Finovate Alumni News

On Finovate.com

  • Finicity Teams Up with Capsilon to Modernize Mortgage Origination.
  • CardFlight’s New Release Adds Paper Receipt Printing, Advanced Security, and More.

Around the web

  • iSignthis acquires core banking technology provider Probanx.
  • Entersekt taps Christian Ali as new country manager for Canada.
  • Jack Henry & Associates’ ProfitStars division unveils new online, anti-fraud monitoring and reporting technology.
  • Chris Savides named new global Chief Operating Officer at TransferTo.
  • Cortera announces partnership with Moody’s Analytics in new RiskCalc SMB solution.
  • PayNearMe powering Buildium’s Retail Cash Payments, a feature that allows residents to pay rent in cash.
  • Lendio Franchising has helped facilitate $16 million in financing to 500+ SMBs and reports a 111% percent increase in loans funded quarter over quarter.
  • Persado announces Persado for Salesforce on Salesforce AppExchange.

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

  • Figure Eight (formerly CrowdFlower) Collaborating with Google Cloud on Machine Learning.
  • Zooz Acquired by PayU in Deal Valued at More than $80 Million.

Around the web

  • Currencycloud announces new CRO Nick Cheetham.
  • Rabobank to leverage ACI Worldwide’s ACI Issuer to manage and modernize its card portfolio business.
  • TransferTo teams up with distributed, open-source blockchain platform, Stellar.org to make cross border money transfers easier.
  • Infosys Finacle to power Ayeyarwaddy Farmers Development Bank’s digital transformation.
  • The Silicon Review names Arxan and IdentityMind Global among 50 best companies to watch in 2018.
  • Prosper moves from providing investors estimated return data to historical return data.

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 Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • Revolut announces recruitment initiative in Kraków, Poland to hire 100 new workers in a single day employment in its offices in Eastern Europe.
  • Forbes features Tinkoff Bank in look at Russia’s efforts to develop its digital economy.
  • Polish financial group Aforti Holdings to launch non-bank lender for SMEs and startups in Romania.

Asia

  • Banks in South Korea to introduce blockchain based identity verification for mobile and online logins. The technology is reportedly built on a private blockchain system developed by Samsung SDS.
  • Daon Partners with Tradelink to Bring Biometrics to Dah Sing Bank.
  • Bank of Thailand is developing and testing blockchain apps in its regulatory sandbox.

Middle East and Northern Africa

  • Financial technology services firm, One Global, discusses plans for expansion into Egyptian market.
  • ADGM Reglab reports record number of fintech applications for its third cohort.
  • Abu Dhabi Securities Exchange turns to Equifax for advice on development of new technologies to improve operational efficiency.

Africa

  • TransferTo, Orange Money Botswana, and EcoCash partner to support digital money transfers between Zimbabwe and Botswana.
  • IMF review of South Africa suggests “increased focus on the role fintech …” could access to credit for SMEs and promotion broader financial inclusion.
  • Nigerian startup, Piggybank.ng, raises $1.1 million to further develop its online savings platform.

Latin America

  • Diario Financiero interviews Ángel Sierra, executive director of La Asociación Fintech Chile, on digital innovation (video in Spanish).
  • TransferWise initiates service in Argentina.
  • PayU goes live in Colombia with its PayU te fía (PayU You Trust) solution that enables borrowers to extend repayment terms (in Spanish).

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • BeSmartee Integrates with FormFree’s AccountChek Asset Verification Service.
  • 280 CapMarkets Unveils 280 Advisor Services.
  • Quovo Unveils New Solutions for Loan Originators and Servicers.

Around the web

  • cyberProductivity joins DBS Accelerator in Hong Kong.
  • PayPal, Safaricom, and TransferTo team up to make it easier for Kenyans to transfer money between their M-PESA and PayPal accounts.
  • Former Goldman Sachs executive, Michelle Gill, named new SoFi CFO.
  • Bpm’online partners with ChessIT for smart CRM and business processes.
  • Dwolla enhances Transport Layer Security.
  • Baker Hill updates NextGen Omni-Channel Marketing to include P2P normative analysis to identify the most profitable cross-sell opportunities.

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

  • FinovateEurope Best of Show Winners Announced.
  • Welcome to Day Three of FinovateEurope.

Around the web

  • Ripple partners with Japanese banking consortium to launch mobile payments app, MoneyTap.
  • S&P Global to acquire Kensho in cash and stock deal valued at $550 million.
  • Banque du Caire to deploy core banking technology from Temenos.
  • TransferTo and Sentbe team up to provide real-time money transfers from South Korea to more than 60 countries.
  • Coinbase unveils new index fund to provide investors with exposure to all digital assets on its GDAX exchange.
  • Entersekt launches Connekt, a digital commerce enablement solution that makes it easy to add new payment services to banking apps.
  • Finicity partners with MortgageHippo to streamline and accelerate the verification process in mortgage lending.
  • Baker Hill announces strategic alliance with Built Technologies, a Tennessee-based construction lending software provider.

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.

TransferTo Adds Digital Wallet to Payments Network via Cellum Partnership

Courtesy of a new strategic partnership, European mobile wallet provider Cellum will provide its international money transfer services by way of TransferTo’s cross-border mobile payments network. “Cellum is always looking at ways to expand its portfolio with meaningful services that allow us to offer even more value to our partners,” Cellum CEO János Kóka said. “Our strategic partnership with TransferTo strengthens our position as the one-stop mobile wallet provider of choice in Southeast Asia and beyond.”

“We are happy to collaborate with Cellum and open the doors for their partners to reach our global network, and look forward to the opportunity of expansion by adding further digital wallet providers,” TransferTo CEO Peter De Caluwe added.

Founded in 2006, TransferTo enables FIs and digital financial service providers around the world to offer international mobile airtime top-ups and money transfers to and from emerging countries. TransferTo’s real-time network reaches more than 135 countries, connecting mobile money operators, wallet providers, and money transfer operators with banks, FIs, NGOs, and e-commerce merchants.

The company demonstrated its Mobile Money Hub at FinovateFall 2015. Last month, TransferTo and banking software provider Fern Software were awarded a grant from the United Nations Capital Development Shaping Inclusive Finance Transformation (SHIFT) Challenge Fund. The goal of the fund is to use remittances to improve the financial lives of women in Cambodia, Lao PDR, Myanmar, and Vietnam. Also in November, TransferTo announced the hire of a new VP for Business Development, Djibril Diallo, to lead operations in West and Central Africa, and added a new Chief Financial Officer, Dan Gardner, who is a former executive at Transfast and Payscout.

This fall, TransferTo reported 8x revenue growth in international money transfer transactions over the past six months with more than six million transactions. The company partnered with South East Asia’s leading mobile ride-hailing platform, Grab, to facilitate real-time earnings payouts for Grab drivers, and teamed up with IN Switch to support international money transfer services in Latin America.

TransferTo has raised $6.5 million in funding and includes STC Ventures and Ingenico Healthcare/e-ID among its investors. Peter De Caluwe, the company’s current CEO, joined the company in May as global Chief Operating Officer and was promoted to chief executive in August when TransferTo founder Eric Barbier transitioned to the role of President and board member. The company is headquartered in Singapore with offices in Dubai, London, and Miami.

Finovate Alumni News

On Finovate.com

  • TSYS to Acquire Cayan for $1.05 Billion
  • TransferTo Adds Digital Wallet to Payments Network via Cellum Partnership

Around the Web

  • GoodData appoints James Smith as chief marketing officer.
  • Passport and TransLink partner to develop and launch Park&Go, an app for Vancouver Park and Ride payments.
  • Tucson FCU implements NCR’s Interactive Teller software to allow members to bank face-to-face with a live teller from their cars.
  • Azimo introduces near-instant, 24/7 money transfers to Nigeria.
  • ThreatMetrix exceeds 45% Annual Growth.
  • The Real Estate Crowdfunding Review ranks CK Mack, Realty Mogul, & Patch of Land in its list of top 100 real estate crowdfunding sites.
  • Fortune features Pindrop’s AI voice recognition.

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.

TransferTo and Fern Software Receive Grant from UN Capital Development Fund

 

 

 

 

 

Cross-border mobile payments network TransferTo and banking software provider Fern Software have both been awarded a grant as a part of the United Nations Capital Development’s Shaping Inclusive Finance Transformation (SHIFT) Challenge Fund.

The goal of the SHIFT Challenge Fund is to leverage remittances to improve the economic power of women in Cambodia, Lao PDR, Myanmar, and Vietnam. TransferTo and Fern Software have been summoned to deliver seamless money transfer solutions to underbanked individuals in this region. The two will use the funds to combine TransferTo’s global network, which links mobile operators, money transfer operators, digital wallet providers, financial institutions, NGOs, and merchants, with Fern Software’s global microfinance solution software. Ultimately, the companies plan to accelerate TransferTo’s entry into Cambodia, Lao PDR, Myanmar, and Vietnam and enable microfinance institutions to become money transfer recipients on TransferTo’s cross-border money transfer network.

TransferTo CEO, Peter De Caluwe said that the company is “fortunate” to bring its payment system into the new regions. “Our goal is to enable access to digital financial services, especially for women who represent over 50% of the population in these markets, yet lack access to traditional banking … we can drive financial inclusion and women’s economic empowerment across the region, and globally,” he said.

Fern Software Managing Director APMEA, Debbie Watkins said, “The valued support of UNCDF in connecting the TransferTo Network to ours will enable migrant workers for the first time to send transfers directly to microfinance institution loan or savings accounts, giving them control in how their hard-earned salaries are put to use and increasing accessibility for their family members.”

TransferTo most recently demonstrated its Mobile Money Hub at FinovateFall 2015. Earlier this month, the company was selected by driver service Grab to power real-time earnings payouts for Grab drivers. In June, TransferTo partnered with the MallforAfrica to provide African shoppers with access to retailers in Europe and the U.S. TransferTo was founded in 2005 and has raised $6.5 million.

Founded in 1979, Fern Software demoed BayTree, a scalable “Pay as you Grow” API Banking CRM software service, at FinovateFall 2015. Earlier this year, the company made its platform available in Russian. Eamon Scullin is CEO and founder.

Finovate Alumni News

On Finovate.com

  • TransferTo and Fern Software Receive Grant from UN Capital Development Fund
  • EyeLock Partners with ViaTouch to Bring Iris Authentication to Smart Shelf Vending
  • Betterment Celebrates the Season of Giving with New Share Donation Feature

Around the web

  • PPRO, Klarna team up for credit payment methods across Europe.
  • Mastercard plans its own blockchain.
  • GeoAwesomeness profiles San Francisco startup, MapD.

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

  • Token Forges Strategic Partnership with Envestnet | Yodlee.

Around the web

  • ACI Worldwide to provide “technology backbone” for real-time payments platform designed by Payments Network Malaysia.
  • NCR partners with Samsung to launch new all-in-one POS commerce station, NCR Silver Quantum.
  • Grab chooses TransferTo to deliver real-time digital payments to its drivers in Southeast Asia.
  • Meniga wins London Design Awards for brand design experience.
  • PayPal’s TIO Networks suspends operations to protect TIO’s customers.
  • Kinecta FCU to Offer Mortgage Harmony’s CU RateReset products.
  • App Informers lists Credit Karma and Credit Sesame in list of top 5 Identity Monitoring Apps for 2017.

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.