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.

Finovate Alumni News

On Finovate.com

  • CallVU Teams Up with Banca Transilvania to Boost Mobile Banking.
  • Finovate Global: Fintechs Merge and Rebrand in Vietnam; Tinkoff Launches New Voice Assistant Oleg.
  • Hi Oleg! Tinkoff Launches Virtual Assistant.

Around the web

  • Jscrambler introduces self-healing JavaScript to fight code tampering.
  • AlphaPoint sets up shop in Switzerland to access the growing market for tokenization in the country.
  • BlueRush announces that its Best of Show winning IndiVideo platform has topped $100,000 in committed monthly recurring revenue.
  • AiThority interviews founder and CEO of Arkose Labs, Kevin Gosschalk.
  • Global alternative asset manager EJF Capital joins the Artivest platform.
  • INTELid Digital ID blockchain platform integrates ValidSoft’s voice recognition technology.
  • Choosemycompany.com recognizes YSEOP on itsAtWork and HappyIndex.
  • Ayondo’s COO and CFO resign.
  • NDGIT receives Finance IT Innovation Award 2019.
  • Fenergo enters the Taiwanese market through a partnership with TUNG-I Information Services (TUNG-I).

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

  • Twisto Closes $15.7 Million Capital Raise.
  • FinovateSpring Best of Show Winners Announced.
  • Welcome to FinovateSpring’s Conference Day.

Around the web

  • ID.me launches discounts for new affinity groups: nurses, age segments, and alumni.
  • TechCrunch: SoFi launches Gig-focused ETF.
  • Ayondo inks deal to sell UK unit for £5.7m.
  • Cornèr and NDGIT partner to provide direct access to third-party service providers under PSD2 regulation.

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

  • FICO and Equifax Forge Strategic Partnership.

Around the web

  • Motive Partners closes investment in Finantix announced in December.
  • Since launching in the region last year, Plaid expands coverage in Canada, adding support for Desjardins, National Bank of Canada, President’s Choice, and Simplii.
  • NDGIT’s API platform enables UBS to deliver PSD2 APIs for TPPs.
  • Ledger partners with Hong Kong-licensed Legacy Trust to introduce institutional-grade custody solution to accelerate the flow of institutional money into digital assets.

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.

NDGIT Credits License Revenue, New Bank Clients for Growth

Helping banks and insurance companies thrive in the PSD2 and open banking era is the business of German digital banking solution provider, NDGIT. And according to NDGIT, business is booming.

The company announced today that it achieved a “quadrupling” of license revenues in 2018. This, along with adding 20 new bank customers, makes it one of Europe’s fastest growing B2B fintechs. “The increasing digitization of banks, driven by a change in customer behavior and the European PSD2 regulation, has been a tremendous growth driver for NDGIT,” company CEO and co-founder Oliver Dlugosch said.

In a statement, NDGIT cited three key areas of performance from 2018 that will provide momentum for the company in the new year: a 4x increase in license revenue, partnerships with more than 20 new bank customers, and international growth. The company has expanded to 50 employees in four countries (Germany, the U.K., Switzerland, and Poland), and plans to open offices in both France and Spain this year.

Left to right: Franziska Zangl (Business Development Manager) and Oliver Dlugosch (CEO and Co-Founder) demonstrating NDGIT’s PSD2-enabled Digital Loan Application at FinovateEurope 2019.

“Banks have realized that they have to change if they want to compete in the same ecosystem as new digital players,” Dlugosch added. “The NDGIT Open Banking platform has become an important technological enabler for those vying to stay ahead.”

NDGIT’s technology connects banks, insurers, and fintechs to digital ecosystems, enabling them to take advantage of open banking APIs and PSD2 solutions provided by a wide variety of digital partners. More than 30 banks use the company’s API Management Platform, which gives users greater control in managing both internal and external APIs. NDGIT also offers an API Marketplace to support developers who want to leverage “best of breed APIs” build apps faster.

Headquartered in Munich, Germany, and founded in 2016, NDGIT demonstrated its PSD2-enabled Digital Loan Application, powered by its API platform, at FinovateEurope earlier this year. In 2017, NDGIT implemented the first open banking solution in Switzerland. Last year, the company’s API Platform won the CEE Fintech Challenge. More recently, NDGIT announced that it was partnering with Banco BNI Europa to help the Portuguese challenger bank meet PSD2 regulations.

Finovate Alumni News

On Finovate.com

  • NDGIT Credits License Revenue, New Bank Clients for Growth.
  • ACI Worldwide Buys Speedway in $750 Million Deal.
  • Identity Verification Specialist Socure Raises $30 Million.
  • Finastra Brings its Total Payments Solution to Silvergate Bank.

Around the web

  • D3 Banking Technology joins Amazon Web Services (AWS) Partner Network (APN).
  • Tradeshift introduces new app integration from Transfermate Global Payments.
  • HackerOne opens official APAC headquarters in Singapore.
  • Healthcare information technology services provider Allscripts partners with ID.me.

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

  • HooYu Brings Verification Services to Alt Banking Startup Suits Me.
  • Mambu Takes its SaaS Core Banking Solution to Orange Bank in Spain.

Around the web

  • API platform provider for banking and insurance NDGIT signs Banco BNI as a strategic customer.
  • EU Startups features Nordigen in its look at the top 10 Latvian startups to look out for in 2019.
  • Qover, an insurtech startup from Belgium, opens a new office in France.

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.

 

 

German Banking Software Provider NDGIT Raises $4.7 Million in Series A Funding

Here’s a bit of funding news from a new Finovate alum that slipped beneath the radar earlier this year. Open banking and insurance platform NDGIT has raised $4.7 million (€4 million) in new funding. The investment comes courtesy of a Series A round led by Capnamic Ventures and featured participation from PROfounders and existing investors Dieter von Holtzbrinck Ventures and business angels. The funding takes NDGIT’s total capital to $5.8 million.

The Munchen, Germany-based fintech said the additional capital will be used to grow its team and further product development. NDGIT, which stands for “Next Digital Banking”, is the developer of the first API platform for both banking and insurance, and its technology helps banks leverage open banking APIs and PSD2-ready solutions to work and integrate with digital partners. NDGIT includes Swiss bank Hypothekarbank Lenzburg and Germany’s Bank fur Sozialwirtschaft among its bank, fintech, and insurance company clientele.

“In Capnamic we have gained a leading investor with experience in the FinTech and InsurTech sectors,” NDGIT founder and CEO Oliver Dlugosch said in a statement. “In light of the common PSD2 Directive and international Open Banking developments, the investment by PROfounders Capital provides further proof of NDGIT’s European market relevance. With the support of our partners we intend to accelerate our growth and keep on driving NDGIT’s development into a market-leading Open Banking platform in Europe.”

Founded in 2016, NDGIT made its Finovate debut earlier this year at FinovateEurope 2018 where the company demonstrated its Ecosystem Builder solution. Ecosystem Builder is based on NDGIT’s open banking platform and enables banks to build app stores to offer their fintech partner network to their clients. The solution gives FIs an engaging front end that provides an overview of all the apps available via the banking portal, an SSO connection to fintech partners, secure data integration with the bank’s systems, as well as analytics and reporting.

Finovate Alumni News

On Finovate.com

  • Avoka Unveils Springboard Deposit Account Opening Solution.
  • German Banking Software Provider NDGIT Raises $4.7 Million in Series A Round.

Around the web

  • Experian unveils MarketingConnect platform.
  • Tango Card partners with Alvin Healthcare.
  • PayNearMe allows LimeBike riders to pay in cash.
  • Finastra integrates Optimal Blue into its Fusion MortgagebotPOS solution.
  • bpm’online wins Company of the Year award from American Business Awards for third year in a row.
  • Horizn takes top honors at Digital Banking 2018 American Banker conference.
  • Latest version of Quest Diagnostics’ content management solution features Smart Capture technology from Ephesoft.

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.