Finovate Alumni News

On Finovate.com

  • “Actiance Brings on Naresh Bansal as New CFO”
  • “Twilio Readies for $100 Million IPO”
  • “PayNearMe Acquires Prism Money to Offer Bill Presentment for Enterprise Clients”
  • “Featurespace Falls on a Fresh $9 Million in Funding”

On FinDEVr

  • “OakNorth, ‘The First Cloud-Based Bank in the U.K.’ is Powered by Mambu”

Around the web

  • Dataconomy interviews Georg Ludviksson, Meniga CEO and co-founder.
  • The WSJ: “Lending Club Talking With Citigroup About Loan Purchases”
  • Cachet Financial Solutions to power Mobile Deposit for LCNB National Bank.
  • American Banker highlights Suresh Ramamurthi, chairman and CTO of CBW Bank.
  • eToro appoints Joe Hall as its new managing director of business in the U.K.
  • Let’s Talk Payments takes a look at the post-acquisition relationship between Envestnet and Yodlee.
  • Ethoca teams up with the Online Payment Exchange (ONPEX) to stop ecommerce fraud using early warning alerts.

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

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • “EVO and Verifone Partner to Make EMV Payments Feasible at Restaurants”
  • “GreenKey Unveils New CEO and May Launch of Instant Messenger Aggregator”
  • “FICO Launches Score Simulator; Adds New CIO Claus Moldt”

The latest from FinDEVr New York 2015 presenters

  • Celent recognizes EdgeVerve Systems as one of two model bank vendors for 2016.
  • “Finovate Debuts: Nexmo Brings Seamless Multi-Factor Authentication to Mobile Banking Apps”
  • Hyperwallet to help expert freelancers on OnFrontiers network get paid.
  • Markit to power Thornburg Investment Management’s enterprise data-management solution.
  • Beyond Bank wins Celent’s model bank award for 2016, courtesy of its customer-engagement platform from Avoka.
  • “PayPal Marks Rollout of PayPal Credit in the U.K. with Interest-Free Financing”

Alumni updates

  • MasterCard unveils new remittance service in Bangladesh with partners, Western Union, bKash, and BRAC bank.
  • Xero and Waddle team up to combine cloud accounting with invoice financing.
  • “Finovate Debuts: Envestnet “Advisor Now” Offers Robo-Tools for Wealth Management”

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

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: Envestnet “Advisor Now” Offers Robo-Tools for Wealth Management”
  • “SocietyOne’s March Madness: New CEO, New CFO, New Major Milestone”
  • “Guardian Analytics Launches Omnichannel Fraud Prevention”

Around the web

  • Beyond Bank wins Celent Model Bank Award for 2016, courtesy of its customer-engagement platform from Avoka.
  • Fastacash announces new CIO, Jorgen Nordin.
  • Xceed Financial merges with Reach FCU; combined entity to deploy DNA core-processing system from Fiserv.
  • Zopa executive chairman and co-founder, Giles Andrews, was named Fintech Leader of the Year.

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: Envestnet “Advisor Now” Offers Robo-tools for Wealth Management

EnvestnetHomepage

Envestnet offers wealth management technology and services to help advisory firms leave brokerages and compete with large financial institutions. Founded in 1999, it went public in 2010 and acquired data-aggregation company Yodlee in August of 2015 for $660 million.

At FinovateEurope 2016, the company launched Advisor Now, a digital advice portal to help traditional advisers compete with robo-advisers. In the demo, Jay Hummel, SVP of advisory services, says:

The future of the robo-adviser movement isn’t going to be standalone robos, it’s going to be a blend of a digital movement. We believe the future is these institutions being able to blend this digital movement to be able to serve a 20-year-old millennial on the exact same platform that they can serve the 70-year old retiree that’s looking for the relationship with a full human advisor. That one platform is what we call Advisor Now.

Advisor Now offers a set of white-labeled tools that help clients monitor investments, track net worth, edit budgets, and securely communicate with their personal adviser.

Company facts:

  • Founded in 1999
  • Based in Chicago, Illinois
  • Used by 47,000 financial advisers to support over $851 billion in assets
  • 2,500+ employees
EnvestnetDemoIMGAdvisory Service SVP Jay Hummel, Blake Wood, SVP, product management, and Molly Pandya, SVP, product management, presented Advisor Now at FinovateEurope 2016 in London.

EnvestnetBill2

We interviewed Envestnet’s William Crager (LinkedIn) for more insight into Advisor Now. Crager has served as president for 16 years; previously, he was managing director at Nuveen Investments.

Finovate: What problem does Envestnet solve?

Crager: Today’s dynamic investor seeks a personalized approach to investing their money. With the ongoing emergence of the latest technologies that offer intuitive methods to help manage wealth, advisers are confronted with how to demonstrate their value proposition and to differentiate their services. While investors are challenged to understand the implications that managing wealth on their own can mean, Envestnet underscores the importance of good advice to an individual’s financial health and wellness. Through the Advisor Now portal, advisors can cater to a client’s basic investing needs and build on that adviser-client relationship to deliver solutions to more complex situations that require full advisory support in the future.

Finovate: Who are your primary customers?

Crager: Our Advisor Now portal is ideal for enterprises, advisers, and investors. Not only does our fiduciary framework provide support to large institutions that need to centralize small accounts—especially in the wake of a new DOL Rule—but also gives advisers an opportunity to extend their reach to new and existing clients that may include millennials or “savers.” Investors can take advantage of goal-oriented planning and investing, knowing that their adviser is behind the scenes offering guidance. Additionally, our robust data-aggregation capabilities give investors a holistic view of their growing wealth.

Finovate: How does Envestnet solve the problem better?

Crager: Our legacy platform is leveraged by more than 47,000 advisers today. As an extension of Envestnet’s open architecture platform, Advisor Now is powering a digital revolution that brings together the simplicity of a robo-offering with a reputable infrastructure that automates the process of goal planning, portfolio selection, account opening, fund transfers, client communication and more.

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

Crager: With Advisor Now, advisers are able to enhance a client’s investing journey, personalizing the approach to advice according to the needs of the investor. We’re giving advisory firms not only a viable solution to help distinguish themselves from the pack, but a way to powerfully scale their business.

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

Crager: Envestnet was built on a vision to empower advisers. As a founding partner of the firm, we had a vision to level the playing field in a world dominated by the most capitalized firms on Wall Street. Today, our firm is a leading provider of wealth management, and crossing the digital divide was our most logical next step to advancing our cause to further establish the importance of the adviser.

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

Crager: Traditionally, our core capabilities delivered a fully integrated end-to-end platform to enhance the daily practice of managing wealth. Through a new initiative called Open ENV, we will be unlocking our core technology to deliver wealth-management toolsets that give clients the option to leverage customized portals that reflect specific business needs, as well as the flexibility to leverage singular tools to help emphasize the services that are most important to them.

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

Crager: Envestnet is driving enormous innovation in the advice and wealth management space. I believe within a year it will become clear how powerful the integration of leading cloud-based software with consumer financial data is. It is the digital future of advice that incorporates the entire wealthspan of a consumer, from retirement planning to investments to the myriad of personal finance components of their lives. Today, very disparate parts can be brought together to empower the consumer to reach their financial goals. We are excited about what lies ahead.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • “Envestnet | Yodlee Unveils its Risk Insight API”
  • “Google’s Guide: New Book Explains How Google Manages its Cloud Infrastructure”

The latest from FinDEVr New York 2015 presenters

  • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
  • Vix Verify opens new offices in Atlanta, Georgia’s Transaction Alley as part of American expansion.
  • Chase launches OnDeck-powered SMB loan platform.
  • Praesidio ranks top 10 most-promising cloud-banking-solution providers of 2015.
  • API report covers Streamdata.io.
  • CryptoCoinNews takes a look at the recent funding for blockchain-development platform, Stratumn.

Alumni updates

  • “CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market”
  • PayNearMe facilitates users to pay for their taxes in cash.
  • “BehavioSec, Nationwide, Unisys Team Up on Biometrics”
  • Crowdfund Insider interviews Snehal Fulzele, Cloud Lending CEO.

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

Finovate Alumni News

On Finovate.com

  • “Malauzai to Offer Geezeo-Powered PFM Tools”

On FinDEVr.com

  • “FinDEVr New York Presentation Videos Live on FinDEVr.com”

Around the web

  • Top Image Systems appoints Kristian Niklasson as its new chief services officer.
  • Alkami Technology teams up with Easy Solutions to add anti-fraud technology to its digital banking platform.
  • Irish Tech News interviews Moven CEO Brett King. See Moven at FinovateSpring next month in San Jose.
  • Fiserv Investment Services President Cheryl Nash named executive leader for Envestnet Institute On Campus’ “Women in Wealth Management” program.
  • API report covers Streamdata.io.
  • ThreatMetrix launches new release with deeper decision analytics, enhanced mobile offering, and stronger authentication capabilities.
  • BehavioSec, Nationwide, Unisys Team Up on Biometrics.

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

  • “Aire Receives Funding from Accion Venture Lab”
  • “Refund.me Brings its Air Travel Compensation Service to Business”
  • “Credit Sesame Launches SnapLoan, The Amazon One-Click for Consumer Loans”

On FinDEVr.com

  • “Envestnet | Yodlee Unveils its Risk Insight API”

Around the web

  • Global Debt Registry announces plans to bring loan-validation technology to marketplace lending industry.
  • CryptoCoinNews takes a look at recent funding for Stratumn, a blockchain development platform.
  • P2Binvestor teams up with independent adviser, MW Eaglewood Americas.
  • Locavesting profiles StreetShares, which in mid-May will begin lending to small businesses.
  • Crowdfund Insider interviews Cloud Lending CEO Snehal Fulzele.
  • Cachet Financial and Ingo Money renew partnership.
  • Ripple adds former HSBC payments executive and SWIFT board member, Marcus Treacher, as its new global head of strategic accounts.
  • LendKey announces it has underwritten, originated, and deployed more than $1 billion in capital to borrowers.

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

  • “Santander and Kabbage Partner to Bring Same-Day Funding to U.K. SMEs”
  • “iSignthis Facilitates Instant Bitcoin Purchases on Coinify”

On FinDEVr.com

Around the web

  • Trunomi announces partnership with InAuth, combining fraud protection with mobile customer onboarding and lifecycle management.
  • MyMoneyMobile selects real-time, ID scanning technology from Jumio.
  • Investment News looks at how Betterment and Wealthfront have added data aggregation, and considers Vanguard’s partnership with Envestnet|Yodlee.
  • InvestorDaily considers the pending release of BlackRock’s FutureAdvisor in Australia.
  • Featurespace selected as a finalist for the 2016 RedHerring Top 100 Europe Award.
  • Barlow names Xero TaxTouch most innovative at 2016 Banking Technology 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.

Intuit Developer Group Drops Financial Data APIs, Partners with Finicity to Ease Transition

IntuitDeveloperGroup_homepage_Mar2016

Intuit Developer Group has decided to discontinue its Financial Services APIs (CAD), which provide financial account aggregation services to a number of third parties. Writing at Intuit’s developer page, Head of Financial Data Services Emily Silberstein explained that the service “no longer fits with our core growth strategy.”

“As of today (March 15, 2016), no new direct financial data API (CAD) developers will be allowed to move into production,” she wrote. The API will be maintained until November 15 to accommodate developers currently in production. Silberstein added that Intuit was partnering with Finicity which “will provide a façade API interface that translates Intuit-structured API calls into Finicity-structured API calls.”

IntuitDeveloperGroup_stage_FinDEVr2015

Pictured: Intuit Developer Group’s Head of Financial Data Services, Emily Silberstein, during her presentation at FinDEVr 2015 in San Francisco.

Over at Finicity, the company has already rolled out the welcome mat. Finicity assures newcomers that its APIs “have the same origins and Intuit’s” and that “our teams are doing all the hard work to make sure our new ‘Façade’ API is a true replica of Intuit’s API, so you don’t have to do another integration.” Developers can sign up to test drive the API at Finicity’s developer portal. The company is also offering two months of free service for developers who migrate to the Intuit façade API or Finicity’s API before July 15.

FinicityIntuit_migration

Making its Finovate debut at FinovateSpring 2015 in San Jose, Finicity was founded in 1999 and is headquartered in Salt Lake City, Utah. A provider of API services for account aggregation, cash-flow verification, and account-ownership verification, Finicity is the maker of the TxPUSH API for Fintech Apps, which makes it easier for developers to use the Finicity API platform to receive account and transaction data instantly.

Intuit Developer Group demonstrated its Transactions and Identification APIs at FinDEVr 2015 in San Francisco last fall. In January, the company tapped Vinay Pai to be head of the developer team, and in February, the Group celebrated the 15th anniversary of the launch of the Intuit Developer Network and the release of the first QuickBooks API.

The decision by Intuit Developer Group leaves Finicity, Envestnet | Yodlee, and FinDEVr alum, Plaid, as the remaining few major firms providing financial account-aggregation services in the United States. Yodlee, acquired by Envestnet last August, released a simplified, more intuitive RESTful API architecture in February. The Redwood City, California-based company presented its financial data platform and rapid development kit at FinDEVr 2015.

Finovate Alumni News

On Finovate.com

  • “Uber, Green Dot Partner to Help Drivers Get Paid Promptly”

On FinDEVr.com

  • “Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process”

Around the web

  • Western Independent Bankers (WIB) picks Bizfi as its exclusive premier alternative finance solution provider.
  • Coinbase adds stop orders to its Coinbase Exchange platform.
  • Markit unveils new tax utility service.
  • Eris Industries chooses Ledger as its blockchain hardware security partner.
  • Medium.com features Klarna and Qapital in a look at building a startup “the Swedish way.”
  • SuiteBox listed among fintechs that are developing tools to help superannuation funds.
  • Envestnet wins the 2016 Technology Innovation Award from the Bank Insurance and Securities Association (BISA).
  • Pakistan’s Soneri Bank selects T24 core banking system from Temenos.

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.