition Intelligence
    • KlickEx
    • Kofax
    • LifePAD
    • Luminous
    • Mambu
    • Matchi
    • Mistral Mobile
    • Mobexo
    • Mobino
    • Pangea
    • Payoneer
    • Pixeliris
    • Red Zebra
    • SaaS Markets
    • Serverside
    • Smart Engine
    • TIBCO
    • Tootpay
    • TradeNet
    • TSYS
    • White Label Personal Clouds
    • Yodlee

    To see live demos of the new technology, meet the entrepreneurs responsible, and network with others in the industry, get your ticket to FinovateAsia here. If you have questions about the show, check out who is attending or email

    FinovateAsia 2013 Sneak Peek: Part 2


    Here’s a sneak peek of five more companies who will demo at FinovateAsia next month in Singapore. These companies each gave us a glimpse of what they plan to demo.

    If you missed our first sneak peek, check it out here. We’ll post the remaining companies in the next couple of weeks so stay tuned.  

    To see all 37 companies demo live at FinovateAsia, get your ticket here.

    ArthaYantraLogo.jpgArthaYantra’s Arthos is an online personal finance platform that replaces the traditional human advisor and provides holistic advice instantly.

      • Online personal finance platform with instant, actionable advice
      • Replaces the need for a traditional human advisor
      • Create a financial plan, implement recommendations, and monitor performance
    Why its great: 
    Instant and end-to-end financial planning without visiting a traditional human advisor  


    Nitin B Vyakaranam
    Founder and CEO of ArthaYantra with 14 years of BFSI and IT sector experience across countries. Holds multiple patents and is an avid personal finance writer. Earned an MBA from Indian School of Business.

    Sunil Lingareddy
    Co-Founder and CFO of ArthaYantra. A serial entrepreneur and mentor with business interests in financial services, pharma, real estate, energy and infrastructure. Earned an MBA from Indian School of Business.



    Customer XPs is a leading real-time technology solution provider to banks worldwide. It will demonstrate paperless branch banking and intelligent queuing solution.
      • Improved teller efficiency and productivity by intelligent queue processing
      • Improved customer experience by reduction in wait time
      • Reduced error rate
    Why it’s great: 
    It’s solution creates efficient queuing and paperless banking in branches. Quick deployment of the solution can be on mobile devices, tablets and PCs.


    Rivi Varghese
    Rivi is the CEO and has around 15 years of experience in the IT product industry. Rivi has international experience across 20+ countries and is credited with delivering at least 12 new-to-the-world products.

    KofaxLogo.jpgKofax enables customer acquisition directly from the mobile device and, recognizing the importance of consumer engagement, Kofax will demonstrate on-boarding for an impactful customer experience.

      • Meet and service the customer via the mobile channel
      • Reduce operating costs and minimize drop-off rates
      • Build competitive advantage while increasing growth and profitability
    Why it’s great:
    Kofax Customer Onboarding improves the agility and profitability of your bank’s customer on-boarding processes by engaging customers via mobile devices.  


    Drew Hyatt
    Drew is a domain expert in mobile image capture. He works directly with top-tier FSI companies to develop mobile image capture solutions that integrate with and enhance their mobile strategies.


    Dimitri Seneca Snowden
    Dimitri is a visual strategist who leads solution innovation at Kofax. He has more than 13 years of experience in user interface design, user experience design and universal design.


    Mobexo is reshaping the way we think about payment and financial services.
      • Mobile-specific security technology
      • Merchant portal, low-cost CRM system
      • Payment processing without additional hardware
    Why it’s great:
    Mobexo connects smartphone users to the physical and digital commodities of their lifestyles, without security and privacy issues and the inconveniences of traditional payment instruments.  


    Sopheap Lao
    Founder and CEO of Mobexo, Sopheap has over 16 years as a Senior Accounting and Finance Consultant where he founded Heuristis Business Consulting. Sopheap is also an Open Source Evangelist.


    Jean-Marc Ly 
    Jean-Marc is a serial entrepreneur from Silicon Valley and founded several startups that have been incubated in AcceleratorHK and Science Park incu-app. He is a startup advocate and mentor.


    Pixeliris’ CopSonic enables contactless sonic and ultrasonic communication between smart devices for mobile payment and passwordless authentication available on phones and smartphones.
      • It turns any phone into a mobile payment device
      • It is truly contactless and entirely secure thanks to One Time Password and strong authentication
      • It replaces standard online passwords
    Why it’s great:
    With Copsonic, pay anywhere with any phone.  


    Brian Roeten (pictured)
    Brian joined the team in 1999. Today, his experience and skills enable him to manage the company’s innovating international hightech projects.
    Emmanuel Ruiz

    Since he founded the company in 1995, Emmanuel Ruiz has initiated all innovations, from our first audio broadcasting systems to the recent sonic and ultrasonic contactless communication technology.

    Stay tuned on the Finovate blog where we will publish parts 3 and 4 of our Sneak Peek series in the weeks leading up to November 14.

    Showing Our Age: A Look at FinovateAsia 2013 Demo Company Launch Timeline

    At Finovate, we’ve seen how great innovation comes from companies of all ages. All we have to do is look at the Best of Show winners from FinovateAsia 2012. The founding dates of the winners ranged from 1858 (NAB, the parent company of UBank) to 2012 (SocietyOne).

    We don’t know who will win Best of Show at FinovateAsia in Singapore this year, but looking at the launch date of the 37 companies taking the stage November 14, we found a 28-year spread. 

    Here they are in reverse chronological order with funding amounts, if disclosed:

    2013- 2012
    • BlueKite: 2013
      Total Funding: $1.5 million Seed funding
    • KlickEx: 2011
      Total Funding: $1.3 million
    • Mambu: 2011
      Total Funding: $2 million Series A

    2007 or earlier
    • Yodlee: 1999
      Total Funding: $124 million
    • BehavioSec: 1998
      Total Funding: $2 million (€1.5 million)
    • Kofax: 1985
      Public LON: KFX

    To learn more about each of these companies, check them out here and come see their live demos in Singapore on November 14.


    All numbers and funding information sourced from

    What to Expect at FinovateAsia this November


    You may have seen the list of FinovateAsia demoing companies we released a few weeks ago. Here are more details on the 32 companies demoing November 14 at the MAX Atria @ Singapore Expo. Get your ticket here to be part of the crowd.

    Stay tuned for our Sneak Peek series next month featuring a behind-the-scenes look at each company and chance meet the innovators.


    Advanced Merchant Payments’ innovative loan management solution enables banks to offer profitable, unsecured, short-term loans to small businesses

    ArthaYantra provides personal financial advice online to everyone irrespective of what they earn

    Backbase brings social media to the bank, and the bank to social media

    BehavioSec has extended its award-winning BehavioMobile solutions to offer policy-based behaviour authentication


    BellaDati is the agile business data analysis with human touch

    BlueKite’s international bill payment service improves an immigrants’ ability to care for family back home

    BRIDGEi2i is a trusted partner that enables organizations to achieve accelerated outcomes by embedding analytics in their DNA

    CustomerXPs Software is a leading product company offering real-time, Enterprise Fraud Management & CEM products to banks globally

    GMC Software Technology is a leading software developer of solutions that transform the customer experience

    i-exceed has created a Unified Application Development Suite for smartphone, tablets, desktops and laptops across operating systems

    IND Group is a leading innovator and developer of digital banking, PFM and payments technology

    Intuition Intelligence delivers the right offer at the right moment to the right client via digital channels

    KlickEx is a Global Clearing System for commercial and central banks. The Clearing System extends to Retail, as well

    Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interaction

    Luminous is a boutique innovation company that has become synonymous with innovative banking around the world

    Mambu enables financial institutions to rapidly deliver state-of-the-art banking services through a cloud-first Software-as-a-Service solution

    Matchi is a matchmaker for innovation

    Mistral Mobile powers your mobile financial services to serve anyone

    Mobexo is a scalable, value-added payment ecosystem that allows transactions to be executed between smartphones

    Mobino enables mobile payments for 5 billion people, from any phone, no credit card required

    Pangea Payments’ multiplatform solution will allow you to send money to anyone, from anywhere, at any time, using mobile and retail locations around the world

    Red Zebra brings together consumers, banks and retailers, with targeted rewards based on spending patterns


    SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers

    Serverside Group is the global technology leader in digital card designs and a provider of innovative artwork solutions that create meaningful results


    SinoLending is the leading online lending platform in China

    Smart Engine’s Multichannel Loyalty Platform benefits financial institutions, merchants, web shops and users

    TIBCO Software creates real-time, event-enabled solutions for the 21st Century

    Tootpay’s mobile payment solution works independently from network and operator. It is encrypted, using a standard mobile phone

    TradeNet provides an equity trading customer channel for retail customers in emerging markets at $5 a month

    TSYS focuses on people-centered payments

    White Label Personal Clouds’ Website Welcomer eliminates username/passwords and enables seamless, private transfer of information between organisations


    Yodlee is the platform for financial innovation, powering the world’s largest collection of transactional data
    To learn more about FinovateAsia, visit the event page, check out the FAQ, or email