20 Finovate Alums Earn Spots on One World Identity’s Top 100 Influencers List

When you think about it, what’s cooler than being named to a Who’s Who list in the world of digital identities?

One World Identity, an independent identity research and strategy company that specializes in cybersecurity, digital commerce, and risk management, published its roster of the Top 100 Influencers in Identity this week. This year, 20 Finovate alums made the cut. The individual influencers – as well as the companies they work for- are listed below.

As with last year’s roster, this year’s list was compiled by taking nominations submitted via Twitter, LinkedIn, and at oneworldidentity.com. The staff and advisory council for One World Identity whittled down the initial list of more than 1,000 nominees to a final 100.

One World Identity began as a project from a group of Google employees back in 2015. The company was officially launched the following year as a way to help spur innovation and collaboration in the field of digital identities. Travis Jarae is founder and CEO.

Spring Forward: FinovateSpring 2016 Alums Top $200 Million in Funding

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With FinovateSpring 2017 coming next month, we thought we’d take a look back at how the alums from our last spring conference a year ago have fared on the fundraising front.

And after a quick review, it seems that investors continue to be interested in the innovations of Finovate alumni. In fact, even without the $1.8 billion Golden Gate Capital spent on its acquisition of Neustar late last year ($2.9 million with debt included), the alums from FinovateSpring 2016 have had an impressive year of fundraising. While the specific funding amounts for a number of alums were not officially disclosed, our review shows more than $200 million raised by 20 FinovateSpring 2016 alums over the past year alone.

Among the bigger deals of the past year, the $72 million raised by OurCrowd stands out. OurCrowd, a crowd investing platform for venture capital, was founded in 2013 and is headquartered in Jerusalem, Israel. With a growing network of more than 17,000 investors, OurCrowd has raised $400 million on its platform, providing funding for 110 companies. Also noteworthy was the $29 million raised by FinDEVr/Finovate alum NYMBUS in two separate fundings in August and February. NYMBUS is an innovator in developing advanced, cloud-based core banking systems. Known as a “bank in a box” NYMBUS technology gives smaller banks and credit unions the ability to compete with larger FIs when it comes to providing customers with the latest digital banking services.

So to help get you ready for FinovateSpring 2017, here’s a list of the investments scored by alums from last year’s conference. And remember you can see live demos from all 20 of our fundraising FinovateSpring 2016 alums in our Video Archives.

February 2017

  • FinDEVr New York Alum NYMBUS Announces $16 Million in New Funding
  • Qumram’s Regtech Offering Lands $1.49 Million
  • Empyr Raises $3 Million in Funding

January 2017

  • ForwardLane Raises $1.1 Million in New Funding
  • Earnix Receives $13.5 Million in Growth Capital from New and Existing Investors

December 2016

  • Cyberfend Acquired by Akamai Technologies for Undisclosed Amount

November 2016

  • Sezzle Raises Seed Funding Ahead of Shopify Debut ($1.85 million)
  • Neustar Acquired by Golden Gate Capital for $1.8 Billion (including debt $2.9B)

October 2016

  • ThreatMetrix Picks Up $30 Million in Growth Capital from Silicon Valley Bank (debt financing)

September 2016

  • OurCrowd Pulls In $72 Million
  • WealthForge to Raise $2.5 Million in New Convertible Note Offering
  • OneVisage Earns Seed Funding in Round Led by Polytech Ecosystem Ventures (amount undisclosed)

August 2016

  • CUneXus Closes $5 Million Series A
  • Automobile Title Lending Platform Finova Financial Raises $52.5 Million
  • NYMBUS Raises $12 Million in Round Led by Vensure Enterprises

July 2016

  • Linqto Announces New Venture Funding from Keiretsu Capital (amount undisclosed)

June 2016

  • NICE Funding! CallVU Raises $3 Million
  • Civic Announces New Debt Financing from Blockchain Capital (amount undisclosed)
  • savedroid AG Completes €1 ($1.1 USD) Million Seed Round; Announces Beta Launch
  • Cyberfend Earns Undisclosed Non-Equity Assistance from MasterCard Start Path Global Program.
  • BanQu Secures $100,000 in Financing (convertible note)

Are you a FinovateSpring 2016 alums whose funding we missed? Send us an email research@finovate.com and we’ll be happy to make the update.

Finovate Alumni News

On Finovate.com

  • “SigFig to Power Digital Wealth Management for Citizens Bank”

Around the web

  • IBM helps The Mahindra Group test blockchain technology to innovate supply-chain finance in India.
  • Digital River World Payments integrates its online payments platform with ACI PAY.ON Payment Gateway from ACI Worldwide.
  • Bank Innovation looks at the Secure Private Login launched by Civic.
  • Avoka wins AWS financial services competency status with its account-opening solution.
  • Kasasa named a BankNews Innovative Solution Award Winner.
  • PayPal revamps its business app with new capabilities.
  • CAN appoints Parris Sanz, chief legal officer, as the company’s interim CEO while CEO Daniel DeMeo takes a leave of absence.

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

Finovate Alumni News

On Finovate.com

  • H2 Ventures and KPMG Unveil 2016 Fintech 100

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to U.K.’s high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.
  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • FIS to provide reconciliation solution to U.K.-based Raphaels Bank to facilitate access to faster payments.
  • PayStand offers payment certification and notarization for its customers via the blockchain.
  • PrivatBank adds fund-transfer functionality via iMessage to its Privat24 mobile banking app.
  • ThetaRay unveils its analytic platform for fraud detection, THETA.

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 Debuts: Civic’s Identity Verification App Launches Public Beta

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Identity network and fraud prevention company Civic offers a service that helps consumers confirm the use of their identity in real time. Today the company beta-launched its free consumer-facing app, marking the public availability of its identity network.

Civic debuted at FinovateSpring 2016 to help solve the person-not-present (PNP) problem (yes, CEO Vinny Lingham coined that phrase). “We’ve created a real-time identity-alerts service,” Lingham said at the start of his demo. He went on to explain how the company seeks to help consumers manage their identities by having more control over the use of their Social Security number.

Civic users receive a $1 million identity-theft-protection policy, plus access to a free identity-theft consultant-hotline. Both services are good for the life of their membership. Users receive a push notification or email each time their Social Security number is used with one of Civic’s partners. Civic’s partners currently include background checking services GoodHire and Onfido. The company is working to add more.

For more advanced security, users can request to approve or deny a transaction using a two-way authentication process on the mobile app. Banks that pay Civic a small fee receive an alert when the consumer denies a transaction, notifying them of potentially fraudulent purchases.

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Company facts:

  • Headquartered in Palo Alto, California
  • Founded in 2015
  • $2.75 million in funding raised
27162806296_e2609a6ee8_kCivic CEO Vinny Lingham and CTO Jonathan Smith demonstrated Civic’s Identity Verification app at FinovateSpring 2016.

Lingham_HeadshotWe interviewed Civic’s CEO Vinny Lingham, an entrepreneur who has founded three startups, including digital gift-card platform Gyft. Prior to founding Civic, Lingham was senior vice president of product development at First Data.

Finovate: What problem does Civic solve?

Lingham: There are a few problems with how Americans currently use identity numbers:

  • The Social Security number system was not built for identifying people uniquely, it was built to track Social Security benefits. Over the course of time, it has become the standard for identifying someone, which has evolved into a situation in which people can easily impersonate someone else remotely. There are no barriers for someone to use your Social Security number online or provide your Social Security number over the phone.

  • If your Social Security number has been used by someone else, then you have no way of knowing. If you have signed up and pay for services to protect your identity, you are alerted [only after] the fraud has taken place, not as it’s happening. Civic’s vision is to give control back to the user by allowing them to confirm the use of their Social Security number. We see a world where your Social Security number will not need to be a number you hide; you could print it on your business cards if you like, but if anyone tries to use it, you would have the ability to verify and stop the transaction before it happens.

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Finovate: Who are your primary customers?

Lingham: Civic appeals to anyone with a Social Security number who is seeking control over their personal data. Our service is ideal for individuals looking for a fresh and free alternative to traditional identity-theft-protection companies. Our mission is to provide members with real-time identity alerts and protection so that they can stop identity fraud before it happens.

Finovate: How does Civic solve the problem better?

Lingham: While there are many services that offer various types of identity protection, Civic is the only company that gives the user control over their own identity AND provides the service for free—making our overall approach to identity theft unique within the industry.

Finovate: Tell us about your favorite implementation of your solution.

Lingham: We have partnered with background checking companies such as Onfido and GoodHire, which allow consumers to be notified when background checks are conducted on them.

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Finovate: What in your background gave you the confidence to tackle this challenge?

Lingham: The previous company that I founded, Gyft, is one of the leaders in mobile and digital gift cards. Gift cards happen to be one of the biggest categories for online fraud, and we had to build robust systems to deal with it. After witnessing the challenges of online fraud, I realized that identity theft is a major problem, which is why we have so much fraud online. I set out to solve this problem.

Finovate: What are some upcoming initiatives from Civic that we can look forward to over the next few months?

Lingham: We have some really exciting technology developments in the pipeline that will give members a greater level of privacy and identity protection that has not been previously possible. We are excited to roll out these developments later this year.

Finovate: Where do you see Civic a year or two from now?

Lingham: Although we have a long-term vision for the company, right now, we want to ensure members trust us to help secure their personal information and monitor the use of their identities. Once we can win in that space, we believe that we can build a multitude of products that will change the way that society functions.

Finovate Alumni News

On Finovate.com

  • MaxMyInterest Unveils Laser App Integration to Speed Onboarding
  • Finovate Debuts: Civic’s Identity Verification App Launches Public Beta
  • BlueVine Increases Maximum Credit Line, Appoints New Chief Revenue Officer
  • Capriza Raises $23 Million in Series C

Around the web

  • Mashable features P2Binvestor CEO Krista Morgan for something outrageous she said at FinovateSpring 2013.
  • Institutional Investor features entrepreneurs from 4 Finovate alums in the 2016 Tech-50 list of fintech technologists.
  • More Than 25 Financial Institutions Select Malauzai’s SmartwebApps for Desktop
  • Cortera appoints Bob Maguire as chief revenue officer.
  • Zopa names Ronen Benchetrit as CTO.

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.

FinovateSpring Sneak Peek: Civic

CivicHomepage

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals, May 10 & 11. Register now.

Civic is a personal identity-protection and -management service that allows banks, financial institutions and other merchants to confirm the usage of a SSN with the true owner of that SSN before creating new accounts.

Features:

  • Significantly decreases new account fraud and dramatically reduces identity theft
  • Allows for real-time identity confirmation
  • Stops fraud before it happens

Why it’s great
Civic is free to consumers for life, and we provide up to $1 million of free credit-protection insurance once a consumer has been verified via our website or mobile app.

CivicPresenter

Presenter: Vinny Lingham, CEO
Currently, Lingham is the CEO and co-founder at Civic. He also works as the director of the Bitcoin Foundation and is an angel investor. He has previously worked as SVP of product development at First Data Corp and served as CEO and co-founder at Gyft, sold to First Data Corp. in 2014.
LinkedIn


Check out the rest of today’s Sneak Peeks:

Finovate Alumni News

On Finovate.com

  • “Live Trading Launches on SwipeStox for iOS & Android”
  • “Finovate Debuts: SBDA Group Turns Raw Banking Data into Targeted Marketing”

Around the web

  • D3 Banking subscribes to market intelligence solution, FI Navigator.
  • California-based Yolo FCU chooses Insuritas to open and run its turnkey insurance agency.
  • Oregon’s Rivermark Community CU to deploy online and mobile banking solutions from Digital Insight.
  • PayNearMe facilitates users to pay for their taxes in cash.
  • Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association.

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.