Finovate Alumni News

On Finovate.com

  • RightCapital Inks Strategic Partnership with Financial Advisor Association

Around the web

  • Envestnet | Yodlee forges data sharing agreement with JP Morgan Chase.
  • Temenos partners with CWB Financial Group.
  • DriveWealth teams up with SBI Thai Online Securities, bringing access to U.S. stocks to Thai investors.
  • Open banking platform Tink announces expansion to Portugal and Italy.
  • New partnership with Smart Pension will enable Revolut to offer its business customers the ability to automate monthly pension contributions.
  • Artivest announces new partnership with Wellington Management.
  • Paysend introduces worldwide money transfers to Uzbekistan.
  • Jumio takes home top honors in the “Software Security Enterprise Product of the Year” category at the 2019 Best in Biz Awards.
  • Finastra inks deal with Pancreta Bank of Greece to deploy its Fusion Risk solution to help automate regulatory reporting.

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

  • Finovate Alums Earn Spots on Deloitte’s 2019 Technology Fast 500
  • TransferWise Teams Up with GoCardless to Launch Global Network for Bank Debits
  • Finovate Global: Saudi Arabia Bets Big on Fintech; Sberbank Unveils Russian Supercomputer

Around the web

  • Worldline and Bitcoin Suisse partner to enable use of cryptocurrencies at the point of sale.
  • Ripple’s RippleNet tops 300 customers.
  • Tink hires Stripe’s former head of EMEA banking as its new Country Manager for the U.K. and Ireland.
  • DemystData makes Equifax data assets available on its marketplace in expansion of current partnership.
  • Fenergo earns recognition from Chartis Research in its RiskTech 100 2020 report as a category leader for Client Lifestyle Management and Know Your Customer.
  • RISQ Intelligent Software International and Compliy win finalist spots in the Monetary Authority of Singapore’s Global FinTech Hackcelerator.
  • Sensibill named a “Company to Watch” in Deloitte’s Technology Fast 50 Awards.

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

  • Paper.id lands funding to power digital invoicing for SMEs in Indonesia.

Around the web

  • BlueVine launches BlueVine Business Banking.
  • Salt Edge unveils Salt Edge Authenticator for strong customer authentication and dynamic linking.
  • Jack Henry’s PayCenter helps first 15 bank clients join RTP network.
  • AccountScore and Equifax debut credit risk index to help lenders better understand loan applicants.
  • Personal Capital celebrates 10 years in wealthtech with a brand refresh.
  • MX ships new tool to help consumers manage and cancel recurring subscriptions.
  • Swaper’s three years milestones: 2800 investors have funded over 7 million Euros in loans.
  • Envestnet | Yodlee releases Intelligent APIs to further personalize financial wellness tools.
  • myGini completes PCI Level 1 compliance audit.
  • FinTech Global recognizes Insuritas as InsurTech 100 Member.

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

  • Voleo Teams Up with Software Development Firm Convergence Concepts.
  • Finn.AI’s New Integration Makes Chatbots More Personal.
  • Ripple to Offer Blockchain Technology through Finastra.

Around the web

  • Salt Edge reaches milestone of 500+ integrated open banking APIs.
  • Tink makes its platform available in the Netherlands.
  • Stratifyd teams with Anexinet to scale delivery of its AI-powered analytics platform.
  • TASCET releases SYM Certain software suite.
  • Microblink earns a spot in the Deloitte Fast 500.
  • Vymo teams up with ABeam Consulting to expand its business in the Asia-Pacific region.
  • YUKKA Lab joins Plug and Play’s incoming cohort for its Insurtech Europe program.
  • Socure wins 2019 API Award for Best in Data APIs from API World.

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.

Tink Teams Up With Portugal’s Caixa Geral de Depositos

Portugal’s banking heavyweight, Caixa Geral de Depósitos (CGD), has inked a new partnership with Swedish open banking platform Tink, reports Tanya Andreasyan of Fintech Futures (Finovate’s sister publication).

CGD’s newly launched app – Dabox – has Tink’s products integrated into it, namely aggregation payment initiation, data enrichments and personal finance management (PFM). Tink’s cloud-based open banking platform will underpin the app, which is now being rolled out to CDG’s domestic customer base of four million people. The vendor said it will help customers “to make smarter financial decisions.”

Tink has been working with Portugal-based payments processor SIBS, helping the country’s APIs to meet the standard required under PSD2 regulations. The implementation period took six months in total, says Tink, including integrating the PSD2 APIs, applying machine learning (ML) to all categories and launching PFM in Dabox.

“The open banking movement is fundamentally changing the financial services industry – transforming how millions of customers engage with banking services,” said Daniel Kjellén, co-founder and CEO of Tink. He described CGD as “a forward-thinking partner” and says Dabox will give CGD’s customers “a complete overview of their financial lives.”

The new app, which is launched today (24 September) will enable users to see their current accounts from all Portuguese banks and make payments and transfers between these accounts.

CGD “is undergoing a major digital transformation,” said Maria João Carioca, executive board member of CGD. Tink – “an innovative and challenging partner” – will enable the bank “to combine innovation and a ‘fresh look’ on the financial business with the universal service and trustworthiness that have been CGD’s trademark,” Carioca added.

CGD is largest bank in Portugal, wholly owned by the state since its inception back in 1876. It is a universal bank offering commercial and investment banking, asset management and specialised financing services. It has total assets of over €91 billion.

Founded in Stockholm in 2012, Tink has 250 employees and works with the likes of PayPal, NatWest, SEB, ABN Amro, BNP Paribas Fortis, Nordea and Klarna. Insight Venture Partners, Heartcore Capital, SEB, Creades, Nordea Ventures, ABN Amro Digital Impact Fund and PayPal are investors in Tink.

Tink demonstrated its API platform at FinovateEurope 2019

Finovate Alumni News

On Finovate.com

  • Drumroll … Finovate Award Winners Announced

Around the web

  • Technology from Tink helps power the new PFM app, DABOX, from Portuguese bank Caixa Geral de Depósitos (CGD).
  • Juvo introduces its Financial Identity-as-a-Service (FiDaaS) technology suite.
  • MX teams up with U.S. Bank to provide customers with secure access to their financial data.
  • FICO forges KYC/AML partnership with Dutch PSP Visma Connect.

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

  • Trends at FinovateFall: The Big, the Small, and the Surprises
  • DefenseStorm Launches New Fraud Monitoring Solution
  • From Start-up to Scale-up: Token Introduces New CEO Todd Clyde
  • Temenos Buys Kony to Boost its Front Office Technology for Banks

Around the web

  • PayActiv partners with Fiserv to streamline access to earned wages.
  • ABN Amro teams up with open banking solution provider Tink to bring multi-banking functionality to the bank’s Grip app.
  • Avaloq appoints Imad Abou Haidar as its new Head of Asia.
  • BeSmartee launches its new Mortgage Loan Officer (MLO) Command Center for loan originators.
  • Marqeta to create 175 new jobs in 2019, growing its workforce beyond 400 people.
  • SparkPost unveils new SparkPost Recipient Validation service, a sender reputation protection service that helps eliminate harmful bounces.
  • Azimo’s Richard Ambrose moves from COO to CEO, replacing Michael Kent.

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.

Tink Secures Strategic Investment from PayPal

PayPal has joined Team Tink.

Swedish open banking solution provider Tink announced today that PayPal is its latest investor and customer. In a blog post sharing the news, the Swedish company called the investment and partnership a “major vote of confidence in our tech and an indicator of the strength of the open banking movement in Europe.”

Today’s investment from PayPal adds $11.2 million (€10 million) to Tink’s capital, boosting the fintech’s funding total to more than $105 million. As Tink’s newest partner, the payments giant plans to leverage Tink’s account aggregation technology to enable its European customers to connect their bank accounts to their PayPal accounts.

“It’s a testament to the versatility of our technology,” the company wrote on its blog on Tuesday, “it can be implemented to improve a range of use cases for businesses big and small.”

Offering account aggregation and payment initiation services via a single, API integration – as well as data enrichment and categorization and PFM services – Tink empowers fintechs to maximize the opportunities of open banking. More than 1,400 developers are using Tink’s API platform to access financial data from hundreds of banks and financial institutions in markets across Europe. This access is paving the way for what the company called “the next generation of financial services.”

VP of global markets and partnerships for PayPal, Jennifer Marriner echoed Tink’s enthusiasm for the transformative potential of open banking. “Tink has developed the infrastructure and data services for this new financial world – and we’re excited to work together to continue to democratize financial services,” she said.

Today’s funding will help drive Tink’s continued expansion across Europe. In recent months, the fintech has partnered with NatWest in the U.K., Mash in Finland, and Lunar Way in Denmark. The company began the year with both a big funding – picking up $63 million (€56 million) in a round led by Insight Venture Partners – and a big expansion, going live in five new European markets. Tink demonstrated its API platform at FinovateEurope earlier this year. Founded in 2012, the company has 150 employees and 500,000 users of its PFM app.

PayPal and Braintree presented Making Payments Fun at our developers conference, FinDEVr Silicon Valley, in 2014. PayPal also demonstrated its Instant Account Creation solution at FinovateEurope 2012. Trading on the Nasdaq under the ticker symbol PYPL, PayPal has a market capitalization of $127 billion. The San Jose, California-based company was founded in 1998.

Finovate Alumni News

On Finovate.com

  • Tink Secures Strategic Investment from PayPal.
  • InComm Buys Hallmark Cards Subsidiary.

Around the web

  • ACI Worldwide makes strategic investment in Indian digital payments company Mindgate Solutions.
  • Currencycloud and VISA forge partnership to fuel innovation in cross-border and travel payments.
  • Trulioo partners with Refinitiv to improve access to digital identity solutions.
  • German open digital identity scheme yes.com to integrate into Signicat’s Digital Identity Platform.
  • Splitit appoints former Intuit and PayPal Exec to lead North American operations.

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

  • Q2 and ALTR Leverage the Blockchain to Boost Data Security.
  • Neustar Helps TELUS Fight Caller ID Spoofing.
  • Fintech OS Raises $1.2 Million.
  • Personetics Unveils AI-Enabled Small Banking Solution.
  • SparkPost Launches Predictive Email Intelligence Platform.

Around the web

  • Meniga opens an office in Barcelona, Spain.
  • Coinbase extends support for USD Coin (USDC) trading in 85 countries.
  • Finastra hires Mark Miller as new Chief Financial Officer.
  • Fenergo announces API integration with global financial markets data provider Refinitiv.
  • Hastings Direct extends deal with Equifax by signing a multi-year deal.
  • SDC and Tink partner to give 120 Nordic banks access to account aggregation and payment initiation services.
  • Kony Quantum powers Qualifacts’ new CareLogic mobile app.
  • WireBarley partners with Currencycloud to boost its operations in the U.S.
  • Lendio named to Fortune’s Best Workplaces in Financial Services & Insurance.
  • BlueVine taps Herman Man as new Chief Product 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.