Ripple

Finovate Alumni News

By David Penn Posted on
Categories: Blackhawk Network, eWise, Feedzai, Finicity, Fiserv, Intuit Developer Group, InvestGlass, Jumio, Kony, Markit, PayPal, Quantopian, Qumram, Ripple, StreetShares, Trustly, ZeroDB

On Finovate.com

  • “Finovate Debuts: InvestGlass Built a Robo-Adviser for Advisers”
  • “Intuit Developer Group Drops Financial Data APIs; Partners with Finicity to Ease Transition”
  • “Qumram Raises $2.5 Million to Bring Website Recording to North America & U.K.”

Around the web

  • Ripple opens new office in London.
  • Markit and IHS announce $13 billion merger agreement.
  • Quantopian to launch in Australia.
  • Vibrant Credit Union converts to DNA account-processing platform from Fiserv.
  • Finextra interviews James Redfern, eWise’s global head of sales.
  • PayPal’s Dan Schulman travels to Cuba to see how it can work with the country’s small businesses.
  • Kony updates Kony Visualizer 7.0, releases free starter edition.
  • StreetShares announces SEC approval for Regulation A+ deal.
  • The Evening Show with Simon Rose interviews Trustly’s Chief Commercial Officer.
  • Blackhawk Network’s CEO Talbott Roche receives PYMNTS Innovator Award for “Women Driving Innovation in Payments.”
  • VICE’s Motherboard features ZeroDB. See them live at FinDEVr 2016 on March 29 and 30.
  • Jumio sells assets to Facebook co-founder and early backer, Eduardo Saverin.
  • The Paypers interviews Nuno Sebastiao of Feedzai.

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.

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Finovate Alumni News

By David Penn Posted on
Categories: Avoka, DoubleNet Pay, FinanceIt, Micronotes, Payoneer, Personal Capital, Ripple, SocietyOne, Token, TSYS, WorkFusion

On Finovate.com

  • “Personal Capital Exceeds $2 Billion AUM”
  • “WorkFusion Raises $14 Million Series C Round Led by Nokia Growth Partners”
  • “DoubleNet Pay, Token Earn Spots at Plug and Play Accelerator”
  • “SocietyOne Appoints Former WestPac Exec as CEO”

Around the web

  • Payoneer powers international payments for South American e-commerce merchant, Linio.
  • TSYS certifies the new mobile EMV solution from Handpoint.
  • Global Retail Banker interviews Dilip Rao, head of business development and operations for Ripple in the Asia-Pacific region.
  • “Micronotes Names Artificial Intelligence Innovator and MIT Expert Dr. Luis Perez-Breva to Board of Advisors”
  • “Avoka Named Top Ten FinTech Worldwide by KPMG”
  • Notable features Financeit’s COO, Casper Wong.

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.

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Finovate Alumni News

By David Penn Posted on
Categories: Betterment, Concur, Cortera, Dashlane, Geezeo, Hedgeable, Infosys, Kasasa, Kensho, Ledger, Ripple, SocietyOne, ThetaRay, Wealthfront

On Finovate.com

  • “Hedgeable Helps Investors Add Venture Capital Exposure with New Fund”
  • “Finovate Debuts: Ledger’s Blue Smartcard Mitigates Phishing & Malware Attacks”

Around the web

  • Ripple reports that banks can save more than 40% on payments by using distributed ledger technology.
  • PFM technology from Geezeo now available to customers of Access Softek, courtesy of new partnership.
  • Concur Technologies teams up with CTI, a travel management specialist.
  • Dashlane adds YubiKey support.
  • Nerdwallet profiles robo-advisors Betterment and Wealthfront.
  • ThetaRay launches its Detection Center, the “visual results module,” for its new UI.
  • Britain’s Bank Leumi to deploy e-banking technology from Infosys Finacle.
  • Cortera releases 10 new modeling-attribute families to help commercial lenders improve their risk and response analytics.
  • Kasasa enhances online marketing platform FIRSTBranch to improve the UX by creating a website that drives traffic online and in-branch.
  • The Australian Business Review features SocietyOne.
  • The New York Times publishes extensive feature on Kensho.

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.

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Finovate Alumni News

By David Penn Posted on
Categories: Cardlytics, Check Point, Encap, Ethoca, i-exceed, Linkable Networks, Moven, Ripple, Signifyd, Spreedly, Taulia, Temenos, TIO Networks, TSYS, Xendpay

On Finovate.com

  • “Spreedly Secures $3 Million Financing Round”
  • “Xendpay Brings its Money Transfer Service to Tanzania, Burkina Faso”
  • “Cardlytics Takes Advantage of its Massive Amount of Customer Spend Data”

Around the web

  • Encap Security unveils version 3.1 of its Smarter Authentication platform, including support for Android fingerprint API.
  • Canada’s digital-first EQ Bank goes live with RetailSuite from Temenos.
  • TSYS and Ethoca team up to fight CNP fraud with the TSYS Transaction Recovery Network.
  • i-exceed technologies earns recognition in Gartner’s 2016 look at MADP vendors around the world. See i-exceed at FinDEVr 2016 in New York in March.
  • WSJ builds article on Cardlytics data.
  • Pymnts highlights cost savings from using the Ripple network.
  • Payments Source features Linkable Networks.
  • Signifyd extends integration with Shopify Plus.
  • Moven partners with Freelancers Union.
  • Check Point and IBM Security to share threat intelligence, announce product integrations.
  • TIO Networks ranks 2nd in top 10 tech companies on the 2016 TSX Venture 50.
  • Taulia launches global partner community, announces new partnerships.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: CurrencyFair, eToro, Fiserv, Misys, Ripple, Sparkroom, Taulia

On Finovate.com:

  • Former HP Exec Rob Binns Appointed New CFO at Misys.
  • Ripple Partners with SBI Holdings to Meet Demand in ASEAN Countries.
  • Sparkroom Acquired by Digital Media Solutions.
  • Finovate Alums Raise More Than $3 Billion in 2015.

Around the web:

  • United Nations Federal Credit Union ($4.3 billion in assets) to deploy DNA core processing platform from Fiserv.
  • Which.co.uk compares money transfer innovators like CurrencyFair to banks to find the best way to send money overseas.
  • eToro launches its first, major UK advertising campaign: “Take the Bull by the Horns.”
  • Taulia Wins GABA’s 2016 Startup and Innovation Award.

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.

 

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Ripple Partners with SBI Holdings to Meet Demand in ASEAN Countries

Ripple Partners with SBI Holdings to Meet Demand in ASEAN Countries
By Julie Muhn (@julieschicktanz) Posted on
Categories: Ripple

Yesterday, financial settlement services platform Ripple announced a partnership that will boost its expansion into a region where it has seen lots of local interest and growth potential.

The San Francisco-based startup has teamed up with financial conglomerate SBI Holdings to form a new company called SBI Ripple Asia.

As a part of the joint venture, SBI Holdings will launch an engineering and business development team to sell and install Ripple’s cross-border payments solutions for banks across the Asia region:

  • Japan
  • China
  • Taiwan
  • Korea
  • ASEAN countries

Australia-based Ripple APAC will continue to service Australia, New Zealand, Singapore, India and the Middle East.

Japan-based SBI, which has 5,000 employees and offices in 20 countries, is a good candidate for helping Ripple reach the new region. The company focuses on Asia’s developing countries and has established joint ventures with companies such as E-LOAN, E*TRADE, MorningStar, and Sumitomo Mitsui Trust Bank. SBI holds stakes in 10 financial institutions across ASEAN. Ripple plans to use this network to distribute Ripple Connect, the startup’s enterprise-grade settlement solution.

Ripple’s technology is a distributed global ledger that enables banks around the world to instantly transact with each other without the need for a central bank. The startup uses a distributed open-source payment network to create a distributed currency exchange.RippleConnect

Ripple Connect is a module that processes real-time international payments for banks. It connects the internal systems of financial institutions to the decentralized Ripple Consensus Ledger. It allows banks to exchange payment details before the payment is initiated and communicates with the network to get the lowest currency quote.

ripple_diagram

If you’ve ever chatted with Ripple CEO and co-founder Chris Larsen, or heard him speak, it likely wasn’t without hearing a mention of the internet of value (IOV), an internet for money that allows the free and instant exchange of anything of value. As Larsen once explained to me, it makes a P2P money-transfer as easy as emailing a link to an article.

Larsen calls up the concept in a comment on the SBI partnership: “Interbank payments establish the foundation of the internet of value. SBI is the perfect partner to help forge that foundation and then extend Ripple’s capabilities to new use-cases in the future.”

In what Larsen describes as the “kicker” of this deal, Ripple and SBI are exploring ways to list XRP through SBI’s various online brokerage properties.

Larsen launched the Ripple Network at FinovateSpring 2013 under the name OpenCoin. Since its debut, the company now claims:

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Finovate Alumni News

By David Penn Posted on
Categories: Asseco, Cachet Financial Solutions, Cloud Lending, Finhorizon, Insuritas, InvestGlass, investify, Markit, MX, myInvenio, Personal Capital, Ripple, Sandstone, Taulia, Xpenditure, Zopa

On Finovate.com

  • “Taulia Announces Record New Bookings; New CMO Holzapfel”
  • “MX Recruits Don MacDonald, Former Intel and Fiserv CMO”

Around the web

  • Cachet Financial Solutions deploys its Select Mobile Deposit solution for Kentucky-based Whitaker Bank Corporation.
  • UBS hires Markit to manage its Investment Bank’s investible indices.
  • The Hindu quotes Cloud Lending Solutions’ CEO and co-founder Snehal Fulzele on digital transformation.
  • Personal Capital launches Financial Fitness program for employers to help employees reach their wealth goals.
  • Zopa wins Personal Loan Provider of the Year at the Consumer Moneyfacts Awards 2016.
  • Bank Innovation features video of Ripple CEO Chris Larsen discussing the internet of value at Davos.
  • CB&S Bank selects Insuritas to power its insurance-agency solution for customers.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

 

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Finovate Alumni News

By David Penn Posted on
Categories: Alpha Payments Cloud, App Annie, D3 Banking, Finanteq, Fiserv, Hip Money, Markit, Prairie Cloudware, Quisk, Ripple

On Finovate.com

  • “Finovate Debuts: FINANTEQ Helps Innovative Banks Succeed in Mobile with SuperWallet”
  • Check out this week’s “FinDEVr APIntelligence”
  • “Union Bank & Trust Picks Prairie Cloudware’s Digital Payments Guardian to Power its Mobile Wallet”

Around the web

  • Iberiabank to deploy retail and SME platform from D3 Banking.
  • New savings app, Hip Money, featured in new video.
  • Fiserv and Alpha Payments Cloud team up to bring easier, faster payment processing to Australia.
  • Markit to begin using Amazon web services.
  • Earthport launches distributed ledger hub with single API access to Ripple.
  • Network International plans UAE deployment of cashless, cardless payment technology developed by Quisk.
  • TechCrunch: “App Annie Adds Support for Apple TV Apps, Including a ‘Top Charts’ Section”

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

 

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Ripple Technology Drives Invoice Trading Platform

Ripple Technology Drives Invoice Trading Platform
By David Penn Posted on
Categories: Ripple, Standard Chartered Bank

Ripple_homepage_technology_Dec2015

Remember this spring when Ripple’s $28 million series A round overshadowed same-day news of the company’s expansion to Asia?

This week we learned that distributed-ledger technology from Ripple is driving a blockchain-based invoice trading platform built by Standard Chartered Bank, DBS Bank, and the Infocomm Development Authority of Singapore.

Ripple_stage_FS2013

Ripple CEO Chris Larsen demonstrated the Ripple protocol at FinovateSpring 2013.

“This custom solution was the result of a collaborative effort by many industry players with a wealth of experience in trade finance,” Chris Larsen, Ripple CEO said. “It is also on the forefront of the trending use of distributed financial technologies in the Asia-Pacific region.”

The platform, currently in proof-of-concept stage, converts invoices into digital assets on a distributed ledger. Parties involved get cryptographic identities, which enables the invoice information to be shared by banks (for example, to avoid duplicate financing) without revealing identifiable information.

This last issue is significant enough for FIs. But other potential applications of distributed-ledger technology like Ripple are already being considered. Talking with GTReview, Standard Chartered’s Gautam Jain, global head of digitization and client access for transaction banking, says the technology can also be extended to other trade instruments, such as bills of lading. “We believe that the assembly of all the various documentation and processing stages involved in a trade transaction can happen on a distributed ledger,” Jain told GTR. He added that he thinks the platform, which took six months to develop, can be commercialized in 2016.

Founded as Open Coin in 2012 and rebranded as Ripple in October, the company demonstrated the Ripple network at FinovateSpring 2013. Ripple is headquartered in San Francisco.

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Finovate Alumni News

By David Penn Posted on
Categories: Azimo, Bento for Business, Braintree, Caaapital, Dwolla, Fastacash, FIS, Green Dot, Karmic Labs, Moven, PayPal, Prosper, Ripple, Silanis Technology, Toshl, TransferWise, Twilio

On Finovate.com

  • “Take Two: Toshl Launches Version 2.0 for iOS and Web”
  • “Ripple Technology Drives Invoice Trading Platform”
  • “Moven to Forgo Username, Password for 80% of Mobile Account Interactions”

Around the web

  • FIS launches new fintech accelerator in collaboration with Arkansas-based Venture Center.
  • Prosper Marketplace taps Kunal Kaul as its new EVP of Operations.
  • Newsfactor Business Report looks at prepaid debit cards for businesses offered by Green Dot, Karmic Labs, and Bento for Business.
  • eSignLive from Silanis Technology named a leader in digital transaction management by Aragon Research.
  • Azimo and TransferWise featured in The Telegraph as safe ways to give money during the holidays.
  • The Asset highlights Fastacash in a review of how fintech is changing finance in Asia.
  • Twilio Video now available to everyone in public beta.
  • PayPal’s Braintree now powers Facebook payments.
  • Dwolla introduces Dwolla.js javascript library that allows platforms to verify bank accounts and transfer funds without storing sensitive information.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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20 Alums Make the First Forbes Fintech 50

20 Alums Make the First Forbes Fintech 50
By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, Betterment, Braintree, Chain.com, Credit Karma, HelloWallet, Kensho, LearnVest, Motif Investing, Personal Capital, Plaid, Prosper, Quantopian, Ripple, Simple, TransferWise, TrueAccord, Uncategorized, Vouch, Wealthfront, Xignite

ForbesFintech502015

There’s more to the Forbes Fintech 50 list than just an awesome logo featuring George Washington wearing wrap-around shades. Forbes compiled the list by soliciting information from 300 startups, then interviewing more than 150 CEOs, founders, and industry experts. To make the cut, companies were required to have operations in the U.S. and a viable product.*

Simply put, Forbes describes the companies on the list as “small firms destined to have a big impact on your financial future and possibly upend your portfolio.”

This year, 20 Finovate and FinDEVr alums made the cut:

Algomi

  • Founded: 2012
  • HQ: London
  • Funding: $30 million
  • Customers: 14 large banks and 140 buy-side firms
  • FinovateFall 2014 demo

Betterment

Braintree

Chain

Credit Karma

HelloWallet

  • Founded: 2009
  • HQ: Washington, D.C.
  • Exit: Purchased by Morningstar in 2014 for $52.5 million
  • FinovateFall 2015 demo

Kensho

LearnVest

  • Founded: 2009
  • HQ: New York City, New York
  • Exit: Purchased by Northwestern Mutual in 2015 for $250+ million
  • FinovateFall 2013 demo

Motif

Personal Capital

Plaid

Prosper

Quantopian

Ripple

Simple

TransferWise

TrueAccord

Vouch

Wealthfront

Xignite

*While the list excludes financial giants, Forbes included startups acquired by larger companies but operating independently.

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Finovate Alumni News

By David Penn Posted on
Categories: ACI Worldwide, BankersLab, CAN Capital, Coinbase, Dwolla, Fenergo, Kony, Misys, Ripple, ThetaRay, TransferWise, Twilio

On Finovate.com

  • “CAN Capital’s CAN Connect APIs Now Offer iPayment Merchants Access to Funds”
  • “Lenny Loves Dwolla: Digital Payment Network Helps Bring Microloans to Millennials”
  • “BankersLab Closes on Undisclosed Amount in Angel Funding Round” Come to FinovateEurope 2016 to see their live demo.

Around the web

  • TransferWise chooses UP Framework from ACI Worldwide to enhance its ability to grow network and add payment types.
  • Fenergo launches its Data Integration Manager, integrates with Avox, Omgeo, and Clariet Global.
  • Pakistan’s Habib Bank (HBL) to implement FusionBanking Corporate Channels from Misys.
  • TechCrunch interviews CEO Jeff Lawson of Twilio.
  • ThetaRay CEO Mark Gazit talks about the cyber attacks of the future for Infosecurity Magazine.
  • Coinbase to offer volume-based rebates for trades placed on Coinbase Exchange starting next week.
  • Kony launches Mobile Field Service solution to help enterprises mobilize and modernize their field service operations.
  • Microsoft’s Azure blockchain-as-a-service partners with Ripple, now operating a Ripple validating node for Ripple’s bank users.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

 

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