Finovate Alumni News


  • Kantox Pulls in $6 Million from Existing Investors.

Around the web

  • Kasasa named a Best Place to Work in Austin for a third consecutive year.
  • PCF Bank partners with Sandstone to launch a digital origination and servicing platform.
  • Cloud Lending Solutions announces CL Portal, a new expansion of the CL Solution Suite.
  • PwC UK and Featurespace partner to provide clients with technology to combat financial crime attacks.

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.

Sandstone Technology Inks Digital Banking Deal with SBS Bank

Sandstone Technology Inks Digital Banking Deal with SBS Bank

Guess who’s getting a brand new digital banking platform?

Sydney, Australia-based Sandstone Technology is teaming up with SBS Bank to provide customers of the 148-year member bank with an “anywhere, anytime banking experience.” Fellow Finovate alum and Sandstone partner, Liferay, is also participating in the project, which will ultimately feature an online sales channel to “support the origination and fulfilment of Member applications for accounts and investments.” SBS Bank CEO Shaun Drylie highlighted Sandstone’s implementation, calling it “key” to moving the bank toward its goal of providing “a banking eco-system where we can seamlessly plug-in to a range of smart third party and/or self-powered digital services for our Members to consume.”

Pictured: Sandstone Technology’s Mathew Cagney (General Manager, Sales) and Sam Plowman (CEO) demonstrating BankFast Mobile App 2.0 at FinovateEurope 2016.

Founded in 1996, Sandstone Technology demonstrated the BankFast Mobile App 2.0 at FinovateEurope 2016. The company has 35 customers in Australia, Asia, Europe and New Zealand, and more than 400 deployments worldwide. Sandstone was featured in AustralianBroker earlier this year in an article about how ING used Sandstone solutions to increase efficiencies in the origination process. Last December, the company helped ME Bank launch its new internet banking service, built using Sandstone’s BankFast platform. We highlighted Sandstone as part of our look at fintech in Australia last year.

With assets of more than $2.5 billion, SBS Bank is a New Zealand-based bank founded in 1869. The first building society to earn bank registration while maintaining its mutual ownership structure, SBS Bank has 16 branches in New Zealand’s North and South Islands, and provides mobile mortgage managers in Auckland and Christchurch.

Finovate Alumni News


  • Sandstone Technology Inks Digital Banking Deal with SBS Bank.
  • Financeit Receives New Funding Capacity of $85 Million.


Around the web

  • Misys adds Synechron to its InFusion Partner Program.
  • Fiserv leverages robo-advisory and automation technology from fellow Finovate alum Trizic to enhance its wealth management solutions.
  • Bento Chief Operations Officer Sean Anderson discusses the future of regtech and the problem of one-size-fits-all compliance programs.
  • The 2017 NSS Labs gives Check Point Software Technologies a ‘Recommended’ rating.
  • Money Marketing features Scalable Capital.
  • City of Memphis to leverage to offer student loan debt reduction program for employees.

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.

Fintech Trending: Australia and the Road to Fintech in Asia

Fintech Trending: Australia and the Road to Fintech in Asia

australia_newzealand_flagsFinovateAsia 2016 is right around the corner. Be sure to visit our registration page and pick up your tickets today. We look forward to seeing you next week, 8 November, as Finovate returns to Asia.

When we talk about financial technology in Asia, we typically turn to places like Singapore, widely regarded to be the fintech “hub” of the region, or to Japan, with its advanced consumer economy (and increased participation in fintech events in the West, like Finovate and FinDEVr, or to China which was recognized by H2 Ventures and KPMG in their 2016 Fintech 100 report as follows:

China now tops the global ranks—swithin three years, China’s fintech ventures have gone from only one company included in the top Established 50 rankings in 2014, to this year China featuring four of the top five companies and eight of the top 50.

This includes Ant Financial, formerly known as Alipay, which as the world’s largest third-party payment platform, is the #1 company in the report, as well as Qudian, a Beijing-based student micro lender, ranked #2.

But there’s a reason why analysts refer to the area as the Asia-Pacific region, and part of that reason is the presence of countries like Australia and New Zealand which, while very much a part of the Asian financial ecosystem, are often overlooked in discussions about the growth of fintech in the area.

Turning back to the H2 Ventures/KPMG report, we see that of the top 100 companies highlighted, while 14 are from Asia, 1o are from Australia and New Zealand. This compares well with the U.K., a long-standing global fintech center, that landed 12 companies in the top 100. These companies include:

  • #14 Xero (F11; FD14) – New Zealand
  • #31 Prospa – Australia
  • #43 Tyro – Australia
  • #50 SocietyOne (F12) – Australia

As well as emerging stars:

  • AfterPay – Australia
  • Bright – Australia
  • Data Republic – Australia
  • HashChing – Australia
  • Identitii (F16) – Australia
  • springy – Australia

Australian and New Zealand fintech companies are clearly punching above their weight. As one illustration noted by Let’s Talk Payments, in December 2015, 5% of Australian fintech startups raised capital. Yet that 5% represented 14% of all capital raised by fintechs in December. Compare this to the United Kingdom where 15% of fintechs received investment dollars in December 2015, yet the amount raised was 11% of the total for that month. It is no surprise that China stands out as the true overachiever, with only 2% of Chinese companies raising capital in last December, but those companies represented 17% of all financing raised.

The takeaway here is more than a call for FinovateDownUnder—although that’s an intriguing idea. It suggests that more attention paid to Australia—as both a developing fintech nation in its own right, as well as a way for Western companies, technical talent, and capital to begin making its way eastward—could be well-rewarded.

See also:

  • 9 Australian companies have made it to the latest global Fintech 100 – Business Insider Australia
  • Australian FinTech Firms Recognized as World Leaders in FinTech – Cryptocoins News
  • Australian fintech founders recognized as world leaders next to tech giants Stripe, Xero and Square – Startup Smart
  • CBA takes pop-up innovation lab on a tour of Australia – Finextra

Our friends from Down Under

This discussion of Australia and New Zealand merits a reminder of how many innovators from Down Under are alums of our Finovate and FinDEVr conferences. In addition to those mentioned above, here’s a quick look at some of our more recent Australian and New Zealander alums:

FinovateEurope Sneak Peek: Sandstone Technology

FinovateEurope Sneak Peek: Sandstone Technology



FEULogowithDate    A look at the companies demoing live to 1,500 fintech professionals. Register today.


The Sandstone Technology BankFast Mobile App’s latest innovation combines the power of dual persona banking, leveraging context and location to deliver a dynamic, adaptive customer experience.


  • Frictionless banking: rich customer engagement and product origination
  • Dual persona banking: dynamic, adaptive customer experience
  • Adaptive security: using biometrics and distributed fraud management

Why it’s great
Sandstone delivers frictionless, dual persona banking. Its technology solves key customer-engagement issues through a unique mobile experience leveraging context and location to drive consumer engagement.


Sam Plowman, CEO, Sandstone Technology
Plowman is a digital industry leader and author with more than 20 years of experience building substantial, highly successful digital businesses in global companies such as Sandstone Technology, NAB and ANZ.

SandstonePresenter2Mathew Cagney, General Manager, Sales
Dedicated to the banking industry, Cagney draws upon his experience to uncover, develop and deliver revolutionary, digital transformation benefits to financial institutions globally.

Finovate Alumni News


  • 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.


Alumni News– December 1, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTechCrunch takes a look at PayPal’s plans for bitcoin integration.
  • Zopa to provide financing for Flowgroup customers.
  • Azimo introduces £1 money transfers to Lithuania.
  • MasterCard announces launch of MasterPass in UAE.
  • Call capture technology from NICE Systems now compatible with Speakerbus iTurrent dealer board.
  • FreeAgent named “Practice Software Product of the Year” at 2014 British Accountancy Awards.
  • Zopa takes additional step to authenticate users.
  • Adelaide Bank signs Sandstone Technology to deliver new loan origination system.
  • Check Point Software launches Check Point Capsule to protect business data and mobile devices, everywhere.
  • Crain’s Cleveland Business features Segmint in the hot fintech market.
  • Maybank Singapore updates Tagit-powered mobile banking app.
  • Bank Technology News Report: TD Bank to Use Moven’s Money Management Software.
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.

Sandstone Launches SmartBank, A Next-Generation Consumer Banking Solution

Thumbnail image for SandstoneLogo.jpg

Second, Sandstone launched its SmartBank:

“Sandstone is showcasing its ‘next generation’ consumer banking solution combining internet and mobile banking, personal financial management, and loan origination capabilities to form a powerful end-to-end customer acquisition and retention tool. 

Building on the “anytime, anywhere” capabilities of emerging tablet and smartphone platforms, we will show how consumers can interact with their bank for a range of integrated banking services.”

Product Launch: November 2012
HQ: Sydney, Australia
Founded: June 1996
Metrics: Sandstone is a rapidly growing privately owned company with offices in Australia, Asia, and Europe. The company has grown from 40 employees in 2007 to over 230 employees in 2012.
Finovate demo video: Demo videos will be posted next week
Introducing Ray Yap (Product Manager) and Adrian Leow (Product Manager)


FinovateAsia 2012 Sneak Peek: Part 1


For our first ever FinovateAsia conference, we’ve selected 36 leading innovators to take the stage in Singapore on November 6.
Each company provided a sneak peek of what they’ll demo next month. Below is the first installment of these teasers. We’ll have more next week.
Don’t miss your chance to see the live demo from each company and be a part of our inaugural FinovateAsia conference. Get your ticket here.

Thumbnail image for BankersLabLogo.jpg

Airline pilots train in flight simulators, known to be one of the most effective training methods. After the financial crisis, isn’t it about time your risk managers have access to the best training techniques?
BankersLab offers training products designed to enhance a banker’s ability to develop and test strategies in a range of real-world market conditions. Utilizing a blended learning model, BankersLab integrates numerical simulations, scenario games, the gamified classroom, and m-learning for optimal understanding and knowledge retention. 
BankersLab’s comprehensive suite of products suits all skill levels; ensuring your teams are the best trained in the industry.
Innovation type: Cards, lending, payments


BellaDati launches BellaDati agile analytics and reporting cloud tool for financial data analysis. 
BellaDati reinvents the way business users can interact with data. BellaDati will introduce features like GEO analytics, mobile reporting BellaDati Piccolo or social network for business data analysis. All this topped with easy connectivity to various data sources. Stay tuned to the new wave of business analytics inspired by gorgeous Isola Bella island located close to the Sicilian coast. 
Innovation type: Back office, mobile, sales


Bank lending to thin-and no-file small businesses in emerging markets is a billion dollar opportunity – yet traditional lending requirements make it inefficient and expensive. EFL’s Credit Screening Tool, which uses non-traditional data such as psychometric principles that statistically relate entrepreneurial qualities such as intellect, business acumen, ethics, attitudes and beliefs to credit screening, makes lending scalable and profitable. 
EFL will show how seamlessly its partners have integrated Credit Scoring Tool to their existing lending processes to increase their loan portfolios by over 100% and decrease defaults by over 40%.

Innovation type: Banking, identity, lending


Fiserv will demonstrate its world leading mobile banking platform – Mobiliti – used by over 1,000 banks and credit unions around the world. The focus on the demo will be on Mobiliti Reach – a product to help banks profit from servicing underbanked and unbanked market segments.
Innovation type: Back office, mobile, payments


Heckyl FIND is a simple and yet powerful platform which integrates real time news, analytic, and sentiment mining in your trading terminals.
Heckyl FIND provides the first and a very powerful enterprise social trading terminal enabling your analyst to collaborate in real time with Traders, exchange great ideas, trading insights and empower your Traders with all the information to take the next action, here on Heckyl Dashboard.
Heckyl FIND is exclusively for financial institutions, brokerages and the trading community to get access to real time trading ideas, research reports, economic alerts and much more.

Innovation type: Investing, online UI, PFM


Innovation Café is an advanced crowdsourcing innovation platform for companies to engage their innovation communities. It is highly configurable and able to provide for both private and public ecologies, as well as emergent and structured innovation approaches. 
Innovation Café is a lightweight platform with advanced white labeling, and custom theme capabilities. It has the ability to integrate with different systems and provide detailed reporting. Crowdsourcing and community collaboration are used to focus the attention on business objectives, enhanced through idea challenges.

Innovation type: Banking, mobile, online


Get peace of mind knowing that your company’s financial mobile app is secure. Metaforic technology stops malware and hackers in their tracks. See live, an attempted malware attack on a mobile app and the technology that st
ops it.
Innovation type: Security


With fewer people going to branches due to the convenience of internet, it weakens banks’ ability to acquire, develop a face-to-face personal relationship and recommend relevant products to their customers. 
Users are also spending very little time on internet banking due to a very transactional “touch-and-go” behavior. So how do you get the right customized products to the right customer at a time when they most need it?
Innovation type: Marketing, PFM, rewards

Thumbnail image for SandstoneLogo.jpg

Sandstone will be showcasing its ‘next generation’ consumer banking solution combining internet and mobile banking, personal financial management and loan origination capabilities to form a powerful end-to-end customer acquisition and retention tool.
Building on the “anytime, anywhere” capabilities of emerging tablet and smart phone platforms, Sandstone will show how consumers can interact with their bank for a range of integrated banking services.
For example, we will demonstrate the customer’s experience of finding and purchasing a new home, including property suggestions based on their savings, property selection, valuation, credit assessment and loan approval – all in real time from any device
Innovation type: Lending, marketing, PFM

Thumbnail image for strandsFinanceLogo.jpg

Strands Finance is presenting new “What If” functionality that takes PFM historical data and makes it relevant for the future. Users will gain greater insight and control of their financial health with little to no effort. 
For banks, the data is invaluable to better advise their customers. Strands has developed and leveraged pattern identification algorithms that help model future scenarios and the impact to the user’s short-term cash flow to long-term net worth.
Innovation type: Mobile, online, PFM


The 21st century customer is all about the experience. 
To be ahead of competition, retailers and banks need to drive revenue through new channels and differentiate themselves through unique customer experiences to build loyalty. With the combination of time, relevance, and behavior, TIBCO offers an integrated solution linking the end-users, retailers and banks – anytime, anywhere.
Innovation type: Mobile, payments, rewards

Thumbnail image for Thumbnail image for Thumbnail image for WiproLogo.jpg

Wipro will debut its Wipro SmartOffers solution at FinovateAsia 2012. The innovation provides bank customers with Digital Offers which can be redeemed at merchants for availing benefits/discounts at the time of purchase. These offers may be merchant-or-bank-funded at the bank’s preference. 
The solution is different from the aggregator-centric models currently in practice in the market, championing the bank centric offer model. Wipro’s solution gives the power back to the banks, by making them the center of the Digital Offers Universe. By making the entire offer landscape bank-centric, banks reap the benefits hereto left for aggregators.
Innovation type: Banking, rewards

Sandstone Launches Mobile Banking App

Thumbnail image for SandstoneLogo.jpg

Next, Sandstone showed how even small financial institutions can have a presence in the app store:

“Sandstone will be showcasing its next generation mobile banking app that contains sophisticated money management/ OFM tools, the latest anti-fraud and security measures, and advanced user experience capabilities. 

Using the latest html5 technology, the app can be developed once and then delivered seamlessly across many of the popular smart phone app stores to run on nearly all smart phone devices. The registration process for the app locks the user to the device while page-fingerprinting technology ensures that fraudulent users will not be able to connect to the secure server.”

Product Launched: February 2012

HQ Location: Sydney, Australia

Company Founded: June 1996

Metrics: Privately owned, offices in Australia, Asia and Europe The company grew from 40 employees in 2007 to over 200 employees in 2011. 

Presenting Dom Monty (General Manager, Direct Banking Solutions) & Timmy Alassad (Product Manager, Direct Banking Solutions)

Backbase Partners with Sandstone to Market Bank 2.0 and Forms Technology

Thumbnail image for BackbaseLogo.jpg

Portal software startup Backbase announced today that it partnered with Australia-based Sandstone:

“Backbase provides powerful WebThumbnail image for SandstoneLogo.jpg2.0 e-business technology that will underpin Sandstone’s next generation online banking solutions…. Backbase Forms will enable Sandstone BankFast customers to easily create and edit forms for customer-facing business applications.”

Sandstone will market the Backbase Bank 2.0 and Forms technology throughout Australia and New Zealand.

To learn more about Backbase and Sandstone, come to FinovateEurope February 7 in London or watch Backbase’s FinovateFall 2011 demo.

FinovateEurope 2012 Sneak Peek: Part 1


Right now, over three dozen leading fintech companies, both hot young startups and established players, are gearing up to demo their latest innovations at the second annual FinovateEurope next February 7th in London.

To whet your appetite, we asked each handpicked company to provide a sneak peek of what it will be demoing on stage. Below is the first installment. We’ll have another installment next week.

Don’t miss your chance to see fast-paced demos of the newest ideas from each company and meet the execs responsible for the cutting-edge of innovation in financial and banking technology. Plus get your FinovateEurope ticket before December 23rd and you’ll lock in the early-bird price!



AcceptEmail will launch a revolutionary way of billing and collecting. The inventor of billing and payment via email will introduce AcceptSMS, the world’s first Short Invoice Service. 
With this technology, AcceptEmail users will be able to send payment requests to a smartphone or PDA via SMS, WhatsApp Messenger or social media in an easy and clever way. Improve your customers’ payment behavior by offering multi-channel and customer friendly payment methods.
Innovation type: Communications, mobile and tablet UI, payments


Find out more about a solution that Raymond James has already adopted to give its investment advisors authenticity on social networks. It also generated a $1 million prospect for another wealth management firm after just 96 tweets.  
Actiance will also demonstrate how you can measure and analyse your network growth to accurately plot your social graph.
Innovation type: Communications, marketing, security


Brokertainment combines the fun and thrill of stock market trading with a reduced risk due to extremely low minimum investments (1 euro) and ultra-short term durations of derivatives (around 5 minutes). 
Brokertainment will present a new product called STOCKBATTLE.
Innovation type: Investing and asset management


Business Centric Services Group (BCSG) will present an exciting new credit management tool to the SME market, which will break down the traditional barriers of cost, complexity and awareness. 
BCSG has identified a customer need for this product through research, which highlighted that over half of small businesses never run credit checks on new customers, and just under half do not monitor their existing customers and suppliers.
Its innovative tool allows complex information to be delivered in a simple and usable format, ensuring the best possible end-user experience. 
Innovation type: Banking products, online UI, small business

Thumbnail image for ETRONIKALogo.jpg

Almost all banking today is being done in digital space. Why not communicate with computers in a natural way, as we do in the real world? 
Imagine a financial application that recognizes your face, congratulates you, analyzes your voice to identify you, and navigates you in online banking. You choose what is most convenient for you at that time: using your voice, gestures, keyboard, or a mix of all the approaches. You are smiling. 
Motion and speech belong to the game world or laboratory geeks– not to online banking solutions that refer to a serious, unshakable, respectable realm. ETRONIKA wants to challenge this point of view by introducing a new UX approach to financial online services.
Innovation type: Banking, identity, online UI


InvestorBee puts data at consumers’ fingertips so they can make smart, confident investments.
    • It’s fact, not opinion. Users can tap into the database to learn from the experiences of over a million UK investors.
    • It’s an investment health check. Users can compare themselves to their peers to set realistic saving targets and investment goals.
    • It’s simple investing without guesswork. In a few easy steps, users can choose an objective risk-based strategy that’s right for them.
InvestorBee users extract wisdom from the crowd to make better, simpler investment decisions.
Innovation type: Investing and asset management, PFM

Thumbnail image for FiservLogo.jpg

Fiserv will demonstrate its next generation mobile P2P, small business an
d eCommerce merchant payments. As an international provider of digital banking and payment solutions, Fiserv delivers market-proven capabilities with innovations in both the mobile and online channels.
Innovation type: Mobile and tablet UI, online UI, payments

Thumbnail image for INDGroupLogo.jpg

IND Group gamified its white-label Internet Banking and Personal Finance Manager. It added these methods to its new Banking-Front Office. The solution is based on the fact that customers love to do almost anything if they are rewarded for it. 
With the two-level point system, banks can give points for things like function use, transactions, and product or service purchases. Customers can collect points and badges for dedicated actions. The system is closely connected with Facebook, where users can post their results and badges. With its strong visualization features and real rewards, the gamified IND Internet Banking and Personal Finance Manager creates a compelling, engaging user experience.
Innovation type: Online UI, PFM, rewards


Luup will launch a mobile payment service for corporations and governments that is set to bring them cost-savings, efficiency and productivity gains. The service solves one of the biggest daily challenges that organisations face worldwide. 
Through an interactive live demo from various mobile devices, Luup will showcase how the new service is a fast, convenient and secure way to optimise processes. Attendees will experience how Luup solutions are unique in being universally deployable, bank-grade, live and proven– as well as scalable and easily managed.
Innovation type: Mobile and tablet UI, payments


miiCard, My Internet Identity, is the first service that allows a consumer to prove their identity to the AML/KYC standard purely online.
Through miiCard, a vendor can identify an individual to a level of assurance that supports real-time online sales of regulated financial products, and replaces the need for a ‘wet signature’ reducing operational costs and increasing conversions. 
miiCard creates trust, protects consumers and fights against fraud. It helps realize the full potential of the digital economy by enabling higher value online business.
Innovation type: Identity, payments, sales and customer service


Sandstone will be showcasing its next generation mobile banking app that contains sophisticated money management/ OFM tools, the latest anti-fraud and security measures, and user experience capabilities that enable financial institutions to better engage with their customers.
Using the latest HTML5 technology, the app can be developed once and then delivered seamlessly across all smart phone app stores to run on any smart phone mobile device. The registration process for the app locks the user to the device while the page-fingerprinting technology ensures that fraudulent users will not be able to connect to the secure server.
Innovation type: Banking, PFM, security


Service2Media and Rabobank will introduce mobile payments via a banking app for all webshops. Customers of Rabobank that have installed the Rabobank Mobile Banking app can now pay for their mobile purchases as easily as their online purchases by using a mobile version of the online payment method IDEAL
The new mobile IDEAL payment is facilitated by starting the Rabobank Banking app on an iPhone once a payment request is issued on the merchant’s mobile site. The user then authorizes the transaction in the app with his account number and access code before being redirected to the merchant’s mobile site. Mobile banking is now possible without an e-reader as long as the balancing account is known.
Innovation type: Banking, mobile and tablet UI, payments


Securing M-Banking
The advancement of technology is making our lives easier. Mobile banking, or m-banking, is here and with 800,000,000 smartphones already in circulation globally, it is going to grow. But how do we make m-banking safe and practical to use? You can’t hold your smartphone in one hand and your bank secure key in the other when walking down the street – that’s not “making our lives easier”.
A much simpler solution is using out-of-band, real-time, multi-factor authentication and transaction verification. ValidSoft will demonstrate how its products can do just that.
Innovation type: Identity, payments, security

Thumbnail image for WiproLogo.jpg

One of the primary tools direct sales agents need is a tablet variant of the unified desktop. Wipro has developed a customer acquisition framework on a tablet-based device, which is a step in this direction. 
CAMS on Tablet leverages mobile, analytics and intelligent processes for on-the-go pe
rsonalized offers and application capture. The solution is also relevant in next generation bank branches where a differentiated environment is created for HNI customers.
Innovation type: Mobile and tablet UI, PFM, sales