Finovate Alumni News

On Finovate.com

  • Revolut Unveils Billsplitting Feature.
  • Check out this week’s FinDEVr APIntelligence.
  • ThreatMetrix Shows Off its Strongest Year Yet.
  • Société Générale to Launch Personetics-Powered Chatbot.

Around the web

  • Five Degrees provides CRM and BPM technology for new UK robo advisor, Munnypot.
  • Coinbase wins New York State Department of Financial Services (NYDFS) virtual currency and money transmitter license.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.
  • PwC and Oracle team up to help FIs meet new accounting standards.
  • Handpoint expands line of commerce solutions with semi-integrated mobile EMV for cloud POS.
  • Guardian Analytics appoints Varouzhan Ebrahimian as the company’s new Chief Technology Officer.
  • Finextra: Blockchain launches Digital Asset Research Lab.

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

Around the web

  • Visa builds new blockchain payments platform, Visa B2B Connect, in partnership with Chain.
  • Wipro to acquire cloud services firm, Appirio, for $500 million.
  • Open source subscription billing and payments platform, Kill Bill, integrates with Dwolla.
  • Revolut wins Best New Customer Facing Innovation at Emerging Payments Awards 2016.

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

  • A Deep Dive into the Upcoming FinDEVr Silicon Valley 2016

Around the web

  • Idaho Central CU to deploy Alkami ORB platform.
  • Thomson Reuters unveils blockchain dev platform, BlockOne ID.
  • Banking Technology looks at Misys and its plans for a November IPO.
  • Revolut partners with Bank of Lithuania to promote cross-border payments.
  • Hyperwallet introduces its Tax Compliance Services initiative.
  • Cloud Lending Solutions appoints new chief revenue officer and chief financial officer.
  • Yandex.Money to offer mobile money-transfers and support-group chats for crowdfunding via Apple’s iMessage.

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

  • Malauzai Features Enhanced Card Management, Personalization in Latest SmartApps Release
  • Check out the latest in developer news in our FinDEVr APIntelligence column.

Around the web

  • Bluefin Payment Systems brings point-to-point encryption (P2PE) to Merchant Link.
  • In less than 24 hours, Revolut signs up thousands of businesses for its beta launch.
  • Swedbank to deploy FusionBanking Loan IQ from Misys.
  • Ebury reports 50% gains in customer base, thanks to digital onboarding technology from Avoka.
  • Concur acquires travel-based startup, Hipmunk.

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

  • Fintech Trending: Look Who’s Chasing Venmo, Student Loan Servicing Falls Short
  • DriveWealth Adds Real-Time Margin

Around the web

  • The Times of India examines the role Ripple can play in reducing the costs of overseas remittances.
  • iSignthis integrates its digital KYC technology with Ixaris.
  • Axis Bank’s Tagit-powered app adds augmented reality.
  • Cortera announces 100th release of its Cortera Pulse product.
  • Quisk rolls out mobile-money platform at National Commercial Bank Jamaica Limited.
  • Philadelphia Business Journal names eMoney Advisor one of the “Best Places to Work” in Philadelphia.

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

  • Dashlane and Google Partner to Improve Online Security via Open YOLO
  • Prosper Closes in on $5 Billion Commitment for New Loans

Around the web

  • FIS and Arkansas Governor Asa Hutchinson extend VC FinTech Accelerator program to 2018.
  • Revolut app tops 250,000 users.
  • Narrative Science launches Solution Provider program.
  • Oprah Winfrey Network names WorthFM founder and CEO Amanda Steinberg to the inaugural Opray Winfrey Network SuperSoul 100.
  • Banking technology interviews Rivi Varghese, CEO of CustomerXPs Software.
  • American Banker: Profits, Revenue Forecast Rise at Green Dot
  • Zopa gives a rundown of its four-year history.

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.

7 Alum Leaders Named U.K.’s Coolest People in Fintech

BritishFlagBusiness Insider rounded up the 40 most exciting people in fintech in the United Kingdom. As it turns out, Brexit isn’t enough to shake the fintech scene in the U.K. In fact, according to KPMG, British fintech startups raised $962 million in 2015. Of that amount, London companies raised $743 million.

The list includes these seven leaders from Finovate and FinDEVr alumni:

Taavet Hinrikus, CEO and cofounder of TransferWise

Marta Krupinska, General Manager and cofounder of Azimo

Nikolay Storonsky, CEO and cofounder of Revolut

Giles Andrews, Executive Chairman and cofounder of Zopa

Peter Smith, CEO and cofounder of Blockchain

Usman Khan, CTO and cofounder of Algomi

Nick Hungerford, CEO and founder of Nutmeg

Check out all 40 leaders who made the list. Wonder how Business Insider made its selections? Here’s how the publication described its process:

We looked at who’s done cool and interesting things in the past year, including companies that have raised money or grown rapidly. We’ve also tried to include some of the less obvious names—the people doing great things behind the scenes—as well the faces out front.

Revolut Lands $8.7 Million, Launches Crowdfunding Campaign

Screen Shot 2016-07-11 at 7.17.45 AM

While some European fintech companies are worried Brexit will stifle the tech industry, London-based Revolut’s latest news indicates there’s still room for growth. The company, which offers a multicurrency-payments platform, closed on $8.7 million (£6.8 million) from big-name investors and has a goal to pull in more through a public crowdfunding campaign.

Investors include Ribbit Capital along with existing contributors Balderton Capital, Index Ventures, Point Nine Capital, Venrex and Seedcamp. Today’s Series A round brings the company’s total funding to $13.2 million since it was founded in 2013. According to Business Insider, the company is now valued at $54 million (£42 million).

Revolut is offering the public an opportunity to invest by launching a crowdfunding campaign to raise another $1.3 million (£1 million) hosted on Crowdcube, where investors can participate with as little as £10. Starting today, Revolut is inviting the most active of its 200,000 users to preregister. Others will be able to register when the campaign opens in a week. According to the company’s pitch site on Crowdcube:

Revolut will be inviting people to invest based on the number of contacts in their Revolut contact book. People with the most contacts will be granted priority access by Revolut from Wednesday 20th, 24 hours before the pitch is available to the public.

At press time the company has already far exceeded its $1.3 million goal; 4,832 people have committed to invest more than $11.7 million (£8.5 million).

The Revolut app, combined with a prepaid MasterCard, lets users load money from the bank account in their domestic currency and spend it in 90 different currencies across the globe, including bitcoin, at the interbank rate. The company is seeing more than 1,500 new customers register each day. Since the platform went live about a year ago, users have transferred more than $500 million on its cards. Here’s a look at the growth:Screen Shot 2016-07-11 at 8.21.26 AM

Revolut debuted at FinovateEurope 2015 in London. Revolut’s CEO and founder Nikolay Storonsky began working on the idea after his bank charged him $2,000 in fees after spending $12,000 while traveling abroad. “That is why we built Revolut,” Storonsky said during the demo. “It allows you to exchange, send, and spend your money, completely avoiding all your banking fees without actually using a bank.”

16389701948_d2c7ec0dce_kCEO Nikolay Storonsky, founder, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

In May of this year, Revolut received an e-money license from the U.K.’s Financial Conduct Authority to bolster currency exchange functionality in the app. Post-Brexit, the company anticipates it will receive passporting rights from the E.U. to use the license in other countries. If the license falls through, CEO Storonsky tells Business Insider, “We’ll just set up … an office in Berlin and get licensed there.”

Finovate Alumni News

On Finovate.com

  • Revolut Lands $8.7 Million, Launches Crowdfunding Campaign
  • Spiff Raises $150,000; Adopts Tech Talent from Fink

Around the web

  • Asset TV interviews CEO Tony Aguilar, founder, Student Loan Genius.
  • Business Quarter profiles Ormsby Street MD, Martin Campbell.
  • TechCityNews features Aire in an issue devoted to artificial intelligence.
  • TickSmith upgrades its TickVault Platform with file inventory module.
  • Bank Info Security interviews Fiserv anti-fraud specialist, Andrew Davies.
  • CNBC column on financial fraud and retirees quotes Liz Loewy, general counsel for EverSafe.
  • Bill.com launches Bookkeeping Accelerator Program.
  • CNBC features Moven founder and CEO Brett King speaking about his newest book, “Augmented: Life in the Smart Lane.”
  • Kasasa Named One of the Best Places to Work in Austin for a Second Consecutive 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.

Revolut Receives FCA License, Announces $1 Billion Annual Run Rate

RevolutHomepage2016

London-based startup Revolut today announced it now has an e-money license from the FCA after submitting its application in January. The company will use the certification to bolster its application that allows users to exchange currencies at interbank rates and spend in different countries using a multicurrency card and mobile app.

Revolut also announced some meaty figures of recent growth in a Business Insider piece. In the past 10 months, the company surpassed $500 million processed on the Revolut card (this includes money spent over the Revolut card, the mobile app, and withdrawn from ATMs). That’s up $300 million from February, when the company announced it had processed $200 million.

Additionally, Revolut CEO Nikolay Storonsky states the company is seeing volume increases of 30% per month. The company boasts 180,000 cardholders and signs up 1,500 new customers per day.

In February, Revolut closed on $4.8 million. The company, which hopes to close a $14.5 million round, now has $7.6 million in total funding. In January, Revolut unveiled version 2.0 of its Personal Money Cloud, which it launched at FinovateEurope 2015 in London.