Finovate Alumni News

On Finovate.com

  • NF Innova | NFG and Mambu Team Up to Deliver New Digital Banking Solution.
  • Thinking Capital and Equifax Launch ‘Cash Flow Revolution’ for Canadian SMEs.
  • PayPal’s Pledge: CEO Commits to $3 Billion a Year in M&A Spending.

Around the web

  • AI Foundry forges integration partnership with MTS Software Solutions.
  • PaySend joins Astana International Finance Centre (AIFC), a central Asian fintech hub based in Kazakhstan.
  • Thomson Reuters expands strategic partnership with SAP to simplify costs of cross-border transactions.
  • GreatHorn welcomes Vijay Malik as its new Vice President of Engineering.
  • Nanopay plans for B2B cross border and domestic transfer service.
  • Multiple Best of Show winner Trusona launches partner program.
  • Kinetica taps Gary West as Vice President of Sales, EMEA.

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 2018 Best of Show Winners Announced

The votes have been counted and the winners of our FinovateSpring 2018 Best of Show awards have been named. Congratulations to the five companies whose live demonstrations of their latest technologies wowed our attending crowd in Santa Clara, California this week.

Every Best of Show competition teaches us something about the state of fintech innovation in the world today. How are fintechs helping improve the customer experience in lending? How can financial institutions get a better understanding of their customers needs and preferences? How can we make it safer to bank and shop – to say nothing of simply communicate – safely online without fear of interference (or worse) from cybercriminals?

This year’s FinovateSpring 2018 Best of Show winners were no exception to this rule. The companies highlighted by our Best of Show awards reflect impressive innovations across the broad spectrum of financial technologies.

Conversation.one for its build-once-deploy-anywhere platform for conversational applications that enables FIs to build, deploy, and enhance their Alexa Skills, Google Home Actions, Facebook Messenger bots, and chatbots in one single process, in just a few minutes. Video.

Dynamics, Inc. for its network-approved “connected” payment card with a 65k pixel display, organic recharge, and telecommunications chip to facilitate wireless data downloads and customer notifications. Video.

 

 

Kasasa for its Kasasa Loan that lets borrowers pay ahead to reduce debt and take that extra money back if they need it. Kasasa Loans feature a mobile app that allows borrowers to manage their debt and access take-backs instantly. Video.

Trusona for its Trusona Executive solution that enables frictionless #NoPasswords multi-factor identity authentication at scale, including identity-proofing, step-up authentication using a person’s government-issued ID. Video.

Alpharank for its innovative Customer Graphs that leverage FIs’ anonymous transaction card data to help them understand how products and behaviors spread through customer networks and how to leverage network effects to their advantage. Video.

We hope you have enjoyed the first two days of FinovateSpring. The conversation continues on Thursday and Friday as we launch into deeper dives into many of the themes introduced on the first two days of our spring conference.

From the power of AI and Big Data to the rise of voice technologies as the interface of the future, the second half of FinovateSpring will help provide both context and insight into how many of the most exciting technologies of our time are creating ever more engaging, personalized, and relevant experiences for consumers of financial services. To learn more about the keynotes, panel discussions, and fireside chats we will host on Thursday and Friday, be sure to check out our FinovateSpring 2018 agenda for Days Three and Four for more information.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The five companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2018 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018

FinovateSpring Sneak Peek: Trusona

A look at the companies demoing live at FinovateSpring on May 8 through 11, 2018 in Santa Clara, California. Register today and save your spot.

Trusona, the global leader in identity authentication, ensures the True Persona behind any digital interaction. By eliminating all static credentials, authentication becomes safer and frictionless.

Features

  • #NoPasswords, #NoTokens identity-proofing
  • Omni-channel authentication solution available on web, on mobile, in the contact center, and at a kiosk
  • Anti-replay technology ensures people are who they say they are

Why it’s great
Trusona’s brings the world a safer, delightful multi-factor identity authentication experience that can be used at scale within enterprises and with customers.

Presenter

Ori Eisen, Founder and CEO
Eisen has spent the last two decades fighting cybercrime. Prior to founding Trusona, Eisen founded 41st Parameter and was the head of fraud detection at American Express and Verisign.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Finicity Announces Full Integration with BeSmartee.
  • $500 Million Secondary Investment Boosts Credit Karma’s Valuation to $4 Billion.

Around the web

  • Jack Henry’s banking division announces that seven banks will implement its Core Director core processing platform.
  • FlexTrade to integrate Kensho into its FlexTRADER EMS real-time event feed.
  • Finastra hires new Chief Product and Technology Officer, Eli Rosner.
  • iSignthis subsidiary, iSignthis eMoney, forges payment aggregation agreement with American Express Australia.
  • Best of Show winner Trusona joins ForgeRock’s identity management platform.
  • Gartner recognizes BRIDGEi2i with an Honorable Mention in the Magic Quadrant for Data and Analytics Service Providers, Worldwide.
  • Kabbage shows loan growth via the mobile channel, with 17% of all SMB loans and 15% of total dollars accessed via its platform coming through mobile.
  • Find Biometrics interviews Deepak Dutt, president and CEO of Zighra.
  • Payfone on track to authenticate 19 billion transactions for Fortune 100 clients in 2018.
  • Fort Dodge Family Credit Union to implement Larky Engagement Platform.

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.

Japanese Telecom NTT to Distribute Trusona Technology in Japan

Identity authentication company Trusona has formed a distribution partnership with NTT Advanced Technology Corp. (NTT-AT), a large Japanese telecommunications company. This follows the Arizona-based company’s Asia Pacific launch last August, when it opened offices in Japan.

Through the partnership, NTT-AT will offer Trusona’s frictionless, password-less login solution to its enterprise customers across Japan. NTT-AT clients will have access to Trusona’s Identity Authentication Suite, a solution that replaces passwords with a dynamic, multi-factor login solution. The authentication technology is built with anti-replay technology and can be used to access any digital channel– from web, to mobile, to IoT.

“The opportunity to distribute Trusona’s technology will enable NTT-AT to offer our customers a safer and more secure identity authentication solution that completely gets rid of passwords,” said Eiji Kuwana, SVP of NTT Advanced Technology Corp. “Our company is committed to providing excellent user experience and the best possible security for our customers.”

In the press release, Kazunari Tanaka, APAC Managing Director of Trusona said that Trusona’s password-free authentication solution is “a solution that millions of consumers in Japan have been craving.” Tanaka continued, “Businesses have a responsibility to assure the security of millions of online consumers without complicating user experience.”

Founded in 2015, Trusona is used across a variety of sectors, including government, education, and financial services. The company’s CEO and founder, Ori Eisen, demonstrated Trusona’s Cloud Identity Suite at FinovateFall 2016. The Cloud Identity Suite allows end users to authenticate themselves by using the Trusona app on their smartphone to photograph a QR code on a website login page, then selecting accept on their mobile device.

In November of last year, KPMG and H2 Ventures named Trusona on the list of Emerging Stars on its Fintech 100 rankings. Earlier that year, analyst David Penn highlighted Trusona in his piece The Best Authenticators, Verifiers, and Fraud Fighters.

Finovate Alumni News

On Finovate.com

  • Japanese Telecom NTT to Distribute Trusona Technology in Japan.
  • RealtyMogul Introduces new President, Aaron Halfacre.
  • Tradeshift Launches Innovation Center to Bring the Blockchain to Business Commerce.
  • Payfone Teams Up with U.K. Mobile Network Operator.
  • Expensify Reports More than 1 Million New Users and Double the Partnerships in 2017.

Around the web

  • Auto Finance Excellence talks with AutoGravity CTO Sheng Wang, who discusses the company’s new security features.
  • Sam Maule talks with Kabbage founder Rob Frohwein.
  • F&M Bank selects Geezeo to enhance digital banking.
  • Kantox partners with BELLIN to help support SMEs expanding globally.
  • Mitek and IdentityMind announce integration to enhance their digital ID verification capacities.
  • Zopa re-opens its platform for new customers.

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.

KPMG, H2 Ventures Unveil Fintech 100 for 2017

It’s that time of the year once again: KPMG and H2 Ventures have teamed up to introduce their Leading Global Fintech Innovators roster, the Fintech 100 for 2017. The judges for this year’s Fintech 100 included more than 20 professionals from KPMG and other organizations with expertise in IT, data analytics, capital markets, financial services, and more.

This year 11 Finovate/FinDEVr alums made the Leading 50, with another 12 alums making the Emerging 50. New entrants to the KPMG/H2 Ventures roster include SoFi and Revolut among the Leading 50. All 12 the alums on the Emerging 50 are making their first appearance. See the full list.

Some of the highlights from the 2017 Fintech 100 include the observation that five of the roster’s top 10 companies are from China, as are the top three companies on the list: Ant Financial, ZhongAn, and Qudian (Qufenqi). The U.S. has a pair of companies in the top five: Oscar and Avant, and Europe and the U.K. each have one company in the top ten: Kreditech and Atom Bank, respectively.

Speaking of Asia, the Asia-Pacific region has 30 fintech companies in the top 100. The United States has 19 companies – the most from any single country – and the U.K. and EMEA areas have 41 companies in the list. The U.K. and EMEA region are also responsible for the highest number of companies on KPMG/H2 Ventures’ Emerging 50 list with 26.

With regard to sectors within fintech, the Fintech 100 breaks down as follows:

  • 32 lending companies
  • 21 payments companies
  • 14 transaction and capital markets companies
  • 12 insurance/insurtech companies
  • 7 wealth management/wealthtech companies
  • 6 cybersecurity/regtech companies
  • 4 blockchain/digital currency companies
  • 3 data and analytics companies

Alums from the Leading 50

Alums from the Emerging Stars

Safe Spaces: The Best of the Authenticators, Verifiers, and Fraud Fighters

Left to right: A representative from Alipay joins Tinna Hung, Director of Marketing for EyeVerify during a demonstration of Eyeprint ID at FinovateAsia 2016.

This month we’re highlighting the issue of security in fintech. Our first installment was our interview with ENVEIL CEO Ellison Anne Williams.

Today we use the lens of our Best of Show awards to take a look at companies innovating in the security space for financial services companies and institutions. Three security companies have won Best of Show awards in more than one conference. Biometric specialists EyeVerify and BehavioSec have both earned Best of Show trophies on three separate occasions. Interestingly, both companies won one of their Best of Show awards at FinovateAsia; BehavioSec in Singapore, EyeVerify in Hong Kong. (Speaking of FinovateAsia, remember that Finovate returns to the Far East November 7 & 8.)

Earning two Best of Show awards was Silver Tail Systems (now a part of RSA, the security division of EMC, which acquired the company in 2012). Founded in 2008 and headquartered in Menlo Park, company was a pioneer in leveraging real-time behavior analysis to spot and stop business logic abuse on financial institution websites.

BehavioSec CEO Neil Costigan demonstrating BehavioWeb and BehavioMobile at FinovateEurope 2014.

EyeVerify, which was acquired by Ant Financial last fall, announced in August that it was rebranding as Zoloz. In a blog post at the company’s website, CEO Toby Rush said the new company would be focused on providing a hosted identity platform geared toward the Asian market. “Underserved and underbanked consumers in this region are moving to mobile so quickly that they have leapfrogged biometrics adoption and identity services in other geographies,” Rush wrote. “The platform is centered around the idea that I am me, my phone should just know me, and my apps and services should know me – automatically, conveniently, and securely,” he explained.

Zoloz is headquartered in Kansas City, Missouri, and was founded in 2012. The company most recently demonstrated its technology at FinovateEurope 2017.

BehavioSec, the behavioral biometric innovator, forged a partnership with Gemalto earlier this summer, to provide end-user verification and identity solutions as FIs increasingly embrace digital technologies. “Removing bottlenecks to achieve full digitization of a business goes hand-in-hand with conquering online fraud, through a layered an collaborative approach,” Costigan said. In May, BehavioSec teamed up with fellow Finovate alum Kount, integrating its behavioral biometric technology with Kount’s fraud management platform. A partnership with Appdome this spring produced AppFusion for BehavioSec, a solution that makes it easier for app developers to add behavior-based biometric authentication to their mobile apps.

Based in Stockholm, Sweden, BehavioSec was founded in 2009. The three-time Best of Show winner most recently demonstrated its technology at FinovateFall 2015.

Making it on the Finovate stage as a security solutions provider is one challenge. Taking home a Best of Show trophy as a company dedicated to helping stop fraudulent transactions, prevent unauthorized access, and create truly “safe spaces” in a connected world is quite another. Here is the full list of security companies that have won Best of Show awards at Finovate conferences.

FinovateFall 2017

FinovateSpring 2017

FinovateAsia 2016

FinovateFall 2016

FinovateEurope 2016

FinovateEurope 2015

FinovateFall 2014

FinovateSpring 2014

FinovateEurope 2014

FinovateAsia 2013

FinovateFall 2012

FinovateSpring 2012

FinovateFall 2011

FinovateFall 2010

Finovate 2009

FinovateStartup 2009

  • Silver Tail Systems (demo)

Finovate Alumni News

On Finovate.com

  • HooYu Brings Identity Confirmation Technology to BCRemit.
  • StreetShares Raises $10.3 Million for “Shark Tank Meets eBay” Approach to P2P Lending.
  • Flywire Expands Operations in Japan, Forms Partnership with Volvo.

Around the web

  • UPS Capital launches cross-border B2B payment service powered by Payoneer.
  • Risk Ident opens new U.S. office at Cambridge Innovation Center, near Boston, Massachusetts.
  • Venmo introduces QR code feature to help users find payee profiles faster.
  • eMoney launches redesigned website with a new UX enhanced navigation and multimedia content.
  • Digiliti Money (formerly Cachet Financial Solutions) appoints interim CEO.
  • Qapital now offers checking account and debit card.
  • BBVA joins Singapore-based trade finance platform Capital and Credit Risk Manager
  • Al Masraf selects Temenos’ digital banking technology
  • Kony announces V8 release of Kony AppPlatform to help developers design, develop and deliver omnichannel apps fast.
  • Shoeboxed launches Fetch, a new expense system
  • Trusona opens new office in Tokyo, Japan.

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.

Trusona Raises $10 Million to Fuel #NoPasswords Revolution

Identity authentication company Trusona landed $10 million in funding this week. Microsoft’s venture capital arm led the round. Existing investor Kleiner Perkins Caufield & Byers also participated, bringing the Arizona-based company’s total funding to $18 million.

Founded in 2015, Trusona provides an insured cloud identity suite that offers everyday logins for SWIFT wires, DTC stock transfers, critical infrastructure logins, high net-worth individual accounts, and more. The company will use today’s funding to double its workforce and generate more demand for its identity application suite that comes in three different versions. The most basic of which, Essential, allows users to log into a website by scanning their fingerprint or entering a PIN on their mobile device. The Executive version is designed to replace OTP tokens, requiring 3-factors of authentication upon login. Businesses may also select the Elite level for identity verification to access sensitive assets or initiate high-dollar wire transfers. This version delivers four-factor authentication and includes insurance.

Trusona’s CEO and founder, Ori Eisen, demonstrated the company’s Cloud Identity Suite at FinovateFall 2016. The platform is so fast and frictionless that Eisen was able to show off the user experience seven times during the seven minute demo. To authenticate themselves, clients use the Trusona app on their smartphone to photograph a QR code on a website login page, then select accept on their mobile device.

The company also provides a free WordPress plugin and earlier this spring launched an offering for Salesforce users. In April, Trusona appointed Karen Dayan as Chief Marketing Officer and earlier this year won Info Security PG’s Global Excellence Award.