Finovate Alumni News

On Finovate.com

  • Q2 and ALTR Leverage the Blockchain to Boost Data Security.
  • Neustar Helps TELUS Fight Caller ID Spoofing.
  • Fintech OS Raises $1.2 Million.
  • Personetics Unveils AI-Enabled Small Banking Solution.
  • SparkPost Launches Predictive Email Intelligence Platform.

Around the web

  • Meniga opens an office in Barcelona, Spain.
  • Coinbase extends support for USD Coin (USDC) trading in 85 countries.
  • Finastra hires Mark Miller as new Chief Financial Officer.
  • Fenergo announces API integration with global financial markets data provider Refinitiv.
  • Hastings Direct extends deal with Equifax by signing a multi-year deal.
  • SDC and Tink partner to give 120 Nordic banks access to account aggregation and payment initiation services.
  • Kony Quantum powers Qualifacts’ new CareLogic mobile app.
  • WireBarley partners with Currencycloud to boost its operations in the U.S.
  • Lendio named to Fortune’s Best Workplaces in Financial Services & Insurance.
  • BlueVine taps Herman Man 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.

Kony Taps MX for PFM Tech

Everyone, including fintechs, gets by with a little help from their friends. That must be what digital banking solutions provider Kony and financial data expert MX were thinking when they joined forces this week.

Under the agreement, Kony will leverage MX’s PFM expertise to bolster Kony DBX, its digital banking experience product. Specifically, Kony will use MX’s data services for PFM and tap into the company’s solutions for spending categorization and classification.

Explaining the decision to partner, Kony DBX SVP and GM Jeffery Kendall described access to clean, actionable financial data as “critical” for banks and credit unions to meet customer expectations. “We are excited to collaborate with MX to deliver valued-added data services for Personal Financial Management and spending categorization and classification solutions that will give consumers a clear view of their financial health. In addition, banks and credit unions can also gain insight so they can better tailor their digital banking offerings to their customers and members,” said Kendall.

Don Parker, EVP of partnerships at MX added, “Together, and through Kony’s expansive partner network, we will help more banks, credit unions and fintech developers grow faster, reduce costs, and deliver exceptional experiences to their customers.”

The first client of the joint solution is CommonWealth One Federal Credit Union, a 33,000 member credit union with branches in Northern Virginia; Washington, D.C.; and Harrisonburg, VA. “By having access to clean, relevant and categorized data, we will be able to better serve and meet our members’ financial needs, and our members will also be able to aggregate and see all of their accounts in one place, said Larry Flory, CIO of CommonWealth One Federal Credit Union. “Having improved insight into their finances will enable our members to make better financial decisions.”

This is Kony’s second major enhancement this month to the Kony DBX platform. A little over a week ago the company partnered with Micronotes to bring Micronotes’ personalized conversation solution to Kony DBX’s bank customers.

Kony’s CTO Bill Bodin and Product Marketing Manager Antonio Sanchez showcased the company’s digital banking platform at FinovateFall 2017. Kony was founded in 2007 and is headquartered in Austin, TX.

MX was founded in 2010 and is partnered with more than 1,800 financial institutions and 43 of the top 50 digital banking providers. Headquartered in Lehi, Utah, MX is a six-time Finovate Best of Show winner, having most recently presented at FinovateFall 2017, where it demoed Discovered Accounts.

Finovate Alumni News

On Finovate.com

  • Refundo to Return Tax Refunds in Bitcoin.
  • Klarna Brings its Alt Payment Options to Brick and Mortar Retail Shoppers.

Around the web

  • Kony and Micronotes team up to bring Micronotes’ personalized conversation solution to banks using Kony DBX.
  • SecureKey’s Verified.Me identity verification solution is now available for consumers of CIBC, Desjardins, RBC, Scotiabank and TD across Canada.
  • Fenergo working with Bahrain’s Electronic Network for Financial Transactions to design and implement a KYC solution that incorporates blockchain technology.
  • NIIT Technologies’ AdvantageGo launches Underwriting, a solution that consolidates and provides all underwriting functions into a single platform.
  • GreatHorn awarded U.S. patent for new email impersonation detection method.
  • Onfido, Alphapoint earn spots in the inaugural cohort of cross-border regulatory sandbox, Global Financial Innovation Network (GFIN).
  • Envestnet unveils new suite of analytical tools for financial advisors, Envestnet Advisor Analytics.

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.

Finovate Alumni News

On Finovate.com

  • Kazakh Eurasian Bank Upgrades Cash Tech with Fiserv.
  • Token.io Teams Up with Omnio Group to Boost Open Banking.
  • Financeit to Power Mobile POS Financing for ServiceTitan.
  • Expensify Integrates with Southeast Asia Ridesharing Company Grab.

Around the web

  • The Five Minute Founder podcast interviews Jake Tyler, Finn AI CEO.
  • STRANDS and adorsys expand their partnership for digital transformation for global financial services.
  • Signifyd to power fraud protection for Solupay’s NetSuite SuitePayments.
  • Kony ships Kony Quantum for Microsoft Azure and Kony DBX digital banking suite on Kony Quantum for Azure.
  • Connect Financial Software Solutions partners with CuneXus to offer the CuneXus perpetual loan automation platform to its credit union clients.
  • Georg von Brevern joins Ixaris as Chief Legal and Compliance Officer.
  • Telenor to acquire majority stake in the Finnish telecom operator DNA.
  • Crypterium launches Crypterium SX, an AI-based system that ensures all transactions get the best exchange rates available.
  • Omnio Group and Token.io partner to deliver open banking and PSD2 compliance to Omnio’s financial institution customers.
  • Raiffeisen Bank International partners with Feedzai to bring advanced ML to European banking to fight fraud.
  • Jack Henry’s ProfitStars unveils Gladiator Total Protect, a suite of managed IT, network security, and compliance services to enhance banks’ cybersecurity and compliance management.

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

  • Kantox Closes $5.7 Million to Bring More Tech to FX.
  • Payfone Raises $24 Million in Round Led by TransUnion.

Around the web

  • Kony helps Amway drive digital innovation for business owners across 100 countries and territories.
  • Revolut adds 5 new currencies to the app including: MXN, SAR, RUB, HRK, and BGN.
  • Entersekt expands operations, opening second office in Cape Town.

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

  • Germany’s aixigo Forges Strategic Partnership with Synpulse.
  • The Rise of AI and the Role of the Customer in Fintech.

Around the web

  • Payment service provider Truevo to deploy front office and core banking solutions from Temenos.
  • Klarna launches global customer authentication platform for multinational businesses.
  • Fintech OS announces new Chief Revenue Officer Leon Stevens.
  • Best of Show winner Voleo takes home the 2019 Best Stock Trading App award in the Investment category of the FinTech Breakthrough Awards.
  • Trunomi unveils new website, branding.
  • Kony teams up with Okta to provide ID management and MFA.
  • FindBiometrics interviews Jeff Maynard, CEO and Founder of Biometric Signature ID.
  • Tradeshift to power supplier solutions for Axfood.

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

  • Once SaleMove, Glia Raises $20 Million in Post-Rebrand Funding.
  • Doxo to Provide Electronic Billpay Solution to R.R. Donnelley & Sons Company.

Around the web

  • Low code development platform OutSystems reports record revenues for 2018.
  • NICE Robotic Process Automation (RPA) teams up with CallVU.
  • Finastra named a leader in the IDC MarketScape: Worldwide End-to-End Corporate Banking Solution Providers 2019 Vendor Assessment report.
  • Kony named a leader for low-code development platforms by independent research firm.
  • OurCrowd announces it has raised $1 billion to date.

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.

Kony Helps Morocco’s CFG Bank Transition to Digital First Banking

Morocco’s CFG Bank is focusing on “digital-first banking” and is working with Kony, a U.S.-based digital banking tech specialist, on “long-term digital transformation strategy”, according to the vendor, reports Fintech Futures (Finovate’s sister publication).

The strategy is “built on the pillars of simplicity, transparency and sustainable customer relationships”, Kony explains. “Central to that strategy is CFG Bank’s dynamic app built on Kony’s digital banking platform, Kony DBX, which provides a more modern digital banking experience.”

The two parties have been working together since 2016. Together, they built “a digital banking app designed so that customers could retake control of the vast majority of banking transactions, and rely on physical branches for ‘life moments’, such as plans for funding educational goals or detailed processes around investments and inheritance”, Kony says.

Driss Benchafai, general manager at CFG Bank, said that to succeed in Morocco’s banking environment, “it’s essential to be unique”.

“It’s not enough to provide the same services or similar features as other banks,” observed Benchafai. “Rather, we must craft a customer experience that is tailored, simple and that empowers customers with the ability to complete services and transactions how and when they want.”

Benchafai felt Kony “has played a significant role in helping CFG Bank stand out from other banks”.

The two firms are now exploring further capabilities, such as data analytics, behavioral analysis and artificial intelligence (AI), to improve future iterations of CFG Bank’s digital banking experience.

Founded in 2007 and headquartered in Austin, Texas, Kony demonstrated its Retail Banking Solution at FinovateFall 2017. The company has raised more than $115 million in funding, and includes Insight Venture Partners, SoftBank Capital, and Telstra Ventures among its investors.

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.

Asia-Pacific

  • Digicro receives $300,000 in funding to help fuel its entry to the mobile microfinance market in Cambodia.
  • Monetary Authority of Singapore considers strengthening oversight of bank outsourcing.
  • Fintech News Malaysia looks at the challenges of transitioning toward a cashless society.

Sub-Saharan Africa

  • Quadient announces partnership with South Africa’s Beehive Online Solutions.
  • TechNext looks at the lessons Nigeria can learn from the success of Kenya’s M-Akiba investment mobile app.
  • All Africa reports on the increased use of mobile money in Tanzania.

Central and Eastern Europe

  • Sberbank launches its first IT Demo Day in partnership with 500 Startups.
  • Romania’s Oney Bank partners with Wirecard to bring additional functionality to its mobile app.
  • Sberbank and its subsidiary Sberbank Technology unveil open source-based communications platform for developers, engineers, and architects.

Middle East and Northern Africa

  • Oman-based bank Sohar International integrates biometric authentication into its mobile banking app.
  • Emirates NBD introduces The LaunchPad to help startups connect with angel and early-stage investors.
  • Morocco-based CFG Bank chooses Kony to help drive its digital transformation.

Central and South Asia

  • India’s Federal Bank goes live with its open banking platform.
  • Finca Impact Finance Tajikistan launches search for a new core banking system.
  • Inc.42 features 5 Trends in Fintech You Will See in 2019 in India.

Latin America and the Caribbean

  • Brazil’s largest bank, Itau Unibanco, leverages AI-powered cameras to suspicious behaviors in branches.
  • Scotiabank and The Instituto Tecnológico y de Estudious Superiores de Monterrey (ITESM) unveil new accelerator, Factory A, in Mexico City.
  • Argentina’s Banco Columbia implements Visa Loyalty Solutions en route to its digital transformation.

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