FinDEVr APIntelligence

FDLD17_EventLogoV1_wdate(large) (1)We saw some great stuff at FinDEVr New York last month; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

  • Xero sees $26.4 Million investment

Alumni updates

  • Money management app, TD MySpend from TD Bank, closes in on one million users.
  • ACI Worldwide broadens its relationship with Ant Financial Services mobile payment provider, Alipay.
  • PayPal teams with Android to launch a new way to pay.
  • i-exceed earns Gartner Magic Quadrant recognition as notable vendor in Asia Pacific for mobile app development platforms.
  • Former Kabbage CTO Amala Duggirala joins Regions Bank as its new CIO.
  • FICO announces partnership with economic empowerment non-profit, Operation HOPE.
  • Forrester names Kofax a leader in ECM transactional content services.
  • OutSystems launches global partner program, connecting integrators, resellers, and consultants to its low-code development platform.

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

Xero Sees $26.4 Million Investment

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Cloud accounting firm Xero recently picked up $26.4 million in new funding. The New Zealand based-company received the investment from U.S.-based Technology Crossover Ventures (TCV).

TCV now holds a 1.3% stake in Xero, having purchased shares of the company from Matrix Partners. The deal takes Matrix Partners’ stake in Xero down from 9.8% to 8.5%. Xero CFO Sankar Narayan told Accounting Today, “It is routine that some early-stage investors will rebalance their portfolios and we’re thrilled to receive strong support from new investors who are ready to join Xero for its next phase of growth.”

Xero was founded in 2006 and went public in New Zealand in 2007. In 2012, the company made its public debut in neighboring Australia and announced plans for a U.S. IPO in the near future. Last week, the company was named a 2017 Top Rated Accounting & Budgeting Software on TrustRadius and earlier this year it received accolades from Inc., which listed Xero among eight business apps that are going to “crush it” in 2017.

At FinDEVr San Francisco 2014, Xero’s Head of U.S. Partnerships, David Pollock, gave a presentation titled Building an API-Driven Ecosystem for Small Business to an audience of developers. The company’s CEO Rod Drury last presented at FinovateSpring 2011.

Finicity Inks Data Aggregation Partnership Deal with Wells Fargo

Finicity_homepage_April2017

Originally published at Finovate.com.

With Intuit Financial Data Services leaving the data aggregation scene last spring, we knew it would be only a matter of time before former rivals rose to take advantage of the new opportunity. Today we learn that one of those companies, Finicity, has inked a major data aggregation deal with Wells Fargo that will enable its customers’ data to be shared by financial apps and services from Finicity.

The partnership is the first of its type between Wells Fargo and a data aggregation provider and is believed to be a boon for fintech app developers who will be able to access Wells Fargo “customer-permissioned data” via Finicity’s APIs. Finicity CEO Steve Smith said the agreement is part of his company’s plan to “continually implement strategies that ensure the highest levels of data quality, speed, and uptime in our industry.”

Finicity_FinDEVrNY2017_stage

Pictured (left to right): Finicity’s Jessie Morris (Director, Software Development) and Nick Thomas (EVP, Co-Founder) demonstrating Finicity Data Services at FinovateSpring 2015.

In addition to speed, quality, and uptime, enhanced security is another benefit of the agreement. By using direct authorization via Wells Fargo and tokenized access for any additional authentication, the user does not have to provide verification credentials through third-party apps. In the words of Head of Digital for Wells Fargo Virtual Channels, Brett Pitts, “(this) creates a much better experience for our customers … (allowing them) to choose where and how to use their financial data, while also maintaining the privacy of their user credentials.” Finicity says that the technology is expected to be in place over the summer.

American Banker’s Penny Crosman referred to the deal as part of a “data detente” in which banks and fintech companies are increasingly seeing each other more as potential partners than rivals to be disrupted. She noted that the current deal between Wells Fargo and Finicity “is the latest, but is likely not the last” for either firm. Finicity will access Wells Fargo’s data exchange API via the company’s Gateway Channel developer portal unveiled last year.

Founded in 1999 and headquartered in Salt Lake City, Utah, Finicity demonstrated its Data Services at FinovateSpring 2015. The company is also fresh off its latest FinDEVr appearance where EVP and co-founder Nick Thomas and Software Development Director Jessie Morris presented “The Frictionless Aggregation Experience” highlighting the new Finicity Connect drop-in UI widget. In December, Finicity scored a $42 million Series B led by Experian.

WiseBanyan Unveils New Tax Protection Toos

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Free financial advisory platform WiseBanyan released its first premium package this week, Tax Protection. The new services – WiseHarvesting, Selective Trading, and IRA Conversions – enable investors and savers to manage the way their investments impact their taxes. The WiseHarvesting feature helps balance out investment gains with harvested investment losses. Selective Trading keeps investors from owning the same ETFs in multiple accounts. And IRA Conversions enable investors to switch from traditional to Roth IRAs.

The Tax Protection also comes at a low cost. Investors can take advantage of any one of the services for 0.02% of their average account value, with a maximum charge of $20 a month. WiseHarvesting, the company’s first premium service, is already available to WiseBanyan clients. Those currently using WiseHarvesting will be use to add the new services without additional cost.

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Pictured (left to right): Wise Banyan Co-CEO and Co-Founder Herbert Moore and Chief Science Officer Jennifer Chin during their presentation, “Data as an Advantage: Building a Data Warehouse with Open Source Tools” at FinDEVr Silicon Valley 2016.

In a blog post announcing the new service, WiseBanyan Manager of Content Strategy Aliza Kellerman added that the company has “a ton of other packages in the works, all designed to provide additional value to your WiseBanyan experience,” and credited feedback from its “fantastic, passionate, vocal clients” for inspiring new features like Tax Protection.

Pledging to help investors make their first $100,000, WiseBanyan is a free platform that provides automated, goal-based investing and financial planning. With a $1 minimum, investors can provide their investment time horizon, risk aversion, and amount saved, and WiseBanyan builds a portfolio designed to maximize real investment returns on an after-tax basis.  Customer funds are invested in liquid, equity and bond exchange-traded funds (ETFs), and WiseBanyan monitors the portfolios continuously, reinvesting dividends and tracking progress toward the pre-set goal.

Founded in 2013, WiseBanyan discussed its technology at FinDEVr Silicon Valley 2016 last fall, winning “Best Debut Company.” The company’s presentation, “Data as an Advantage: Building a Data Warehouse with Open Source Tools,” was led by co-CEO and co-founder Herbert Moore and Chief Science Officer Jennifer Chin. In March, WiseBanyan won the Startup Pitch competition at SXSW and was also named “judge’s favorite” – earning a $1,000 prize from LaunchKC. The company was featured in Business Insider’s 2017 roster of the 15 Best Roboadvisors and also earned a spot on Nerdwallet’s Best Robo-Advisors: 2017 Top Picks list.

FinDEVr APIntelligence

FDLD17_EventLogoV3_wdate(large)With the presentation videos from FinDEVr 2017 New York now available, be sure to check out all of the great presentations and discussions from the event in our FinDEVr video archives.

And if you’ll be in the U.K. this June (0r want to be), stop by our FinDEVr 2017 London page to learn more about the companies that will be joining us as we take our developer’s conference across the pond for the first time.

Tickets are available now so register today to save your spot.

On FinDEVr.com

  • WiseBanyan Unveils New Tax Protection Tools.
  • Wells Fargo and Finicity Sign Data Aggregation Partnership

Alumni Updates

  • FICO announces partnership with economic empowerment non-profit, Operation HOPE.
  • Forrester names Kofax a leader in ECM transactional content services.
  • OutSystems launches global partner program, connecting integrators, resellers, and consultants to its low-code development platform.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.
  • Visa Checkout achieves 20 million enrolled accounts milestone.
  • Kofax launches cloud-based document capture and invoicing solution, ReadSoft Online R9.
  • OutSystems picks up SOC 2 Type 1 attestation report affirming quality of company’s internal controls and processes.
  • FICO unveils FICO Origination Manager Essentials to accelerate loan decisioning.
  • Datanami interviews MapD CEO and co-founder Todd Mostar.
  • Finland-based OP Financial Group partners with Token to develop new fintech solutions.

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

FinDEVr APIntelligence

FDLD17_EventLogoV1_wdate(large) (1)We saw some great stuff at FinDEVr New York last month; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

  • InComm Partners with WeChat Pay Parent Tencent.

Alumni updates

  • Kabbage extends $3 billion in funding to more than 100,000 small business customers.
  • PayPal extends partnership with Visa into Asia-Pacific region.
  • HyperPay to leverage ACI Worldwide’s Mobile Commerce SDK to offer merchants a mobile checkout solution.
  • FICO launches cloud-based origination solution to help mid-market lenders automate small business lending decisions.
  • Twilio launches programmable fax service.
  • Citi takes API developer hub to Hong Kong.
  • Mastercard Adds to Authentication Arsenal with Acquisition of NuData Security.
  • Xero named a “2017 Top Rated Accounting & Budgeting Software” on TrustRadius.
  • Iroquois Federal Savings & Loan Association to deploy core processing system from Fiserv.
  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

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

InComm Partners with WeChat Pay Parent Tencent

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Prepaid products company InComm is helping to break down geographical barriers. The company’s Japanese arm landed a major partnership today with China-based Tencent Financial Technology, the parent company of WeChat Pay services.

Through the new partnership, WeChat Pay’s 849 million monthly active users will benefit from InComm’s POSA technology that allows Chinese visitors in Japan to use their smartphones to pay for products and services. This will grow the 500 million transactions that WeChat Pay’s customers make on a daily basis.

InComm’s POSA technology leverages WeChat Pay-issued barcodes to enable users to make payments at the point of sale at more than 50,000 retail locations in Japan. In the press release, Junichi Kito, Director of Business Development at InComm Japan said, “In looking forward to the Tokyo Olympics in 2020, it is critical for Japanese retailers to prepare for global payment methods, which are convenient for travelers, and it is our mission to support that. We believe this will bring a great additional value for retailers and prepaid issuers in the global market.”

InComm, which was recently named by 7-Eleven as Vendor of the Year, launched Vanilla Direct in late 2016. The new brand is the consolidation of Cashtie and Vanilla Reload products and helps consumers use GPR cards to make everyday payments and pay bills online. Atlanta-based InComm debuted CorFire Mobile Commerce at FinovateFall 2011. More recently, the company’s SVP Thomas Cornelius showed off the Cashtie API at FinDEVr Silicon Valley 2014.

FinDEVr in the Springtime: Wrapping Up New York & Kicking Off London


It’s a wrap for FinDEVr New York! If you would like to revisit your favorite presentations (or the audience’s favorites) or weren’t able to attend and want to see what you missed, videos of all presentations are available in our video archives. Sit back, relax, and make sure to grab the popcorn.

Even as FinDEVr New York winds down, FinDEVr London is heating up. Kick off summer by attending this debut international event on June 12 & 13 at London’s historic and unique Tobacco Dock. With many innovative presenting companies already on board, the content is sure to rival what was seen on stage last month.

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Save big on tickets when you register by this Friday, April 7. And use the promo code “FinDEVrBlog” to save an additional 10%. See you in June!

FinDEVr New York 2017 in Photos

If you weren’t at FinDEVr New York last week, you missed out! We had dozens of top-notch companies on stage giving thought-provoking presentations, launching new products, and showing off with captivating live demos. What’s more, the FinDEVr format fostered high impact networking sessions complete with an open bar, yard games, and VR gaming. Here are a few highlights:

32944413403_707f5251c6_kKunal Anand, CTO & Co-Founder of Prevoty, presenting on using runtime visibility to align application security with DevOps

33601058782_a3434e4adb_kFinicity’s Nick Thomas and Jessie Morris engage in a heated ping pong duel

33601018282_0e0b3db6a8_kKen Maier takes home the award for the most engaging Twitter user

You can check out more photos of the event on FinDEVr’s Flickr page.

And, if you’re curious to see analyst opinions of what hit the FinDEVr stage last week, check out our press coverage:

Fintech Radar
Bankba megy a Watson (in Hungarian)

Seneca Globe
Experts Views on Investment Luring Stocks- International Business Machines, Shopify

The Street
IBM Develops a Cure for Banks With a Case of Digital-Market Blues
by Valerie Young

When Banks Develop Snapchat Envy, This Firm Is Ready to Help
by Valerie Young

Thanks to everyone who attended and presented! If you can’t wait another year until the next FinDEVr, you don’t have to! Check out our next event, FinDEVr London, which will take place during London Tech Week on June 12 and 13. Tickets now on sale.

FinDEVr APIntelligence

We saw some great stuff at FinDEVr New York last week; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

Alumni updates

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.
  • BBVA among the latest companies to join Hyperledger.
  • MasterCard introduces new fraud detection solution, Decision Intelligence.
  • Credit Donkey lists StockTwitsDriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Forrester recognizes FinDEVr newcomer Outsystems as a leader in low-code development platforms.
  • E-commerce services from Vantiv achieve Oracle Validate Integration. Video of Vantiv’s FinDEVr 2017 New York presentation will be available soon.
  • VISA to enable electronic business payments for SME clients of B2B electronic invoicing network, Viewpost.
  • Fiserv reports nearly 30 banks and CUs deployed its digital banking technology in 2016, taking the total number of FIs using its online banking solutions to 3,500.

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