Banking Technology Innovator NYMBUS Raises $70 Million in Series D Funding

Banking Technology Innovator NYMBUS Raises $70 Million in Series D Funding
  • Banking technology company Nymbus raised $70 million in Series D funding.
  • The round was led by Insight Partners. ConnectOne Bank and PeoplesBank also participated.
  • Nymbus introduced itself to Finovate audiences at FinDEVrNewYork in 2016. The company most recently demoed its technology at FinovateFall 2019.

Banking technology company NYMBUS has secured $70 million in new funding. The Series D round was led by Insight Partners, and featured participation from ConnectOne Bank and PeoplesBank. The Banc Fund Company and Mendon Venture Partners also participated.

The investment takes the company’s total capital raised to more than $199 million. Valuation information was not immediately available. Nymbus will use the additional capital to support expansion and further development of its core system and product portfolio.

“This latest round of financing positions the company to double down on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market,” Nymbus CEO and Chairman Jeffrey Kendall said. “These strategic investments are a testament to the confidence in Nymbus’ ability to transform the financial services industry by modernizing outdated legacy systems with proven technology and business models that result in growth for our current and future clients.”

Nymbus helps financial institutions successfully undergo digital transformation and offer new digital experiences to their customers. Solutions like Nymbus’ SmartLaunch enable financial institutions to launch a fully-operational digital bank in as few as 90 days. FIs can take advantage of these deployments without having to undergo a major transformation or calling in additional human resources. The company’s SmartCore, SmartDigital, and SmartPayments solutions provide financial institutions with modern core, payments, and digital banking solutions, respectively.

Among these institutions taking advantage of Nymbus’ technology is Arizona-based Vantage West Credit Union. The $2.6 billion financial institution partnered with Nymbus to launch a new niche financial brand in April. The previous month, Michigan State University Federal Credit Union worked with Nymbus to launch a pair of standalone digital brandsAlumniFi and Collegiate. AlumniFi provides financial wellness, debt management, and charitable donation tools to MSU alums. Collegiate brings digital banking services to MSU students, faculty, and staff.

“Nymbus is empowering credit unions to deliver growth models with the people, process, and technology needed to deliver digital financial services that complement their core business,” Nymbus CUSO President John Janclaes said.


Photo by Susn Dybvik

Digital ID Verification Firm OCR Labs Embraces Diversity, Innovation in IDVerse Rebrand

Digital ID Verification Firm OCR Labs Embraces Diversity, Innovation in IDVerse Rebrand

Digital ID verification (IDV) innovator OCR Labs Global will begin the second half of 2023 with a new identity of its own. The company, which introduced itself to Finovate audiences at our developer’s conference, FinDEVrSiliconValley 2016, announced its rebrand as IDVerse this week.

In a statement, the firm noted that the new name and brand combine a set of key concepts – identity, universality, versatility, and diversity – that underscore the company’s priorities when it comes to developing digital ID verification technology. The rebrand also reflects the company’s growth, technological innovations in the field of identity verification, the evolving regulatory landscape, and mandates for greater financial inclusion.

“With OCR Labs we set out to develop an identity verification solution, from scratch,” company CEO Myers said, “The birth of IDVerse means we’re now ready to go to the next level to make user verification effortless with Zero Bias AI.”

IDVerse’s Zero Bias AI leverages generative AI to train deep neural network systems to guard against bias based on gender, age, and ethnicity. At the beginning of the year, the company announced that its technology had achieved non-bias certification from independent biometric testing laboratory BixieLab. The evaluation included male, female, and transgender subjects, aged 18 to 70 years old, from eight different ethnic categories. The test results revealed no demographic bias and a zero percent error rate for the company’s facial liveness detection solution. “The time has come to refocus efforts on achieving inclusivity to prepare for the future when more people than ever will use identity solutions for everything,” company General Manager International Russ Cohn said, “even ‘unlocking our car with our face’.”

Two months later, the company received certification from the U.K.’s Digital Identity & Attributes Trust Framework (DIATF). This gives the firm the right to serve employers, landlords, HR vetting firms, and other organizations as a compliant Identity Service Provider (IDSP). “Our Zero Bias AI technology eliminates barriers that lead to exclusion,” company Head of Legal, Risk, & Compliance Terry Brenner explained, “so that everyone has access to digital ID systems in society, such as recruitment and right to work, right to rent.”

In addition to the drive for financial inclusion and regulatory mandates, technological innovation is also playing a major role in the company’s transition to IDVerse. Founded as a research entity in 2014, the firm pioneered the deployment of optical character recognition and facial recognition to provide identity proofing and fraud detection on mobile and web platforms. The rise of technologies like synthetic media and generative AI have produced new challenges for fighting fraud. This has encouraged firms like IDVerse to embrace strategies such as identity orchestration that provide a coordinated fraud defense across the entire customer lifecycle.

Today, IDVerse verifies more than 16,000 identity documents in 220+ countries and territories. By matching people with their government-issued IDs, the company helps fight fraud and enables organizations to meet AML and KYC identity verification requirements.

Headquartered in London, Silicon Valley, and Sydney, IDVerse has raised $45 million in funding, according to Crunchbase. The firm’s investors include Equable Capital and OYAK.


Photo by Andrea Piacquadio

FinovateSpring 2023 Best of Show Winners Announced!

FinovateSpring 2023 Best of Show Winners Announced!

There’s still one more day to enjoy FinovateSpring. But as far as the live demo portion of our program is concerned, the Best of Show celebrations have begun. With that in mind, please join us in congratulating the winners of Best of Show at FinovateSpring 2023.


1Kosmos for its technology that automates user onboarding for workers and customers, protecting against stolen and synthetic identities while eliminating ATO and fraud. Video.

9Spokes for its technology that unlocks the potential of open data, giving financial institutions a powerful set of tools to engage business customers. Video.

Flybits for its personalization platform that enables financial institutions to deliver best-in-class personalized digital banking experiences. Video.

QuickFi for its 100% digital, self-service equipment financing platform that enables business equipment financing in minutes. Video.

SAVVI AI for its technology that helps any FinCo team build and deploy AI apps in minutes. No data scientists, pre-existing data, or custom infrastructure required. Video.

Wink for its biometric payments and identity platform that enables users to say goodbye to passwords and fraud – and say hello to secure and simple authentication. Video.

On behalf of the entire Finovate team, we want to thank all of our demoing companies, our partners, and our sponsors. We also want to express our gratitude toward our attendees in the fintech and financial services industry who bring so much positive energy to our events. We look forward to seeing you again next year right here in San Francisco for FinovateSpring 2024!


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 six 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 six 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 2023 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 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019
FinovateMiddleEast 2019
FinovateEurope 2020
FinovateFall 2020
FinovateWest 2020
FinovateEurope 2021
FinovateSpring 2021
FinovateFall 2021
FinovateEurope 2022
FinovateSpring 2022
FinovateFall 2022
FinovateEurope 2023

Why Your KYB is Only as Good as Your KYC

Why Your KYB is Only as Good as Your KYC

In 2022, global fines for failing to prevent money laundering (AML) and other financial crime surged more than 50 percent, totaling more than $2 billion in the banking sector alone. With the ever-increasing complexity of AML regulations and the global nature of financial services, financial institutions are investing more resources into compliance and due diligence to protect their businesses. 

Join us for an engaging conversation about the complexity of Know Your Business (KYB) and Know Your Customer (KYC) regulations and discover how a single, integrated identity platform can help streamline the process of truly knowing the entity and the people you are doing business with.

In this webinar, you will learn: 

  • The latest trends in KYB and KYC and how to protect your business
  • How artificial intelligence can help streamline tedious, manual verification processes
  • New strategies for verifying people and businesses with an integrated identity platform

In collaboration with


Sam Everington, CEO of Engine by Starling Bank on Meeting the Needs of Customers

Sam Everington, CEO of Engine by Starling Bank on Meeting the Needs of Customers

If you missed the keynote address from Sam Everington, CEO of Engine by Starling Bank at FinovateEurope earlier this year, here are some highlights that will make you feel as if you were in the room.

During his address titled, “From payments to core platforms: How can banks leverage data and technology to meet changing customer,” Everington relayed his experience at Starling Bank, detailing how the newcomer has remained competitive by using customer data in context to not only create a better user experience, but also cut costs.

Everington discussed the shifting expectations of consumers, who now anticipate a digital-first experience similar to those offered by big tech companies. Additionally, because customers seek fair, reasonably priced, and affordable services, in today’s current cost of living crisis, it is key that banks keep their costs low in order to retain consumers’ appetites.

Cost, in fact, was a big part of Everington’s keynote. He emphasized the potential cost savings for banks by increasing the use of technology and enhancing user experiences. He acknowledged that in the banking sector, technology is often viewed as a cost center and technology investments are primarily driven by cost reduction.

“In banks especially, technology and technology investment decisions are all about the business case,” Everington said. “Technology is a cost center to be controlled, and technology investment is by and large a cost reduction exercise.”

In his keynote, Everington identified real-time and flexible systems as essential elements needed to meet customers’ ever-changing financial situations, which can fluctuate multiple times a day. Banks need to proactively understand their customers, be aware of the products and services they hold, and respond promptly to any changes.

To address these needs, Starling Bank developed Engine, a technology platform that supports their operations. Engine offers flexibility, comprehensiveness, scalability, and reliability. These features not only enhance the customer experience but also ensure compliance with U.K. regulations.

Ultimately, Everington emphasized the importance of banks having an innovative platform that allows them to adapt and meet the evolving needs of their customers.


Photo by Yan Krukau

Finovate Global: Showcasing International Alums at FinovateSpring

Finovate Global: Showcasing International Alums at FinovateSpring

With FinovateSpring only days away (May 23 through May 25), this week’s edition of Finovate Global will showcase those innovators demoing at the event that are headquartered outside the United States.

There’s still time to register and join us in San Francisco, California for our annual Spring fintech conference. Visit our FinovateSpring 2023 hub today and get your ticket today!


9Spokes

Founded in 2012 and headquartered in New Zealand, 9Spokes unlocks open banking and data, giving financial institutions a powerful set of tools to engage SMB customers. LinkedIn.


FinTech Insights by Scientia

Founded in 2016 and headquartered in London, U.K., FinTech Insights by Scientia offers a competitive analysis tool for banks and fintechs to help them create compelling digital banking experiences. LinkedIn.


FINTEQ

Founded in 2017 and headquartered in Poland, FINTEQ removes credit risk from the supply chain, giving suppliers a healthy and sustainable trade finance alternative. LinkedIn.


Flybits

Founded in 2013 and headquartered in Toronto, Canada, Flybits offers a personalization platform that enables financial institutions to deliver best-in-class personalized digital banking experiences. LinkedIn.


Fundica

Founded in 2017 and headquartered in Montreal, Canada, Fundica is a government funding platform used by some of the largest financial institutions in North America to acquire clients at scale. LinkedIn.


Horizn

Founded in 2012 and headquartered in Toronto, Canada, Horizn helps financial institutions maximize the impact of digital and accelerate returns on digital investments with customers and employees. LinkedIn.


HyperSwitch

Founded in 2022 and headquartered in India, HyperSwitch is an open source payments switch designed to make payments fast, reliable, and affordable. LinkedIn.


Kani

Founded in 2018 and headquartered in Newcastle, U.K., Kani offers end-to-end reconciliation and reporting, automating the back office for payments companies and fintechs, and ensuring accuracy and compliance. LinkedIn.


Lucinity

Founded in 2018 and headquartered in Reykjavik, Iceland, Lucinity combats financial crime with innovative GenAI technology for smarter and faster FinCrime compliance. LinkedIn.


PayTic

Founded in 2020 and headquartered in Charlottetown, Canada, PayTic is a SaaS platform that automates and manages all key aspects of program management: network fees, reconciliation, reporting, and fraud. LinkedIn.


SESAMm

Founded in 2014 and headquartered in Metz, France, SESAMm specializes in big data and artificial intelligence, providing analytics from more than 20 billion articles and messages using NLP. LinkedIn.


Here is our look at fintech innovation around the world.

Central and Eastern Europe

Middle East and Northern Africa

Central and Southern Asia

Latin America and the Caribbean

Asia-Pacific

Sub-Saharan Africa

Obie Brings Home $25.5 Million to Bring Embedded Insurance to Real Estate Investors

Obie Brings Home $25.5 Million to Bring Embedded Insurance to Real Estate Investors
  • Real estate-focused insurtech Obie announced it received $25.5 million in funding.
  • The Series B investment brings Obie’s total raised to $39 million since it was founded in 2017.
  • Obie’s embedded insurance tool helps change the way insurance for landlords and real estate investors is bought and sold.

Insurtech company Obie announced a Series B round today. The company will use the $25.5 million investment to help change the way insurance for landlords and real estate investors is bought and sold.

Today’s round brings Obie’s total equity raised to $39 million, following the $10.7 million the company raised in its 2021 Series A round. Battery Ventures led the investment, which also saw participation from Brick and Mortar VC, DivcoWest, and real estate funds and investor groups. 

“We’re excited to have the ongoing support of our investors as we continue to build insurance products that drive efficiency and change the way insurance is bought and sold,” said Obie Co-founder and CEO Ryan Letzeiser. “This funding supports the future of embedded insurance, as we expand our partnerships across industries and offer additional insurance products to clients.”

Obie was founded in 2017 to improve the way insurance was bought and sold in the real estate investing industry by launching an embedded insurance option. The company’s embedded insurance solutions underwrite investors by pulling more than 1,000 data points from multiple databases. Additionally, it creates a better user experience by offering instant, bindable quotes via its partner platforms, such as Baselane, Awning, and Marketplaces Homes.

Obie has grown 300% over the past two years. And with 18 million real estate investors across the U.S., the company expects to continue that trajectory. Earlier this month, Inc. Magazine named Obie to its 2023 Best Workplaces List.


Photo by Curtis Adams

Payroll Connectivity Firm Argyle Announces New Customers, Unveils Latest Edition of Platform

Payroll Connectivity Firm Argyle Announces New Customers, Unveils Latest Edition of Platform
  • Payroll connectivity platform Argyle announced that it has onboarded more than 35 new customers year over year.
  • The New York-based company also unveiled the latest edition of its platform, Argyle 2.0.
  • Argyle made its Finovate debut last May at FinovateSpring 2022.

Payroll connectivity platform Argyle is crediting its new customers – more than 35 of them – for doubling the number of customer verifications the company has facilitated year over year. The announcements from the New York-based firm arrive as the company unveils the latest edition of its technology, Argyle 2.0.

“We’ve packaged five years of learning and innovation into our next-gen platform to continue automating critical workflows, reducing business risk, and providing exceptional experiences,” Argyle founder and CEO Shmulik Fishman said. “The growth of our company over the past year echoes the demand for real-time access to reliable, direct-source data.”

Argyle offers businesses direct-source data portability tools for mortgage, lending, banking, background, and tenant screening, among other use cases. With Argyle 2.0 the company seeks to change the way businesses are able to retrieve and use income and employment data – a key factor in expanding access to financial services. Lake Michigan Credit Union VP of Mortgage Strategy John Harpst praised the company’s technology for its ability to provide “a complete picture for the member without the concern that we missed important information that could affect the outcome of their loan approval.”

Argyle’s new platform also features updates to Argyle Link, Console, and API. Argyle Link is the platform’s front-end interface which enables consumers to connect their accounts and share income and employment data with service providers in real-time. Argyle Link also supports the manual upload of income documents. The company notes that it covers more than 210 million U.S. consumers and 95% of Fortune 1000 companies. This enables Argyle to achieve a verification “hit rate” that is 5x better than other solutions.

Founded in 2018, Argyle made its Finovate debut at FinovateSpring 2022. At the conference, company co-founder and COO Billy Marsden demoed the latest design update of Argyle’s platform. The redesign helped increase transparency, decrease drop-off rates, and improve the overall look at feel of the technology for end users.

Argyle has raised more than $77 million in funding, according to Crunchbase. The company’s investors include Bain Capital Ventures and Checkr.


Photo by Pixabay

Process Inefficiencies are Costing Card Programs Millions

Process Inefficiencies are Costing Card Programs Millions

This is a sponsored post by Kate Firuz, Product Director, PayTic

It seems that every day, a new credit, debit, or prepaid card product hits the market, each one with more bells and whistles than the last. While this is fantastic for the card holders who are collecting points and tapping their way into cash back, the work and procedures that are required to maintain the program remain largely archaic. Manual invoice reviews (or lack thereof), manual data reconciliation, and you guessed it, manual dispute filing can result in millions of dollars wasted a year and missed growth opportunities, even for small to medium size programs.

Card programs are a result of the partnering between three key players – the card network, the issuing processor, and the sponsor bank (BIN Sponsor). Only with this tri-party handshake can a fintech, credit union, or bank launch a new program, either via physical or virtual cards. So, what does it take to ensure that the program is a success? That it brings value to card holders and share holders alike.

The key to longevity, and ironically where most card programs are the weakest, is in data management. When more than one party is involved in even a single transaction, creating a transaction system-of-record to keep everyone in sync can be a challenge; and when millions of transactions run through a card program every single day, you will quickly find that you have a program that will not scale. When the data doesn’t align, and the story looks complicated, it means three things for card programs:

  1. Excessive operating costs
  2. Compliance and data reporting challenges
  3. Inefficient dispute processing

Every month, the card networks send an invoice, billing the card program for their activity and any additional services they may have. This sounds simple enough, but mixed in with the standard line items, are often non-compliance penalty fees levied against the program. You may wonder how card programs that under-go so much vetting can act in a non-compliant way – the truth is that most of them are not even aware of the issues. The non-compliance fines are often related to data reporting and improper reconciliation. There is one simple fact that all programs must know – if your reported numbers don’t match the network’s numbers, there’s a fine for that. These “numbers” refer to a very specific set of reporting requirements including transaction count, credits, debits, chargebacks, and fraud cases just to name a few. Remember that every single action runs through at least 3 parties – the network, the issuing processor, and the core banking – each with their own file types, reporting cadence and data structures. Our clients, who represent a range from fintech to credit unions and traditional banks, have all struggled to align their data without the help of an automated system to match and parse data.

Let’s summarize the situation – in addition to customer service, dispute resolution, fraud monitoring, AML and KYC, a card program is responsible for ensuring that all their data is accurate and reported on time. When this doesn’t happen, fines result in higher than necessary invoices, and complicated invoices mean that the fines can go unnoticed, allowing the cycle to perpetuate for years.

The last, yet critical piece impacted by poor data flow is dispute management. No card program can function without proper fraud and dispute handling procedures. The data required to locate, investigate and submit a transaction for a dispute follows the same path as any transaction, plus the additional layers of going to the acquiring bank and merchant for their input. The traditional dispute lifecycle takes at least 45 days and is riddled with blind spots as the claim enters the review process. When access to transaction meta-data is available in real time and therefore the right questions are available to the processing agent, a dispute can begin and end within a matter of a few days, and usually in the favor of card program. The result of the dispute then needs to be updated in the card programs ledger, accounting system, and quarterly report. Again, delays in processing lead to delays in reporting and result in fines – the theme of the situation is quite clear!

More and more issuing institutions are turning to 3rd party technology providers that can break through the noise and paperwork of payment program management. Automated systems that can collect, analyze, organize, and produce exceptions in seconds are showing financial institutions a freedom and confidence that was once thought impossible. With the burden of data management lifted, card programs can focus on growth and card holder value, instead of manual back-office work.

Visit the PayTic booth at FinovateSpring 2023 to learn how our automated invoice, data and dispute modules mean time and money saved instantly for your card programs.

Tyro Payments Launches Tap to Pay on iPhone

Tyro Payments Launches Tap to Pay on iPhone
  • Tyro Payments enables in-person, contactless payments for its users.
  • The new functionality is made possible courtesy of an integration between Apple’s Tap to Pay on iPhone and Tyro BYO App.
  • Tyro Payments made its Finovate debut at FinovateSpring 2017.

Australia-based Tyro Payments announced today that its customers in-country can now accept in-person, contactless payments. Courtesy of the new Tyro BYO App, the company’s customers will be able to seamlessly and securely take advantage of Apple’s Tap to Pay on iPhone contactless payment acceptance technology.

“Tap to Pay on iPhone is a fantastic simple and secure way for new or existing Tyro customers to accept payments using only their iPhone, anytime, anywhere – without the need for additional hardware,” Tyro CEO Jon Davey said. “We are excited to provide this new offering to our customers, providing greater flexibility when staff are working on-site or on the move.”

Tap to Pay on iPhone only requires an iPhone and the Tyro BYO app in order to accept contactless payments. These payment options include Apple Pay, contactless credit and debit cards, as well as other digital wallets. To use Tap to Pay on iPhone, users simply need to hold their Apple mobile device (iPhone or Apple Watch) near the merchant’s iPhone. Payments are completed securely using NFC technology. PIN entry, with multiple accessibility options, is also available. Tap to Pay on iPhone users also benefit from Apple’s commitment to privacy and security insofar as Apple does not store card numbers on the mobile device nor on its servers.

Founded in 2003 and headquartered in Sydney, Australia, Tyro Payments made its Finovate debut at FinovateSpring in 2017. At the event, the firm demoed its first lending product, Smart Growth Funding. This offering became the first lending solution released by an Australian challenger bank. In the years since then, Tyro has grown into a leading paytech with more than 600 employees; more than 66,000 customers; and more than $150 billion in transactions since inception. Going public in 2019, the company celebrated its 20th year in operation in February.

“From Australia’s largest EFTPOS provider outside the big four to streamlined business lending and banking products, I’m proud of how Tyro is powering the future of payments and business, both now and into the future,” Davey said.


Photo by Catarina Sousa

Ripple Acquires Metaco for $250 Million

Ripple Acquires Metaco for $250 Million
  • Ripple acquired Metaco for $250 million.
  • The acquisition will help Ripple enter into the crypto custody market, enabling clients to custody, issue, and settle any type of tokenized asset.
  • Both BNY Mellon and NASDAQ have made recent moves in the crypto custody market.

Blockchain-based payments network Ripple announced its latest acquisition this week, picking up digital asset management solutions company Metaco for $250 million.

The move will help Ripple enter into the crypto custody market, which is expected to reach $10 trillion by 2030. Specifically, it will enable Ripple to expand its offerings, providing customers the technology to custody, issue, and settle any type of tokenized asset.

“Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record,” said Ripple CEO Brad Garlinghouse. “Through the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.”

Founded in 2015, Metaco helps non-traditional financial institutions securely build their digital asset capabilities. The Switzerland-based company’s flagship offering, Harmonize, helps banks, regulated exchanges, and fintechs issue, store, trade, transfer, settle, and service digital assets. Metaco has more than 100 employees that serve clients in more than 15 countries.

Regarding today’s acquisition, Metaco Founder and CEO Adrien Treccani said, “This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our clients at a faster pace. We look forward to continuing to serve unprecedented levels of institutional demand with the utmost excellence in delivery, as our clients have come to expect.”

Today’s acquisition comes during a time when interest in the crypto custody space is heating up. BNY Mellon offers digital asset custody for U.S. asset managers, and NASDAQ is planning to launch crypto custody services for Bitcoin and Ethereum by the end of this summer.

Ripple was founded in 2012 and offers tools for global money transfers, CBDCs, and digital assets. Earlier this month, the company expanded its Middle East operations, opening a new office location in the Dubai International Financial Centre (DIFC).


Photo by Karolina Grabowska

Where Are They Now? Catching Up with FinovateSpring 2022’s Best of Show Winners

Where Are They Now? Catching Up with FinovateSpring 2022’s Best of Show Winners

FinovateSpring 2023 is only days away! If you have already registered for our annual spring fintech conference – May 23 through May 25 – great! We’re looking forward to showing you the latest innovations from many of fintech’s most exciting companies. We’re also happy to be returning to San Francisco, California – where there’s plenty of opportunity for both networking and leisure when the conference day is done.

And if you have not already registered, then there’s no better time than the present to visit our FinovateSpring 2023 hub and save your spot. To whet your appetite, here’s a look back at what the Best of Show winners from last year’s event have been up to in the time since taking home Finovate’s top prize.


Array

  • HQ: New York City, New York
  • Founded: 2020
  • CEO: Martin Toha
Pictured: Leigh Gross, SVP, Sales and Business Development

Demoed Array’s financial enablement platform, specializing in embeddable tools and white label solutions, used by leading financial institutions. Demo video.

Updates since Spring 2022

  • Partnered with Jack Henry to offer consumers personalized credit and financial insights.
  • Teamed up with Alkami to helps banks boost digital engagement.
  • Integrated with Q2’s digital banking platform to offer products including My Credit Manager.
  • Launched Credit-Builder Loans-as-a-Service solution, BuildCredit Loan, a private-label installment loan product.

FinGoal

  • HQ: Boulder, Colorado
  • Founded: 2019
  • CEO: David Nohe
Pictured: Ariam Sium, VP of Product | Jenn Underwood, Product Analyst

Demoed FinGoal’s insights platform that cleans, enriches, and analyzes personal financial data to better understand users and provide actionable insights. Demo video.

Updates since Spring 2022


Horizn

  • HQ: Toronto, Canada
  • Founded: 2011
  • CEO: Janice Diner
Pictured: Colm Bermingham, Director Sales | Steve Frook, SVP Global Sales

Demoed Horizn’s platform that helps banks globally accelerate digital banking knowledge, fluency, and adoption with both customers and employees. Demo video.

Updates since Spring 2022

  • Partnered with ebankIT to support digital transformation.
  • Won Best of Show at FinovateFall 2022 in New York.
  • Teamed up with Coventry Building Society to provide skill development for branch workers.

Keep Financial Technology

  • HQ: Atlanta, Georgia
  • Founded: 2022
  • CEO: Rob Frohwein
Pictured: Rob Frohwein, CEO | Troy Deus, Co-founder & Head of Experience

Demoed Keep Financial Technology’s innovation that solves the hiring and retention challenges of companies by introducing a new form of employee compensation called Cash Vesting Plans. Demo video.

Updates since Spring 2022

  • Raised $9 million in seed funding in a round led by Andreessen Horowitz.
  • Launched its Keep compensation platform and initial Keep Vesting Cash Plans.
  • Introduced KEEP Performing, adding defined goals to its platform.

QuickFi

  • HQ: Fairport, New York
  • Founded: 2018
  • CEO: Bill Verhelle
Pictured: Nate Gibbons, Chief Operating Officer | Jillian Munson, Technology Project Manager

Demoed QuickFi’s 100% digital, self-service mobile equipment financing platform that enables business equipment financing in minutes. Demo video.

Updates since Spring 2022

  • Won “Best SMB/SME Banking Solution” at the 2022 Finovate Awards.
  • Announced a partnership with 3D printing ecosystem manufacturer Ackuretta.
  • Named “Best Overall LendTech Company” in the 2023 FinTech Breakthrough Awards for a second year in a row.

Spave

  • HQ: East Lansing, Michigan
  • Founded: 2021
  • CEO: Susan Langer
Pictured: Susan Langer, CEO | Sarah York, Chief Marketing and Digital Officer | Christen Wright, Head of Product

Demoed Spave’s all-in-one financial wholeness app that allows users to effortlessly save and give as they spend. Demo video.

Updates since Spring 2022

  • Announced that its founder CEO Susan Langer has been named a “2022 Dealmaker of the Year” by Smart Business Dealmakers of Charlotte, North Carolina.
  • Featured its partnership with non-profit chaplaincy, Salt & Light Partners.
  • Commemorated Financial Literacy Month with new nonprofit partner Lemonade Day Houston.