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.

Onfido Teams Up with Extended Stay Marketplace 2nd Address

Onfido Teams Up with Extended Stay Marketplace 2nd Address

Less than one month after announcing its expansion into France and a new partnership with IDEMIA, Onfido is back in the news. The identity verification specialist is bringing its technology to San Francisco, California-based online rental marketplace, 2nd Address.

“As the rentals market gets ever more popular, with millions of online transactions happening every month, it’s hard to know if your customers are who they claim to be,” Onfido CEO and co-founder Husayn Kassai said. “We bring trust to digital interactions worldwide and pride ourselves in delivering an experience that’s as rapid as it is robust.”

2nd Address provides furnished, long-term rental accommodations for business professionals in the U.S. Onfido’s identity verification technology will enable the company to quickly and accurate verify and onboard new renters at the point of booking while helping protect hosts against fraud. The process is straightforward: potential renters take a selfie and a photo of their identity document. Onfido’s technology determines the legitimacy of the ID document, and compares the selfie image to the photo on the ID.

“2nd Address is committed to making sure that not only do our guest have a modern booking process, but that our hosts receive high-quality guests,” company CEO Chung-Man Tam said. “Onfido helps us deliver a smooth user experience while also creating the trust and safety that’s crucial to our community.”

Onfido demonstrated its Facial Check with Video technology at FinovateFall 2018. The point-of-signup solution leverages machine learning to detect liveness to ensure that facial checks cannot be spoofed by stolen photos or IDs. Partnered with firms such as Zipcar and fellow Finovate alum Revolut, Onfido provides verification checks in more than 190 countries around the world.

The company has raised $60.3 million in funding. Crane Venture Partners, Microsoft Ventures, and Salesforce Ventures are among Onfido’s most recent investors.

Finovate Alumni News

On Finovate.com

  • Onfido Teams Up with Extended Stay Marketplace 2nd Address.
  • London’s Accountant Marketplace Capitalise Raises $4.5 Million.
  • Coinbase Acquires Blockchain Intelligence Platform Neutrino.

Around the web

  • Featurespace brings its anti-fraud technology to Singapore.
  • Revolut CEO Nik Storonsky urges UK government to provide special tech visa to ensure London’s status as a “fintech powerhouse” after Brexit.
  • Fiserv helps Kazakhstan’s Halyk Bank centralize its currency management process.
  • Bottomline Technologies partners with UMB Financial to offer Visa-powered payables solution to customers in the U.S.

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

  • ACI Worldwide enhances its UP Merchant Payments solution with the purchase of technology assets from RevChip and TranSend.
  • Onfido to provide identity verification for P2P RV rental marketplace, RVshare.
  • Coinbase enables transactions via PayPal to 32 countries in Europe courtesy of new collaboration.

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

  • Insurtech Innovator CoverHound Fetches $58 Million in New Funding.
  • Bill.com Partners with American Express to Offer New AP Solution, Vendor Pay.

Around the web

  • Revolut and WeWork team up to provide three months of “hot desk space” to Revolut for Business customers.
  • PXP Financial, borne of the merger of PXP and Kalixa, announces its public launch.
  • U.K.-based cloud accounting firm FreeAgent to offer direct data feeds to banks via the Open Banking framework.
  • bpm’online forges partnership with Meritus Business Solutions.
  • Optimove unveils iGaming Pulse, a benchmark solution to enable gaming operators to test the performance of their platforms against industry performance metrics.
  • Onfido appoints former Head of Computer Vision for Robotics at Amazon, Mohan Mahadevan as its new VP of Research.
  • Switch reports that its CardSavr service boosts credit card usage immediately at activation.
  • Enveil announces technology partnership and integration with advanced data security solution and services provider Thales.
  • CuneXus partners with outdoor recreational vehicle buying network, Rollick, to streamline the financing process for RV shoppers.

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

  • Ephesoft Helps Businesses Leverage the Cloud to Meet Demand.
  • Now a Temenos Company, Avoka Unveils Workspaces for Retail Banking.

Around the web

  • Onfido forges partnership with PensionBee.
  • Portugal’s Banco CTT to leverage technology from Fiserv to fight money laundering.
  • Lendio announces providing more than 5,000 Kiva loans to support women-owned businesses.
  • NCR unveils its EMV-integrated Equinox Luxe devices for NCR Connected Payments, giving a secure payment route for retailers.
  • Hooyu to provide online verification for mobile egaming operator, Small Screen Casinos.

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

  • CuneXus Starts New Year Signing its 100 Customer.
  • Credorax Partners with Temenos to Enhance Payment Services.

Around the web

  • Zurich Topas Life, part of Zurich Group, selects Vymo as its sales productivity solution.
  • Modo powers new loyalty solution from FIS, Pointopia.
  • Baker Hill announces major 2018 milestones.

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

  • Feedzai and DataRobot Team Up to Tackle Financial Crime.
  • Revolut Turns to ClauseMatch to Streamline Compliance.

Around the web

  • Identity verification specialist Onfido partners with augmented identity innovator IDEMIA.
  • NICE Actimize unveils new integrated fraud management platform, IFM-X.
  • Open banking platform provider Token hires new Chief Technology Officer, Gaurav Kohli.
  • RightCapital taps Pietro La Greca as VP of Enterprise Sales.

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.

Onfido to Accept Bitcoin Payments Courtesy of BitPay Partnership

Onfido to Accept Bitcoin Payments Courtesy of BitPay Partnership

Two of the hottest trends in fintech – blockchain technology and identity management – converge in the latest partnership between identity verification platform Onfido and global digital asset payments specialist BitPay. The companies are working together to enable Onfido customers to pay for identity verification services using Bitcoin. At the same time, BitPay will leverage Onfido’s technology to satisfy its own KYC compliance requirements, as well as to accelerate secure onboarding.

“At Onfido, it’s our mission to build an open world where identity is the key to access,” said company co-founder and CEO Husayn Kassai. “Partnering with Bitpay was the obvious choice for both our businesses. BitPay enables us to securely service more people in a way that is cost-effective and quicker than a bank wire, while we can deliver them the most trusted identity verification service in the crypto space.”

Above: Onfido’s Joel Sacmar (Sales Engineering) and Rob Connors (New Business & Channels) demonstrating Facial Check with Video at FinovateFall 2018.

With more than 1,500 customers globally, Onfido will leverage its partnership with BitPay to further expand worldwide. The company is especially interested in reaching un- and underbanked communities where transactions via mobile device are more common than credit card payments.  BitPay will benefit from Onfido’s antifraud technology, which is currently used by more than 30 of the biggest crypto exchanges and wallets in the world.

“We selected Onfido as our internal identity verification platform as it had the most robust functionality and was easiest to use,” BitPay CEO and President Stephen Pair said. “Allowing crypto companies to pay in Bitcoin shows Onfido’s commitment to the crypto space, and we’re excited to be working together to make crypto more secure, for more people.”

BitPay processes more than $1 billion a year from merchants and B2B customers. Founded in 2011, the company verifies and accepts Bitcoin payments on behalf of its partners, and businesses get their funds settled in fiat currency within one to three business days.

Headquartered in London, U.K., Onfido demonstrated its Facial Check with Video technology at FinovateFall 2018. The feature, available via the company’s SDK, leverages machine learning to validate a user’s identity document, cross-referencing the user’s facial biometrics with international credit and watchlist databases.

Reviewed in the Fintech Times earlier this month after announcing what it called “its strongest year to date,” Onfido earned a spot on the RegTech 100 last fall, and was also featured in Deloitte’s list of the 11 fastest growing tech companies in the United Kingdom.

With investors including Idinvest Partners, Wellington Partners, and Crane Venture Partners, Onfido has raised $60.3 million in funding. The company was founded in 2012.

Finovate Alumni News

On Finovate.com

  • Onfido to Accept Bitcoin Payments Courtesy of Partnership with BitPay.

Around the web

  • eToro adds decentralized payments network, ZCash, to its product suite.
  • IBM announces $250 million partnership with the Bank of the Philippine Islands.
  • Ping Identity announces significant updates to its PingIntelligence for APIs cybersecurity solution.
  • OutSystems reports record revenue in 2018, as well as adding hundreds of new customers and nearly 60,000 new developers.
  • Privakey unveils the latest version of its Privakey CX solution.
  • AlphaPoint hires former R3 chief sales officer Scott Grayson as its new SVP and head of enterprise sales.

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

  • Europe Bets on Bug Bounties, HackerOne to Fight Fraud.

Around the web

  • The Fintech Times reviews identity verification innovator Onfido in the wake of its “strongest year to date.”
  • Infosys Finacle to partner with Santander U.K., facilitating the integration of cash management solutions into existing ERP systems.
  • Diebold Nixdorf names Jeffrey Rutherford as its new permanent Chief Financial Officer, Julian Sparkes as SVP and Chief Digital Officer, and Hermann Wimmer as SVP, Global Retail.
  • Cloud Wars with Bob Evans interviews Q2 CIO Lou Senko.
  • Chesapeake Bank’s alternative lending division, Cash Flow, adds the Commercial Lending Center Suite from Jack Henry & Associates‘ ProfitStars division.

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

  • Expensify Celebrates Profitability, Cash Flow Positivity at Year’s End.
  • Quantum-Safe Security Specialist ISARA Raises $10 Million.

Around the web

  • Tradeshift acquires cloud integration technology innovator, Babelway.
  • Myanmar’s biggest privately-owned bank, Kanbawza (KBZ) Bank picks Finastra’s treasury management solution, Fusion Treasury.
  • Temenos secures core banking deal with Israel’s largest credit card company, Isracard.
  • Onfido reports sales growth of 342% in 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.