Finovate Alumni News

On Finovate.com

  • BlueVine Raises $102.5 Million in New Funding
  • Aerospike Raises $32 Million for NoSQL Data Platform
  • ACH Alert Partners with Apiture to Fight Payments Fraud

Around the web

  • ACI Worldwide announces strategic collaboration with Microsoft to deliver Universal Payments technology via Microsoft Azure.
  • Citi extends its existing contract with Temenos to continue using its Multifonds Global Accounting solution.
  • Arkose Labs and Trusona earn spots on CNBC’s 2019 Upstart 100.
  • Quadient awarded gold for sustainable development.
  • Salt Edge crosses the mark of 600+ integrated PSD2 APIs.
  • ACH Alert partners with Apiture to offer ACH Alert’s fraud detection services to Apiture’s 450+ customers.
  • Bank Mandiri selects Avaloq for wealthtech.
  • Askari Bank selects Finastra’s trade finance solution.

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

  • MaxMyInterest Unveils High Yield Account Max Checking.

Around the web

  • Finastra announces two new apps built via its FusionFabric.cloud open development platform.
  • Fiserv inks partnership with DUCA Financial Services Credit Union, a Toronto, Ontario, Canada-based institution with more than 70,000 members.
  • Ripple’s “acqui-hiring” of the engineering team from Icelandic crypto trading company Algrim helps pave the way for its entry to the country.
  • Flywire and JCB International partner to allow select cardholders to use their JCB card to pay tuition.
  • More than 60 lenders join the CrediVia marketplace to source commercial loans.
  • Bill.com now facilitates payments in more than 130 countries and 100+ currencies.
  • Dwolla partners with TransferMate Global Payments to allow customers and their end users the ability to make and receive international payments.
  • Quadient parent company Neopost changes its name to Quadient.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

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

  • BNP Paribas to Deploy Dynamic Hedging Tech from Kantox.
  • Terafina Teams Up with Alabama’s Listerhill Credit Union.

Around the web

  • Klarna deepens ties with H&M to enable customers to shop now and pay later using the H&M app.
  • NICE’s AML and fraud SaaS solutions to power financial crime strategy for both anti-money laundering compliance and enterprise fraud protections.
  • Terafina to power Listerhill Credit Union’s omnichannel sales strategy and continue its digital transformation to increase member satisfaction and deepen relationships.
  • OurCrowd expands U.S. operations, opens office in Chicago.
  • ID R&D’s IDLive Face to power remote customer account openings and digital ID verification for Innov8tif’s EMAS eKYC.
  • ndgit and Synpulse launch international fintech marketplace in Switzerland.
  • Macrosoft joins Quadient’s Partner Advantage Program.
  • Onfido reports strong revenue growth momentum for Q2 2019; earns recognition from The Sunday Times as one of the fastest growing private companies in the U.K.

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

  • Prosper Launches Mobile App for Investors.
  • Identitii’s Overlay+ to Drive Intelligent Data Exchange for HSBC Bank Australia.

Around the web

  • TechCrunch highlights Lighter Capital’s revenue financing-based approach.
  • Strands celebrates 15th birthday with 700 banks in 30 countries.
  • PyraMax Bank selects Insuritas to launch a bank-owned insurance service.
  • Identitii signs new license agreement with HSBC Bank Australia Limited for its Overlay+ platform.
  • PYMNTS considers how Tuition.io helps employees pay down debt faster.
  • Norima Consulting joins the Quadient Partner Advantage Program to provide financial services companies customer journey mapping and communication management.

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

  • Scalable Capital Raises $28 Million.
  • Finicity Launches Student Loan Account Verification.

Around the web

  • Splitit announces partnership with music software provider Ableton.
  • Jack Henry reports partnerships with 57 community financial institutions in fiscal 2019.
  • Western Union deploys customer journey optimization solution, Nexidia, from Nice Systems.
  • Venmo launches instant transfers to bank accounts.
  • Quadient unveils new archived document and data retrieval solution.
  • Euromoney features BioCatch in its look at the fintech scene in Israel.
  • SuperMoney tops $2 billion in loan requests via its online lending marketplace platform.

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

  • Finovate Global: Brazil-Mexico Fintech Bromance Continues; Iran to Build Blockchain Network

Around the web

  • TSYS agrees to merge with Global Payments in all-stock deal valued at more than $21.5 billion.
  • Onfido to provide ID document verification and facial biometric technology for new background check solution from Checkr, Connect IDV.
  • Vents Magazine highlights Trustly’s Pay’N Play technology.
  • The 2019 Aspire Leaderboard recognizes Quadient as overall leader for CCM for the second year in a row.
  • Star Tribute profiles Sezzle and its plans to go public in Australia later this year.

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.

On Earth Day (and Every Day) Paperless is the Way to Be

Today is Earth Day, and what better way to celebrate than to take a look at fintechs helping out the environment by promoting eco-friendly habits. Here we feature companies with technology that saves trees by reducing the amount of paper used in the industry.

We’ve rounded up a handful of environmentally friendly fintechs in three categories: digital invoicing, paper-free mortgages, digital receipt printing, and paperless onboarding.

Digital invoicing

By taking the invoicing process digital, small businesses not only save paper, they can also save time and potentially receive payment faster, freeing up working capital they can put back into their operations.

  • Paper.id provides SMEs with invoicing tools and payment integration. The company offers tools to help businesses issue their invoices digitally and receive payment via electronic payment methods. Paper.id demoed at FinovateFall 2018
  • Charlie-India’s Invoicing Hub is a white label e-invoicing platform for banks and service providers. The tools allow SME bank clients to send, view, process, and pay their invoices within the bank’s online interface. Charlie-India demoed at FinovateEurope 2018.
  • Tradeshift offers an e-invoicing service that connects companies with suppliers, customers and partners. Among the applications available on the platform are e-invoicing, electronic purchase orders, and automated document validation. Tradeshift demoed at FinovateEurope 2012.

Paper-free mortgages

Mortgage technology is one of the last frontiers in fintech. Regulation and oversight have made the home-buying process somewhat resistant to disruption. In the past few years, however, we’ve seen a handful of startups working to digitize the mortgage process, removing the need for hundreds of sheets of paper required to close a home loan.

  • Namaste Credit is an India-based startup that serves as an online marketplace for mortgage loans. The service connects borrowers with relevant lenders to help them find the loan that best suits their circumstance. Namaste Credit demoed at FinovateFall 2018.
  • Tavant Technologies offers VELOX, a suite of digital products ranging from searching for a home to closing on the loan. VELOX completely automates the process, making compliance more efficient and reducing the need for paper. Tavant Technologies demoed at FinovateSpring 2017.
  • Roostify seeks to give consumers a better way to find and purchase a home. The company’s digital platform offers everything from digital customer onboarding to transparent, digital fulfillment to help lenders offer their clients a more efficient mortgage borrowing experience. Roostify demoed at FinovateSpring 2018.h

Digital receipt printing

Many retailers ask customers if they want to keep their receipt, but even if the answer is “no” the cashier still prints the receipt and throws it in the trash behind the counter. Digital receipt printing eliminates both the paper– and the awkward line of questioning– all together by sending the customer an email receipt.

  • Dream Payments’ cloud-based platform offers a mobile POS device that not only accepts debit and credit cards, but also provides analytics, reports, and gives customers digital receipts. Dream Payments demoed at FinovateSpring 2015.
  • CardFlight offers an API that allows merchants to accept online and offline payments within their own app. The company’s encrypted mobile magstripe reader, combined with its API, offer flexibility while keeping payments– and receipts– digital. CardFlight demoed at FinovateSpring 2013.
  • ShopKeep’s POS technology takes a merchant’s cash register to an iPad. The register accepts a range of payments, from magstripe, to EMV, to Apple Pay; plus provides inventory management tools and purchase reporting analytics. The company’s mobile checkout flow also offers a paper-free, email receipt option. ShopKeep demoed at FinovateFall 2012.

Paperless onboarding

Considered a must for millennials, paperless onboarding not only speeds up the application process, it also reduces errors, eases compliance, and eliminates the need for in-person bank visits.

  • Five Degrees specializes in core banking technology. The company’s Matrix offering helps banks provide SMEs a fully automated, paperless loan onboarding experience. The paperless process lowers cost for both parties while expediting funds. Five Degrees demoed at FinovateAsia 2017.
  • Quadient, formerly GMC Software, helps organizations create a better customer experience. The company’s Mobile Advantage solution is an omni-channel tool that offers digital statements and billing, paperless onboarding, and client e-signature. In addition to improving the customer experience, this combination speeds up workflows and reduces error. Quadient demoed at FinovateFall 2017.
  • Mitek combines digital onboarding with identity verification tools. The company helps banks authenticate an applicant’s ID document and combines this with additional identifying paperwork. The supplemental documents not only verify the customer’s identity, but also provide additional information that can be used in loan underwriting to create a more complete picture of the applicant’s financial state. Mitek demoed at FinovateFall 2017.


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.

Asia-Pacific

  • Digicro receives $300,000 in funding to help fuel its entry to the mobile microfinance market in Cambodia.
  • Monetary Authority of Singapore considers strengthening oversight of bank outsourcing.
  • Fintech News Malaysia looks at the challenges of transitioning toward a cashless society.

Sub-Saharan Africa

  • Quadient announces partnership with South Africa’s Beehive Online Solutions.
  • TechNext looks at the lessons Nigeria can learn from the success of Kenya’s M-Akiba investment mobile app.
  • All Africa reports on the increased use of mobile money in Tanzania.

Central and Eastern Europe

  • Sberbank launches its first IT Demo Day in partnership with 500 Startups.
  • Romania’s Oney Bank partners with Wirecard to bring additional functionality to its mobile app.
  • Sberbank and its subsidiary Sberbank Technology unveil open source-based communications platform for developers, engineers, and architects.

Middle East and Northern Africa

  • Oman-based bank Sohar International integrates biometric authentication into its mobile banking app.
  • Emirates NBD introduces The LaunchPad to help startups connect with angel and early-stage investors.
  • Morocco-based CFG Bank chooses Kony to help drive its digital transformation.

Central and South Asia

  • India’s Federal Bank goes live with its open banking platform.
  • Finca Impact Finance Tajikistan launches search for a new core banking system.
  • Inc.42 features 5 Trends in Fintech You Will See in 2019 in India.

Latin America and the Caribbean

  • Brazil’s largest bank, Itau Unibanco, leverages AI-powered cameras to suspicious behaviors in branches.
  • Scotiabank and The Instituto Tecnológico y de Estudious Superiores de Monterrey (ITESM) unveil new accelerator, Factory A, in Mexico City.
  • Argentina’s Banco Columbia implements Visa Loyalty Solutions en route to its digital transformation.

Top image designed by Freepik

Finovate Alumni News

Around the web

  • U.K. based financial services company Smith & Williamson to deploy Avaloq’s SaaS technology.
  • Quadient announces partnership with South Africa’s Beehive Online Solutions.
  • Sberbank and its subsidiary Sberbank Technology unveil open source-based communications platform for developers, engineers, and architects.
  • Roostify adds financial services consultant Marshall Lux to its advisory board.
  • Morocco-based CFG Bank chooses Kony to help drive its digital transformation.

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.

Quadient’s New Launch Accelerates the Insurance Claims Process

Customer communications management specialist Quadient released a tool today that helps mid-sized insurers deliver personalized claims correspondence to customers across channels. Quadient Correspondence is a subscription-based, SaaS solution that helps insurers make the move to digital without requiring in-house IT expertise.

The new tool works with a company’s existing claims system and because it offers a pre-loaded library of insurance-specific content as well as pre-built workflows, it processes claims faster than traditional methods. Agents can make communication templates in less than one hour, create customized correspondence in less than one minute, make approvals in less than one hour, onboard new employees in less than a day, and communicate via print and digital channels instantly.

To maximize time saved, Quadient Correspondence’s pre-loaded content offers the most commonly used claims templates that are pre-approved for regulatory compliance. The templates are also able to be edited, if needed, to suit specific circumstances.

“The claims process is the most expensive and important customer touchpoint insurers have, and often the moment of truth in an insurer-consumer relationship,” said Tamir Sigal, chief marketing officer at Quadient. “[Quadient Correspondence] is a robust solution that finally enables smaller insurance organizations to operate like a Tier One enterprise, enabling immediate claims process improvement consumers will appreciate.”

Quadient rebranded from GMC Software last fall, and in a demo at FinovateEurope earlier this year, showed how banks can leverage AI. In a report earlier this fall, Ovum listed the Switzerland-based company as a Top Customer Journey Mapping Vendor.