Finovate Alumni News

On Finovate.com

  • Signifyd Partners with Corra to Provide Guaranteed Fraud Protection for E-Commerce Merchants.

Around the web

  • Estonian financial group LHV to leverage technology from FICO to fight money laundering.
  • Klarna announces double-digit sales growth thanks to more retailers using the company’s solutions.
  • CNBC quotes MaxMyInterest head of business development and partnerships Michael Halloran on cash strategies for investors during times of market volatility.
  • Dynamics unveils enhanced functionality for its connected Wallet Card. See its latest demo at FinovateEurope next week.
  • TSYS Extends Existing Agreement with Capital One UK.
  • Mastercard to use Facebook Messenger to help small businesses in Africa and Asia drive mobile and electronic payments acceptance.
  • Worldline teams with Total to launch TOTAL eWallet.
  • FutureTech Podcast hosts Capitalise CEO Shahar Rabin on using natural language to automate trading strategies.
  • NopSec Awarded Most Innovative Cybersecurity Company 2018.

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.

Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership

Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership

Cloud-based payments platform Dream Payments is teaming up with Mastercard this week. The two payments players will leverage Mastercard Send to help insurance policyholders receive payments faster into any account.

Mastercard Send, a global push payments platform, facilitates local and cross-border money delivery in near real-time. Integrating with the Dream Payments Hub will create a scalable way to digitize and automate the disbursement of insurance claims. By removing the need to sort and mail physical checks, the integration ultimately increases the speed and efficiency of digital payouts into the customer’s preferred debit card account.

Piloting this is Northbridge Financial, which will be the first insurance provider in Canada to use the Mastercard Send platform through the Dream Payments Hub. “Our claims experience is the moment of truth when it comes to the promise we make to our customers,” said George Halkiotis, EVP of Claims for Northbridge Financial. “We know that waiting for and depositing checks are key pain points and we’re excited be able to deliver a better, faster claims experience that helps make things right for our customers as quickly as possible.”

“Mastercard and Dream Payments are helping to digitize payments for insurance providers of all sizes,” added Brent Ho-Young, chief executive officer, Dream Payments. “Insurance customers deserve to receive their claims payments quickly, electronically, and into the financial accounts of their choice, whether it be a bank account, debit card, prepaid card, or mobile wallet.”

With operations in Stamford, Connecticut, Dream Payments helps small businesses accept all payment types. In addition to ties with Quickbooks and First Data, the company also counts TD Merchant Solutions and Chase Paymentech in its partnership ecosystem. At FinovateSpring 2015, Dream Payments debuted its mobile POS device. Dream Payments was founded in 2014 and has raised $14.9 million. Brent Ho-Young is CEO.

Founded in 1966, Mastercard demoed its Cash Pick-Up ATM solution at FinovateFall 2017. Cash Pick-Up allows the sender to disburse cash to banked and unbanked consumers without a card at an ATM. Last fall, the company announced it has tested and validated its blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. At FinovateEurope next week, Mastercard, alongside Vipera, will demo SME-Pay, a solution that enables small business owners to make and receive payments anywhere and view and control staff spending on their Mastercard cards.

Finovate Alumni News

On Finovate.com

  • Dream Payments Speeds Up Insurance Payouts with Mastercard Partnership.

Around the web

  • NCR Launches Omni-Commerce Payment Solution for European Retailers and Restaurants.
  • InComm Partners with Kapsch TrafficCom on RiverLink.
  • Sberbank hires robot Anna to answer calls about location of ATMs and Sberbank offices.
  • Baker Hill releases the latest developments for Baker Hill NextGen.

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.

FinovateEurope Sneak Peek: Vipera & Mastercard

FinovateEurope Sneak Peek: Vipera & Mastercard

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

Vipera and Mastercard have come together to create SME-Pay, a solution that enables small business owners to make and receive payments anywhere and view and control staff spending on their Mastercard cards.

Features

  • Get paid with the mobile point of sale
  • Control how staff use business cards: online, in-store or ATM. Set different permission profiles for teams.
  • Attach receipts and export transactions for expense management

Why it’s great
SME-Pay from Vipera and Mastercard is a mobile payment solution that helps small business owners view, control and manage their income and expenditure, wherever they, or their staff, are.

Finovate Alumni News

On Finovate.com

  • TransferTo and Fern Software Receive Grant from UN Capital Development Fund
  • EyeLock Partners with ViaTouch to Bring Iris Authentication to Smart Shelf Vending
  • Betterment Celebrates the Season of Giving with New Share Donation Feature

Around the web

  • PPRO, Klarna team up for credit payment methods across Europe.
  • Mastercard plans its own blockchain.
  • GeoAwesomeness profiles San Francisco startup, MapD.

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.

Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

Image Designed by Freepik

Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

  • HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

 

Mastercard Takes Blockchain Mainstream with API

Mastercard Takes Blockchain Mainstream with API

Mastercard announced it has tested and validated its blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. The APIs include the Blockchain Core API, the Smart Contracts API, and the Fast Pay Network API.

Mastercard will pilot the blockchain for use in the business-to-business space, implementing it to increase speed and transparency in payments and decrease costs for cross-border payments. The blockchain solution aims to offer a new way for consumers, businesses, and banks to transact. The company describes it as the “key” to its strategy of providing payment solutions that “meet every need of financial institutions and their end-customers.”

Mastercard’s blockchain operates independently of a digital currency. As Justin Pinkham, a senior vice president at Mastercard Labs told Forbes, “We are not using a cryptocurrency, and we are not introducing a new cryptocurrency, because that introduces other challenges—regulatory, legal challenges. If you do a payment, then what we can do is move those funds in the way that we do today in fiat currency.”

The company lists four main differentiators of its blockchain:

  • Privacy — Mastercard ensures that transaction details are only shared among individuals who are a party to the transaction.
  • Flexibility — it can be used in combination with other Mastercard APIs; SDKs are available in six different languages.
  • Scalability — it is designed for commercial processing speeds.
  • Reach — it is integrated into Mastercard’s payment network, which includes 22,000 financial institutions.

“By combining Mastercard blockchain technology with our settlement network and associated network rules, we have created a solution that is safe, secure, auditable, and easy to scale,” said Ken Moore, executive vice president of Mastercard Labs. “When it comes to payments, we want to provide choice and flexibility to our partners where they are able to seamlessly use both our existing and new payment rails based on the needs and requirements of their customers.”

The company’s rival Visa has also began working with the blockchain. Last October, the company announced it had teamed up with Chain to launch a blockchain-based B2B payments service called Visa B2B Connect. Neither companies have made firm announcements regarding blockchain use cases for end consumers.

Founded in 1966, Mastercard demoed its Cash Pick-Up ATM solution at FinovateFall last month. Cash Pick-Up allows the sender to disburse cash to banked and unbanked consumers without a card at an ATM. In addition to today’s blockchain developments, the company has recently joined the Enterprise Ethereum Alliance to explore possible use cases for Ethereum.

Finovate Alumni News

On Finovate.com

  • Efigence Teams Up with Alior Bank, Telekom Romania to Help Launch Telekom Banking.
  • Mastercard Takes Blockchain Mainstream with API.
  • Zighra Launches Flagship Continuous Authentication Product.
  • Stash Reveals Plans to Launch Mobile-First Banking Service.

Around the web

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO
  • Azimo’s momentum continues with triple-digit growth.
  • Visa to offer ThreatMetrix technologies through its Visa ID Intelligence platform.
  • Lendio joins lending platform association.
  • Dream Payments unveils its point of sale solution for First Data’s Clover merchants.

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

  • TASCET Teams with Secured2 to Launch Algo5 Data Security Offering.
  • NYMBUS Launches Digital-First Banking Platform, NYMBUS SmartDigital.

Around the web

  • Mastercard and PayPal expand partnership to Canada, Europe, LatinAm, Caribbean, the Middle East and Africa.
  • Affirmative Technologies partners with TransCard to provide electronic payment processing for SMBs.
  • FICO introduces new payment card fraud detection models.
  • Arxan receives ISO 13485 certification.

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

  • Enabled by AI, Self-Service Is the Future of Banking

Around the web

  • eWise offers free access to Categorization-as-a-Service (CaaS) API.
  • Mastercard to introduce contactless payments in Myanmar courtesy of partnership with Co-Operative Limited Bank (CB Bank).
  • Michigan-based Marshall Community Credit Union hires Insuritas.
  • Tesobe announcing APIDays Berlin on 7 & 8 November
  • Pascal Gauthier nominated President of cryptocurrency & blockchain security company Ledger
  • Hyundai Capital America joins the AutoGravity car shopping and financing platform
  • Coinbase announces Ethereum & Litecoin vaults
  • Pirean’s Access: One wins Cloud Security Product of the Year at the 2017 Computing Cloud Excellence Awards.

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.

FinovateFall Sneak Peek: Mastercard

FinovateFall Sneak Peek: Mastercard

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Mastercard Cash Pick-Up allows banks and their disburser customers to deliver cash quickly, securely, and easily to any vetted consumer – banked and unbanked – through enabled ATMs, without a card.

Features

  • Available for use by banked and unbanked consumers
  • No card or smartphone is necessarily required
  • Leverages Mastercard’s global network of ATMs

Why it’s great
Getting cash to people can be expensive and inconvenient. This solution, delivered through banks, gives disbursers and recipients more choice in sending and receiving cash.

Presenters

Dan Goodman, SVP, ATM Product Management
Goodman focuses on building the ATM product line strategy, delivering compelling solutions for consumers and issuers, and growing profitability.
LinkedIn

 

Greg Barrett, VP, Product Development & Innovation for Global Credit and Debit
Barrett has over 20 years’ experience developing and managing technology products across various industries.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Bambu Wins Strategic Investment from Franklin Templeton.

Around the web

  • NBKC Taps Gro Solutions for Consumer Account Opening; Partners In Development of Business Account Opening Solution.
  • Pymnts: ShopKeep Enters Small Business Lending Market.
  • CSI globalVCard Partners with Mutual of Omaha Bank.
  • Mastercard partners with Garmin to offer customers a contactless payment watch.
  • American Banker looks at the partnership between D3 Banking and First Tennessee Bank.
  • Ping Identity to provide hub for UK Open Banking framework.
  • Braintree introduces support for Apple Pay and Android Pay in Australia.
  • MyChoiceTech reviews Eversafe, an anti-fraud solution geared toward seniors.

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.