Finovate Alumni News

On Finovate.com

  • Blend Integrates with Mortgage Credit Specialist Avantus.

Around the web

  • Recognise Financial Services to deploy nCino’s Bank Operating System.
  • NCR announces plans to acquire Midwest POS Solutions.
  • Courtesy of a new partnership with Personetics, Metro Bank launches its Business Insights solution for business customers.
  • Revolut teams up with Bottomline, enabling real-time payment services to its retail and business customers in the U.K.
  • As part of a new initiative, open banking specialist NDGIT to bring its PSD2 Compliance APIs to Switzerland.
  • 3E Software’s Teslar Software adds Pendleton Community Bank to list of clients.
  • Overbond, FI.SPAN, and Finn.AI among 12 Canadian fintech startups chosen for U.K. trade mission.
  • CardFlight’s SwipeSimple terminal available on PAX A80.

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

  • Kreditech Raises $24 Million to Fuel Global Expansion.
  • Fiserv Delivers DNA to Duca Financial Services Credit Union.

Around the web

  • Overbond unveils COBI Sandbox to enable clients to test and build business use cases and prototypes.
  • In collaboration with open banking solution provider Crassula, Paysend launches its new business account Paysend Connect.
  • Worldline closes 36.4% stake acquisition in equens Worldline.
  • Moven parent company receives patent for financial wellness product.
  • Mastercard launches Threat Scan to assess bank fraud exposure.

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

  • Revolut and Xero Partner on Expense Management Tool.

Around the web

  • Transferwise goes live with new debit cad for customers in Australia and New Zealand.
  • Finastra inks cloud banking deal with U.K. neo bank Gravity.
  • Argentina’s largest national private bank Banco Galicia integrates PFM technology from Strands.
  • Overbond to open three AI analytics labs in Montreal, Quebec, Canada to support R&D in bond pricing.
  • Vymo hires Rajesh Sabhlok as its new Chief Customer Officer, with an emphasis on Japan and APAC.
  • BlueRush announces strategic partnership with InfoSlips.
  • Artivest names Martin Bealieu, formerly executive chairman, as new CEO.
  • Lendio’s marketplace lending franchise program tops $50 million in loans facilitated via its platform.
  • Ignite Sales unveils the latest version of its customer engagement platform, Ignite Neuro 2.0.
  • Salt Edge increases the total number of connected banks in the E.U. to more than 300.
  • Experian unveils new configurations of its Ascend Analytical Sandbox.

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.

Overbond Launches COBI Matching in Pivot to Analytics

When the going gets good, the good go analytic.

That’s one takeaway from the pivot – more than a year in the making – bond market analytics platform Overbond announced today. With the launch of its COBI-Matching solution, the company is reintroducing itself not just as a specialist in new bond issuance, but as a source for real world trading opportunity and liquidity in both traditional and non-traditional fixed income markets.

“We are excited to offer enhanced liquidity sourcing to our buy-side clients as well as global issuers and dealer underwriters,” Overbond CEO Vuk Magdelinic said. “Issuers (and) dealer underwriters now can systematically identify non-traditional liquidity pools and investors can benchmark their portfolio rebalancing decisions.”

COBI-Matching (COBI stands for Corporate and Government Bond Intelligence) is an advanced AI algorithm family which monitors investor behavior, buying patterns, and rebalancing events; identifies traditional and non-traditional bond buyers; and generates best-fit bond buyer recommendations.

The algorithms focus on factors like sector concentration, cross-currency classifications, and credit rating profile. They analyze 2,900+ investor portfolios, and rank investor interest based on both existing holdings and quarterly rebalancing. Trade ideas, pricing tension, and buyer preferences are among the new recommendations available via the new algorithm-based solution.

Solutions like COBI-Matching will enable fixed market income participants to take advantage of growing markets including the Chinese renminbi (RMB) fixed income market (also known as Panda bonds), the market for Asian infrastructure bonds, and the Green Bond market. Issuers can use COBI-Matching for the technology’s pre-issuance analytics, which offer insights into international pricing demand.

Overbond demonstrated its platform at FinovateFall 2017. Headquartered in Toronto, Ontario, Canada, the company won Most Innovative Third Party Technology Vendor (Front Office) at the American Financial Technology awards at the beginning of the year. Overbond’s customers include buy-side institutions with more than $2 trillion in assets under management, as well as global corporate and government bond issuers with $20+ billion in bonds outstanding.

Founded in 2015, Overbond has raised $3.3 million in funding (CAD $4.5 million), and includes Gaingels and Morrison Financial Services Limited among its investors.

Finovate Alumni News

On Finovate.com

  • Overbond Launches COBI Matching in Pivot to Analytics.
  • YellowDog Raises $3.3 Million in Series A.
  • Nutmeg Says No to IPO, Opts for Crowdfunding Instead.

Around the web

  • Ledger integrates with Cardano’s ADA and Yoroi Wallets.
  • Insuritas partners with SouthEast Bank to launch bank-owned digital insurance agency platform.
  • Adobe unveils Commerce Cloud, a customizable and scalable platform to manage, personalize, and optimize the commerce experience.
  • SigFig unveils SigFig Atlas, a financial advice and software-guided sales platform.
  • InComm and WH Smith launch in-store, online hubs for game cards in the U.K.
  • UBank integrates Watson into its customer service offerings with RoboBrain, a Watson-enabled virtual assistant.
  • Token.io and Konsentus launch fast PSD2 compliance solution by combining a PSD2 API with automated TPP verification.
  • Verimi and Signicat partner to deliver verified digital identity solution for European enterprises.
  • HooYu to provide ID verification for esports betting platform, Luckbox.
  • Qover earns a spot on Programmable Web’s list of 13 Notable Insurance APIs.
  • WRAL Tech Wire features Spreedly in a look at local technology companies.

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

  • Revolut Adds Travel Insurance to its Insurtech Offerings.
  • Going Beyond the Demos this Year
  • Envestnet | Yodlee Unveils Single API Solution to Support PSD2, Open Banking Compliance.
  • Upserve Bolsters Online Ordering Features

Around the web

  • Expensify celebrates 10 years of expense reports.
  • Handelsblatt features Kreditech (article in German).
  • Kinetica and UClick push solutions to South Korea.
  • NCR to power prototype branch for UnionBank of the Philippines
  • Bluefin partners with AvantCom Payments Corporation (APC) to provide PCI-Validated P2PE to Oracle clients.
  • Worldpay expands payment processing into Turkey with iyzico.
  • VietinBank announces migration of debit card transactions to Compass Plus’ TranzWare system.
  • Barbican Insurance Group teams up with FICO to better measure the cybersecurity risk of the insured.
  • Cloud Lending Solutions unveils Xcelerate Software Implementation Program.
  • Panalpina World Transport chooses Tradeshift to support digitization of its procure-to-pay process.
  • Ripple joins sharing economy startup Omni’s $25 million fundraising with an investment of XRP.
  • Overbond wins Most Innovative Third-Party Technology Vendor (Front Office) category at American Financial Technology Awards.

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

  • NetGuardians Teams Up with Masaref Business & Systems Consulting.
  • Hyperwallet Now Supports Payouts from Amazon’s Australia Marketplace.
  • Multiple-Time Best of Show Winner Avoka Raises $12 Million in New Funding.

Around the web

  • Fiserv signs agreements with Illinois Educators CU in Illinois and Members Financial FCU in Texas.
  • ABN Amro leverages Matrix from Five Degrees to launch its wealth management solution, Prospery.
  • Overbond appoints George Harrington as new Head of U.S. Business Development.
  • FIS connects Fifth Third Bank customers to The Clearing Houses’ Real-Time Payments system.
  • Kinetica appoints Paul Appleby as CEO.
  • Experian Receives Top Workplace Honor for Fifth Consecutive Year.
  • Technical.ly: Privakey locks down patent for ‘a password-free future.’

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

  • Coinbase Custody Helps Institutional Investors Securely Store Digital Assets
  • Kabbage Expands Small Business Funding with $200 Million Credit Facility.

Around the web

  • Overbond offers U.S. corporate issuers and institutional investors real-time access to its platform.
  • PayPal and Synchrony Financial expand strategic consumer credit relationship.
  • U.K.-based Featurespace to open office in Atlanta in November.
  • WealthForge Debuts Its First Regulation A Offering with New Investor Workflow
  • GoBankingRates features Blend, Unison, and Ellevest in its 10 Startups to Watch in 2018 list.

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

  • Vera Announces $15 Million Strategic Investment from Hasso Plattner.
  • Digiliti Money Celebrates Rebrand by Ringing NASDAQ Closing Bell.

Around the web

  • San Francisco Business Times names Blackhawk Network CEO and President, Talbott Roche, an Inspire Award recipient.
  • Baker Hill NextGen to power business intelligence for iQ Credit Union.
  • CrossFirst Bank to leverage nCino’s cloud banking technology.
  • Geezeo launches digital reputation management solution.
  • Kensho launches open source Python package aims to make app configuration easier.
  • Empyr introduces CPR: Cost-Per-Revenue O2O Performance Marketing.
  • Thomson Reuters and S&P Global enter strategic transcript data agreement.
  • Overbond adds swap pricing calculator to its corporate bond intelligence suite.
  • FinovateSpring Best of Show winner Neener Analytics earns finalist spot in Citi Tech for Integrity Challenge.

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

  • Ripple Releases XRP Metrics in New Report.
  • SocietyOne Appoints Former Westpac Exec as Chief Investment Officer.
  • Check out this week’s FinDEVr APIntelligence

Around the web

  • Fenergo announces new rules-based solution to better enable FIs to meet margin requirement obligations.
  • NCR unveils redesigned tablet point-of-sale app.
  • New development and support center for Monitise supported by $664,000 in business financing from Welsh government.
  • Let’s Talk Payments interviews Marcin Truszel, Founder & CEO of Kontomatik.
  • Overbond Ltd is launching a service that will allow companies to issue bonds digitally.
  • Kony powers KMC Connect Lite mobile app for KMC Controls.
  • Irish Tech News interviews BancVue’s John Waupsh on his book, Bankruption.

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

  • Check out the week’s “FinDEVr APIntelligence”
  • “Finovate Debuts: Uniken Introduces Relationship-Based Authentication”
  • BlueVine’s $49 Million to Fuel Product Expansion”
  • Empyr Powering Yelp’s New Cash Back Program”

Around the web

  • Expensify exclusively endorsed by the world’s leading accounting body.
  • Scalable Capital hits €100m in assets 10 months after launch in Germany and 4 months after U.K. launch
  • vaamo receives license for portfolio management by German supervisory authority BaFin.
  • Morningstar’s HelloWallet launches free student-loan calculator.
  • Signifyd and ThreatMetrix team up to combine machine learning and digital IDs to reduce ecommerce fraud.
  • Cartera Commerce launches Offerlink, a free Google Chrome web-browser extension to help online shoppers save money.
  • Envestnet | Yodlee integrates with Microsoft Dynamics 365 for Financials.
  • Kalypton wins the Dassault Systemes 3DS fintech challenge.
  • FinDEVr alum Braintree introduces commerce infrastructure tools.
  • ACI Worldwide named “frontrunner service provider” for EBA instant credit-transfer scheme.
  • Overbond integrates DBRS credit ratings into its platform.
  • DarcMatter earns first-place honors at Next Money Shanghai Semifinal Pitch competition.

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 Debuts: Overbond Leverages Technology to Reimagine Bond Issuance

overbond_homepage_november2016

Leveraging the power of technology to make raising capital in the bond market easier and more efficient for large companies is the goal of Overbond, the Toronto-based startup launched in 2015. The firm’s technology enables companies to access both investor and dealer networks directly for the first time. CEO Vuk Magdelinic, co-founder, calls Overbond “a little bit like eBay meets Funding Circle.”

Even though bond-issuance is the “lifeline” of finance, Magdelinic notes that the processes and technology supporting this $2.6 trillion industry are far from state of the art. He said:

We talk with inside investors who tell us they are getting inundated with hundred-plus phone calls a week regarding new bond issues. Issuers have lost confidence [as to whether] they are getting the best price possible on their bonds. And regulators have caught on and said flat-out that the process isn’t competitive and transparent enough.

Overbond’s platform replaces a process that, in addition to being 50-years old, is manual, non-transparent, error-prone and costly for everybody involved.” By digitizing every step of the bond-origination process, Overbond provides all participants with transparent, digital price discovery, robust deal-execution workflow and “better relationships,” courtesy of the platform’s big data analytics, which scan and evaluate the universe of investors to make specific, predictive relationship-management recommendations.

At FinovateFall, Overbond debuted its proprietary digital price-discovery module. “It’s all about price discovery, ” Overbond co-founder and Head of Product Han Ryoo said while introducing the new feature live on stage. “We allow discreet channels for issuers, dealers and investors to express their interest,” he said, “and dealers are able to turn this interest immediately into orders.”

Company facts:

  • Founded in 2015
  • Headquartered in Toronto, Ontario, Canada
  • Raised $7.5 million in funding
  • Named one of KPMG’s Top 50 Emerging Global Stars in 2016, a Canadian Innovation Exchange Top 20 Company, and one of Paypal and Techvibes’ Fintech Five.

overbond_stage_ff16

From left: Overbond co-founders CEO Vuk Magdelinic and Han Ryoo, head of product, demonstrated their bond-origination platform at FinovateFall 2016.

overbond_vukmagdelinicWe briefly caught up with Vuk Magdelinic, CEO and co-founder of Overbond, at his booth during the networking session at FinovateFall 2016, and followed up via e-mail afterward. Here are his thoughts on the impact his company’s technology can make on the bond-origination process.

Finovate: What problem does your solution solve?

Vuk Magdelinic: The technology is aimed at making the primary bond-issuance process more digital, transparent, and secure. It reduces operational risk, market risk, and transaction costs for all involved parties.

Finovate: Who are your primary customers?

Magdelinic: Corporate and government fixed-income issuers, fixed-income dealers, and fixed-income investors.

Finovate: How does your technology solve the problem better?

Magdelinic: Overbond is the first fully integrated platform to connect corporate and government bond-market issuers, dealers, and fixed-income investors. It transforms a currently manual process into a digital process and simplifies all stages of bond origination through better relationship management, digital price discovery, and robust deal execution.

Key platform features include:

  • digital primary bond issuance workflow
  • digital supply-and-demand discovery
  • internal/external communication and relationship-management tools
  • advanced data analytics and charting
  • educational resources, documentation management
  • comprehensive issuer/investor/dealer directories

overbond_debut_art1

Pictured: Issuer Directory – The Overbond platform includes an issuer directory that allows you to directly contact issuers, dealers, and investors. It also includes a proprietary algorithm that provides users with “recommended” issuers, investors, or dealers to engage.

Finovate: Tell us about your favorite implementation of your platform.

Magdelinic: Our favorite technology implementation so far is the price-discovery module. It is the first of its kind in the world, and is designed to enable optimal bond pricing and robust deal execution. The module addresses the long-standing issue of price discovery—aka soft sounding—being one of the most inefficient manual components of the bond-origination process.

Instead of countless phone calls and emails, our price-discovery module allows dealers, issuers, and investors to share real-time expressions of interest in a private and secure format. Parties involved can comment, fully customize, and gain insights into inquiries using our proprietary analytics engine. Ultimately, the module allows dealers, issuers, and investors to better gauge the market and gain confidence with respect to deal execution.

overbond_debut_art2

Pictured: Deal Room – The Overbond platform includes an end-to-end workflow for executing bond issuances. Here you can see a bond deal from an investor’s perspective; it includes milestones, your order status, dealer chat functionality, and a summary of the deal.

Finovate: What in your background gave you the confidence to tackle this challenge?

Magdelinic: We are both fintech leaders with extensive capital markets experience. I have more than a decade of experience in capital markets and technology. Prior to founding Overbond, I worked as a risk and regulatory consulting manager with PwC, and led large digital transformations for Deutsche Bank and BNY Mellon. I also spent time working in fixed-income, structured products origination with CIBC, where I met co-founder Han Ryoo.

Han Ryoo, head of product, has more than 8 years of fixed income and fintech experience from CIBC World Markets, TD Securities, BMO Capital Markets, Barclays Capital and Plooto. In particular, Han specialized in corporate bond origination leading $30+ billion in deals for over 40 multinational corporations. Han gained experience in fintech by working as director of operations at the business payments platform, Plooto. However, despite our experience, the most important factor contributing to our confidence in tackling this challenge, is that we believe in the power of technology for efficient capital markets.

overbond_debuts_art3

Pictured: Supply Discovery – Using Overbond’s supply-discovery feature, dealers and investors can see their historical reverse inquiry activity as well as recommended issuers to engage. Dealers and investors can then generate reverse inquiries, send them to issuers, and monitor them through the platform.

Finovate: What are some upcoming initiatives from your company that we can look forward to over the next few months?

Magdelinic: Over the next few months, we have a pipeline of initiatives that we are incredibly excited about! Here are a few things to look out for:

  1. Cobi Intelligence Analyst: Currently in beta format, Cobi is an “intelligence analyst” that uses big data and machine learning to study data and construct algorithms that allow it to make predictions. Cobi was designed to assist all fixed-income participants with their decision making related to the primary bond-issuance process.
  2. Overbond Chat: Overbond Chat allows all fixed-income market participants to build and enhance relationships by establishing private, secure, easily accessible, and ongoing channels of communication among issuers, investors, and dealers.

Finovate: Where do you see your company a year or two from now?

Magdelinic: We see ourselves as the company spearheading the transformation of bond-issuance processes from legacy systems into a fully digital investment banking approach. We plan to drive a more transparent, secure, and efficient process that generates significant value to all stakeholders involved. We see ourselves as a global fintech leader in the primary bond-issuance space, and we plan to empower issuers, investors, and dealers to make more effective decisions with respect to bond issues.


Magdelinic and Ryoo demo the Overbond platform live in this video from FinovateFall 2016 in New York.