Finovate Global: Braintri Wins App Prize; Featurespace in Singapore

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • Austrian division of private banking and asset management group, LGT, partners with Avaloq.
  • Bank of Lithuania announces updates to its position on virtual assets and ICOs.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.

Middle East and Northern Africa

  • Finastra brings its core banking technology to Saudi Arabia.
  • Cryptocurrency brokerage based in Kuwait, YallaBit, raises $925,000 in Series A.
  • Arabian Gazette highlights Bahrain’s Manama, Saudi Arabia’s Riyadh, as well as both Dubai and Abu Dhabi in the UAE in its look at Four Arabian Gulf Cities Where Fintech is Thriving.

Central and South Asia

  • Temenos acquires Bangalore-based big data and analytics firm, hTrunk.
  • National Bank of Pakistan introduces its first contactless debit card.
  • Anirban Mukherjee appointed CEO of PayU India.
  • QR code-based payment app BharatPe raises $17 million in round led by Sequoia Capital India.
  • Pan Asia Bank and TerraPay partner to provide instant cross-border payment access to bank accounts in Sri Lanka.
  • Halyk Bank teams up with Fiserv to centralize its cash management process.

Latin America and the Caribbean

  • Digital challenger bank C6 goes live in Sao Paulo, Brazil.
  • Mexico looks at the possibility of forming a digital payments system, run by the central bank, to help make financial services more accessible for the underbanked.
  • PYMNTS.com features Argentine digital challenger bank, Wilobank.

Asia-Pacific

  • Ping An’s fintech subsidiary OneConnect sets up shop in Indonesia.
  • Hong Kong Exchange acquires minority stake in Shenzhen-based fintech.
  • Featurespace goes live in Singapore.

Sub-Saharan Africa

  • South African digital lender Payabill announces equity stake investment from Johannesburg-based business challenger bank, Sasfin.
  • Kenyan Capital Markets Authority Chief Executive Paul Muthaura speaks about the need for a “conducive environment” for fintech innovation in the country.
  • Nigerian Lagos state government to launch e-procurement platform within the next three weeks.

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Finovate Alumi News

On Finovate.com

  • ID.me Teams Up with VA to Bring Identity Proofing Options to Vets.
  • OmniSci Reports Wide-Ranging Growth in Wake of Rebrand.

Around the web

  • Sberbank customers can now make instant transfers between Sberbank cards and WebMoney wallets courtesy of new partnership.
  • Mobile gifting platform Swych announces it will accept payment in cryptocurrency.
  • Ellie Mae introduces the early adopters of its Integrated Partner Program.
  • Lending Club and U.K. data vendor Brismo team up to provide standardized performance metrics for lending.

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

  • Onfido Teams Up with Extended Stay Marketplace 2nd Address.
  • London’s Accountant Marketplace Capitalise Raises $4.5 Million.
  • Coinbase Acquires Blockchain Intelligence Platform Neutrino.

Around the web

  • Featurespace brings its anti-fraud technology to Singapore.
  • Revolut CEO Nik Storonsky urges UK government to provide special tech visa to ensure London’s status as a “fintech powerhouse” after Brexit.
  • Fiserv helps Kazakhstan’s Halyk Bank centralize its currency management process.
  • Bottomline Technologies partners with UMB Financial to offer Visa-powered payables solution to customers in the U.S.

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.

New Funding Helps Featurespace Fight Fraud in Financial Services

Fraud detection and risk management specialist Featurespace has raised $32.3 million (£25 million) in a round led by Insight Venture Partners and MissionOG. With participation from existing investors IP Group, Highland Europe, TTV Capital, Robert Sansom, and Invoke Capital, the investment takes Featurespace’s total funding north of the $71 million mark.

“We have made tremendous progress over the last 15 months since our last fundraising,” Featurespace CEO Martina King said, “and this fund raise is the largest to date.” King added that the new capital will be used to help fuel the company’s international expansion via a focus on “products, people, and customers.”

“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the U.K., the U.S., and Latin America,” King said. She noted that Featurespace had also become the “technology partner of choice” for many payment processors and merchant acquirers who have made Featurespace’s technology a part of their own fraud prevention efforts.

Based in Cambridge, U.K., with offices in London and Atlanta, Georgia, Featurespace demonstrated its ARIC Fraud Manager at FinovateFall 2016. The technology leverages behavioral analytics, anomaly detection, and machine learning to understand behavior and identify risk more accurately in real-time. Compared to traditional, rule-based anti-fraud solutions, Featurespace’s ARIC provides better fraud detection without increasing the incidence of false positives.

The company is off to a big start in 2019. Recognized by the Technology Association of Georgia (TAG) in its list of the 40 most innovative companies in the state, Featurespace partnered with business consultancy everis earlier this month. The company also announced that international bookmaker and gaming operator SKS365 would use its technology to provide real-time fraud protection.

Last fall, Featurespace teamed up with new U.K. clearing bank, ClearBank; partnered with Danske Bank, the largest bank in Denmark; and released a white label version of its ARIC fraud and risk technology. Founded in 2005, Featurespace is a member of the Inc. 5000 Europe.

Finovate Alumni News

On Finovate.com

  • New Funding Helps Featurespace Fight Fraud in Financial Services.

Around the web

  • WeInvest announces North Asia expansion with appointment of new Head of Sales, Thomas Tse.
  • Yoyo Wallet partners with artisan coffee chain, SOHO Coffee.
  • TAG includes DefenseStorm and FeatureSpace in its list of the top 40 most innovative companies in Georgia.
  • ACI Worldwide brings its real-time payments solution to 17 Hungarian banks courtesy of partnership with T-Systems and Takarékinfo.
  • Dwolla powers AutoInvest, a new automatic investing feature from OneGold.
  • MaxMyInterest boosts top rate available on its platform to 2.46%, the highest rate in the country.

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

  • Glacier Bancorp Deploys Roostify Powered Digital Mortgage Solution.

Around the web

  • Fiserv Announces Plans to Acquire First Data in $22 Billion Deal.
  • Forrester names CREALOGIX as a leader in the Now Tech: Digital Banking Engagement platforms, Q4 2018.
  • Worldpay and Revel Systems announce enhanced partnership to provide consolidated POS and payments solution.
  • International bookmaker and gaming operator SKS365 picks ARIC Fraud Hub from Featurespace for real-time fraud protection.
  • PayPal appoints marketing executive Allison Johnson to EVP and Chief Marketing Officer.
  • Forbes features iProov in article discussing identity and blockchain technology.
  • FICO teams up with electronics payments specialist Conductor to support payment card fraud protection in Brazil.

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

  • Meniga Acquires Swedish Rewards Platform Wrapp.

Around the web

  • Featurespace partners with everis to help the business consultancy’s bank clients fight payment and account fraud.
  • TransferWise opens office in Belgium and applies for money transfer license as insurance against a no-deal Brexit outcome.
  • Hyatt launches bug bounty program with ethical hacker platform HackerOne.
  • Australian business bank Tyro unveils latest Alipay integration with  Sydney Airport retailer Heinemann Australia.
  • Entrust Datacard announces a pair of new board members, Val Rahmani and Cheri McGuire.
  • Capsilon reports that its core technology, Capsilon IQ, helped its clients’ customers save more than five million people hours collectively in 2018.

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

  • DoubleNet Pay Acquired by Benefits Provider Purchasing Power.

Around the web

  • Moxtra partners with Virtusa to help banks with client engagement.
  • Daon announces partnership with Avtex to improve contact center experience.
  • Envestnet | Yodlee launches risk insight for pre-qualification.
  • Benzinga features Kabbage growth stats.
  • CNBC: Coinbase and Circle form joint venture to boost adoption of dollar-backed digital coins
  • City A.M. reports Azimo and CurrencyCloud to open offices in Amsterdam.
  • Temenos announces new Hybrid Pooling cash management solution for corporate banking.
  • ClearBank selects Featurespace for real-time fraud and AML detection.
  • Insuritas partners with Northwest Bank to launch bank-owned digital insurance agency platform.

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

  • Open Bank Project Collaborates with Open Source Software Company Red Hat.
  • Ondot Lands Strategic Investment from Citi Ventures.
  • Experian, FICO, and Finicity Launch the UltraFICO Score.

Around the web

  • Bloomberg TV features Best of Show winner Bumped.
  • Envestnet | Yodlee launches new suite of developer tools.
  • ThreatMetrix partners with SAS, bringing digital identity intelligence to machine learning to help creditors fight identity fraud.
  • Finastra introduces its cloud-based instant payments offering for SMEs.
  • Sberbank inks Memorandum of Understanding with SWIFT.
  • Artivest appoints new Chief Compliance Officer, Kamal Jafarnia.
  • Featurespace unveils its ARIC White Label solution for advanced fraud and risk prevention.
  • Finextra: Fidor and GFT extend partnership to the Americas markets.
  • Kony acquires innovation subsidiary of Umpqua Bank.
  • Finextra: NTT Data plans pan-Asian federated trade information platform based on blockchain.
  • SuperMoney surpasses $1 billion in financing requests
  • Bluefin and TokenEx partner to strengthen payment security with PCI-validated P2PE and omni-channel tokenization.
  • ID.me launches KYC / AML identity verification solution and ID document verification solution.

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

  • Cracking the Fintech Code: Secrets to Success for Fintech Start-ups.
  • Salt Edge Serves Up Open Banking Payment Infrastructure for Testing.

Around the web

  • Earnix forges strategic alliance with automated machine learning innovator, DataRobot.
  • IdentityMind Global partners with digital currency risk assessment specialist, CipherTrace.
  • HackerOne now accepts Bitcoin and Bitcoin Cash payments for bug bounties courtesy of new partnership with BitPay.
  • Fiserv taps Lee Cameron as new managing director for EMEA.
  • Siam Commercial Bank is the first bank on Ripple’s RippleNet to pioneer multi-hop, a feature that allows payment settlement on behalf of other financial institutions on the network.
  • Danske Bank leverages Featurespace’s ARIC fraud hub to reduce fraud.
  • Risk Ident wins Best eCommerce Technology Innovation at the London eCommerce Awards.
  • Banco Fassil is the first Bolivian company to migrate its ATM network to TranzAxis from Compass Plus.

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.