Finovate Alumni News

Around the web

  • Meniga opens new office in Singapore.
  • nCino announces expansion to Canada, opens doors on new Toronto, Ontario office.
  • Avaloq acquires structured products and derivatives data provider Derivative Partners.
  • Singapore’s Fintech News features aixigo, Nutmeg, and nextmarkets in its look at top European wealthtech solutions “that Singaporean banks should know.”
  • Anorak teams up with protection and mortgage advice company Albany Park.
  • NDGIT announces new strategic customer in Portuguese challenger bank, Banco BNI Europa.
  • The ID Co. joins North American division of the Financial Data & Technology Association (FDATA).

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.

nCino to Power Digital Banking for South State Bank

Cloud banking provider nCino announced today it will power a digital banking experience for South State Bank’s commercial banking customers.

The South Carolina-based bank will leverage the nCino Bank Operating System to improve its operations and provide a digital, omni-channel solution for its 700,000 customers across the Carolinas, Georgia, and Virginia. Specifically, South State hopes to improve its CRM technology, customer onboarding, account opening, workflow, credit analysis, enterprise content management, and instant reporting capabilities.

“It’s important to us to offer the right combination of high-touch personalized banking expertise and high-tech capabilities,” said President of South State Bank Greg Lapointe. “We’re committed to delivering exceptional service and believe nCino’s market-leading platform will provide our staff with the right tools and digital infrastructure to quickly and efficiently serve customers’ evolving needs.”

nCino demonstrated its Bank Operating System at FinovateEurope 2017. The North Carolina-based company offers a holistic platform that integrates the bank’s core system, as well as third party applications, while replacing dated solutions and manual processes.

The company has more than 200 clients from credit unions to banks with more than $10 billion in assets under management. Some of the company’s customers include Navy Federal Credit Union, SunTrust, Santander, and Regions.

So far in 2019, nCino has sparked a partnership with Accenture and landed clients from across the globe, including Sydney-based Thinktank, Stockholm-based DBT Företagslån, U.K.-based Project BankNorth, and Belgium-based Centrale Kredietverlening bank.

Since it was founded in 2012, nCino has raised $133 million in funding from the likes of Salesforce Ventures and Insight Venture Partners. Pierre Naudé is CEO.

Finovate Alumni News

On Finovate.com

  • OurCrowd’s New Partnership Promotes Startup Investment in Europe.
  • Five Degrees Teams Up with Bankingblocks.
  • nCino to Power Digital Banking for South State Bank.
  • Digital Banking Platform Alkami Lands New $55 Million Investment.

Around the web

  • Voleo to participate in Google’s Digital Strategy program to boost user acquisition on its social trading application.

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

  • Simple’s Payments Go Analog with Paper Checks.
  • Fenergo Supports Bahrain’s Blockchain-Based KYC.
  • Flywire Offers Chinese Students and Patients Discounted FX Rates.
  • doxo and Plaid Team Up to Bring Overdraft Protection to Billpay.

Around the web

  • ACI extends partnership with Vocalink into Saudi Arabia to facilitate the adoption of real-time payments through ACI’s UP Real-Time Payments solution.
  • First National Bank selects ProfitStars’ Commercial Lending Center Suite.
  • Centrale Kredietverlening selects nCino for its Bank Operating System.
  • Wipro develops blockchain-based solution with R3 to power digital currency transactions for Thailand banks.
  • Klarna and Stripe partner to offer Klarna’s Pay in 3 to Hideout festivalgoers through ticketing platform Kaboodle.
  • Forbes highlights BioCatch’s behavioral biometrics fraud prevention technology.
  • Insuritas and Tower Hill Specialty partner to bring Tower Hill’s property products to market through Insuritas’ bank partner network.
  • NIIT Technologies partners with Blue Chip to bring its wealth management application to Blue Chip’s IBM POWER.

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.

Project BankNorth Partners with nCino Ahead of 2020 Launch

Project BankNorth, a U.K.-based SME lender, has teamed up with nCino, and will leverage the fintech’s Bank Operating System to better serve the financing needs of small businesses when it goes live in 2020.

nCino International Managing Director Pullen Daniel praised BankNorth as an “up-and-coming challenger.” He said, “The BankNorth team is extremely experienced and well-regarded, and were able to identify a gap in the SME market upon which to build their unique offering.”

Customer experience was at the heart of BankNorth’s decision to partner with nCino. Founder and CEO Jonathan Thompson underscored the value of working with nCino at the early stages. “It’s critical we provide a smooth and intuitive interface for our customers and introducers in order to deliver a fantastic customer experience,” Thompson said. “Working with nCino early on in our development allows us to tailor our whole business around delivering an engaging and differentiated customer experience.”

BankNorth is backed by veterans of Atom Bank, HSBC, First Direct, Santander, and RBS, and represents a blend of both traditional and challenger banking worlds. At the beginning of the year, the company announced four new senior hires, including a chief technology officer. Backing BankNorth are GrowthFunders and G.Ventures, the trading arms of Growth Capital Ventures. The challenger has yet to secure a banking license.

nCino demonstrated its Bank Operating System at FinovateEurope 2017. The cloud-based technology combines customer onboarding, CRM, account opening, loan origination, workflow, credit analysis, ECM, and instant reporting, to help banks drive revenue and leverage analytics to better serve their customers.

Earlier this month, nCino announced that Swedish SME lender DBT Företagslån and Australian commercial property lender Thinktank are leveraging nCino’s Bank Operating System to automate workflows and enhance customer journeys. In February, the company and partner Accenture said they would broaden the scope of their alliance to reach FIs in the Asia-Pacific and EMEA regions.

Founded in 2012, nCino has raised $133.2 million in funding. The company includes Salesforce Ventures and Insight Venture Partners among its investors.

nCino Lands New Customers from Stockholm to Sydney

Swedish SME lender DBT Företagslån is the latest fintech to team up with cloud banking leader nCino. The Stockholm-based company  will leverage nCino’s Bank Operating System to automate and digitize its own workflows, as well as enhance its customer journey.

DBT Företagslån CEO Alexis Kopylov underscored the importance of the latter in a statement announcing the partnership. “For DBT, all digital investments are made with the single focus on strengthening the customer journey. The nCino platform is an important enabler for this ambition.” Kopylov credited nCino’s experience in both banking and in working with innovative fintechs, which he said would help his firm “challenge the status quo.”

“nCino was the only system that we evaluated that did not feel like a cumbersome tool, but a solution that will strengthen the customer experience and enable further scalability of our operations,” Kopylov said.

The partnership announcement highlighted a handful of features of the Bank Operating System, including the Customer Portal and the nCino Community. The portal enables customers to interact with staff members via the channel of their choice. The nCino community provides an online ecosystem where users, developers, and analysts can access exclusive content, as well as discuss and share best practices.

Sweden is not the only country where nCino’s technology is being deployed this week. Australian commercial property lender Thinktank announced today that it has implemented nCino’s Bank Operating System to automate and digitize its own internal processes.

Thinktank CEO Jonathan Street, praised nCino’s background and experience in the banking sector, and the fact that the company “shared (Thinktank’s) financial services DNA.” This is important, Street explained, insofar as commercial property lending has unique features that differentiate it from most lending systems. The technology’s seamless integration with Salesforce was another strong point for Thinktank, he added, enabling the firm to be more efficient and have better control over its data.

Headquartered in Wilmington, North Carolina, and founded in 2012, nCino demonstrated its Bank Operating System at FinovateEurope 2017. With average clients experiencing reductions of 92% in servicing costs and increased account opening completion rates of 127%, nCino works with more than 200 FIs around the world, including Navy Federal Credit Union, the largest member-based credit union in the U.S.

nCino has raised $133.2 million in funding, and includes Salesforce Ventures and Insight Venture Partners among its investors.

Finovate Alumni News

On Finovate.com

  • nCino Lands New Customers from Stockholm to Sydney.
  • TurnKey Lender Locks in New Investment from OSK Ventures.
  • CREALOGIX Helps Launch Mobile Banking for Hampden & Co.

Around the web

  • Fiserv inks partnerships with HealthCare First Credit Union and Portland Local 8 Federal Credit Union.
  • Kontomatik earns license from Bank of Lithuania to operate as an AISP in 11 EU countries.
  • Palestine Islamic Bank to deploy Temenos Infinity and Temenos T24 systems as part of its digital transformation efforts.
  • ThetaRay and HackerOne named to Network World’s 10 Security Startups to Watch.
  • Retail finance technology provider Deko teams up with Featurespace to enhance security on its lending platform.
  • Onfido announces partnership with INTERPOL to help the international police organization better spot fraudulent IDs.
  • CAP Services chooses Baker Hill to support its lending initiatives for small businesses and low-income individuals.

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 Global: Vymo Launches in Vietnam; ZagTrader Helps FIs Go Crypto

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.

Middle East and Northern Africa

  • ZagTrader and BeQuant team Up to help institutions go crypto.
  • Temenos partners with Saudi Arabia’s Al Rajhi bank.
  • Emirates NBD to work with Intellect Design Arena for a planned digital transformation of its transaction banking platform.

Central and South Asia

  • BankBazaar announces partnership with Ujjivan Small Finance Bank for Personal Loans.
  • Victoria Commercial Bank Kenya goes live with corporate banking technology powered by i-exceed’s Appzillon.
  • Aurora interviews Bernhard Klemen, international partner with venture capital fund Sarmayacar on opportunities for venture financing for Pakistani fintech startups.

Latin America and the Caribbean

  • German challenger bank N26 announces plans to expand to Brazil.
  • BBVA Colombia looks at its role in helping promote fintech innovation in Peru. In Spanish.
  • FXCompared profiles Argentina-based PayPal rival, MercadoLibre.

Asia-Pacific

  • Leading Vietnam-based consumer finance firm, FE Credit, chooses Vymo’s AI-powered personal sales assistant.
  • Bambu and CredoLab earn spots on Fintech News Singapore’s 29 Hottest Fintechs in Singapore 2019 roster.
  • Accenture and nCino partner to better serve FIs in the Asia-Pacific and EMEA regions.

Sub-Saharan Africa

  • Tymebank goes live with core banking tech from Mambu.
  • Nigerian digital banking solution provider TeamApt raises $5.5 million in funding.
  • South Africa’s Standard Bank to launch private cloud-based distributed ledger platform for payments and settlement.

Central and Eastern Europe

  • Russia’s Tinkoff Bank joins the country’s Faster Payments System.
  • Ukraine finishes its pilot project, begun in December, in support of its national digital currency, the e-hryvnia.
  • UK-based Rimilia and Association of Credit for Central and Eastern Europe to promote adoption of AI-based technologies to automate AR in the CEE region.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • ZagTrader and BeQuant Team Up to Help Institutions Go Crypto.
  • Best of Show Winner Finn AI Partners with IDaaS Firm AuthO.

Around the web

  • Accenture and nCino partner to better serve FIs in the Asia-Pacific and EMEA regions.
  • Insuritas teams up with Iowa’s Peoples Bank ($332 million in assets) to launch bank-owned digital insurance agency.
  • NCR selects former FIS executive Douglas Brown as its new General Manager for Digital Banking in its Banking Business unit.
  • Payoneer launches expansion of its Capital Advance working capital offering for online merchants.
  • Fenergo introduces James Follette as new Global Head of Commercial and Retail Banking.

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

  • AI Foundry and Ellie Mae Leverage AI to Accelerate Lending.
  • Dwolla Helps Status Streamline Cash Rewards for Savings.
  • Live from London: Breaking Banks Power Hour Rocks FinovateEurope.

Around the web

  • Marketing Technology Insights interviews BlueRush CEO, Steve Taylor.
  • PaymentsSource features nCino, Jumio, MX, LendKey, Kasasa, Jack Henry & Associates, Alkami, Finicity, and Prosper Marketplace in its list of the Best Fintechs to Work For.
  • Fiserv joins Financial Data Exchange as a sustaining member.
  • Partnership with Mercury FX brings Ripple to the Middle East and Canada.
  • TurnKey Lender highlighted as a top auto loan origination platform by HCCResearch.
  • European CFD/FX firm Windsor Brokers goes live with iSignthisISXPay and Paydentity solutions.

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.