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

eSignLive2014

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. 

eSignLiveHomepage
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.
eSignLiveForm2
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.
Finger-Mobile
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.
LaptopMobile-Photo
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.

Alumni News– October 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 Finovate-F-Logo.jpgPYMNTS: Karen Webster interviews Spreedly CEO Justin Benson.
  • Finovate alums dominate alternative lending section of Bplans’ “35 Great Ways to Fund a Small Business.”
  • Check out our latest CEO Interview: Mike Iacobucci of Interactions.
  • Betterment launches Betterment Institutional to bring its technology to registered investment advisors.
  • G2 Crowd Gridscape at Dreamforce ’14 shows eSignLive by Silanis earning highest customer satisfaction rating.
  • Kony receives Global Information Security Certifications for Enterprise Mobility Solutions.
  • Iceland’s Snorrason acquires Handpoint merchant portfolio.
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 13, 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.jpgCompass Plus announced that its TranzWare e-Commerce authentication solution supports American Express SafeKey.
  • NewsRepublic features Toshl Finance in its roundup of five apps to help you organize personal finances.
  • P2Binvestor signs $1 million revolving line of credit from New College Capital Ltd of London.
  • InComm announces partnership with Virginia Department of Transportation to launch E-ZPass Reload Cards.
  • Xero earns number one spot in annual BRW Most Innovative Companies list.
  • eToro adds native Android sharing to its update of OpenBook for Android.
  • Silanis launches new partnership with AgencyPort Software.
  • eSeller features Boku in its review of top payment apps.
  • Misys inks deal to bring Russia’s Cinimex into its InFusion Partner Programme.
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.

e-SignLive by Silanis Turns Mobile Devices into Signature Capture Solutions

Print

This post is part of our live coverage of FinovateFall 2014.

The team from Silanis is making its way to the stage right now. Silanis will demoing its electronic signature platform, e-SignLive

The e-SignLive Use Your Own Device (UYOD) capability solves a fundamental problem in financial services and banking: how to capture a customer’s handwritten signature electronically, without asking the customer to come into the branch. This innovation enables the customer’s smartphone or tablet to be used as a signature- capture device. It does not require an app or any in-branch hardware. Banks can now make remote customer on-boarding convenient and secure with any smartphone.
Presenting: Tommy Petrogiannis (CEO & Co-Founder) & TJ Witte (Sr. Technical Consultant)
SilanisHomepage_LiveBlog
Product Launch: September 2014
Metrics: e-SignLive by Silanis processes over 600M transactions annually and is used by 8 of the top 20 North American banks. With over half of our customers in banking and lending, e-SignLive has the largest share of the e-signature market in these industries. Outstanding customer service is part of our DNA. Silanis was named 2014 and 2013 Leader in Customer Satisfaction by enterprise software review site G2 Crowd. In 2013, Silanis was awarded the IBM Beacon Award for Best Industry Solution for Banking.
Product distribution strategy: Direct to Business (B2B), via fintech companies and platforms
HQ: Montreal, Quebec, Canada
Founded: March 1992
Twitter: @SilanisTech

Alumni News– August 18, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSilanis Technology releases e-signature solutions for Salesforce and Microsoft Dynamics CRM. See Silanis at FinovateFall 2014 in New York.
  • Michael Grillo of ACI Worldwide talks about the role of mobile devices in fighting payments fraud.
  • Klarna announces appointment of Jon Kamaluddin to its Board of Directors.
  • SumUp earns double-digit million dollar investment led by Life.SREDA
  • Xero’s Customer Experience team wins Bronze Stevie Award in 2014 International Business Award. Check out Xero’s presentation at FinDEVr in San Francisco this October.
  • TechCrunch: Coinbase acquires blockchain explorer, Blockr.io.
  • Silicon Angle: Why Cardlytics ditched sample data for its real-time analytics tactics.
  • EE Times reviews the similarities and differences between Ripple and bitcoin.
  • Forbes column on “the other sharing economy” profiles Expensify
  • Investors.com checks in with Betterment on strategies for meeting retirement financial challenges.
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– August 13, 2014

  • Finovate-F-Logo.jpgNetbanker features 2012- 2013 fintech graduates from Y Combinator:  TrueLink Financial, Coinbase, and LendUp.
  • Netbanker features 2009- 2012 fintech graduates from Y Combinator: ZenPayroll, SmartAsset, TrustEgg, FutureAdvisor, ReadyForZero, and WePay.
  • American Banker considers how Diebold is leading the way on the branch of the future.
  • peerTransfer surpasses 500 clients, while processing over $1 billion in international payments.
  • Heartland Payment Systems buys out remaining shareholders of tablet software and hardware startup, Leaf.
  • ACI Worldwide announces completion of ReD acquisition.
  • Lending Club mentioned in HBR Blog’s look at how new lending technology can help small businesses.
  • Silanis Technology partners with loan management software specialist Calyx Software. See Silanis at FinovateFall 2014 in September.
  • planwise teams up with Informa Research Services to launch plug-and-play search tool of real estate agents and brokerages.
  • NextAdvisor column in HuffPo highlights LendUp as alternative loan option for the underbanked.
  • Pandai announces joint cooperation with China and Hollard to leverage their experience in the loan insurance market.
  • Xero and Square partner to sync Square transactions and give a business a view of their finances. See Xero present at FinDEVr. 
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.