Finovate Alumni News

On Finovate.com

  • Ondot Unveils New Cloud Service to Help Smaller Banks Compete.
  • Urban FT Acquires Remote Deposit Capture Innovator CFC Technology Group.

Around the web

  • TransUnion launches its consumer data mapping solution, TrueVision.
  • Coinbase to offer exclusive trading data to all customers.
  • Plaid unveils its Liabilities endpoint to support development of apps to help combat student loan debt.
  • Signifyd announces general availability of its Signifyd INR Protection add-on, bringing coverage of item-not-received (INR) chargebacks to its fraud protection solution.
  • Klarna partners with Superdry to enable the company’s customers in the U.K. to pay later or pay in three installments.

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

  • Plaid launches Investments to give developers and financial institutions the ability to build holistic views of customer investment accounts.
  • Equifax forges strategic alliance with GIACT Systems.
  • PayPal COO Bill Ready to leave company at the end of the year to “pursue entrepreneurial interests” beyond PayPal.
  • CurrencyFair announces its Come Home campaign offering Irish nationals living abroad the opportunity to win a €30,000 relocation package to return to Ireland.

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 Teams Up with Bookkeeping Franchise Supporting Strategies.
  • Xero Partners with Stripe to Help SMBs Get Paid Faster.
  • HackerOne to Help Keep Facebook’s Libra Bug-Free.
  • Tieto Buys EVRY in $1.5 Billion Deal.

Around the web

  • Insuritas to launch insurance ecosystem platform to disrupt insurance delivery while creating new sources of recurring fee income for banks.
  • TechCrunch reports on the leadership shift at Plaid in which co-founder, CTO, and president William Hockey will step down.

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

  • $468 Million Raised by 20 Alums in Q1 of 2019
  • BanQu Closes Extension on Series A Round
  • Credit Agricole Plans $17 Billion Tech Investment in Four Years
  • Lighter Capital Launches New Financing Options

Around the web

  • Growjo names Coinbase, Plaid, and BlueVine fastest growing startups in California.
  • Ping Identity launches capabilities framework to help clients adopt a Zero Trust security strategy.
  • Sifted looks at Credit Karma’s entry into Europe.

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.

Plaid Launches in U.K.

Plaid, a provider of APIs for financial infrastructure, announced its expansion into the U.K. this week. The move makes a lot of sense– an open banking fintech is launching in the motherland of open banking.

“We’re building a financial network that will deliver on the promise of open banking with the best in both local expertise and global opportunity,” Keith Grose, International Lead at Plaid said in a blog post.

The U.K. is Plaid’s second international market after launching in Canada last year. The expansion overseas initiates the San Francisco-based company’s more comprehensive launch into Europe as a whole.

Plaid elected to launch in the U.K. because, as some have argued, the region is the fintech capital of the globe. More than 1,600 fintech companies have come out of the U.K. and that number is projected to double in the next ten years.

Today’s news is as much about Plaid launching in the U.K. as it is about opening up the possibility for its client applications to do business in the region, as well. Venmo, Robinhood, Coinbase and Acorns all use Plaid to connect to their customers’ U.S. bank accounts, and can now more easily expand into Europe using existing integrations.

Plaid, which was granted its AISP license from the U.K.’s Financial Conduct Authority last October, currently offers five of its products in the U.K.:

  • Auth, an account authentication tool
  • Balance, which pulls account balance information in real-time
  • Identity, which leverages bank data to verify consumer identity
  • Transactions, which pulls bank statement data across banks
  • Assets, a verification of assets tool

Missing from this list is Plaid’s Income product, a tool that validates a consumer’s income and verifies direct deposit data.

At FinDEVr San Fransisco 2014, the company’s founder, Zach Perret gave a presentation about leveraging the Plaid API for financial infrastructure. Plaid has raised $310 million since it was founded in 2013. After the company’s most recent investment last year, TechCrunch estimated Plaid to be valued at $2.65 billion.

Plaid began 2019 by acquiring its competitor Quovo in a $200 million deal. At FinovateSpring earlier this month bill payment platform doxo announced it is leveraging Plaid to bring customers overdraft protection when paying their bills online. And last week, Plaid unveiled Plaid Direct, a lightweight integration that makes banks and fintechs a data source in the Plaid network, allowing end customers to enjoy open banking connectivity across financial service providers.

Finovate Alumni News

On Finovate.com

  • SoFi Announces $500 Million Investment Led by Qatar.

Around the web

  • Trustly launches automated invoice payment solution, Pay Your Invoice.
  • PayPal reaches $10 billion in small business loans issued via its business financing offerings.
  • Mastercard and UOB partner to introduce the UOB Retail Business Metal Card designed for APAC SMEs.
  • Kofax launches its Intelligent Automation software platform.
  • Brazilian exchange brokerage, Frente Corretora de Cambio, goes live with cross-border remittance solution powered by Ripple technology.
  • Fenergo unveils a new suite of CLM tools, Digital Client Orchestration.
  • Trulioo named best identity verification and authentication solution at 2019 CNP Expo.
  • KyckGlobal partners with InComm to provide same-day pay to gig workers.
  • Sam Kilmer offers 3 takeaways of FinovateSpring 2019 in 3 minutes.

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

  • Checkbook Teams Up with Event Management Platform Castifi.
  • TransferWise Doubles Valuation with $292 Million Funding.
  • Bill.com Unveils New Intelligent Business Payments Platform.

Around the web

  • CardFlight partners with payment solutions provider Talus.
  • Revolut introduces social savings solution, Group Vaults.
  • Plaid unveils its easy integration toolkit, Plaid Direct.
  • Temenos forges partnership with UBX, the fintech subsidiary of Philippines-based UnionBank.
  • Wipro develops blockchain-based payment solution for Travacoin.

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

  • Conversational AI Fintech Clinc Raises $52 Million in Series B.
  • Kabbage and Azlo Launch Mission Street Capital to Help Fund SMEs.

Around the web

  • Mastercard unveils its Mastercard Innovation Engine, an API-based platform to enable easier deployment of digital customer experiences.
  • Sezzle teams up with Bank of America Merchant Services, who will serve as the fintech’s digital card processor.
  • Plaid earns recognition as one of the Best Workplaces from Inc.com.

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

  • Holvi Expands to Five New European Markets.
  • Artivest Inks Deal with Institutional Investment Manager LaSalle.
  • BioCatch Brings on New Chief Revenue Officer.
  • Yseop Pairs Up with Larsen & Toubro Infotech.

Around the web

  • Inc. names Blend, Kabbage, Lendio, Plaid, Pendo, Signifyd, and Ripple among the best places to work.
  • Alt Coin Magazine interviews Steven Parker, Crypterium CEO.
  • Interactions‘ IVA was named the top virtual assistant in Speech Technology Magazine’s 2019 People’s Choice Awards.
  • Salt Edge Open Banking API now supports eIDAS PSD2 certificates.
  • NIIT Technologies launches Cognitive Service Desk Audit, a tool to help applications understand and interpret user needs through natural communication.

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.

doxo and Plaid Team Up to Bring Overdraft Protection to Billpay

Online and mobile billpay innovator doxo has announced a new integration with financial services data and insights network – and fellow Finovate alum – Plaid – that will help consumers avoid overdraft charges when paying bills via doxo’s service.

“doxo’s mission is to massively simplify bill payment and reduce anxiety of failed payments and overdraft fees,” doxo CEO and co-founder and Steve Shivers said. “Through this new integration with Plaid, we’re now providing real-time bank balance, at the time of every payment, to help our users avoid those fees. Now users can better time their payments to align with their bank balance, or switch to alternative payment accounts like credit cards when needed.”


In addition to providing transparency, better organization, and less stress for consumers, doxo believes billers will benefit from the improved confidence they will have for each incoming payment. Billers who join doxo’s payment network will be able to add the overdraft protection feature as a user benefit easily, without complexity or expense.

doxo will make the new solution available initially as a beta offering for a limited group. The company anticipates expanding access to all of its customers beginning in June.

“Account overdraft is a huge problem in the U.S. that could be solved in part with more tools that provide real-time insight into consumers’ own bank accounts,” Plaid Head of Sales Paul Williamson said. “Solutions that give people transparency into their financial life are a real win for consumers and can make a serious impact on their ability to understand and manage money.”

doxo made its first Finovate appearance in 2011, demonstrating the web-based Control Panel interface of its technology, and returned to the Finovate stage this week as part of FinovateSpring. Plaid is an alum of our developers conference, presenting Plaid: API for Financial Infrastructure at FinDEVr Silicon Valley 2014.

San Francisco, California-based Plaid was founded in 2013. The company began 2019 with a major acquisition, purchasing rival and fellow Finovate/FinDEVr alum Quovo for $200 million. Named to the Forbes Fintech 50 in February, Plaid has raised more than $309 million in funding from investors including New Enterprise Associates, Kleiner Perkins, Index Ventures, Spark Capital, and Goldman Sachs Investment Partners.

Founded in 2008 and headquartered in Seattle, Washington, doxo launched itsdoxoINSIGHTS report last month. DoxoINSIGHTS is an anonymized, crowdsourced report on household expense data from the largest 25 metropolitan areas of the U.S.

In March, doxo added Apple Pay as a billpay option for its customers – the same month the company announced a partnership with R.R. Donnelley & Sons Company to provide the firm’s clients with access to doxo’s electronic billpay solutions. Winner of a Gold Stevie award from the American Business Awards last year, doxo serves more than 2.5 million users who make payments to more than 45,000 local and national businesses.

doxo has raised $18.8 million in funding, and includes Sigma Partners, Bezos Expeditions, and Mohr Davidow Ventures among its investors.