Finovate Alumni News

On Finovate.com

  • Emailage Raises $10 Million in Round Led by Anthos Capital.

Around the web

  • Federacion Nacional de Cooperativas de Ahorro y Credito selects core banking technology from Temenos.
  • Azimo introduces “one hour or less” cash pick-up services in the Philippines.
  • ING Bank in Czech Republic to deploy decision management software from FICO.
  • Virtual StrongBox secures 5th patent for secure document exchange technology.

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

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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

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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.

 

Emailage Receives Strategic Investment from Wipro

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Arizona-based Emailage announced this week it has received an investment from Wipro Ventures, Wipro’s investment arm. The $4.8 million round is an extension of its Series A round originally made in November 2014. Wipro, the India-based information technology giant, becomes the eighth investor in Emailage.

In addition to the funding, the two companies have formed a partnership through which Wipro will offer Emailage’s email-address risk-evaluation solution to its customer network. Emailage debuted the browser extension for its risk-evaluation tool at FinovateSpring 2015. In October of 2015 the company partnered with Feedzai to bolster its fraud-prevention solution.

Founded in 1945, Wipro last demoed at FinovateEurope 2015, where it debuted Wipro ngGenie™ myAdvisor.

Finovate Alumni News

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • “Emailage Receives Strategic Investment from Wipro”
  • “CurrencyFair Raises €8 Million; Names New CMO”

Around the web

  • Xignite to provide free market data for FinTech Sandbox demo participants. Join Xignite in New York for FinDEVr next week.
  • 3dcart merchants gain access to end-to-end payment processing courtesy of Braintree. See Braintree’s presentation at FinDEVr New York.
  • PayPal to enable money transfers to Cuba via its Xoom acquisition.
  • Markit to supply FinTech Sandbox with fixed-income pricing and reference data.

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

  • “Finovate Debuts: Alerts from Ethoca Foils Fraudsters”
  • “BBVA Compass to Leverage BlackRock-owned FutureAdvisor”

Around the web

  • Fenergo forges strategic partnership with Markit and kyc.com, bringing its client lifecycle management solution to FIs.
  • Union Bank & Trust to leverage Digital Payments Guardian from Prairie Cloudware to power its new bank-branded mobile wallet.
  • SunTrust Bank selects the Enterprise Risk Case Management (ERCM) solution from NICE Actimize.
  • Former FDIC chair Sheila Bair gives Blooom a “ringing endorsement” during a recent visit.
  • Jack Henry & Associates promotes former president David Foss to CEO; Jack Prim transitions to executive chairman of the board.
  • Emailage and Quatrro Processing team up to provide end-to-end, anti-fraud and chargeback-management solutions to merchants.
  • Pymnts talks to Kashoo about connecting with SMEs that procure through Amazon Business.

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.

Emailage & Feedzai Partner to Combine Machine Learning with Email Risk Assessment

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Fraud-prevention companies Emailage and Feedzai have teamed up to create an even stronger edifice against would-be hackers.

In the agreement, both companies will leverage the other’s unique security layer to combine email risk-assessment with fraud scoring.

Emailage, which debuted at FinovateSpring 2015, offers a tool that assesses the risk associated with an email address. We covered the product, used for underwriting risk on everything from ecommerce transactions to P2P payments in our Finovate Debuts series in August.

Feedzai’s fraud-prevention solution analyzes data furnished by session clickstream, access frequency, malware signatures, social biometrics, and now email addresses. Its machine-learning software analyzes the data-sets to determine risk level. Feedzai made its European debut at FinovateEurope 2014.

Finovate Alumni News

On Finovate.com

  • “A View From Backstage at FinDEVr San Francisco 2015″
  • “Stockpile Hauls in $15 Million in New Investment”
  • “Emailage, Feedzai Partner to Combine Machine Learning with Email Risk Assessment”
  • “Moven Rounds Up $12 Million in Funding for International Expansion”

Around the web

  • Somerset Trust Company to deploy Retail+ for Small Business Banking solution from Malauzai Software.
  • Trustly expands into 21 new markets, now reaching 29 countries.
  • PYMNTS.com takes a look at Currency Cloud and the latest update to its API, Payment Engine Two.
  • Misys launches its dedicated-payment risk-management solution, FusionBanking Payment Insulator.
  • American Banker names 11 Finovate and FinDEVr alums in its list of 21 companies to watch.
  • Worldpay’s IPO on London Stock Exchange is the U.K.’s largest IPO of the year, at a market cap of £4.8 billion ($7.3 billion).
  • New enhancements to CreditHQ from Ormsby Street feature letter templates, new dashboard metrics.

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

  • “SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express”

Around the web

  • In its fiscal year 2015, Avoka signs record number of clients and experiences 70% year-on-year bookings growth.
  • Yodlee is accepting applicants for its upcoming Ynext Incubator class.
  • Markit acquires FX trade-processing specialist DealHug. See Markit at FinDEVr 2015 in San Francisco in October.
  • Emailage opens European data center.
  • After BlackRock’s acquisition of FutureAdvisor, ThinkAdvisor considers the fate of Wealthfront and Betterment.
  • Forbes looks at Mint, MaxMyInterest, Moven, and Venom in a discussion on the connection between mobile, messaging, and financial services.
  • Mainstream features a quote from founder of DoubleNet Pay, CEO Brian Cosgray, on the impact of debt on new retirees.

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

  • “Finovate Debuts: Emailage Detects Fraud Through User’s Email Address”
  • “Finovate Debuts: FundAmerica Helps Crowdfunders Stay Compliant”
  • “TIO Networks Garners $1.7 Million From Secondary Stock Offering”

Around the web

  • CashStar names Katherine Edenbach as its new corporate controller.
  • E-SignLive by Silanis picked as a KMWorld Trend-Setting Product of 2015.
  • CIO cites Avoka’s win of most innovative customer solution during Citi’s demo day in London.
  • Aquiline Capital Partners reveals an investment in Fenergo, an Irish-client, lifecycle-management specialist.
  • Intuit to sell off Quicken with no plans to divest Mint or Mint bills.
  • Holvi launches app for iOS and Android.

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: Emailage Detects Fraud Through Users’ Email Address

 

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Emailage is a unique fraud prevention company. Its global risk assessment service helps companies underwrite risk simply by analyzing email addresses, with no further personal information required.

Emailage facts:

  • Saved companies over $140 million last year
  • Is used on every continent except Antarctica
  • Has offices in Sao Paulo, Brazil and London

Emailage has access to more than 4 billion email addresses, 25 million of which are associated with fraud. If an email address in a client’s list is associated with fraud, Emailage flags it and assigns a risk score.

The company’s fraud-prevention solution applies to any situation where an email address is provided. Examples include:

  • Account onboarding
  • P2P money-transfer
  • Account maintenance for existing customers
  • Ecommerce transactions

Additionally, Emailage has partnered with other fraud-prevention solutions to provide an added layer of protection.

How it works

URLEMAILIP1) Receive email addresses
Clients upload batches of email addresses to check for fraud. Multiple ways to upload include:

  • Browser extensions for Chrome, Firefox, and Internet Explorer
  • Rest API
  • Web portal
  • Batch processing
  • Secure file transfer protocol (SFTP)
  • URL/ HTTP Get calls

2) Evaluate risk
Emailage validates the emails and collects data associated with them. In real time, its algorithm alerts clients of any fraudulent activity associated with the addresses. It uses machine learning, so fraud alerts improve with every use.

3) Assign risk score
Emailage sends clients a risk score for each email address, along with the data, such as domain information, accompanying each.

EmailageOutput

The fraud-risk output is easy to understand. Businesses can customize the data by adjusting the scoring system to suit their preferences. Emailage’s algorithm detects 50% of all fraud problems with a 30% hit ratio. Its scoring system ranges from 1 to 1,000:

Emailageriskscore

In January, Forbes listed Emailage as one of 100 of America’s most promising companies of 2015.

Emailage debuted its browser extensions at FinovateSpring 2015 in San Jose. Check out the demo video below.