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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
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.
Stratifydexpands workforce by 200 people, moves to a new 30,000 square-foot office.
Lendionamed to MountainWest Capital Network’s 2019 Utah 100 List.
Square leveragesDriveWealth’s trading API to compete with the likes of Robinhood.
Signicat now offers identity verification in 208 countries through identity document scanning, web-based video interviews, and NFC scanning of passports.
SpareBank1 to leverageMinna Technologies to help customers cancel their unwanted subscriptions.
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.
Thought MachineHelps Standard Chartered Launch Digital Bank in Hong Kong.
OurCrowdTeams Up with Toyota in Search for Tech Talent.
Saving for What Matters: A Q&A with INSPIRAVE Founder and CEO Om Kundu.
Around the web
FinovateFall Best of Show winner Cinchyearns $500,000 cash prize as one of the winners of the 2019 VentureClash competition.
Signicatunveils new capabilities, including a new technical interface and new third party integrations, that extend the reach of its digital identity verification technology.
Arkose Labs VP of Marketing and Strategy Vanita Pandey and Senior Producer Hedda Peters winWomen in Cybersecurity honors at the Cyber Defense Global Awards sponsored by Cyber Defense Magazine.
nCinopartners with Seacoast Bank ($8.6 billion in assets).
iProovearns a finalist spot in the 2019 Go:Tech Awards.
Compliance and risk management firm Middesk brings its business verification tool to the Dwolla Partner Ecosystem.
Ping Identityadds to its North European operations with a new office in Utrecht, Netherlands.
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.
Fiservunveils its new mobile bill presentment solution.
Digital identity solutions company Signicatacquires Norway’s Idfy.
Blackhawk Networkannounces payments industry veteran and former InComm executive Mark Singer as its new APAC Managing Director.
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.
ACI Worldwidemakes strategic investment in Indian digital payments company Mindgate Solutions.
Currencycloud and VISAforge partnership to fuel innovation in cross-border and travel payments.
Trulioopartners with Refinitiv to improve access to digital identity solutions.
German open digital identity scheme yes.com to integrate into Signicat’sDigital Identity Platform.
Splititappoints former Intuit and PayPal Exec to lead North American operations.
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.
Identity assurance provider Signicat has been acquired by private equity investor Nordic Capital, which hopes to accelerate the company’s international expansion. Financial terms of the agreement were not disclosed.
Fredrik Näslund, Partner at the Advisor to the Nordic Capital Funds, said Signicat “has shown consistent high growth since inception, driven both by a rapidly increasing number of customers and strong volume growth among existing customers.” He added that the company’s “highly experienced management team is well positioned to capitalize on enormous growth opportunities across geographies, customer verticals and products, as the digital transformation of the economy continues.”
Nordic Capital acquired Signicat from Secure Identity Holding, Viking Venture III, and other shareholders. Viking will re-invest proceeds from the deal, making it a minority owner.
Signicat’s digital identity solutions make customer onboarding faster, more secure, and compliant with privacy and data protection regulations by replacing paper-based processes. At FinovateEurope 2017, the company showcasedSignicat Assure, a digital identity verification product; and Signicat Sign, an e-signature offering.
Gunnar Nordseth, CEO and Co-Founder of Signicat, referred to Nordic Capital as “the most prominent and experienced investors” in fintech and said that the company is the “perfect partner” to support Signicat’s international expansion strategy.
Founded in 2007, Signicat’s 115 employees across offices in Norway, Sweden, Finland, Denmark, the U.K., Germany, the Netherlands, and Portugal serve 500 clients including Klarna, Rabobank, Santander, Société Générale and Western Union, BMW, and Konica Minolta. Prior to today’s announcement, Signicat had raised almost $9 million.
NutmegSays No to IPO, Opts for Crowdfunding Instead.
Around the web
Ledgerintegrates with Cardano’s ADA and Yoroi Wallets.
Insuritaspartners with SouthEast Bank to launch bank-owned digital insurance agency platform.
Adobeunveils Commerce Cloud, a customizable and scalable platform to manage, personalize, and optimize the commerce experience.
SigFigunveilsSigFig Atlas, a financial advice and software-guided sales platform.
InComm and WH Smith launch in-store, online hubs for game cards in the U.K.
UBankintegrates Watson into its customer service offerings with RoboBrain, a Watson-enabled virtual assistant.
Token.io and Konsentus launch fast PSD2 compliance solution by combining a PSD2 API with automated TPP verification.
Verimi and Signicatpartner to deliver verified digital identity solution for European enterprises.
HooYu to provide ID verification for esports betting platform, Luckbox.
Qoverearns a spot on Programmable Web’s list of 13 Notable Insurance APIs.
WRAL Tech Wire featuresSpreedly in a look at local technology companies.
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.
Ocurrency interviews Radoslav Albrecht, Founder & CEO of Bitbond.
Insuritaspartners with Sound Community Bank to launch bank-owned digital insurance agency platform.
Bill.compartners with First National Bank of Omaha (FNBO) to offer enhanced digital business payments solutions.
Lighter Capital’sinvestment in Springboard Retail reaches $1.1 million.
Provident Bank choosesGro Solutions to boost mobile-first user-experience and drive account growth.
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.
OutSystemsannounces its partner of the year awards.
A €5.5 billion independent French bank will deployAmbit Focus, a regulatory reporting as a service solution from FIS.
eToroinvests $1 million into cryptocurrency experiment, GoodDollar, designed to reduce wealth inequality.
Dell Small Business’ BetaKit interviewsFinn.AI co-founder and COO, Natalie Cartwright.
Signicatlaunches new B2B document signing solution, Signicat Business Signature.
Backbasenames Capgemini its Global Solution Partner of the 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.
Signicatintegrates Belgian digital identity scheme, itsme, into its platform.
Australia’s Bendigo and Adelaide BankselectsOneSumX from Wolters Kluwer for regulatory reporting.
Fiservinks deals with Sioux Valley Community CU and Coulee Dam FCU based in Iowa and Washington state, respectively.
Payfonecollaborates with Canadian telecom EnStream to develop mobile federated authentication service.
Indiana-based Elements Financial Credit Union ($1.5 billion in assets) to deploy digital sales platform from Gro Solutions.
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.
NetSuite namesExpensifyInnovation Partner of the Year.
Passporthires its first Chief Corporate Development Officer.
Signicat to offerFreja eID for customer onboarding thanks to partnership with IT security firm, Verisec
Equifaxappoints former IBM Watson and Cloud Platform CTO Bryson Koehler as its new Chief Technology 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.
Identity assurance provider Signicat and digital identity verification company Mitekpartnered to improve the onboarding experience for end customers while helping banks comply with new regulations.
The two teamed up to create a solution specifically for European-based financial services providers, who are facing a handful of new and ever-changing regulations, including PSD2, AMLD5, and eIDAS. The new tool, available in Signicat’s Digital Identity Platform, integrates Mitek’s Mobile Verify solution to authenticate identity documents presented during a remote, mobile onboarding process. To comply with AML and KYC regulations, Mitek’s Mobile Verify captures an image of the identity document to ensure its authenticity.
“Partnering with Mitek enables us to jointly offer European financial services institutions a customer on-boarding solution that is 100% online,” said Gunnar Nordseth, CEO at Signicat. “The partnership is designed to remove friction from the customer on-boarding process to ensure financial institutions can effectively compete in the marketplace.”
Nordseth also noted that Signicat clients can now simultaneously benefit from Mitek’s Mobile Verify solution, as well as Signicat’s secure authentication, electronic signing, and sealed document archival. Signicat also offers an eID hub, which consists of a wide variety of third party eID providers covering regions all over the world.
Founded in 2007, Signicat demoedSignicat Assure and Signicat Sign at FinovateEurope 2017. Assure combines national e-identities, commercial e-identities, and multiple other methods that offer a fast way to verify the customer’s identity for onboarding. Sign is a digital signature solution that ensures the origin and integrity of the document while maintaining non-repudiation from the sender. In January of this year, the company closed a $2 million funding round, bringing its total financing to $3.9 million.
Mitek is publicly traded on NASDAQ under the ticker “MITK” with a market cap of $307 million. Mitek was founded in 1985 and is headquartered in San Diego, California. The company most recently demoed its MobileVerify solution at FinovateFall 2017. Last month, Mitek acquired artificial intelligence and image analysis company A2iA for $49.7 million.
