Finovate Alumni News

On Finovate.com

  • Tradeshift Raises $250 Million in Round Led By Goldman Sachs.
  • VASCO Rebrands as OneSpan to Focus on Secure Onboarding.
  • Signifyd Takes in $100 Million in Series D Funding.

Around the web

  • Compass Plus announces new partnership with Payhuddle Solutions in Asia Pacific.
  • FICO to help Raiffeisen Bank accelerate digital transformation.
  • Fidor appoints Adam Woolford as Chief Information 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.

Finovate Alumni News

Around the web

  • Neener Analytics completes a Proof-of-Concept with one of the largest credit card issuers in Mexico
  • NetGuardians partners with valantic to take on the German market
  • Study Loans leverages Cloud Lending Solutions for Student Lending Offering.
  • Celent recognizes Fidor for its customer experience as a pioneer in the use of open APIs in banking.
  • Jack Henry & Associates partners with Autobooks to deliver enhanced small business banking functionality.
  • OnDeck delivers 8% sequential loan growth, announces Q1 gross revenue of $90 million.
  • PaySimple announces real-time data integration with QuickBooks Online.

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.

Fidor’s New Partnership Takes Aim at Financial Inclusion

Digital banking services company Fidor has partnered with the International Finance Corporation (IFC) to expand digital banking services in Africa and Latin America.

The IFC and Germany-based Fidor have signed a memorandum of understanding (MOU) to identify financial institutions and partners to launch and enhance digital bank partnerships in developing regions. The IFC works with more than 2,000 businesses worldwide and is a part of the World Banking Group. Last year, the organization delivered a record $19.3 billion in long-term financing for developing countries to help end poverty. Under today’s agreement, the effort will leverage the Fidor Operating System (fOS), an API that delivers digital banking services at a low cost, and will take advantage of Fidor’s expertise in launching a bank.

In the press release, Matthias Kröner, Founder and CEO of Fidor, said: “Fidor’s business model is deeply rooted in providing fair banking in the most efficient fashion possible which aligns with financial inclusion agendas. Having access to financial services can improve people’s everyday lives in emerging markets.” Kröner added that the financial inclusion agenda not only helps individuals, but the benefits also extend to economic and social development. This is why, he stated, “The MOU with IFC aims to roll out digital banks throughout emerging countries and give access to financial services in order to boost financial inclusion.”

This partnership fits well within Fidor’s core competency. The financial services firm co-innovates with other organizations, offering its APIs and expertise to help them launch their own digital banks. Fidor’s technologies cover a wide range of digital banking elements, including compliance, risk management, go-to-market strategy, and customer service. These capabilities are key for the World Banking Group to meet its goal of enabling 1 billion more people to have access to a transaction account by 2020.

Fidor has demoed at FinovateEurope 2011 and presented at FinDEVr New York 2016. In 2016, the company was acquired by France’s Groupe BPCE. Last summer, the company’s U.K. challenger bank announced that Nutmeg was one of two inaugural partners for Finance Bay, the bank’s new marketplace that aims to offer clients access to alternative investment opportunities.

Finovate Alumni News

On Finovate.com

  • Avoka Partners with Alpine Bank to Provide Custom Account Opening Experiences.
  • Fidor’s New Partnership Takes Aim at Financial Inclusion.

Around the web

  • Telia Finance to deploy core banking solution from Temenos.
  • Fidor signs memorandum of understanding with International Finance Corporation (IFC) to expand services to reach the underbanked in Africa and Latin America.
  • Town Square Bank of Ashland, Kentucky chooses Jack Henry’s SilverLake System to support its commercial and retail growth.
  • Cherokee Strip Credit Union hires Insuritas to launch member-owned, digital insurance agency.
  • Finicity to support push for self-sovereign identity as founding steward and data aggregator for the Sovrin Foundation.
  • CardFlight introduces countertop payment terminal for small businesses.
  • AirTM partners with IdentityMind Global to help Venezuelans access stable money that holds its value.

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

  • AutoGravity Partners with Global Lending Services.
  • SelfScore Rebrands as Deserve, Closes on $12 Million in Funding.
  • Credit Sesame Raises More than $42 Million, Unveils Robo Advisor for Credit.

Around the web

  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • Commercial loan origination, CRM are among the new features in Baker Hill NextGen solution.
  • OnDeck partners with Ingo Money and Visa to provide loans to SMEs via debit card.
  • Westpac NZ to transition to real-time banking platform from ACI Worldwide.
  • Regions Bank to add P2P payment and account-to-account transfer solutions from Fiserv.
  • iSignthis announces new agreement with Omnislots.com operator, Dialinvest.
  • Payment Ninja to launch in the U.S. in November.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services
  • Russian bank Lipetskcombank implements new mobile banking app built on Tranzware Mobile Banking from Compass Plus.
  • Accenture and nCino expand alliance to accelerate digital transformation within top U.S. banks
  • Symbiont joins Wall Street Blockchain Alliance as corporate member.
  • Envestnet | Yodlee to integrate risk insight solutions with Fannie Mae’s Ddsktop underwriter validation Service.

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

  • Tink Receives $16.5 Million in Funding, Announces Expansion, New Clients.
  • BLUERUSH Raises $1.3 Million in New Funding.

Around the web:

  • Blackhawk Network appoints Charles O. Garner as Chief Financial Officer.
  • Tavant enabling digital mortgage experience for goodmortgage.com.
  • TechCrunch: TransferWise changes fees for GBP transfers, introduces complicated flat transaction fees.
  • Chain.com announces a new service called Sequence, a cloud-based ledger service for managing balances in financial and commerce apps.
  • Fidor partners with Eight to jointly design the customer experience for Fidor’s  financial services marketplace.
  • Temenos and Abu Dhabi Global Market announce fintech collaboration.

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 Alums Earn Spots in European Fintech 100

Powered by collaborative Belgian innovation platform, B-Hive, and Dutch financial consulting firm, Alex van Groningen BV, the European Fintech Awards & Conference recognize fintech innovators working in a variety of areas ranging from the Blockchain/Bitcoin and Financial Inclusion to InsurTech and Payments.

The awards consist of a European Fintech 100 and a Top Three which will be selected from among the top three startups in each of the conference’s nine categories during a pitch contest at the end of September. Here are the Finovate alum finalists who will compete for top honors in their respective categories this fall.

Dorsum (FinovateEurope 2017)

  • Category: Innovative Banking Software
  • Founded in 1996
  • Headquartered in Budapest, Hungary
  • Róbert Kő is CEO and Founder

Meniga (FinovateEurope 2017)

  • Category: PFM / Robo Advisory
  • Founded in 2009
  • Headquartered in London, U.K.
  • Won Finovate Best of Show three times
  • Georg Ludviksson is CEO

Revolut (FinovateEurope 2015)

  • Category: Challenger Banks
  • Founded in 2013
  • Headquartered in London, U.K.
  • Nikolay Storonsky is CEO and founder

TWINO (FinovateEurope 2016)

  • Category: Alternative Finance
  • Founded in 2015
  • Headquartered in Riga, Latvia
  • Jevgenijs Kazanins is CEO

Below are the Finovate alums that have been named to the European Fintech 100.

 

 

 

 

See the full European Fintech 100 list.

Interested in fintech in Europe and the U.K.? Finovate brings its new, expanded format to London in February. With live demos on Days One and Two, and a diverse range of keynotes, panel discussions, and round tables with fintech professionals on Days Three and Four, FinovateEurope 2017 is an event you won’t want to miss. Visit our FinovateEurope page today to learn more and to take advantage of huge early-registration savings.

Finovate Alumni News

On Finovate.com

  • Finovate Alums Earn Spots in European Fintech 100.

Around the web

  • MapD to speed research with GPIs as part of collaboration with Harvard University’s Center for Geographic Analysis.
  • OnDeck celebrates 10 years  of  alternative lending
  • Challenger bank Fidor reaches 200,000 customers
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the UK’s open banking framework
  • Banco Interamericano de Finanzas leverages Infocorp’s marketing orchestrator tool, Prisma Campaigns

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.

12 Alums Earn Their Place on Inc. 5000 List

Inc. released its lists of the fastest-growing 5,000 private companies in the U.S. and Europe this week. Eight Finovate alums made the U.S. list and four earned spots on the Europe list. To qualify*, companies were required to be privately-owned and independent.

Inc. 5,000 U.S.

Overall in the U.S., financial services companies saw a 151% growth rate, while IT services experienced 112% growth, security 171% growth, and software grew 134%. Out of the 5,000 companies listed in 28 industries, here are the eight Finovate alums that earned their place on the list:

Alkami Technology

  • Rank: 176
  • 2016 revenue: $11.9 million
  • 3-year growth: 24x
  • Founded: 2009
  • Employees: 192
  • Ranked number 11 in top software companies, number 8 in top Dallas companies, and number 13 in top Texas companies.

Alkami debuted under the name iThryv at FinovateSpring 2009 in San Francisco.

nCino

  • Rank: 361
  • 2016 revenue: $26.1 million
  • 3-year growth: 12.2x
  • Founded: 2012
  • Employees: 273
  • Ranked number 24 in top software companies and number 10 in top North Carolina companies.

nCino debuted its bank operating system at FinovateEurope 2017 in London.

Tango Card

  • Rank: 373
  • 2016 revenue: $10.6 million
  • 3-year growth: 11.6x
  • Founded: 2009
  • Employees: 57
  • Ranked number six in top Seattle companies and number six in top Washington companies.

Tango Card debuted its Rewards as a Service API at FinovateFall 2016 in New York.

Kabbage

  • Rank: 449
  • 2016 revenue: $172 million
  • 3-year growth: 9.8x
  • Founded: 2009
  • Employees: 325
  • Ranked number 24 in top financial services companies, number 14 in top Atlanta companies, and number 16 in top Georgia companies.

At FinovateSpring 2015, Kabbage debuted the Kabbage Card. Kathryn Petralia, the company’s President, Chief Operating Officer and Co-Founder, will be featured on our Digital Lending Summit panel on September 13. Register today to save your spot.

Lighter Capital

  • Rank: 634
  • 2016 revenue: $6.4 million
  • 3-year growth: 7.1x
  • Founded: 2010
  • Employees: 36
  • Ranked number 10 in top Seattle companies and number 11 in top Washington companies.

Lighter Capital debuted its Next-Generation Loan Analysis & Monitoring at FinovateFall 2013 in New York.

defi SOLUTIONS

  • Rank: 771
  • 2016 revenue: $11.4 million
  • 3-year growth: 5.9x
  • Founded: 2012
  • Employees: 59

defi SOLUTIONS showcased its loan origination solution at FinovateSpring 2014.

Cardlytics

  • Rank: 1069
  • 2016 revenue: $112.8 million
  • 3-year growth: 4x
  • Founded: 2008
  • Employees: 325

At FinovateFall 2013, Cardlytics showcased its geolocation application.

Payoneer

  • Rank: 1912
  • 2016 revenue: $100 million to $500 million
  • 3-year growth: 2x
  • Founded: 2005
  • Employees: 100 to 249
  • Is a five-time Inc. 5,000 honoree
  • Awarded as a Best Place to Work

Payoneer showcased its Commercial Account at FinovateAsia 2013.

Inc. 5,000 Europe

This is Inc’s third annual ranking of private companies in Europe, based on three-year revenue growth. In its analysis, Inc. ranked Paris, Romania, Sweden, Slovakia, and London as the top five regions with the highest number of fastest growing companies in Europe. Four Finovate alums landed on Inc.’s Europe list this year:

True Potential

  • Rank: 900
  • 2015 revenue: $52.6 million (€44.9 million)
  • 3-year growth: 6.9x
  • Founded 2010
  • Employees: 29

True Potential demonstrated impulseSave at FinovateFall 2014

Zopa

  • Rank: 909
  • 2015 revenue: $32.9 million (€28.1 million)
  • 3-year growth: 6.9x
  • Founded: 2004
  • Employees: 111

Zopa showcased its P2P lending platform at FinovateSpring 2008.

Fidor Bank AG

  • Rank: 4413
  • 2015 revenue: $35.5 million (€30.3 million)
  • 3-year growth: 2x
  • Employees: 148

At FinovateEurope 2011, Fidor Bank demonstrated its Fidor Pay account.

Truphone

  • Rank: 4183
  • 2015 revenue: $42.9 million (€36.6 million)
  • 3-year growth: 2.9x
  • Founded: 2001
  • Employees: 522

Truphone showed off Truphone Mobile Recording at FinovateEurope 2014.


*Other qualifying criteria include

  • Have started earning revenue by March 31st, 2013
  • Had revenue no less than $100,000 in 2013
  • Had revenue no less than $2,000,000 in 2016
  • Revenue in 2016 exceeds revenue in 2013

Finovate Alumni News

On Finovate.com

  • Kabbage Collects $250 Million Investment from SoftBank.
  • Huntington National Bank Chooses PFM, BFM Solutions from Barcelona-based Strands.

Around the web

  • Mastercard and Paypal deepen Asia Pacific partnership.
  • GlobalOnePay teams up with InvoiceASAP to improve electronic invoicing for SMEs.
  • Fidor Bank launches fintech education program in Singapore.

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.