Featurespace

Featurespace Launches GenAI-Powered Financial Crime Fighting Model, TallierLTM

Featurespace Launches GenAI-Powered Financial Crime Fighting Model, TallierLTM
By David Penn Posted on
Categories: Alumni News, Alumni profile, Daily news, Featurespace
  • Featurespace unveiled its generative AI-powered, Large Transaction Model (LTM), TallierLTM, this week.
  • The technology uncovers hidden transactional patterns typically undetected by current methods that may be indicative of criminal activity.
  • Featurespace made its Finovate debut in 2016, appearing at both FinovateEurope and FinovateFall that year.

Fraud and financial crime prevention company Featurespace unveiled its Large Transaction Model (LTM), TallierLTM, this week. A foundational technology for payments in specific and the financial services industry in general, TallierLTM is a large-scale, self-supervised, and pre-trained model built to power the next generation of AI apps to protect consumers from financial crime.

The technology marks the first time financial professionals in the fraud fighting space have been able to leverage a generative Large Transaction Model. Featurespace noted in a statement that TallierLTM has provided improvements of as much as 71% in fraud value detection compared to the industry standard.

“What OpenAI’s LLMs have done for language, TallierLTM will do for payments,” Featurespace founder David Excell said. “There is widespread concern about how deep-fakes and generative AI have been used to deceive consumers and our financial systems. We plan to reverse this trend by utilizing the power of generative AI algorithms to create solutions that protect consumers and make the world a safer place to transact.”

Connecting to FIs via its enbedding API, TallierLTM analyzes billions of transactions, identifying hidden transactional patterns that current methods often cannot detect. The technology’s insights are based on time sequencing, discovering unusual spending patterns over a short period of time, for example, or between a consumer and a merchant. This increased ability to distinguish legitimate activity from potentially criminal behavior will not only enable data scientists to improve their model’s performance faster, Featurespace Chief Innovation Officer Dr. David Sutton said. It will also allow institutions to “realize the value of machine learning investments more quickly.”

“We know that smarter technology helps financial institutions better understand their consumers,” Sutton added. “We have taken this to the next level by pairing cutting-edge generative AI algorithms with huge volumes of data, enabling a machine to efficiently comprehend the relationships between different customer transactions.”

Founded in 2016 and headquartered in Cambridge, U.K., Featurespace made its Finovate debut in 2016, appearing at both FinovateEurope and FinovateFall. An innovator in adaptive behavioral analytics and automated deep behavioral networks for risk management, Featurespace serves more than 80 direct customers and 200,000 institutions. In recent months, the company announced partnerships with digital payment platform Clip and fellow Finovate alum Zeta. In August, Featurespace launched its ARIC Scam Detect solution to help protect financial services companies and their customers from scams – especially Authorized Push Payment (APP) scams – in real-time.

“As scammers become increasingly sophisticated in their tactics, with the use of Generative AI and machine learning, FIs need an adaptive solution that can protect from changing scam types in real time and monitor both inbound and outbound payments,” company Chief Product Officer Pat Hinchin said.

Featurespace has raised nearly $108 million in funding from investors including Chrysalis Investments, MissionOG, and Insight Partners.

Photo by cottonbro studio

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Zeta and Featurespace Partner to Combine Card Processing with Fraud Detection

Zeta and Featurespace Partner to Combine Card Processing with Fraud Detection
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Featurespace, Zeta
  • Zeta and Featurespace are partnering to create a solution that combines credit card processing and fraud detection.
  • The new offering will be made available to U.S. credit card issuers.
  • The solution will be available out-of-the-box and will enable issuers to test and launch features in days, rather than weeks or months.

Modern core banking technology provider Zeta and fraud prevention company Featurespace are joining forces today. Under the partnership, the two are offering U.S. credit card issuers a solution that combines credit card processing and fraud detection.

Zeta was founded in 2015 to offer modern card processing for banks and embeddable banking for fintechs. The company’s Tachyon Credit offers banks modern credit card programs and spending tools to help boost engagement, increase scale, and decrease fraud. Additionally, Zeta enables fintechs to offer their own credit cards with spending controls and multi-factor authentication.

Zeta CEO and Co-founder Bhavin Turakhia described the company’s issuer clients as “demanding,” and said the company is enabling issuers to iterate on their credit card products faster to test and launch features in a matter of days. “With this solution available out-of-the-box to our clients,” said Turakhia, “their credit card holders will be protected against existing and future fraud attempts seamlessly while reducing the number of genuine transactions declined.”

U.K.-based Featurespace will offer its fraud detection engine that combines AI, behavioral networks, and rules-based decisioning to help organizations identify fraud without negatively impacting the customer experience. Featurespace’s flagship solution, the ARIC Risk Hub, secures more than 50 billion transactions per year across 500 million consumers located in 180 countries.

Combined, the two companies will unlock a range of capabilities for credit card issuers, including out-of-the-box availability, pre-built workflows, real-time transaction authorization, custom decision rules based on risk scores, real-time access to all transaction fraud events, and more.

Zeta was voted Best of Show at FinovateWest Digital 2020 and has more than 1700 employees and contractors located across the U.S., U.K., Middle East, and Asia. The company’s 35+ customers have issued more than 15 million cards on its platform. The California-based company has raised $280 million and last year was valued at around $1.5 million.

Featurespace has more than 70 clients, including HSBC, TSYS, Worldpay, RBS NatWest Group, Danske Bank, ClearBank, and more. Founded in 2005 by a university professor and his PhD student, Featurespace has raised $108 million, including its most recent investment of $37 million received in 2020.

“The partnership between Zeta and Featurespace brings together two of the most capable solutions across the industry in each’s segments,” said Carolyn Homberger, President of Americas at Featurespace. “We are very impressed with the way Zeta is rethinking the issuer processing stack from the ground up, utilizing modern and flexible architecture to provide outstanding new capabilities to Issuers. We’re extremely excited to bring our joint solution to market in the U.S.”

Photo by Joshua Woroniecki

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Featurespace Secures Funding to Develop AI-Powered AML Prototype

Featurespace Secures Funding to Develop AI-Powered AML Prototype
By David Penn Posted on
Categories: Alumni News, Daily news, Featurespace
  • U.K.-based fraud and financial crime prevention company Featurespace secured funding to help build an AI-powered prototype to fight money laundering and other financial crimes.
  • The funding comes from both the U.S. and U.K. governments, and is part of an initiative supported by Innovate UK, the U.S. National Science Foundation, and messaging network SWIFT.
  • Featurespace made its Finovate debut at FinovateEurope in 2016.

Fraud and financial crime prevention specialist Featurespace has secured funding from both the U.S. and U.K. governments to build an AI-powered technology to help financial services institutions – including banks and payment service providers (PSPs) – to detect and stop financial crime. The goal specifically is to enhance the ability of financial institutions to combat cross-border money laundering, application fraud, and APP fraud, in particular. The U.K.-based company, headquartered in Cambridge, will build a prototype, leveraging AI, that will be trained on “sensitive private payments data.” Featurespace will apply federated deep learning to the data, using privacy-enhancing techniques such as k-anonymity and local differential privacy. Organizations will not have to reveal, share, or combine their raw data in the process.

“U.K. and U.S. governments want banks to work together to stop fraud and money laundering,” Featurespace Director of Innovation David Sutton said. “This type of privacy-preserving collaboration AI is a hard problem that no one has yet solved. We are confident we can meet this challenge. We’re the only company in this project that has deployed innovative tech to fight worldwide financial crime – and we have the banking customers to prove it.”

The funding comes courtesy of the privacy enhancing technologies (PETs) Challenge Prize, an effort begun in July by Innovate UK and the U.S. National Science Foundation. The initiative also is supported by bank-owned messaging network SWIFT. Featurespace has been given a deadline of January 24 to build the prototype. Upon completion, if the project is successful, it will be showcased at the second Summit for Democracy to be convened in the U.S. in the first half of 2023.

“A successful outcome of this project is to make money laundering across borders and between banks much more difficult,” Sutton said. “If you make it harder to launder money, you make criminal activities less profitable. This will benefit businesses, society, and consumers.”

Founded in 2008, Featurespace made its Finovate debut at FinovateEurope in 2016. More than 70 direct customers and more than 200,000 institutions ranging from HSBC and Worldpay to fellow Finovate alums like TSYS and Marqeta, rely on Featurespace’s technology to protect themselves against fraud and financial crime. An innovator in the field of fraud prevention, Featurespace has developed technologies like Adaptive Behavioral Analytics and Automated Deep Behavioral Networks to profile both authentic and fraudulent behavior to combat financial crime in real-time. Both technologies are components of Featurespace’s ARIC Risk Hub.

Last week, Featurespace announced a partnership with Railsr to help customers of the embedded finance platform better defend themselves from fraud and financial crime. Per the agreement, Railsr’s fraud teams will be able to leverage card and payment fraud prevention and AML solutions via Featurespace’s ARIC Risk Hub.

“As embedded finance increasingly becomes expected by consumers, making sure they are protected from fraud and financial crime must be expected in equal measure,” Featurespace Chief Commercial Officer Matt Mills said. “Railsr (has) recognized this early and added a critical layer of self-learning technology to ensure their customers get only the best experience.”

Photo by Markus Spiske

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Railsr Taps Featurespace for Fraud Prevention

Railsr Taps Featurespace for Fraud Prevention
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Featurespace

Embedded finance platform Railsr is teaming up with fraud prevention company Featurespace this week to bolster fraud prevention efforts for Railsr as a company, as well as for its clients.

Railsr will leverage Featurespace’s ARIC Risk Hub, combined with its own fraud teams, to provide its clients with a compliance tool to stay on top of regulations. The fraud tools will be available to Railsr clients with a single integration, making it easier for them to focus on growth while remaining compliant.

“As the market accelerates towards embedded finance, consumers expect a frictionless payment experience that is built into the transaction process. With Featurespace’s AI and ML capabilities, Railsr can provide an enhanced level of customer experience, making consumers’ lives simpler and safer,” said Railsr Global Head of Product for Fincrime and Operations Stuart Hartley.

The ARIC Risk Hub will enable Railsr customers to view and manage their fraud analytics, as well as offer them a single place to access Featurespace’s fraud and AML (FRAML) solutions.

“The Railsr platform is a natural fit for Featurespace,” said Featurespace Chief Commercial Officer Matt Mills. “As embedded finance increasingly becomes expected by consumers, making sure they are protected from fraud and financial crime must be expected in equal measure. Railsr have recognized this early and added a critical layer of self-learning technology to ensure their customers get only the best experience.”

Railsr anticipates the new fraud tools will be available within the next year.

Today’s news comes amid a string of high-profile partnerships for Featurespace last month, including with BBVA, Diebold Nixdorf, and Global Processing Services. Featurespace has more than 30 major bank clients including four of the five largest banks in the U.K. Among Featurespace’s customers are HSBC, TSYS, Worldpay, RBS NatWest Group, Danske Bank, ClearBank, and more.

Founded in 2005 by a university professor and his PhD student, Featurespace has raised $108 million, including its most recent investment of $37 million received in 2020.

Photo by Tima Miroshnichenko

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Global Processing Services Turns to Featurespace for Enhanced Real-Time Fraud Protection

Global Processing Services Turns to Featurespace for Enhanced Real-Time Fraud Protection
By David Penn Posted on
Categories: Alumni News, Daily news, Featurespace
  • Global Processing Services (GPS) has partnered with Featurespace to launch a new issuer processing fraud mitigation solution.
  • The new offering, GPS Fraud Advantage, will leverage Featurespace’s ARIC Risk Hub to provide real-time fraud threat protection.
  • Featurespace made its Finovate debut at FinovateEurope in 2016. The Cambridge, U.K.-based company was founded in 2008.

Global Processing Services (GPS) announced a partnership with Finovate alum Featurespace to create a new issuer processing fraud mitigation solution. GPS will integrate Featurespace’s ARIC Risk Hub into its suite of fraud and risk management services.

The new solution will manage fraud threats in real-time, boosting fraud detection rates by more than 70%, and reducing false positives by 80%. Named GPS Fraud Advantage and powered by Featurespace, the technology is expected to go live in mid-2023. The new offering will benefit from the expansion of GPS’ Fraud Prevention Team, providing comprehensive monitoring and management of fraud alerts throughout the payments process.

“Our technology and the results our customers achieve are recognized as industry leading by those committed to fighting fraud and financial crime,” Featurespace CEO Martina King said. “Through this partnership, GPS will be able to provide an enhanced level of customer experience and increased security assurances, enabling their clients to focus on continued innovation and growth.”

Featurespace’s technology provides real-time fraud prevention for cards and payments businesses against emerging fraud challenges. The company’s ARIC Risk Hub leverages machine learning and artificial intelligence to learn from and adapt to the cardholders’ historical transactions to provide risk assessments and alerts when potentially fraudulent activity is suspected. The solution helps businesses achieve higher approval rates while simultaneously minimizing false positives.

Founded in 2008 and headquartered in Cambridge, U.K., Featurespace made its Finovate debut at FinovateEurope 2016. Of late, the company announced that it was embedding its fraud prevention technology in the platform of U.K.-based payments services provider Equals. Featurespace also reported recently that it was helping regtech Vital4 with enhanced watchlist screening. Since inception, Featurespace has protected 500 million consumers, processed more than 50 billion events a year, and blocked 75% of fraud attacks in real-time, with a false positive ratio of 5:1.

With investors including Insight Partners, Future Fifty, and TTV Capital, Featurespace has raised more than $107 million in funding.

Photo by NastyaSense

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Featurespace to Grow Behavioral Analytics with Fresh $37.4 Million Round

Featurespace to Grow Behavioral Analytics with Fresh $37.4 Million Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Featurespace, Funding

Behavioral analytics technology provider Featurespace announced today that it closed a $37.4 million (£30 million) round of funding.

The round, which brings Featurespace’s total funding to $108.6 million, was led by Merian Chrysalis Investment Company Limited with additional contributions from existing investors.

“During these challenging times, our machine learning models have automatically adapted to the shift in consumer, business and criminal behavior,” said Featurespace CEO Martina King. “It is our continued focus to deliver industry-leading, fraud and anti-money laundering solutions to our customers and partners.”

Featurespace will use the funding to “support continued growth” of its financial crime detection technology. The company launched its adaptive behavioral analytics platform, the ARIC Risk Hub, in 2008. The ARIC Risk Hub helps organizations fight financial crime by leveraging machine learning and anomaly detection to flag suspicious activity in real time.

The company has more than 30 major bank clients including four of the five largest banks in the U.K. Among Featurespaces customers are HSBC, TSYS, Worldpay, RBS NatWest Group, Danske Bank, ClearBank, and more.

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Helping Secure Digital Identities; Managing Financial Crime Risk

Helping Secure Digital Identities; Managing Financial Crime Risk
By David Penn Posted on
Categories: 3E Software, Bazaarvoice, Blackhawk Network, ClickSWITCH, Currency Cloud, Daily news, Featurespace, Finastra, Fiserv, Flybits, ID R&D, InComm, iProov, Jack Henry, Lending Club, Lighter Capital, M1 Finance, MasterCard, nCino, Pindrop Security, Salt Edge, Sezzle, Temenos, Trustly, Venmo, Yseop

Two of the biggest themes in fintech – digital identity and the rise of fintech in Central and Eastern Europe – meet in the latest announcement from biometric authentication specialist and Finovate Best of Show winner iProov. The company’s facial recognition technology now makes it easier for users of SK ID Solutions’ Smart-ID Service in countries like Estonia, Latvia, and Lithuania to renew their accounts without having to visit a physical bank branch.

“This is a major development for all digital identity providers,” iProov CEO Andrew Bud said. “Estonia has proved, for the first time, that a remote, automated, biometric ID verification service can deliver the highest possible levels of security.”

Recognized as equal to a handwritten signature throughout Europe, Smart-IDs enable users to authenticate themselves and provide permissions online using a smartphone app. iProov’s facial recognition technology adds a three-second scan to compare the image of the user to the image on their presented ID document to help defend against fraud and identity theft.

Smart-ID also leverages NFC-based ReadID document verification technology from InnoValor.

Financial crime risk management innovator Featurespace will be helping Enfuce combat fraud and money laundering courtesy of a newly announced partnership. Enfuce, a financial services firm based in Finland, will use Featurespace’s ARIC Risk Hub to enhance its ability to protect its customers from fraud and financial crime.

“Our clients deserve industry-leading services that allow them to freely and fully concentrate on the success of their core business, without worrying about ever-evolving fraud,” Enfuce co-founder and chair Monika Liikamaa said.

ARIC Risk Hub offers real-time transaction monitoring for fraud and financial crime, enabling institutions to identify and act against anomalous and potentially dangerous behavior as it occurs. The technology also reduces the number of false positives by as much as 70%, keeping anti-fraud processes efficient. Featurespace introduced its fraud-fighting technology to Finovate audiences at FinovateEurope 2016.

Here is a round up of recent news from our Finovate alumni.

  • Sezzle unveils new logo along with its first annual report.
  • Flybits expands its executive team in New York, Toronto, the U.K., and Dubai.
  • ID R&D updates voice biometric solution IDVoice.
  • M1 Finance surpasses $1 billion in assets on its platform.
  • Armor Bank selects Teslar Software’s automated workflow and portfolio management tools.
  • Mastercard partners with myPOS to boost adoption of card payment solutions among European SMEs.
  • Black Hills FCU selects nCino’s Bank Operating System.
  • Bazaarvoice launches partnership program with Yotpo as the piloting partner.
  • Keysafe inks partnership with Salt Edge to access tenants’ bank data without the need to acquire its own PSD2 license.
  • Lending Club appoints Annie Armstrong as Chief Risk Officer.
  • Assaray Trade and Investment Bank selects Temenos Infinity and Transact to power its digital transformation.
  • Long John Silver’s chooses Blackhawk Network for gift card program.
  • Trustly and Fly Norwegian team up to let travelers pay directly from their bank accounts.
  • Pindrop launches Deep Voice 3, the new version of its voice recognition technology.
  • Mastercard CEO Ajay Banga steps down, replaced by Chief Product Officer Michael Miebach.
  • Venmo to launch debit card for teens.
  • Almost 600 banks select Fiserv’s Turnkey Service for Zelle.
  • Finastra to offer ClickSWITCH’s account switching technolkogy to its clients.
  • Simmons Bank partners with Jack Henry to leverage its Banno platform to build a digital presence.
  • Currencycloud and Currensea team up.
  • Yseop and Automation Anywhere join forces to scale intelligent automation.
  • Lighter Capital appoints Kevin Fink at CTO and Patricia Elliott as CSO.
  • InComm launches Roblox gift cards in France and Germany.

Finovate Alum Features and Profiles

Revolut’s $500 Million Round Boosts Valuation to $5.5 Billion – Global financial platform Revolut has secured its place as the U.K.’s most valuable fintech.

Dealing with Deepfakes in Fintech – The fintech industry is ripe with security firms, such as iProov, that use AI to combat both video and audio deepfakes with anti-spoofing technologies.

Envestnet | Yodlee Acquires Indian Data Aggregator FinBit.io – Envestnet | Yodlee has acquired another asset in its strategy to further grow and develop its data aggregation and analytics business.

Meet Sonect: Cash Network Builder, Finovate Newcomer, Best of Show Winner – What’s better than having a large pizza with all your favorite toppings delivered to your front door? How about a side order of cash, saving you a trip to the ATM or bank branch?

Azimo Taps Ripple for Cross-Border Payments to the Philippines – Fueling these payment transfers is Ripple’s On-Demand Liquidity (ODL) solution that uses XRP to source liquidity and complete money transfers within three seconds.

Lendio Lands $55 Million to Match Small Businesses with Lenders – The investment more than doubles the company’s previous funding, bringing its total to $108.5 million.

SheerID Expands Identity Marketing Platform – The move enables brands to identify and acquire new customers across the globe.

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Finovate Alumni News

By David Penn Posted on
Categories: CollegeBacker, EVERFI, Featurespace, Kantox, NCR Corporation, NYMBUS

On Finovate.com

  • Expensify Combines Spending Controls and Expense Tracking with New Corporate Card.
  • New Partnership Brings NCR’s D3 Digital Banking to NYMBUS.

Around the web

  • NYMBUS licenses NCR’s D3 Digital Banking platform as part of strategic partnership.
  • Kantox partners with Citi’s Commercial Banks to provide the bank’s customers in the U.S. with enhanced FX payments connectivity.
  • Featurespace collaborates with Latin American credit bureau Círculo de Crédito to help fight application fraud in Mexico.
  • Black Star News interviews CollegeBacker’s James Ryan on the “national emergency” of student debt.
  • Financial education technology innovator EVERFI acquires U.K.-based EdComs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: Featurespace, FIS, Kyckr, NYMBUS, Segmint, Strands, Tradeshift

On Finovate.com

  • RoamHR Helps Bring Financial Wellness, Tax Preparation to Gig Economy Workers

Around the web

  • Featurespace announces strategic partnership with NatWest to deliver real-time, enterprise-wide fraud prevention, transaction monitoring.
  • Indiana-based Centier Bank ($4.5 billion in assets) leverages SmartLaunch from NYMBUS to support the launch of its mobile app, Billinero. See NYMBUS at FinovateFall in New York this week!
  • Societe Generale teams up with FIS to offer payments-as-a-service to corporate clients in Europe.
  • Piraeus Bank, the largest bank in Greece, unveils its new PFM tool powered by technology from Strands.
  • Segmint announces digital engagement expert Adam Craig as its new president.
  • Tradeshift forges partnership with privacy-enhancing technology provider QEDIT.
  • Kyckr inks reseller and integration agreement with Australian information services provider illion.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Featurespace Partners with Elavon to Fight Payment Fraud

Featurespace Partners with Elavon to Fight Payment Fraud
By David Penn Posted on
Categories: Featurespace

A new partnership between fraud prevention specialist Featurespace and payments provider Elavon will improve the company’s ability to combat fraud in real-time and make the payment experience simpler and safer for consumers. Elavon will deploy Featurespace’s ARIC platform, which leverages behavioral analytics and machine learning to provide a higher degree of fraud protection and risk management.

“Elavon is delighted to work with Featurespace to bring top fraud prevention solutions to market to protect merchants and consumers,” Elavon Merchant Services General Manager and EVP Hannah Fitzsimons said. “We are committed to developing the most innovative fraud and security solutions in the payments industry.”

The combination of Featurespace’s ARIC solution and Elavon’s 3Ds service, which detects fraud incidents to help limit the need for further security checks, will give merchants an “advanced, layered approach” when it comes to fighting fraud. Elavon is bolstering its anti-fraud technology in line with the second Payments Services Directive (PSD2), which mandates strong customer authentication (SCA) and directs processors, merchants, and FIs to do more to combat card-not-present fraud by improving security involving online payments.

Featurespace CEO Martina King said that the partnership would help Elavon “stay one step ahead of criminals at all times” and enable the company to better serve the 1.3 million customers around the world who rely on Elavon “to safeguard their businesses.”

Based in Atlanta, Georgia, Elavon is a global payments provider, processing more than three billion transactions a year. This summer, the company was recognized in The Strawhecker Group’s annual Real Transaction Metrics Awards for its Fusebox solution, which was named “Best Performing Gateway” as well as picking up a first place in the “Fastest Transactions” category and earning a runners-up mention for “Highest Authorization Rate.” Backed by U.S. Bank, and active in 10 countries, Elavon was founded in 1991, and was acquired by Brazil’s Stone Pagamentos in the spring of 2016. Jamie Walker is CEO.

Featurespace demonstrated its ARIC Fraud Manager at FinovateFall 2016. The technology leverages machine learning to identify anomalous behavior in real-time, enabling institutions to stop new fraud attacks as they take place. The solution also measures its own accuracy against the rate of change to ensure that legitimate customer activity is not hindered and the number of false positives is kept at a minimum. The technology, developed out of the University of Cambridge, has been deployed in more than 180 countries.

Founded in 2008 and headquartered in Cambridge, U.K., Featurespace was named to the European Business Awards’ Ones to Watch list last month. Also in August, Featurespace announced a partnership with fellow Finovate alum, Emailage, to help the email risk assessment company better fight online application fraud.

Other partnerships from Featurespace announced recently include a pact with processing solution provider Contis in July, and an agreement to provide transaction monitoring for Irish financial services company, Permanent TSB, in June.

Recognized as “Best in Class” by Aite Group in its report on fraud and advanced machine learning platform vendors this spring, Featurespace began the year with news that it was going live in Singapore. “Our financial services customer base is growing fast,” Featurespace’s King said when the launch was announced in February. “We are now working with 17 banks across continental Europe, the U.K., the U.S., and Latin America.”

With more than $72 million in funding, Featurespace includes MissionOG, Insight Partners, Highland Europe, TTV Capital, and Imperial Innovations among its investors.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Adlumin, ALTR, Bill.com, BlueVine, Faraday, Featurespace, FICO, Finastra, Finicity, Glia, Jack Henry, Linked2Pay, NLV8 Technologies, Plaid, ProfitStars, Revolut, SecureKey, TSYS

On Finovate.com

  • Featurespace Partners with Elavon to Fight Payment Fraud
  • Fueling the Fire: How Venture Capital Empowers Fintech Today
  • Plaid Adds Credit Card Details to Liabilities Offering

Around the web

  • Enrichment Federal Credit Union selects Jack Henry’s ProfitStars Commercial Lending Center Suite create efficiencies in commercial lending.
  • PYMNTS: BlueVine hires PayPal exec as CCO.
  • Wisconsin’s First National Bank and Trust Company to deploy core and digital banking technology from Finastra.
  • Revolut announces new CEOs for its businesses in Lithuania and Ireland.
  • Global Payments completes its merger with TSYS.
  • FICO and risk investigation solutions provider Arachnys partner to help FIs improve their client onboarding and record management processes.
  • Bill.com celebrates grand opening of new Houston office.
  • Finicity ships new Verification of Income and Employment (VOIE) solution using TXVerify technology.
  • SecureKey collaborates with Digital Bazaar to streamline organizational identity proofing.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Featurespace, Mambu, Meniga, Numbrs, Onfido, Personetics, ProfitStars, Prosper, Revolut, Xceptor, Xendpay

On Finovate.com

  • Insurwave onboards Xceptor to digitize insurance documents.
  • Finovate Global: A Look at Fintech Talent in Singapore; Mobile Money Goes Live in South Sudan.
  • New Investment Makes Numbrs Europe’s Latest Fintech Unicorn.
  • Xendpay Joins RippleNet to Bring Fee Free Cross Border Payment Options to SE Asia.

Around the web

  • ABC TECH Group and Mambu partner to support banks’ digital transformation.
  • Meniga appoints Arpit Kaushik as new Chief Operating Officer.
  • Pagaya Investments partners with Prosper for to issue unsecured consumer loans from its securitization platform.
  • European Business Awards names Featurespace on its Ones to Watch list.
  • Revolut adds three banking veterans to its senior executive team.
  • Personetics Opens R&D Center in Nazareth.
  • ProfitStars marks 500 banks and financial services companies leveraging its commercial lending technology.
  • Onfido tests portable identity with U.K. fintechs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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