FinDEVr APIntelligence

FDNY17-Logo-RevFinDEVr New York will be here in just two short weeks! Check out company features and take a look at the previews from upcoming presentations. And of course, don’t forget to register today to save!

On FinDEVr.com

  • Envestnet | Yodlee Launches Suite of Risk Reporting Tools.
  • PwC Brings Blockchain PoC to London’s Specialty Insurers
  • Shwayhat Steps Up: GreenKey Technologies Announces New CEO
  • Scotiabank and AlphaPoint Wrap Up Blockchain Trial
  • Check out these previews from upcoming FinDEVr New York presentations:

Alumni updates

  • BBVA Compass adds cash-back incentive to stimulate interest in mobile banking app.
  • OutsideIQ teams up with Genpact to bring better risk management, KYC, and AML compliance solutions to banks.
  • Bluefin Payment Systems joins forces with The Pinnacle Corporation, bringing point-to-point encryption (P2PE to the latter’s Palm POS platform.
  • Top 10 global bank deploys mobile capture technology from Kofax.
  • IBM forges strategic partnership with Salesforce, connecting AI platforms IBM Watson and Salesforce Einstein.
  • Arxan Application Protection named Best IoT product at the 2017 Cybersecurity Excellence Awards.
  • Kontomatik nominated at the Dutch FinTech Awards 2017.
  • Mambu goes live in the Americas with new offices in Miami and new regional managing director.
  • PayPal partners with Oro ecommerce platform.
  • UK food retailer, The Co-operative Group chooses ACI Worldwide to run wallet service.
  • Palestine’s The National Bank deploys core banking technology from Temenos.
  • Dallas News founder features Bruce Parker, founder and CEO of ModoPayments.

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

Envestnet | Yodlee Launches Suite of Risk Reporting Tools

Screen Shot 2017-03-06 at 11.02.05 AM

Data aggregation and analytics platform Envestnet | Yodlee launched a Risk Insight Suite today. The collection of reporting tools are aimed to help lenders bolster information gained from traditional credit reports by leveraging consumer financial data.

Using a co-brandable experience, the reports pull information directly from a prospective borrower’s banks to offer lenders an up-to-date picture of the borrower’s assets, income, and expenses. This detailed level of account information helps lenders with underwriting, origination, pre-qualification, and account review. The system leverages machine learning, along with a risk-based engine to simplify the review process and highlight any issues that may indicate a riskier borrower.

In the press release, Terry McKeown, Practice Manager, Credit Analytics at Envestnet | Yodlee said, “By using consumer permissioned financial data, lenders can obtain a complete financial picture of a borrower. This is especially true for credit invisible consumers who have no credit file or cannot be scored with traditional models, and for subprime consumers whose transactional data can help lenders make more accurate assessments of risk.”

Along with providing more valuable metrics for the lender, the Risk Insight Suite creates a smoother user experience for the end client. Because Envestnet | Yodlee pulls all necessary information directly from the user’s bank, there is no need for the client to supply paper bank statements and tax returns.

This is similar to the company’s Mortgage Asset Verification product launched in December of last year. In comparison, that offering is exclusive to mortgage borrowers, while the Risk Insight Suite of reporting tools caters to a larger audience. Envestnet | Yodlee most recently demoed at FinovateFall 2016 and at FinDEVr Silicon Valley 2016 where Deviprasad Kocherry, director of platform and product management, and Deven Maru, senior product manager of mobile platform, presented on fast integration using the company’s APIs. Since acquiring Yodlee in August 2015 for $660 million, Envestnet | Yodlee has built out its Advisor Now solution and landed a partnership with Morgan Stanley’s wealth management arm.

FinDEVr APIntelligence

FDNY17-Logo-Rev

FinDEVr New York is just over one month away. Visit our registration page today and save your spot as our developer’s conference returns to New York City, March 21 & 22, for two days of APIs, SDKs, case studies, coding examples, and more.

On FinDEVr.com

  • Braintree Hires John MacIlwaine as New CTO.

The latest from FinDEVr New York presenters. Catch them at FinDEVr New York next month!

  • ChartIQ to provide Fidessa with HTML5 charting options.

  • Clutch recognizes Softjourn as one of the top web and software developers in the Ukraine.

  • Fiserv wins inaugural Technology Association of Georgia (TAG) Fintech ADVANCE Award for its Verifast palm authentication technology.

  • Vantiv to provide debit, credit, and ATM processing services for Financial Technology Solutions International.

  • Massachusetts-based bank, Salem Five ($4.2 billion in assets) picks Fiserv as its new technology partner.

  • Vantiv partners with CardFlight to Offer EMV Mobile POS Solution.

Alumni updates

  • Intuit deploys VersaPay ARC for its SME customers and accountant clients.

  • Wave to offer OnDeck business loans and lines of credit courtesy of new partnership.

  • IBM leverages Hyperledger Fabric to support a trade finance-oriented blockchain project in Dubai.

  • Entersekt CIO Gerhard Oosthuizen shares advice on passwords and protecting personal data in Moneyweb.

  • ACI Worldwide teams up with Chargebacks911 to help merchants handle fraudulent chargebacks.

  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

  • Envestnet | Yodlee partners with mobile-only banking startup, Varo Money.

  • Xero partners with Sasfin Bank to offer next generation financial management to small businesses.

  • Betterment unveils new multi-plan offering with access to human advisors.

  • Fidor partners with EPAM Systems to gain access to additional product development and software engineering talent.

  • Avoka names former KPMG executive Matt Lewis as new CFO.

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

FinDEVr APIntelligence

FDNY17_EventLogo_v1(wdate)FinDEVr Silicon Valley was a success! Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

Dev news

  • Check out LTP’s list of 88 international startup accelerators, incubators & innovation labs nurturing fintech innovators

The latest from FinDEVr Silicon Valley presenters

  • Expensify exclusively endorsed by the world’s leading accounting body.
  • Envestnet | Yodlee integrates with Microsoft Dynamics 365 for Financials.
  • ACI Worldwide named “frontrunner service provider” for EBA instant credit transfer scheme.
  • Xero interviews David Barrett, CEO and founder of Expensify.
  • Hyperwallet begins 24/7 support amidst launch of new Austin contact center.

Alumni updates

  • FinDEVr alum Braintree introduces commerce infrastructure tools.
  • InComm partners with Wakefern Food Corp. to expand gift card programs.
  • OnDeck announces new $200 million revolving credit facility with Credit Suisse.
  • Finicity Scores $42 Million Series B in Round Led by Experian.
  • The Beast Apps introduces comprehensive MiFID II compliance-integration solution, Minotaur.

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

FinDEVr APIntelligence

FinDEVr Silicon ValleyFDNY17_EventLogo_v1(wdate) was a success! Tickets for FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

On FinDEVr.com:

The latest from FinDEVr Silicon Valley presenters

  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Hyperwallet announces support for real-time, push-to-card payments solution,Visa Direct.
  • Full Envestnet | Yodlee Integration Give Advisors Big Picture View of Client Finances.
  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Expensify launches direct integration with Zenefits.

Alumni updates

  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • Bluefin Payment Systems launches cloud-based hosting option for its DecryptxPCI-validated P2PE product through Amazon Web Services.
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal.
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • On Deck Capital and Kabbage agree to disclose SMB loan pricing

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

FinDEVr APIntelligence

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

On FinDEVr.com

  • Markit Agrees to Acquire Prism Valuation.
  • Goldman Sachs Leads $44 Million Investment in Plaid.
  • Mambu Unveils FinTech Startup Program.

The latest from FinDEVr New York 2016 presenters

  • Personal Capital Brings on Former Yodlee CFO.
  • FICO acquires cybersecurity firm QuadMetrics, announces plans for “enterprise security scores.”

Alumni updates

  • Let’s Talk Payments asks if fintech startups should be able to access bank data in the wake of Plaid’s $44 million Series B.
  • MX Adds Cash Flow Feature to MoneyDesktop Platform.
  • Trulioo expands to South America as part of Canada’s Fintech Mission to Brazil.
  • Thomson Reuters named 2016 European Tax Technology Firm of the Year by International Tax Review.

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

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)

Our FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com:

  • OakNorth, “The First Cloud-Based Bank in the U.K.” is Powered by Mambu.
  • Mobeam Barcode Beaming Technology Gains Broader Integration with Samsung Pay.
  • Up from Down Under: VIX Verify Chooses Atlanta’s Transaction Alley for Americas Headquarters.
  • Speed of Lightning, Roar of Thunder: Blockchain Unveils Off-Chain Bitcoin Payments Network.

The latest from FinDEVr New York 2016 presenters:

  • Version 6.0 of PayPal app discontinues support for Amazon Fire, Windows, and Blackberry phones.

Alumni updates:

  • Twilio Readies for $100 Million IPO.
  • Let’s Talk Payments takes a look at the post-acquisition relationship between Envestnet and Yodlee.
  • Neyber selects Cloud Lending Solutions for loan automation.

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

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.

On FinDEVr.com:

  • Envestnet | Yodlee Unveils its Risk Insight API.
  • Google’s Guide: New Book Explains How Google Manages its Cloud Infrastructure.

The latest from FinDEVr New York 2015 presenters:

  • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
  • Vix Verify opens new offices in Atlanta, Georgia’s Transaction Alley as part of American expansion.
  • Chase launches OnDeck-powered SMB Loan platform.
  • Praesidio ranks Top 10 Most Promising Cloud Banking Solution Providers of 2015.
  • API report covers Streamdata.io.
  • CryptoCoinNews takes a look at the recent funding for blockchain development platform, Stratumn.

Alumni updates:

  • CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market.
  • PayNearMe facilitates users to pay for their taxes in cash.
  • BehavioSec, Nationwide, Unisys Team Up on Biometrics.
  • Crowdfund Insider interviews Cloud Lending CEO  Snehal Fulzele.

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

Envestnet | Yodlee Unveils its Risk Insight API

EnvestnetYodlee_RiskInsight

Knowing more about who you’re lending to makes it a lot easier to provide the most appropriate loan. That’s the thinking behind the new Risk Insight API from Envestnet | Yodlee.

The Risk Insight API helps lenders bring more data to bear when it comes to making the lending decision quickly and more efficiently. The API automatically captures, aggregates, and digitizes user-permissioned data from more than 14,500 sources worldwide and turns it into a Risk Insight Report. More than 80% of the data is from direct feeds from major FIs and includes income, cash flow, and credit card data, as well as outstanding loans and investments and bill payment history. For lenders, this additional information helps produce more profitable and less risky credit decisions.

Yodlee_FinDEVrSF2015_stage

Pictured: Deven Maru, Director, Senior Product Manager, Mobile Platform, Yodlee Interactive introducing Yodlee Rapid Development Kit at FinDEVr San Francisco 2015.

Quoted in FierceFinanceIT, Terry McKeown, practice manager, credit analytics at Envestnet | Yodlee explained, “This is information that is able to provide a more holistic view of that customer’s or small business’s financial health because lenders are able to gather more data sources that are not typical in your standard bureau score.”

The technology is currently being deployed with “several early adopters” who are expected to go live soon. The solution consists of the Risk Insight API, as well as Application Capture Flow and a Report/Disclosures features.

Yodlee was acquired by Envestnet last fall. The company presented its financial data platform and rapid development kit at FinDEVr 2015 in San Francisco, and released its new, “simpler, more intuitive” RESTful API architecture in February Acquirer Envestnet made its Finovate debut at FinovateEurpoe 2016 in London, demoing its Advisor Now, digital advice portal. The company announced a new strategic partnership with Vanguard last month, shortly after picking up a pair of honors at the 2016 Family Wealth Report award.

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:

On FinDEVr.com:

  • Blockchain Dev Platform Stratumn Lands $670,000 in Seed Investment.
  • Bluefin Payment Systems Raises $6 Million in Growth Equity Financing.

The latest from FinDEVr New York 2015 presenters:

  • OutsideIQ Chosen To Participate In Brazilian Innovation Summit.
  • Investment News looks at how Betterment has added data aggregation, and considers Vanguard’s partnership with Envestnet|Yodlee.
  • PayPal’s Braintree Auth launches to bring its payments platform to more merchants, service providers.
  • Avoka and eSignLive partner to enable 100% digital customer acquisition.
  • Markit unveils new Common Reporting Standard (CRS) solution for tax residency identification and due diligence.

Alumni updates:

  • New strategic partnership connects Klarna’s checkout solution with Modo’s digital payments hub.
  • Santander and Kabbage Partner to Bring Same-Day Funding to U.K. SMEs.
  • Barlow Names Xero TaxTouch Most Innovative At 2016 Banking Technology Awards.

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