Finovate Alumni News

On Finovate.com

  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
    • Xero’s new invoicing experience available for all Xero customers and partners over the next two weeks
    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API 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 Global: Fintech News from Around the World

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

    Latin America and the Caribbean

    • Brazil’s Nubank announces debit options for its digital savings account.
    • Infocorp spinoff Bankingly raises $5.25 million in Series A funding in round led by Elevar Equity.
    • Vocalink to modernize Peru’s electronic payments infrastructure courtesy of new deal with the company’s automated clearinghouse, Cámara de Compensación Electrónica (CCE).

    Asia-Pacific

    • UNPay expands QR code payments.
    • Indonesian lending and payments firm, Pohon Dana, picks up investment from Mayapada Group.
    • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
    • Fenergo wins Fintech Exporter of the Year award from Asia Matters.
    • Juvo expands across Asia with regional headquarters in Singapore.

    Sub-Saharan Africa

    • Experian purchases South African credit information and analytics firm Compuscan for $263 million.
    • Ecobank partners with MFS Africa to offer cross-platform digital payments to customers.
    • Emergent Technology acquires Ghana-based Interpay Africa.

    Central and Eastern Europe

    • Sberbank offers clients new strategies for investment life insurance.
    • Finastra opens new offices in Romania.
    • Backbase powers omni-channel digital services for Poland’s BGŻ BNP Paribas bank.
    • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

    Middle East and Northern Africa

    • UAE and Saudi Arabia launch blockchain-powered, cross-border payments proof of concept.
    • Temenos announces partnership with Tunisia’s Banque de l’Habitat.
    • Token brings open banking to MENA region.

    Central and South Asia

    • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
    • Currencies Direct taps Ripple’s xCurrent for real-time remittances to India.
    • Fintech News Singapore features BankBazaar in its round up of 10 Hot Fintech Startups from India to Watch Closely.

    Top image designed by Freepik

    Finovate Alumni News

    On Finovate.com

    • EVRY Wins $75 Million Contract.
    • Best of Show Winner Voleo to Help Drive Social Trading in Europe.
    • FI.SPAN Raises $4 Million for U.K. and Australia Expansion.

    Around the web

    • Sberbank offers clients new strategies for investment life insurance.
    • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
    • Anorak earns a spot in FinSMEs’ Top 10 U.K. Insurtech Startups to Watch in 2019 roster.
    • Intuit relaunches its redesigned ProAdvisor program in the U.S., Canada, and Australia.
    • DataSine and FinovateFall Best of Show winner Golden join the Envestnet | Yodlee Incubator’s latest cohort.
    • API platform provider for banking and insurance NDGIT announces strategic partnership with Synpulse.
    • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
    • PYMNTS highlights WePay Co-founder Rich Aberman in its latest podcast.
    • Jack Henry & Associates introduces a voice-driven consumer billpay 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

    On Finovate.com

    Around the web

    • Finicity CEO Steve Smith honored as a 2018 HousingWire Vanguard.
    • Ohpen launches the Ohpen API Portal (OAP) in beta.
    • PYMNTS talks with Entersekt SVP of Product Niel Bester about consumer trust.
    • Kony teams with PSECU to deliver digital banking technology.
    • Hudson River Financial FCU selects Digital Onboarding to enhance new member experience with updated onboarding

    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 Around the World

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

    Central and South Asia

    • Visa takes minority stake in Indian payment gateway BillDesk.
    • Swift India partners with MonetaGo to pilot blockchain-based banking.
    • India FinTech Forum (IFF) announced the 20 companies recognized at its India FinTech Awards (IFTA), including Finovate alums Hydrogen, iProov, Ocrolus, and James Finance.

    Latin America and the Caribbean

    • Elevar Equity leads $5.25 million investment round for Uruguayan fintech, Bankingly.
    • Banco Original, a Sao Paulo, Brazil-based FI, to deploy FICO Origination Manager and FICO Application Fraud Manager.
    • First Data launches Clover Mini and Clover Flex in Argentina.

    Asia-Pacific

    • Finastra gives Singapore banks top marks in its inaugural Open Banking Readiness Index.
    • FinLab accelerator introduces its smart business transformation program for Thailand small businesses.
    • SmartPesa brings its softPOS contactless card acceptance via NFC phone running Android – to Singapore and South East Asia.

    Sub-Saharan Africa

    • South African financial services company, Discovery, to launch “behavioral bank.”
    • Nigeria’s central bank proposes fintech licensing regime to help manage cyber risk, capital adequacy, and operational oversight issues.
    • A “hands-off” attitude toward regulation is credited for helping boost Uganda’s emergent fintech sector.

    Central and Eastern Europe

    • Poland’s Braintri merges with iCompass.
    • The Polish Financial Supervision Authority names the Heart as one of operators for its regulatory sandbox for companies developing fintech solutions.
    • Ingenico Group teams up with Russia’s Sberbank to enable MOIR card payments for online purchases.

    Middle East and Northern Africa

    • Study from Mena Research Partners calls for major gains in fintech funding in the MENA region over the next ten years.
    • Egypt Innovate features ten Egyptian startups “following the world’s fintech trend.”
    • The Tehran Times looks at the “challenges and opportunities” of fintech innovation in Iran.

    Top image designed by Freepik

    Finovate Alumni News

    On Finovate.com

    • Finablr Takes Majority Stake in Digital Gifting Innovator Swych.
    • Simple Appoints Former Amazon Exec as CEO.

    Around the web

    • Analyst Ian McKenna highlights six Finovate alums – Access Softek, Bucket Technologies, Systelos, BlueRush, Tinkoff, and Golden – in his roundup of “fintech innovators making waves.”
    • Marketing Technology Insights interviews CallVU CEO Ori Faran.
    • Hydrogen, iProov, Ocrolus, and James Finance are among 20 startups competing for top honors at the India FinTech Awards 2018.
    • The Constant Investor’s Crypto Watch interviews Identitii CEO Nick Armstrong on the role of blockchain technology in fighting cybercrime.
    • Tinkoff Mobile extends service to seven additional areas of Russia including Smolensk and the Republic of Mordovia.
    • Kofax pays $400 million in cash to buy Nuance’s imaging division.
    • Walmart’s in-store Direct2Cash service gives PayActiv users instant cash access to earned wages.
    • Kony enhances Kony AppPlatform to support progressive web apps.
    • CEO Review magazine features AdviceRobo CEO Diederick Van Thiel.
    • BehavioSec launches new features for version 5 of its behavioral biometrics 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.

    Hydrogen, TD Bank Partnership Drives DIY Financial Planning

    Clients of TD Bank’s TD Direct Investing will have new tools to build their own financial plans and portfolios – thanks to a newly-announced collaboration between the Canadian bank and fintech innovator Hydrogen. The two companies have entered into a licensing agreement that will integrate Hydrogen’s APIs into TD Bank’s WebBroker platform as the first phase of the partnership.

    “This is the first of several significant building blocks that will deliver a fully integrated, digital investing experience for TD clients,” Tony Ierullo, VP of Wealth Digital Innovation for TD Bank Group, said. “While our initial focus is on improving the self-directed investor experience, our ultimate goal is to bring best-in-class digital investing solutions to all TD clients, at every stage of their financial journey.” The agreement marks the first instance a Canadian bank has provided customers with the technology to build financial plans and investment portfolios on their own, all of which are integrated into the customer’s online brokerage account.

    “Hydrogen has built an interconnected global platform designed to provide access to some of the best financial infrastructure and products currently on the market,” President and CEO of Hydrogen Michael Kane said. “Our agreement with TD is testament to the power of embedding innovative digital solutions into established investment services.”

    Additional resources are planned for the platform, including the creation of a direct access digital advisor. Once additional phases of the rollout are underway, clients will have access to a fully-integrated, end-to-end digital investing platform for both self-service and “advice-led” investing – as well as those who want a mix of both.

    “Almost every industry has been disrupted due to the pervasiveness of technology and shifting customer preferences,” Kane said, “and the Wealth industry is no exception.”

    Hydrogen demonstrated its technology at FinovateEurope 2018, building a European savings solution – including UI/UX, onboarding, backend connectivity, and business intelligence – live on stage in five minutes. The firm’s APIs enable companies to save tens of millions on building and running a variety of financial services apps. The company is also the maker of the Hydro blockchain, the public ledger for financial services, and Ion AI, a machine learning technology for financial apps.

    Last month, the company launched the FINDI Consortium to “facilitate a more open, transparent, and decentralized global financial system” powered by public blockchains. In July, Hydrogen introduced the Hydro mobile app, a security and identity management solution that leverages the public blockchain. Winner of the grand prize at the Luxembourg Fintech Awards this summer, the self-described “Stripe for fintech” was founded in 2017 and is based in New York City.

    Finovate Alumni News

    On Finovate.com

    • Hydrogen, TD Bank Partnership Drives DIY Financial Planning.

    Around the web

    • Hackney London Borough Council leverages technology from OutSystems to enhance its digital services.
    • NCR inks partnerships with a trio of credit unions: Parsons FCU of California, Educators Credit Union of Texas, and AERO FCU of Arizona.
    • Anorak to provide life insurance advice to users of money management app, Yolt.
    • SaleMove wins top honors at Orion Advisor Services’ Ascent/FUSE 2018 conference. See SaleMove at FinovateFall in New York September 24-26.
    • Varo Money to deploy Temenos’ T24  core banking platform.
    • Digital lending platform Roostify announces its app is now available on the Salesforce AppExchange.

    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.

    Hydrogen Unveils FINDI Consortium to Boost Support for Public Blockchains

     

    One month after launching Hydro, a blockchain-based security and identity management mobile app, development platform Hydrogen has introduced a new entity. The Financial Industry Decentralization Initiative (FINDI), unveiled this week, will “facilitate a more open, transparent, and decentralized global financial system” – all powered by public blockchains.

    The goal of the consortium is to pave the way for Web 3.0, according to Hydrogen co-founders Michael and Matthew Kane. They see public blockchains as the ideal vehicle to ensure the kind of openness, transparency, and user controls that made blockchain technology so attractive in the first place. FINDI serves as an alternative to what Mike Kane referred to as “an aggressive campaign from private blockchain consortiums” that threatens to leave “billions around the globe” unable to take advantage of the benefits of what he called “the blockchain revolution.” This includes the estimated two billion people around the world who are among the unbanked.

    “Private blockchain is an oxymoron and centralized financial security is obsolete, as we have seen with recent hacks of Equifax, BMO, Coinrail, Banco, and Bithumb,” Kane said. “Together the members of FINDI can change the financial paradigm by leveraging public blockchains.”

    Hydrogen co-founder Michael Kane demonstrating the company’s platform at FinovateEurope 2018.

    Membership in FINDI is free, and the consortium welcomes financial professionals, startups, consultants, academics, and governments. With a focus on public blockchains, the consortium is both chain- and protocol-agnostic, and will support joint research and product development, host symposia, and provide industry consulting. In a statement, FINDI reported that its members oversee more than $1 trillion in assets, and projected having more than 100 members in its first year. Among FINDI’s initial associate members are fellow Finovate alum Wipro, the Dubai International Finance Center (DIFC), Natixis Investment Managers, and Principal Financial Group.

    Headquartered in New York City, Hydrogen demonstrated its platform at FinovateEurope 2018. The company’s technology enables developers to quickly build advanced fintech solutions to help consumers save, invest, buy insurance, and better manage their financial lives. Hydrogen is also responsible for developing the Hydro Blockchain, a public ledger for financial services, and IonAI, a next generation machine learning technology also geared to the financial services market.

    Last month, Hydrogen was honored by the Fintech Awards Luxembourg 2018, sponsored by KPMG Luxembourg and the Luxembourg House of Financial Technology. The company picked up €50,000 in prize money and will receive four months of hosting at Luxembourg’s co-working space, Technoport. Hydrogen was founded in 2017.

    Finovate Alumni News

    On Finovate.com

    • Onfido Helps TransferGo Onboard New Users Faster.
    • Hydrogen Unveils FINDI Consortium to Boost Support for Public Blockchains.
    • Ondot Brings Card Control Technology to PSCU.

    Around the web

    • AI Foundry teams up with ECM software provider MTS Software Solutions.
    • Joint solution between Jscrambler and Intertrust to provide protection for mobile and JavaScript apps.
    • Home Bank implements Loan Fulfillment Center (LFC) from Mortgage Cadence.
    • Tinkoff Bank begins offering loans to SMEs.
    • AlphaPoint hires Srikant Manda as Chief Information Security 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.