Finovate Alumni News

On Finovate.com

  • Gusto Teams with Trainual to Automate Job Role Training.
  • Finovate Global: Finn AI Powers Chatbots in South Africa; Token Drives Open Banking in MENA.

Around the web

  • Green Dot helps Walmart customers move more than $2 billion through the program’s virtual Vault savings program.
  • Top Image Systems shareholders approve acquisition by Kofax.
  • BuyerQuest joins the Tradeshift platform as an app partner.
  • American Banker highlights how PayNearMe helps marginalized cash users partake in ecommerce.
  • Trustly grows to 300 employees.
  • Silicon Canals features SumUp, Aire, Revolut, and Zopa in its list of top fintech companies to work for in London.
  • Ripple, IBM, SWIFT and nearly 100 other organizations launch the International Association of Trusted Blockchain Applications (INATBA).
  • Forrester Research recognizes bpm’online as a “strong performer” in digital process automation for wide deployments in Q1 of this 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

  • eToro Launches GoodDollar to Reduce Income Inequality.
  • Zopa Seals Series G Investment En Route to Bank Launch.

Around the web

  • Privakey partners with FIDO board member Raonsecure to deliver joint solution to North America.
  • Green Dot reports record Q3 revenue of $230.6 million, up 14% from $201.6 million in Q3 2017.
  • Cardlytics expands U.S. Travel and Entertainment division with new appointment.
  • UOB’s Digital Bank advances customer-centric data solutions with Meniga.
  • Avaloq appoints Martin Greweldinger as Group Chief Product Officer.
  • LENDindex adds Centre’s USDC digital currency to its SME loan portfolio.
  • TransferWise secures £65 million syndicated debt facility with NatWest, JP Morgan, and LHV Bank.

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 Alums Take Top Honors at FinTech Breakthrough Awards

Dedicated to recognizing “the top companies and products in the financial services and technology industry today,” FinTech Breakthrough has announced its FinTech Breakthrough Award Winners for 2018. This marks the second year the independent organization has sponsored the fintech awards event, recognizing fintech startups and veterans from a wide variety of categories including payments, lending, investing, and regtech.

“The FinTech Breakthrough Awards serve as a testament to the passion, skill and vision of individuals and teams that are truly setting the standard for innovation in the global FinTech industry,” Managing Director for FinTech Breakthrough James Johnson said in 2017 during the Awards’ inaugural year. “We are thrilled to recognize all of the FinTech Breakthrough Award winners for their well-deserved industry recognition as they drive the global FinTech market forward.”

This year featured 20 Finovate alums earning top honors from FinTech Breakthrough. The names and Finovate demo dates for each winning alum – as well as the category they won – are featured below. For a complete list of 2018 FinTech Breakthrough Award Winners, visit the company’s awards announcement page.

Leadership

Consumer Lending

  • Innovation Award for Consumer Lending – Text for Credit by Experian (FF17)

Business Lending

Wealth Management

Payments

Investments

Consumer Banking

Financial Research and Data

Fraud Prevention and Transaction Security

This marks the second time both eMoney Advisor and ThreatMetrix have been honored by the FinTech Breakthrough Awards. Among last year’s winners were a significant number of Finovate alums including: Sindeo, BizFi, DriveWealth, Quovo, Jumio, Trulioo, Qumram, and Xero.

Finovate Alumni News

On Finovate.com

  • FinovateSpring 2018 Best of Show winners announced.

Around the web

  • TransferWise releases batch payments.
  • Bankrate features KeyBank’s acquisition of HelloWallet.
  • American Banker: Green Dot’s mobile growth distances it from its prepaid reputation.
  • Visa and PayPal extend partnership to accelerate adoption of digital and mobile payments in Canada.

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

  • PeoplesBank Partners with Gro Solutions to Enhance Mobile and Online Experience.
  • Stash Teams with Green Dot to Become a Challenger Bank.

Around the web

  • Lending Club announces Bahman Koohestani as Chief Technology Officer.
  • Yahoo partners with PayPal to make Braintree available to online sellers using Yahoo Merchant Solutions and Yahoo Stores platforms.
  • Main Street Softworks adds support for Bluefin’s Decryptx PCI-validated P2PE Decryption-as-a-Service.
  • PYMNTS.com features a conversation with Entersekt Chief Commercial Officer Dewald Nolte.

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

Around the web

  • Betterment unveils new multi-plan offering with access to human advisors.
  • Green Dot to acquire UniRush and its prepaid card business, RushCard, for $167 million.
  • Fidor partners with EPAM Systems to gain access to additional product development and software engineering talent.
  • D3 reports record revenue in 2016, up 160% from 2015.

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

  • Behavioral Biometrics Startup Zighra Lands $1 Million in Seed Funding
  • Tuition.io Appoints Former Yahoo CEO Scott Thompson as New CEO

Around the web

  • Commerce Bank chooses Temenos to upgrade core deposit banking system.
  • ThetaRay earns recognition from CIO Review as a top 20 financial services provider for 2016.
  • Financeit reports a doubling of its business since acquiring the home improvement financing assets of TD Bank.
  • Green Dot teams with WalMart to encourage Americans to build savings.
  • Bizfi expands its business lending capabilities through a new partnership with InterNex Capital.
  • OnWallStreet recommends advisers keep their eyes on Wealthfront’s Andy Rachleff; SigFig’s Mike Sha; and Betterment’s Jon Stein.
  • Passport acquires Arizona-based mobile parking payment startup ParkX.
  • P2P lender SocietyOne facilitates $126 million in loans in 2016, finishing a record-breaking year.
  • InComm expands partnership with Target Australia to offer gift cards in stores and online.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • WealthForge to Raise $2.5 Million in New Convertible Note Offering

Around the web

  • Green Dot unveils Visa credit card for thin-file consumers.
  • First National Bank of Pennsylvania upgrades its mobile banking and payments platform from Fiserv to enable debit card management.
  • Martech Advisor interviews Radius CEO and co-founder Darian Shirazi.
  • PYMNTS.com talks with Hyperwallet VP Tomas Likar about the challenge of payments in the on-demand workforce. See Hyperwallet at FinDEVr Silicon Valley 2016, October 18 & 19.
  • Radius announces the Radius Customer Exchange (RCX), a solution to advance co-marketing for B2B marketers.

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

  • Dashlane and Google Partner to Improve Online Security via Open YOLO
  • Prosper Closes in on $5 Billion Commitment for New Loans

Around the web

  • FIS and Arkansas Governor Asa Hutchinson extend VC FinTech Accelerator program to 2018.
  • Revolut app tops 250,000 users.
  • Narrative Science launches Solution Provider program.
  • Oprah Winfrey Network names WorthFM founder and CEO Amanda Steinberg to the inaugural Opray Winfrey Network SuperSoul 100.
  • Banking technology interviews Rivi Varghese, CEO of CustomerXPs Software.
  • American Banker: Profits, Revenue Forecast Rise at Green Dot
  • Zopa gives a rundown of its four-year history.

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 First Week of Nasdaq’s Fintech Index

While many of you were busy catching Pikachu last week, you may have missed that Nasdaq, in collaboration with KBW, launched an index to track financial technology. Officially named KBW Nasdaq Financial Technology Index (KFTX), the fund tracks 49 fintech companies, including 17 Finovate and FinDEVr alums.

On Monday, 18 July, the index opened at 1,000 points and closed at almost 1,014 points on Friday, 22 July.

Screen Shot 2016-07-25 at 2.52.11 PM

Finovate and FinDEVr alums listed in the index include:

According to Nasdaq’s press release, the companies in the index “represent roughly one-fifth (18%) of the investable domestic financial universe and nearly 4% of the investable domestic equity universe to account for approximately $785 billion in total market cap.”

It’s worth noting that the index, which will be rebalanced quarterly, does not consider activity from private companies, startups, or banks. Large, public companies may not be as sprightly as two guys in a garage, but they create their fair share of cutting-edge products and services. When creating the index, KBW and Nasdaq adhered to three guidelines:

  1. The companies mainly sell financial services
  2. Not primarily brick-and-mortar operated
  3. Income is generated from fees, rather than interest

Other companies in the index include (each company in the index is weighted equally):

Alliance Data Systems Corp. (ADS); Bankrate Inc. (RATE); Black Knight Financial Services Inc. (BKFS); BofI Holding Inc. (BOFI); Broadridge Financial Solutions Inc. (BR); Cardtronics Inc. (CATM); CBOE Holdings Inc. (CBOE); CME Group Inc. (CME); CoreLogic Inc. (CLGX); Dun & Bradstreet Corp. (DNB); Euronet Worldwide Inc. (EEFT); EverBank Financial Corp. (EVER); EVERTEC Inc. (EVTC); FactSet Research Systems Inc. (FDS); First Data Corp. (FDC); FleetCor Technologies Inc. (FLT); Global Payments Inc. (GPN); Intercontinental Exchange Inc. (ICE); MarketAxess Holdings Inc. (MKTX); Moody’s Corp. (MCO); MSCI Inc. (MSCI); Nasdaq Inc. (NDAQ); S&P Global Inc. (SPGI); SEI Investments Co. (SEIC); Square Inc. (SQ); SS&C Technologies Holdings Inc. (SSNC); Total System Services (TSS); The Western Union Co. (WU); VeriFone Systems Inc. (PAY); Verisk Analytics Inc. (VRSK); Virtu Financial Inc. (VIRT); and WEX Inc. (WEX).