Finzly

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: BlueVine, Daily news, Finastra, Fintech Rundown, Finzly, Klarna, MasterCard, Salt Edge, Trustly, Tyro, Weekly Alumni News, Weekly News

As 2024 works its way toward halftime, we’re seeing an uptick in partnership and collaboration activity from crypto to regtech. Check back all week long for updates on the latest in fintech news.

Payments

Payment orchestration platform Gr4vy extends its partnership with open banking payments company Trustly.

Tyro Payments teams up with StoreConnect to enable integrated payments for a Salesforce-based POS solution.

Intelligent verified payouts solutions provider Verituity closes $18.8 million funding round.

MENA and Africa-based consumer fintech Pyypl to issue prepaid Visa cards from its UAE headquarters as part of a new partnership with Visa.

Clair partners with Check to seamlessly offer on-demand pay. 

Tribe Payments appoints Andrew Hocking as CEO.

Frost Bank taps Finzly to provide FedNow and RTP instant payments to its business clients and consumers.

Digital banking

Mahalo Banking introduces its latest partner: Industrial Credit Union.

Bluevine teams up with Mastercard to launch its new Small Business Cashback Mastercard.

Bank Midwest partners with Finastra to launch its new digital bank, OnePlace.bank.

Tuum expands its partnership with Amazon Web Services (AWS) to deliver its next generation core banking platform through the AWS Marketplace.

Quail Creek Bank chooses Jack Henry to stay competitive and enhance customer experience.

MoneyLion appoints Jon Kaplan as Chief Revenue Officer.

Avidia Bank partners with Q2 and Personetics to modernize its digital banking experience and strengthen engagement.

Eltropy announces key enhancements to unified conversations platform.

Fraud and Identity management

Risk-decisioning software provider Provenir launches onboarding fraud solution.

Email address intelligence firm AtData forges strategic partnership with unified identity platform Dodgeball.

DataVisor enhances multi-tenancy capabilities for scalable, secure, and flexible fraud and AML solutions.

E-Commerce

Klarna divests its Klarna Checkout (KCO) division for $520 million.

Regtech

E-document management platform A-Cube API announces collaboration with Salt Edge to facilitate compliant document digitization.

DeFi

Decentralized finance (DeFi) platform 1inch partners with Web3 security provider Blockaid.

Embedded finance

Cotribute, an embedded fintech platform serving credit unions, partners with APCU and Center Parc Credit Union to launch an automated digital account opening solution.

Embedded finance platform for technology purchases Gynger raises $20 million in a Series A round led by PayPal Ventures.

Banking-as-a-Service

Payments and financial solutions provider Finzly partners with Frost Bank to bring FedNow and RTP Instant Payments to business and retail customers.

Egyptian Banking-as-a-Service startup Connect Money secures $8 million.

Lending

USMI names Enact MI President and CEO Rohit Gupta as Chair of the Board.

Conotoxia makes loan applications and processing available in its mobile app.

Small business finance

Airwallex integrates with Intuit QuickBooks to provide seamless multicurrency reporting.

Photo by Nubia Navarro (nubikini)

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Alumni News, Betterment, Bottomline Technologies, Daily news, eToro, Finastra, Fintech Rundown, Finzly, Klarna, nCino, Tink, Weekly Alumni News, Weekly News

Happy Earth Day! Partnerships in payments and fundraising in the international investment/wealth management space are dominating fintech news headlines as the week begins.

Digital banking

Temenos announces appointment of new Chief Executive Officer Jean-Pierre Brulard, effective May 1, 2024.

Caribbean Bank Limited partners with Finastra to modernize its core technology and upgrade its back office operations.

Zafin appoints Charbel Safadi to replace Al Karim as CEO.

Open banking

Open banking firm Fintech Galaxy collaborates with Singapore-based FinbotsAI to launch new credit profiling capabilities.

Bill-sharing app Splitwise teams up with open banking platform Tink to bring Pay by Bank to Splitwise customers.

Banking-as-a-Service

BaaS innovator Finzly partners with EverBank to enhance the firm’s payment processing system.

Crypto

eToro teams up with 21Shares to launch a new, “data-driven,” crypto portfolio, 21Shares-Flows.

Payments

Ad-subsidized payments network (ASPN) Zilch extends its collaboration with Amazon Web Services.

Payments and financial platform for businesses Airwallex launched its payment acceptance solution in the U.S.

Klarna forges global partnership with Uber, bringing its Pay Now option to the company’s ride-sharing and delivery platforms.

Brite Payments goes live in Germany with its Instant Payments solution.

Business payments specialist Bottomline forges strategic partnership with spend management company Coupa.

TabaPay to acquire the assets of BaaS provider Synapse Financial Technologies.

Real-time, cross border payments company Nium introduces new Chief Payments Officer, Alexandra Johnson.

Versapay appoints Ed Neumann as Chief Financial Officer.

UAE-based Careem Pay expands its international remittance services in the U.K. to include its Faster Payments offering.

GoCardless and Intuit QuickBooks integrate to allow U.S. QuickBook users to use ACH-Pull for account-to-account payments.

Thunes agrees to acquire Tilia. Tilia will be rebranded as Thunes and will remain based in San Francisco.

Klarna expands global partnership with Expedia to offer BNPL payment option for flights and hotel stay purchases.

Sopra Banking Software and Paymentology partner to deliver card issuing services within its SBP Digital Core platform.

Visa and Standard Chartered partner on cross-border payments.

Regtech

U.K.-based digital compliance and AML solutions provider SmartSearch appoints Phil Cotter as CEO.

Investing and Wealth Management

Wealth management platform TIFIN introduces new Chief Operating Officer of its TIFIN AG platform Jeannette Kuda.

Goldman Sachs announces deal to sell its Marcus Invest digital investing accounts to Betterment.

Istanbul, Turkey-based investment app Midas secures $45 million in new funding.

Kinsted Wealth partners with software provider Objectway for its investment management platform.

Cairo, Egypt’s Bokra raises $4.6 million in pre-seed funding for its platform that offers investment products via asset backed securities.

Lending and Credit

U.K. property lender Together partners with nCino to enhance its lending operations.

BMO unveils its Greener Future Financing program to help SMEs in the U.S. build climate-resilient operations.

Pomelo lands $20 million in Seed funding and a $50 million warehouse facility for its tool that combines credit and international money transfer.

Figure Technology Solutions appoints Michael Tannenbaum as Chief Executive Officer.

E-commerce

Subscription management and billing platform Recurly introduces new dashboards with built-in benchmarks.

Klarna sells Hero, the virtual shopping platform it acquired in 2021, for $1.3 million (€1.3 million).

Splitit unveils FI-PayLater to empower banks to provide in-checkout installments for existing customers.

Identity verification

Financial crime risk data and fraud detection technology company ComplyAdvantage acquires knowledge graph builder Golden.

AU10TIX announces $18 billion in business fraud prevented since 2021.

Small Business Tools

Basware introduces AP Protect, an AI-powered solution that empowers finance teams to protect their organizations against profit loss, invoice errors, and fraud. 

Marqeta partners with OakNorth to offer commercial cards in the U.K.

Payroll

Rippling raises $200 million in new financing with $13.5 billion valuation.

Photo by Valentin Antonucci

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Finzly Launches Account Galaxy Embedded Banking Solution

Finzly Launches Account Galaxy Embedded Banking Solution
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Finzly
  • Banking-as-a-Service provider Finzly launched Account Galaxy, a new embedded banking solution.
  • Account Galaxy allows non-banks and fintechs to launch virtual accounts with real-time transaction monitoring.
  • The virtual accounts exist alongside an organization’s current infrastructure within what Finzly calls a “sidecar core.”

Account Galaxy is the name of the newest solution from Finzly. The Banking-as-a-Service (BaaS) solutions provider unveiled the new embedded banking solution in an announcement today that highlights how Account Galaxy can help banks participate in embedded banking.

Account Galaxy offers two main use cases to facilitate BaaS functionality: advanced payment processing and flexible accounting capabilities. These capabilities offer non-banks and fintechs virtual accounts where transactions can be monitored in real-time. The accounts not only provide reduced compliance risk, but also offer enhanced speed. Additionally, Account Galaxy helps small-to-mid-size banks attract commercial clients by embedding services into ERP, accounts receivables, and payables in an automated way.

“Embedded banking will have a significant impact on how banking services are provided to business and consumers,” said Datos Insights Strategic Advisor Enrico Camerinelli. “Providing tools to empower banks of all sizes to participate in this emerging industry will lead to greater innovation and ultimately better services for all.”

Account Galaxy’s virtual accounts are supported by a virtual ledger, enabling them to exist alongside an organization’s current infrastructure within what Finzly calls a “sidecar core.” This setup prevents new accounts from overburdening the organization’s existing systems.

“With Account Galaxy, banks can cost-effectively enable the integration of banking services into corporate systems and non-bank platforms, unlocking new opportunities for growth and innovation,” said Finzly founder and CEO Booshan Rengachari.

Finzly’s flagship offering, Finzly OS, enables clients to launch a modern bank from scratch. The company’s API connects to all U.S. payment rails, including Fed ACH, Fedwire, RTP, SWIFT, and FedNow. Founded in 2012 under the name SwapsTech, the North Carolina-based company recently landed $10 million in funding in a Series A round led by TZP Group.

Finzly most recently demoed at FinovateSpring 2023, and has taken home Best of Show honors for its demos at FinovateFall 2020 and FinovateSpring 2020. By the way, we’re still accepting applications from companies interested in demoing at our upcoming conferece, FinovateSpring 2024. Take a look at the event and find out more about what it takes to demo.

Photo by Glen Carrie on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Alkami Technology, Alumni News, Daily news, Finzly, Revolut, Socure

Starting off the holiday-shortened week with more than a few fintech partnership announcements in payments as well as some positive funding news in the challenger bank/neobank space.

Follow this space all week long for more updates on the latest in fintech!

Payments

Localized payment solutions network Boku introduces new Chief Executive Officer Stuart Neal.

Mangopay, a payments infrastructure provider for marketplaces and platforms, teams up with Storfund.

Integrated payments and commerce technology company Shift4 teams up with mobile payment provider MobilePay.

Worldline forges strategic partnership with Google to leverage the cloud to enhance global payments orchestration.

Canadian payment solutions provider Chimoney announces a partnership with Corpay.

DailyPay closes $175 million in funding, boosts valuation by 75%.

Netherlands-based BNPL fintech Billink raises €29.5 million.

Brightwell collaborates with Visa to enable payouts to bank accounts and wallets.

Latin American payments fintech Pomelo raises $40 million.

Banking-as-a-Service

Allied Banking Corporation turns to Finastra as it migrates its core banking operations to the cloud.

High Circle, Treasury Prime, and First Bank forge strategic partnership.

Finzly announces 2023 revenue growth was double that of 2022.

Crypto

Franklin Templeton introduces its Franklin Bitcoin ETF, EZBC.

Challenger Banking

German digital bank N26 introduces in-app stock trading.

Panacea Financial raises $24.5 million in Series B funding.

Revolut and Jabil team up to scale development of Revolut’s mobile payment POS solution, Revolut Reader.

Identity Management

U.K.-based fintech ZORRZ teams up with identity verification platform provider IDnow.

KYC profiles provider Encompass Corporation acquires CoorpID and Blacksmith KYC from ING.

Socure launches its integrated, identity fraud solutions suite, Sigma Identity Fraud V4.

U.K.-based rent data company CreditLadder adds new reporting functionality to its digital identity app, Digital ID Connect.

Digital Banking

Colorado-based Elevations Credit Union partners with digital banking platform provider Alkami.

Co-op Credit Union extends its partnership with MDT, a CUSO that hosts the Symitar core processing system from Jack Henry, and adds digital and data capabilities.

Tandem unveils Goals feature set, announces $3.7 million in seed funding.

Pinwheel collaborates with Jack Henry to streamline access to direct deposit switching solution

Mortgagetech

Obligo teams up with BNY Mellon to digitize the rental process for property managers.

Credit Risk & Analytics

Collections and credit risk specialist Akuvo announces that 21 new financial institutions have signed up for its delinquency management platform.

Insurtech

Qover launches its automobile insurance solution in the U.K.

Trust & Will announces strategic investment from Erie Strategic Ventures

Regtech

UK-based Regtech eflow Global announces global expansion plans, appoints senior hires in the U.S.

Lending

Nav introduces next best option to help SMBs that are declined for funding.

DMI acquires ZestMoney platform and will be a preferred lender on the Zest platform.

Photo by Obsahovka Obsahovka

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Payments Infrastructure Innovator Finzly Locks in $10 Million in Funding

Payments Infrastructure Innovator Finzly Locks in $10 Million in Funding
By David Penn Posted on
Categories: Alumni News, Daily news, Finzly, Funding
  • Payments infrastructure company Finzly secured $10 million in Series A funding this week.
  • The round was led by TZP Growth Equity. Finzly will use the capital to accelerate expansion.
  • Finzly won Best of Show for its demos at FinovateWest and FinovateFall in 2020.

Payments infrastructure innovator Finzly has raised $10 million in funding. The Series A round was led by TZP Growth Equity. Finzly, which won Best of Show at FinovateWest and FinovateFall in 2020, will use the investment to accelerate expansion.

“Throughout Finzly’s history, we have carefully invested in disciplined and organic future growth by developing products and solutions that deliver value to our customers by simplifying their operations,” Finzly founder and CEO Booshan Rengachari explained. “This capital raise will enable us to further invest in our product roadmap built around the theme of providing real-time financial services demanded by today’s real-time economy, scaling our product delivery to maintain our high customer satisfaction rate.”

Finzly made its Finovate debut in 2019 and returned to the Finovate stage the following year. The company won Best of Show in the spring of 2020 and again in the fall. Finzly’s technology connects FIs with customers through a modern, digital banking experience and an efficient, real-time payments hub. The company’s “payments core” is a single platform that consolidates all payment rails, simplifying back-office operations and the customer journey. Finzly’s high automation rates enable banks to reduce operating expenses and offer friction-free payments. The company was among the first to offer an API connection to FedNow, the Federal Reserve’s new instant payment service.

Shamit Mehta, TZP’s lead partner on the investment called Finzly “a catalyst in the transition towards more agile and customer-centric banking experiences.” Further, Mehta added that Finzly was “well-positioned to drive significant advancements in how banking and financial services operate and will become a category-defining company.” As part of the funding, Mehta will join Finzly’s board of directors.

Finzly’s investment news comes in the wake of the company’s latest partnership. Metropolitan Commercial Bank, a New York-based financial institution with assets of more than $6 billion, turned to Finzly to enhance its payment operations for ACH, Fedwire, and FedNow. Earlier this year, banking platform Mode Eleven partnered with Finzly to transform its wire and ACH operations.

Headquartered in Charlotte, North Carolina, Finzly was founded in 2012.

Photo by Essow K

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Finzly’s New API Offers Access to FedNow Payment Rails

Finzly’s New API Offers Access to FedNow Payment Rails
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Finzly
  • Finzly has released an API connection to the U.S. FedNow Service.
  • The API enables developers to test out the new set of payment rails in a sandbox environment.
  • FedNow, the U.S. Federal Reserve’s real-time payment rails, is set to launch later this year.

Banking-as-a-service provider Finzly released its new API that offers connection to the U.S. FedNow Service in a sandbox environment.

Through its sandbox, Finzly enables fintech, bank, and third party developers to use its API to build real-time payment experiences via the FedNow’s pilot version.

“The future of the economy is connected and real-time. Insurance payouts, government benefits, healthcare payments, online commerce, subscriptions, point of sale, investment, lending, treasury, and several other platforms are expected to connect to the new FedNow Service for an integrated, cardless, bank-to-bank, instant payment experience,” said Finzly Founder and CEO Booshan Rengachari. “Finzly APIs and its direct connection to the FedNow service will accelerate the adoption of instant payments in several use cases. We are excited about being the world’s first player to offer access to FedNow service via an API.”

Launching later this year, the U.S. Federal Reserve’s FedNow Service is a set of new, real-time payment rails. The service will facilitate instant money transfers to and from any U.S. financial institution at any time of day, on any day of the week for both commercial and retail customers.

Today’s news comes a little over two years after Finzly announced it was among 110 other organizations participating in the FedNow pilot program, a beta test of the new rails. Other non-bank pilot participants include ACI Worldwide, Finastra, Jack Henry & Associates, and Q2 Software.

Founded in 2012, Finzly offers banking-as-a-service tools via Finzly OS— which it demoed at FinovateSpring last year– that enable users to launch a modern bank from scratch. The company offers an API that connects to all U.S. payment rails, including Fed ACH, Fedwire, RTP, SWIFT, and now FedNow. Formerly known as SwapsTech, the North Carolina-based company recently added a handful of clients, including Veritex Community Bank, Coastal Community Bank, First Internet Bank, and ICBA Bancard. Finzly recently

Photo by Benjamin Svobodny

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FinovateSpring 2022 Sneak Peek: Finzly

FinovateSpring 2022 Sneak Peek: Finzly
By Heather Stowell Posted on
Categories: FinovateSpring 2022, FinovateSpring 2022 Sneak Peek, Finzly

A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.

Finzly allows the building of programmable banks by providing a financial infrastructure for banks, fintechs, and businesses to quickly offer and access financial services in an open ecosystem.

Features

  • Speed to market
  • Agility to assume new avatars
  • Freedom to innovate

Why it’s great

Speed, agility, and freedom culminate in innovation and the democratization of banking!

Presenters

Booshan Rengachari, CEO & Founder
Rengachari founded Finzly in 2012 with a vision to simplify transformation of financial institutions and democratize banking. Today, his brainchild – the award-winning nextgen platform, Finzly OS – is a testament to his vision, helping banks play an active role in the connected economy. He is a member of the U.S. Faster Payment Council Advisory Board, regular speaker at leading industry forums, and acclaimed for his thought leadership in bank transformation.
LinkedIn

Murthy Bulusu, CTO & Co-Founder
Co-founder of Finzly, Bulusu is instrumental in building the Finzly platforms and streamlining the customer implementation process. Bulusu formerly led technology teams at Wells Fargo, TIAA-CREF, Ford, and Chrysler. Working in tandem with the product team, he explores emerging technologies and appropriately uses them in Finzly products.
LinkedIn

Vijay Vardhan, VP of Products
Vardhan is the VP – Products at Finzly, leads product management, and helps to maximize the company’s customer-centric focus through the correct approach to product design. Innovation to solve real-world problems in the modern economy and working on the right product roadmaps is Vardhan’s forte. He has 4 patents in automobile technology, worked at GM & Chrysler, and has an MBA from Michigan State.
LinkedIn

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Partners in Payments: Best of Show Winner Finzly Teams Up with ICBA Bancard

Partners in Payments: Best of Show Winner Finzly Teams Up with ICBA Bancard
By David Penn Posted on
Categories: Finzly, Partnership Outlook

This week’s Partnership Outlook focuses on recent Finovate alum – and Best of Show winner – Finzly. The Charlotte, North Carolina-based fintech announced that it will work with ICBA Bancard to bring instant payments to its payments hub, Payment Galaxy. ICBA Bancard is the payments services subsidiary of the Independent Community Bankers of America (ICBA), and the partnership with Finzly will enable the company to offer community banks and credit unions – as well as their customers and members – more efficiency and convenience, as well as improved cash flow.

“The rise in digital and contactless payments, fueled by the pandemic, has heightened demand for faster payments,” ICBA Bancard President and CEO Tina Giorgio said. “Through this collaboration, ICBA Bancard is helping community banks deliver payments when and where customers want while streamlining their payment processes for additional value and distinction in the market.”

Finzly’s Payment Gateway features preloaded connections to both the Fed and The Clearing House to support instant payments; built-in compliance tools for powerful, thorough audit trails; a bulk payment service for both real-time and future-date scheduling disbursements; and a secure, fraud management system for both payments and messages.

“Finzly’s payments hub not only helps banks stay relevant in today’s fast-paced market, but also helps future-proof their payment infrastructure,” Finzly founder and CEO Booshan Rengachari said. “We are very excited to partner with ICBA Bancard and are eager to see more community banks pursuing the road to innovation through smarter payments transformation.”

Most recently demonstrating its technology at FinovateWest 2020, Finzly took home Best of Show honors for its demonstration of its Digital Account Opening (DAO) solution, powered by Finzly’s BankOS. In the months since then, the company has teamed up with Pacific Western Bank, which selected Finzly’s FX STAR platform for end-to-end management of international banking products, and announced a strategic partnership with Fintel Connect, a performance marketing company specializing in financial services companies and fintechs. The Finzly-Fintel alliance will create a digital growth solution for bank partners, enabling them to meet growing customer demand for digital services and provide alternatives to in-person, in-branch services.

“Banks that rely on Finzly’s modern offerings really want help with digital marketing,” Finzly Chief Strategy Officer and advisor Dave Hunkele. “Fintel Connect provides our clients with a cost-effective, digital channel for attracting potential customers, who can then be onboarded through Finzly’s account opening solution. 

Other major partnerships this year for a very-busy Finzly have included collaborations with California Community Banking Network and Fulton Bank, both announced in March. The company began the year with news that it had joined the pilot program for Federal Reserve’s FedNow instant payment service. Finzly was founded in 2012.

Photo by Rebecca Diack from Pexels

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Ten Finovate Alums Join FedNow Instant Payments Pilot Program

Ten Finovate Alums Join FedNow Instant Payments Pilot Program
By David Penn Posted on
Categories: ACI Worldwide, Alumni News, Capital One, Citi, Daily news, Finastra, Finzly, FIS, Fiserv, Green Dot, Jack Henry, List series, Temenos

More than two years in the making, the FedNow payments initiative – launched by the U.S. Federal Reserve to accelerate payments and transfers – is picking up speed. The project currently has more than 110 banks, financial services providers, and other organizations slated to participate, and among them are ten Finovate alums.

“We’re gratified by the industry’s tremendous interest and willingness to devote time and energy to help us develop the FedNow Service,” Esther George, executive sponsor of the Federal Reserve’s payments improvement initiatives, said. George, who is also President and CEO of the Federal Reserve Bank of Kansas City, added that the pilot has had to “adjust” to accommodate greater than expected interest.

The idea behind the service is to expand the reach of instant payment services offered by financial institutions and enable businesses and individuals to send and receive instant payments, with full access to their funds within seconds. The FedNow Service will leverage the Federal Reserve’s FedLine network, which connects to more than 10,000 financial institutions directly or via their agents.

The pilot program is designed to review the technology’s features and functionality, assess the user experience, and greenlight the product for further testing and eventual general availability. Participating institutions will be retained, post-launch, to provide additional review and advice with regard to issues like adoption roadmap, industry readiness, and overall payments strategy.

“The FedNow Service marks a turning point in the industry’s move to making real-time payments a reality,” Booshan Rengachari, founder and CEO of Finzly, explained. Finzly is one of Finovate’s newest alums – most recently demoing its technology at FinovateWest Digital last fall – and is one of the participants in FedNow’s pilot program.

Rengachari further suggested that this “turning point” was a moment his company had anticipated. “We created our Payment Hub specifically to help FIs prepare and go to market faster with newer RTP networks,” he said. Finzly’s CEO added that this helps “address the challenges of offering single payment API for multiple payment networks without having to run disparate payment systems from multiple vendors.”

The 10 Finovate alums participating in the FedNow project are listed below.

Photo by Inge Wallumrød from Pexels

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FinovateWest Digital 2020 Sneak Peek: Finzly

FinovateWest Digital 2020 Sneak Peek: Finzly
By oliver Posted on
Categories: Finovate, FinovateWest 2020, FinovateWest 2020 Sneak Peek, Finzly

A look at the companies demoing at FinovateSpring Digital on May 10 through 13, 2021. Register today and save your spot.

Finzly Digital Account Opening is the next generation answer to engaging with customers, creating the right first-impression, and onboarding valuable consumer and business customers.

Features

  • Flexible, escalating security and KYC models
  • Forms-based workflow composer provides institutions with flexibility and control
  • Funded accounts, online and mobile service activation and card issuance

Why it’s great
Finzly Digital Account Opening helps institutions establish profitable customer relationships and is an app easily subscribed to through Finzly BankOS.

Presenters

David Hunkele, Chief Strategy Officer & Advisor
Hunkele is Chief Strategy Officer and advisor with expertise in SaaS software, cloud-banking, go-to-market strategy, and digital transformation within fintech and financial services.
LinkedIn

Terry Howell, CTO
Howell is co-CTO and VP of Technology for Finzly with responsibility for R&D of the BankOS platform, treasury and digital banking products, and quality assurance for test and engineering automation.
LinkedIn

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FinovateFall Digital 2020 Best of Show Winners Announced

FinovateFall Digital 2020 Best of Show Winners Announced
By David Penn Posted on
Categories: Best of Show, FinovateFall 2020, Finzly, Horizn, Lendsmart, Monit, Q2

Digitally or in-person, the live fintech demos continue to be one of the most popular and worthwhile features of our fintech conferences. This year was no different. FinovateFall Digital featured fewer demoing companies than in years past to better accommodate our COVID-induced, all-digital format. But, as always, the quality of demos was absolutely on point.

With that, let’s take a look at the companies that our attendees have awarded with Best of Show trophies at this year’s event.

Finzly with its BankOS open banking platform that helps banks innovate at speed by transitioning away from legacy technology. Video.

Horizn for its ability to help financial institutions accelerate digital adoption with customers and employees. Video.

Lendsmart for its AI-driven technology that solves for the lack of automation, transparency, and communication in the lending process. Video.

Monit for its finance application that gives small business leaders the insights and personalized guidance they need to manage their businesses successfully. Video.

Q2 for its online digital marketplace that makes collaboration between fintechs and financial institutions easier and more efficient. Video.

Thanks to all the companies that participated in FinovateFall Digital! And thank you, our FinovateFall Digital attendees, for making your voices heard and for being part of a very special event this year. We look forward to seeing many of you in a few months for FinovateWest!

Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their five favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The five companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2020 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018
FinovateSpring 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019
FinovateMiddleEast 2019

FinovateEurope 2020

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Finzly Teams Up with Derivative Logic

Finzly Teams Up with Derivative Logic
By David Penn Posted on
Categories: Finzly

A new partnership between digital banking solution provider Finzly and independent hedge advisory firm Derivative Logic will help regional banks better serve their commercial borrowers.

“We see our mission as helping community banks and credit unions better compete in the marketplace by offering services and capabilities on par with – and even exceeding – those of much larger institutions,” Finzly CEO and founder Booshan Rengachari said. “By partnering with an industry leader like Derivative Logic, our financial institution customers, and their own commercial borrowers, benefit from access to world-class hedge advisory services that are proven to positively impact their balance sheets.”

Finzly’s open, cloud-based bank operating system, BankOS, enables financial institutions to integrate and offer a wide variety of third-party services. Courtesy of this partnership with Derivative Logic, the company will enable banks to offer interest rate hedge capabilities to their commercial clients. Derivative Logic Managing Director Jim Griffin called these services “a true strategic differentiator for banks and credit unions” when it comes to attracting commercial customers.

“Through our partnership with Finzly, we help small-to-mid-size financial institutions overcome the complexity of offering these capabilities as we advise and assist our bank customers with pricing, swap documentation, compensation plans, negotiations with dealers, hedge accounting as well as assist with borrower-facing processes,” Griffin said.

Finzly’s partnership announcement is only the latest in headline-making news from the Charlotte, North Carolina-based fintech. Since its debut at FinovateFall a year ago, the company has partnered with a regional bank in California to drive the institution’s international banking services, teamed up with Arvest Bank to streamline the Arkansas-based community bank’s trade finance operations, and announced the availability of its contactless consumer digital account opening solutions.

See Finzly for yourself as the company returns to the Finovate stage for FinovateFall Digital, September 14 through 18. Visit our registration page today and save your spot for our latest all-digital fintech event.

Photo by Karim MANJRA on Unsplash

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