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 APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

Developer news:

  • The Financial Brand considers What is Open Banking and Why Does it Matter?

On FinDEVr.com:

  • PIMCO Selects Markit and KYC.com to Bolster Onboarding.
  • Symbiont to Help Delaware Embrace the Blockchain.

The latest from FinDEVr New York 2016 presenters:

  • PYMNTS breaks down its discussion with PayPal CEO Dan Schulman.
  • OutsideIQ Launches Real-Time Risk Monitoring Tool.
  • i-exceed Technology celebrates its 5th anniversary.
  • Technology from Fidor Bank to drive new mobile banking service from Telefonica Germany.

Alumni updates:

  • Dallas Area Rapid Transit Partners With PayNearMe to Reduce Cash Handling by Transit Operators.
  • Entrepreneur profiles TD Ameritrade in a look at finalists for the Benzinga Fintech Awards 2016.
  • Fiona Tee Takes the Helm as Currency Cloud’s New CFO

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

Symbiont to Help Delaware Embrace the Blockchain

symbiont_homepage_May2016

Guess which state is looking to pioneer the adoption of blockchain technology – and enlisting FinDEVr alum Symbiont to help them do it?

The state of Delaware, home of U.S. vice president Joe Biden and, more importantly, legal home of more than 60% of Fortune 500 companies, is looking at ways to make it easier for businesses and the state government to leverage the blockchain for more efficient operations.  The Delaware Block Initiative, was announced in April, and was the part of the keynote presentation at the Consensus 2016 conference in New York earlier this month.

Symbiont_stage_FinDEVrNY16

Pictured: Adam Krellenstein, Symbiont CTO and Co-Founder, during his presentation “Distributed Ledgers and Smart Contracts” at FinDEVr New York 2016.

Speaking at the conference, Delaware governor Jack Markell outlined the various aspects of the program and the central role that the smart contract technology of Symbiont will play. “Smart contracts offer a powerful and innovative way to streamline cumbersome back-office procedures, lower transactional costs for consumers and businesses, and manage and reduce risk,” Governor Markell explained.

As part of the Delaware Blockchain Initiative, Governor Markell highlighted a number of key steps including a legal and regulatory review to clarify the licensing of blockchain companies and to develop “the appropriate legal infrastructure” for distributed ledger shares. As part of the initiative, state government will also begin adopting blockchain technology, starting with the Delaware Public Archives which will “archive, catalog, and cryptographically secure” government archives using blockchain technology. Symbiont CEO Mark Smith called this an “important use case” for smart contract technology, adding that “in a few years’ time, we’ll look back and see this as an historic moment in the adoption of distributed ledger technology.”

Also participating in the initiative is New York law firm Pillsbury Winthrop Shaw Pittman.

A specialist in leveraging blockchain technology to build financial instruments, Symbiont’s smart contract platform and Smart Securities were first deployed in facilitating issuance, trading, and processing of corporate bonds, syndicated loans, and other “less liquid” financial assets. Symbiont was the first company to put smart contracts into production when it issued its own shares on the Bitcoin blockchain in August 2015.  The company announced a partnership with digital security specialist Gemalto at the beginning of the year. And the company and its partnership with Ipreo was featured in The Economist as part of a discussion on the blockchain this spring.

Symbiont made its FinDEVr debut at our spring developer’s conference in New York. For more information about our upcoming developer’s conference in Silicon Valley, October 18 & 19th, visit our FinDEVr Silicon Valley 2016 page.

FinDEVr APIntelligence

FinDEVrNY16-V2(wdate)Our FinDEVr New York developer showcase is next week on March 29 & 30. Register today and we’ll see you in New York!

Developer news:

  • TechCrunch reports: Almost everyone is doing the API economy wrong.

On FinDEVr.com:

  • Financial Information Services Provider Markit Merges with IHS.
  • Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process.

The latest from upcoming FinDEVr New York 2015 presenters:

  • Xignite to provide free market data for FinTech Sandbox demo participants. Join Xignite in New York for FinDEVr next week.
  • Markit to supply FinTech Sandbox with fixed income pricing and reference data.
  • PayPal to enable money transfers to Cuba via its Xoom acquisition.
  • 3dcart merchants gain access to end-to-end payment processing courtesy of Braintree.
  • OnDeck partners with Innovate Finance to debut Transatlantic Policy Working Group.
  • Markit unveils new tax utility service.
  • Intuit Developer Group Drops Financial Data APIs; Partners with Finicity to Ease Transition.

Alumni updates:

  • Let’s Talk Payments lists SnoopWall and Entrust in its round-up of the hottest mobile security companies.
  • Avalara teams up with WooCommerce to help online merchants manage sales taxes.

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

Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process

Symbiont_homepage_FinDEVr_Mar2016

Just a few weeks before its FinDEVr debut, blockchain technology innovator Symbiont announced a unique partnership with financial services firm, Ipreo. Symbiont’s smart contract technology will be integrated with Ipreo’s loan settlement platform to create a new fully automated settlement business.

The new business has yet to be named, but it already has its leader. Joe Salerno, current head of loan trade settlement at Ipreo will take the top spot, with Symbiont co-founder Robby Darmody named COO.

Symbiont_Mark_SmithMark Smith (right) co-founder and CEO of Symbiont said, “There’s a lot of talk about blockchain but little evidence yet of digital transformation on the front lines, so it’s great to lead the way.” Calling Ipreo a “perfect partner,” Smith said the company  “has an established track record and already plays a vital role in the smooth operation of the loan markets.”

Ipreo’s President and COO, Kevin Marcus, added “With LTS, we addressed the legal and process problems that have plagued loan trade settlement. Our joint venture with Symbiont marries this solution with the transformative power of blockchain technology.”

Symbiont has leveraged its expertise with blockchain technology to create Smart Securities, self-executing digital contracts that are stored in a blockchain. Through its partnership with Ipreo, Symbiont will develop ‘SmartLoans,” the first time the technology has been applied to the loan market. SmartLoans digitize and automate the settlement processes, reducing errors, saving money, and increasing transparency. And since the securities exist in a distributed ledger, statuses and updates can be shared securely and instantly. “This business will benefit the entire syndicated loan market,” said Salerno, “from issuers through investors and regulators.”

Founded in 2015, Symbiont is headquartered in New York City. The company began the year with a $7 million capital infusion, and includes Atlantic Merchant Capital and Celeridem Capital Management among its current investors. Symbiont will make its FinDEVr debut at FinDEVr New York 2016, March 29 and 30. For more information about our upcoming developer’s conference, visit our FinDEVr New York page.