FinDEVr London 2017: Welcome to Day One

Welcome to FinDEVr 2017 London!

The first presentation begins at 9:30 Monday morning. There will be four sessions today, with presentations from 13 companies. There will 30-minute coffee breaks in the morning and afternoon and, during lunch, there will be three roundtable discussions led by FinDEVr presenters. Day One concludes with an hour-long networking session and Happy Hour with open bar.

And before you head out to the event, don’t forget to download the FinDEVr London event app. You can use the app to schedule meetings, vote for your favorite presentations daily, access the attendee list and more! To download the app, search “FinDEVr” in the Apple App Store or Google Play Store. Join by logging in with the email address you used to register for the event. If you’re not able to join, please email london@findevr.com for assistance.

Presentation Session: 9:30 to 10:55

  • 09:35 Trulioo
    Trulioo API = Global Electronic Identity Verification + ID Document Verification + AML Screening
  • 09:55 NuCypher
    Body Armor for Big Data
  • 10:15 Currencycloud
    Flexible APIs in Action
  • 10:35 HackerOne
    Tapping Hackers to Improve Security

<<Coffee Break: 10:55 to 11:30>>

Presentation Session: 11:30 to 12:30

  • 11:30 Rangle.io
    How JavaScript is Radically Changing the Way Financial Institutions Create Enhanced Customer Experiences Fostering Creativity
  • 11:50 Trusted Key
    Secure Digital Identity
  • 12:10 Zuhlke Engineering
    Digital Transformatiom of HSBC – or Changing the Engines of a Jumbo in Flight

<<Lunch Roundtable Discussions: 12:30 to 13:30>>

  • 12:30 Led by Trusted Key’s CEO, Prakash Sundaresan: Fintech climate change: Top challenges & regulatory impacts facing the financial services environment.
  • 12:30 Led by Trulioo’s Anatoly Kvitnitsky, VP of Growth and Mike Kim, Strategic Accounts Manager: AML, KYC, OMG: How to manage compliance with a smaller team and a better UX.
  • 12:30 Led by NuCypher’s MacLane Wilkison, CEO, and Michael Egorov, CTO: Regulatory compliance and data protection in the era of GDPR and PSD2 

Currencycloud Sponsored Lunch (Invite Only) 12:30-13:30

Presentation Session: 13:30 to 14:50

  • 13:30 LeanXcale
    Blending Operational & Analytical Capabilities for Fintech Data Intensive Applications
  • 13:50 Kontomatik
    FinTech Dictionary: Learn How to Navigate through the FinTech Bull*
  • 14:10 ISARA
    Why (and How) You Should Make Your FinTech Security Quantum Safe Today
  • 14:30 Cognitect
    Unlocking Hidden Value in Your Data

<<Coffee Break: 14:50 to 15:20>>

Presentation Session: 15:20 to 16:00

  • 15:20 TokBox
    Financial Services in the Social Age: Cost or Opportunity
  • 15:40 Ixaris
    2017 – The Year of Open Payments: Exploiting Disruption in the Payments Industry with the Open Payments Cloud

<<Networking with open bar & appetizers: 16:00 to 17:00>>

FinDEVr London: Tech Talk at the Tobacco Dock

Is it any surprise that data is at the center of our Theme Cloud for FinDEVr London 2017?

Think about it. Everything is about data. Security is about safeguarding our data. APIs are about accessing and sharing data. Behavior analytics helps us undercover and utilize new forms of data – the unique timbre of a voice, patterns of strokes on a touchpad – that we previously didn’t even consider as data. Fraud prevention, KYC, digital identity … all of these themes are both top of mind for fintech professionals and critical applications of, you guessed it, data.

During one of the many insightful presentations from our developers conference in the States earlier this year, Sandeep Sood, VP of Software Engineering for Capital One, underscored how central data is to the trajectory of technological change, including in fintech. After pointing out that the mathematic underpinning for recent breakthroughs like facial recognition has been available since the late 1880s, Sood asked, “then why has it taken so long for us to have facial recognition technology?”

“The mathematics were never the limiting factor when it came to this sort of technology and our ability to do artificial intelligence and machine learning,” Sood explained. “Nor was it the computing power. The major breakthrough in the last 10 years was actually access to data.” Sood quoted Google Research Director, Peter Norvig who said, “We don’t have better algorithms. We just have more data.”

FinDEVR London starts tomorrow. Launched in Silicon Valley in the fall of 2014, our developers conference has brought together hundreds of professionals who specialize in tackling some of fintech’s trickiest challenges from the inside out. And as our Title Cloud for this week’s event shows, these professionals include everyone from Chief Technology Officers and IT Heads to software engineers, developers, and architects. These are the individuals whose names are often not well known, but whose talent and hard work is what enables us to manage our finances on our smartphones, safeguard our online identities against cybercriminals, and so much more.

Our two-day event runs all day Monday and Tuesday. Both days will feature 15-minute presentations from a wide variety of fintech professionals – all with explicitly technical backgrounds. FinDEVr London will also provide plenty of opportunities for attendees to mix, mingle, and meet up with our presenters, our sponsors, and their fellow attendees. For our first U.K. developers conference, we’ve added a handful of new features designed to help you maximize your time at FinDEVr London. These include lunchtime roundtable discussions led by our presenters, and a special panel on the open banking era hosted by the Finovate research team.

Tickets to this week’s conference are still available. So be sure to stop by our registration page and save your spot today. In the meanwhile, to help you get ready for the conference, here are a few things to know to help you make the most of your FinDEVr London experience.

Time & Date

  • FinDEVr London takes place on Monday, 12 June, and Tuesday, 13 June. Registration opens at 8:30am and the first presentation begins at 9:3oam on both days.

Location

  • FinDEVr London will be held at London’s Tobacco Dock at Tobacco Quay, Wapping Lane, St Katharine’s & Wapping, London E1W 2SF.

Agenda

  • Get a preview of what’s coming over the two days of FinDEVr London.  Presentations and presenters, roundtables, our panel, networking … check out our agenda to see what’s happening when.

Learn about the companies that will be presenting at FinDEVr London 2017 in our FinDEVr Previews series, while our FinDEVr Interviews give you a change to find out more about the teams behind the technologies. And if you like what you read, we hope we’ll see you bright and early Monday morning at the Tobacco Dock for FinDEVr’s U.K. debut.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

Quisk Deploys Blockchain Technology

Originally published at Finovate.com.

When the going gets tough, the tough go blockchain.

That’s the takeaway from the news that payment network platform Quisk will store its transaction ledgers on a private blockchain. The blockchain layer will work with Quisk’s existing platform and APIs to give banks easy access to transaction data such as merchant settlement and bank reconciliation via their own backend systems.

“We are excited to be leveraging the tremendous power of Blockchain technology to propagate trust among our customer banks,” Quisk CTO Praveen Amancheria said. “This technology eliminates barriers, giving banks the ability to easily and securely access their transaction data.” Amancheria called blockchain “the next internet for the financial industry” and added that “the tools to retrieve data from (the) Blockchain will soon be as ubiquitous as web browsers.”

Pictured (left to right): Quisk CTO Praveen Amancheria and CMO Dan Glessner demonstrating the Quisk digital services platform at FinovateFall 2015.

Quisk has developed a technology, digital cash, that enables banks to take advantage of the 85% of all retail transactions worldwide that are still cash-based. “Banks make nothing when cash is used,” Quisk CMO Dan Glessner explained during the company’s demo at FinovateFall. “We enable banks to create a new type of account, and to monetize the digital cash transactions.” Quisk partners with issuing and acquiring banks to create what Amancheria called an “open interoperable payment network.” He said: “we have a very ambitious goal: we want to do for cash what Visa and Mastercard have done for credit.”

Users of the new accounts can access their money using their smartphone and a PIN. The platform supports 14 different transaction types including P2P and P2M (person-to-merchant), and works with incumbent POS systems. As part of the company’s Finovate demo, Glessner and Amancheria showed how a consumer could make a purchase without cash, debit or credit card, or even the physical smartphone itself simply using his moible phone number and PIN. Moreoever, as Amancheria reminded the banks in the audience, “if Dan had paid with cash, the banks would have made zero. But because Dan used Quisk, banks have the opportunity to make money off of this digital cash transaction.” Amancheria also highlighted the digital loyalty and rewards opportunities available to merchants using the Quisk platform, as well.

Pictured: Quisk CTO Praveen Amancheria during his presentation at FinDEVr Silicon Valley 2015.

Glessner and Amancheria underscored how the technology was especially beneficial in helping banks work with underserved communities. Because the technology works with both smartphone and feature phones, and on all types of mobile network operator services, Amancheria said, “banks can reach out to the widest possible market segment and acquire new types of customers … those who have mobile phones but no bank accounts.”

Founded in 2010 and headquartered in Sunnyvale, California, Quisk demonstrated its platform at FinovateFall 2015. The company also participated in our developers conference, discussing the technology behind its digital services platform at FinDEVr 2015 Silicon Valley. Last year, Quisk deployed its technology at National Commercial Bank Jamaica Limited (NCB) and with Network International in UAE. The company has raised $5 million in funding and includes Acadia Woods Partners and Plug and Play among its investors.

Trulioo and the Regtech Revolution: How Smaller Teams Tackle the Compliance Challenge

Highlighting the fact that regulation is a key barrier to growth for banks, a post at the Trulioo blog earlier this month underscored how important it was for FIs to leverage technology to meet these challenges. “To help grow their role and create effective change, compliance needs to embrace the process and tools of change, innovation, and technology,” the blog authors wrote. They added, “The future of AML compliance will need to consider Robotics, Machine Learning, Data Analytics, AI, and even Business Process Management solutions.”

The authors also noted that improving the user experience for the customer can also have the benefit of improving the experience for the compliance officer, as well. Further, they pointed out that even senior executives gain from the improvements technology can bring to the compliance challenge. “With the ease of digital onboarding processes,” the authors wrote, “companies can acquire new customers faster and easier than before.” The possibility of smaller, more effective compliance teams is another advantage that cannot be overlooked. “Instead of increasing head-count, companies can invest in scalable processes that save money and allow compliance to focus on sophisticated fraud cases,” the post concludes.

Pictured: Anatoly Kvitnitsky of Trulioo during his presentation, “Trulioo’s Global Gateway,” at FinDEVr 2014 Silicon Valley.

Do the solutions to the compliance challenges faced by financial institutions lie in smaller teams and a better user experience? Join Trulioo VP of Growth Anatoly Kvitnitsky and Mike Kim, Strategic Accounts Manager as they host our FinDEVr London roundtable discussion, “AML, KYC, OMG: How to manage compliance with a smaller team and a better UX. Trulioo’s roundtable takes place on Monday, 12 June on Day One of our developer’s conference.

A specialist in online ID verification, Trulioo leverages more than 200 data sources to provide AML compliance assistance, age verification for online gambling and liquor sales, KYC and trusted entities validation for account opening and maintenance, as well as reduce transaction risk for e-commerce merchants. Named to CNBC’s fifth annual Disruptor 50 earlier this month,  Trulioo also announced a partnership with fellow Finovate alum Mitek that would add a second level of biometric authentication to the ID Document Verification feature of its GlobalGateway platform. “This new partnership with Mitek ensures our clients continue to have instant access to powerful tools for their fraud prevention and compliance systems,” Trulioo CEO Stephen Ufford said.

Don’t miss Trulioo’s lunchtime roundtable, “AML, KYC, OMG: How to manage compliance with a smaller team and a better UX” on the first day of FinDEVr London, Monday, 12 June. Visit our registration page to save your spot today.

FinDEVr Preview: ISARA

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr London 2017, 12  & 13 June. Tickets are on sale now. Visit our registration page and save your spot today.

The emerging quantum threat to cybersecurity affects global financial institutions. Next-generation security options can provide resistance to quantum computer attacks. ISARA will present a demo of those options for securing an online banking connection against current and future attacks, and give expert recommendations for quantum safe security transition strategies.

Why it’s a must-see:

Fintech developers must respond to the needs of an industry making long-term strategic bets on emerging technologies while also protecting against emerging cybersecurity threats, including quantum computers. The quantum threat requires careful risk analysis, and quantum safe implementations can and must begin today to avoid future liability.


Check out more previews of upcoming FinDEVr London 2017 presentations. Visit our registration page to save your spot today.

FinDEVr Preview: eSignLive by VASCO

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr London 2017, 12 & 13 June. Tickets are on sale now. Visit our registration page and save your spot today.

With E-Signatures for Mobile Account Opening & Customer Behaviour Insights, eSignLive by VASCO will demonstrate how to add e-sign features to your apps and enable a secure yet frictionless mobile account opening process. The presentation will also show you how to pinpoint areas of drop-off or confusion, and then use those insights to further optimize the overall customer experience.

Why it’s a must-see:

Integration should happen faster than pizza delivery. With native mobile e-signature SDKs, developers can turbocharge their mobile apps with e-signing capabilities in less than 30 minutes. Extensive options to customize the appearance of the UI and strong authentication (e.g. biometrics) enable a secure yet frictionless mobile account opening experience.


Check out more previews of upcoming FinDEVr London 2017 presentations. Visit our registration page to save your spot today.

Online Lending Innovator SoFi Launches Robo Advisor

Less than a month after announcing its new $105 million SoFi Prime Income Fund to help raise funds to issue loans, online lending innovator SoFi is making headlines again with the launch of SoFi Wealth. The new initiative, the company’s first digital wealth management offering, will allow investors in the U.S. to invest as little as $500 (or a $100 monthly recurring deposit) in automated, low-cost, ETF portfolios. But unlike many roboadvisors, clients of SoFi Wealth will have phone and/or chat access to human financial advisors.

SoFi believes that keeping human advisors as part of the overall investment picture is a plus for investors, especially the younger professionals that are a significant part of the company’s user base. “People love the low fees and automation of robo-advisors, but they struggle with not having an actual human being to talk to when facing big financial questions,” SoFi Wealth general manager, John Gardner said. “That guidance from a live advisor can help give them the confidence they need to start planning for a lifetime of financial success.”

Pictured (left to right): SoFi Wealth Head of Strategy Stephen Sikes and Quovo CTO and co-founder Michael Del Monte during their FinDEVr 2017 New York presentation, How Quovo & SoFi Perfected Bank Authentication.

In addition to providing live human advisors, low investment minimums, and access to low-cost automated ETF-based portfolios, SoFi Wealth also charges no management fees for clients who are also SoFi loan borrowers. Others pay a modest management fee of 0.25%, with no charge on the first $10,000 invested. Clients can access their accounts online, as well as via the SoFi Wealth app. Both Android and iOS versions are available.

The company also announced that it is developing a broader range of personal finance and financial planning solutions geared toward first-time home buyers and young families. SoFi anticipates rolling out these products and services over the summer of 2017.

Founded in 2011 and headquartered in San Francisco, California, SoFi made its FinDEVr debut earlier this year at FinDEVr 2017 New York. The company, in partnership with Quovo, discussed the challenge of managing consumer financial accounts in a presentation titled, How Quovo & SoFi Perfected Bank Authentication.The presentation focused on how Quovo developed a bank authentication API for SoFi that both improved security and streamlined UX. FinDEVr attendees gave the presentation a FinDEVr Favorites awards in the Favorite FinDEVr Alum category.

A member of CNBC Disruptor 50 for 2017, SoFi has raised more than $1.8 billion in funding – making the company one of fintech’s true “unicorns” – and includes Baseline Ventures, DCM Ventures, Discovery Capital, East West Bank and Morgan Stanley among its equity and debt investors. The company, which has origins in student loan financing, has since expanded significantly to include mortgage lending, personal loans, life insurance, and wealth management among the services it provides. Mike Cagney is CEO.

FinDEVr APIntelligence

Our first developers conference in the U.K. is just over a month away. If APIs and SDKs are just a few of your favorite fintech acronyms, then join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

FinDEVr 2017 London is a part of London Tech Week, which runs from June 12 to June 16.

On FinDEVr.com

  • Symbiont Gains “Strong Partner in Asia” with Investment from Hundson Technologies.

Upcoming FinDEVr 2017 London alum news

  • Check Out Our Exclusive Interview with ISARA CEO, Scott Totzke.
  • Our latest FinDEVr Features Are Up. Meet Kontomatik and IdentityMind Global.

Alumni updates

  • Kontomatik earns top 50 spot in the 2017 Dutch FinTech Awards. Join Kontomatik in London for FinDEVr in June.
  • ACI Worldwide’s point-to-point encryption solution earns PCI P2PE compliance validation.
  • Thoma Bravo to Acquire Lexmark’s Kofax.
  • MapD partners with Continuum Analytics & H2O.ai, to form the GPU Open Analytics Initiative.
  • Thinking Capital to offer SMB financing options to TouchBistro POS clients.
  • Token Picks Up $18.5 Million to Help Banks Rise to Challenge of PSD2.
  • PayNearMe adds 8,000 CVS Pharmacy Stores to its network cash acceptance locations.
  • CardFlight unveils new line of mobile card readers to support secure EMV and NFC contactless payments.
  • Gartner recognizes OutSystems as a leader in enterprise high productivity application platform as a service technology.
  • Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

 

Symbiont Gains “Strong Partner in Asia” with Investment from Hundson Technologies

The amount of the investment was undisclosed. But blockchain startup and smart contracts specialist, Symbiont has picked up funding from China-based Hundsun Technologies. The investment in Symbiont is the first in the U.S. for the financial services software provider and the company, which is partly-owned by Alibaba founder, Jack Ma, will also add an observer to Symbiont’s board of directors. Symbiont CEO Mark Smith referred to the investment as a “clear vote of confidence for Symbiont” and called Hundsun Technologies a “strong partner in Asia.”

Symbiont’s innovation is a smart contracts platform that enables FIs to develop applications based on distributed ledger technology. Current use cases enabling the issuance, trading, and processing of corporate bonds, syndicated loans, and other low-liquidity financial instruments. Guan Xiaolan, executive president of Hundsun highlighted the company’s “superior, mature, and highly differentiated DLT stack,” as well as the technology’s high level of security. “Its smart contracts have a proven ability to automate complex business logic, such as highly tailored employee compensation waterfalls for private companies,” he added.

Pictured: Symbiont CTO and co-founder Adam Krellenstein during his presentation at FinDEVr New York 2016.

It has been almost a year since the State of Delaware partnered with Symbiont in a project called The Delaware Block Initiative designed to make it easier for state government and businesses to leverage blockchain technology. In an update published as part of the Delaware law series last month, Andrea Tinianow of the Delaware Blockchain Initiative and Caitlin Long of Symbiont noted that the “first milestone of DBI’s roadmap” – deploying distributed ledger technology at the state’s public archives – had been achieved. Underscoring the relevance of this initial effort, the two wrote: “By being the first to adopt the technology, the State will maintain its leadership in corporate registry services.”

Also this spring, Symbiont added Yale University computer science professor, Dr. Zhong Shao, to its Technical Advisory Board, and partnered with commodity services specialist, Orebits, who will use Symbiont’s smart contract technology to further develop their eponymous commodity-backed digital assets. The first digital assets, called “orebits,” were made available on Symbiont’s platform in March.

Symbiont was founded in 2015 and is headquartered in New York. Adam Krellenstein, CTO and co-founder of the company, presented “Distributed Ledgers and Smart Contracts” at FinDEVr New York 2016.

FinDEVr Veteran OutsideIQ Acquired by Exiger

Originally published at Finovate.com.

The news last week that due diligence innovator OutsideIQ agreed to be acquired by compliance specialist, Exiger, is a sign that the RegTech revolution in fintech is real. OutsideIQ founder and CEO Dan Adamson said the acquisition was a “logical step in our shared view of the dominant role that cognitive computing solutions will play in compliance.” Business Insider reports that Exiger paid $22 million (C$30 million) for the Toronto, Ontario, Canada-based company.

OutsideIQ’s flagship technology DDIQ leverages automation and human analysis to detect potential regulatory risks that often go overlooked by currently-used methods. Geared toward financial institutions, investment firms, and large enterprises, the technology automatically scans publicly available information for any data on the subject and provides auditable reports on the findings. Exiger Analytics president Brandon Daniels noted that transaction alert monitoring, KYC/AML, onboarding, and counterparty/ third party risk at the enterprise level are among the challenges DDIQ will help Exiger address. “The acquisition … will augment our ability to deliver purpose-built, AI-based solutions that transform how global banks and multi-national corporations meet the evolving expectations of regulators looking for truly measurable and auditable solutions,” Daniels said.

Founded in 2010 and headquartered in Toronto, Ontario, Canada, OutsideIQ presented its technology at FinDEVr Silicon Valley 2016. In March, the company partnered with SAP Ariba, and teamed up with Genpact to provide better KYC and compliance solutions for FIs. We highlighted OutsideIQ last fall in our RegTech Reality Check. OutsideIQ first demonstrated its due diligence technology, DDIQ, to Finovate audiences at FinovateSpring 2016.

OutsideIQ is Exiger’s largest acquisition to date. Exiger was founded in 2013 to provide court-mandated oversight of HSBC, “the most comprehensive monitoring assignment ever awarded by the Department of Justice” according to the company. Additionally, Exiger serves clients worldwide through its offices in New York, Toronto, London, Hong Kong, Singapore, and Silver Spring, Maryland.