Finovate Alumni News

On Finovate.com

  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
    • Xero’s new invoicing experience available for all Xero customers and partners over the next two weeks
    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API marketplace.

    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.

    Nordigen, Sensibill Earn Spots in Fintech Europe’s Incoming Cohort

    A pair of Finovate alums – including a Best of Show winner – are among the nine companies chosen to participate in the incoming group of startups for Plug and Play’s Fintech Europe. Nordigen, which made its Finovate debut at FinovateFall last year, and Sensibill, which won Best of Show in its FinovateFall debut in 2017, will join the fintech accelerator’s 12 week program.

    “This batch has a strong focus on AI and Machine Learning,” Program Director  Fernando Zornig said, “with startups in their seed stage all the way to Series C.” Also participating in the upcoming class are: Bankify, Digital Shadows, E-bot7, Fino Digital, Labest, Precire, and Spin Analytics.

    The nine startups in the incoming cohort, Fintech Europe’s third, were selected from more than 214 applicants. The program will give startups the opportunity to meet and work with Plug and Play’s corporate partners, as well as examine pilot projects and potential business and investment opportunities. “We are very excited with this new class of companies that are bringing a new atmosphere to the corporate ecosystem,” Zornig said. “They will get connected with financial institutions from all over the Euro-Zone and beyond.”

    Fintech Europe also announced that its partner base had expanded to nine financial institutions: Deutsche Bank, TechQuartier, BNP Paribas, Nets Group, Aareal Bank, Abanca, Danske Bank, DZ Bank, and Elo.

    Nordigen demonstrated its Nordigen Report at FinovateFall 2018. The Report gives banks and lenders more information about applicants with little credit history, and supports verification of any current liabilities or “red flags” like previous debt collection. The solution also gives lenders new predictive features for credit risk modeling. Founded in 2016 and headquartered in Riga, Latvia, the company returned to the Finovate stage earlier this year.

    Last month, Nordigen was featured in EU Startups’ article, 10 Latvian startups to look out for in 2019. The company raised $800,000 in new funding last fall.

    Sensibill was founded in 2013 and is based in Toronto, Ontario, Canada. The company demonstrated its Insights+ technology, which helps FIs spot revenue opportunities from on- and off-card purchase data, at FinovateFall 2017, earning a Best of Show award. Named to KPMG and H2 Venture’s Fintech 100’s Emerging Stars, Sensibill since then has announced partnerships with NatWest, Quontic Bank, and Royal Bank of Scotland.

    Finovate Alumni News

    On Finovate.com

    • Nordigen, Sensibill Earn Spots in Fintech Europe’s Incoming Cohort.
    • Jumio Unveils Automated AML Screening Solution.
    • Community Access from Urban FT Brings Digital Tools to Small Banks.

    Around the web

    • PayPal teams up with JP Morgan Chase to offer instant transfer option.
    • Coinbase’s Custody service completes its first over-the-counter trade directly from offline storage.
    • HackerOne announces detecting vulnerabilities in up to 43 digital asset projects.
    • Ping Identity wins the DeveloperWeek 2019 Devies Award and the Info Security Global Excellence Award.
    • The Paypers interviews Modo CEO and founder Bruce Parker.

    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.

     

     

    Finovate Alumni News

    On Finovate.com

    • Process as Product: Middleware and Mambu Strengthen Alliance.

    Around the web

    • Nordigen tests its transaction categorization and behavioral analysis capabilities with Nordic financial services firm SEB.
    • NICE Actimize launches financial crime enterprise consulting and advisory practice.
    • Sberbank partners with Russian supermarket chain Azbuka Vkusa to enable payment by fingerprint.
    • Kabbage drives Alibaba.com’s Pay Later program for U.S. consumers.

    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 First-Timer Nordigen Hauls in $800,000 in New Funding

    Latvia-based lending start-up Nordigen has received $800,000 funding from Seedcamp and Finnish venture capital firm Inventure, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

    Nordigen said it aims to disrupt credit bureaus (and has a dig at them) and help creditworthy people get access to loans.

    “It’s hard to love credit bureaus at the moment. What they do was necessary, but with the rise of open banking, we’re now able to build technologies that are much faster, more reliable and more customer-friendly than traditional credit checks,” said Rolands Mesters, co-founder of Nordigen.

    According to the firm, banks across the world reject up to 90% of all loan applications daily. “This is because banks base their decisions on credit history reports from credit bureaus, but not many people have a formal credit history,” Mesters added.

    To back up its plans more, the company also cited a World Bank private credit bureau coverage report, which stated that around 30% of the global population have a record at a credit bureau.

    Nordigen’s core product allows a lender to verify a customer’s real income and spending habits to make the first assessment of their creditworthiness.

    The firm said its “secret sauce” is the ability to identify risk-critical behaviours in customer account data.

    With the new funds, Nordigen explained that it will be hiring across the board with a focus on sales and business development. A big part of the investment will also be directed towards entering new markets, such as Brazil, South Africa, the U.S. and U.K.

    The start-up was established in 2016 in Riga, Latvia, by two Google Demo Day graduates, Mesters and Roberts Bernans.

    The company works with banks and alternative lenders in 12 countries, including the Baltic states, Spain, Finland, Poland, Denmark, Sweden, Germany, Czech Republic, Australia and New Zealand.

    Nordigen makes its Finovate debut this week at FinovateFall in New York.