Finovate Alums Prepare for Citi Tech for Integrity Challenge Finals

For the the next month or so, we’re calling a bunch of Finovate alums the “Awesome Eight”. Citi revealed the finalists for its Tech for Integrity Challenge (T41) Demo Days competition last week. And out of the more than 1,000 entries, eight of the 103 finalists are alumni of Finovate and/or FinDEVr conferences.

Speaking at the launch of the Tech for Integrity Challenge earlier this year, Citi global head of the public sector group in charge of corporate and investment banking, Julie Mocaco said, “By supporting open innovation and providing innovators with the tools they need to develop ideas, we hope to help solve some of the biggest challenges that the public sector faces.”

The Challenge encourages technology companies to develop solutions that “promote integrity, accountability, and transparency in the public sector.” Competition organizers crowd-sourced a set of “pain points” ranging from financial transactions and information security to analytics and financial crime to provide contest participants with potential “solution areas” in which to innovate. The 103 finalists are presenting their pilot-ready technologies at live demonstration events in Abu Dhabi, UAE; Dublin, Ireland; Mexico City, Mexico; Buenos Aires, Argentina; Singapore; and Hyderabad, India from mid-May through mid-June.

Here’s a look at the eight alums. Click on the company logo to visit their website.



DigiByte Holdings

  • Headquartered in Santa Monica, California
  • Founded in 2015
  • Raised $250,000 in funding
  • Jared Tate is President
  • Demoed at FinovateSpring 2016; Presented at FinDEVr 2016 New York



  • Headquartered in Sydney, Australia
  • Founded in 2014
  • Nick Armstrong is CEO and co-founder
  • Demoed at FinovateFall 2016






  • Headquartered in London, UK
  • Founded in 2011
  • Andrew Bud is CEO
  • Demoed at FinovateEurope 2017




  • Headquartered in Cupertino, California
  • Founded in 2012
  • Raised $20 million in funding
  • Subrah Iyar is CEO
  • Demoed at FinovateSpring 2017




Neener Analytics

  • Headquartered in San Jose, California
  • Founded in 2014
  • Jeff LoCastro is CEO and co-founder
  • Demoed at FinovateSpring 2017; Won Best of Show




  • Headquartered in Ranana, Israel
  • Founded in 1986
  • Publicly traded with market capitalization of $4.4 billion
  • Barak Eilam is CEO
  • Demoed at FinovateEurope 2015



  • Headquartered in San Francisco, California
  • Founded in 2016
  • Investors include Base Ventures, Mission and Market, NewGen Capital, Y Combinator
  • MacLane Wilkison is CEO
  • Presented at FinDEVr 2017 New York
  • Selected to present at FinDEVr 2017 London





  • Headquartered in Vancouver, British Columbia, Canada
  • Founded in 2011
  • Raised $23.3 million in funding
  • Stephen Ufford is CEO and founder
  • Demoed at FinovateFall 2016; Presented at FinDEVr 2014 Silicon Valley

See the full list.

Winners of the Citi Tech for Integrity Challenge will be announced in June. One or more finalist will receive a cash award as the Global T4I award recipient(s). The Demo Days events will also feature Audience, Peer’s Choice, Citi and Ally awards, as well. Partnering with Citi as strategic allies are companies including IBM, Microsoft, Facebook, Let’s Talk Payments, pwc, Clifford Chance, and Mastercard.

Finovate Alumni News


  • Coinbase Launches Open Source Ethereum Wallet to Promote Financial Inclusion.

Around the web

  • Expensify partners with TravelPerk to make business travel easier.
  • Bento for Business welcomes Lou Friedmann as Chief Revenue Officer.
  • Featurespace’s ARIC platform to power fraud prevention for GoHenry.
  • BBVA and Ripple complete blockchain cross-border money transfer pilot.
  •  Larky to power location-based perks platform for Sharetec’s CU clients.
  • Icon Solutions enhances Instant Payments Framework (IPF) to connect to The Clearing House for US Real-Time Payments.
  • Walletron helps Transactis grow its electronic billing and payments service, BillerIQ.
  • NICE Actimize unveils new, cloud-based, fraud analytics optimization technology, ActimizeWatch.
  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.
  • IBS Sales League recognizes Temenos as “number one best-selling digital and channels solution” worldwide.
  • Algomi teams up with OpenFin to deploy software updates faster.

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


  • Check out this week’s FinDEVr APIntelligence.
  • Robo Advisor Wealthfront Launches Line of Credit to Make Users More Liquid.
  • Our latest FinovateSpring Sneak Peeks are up! Meet Unison, Hedgeable AI Lab, AccountScore, SynapsePay, and HEDG.


  • Xero Sees $26.4 Million Investment

Around the web

  • Money management app, TD MySpend from TD Bank, closes in on one million users.
  • mBank launches mobile app with Android Pay.
  • ACI Worldwide broadens its relationship with Ant Financial Services mobile payment provider, Alipay.
  • PYMNTS reportsTransferWise To Move Headquarters Out Of UK Due To Brexit.
  • NICE Actimize Launches ActimizeWatch, a Fraud Analytics Optimization Solution.
  • Fiserv to power core processing for SouthEast bank.

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


  • LendUp Lands $100 Million Credit Facility.
  • LikeFolio Begins Licensing Brand-Mapping Database.
  • Euronext Invests $10 Million in Algomi; Expands Joint Venture Agreement.

Around the web

  • Yoyo hires former PayPal GM Simon Moran as first VP of Commercial.
  • Fiserv expands its Florida contact and servicing center by 22%.
  • Trustly partners with UATP to enable online bank payments for airfare.
  • NICE extends real-time authentication across all voice channels.
  • The Asian Review covers Ayondo’s upcoming listing on the Singapore Exchange.
  • Signifyd wins Finance Monthly’s 2017 Fintech Award for Fraud.

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


  • “Socure Raises $13 Million in New Capital”
  • “Investment from Rakuten Boosts Kreditech’s Total Capital More Than $10 Million”
  • “Personal Capital’s Growth Leads to Additional $25 Million in Funding”

Around the web

  • eToro forges strategic partnership with Lufax Holding, China’s largest internet financing company.
  • PayPal teams up with Citibank, FIS to expand cross-channel presence.
  • NICE Systems celebrates record year in customer acquisitions.
  • SocietyOne appoints Maria Loyez as chief marketing officer.
  • NuData Security partners with Arvato Financial Solutions to combat fraud and enable a smoother customer experience.
  • Quantopian hires Marc Volpe as chief financial officer.

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.

Finovate, FinDEVr Alums Earn AWS Financial Services Competency Status


Amazon Web Services has introduced a pair of new competencies as part of its AWS Competencies Program. The program is used by AWS to designate specific industry expertise or “competency” among its network partners. And this week we learned that one of these new competencies, AWS Financial Services, features more than a handful of Finovate/FinDEVr alums.

Earning spots in the Risk Management category of AWS Financial Services Competency Partners were FICO (FD16), FIS-Prophet (F16), and NICE Systems (F15). Four alums—Avoka (F16), Corezoid (F16), Mambu (F13), and Moven (F16)—made up more than half of the companies in the Core Systems category. IHS Markit (FD16) earned a place in the Data Management category along with two other alums, Infosys (F09) and Wipro (F15).

Avoka CMO Don Bergal credited the AWS Cloud for enabling the company to deliver solutions with the speed, security, and regulatory compliance needed to serve “the largest financial institutions worldwide.” Mambu CEO Eugene Danilkis called AWS “the future of agile, cost-effective infrastructure” for both fintech companies and FIs. Speaking for FICO, which made its FinDEVr debut in New York this spring, CTO Stuart Wells said his company will increase the amount of its risk management and compliance technology available via the cloud “powered by AWS.”

The AWS Competency Program is designed to help customers use Amazon Web Services by connecting with the company’s network partners in a variety of fields. For the Financial Services competency, these fields include banking and payments, capital markets, and insurance. Amazon Web Services made the new competency announcements at its re:Invent conference this week.

Finovate Alumni News


  • Polly Portfolio Launches Investment Chatbot for Facebook Messenger
  • Check out this week’s FinDEVr APIntelligence.
  • Zopa Taps Ronen Benchetrit for CTO
  • Sezzle Adds Former PayPal Executives as Advisers
  • Actiance Now Supports Compliance for Instagram

Around the web

  • Boku expands carrier billing service with new partnerships in Germany.
  • NCR and Wells Fargo partner to develop next-generation ATM technology.
  • Mizuho Financial Group to pilot Ripple for cross-border payments.
  • NICE Actimize teams up with Tableau Software to combine business intelligence with financial crime-compliance technology.
  • True Potential opens multi-asset portfolios to adviser market.
  • Lendio partners with Townsquare to promote its alternative small business financing solutions.
  • Misys relocates Texas office from Richardson to Plano to expand operations.
  • CardFlight reports that more than 64% of its merchants are now EMV-enabled, more than 3x the national average.

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.

NICE Unveils New Recording Technology for Skype for Business


Now your Skype for Business conversations can be recorded for quality assurance purposes, too.

NICE unveiled the new edition of its recording technology for Microsoft’s Skype for Business communications platform. Designed to help financial institutions meet increasingly challenging regulatory and compliance standards, NICE Skype for Business supports dynamic, selective recording that is customizable to specific compliance policies. In addition, the technology features advanced search and monitoring, automated capture and retention, and instant retrieval.


Left to right: Jade Kahn, marketing strategy manager; Elad Hoffman, director of sales, EMEA; and Audelia Boker, director of demand generation, EMEA, demoed NICE’s real-time authentication at FinovateEurope 2015.

Calling the new recording functionality a “natural extension” of the company’s commitment to helping financial markets meet compliance needs, NICE Executive Vice President Chris Wooten said, “More broadly, we expect Skype for Business to disrupt the enterprise-based unified-communications market across the board in coming years.” The new solution builds upon NICE’s six-year relationship with Skype for Business predecessor Microsoft Lync.

With more than 25,000 organizations in more than 150 countries using its technology, NICE counts more than 80 of the Fortune 100 among its customers. Founded in 1986 and headquartered in Raanana, Israel, NICE has made recent headlines as an enabler of smaller tech companies. NICE participated in the $3 million, Liberty Global Ventures-led investment in fellow Finovate alum, CallVU, in June, and acquired customer experience specialist, inContact, for $940 million in May. Also in May 2016, NICE announced that its automation technology was deployed to fight credit card fraud at Italian bank, Banca Popolare di Sondrio.

Finovate Alumni News


  • Jumio to Power KYC & AML Services for Krypto Commerce
  • NICE Unveils New Recording Technology for Skype for Business
  • Ripple Adds Multi-Sign Functionality to Consensus Ledger Technology

Around the web

  • New York Times DealBook looks at new payday options such as PayActiv.
  • ACI Worldwide taps Marco Bravo as VP for Latin America.
  • PYMNTS talks to Token CEO Steve Kirsh about how Token helps banks comply with the EU’s PSD2.
  • Clari5 Enterprise Fraud Management from CustomerXPs named Best Fraud Detection Product Award at Operational Risk Awards held by Operational Risk magazine and
  • David Foss officially appointed new CEO at Jack Henry.
  • ThreatMetrix sees 52% YOY revenue growth, now serves 17 top global FIs.

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


  • “Token Facilitates PSD2 Compliance with New Payment Network”
  • “CrowdFlower Closes on a $10 Million Round Led by Microsoft”
  • “Finovate Debuts: IBM’s Wealth Management Solution Gives Advisers an Edge”
  • “MOX Pay from Malauzai is First to Unveil RDC as Payment Option”

On FinDEVr

  • “Flybits Earns Gartner Cool Vendor Recognition in its Platform-as-a-Service 2016 Report”

Around the web

  • TechCrunch: Dashlane launches a password-management tool for the enterprise.
  • AppsTechNews chats with Kony CTO Bill Bodin on the pace of enterprise app change.
  • “Kabbage Named a CNBC Top Disruptor”
  • Benzinga profiles Betterment CEO Jon Stein.
  • Me/CU to deploy account-processing platform and digital banking suite from Fiserv.
  • Insuritas to power insurance solution for Patelco CU.
  • NICE Actimize teams up with Mphasis to provide anti-fraud, enterprise risk, and compliance solutions.
  • Volate Technologies launches solution for “plug and play” integration with Ripple.
  • ACI Worldwide partners with U.K.-based Raphaels Bank to provide access to the Faster Payments Scheme.

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.

NICE Funding! CallVU Raises $3 Million


In a round led by Liberty Global Ventures and featuring the participation of fellow Finovate alum NICE Systems, CallVU has raised $3 million in new funding. The investment is the second major capital infusion for the digital engagement platform developer since its undisclosed seed round in 2012.

Joining the round were AfterDox Angel Investment Group and 2B Angels. Tuval Lava, CallVU’s president and chairman of the board, said the funds would help the company improve its technology and grow internationally. “The fact that such a distinguished group of leading international investors have made such a commitment to CallVU illustrates the potential they see in the field of mobile digital engagement in general and in CallVU in particular,” Lava said.


Pictured (left to right): Amitai Ratzon, VP global sales, and Assaf Frenkel, VP, product & marketing, demonstrated the CallVU Mobile Digital Engagement platform at FinovateSpring 2015 in San Jose.

In partnering with NICE Systems, CallVU plans to develop a “joint go-to-market approach” that will help the company expand. The plan includes new offices around the world and hiring sales, product management, software development, and marketing talent. To this end, NICE Systems EVP for Corporate Development Eran Liron highlighted the multiple use-cases for CallVU’s technology. “CallVU Mobile Digital Engagement platform helps financial service organizations and telecom operators, as well as health, travel, and retail companies, advance their digital transformation and contact centers’ optimization strategies a step further,” Liron said.

Lead investor, Liberty Global Ventures, is the investment arm of global cable-giant Liberty Global. The fund invests in both early- and late-stage companies, typically committing $2 million to $20 million, and operates in 14 countries. Liberty Global Ventures’ portfolio features 29 startups (as of December 31, 2015) working in wireless HD video delivery, virtual video technology, and interactive commerce and merchandising, among other fields.

Founded in 2012 and headquartered in Tel Aviv, Israel, CallVu demoed its Mobile Digital Engagement solution at FinovateSpring 2016. The company was named a Cool Vendor in CRM Customer Service and Support in Gartner’s 2016 report. CallVU was featured in our look at fintech in Israel last week. Ori Faran is CEO.

Finovate Alums Help Represent Fintech Innovation in Israel published an interesting, metric-based post on the tech scene in Israel. The post emphasized that while the country has a well deserved reputation as a “cybersecurity hotspot,” it is also true that “Israel’s tech ambitions and prowess extend much further.”

The salient statistic for me: 430—the number of fintech startups headquartered in Israel—is highly impressive, considering only 90 fintech startups existed in 2009.

With that in mind, here’s a look at some recent Israel-based Finovate alums who are helping make the country one of the world’s key locations for fintech innovation.

Our 14 Israel-based Finovate alums have raised more than $164 million in funding. Two alums—NICE Systems and Top Image Systems—are publicly traded on the Nasdaq, and two more— and TipRanks—have won Best of Show awards.


There’s no doubt the fintech in Israel is on the move. The country’s first fintech hub, The Floor, was launched in 2015, and as of March 2016 is now located at the Tel Aviv Stock Exchange. Writing about why fintech innovation is thriving in Israel, VentureBeat’s Avi Zeevi of Carmel Ventures highlighted a few key features:

  • Mastery of relevant technologies such as real-time analytics, cybersecurity, and risk management
  • Legacy of success creating a “startup ecosystem (with) massive amounts of knowledge”
  • The country has learned from other key global financial centers
  • Global financial institutions have a presence and have been investing in Israel
  • Israeli FIs “have always been open to innovation”

“All of this had led to a dramatic rise in investments in Israel fintech companies,” Zeevi wrote. “By addressing the needs of both developed and emerging markets, Israeli fintech will only continue to grow.”

Are you an Israel-based Finovate or FinDEVr alum that we overlooked? Send us an email at and we’ll update our roster.