Finovate Alumni News

On Finovate.com

  • “CardFlight Unveils EMV-Ready Chip Readers for SwipeSimple”

Around the web

  • Sonavation launches its IDKEY biometric security key that uses 3D Surface Scan Ultrasound technology.
  • CMSWire interviews Michael Laurie, co-founder and VO of product strategy at Silanis Technology.
  • iExpats takes a look at Azimo in a column on the costs of foreign currency transfers.
  • Arxan Technologies Security Solutions architect Matt Clemens talks mobile app security on Federal News Radio.
  • PaymentsSource’s look at “strange mobile security methods” features EyeVerify and Bionym.
  • IntelliResponse wins bronze at 9th annual Stevie Awards for Sales & Customer Service.
  • Jack Henry & Associates to be honored at Cedar Falls Business & Industry Association event.
  • Now Digital Network reviews Kashoo in column on ways to streamline small business accounting.
  • Computing U.K. features TransferWise and its use of big data to drive its social media marketing.
  • The CoinFront reports on Klarna’s “experiments” with bitcoin.
  • AMP Credit Technologies wins “Highly Commended Award for Best Initiative in Financial Inclusion” at the 6th Retail Banker International Asia Trailblazer Awards in Singapore.
  • TIO Networks now has 1+ million registered members in its direct-to-consumer user base.
  •  Taulia names Cedric Bru as new CEO.

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.

Alumni News: March 9, 2015

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  • Irish Independent reports on Fenergo and its plan to raise at least €10 million by fall.
  • Lifehacker reviews elder financial abuse-prevention technology, EverSafe.
  • ETF Trends takes a look at Wealthfront, Betterment, FutureAdvisor, and Motif Investing in a column on “robo-advice.”
  • Silanis Technology to bring eSignLive’s esignature technology to Xpertdoc’s CCM platform.
  • BodeTree launches Cash Tracker to give businesses a full picture of their finances.
  • Dealstruck launches new financing product, Inventory Line of Credit, to meet needs of businesses with recurring needs to purchase inventory.
  • Matchi launches global fintech challenge to find banking solutions for Barclays Africa.
  • Mapa Research: Reports from The Frontline of Fintech: Finovate Day Two.
  • Benzinga unveils fintech award finalists; 12 Finovate alums featured.
  • iQuantifi wins spot in Plug and Play Fintech Accelerator.
  • Accounting Today spotlights Sheela Zemlin, the new SVP of Sales for Bill.com.

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: March 4, 2015

  • 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.jpgSecureIDNews takes a look at the partnership between FinSphere and Visa.
  • Fiserv launches four new modules for its Financial Crime Risk Management platform.
  • iQuantifi wins “Best in Show” at Bank Innovation 2015 DEMOvation Challenge.
  • Silanis earns spot on KMWorld’s “100 Companies that Matter in Knowledge Management” list for 2015.
  • IT Business Edge interviews Flint Mobile CEO Greg Goldfarb.
  • American Banker considers the benefits of banks using Ripple.
  • Innovation in Finance interviews CoinJar at FinovateEurope in London.
  • Capital Bank’s OpenSky Puts CRIF’s CreditFlow & StrategyOne to the Test.
  • Inc: How OnDeck Plans to Make Alternative Lending a Blue Chip Business.
  • Inc. lists Bionym as one of 8 Canadian startups to watch out for in 2015.
  • Yodlee now provides data APIs to nearly 50 fintech applications and services in the personal wealth-management space.
  • Braintree expands its Asia-Pac operations into Hong Kong, Singapore and Malaysia.
  • PandoDaily: PayNearMe partners with Grameen America to help lift women out of poverty.
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.

Alumni News– February 27, 2015

  • 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.jpgWired column looks at LoopPay and the evolution of digital wallets.
  • Silanis Technology partners with Box to help the cloud storage and file sharing specialist provide financial services.
  • Bank of the West to offer photo billpay courtesy of technology from Fiserv and Top Image Systems.
  • Finovate Debuts: Novabase Puts Watson-Powered Wizzio to Work Boosting Sales and Productivity.
  • Mainstreet reviews top roboadvisors including Wealthfront, Betterment, Personal Capital, FutureAdvisor, SigFig, Motif Investing, and LearnVest.
  • Prosper partners with Western Independent Bankers to offer consumer loans to unattractive borrowers.
  • Tech City News features video highlights from FinovateEurope 2015.
  • That Was Easy: Staples to Use Lendio to Power Small Business Lending.
  • Daily Fintech looks at programmable bank trends via APIs from Fidor, Open Bank Project, Yodlee, and Xignite.
  • AlleyWatch interviews MaxMyInterest CEO and founder Gary Zimmerman.
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.

Alumni News– January 22, 2015

  • 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.jpgKreditech secures $200 million credit line from Victory Park Capital.
  • GMC Software and Silanis Technology partner to integrate eSignLive with Inspire.
  • Internet Retailer features Trustev CEO Pat Phelan in discussion on consumer fraud.
  • TradeKing unveils Risk Assist to protect clients against steep market declines.
  • Braintree completes initial integration with Coinbase; opens up private beta access.
  • Financial Post business section features Digital Retail Apps in its look at digital payments in 2015.
  • Realty Mogul adds new Senior VP of Mortgage Operations, Kendra King.
  • Temenos forges strategic alliance with EFT processor, Elan Financial Services.
  • Check out our latest FinovateEurope 2015 Sneak Peek, Part 4 featuring Bendigo and Adelaide Bank, CPB Software AG, Ixaris, JSC Delta Bank, QCR, and Topicus Financial.
  • Planwise launches Connect, leveraging affordability tools to help real estate agents engage potential buyers.
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.

Alumni News– January 16, 2015

  • 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.jpgLinedata Capitalstream to offer e-SignLive by Silanis.
  • 13 Finovate alums win 2015 Paybefore Awards.
  • Payment Services Provider Anderson Zaks teams up with card-linked offers specialist, Birdback.
  • EZBOB launches scratch card promotion.
  • MarketWatch’s Your Digital Self column looks at Jingit.
  • Baseline magazine features a recent study by Arxan Technologies on the state of mobile app security.
  • The Mifos Initiative joins Microcredit Summit Campaign to integrate social performance management and poverty measurement tools into its free and open source cloud-based core banking system.
  • The Super early bird deadline for FinovateSpring 2015 ends tonight! Pick up your tickets now to save big time.
  • Monetise partners with MoneyPass to offer mobile money services to MoneyPass customers.
  • Lending Club Pilots Program to Provide Low Interest Financing to Google Partners.
  • In 2014, secondary transactions surged to a record $1.4 billion on SecondMarket.
  • Spend Matters debunks myths about Taulia. Check out Taulia at FinovateEurope next month.
  • Infosys announces $250 Million USD ‘Innovate in India Fund’ to support Indian start-ups.
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.

Alumni News– January 14, 2015

  • 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.jpgPayPal Here to provide Windows support, previews EMV card reader.
  • App Annie raises $55 million in Series D round.
  • Andy Swan of LikeFolio quoted in Yahoo! Finance’s look at Amazon and Walmart.
  • Crowdfund Insider profiles Patch of Land.
  • Insurance Brokers Association of Ontario (IBAO) partners with Silanis to offer e-SignLive to its members.
  • WePay CEO Bill Clerico writes about the relationship between Bitcoin, ApplePay, and mobile payments in 2015.
  • Check out FinovateEurope 2015 Sneak Peek: Part 1.
  • Xero opens Payroll solution to SMBs in California, Florida, and Texas. Plans to be in all 50 states by end of 2015.
  • ShopKeep Pocket app launches with real-time reporting features.
  • Kreditech Acquires Kontomierz for “Seven Digit Amount”.
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.

Alumni News– December 23, 2014

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  • The Tech Bulletin profiles Heckyl Technologies.
  • Sonavation announces acquisition of assets of Arkami.
  • Chelsea State Bank launches Larky-powered mobile app.
  • EVRY announces a four-bank, $160 million payments partnership.
  • Kashoo unveils version 4.1 of its cloud accounting and bookkeeping app for iOS. 
  • Walmart to distribute GreenDot prepaid products in 2015.
  • BMO Financial Group’s deployment of Xignite Enterprise wins American Financial Technology Award.
  • IT Qlick takes a look at Jwaala Personal Financial Manager and roomMaster.
  • CashStar teams up with Spafinder Wellness.
  • NY Times DealBook looks at disruptive startups in fintech including Lending Club, On Deck, and TradeKing.
  • Forbes.com column on how companies stand out from the crowd features Silanis Technology.
  • Jemstep to power Redhawk Online Advisor.
  • Continuity Control taps Peter Rawlinson 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.

Alumni News– December 15, 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.jpgSFGate column on the technology of mobile payments features thoughts from PayPal’s Max Levchin and Loop’s Will Graylin.
  • Stockpile teams up with Yodlee to provide Invest Your Change, Stock Purchasing and Gifting products.
  • American Banker takes a look at “post-IPO expectations” for newly-public Lending Club.
  • Golden Pacific Bank adds mobile remote deposit capture to its mobile banking offerings courtesy of Digital Insight.
  • National Association for Business Resources names Billhighway Best and Brightest Company to work for in 2014.
  • Time asks: What is Venmo?
  • Nine of the 15 fintech startups Forbes recommends watching in 2015 are Finovate and FinDEVr alums.
  • eWeek reports on Arxan Technology’s mobile Runtime App Self Protection (RASP) enhancements.
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.

Alumni News– November 19, 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 Finovate-F-Logo.jpgeFLOW Crowdbridge from Top Image Systems voted one of the three best ECM Solutions for 2014.
  • Technocular interviews WePay founder and CEO, Bill Clerico.
  • Allied Payment Network launches its new small business payments solution, BizPay.
  • Kapitall and Motif Investing both referenced in Investment News column on data visualization.
  • Kahuna Payment Solutions chooses e-SignLive by Silanis, bringing e-signatures into its lending platform for retailers.
  • Syd Youth partners with CSI globalVcard to promote Spend Secure.
  • Banking 20/20 interviews EyeVerify EVP of Global Sales & Marketing, Chris Barnett.
  • Silicon Republic features Fenergo software developer, Marcio Duarte.
  • Business Insider reviews FutureAdvisor.
  • Credit Sesame wins IMA Outstanding Achievement Award in Financial Services.
  • FinovateEurope 2015 Presenting Companies Revealed. Get Your Ticket this Week for Very Early Bird Pricing!.
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.

Alumni News– October 28, 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 Finovate-F-Logo.jpgSilanis Technology launches eSignLive for Sharepoint.
  • CRIF announces acquisition of Dun & Bradstreet UAE in Dubai.
  • National Health Service website, NHS Choices, chooses Quill from Narrative Science.
  • Check Point Software announces availability of Check Point Capsule, a mobile solution that offers protection for business data and devices.
  • InComm partners with Groupo BB e Mapfre to enable consumers to purchase insurance from local vending machines and retailers in Brazil.
  • BillGuard now uses geolocation to detect credit card fraud.
  • H&R Block turns to Social Money to promote goal-based savings for Emerald Card customers.
  • Check out a spooky clip from Moven about paranormal spending activity.
  • Southern Bank Selects Malauzai Software for Mobile Banking to Ensure Bill Pay Integration, Provide Customers with PicturePay.
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 Debuts: eSignLive by Silanis

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Finovate Debuts is a blog series to introduce new Finovate alums. Today’s feature is Silanis, which demoed eSignLive Use Your Own Device at FinovateFall 2014.

eSignLive Use Your Own Device by Silanis

Silanis is one of the biggest service providers in the banking and lending e-signature market. Banks, credit providers, insurers, and government agencies use the company’s electronic signature platform to the tune of more than 600 million documents processed annually. 

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The latest innovation from Silanis, eSignLive Use Your Own Device, turns smartphones into signature capture devices without requiring an app download or expensive in-branch hardware. The technology “solves the final barrier” of transactions that demand a full, handwritten signature, according to Silanis, and enables financial institutions to deliver the same kind of customer experience that retailers offer.
The Stats
  • Founded in March 1992
  • Headquartered in Montreal, Quebec, Canada
  • Tommy Petrogiannis is CEO and Co-Founder
  • 100 employees
  • Processes more than 600 million documents a year
  • Customers include four of the top 10 banks in North America, eight of the top 15 insurers, and the U.S. Army
  • Named Leader in Customer Satisfaction by enterprise review site, G2 Crowd in 2013 and 2014
  • Won IBM Beacon Award for Best Industry Solution for Banking in 2013
  • Launched eSignLive Use Your Own Device in September 2014

The Story

Silanis specializes in providing electronic signature services – and their client list is impressive. The Joint Chiefs of Staff have been using the platform since 1997. GMAC went paperless with its global operations in 2001 courtesy of the e-signature platform from Silanis. And just one of the company’s clients, a “top 5 US bank” with more than $300 billion in assets reports processing more than 35,000 e-sign transactions every day since deploying the technology at all 3,000 retail branches in 2011.
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This has meant:
  • An 80% reduction in document handling costs (savings in the millions of dollars)
  • A 90% reduction in loan exceptions
  • More than 90,000 hours of bankers’ time reallocated toward increasing loan sales
The bank also reported that the Enterprise edition of eSignLive helped them exceed compliance regulations, make back office operations manuals obsolete, and improve the overall banking experience for their customers.
Still, there has been a region of the e-signature world that has eluded Silanis up until recently. For those transactions that require a full, handwritten signature, the options for many institutions have been bleak. Typically, there is little alternative other than to require customers to go to a brick and mortar location, even though the application started online. Proprietary e-signature hardware is expensive, often prohibitively so for smaller community FIs.
The Innovation
Silanis solves both the multi-channel and cost issues by turning the customer’s own smartphone into a signature-capture solution. The e-signatures created by this “operating system agnostic” Use Your Own Device approach are legally-enforceable transactions with an audit trail and “signing ceremony” captured, as well. Authentication and delivery to the back end for processing are fully integrated. There is no need to buy expensive e-signature hardware and no apps for consumers to download.
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With eSignLive, the Holy Grail of 100% remote account opening is now possible, according to Silanis. It is ironic that the most fundamental of banking services – customer onboarding – has been the most resistant to technology innovation. By focusing on the issue of the handwritten signature requirement, Silanis directly targets one of the main reasons for this particular pain point.
From the user’s perspective, opening an account with the technology is straightforward. Signees access the platform from a browser, rather than downloading an app. After completing an electronic disclosures and signatures consent document, the customer fills out the form as she would ordinarily. 
The technology recognizes if the applicant is using a touchscreen device. If not, when it’s time to sign, a gold “Sign with your mobile phone” button appears below the signature capture field. Click here and an email or SMS message is sent to the applicant with instructions on how to complete the transaction. The applicant opens the email or SMS on the touchscreen device, clicks on the link provided, and then traces her signature with a finger or stylus in the signature field. Click “Continue” and the applicant’s hand-drawn signature is added virtually to the document.
Once the user confirms that everything is accurate, the document is sent to the FI’s processing. Applicants can download and print the document for their own records.
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For the FI, eSignLive provides cost-savings from fewer errors and reduced document handling, costs of scanning, faxing, couriers, and postage. 
Additionally, the technology also gives FIs a number of valuable customer insights, ranging from where customers complete transactions,
where they are dropping out, and how to selectively market different programs to their customer base.
eSignLive’s Use Your Own Device is available on the Integrated and Enterprise editions. Both are on-premises deployments rather than solely SaaS, and include additional features such as advanced forms, reports, and dashboards; branding customization; and, in the case of Enterprise, a completely customizable GUI, workflow and advanced authentication.
The Future
What should we look forward to when it comes to Silanis? With the launch of eSignLive in September, new deployments are at the top of the list. And 2014 already has been a good year in this regard: the company launched a new partnership with AgencyPort Software in October, teamed up with loan management software specialist Calyx Software in August, and has been providing e-Signature services for Royal Bank of Canada (RBC) since the beginning of the year.
Even more worth watching may be the company’s theory that technologies like this will enable FIs to become truly “virtual banks”, 100% divorced from the brick-and-mortar branch. But to the extent that eSignLive Use Your Own Device, makes on boarding new customers an easy and seamless process, the technology may be just as liberating for “non-virtual” FIs as it promises to be for those banks trying to go branchless.