Finovate Alumni News

On Finovate.com

  • eToro’s eToroX Unveils Cryptocurrency Exchange.
  • CardFlight Expands to Offer Payment Terminal Hardware.

Around the web

  • Klarna launches Mindful Money, a financial management content hub for consumers.
  • Avaloq launches avaloq.one, a collaborative platform to help financial services companies work with fintechs.
  • NICE unveils IntelliAgent, a solution that provides employees with real-time compliance and authentication capabilities.
  • Kantox appoints Maria Chamorro as its new Chief Financial Officer.
  • Trulioo adds Malta to its Global Identity Verification coverage.
  • ieDigital shortlisted for Excellence in Open Banking and Best Rebrand awards at the Credit Awards 2019.

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.

Avaloq to Boost Back Office Ops for Wealth Manager Brewin Dolphin

Brewin Dolphin, one of the UK’s largest wealth managers, has selected Avaloq to transform its back-office infrastructure through Avaloq’s Software as a Service (SaaS) solution, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The project aims to enhance Brewin Dolphin’s digital capabilities to address the rising competition, says the wealth manager, which claims to have £34.9 billion ($45.5 billion) in discretionary funds under management.

Avaloq was awarded the contract after “an extensive selection process” by Brewin Dolphin. The appointment follows a collaboration with UK wealth manager Smith and Williamson which chose Avaloq’s SaaS solution, and complements other UK clients such as Coutts and Canaccord Genuity Wealth Management.

“We have created a high-calibre team who have built a detailed implementation plan to deliver this programme,” said Grant Parkinson, COO of Brewin Dolphin. “It gives us significant opportunity to increase straight-through-processing, improve the efficiency of handling client accounts and reduce operational risk.”

The tech supplier says it experienced strong results for 2018 driven by the demand for the firm’s SaaS, BPaaS and on-premise solutions from new and existing clients and accelerated growth in markets such as the UK and the wider EMEA region.

Overall, the firm generated full-year revenues of CHF579 million ($579 million), a year-on-year rise of 6% on an underlying basis.

New wealth management clients and projects either won or completed in 2018 included Pictet Group, Intesa Sanpaolo Private Bank Suisse, Deutsche Bank Luxembourg, Edmond de Rothschild and Smith & Williamson.

Avaloq demonstrated its technology at FinovateAsia 2018, winning Best of Show honors for its double marketplace that enables fintechs and FIs to take an “app store” approach to discovering and integrating new solutions. Headquartered in Zurich, Switzerland, the company was founded in 1985.

Finovate Alumni News

On Finovate.com

  • NIIT Technologies to Acquire WHISHWORKS IT Consulting.
  • How Flywire Uses Machine Learning.

Around the web

  • NetGuardians partners with the University of Applied Sciences and Arts in Western Switzerland to improve ML and AI software for financial fraud detection and prevention.
  • Brewin Dolphin, one of the U.K.’s largest wealth managers, selects Avaloq’s software as a service solution for its back office infrastructure.
  • The Paypers: Worldline rolls out payment solution for online marketplaces.
  • Payjo relaunches as Interface.ai with a new interface, a new brand, and a platform for intelligent virtual assistants.
  • TurnKey Lender receives accreditation from the Singapore government’s IMDA, a certification that enables companies to expand into international markets easier.
  • Mambu to open a second North American-based office this year.
  • Authority Magazine interviews Ed O’Brien, CEO of eMoney Advisor.

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

Finovate Alumni News

On Finovate.com

  • Capsilon and Blue Sage Drive Automation in MortgageTech.
  • Tandem Chooses Token as PSD2, Open Banking Partner.
  • Yes, Banks Can Compete with Apple’s New Credit Card.

Around the web

  • TurnKey Lender launches psychometrics for credit decisioning.
  • Xero partners with Aussie government’s digital change project.
  • Avaloq 2018 revenues rise to $582 million, a 6% YoY rise.
  • HarborOne Bank selects Baker Hill to provide direct and digital marketing services
  • Affinity FCU selects Digital Onboarding for automated new account activation.
  • Zillow’s Mortech partners with Roostify to improve the digital mortgage experience.

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

Finovate Alumni News

On Finovate.com

Around the web

  • Avaloq signs clients for PSD2 service.
  • Kontomatik enters Southeast Asian market.
  • Feedzai named best in class in fraud and AML vendor market by Aite Group.
  • Yahoo! Finance features SocietyOne and the growth of P2P lending in Australia.
  • American Banker: Jumio teams up with ComplyAdvantage to help banks ID crooks.

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

Finovate Alumni News

On Finovate.com

  • Alternative Data Platform Thinknum Raises $11.6 Million.
  • SigFig Appoints Anne Morrissey as its First CFO.

Around the web

  • Modo taps Matt McBride as its new Chief Information Security Officer.
  • eToro to end commissions for U.K. customers trading on its platform.
  • Avaloq joins Enterprise Ethereum Alliance.
  • Kofax launches its Robotic Process Automation (RPA) 10.4 solution.
  • Vymo wins FICCI (The Federation of Indian Chambers of Commerce) Award for Innovation in Artificial Intelligence and Data Analytics.
  • TurnKey Lender opens new office in Malaysian capital, Kuala Lumpur.

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

Finovate Alumni News

On Finovate.com

  • GreenKey Technologies Secures Strategic Investment from IPC.
  • “Hello USA!” eToro Goes Live in America.

Around the web

  • Russia’s Alfa-Bank joins Marco Polo Network to offer blockchain-based trade and supply chain finance services to its clients.
  • Credit and business information systems specialist CRIF acquires majority stake in digital identity firm Inventia.
  • Klarna partners with Canadian e-commerce and in-store point-of-sale financing specialist PayBright.
  • Ping Identity wins Best Identity Management Solution at the 2019 SC Awards.
  • Arcanum Technology named a finalist in the competition for a spot in the TAG FinTech Innovation Challenge’s 2019 class.
  • Avaloq joins the Enterprise Ethereum Alliance (EEA).

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 Global: Braintri Wins App Prize; Featurespace in Singapore

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • Austrian division of private banking and asset management group, LGT, partners with Avaloq.
  • Bank of Lithuania announces updates to its position on virtual assets and ICOs.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.

Middle East and Northern Africa

  • Finastra brings its core banking technology to Saudi Arabia.
  • Cryptocurrency brokerage based in Kuwait, YallaBit, raises $925,000 in Series A.
  • Arabian Gazette highlights Bahrain’s Manama, Saudi Arabia’s Riyadh, as well as both Dubai and Abu Dhabi in the UAE in its look at Four Arabian Gulf Cities Where Fintech is Thriving.

Central and South Asia

  • Temenos acquires Bangalore-based big data and analytics firm, hTrunk.
  • National Bank of Pakistan introduces its first contactless debit card.
  • Anirban Mukherjee appointed CEO of PayU India.
  • QR code-based payment app BharatPe raises $17 million in round led by Sequoia Capital India.
  • Pan Asia Bank and TerraPay partner to provide instant cross-border payment access to bank accounts in Sri Lanka.
  • Halyk Bank teams up with Fiserv to centralize its cash management process.

Latin America and the Caribbean

  • Digital challenger bank C6 goes live in Sao Paulo, Brazil.
  • Mexico looks at the possibility of forming a digital payments system, run by the central bank, to help make financial services more accessible for the underbanked.
  • PYMNTS.com features Argentine digital challenger bank, Wilobank.

Asia-Pacific

  • Ping An’s fintech subsidiary OneConnect sets up shop in Indonesia.
  • Hong Kong Exchange acquires minority stake in Shenzhen-based fintech.
  • Featurespace goes live in Singapore.

Sub-Saharan Africa

  • South African digital lender Payabill announces equity stake investment from Johannesburg-based business challenger bank, Sasfin.
  • Kenyan Capital Markets Authority Chief Executive Paul Muthaura speaks about the need for a “conducive environment” for fintech innovation in the country.
  • Nigerian Lagos state government to launch e-procurement platform within the next three weeks.

Top image designed by Freepik

Avaloq Banking Suite Goes Live with LGT

The Austrian unit of LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, has gone live with the Avaloq Banking Suite, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The roll-out complements similar activation projects for LGT with Avaloq in Liechtenstein, Switzerland, Singapore and Hong Kong, meaning that all of the group’s core markets now use the same banking system.

The LGT deal with Avaloq dates back to 2006 – the company has been rolling out the core banking system across LGT locations over the years, and Austria is the last site to join. The project in Austria started in 2016.

Jürg Hunziker, CEO of Avaloq, said: “Avaloq is now able to support Austrian banks as the sector increasingly looks to digitise its infrastructure.”

Dietmar Baumgartner, co-CEO of LGT in Austria, added: “The integration of Austria into LGT’s group-wide core banking system makes it possible to benefit from synergies and further simplifies internal processes.”

LGT is a financial services group that has been controlled by the Liechtenstein Princely Family for over 80 years. With Avaloq’s adoption, it aims to strengthen its client-centric sales and service model.

The solution addresses market needs specific to Austria, such as the local tax system and current and future financial regulations. This means that the bank’s advisers automatically meet regulatory requirements.

The going live marks the market entry of Avaloq in Austria. Its scalable solution is now also available to other private as well as retail banks.

Back in 2017, FinTech Futures reported that LGT was implementing the vendor’s OneSumX platform for the regulatory reporting and risk management of its Asian operations – in Singapore and Hong Kong.

Avaloq demonstrated its “double marketplace” that brings the app store concept to banking, at FinovateAsia 2018, winning Best of Show. The Zurich, Switzerland based firm was founded in 1985.

Finovate Alumni News

On Finovate

  • UK-based GBG Acquires IDology in $300 Million All-Cash Deal.
  • NetGuardians Teams Up with Swiss Wealthtech Pictet to Fight Fraud.
  • Finastra Brings its Core Banking Technology to Saudi Arabia.

Around the web

  • BBVA unveils first blockchain-supported structured green bond.
  • Strands introduces Engager 2.0, the newest edition of its AI and machine learning powered financial insights generator.
  • Avaloq’s banking suite goes live with the Austrian division of international private banking and asset management group, LGT.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.
  • Baker Hill earns nomination for The Best Tech in Indiana in TechPoint’s 20th annual Mira Awards.
  • CardFlight’s SwipeSimple now enables more than 50,000 merchants across all 50 states of the U.S.

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.