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The #FintechRevolution Will Be API’d

The #FintechRevolution Will Be API’d
By David Penn Posted on
Categories: Advisor Software, planwise, PsychSignal, QuantConnect, Stocktwits, Streamdata.io, TipRanks, Tradier, Xignite, Yodlee

FintechRevolutionAPIEcosystem

An open Fintech ecosystem for developers could be imminent, at least if Xignite has anything to say about it.

Fresh off its FinovateFall 2015 appearance, the financial market-data provider to many of fintech’s most innovative companies is spearheading a new initiative, the #FintechRevolution API Ecosystem. The goal of #FintechRevolution—a partnership involving more than 20 other technology companies and accelerators—is to make it easier for developers to get their hands on the APIs and tools they need in order to bring their innovations to life.

Stephane Dubois, CEO and founder of Xignite, says the initiative “consolidates the best-of-the-best in the fintech API ecosystem. It will now be easier for firms, large and small, to start and grow financial services and fintech companies just by leveraging the APIs in the ecosystem.”

Xignite_9728

From left: Xignite CEO Stephane Dubois, founder, and Anand Vidwanathan, developer, demonstrated Xignite Cloudstreaming at FinovateFall 2015.

Xignite divided the API contributions from the founding members into workflow, analytics and data categories. And, as Finance Magnates reports, a special emphasis should be placed on what it calls “non-traditional” APIs, the ones embracing inclusion of social and sentiment data alongside more-familiar financial data. This social data includes everything from the portfolio-management APIs of Advisor Software to the trader-mood-data APIs of PsychSignal.

The APIs from all of the founding members of the API ecosystem are listed in an integrated, Xignite-powered API catalog for easy access. All APIs have been vetted, and sales-and-support teams from all Ecosystem members are knowledgeable and ready to field questions from developers.

See the full list of founding members of the #Fintech Revolution below. The names of those companies that are also Finovate and/or FinDEVr alums are in bold.

Other founding members include incubators, Draper University in Silicon Valley, Fintech Sandbox in Boston, Level39 in London, and ValueStream in New York City.

Speaking of the initiative and its importance to startups and enterprises alike, ValueStream founding partner Greg Neufeld says, “We wouldn’t be investing our time, relationships and capital if we didn’t believe that the transformative changes happening today are merely the tip of the iceberg.” Neufeld is calling for innovators in fintech to work together to “build a better and stronger moat for the future.”

Neufeld says the entire industry of financial services is being “reinvented from the ground up,” and added: “We’re excited to be a part of this movement.”

FinDEVr2015LogoV2DateIf you are a developer, software architect, engineer, or CTO looking to hear from and network with some of the biggest builders in financial technology, then join us 6/7 October for FinDEVr 2015 in San Francisco. Save your spot and we’ll see you in the city by the bay!

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: AnalytixInsight, Avalara, Clarify, Flint Mobile, FutureAdvisor, Klarna, Moven, Nous.net, ShopKeep POS, SnoopWall, Spreedly, StockViews, The Beast Apps, Trulioo, Urban FT, Wallaby Financial, Wipit, Xignite, Yodlee

On Finovate.com

  • “Banking Suite Provider Urban FT Acquires Wipit” Come see Urban FT at FinovateFall September 16 & 17.

Around the web

  • Niklas Adalberth steps down as Klarna’s deputy CEO.
  • ShopKeep to offer discounts to members of the MasterCard Easy Savings program.
  • Yodlee partners with Salesforce to offer advisers a comprehensive view of their clients’ financial accounts. Come see Yodlee’s presentation at FinDEVr, 6/7 October.
  • Monex to incorporate corporate-actions data from Markit. See Markit at FinDEVr 2015 in San Francisco.
  • Bank Innovation takes note of the Moven approach to displaying transaction histories.
  • Tech Vibes features Trulioo in a look at Vancouver, British Columbia, as a home for fintech innovation. See Trulioo at FinovateFall 2015 in New York.
  • Investment News looks for the next robo-adviser acquisition in the wake of BlackRock’s deal with FutureAdvisor.
  • Waters Technology highlights Nous, StockViews, AnalytixInsight, and Xignite in a review of how innovators are using market data. See Xignite at FinDEVr 2015 in San Francisco.
  • Flint enhances Android app to include immediate electronic receipts via SMS.

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.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: AcceptEmail, Akamai, Alfa-Bank, Bleu, D3 Banking, Dwolla, IDmission, Ldger, Lending Club, Market Prophit, PsychSignal, Revolut, Sedicii, Segmint, SizeUp, Token, Top Image Systems, Tradeshift, Tranwall, Trustly, Urban FT, Yodlee

On Finovate.com

Around the web

  • Yodlee’s startup incubator contributes to “Startup Fever.”
  • Revolut, Sedicii, SizeUp, & Token named Innotribe Startup finalists.
  • TIS signs deal to process school exams in Chile.
  • Trustly appoints Jonas Palmquist as chief financial officer.
  • FT.com features PsychSignal and Market Prophit in a discussion on market signals and social media.
  • Dwolla launches its white-label service to make it easier for FIs to use its FiSync transfer platform.
  • Segmint launches new marketing solution, Segmint Reach.
  • RetailWeek features TradeShift as startup of the week.
  • Lending Club celebrates surpassing $11 billion in loans.

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.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Adobe, Avoka, Betterment, CellTrust, DoubleNet Pay, Emailage, Flybits, FutureAdvisor, Markit, MaxMyInterest, Mint, Moven, PocketSmith, Socure, SumUp, Venmo, Wealthfront, Xignite, Yodlee

On Finovate.com

  • “SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express”

Around the web

  • In its fiscal year 2015, Avoka signs record number of clients and experiences 70% year-on-year bookings growth.
  • Yodlee is accepting applicants for its upcoming Ynext Incubator class.
  • Markit acquires FX trade-processing specialist DealHug. See Markit at FinDEVr 2015 in San Francisco in October.
  • Emailage opens European data center.
  • After BlackRock’s acquisition of FutureAdvisor, ThinkAdvisor considers the fate of Wealthfront and Betterment.
  • Forbes looks at Mint, MaxMyInterest, Moven, and Venom in a discussion on the connection between mobile, messaging, and financial services.
  • Mainstream features a quote from founder of DoubleNet Pay, CEO Brian Cosgray, on the impact of debt on new retirees.

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.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Avoka, Credit Karma, FinDEVr APIntelligence, Intuit, Nymi, PayPal, Personal Capital, ReadyForZero, Venmo, Xero, Yodlee

FinDEVr2015LogoV2DateAre you building new financial technology? Be sure to register soon for the only event exclusive for fintech developers, FinDEVr 2015, Oct 6-7 (fewer than 6 weeks away!) in San Francisco.

Developer news

  • Royal Bank of Scotland to host hackathon in partnership with Open Bank Project.

The latest from upcoming FinDEVr 2015 presenters

  • PayPal’s One Touch Instant Checkout platform is now available in 13 new markets.
  • Let’s Talk Payments looks at Venmo and its new group-payments feature.
  • Intuit to sell off Quicken with no plans to divest Mint or Mint Bills.
  • Yodlee cites innovations from PayPal, Credit Karma, Personal Capital, and ReadyForZero in its 7 Habits of Highly Successful Fintech Startups.

Alumni updates

  • Global News interviews Karl Martin, Nymi CEO and founder.
  • The Denver Post profiles Broomfield-based Avoka Technologies. See Avoka at FinovateFall 2015 in New York City in September.
  • CIO cites Avoka’s win of most innovative customer solution in Citi’s demo day in London.

Stay up to date on daily developments by following FinDEVr on Twitter.

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Tuesday Tactics: Creating an Interconnected Family Bank Account

Tuesday Tactics: Creating an Interconnected Family Bank Account
By Jim Bruene Posted on
Categories: Deposits, Checking, Savings, CDs, FamZoo, Yodlee, Youth market

Yodlee_tandem_positioningA major consequence of ubiquitous digital banking will be a long-term improvement in customer retention, at least for the “primary” bank/checking account. Digital natives will perceive little need to change banks as they move from home to college and then to multiple jobs. Assuming you keep them satisfied and connected to family members, today’s 15-year old might stick with their primary bank or credit union for seven or more decades.

But you can’t retain a customer who never opens an account.

That’s why I believe FIs should do their best to get an account started for every child in every customer household, probably bundling them into a “family wrap account” which could carry a premium fee (though the individual kids’ accounts should probably come at no additional fee).

And the family account needs to be fully connected and in sync with the parents, guardians, and other current and potential family members. That enables real-time money movement along with expense tracking. And yodlee_tandem_streamas children grow into adulthood, the accounts should be able to be easily be converted into their own family account, and the cycle can be repeated with their kids.

Building it

We’ve seen a number of youth-oriented platforms at Finovate, but they have rarely focused on inter-connectivity and communications. Two exceptions are Yodlee’s Tandem app (inset) which debuted at FinovateSpring 2013 and FamZoo, which demoed its new platform the same year. Watch their demos and be inspired (Yodlee, FamZoo).

For more info on the mobile side, see yesterday’s post.

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More Than 30 Alums Make Hot Topics 100 Most Influential People in Fintech

More Than 30 Alums Make Hot Topics 100 Most Influential People in Fintech
By David Penn Posted on
Categories: Algomi, Betterment, Bill.com, BillGuard, BizEquity, Coinbase, CurrencyTransfer, Dwolla, Ethoca, eToro, Fastacash, Feedzai, Fenergo, Kabbage, Kantox, Klarna, Kreditech, LearnVest, Lending Club, Moven, Nutmeg, PayNearMe, PayPal, Prosper, Realty Mogul, TransferWise, Wealthfront, Xero, Yodlee, Zopa

HotTopics_Fintech100_2015

If you drew up a list of the 100 most influential men and women in fintech, how many of them would be alumni of our Finovate/FinDEVr conferences?

The answer is about a third, according to Hot Topics, which released its list of the top 100 fintech influencers this week.

“More transactions taking place online mean more opportunities to help consumers manage their money in digital form: enter the fintech platforms,” wrote Joel Watson for Hot Topics. “Whether it be securing mortgagees, getting a loan, transferring money abroad, spending money in an ecommerce store, or one of a thousand other applications, the marketplace is fiercely competitive and growing all the time.”

See if you agree with who made the cut, who was overlooked, and who deserves at least an honorable mention.

Hot Topics is an online community of more than 300 entrepreneurs, corporate executives, venture capitalists, journalists, bloggers and other professionals interested and involved with technology.

 

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Finovate Alumni News

By David Penn Posted on
Categories: Cachet Financial Solutions, Credit Karma, Dwolla, Holvi, Kony Solutions, Lending Club, LendingRobot, Loop, Motif Investing, PayPal, Personal Capital, ReadyForZero, Rippleshot, TSYS, Yodlee, Zopa

Around the web

  • TSYS launches new data analytics platform, Analytics Intellisuite.
  • Let’s Talk Payments interviews Rippleshot CEO Canh Tran, co-founder.
  • International Business Times previews the arrival of LoopPay-powered Samsung Pay in the U.K.
  • Business Insider looks at the growth prospects for Zopa, P2P lender.
  • New investors can now open Lending Club accounts on LendingRobot.
  • CU Mobile Apps (CUMA) chooses Cachet Financial Solutions as its preferred mobile deposit provider.
  • Holvi launches iframe to enable users to embed Holvi online store products into external websites.
  • Yodlee cites innovations from PayPal, Credit Karma, Personal Capital, and ReadyForZero in its piece 7 Habits of Highly Successful Fintech Startups. Check out Yodlee, PayPal, and Personal Capital at FinDEVr San Francisco 2015.
  • Dwolla gives account holders option to enable two-factor authentication.
  • Lend Academy: Lending Club announces open integration, third parties jump on board.
  • Kony achieves mobile competency status awarded by Amazon Partner Network.
  • Motif Investing celebrates the launch of dollar-based trading with Free Trading Day on Friday

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.

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Holy Yodlee! Envestnet To Buy Yodlee for $660 Million

Holy Yodlee! Envestnet To Buy Yodlee for $660 Million
By David Penn Posted on
Categories: Yodlee

Yodlee_homepage_Aug2015

Yodlee—a Finovate alum and FinDEVr 2015 sponsor—has agreed to be acquired by Envestnet. Envestnet will pay $660 million in cash and stock, valuing the company’s shares at $18.88.

The acquisition comes less than a year after the company went public, trading under the ticker YDLE on the Nasdaq exchange. The acquisition price of $18.88 is a premium of nearly 50% over both the stock’s closing price on Monday, as well as its closing price on the day of its IPO—$12.60 and $13.44, respectively. According to American Banker, Envestnet secured $200 million in debt financing commitments to fund the deal, as well as using cash from its own balance sheet.

Yodlee CEO Anil Arora will continue to run Yodlee, and has been named vice chairman of the combined entity. In a statement, Arora praised the acquisition, saying it would “create a company unmatched in its ability to improve and simplify people financial lives around the world.”

Yodlee_stage_FS2015

From left: CMO David Lee; John Bird, VP of product marketing; Katy Gibson, VP of product applications, demonstrated Sense, Yodlee’s PFM app, at FinovateSpring 2015 in San Jose.

Bill Crager, Envestnet president, says Yodlee would bring a “more interactive and informative digital advice experience” for Envestnet clients, especially in the areas of data mining and predictive analytics. The goal is to give Envestnet more firepower as it tries to win over financial advisers who are not affiliated with larger firms, such as Merrill Lynch or Morgan Stanley. Envestnet was founded in 1999, and is based in Chicago Heights, Illinois.

Yodlee has distinguished itself both as an innovative aggregator of data for technology companies working in the financial services space, as well as a compelling solution-builder in its own right. The company powers financial solutions for more than 20 million users and more than 850 FIs, and produced revenues greater than $98 million for the 12-months ending 30 June 2015.

Founded in 1999 and headquartered in Redwood City, Yodlee is a veteran of both Finovate and FinDEVr conferences. The multiple Best of Show winner’s last Finovate appearance was at FinovateSpring 2015 in San Jose. Yodlee was a presenter at the inaugural FinDEVr 2014 conference in San Francisco last fall.

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Finovate Alumni News

By David Penn Posted on
Categories: CashStar, Digital Retail Apps, EyeVerify, Fenergo, Kensho, Misys, NICE Systems, Personal Capital, Yodlee

On Finovate.com

  • “Holy Yodlee! Envestnet to Buy Yodlee for $660 Million”
  • “Artificial Intelligence Innovator Kensho Locks in $48 million Series B Round”
  • “Digital Retail Apps Raises C$1 Milllion in Round Led by Texas Ventures”

Around the web

  • Misys shortlisted in three different categories in the CIR 2015 Risk Management Awards.
  • Bloomberg TV looks at Fenergo in a discussion on investment in startups.
  • NICE Systems wins “8-figure contract” to bring call recording and incident-management technology to NYC’s Department of Information Technology and Telecommunications (DoITT).
  • Personal Capital CEO Bill Harris writes about the rise of robo-advisors in a column for Investment News.
  • CashStar to power digital gift card offerings from Maritz Motivation Solutions.
  • KCUR 89.3 FM interviews EyeVerify CEO Toby Rush.

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.

 

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Finovate Alumni News

By David Penn Posted on
Categories: ACI Worldwide, Azimo, blooom, CashStar, Currency Cloud, CurrencyFair, Dragon Wealth, FinanceIt, Lending Club, LendUp, peerTransfer, Ripple, TransferWise, Twilio, Xero, Yodlee

On Finovate.com

  • “Xero Launches its New Android Touch App”
  • “Lending Club Reports Growth in Revenues, Originations for Q2 2015″
  • “CashStar Raises Captal: New Investment Boosts Total to $50 Million”

Around the web

  • Star Tribune column on robo-advisors features blooom.
  • ACI Worldwide and Computop partner to provide payments and anti-fraud solution.
  • Yodlee adds four companies to its International Acceleration Program. Join Yodlee at FinDEVr 2015 in San Francisco in October.
  • BankNXT’s look at fintech in Singapore features Dragon Wealth.
  • Let’s Talk Payments highlights Azimo, Currency Cloud, peerTransfer, TransferWise, and Ripple in its list of “remittance startups to watch for.”
  • CurrencyFair signs on with global payment network, Earthport.
  • LendUp deploys TaskRouter from Twilio to improve its call-center customer service. See Twilio at FinDEVr 2015 in San Francisco.
  • The Globe and Mail highlights Financeit in a look at financing options for small businesses.

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.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, BehavioSec, Evo Snap*, FinDEVr APIntelligence, InComm, On Deck Capital, PayNearMe, PayPal, PayStand, Personal Capital, SimplyTapp, Tradier, Wallaby Financial, Yodlee

FinDEVr2015LogoV2DateAre you building new financial technology? Be sure to register soon for the only event exclusively for fintech developers, FinDEVr 2015, 6/7 Oct, in San Francisco.

Industry news

  • Expensify launches new fintech investment fund.
  • Yodlee hosts webinar on how to build financial apps to meet evolving customer expectations.
  • The Full FinDEVr: “A Look at the Final Line-up for FinDEVr 2015 San Francisco”

The latest from upcoming FinDEVr 2015 presenters

  • Wallaby Upgrades Credit Card Optimization Solution with Spend Monitor.
  • Backbase-powered Touch Bank goes live in Russia.
  • PayPal hires new CFO John Rainey, a former United Airlines executive.
  • EVO Snap* to fast track EMV migration for software vendors and retailers; partners with Handpoint.
  • NerdWallet looks at Personal Capital in feature on how automation is disrupting investing.
  • BehavioSec mentioned as one “wild invention of the future” that the Pentagon is behind.
  • OnDeck rolls out mobile app for account management on-the-go.
  • PYMNTS looks at how PayPal’s Paydiant is powering Subway’s mobile payments app.

Alumni updates

  • Market Visual integrates with Tradier’s API to enable investors to manage stock portfolios and trade on a single platform.
  • Tradier announces 75+ investor platforms and advisers now integrate with its API.
  • Let’s Talk Payments interviews CEO Jeremy Almond of PayStand.
  • In its latest podcast, Payments Views talks with Doug Yeager, HCE inventor and CEO of SimplyTapp.
  • Mobile Payments Today looks at InComm’s drive to bring open-loop prepaid to mobile wallets.
  • PayNearMe partners with The California Department of Child Support Services to offer a new payment option for cash-paying customers.

Stay current on daily developments by following FinDEVr on Twitter.

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