Finovate Alumni News

On Finovate.com

  • Fintonic Becomes Latest Challenger Bank to Receive Banking License.
  • Risk Tolerance Specialist Tolerisk Integrates with SS&C’s Black Diamond.
  • PayPal Launches Business Loans in Canada.
  • DaonPartners with Union Systems to Boost Digital Onboarding and Authentication.

Around the web

  • eMoney Advisor launches mobile budgeting app called Project Avocado and unveils developer API store.
  • Flywire announces the general availability of a new offering for adventure travel.
  • Mastercard and Revolut partner to launch Revolut cards in the U.S. by the end of the year.
  • The Ledger Nano X receives CSPN certification issued by the National Agency for Information Systems Security.
  • Bank of Hawaii taps Terafina for new digital account opening platform.
  • Biz2Credit and Infosys announce partnership.

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.

Terafina Teams Up with Alabama’s Listerhill Credit Union

Terafina Teams Up with Alabama’s Listerhill Credit Union

Turns out that President Trump isn’t the only one with Alabama on his mind these days. Cloud-based omnichannel sales solution provider Terafina announced this week that it is teaming up with Alabama-based Listerhill CU to power the 90,000+ member FI’s sales strategy as it continues its digital transformation.

“Terafina’s partnership allows us to deepen our existing member relationships and develop new ones, while also helping us to be proactive in meeting our members’ diverse financial needs,” Listerhill CEO Brad Green said. “Moreover, as we continue to expand our reach into new markets, we are excited about this partnership helping us meet and exceed our growth objectives for 2020 and beyond.”

With more than $841 million in assets, Listerhill Credit Union has embarked upon an effort to boost member engagement with a new, omnichannel experience. The goal is to make it easier for members to learn about, choose, and deploy new products and services to meet their financial needs. Named one of America’s Best Credit Unions in Alabama by Forbes and market research company Statista, Listerhill Credit Union was founded in 1952 and serves members in 13 counties in northwestern Alabama and Tennessee.

“Our entire team is delighted to help Listerhill grow organically and provide top notch services to its membership,” Terafina CEO Meheriar Hasan said. “We believe in the great value that Listerhill provides its communities and feel privileged to be a part of its rising story.”

Terafina demonstrated its omnichannel sales platform at FinovateSpring 2019. The technology delivers a seamless experience that aligns branches, call centers, and digital channels to help banks and credit unions improve customer engagement and increase sales. The company notes that its platform is core-agnostic and that it has built more than 30 connectors to core banking, loan origination, KYC, and CRM systems, as well as to data aggregation and data prefill providers.

Earlier this year, Terafina announced that it was partnering with PlainsCapital Bank to help the Texas-based institution fast track small business onboarding. PlainsCapital Bank is the fifth largest bank in Texas with $9.7 billion in total assets. In April, Terafina teamed up with Washington state’s Gesa Credit Union ($2+ billion in assets and more than 150,000 members), and in March, the company announced its collaboration with Silicon Valley-area credit union KeyPoint CU ($1.3 billion in assets; 63,000 members).

Founded in 2014, Terafina is headquartered in Fremont, California.

Finovate Alumni News

On Finovate.com

  • BNP Paribas to Deploy Dynamic Hedging Tech from Kantox.
  • Terafina Teams Up with Alabama’s Listerhill Credit Union.

Around the web

  • Klarna deepens ties with H&M to enable customers to shop now and pay later using the H&M app.
  • NICE’s AML and fraud SaaS solutions to power financial crime strategy for both anti-money laundering compliance and enterprise fraud protections.
  • Terafina to power Listerhill Credit Union’s omnichannel sales strategy and continue its digital transformation to increase member satisfaction and deepen relationships.
  • OurCrowd expands U.S. operations, opens office in Chicago.
  • ID R&D’s IDLive Face to power remote customer account openings and digital ID verification for Innov8tif’s EMAS eKYC.
  • ndgit and Synpulse launch international fintech marketplace in Switzerland.
  • Macrosoft joins Quadient’s Partner Advantage Program.
  • Onfido reports strong revenue growth momentum for Q2 2019; earns recognition from The Sunday Times as one of the fastest growing private companies in the U.K.

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.

Terafina to Boost Small Business Onboarding at PlainsCapital Bank

PlainsCapital Bank is the latest FI to take advantage of the omnichannel sales technology from Terafina. The company, whose platform is specifically designed for community banks and credit unions, announced that the bank has leveraged its small business onboarding solution to streamline the process of acquiring its SME customers.

President and COO of Terafina Ashwin Goyal praised PlainsCapital Bank as having made “all the right strategic moves” in distinguishing their product offering in the market. “They are designing a compelling small business banking strategy,” he said, “that helps them stand out from others, while taking advantage of the overlap with their existing retail capabilities and leveraging their trusted community footprint throughout Texas.”

PlainsCapital Bank sought to improve its small business customer onboarding to better serve its rapidly growing client base. In choosing Terafina, the institution is also trying to take advantage of small businesses’ willingness to choose a community bank or credit union as its bank partner (51% in a 2017 Raddon study) as well as the ability to market new products and services to SMEs more directly.

“We have been able to significantly improve the onboarding experience while penetrating the retail segment with small business products,” said Chief of Retail Banking for PlainsCapital Bank Matt Adkins. “This unique capability has added great value to our customers’ experience.”

PlainsCapital Bank is the fifth-largest bank in Texas based on deposit market share. Founded in 1988, the bank offers commercial, private, and consumer banking services, as well as treasury and wealth management. The Dallas-based institution has $9.7 billion in total assets, and operates more than 60 branches in cities such as Austin, Houston, and San Antonio.

Fremont, California-based Terafina demonstrated its Digital Sales Platform at FinovateSpring 2019. The technology enables community banks and credit unions to leverage the onboarding process to build deeper, lifecycle relationships with their clients. This helps FIs better tailor their product offerings, increase conversions, and drive growth.

It has been a busy first half of 2019 for Terafina. In April, the company announced that Gesa Credit Union, one of the largest credit unions in Washington state, with more than $2 billion in assets and 150,000+ members, would deploy its platform to provide real time sales and service offerings to its members. In March, the company reported that KeyPoint Credit Union, based in Silicon Valley and boasting $1.32 billion in assets, was going live with its omni-sales platform, as well.

Finovate Alumni News

On Finovate.com

  • Terafina to Boost Small Business Onboarding at PlainsCapital Bank.
  • IdentityMind Partners with BITPoint on KYC/AML Compliance.

Around the web

  • Bottomline Technologies teams up with Starling Bank and unveils its Real Time Payments Express Service.
  • Cambodia’s Chip Mong Bank to deploy Tranzware from Compass Plus to support cardless ATM cash withdrawals with cash-by-code transactions.
  • CEO World highlights Kabbage, Lendio, and TurnKey Lender as fintechs fighting for fair lending.
  • Toshl launches feature to split receipts to make expense tracking more precise.
  • SecuredTouch partners with Advantage FSE to provide seamless continuous authentication and fraud detection to digital banking customers.
  • NICE launches X-Sight Marketplace, a financial crime risk management-focused marketplace.
  • GoBankingRates features CalcXML in its list of top free online financial calculators.
  • TickSmith receives the A-team & BSO Award for fintech innovation.
  • MyInvenio launches multi-level process mining.
  • iSignthis has now approved more than 150 reportable accounts.

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.

FinovateSpring Sneak Peek: Terafina

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

Terafina’s omnichannel sales solution helps banks and credit unions unify the customer experience across digital, branches, and call centers to deepen client relationships and grow sales.

Features

  • Receive a simple, secure, and seamless account opening experience
  • Deliver proactive intervention to reduce abandonment rate
  • Deepen relationships through a multi-product, omnichannel experience

Why it’s great
Terafina’s rapidly growing customer base of banks and credit unions experiences an average of 18% to 35% sales conversion boost across their product lines.

Presenters

Jason Hillner, Senior Director of Sales
Hillner has over 20 years of experience helping financial institutions find, implement, and use technology to improve the customer experience.
LinkedIn

Sunil Krishnan, Head of Engineering
With over 15 years architecting and designing high performance core banking and origination systems, Krishnan brings extensive expertise to delivering continuous value to banks and credit unions.
LinkedIn



Finovate Alumni News

On Finovate.com

  • NYMBUS Helps Drive PNB’s New Digital Only Bank.

Around the web

  • Mercury Payment Solutions and Arion Bank select Fiserv AML Technology.
  • Challenger bank Monzo to use Jumio’s Netverify for customer identity authentication.
  • Neener Analytics selected by FIS for investment and participation in The Venture Center Accelerator
  • Launchfire wins Gold at the 2019 Hermes Creative Awards.
  • Jack Henry & Associates named a Best Place to Work in Kentucky for Seventh Consecutive 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.