Finovate Alumni News

On Finovate.com

  • HackerOne Cracks into $36.4 Million in Funding.
  • Arival Bank Nets $2.3 Million in Equity Crowdfunding Campaign.
  • Winners Circle: Finovate Honors Fintech’s Finest with New Awards Series.

Around the web

  • Cinchy voted “Top Pick” for TechCrunch Disrupt SF 2019 and selected as a CIX Top 20 company for 2019. Check out Cinchy’s upcoming demo at FinovateFall later this month!
  • ThetaRay unveils new office in Mexico City.
  • Epcor partners with data-driven solution provider Segmint to help FIs better leverage payment data.
  • Dwolla teams up with Currencycloud to make international payments easier for businesses.
  • Luxoft to collaborate with Fenergo as part of the company’s Global Platinum Partner program.
  • Meniga helps Grupo Crédito Agrícola launch its new banking app, moey!.
  • Nomis Solutions expands presence in the Midwest with the opening of a Center of Excellence in Cleveland, Ohio.
  • WePay launches same-day deposits to Chase bank accounts for free.
  • Blackhawk Network appoints Harel Kodesh as chief technology officer.
  • Lendio Southwest Michigan franchise opens to offer funding to local businesses.

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

  • Twisto Raises $15 Million in Series B Funding
  • Finovate Global: Mexican Fintech Minu Makes History; India’s Namaste Credit Becomes a Neobank.

Around the web

  • Five Degrees adds OneSpan as a new partner in its Open Banking Marketplace.
  • Axiata Group Berhad and Telenor Group end merger discussions.
  • Klarna expands existing partnership with online fashion retailer boohoo group and its four brands.
  • Xero adds BP as latest partner for its Xero Connect e-invoicing solution.
  • Authority Magazine interviews Talbott Roche, CEO and president of Blackhawk Network.

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

  • Hydrogen Brings its App Building Platform to the Oracle Cloud Marketplace.
  • Vymo Fuels Insight for VP Bank’s FE Credit.

Around the web

  • Blackhawk Network to acquire Edge Loyalty Systems.
  • Trustly to provide Alibaba.com’s European customers with online banking payments via Ingenico.
  • TechCrunch: Revolut ramps up customer support with plans to hire 400 people in Porto.
  •  Xero integrates with enterprise solution GreatSoft.
  • BehavioSec joins the NICE X-Sight Marketplace.
  • Merck Sharp & Dohme FCU deploys trio of biometric authentication solutions from Fiserv.
  • New partnership brings nCino’s Bank Operating System to Allied Irish Banks.
  • Entrust Datacard partners with JPMorgan Chase to pilot email security project.

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

  • Lendio Acquires Billy, Launches Cloud Accounting Software.
  • Daon’s New Features Bring Two-in-One Approach to Onboarding, Authentication.
  • CrediVia Adds Multifamily Options to Financing Platform.

Around the web

  • Busey Bank selects Jack Henry’s SilverLake System to improve workflows and enhance digital capabilities.
  • SMArtX Advisory Solutions to power managed accounts for Independent Financial Partners.
  • Gaming rewards and marketing firm Refereum hires Hacker One for its new bug bounty cybersecurity campaign.
  • Onfido teams up with MoneyNetint to help the U.K.-based cross-border money transfer company expand its ability to verify customers.
  • Arkose Labs launches private bug bounty program with Bugcrowd.
  • Tesco For Business leverages Blackhawk for U.K. gift card program.
  • ID R&D ships new version of IDVoice that combines AI and voice technology to increase biometric matching speed and improve enrollment and authentication.
  • VERA names Bill Gadala Chief Financial Officer.

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

  • Fiserv unveils its new mobile bill presentment solution.
  • Digital identity solutions company Signicat acquires Norway’s Idfy.
  • Blackhawk Network announces payments industry veteran and former InComm executive Mark Singer as its new APAC Managing Director.

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

  • Tradeshift Makes Bid to Buy Basware.

Around the web

  • Atlanta Business Chronicle features Pindrop co-founder Vijay Balasubramaniyan on its list of 40 Under Forty.
  • Blackhawk CEO Talbott Roche listed among 2018 Bay Area Most Admired CEOs.
  • Verizon now offers Pindrop’s anti-fraud services to cloud contact center customers.
  • Kony DBX customer growth rises to 75% globally.

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

  • nCino Partners with Secure Trust Bank.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest.
  • Continuity to Provide Compliance Tech for Affinity FCU.

Around the web

  • CREALOGIX to implement its mobile application platform for VZ Depotbank.
  • Trulioo extends its identity and business verification service to the Philippines.
  • OutSystems named Leader in Gartner’s Magic Quadrant for Mobile App Development Platforms for the second year in a row.
  • MBT Bank to deploy SilverLake System from Jack Henry & Associates.
  • Fairstone Financial converts consumer loan portfolio to Fiserv’s LoanServ real-time servicing platform.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.
  • Lendio announces 90% YoY quarterly revenue growth.
  • Blackhawk Network’s CashStar wins PayTech award for Best E-Commerce Initiative.

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

  • Wealthfront Launches Homeownership Planning Tool.
  • Kabbage to Serve Larger Businesses by Expanding Line of Credit to $250k.
  • BlueVine Boosts Invoice Factoring Credit Line to $5 Million.
  • TESOBE’s Open Bank Project Powering Santander’s First Hackathon. Come see TESOBE’s Open Bank Project at FinovateEurope in March.

Around the web

  • Playtech integrates Featurespace’s real-time gameplay fraud detection into IMS.
  • ATB Financial joins SecureKey Concierge Authentication Service.
  • Blackhawk Network partners with Casey’s General Stores to enable ‘cash customers’ with Amazon Cash.
  • TIBCO and Singapore Polytechnic collaborate to address skills shortage for SMEs.
  • Finabank selects Temenos for end-to-end technology.
  • Finastra acquires FX e-trading platform, Olfa Soft SA.
  • 4finance Group to deploy AML and KYC compliance solutions from FICO.
  • Best of Show winner Finn.ai hires former Twitter executive Stephen Morse as new head of global strategic accounts.
  • Nissan Motor Acceptance Corporation (NMAC) joins AutoGravity 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.

Blackhawk Network Acquired by Silver Lake, P2 Capital Partners in $3.5 Billion Deal

Blackhawk Network has agreed to be acquired by Silver Lake and P2 Capital Partners in a deal worth $3.5 billion. The news comes just one day after the company announced a partnership with China-based digital payment platform Alipay that will enable Blackhawk Network retailers to better serve Chinese visitors to the U.S.

Talbott Roche, Blackhawk CEO and President, said the deal will bring “immediate benefits and significant value to our stockholders.” According to the terms of the acquisition, Blackhawk shareholders will receive $45.25 per share in cash, a premium of more than 29% above the average closing share value over the past three months of $36.50.

“Silver Lake and P2 Capital Partners brings the long-term focus, financial resources and technology expertise that can enable us to accelerate growth initiatives globally and reach the company’s full potential,” Roche said.

The acquisition is expected to close in mid-2018. Managing Partner at Silver Lake Mike Bingle praised Blackhawk’s “outstanding network of partners and proprietary technology” and the company’s “proven ability to innovate in both the physical and digital segments.” P2 Capital Partners’ Alex Silver pointed to his firm’s multi-year investment in and support of Blackhawk, saying “we look forward to working with Silver Lake and Blackhawk management to drive the company’s next stage of growth.”

That growth will include a new relationship with Alipay. Blackhawk announced on Monday that it is expanding Alipay’s mobile payment acceptance and engagement solutions to participating U.S. retailers. The service, which is slated to begin this month, will enable Blackhawk’s network of retailers to use the company’s technology to serve visiting Chinese consumers in the U.S.

“Until now, Chinese tourists lacked convenient access to information on what payment methods were accepted at U.S. retailers they wished to visit,” Roche explained. “Alipay is ubiquitous in China, and represents an effective way for retailers to engage with Chinese travelers.” Souheil Badran, president of Alipay Americas, pointed out that 4 million Chinese tourists visit North America each year. “Many of those travelers are Alipay consumers already and are looking for the payment safety, convenience, and efficiency they are accustomed to at home,” Badran said.

Blackhawk’s solution uses in-store QR codes to access its platform, which then instantly issues the retailer’s branded, stored-value egift. As well as mobile and online payments and money transfers, consumers using Alipay will be able to use the Blackhawk app to get local recommendations, find promotions, book a hotel room, buy movie tickets, and more – all directly from the app.

Partnerships have been a significant part of Blackhawk’s strategy in 2017. In November, the company expanded its relationship with eBay to provide B2B gift card services. The same month, Blackhawk renewed its long-term agreement with Kroger to continue providing both in-store an digital gift card services.

The company made news on both the product and personnel fronts this fall, as well. Blackhawk Network’s Hawk Incentives division launched its wallet-enabled prepaid card for promotions and incentives in September. In October, the company added former healthcare technology executive Charles O. Garner as Chief Financial Officer.

Headquartered in Pleasanton, California and with operations in 26 countries, Blackhawk Network acquired fellow Finovate alum CashStar last year, in a deal worth $175 million. At FinovateFall 2012, Blackhawk demonstrated its GoWallet technology that enabled consumers to manage all of their prepaid cards in one location.

Finovate Alumni News

On Finovate.com

  • Blackhawk Network Acquired by Silver Lake, P2 Capital Partners in $3.5 Billion Deal.

Around the web

  • FIS partners with Australia’s ME Bank to serve as card platform provider.
  • Finastra launches Future of Banking Center of Excellence at Cyberport in Hong Kong.
  • Swedbank Norway and EVRY renew core banking contract.

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.