Finovate Alumni News


  • Ledger Partners with Intel to Boost Blockchain App Security.
  • BioCatch to Power Behavioral Biometrics for Samsung SDS America.
  • Clinc Teams with Enacomm to Bring AI Chatbots to Small Banks and Credit Unions.
  • Powers Facebook Messenger’s First, Fully-Featured, AI-Powered, Virtual Banking Assistant.

Around the web

  • PayPal launches PayPal for Marketplaces
  • Forbes: Banks Wanted To Sink Kantox— Now They’re Vying For Its Technology
  • Zumigo’s  Zumigo Assure now prevents payment fraud even when card numbers are compromised.
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Finicity launches online platform that allows lenders to order, manage and monitor digital verification reports.
  • DAVO’s Sales Tax App, now available in the Square App Marketplace.
  • D3 Banking partners with P2P payments network, Zelle.
  • Behavioral biometric technology from BioCatch to be integrated into Samsung’s Nexsign platform.
  • Top Image Systems introduces its eFLOW AP solution for SAP.
  • Zafin offers its miRevenue platform as a cloud-based SaaS solution.
  • Scalable Capital provides BlackRock employees with streamlined access to its investment management services.

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


  • “BlackRock Acquires Online Investment Adviser, FutureAdvisor.
  • “Finovate debuts: WealthForge is a Private Placement Compliance Engine Wrapped in Technology”
  • “Finovate debuts: INETCO Analytics Helps FIs Leverage Transaction Data to Boost Customer Engagement”

Around the web

  • HedgeCoVest adds two models to its platform.
  • Zumigo launches Assure Radius in India to protect consumers and merchants in the credit, debit and mobile payments market.
  • bobsguide ranks the $9-billion acquisition of SunGard by FIS as the #1 fintech M&A deal of 2015.
  • PayPal’s One Touch Instant Checkout platform now available in 13 new markets.

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.

OnFinance’s “50 Companies to Watch” Features Finovate, FinDEVr Alums


Alumni from both Finovate and FinDEVr are featured in AlwaysOn’s OnFinance “50 Companies to Watch” roster released this week.

AlwaysOn’s OnFinance “50 Companies to Watch” highlights “early to mid-stage startups focused on honing fintech innovation” that are effectively taking their technologies to market. This ability to “capitalize on enormous market opportunities” is what AlwaysOn uses to distinguish its “50 Companies to Watch” from its “Top 100” list published earlier this month.

“(The 50) are positioned at the inflection point of growth and are quickly emerging as contenders that are earning global recognition,” write the editors.

See for yourself. The full list is here. Below are the nine Finovate and FinDEVr alums that made the cut, along with a link to their most recent appearance on stage.

AlphaPoint_hires_logo_boxFinovateEurope 2015


Betterment_logo FinovateFall 2011


CardFlight_logo FinovateSpring 2014



See them at FinovateSpring 2015




jumio_logo_cmyk FinovateEurope 2015



Kensho_logo FinovateEurope 2014


Plaid_logo FinDEVR San Francisco 2014


Tradier_logo FinDEVR San Francisco 2014



Zumigo_logo FinovateSpring 2014


Finovate Alumni News


  • Lendio Raises $20 Million in New Funding to Help Finance Small Businesses
  • Motif Investing Partners with Pacific Life to Offer Cause-Based Investing.
  • Bank Innovation’s Coolest Brands of 2015 Features Finovate Alums.
  • Printer Giant Lexmark to Acquire Kofax for $1 Billion.

Around the Web:

  • ShopKeep POS acquires payment processing startup, Payment Revolution.
  • Financial Guard and FutureAdvisor are featured as alternatives in a Bloomberg column on “breaking up with your expensive adviser.”
  • Bank Innovation column on “InsuranceTech” and Fintech 1,000 lists Insuritas.
  • Opentabs integrates with PayPal to power its mobile app order-ahead services.
  • PYMNTS: Monitise takes itself off the market. CEO steps down.
  • Billhighway awarded Silver Stevie Award for Innovation in Customer Service in the Financial Services Industry category. It is the second win for Billhighway since 2013.
  • Dexterity Ventures (Place2Give) bolsters team with new CMO, Product Manager, Developer, and Office Assistant.
  • The FinTech Blog interviews Eli Broverman, Co-Founder and COO of Betterment.
  • Fiserv, TD Bank Group, Intuit, and PayPal rank among Forbes’ list of Americas’ Best employers.
  • SocietyOne appoints former Investec Group chief lending officer, Simon Schwarz, as new COO.
  • Ad Age highlights how BancVue seeks to level the playing field for community banks.
  • Rippleshot joined fellow winners of the Chicago Innovation Awards in ringing the closing bell at the Nasdaq on Monday.
  • BankNXT looks at the rise of marketplace lending platforms including Finovate alums Lending Club and OnDeck.

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.

In Partnership with Equifax, Zumigo Further Protects Merchants


Online merchants generally rely on a card’s CVV number to protect against fraud, but that 3-digit code is easy for a fraudster to obtain. Today, Zumigo is helping to change that by launching an enhancement to its payment validation service, Assure Payments.

In a partnership with Equifax, the San Jose-based company is making it more difficult for a fraudster to complete an online purchase using stolen card credentials. This ultimately protects merchants against chargebacks.

During the online checkout flow, Zumigo asks the customer to provide information such as name, address, and mobile number. It verifies the credentials by pairing the information against Equifax’s mobile billing records. As a secondary verification method, Zumigo compares the location of the customer’s mobile phone with their IP address and shipping address.

Here’s a sample risk analysis:


When some data points do not match up, as in the example above, the merchant identifies the transaction as high-risk, and is advised to take further measures to verify the purchaser’s identity.

At FinovateSpring 2014, Zumigo launched Assure, which automatically populates forms on behalf of consumers for easy checkout flow or account opening. Both solutions are available to merchants via an API integration into their mobile or web checkout flow.

Alumni News– January 26, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMIT Technology Review features Feedzai and Zumigo in a discussion on mobile authentication technologies.
  • Loan origination platform LoanLaunch (formerly Common Origination Platform) now available from Fiserv.
  • Experian partners with BillGuard to boost effectiveness of its anti-fraud solution, ProtectMyID.
  • Misys unveils FusionBanking Lending.
  • American Banker takes a look at the relationship between Google and Lending Club.
  • Kabbage named one of America’s top 100 Most Promising Companies 
  • Coinbase to open the first regulated Bitcoin exchange in the U.S. 
  • Actiance announces support for IBM Verse and IBM Connections Social Cloud.
  • Credit Sesame launches iOS app with Siri integration in its credit monitoring feature.
  • Google Wallet partners with WePay to put its Instant Buy API in 200,000 e-commerce shops.
  • TransferWise Raises $58 Million in Round Led by Andreessen Horowitz.
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.

Alumni News– November 12, 2014

  • Finovate-F-Logo.jpgGuardian Analytics introduces FraudMAP ACH-RDFI to identify suspicious transactions.
  • Zumigo named finalist in Mobile Excellence Awards for Best Mobile Retail/Commerce Solution.
  • Pando Daily: BillGuard was the first to notify many affected consumers of the USPS security breach.
  • Yodlee Interactive introduces selected companies to participate in its incubator program.
  • AsiaOne Business features PlayMoolah co-founder, Lee Min Xuan.
  • ReadyForZero launches ReadyForZero Insights, a new dashboard to help users understand their debt.
  • MetaIntelli and Arxan Technologies partner to provide developers a way to mitigate security and privacy risks in mobile apps.
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.

Zumigo Raises $6 Million in Investment Led by Intel Capital


Guess which fintech company’s just-completed, $6 million Series B round comes stamped “Intel Inside”?

On Friday, Zumigo announced an investment from Intel Capital, Intel’s global investment and M&A arm, along with participation from existing investors, including Aligned Partners. This Series B round brings Zumigo’s total funding to $7.7 million.
Zumigo’s CEO and Co-founder Chirag Bakshi says the new financing “validates our direction and success and will accelerate growth in our core business of providing mobile location and identity products to financial organizations and enterprises alike.”
In addition to growth in its core business, the company said in a statement that the funding also will help support investments in sales and marketing, as well as in new product development.
Yesterday we shared news that Zumigo will be one of three companies participating in the inaugural Wells Fargo Startup Accelerator. The Accelerator is geared toward startups that are capable of delivering solutions for FIs ranging from security and fraud to payments and operations. The six-month program includes an equity investment between $50,000 and $500,000.
Founded in 2008 and headquartered in San Jose, California, Zumigo demoed its technology at FinovateSpring 2014.

Alumni News, 22 August 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgEyeVerify raises $6 million in Series A round, joins Wells Fargo Startup Accelerator.
  • Continuity Control announces $10 million investment.
  • Zumigo earns a spot in, and an investment from, Wells Fargo Startup Accelerator.
  • BlueVine brings in $1.5 million in funding. Check out BlueVine’s live demo at FinovateFall.
  • Four notable website upgrades on
  • Houston Chronicle features Lending Club success story.
  • Check Point Software Technology positioned as a Leader in the 2014 Gartner Magic Quadrant for Unified Threat Management.
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.

EyeVerify Raises $6 Million in Series A Round, Joins Wells Fargo Startup Accelerator


With participation from Wells Fargo, Qihoo 360 and Sprint, as well as existing investors, EyeVerify just announced that it closed a $6 million Series A funding round. 

The investment takes EyeVerify’s total capital to more than $10 million.

In a statement, EyeVerify CEO Toby Rush pointed to the fact that the investors included “the largest security software firm in the world, the leading bank in the U.S., and a wireless network operator serving more than 50 million U.S. customers” to underscore what he called the strong “marketplace validation” of the investment.
And the good news comes in twos for EyeVerify, with the company announcing that it is part of the inaugural class of the Wells Fargo Startup Accelerator. EyeVerify will participate in the new, semiannual fintech bootcamp along with two other companies, including fellow Finovate alum, Zumigo. Participation in the program includes a “direct equity investment” ranging from $50,000 to as much as $500,000. The specific investment in EyeVerify was not immediately available.
EyeVerify’s innovation is the way it approaches eye-based, biometric authentication. The company’s technology uses the veins within the whites of the eyes to take an “eye print” that is as unique to the individual as a fingerprint. Eyeprints can be used in a range of authentication situations, from helping secure employee mobile devices to providing greater security for mobile banking customers. Kevin McGinnis, vice president of Sprint’s Pinsight Media+ division said, “With mobile security evolving beyond passwords, we are pleased to invest in EyeVerify and its easy-to-use, innovative biometric solution.”
Founded in 2012 and based in Kansas City, Kansas, EyeVerify last demoed its Eyeprint Validation technology at FinovateSpring 2014. See the company’s Best of Show winning demo here.

Zumigo Earns Spot in and Investment from Wells Fargo Startup Accelerator


Of the three companies participating in the inaugural Wells Fargo Startup Accelerator, two are Finovate alums. One is EyeVerify, which also reported a $6 million dollar investment on Wednesday. The other is Zumigo.

What was it about Zumigo in particular that caught Wells Fargo’s eye? According to Zumigo, the big bank is especially interested in the company’s mobile location intelligence technology, which provides authentication services for mobile transactions. Zumigo’s solution allows financial institutions to be more proactive than is “current industry practice,” according to Chirag Bakshi, founder and CEO of Zumigo.

“Zumigo’s innovative technology for financial services institutions such as Wells Fargo can detect fraudulent transactions before (they) impact their customers,” Chirag added.
In the words of Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo, the goal of the Accelerator is to increase the bank’s “visibility into technologies and ideas that will stoke innovation across the enterprise.” And considering that two out of the three companies participating are security/authentication-related, Wells Fargo may be telling us a lot more about the kind of innovation major banks are looking for than it may seem. The third company, Kasisto, is a New York startup that specializes in conversational artificial intelligence technology.
Participating in the Accelerator includes an equity investment of between $50,000 and $500,000. Zumigo did not immediately disclose the level of investment it received. The program lasts for six months, and will provide business planning expertise geared toward developing “innovative ideas and stoke innovation across the Wells Fargo enterprise.”
Zumigo was founded in 2009, and demoed its Assure solution at FinovateSpring 2014. The company is headquartered in San Jose, California.

Alumni News– August 21, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker takes a look at the new Wells Fargo Startup Accelerator, with alums EyeVerify and Zumigo in the inaugural class.
  • Check out our first FinDEVr Preview, featuring Yodlee Interactive. Join Yodlee at FinDEVr in San Francisco this fall.
  • The Paypers spotlights BioCatch and the company’s cognitive science-based biometric technology. See BioCatch at FinovateFall in New York next month.
  • MasterCard partnership with Zimbabwe’s EcoCash designed to boost mobile money services in Africa. MasterCard is a presenter and sponsor of FinDEVr, the first fintech event for developers.
  • Taulia sees more than 350% growth in second quarter of 2014.
  • features AnchorID in latest report. See AnchorID’s live demo at FinovateFall in NYC.
  • GECU providing members with online and mobile digital banking services from Digital Insight.
  • PayNearMe partners with Systems & Methods to offer a way to pay child support in cash. Check out PayNearMe at FinDEVr.
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.