Finovate Debuts: RedCloud Technology Helps Financial Institutions Build Regulatory Compliant Products

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The RedCloud 1 Platform by RedCloud Technologies is a transaction engine and processing platform. By leveraging RedCloud 1, financial service providers can offer regulated digital financial services such as domestic payments, remittances, mobile wallets, lending, savings, and insurance.

The RedCloud 1 solution, which can be co-branded or white-labeled, can act as an end-to-end transaction platform or simply form a new front-end interface to existing backend processes. It is designed to help effectively deal with regulatory constraints.

Front-facing platform

The RedCloud 1 platform offers a simple, omnichannel user experience. For example, when using its remittance capabilities to send money internationally, consumers log in with a unique identifier (for example, email address, phone number, or Twitter account), then enter the amount and their PIN. RedCloud processes all transaction types, including cross-border payments and remittances, in real time with no settlement delay.

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Behind the scenes

The RedCloud administration view offers multiple tools, such as a transaction-search capability and a CRM module, that enable service providers to manage the platform.

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The analytics suite offers a real-time bank reconciliation view that shows both sides of all transactions. Preconfigured insights are not only useful to service providers, but also to agents and merchant clients, who can use transaction data to drive business strategy.

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The company’s configuration tool has a drag-and-drop WYSIWYG interface which enables non-technical employees to bring new products to market with no need for IT involvement.

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What’s next

RedCloud is contracting with several organizations across Africa and Asia.

RedCloud founder, Justin Floyd and product manager, Matthew Smith, demoed RedCloud 1 at FinovateFall 2015:

 

RedCloud Launches RedCloud 1 to Offer a Mobile Transaction Engine

This post is part of our live coverage of FinovateFall 2015.

RedCloudTechnologyLogoRedCloud Technology launches its RedCloud 1 Platform:

Available on-site, off-site, or as a hybrid cloud solution, RedCloud 1 enables organizations to launch highly disruptive financial services and provides an immensely powerful and flexible transaction engine and processing platform delivered through mobile devices. While the Financial Service Cloud (payments, savings, and/or loans) is our flagship product, we also have Agent, Merchant, and Insurance Clouds.

Separate or combined, our clouds empower banks, mobile network operators, insurers, and fintech companies that process payments with the ability to get a powerful, user-friendly digital offering in to the hands of their customers, positioning them as an innovator. Our clouds are available through a pay-as-you-grow pricing model.

Presenters: Justin Floyd, founder of Red Cloud, and Matthew Smith, product manager

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Product launch: October 2015
Product distribution strategy: Direct to business (B2B); through financial institutions; through other FinTech companies and platforms; licensed

HQ: London, United Kingdom
Founded: February 2014
Website: redcloudtechnology.com
Twitter: @RedCloudTech

Finovate Alumni News

Around the web

  • Whiznews in Southeastern Ohio looks at a local deployment of SizeUp with the Zanesville-Muskingum Chamber of Commerce.
  • RedCloud names Katia Hilal as vice president of product. See RedCloud at FinovateFall 2015 in New York.
  • Omaha.com talks with Doug Parr, chief revenue officer for Prairie Cloudware, about the EMV transition this fall.
  • Azimo brings its money-transfer services to Sierra Leone and Guinea.
  • Coinbase enables U.K. and Spanish customers to buy bitcoin using 3D Secure credit and debit cards.
  • Interxion announces availability of Azure ExpressRoute in Amsterdam. Check out Interxion at FinDEVr 2015 in San Francisco.
  • Apple identifies Flint, MicroStrategy, and Xero as partners for the iPad-for-business effort.

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 Debuts: Emailage Detects Fraud Through User’s Email Address”
  • “Finovate Debuts: FundAmerica Helps Crowdfunders Stay Compliant”
  • “TIO Networks Garners $1.7 Million From Secondary Stock Offering”

Around the web

  • CashStar names Katherine Edenbach as its new corporate controller.
  • E-SignLive by Silanis picked as a KMWorld Trend-Setting Product of 2015.
  • CIO cites Avoka’s win of most innovative customer solution during Citi’s demo day in London.
  • Aquiline Capital Partners reveals an investment in Fenergo, an Irish-client, lifecycle-management specialist.
  • Intuit to sell off Quicken with no plans to divest Mint or Mint bills.
  • Holvi launches app for iOS and Android.

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.

FinovateFall Sneak Peek: RedCloud

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The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

RedCloudLogoRedCloud’s RedCloud 1, launching in November, is a distributed, cloud-based platform used by banks and fintech companies to deliver the next generation of financial services.

Features:

  • Increased speed
  • Greater interoperability
  • Near real-time customization

Why it’s great
With RedCloud 1, banks and fintech companies are ready for the next era in payments. RedCloud 1 empowers clients to build for a Global Marketplace with ease, no matter what size.RedCloudPresenter1

Presenters

Justin Floyd, Founder
Floyd is an entrepreneur and investor, currently serving as a board director and CEO of RedCloud Technologies.
LinkedIn

RedCloudPresenter2Soumaya Hamzaoui, Chief Product Officer
Hamzaoui is an entrepreneur, investor and chief product officer, most recently involved with RedCloud as their product leader in the company’s global market development.
LinkedIn

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