Finovate Alumni News

On Finovate.com

  • Finovate Alums Earn Spots on Deloitte’s 2019 Technology Fast 500
  • TransferWise Teams Up with GoCardless to Launch Global Network for Bank Debits
  • Finovate Global: Saudi Arabia Bets Big on Fintech; Sberbank Unveils Russian Supercomputer

Around the web

  • Worldline and Bitcoin Suisse partner to enable use of cryptocurrencies at the point of sale.
  • Ripple’s RippleNet tops 300 customers.
  • Tink hires Stripe’s former head of EMEA banking as its new Country Manager for the U.K. and Ireland.
  • DemystData makes Equifax data assets available on its marketplace in expansion of current partnership.
  • Fenergo earns recognition from Chartis Research in its RiskTech 100 2020 report as a category leader for Client Lifestyle Management and Know Your Customer.
  • RISQ Intelligent Software International and Compliy win finalist spots in the Monetary Authority of Singapore’s Global FinTech Hackcelerator.
  • Sensibill named a “Company to Watch” in Deloitte’s Technology Fast 50 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.

Finovate Alumni News

On Finovate.com

  • Paper.id lands funding to power digital invoicing for SMEs in Indonesia.

Around the web

  • BlueVine launches BlueVine Business Banking.
  • Salt Edge unveils Salt Edge Authenticator for strong customer authentication and dynamic linking.
  • Jack Henry’s PayCenter helps first 15 bank clients join RTP network.
  • AccountScore and Equifax debut credit risk index to help lenders better understand loan applicants.
  • Personal Capital celebrates 10 years in wealthtech with a brand refresh.
  • MX ships new tool to help consumers manage and cancel recurring subscriptions.
  • Swaper’s three years milestones: 2800 investors have funded over 7 million Euros in loans.
  • Envestnet | Yodlee releases Intelligent APIs to further personalize financial wellness tools.
  • myGini completes PCI Level 1 compliance audit.
  • FinTech Global recognizes Insuritas as InsurTech 100 Member.

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

Around the web

  • Plaid launches Investments to give developers and financial institutions the ability to build holistic views of customer investment accounts.
  • Equifax forges strategic alliance with GIACT Systems.
  • PayPal COO Bill Ready to leave company at the end of the year to “pursue entrepreneurial interests” beyond PayPal.
  • CurrencyFair announces its Come Home campaign offering Irish nationals living abroad the opportunity to win a €30,000 relocation package to return to Ireland.

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

  • Q2 and ALTR Leverage the Blockchain to Boost Data Security.
  • Neustar Helps TELUS Fight Caller ID Spoofing.
  • Fintech OS Raises $1.2 Million.
  • Personetics Unveils AI-Enabled Small Banking Solution.
  • SparkPost Launches Predictive Email Intelligence Platform.

Around the web

  • Meniga opens an office in Barcelona, Spain.
  • Coinbase extends support for USD Coin (USDC) trading in 85 countries.
  • Finastra hires Mark Miller as new Chief Financial Officer.
  • Fenergo announces API integration with global financial markets data provider Refinitiv.
  • Hastings Direct extends deal with Equifax by signing a multi-year deal.
  • SDC and Tink partner to give 120 Nordic banks access to account aggregation and payment initiation services.
  • Kony Quantum powers Qualifacts’ new CareLogic mobile app.
  • WireBarley partners with Currencycloud to boost its operations in the U.S.
  • Lendio named to Fortune’s Best Workplaces in Financial Services & Insurance.
  • BlueVine taps Herman Man as new Chief Product Officer.

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 Buys PayNet for Commercial Lending Data

Credit reporting agency and financial health company Equifax closed its 19th acquisition this week with the purchase of commercial lending solutions company PayNet. Terms of the deal were not disclosed.

PayNet was founded in 1999 to help commercial lenders make better decisions. The company provides underwriting products for both banks and alternative lenders. Among the solutions offered are growth strategies, risk management, collections solutions, and business intelligence tools.

“I co-founded and ran PayNet with the belief that when commercial lenders are assured of risks, they are more likely to make credit available, unlocking opportunity for small businesses. I believe this aligns perfectly with the Equifax vision,” said Bill Phelan, PayNet president and co-founder. “The combined companies create the premier set of data on the private credit market in the U.S. and Canada.”

In addition to its tools, one of PayNet’s biggest attractions is its data on the commercial lending and leasing market. These two factors will help boost Equifax’s Commercial business, data assets, and analytics capabilities. Together, the companies can fuel client growth in the small and medium commercial business space.

“We are intensely focused on adding unique and valuable data assets to couple with our industry-leading data and analytics capabilities. The PayNet acquisition brings unique and valuable commercial leasing data assets to our leading commercial data assets and insights capabilities to enhance decisioning and access to credit for small and medium-sized businesses,” said Mark W. Begor, Equifax CEO.

PayNet and its employees have joined Equifax’s U.S. Information Solutions business unit.

Today’s deal isn’t the first example of Equifax chasing data. Last year the company acquired DataX, an alternative data provider that helps lenders expand credit access to underbanked populations.

At FinovateFall 2011, Equifax showcased the benefits of the Equifax Complete features of its mobile app. Founded in 1899, Equifax is publicly traded on the NYSE under the ticker EFX. The company’s market capitalization sits at $15 billion.

Finovate Alumni News

On Finovate.com

  • Equifax Buys PayNet for Commercial Lending Data.

Around the web

  • Ron Shevlin looks at the effects PayActiv’s technology has on the paycheck industry.
  • Thrive Global interviews Lynne Laube, COO and co-founder of Cardlytics.

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

  • 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.