Finovate Alumni News

On Finovate.com

  • Avadian CU Chooses Jwaala’s Ignite Platform for Online and Mobile Banking

Around the web

  • Prosper sets up the Prosper Capital Consumer Credit Fund to invest in loans originated on its platform.
  • Kris Finsoftware and CustomerXPs Launch Clari5 for banks in AsiaPacific.
  • Excelian, Luxoft and Calypso Technology Sign New Partnership
  • Entrust Datacard teams up with Harman to safeguard IoT data.
  • Kabbage turns to Marketo for new marketing solutions.
  • Nomis Solutions upgrades its Deal Manager platform to give retail bankers greater insight into real-time sales and competitive data.
  • A look at fintech in Berlin and London highlights Mambu.
  • defiSOLUTIONS announces new partnership with eOriginal, a digital transaction specialist.
  • Investor’s Business Daily profiles Stockpile.
  • American Banker names SigFig as leader in robo-advisory revolution.

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.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • Markit Agrees to Acquire Prism Valuation.
  • Goldman Sachs Leads $44 Million Investment in Plaid.
  • Mambu Unveils FinTech Startup Program.

The latest from FinDEVr New York 2016 presenters

  • Personal Capital Brings on Former Yodlee CFO.
  • FICO acquires cybersecurity firm QuadMetrics, announces plans for “enterprise security scores.”

Alumni updates

  • Let’s Talk Payments asks if fintech startups should be able to access bank data in the wake of Plaid’s $44 million Series B.
  • MX Adds Cash Flow Feature to MoneyDesktop Platform.
  • Trulioo expands to South America as part of Canada’s Fintech Mission to Brazil.
  • Thomson Reuters named 2016 European Tax Technology Firm of the Year by International Tax Review.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)

Our FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • “OakNorth, “The First Cloud-Based Bank in the U.K.” is Powered by Mambu”
  • “Mobeam Barcode Beaming Technology Gains Broader Integration with Samsung Pay”
  • “Up from Down Under: VIX Verify Chooses Atlanta’s Transaction Alley for Americas Headquarters”
  • “Speed of Lightning, Roar of Thunder: Blockchain Unveils Off-Chain Bitcoin Payments Network”

The latest from FinDEVr New York 2016 presenters

  • Version 6.0 of PayPal app discontinues support for Amazon Fire, Windows, and Blackberry phones.

Alumni updates

  • “Twilio Readies for $100 Million IPO”
  • Let’s Talk Payments takes a look at the post-acquisition relationship between Envestnet and Yodlee.
  • Neyber selects Cloud Lending Solutions for loan automation.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • “Actiance Brings on Naresh Bansal as New CFO”
  • “Twilio Readies for $100 Million IPO”
  • “PayNearMe Acquires Prism Money to Offer Bill Presentment for Enterprise Clients”
  • “Featurespace Falls on a Fresh $9 Million in Funding”

On FinDEVr

  • “OakNorth, ‘The First Cloud-Based Bank in the U.K.’ is Powered by Mambu”

Around the web

  • Dataconomy interviews Georg Ludviksson, Meniga CEO and co-founder.
  • The WSJ: “Lending Club Talking With Citigroup About Loan Purchases”
  • Cachet Financial Solutions to power Mobile Deposit for LCNB National Bank.
  • American Banker highlights Suresh Ramamurthi, chairman and CTO of CBW Bank.
  • eToro appoints Joe Hall as its new managing director of business in the U.K.
  • Let’s Talk Payments takes a look at the post-acquisition relationship between Envestnet and Yodlee.
  • Ethoca teams up with the Online Payment Exchange (ONPEX) to stop ecommerce fraud using early warning alerts.

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.

Check Out Who Took Home Top Honors at Last Night’s European Fintech Awards

Check Out Who Took Home Top Honors at Last Night’s European Fintech Awards
GroupPhoto(Photo credit: http://www.fintech.nl/)

Last night in Amsterdam the 2016 European Fintech Awards celebrated innovators shaping the future of finance. A total of nine awards were presented to companies selected by a panel of judges for the quality of their pitch.

Four of the winners are Finovate and FinDEVr alums, including BehavioSec, who won the overall award of Best European Fintech Company of 2016:

BehavioSec
Category: Risk, Intelligence, and Security
HQ: Stockholm, Sweden
Founded: 2009
FinovateFall 2015 demo
FinDEVr San Francisco 2015 presentation

Backbase
Category: Innovative Banking Software
HQ: The Netherlands
Founded: 2003
FinovateEurope 2016 demo

Kreditech
Category: Financial Inclusion
HQ: Hamburg, Germany
Founded: 2012
FinovateSpring 2014 demo

Xpenditure
Category: Best of Show, selected for the best pitch
HQ: Mechelen, Belgium
Founded: 2011
FinovateEurope 2016 demo

A total of 29 Finovate and FinDEVr alums were recognized in the European Fintech Top 100 list. Companies awarded on this list were selected by a combination of online public votes (weighted 25%) and a panel of judges (weighted 75%).

  • AdviceGames
  • Kantox
  • Aire.io
  • Klarna
  • AMP Credit Technologies
  • Kontomatik
  • Azimo
  • Kreditech
  • Backbase
  • Mambu
  • BehavioSec
  • mBank
  • Cloud Lending Solutions
  • Meniga
  • ebankIT
  • Nutmeg
  • eToro
  • Qumram
  • ETRONIKA
  • Scalable Capital
  • eWise
  • SmartEngine
  • Fenergo
  • TransferWise
  • Holvi
  • Trustly
  • IdeaBank
  • Zopa
  • InvoiceSharing

The European Fintech Awards are organized by Amsterdam-based publishing company Alex van Groningen BV. The company offers a great explanation of the awards: “The purpose of the FinTech awards is not to scientifically prove who are the best FinTech companies. The judging is primarily based on the judges’ individual ideas and views on the nominating companies using their expertise, knowledge and ideas.”

Finovate Alums Dominate The FinTech50’s Inaugural Hall of Fame

Finovate Alums Dominate The FinTech50’s Inaugural Hall of Fame

Fintech50_homepage_April2016

FinTechCity unveiled its new FinTech50 Hall of Fame this week at the Money 20/20 event in Copenhagen, Denmark. Finovate alums took six out of the ten spots.

The “founding ten members” of TheFinTech50 Hall of Fame are companies that “have featured on our radar since the days when they could reasonably be called startups,” say FinTech50 founders Julie Lake and Nicky Cotter, writing in The FinTech50 2016 Yearbook. “In recognition of their pioneering spirit and competitive staying power, we felt they deserved their own special place within a list of remarkable game-changers,” the founders wrote.

FinTechCity also presented The FinTech50 2016, its roster of the fifty hottest FinTech businesses in Europe. Of the 50 companies selected by the panel of more than 30 industry experts who poured over more than 1,200 candidates, a full baker’s dozen were Finovate—or FinDEVr—alums.

Read the full list.

Lake and Cotter called this year’s competition “the most hotly contested FinTech50 in its four-year history.” The founders also highlighted differences from the 2015 list, with this year’s roster featuring more companies innovating in “security, compliance, and risk.”

Also noteworthy was the number of European fintech companies from the United Kingdom (more than 30 out of the 50). The founders credited this to the U.K.’s broader access to funding, as well as the region’s local talent, and “favorable regulatory environment.” Lake and Cotter also praised other emerging European fintech communities in Amsterdam, Berlin, and Stockholm.

In addition to The FinTech50 2016 and its new Hall of Fame, FinTechCity also announced its FinTech20 India and FinTech20 Hong Kong. Finovate alums were represented here with Demystdata (FinovateAsia 2012) earning a spot in the Hong Kong 20, and Bank Bazaar (FinovateAsia 2012) getting recognition in the India 20. Lastly, The FinTech50 shared “The Hot Ten,” a roster of companies on their watch list for 2016. Here, Finovate alum, Ormsby Street (FinovateFall 2015), was recognized on that list.

FinDEVr APIntelligence

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today.

Developer news

  • Emirates NBD Group and the Open Bank Project launch a global competition for fintech startups.

The latest from upcoming FinDEVr New York 2015 presenters:a

  • Markit to deploy smart automation technology from WorkFusion.
  • Nerdwallet profiles robo-advisor Betterment.

Alumni updates

  • Spreedly secures $3 million financing round.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Mambu Pulls in $8.7 Million to Replace Core Banking

Mambu Pulls in $8.7 Million to Replace Core Banking

MambuHomepage

Mambu, creator of a cloud-based SaaS banking platform, raised $8.7 million (€8 million) this week. Combined with the $1.5 million the company picked up in February 2013, its funding now tops $10.6 million.

The round was led by Acton Capital Partners and CommerzVentures; existing investors also contributed.

Mambu CEO Eugene Danilkis speaks to the purpose of the new investment:

We are building out the product and onboarding customers in multiple geographies. We are excited that this new capital will allow us to deploy faster, and to better support our global client base as we continue to enable the next generation of banking service providers.

In more specific terms, Mambu plans to use the funds to:

  • Expand its commercial team
  • Increase investment into the platform
  • Open additional offices to support growth in Asia and the Americas

The Berlin-based company showcased its core banking application at FinovateAsia 2013, highlighting its holistic approach that helps banks of any size create and service loan and deposit products. Founded in 2011, Mambu seeks to replace core banking by offering faster access to technology at a lower cost.

Over the past year, Mambu has added 30+ new customers and has added support for P2P and SME lending methods.

Finovate Alumni News

On Finovate.com

  • Mobino Inks Partnership with Paymint”

Around the web

  • JPMorgan announces partnership with OnDeck Capital.
  • Nigeria-based consumer-finance firm, RenMoney, to deploy cloud banking solution from Mambu.
  • Green Dot plans to launch new loan marketplace in 2016.
  • Freedom CU ($673m) chooses core processing technology from Jack Henry & Associates’ Symitar.
  • Smarter Analyst features Tradier, QuantConnect, TipRanks, and Quantopian.

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

  • Finovate debuts: “LiquidLandscape’s Visualization Solves Scattered Data”
  • “FinDEVr Launches in New York, March 2016″
  • “OnDeck adds new small business lending options”

Around the web

  • The Financial Brand: Beyond the Arc’s Steven Ramirez considers three fintech trends from Finovate alums.
  • Nasdaq acquires SecondMarket to help startups sell shares.
  • Motif Investing partners with J.P. Morgan to offer investors fractional IPO shares.
  • ING and Kabbage partner to bring platform lending to Europe’s small businesses.
  • PayItSimple USA changes its name to Splitit.
  • Encap Security announces formation of new advisory board.
  • Algomi wins “Most Innovative Trading Product/Service” category at the Financial News Awards in Trading & Technology for the second consecutive year.
  • OakNorth Bank chooses Mambu as its banking technology partner.
  • Feedzai introduces data science studio for fraud prevention.

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.

Reparo Loves Mambu: Partnership Brings New Loan Options to UK SMEs

Reparo Loves Mambu: Partnership Brings New Loan Options to UK SMEs

Mambu_homepage_July2015

Cloud banking innovator Mambu has been selected by Reparo Finance, an SME business-financing company, to provide a new line of business loans for small to medium companies in the United Kingdom.

Andrew Ward, managing director of Reparo Finance, pointed to the ability to provide financing to “neglected yet viable U.K.-based businesses.” Ward said that “partnering with Mambu has allowed our company to quickly bring more sophisticated loan offerings to market, while offering the necessary expertise and scalability to meet growing customer demand.”

Eugene Danilkis, Mambu CEO, added that his company’s technology would help make it easier for Reparo to develop “new and more accessible loan offerings” to market to the historically underserved small businesses.

Mambu_stage_FA2013

From left: Mambu founder and CEO Eugene Danilkis, and David Hamilton, advisory board member, presented at FinovateAsia 2013 in Singapore.

Mambu has had a busy 2015. The company announced earlier this month that Ferratum Group selected its technology to power SME lending, and in June added a variety of new features such as multi-account credit arrangements, balloon payments for real estate and auto lending, asset-backed lending, and more. Mambu began the year being named to FinTechCity’s FinTech 50.

Reparo Finance provides SME financing options such as asset-secured loans, that range from 50,000 pounds to 1 million. Terms range from one to 24 months and a lending decision takes only two business days. The company plans to use Mambu to provide greater flexibility when it comes to payment schedules. Reparo was founded in 2014 and is headquartered in Manchester, United Kingdom.

Founded in December 2011 and headquartered in Berlin, Germany, Mambu made its Finovate debut at FinovateAsia 2013 in Singapore.

Finovate Alumni News

On Finovate.com

  • “The Next FinTech Unicorn? Rumored $150 Million Heading to Kabbage
  • “Reparo Loves Mambu: Partnership Brings New Loan Options to UK SMEs”

Around the web

  • Datamonitor looks at how “wealth giants” are responding to the challenge of robo-advisors like Betterment.
  • Atom Bank chooses front-office technology from Intelligent Enviornments and back-office technology from FIS.
  • Fujitsu’s PalmSecure biometric technology comes to Fiserv’s DNA account-processing platform.
  • e27 reviews technologies like LoopPay and the prospects for digital wallet use in Asia.
  • Brian Armstrong, Coinbase CEO, says bitcoin will be the world’s reserve currency within 15 years.
  • The Telegraph highlights Zopa in its look at the safety of peer-to-peer lending.
  • Kony launches the latest version of its mobile backend-as-a-service (MBaaS) solution, Kony MobileFabric 6.5.
  • Fox Business News interviews Realty Mogul founder and CEO Jilliene Helman.
  • itBit hosts Bankchain Discover Summit for financial industry professionals.

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.