Finovate Alumni News

On Finovate.com

  • Trusted Key Raises $3 Million for Passwordless Authentication.
  • Student Loan Genius Picks Up $4.7 Million in New Funding.

Around the web

  • Argentine prepaid services provider Nubi partners with Mambu.
  • Mitek to provide KYC for cryptocurrency broker BTCDirect.
  • Flywire and Billtrust collaborate to improve cross border accounts receivable for Billtrust customers.
  • BioCatch offers its behavioral biometrics solution as an integrated module to the ForgeRock platform.
  • Personal Capital partners with benefits firm Alight Solutions and asset manager AllianceBernstein.
  • OurCrowd is set to hit $1 billion in crowdfunded assets in 2018.

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 Global: Fintech News from the Periphery

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from the Periphery is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Asia

  • Singapore Business Review names Turnkey Lender and Bambu among Singapore’s hottest startups.
  • Citi introduces Facebook Messenger bot in Singapore as initial stage of wider worldwide rollout. (link)
  • Revolut founder and CEO Nikolay Storonsky discusses plans for APAC expansion with TechWireAsia.

Africa

  • Flywire and Flutterwave partner on cross-border payments & receivables in Nigeria.
  • Africa-based fintechs picked up almost one third of all Venture funding in Africa in 2017, according to a report from Disrupt Africa.
  • Village Capital Fintech Africa Cohort 2018 lists its incoming class of 12 startups.

MENA

  • Fintech Circle and Abu Dhabi Global Market (ADGM) to launch fintech education courses.
  • Gulf News Banking takes a look at the digitization of the fintech sector in the Middle East.
  • Bahrain-based security startup, Eazy Financial Services, launches first biometric payment network in MENA.

LATAM

  • Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender.
  • Alipay partners with Openpay to connect Chinese consumers with merchants in Mexico. (link)
  • Amazon.com unveils first debit card in Mexico as part of e-commerce initiative.

CEE

  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Sberbank to host the first International Cybersecurity Conference in July.
  • CEE Fintech Survey for 2017 cites Poland’s fintech industry as the region’s most vibrant.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender.
  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Hyperwallet’s Partnership with Lyric Brings Advance Royalty Payments to Artists
  • SumUp Facilitates Cashless Donations for the Church of England.

Around the web

  • AutoGravity announces new partnership with Infiniti.
  • New alliance with Mainsys helps bolster Temenos presence in Belgium.
  • Currencycloud unveils Global Collections to enable customers to receive cross border payments with less cost and less friction.
  • Flywire and Flutterwave partner on cross-border payments & receivables in Nigeria.
  • Cardlytics announces Q4 and full year 2017 financial results.
  • Somerset Trust Company selects Digital Onboarding for fully automated new account activation.
  • Finicity announces integration agreement with Ellie Mae to provide its digital asset verification solution through Ellie Mae’s Encompass platform.
  • XM.com expands use of Paydentity from iSignthis for China eKYC.

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.

Flywire Acquires OnPlan Holdings

Global payment and receivables solutions company Flywire announced today it has acquired OnPlanU and OnPlan Health, both subsidiaries of OnPlan Holdings. The terms of the deal were undisclosed.

OnPlan Health is a web portal and payment solution that offers providers an automated way to settle patient balances. OnPlanU is a student billing and payment solution that enables universities to automate account setup and payments and set up tailored payment schedules for students.

Flywire said that clients have been pushing the company to offer the ability to manage payments and receivables from a single platform. CEO Mike Massaro said that the acquisition “brings a tremendous amount of technical capability and domain expertise to address it. In a short period of time, [OnPlan has] built a very strong product.”

The acquisition not only furthers Flywire’s reach into the healthcare payments space, it also adds more depth to the company’s education payments offerings. Adding OnPlan’s capabilities makes Flywire’s solutions more holistic, covering a range of globally-available services, including:

  • Invoicing
  • Secure payment processing
  • Consumer engagement
  • Recurring payments
  • Automated payment plans
  • Payment tracking
  • Reconciliation
  • Past due payments

OnPlan’s CEO John Talaga and CTO David King will join Flywire’s leadership team, bringing their expertise in healthcare. Talaga will lead Flywire’s healthcare segment, while King will lead the company’s product and development teams focused on education and healthcare. The rest of the OnPlan team will merge into Flywire, working from OnPlan’s Chicago-based office.

Talaga said that Flywire and OnPlan solve “distinct, but related problems, both taking cost and friction out of the payment and receivables process.” He continued, “While we complement their platform in several important ways, Flywire offers OnPlan tremendous scale with supportive and engaged investors, capital for growth, access to new markets, and a global customer support infrastructure.”

Discussing the deal in a press release, managing director of Bain Capital and Flywire board member Matt Harris said, “Both firms share a culture that is all about how to make life better for their clients. That, combined with their complementary capabilities, makes this a perfect fit and will add tremendous value for their customers.”

Flywire, which originally launched as peerTransfer in 2011, facilitates international payments for healthcare, education, and business. The company is headquartered in Boston with operations in the U.K., China, Japan, Singapore, Australia, and Spain. The company’s platform processes billions of dollars in payments every year in over 120 different local currencies, connecting more than 1,400 businesses and universities with their customers.

At FinovateSpring 2011, the company presented its original tuition payment platform. Last August, Flywire expanded its operations to Japan and formed a partnership with Volvo to help international student lease vehicles. Flywire has raised a total of $43.2 million.

Finovate Alumni News

On Finovate.com

  • ShopKeep Integrates First Data’s Clover POS Technology.
  • Ledger Raises $75 Million in New Funding.

Around the web

  • Liferay featured among Gartner’s Digital Experience Platform leaders.
  • Blue Code mobile payments solution for banking apps goes live on Temenos Marketplace.

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

  • Vera Hires First Chief Financial Officer and Adds Technical Talent.
  • Akamai Appoints Former Verizon CIO as Chief Information Officer.
  • Wealthfront Rakes in $75 Million.
  • Daon Forges Strategic Partnership with North African Technology Innovator GEMADEC.
  • Ghana Government to Leverage Entrust Datacard to Issue National ID Cards.

Around the web

  • Fintech News names Flywire 1 of 8 promising fintechs in Singapore to watch.
  • IDology listed among 50 fastest growing tech companies in 2017.
  • Fiserv VP of Product Strategy for Card Services, Jon Rosner talks about the pace of digital wallet adoption.

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

  • Kony to Launch Digital Banking Solution Leveraging Daon Biometrics.
  • Roostify to Preview Decision Builder Tool to Ease Loan Application Process.

Around the web

  • NCR introduces its cloud-based mobile payment solution.
  • FICO partners with GVNG to provide non-profits with AML and KYC solutions.
  • Trustly added to Flywire platform as a preferred payment option courtesy of new agreement.
  • nCino scores top spot in Aite Group report on global commercial loan origination.

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

  • Responsive Tiles from Geezeo Help Banks Build Personalized Digital Experiences.
  • Accenture Acquires Verax to Boost Canadian Operations.
  • Urban FT Bids to Acquire Digiliti Money [UPDATE: Bid Rejected]

Around the web

  • Let’s Talk Payments interviews David Vélez, founder of Nubank.
  • Visa to encourage Australian banks to embrace biometric authentication in new security roadmap.
  • InComm buys distribution rights to American Express’ prepaid reloadable and gift card business in the U.S.
  • Flywire Simplifies Compliance with New Cross-Border Education Payment Requirements in Ireland.

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

  • Mountain America CU Chooses Digital Banking Platform from Alkami Technology.

Around the web

  • i-exceed to power CANDI, a fully digital banking branch of Canara Bank. Come see i-exceed demo at FinovateFall next month.
  • PYMNTS.com highlights Flywire’s progress in Asia.
  • SocietyOne Celebrates Five Year Anniversary Of Helping Customers.
  • Visions FCU Implements Gro Solutions’ Digital Sales Platform to streamline new member acquisition. Check out Gro Solutions at FinovateFall next month.
  • First Alliance Credit Union Latest to Implement Larky Engagement Platform.
  • Fenergo earns top spot in the 2017 RegTech Performance Report for second year in a row.
  • Chase and OnDeck agree to continue collaboration on small business lending solutions.
  • NICE unveils its compliance recording solution, NICE Compliance Center.
  • Eugene Danilkis, CEO and co-founder of Mambu, talks digitization, credit scoring, and lending to small businesses.

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

  • Behalf Teams Up with FinWise Bank to Boost Small Business Lending Options
  • Samsung to Power Biometric Authentication Pilot for Bank of America
  • ACH Alert’s Fraud Prevention HQ Empowers Account Holders to Stop Suspicious Transactions

Around the web

  • PayPal unveils two new innovation labs in India.
  • Albany, New York-based SEFCU chooses Fiserv as technology partner.
  • FICO selects Amazon Web Services as its cloud provider.
  • SF Chronicle profiles mortgagetech innovator, Unison, in feature on downpayment assistance for Bay Area homebuyers. Join them next month in New York for FinovateFall.
  • GoBankingRates highlights AutoGravity, M1 Finance, Venmo, Mint in list of best personal finance apps
  • ID.me hires Julie Filion as Chief Marketing Officer.
  • eMoney Advisor moving into Rhode Island offices, expects to hire 100 by 2020.
  • Flywire Offers Summertime Deal for International Tuition Payments with Mastercard.
  • StreetShares adds Heather Tuason as new Chief Product 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.