Finovate Alumni News

On Finovate.com

  • Hydrogen, TD Bank Partnership Drives DIY Financial Planning.

Around the web

  • Hackney London Borough Council leverages technology from OutSystems to enhance its digital services.
  • NCR inks partnerships with a trio of credit unions: Parsons FCU of California, Educators Credit Union of Texas, and AERO FCU of Arizona.
  • Anorak to provide life insurance advice to users of money management app, Yolt.
  • SaleMove wins top honors at Orion Advisor Services’ Ascent/FUSE 2018 conference. See SaleMove at FinovateFall in New York September 24-26.
  • Varo Money to deploy Temenos’ T24  core banking platform.
  • Digital lending platform Roostify announces its app is now available on the Salesforce AppExchange.

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

  • Standard Chartered Pilots Blockchain-Based Trade Guarantees.
  • Digital Onboarding to Enhance Customer Experience for Mariner’s Bank.

Around the web

  • NICE introduces Proactive Fraudster Exposure functionality to its Real-Time Authentication solution for call centers.
  • The Paypers features Onfido CEO Husayn Kassai on the role of technology in the transformation of UX.
  • Co-founder and CEO of comScore, Dr. Magid Abraham, joins Roostify’s board of directors.
  • AlphaPoint integrates with VerifyInvestor.com to provide clients with a new option for compliant investor onboarding.
  • Fortytwo Data opens its first international office in Kiev, Ukraine.
  • Insuritas to launch digital insurance agency platform for Eagle Community CU.
  • Quadient listed as a Top Customer Journey Mapping Vendor in Ovum Report.

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.

Roostify Enhances Customization with New Adapt Tool

Mortgagetech company Roostify announced the launch of Adapt, a tool for mortgage lenders, this week.

Adapt helps lenders who have complex workflows achieve process management without disrupting their primary and secondary digital lending accounts. The feature enhances Roostify’s hierarchy tools, allowing lenders to create child accounts that follow a business unit structure, while at the same time allowing others on the mortgage team to maintain productivity across those business units.

Sarah Boultinghouse, business architect and process improvement manager at Roostify client, Colonial National Mortgage, said that the feature simplifies implementation on one of the mortgage company’s most complex business channels. “In an account structure that supports hundreds of accounts, this enhancement has been a critical factor in our continued implementation success, providing both user and admin friendly functionality to navigate through accounts with ease, further enabling our ability to deliver a superior customer experience,” she explained.

Adapt is available as a part of Roostify’s enterprise lending platform. The tool increases flexibility, helping streamline the lending process increase collaboration, ultimately decreasing costs and time-to-close.

Roostify presented at FinovateSpring 2016 where the company demoed account aggregation capabilities for asset verification, as well as integrations with TurboTax and Equifax. The California-based company started off the year by raising $25 million, bringing its total funding to $33 million.

Finovate Alumni News

On Finovate.com

  • Payworks to Fuel New Point of Sale Tool for Bambora.
  • Roostify Enhances Customization with New Adapt Tool
  • Check out today’s FinovateFall Sneak Peeks:

Around the web

  • Seasons FCU selects online and mobile banking technology from Bankjoy.
  • Customer experience specialist Truphone partners with Verifone.
  • AlphaPoint taps Sri Manda as its new Chief Information Security Officer.
  • RegTech Supplier Performance Report ranks Trulioo’s GlobalGateway as top ID verification tool for third consecutive year.
  • Telenor pioneers Norwegian Open AI Lab.
  • WSJ features LendUp’s focus on subprime lending.
  • Diebold Nixdorf hires advisers to seek a sale.

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

  • Coinbase Makes Buying Crypto Easier, Faster for U.K. Customers.

Around the web

  • NuData Security embraces EMV 3-D Secure authentication.
  • Entersekt partners with Mastercard to enhance payment options for users of the Nedbank Money app.
  • StockTwits launches Rooms, a chat platform where users create new communities based on shared interests, specific stocks, or market trends
  • COCC leverages Segmint to offer data-driven marketing solutions for bank clients.
  • Roostify announces new Chief Financial Officer Eric Amblard, formerly of EverString Technologies.

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

  • OnDeck Scores $93 Million in Two Credit Facilities.
  • P2Binvestor Teams Up with Amalgamated Bank to Help SMEs Get Funded.
  • The ID Co. Unveils Open Banking API Platform.

Around the web

  • Carte Wealth Management to deploy advisor engagement platform powered by BlueRush.
  • CREALOGIX wins Best Web Front End Solution at the 2018 Systems in the City Awards for fintech in banking and wealth management.
  • Technology from Cognizant and Temenos helps Julius Baer complete core banking modernization.
  • Coinbase correction: No SEC approval received for acquisitions.
  • BehavioSec’s behavioral biometrics platform fulfills critical requirements achieving Payment Services Directive 2 (PSD2) compliance.
  • Roostify partners with Colonial National Mortgage to provide customers with a simple and intuitive online mortgage experience.

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

  • Sberbank in Slovenia Partners with Open Banking Platform Provider Token.
  • Equifax Acquires DataX to Promote Financial Inclusion.

Around the web

  • Wirecard and Mastercard collaborate to make contactless payments using wearable technology more accessible.
  • Roostify expands leadership ranks with new Chief Customer Officer, new VP of Sales, and new General Counsel.
  • VyStar Credit Union ($7.6 billion in assets) to upgrade core banking solution with technology from FIS.
  • Hyperwallet to provide mass payment distribution for content processing platform, Wordapp.com.
  • Premier America Credit Union ($2.5 billion in assets) to deploy core processing technology from Jack Henry & Associates.
  • Santander integrates nCino’s Bank Operating System.
  • Carte Wealth Management to launch advisor engagement platform powered by DigitalReach from BlueRush.
  • TechCrunch reports: Coinbase Reportedly Gets Approval from US regulators to Start Listing Tokenized Securities.
  • Ephesoft releases new Swagger/OpenAPI-web services for Ephesoft Transact.

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.

Roostify Partners with BOK Financial to Improve the Mortgage Lending Process

BOK Financial, a regional financial services company based out of Tulsa, Oklahoma, has teamed up with digital lending platform Roostify to improve the home buying process for customers and give lenders access to technology that will make it easier to process loans.

“The technology investment complements BOK Financial’s increase in purchase loan production across the company’s eight-state retail footprint as well as the consumer direct channel over the past year,” BOK Financial Mortgage President Glenn Brunker said. “The bank is leveraging Roostify’s dynamic technology to deliver a unique offering to both the employee and customer in the different markets and channels. This will affirm our commitment to the implementation of a streamlined digital experience for our customers.”

Crediting the mortgage lending industry for its willingness to “embrace new technology,” Roostify CEO and co-founder Rajesh Bhat said, “This gives BOK Financial’s loan officers the opportunity to better manage an already complicated task of juggling financial documents and progress notifications between multiple parties. Home buyers benefit from a better experience from application to closing.”

The new platform will enable customers to begin an application, add documentation, and follow their loan’s progress online. Loan applicants will be able to securely upload, send, and receive loan documents, as well as provide access to others involved in the transaction – such as their real estate agent. The solution will allow loan officers to spend less time processing paper documents and making repeated follow-ups with customers and instead give them more time “to get the loan into processing much faster and keep it moving forward more easily” in the words of  John Yancey, a loan officer familiar with Roostify’s technology who was quoted in the partnership announcement.

Headquartered in San Francisco, California and founded in 2014, Roostify demonstrated its platform at FinovateSpring 2016. The company’s digital home lending platform helps banks, independent brokerages, and lenders close loans faster, reduce paperwork, and provide a superior, friction-free mortgage experience. Last month Roostify was honored at the MBA Insights 2018 Tech All-Star Awards for its achievements in mortgagetech. In March, the company added Mark McLaughlin as Senior Vice President for Business Development and in February, the company picked up an investment of $25 million, taking its total capital to $33 million. Roostify began the year announcing an integration with online lending marketplace and fellow Finovate alum, LendingTree.

Finovate Alumni News

On Finovate.com

  • Roostify Partners with BOK Financial to Improve the Mortgage Lending Process.
  • WealthSpark Replaces the Personal Capital 401(k).

Around the web

  • NopSec named most innovative tech company of the year by 2018 American Business Awards.
  • Bill.com appoints Yael Zheng as Chief Marketing Officer.
  • Myawaddy Bank in Myanmar selects Infosys Finacle to power 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.

Blend, Roostify Earn Honors at MBA Insights 2018 Tech All-Star Awards

The Mortgage Bankers Association’s annual Insights 2018 Tech-All Stars have been named and this year a pair of Finovate alums  – Blend and Roostify – are among those recognized for their achievements in mortgagetech.

“Technology is driving remarkable innovations and efficiencies in real estate finance,” MBA Vice Chairman Brian Stoffers said. “MBA is pleased to recognize the men and women making significant technological contributions to the mortgage industry.”

Also earning recognition from the MBA at its Technology Solutions Conference & Expo earlier this week were Land Gorilla, Docutech, Notarize, and ReverseVision. The six winners were chosen from a nomination pool of 40 mortgage tech companies, the largest number of nominations since the awards were founded in 2002.

“Our Technology All-Stars are designing tools that disrupt the industry, but also make us smarter,” Stoffers added. “They are the ones providing us both faster and safer mortgage business tools to advance our industry. We call the Tech-All Stars the unsung heroes of the industry because much of what they do takes place behind the scenes – but we could not survive or move forward without them.”

The All-Stars honors were a first for both Finovate alums. Earlier this year, Roostify made fintech headlines when it announced picking up a $25 million investment. The Series B round featured participation from new investors Cota Capital, Point72 Ventures, and Santander Innoventures, as well as existing investors JP Morgan Chase, Colchis Capital, and a subsidiary of USAA, and boosted Roostify’s total capital to $33 million. The company said the funds would be used to expand its presence in the enterprise, pursue product enhancements, and seek opportunities in new markets.

Roostify demonstrated its technology at FinovateSpring 2016, showing how its SaaS solution enables lenders to offer a consumer-focused, mobile-friendly experience for borrowers from application to close. The company began the year with news that it was integrating with online loan marketplace and fellow Finovate alum Lending Tree, and has since added Adnan Habib as Vice President of Engineering and Mark McLaughlin as Vice President for Business Development.

Roostify was founded in 2014 and is headquartered in San Francisco, California. Rajesh Bhat is CEO and co-founder.

Newly named to Forbes Fintech 50 list, mortgagetech innovator Blend was founded in 2012 and is based in San Francisco. The company, which demonstrated its Data-Driven Mortgage solution at FinovateSpring 2016, leverages intuitive design and data-powered intelligence to help lenders originate loans more efficiently and improve customer engagement. By making it easier for home buyers to provide lenders with the right, accurate information and streamlining the follow-up process for lenders, Blend’s platform enables application decisioning within days rather than weeks.

Last fall, GoBankingRates featured Blend in its look at 10 Startups to Watch in 2018 roster, and Forbes profiled the company in a feature titled “Blend Wants to Bring the $2 Trillion Mortgage Market to the Modern Era.” Blend has raised more than $160 million in funding, and has an estimated valuation of $500 million. Nima Ghamsari is CEO and co-founder.