Finovate Alumni News

On Finovate.com

  • Vymo Partners with Microsoft to Help Sales Teams Leverage AI.
  • Trustly and Collector Bank Bring Instant Payments to Nordic Merchants.
  • Fiserv Teams Up with Allegacy Federal Credit Union.

Around the web

  • Gartner recognizes Jscrambler in its 2019 Market Guide for Online Fraud Detection.
  • Fenergo launches new suite of CLM tools, Digital Client Orchestration, leveraging APIs to integrate front, middle, and back office systems.
  • Ping Identity unveils new cloud-based multi-factor authentication and single sign-on bundle do defend against identity-based cyberattacks.
  • Tinkoff Bank introduces its own branded online travel agency.
  • RightCapital announces technology integrations with advisor technology platform Capitect and independent research firm Morningstar.

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

  • RightCapital links up with investment research firm Morningstar.
  • Turbine, the creator of the Lord of the Rings online game, uses Xsolla to power in-game storefront
  • investorID taps IdentityMind’s compliance and risk management capabilities

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

  • Fintonic’s $21.4 Million Funding Boosts Valuation to $180 Million.
  • Sezzle Raises $5.6 Million in New Funding.
  • Fintech’s Innovation Opportunity: From AI to UX.

Around the web

  • Dwolla wins Best B2B Payments Product in the FinTech Breakthrough Awards.
  • G2 Crowd names Signifyd the leader in customer satisfaction in the fraud protection market.
  • FreeAgent launches new option that lets you create estimates that exclude the VAT amount from totals.
  • RightCapital selected to join LPL Financial’s Vendor Affinity Program.
  • American Banker: Envestnet to add lending option to its wealth services.
  • Taulia taps Google Cloud to launch AI-powered invoicing solution.
  • LendIt recognizes CuneXus as Top Emerging Tech Company, marking the company’s 3rd major industry recognition of 2019.

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

  • Feedzai and DataRobot Team Up to Tackle Financial Crime.
  • Revolut Turns to ClauseMatch to Streamline Compliance.

Around the web

  • Identity verification specialist Onfido partners with augmented identity innovator IDEMIA.
  • NICE Actimize unveils new integrated fraud management platform, IFM-X.
  • Open banking platform provider Token hires new Chief Technology Officer, Gaurav Kohli.
  • RightCapital taps Pietro La Greca as VP of Enterprise Sales.

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

  • Five Degrees Teams Up with ieDigital to Launch Digital Banking Portfolio.
  • Sezzle’s $100 Million Line of Credit to Fuel Delayed Payment Tool.

Around the web

  • LoanScorecard unveils SimpleCECL, its solution for loan-level analyses for Current Expected Credit Loss (CECL).
  • Onfido wins 7th place in Deloitte’s 11 fastest growing tech companies in the U.K. roster.
  • OutSystems earns recognition in two categories of the 2018 Gartner Peer Insights Customers Choice reviews: Mobile App Development Platforms and Enterprise High-Productivity Application Platform as a Service (HPaPaaS).
  • Payment Ninja introduces new invoice management feature of its platform.
  • Diebold Nixdorf inks Memorandum of Understanding with Europol to boost cybersecurity knowledge sharing.
  • Entersekt announces plans to expand to Nordic region.
  • RightCapital partners with Commonwealth.
  • Onfido, Azimo, TransferWise, and Kantox earn spots on Deloitte U.K.’s Fast 50.

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

  • Daon Inks Deal with South Africa’s Capitec Bank.
  • Lighter Capital Launches Capital Client Perks Program.

Around the web

  • Ping Identity integrates its multi-factor authentication solution, PingID, with Microsoft Azure Active Directory.
  • MoneyTap, DLT-based payment app developed by SBI and Ripple goes live in Japan.
  • OutSystems appoints Tim MacCarrick as new Chief Financial Officer.
  • Baltic International Bank finishes upgrade of its private, corporate, and retail banking offerings courtesy of a partnership with Temenos.
  • Sberbank customers can now add “cash postcards” – automated images with sound – to their money transfers.
  • CNBC features Plaid: the startup you’ve never heard of.
  • Arxan begins a month-long initiative to raise awareness for improved application security and threat intelligence.
  • RightCapital launches white-labeled, native mobile app.

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.

RightCapital Adds Student Loan Functionality to its Advisory Platform

Back to school season is getting started a little early at RightCapital. The company, which demonstrated its financial planning platform for advisors at FinovateFall 2016, announced this week that its platform will now enable advisors to see the impact of different student loan repayment strategies on their client’s finances. This is designed to both provide clients with a more holistic view of their finances, as well as to help them choose the most appropriate way to retire the debt.

The solution helps advisors and clients to work together to determine the best way to repay student loans by leveraging insights into the client’s income, loan timing, and options for loan consolidation. Repayment options ranging from IBR, PAYE, REPAY, and Public Service Loan Forgiveness are among those included.

“With more than 44 million Americans owing close to $1.5 trillion dollars in Student Loan debt, those dealing with Student Loan repayment is currently an underserved market,” RightCapital CEO and co-founder Shuang Chen said. “Our new capabilities will help fill the void in the planning space, allowing advisors to easily assist their clients with their debt issues.”

RightCapital provides financial advisors with an integrated financial and tax planning solution including tax projections and tax-efficient distribution strategies. The technology features tools for social security optimization, sequencing of return risk, stress testing, budgeting, managing cash flows, insurance, and more. With interactive and intuitive modules, the RightCapital platform helps advisors more deeply engage with their clients, providing actionable financial plans that are easy to understand.

“We are extremely excited to be a disrupter in the financial planning industry,” Chen said. “Our goal is to help financial advisors do more planning in less time with our innovative features, which means we will continue to develop technology that meets the evolving needs of our advisors while looking for new ways to improve the financial planning process.”

Founded in 2014 and headquartered in New York City, RightCapital has raised $2.6 million in funding, and includes Camellia Venture Capital among  its investors. MorningStar featured RightCapital in its list of the Best Advisor Technology Tools for 2018. The company had a successful and busy 2017, forging partnerships with Shareholders Service Group in December, Envestnet Tamarac in November, Trust Company of America in July, and Interactive Brokers in March.

Finovate Alumni News

On Finovate.com

  • Wonga Raises $13 Million in New Funding.
  • TransUnion Teams Up with EXL for CECL Compliance.
  • RightCapital Adds Student Loan Functionality to its Platform.

Around the web

  • PasswordPing wins Startup of the Year at 13th Annual 2018 IT World Awards. See PasswordPing at FinovateFall in New York next month.
  • Zopa to finance loans for CommuterClub season tickets, courtesy of a new partnership.
  • Xero announces integration with GoCardless.
  • PYMNTS.com profiles payroll, benefits, and HR platform, Gusto.
  • MicroStrategy appoints Marge Breya as Chief Marketing Officer.

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

  • AutoGravity Introduces Sheng Wang as New Chief Technology Officer.
  • nanopay Launches B2B Platform for International Commerce.

Around the web

  • Fiserv announces agreements with five credit unions to deploy its core account processing platform, DNA.
  • PNC goes live on real-time payments network via Finastra’s payment services hub.
  • Fifth Third Bank picks FIS to provide real-time payments for customers.
  • The San Diego Union-Tribune recognizes Jack Henry & Associates as a Top Workplace
  • RightCapital ends its second year reporting $20billion total assets linked to platform.
  • Wired names Meniga one of five Reykjavik startups to watch.
  • NYMBUS completes SOC 2 Type 1 Certification.
  • Avoka named in Deloitte Technology Fast 50 and joins CRN Fast50.

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.

RightCapital Announces Integration with Envestnet | Tamarac

Thanks to a new partnership between RightCapital and Envestnet | Tamarac, financial advisors on RightCapital’s platform will be able to use Tamarac’s API to directly access account and holdings information from their clients, enabling real-time financial and tax planning advisory.

“We are very excited about our integration with Tamarac, an industry leading performance reporting and portfolio management system,” RightCapital CEO and co-founder Shuang Chen said. “We’re pleased that this integration will allow advisors to seamlessly connect our two platforms and get the most up-to-date information they need to create comprehensive financial plans for their clients.”

RightCapital’s technology leverages advanced Monte Carlo simulations to enable financial advisors to build personalized retirement plans, optimize Social Security, as well as manage tax liability, budgets, and debt retirement. The solution provides both cash flow and goal based planning, stress testing, and exploration of what-if financial events. RightCapital also helps advisors and clients manage their annuity products, and see how the value of these investments would be affected by changes in market volatility.

(left to right) Song Chen (CTO) and Shuang Chen (CEO) demonstrating the RightCapital platform at FinovateFall 2016.

“Financial advisors have delivered holistic financial planning in the past, but mostly for their high net worth clients,” RightCapital CEO Shuang Chen explained from the Finovate stage last fall. “Not so much for the mass affluent client.” Chen cited complexity, cost, and the time-consuming nature of the financial planning process as the main challenges, and pointed to RightCapital’s approach of digitization and simplification as the solution.

“Our vision at RightCapital is to create a cutting-edge technology that digitizes and streamlines the financial planning process, making it easy for a financial advisors to create a financial plan and intuitive for a client to understand their plan,” he said. “This enables financial advisors to profitably and efficiently create financial plans and serve their mass affluent clients.”

RightCapital was founded in 2015 and is headquartered in New York City. The company demonstrated financial and tax planning solution for financial advisors at FinovateFall 2016. The company has enjoyed a very busy 2017. RightCapital began the year announcing partnerships with Garrett Planning Network, Parsonex Advisory Services, and Wells Fargo clearing service, First Clearing. Integrations with Albridge, Interactive Brokers, and XY Planning Network followed in the spring. RightCapital has raised $2.6 million in total funding, including a seed round of $1.6 million raised in June.