IDology Study Examines the State of Privacy, Trust, and Consumer Digital Identity

IDology Study Examines the State of Privacy, Trust, and Consumer Digital Identity

Earlier this week we shared our conversation with IDology CEO Christina Luttrell on the challenges and opportunities in the digital identity verification space. This fall, IDology was honored at the 2021 Finovate Awards, winning recognition as “Best Identity Management Solution.”

A few weeks later, IDology released its 4th Annual Consumer Digital Identity Study. Surveying nearly 1,500 U.S. consumers over the summer of 2021, the study sought insight into what it called “the insecure, COVID-weary consumer.” How have preferences shifted in the balance between security and privacy on the one hand, and the willingness to share their personal information in order to access services that in many instances became especially valuable during the pandemic on the other? How have expectations grown as consumers’ reliance on new digitally delivered services has increased? And what steps can companies take in order to gain and keep valuable trust relationships with their customers?

These are just a handful of the questions addressed in IDology’s latest “heat check” on consumers and digital identity.

Finovate: IDology just published its 4th Consumer Study. What is the goal of this report and what can you tell us about your findings? 

Christina Luttrell: This marks our fourth year publishing the Consumer Digital Identity Study to help businesses understand important shifts in consumer perceptions and preferences about fraud and identity verification. This year’s study showed us that, more and more, consumer trust hinges on the ability of businesses to safeguard identities and keep consumer data private, particularly during online account opening and onboarding.

Needless to say, consumers today have experienced seismic shifts in how they live and work, becoming increasingly reliant on all things digital. When we conducted this survey, the COVID-19 pandemic was entering its 16th month and the Delta variant accounted for the lion’s share of new infections. The results of our survey show a weariness that only a once-in-a-lifetime global pandemic can create and, with the emergence of variants such as Omicron, the potential for more uncertainty.

Customer fatigue has undoubtedly impacted consumer practices and preferences relative to the security of their identities, particularly their willingness to hand over personal information. We also observed a growing need for trust-based online relationships, which was evident in the level of protection consumers expect companies to put in place to safeguard their data and ensure privacy.

This report pays close attention to how consumers view the threat of fraud and the never-ending waves of cyber breaches. We also spotlight consumer expectations regarding privacy, why they do not trust businesses to be good stewards of their data, and what can be done to foster trust, especially during the online account opening and onboarding experiences.

From our vantage point, this survey shows that the intersection of fraud, trust, privacy, compliance, and new customer engagement continues to grow in its significance. Consequently, excelling in today’s environment requires embedding identity verification at the center of every digital interaction.

The full study can be downloaded from our website, but a few of the trends we uncovered are:

  • The safety and security of the mobile channel are of critical importance to consumers and companies alike. Twenty-four percent of consumers report that their mobile devices have been compromised since the pandemic began. Consumer concern about smartphone malware attacks has increased 34% year-over-year, and nearly half believe their mobile device is more vulnerable than their personal computer.
  • Consumers expect more identity fraud. Ninety-six million Americans expect the number of fraud attempts involving their identity or accounts they own to increase over the next 12 months. Amid the rise in unauthorized account openings, 61% are concerned their personal information will be used by criminals to open a new financial account. At the same time, many Americans appear ill-prepared to protect their data. Only 45% believe they have the wherewithal to defend themselves against cyber-attacks and fraud.
  • Trust in companies to responsibly use consumer data is on the decline. Seventy percent suspect that companies gather data without their permission, and 59% don’t think companies do enough to safeguard the Personal Identifiable Information (PII) they possess. This raises significant worries for consumers, with 53% very or extremely concerned with the practice, which explains why 90% support legislation similar to the California Consumer Privacy Act (CCPA) in their states or at the federal level.

A well-respected industry thought leader, Christina Luttrell was recognized in 2018 by One World Identity as a top 100 influencer in identity verification. She has been named one of the leading women in security by Security Magazine and in 2019 was selected as one of Atlanta’s “Women Who Mean Business” by the Atlanta Business Chronicle. In 2021 she was recognized by Global InfoSec Awards as a top “Woman in Cybersecurity.” Under Luttrell’s leadership, IDology has experienced dramatic growth.


Photo by RODNAE Productions from Pexels

COVID-19, IDology, and Securing the Digital Handshake

COVID-19, IDology, and Securing the Digital Handshake

With new vaccines helping stoke confidence in a post-COVID summer, if not spring, what has the pandemic – and the work-from-anywhere movement it accelerated – revealed about the security of our increasingly digital world?

We caught up with Christina Luttrell, who took over the top spot as CEO of IDology last fall, to discuss the company’s latest look into the state of cyberfraud today. A Finovate alum since 2021, the Atlanta, Georgia-based identity verification provider published its report: The COVID-19 Effect on Identity, Fraud and Customer Onboarding earlier this year. Below, Ms. Luttrell shares some of its findings.

What is the biggest takeaway from your report on fraud?

Christina Luttrell: As COVID-19 drove 84 million Americans online for services that were previously carried out in person, businesses faced an influx of new customers to onboard. In response, many appeared to loosen fraud controls in an effort to reduce friction and simplify onboarding, particularly for digital “newbies.”

With this loosening, combined with COVID-19 factors such as dispersed fraud teams, remote work, stimulus checks, and sophisticated phishing and synthetic identity fraud (SIF) schemes, it’s easy to understand why fraud attempts surged to a four-year high. Also not surprising is the emergence of mobile as the most targeted channel, evidenced by an astounding 89% increase in fraud attempts likely due to an increased reliance on mobile devices during the pandemic.

In the report each year, we’ve seen businesses struggle with the challenge of balancing fraud with customer friction. Businesses drive revenue by greenlighting customers, which includes removing barriers and minimizing effort during the onboarding process to avoid unnecessary “friction.” Yet they must do so while deterring fraud. This challenge is exacerbated by current events and the state of fraud and, as a result, verification of identities was cited as the top challenge to fraud deterrence among businesses. Many have come to the conclusion that, at its core, fraud is an identity problem and 86% firmly view digital identity verification is a strategic differentiator across all industries.

When it comes to the future, 79% of businesses expect fraud to increase in 2021. With the COVID-induced shift to digital, fresh collection of more Personally Identifiable Information (PII) from 2020 and potential economic conditions, this is likely to be a “bust out” year for fraud.

How quickly have fraudsters followed the migration to digital channels during the COVID-19 crisis?

Luttrell: From our study, The COVID-19 Effect on Identity, Fraud and Customer Onboarding, we know that between March and July of 2020, 37% of Americans online activated an online service that was done offline prior and 46% said they have used their smartphone more often to sign up or apply for a new service. As a result, one-third of businesses experienced a customer shift of 50% or more to digital channels. In 2020, the number of new accounts opened with a mobile phone increased 43%. Fraudsters tend to follow the masses and the money and, in 2020, as those consumers went digital, criminals were quick to follow, employing rapidly shifting tactics, which was reported as a top challenge to fraud deterrence for 40% of businesses.

Mobile fraud attempts surged 89% in 2020 with increases across all fraud types, from spoofing and cloning to porting. With more consumers relying on digital information sources and businesses sending a higher number of customer communications, 56% of businesses reported phishing attacks as one of the most prevalent forms of fraud in their industries. 

The pandemic provided a prime opportunity for fraudsters to take advantage of distracted Americans, the increase in digital communication between businesses and consumers and government relief efforts. Our research shows that 84 million Americans reported experiencing a phishing attack attempt in the months following the pandemic’s start, with an average of four attempts per person between March and June.

How have cybersecurity professionals effectively responded to this shift?

Luttrell: It appears cybersecurity professionals responded rapidly to this shift as best they could, but COVID-related disruption and distraction, such as remote working and government relief checks, put a wrinkle in plans and added a new layer of complexity to fraud detection and the consumer experience. Fraud is an identity problem, making identity verification the essential “digital handshake” and element of establishing trust. We expect to see more companies rely on the orchestration of blanketed layers of identity attributes, artificial intelligence, and integrated verification methods to remove friction and deter fraud.

Successfully onboarding new customers and building long-term loyalty in today’s rapidly shifting fraud landscape will require businesses to act quickly. On the back end, they will need to understand how identity verification attributes are performing so they can make adjustments to attributes that pinpoint fraud on an extremely granular scale while streamlining the verification process for real customers.

What kinds of fraud are increasingly prevalent – especially compared to the pre-COVID-19 period?

Luttrell: Aside from COVID-related fraud, such as vaccination schemes, the fundamental methods of remain relatively unchanged. Instead, the shift has occurred in the sophistication and amount of fraud which, as I mentioned, is rising across the board compared to pre-COVID numbers.

Credit, debit, and prepaid fraud were reported as the most prevalent by 63% of businesses, followed by phishing, account takeover, ACH/wire and first-person fraud. ACH/wire fraud spiked by 15% – presumably because of rising P2P usage due to social distancing and first-party, specifically “friendly or know fraud,” increased 28%. This may be attributable to chargeback fraud schemes as many Americans were unemployed, underemployed or suffering in shape or form financially, thereby increasing their pressure and rationalization of committing fraud.

Your report mentions the issue of synthetic fraud in the PPP lending program as specific challenge. Can you elaborate on this problem and what should be done?

Luttrell: A range of fraud schemes were used to exploit PPP in 2020, one of the most concerning being synthetic identity fraud (SIF). According to McKinsey, this is the fastest growing type of financial crime in the U.S. A recent report by Aite Group revealed that among 47 financial institutions surveyed, 25% experienced an increase of 10% or more since the start of the pandemic. Our own research also underscores the SIF problem, which hit an all-time high, with a 43% increase in SIF reported by respondents to the IDology Fraud Report.

SIF continues to trouble businesses, especially given the challenges associated with decentralized fraud teams working from home and the need to interpret and apply once-in-a-lifetime changes in consumer behavior and the swings and noise they create. There are also the problems created by the never-ending stream of data breaches, and the use of personally identifiable information gathered from phishing attempts and other scams that continue to thrive in the COVID era.

To quickly issue PPP loans and prevent fraud, lenders should reconsider the importance of Know Your Customer (KYC) measures. Placing a focus on strong KYC is not only best business practice, it also will help lenders prevent fraud and maintain integrity. To easily and securely ensure a borrower is who they claim to be and provide a smooth experience while battling fraud, such as SIF, the identity verification process supporting KYC should include multiple layers, control of the entire identity verification process and the flexibility to make and automatically deploy configuration changes and machine complimented with human intelligence. 

How would you characterize the business world’s response to these new threats, especially in financial services?

Luttrell: The business world, as a whole, responded admirably. Consider the massive logistical shifts that needed to happen in months, if not weeks, from the mass migration of working from home to customer engagement and the shift toward digital. On a human scale, it’s a breathless achievement. Eighty-seven percent of businesses feel their organization is equipped to some degree to make the necessary changes to stay ahead of rapid digitization and COVID-19 fraud trends, indicating they recognize and perhaps, have a higher than expected sense of confidence.

Although two-thirds of Americans feel companies could be doing more to protect their identities, confidence in organizations being able to protect their data actually increased in comparison to pre-COVID-19 levels. Our data shows that financial services organizations are stepping up, forecasting larger anti-fraud investments and budgets for 2021, and leaning into a multi-layered approach to identity proofing as well as using diverse sources and types of data. Eighty percent of financial institutions expect to increase budgets on fraud deterrence in 2021, with 45% saying significantly, more so than any other industry. Though the investment varies by sub-sectors such as fintech, lenders and prepaid, prepaid firms appear to be most aggressive. 

How do you think the post-COVID cybersecurity landscape will differ from the pre-COVID cybersecurity landscape?

Luttrell: The cat and mouse saga continues and the chase maze has become significantly more complicated. The lesson for many, in hindsight, is that strong, thoughtful and comprehensive digital identity verification is mission-critical. The digital handshake is essential in establishing trust.

Fraud knows no borders and the world is small and inter-related, as is identity verification. Address verification as part of identities is not only critical for accurate verification, but also for the delivery of essential items and resources. Americans have migrated much of their lives to digital, forever. 

Identity collaboration between businesses and with customers will be more sought after, and technology, such as artificial intelligence, will need to be supplemented with high-touch layers of human intuition, proactive detection, fraud expertise, and consortium intelligence from other organizations. This is especially important as COVID introduces novel fraud schemes that can fool pre-COVID identity proofing methodologies. As was the case with major events in the past, the outcomes and unintended consequences of the pandemic are unknown but we know that fraudsters are harvesting data, scheming, probing new defenses, partnering with nation states and utilizing artificial intelligence to scale fraud on a global basis.  


Photo by Rodolfo Clix from Pexels

Trust and Identity in the Digital World; PayPal Joins the Crypto-Curious

Trust and Identity in the Digital World; PayPal Joins the Crypto-Curious

IDology on the challenge of faster, safer, easier cybersecurity – When it comes to using digital services, consumers are increasingly concerned about fraud, but still tend to underestimate the severity of cybercrime more broadly. Consumers are also more likely to abandon online account set-up than they have been in recent years. And while they rate security above both ease-of-use and speed when it comes to the onboarding experience, any friction in the security process can be costly.

These are some of the takeaways from the just-released report from real-time identity verification company IDology. The company’s Third Annual Consumer Digital Identity Survey takes a look at consumer attitudes toward cybersecurity, the willingness of consumers to work with companies that have suffered a cyberattack or data breach, and the ability of consumers – and fintech innovators – to balance between security and seamlessness.

“So while consumers overwhelmingly demand security,” the report noted, “there’s only so much friction they are willing to endure to receive it.”

Other insights from the survey, conducted between February 25 and March 7 of this year and including 1,499 online respondents, underscored the fact that consumers increasingly see their mobile devices as both a “component” of their identity as well as a tool for facilitating digital interactions. The report concluded that identity verification “can serve as a strategic differentiator” for organizations competing in the digital environment.


PayPal Letter Confirms Company’s Interest in Crypto – News that PayPal has been developing cryptocurrency capabilities, including reports that PayPal and Venmo would soon enable their users to buy and sell cryptocurrencies directly, have been a welcome sign for innovators in the digital asset space. PayPal’s initiative was revealed in a letter the company sent to the European Commission in June, which expressed PayPal’s views on a “regulatory framework for blockchain, distributed ledger technology, and crypto-assets”.

Interestingly, PayPal emphasized the capacity of cryptocurrencies to play a positive role in improving financial services for underserved communities. “Of particular interest for us is how these technologies and crypto-assets can be utilized to achieve greater financial inclusion and help reduce/eliminate some of the pain points that exist today in financial services,” the letter read.


Here is the latest news from our Finovate alums.

  • Salt Edge partners with Irish fintech OnlineApplication to help the company improve its mortgage application process.
  • Educational Systems Federal Credit Union to deploy digital banking technology from Finastra.
  • Revolut launches Open Banking features for its customers in France.
  • Open banking platform Tink acquires credit decision solution provider Instantor.
  • Data security specialist ALTR launches Stackable Margins program in bid to broaden its channel community and add new partners.
  • Sitehands reports that its current President and Chief Operating Officer Chris Corrado will become the company’s next Chief Executive Officer.
  • Lendio named one of the 2020 Best Places to Work in New York by Work and Fortune. The company also announced a strategic partnership with Web.com.
  • Altamaha Bank of Georgia partners with Ondot Systems to bring the company’s card management app to its debit cardholders.
  • Orion Advisor Solutions merges with investment management company Brinker Capital.
  • Fenergo wins the Breadth of Functionality category at the xCelent Awards 2020.
  • Finance and Commerce profiles automated account switching specialist, ClickSWITCH.
  • Stockhead features Identitii in its look at Australian fintechs that are embracing collaboration rather than disruption.
  • Biometric Update looks at Illuma Labs and how credit unions are adopting its voice biometric authentication technology.

Finovate Alumni News

On Finovate.com

  • Onfido Unveils International Partner Program.
  • Pepper Power: HSBC Brings Robot Retail Banking to FinovateFall.

Around the web

  • Blockchain launches The PIT, an institutional-grade crypto trading platform.
  • IDology appoints Christina Luttrell as COO.
  • Featurespace delivers ARIC Fraud Hub with banking, payments, and processing solution provider Contis.
  • FIS closes acquisition of Worldpay.
  • TurkishBank teams up with Token to ensure PSD2 compliance.
  • Revolut hires former Metro Bank finance director David Maclean as its new Chief Financial 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.

Finovate Alumni News

On Finovate.com

  • Realty Mogul Surpasses 300 Properties Funded.
  • Ixaris Partners with Banking Circle on Cross-Border Payments.
  • Finovate Global: Indian Fintechs Raise Capital; Expensify Partners with Asian RideShare Startups.
  • Marqeta Inks Deals with Four European Partners.

Around the web

  • Hypepotamus highlights Featurespace CEO Martina King, and her thoughts on a diverse workforce.
  • The WSJ features AI Foundry in its look at integrating AI into mortgagetech.
  • Kony DBX and IDology partner to offer authentication and ID verification services.

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.

Yes, Banks Can Compete with Apple’s New Credit Card

Yes, Banks Can Compete with Apple’s New Credit Card

What’s in your wallet? Or rather, what’s in banks’ clients’ wallets? Some sexy competition appeared on the market yesterday, as Apple announced the pending launch of its own credit card in collaboration with Goldman Sachs and Mastercard.

The card is touted more for its mobile and digital qualities than its shiny titanium finish. Despite the shine, however, many of the card’s features and offerings aren’t new. And that’s good news for banks. While traditional financial institutions aren’t as sexy as tech companies such as Apple, they are generally viewed as more trustworthy. And with that kind of foundation, all banks need to do is piece together the features into their own credit card offering and market it properly.

Fortunately, there are plenty of fintech firms out there to help. Here are some of the features Apple is promoting and a list of corresponding fintechs that can help banks take the same approach.

Physical card security

Apple boasts a titanium card with the customer’s name etched on the front– no credit card number, no cvv code, no expiration date. All of that information is tucked away inside the app. Physical card innovator Dynamics takes a similar (though admittedly less visually appealing) approach. The Pennsylvania-based company offers a computer-in-a-card that hides part of the card number, the cvv code, and expiration date on the physical card until the consumer enters their PIN into the card. As an added bonus, Dynamics also offers in-card loyalty and rewards features, as well as a card that hosts multiple numbers, allowing customers to toggle between debit and credit cards.

Chat functionality

As a company that is known for simplifying technology, Apple is taking a similar approach with its customer service. “Have a question? Just text,” is the message the company features on its card website. Fortunately, there are plenty of fintechs that help banks simplify their customer experience. Two such companies are Finn.ai and Clinc, both of which leverage AI to save banks money on customer service representatives, while simplifying and expediting access to answers via a chat interface.

PFM

One way to win over customers is to convince them you’ll help them organize their finances and ultimately save them money. That’s why Apple is offering in-app PFM capabilities. And while the technology hasn’t changed much since it debuted before the fintech craze, the colorful user interface is beautiful enough to convince anyone to want to look at their spending behavior.

Banks have seemingly endless options to compete with this feature. And while most financial institutions currently offer some sort of PFM capabilities, it’s worth looking at it from a superficial point of view. Utah-based MX and Sweden-based Tink both offer visually-pleasing interfaces that are arguably more beautiful than Apple’s and are backed by powerful PFM engines.

Mobile app security

Apple’s iPhone holds the hardware for both fingerprint and facial recognition technology, and since the company is reinforcing its focus on security, it is leveraging biometrics for account access. With the right software, banks can leverage fingerprint and facial recognition technology as well. Jumio, IDology, and Mitek all offer technology banks can implement for fast account access, as well as account onboarding.

Fast onboarding

With access to consumer data, Apple has an advantage of being able to quickly onboard new consumers using existing consumer information. There are multiple fintechs that help banks onboard consumers quickly, as well, including Digital Onboarding, Q2’s Gro Solutions, and Fenergo. Digital Onboarding motivates customers to open new accounts using incentives and gamification. Gro Solutions touts the ability for customers to open and fund accounts in under four minutes. And Fenergo takes a holistic approach to onboarding, providing banks a lifetime view of the client to help perform data refreshes, ongoing due diligence, and upsell and cross-sell opportunities.

Rewards

Credit card rewards programs may seem like a feature of the past, but rewards are certainly still relevant. With its new card’s rewards program, Apple once again seeks to simplify things by offering consumers daily rewards. Two fintechs, Cardlytics and Cartera Commerce, offer tried and true loyalty and rewards programs. These offerings not only boost consumer loyalty, they also offer banks further insight and analysis into consumer spending.

Apple’s new credit card is shipping this summer. Fortunately for banks, fintechs are here to help them compete.

UK-based GBG Acquires IDology in $300 Million All-Cash Deal

UK-based GBG Acquires IDology in $300 Million All-Cash Deal

Identity verification and fraud prevention specialist IDology has been acquired by U.K.-based identity data intelligence firm, GBG, for $300 million (£233 million) in cash.

The deal will give GBG broader reach into the North American market; in a statement, the company said 99% of IDology’s revenues come from the United States. The acquisition will also add technologies like IDology’s ExpectID suite of onboarding, verification, and authentication solutions, to GBG’s offerings. IDology’s senior management team will remain intact, with the company’s employee base joining GBG.

“For the past fifteen years, IDology has provided multi-layered identity verification,” company president and CEO John Dancu said. “With the combination of IDology and GBG, we intend to innovate, delivering exceptional solutions for our customers, focusing on driving customer revenue and preventing fraud.”

IDology reported revenues of more than $38 million in 2018, at a CAGR of 16% and EBITDA of more than $16 million. In addition to praising the company’s growth, GBG CEO Chris Clark characterized IDology as a valuable partner in its mission to make broader inroads to the $1.5 billion U.S. identity verification market.

“With attractive organic growth, significant synergies and a strong cultural alignment, this is a high-quality addition to GBG,” Clark said. “The combination of IDology and GBG will enable us to meet the growing customer appetite for an identity verification provider with global capabilities and scale in key markets.”

The acquisition comes amid a new partnership announced between IDology and healthcare enterprise identification firm, NextGate. The Enterprise Master Patient Index (EMPI) platform will use IDology’s technology to help its customers improve accuracy in patient ID matching and bolster data collection and remediation work. IDology also recently announced that Dancou had been named to the Top 100 Influencers in Identity 2019 roster published by One World Identity.

IDology demonstrated its ExpectID Enterprise solution at FinovateFall 2012. Last year, the Atlanta, Georgia-based company was featured in the Silicon Review’s roundup of the 50 Fastest Growing Tech Companies. IDology was also named one of the Best and Brightest Companies to Work For in Atlanta by the National Association for Business Resources.

Finovate Alumni News

On Finovate

  • UK-based GBG Acquires IDology in $300 Million All-Cash Deal.
  • NetGuardians Teams Up with Swiss Wealthtech Pictet to Fight Fraud.
  • Finastra Brings its Core Banking Technology to Saudi Arabia.

Around the web

  • BBVA unveils first blockchain-supported structured green bond.
  • Strands introduces Engager 2.0, the newest edition of its AI and machine learning powered financial insights generator.
  • Avaloq’s banking suite goes live with the Austrian division of international private banking and asset management group, LGT.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.
  • Baker Hill earns nomination for The Best Tech in Indiana in TechPoint’s 20th annual Mira Awards.
  • CardFlight’s SwipeSimple now enables more than 50,000 merchants across all 50 states of the U.S.

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.

20 Finovate Alums Earn Spots on One World Identity’s Top 100 Influencers List

20 Finovate Alums Earn Spots on One World Identity’s Top 100 Influencers List

When you think about it, what’s cooler than being named to a Who’s Who list in the world of digital identities?

One World Identity, an independent identity research and strategy company that specializes in cybersecurity, digital commerce, and risk management, published its roster of the Top 100 Influencers in Identity this week. This year, 20 Finovate alums made the cut. The individual influencers – as well as the companies they work for- are listed below.

As with last year’s roster, this year’s list was compiled by taking nominations submitted via Twitter, LinkedIn, and at oneworldidentity.com. The staff and advisory council for One World Identity whittled down the initial list of more than 1,000 nominees to a final 100.

One World Identity began as a project from a group of Google employees back in 2015. The company was officially launched the following year as a way to help spur innovation and collaboration in the field of digital identities. Travis Jarae is founder and CEO.

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

  • Coinbase Names Asiff Hirji as President and Chief Operating Officer.
  • ID.me Teams Up with General Motors to Support Military Discount Program.

Around the web

  • Forrester Research names TIBCO a leader in Enterprise Data Virtualization.
  • Entrust Datacard acquires cloud cryptographic service provider, Trustis Limited.
  • Finastra finishes testing to provide connectivity to the European instant payments infrastructure.
  • The Silicon Review features IDology in its list of the 50 fastest growing tech companies in 2017.
  • Credit Strategy reviews how Intelligent Environments won the Best Collections Technology Award.
  • Voleo enables cryptocurrency trading on its SimuTrader App.

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

  • PayPal Makes Strategic Investment in Online Lender, LendUp.
  • Summit View: Trends and Challenges for Digital Lenders.

Around the web

  • OakNorth Bank is first European FI to deploy nCino’s Bank Operating System.
  • Avoka opens new office in Germany to support German-speaking banks in the DACH region.
  • IDology unveils ExpectID Call Verification to help fight call center fraud.
  • Klarna teams up with Knomo to give new purchase options to Knomo shoppers.
  • Bill.com announces deeper integration with Intuit’s QuickBooks.
  • DefenseStorm readies for July webinar on cybersecurity for financial services.

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.