Finovate Alumni News

On Finovate.com

  • Onfido Unveils International Partner Program.
  • Pepper Power: HSBC Brings Robot Retail Banking to FinovateFall.

Around the web

  • Blockchain launches The PIT, an institutional-grade crypto trading platform.
  • IDology appoints Christina Luttrell as COO.
  • Featurespace delivers ARIC Fraud Hub with banking, payments, and processing solution provider Contis.
  • FIS closes acquisition of Worldpay.
  • TurkishBank teams up with Token to ensure PSD2 compliance.
  • Revolut hires former Metro Bank finance director David Maclean as its new Chief Financial 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

Around the web

  • Entrepreneur.com features Xero in its round up of solutions to help companies better control their business expenses.
  • SaaS banking engine Mambu inks deal with its first Brazilian client, Acesso.
  • Worldpay to deploy UP eCommerce Payments solution from ACI Worldwide as part of new international partnership.
  • Czech Republic’s Twisto announces plans to expand to Poland this fall, with expansion to Romania to follow.

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

  • HSBC Creates Private Banking Portal with Finantix
  • Trulioo Can Now Verify Customers in 4 New Countries
  • AI Foundry Adds Mortgage Document Modeling to its Automation Platform
  • HiddenLevers and First Rate to Improve Risk Analytics for Wealth Managers
  • DemystData Signs Two Year Agreement with Kyckr
  • YSEOP Garners $9.3 Million in New Funding Round

Around the web

  • Xceptor appoints former GBST exec as new COO.
  • eToro has launched a portfolio of firms involved in Facebook’s new digital currency Libra.
  • Jumio to power digital identity for Brazil-based BTG Pactual.
  • Settle launches its mobile payments app in Croatia.
  • Worldpay and the University of Cincinnati partner to fill business talent shortfall.
  • Coast Capital Savings teams with OnDeck to offer small business members financing options.
  • Scooter fleet company Spin joins Passport’s micro-mobility pilot program.
  • First Rate and HiddenLevers partner to provide risk analytics and business intelligence to the wealth management industry.
  • BeSmartee announces direct integration with private mortgage insurance provider Arch MI.

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

  • Feedzai and North American Bancard Partner to Fight Fraud.
  • FinovateSpring’s Friday Finale Tackles Fintech’s Toughest Topics.

Around the web

  • Aite Group’s 2019 report on fraud and AML machine learning platform vendors recognizes Featurespace as Best-in-Class.
  • Salt Edge releases 60+ PSD2 API sandboxes.
  • ACI Worldwide to help Indonesia interbank network ALTO to expand its payment capabilities.
  • Jack Henry & Associates unveils its digital account opening solution, JHA OpenAnywhere.
  • Worldpay to release FraudSight machine learning-powered fraud solution.
  • PAUL UK selects Yoyo to introduce a combined mobile payments and personalized loyalty app to its customers.
  • Mint rolls out a new app experience for Android users

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

  • Worldpay Goes Australasia.
  • Capsilon Beta Launches Digital Underwriter.

Around the web

  • Temenos partners with Canada Life to support UK life and pension funds accounting.
  • Enova Decisions Announces Joint Venture with China Financial.
  • AlphaPoint enhances technology stack to service security token issuance and exchange customers.
  • Gusto names Kenny Wyatt as Chief Sales 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.

Worldpay Goes Australasia

The news that payment processing giant Worldpay is expanding to Australasia comes just days after the U.K.-based company announced its pending sale to FIS.

Worldpay is making two major moves in the Australasia region. First, it opened two sales offices in Australia, enhancing the company’s market presence. Second, Worldpay launched into the New Zealand market, after having received its local license, enabling in-country payment processing.

With the new Australia locations, Melbourne and Sydney, Worldpay is ultimately aiming to gain more clients. The company already boasts clients such as VGW, Skiddoo, Lonely Planet, and Webjet. And there’s plenty of room for growth in the region– Australia’s eCommerce sector is expected to grow almost 37% in the next three years.

Having a card processing license in New Zealand will allow Worldpay to process New Zealand-based merchants’ payments domestically. Worldpay’s Global reach will create a more seamless way for those New Zealand-based companies to trade with the rest of the world economy.

“By building a team of payments experts located in Australia, alongside the addition of a domestic card payment acquiring capability in New Zealand, Worldpay can offer a service that goes beyond the transactional. Our investment and addition of this new license will enable us to further provide unparalleled access to global markets to help eCommerce businesses deliver on their international growth ambitions,” said Worldpay’s Phil Pomford, General Manager of Global Enterprise eCommerce in APAC.

Founded in 1971, Worldpay most recently participated in FinDEVr Silicon Valley 2016, where the company discussed what customers are looking for in the payment journey. Earlier this month, the company agreed to be acquired by FIS for $34 billion. The deal is expected to close at the end of this year.

Finovate Alumni News

On Finovate.com

  • ACI Worldwide Partners with Solutions by Text.
  • Envestnet to Acquire PIEtech for $500 Million.

Around the web

  • Prepaid Technologies Acquires Dash from Karmic Labs.
  • Switch launches its issuer-branded CardUpdatr app.
  • Kinetica unveils its active analytics platform that makes it easier to deliver smart analytics applications at scale.
  • Forbes interviews co-founder and CEO of Onfido, Husayn Kassai.
  • Tinkoff Mobile, a subsidiary of Tinkoff Bank, announces service in six new regions.
  • DocuSign launches its DocuSign Agreement Cloud to help companies better manage business agreements digitally.
  • Capsilon announces the beta launch of its digital underwriter solution.
  • AlphaPoint adds DiamondBack stablecoin to its crypto exchange.
  • Sri Lanka’s Bank of Ceylon goes live with Clari5 Anti-Money Laundering (AML) Solution to address money laundering threats.
  • PYMNTS: Amazon and Worldpay team up on one-click commerce.
  • NetGuardians‘ AI fraud-prevention software available on Microsoft Azure.
  • TurnKey Lender signs partnership agreement with Refinitiv.
  • MX and Personetics partner to bring AI-driven insights to financial institution customers.
  • ICBA and Jack Henry’s ProfitStars expand preferred service provider program with remote deposit capture solutions.
  • Insuritas and Oregon Mutual announce partnership to offer auto and home insurance solutions through meta-agency 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.

FIS Acquires Worldpay

Banking technology giant FIS is acquiring payments firm Worldpay via a cash and stock combination – bringing Worldpay’s enterprise value to approximately $43 billion (including the assumption of Worldpay debt, which FIS expects to refinance), reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

According to Bloomberg, FIS is spending $34 billion on this purchase.

“Scale matters in our rapidly changing industry,” said Gary Norcross, chairman, president and CEO, FIS. “Upon closing later this year, our two powerhouse organisations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.”

“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives,” said Charles Drucker, executive chairman and chief executive officer, Worldpay.

Organic revenue growth outlook has grown from 6% to 9% through 2021 for FIS, in conjunction with $700 million of total EBITDA synergies from the combination of revenue and expense opportunities over the next three years.

This acquisition comes hot on the heels of another massive deal in the payments space: Fiserv, another US heavyweight and direct rival of FIS, buying First Data.

Worldpay, as it is today, is also the result of a big merger with Vantiv announced back in 2017.

The combined company of Worldpay and FIS will have pro forma 2018 annual revenue and adjusted EBITDA of approximately $12.3 billion and $4.9 billion, respectively.

Upon closing, the combined company’s Board of Directors will consist of 12 members, seven of which will come from FIS’ board of directors and five of which will come from Worldpay’s.

Gary Norcross will remain as FIS chairman of the board, president and chief executive officer. Charles Drucker, Worldpay’s current executive chairman and CEO, will serve as the executive vice-chairman of the board.

The transaction is subject to receipt of required regulatory and shareholder approvals and other customary closing conditions and is expected to close in the second half of 2019.

FIS demonstrated its Cardless Cash solution at FinovateFall 2016. Cardless Cash provides consumers with faster, more secure options when it comes to sending and accessing cash via ATMs, including the ability to pre-order funds from their mobile banking app.

Founded in 1958 and headquartered in Jacksonville, Florida, FIS trades on the New York Stock Exchange under the ticker “FIS.” The company has a market capitalization of $35 billion.

Worldpay participated in our developers conference, FinDEVrSiliconValley 2015. The company’s Head of Strategic Partnerships discussed how businesses can add secure payments to any website, app, or mobile device via the Worldpay Securenet API.

Worldpay was founded in 1971 (as Midwest Payment Systems) and is headquartered in Cincinnati, Ohio. With a market capitalization of $33 billion, Worldpay trades on the NYSE under the ticker “WP.”

Finovate Alumni News

On Finovate.com

  • IBM Debuts Blockchain Network for Cross-Border Payments.
  • Finovate Global: PayPal in Argentina; Temenos Backs African Challenger Bank.

Around the web

  • Envestnet to acquire PIEtech, maker of MoneyGuide, in $500 million deal.
  • HooYu partners with online lottery betting operator, Lottomart, to help the Gibraltar-based firm meet AML requirements.
  • Wipro launches its AI and machine learning-powered accounts payable, KYC, and other solutions on Amazon Web Services.
  • Polish neo bank Nest Bank unveils new lifestyle services module, Finanteq’s SuperWallet, to its mobile banking app.
  • FindBiometrics interviews Biometric Signature ID CEO, President, and founder, Jeff Maynard.

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

  • Glacier Bancorp Deploys Roostify Powered Digital Mortgage Solution.

Around the web

  • Fiserv Announces Plans to Acquire First Data in $22 Billion Deal.
  • Forrester names CREALOGIX as a leader in the Now Tech: Digital Banking Engagement platforms, Q4 2018.
  • Worldpay and Revel Systems announce enhanced partnership to provide consolidated POS and payments solution.
  • International bookmaker and gaming operator SKS365 picks ARIC Fraud Hub from Featurespace for real-time fraud protection.
  • PayPal appoints marketing executive Allison Johnson to EVP and Chief Marketing Officer.
  • Forbes features iProov in article discussing identity and blockchain technology.
  • FICO teams up with electronics payments specialist Conductor to support payment card fraud protection in Brazil.

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.