Finovate Alumni News

On Finovate.com

Around the web

  • Dutch fintech Five Degrees purchases core banking IT systems provider, Libra.
  • QuickBridge to participate in Lendio’s turndown lending program.
  • PasswordPing announces new Chief Executive Officer, Michael Greene. See PasswordPing at FinovateFall next month.
  • Identity-as-a-service specialist Onfido forges partnership with Claim Technology.
  • Alphacomm Solutions to deploy ACI Worldwide’s UP eCommerce Payments technology.
  • CurrencyFair acquires Hong Kong-based Convoy Payments.
  • PYMNTS.com interviews Entersekt SVP of engineering, Richard Bailey.
  • Bluefin and payment service provider Anderson Zaks partner to provide Bluefin’s PCI-validated Point-to-Point Encryption (P2PE) security solution to merchants and retailers.

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: Fintech News from Around the World

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.

Sub-Saharan Africa

  • Mookh Africa, a fintech startup from Kenya that has developed a social business payments solution, wins Visa’s Sub Saharan Africa Everywhere Initiative contest.
  • Techpoint declares 2018 The Year of the Nigerian Fintech Startup.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.

Central and Eastern Europe

  • Equities.com reviews the 10 Hottest Places to Launch a Fintech Startup in Central and Eastern Europe.
  • Total Croatia News looks at money transfer startup, Aircash, which has gained 15,000 users in the first 12 months of operation.
  • Ukraine’s Financial Stability Council issues digital currency regulating document as popularity of crytocurrency trading in the country grows.

Middle East and Northern Africa

  • Salaam Gateway discusses how Dubai’s FinTech Hive supports Islamic fintech with the organization’s executive Vice President, Raja Al Mazrouei.
  • UAE-based merchant acquirer Network International introduces e-commerce platform for SMEs.
  • Daily Sabah looks at venture investment in Turkey in the first half of 2018.

Central and South Asia

  • Aurora talks with President and CEO of Telenor Bank, Shahid Mustafa about microfinance and e-commerce in Pakistan.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Fortune India interviews PayU India’s CEO Amrish Rau.

Latin America and the Caribbean

  • Incoming cohort for Startupbootcamp FinTech’s second Latin America-oriented program features fintechs from Mexico, Costa Rica, Ecuador, Chile, and Peru.
  • The Sociable profiles Microsoft-backed Imagine Lab Chile.
  • PYMNTS.com looks at how financial institutions in Latin America are coping with cyber fraud.

Asia-Pacific

  • Trulioo extends its identity and business verification service to the Philippines.
  • Personetics Scores Minority Stake Investment from United Overseas Bank.
  • Hong Kong Monetary Authority unveils Open API framework.

Top image designed by Freepik

Onfido to Secure Drivers for India’s Largest Rideshare Company

Onfido to Secure Drivers for India’s Largest Rideshare Company

Digital identity verification company Onfido partnered with India’s largest shared ride company Zoomcar last week. This marks Onfido’s sixth ridesharing partnership. The London-based company has also teamed up with Drivy, BlaBlaCar, EasyCar, Turo, and most recently, SnappCar.

Zoomcar’s mobile app allows users to rent cars and cycles by the hour, day, week, or month. Onfido will help Zoomcar quickly and securely verify a user’s identity. To rent a car, users take a selfie and a photograph of their ID document using their smartphone.

“Onfido is a fantastic partner to work with,” said Rajesh Bysani, CPO at Zoomcar. “Their mobile-first document and facial verification is helping us to achieve our core mission of convenient car rental, while improving the safety of our platform. It benefits everyone.”

Founded in 2012, Onfido leverages machine learning to offer biometrics-based fraud detection. The company’s Facial Check compares a photo on the user’s ID to their live selfie to ensure the customer is who they claim to be. Additional features include a document check, which ensures the user’s document has not been forged, digitally tampered with, lost, or stolen; as well as an identification record check, which cross-references a user’s details against global databases and credit reference agencies.

Onfido provides identity checks in 195 countries for 1,500 customers across the globe. At FinovateEurope, the company’s CEO and Co-Founder Husayn Kassai demoed how Onfido conducts a facial verification check with video. The company has received more than $30 million in funding from investors including Salesforce Ventures and Idinvest Partners.

Finovate Alumni News

On Finovate.com

  • nCino Partners with Secure Trust Bank.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest.
  • Continuity to Provide Compliance Tech for Affinity FCU.

Around the web

  • CREALOGIX to implement its mobile application platform for VZ Depotbank.
  • Trulioo extends its identity and business verification service to the Philippines.
  • OutSystems named Leader in Gartner’s Magic Quadrant for Mobile App Development Platforms for the second year in a row.
  • MBT Bank to deploy SilverLake System from Jack Henry & Associates.
  • Fairstone Financial converts consumer loan portfolio to Fiserv’s LoanServ real-time servicing platform.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.
  • Lendio announces 90% YoY quarterly revenue growth.
  • Blackhawk Network’s CashStar wins PayTech award for Best E-Commerce Initiative.

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

  • Socure Unveils Digital Identity Bot Aida.

Around the world

  • PayStand teams up with Silicon Valley Bank and First Data in fintech accelerator, Commerce, Innovated.
  • Hydrogen launches Hydro mobile app, a security and identity management app that leverages the public blockchain.
  • India’s self-driving mobility platform Zoomcar partners with identity verification specialist Onfido.

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

  • Baker Hill Inks Loan Origination Deal with West Texas State Bank.
  • Finicity and Cre8tech Labs’ Lender Price Partner to Streamline Digital Lending.

Around the web

  • LendInvest partners with Onfido to bring identity verification to LendInvest’s Buy-to-Let digital applications.
  • Malauzai and Somerset Trust Company declare August 20th as National Fintech Day.
  • Thomson Reuters launches Compliance Management solution, an addition to its Connected Risk platform.
  • Ripple announces the transition of David Schwartz from Chief Cryptographer to Chief Technical Officer.
  • Identity verification startup Sedicii earns a finalist spot in BBVA’s Open Talent competition.
  • Barclays to deploy Finastra’s Fusion Loan IQ system.
  • AlphaPoint wins Best Distributed Ledger Technology Provider by the 2018 Water Technology customer survey.

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

  • Best of Show Winner Bambu Raises $3 Million in Series A.
  • Bill.com Launches International Business Payments.

Around the web

  • Onfido to provide identity verification for HBUS, the strategic partner of cryptocurrency exchange Huobi.
  • Jack Henry migrates 66 FIs to its JHA Card Processing Solutions.
  • Avaloq to help U.K.-based financial services firm Smith & Williamson deliver investment management services to clients.
  • PYMNTS.com looks at Emailage and its expansion into the Canadian market.
  • Jumio and Backbase partner to improve customer onboarding with online identity verification technology.

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

  • Trusted Key Raises $3 Million for Passwordless Authentication.
  • Student Loan Genius Picks Up $4.7 Million in New Funding.

Around the web

  • Argentine prepaid services provider Nubi partners with Mambu.
  • Mitek to provide KYC for cryptocurrency broker BTCDirect.
  • Flywire and Billtrust collaborate to improve cross border accounts receivable for Billtrust customers.
  • BioCatch offers its behavioral biometrics solution as an integrated module to the ForgeRock platform.
  • Personal Capital partners with benefits firm Alight Solutions and asset manager AllianceBernstein.
  • OurCrowd is set to hit $1 billion in crowdfunded assets 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.

Finovate Alumni News

On Finovate.com

  • BillShark Lands Funding and Advisory Backing from Mark Cuban.
  • Revolut Unveils New Savings Solution, Vaults.

Around the web

  • Openbank, Santander Group’s digital bank, to deploy WealthSuite from Temenos.
  • The Victory Bank chooses ProfitStarsCommercial Lending Center Suite to support commercial loan growth.
  • Identity verification provider Onfido names David Clarke as new CFO.
  • First National Bank of Eagle Lake in Texas partners with Insuritas to launch bank-owned insurance agency.
  • NTT Data announces successful completion of PoC data analysis trial for Bank of England, Join NTT Data at FinovateSpring, May 8-11.
  • CAN Capital hires Tom Davidson as Chief Financial Officer.
  • Entrust Datacard’s IntelliTrust Authentication Solution wins Frost & Sullivan’s 2018 North American Technology Leadership Award.
  • TechCrunch: Twilio’s wireless platform hits general availability.

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 Power ID Verification for SnappCar

Onfido to Power ID Verification for SnappCar

Digital identity verification company Onfido has teamed up with Snappcar to verify the identities of the Dutch car-sharing company’s users in The Netherlands, Denmark, Sweden, and Germany.

Snappcar currently has 400,000 users across Europe, and is looking to Onfido, which accepts 600 document types across 192 territories, to validate customer identities as it expands into other geographical regions. Onfido will help quickly and efficiently onboard new users, who will be required to upload a picture of their identity document, along with a selfie to join Snappcar.

In a statement, Erica Rasch, SnappCar Product Owner said that Onfido “improves the speed of [SnappCar’s] identity verification process.” She added, “They enable us to be much more flexible in adapting the verification criteria, which means a better verification experience for our international user base.”

Snappcar joins Onfido’s other clients in the P2P car-sharing industry, including Drivy, BlaBlaCar, EasyCar, and Turo.

Founded in 2012, Onfido has received more than $30 million in funding from investors including Salesforce Ventures and Idinvest Partners. The company provides identity checks in 195 countries for 1,500 customers across the globe. At FinovateEurope last week, Onfido demoed how it conducts a facial verification check with video (the demo video will be available next week.) Husayn Kassai is CEO.

Finovate Alumni News

On Finovate.com

  • Gusto Goes Freemium.
  • Onfido to Power ID Verification for SnappCar.

Around the web

  • Tradeshift partners with Canon Business Process Services to enable clients to digitize their supply chain.
  • Ayondo to list on Singapore Exchange.
  • TD Finance announces partnership with auto shopping and financing innovator, AutoGravity.
  • Jumio brings KYC, AML, onboarding support to crypto platform, Monaco.
  • Money.pl looks at the number of Polish companies that demoed at FinovateEurope 2018 this month.

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.

FinovateEurope Sneak Peek: Onfido

FinovateEurope Sneak Peek: Onfido

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

Onfido uses machine learning to help over 1,500 global businesses verify the identities of their customers using just a picture of an ID card and a selfie video.

Features

  • The most sophisticated anti-spoofing technology on the market
  • Users perform randomised actions to gain access to online services
  • Businesses can onboard at scale while minimizing risk

Why it’s great
Onfido’s Facial Check with Video is the market’s most robust liveness detection, helping prevent identity fraud and enabling online businesses to scale.

Presenters

Husayn Kassai, CEO & Co-Founder
Kassai is the CEO and co-founder of Onfido. He was named one of Forbes’ 30 Under 30 in 2016, and currently sits on the All Party Parliamentary Group on AI.
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