Finovate Alums and the History of Bitcoin Innovation

By David Penn Posted on January 19, 2021
Categories: AlphaPoint, Alumni profile, Amber Labs, ArcBit, Bitbond, BlockCypher, Blockstack.io, Coinalytics, Coinbase, CoinJar, Gem, itBit, KlickEx, Ledger, OpenCoin, Plutus Software, Ripple, Stratumn

With bitcoin and cryptocurrencies enjoying renewed interest, it’s worth noting that many fintech fans encountered their first bitcoin-related businesses through Finovate conferences.

Here’s a look at some of the companies that have brought their bitcoin and crypto-powered innovations to the Finovate stage.

OpenCoin – FinovateSpring 2013 – The company now well-known as Ripple was introduced to Finovate audiences back in 2013. At FinovateSpring that year, Chris Larsen – CEO of a startup called OpenCoin – introduced its virtual currency and distributed open source payment network. Founded in 2012 and headquartered in San Francisco, California, Ripple currently has more than 300 financial institutions who leverage its RippleNet blockchain network to power real-time payments.

KlickEx – FinovateAsia 2013 – New Zealand-based KlickEx unveiled its asset-backed and algorithmic cryptocurrency for institutional and retail users at FinovateAsia in 2013. The company, founded in 2009, recently announced a partnership with the National Reserve Bank of Tonga to launch a new national payment system.

Coinbase – FinovateSpring 2014 – Among the bigger names in bitcoin and cryptocurrency to have demonstrated their technology at Finovate conferences is San Francisco, California-based Coinbase. Debuting at Finovate with its Instant Exchange in 2014, Coinbase has grown into one of the biggest players in the cryptocurrency market with more than 35 million verified users and more than $320 billion in total volume traded on its platform.

AlphaPoint – FinovateEurope 2015 – With more than $350 million in monthly trading volume and 20 digital currency exchanges operating in 15 countries, AlphaPoint is a leading fintech exchange platform provider for digital currencies. The company demoed version two of its digital currency exchange platform at FinovateEurope in 2015.

CoinJar – FinovateEurope 2015 – Australia’s largest and longest-operating bitcoin company, CoinJar demonstrated its platform at FinovateEurope 2015. The Best of Show-winning firm was the first in its market to offer a bitcoin debit card that enabled cardholders to use the cryptocurrency for everyday purchases.

Bitbond – FinovateEurope 2015 – Berlin, Germany’s Bitbond offers a global P2P bitcoin lending platform that enables anyone with an Internet connection to both get loans as well as invest their savings for interest. The company demonstrated its AutoInvest functionality, which facilitates and automates fund allocation in a portfolio, at FinovateEurope 2015.

itBit – FinovateSpring 2015 – New York-based itBit demonstrated its bitcoin trading platform at FinovateSpring in 2015. The company’s technology enables both institutional and retail investors to buy and sell bitcoin. Rebranded as Paxos in the fall of 2016, the company has since highlighted its work in private blockchains and distributed ledger technology.

Blockstack.io – FinovateFall 2015 – Best of Show winning Blockstack.io offers a hosted and licensed enterprise blockchain platform that enables financial services companies and others to build applications on their own private blockchain. The San Francisco, California-based company, founded in 2015, was acquired by Digital Asset Holdings for an undisclosed sum before the end of the year.

ArcBit – FinovateFall 2015 – With a pledge to leverage bitcoin and blockchain technology to bring banking to the underbanked, ArcBit, which made its Finovate debut at FinovateFall in 2015, offers a mobile wallet specifically designed to give bitcoin owners full control over their cryptoholdings.

Coinalytics – FinDEVr San Francisco 2015 – Our developers conference, FinDEVr is one way that many bitcoin and crytocurrency innovators were able to bring their innovations to the public. Coinanalytics, which offers an end-to-end intelligence platform for the bitcoin industry, is an example of the kind of company developing solutions to make bitcoin a better opportunity for payments, financial services, and IoT.

BlockCypher – FinDEVr Silicon Valley 2015 – Another alum of our developer’s conference, BlockCypher offers companies a cloud-optimized, enterprise-grade blockchain platform that enables them to build reliable blockchain apps. Headquartered in Redwood City, California, the company was founded in 2014.

Gem – FinDEVr Silicon Valley 2015 – Founded in 2014 and based in Venice, California, Gem demonstrated its API which provides a comprehensive security solution for bitcoin apps – without taking control over funds. With a few lines of code, Gem enables developers to provide an interface to their bitcoin apps that gives users better funding options.

Ledger – FinovateEurope 2016 – Headquartered in Paris, France and founded in 2015, Ledger designs trusted hardware solutions for bitcoin and blockchain apps. The company’s solutions, including the Nano X and Nano S, provide cryptocurrency owners with a secure, portable way to take and manage their digital assets wherever they are.

Stratumn – FinDEVr New York 2016 – Enterprise blockchain technology company Stratumn provides firms with the infrastructure and tools they need to to build, deploy, and run blockchain. The company presented the high performance, proof-of-existence engine of its development platform at our developer’s conference in 2016. Jerome Lefebvre took over as CEO of the company from co-founder Richard Caetano in the fall of 2019.

Plutus.it – FinovateEurope 2018 – London-based Plutus demonstrated its Tap & Pay and Debit Card solutions that enable consumers to pay with bitcoin or Ethereum at any contactless point of sale. Founded in 2016, the company currently supports more than 26,000 Plutus accounts and credits its users for acquiring more than $100,000 in rewards via its Pluton Rewards program.

Amber Labs – Finovate MiddleEast 2019 – Best of Show winner Amber Labs is a bitcoin exchange, wallet, and micro-investment app in one. Headquartered in Brisbane, Queensland, Australia, and founded in 2017, Amber Labs offers a mobile first, automated investment platform for retail customers looking to buy and sell bitcoin.

Photo by Thought Catalog from Pexels

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Stratumn Opens Public Beta for IndigoTrace

By Julie Muhn (@julieschicktanz) Posted on January 31, 2018
Categories: Stratumn

Stratumn, a startup that leverages the blockchain to reinvent how businesses create trust online, launched the beta of a plug-and-play software product today.

Dubbed IndigoTrace, it’s a user-friendly API that allows business administrators to create a workflow and invite participants, giving them each a role designated by a public/private key. Users can add inputs to the workflow and all changes can be monitored and traced in real time. This traceability offers visibility into who did what, when, where, and why, allowing for easy audits throughout the process. All information is secured by Stratumn’s Proof of Process (PoP) technology and public blockchains.

The API plugs directly into a business’ existing system and can be accessed via web, mobile, or IoT. IndigoTrace offers an intuitive user interface to empower even non-technical employees to offer input.

Stratumn cofounder and CEO Richard Caetano told Finextra, “At Stratumn, we see an increasing need for consumers, companies and regulators to be able to trace the movement of any good or asset and audit the status of a process at any given time and place. In a fast paced hyper-connected world, the ability to make, automate and prove strong business decisions is critical. We believe that the Blockchain technology has the answer to this need by providing a single and immutable source of truth, auditable by all parties involved in a finance or supply chain process.”

Founded in 2015, Paris-based Stratumn’s Proof of Process technology helps streamline and secure the exchange of data among partners, customers, and regulators by leveraging the blockchain. At FinDEVr New York 2016, Caetano gave a presentation titled Building and Securing Smart Workflow Using Chainscript and the Stratumn Blockchain Development Platform. Last June, Stratumn partnered with NASDAQ and received $7.8 million in Series A financing, bringing its total funding to $8 million. In November, the company completed a blockchain experimentation in which it connected 14 insurance companies in France.

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Finovate Alumni News

By David Penn Posted on November 10, 2017
Categories: ACI Worldwide, Bluefin Payment Systems, Checkbook.io, Compass Plus, Fenergo, Finastra, nCino, NetGuardians, Ping Identity, Q2 Holdings, Revolut, Scalable Capital, Stratumn, Trustly

Around the web

ACI Worldwide supports cross-border e-commerce in Brazil with integration of payment processor and gateway, PagBrasil.

Revolut is the latest fintech to apply for a European banking license.

Fenergo teams up with Opus to improve integration of risk-relevant information in the KYC process.

KAMCO Investment Company chooses Fusion Invest from Finastra to accelerate growth.

Bluefin Payment Systems unveils PCI P2PE sub-listing option for users of its Decryptions as a Service (DaaS) offering, Decryptx.

Ping Identity adds support for companies seeking PSD2, open banking compliance.

Trustly tops €10 billion in total payment processing volume since inception.

Q2 Holdings named to Deloitte Technology Fast 500 for second consecutive year.

Stratumn completes a blockchain experimentation connecting 14 insurance companies in France.

nCino debuts in top half of Deloitte’s 2017 Technology Fast 500.

Scalable Capital hits €500 million in assets.

Checkbook.io disrupts class action payments.

Compass Plus assists Almazergienbank to support the issuing and acquiring of JCB cards.

NetGuardians and Swisscom launch fraud prevention service.

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.

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Finovate Alumni News

By David Penn Posted on November 9, 2017
Categories: eToro, Stratumn, Xero

Around the web

eToro taps George Verbitsky as managing director for Russia.

Stratumn tests use of blockchain technology in enhancing information flows for French insurers.

Xero and Worldpay partner to make invoicing easier for SMEs.

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.

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Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

By David Penn Posted on October 30, 2017
Categories: ACI Worldwide, Arxan Technologies, Avoka, BehavioSec, BioCatch, Biometric Signature ID, Daon, DefenseStorm, EyeVerify, Featurespace, Feedzai, FICO, FIS, Fiserv, HackerOne, HooYu, IBM, Icon Solutions, ID Analytics, ID.me, IdentityMind Global, Infosys, iSignthis, Jumio, Kony, Ledger, MasterCard, Mitek, NetGuardians, NuData Security, Ping Identity, Samsung, SecureKey, Signifyd, Stratumn, TASCET, ThreatMetrix, Trulioo, TSYS, Uncategorized, VASCO, Vera, Zighra

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Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
Avoka extends strategic partnership with Mitek for digital identity verification solutions.
ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
Ledger partners with Intel to boost blockchain app security.
BioCatch to power behavioral biometrics for Samsung SDS America.
SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
Zighra launches flagship continuous authentication product.
Kony to launch digital banking solution leveraging Daon biometrics.
iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

Vera to provide data security services for GE.
BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

Signifyd guarantees fraud protection for Magento Commerce Merchants.
Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
FIS and Equifax partner to offer new identity verification solution, OnlyID.
Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

Samsung to power biometric authentication pilot for Bank of America.
Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

International Air Transport Association chooses fraud prevention technology from Featurespace.
Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
Jumio partners with Monzo for strong identity verification.
iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

Cisco and IBM team up on security.
BehavioSec partners with Kount.
Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

Mastercard adds to authentication arsenal with acquisition of NuData Security.
Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

Daon brings mobile biometric authentication to UnionBank.
Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

Arxan Technologies partners with Cisco as to protect connected medical devices.
WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

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Stratumn Lands $7.8 Million, Forms Strategic Partnership with NASDAQ

By Julie Muhn (@julieschicktanz) Posted on June 8, 2017
Categories: Funding, Stratumn

Regtech blockchain startup Stratumn just landed $7.8 million in Series A financing. This sum brings the company’s total funding to just over $8 million when combined with the $670k seed money it received in March of 2016.

The round was led by CNP Ventures, with contributions from Otium Venture, Nasdaq and Digital Currency Group. Stratumn will use the funds to accelerate development by focusing on research, product design, and business development. The company will also address human resources, with a plan to double its 15-person workforce by the end of next year. While Stratumn has already developed 10 projects with NASDAQ, along with a handful of France-based corporations– including CNP Assurances, Allianz France, Thales, Bureau Veritas and Bouygues Immobilier.

Stratum also announced today that it is deepening its collaboration with the Nasdaq via a new, strategic partnership. The co-research and development partnership aims to leverage Proof of Process Technology “to enhance the software solutions and products for the capital markets, particularly in Nasdaq’s Market Technology business and its own enterprise technology unit.”

In a press release, Stratumn CEO Richard Caetano said:

“We are very confident about Stratumn’s development prospects in the upcoming months and years. The successful closing of this round, as well as our investor’s commitment as strategic partners, is rocket fuel which will power the development and launch of Proof of Process Technology.”

Above: Stratumn CEO Richard Caetano presenting at FinDEVr New York 2016

Want to see more fintech aimed at developers? FinDEVr London is happening next week on 12 & 13 June. Register today to save your spot.

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Finovate Alumni News

By David Penn Posted on June 8, 2017
Categories: Bankjoy, BlueVine, HackerOne, Insuritas, MasterCard, Pendo Systems, Rangle, Stratumn, SumUp, Top Image Systems

On Finovate.com

Stratumn Lands $7.8 Million, Forms Strategic Partnership with NASDAQ.

Check out previews of upcoming FinDEVr London presentations next week:
- Rangle
- Hacker One

Around the web

Bankjoy partners with SafeAmerica CU to build new omnichannel banking platform.

SumUp hires Ryan O’Connor as Managing Director for the U.S.

Top Image Systems consolidates Executive Management Team.

Solomoto and Bluevine partner to offer credit lines and digital marketing to small businesses globally.

Mastercard launches comprehensive digital payment solution for small and midsized businesses.

Independent Bank to leverage Insuritas to serve the bank’s 250,000+ customers.

Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, joins Pendo Systems’ board.

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.

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Finovate Alumni News

By David Penn Posted on January 26, 2017
Categories: Aqubix, Avoka, Engage Insight, i-exceed, ITSector, Klarna, Kontomatik, modeFinance, Nomis Solutions, Sberbank, Stratumn, Temenos, Truphone, wipro, WorkFusion, WorldPay

On Finovate.com

WorkFusion Closes $35 Million in Funding

Check out our latest FinovateEurope Sneak Peeks featuring:

Around the web

Klarna teams up with ASOS Partners to bring “pay after delivery” to Nordics.

Luxembourg’s Rakuten Europe Bank goes live with core and digital banking technology from Temenos.

Wipro to acquire Brazilian IT banking services provider, InfoSERVER.

Let’s Talk Payments interviews Kontomatik CEO Marcin Truszel.

Financial transactions optimized using Nomis Solutions technology exceeds $1.5 trillion in 2016.

Finextra: Worldpay partners UnionPay for bumper Chinese New Year.

Truphone launches Global SMS recording solving the Blackberry migration challenge.

Sberbank launches a new corporate online banking platform designed together with IBM iX.

WISeKey partners with Stratumn to use Blockchain for real-time accountability and traceability.

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.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on January 25, 2017
Categories: ACI Worldwide, Arxan Technologies, Avoka, Currency Cloud, Evo Snap*, Kontomatik, PayNearMe, SimplyTapp, Stocktwits, Stratumn, Temenos, Xignite

Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register for FinDEVr New York now and save!

On FinDEVr.com

SimplyTapp Launches New Payments and E-Commerce App, Gane.

Alumni updates

Let’s Talk Payments interviews Marcin Truszel, Founder & CEO of Kontomatik.

StockTwits Partners with TradeIt to Expand Beyond Robinhood’s Brokerage.

Xignite adds senior sales, business development talent; unveils new offices in New York financial district.

Arxan Technologies partners with Cisco as to protect connected medical devices.

CurrencyCloud Taps Former Misys Executive Ed Addario as New CTO.

Quicken to Leverage PayNearMe’s Prism API.

The Banker interviews Avoka European GM, Richard Austen.

Persia International Bank chooses core banking technology from Temenos.

WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.

EVO Payments acquires Sterling Payment Technologies.

StockTwits to acquire SparkFin.

Rabobank to deploy UP Immediate Payments from ACI Worldwide.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on January 19, 2017
Categories: bankUP, BBVA Compass, Evo Snap*, ICAR, Infolio, Liferay, Pushfor, Stocktwits, Stratumn, TipRanks, TSYS

On Finovate.com

Finovate Debuts: Helping Banks Turn Data into Insights with Liferay DXP

Top B2B wealth tech players.

Check our our latest FinovateEurope Sneak Peeks featuring

Around the web

WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.

TipRanks unveils new feature for its Smart Portfolio platform to follow the elite investors and compare their portfolio to the top 10% of TipRanks portfolios.

EVO Payments acquires Sterling Payment Technologies.

StockTwits to acquire SparkFin.

BBVA Compass reups payments agreement with TSYS.

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.

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Stratumn’s LenderBot is a Micro-Insurance Solution for the Sharing Economy

By Julie Muhn (@julieschicktanz) Posted on July 13, 2016
Categories: Stratumn

Blockchain-powered workflow-solutions company Stratumn recently launched a micro-insurance proof-of-concept for the sharing economy. It’s called LenderBot, and it was developed in a partnership with Deloitte and LemonWay.

The aim of LenderBot is to facilitate the borrowing and lending of high-value items while offering a way for lenders to insure those items. The entire workflow takes place through a chatbot on Facebook Messenger. Once the borrower and lender agree to the loan terms, they interact with the bot to digitally sign the agreement. The bitcoin blockchain serves as a trusted third party to the loan contract.

Richard Caetano, CEO of Stratumn, said, “Here we rely on the identification provided by Facebook and LemonWay to create a three-way contract between insured parties and the insurer. This transfer of confidence is reinforced by the use of cryptography and time-stamped data in the blockchain. This guarantees data protection and traceability of every step in the subscription of the insurance contract.”

Stratumn provides the Trusted Workflow tools; LemonWay supplies the payment solution; and Deloitte brings its knowledge of the financial industry and relationships across the globe.