- “Ask Finovate: Who’s Who in Voice Banking Technology?”
Around the web
- American Banker talks with miiCard CEO James Varga on how miiCard creates “digital passports” for consumers to prove their identities without oversharing information.
- Canandaigua National Bank & Trust hires Insuritas to expand the bank’s existing insurance agency with its omni-channel, insurance-agency platform.
- Payoneer expands presence in India.
- LendingTree adds Ascend Consumer Finances to its personal loan-lender network.
- EyeVerify partners with Olcsan CAD Technology to bring eye-vein biometric technology to Turkey.
- StrategyEye interviews Jens Saltin, Klarna’s head of expansion.
- The Telegraph’s column on the high cost of bank transfer fees highlights TransferWise.
- T24 Islamic core banking solution from Temenos now available as cloud-based service.
- Dwolla ditches the quarter, stops charging 25-cent transaction fee.
- Arxan extends its application-protection platform to support apps built on Android on Intel Architecture.
- Xero reaches 500,000 customers for its cloud accounting service, sets sights on 1-million-customers milestone.
- VentureBeat names Prosper, Lending Club, and TransferWise in list of billion-dollar companies.
- Finaeos forges partnership with Tata Consulting to help SMBs take advantage of Regulation A+ of the JOBS Act.
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.
Sixteen Finovate and FinDEVr alums have been recognized by the PYMNTS Innovation Awards 2015. Three alums, MasterCard , Clover Network and OnDeck took home top honors in their categories, winning gold in “Best New Technology,” “Best POS Innovation,” and “Best Small Business Innovation,” respectively. The rest of the alum field earned silver and bronze in 13 additional categories, including LoopPay, which earned Silver for Best New Technology and a Bronze for “Most Innovative.”
More than 600 companies competed for the awards, with more than 10,000 votes tallied. Finalists were selected by an expert panel, and the top five companies in each category were submitted to the “PYMNTS community” for voting. In addition to the Innovation Awards, the event recognized Phil Tomlinson of TSYS (also a Finovate alum) and Michael Joseph of Safaricom, inducting both into the PYMNTS Hall of Fame. Two women, Carey Kolaja, VP of Global Consumer Products for PayPal and Perse Faily, CEO of Tillster, were also recognized at the event. Apple took home the Innovation Award’s Catalyst Award for what MPD CEO Karen Webster called during the award ceremony, “creating a roadmap for the industry” with its ApplePay innovation.
The full list of winning alums is below. For more information about the Innovation Awards 2015, including the full list of all finalists, visit their page here.
Want some context on the torrid pace of fintech financing in the first three months of 2014?
Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.
A year later, we have just nine alums raising more than twice as much in the month of March alone.
March Madness, indeed.
Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna
, which raised more than $125 million.
But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma
, and the $77 million and $75 million secured by OnDeck
Total raised = More than $592 million
January — $91 million raised by seven companies
February — $139 million raised by seven companies
March — $362 million raised by nine companies
Fresh off its announcement of a $25 million series D, global payments company Payoneer reports that it was chosen by Google to be a payments provider for Google Trusted Stores Program.
Scott Galit, Payoneer CEO, said, “Payoneer provides a seamless, automated payment process that meets Google’s high standards for technology, security and service.”
The Google Trusted Stores program is designed to help consumers find trustworthy merchants when shopping online. Payoneer’s job will be to provide the bank transfer services, and deliver the program’s purchase protection consumer payments in some of the countries where the program operates.
Said Galit, “This exciting new program increases sales for merchants and builds confidence for consumers when making online purchases.”
Payoneer’s global payout platform is used by companies in more than 200 countries around the world. In addition to enabling seamless, cross-border sending and receiving of funds, Payoneer also features a variety of payout options, ranging from bank transfers to prepaid debit cards.
Founded in 2005 and headquartered in New York, Payoneer demoed its technology last fall as part of FinovateAsia 2013. See the company’s presentation here