Finovate Alumni News

On Finovate.com

  • CardFlight Aligns with Payscape to Expand Merchant Base.

Around the web

  • PaySimple announces latest payment integration with MarketSharp’s CRM software.
  • Equifax selects Experian to provide customers free credit monitoring through its TrustedID Premier service.
  • QuotePro and Fiserv partner to speed credit for cash payments at self-service kiosks.
  • Singapore-based WeInvest expands to UAE.
  • PYMNTS: OnDeck loan origination volume increased double digits YoY and sequentially, the volume up 22% from the 2017 third quarter
  • Mitek appoints Max Carnecchia as CEO.

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

Around the web

  • Reuters: Mitek rejects takeover offer from hedge fund Elliott Management Corp’s software company ASG Technologies.
  • NetGuardians makes the Chartis Risktech Quadrant for enterprise fraud technology 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.

Finovate Alumni News

On Finovate.com

  • Diebold Nixdorf Receives $650 Million Capital Commitment.
  • Mint Brings User Interface into 2018.
  • A Framework for Your 2019 Fintech Strategy.

Around the web

  • Mitek announces departure of CEO Jim DeBello.
  • The SaaS Report recognizes bpm’online CEO and managing partner, Katherine Kostereva, as one of its Top 50 SaaS CEOs of 2018.
  • ACI Worldwide integrates with tax filing technology firm, SPAN Enterprises.
  • Modo teams up with Etihad Airways to build loyalty solution for airline industry.
  • Vera welcomes Carlos Delatorre as CEO.
  • Temenos launches Temenos Learning Community Engine.

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

  • SocietyOne Appoints New CEO as it Nears $500 Million in Total Lending.
  • Dublin’s Leveris Picks Up Investment from Link Asset Services.

Around the web

  • Coinbase rebrands its crypto wallet Toshi as Coinbase Wallet; announces acquisition of Distributed Systems.
  • Experian unveils new integrated data and analytics platform, Ascend Analytics on Demand.
  • ID.me to provide its digital credentialing service to government agencies and healthcare organizations as a white label offering in 2019.
  • Kofax earns spot on the Constellation ShortList for Robotic Process Automation.
  • Biometric Update features Jumio, Mitek, and Onfido in a review of digital identity verification providers.
  • Breaking Banks highlights EverSafe in a conversation on how fintech is meeting the needs of an aging population.
  • Ad Exchanger: Cardlytics Says It Hopes To Expand Beyond Bank-Owned Media.

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.

Mitek Helps Bring Mobile Deposit to Credit Unions

In a bid to help credit unions better fight check fraud, mobile enterprise digital transaction management solutions provider eDOC Innovations is leveraging technology from Mitek. eDOC will add Mitek’s Mobile Deposit technology and its advanced risk mitigation features to its eDOC Mobile RDC.

eDOC Innovations COO Mark Fierro credited the growth of the company’s RDC processing business and innovations in check imaging technology for the decision to work with Mitek. Fierro also hinted at near-term dividends of the new partnership. “In the coming months, we will be releasing new features that will help credit unions mitigate risk of check fraud with restrictive endorsement detection and support for Harland Clarke PhotoSafe Checks,” Fierro said.

Serving credit unions for more than 25 years, eDOC Innovations provides a range of solutions to support mobile e-signature processing, digital asset lifecycle management, intelligent and interactive form automation, as well as mobile RDC and electronic statements. The company noted that credit union demand for mobile deposit capabilities in their banking apps had “nearly tripled” over the past year alone.

This would come as no surprise to Michael Diamond, GM and SVP for Payments at Mitek, who said, “Mobile Deposit is the feature that has helped grow mobile banking into the industry it is today, and we continue to drive innovation for both financial institutions and consumers.” Diamond praised eDOC Innovations as a company with a track record of “bringing powerful new technology to credit unions.”

Founded in 1985, Mitek demonstrated its Mobile Verify solution at FinovateFall 2017. Mobile Verify provides worldwide, omnichannel identity verification, making it easy for FIs to onboard foreign customers as readily as local customers. The technology features algorithm-based checks on thousands of global ID documents, and is able to detect security features installed on them. With use cases ranging from account opening and loan origination to payments and card-not-present transactions, Mitek’s Mobile Verify can be integrated into mobile apps, websites, and desktop solutions.

Last month, cryptocurrency trading platform DXE announced that it would use Mobile Verify for automated ID verification. In June, Mitek teamed up with fellow Finovate alum Signicat to build a solution to help European-based financial services improve their onboarding technologies while remaining compliant with new regulations. Also in June, Mitek added identity document verification and biometric facial recognition technology to its platform thanks to an agreement with Experian, also a Finovate alum.

Mitek’s technology is embedded into the apps of more than 6,100 institutions and is used by more than 80 million consumers. Traded on the Nasdaq under the ticker, MITK, Mitek has a market capitalization of $294 million. The company is headquartered in San Diego, California. Mitek’s Sarah Clarke, SVP for Global Product Development, was named to One World Identity’s Top 100 Influencers list in February.

Finovate Alumni News

On Finovate.com

  • Zopa Raises More than $57 Million to Support Next Generation Bank.
  • Mitek Helps Bring Mobile Deposit to Credit Unions.
  • Crypterium Releases Crypto-Fiat Solution.

Around the web

  • Sberbank Group CTO David Rafalovsky selected to lead Sberbank’s Technology Block.
  • BlueRush announces new Chief Financial Officer, Dave Badun.
  • Thomson Reuters adds Dealerweb and Icap pricing to its Reuters Capital Markets 19901 service.
  • MEDICI features Ayasdi, Feedzai, FixNix, IdentityMind Global, BehavioSec, and identitii in its roster of top RegTech startups.
  • Bankjoy to power mobile and online banking for Marshland Federal Credit Union.

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

  • Paysend Seals Deal on $20 Million Financing.
  • ezbob Lands Undisclosed Investment from Honeycomb Investment Trust.
  • New Investment Takes ThetaRay’s Total Capital to More than $60 Million.

Around the web

  • Cryptocurrency trading platform DXE chooses Mobile Verify from Mitek for automated ID verification.
  • Delano.lu profiles developer platform Hydrogen, recognized last month as the 2018 fintech startup of the year by KPMG Luxembourg and Luxembourg House of Financial Technology.
  • Benzinga interviews Unison CEO Thomas Sponholtz in the wake of the company’s $40 million Series B round.
  • Hypepotamus features Cardlytics post-IPO, interviews CEO Scott Grimes.
  • Bluefin and NCR expand POS payment security to provide PCI-Validated Point-to-Point Encryption (P2PE).

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.

Signicat and Mitek Team Up to Improve Digital Onboarding

Identity assurance provider Signicat and digital identity verification company Mitek partnered to improve the onboarding experience for end customers while helping banks comply with new regulations.

The two teamed up to create a solution specifically for European-based financial services providers, who are facing a handful of new and ever-changing regulations, including PSD2, AMLD5, and eIDAS. The new tool, available in Signicat’s Digital Identity Platform, integrates Mitek’s Mobile Verify solution to authenticate identity documents presented during a remote, mobile onboarding process. To comply with AML and KYC regulations, Mitek’s Mobile Verify captures an image of the identity document to ensure its authenticity.

“Partnering with Mitek enables us to jointly offer European financial services institutions a customer on-boarding solution that is 100% online,” said Gunnar Nordseth, CEO at Signicat. “The partnership is designed to remove friction from the customer on-boarding process to ensure financial institutions can effectively compete in the marketplace.”

Nordseth also noted that Signicat clients can now simultaneously benefit from Mitek’s Mobile Verify solution, as well as Signicat’s secure authentication, electronic signing, and sealed document archival. Signicat also offers an eID hub, which consists of a wide variety of third party eID providers covering regions all over the world.

Founded in 2007, Signicat demoed Signicat Assure and Signicat Sign at FinovateEurope 2017. Assure combines national e-identities, commercial e-identities, and multiple other methods that offer a fast way to verify the customer’s identity for onboarding. Sign is a digital signature solution that ensures the origin and integrity of the document while maintaining non-repudiation from the sender. In January of this year, the company closed a $2 million funding round, bringing its total financing to $3.9 million.

Mitek is publicly traded on NASDAQ under the ticker “MITK” with a market cap of $307 million. Mitek was founded in 1985 and is headquartered in San Diego, California. The company most recently demoed its MobileVerify solution at FinovateFall 2017. Last month, Mitek acquired artificial intelligence and image analysis company A2iA for $49.7 million.

Finovate Alumni News

On Finovate.com

  • Signicat and Mitek Team Up to Improve Digital Onboarding.
  • Meniga Scoops Up $3.6 Million in New Funding Courtesy of UniCredit Investment.
  • OutSystems’ $360 Million Funding Round Boosts Valuation Above $1 Billion.
  • Credit Karma Hires Colleen McCreary as First Chief People Officer.

Around the web

  • Oman’s Bank Sohar to deploy core banking platform from Infosys Finacle.
  • IdentityMind Global announces update of its trusted digital identities platform.
  • Revolut CEO Nikolay Storonsky tells Reuters his company will seek a banking license in the U.S.
  • i-Sight to deploy ACI Worldwide’s Case Management solution to fight bank fraud.
  • D3 Banking Technology unveils new account opening service.
  • collectAI improves Hanseatic Bank’s receivables management with a 24 percent higher collection rate.
  • SMArtX adds 18 new strategies.
  • Kony unveils new digital banking solution – Kony DBX
  • Edwards Federal Credit Union signs with Bankjoy to enhance home and mobile banking functionality.
  • Two of the top 5 US banks (and three of the Top 10) are now using Socure’s ID+ 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.

Finovate Alumni News

On Finovate.com

  • Personetics Accommodates Digital-Only and Challenger Banks.
  • Diebold Nixdorf Brings its Bank-Like Kiosk to Emirates NBD Customers.
  • Munnypot Announces Strategic Partnership with Capita.
  • Switch Speeds Virtual Card Adoption with CardSavr API.

Around the web

  • aixigo wins top honors in the Outstanding Front-End Digital Solutions Provider (Vendor) category of the Private Banking Conference & Awards in Germany for its wealth management platform.
  • Trunomi announces partnership with blockchain-based digital ID solution, Shyft.
  • Mambu and Form3 team up to launch cloud-based payments processing service.
  • Fiserv collaborates with Rippleshot to provide early breach detection solution, Card Risk Office Fraud Warning.
  • Mitek adds identity document verification and biometric facial recognition technology to its platform courtesy of a new agreement with Experian.
  • Earnix introduces AcceleRate-it with Direct Deploy technology.
  • Trulioo wins Startup Canada’s Global Entrepreneurship Award.

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.