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.

DriveWealth Expands APIs for Wealth Managers

DriveWealth Expands APIs for Wealth Managers

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DriveWealtha company that offers retail investors around the world access to the U.S. equities market, announced the expansion of its suite of APIs to support investment advisers.

The New Jersey-based company is adding to its flagship investing platform by creating a set of wealth management APIs aimed at helping advisers build portfolios for their clients. The APIs, which are available to U.S. investment advisers and their international customers, will have fractional shares capability and access to U.S. equities.

The APIs offer three tiers of service:

  1. Make recommendations to clients, who implement the strategies on their own
  2. Make initial recommendations supported by automatic portfolio rebalancing
  3. Provide clients with a fully discretionary solution

“[Investment advisers] can streamline their workflow because our Wealth Management APIs seamlessly integrate real-time fractional share technology, allowing advisers to deploy one investment strategy across multiple accounts, regardless of a client’s investable assets,” said Harry Temkin, chief information officer at DriveWealth. “Advisers can choose to manage their clients’ accounts in a discretionary, non-discretionary, or blended environment to create weighted, customized portfolios.”

Founded in 2012, DriveWealth debuted real-time fractional trading at FinovateEurope 2016 in London. Earlier this summer, the company announced partnerships with Credit Ease and CaiGin International, two wealth management firms in China. DriveWealth also disclosed it has agreements in place with “several other” RIAs and wealth managers that will launch in the fall.

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: How the Kore Bots Deliver More than Your Average Chatbot
  • DriveWealth Expands APIs for Wealth Managers
  • Braintree, Finicity, and Twilio Take Top Honors at API World Awards

Around the web

  • BankBazaar wins “Emerging Brand of the Year” and “CEO of the Year” at seventh CMO Asia Awards.
  • Fintech News Switzerland highlights Currency Cloud and Zopa in a look at London’s top rising fintech stars.
  • Boku brings direct carrier billing to Windows 10 phones in the United Kingdom and Italy.
  • Markit enhances WSO software suite to offer new levels of automation for syndicated loan market.

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 Brings Robo-Advisory to China in New Partnership with CreditEase

DriveWealth Brings Robo-Advisory to China in New Partnership with CreditEase

DriveWealth_homepage_June2016

The robo-adviser wave rolls on as Finovate Best of Show winner DriveWealth announces that its launch of a new solution designed for Chinese investors called ToumiRA. DriveWealth—partnering with Chinese marketplace-lender and wealth-manager CreditEase to deploy the robo-adviser technology—will serve as the U.S. broker.

“We believe that everyone should have the ability to own a globally diversified portfolio that suits their needs, and the ToumiRA product allows Chinese investors to do just that in a simple and intuitive environment,” DriveWealth Founder and CEO Robert Cortright said. ToumiRA CIO Frank Wang said the partnership will make it possible for investors to have more personalized asset allocations and more diversified portfolios, particularly due to the access to U.S. equities DriveWealth provides.

DriveWealth_stage_FEU2016

Pictured (left to right): DriveWealth Chief Information Officer Harry Temkin and Head of Corporate Strategy Michael Fitzgerald demonstrated Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016 in London.

DriveWealth is the first company to have both the regulatory authority and cloud-based technology to offer access to U.S. equity markets to investors around the world. The company’s full-stack platform enables foreign banks and brokerages to offer customers dollar-based, mobile-first investing with features like real-time, fractional share-trading and best-bid pricing. Read our Finovate Debut post for more on DriveWealth

CreditEase lends to both small businesses and consumers, and is a standing committee member of China’s Internet Finance Industry Association and chairman of Beijing Marketplace Lending Association. The company celebrated its 10th anniversary on May 28. Ning Tang is founder and CEO.

Founded in 2012 and headquartered in Chatham, New Jersey, DriveWealth demoed its Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016. The company has raised more than $8 million in funding, with its most recent investment a $4.4 million Series A on April 2015 led by Route 66 Ventures. Earlier this month, DriveWealth partnered with Technician, giving its investors and traders access to the more than 80 financial indicators and charting options available on the Technician app. The company, which employs more than 30 and has more than 100,000 users in 150 countries, was recognized by Entrepreneur.com as one of five fintech companies “working to better your investing future.”

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: Payment Ninja Provides Free Payment Processing, Programmatic Remarketing for SMEs.
  • Alpha Payments Cloud Selected for Wells Fargo Spring Startup Accelerator.
  • Check out this week’s FinDEVr APIntelligence.
  • DriveWealth Brings Robo-Advisory to China in New Partnership with CreditEase.
  • Buzz Points Lands $1.8 Million in Funding.

Around the Web

  • Cater Allen Private Bank to implement new core banking system from Temenos.
  • Top five Israeli banks to build mobile check-deposit solution based on mobiFLOW SDK from Top Image Systems.
  • Zopa named Moneyfacts Personal Loan Provider of the Year 2016.
  • Trulioo enhances address validation in Global Gateway.
  • MX to power Homeownership Preservation Foundation’s digital money management app.
  • Tradestreaming profiles Payoneer and its role in online payments.
  • Banking technology from Infosys Finacle to help support payments and deposit products for Paytm.

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 Alums Earn Top Honors at 2016 Benzinga Financial Awards

Finovate Alums Earn Top Honors at 2016 Benzinga Financial Awards

Trunomi_homepage_June2016

Finovate alum Trunomi took home two awards at the 2016 Benzinga Fintech Awards this week. The KYC and data-sharing solution provider won first place in the Proprietary Technology & APIs and Most Promising Startup categories.

Also winning top honors were Loyal3, which took first place in the Leveling The Playing Field category, and SmartAsset, which won first place in the Best Educational Tools & Services category.

BenzingaFintechAwards2016

This year was the second for the Benzinga Fintech Awards. More than 250 companies from five countries competed for this year’s awards, including Founder of the Year which was awarded to TickerTags founder, Chris Camillo.

Other alums earning recognition were runners up PsychSignal (Finding Alpha category) and WealthForge (Lending & Alternative Investments category). TipRanks picked up a runners up spot in the Research Platforms, Apps & Tools category, as well as third place overall. DriveWealth earned an honorable mention in the Innovation in Mobile category for its Passport solution.

See the full list of 2016 finalists.

Jason Raznick, founder and CEO of Benzinga, congratulated this year’s winners and praised their “forward thinking and product development.” This year marked the second strong performance at the Awards from Finovate alums in general and TipRanks in particular, which in 2015 took top honors in Trade Recommendations category in 2015. Other alum winners from 2015 include Betterment, EquityZenLikeFolioMarket Prophit, Motif InvestingPersonal Capital, and HedgeCoVest, which won runners up in the Most Disruptive category, Best in Class in the Robo Advisor Tools category, and first place overall.

Finovate Alumni News

On Finovate.com

  • “FinovateSpring 2016: Tales from the Tweet Side”

Around the web

  • i-exceed Technology celebrates its fifth anniversary.
  • Quantopian launches weekend hackathon.
  • Xpenditure board member Jonas Dhaenens awarded ICT Personality of the Year by Data News.
  • BankNxt interviews Sebastian Siemiatkowski on the origins of Klarna.
  • Persado announces new Chief Operating Officer, Greg Dale.
  • Entrepreneur profiles DriveWealth and TD Ameritrade in a look at finalists for the Benzinga Fintech Awards 2016.

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.

Where Are They Now? FinovateSpring Alums Raise More than $326 Million in a Year

Where Are They Now? FinovateSpring Alums Raise More than $326 Million in a Year

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Last week we took a look at what the alums of FinovateSpring 2015 have been up to in the year since they demoed on the Finovate stage. Today, we’re focusing on the funding.

All $326 million of it.

Of the 72 companies that demoed at FinovateSpring 2015 in San Jose last year, 21 of them had raised capital within a year. Kabbage’s raise of $135 million certainly stands out. But the $25 million investment picked up by itBit in May of last year, as well as the $15 million raised by Trulioo and the $12 million raised by Moven were also major contributors to a strong fundraising performance from the Class of FinovateSpring 2015. And this doesn’t even include companies such as Yodlee, which was acquired by Envestnet for $660 million, or Aurora Financial Systems, bought by fellow Finovate alum, Finicity, for an undisclosed sum.

March 2016

January 2016

Dec 2015

October 2015

September 2015

August 2015

  • [M&A] Holy Yodlee! Envestnet to Buy Yodlee for $660 Million – video

July 2015

June 2015

May 2015

——-

FinovateSpring 2016 is less than a month away. Pick up your tickets today and save your spot at our upcoming spring conference in San Jose, California.

 

Best of Show Winner DriveWealth Inks New Partnership with Stoxs

Best of Show Winner DriveWealth Inks New Partnership with Stoxs

DriveWealth_homepage_Feb2016

Fresh off its Best of Show winning performance at FinovateEurope, DriveWealth has signed a new partnership that will make it possible for Australian investors to get access to American stocks

DriveWealth’s partner is Stoxs, a financial technology company based in Silverwater, New South Wales, whose investing platform is geared toward new and millennial Australian investors.

Speaking about the partnership, DriveWealth’s CEO and founder Robert Cortright referenced the millennial focus of Stoxs. “As wealth is transferred to the millennial generation, it is increasingly important to offer investing tools and solutions that cater to the digital, mobile lifestyle,” he said. Cortright emphasized the importance of both mobility and affordability when it came to bringing access to popular, widely traded U.S. stocks to millennial investors.

DriveWealth_stage_FS2015c

Pictured: Michael Fitzgerald, head of corporate strategy for DriveWealth, demoing his company’s Brokerage-as-a-Service platform at FinovateSpring 2015.

Kheang Ly, Stoxs founder and CEO, spoke to this point in his statement about the partnership with DriveWealth. “Investors use Facebook every day, go to the gym in their favorite pair of Nike sneakers, drink coffee at Starbucks and pay for things with PayPal,” he explained, “so individuals everywhere should have access to invest in these iconic brands.”

DriveWealth is a full stack, Brokerage-as-a-Service platform that leverages apps like Passport and Atlas, as well as APIs, to enable investors overseas to trade and invest in U.S. stocks. The company provides everything from customer onboarding to account funding to customers in more than 135 countries around the world. DriveWealth’s partners are able to offer their customers equities-trading for as little as $2.99 per trade ($4.95 in China) in popular American stocks like Nike and Starbucks.

DriveWealth_homepage_API_Feb2016

Read more about DriveWealth in their Finovate Debuts feature from last fall. Developers can learn more about the company’s APIs at its developer page.

DriveWealth was recently featured by Let’s Talk Payments in a look at millennials and investing. In January, the company partnered with StockRadar to give Chinese investors access to U.S. stocks. And late last year, DriveWealth added Carlo Macchi as Director of Global Accounts.

Founded in 2012 and headquartered in Chatham, New Jersey, DriveWealth demonstrated real-time fractional trading with its Passport 2.0 solution at FinovateEurope 2016 last month.

Finovate Alumni News

On Finovate.com

  • “Best of Show Winner DriveWealth Inks New Partnership with Stoxs”
  • CopSonic and Natixis Team Up to Launch UltraSound Payment Solution, SwipeSonic”
  • PayPal Unveils Carrier Partnerships, NFC Payment Capability”

Around the web

  • LockByMobile is working with Visa APIs to enhance consumer transaction controls.
  • Kasasa launches new auto loan direct marketing program, Kasasa Fuel.
  • GMC Software teams up with SundaySky to improve customer experiences via video.
  • Fiserv announces that 25 credit unions have committed to CUnify, its account processing platform.
  • Corezoid is among the first Ukranian startups to participate at Startup Grind (in Ukranian).
  • Xero teams up with Google, bringing gmail and Google Apps for Work to its platform.
  • Dashlane web engineer Thomas Guillory explains why his company is building its next web app using React.js.
  • FirstBank to deploy Transakt, a multi-factor authentication technology from Entersekt.

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

Around the web:

  • Fastacash to boost global growth via new partnership with mobile wallet provider, Cellum.
  • Let’s Talk Payments profiles LOYAL3, Motif Investing, Kapitall, DriveWealth, and eToro in a look at millennials and investing.
  • ATM Marketplace quotes Robb Gaynor of Malauzai Software on the importance of app design in the mobile UX, and Prairie Cloudware’s Michael Carter on the debate over branded mobile wallets and banking apps.

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.