Finovate Alumni News

On Finovate.com

  • Finn AI Brings Conversational Banking to South Africa’s TymeBank.

Around the web

  • Salt Edge unveils new version of API with a consent management system and UX enhancements.
  • MOXY bank selects NYMBUSSmartCore platform.
  • InComm and WH Smith launch in-store and online hubs for game cards in the U.K.
  • STOblock interviews Bitbond Founder and CEO Radoslav Albrecht.
  • India’s Federal Bank turns to Ripple to power cross-border remittances.
  • Khaleeji Commercial Bank of Bahrain partners with Token.io.
  • Finastra hires Sharon Doherty as its new Chief People Officer.
  • Equifax collaborates with Wolters Kluwer to offer Current Expected Credit Losses (CECL) solution.
  • Raiffeisen Bank Serbia picks Asseco SEE as its strategic vendor.
  • NF Innova to power “Customer-First” experience for APS Bank.

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.

FICO and Equifax Forge Strategic Partnership

A new strategic partnership between FICO and Equifax will help financial institutions better manage risk, marketing, and fraud. The two companies have introduced the Data Decisions Cloud: an end-to-end data and analytics suite that integrates Equifax Ignite, a data and analytics management solution, with FICO Cloud applications and Decision Management Suite, FICO’s digital decisioning platform.

“Our common mission is to empower financial institutions to leverage data-driven decisioning in all their customer interactions,” FICO CEO William J. Lansing said. “With this strategic partnership, FICO and Equifax will help organizations operationalize the best data with unparalleled predictive analytics and applied AI, and do so in a streamlined and cost-effective way.”

The Data Decisions Cloud will enable institutions to better navigate differentiated data to find insights and build highly-predictive models that add greater personalization and protection to the customer experience. For FIs in particular, the solution aims to accelerate the pace of innovation around data and decisioning by helping them take advantage of technologies like explainable AI and neural networks.

Via the partnership, the two companies plan to launch additional joint initiatives later in 2019. Among the upcoming products are a connected system that promotes data science collaboration by providing real-time access to raw and trended data, and an AML/KYC compliance-as-a-service solution. FICO and Equifax also plan to introduce an integrated, pre-screen marketing automation solution that creates FCRA-compliant, customer acquisition and retention campaigns.

“We are energized about this broad partnership between Equifax and FICO,” Equifax CEO Mark W. Begor said. “Two industry leaders are joining forces to help financial institutions better meet the needs of consumers and improve business agility.”

FICO (which stands for Fair Isaac Corporation) participated in our developers conference, FinDEVr NewYork in 2016, with a presentation called Rapidly Deliver Contextually-Powered Stream Processing. Members of the company’s product management and product engineering teams discussed how its Decision Management Platform transformed data “from raw to decision-ready” to help companies better manage risk, fraud, marketing, and customer service.

The company began the year with news of a partnership with electronics payments specialist Conductor to fight payment card fraud in Brazil. Also this year, FICO announced winning five new patents for fraud prevention, AI, and advanced analytics technologies. Founded in 1956 and headquartered in San Jose, California, FICO trades on the New York Stock Exchange under the ticker FICO, and has a market capitalization of $7 billion.

Atlanta, Georgia-based Equifax demonstrated its mobile app at FinovateFall 2011. More recently, the company introduced its Ignite solution in the U.K., and teamed up with fellow Finovate alum Experian to provide free credit monitoring via its TrustedID Premier service.

The global data analytics and technology company is active in 24 countries in the Americas, Europe, and the Asia Pacific region, and employs 11,000 workers around the world. With a market capitalization of $14 billion, Equifax trades on the NYSE under the ticker EFX.

Finovate Alumni News

On Finovate.com

  • FICO and Equifax Forge Strategic Partnership.

Around the web

  • Motive Partners closes investment in Finantix announced in December.
  • Since launching in the region last year, Plaid expands coverage in Canada, adding support for Desjardins, National Bank of Canada, President’s Choice, and Simplii.
  • NDGIT’s API platform enables UBS to deliver PSD2 APIs for TPPs.
  • Ledger partners with Hong Kong-licensed Legacy Trust to introduce institutional-grade custody solution to accelerate the flow of institutional money into digital assets.

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

  • Veridium’s InMotion Uses Behavior Analytics for Authentication.
  • FinovateGlobal: Vymo Launches in Vietnam; ZagTrader Helps FIs Go Crypto.
  • FinovateEurope Demo Videos Are Live!

Around the web

  • HackerOne announces that one of its bug bounty hackers is the first to top $1 million in bounty awards.
  • Equifax extends its partnership with the Small Business Financial Exchange (SBFE).

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.

Equifax Launches Ignite Solution in the U.K.

Credit reporting agency and financial health company Equifax announced this week that its data analytics and insights platform, Ignite, has launched in the U.K. market.

Originally unveiled in March of last year, Ignite aggregates advanced analytics such as payment data and risk scores to offer businesses insights about consumer behavior that facilitate decision making. “Equifax Ignite will redefine businesses’ access to data and reduce the time it takes to build, test and deploy models,” said John Power, chief data & analytics officer for Europe at Equifax. “The cloud-based environment provides our customers with a flexible and scalable platform where they can easily access and intuitively manage and test multiple data sources, enabling them to easily explore new ideas and opportunities with market leading tools,” he added

Ignite is comprised of three delivery methods:

  • Ignite Direct, for businesses looking to extend and enhance the data and analytical tools available to their in-house analytics teams.
  • Ignite Models and Scores, which leverage expertise from Equifax analysts, data scientists, and consultants to deliver a tailored approach to solving problems quickly.
  • Ignite Apps, which offer simple visualizations created from a range of data sources for faster decision making.

At FinovateFall 2011, Equifax showcased the benefits of the Equifax Complete features of its mobile app. This summer, the company teamed up with Thinking Capital to launch BillMarket, a solution that helps small businesses in Canada extend payment terms and increase their purchasing power. Later that month, the company acquired DataX to promote financial inclusion.

Founded in 1899, Equifax is publicly traded on the NYSE under the ticker EFX. The company’s market capitalization sits at $11.7 billion.

Finovate Alumni News

On Finovate.com

  • Accenture Acquires Select Assets from Banking Software Provider Zafin.
  • Equifax Launches Ignite Solution in the U.K.

Around the web

  • Enveil brings data in use security to the Azure Marketplace.
  • City of Charlotte and Charlotte Douglas International Airport upgrade to Passport’s real-time, connected platform.
  • Australia’s largest credit union, CUA, launches new chat app powered by Kony’s DBX.
  • Equifax unveils its integrated portfolio of data, analytics, and visualization tools, Equifax Ignite, in the U.K.
  • Temenos announces partnership with Tunisia’s Banque de l’Habitat.
  • GreatHorn meets SOC 2 standards for security, availability, and confidentiality after completion of attestation report.
  • Gitlab’s Kathy Wang and James Ritchey talk with HackerOne about why they decided to launch a bug bounty program.
  • Digital gifting solution provider Swych brings blockchain technology to its platform.
  • Fenergo wins Fintech Exporter of the Year award from Asia Matters.

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

  • CardFlight Aligns with Payscape to Expand Merchant Base.

Around the web

  • PaySimple announces latest payment integration with MarketSharp’s CRM software.
  • Equifax selects Experian to provide customers free credit monitoring through its TrustedID Premier service.
  • QuotePro and Fiserv partner to speed credit for cash payments at self-service kiosks.
  • Singapore-based WeInvest expands to UAE.
  • PYMNTS: OnDeck loan origination volume increased double digits YoY and sequentially, the volume up 22% from the 2017 third quarter
  • Mitek appoints Max Carnecchia as CEO.

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

  • Quid Lands $37.5 Million Round Led by Lexis Nexis Parent
  • NTT DATA Services to Acquire Sierra Systems.

Around the web

  • Equifax partners with consents.online to develop Open Banking solutions.
  • Fiserv powers digital banking platform for Bogota Savings Bank.
  • Neener Analytics launches pilot with MAPFRE Insurance.
  • Best Innovation Group deploys Geezeo PFM SDK.
  • BioCatch partners with 7 tier-one Latin American banks.

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

  • Algomi Picks Up Investment from Euroclear.

Around the web

  • YUKKA Lab selected to participate in the Swiss Kickstart Accelerator.
  • Finicity announces integration with SimpleNexus’ enterprise digital mortgage platform and mobile app.
  • Diebold Nixdorf teams up with Progress Systems to bring self-service cash withdraw and deposit services to credit unions in Ireland.
  • Lending Club appoints Ronnie Momen as Chief Lending Officer.
  • Kabbage appoints Scott Rosenberg as CFO.
  • BeSmartee integrates with Equifax to automate service options.
  • Crowdfund Insider: OurCrowd celebrates 5 years with $750 million raised, 160 companies & 21 exits.

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.

Equifax Acquires DataX to Promote Financial Inclusion

Consumer insights and credit scoring company Equifax made its 18th acquisition this week. The Georgia-based firm purchased credit reporting agency and alternative data provider DataX.

The move is expected to promote financial inclusion for underbanked consumers by helping lenders expand access to credit. DataX’s alternative data stores complement Equifax’s core credit database, as well as specific services such as The Work Number, Equifax’s centralized repository of payroll data. Equifax will also benefit from DataX’s analytics and identity solutions, as well as credit reporting, ID verification, bank account verification, and custom risk services.

“Giving consumers fair access to credit has always been a key economic driver for upward mobility, and this acquisition will help more consumers gain access to credit and capital,” said Trey Loughran, president of United States Information Solutions at Equifax. “The combination of DataX’s data with Equifax’s unique and robust data assets will add more depth to consumer’s profiles and will help lenders expand borrowing options.”

As a part of the transition, the DataX brand and its 18 employees have been integrated into Equifax’s Banking and Lending Division. Other recent acquisitions in Equifax’s portfolio include ID Watchdog and Veda Advantage.

At FinovateFall 2011, Equifax showcased the benefits of the Equifax Complete features of its mobile app. Last week, the company teamed up with Thinking Capital to launch BillMarket, a solution that helps small businesses in Canada extend payment terms and increase their purchasing power. Earlier this year, Equifax appointed a new CTO, launched NeuroDecision technology for neural network modeling, and unveiled Lock & Alert, a service that helps consumers quickly lock and unlock their Equifax credit report.

Founded in 1899, Equifax is publicly traded on the NYSE under the ticker EFX. The company’s market cap sits at $15.2 billion.