ThetaRay Opens Mexico City Office; Dubai’s Foloosi Turns to KSA for Expansion

Join us in October as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

For information on how to participate in FinovateAsia as a demoing company, partner, or sponsor, send us an e-mail and we’ll tell you everything you need to know.

Latin America and the Caribbean

  • Konfio, a Mexican financial services and credit assessment platform for SMEs, picks up $100 million secured credit facility from Goldman Sachs.
  • ThetaRay unveils new office in Mexico City.
  • Crunchbase news investigates the forces behind the “digital banking boom in Latin America.”

Asia-Pacific

  • Clinc’s Conversational AI gives voice to new app from Singapore’s OCBC Bank.
  • South Korea’s Shinhan Financial Group opens accelerator lab in Indonesia.
  • iSunOne teams up with Malaysia Productivity Council to build the world’s first Islamic, blockchain-based financial system.

Sub-Saharan Africa

  • Nigerian digital-only retail bank Kuda raises $1.6 million in pre-seed funding.
  • Apis Partners acquires majority stake in Tutuka, a payment processing technology company based in South Africa.
  • Techpoint Africa looks at the growth of Nigerian fintech QuickCheck, which helps promote access to credit.

Central and Eastern Europe

  • Romania’s Tremend Software Consulting partners with Mastercard Romania to help support digitization of payments.
  • Croatian startup Worig offers a credit rating system for long-term renters in Croatia and throughout the EU.
  • German WEG Bank gains cryptocurrency trading and custody license in Estonia.

Middle East and Northern Africa

  • Dubai-based Foloosi announces plans to make Saudi Arabia the first part of its expansion across the GCC region.
  • Emirates NBD introduces voice banking via Amazon Alexa.
  • Wamda looks at how UAE-based ride-hailing app Careem is moving increasingly into the payments space.

Central and Southern Asia

  • Indian fintech OkCredit raises $67 million in round led by Lightspeed and Tiger Global.
  • Entrepreneur.com examines how Indian fintechs have leveraged the omnichannel approach to extend their platforms.
  • City of London Mayor to be accompanied by delegation of British fintech companies during upcoming, five-day trade mission to India.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Clinc’s Conversational AI Gives Voice to New App from Singapore’s OCBC Bank.
  • Finovate Global: ThetaRay Opens Mexico City Office; Dubai’s Foloosi Turns to KSA for Expansion.

Around the web

  • Meniga to enable consumers to donate cashback from their Meniga Rewards app to help combat climate change.
  • Mambu forges partnership with Swiss online lender bob Finance.
  • We Write Code joins Dwolla’s Partnership Ecosystem.

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

On Finovate.com

  • HackerOne Cracks into $36.4 Million in Funding.
  • Arival Bank Nets $2.3 Million in Equity Crowdfunding Campaign.
  • Winners Circle: Finovate Honors Fintech’s Finest with New Awards Series.

Around the web

  • Cinchy voted “Top Pick” for TechCrunch Disrupt SF 2019 and selected as a CIX Top 20 company for 2019. Check out Cinchy’s upcoming demo at FinovateFall later this month!
  • ThetaRay unveils new office in Mexico City.
  • Epcor partners with data-driven solution provider Segmint to help FIs better leverage payment data.
  • Dwolla teams up with Currencycloud to make international payments easier for businesses.
  • Luxoft to collaborate with Fenergo as part of the company’s Global Platinum Partner program.
  • Meniga helps Grupo Crédito Agrícola launch its new banking app, moey!.
  • Nomis Solutions expands presence in the Midwest with the opening of a Center of Excellence in Cleveland, Ohio.
  • WePay launches same-day deposits to Chase bank accounts for free.
  • Blackhawk Network appoints Harel Kodesh as chief technology officer.
  • Lendio Southwest Michigan franchise opens to offer funding to local businesses.

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

On Finovate.com

  • Xignite to Power WealthSimple’s New Stock Trading App.
  • Kony Secures $37 Million in Financing from BMO.
  • Sezzle Raises $30 Million in IPO.
  • Vymo Reels in $18 Million for its Intelligent Sales Assistant.

Around the web

  • Deal sealed: Fiserv completes acquisition of First Data.
  • Visa announces strategic partnership with SME banking service Open.
  • eToro enables retail customers to invest in drone technology via its latest portfolio.
  • iGTB to enhance trade finance operations for two Raiffeisen banks, Niederosterreich-Wien and Landesbank Steiermark.
  • CREALOGIX to power new consumer digital investment platform from MeDirect Group.
  • JP Morgan Chase ends loan origination partnership with OnDeck.
  • ThetaRay brings on Idan Keret as Chief Customer Success Officer.
  • GreenDot offers customers 3% cash back on online and in-app purchases and a savings account paying 3% APY.
  • Fintech Finance interviews Olga Feldmeier, Smart Valor CEO.
  • Redrock Biometrics secures a perfect score in Level 1 Presentation Attack Detection confirmation testing by iBeta.
  • SpyCloud expands into Europe, the Middle East, and Africa.

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

On Finovate.com

  • Betterment Now Wants Your Liquid Cash, Too.
  • Finovate Alums Honored at PayTech Awards 2019.
  • BlueRush Inks IndiVideo Deal with Nikia Dx.

Around the web

  • DriveWealth announces collaboration with U.S.-based registered investment advisor Vested Finance to give investors in India access to U.S. stock.
  • Mastercard forges new partnership with SumUp, boosting the number of electronic payment acceptance locations across 27 countries in Europe.
  • Singapore-based Cheers Paytech chooses core banking technology from Mambu.
  • New Zealand’s seventh largest bank, TSB, goes live with Temenos Infinity for online account opening and onboarding.
  • ThetaRay launches version 4 of its analytics platform to help banks detect and prevent cybercrime.
  • BeSmartee announces direct integration with real estate document collaboration and recording technology solution provider Simplifile.

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

On Finovate.com

  • Ping Identity and TIBCO Partner to Provide Advanced API Security Solutions

Around the web

  • ThetaRay wins the Software & Applications – Analytics category of the 2019 Fortress Cyber Security Awards.
  • Artivest appoints Karl Jaeger as Chief Financial Officer.
  • Arkansas Money & Politics features Finovate Best of Show winner Invest Sou Sou.
  • Beyond Protection highlights Enzoic in its list of top leading cyber security solution providers.
  • Onfido to help lead new identity verification and binding working group of The Fido Alliance.

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.

Cybercrime Fighter ThetaRay Announces Strategic Investment from ABN AMRO

A new strategic investment from ABN AMRO Digital Impact Fund “strengthens the current operational relationship” between the bank and Israel-based cybersecurity innovator ThetaRay, fund director Hugo Bongers said today. The investment, amount undisclosed, adds to the company’s reported $66.5 million in funding.

ThetaRay leverages its big data analytics platform and solutions to provide advanced cybersecurity and risk mitigation for financial services companies. The company, founded in 2013, demonstrated its technology at FinovateFall 2015, and showed how its approach to anomaly detection provides protection against unknown, next generation cyberattacks while delivering low-false positives. ThetaRay’s IntuitiveAI platform helps spot money laundering activity, fraud, and dangerously risky loans, as well as helps firms become more efficient operationally and identify new potential growth areas.

“We’re very proud that ABN AMRO, a customer that benefits from ThetaRay’s intuitive artificial intelligence technology to combat financial cybercrime and operational failures, has now also become an investor,” ThetaRay CEO Mark Gazit said. He praised the company as a “visionary” that recognizes the role of AI-enabled technologies to help financial services companies better serve their customers. “We see ABN AMRO Digital Impact Fund as a true partner for creating a safer world,” Gazit said.

ThetaRay is not the first Finovate alum to receive funding from ABN AMRO Digital Impact Fund. The €50 million corporate venture entity has also invested in Tink, BehavioSec, and Cloud Lending Solutions. The strategic nature of the firm’s investment in ThetaRay, however, brings with it specific dividends, according to Bongers. “ABN AMRO stands to benefit from access to the Israeli ecosystem of cybersecurity and financial crime detection firms, as well as the leading venture capital investors operating in this business, such as JVP (Jerusalem Venture Partners) and OurCrowd,” he said.

Named one of 10 Security Startups to Watch by Network World earlier this year, ThetaRay was honored by the 2019 Fortress Cyber Security Awards last month, earning recognition in the Software & Applications category. The company added veteran marketing talent in May, hiring former Arachnys and Axioma executive Steve Mann as its new CMO.

Finovate Alumni News

On Finovate.com

  • Bento Unveils Venmo Style Digital Payments Solution for SMEs.
  • Cybercrime Fighter ThetaRay Announces Strategic Investment from ABN AMRO.

Around the web

  • Identitii wins award for Best Workplace Diversity at The Finnies 2019.
  • InComm launches barcode payment solutions at DFS Duty-Free stores in Japan.
  • Klarna expands its UK operations with a new office in Manchester.
  • INTELid.io to integrate ValidSoft’s voice biometrics into its private digital identity blockchain.

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

On Finovate.com

  • Marqeta Secures $260 Million in Series E Funding.
  • Fundopolis Turns to AlphaPoint for Tokenization Initiative.

Around the web

  • Mastercard partners with Samsung Electronics to develop mobile digital verification solutions.
  • YellowDog appoints James Stevens as its new Chief Commercial Officer.
  • Chile’s largest acquirer Transbank to deploy UP Retail Payments solution from ACI Worldwide.
  • ThetaRay adds Steve Mann as Chief Marketing Officer.
  • Spectrum Equity closes sale of Ethoca to Mastercard.

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

On Finovate.com

  • nCino Lands New Customers from Stockholm to Sydney.
  • TurnKey Lender Locks in New Investment from OSK Ventures.
  • CREALOGIX Helps Launch Mobile Banking for Hampden & Co.

Around the web

  • Fiserv inks partnerships with HealthCare First Credit Union and Portland Local 8 Federal Credit Union.
  • Kontomatik earns license from Bank of Lithuania to operate as an AISP in 11 EU countries.
  • Palestine Islamic Bank to deploy Temenos Infinity and Temenos T24 systems as part of its digital transformation efforts.
  • ThetaRay and HackerOne named to Network World’s 10 Security Startups to Watch.
  • Retail finance technology provider Deko teams up with Featurespace to enhance security on its lending platform.
  • Onfido announces partnership with INTERPOL to help the international police organization better spot fraudulent IDs.
  • CAP Services chooses Baker Hill to support its lending initiatives for small businesses and low-income individuals.

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.