Finovate Alumni News

On Finovate.com

  • Feedzai Brings Automated Machine Learning to the Fraud Fight.
  • DriveWealth and Bambu Join Forces on Roboadvisory Tool.

Around the web

  • Your Legacy Federal Credit Union to deploy core account processing technology from Fiserv.
  • CYBG (Clydesdale Bank and Yorkshire Bank) partners with The ID Co. to integrate DirectID into CYBG’s B mobile banking app.
  • Coinbase unveils crypto plugin to make it easier for e-commerce merchants to accept cryptocurrency payments.
  • Bloomberg: Quantopian makes $50 million allocation to one of its quants.
  • OurCrowd named Most Active Venture Investor in Israel by PitchBook.
  • Jack Henry & Associates and Mastercard deliver Priceless Surprises campaign to 1.8 million cardholders.

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.

DriveWealth Closes $21 Million in Funding

DriveWealth Closes $21 Million in Funding

Wealthtech company DriveWealth has closed a Series B round of funding this week. The $21 million investment was led by Raptor Group Holdings, SBI Holdings, and Point72 Ventures. Existing investor Route 66 Ventures also participated. This brings the company’s total funding to just shy of $30 million.

DriveWealth will use the funds to enhance its existing products. The New Jersey-based company offers a suite of APIs that help online brokers, digital advisors, and financial services companies access the U.S. securities market. DriveWealth also has an API that allows partners to integrate native investment experiences into their own mobile applications. Among the company’s investment offerings are real-time, dollar-based investing capabilities that enable any investor to own shares in U.S. equities, regardless of stock price or deposit size.

Robert Cortright, CEO of DriveWealth, said that the company’s mission is to “provide global partners low cost, frictionless access to wealth building products.” He added, “Our solutions provide our partners native integration into their customer facing, mobile applications and reimagine investing for the clients they serve.”

As you may expect, today’s investors had positive things to say about DriveWealth and its business model. Yoshitaka Kitao, Chairman of SBI Holdings commented: “As a pioneer of internet-based financial services, we are excited to add DriveWealth to the world’s first ‘financial ecosystem’ that SBI has now expanded from Japan to worldwide.” Pete Casella, Head of Fintech Investments at Point72 Ventures, said, “DriveWealth has built a world class tech-driven brokerage stack that allows fintech firms to incorporate a wide range of investments capabilities into their product offerings.”

Founded in 2012, DriveWealth’s clients include MoneyLion, a lending and wealth management app, and INVSTR, a U.K.-based stock trading application. At FinovateAsia 2016, the company released a new API to enable partners to offer a robo advisory product suite and a self-directed equity investing platform. In 2016, the company partnered with Alkanza to bring robo advisory solutions to Latin America.

Finovate Alumni News

On Finovate.com

  • DriveWealth Closes $21 Million in Funding.
  • Symbiont Brings the Blockchain to Mortgagetech in New Partnership with Raneiri Partners.
  • Micronotes to Scale AI-Enabled Marketing Platform with $3 Million in Funding.

Around the  web

  • nCino appoints James Peverell as General Manager, EMEA, and Hali Kahn as Regional Vice President.
  • Finastra named a Category Leader in the Chartis Hedge Fund Risk Management Quadrant in the Hedge Fund Risk Management Technology 2018 report.
  • Comarch wins award from the Italy Protection Forum for innovation in digital transformation of insurance companies.
  • Insuritas to power digitally powered insurance agency for Priority Bank.
  • Kofax reports that 50% of top U.S. life insurers leveraging TotalAgility.
  • Temenos tables takeover of Fidessa.
  • FierceCEO features DefenseStorm CEO Sean Feeney.

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

  • Truphone Raises $339 Million to Fuel Global Expansion.
  • Best of Show Winner Voleo and Nasdaq to Launch Equity Trading Competition.

Around the web

  • New York Life launches student loan repayment program; partners with Student Loan Genius.
  • NCR unveils new mPOS solution, Ring Up, designed for U.S. micro businesses.
  • Invstr to offer fractional share trading via partnership with DriveWealth.
  • MarketEarlybird announces availability on cloud-based workflow and collaboration platform, Symphony.
  • Quadient (formerly GMC Software) expands Partner Advantage Program.
  • Top Image Systems eFLOW Remit tops 50 billion transactions.
  • Ondot Systems brings its card control technology to Access Softek mobile banking platform.
  • Pendo launches Pendo Machine Learning Platform (PMLP).
  • ICBA adds CECL Solution from ProfitStars to Preferred Service Provider Program
  • Finastra adds three new CU clients
  • Kony to power next-gen digital platform for NRT and Sightline.
  • Pendo Systems selected by SWIFT as One of 16 Fintechs to Exhibit at SIBOS 2017.
  • 35 Finovate alums named in IDC Financial Insights’ top 100 fintech rankings

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.

FinDEVr APIntelligence

We saw some great stuff at FinDEVr New York last week; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

Alumni updates

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.
  • BBVA among the latest companies to join Hyperledger.
  • MasterCard introduces new fraud detection solution, Decision Intelligence.
  • Credit Donkey lists StockTwitsDriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Forrester recognizes FinDEVr newcomer Outsystems as a leader in low-code development platforms.
  • E-commerce services from Vantiv achieve Oracle Validate Integration. Video of Vantiv’s FinDEVr 2017 New York presentation will be available soon.
  • VISA to enable electronic business payments for SME clients of B2B electronic invoicing network, Viewpost.
  • Fiserv reports nearly 30 banks and CUs deployed its digital banking technology in 2016, taking the total number of FIs using its online banking solutions to 3,500.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com:

  • Twitter Talk from FinDEVr 2017 New York.

Around the web

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Credit Donkey lists StockTwits, TradeKing, SigFig, DriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub. Video of IBM’s FinDEVr 2017 New York presentation last week will available soon in our video archives.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.

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.

All News is Good News from 2016 FinovateEurope Best of Show Winners

All News is Good News from 2016 FinovateEurope Best of Show Winners

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At FinovateEurope 2016, six companies took home Best of Show trophies after an audience vote favored their seven minute demos on the Finovate stage in London. FinovateEurope returns to London in less than two weeks, on February 7 and 8, where we’ll see 55 companies debut their newest technology and vie for a chance to win the audience’s vote for Best of Show. Tickets are still available. Register to save your spot today.

Today, we’re taking a look at the successes from the six Best of Show-winning companies from last year.


25107877391_5fb99d5838_kCapitali.se
Offers natural language trade automation for automatically managed investment portfolios
Demo video

What’s new:

  • Recognized by PYMNTS.com as representing fintech innovation in Israel
  • Cited as a top B2B wealth tech player
  • Listed by The Next Web as 1 of 6 fintech startups to help you make the most of your money

DriveWealth25201110835_5b8991a5e9_k
Enables real-time fractional share investing and trading in U.S. equities for mass retail investors
Demo video

What’s new:

  • Brought Roboadvisory to Latin America in new partnership with Alkanza
  • Added a new real-time margin feature
  • Expanded APIs for wealth managers
  • Brought robo advisory to China in new partnership with CreditEase
  • Inked new partnership with Stoxs

25174331736_4f20b80c80_kEyeVerify
Offers a scalable biometric authentication solution
Demo video

What’s new:

  • Acquired by Ant Financial
  • Partnered with Bioconnect to boost payment security
  • Selected by Wells Fargo for its biometric authentication technology

24905480290_e037cec5e7_kIDScan Biometrics
Offers a digital onboarding suite with facial recognition technology
Demo video

What’s new:

  • Acquired by GBG Group
  • Included in Mercator Advisory Group’s biometric authentication report

 


SwipeStox
Offers a mobile, social trading 25082834042_60b88fc576_kapp that enables users to copy single trades of other users
Demo video

What’s new:

  • Won Digital Top 50 Award
  • Won Wolves Summit 2016
  • Launched WebTrader to expand beyond mobile
  • Launched Live Trading on its app

The sixth Best of Show winner, Valuto, shut down in August of 2016. Its parent company Currency One cited “an unsatisfactory pace of development” as the reason for the closure.

DriveWealth Brings Roboadvisory to Latin America in New Partnership with Alkanza

DriveWealth Brings Roboadvisory to Latin America in New Partnership with Alkanza

driveweath_homepage_october2016

This summer, Best of Show winner DriveWealth announced a partnership with Chinese marketplace lender and wealth manager CreditEase to bring roboadvisory to China. Today we learn the innovative broker-dealer has made a deal with Silicon Valley-based Alkanza to bring similar services to Latin America.

DriveWealth founder and CEO Robert Cortright credited his company’s platform for helping bring access to U.S. equities to “investors everywhere, at every income level.” Cortright said, “Our partnership with Alkanza makes it possible for investors in Latin America not only to gain access to the U.S. stock market, but also have their portfolios be managed by experienced professionals for an affordable cost.”

drivewealth_stage_feu2016

DriveWealth Chief Information Officer Harry Temkin demonstrated Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016.

This combination of access and advisory is what Andrés Villaquiran, founder and CEO of Alkanza, praised in his firm’s new partnership with DriveWealth. “By marrying our premium investment advisory programs with DriveWealth’s low-cost access to U.S. securities,” Villaquiran said, “our Latin American clients can now add a unique investment option to their investment plans.” Alkanza will use DriveWealth’s wealth management APIs, which were launched earlier this year. Advisers will be able to offer their clients varying levels of support: non-discretionary, blended, and fully discretionary—the latter level giving Alkanza full management, trading, and rebalancing of client portfolios. Alkanza will first offer the new services in Argentina and Chile.

DriveWealth demonstrated its Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016, winning Best of Show. In August, the company added real-time margin to its platform. DriveWealth was founded in 2012 and is headquartered in Chatham, New Jersey. The company will be making its FinDEVr debut next week at FinDEVr Silicon Valley. For more information, visit our FinDEVr page. To pick up your ticket and save your spot, visit our registration page.

Finovate Alumni News

On Finovate.com

  • FinDEVr Silicon Valley: When You’re a Dev, You’re a Dev All the Way
  • DriveWealth Brings Robo-advisory to Latin America in New Partnership with Alkanza. See DriveWealth make its FinDEVr debut next week at FinDEVr Silicon Valley 2016.

Around the web

  • Personetics launches Chatbot Bootcamp.
  • Klarna unveils online retailer financing.
  • ACI Worldwide to provide back-end tech for TransferWise’s integration into the Faster Payments Scheme.

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.

DriveWealth Adds Real-Time Margin

DriveWealth Adds Real-Time Margin

DriveWealth_homepage_August2016

Margin calls—the “friendly” shoulder-tap from your brokerage that means you’re in a losing investment position and your broker needs more capital to cover it—are the bane of every trader and investor who uses leverage. But for those on the DriveWealth platform, the technology’s new real-time margin feature all but makes traditional margin calls a thing of the past.

Instead of calculating margin requirements only once a day like most traditional brokerages, DriveWealth’s real-time margin will recalculate and update margin requirements over the course of the trading day. This intra-day limiting of purchasing power makes it less likely that an investor will be forced to liquidate holdings or come up with additional capital to satisfy a margin call. Robert Cortright, founder and CEO of DriveWealth said, “With the release of real-time margin, we are now giving investors who want to trade on leverage a way to increase control and decrease risk relative to traditional margin accounts.”

DriveWealth_stage_FEU2016

From left: CIO Harry Temkin with Michael Fitzgerald, head of corporate strategy, demonstrated DriveWealth’s real-time fractional trading with Passport 2.0 at FinovateEurope 2016.

Using margin is admittedly a strategy for experienced investors: Even seasoned professionals often find themselves suddenly forced to sell other positions or raise cash to defend a losing leveraged investment. In addition to giving investors greater protection against intra-day market risk, real-time margin also promotes a more efficient market, limiting buying power intra-day when volatility rises rather than waiting for an urgent, late-in-the-trading-day phone call from the brokerage. Real-time margin is available via API for DriveWealth’s partners as well as a feature on the app.

Founded in May 2012 and headquartered in Chatham, New Jersey, DriveWealth pioneered the use of APIs and cloud-based technologies as a way to provide international investors and traders access to the U.S. equities market. The company’s mobile-first, full-stack platform includes real-time fractional share trading, which it demonstrated earlier this year at FinovateEurope, winning Best of Show.

In what has been a busy year for DriveWealth, the company expanded its APIs to support investment advisers in August, teamed up with CreditEase to bring robo-advisery to China in June, and partnered with Australian fintech company Stoxs to provide Australian investors with access to U.S. stocks in February. DriveWealth has raised more than $8 million in funding, and includes Fenway Summer Ventures, Route 66 Ventures, and SenaHill Partners among its investors.

Find out more about how companies like DriveWealth are building APIs that help connect investors and markets at our upcoming developers conference, 18/19 October, FinDEVr Silicon Valley 2016.

Finovate Alumni News

On Finovate.com

  • Fintech Trending: Look Who’s Chasing Venmo, Student Loan Servicing Falls Short
  • DriveWealth Adds Real-Time Margin

Around the web

  • The Times of India examines the role Ripple can play in reducing the costs of overseas remittances.
  • iSignthis integrates its digital KYC technology with Ixaris.
  • Axis Bank’s Tagit-powered app adds augmented reality.
  • Cortera announces 100th release of its Cortera Pulse product.
  • Quisk rolls out mobile-money platform at National Commercial Bank Jamaica Limited.
  • Philadelphia Business Journal names eMoney Advisor one of the “Best Places to Work” in Philadelphia.

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

  • NYMBUS Raises $12 Million in Round Led by Vensure  Enterprises
  • CardFlight to Power EMV Mobile Processing for BluePay
  • Bento for Business Unveils New Mobile App

Around the web

  • Investopedia features Zooz and ThetaRay in a look at Israeli fintech startups.
  • National Bank of Kuwait goes live with Temenos Treasury Trader.
  • Compass Plus earns Faster Payments accreditation.
  • InformationWeek lists CrowdFlower in its lineup of cool machine learning startups to watch.
  • Ping Identity launches Contextual Access Management capabilities to help companies with digital transformation and cloud and mobile initiatives.
  • GeekWire features Tango Card. Watch the startup’s live demo at FinovateFall next month.
  • Kony enhances support for applications running on Amazon Web Services (AWS) and updates offerings in AWS Marketplace.
  • ThreatMetrix appoints key executives to initiate Asia Pacific expansion.
  • TradingView announces support for DriveWealth.

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.