Finovate Alumni News

On Finovate.com

  • Dream Payments Closes $10 Million Series A.

On FinDEVr.com

Around the web

  • Xceptor opens new office in New York.
  • Kabbage nabs $500M for small business loans.
  • Tradeshift to acquire Capgemini’s IBX Business Network.
  • Segmint listed in the Gartner Magic Quadrant for Digital Marketing Hubs.
  • Fidor partners with Van Lanschot to create the first PSD2-inspired Payment Avenue.
  • Poland’s Idea Bank creates accounting program for Uber drivers.
  • MX to power digital money management tools for Travis CU.

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

  • Women on the Finovate Stage.

On FinDEVr.com

  • Check out this week’s FinDEVr APIntelligence.

Around the web

  • mBank partners with Cloudera to handle its big data processing.
  • Careington Health Products leverages SmartCART platform from Insuritas to deploy advisor services and discount programs.
  • BBVA Compass adds cash-back incentive to stimulate interest in mobile banking app.
  • Fiserv launches Credit Sense, combining credit monitoring with digital banking.
  • Kontomatik nominated at the Dutch FinTech Awards 2017.
  • PayPal partners with Oro ecommerce platform.
  • Arxan Application Protection named Best IoT product at the 2017 Cybersecurity Excellence Awards.
  • Zopa wins Top Consumer Lending Platform at LendIt awards.
  • Pindrop to mitigate call center fraud for Credit union service organization PSCU.
  • Motif jumps on the robo advisor bandwagon.
  • Tradeshift to acquire Capgemini’s IBX Business Network.
  • Linqto and Western Independent Bankers Launch New Apps Store for Banks.

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

  • Narrative Science Brings Automated Portfolio Analysis to FactSet Platform.

Around the web

  • Vantiv to provide debit, credit, and ATM processing services for Financial Technology Solutions International. Join Vantiv at FinDEVr New York next month.
  • Tradeshift clients gain access to Biz2Credit ‘s small business lending marketplace courtesy of new agreement.
  • Massachusetts-based bank, Salem Five ($4.2 billion in assets) picks Fiserv as its new technology partner.
  • D3 Banking promotes former VP of Development, Jeff Marshall to Chief Technology 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.

Finovate Alumni News

On Finovate.com

Around the web

  • Crealogix selects Philippe Wirth as new CFO starting in May.
  • QIIB to deploy Sharia-compliant, core banking technology from Misys.
  • Wipro announces new partnership in and investment with Tradeshift.
  • Skipton International to upgrade its legacy platform with core banking technology from Temenos.
  • Avoka names former KPMG executive Matt Lewis as new CFO. Join Avoka in London for FinovateEurope in February.
  • Vantiv partners with CardFlight to Offer EMV Mobile POS Solution.
  • Equifax and Fiserv join forces to provide income and employment verification services to auto lenders.
  • Forbes features GainX founder Angelique Mohring. Come see GainX’s demo live at FinovateEurope next week.

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.

Tradeshift Earns Undisclosed Investment from Santander

tradeshift_homepage_december2016

Tradeshift is the latest company to pick up an investment from Santander InnoVentures, the fintech-based venture capital fund run by Santander Group. The new capital will help Tradeshift develop its supply-chain finance platform and add to the company’s B2B marketplace.

Terms of the investment were not disclosed. Tradeshift had raised more than $190 million in total capital ahead of this week’s investment, with its latest infusion of capital a $75 million funding round led by Data Collective from this summer.

Calling Santander “a natural fit,” Tradeshift CEO and Chairman Christian Lanng praised the Spanish bank for its history of collaborating and partnering with its portfolio companies. “We are excited by the opportunities this investment will create to explore new offerings and different geographies around the world,” Lanng said. Santander InnoVentures’ managing partner Mariano Belinky said Tradeshift is “at the forefront of tackling a very real business need” and using innovative technology to do so.

“Tradeshift has built an open business network on a scalable cloud-first platform that is extensible by third-party applications,” Belinky explained. “This architecture is a key differentiator. As a result, the potential to provide complimentary and added-value services around the Tradeshift platform is particularly powerful.

The investment news comes just days after Tradeshift announced the launch of a pair of new joint ventures in China. The initiatives are designed to help meet the country’s growing demand for supply-chain digitalization and feature partnerships with Shenzhen XunLian Technology Development Company in Chongqing, and Chinese tax-related services provider, Baiwang. “Our platform vision puts both buyers and their suppliers at the center of our value proposition,” Tradeshift SVP of Asia Pacific, Mikkel Hippe Brun said during the joint venture announcement. “(It) is proving to be a natural fit in China’s trade ecosystem as it is everywhere else,” Brun said. Earlier this fall, the company announced expansion to Australia and New Zealand, and was named to Battery Ventures/Glassdoor’s 50 Highest Rated Private Cloud Companies to Work For. In June, Tradeshift introduced its B2B virtual assistant for managing business and travel expenses, Go.

Founded in 2010 and headquartered in San Francisco, Tradeshift demonstrated the Instant Payments feature of its platform at FinovateEurope 2012. Tradeshift’s platform links 800,000 companies across 190 countries.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: Bluescape Helps Banks Create Products from Napkin Sketches”
  • “Tradeshift Earns Undisclosed Investment from Santander”

Around the web

  • Fenergo rises 25 places in global Chartis Research’s RiskTech100 rankings.
  • Blackhawk Network partners with Apple to offer ApplePay rewards.
  • The Australian reports: OurCrowd goes on start-up funds-drive.
  • SafetyPay and VTEX sign a global agreement for electronic commerce.
  • Expensify selected as preferred expense-management solution by the AICPA and CPA.com.
  • Professional Planner quotes SuiteBox CEO Ian Dunbar in discussion on technology and millennials.
  • Top Egyptian retail FI, housing and development bank goes live with Temenos core banking solution.
  • Avanzia Bank and TSYS renew card-processing partnership.

This post will be updated throughout the day as news and developments emerge. Follow our alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Seattle-Based Finagraph Completes $5 Million Financing.

Around the web

  • TSYS inks agreement to process debit transactions for Virgin Money’s U.K. customers.
  • Marcus by Goldman Sachs deploys Infosys Finacle core banking technology.
  • FIS to offer Early Warning’s Zelle Network P2P service as part of real-time payments package.
  • Corezoid achieves Amazon Web Services (AWS) Financial Services Competency status.
  • Cachet Financial Solutions rolls out prepaid mobile-money-platform upgrade.
  • Tradeshift launches two new joint ventures in China to meet demand for supply-chain digitalization.
  • Cortera launches Cortera Decisions, a new automated scorecard platform.
  • Taulia to power supply-chain finance solution for Exostar.
  • CHROME FCU taps NYMBUS for SmartCore digital banking.
  • Ripple hires former CME Group executive Miguel Vias as head of XRP (extended resource planning) markets.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • IBM Goes Behaviorally Biometric with New Additions to Trusteer Pinpoint Detect
  • DemystData lands $7 million round.

Around the web

  • New office in Sydney marks TradeShift’s expansion to Australia and New Zealand markets.
  • Bill.com partners with Quicken Loans, driving speculation the two will work on digital billpay.
  • Marqeta to deploy its network tokenization technology to make it easier to use payment cards with Apple Pay.
  • Signifyd teams up with Accertify to improve anti-fraud protections and reduce chargeback costs.
  • Free Enterprise highlights the biometric technology of Best of Show winner EyeVerify.
  • Personal Capital Appoints Eric Weiss as Chief Marketing Officer
  • NuData to power behavioral biometric security for Early Warning’s Zelle.

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

  • Boku Lands $13.75 Million in Venture Funding

Around the web

  • Tradeshift, Taulia, and GoodData earn spots on Battery Ventures/Glassdoor’s “50 Highest Rated Private Cloud Companies to Work For” roster. See GoodData next week at FinovateFall in New York.
  • Sesloc FCU picks Symitar Episys core system from Jack Henry & Associates for in-house processing.
  • Q2 announces redesign of its corporate website.
  • First Annapolis interviews Cardlytics CEO Scott Grimes, co-founder.
  • NCR honored by 2016 Industrial Design Excellence Awards.
  • NuData Security Included in Industry Analyst Reports by Gartner for Fraud Detection
  • Top Image Systems names Brendan Reidy CEO.
  • Worldpay renews Ingenico terminal contract.

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.

Tradeshift Unveils ‘Go,’ the First B2B Virtual Assistant for Managing Business Expenses and Travel

Tradeshift_homepage_June2016

When you’re looking to make an impression in a new market, coming up with a first-of-its-kind technology is a great way to start.

Tradeshift, the San Francisco company whose open business network connects 800,000 buyers and suppliers across more than 190 countries, unveiled the world’s first B2B virtual assistant for business spending this week. The solution, Tradeshift Go, eliminates the tedium of requesting, approving, and processing business expenses. The virtual assistant uses a conversational UI to make interaction natural and easy, and its virtual card technology limits fraud, maintains transparency, and ensures administrative control. And courtesy of Tradeshift’s acquisition of chat-based travel assistant app, Hyper Travel, Tradeshift Go can also be used to tackle another business pain point: booking travel arrangements.

Tradeshift_Go_VirtualCardIssuance

During a briefing with Tradeshift’s Sarika Garg, SVP/GM, network and apps, and John Eng, SVP, brand and marketing, the team explained how Tradeshift Go solves a major challenge for middle-sized businesses for whom most procurement solutions were “too heavy and inefficient.” Geared toward businesses with staffs between 50 and 2,000 employees, Tradeshift Go gives Tradeshift_Go_iOS_highresworkers the ability to make business purchases via a pre-approved, single-use virtual credit card that is billed to a corporate card. The employee never sees the corporate card number, and the employer has 100% visibility in real-time on how much and what is being purchased. Compare this, Eng suggested, to the typical situation of the financial officer who doesn’t learn what company funds were actually spent until after they are spent.

Tradeshift Go is available for free at the iTunes store, with Android versions of the app “coming soon.”

Garg and Eng discussed how the solution was an example of how AI and machine learning can “transform age-old problems at work” into “consumer-grade experiences.” It also represents Tradeshift’s new focus on the challenges of medium-sized businesses. The team suggested that additional “skills” beyond travel booking could be added to the Tradeshift Go platform including legal, temporary labor/consultant hiring, and other areas. Tradeshift says it is actively working with partners to add these features to the platform in the future. “We are democratizing access to expertise and buying power of large companies,” Eng said. “(Tradeshift) is changing the landscape of what’s available (to middle market businesses).”

Early feedback has been positive. MyStartupCFO.com, which handles financing and accounting for hundreds of startups, is one of the ten companies piloting Tradeshift Go. “Being nimble and having transparency is important,” MyStartupCFO.com CEO Sandeep Shroff said. “Go gives us both and will save us a ton of time.”

Founded in 2009 and based in San Francisco, California, Tradeshift demonstrated its Instant Payments technology at FinovateEurope 2012 in London. The company has raised $174 million in total capital; its most recent investment was a $75 million capital infusion in June led by Data Collective. Also in June, Tradeshift announced that it was partnering with kompany to automate KYC and KYB verification. The company teamed up with Chinese taxation services firm, Baiwang, in March, the same month it was named to the Tech Tour 2016 Growth 50. Christian Lanng is co-founder and CEO.