Finovate Alumni News

On Finovate.com

  • Fiserv Drives Digital Transformation for NEFCU.
  • DemystData Lands $12.5 Million for its Data Marketplace.
  • CashFlows Partners with Akamai for Defense Against DDoS Attacks.
  • Wealthfront Acquires Financial Planning Startup Grove.

Around the web

  • SumUp to power card payments for Fleximize members.
  • Wipro teams up with Blue Prism to launch new automation lab in Australia.
  • AiThority talks with DataSine CEO Igor Volzhanin on the role of machine learning and AI in marketing technology.
  • IdentityMind picks up new patent for digital identity-based automated review.
  • Tink urges regulators to “be flexible” when it comes to the implementation deadline of September 14 for PSD2.
  •  Flybits named to the Digital Finance Institute’s list of Canada’s Top 50 Fintech Companies for 2019.

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

  • New partnership between Starling Bank and SumUp to provide faster settlement to U.K. merchants.
  • ACI Worldwide unveils its strong customer authentication (SCA) toolbox.
  • Payoneer announces deal with Indian payments processing firm Paytabs.
  • Launchfire’s Lemonade named to 2019 Top Training Companies roster for gamification companies.
  • GoodFirms features bpm’ online among its list of top business process management (BPM) software providers.
  • Insuritas to power digital insurance agency for Marquette Bank.
  • Herald Extra highlights Lendio’s role as a “matchmaker” for small business lending.
  • Flybits to open a New York office in the city’s financial technology hub.
  • W.UP now a member of Five DegreesOpen Banking Marketplace.
  • Personetics opens R&D center in Nazareth.
  • Nvstr earns a spot in the Financial Venture Studio’s incoming cohort.
  • CREALOGIX introduces new Chief Financial Officer Daniel Bader.

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

  • Digital Finance Institute features Ethoca, Financeit, Flybits, Horizn, On Deck Canada, Salt Edge, Sensibill, and TickSmith in its look at the top fintech companies in Canada in 2019.
  • AdviceRobo launches new pan-European PSD2 categorization and default prediction API for lenders, CatRobo.
  • Thomson Reuters purchases regtech collaboration platform, HighQ.

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.

Flybits Secures $35 Million in Series C Led by Point72 Ventures

In a round led by Point72 Ventures, contextual data intelligence specialist Flybits has raised $35 million in new funding. The fresh capital takes the company’s total equity financing to $50 million, and will help drive its growth in EMEA, Latin America, and the U.S.

The Series C round featured participation from Mastercard, Citi Ventures, and Reinventure, which was backed by Westpac Banking Corporation of Australia. Existing investors Portag3 Ventures, TD Bank Group and Information Venture Partners contributed to the round, as well.

The financing will also enable Flybits to commercialize its portfolio of AI and machine learning patents, as well as make enhancements to UX and design. Flybits also plans to launch a marketplace to make it easier for financial institutions, fintechs, and financial data providers to collaborate on new products and services.

“Banks are looking for ways to maximize their use of data and better engage with customers, but are having a hard time executing and scaling this on their own or by leveraging passive PFM (personal financial management) services,” Flybits founder and CEO Dr. Hossein Rahnama explained. “Flybits enables banks to use real-time data and contextual intelligence to shift to those new models and go to market with them faster without over reliance on their IT department.”

Point72 Ventures Partner Tripp Shriner shared Rahnama’s view on this new challenge for banks and other FIs, whom Shriner said “are struggling to communicate with their customers about their products and services in the digital environment.” He praised Flybits for developing a “superior end-to-end solution for personalization of the digital customer experience.”

Today’s investment comes just a few months after Flybits announced that it was a key enabler of the Mastercard Contextual Engagement Solution. The technology is the first product built using the Mastercard Innovation Engine and helps drive contextually-relevant and personalized digital engagement. Last fall, Flybits announced it would work with TD Bank Group to provide enhanced, “micro-personalized” mobile experiences to the bank customers.

Founded in 2013 and headquartered in Toronto, Ontario, Canada, Flybits demonstrated its contextual recommendation engine at FinovateSpring in May. The technology leverages behavioral data and combinations of data sets to provide a deeper understanding of individual customer behavior and preferences based on collective experiences.

Finovate Alumni News

On Finovate.com

  • Revolut and TrueLayer Team Up to Ease Access to Open Banking Data.
  • Flybits Secures $35 Million in Series C Led by Point72 Ventures.
  • Launchfire’s Lemonade Takes Off as Standalone SaaS Brand.

Around the web

  • Avaloq integrates OneSpan’s anti-fraud technology into its SaaS banking platform.
  • PayPal’s international money transfer acquisition, Xoom, goes live across Europe.
  • SumUp secures €330 million debt financing.
  • Ritholtz Wealth turns to Betterment’s Betterment for Advisors, a white label online investing solution, to power its Liftoff automated investment 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.

FinovateSpring Sneak Peek: Flybits

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

Flybits’ contextual recommendation engine helps financial institutions deliver hyper-personalized products, services, and content when their customers need it most.

Features

  • Go-to-market fast with Concierge
  • Enable a data ecosystem (unify any source of data)
  • Deliver high-impact personalization, without IT complexity

Why it’s great
The company’s interactive experience will demonstrate the Flybits advantage of speed, scale, and impact.

Presenters

Jordanne Pavao, Product Manager
Pavao is a Lead Product Manager at Flybits. She obtained both her BFA in New Media and MA in Media Production at Ryerson University in Toronto, Canada.
LinkedIn

Katrina Shiu, Product Management & CX
Shiu helps drive product management and customer experience at Flybits.
LinkedIn

Finovate Alumni News

On Finovate.com

  • NYMBUS Helps Drive PNB’s New Digital Only Bank.

Around the web

  • Mercury Payment Solutions and Arion Bank select Fiserv AML Technology.
  • Challenger bank Monzo to use Jumio’s Netverify for customer identity authentication.
  • Neener Analytics selected by FIS for investment and participation in The Venture Center Accelerator
  • Launchfire wins Gold at the 2019 Hermes Creative Awards.
  • Jack Henry & Associates named a Best Place to Work in Kentucky for Seventh Consecutive Year.

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

  • Fighting for Customers: Will Tech Giants or Big Banks Win the Data War?
  • PayPal’s Walmart Partnership Makes a Move for the UnderBanked

Around the web

  • UK payments startup SumUp launches a 3G-powered credit card reader.
  • Worldpay extends real-time payouts to 50+ countries.
  • TD Bank Group and Flybits expand Canadian banking technology relationship to provide TD customers enhanced, personalized mobile experiences.
  • BlueRush lands co-selling agreement with Valeyo’s network of more than 95 Canadian financial institutions.
  • Tradeshift teams with credit insurer Coface to ensure greater financial transparency between buyers and suppliers.

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.

FinovateSpring Sneak Peek: Flybits

A look at the companies demoing live at FinovateSpring on May 8 through 11, 2018 in Santa Clara, California. Register today and save your spot.

Flybits offers an end-to-end intelligent recommendation platform that enhances enterprises’ digital personalization strategy.

Features

  • Fast time-to-market – go from ideation to production within 90 days
  • Data unification – seamlessly normalize public and proprietary data
  • Privacy first – data tokenization to protect consumer privacy

Why it’s great
Flybits offers an end-to-end solution that hides the complexity of data intelligence, enabling enterprises to harness endless sources of public and proprietary data.

Presenters

Dr. Hossein Rahnama, Founder and CEO
Rahnama is a recognized figure in ubiquitous computing. His research explores AI, mobile human-computer interaction, and contextual services. He is currently a visiting scholar at the MIT Media Lab.
LinkedIn

Justin Lam, Software Engineer, Product
Lam has been a software engineer at Flybits since its inception in 2013. He has a passion for DevUX and has led the development of both web and mobile projects, including Flybits’ JavaScript SDK.
LinkedIn

Finovate Alumni News

On Finovate.com

  • BillShark Lands Funding and Advisory Backing from Mark Cuban.
  • Revolut Unveils New Savings Solution, Vaults.

Around the web

  • Openbank, Santander Group’s digital bank, to deploy WealthSuite from Temenos.
  • The Victory Bank chooses ProfitStarsCommercial Lending Center Suite to support commercial loan growth.
  • Identity verification provider Onfido names David Clarke as new CFO.
  • First National Bank of Eagle Lake in Texas partners with Insuritas to launch bank-owned insurance agency.
  • NTT Data announces successful completion of PoC data analysis trial for Bank of England, Join NTT Data at FinovateSpring, May 8-11.
  • CAN Capital hires Tom Davidson as Chief Financial Officer.
  • Entrust Datacard’s IntelliTrust Authentication Solution wins Frost & Sullivan’s 2018 North American Technology Leadership Award.
  • TechCrunch: Twilio’s wireless platform hits general availability.

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.