Market data distribution and management solutions provide Xignite has scored a patent for the technology behind its CloudAlerts REST API. The patent recognizes the company’s innovation in developing real-time alerts based on pre-defined stock market conditions. This technology can be added to website or mobile apps by developers to provide users with real-time, automatic notifications on everything from price breakouts to volume surges via SMS, email or onscreen.
What’s unique about Xignite’s approach is the way it is able to deliver market data-driven user alerts at scale, incorporating both the wide variety of user preferences as well as processing a sizable volume of exception conditions in real-time. Fellow Finovate alum SoFi leverages Xignite CloudAlerts in its SoFi Invest service, using the technology to warn investors when a portfolio holding drops below critical levels.
“SoFi saw record investing activity last week during the coronavirus outbreak and that really tested our alerts system,” SoFi Trading and Investment Manager Samuel Nofzinger said. “Our customers value the alerts because they help them invest and protect their money better, especially in today’s volatile market.”
Congratulations to eXate Technologies. The U.K.-based cybersecurity firm – and FinovateEurope 2018 alum – earned a spot in Tech Nation’s Cyber 2.0 growth program. This year’s class marks the second cohort for the program, which is geared toward early-stage cybersecurity startups. Companies participating in the six-month accelerator get peer-to-peer learning with program mentors, masterclasses led by expert scale coaches, as well as meetups and networking with peers, investors, and potential clients.
Add Onfido to the list of Finovate alums that are pitching in to help organizations manage the COVID-19 pandemic. The company announced late last week that it is offering six free months’ use of its biometric identity solution to nonprofit organizations that are fighting the coronavirus. Nonprofits in healthcare, home care, and education are among those to benefit from the program, including a company that uses Onfido’s technology to verify completion of COVID-19 testing.
The Finovate Podcast is on fire! If you’ve not been able to keep up, here are links to the latest conversations with host Greg Palmer.
Here is our weekly roundup of news from our Finovate alums.
- FreeAgent partners with NatWest to offer its customers online cloud accounting software.
- Zogo Finance drops app set-up fees for its credit union customers in Louisiana.
- Ellie Mae announces general availability of peer benchmarking comparison analysis solution, Ellie Mae Insights.
- Baker Hill launches NextGen SBA Fast Track to help SMBs access CARES Act and Paycheck Protection Program (PPP) funds.
- Temenos wins Google Cloud Technology Partner of the Year award.
- NYMBUS teams up with NCR Corporation to help SMBs impacted by COVID-19.
- University First FCU brings on Insuritas to launch a digital insurance agency.
- Artegence and Efigence become Magnolia Platinum Partners.
- Kabbage partners with an undisclosed bank to deliver Paycheck Protection Program (PPP) loans to U.S. small businesses.
- Moven founder Brett King hints at partnership with Varo Money, encourages users to open an account.
- ShopKeep and Lendio partner to help small businesses access COVID-19 funds.
- ATFX now accepting payments via Trustly.
- ACI Worldwide unveils new “Delay My Payment” feature of its ACI Speedpay solution to help billers and consumers during the COVID crisis.
- DriveWealth launches DriveHSA, a new tool for Health Savings Account platform providers.
- Kasasa sees a 288% increase in borrowers using its Take-Back feature.
- Stash now counts one million banking customers.
- MX launches portal for banks navigating the Small Business Administration’s new Payment Protection Program.
- Credit Hero leverages Salt Edge to access borrower’s bank data.
- Finanteq introduces new initiative to provide free digital banking tools – Pocket Branch and Extentum – to banks during the coronavirus pandemic.
- Bankjoy hosts online summit to address how credit unions and fintechs can partner to respond to the economic challenges of COVID-19.
Finovate Alumni Features and Profiles
The Importance of Financial Literacy During Uncertain Economic Times – A growing number of fintechs – many of them Finovate alums you’ll meet below – have devised innovative ways to help young people in particular, become better earners, savers, spenders, and investors.
Kabbage Collaborates with Facebook to Back Retailers During the COVID Crisis – Together, the two companies will help merchants continue to generate revenue at a time when their customers – for sound reasons based on public health – are largely staying away.
SoFi Inks Agreement to Acquire Galileo Financial Technologies – In a cash and stock deal valued at $1.2 billion, online lender and personal finance innovator SoFi has agreed to acquire financial services API and payments platform, Galileo Financial Technologies.
Building a Financial Advisor for Main Street America – We recently chatted with SuperMoney founder and CEO Miron Lulic to give us an update on the company’s platform that helps consumers reach their financial goals.
BankBazaar Adds $3.8 Million to Series D – The capital comes from Amazon and Walden SKT Venture Fund, who have joined Sequoia, GUS Holdings, and Eight Roads Investments in the round.
Sonal Rattan, Co-Founder & CTO