Finovate Alumni News

On Finovate.com

  • Check out a sneak peek of Topicus.Finance’s upcoming demo at FinovateAfrica.
  • Launchfire Launches StepDemo to Enhance Employee Training.
  • Poland’s Braintri Merges with iCompass.

Around the web

  • Xero teams up with Absa Bank to improve access to financing for South African SMEs.
  • TransferWise opens its API.
  • Fenergo introduces new Client Lifecycle Management: Front to Middle Office Transformation app on Salesforce AppExchange.
  • Mortgage Cadence adds to its Enterprise Lending Center loan origination platform courtesy of a partnership with MGIC.
  • Tinkoff Bank enables its iOS-using customers to buy concert and theatre tickets via its mobile app.
  • ThetaRay CEO Mark Gazit appointed to the International Technology Advisory Panel of the Monetary Authority of Singapore.
  • Klarna forges partnership with weighted blanket developer, Gravity Blanket.
  • Temenos announces Technology Partner Agreement with distributed SQL database provider, NuoDB.
  • Aqubix, Behaviosec, CustomerXPS, ElectronicID, GreenKey, IdentityMind, Jumio, NICE, Onfido, Payfone, SecuredTouch, Sedicii, Trulioo, and Trunomi honored on RegTech 100 list.

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

  • Finablr Takes Majority Stake in Digital Gifting Innovator Swych.
  • Simple Appoints Former Amazon Exec as CEO.

Around the web

  • Analyst Ian McKenna highlights six Finovate alums – Access Softek, Bucket Technologies, Systelos, BlueRush, Tinkoff, and Golden – in his roundup of “fintech innovators making waves.”
  • Marketing Technology Insights interviews CallVU CEO Ori Faran.
  • Hydrogen, iProov, Ocrolus, and James Finance are among 20 startups competing for top honors at the India FinTech Awards 2018.
  • The Constant Investor’s Crypto Watch interviews Identitii CEO Nick Armstrong on the role of blockchain technology in fighting cybercrime.
  • Tinkoff Mobile extends service to seven additional areas of Russia including Smolensk and the Republic of Mordovia.
  • Kofax pays $400 million in cash to buy Nuance’s imaging division.
  • Walmart’s in-store Direct2Cash service gives PayActiv users instant cash access to earned wages.
  • Kony enhances Kony AppPlatform to support progressive web apps.
  • CEO Review magazine features AdviceRobo CEO Diederick Van Thiel.
  • BehavioSec launches new features for version 5 of its behavioral biometrics platform.

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

  • SigFig Buys SmartWealth from UBS.

Around the web

  • Compass Plus migrates Brazilian prepaid card issuer, BPP, to its platform.
  • UBS shutters its robo advisor, SmartWealth, selling technology to SigFig.
  • Azimo forges strategic partnership with African payments business, Interswitch Group.
  • BehavioSec unveils its Behavioral Biometrics Platform, which boosts security with invisible, continuous authentication.
  • PayPal’s Xoom partners with Ria Money Transfer to accelerate global expansion in 86 countries.
  • Bluefin and SoftPoint partner for comprehensive PCI-Validated P2PE solution for POS systems.
  • NCR appoints Andre Fernandez as Chief Financial Officer.
  • Kony teams with Payveris to help banks deliver digital money movement services.
  • Cryptoline News: Payfone’s technology now used to prevent SIM swap attacks.

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

  • Zopa Raises More than $57 Million to Support Next Generation Bank.
  • Mitek Helps Bring Mobile Deposit to Credit Unions.
  • Crypterium Releases Crypto-Fiat Solution.

Around the web

  • Sberbank Group CTO David Rafalovsky selected to lead Sberbank’s Technology Block.
  • BlueRush announces new Chief Financial Officer, Dave Badun.
  • Thomson Reuters adds Dealerweb and Icap pricing to its Reuters Capital Markets 19901 service.
  • MEDICI features Ayasdi, Feedzai, FixNix, IdentityMind Global, BehavioSec, and identitii in its roster of top RegTech startups.
  • Bankjoy to power mobile and online banking for Marshland Federal Credit Union.

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

  • OnDeck Scores $93 Million in Two Credit Facilities.
  • P2Binvestor Teams Up with Amalgamated Bank to Help SMEs Get Funded.
  • The ID Co. Unveils Open Banking API Platform.

Around the web

  • Carte Wealth Management to deploy advisor engagement platform powered by BlueRush.
  • CREALOGIX wins Best Web Front End Solution at the 2018 Systems in the City Awards for fintech in banking and wealth management.
  • Technology from Cognizant and Temenos helps Julius Baer complete core banking modernization.
  • Coinbase correction: No SEC approval received for acquisitions.
  • BehavioSec’s behavioral biometrics platform fulfills critical requirements achieving Payment Services Directive 2 (PSD2) compliance.
  • Roostify partners with Colonial National Mortgage to provide customers with a simple and intuitive online 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 Favorites: A Baker’s Dozen of Best of Show Winners

Which fintech companies have continued to impress Finovate audiences over the years? The return of Kasasa to FinovateSpring last month, winning its fourth Best of Show award in the process, got a few of us thinking that it was a good time to take a look at which companies have been selected as fan favorites most frequently after demoing their latest technologies live on stage.

We’ve highlighted companies that have been especially popular at certain conferences, such as FinovateAsia and FinovateSpring before. Here is our compendium of the top Best of Show vote-getters to date for all shows combined (minimum of three wins).

The Big Three

The three companies that have won the most Best of Show awards from Finovate audiences reflect three different themes in fintech over the years: the allure of social investing (eToro), the rise of data analytics in banking (MX, formerly Money Desktop), and the persistence of the payment card (Dynamics). What is especially impressive about all three companies in our Best of Show Big Three is their ability to innovate over time. Each alum won their first Best of Show award between 2010 and 2012 and won their most recent Best of Show award between 2016 and 2018.

Dynamics (8) Founded in 2007. Headquartered in Pittsburgh, Pennsylvania. Jeff Mullen is CEO.

MX / Money Desktop (6) Founded in 2010. Headquartered in Lehi, Utah. Ryan Caldwell is CEO.

eToro (6) Founded in 2007. Headquartered in Tel Aviv, Israel and London, U.K. Yoni Assia is CEO.

The Super Six

Of our Super Six – the six companies to have won Best of Show awards four times – what is most interesting is also the way many of them have been proven innovators over a time of major change in fintech. Companies like Kasasa (formerly BancVue) and Yodlee (now Envestnet | Yodlee) made their big splash back in the earliest days of Finovate and, with recent Best of Show wins in 2018 and 2017, respectively, shown that they are still among fintech’s most inspiring solution providers.

Backbase – 4

Kasasa / BancVue – 4

Meniga – 4

oFlows – 4

SaleMove – 4

Yodlee (including Envestnet | Yodlee) – 4

The Fantastic Four

Two of the companies in our Fantastic Four companies that have won Best of Show awards three times have since been acquired. LearnVest, a three-time Best of Show winner from 2011-2013, was acquired by Northwestern Mutual for more than $250 million in 2015. EyeVerify, which won Best of Show awards on three different continents, was acquired by Ant Financial in 2016. The company now operates as ZOLOZ, and is focused on providing digital identity solutions for the underbanked in Asia.

BehavioSec – 3

EyeVerify (now “ZOLOZ”) – 3

LearnVest – 3

mBank – 3

Note: FA: FinovateAsia, FE: FinovateEurope, FF: FinovateFall, FS: FinovateSpring. Audience favorite awards from FinDEVr not included.

BehavioSec Closes $17.5 Million Series B

Behavioral biometrics company BehavioSec landed $17.5 million in funding today. This brings the company’s total funding to almost $26 million.

The Series B round was led by Trident Capital Cybersecurity with Cisco Investments, ABN AMRO, and existing investors Octopus Ventures and Conor Venture Partners also contributing. The Sweden-based company will use the funds to expand global operations and relocate its headquarters to the U.S. This comes after BehavioSec’s expansion to the U.S. last April.

Since it was founded in 2009, BehavioSec has secured billions of transactions for 40+ million users. The company’s flagship offering technology leverages machine learning to verify a user’s identity by how they interact with their device. This layered and continuous approach takes place in the background so as not to interfere with the user experience. At FinovateFall 2015, the company’s COO, Olov Renberg debuted BehavioSec On Demand. The solution is a transaction-based behavioral biometrics service in the cloud aimed to help organizations control who accesses that service without compromising the integrity of companies and individuals.

Alberto Yépez of Trident Cybersecurity cites two main reasons for the firm’s investment in BehavioSec. “We decided to invest in BehavioSec given production deployments authenticating user sessions for some of the most sophisticated financial institutions and governments around the world. In addition, the company continues to lead the innovation in behavioral biometrics through close partnership with leading cybersecurity vendors and government agencies, including DARPA,” said Yépez.

In an era when data breaches, hacks, and compromises occur on an almost monthly basis, there will be plenty of demand for online security companies for some time. That said, there will also be increased competition. Last October, Zighra launched a continuous authentication solution that leverages behavioral cues. Additionally, companies such as BioCatch, NuData Security, and IBM Security Trusteer all have offerings similar to BehavioSec’s behavioral biometrics solution.

At FinDEVr San Francisco 2015, the company’s VP of Engineering Ingo Deutschmann and COO Olov Renberg gave a presentation titled Behavioral Biometrics as a Service. Last November, BehavioSec teamed up with Crossmatch to add keystroke capture to Crossmatch’s authentication platform.

Finovate Alumni News

On Finovate.com

  • ThreatMetrix Acquired by RELX, Becomes Part of LexisNexis Risk Solutions.
  • figo Announces ‘License As A Service’ PSD2 Solution, RegShield.
  • BehavioSec Closes $17.5 Million Series B.
  • Payoneer Partners with Waze to Power Local Payments.

Around the web

  • Ellie Mae partners with COCC to offer its members access to Ellie Mae’s Encompass all-in-one mortgage management solution.
  • Meniga wins best App and best Web Solution at the Icelandic Web Awards 2017.

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.

BehavioSec Brings Behavioral Biometrics to Identity Management Specialist Crossmatch

Multiple Best of Show winner BehavioSec has partnered with identity management innovator Crossmatch in a deal that will add keystroke capture to Crossmatch’s composite authentication platform, DigitalPersona.

“We selected BehavioSec’s platform because they are singularly focused on behavioral biometrics and have well-established and proven technology that already serves more than 35 million end users,” Crossmatch director of identity and access management Jeff Carpenter said. The technology, which provides authentication based on a profile of the user’s keystroke/typing style, adds to DigitalPersona’s current authentication options of OTP, PIN, contact or contactless card, and fingerprint.

By leveraging a passive behavioral biometric solution like Behaviosec, Crossmatch provides an additional security option without burdening the user. This is key to ensuring a quality user experience and broadens the appeal of the technology. As BehavioSec CEO Neil Costigan put it: “with this partnership, Crossmatch expands the flexibility of its platform and BehavioSec expands the reach and pervasiveness of its behavioral analytics engine into a new commercial market.”

Founded in 2009, BehavioSec demonstrated BehavioSec on Demand at FinovateFall 2015. We profiled the company this fall as part of our look at FinovateAsia Best of Show winners, our review of Finovate alums that specialize in cybersecurity solutions, and our feature on Best of Show winning alums, Safe Spaces: The Beset of the Authenticators, Verifiers, and Fraud Fighters.

Named to the European Fintech 100 and selected to be part of FinTechCity’s Fintech 50, BehavioSec partnered with Gemalto in June and teamed up with fellow Finovate alum Kount in May. The Stockholm, Sweden-based company opened its U.S. office in Manhattan, New York, this spring. With more than $7 million in funding, BehavioSec includes Northzone and Octopus Ventures among its investors.

Finovate Alumni News

On Finovate.com

  • East vs. East: A Comparison of Regional Fintech Trends.
  • BehavioSec Brings Behavioral Biometrics to Identity Management Specialist Crossmatch.
  • Memento Partners with Islandsbanki to Add Money Pool Feature to Digital Wallet.

Around the web

  • Quid looks at Salesforce Ignite’s implementation of its data visualization technology.
  • NBC News features Ping Identity chief information security officer Robb Reck with tips on being safe on Cyber Monday.
  • Zenmonics’ digital account opening technology wins endorsement from American Bankers Association.
  • BAI Banking Strategies podcast interviews nCino CMO Jonathan Rowe.
  • Business Insider features Pindrop and Ripple in roster of startups that will boom in 2018 – as selected by leading VCs.
  • PYMNTS.com interviews Urban FT co-founder Kasey Kaplan.
  • Kantox boosts currency portfolio from 35 to 92, adding markets in Latin America and Asia.

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.