Finovate Alumni News

On Finovate.com

  • CardFlight Aligns with Payscape to Expand Merchant Base.

Around the web

  • PaySimple announces latest payment integration with MarketSharp’s CRM software.
  • Equifax selects Experian to provide customers free credit monitoring through its TrustedID Premier service.
  • QuotePro and Fiserv partner to speed credit for cash payments at self-service kiosks.
  • Singapore-based WeInvest expands to UAE.
  • PYMNTS: OnDeck loan origination volume increased double digits YoY and sequentially, the volume up 22% from the 2017 third quarter
  • Mitek appoints Max Carnecchia as CEO.

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.

Fiserv Finalizes Acquisition of Elan Financial Services’ Debit Processing Solutions

Fiserv wrapped up some important business today. The Wisconsin-based financial services company finalized its acquisition of debit processing technology from U.S. Bank’s Elan Financial Services; a deal Fiserv first announced in September. Terms of the acquisition, which does not include the Elan credit card issuing and corporate payments businesses, were undisclosed.

Fiserv will benefit from Elan’s debit card processing, ATM Managed Services, and MoneyPass network. MoneyPass is the second largest fee-free network in the U.S., offering users access to more than 33,000 ATMs across the nation.

On the other side of the table, Fiserv will offer Elan clients services including risk management solutions, access to the Accel debit payments network, and enhanced debit platform capabilities. As Tim Welsh, vice chairman of Consumer Banking Sales and Support at U.S. Bank explained, “Our customers will now benefit from the long-term commitment Fiserv has for this business and its clients and U.S. Bank will benefit as we continue to reinvest in our core businesses.”

President and CEO of Fiserv, Jeffery Yabuki, said, “This acquisition expands our capabilities and provides additional expertise, which together should enhance the value we provide our clients.”

Fiserv recently appeared on the FinovateSpring 2018 stage alongside Samsung SDS, where the two showcased how Samsung SDS integrates its biometric authentication and collaboration solutions into Fiserv’s Commercial Center: Security (CC:S) to create a more secure and convenient digital banking experience. Earlier this fall, Fiserv launched a new digital origination solution, Originate.

Finovate Alumni News

On Finovate.com

  • SigFig Launches CoPilot, a Digital Wealth Platform for Financial Advisors.
  • Fiserv Finalizes Acquisition of Elan Financial Services’ Debit Processing Solutions.

Around the web

  • Eltropy partners with NWCUA to Bring Text Messaging to More than 180 Northwest Credit Unions.
  • CashStar named one of the best places to work in Maine for 8th consecutive year.
  • Lighter Capital appoints Anthea Louie as Chief Marketing Officer.
  • CCN names Crypterium among top 5 coins to watch in 2018.
  • Fenergo Launches Client Lifecycle Management Solution for Natixis.

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

  • Quid Lands $37.5 Million Round Led by Lexis Nexis Parent
  • NTT DATA Services to Acquire Sierra Systems.

Around the web

  • Equifax partners with consents.online to develop Open Banking solutions.
  • Fiserv powers digital banking platform for Bogota Savings Bank.
  • Neener Analytics launches pilot with MAPFRE Insurance.
  • Best Innovation Group deploys Geezeo PFM SDK.
  • BioCatch partners with 7 tier-one Latin American banks.

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.

Fiserv Partners with UK-Based Co-operative Bank

Fiserv announced that UK-based Co-operative Bank will implement its FinKit for Open Banking, “to provide more flexibility for customers to choose how they conduct their everyday banking in relation to the European Union’s Second Payment Services Directive (PSD2)”, reports Tanya Andreasyan of Fintech Futures (Finovate’s sister publication).

The two parties have a long-standing relationship.

The cloud-based managed service delivery model of FinKit for Open Banking appealed to the bank, Fiserv explained, because it will help facilitate the many aspects of open banking compliance, from secure customer authentication to management of trusted third parties (TPPs).

FinKit for Open Banking includes access to pre-built APIs and facilitates ongoing compliance through API version control and publishing. This positions the bank to respond efficiently and effectively to the rapid pace of regulatory and industry change, the vendor explains.

FinKit originates from a UK-based mobile paytech provider, Monitise, which was acquired by Fiserv last year.

“Open banking is an area of continual change, and Co-operative Bank is positioned to move ahead of the curve,” noted Lee Cameron, managing director, EMEA, Fiserv (and formerly CEO of Monitise).

Fiserv was founded in 1984 and is headquartered in Brookfield, Wisconsin. The company most recently demonstrated its technology at FinovateSpring 2018, partnering with Samsung SDS America to show new biometric authentication features for its digital banking experience, Fiserv Commercial Center.

With more than 12,000 clients and more than 24,000 associates around the world, Fiserv trades on the NASDAQ under the ticker “FISV”. The firm has a market capitalization of $32 billion. Jeffery Yabuki is president and CEO.

Fiserv and DadeSystems Help Banks Bring Automated A/R to Business Clients

Courtesy of a new partnership between financial services technology solution provider Fiserv and DadeSystems, more banks will be able to access automated account receivables (A/R) technology which they can offer to their commercial clients as either a SaaS or standalone solution.

“Businesses spend too much time manually posting payments to invoices – a process prone to error and costly in terms of time and resources,” VP of Product Management for Fiserv’s Payments Management Solutions division, John Dangoia said. “By offering DadePay AR Automation, we empower financial institutions to further enrich customer relationships by reducing the need for businesses to manually enter payments into their accounts receivable systems.”

Miami, Florida-based DadeSystems leverages machine learning, advanced optical character recognition technology, and its own patented, AI-based algorithms to automate the invoice-to-cash application process. The company’s DadePay AR Automation solution captures both paper and electronic incoming payments automatically, matches them to open invoices and updates the companies’ ERP systems. DadePay also features a mobile AR app and an ePayment portal. Combined, the suite provides faster payment processing with greater efficiency and cash collection, and lower fees.

“Many businesses are demanding new types of electronic payment and data analytics services,” President and CEO of DadeSystems, Bill Zayas, said, “yet their treasury and finance departments are slowed down by manual and outdated processes. Through this relationship with Fiserv, banks can help their business customers overcome these obstacles with technology from a provider they know and trust.”

In its most recent Finovate appearance, Fiserv demonstrated an integration of Samsung SDS biometric authentication and collaboration technology into its Commercial Center: Security solution. The authentication methodology leverages non-duplicative biometric data – fingerprint, voice, and facial scan – to make the user experience more seamless and secure. Real-time video chat, e-signatures, and annotated screen sharing are among the features available via Samsung’s digital collaboration features.

Headquartered in Brookfield, Wisconsin, Fiserv was founded in 1984, and had global revenues of $5.7 billion in 2017. Trading on the NASDAQ under the symbol “FISV,” the firm has a market capitalization of $33 billion.

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.

Finovate Alumni News

On Finovate.com

  • FinovateFall 2018 Best of Show Winners Announced.

Around the web

  • Prisma Campaigns partners with Tyfone to bring new personalized, automated marketing solutions to banks and credit unions.
  • CFCU Community Credit Union to deploy solutions from Fiserv to enhance its mobile, online, and in-branch customer experience.
  • CREALOGIX reports record sales in 2017-2018 fiscal year.
  • Bpm’online earns recognition from Gartner for its accomplishments in CRM Lead Management.
  • Indonesia’s Bank Central Asia goes live on iGTB’s digital transaction banking platform.
  • Tinkoff Bank offers access to more than 10,000 global securities via its Tinkoff Investments Premium 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

Around the web

  • Coinbase teams up with Hong Kong-based crypto trading and risk management platform Caspian to promote institutional use of cryptocurrencies.
  • Insuritas to launch digital insurance platform for 13,000+ member Oklahoma Educators CU.
  • Finastra unveils Fusion Essence in the cloud, an integrated core and digital retail banking service for the U.K. market.
  • Global Debt Registry announces addition of new ABS asset classes to its blockchain platform offering.
  • Fiserv inks deals with a trio of Canadian credit unions: Crosstown Civic CU, Noventis CU, and IC Savings.

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.

Fiserv Helps Bring Voice Banking to the Aloha State

Voice banking is coming to the customers of First Hawaiian Bank, courtesy of Amazon Alexa and the bank’s decision to extend its partnership with Fiserv.

President and COO of First Hawaiian Bank Eric Yeaman highlighted the firm’s long relationship with the Brookfield, Wisconsin-based financial services leader. “We have been working with Fiserv for several years to enhance our digital services and empower our customers with a wider range of choices in banking convenience,” he said. “With voice-driven technology playing a bigger role in people’s lives, the time was right to introduce voice banking into that mix.”

Voice banking capabilities will be available to customers via Amazon Alexa. Initially, customers will be able to check balances and review transactions; the bank will review customer preferences and demand to determine which additional capabilities will be added. The deployment marks the first use of voice banking technology from a bank or credit union based in Hawaii, and seeks to take advantage of the growing number of – and higher engagement from – voice banking users.

“Voice banking is another way the bank is expanding the spirit of service and connecting with customers through intelligent interactions that reflect how people live today,” President of Digital Banking for Fiserv Kevin Schultz said. He referred to the $20 billion institution as a “customer-focused bank” with a “reputation for exceptional service.”

With assets of more than $20 billion, First Hawaiian Bank was founded in 1858 as Bishop & Company. The firm has 55 branches in Hawaii, with another three on Guam, and two on Saipan. It is the largest bank in the state.

Fiserv most recently demonstrated its technology at FinovateSpring 2018 – partnering with Samsung SDS America to show the integration of biometric authentication with its Commercial Center platform. Founded in 1984, Fiserv serves more than 12,000 clients around the world and reported global revenues of $5.7 billion last year.

Fiserv trades on the Nasdaq under the ticker “FISV,” and has a market capitalization of $32 billion. Jeffrey Yabuki is CEO.