Finovate Alumni News

On Finovate.com

  • Finovate Global: Nigerian Fintechs Near $400m Week; Ant Financial Eyes License in Singapore
  • Tyro Payments Preps for IPO
  • FinovateMiddleEast Best of Show Winners Announced.

Around the web

  • CurrencyFair introduces cross-border collections solution for marketplaces; inks partnership with Chinese wholesale marketplace, Buy-World.
  • Enveil wins $1 million contract from the Air Force Life Cycle Management Center (AFLCMC) to improve supply chain security.
  • MoneyHub, Salt Edge, Direct ID, and Plaid earn finalist spots in the Financial Data & Technology Association (FDATA) Awards 2019.
  • Chatbots.Studio to provide chatbot templates for Colvir Software Solutions end clients.
  • doxo expands doxoINSIGHTS to 900 cities.
  • Plaid makes inroads into France, Spain, and Ireland.
  • myGini named to the Benzinga Global Fintech Listmakers and recognized as a Best Payments App.
  • BodesWell joins FinMason’s FinSpring accelerator program

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

Around the web

  • Axxcess Wealth selects HiddenLevers to build asset manager allocation workflow.
  • West Community Credit Union now offers Plinqit savings app.
  • Doxo adds National Grid as new utility on its mobile and web bill payment app.
  • KKR joins Artivest’s platform for private alternative investments.
  • BlueRush sells software assets to Broadridge for $1.7 million (C$2.3 million).
  • Clickswitch moves to new headquarters in Minneapolis’ North Loop.

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.

doxo and Plaid Team Up to Bring Overdraft Protection to Billpay

Online and mobile billpay innovator doxo has announced a new integration with financial services data and insights network – and fellow Finovate alum – Plaid – that will help consumers avoid overdraft charges when paying bills via doxo’s service.

“doxo’s mission is to massively simplify bill payment and reduce anxiety of failed payments and overdraft fees,” doxo CEO and co-founder and Steve Shivers said. “Through this new integration with Plaid, we’re now providing real-time bank balance, at the time of every payment, to help our users avoid those fees. Now users can better time their payments to align with their bank balance, or switch to alternative payment accounts like credit cards when needed.”


In addition to providing transparency, better organization, and less stress for consumers, doxo believes billers will benefit from the improved confidence they will have for each incoming payment. Billers who join doxo’s payment network will be able to add the overdraft protection feature as a user benefit easily, without complexity or expense.

doxo will make the new solution available initially as a beta offering for a limited group. The company anticipates expanding access to all of its customers beginning in June.

“Account overdraft is a huge problem in the U.S. that could be solved in part with more tools that provide real-time insight into consumers’ own bank accounts,” Plaid Head of Sales Paul Williamson said. “Solutions that give people transparency into their financial life are a real win for consumers and can make a serious impact on their ability to understand and manage money.”

doxo made its first Finovate appearance in 2011, demonstrating the web-based Control Panel interface of its technology, and returned to the Finovate stage this week as part of FinovateSpring. Plaid is an alum of our developers conference, presenting Plaid: API for Financial Infrastructure at FinDEVr Silicon Valley 2014.

San Francisco, California-based Plaid was founded in 2013. The company began 2019 with a major acquisition, purchasing rival and fellow Finovate/FinDEVr alum Quovo for $200 million. Named to the Forbes Fintech 50 in February, Plaid has raised more than $309 million in funding from investors including New Enterprise Associates, Kleiner Perkins, Index Ventures, Spark Capital, and Goldman Sachs Investment Partners.

Founded in 2008 and headquartered in Seattle, Washington, doxo launched itsdoxoINSIGHTS report last month. DoxoINSIGHTS is an anonymized, crowdsourced report on household expense data from the largest 25 metropolitan areas of the U.S.

In March, doxo added Apple Pay as a billpay option for its customers – the same month the company announced a partnership with R.R. Donnelley & Sons Company to provide the firm’s clients with access to doxo’s electronic billpay solutions. Winner of a Gold Stevie award from the American Business Awards last year, doxo serves more than 2.5 million users who make payments to more than 45,000 local and national businesses.

doxo has raised $18.8 million in funding, and includes Sigma Partners, Bezos Expeditions, and Mohr Davidow Ventures among its investors.

Finovate Alumni News

On Finovate.com

  • Simple’s Payments Go Analog with Paper Checks.
  • Fenergo Supports Bahrain’s Blockchain-Based KYC.
  • Flywire Offers Chinese Students and Patients Discounted FX Rates.
  • doxo and Plaid Team Up to Bring Overdraft Protection to Billpay.

Around the web

  • ACI extends partnership with Vocalink into Saudi Arabia to facilitate the adoption of real-time payments through ACI’s UP Real-Time Payments solution.
  • First National Bank selects ProfitStars’ Commercial Lending Center Suite.
  • Centrale Kredietverlening selects nCino for its Bank Operating System.
  • Wipro develops blockchain-based solution with R3 to power digital currency transactions for Thailand banks.
  • Klarna and Stripe partner to offer Klarna’s Pay in 3 to Hideout festivalgoers through ticketing platform Kaboodle.
  • Forbes highlights BioCatch’s behavioral biometrics fraud prevention technology.
  • Insuritas and Tower Hill Specialty partner to bring Tower Hill’s property products to market through Insuritas’ bank partner network.
  • NIIT Technologies partners with Blue Chip to bring its wealth management application to Blue Chip’s IBM POWER.

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: doxo

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

doxo, the all-in-one web and mobile bill payment service, is partnering with Plaid to help prevent bank overdrafts when paying bills to over 45,000 billers.

Features

  • Consumers pay over $30 billion each year in overdraft fees
  • Seeing bank balance when paying bills results in fewer overdrafts
  • When information is transparent, consumers win

Why it’s great
Overdraft protection is another doxo feature reducing bill pay hassles for millions of users, and bringing these new benefits to the billers they pay.

Presenters

Steve Shivers, Co-founder and CEO
Shivers is co-founder and CEO of doxo, the all-in-one billpay service. Prior to founding doxo, Shivers held senior roles with OpenMarket, QPass, and Infospace.
LinkedIn

Jim Kreyenhagen, VP of Marketing and Consumer Services
Kreyenhagen is the VP of Marketing and Consumer Services at doxo, the all-in-one billpay service. He previously managed and grew web properties at Allrecipes, BookRags, and InfoSpace (HowStuffWorks).
LinkedIn

Finovate Alumni News

On Finovate.com

  • SoFi Goes InsurTech with Lemonade and Root.
  • Lending Club Shutters SMB Lending Arm, Redirects Customers to Other Lenders.

Around the web

  • elEconomista interviews Finect’s Antonio Botas (in Spanish).
  • YellowDog partners with DVE Advanced Systems.
  • Ixaris adds new Chief Legal and Compliance Officer Georg von Breven and Commercial Director Sean Ashton.
  • FICO unveils the latest version of its Decision Management Platform, FICO DMP.
  • Visa launches a suite of beta APIs and tools to help developers design and test payment solutions.

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.

Doxo to Provide Electronic Billpay Solution to R.R. Donnelley & Sons Company

Billpay solutions company doxo announced a new partnership with R.R. Donnelley & Sons Company (RRD) recently that will offer the marketing and communications solutions provider’s clients access to doxo’s electronic billpay solutions.

Tim Reedy, president of RRD Business Communications Solutions said, “We partnered with doxo because consumers are increasingly seeking a seamless, digital bill pay experience, and doxo has developed a capability that delivers that experience.” doxo’s secure payment solution enables customers to access and pay bills from more than 45,000 providers using a single set of login credentials. “Like our other business communications solutions, doxo integrates easily into our clients’ current workflows and processes to further enhance their communications program without any down time,” Reedy added.

doxo is compatible with existing billing systems and allows billers to electronically connect for free. The platform offers a simplified experience for end users and provides a complete online payment system for billers who have yet to go digital. Among the company’s list of billing partners are AT&T, National Grid, Puget Sound Energy, Kansas City Light, and more providers across finance, utilities, healthcare, telecom, banking, and insurance sectors.

Founded in 2008, doxo debuted its Control Panel at FinovateSpring 2011. The Seattle-based startup is among the companies that will take the Finovate stage at FinovateSpring to demo its newest technology. doxo has raised $18.8 million and counts Mohr Davidow Ventures, Sigma Partners, and Bezos Expeditions as investors.

Finovate Alumni News

On Finovate.com

  • Once SaleMove, Glia Raises $20 Million in Post-Rebrand Funding.
  • Doxo to Provide Electronic Billpay Solution to R.R. Donnelley & Sons Company.

Around the web

  • Low code development platform OutSystems reports record revenues for 2018.
  • NICE Robotic Process Automation (RPA) teams up with CallVU.
  • Finastra named a leader in the IDC MarketScape: Worldwide End-to-End Corporate Banking Solution Providers 2019 Vendor Assessment report.
  • Kony named a leader for low-code development platforms by independent research firm.
  • OurCrowd announces it has raised $1 billion to date.

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

  • BILLSHARK and Payrailz Team Up to Help Consumers Save on Monthly Bills.
  • Hyperwallet Sells to PayPal for $400 Million.
  • SmartAsset Scoops Up $28 Million in New Funding.

Around the web

  • Pindrop launches new risk-based authentication solution for call centers, Pindrop Express.
  • NCR and Tata Consultancy Services (TCS) announce strategic alliance.
  • PayPal acquires Hyperwallet for $400 million in cash.
  • Hancock Whitney Bank picks Envestnet platform to support its broker-deal and trust businesses.
  • U.S. Bank partners with FutureAdvisor to develop Automated Investor, a digital wealth management tool.
  • doxo honored as Gold Stevie Award Winner in 2018 American Business Awards.

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.

doxo Teams with Coinstar to Facilitate Cash Payments for Underbanked

Consumer billpay platform doxo has found a way to reach the unbanked population. The Seattle-based company announced a partnership with Coinstar, a self-service coin-counting kiosk enterprise.

Through the partnership, doxo users can use cash to pay any of the 45,000 local and national billers in doxo’s network at Coinstar locations across the U.S. Jim Gaherity, CEO of Coinstar, said: “doxo’s extensive biller directory, combined with our national network of Coinstar kiosks, brings a new level of ease and accessibility for bill pay, and we’re excited to offer this capability to our customers.”

And for many consumers, cash is still king. There are 34 million unbanked or underbanked households across the U.S. and more than $235 billion in bill payments are made with cash each year. Steve Shivers, CEO and co-founder of doxo said, “For billers, providing an easy way for their customers to pay with cash is not only a valuable service, but helps keep accounts current. Our partnership with Coinstar provides this opportunity with very little effort on the part of billers.”

Customers who want to pay bills in cash select Pay Bills with Cash at Coinstar as the payment option at a participating biller’s website. Then, the consumer visits a Coinstar kiosk, selects their biller, and inserts cash into the machine. A payment receipt is printed with a code that the customer can use to track their payment delivery on doxo’s portal. Coinstar has a network of 20,000 kiosk locations, and doxo’s bill payment option will be available at 7,000 of those units by the end of the year.

While the number of services for the underbanked population is on the rise, there are not many that enable consumers to pay for online or remote services for cash. In fact, doxo’s only competitor in this space may just be PayNearMe, a company founded in 2009 that allows unbanked consumers to pay for e-commerce, transportation, and a limited number of billers in cash at 7-Eleven and Ace Cash Express stores.

doxo is compatible with existing billing systems and allows billers to electronically connect for free. The platform offers a simplified experience for end users and provides a complete online payment system for billers who have yet to go digital. Among the company’s list of billing partners are AT&T, National Grid, Puget Sound Energy, Kansas City Light, and more providers across finance, utilities, healthcare, telecom, banking, and insurance sectors.

Founded in 2008, doxo debuted its Control Panel at FinovateSpring 2011. Last fall, the company surpassed 30,000 payable billers on its platform. doxo has raised $18.8 million and counts Mohr Davidow Ventures, Sigma Partners, and Bezos Expeditions as investors.

Finovate Alumni News

On Finovate.com

  • doxo Teams with Coinstar to Facilitate Cash Payments for Underbanked.
  • Agreement Express Lands Funding from Frontier Capital.
  • Low-Code Development Platform OutSystems Forges Strategic Partnership with Atos.

Around the web

  • Iowa City-based Farmers & Merchants and Savings Bank to deploy Fiserv’s retail and business banking platform.
  • Zopa announces restructuring in advance of the launch of its challenger bank.
  • PYMNTS.com features Trulioo CEO Stephen Ufford in a conversation about the present and future of KYC.
  • Santander introduces its Santander One Pay FX service, a blockchain-based money transfer offering that leverages Ripple’s xCurrent technology.
  • Meniga CEO Georg Ludviksson selected as one of top 200 Fintech leaders in Europe
  • NuCypher teams with Origin Protocol to control access to sensitive information in decentralized marketplaces.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.
  • PYMNTS.com profiles anti-cyberfraud startup, Emailage.

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

  • TSYS Tech Backs J.P. Morgan’s Commercial Virtual Card Issuance.
  • Finovate Alums Larsen, Garlinghouse, Armstrong Among Crypto’s Richest.
  • NCR Overhauls Self Service Network for Oman’s Bank Dhofar; Expands ATM Access in India.

Around the web

  • Revolut partners with Visa to issue prepaid cards to new customers.
  • Call Centre Helper interviews Mike Iacobucci, Interactions CEO.
  • SMArtX (formerly HedgeCoVest) expands Direct Indexing Platform.
  • doxo surpasses 3 million users and 45,000 payable billers.
  • Army Aviation Center FCU ($1.2 billion in assets) launches member owned full service insurance agency courtesy of Insuritas.

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.