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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
CashDirectorearns a spot in Plug and Play’s Fintech Europe innovation platform.
Trustlypartners with ECOMMPAY to fuel online banking payments across Europe.
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.
NestReady to Enhance the Homebuying Experience at West Community Credit Union.
Around the web
Tearsheet interviewsFlybits CEO Hossein Rahnama on the challenge of digital transformation.
Facebook partners with HackerOne to launch bug bounty for its Libra Project.
Crowdfund Insider quotesUnison CEO Thomas Sponholtz and Lending Club CEO Scott Sanborn on the trend of fintechs considering a move from the San Francisco area.
Hanscom Federal Credit Union selectsDigital Onboarding to facilitate account activation.
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.
SumUpto power card payments for Fleximize members.
Wiproteams up with Blue Prism to launch new automation lab in Australia.
AiThority talks withDataSine CEO Igor Volzhanin on the role of machine learning and AI in marketing technology.
IdentityMindpicks up new patent for digital identity-based automated review.
Tinkurges regulators to “be flexible” when it comes to the implementation deadline of September 14 for PSD2.
Flybitsnamed 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.
Nvstrearns a spot in the Financial Venture Studio’s incoming cohort.
CREALOGIXintroduces 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.
Digital Finance Institute featuresEthoca, Financeit, Flybits, Horizn, On Deck Canada, Salt Edge, Sensibill, and TickSmith in its look at the top fintech companies in Canada in 2019.
AdviceRobolaunches new pan-European PSD2 categorization and default prediction API for lenders, CatRobo.
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.
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.
Ritholtz Wealth turns toBetterment’sBetterment 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.
A look at the companies demoing at FinovateAsia Digital on June 22, 2021. 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
Mercury Payment Solutions and Arion Bank selectFiserv AML Technology.
Challenger bank Monzo to useJumio’sNetverify for customer identity authentication.
Neener Analyticsselected by FIS for investment and participation in The Venture Center Accelerator
Launchfirewins Gold at the 2019 Hermes Creative Awards.
Jack Henry & Associatesnamed 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.
BlueRushlands co-selling agreement with Valeyo’s network of more than 95 Canadian financial institutions.
Tradeshiftteams 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.
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
Openbank, Santander Group’s digital bank, to deployWealthSuite from Temenos.
The Victory Bank choosesProfitStars‘ Commercial Lending Center Suite to support commercial loan growth.
Identity verification provider Onfidonames David Clarke as new CFO.
First National Bank of Eagle Lake in Texas partners with Insuritas to launch bank-owned insurance agency.
NTT Dataannounces successful completion of PoC data analysis trial for Bank of England, Join NTT Data at FinovateSpring, May 8-11.
CAN Capitalhires Tom Davidson as Chief Financial Officer.
Entrust Datacard’sIntelliTrust Authentication Solutionwins 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.
Presenters
Justin Lam, Software Engineer, Product