Monday, September 16, 2019

Fintech news 16 September 2019

Wall Street banks are upping bets on their potential fintech competitors

Fintech Firms Maturing, Using Data to Expand Service Offerings

SoftBank Is Said to Boost Stake in Brazilian Fintech Banco Inter

PSD2 Deadline is Here- But is the Market Ready?

Monday, September 9, 2019

Fincluziv selected for the BECU Fintech Incubator in Seattle

BECU FinTech Incubator Competition Selects

Two New Winners

Written by CoMotion Staff / May 30, 2019

This July, CoMotion welcomes two new startups to the BECU FinTech Incubator: Attunely and Fincluziv. The two startups were chosen by BECU following a competition and series of pitches based on their compatibility with BECU’s business goals and digital product focus areas.

“BECU is excited to have Attunely and Fincluziv join the BECU FinTech Incubator at CoMotion Labs,” said Lee Harris, Director, Affinity Partnerships at BECU. “Attunely machine learning Accounts Receivable solution is one that could create a better customer experience, which fits with BECU’s member first approach. Fincluziv, solution for salary advances, fits BECU’s focus on financial health and lowering financial stresses.”

These new members complete the first cohort for the BECU FinTech Incubator, joining Routable (formerly Warren) and Noonum.

BECU, Washington’s largest community credit union, partnered with CoMotion last fall to launch the fintech incubator. Startups invited to join receive sponsored CoMotion memberships that include access to training and mentorship as well as access to BECU and their networks.

With the goal of driving innovation in the financial services space, the collaboration is a powerful combination of BECU’s expertise in financial services, data analysis, and customer experience, and CoMotion’s strengths in incubation, innovation, company formation, and technology commercialization.

More about the startups…

Attunely uses machine learning to increase yield in the accounts receivable collection process, thereby improving outcomes for creditors, lowering risk in the credit ecosystem, and facilitating a better consumer experience. The Attunely machine learning (ML) optimization engine improves the collections process on over $1 trillion of consumer debt in the Accounts Receivable Management (ARM) industry with over 7,000 collection agencies.The leadership team represents a blended team of seasoned entrepreneurs in technology, and long standing veterans of the ARM industry. Since launching their solution on February 5th, 2019, Attunely’s ML platform is dynamically scoring and optimizing 40M consumer debtor accounts for the largest U.S.-based collection agencies and creditor servicers. “On behalf of the Attunely team, we are thrilled to be joining such a distinguished group of fintech innovators. We very much look forward to contributing and benefiting from this unique opportunity to collaborate with such thought leaders as BECU and CoMotion,” said, Scott Ferris, Founder & CEO.

Fincluziv offers banks a white-label SaaS that simplifies, automates and digitizes the entire process of salary and invoice advances to employees and suppliers of their corporate clients, allowing employees and suppliers to access advances in one click. They provide banks a B2B2C solution that benefits banks and corporate clients as well as employees and suppliers. Fincluziv is self-funded by two full-time co-founders, Bruno Gremez and Samir Kasmi. Together they have 30 years of combined experience in the banking industry including Société Générale, BNP Paribas and ABN AMRO.

“Fincluziv enables banks to help individuals and small businesses smooth their cash flow and avoid more expensive financing alternatives such as payday loans,” said Samir Kasmi. “We are looking forward to collaborating with BECU and CoMotion in order to contribute to BECU members’ financial well-being,” added Bruno Gremez.

Fincluziv graduated from the Startupbootcamp Fintech Dubai Accelerator’s First Cohort

DUBAI EVENTS

Meet the 10 Graduates of Startupbootcamp Fintech Dubai Accelerator’s First Cohort

by Company Announcement 2. May 2019

Startupbootcamp FinTech Dubai Accelerator hosted their Demo Day in Dubai on Tuesday, April 30th, with the participation of over 250 people among UAE’s industry leaders and international fintech experts in attendance.

The accelerator is supported by Dubai International Financial Centre (DIFC), Visa, HSBC and Mashreq, which have formed an alliance which looks to accelerate more than 30 fintech startups by 2020 in a bid to develop and strengthen the entrepreneurial ecosystem in MENA.

The 12-week acceleration programme, designed and coordinated by Startupbootcamp, culminated in the graduation of the first ten fintech startups on demo day, in which they showcased their progress. Startups consist of local and international entrepreneurs, hailing from 10 countries: UAE’s, Singapore, United Kingdom, Greece, France, Thailand, Ghana, Morocco, Ukraine, and the Czech Republic.

The startups’ areas of focus span across crowd lending, remittance, customer relationship management, financial education and inclusion, risk analytics, business valuation and payment processing technologies.

Pamela Attebery, Head of Innovation MENAT Technology at HSBC Bank Middle East said:

“We look forward to helping fintech startups shape their products at scale and expand their markets, while providing more established entrepreneurs with strategic guidance on market opportunities and trends.”

“Our aim is to explore options for collaboration to build innovative solutions which shape a better future for our customers and colleagues.”

Subroto Som, Head of Retail Banking Group at Mashreq, said,

“We recognize the value in innovation that empowers people and how it can be driver of success. The fresh thinking shown by these graduates has seen them tackle some of the biggest challenges faced by the financial services sector and it is enlightening to see how they have approached these issues.”

“Middle East’s fintech market is developing and emerging fast, significant difference will be visible in the next 2 to 3 years.”

The 10 startups in Startupbootcamp Fintech Dubai, 2019 Cohort

HubPay: A digital wallet for the remittance community aiming to offer faster and cheaper remittance while offering access to financial inclusion.

Fincluziv – A white-label SaaS that simplifies, automates and digitizes the entire process of salary and invoice advances to employees and suppliers of their corporate clients.

Nocofio – A crowd-lending marketplace that helps connect investors with farmers in need.

SynergyOne – The company offers an online lending and client scoring product that fuses predictive analytics, data science, artificial intelligence and machine learning.

Salutat – A company that helps financial institutions and microlenders automate and to improve digital customer experience via WhatsApp, and other similar channels in emerging markets.

Statys – Delivers risk analytics as-a-service, powered by artificial intelligence.Statys in parts looks to leverage alternative data to cater to previously underserved segments by allowing access to safe risk-managed finance.

UPUP – A free app that offers finance education for kids, and new clients for banks.

Billss – An AI-powered chatbot for retail banks to leverage their customer data and offer them a smoother experience.

Instaval – The company operates a valuation as a service tech service made to promote equity investments into startups and SMEs.
no-q

NoQ – A seamless mobile checkout solution for retailers to eliminate customer queuing, enable direct marketing, provide in-store data and inventory management optimisation.

Meet the Startupbootcamp FinTech Dubai Accelerator’s first 10 companies

Mon, 4/15/2019, 12:43 PM

Image Credits: Creighton O’Brien

Author: MAGNiTT

Press Release

Startupbootcamp launched its inaugural FinTech cohort in Dubai earlier this year in February. After 4 months of recruiting, meeting with, and reviewing hundreds of startup applicants from around the world, the final top 10 startups were selected to participate in a 3 month intensive acceleration program.

The first cohort of 10 innovative startups consists of both local and international entrepreneurs, hailing from 11 different countries: Dubai, Singapore, United Kingdom, Greece, France, Thailand, Ghana, Morocco, Ukraine, and Czech Republic.

The startups’ areas of focus span across Crowd Lending, Remittance, Customer Relationship Management, Financial Education and Inclusion, Risk analytics, Business Valuation, and Payment Processing technologies.

Through working with world-class experts, local and global mentors, and corporate partners, the startups are addressing big problems in emerging markets both in the MENA region and globally.

Startupbootcamp has teamed up with the Dubai International Financial Centre (DIFC), Visa, Mashreq, and HSBC, who have proudly formed an alliance to support Startupbootcamp and its future cohorts. Together they are working towards developing and strengthening a strong entrepreneurial ecosystem in Dubai and the greater MENA region.

Startupbootcamp is excited to announce their Demo Day on the evening of April 30th where all 10 of their startups will present their businesses, the traction they have made during the program. Click HERE to RSVP

Here’s a full list of the inaugural batch companies

(Click on the name of the startup to visit their website)

HubPay

The digital wallet for the remittance community; faster, cheaper and providing access for financial inclusion.

Founders: Kevin Kilty

Sector: FinTech, Remittance; B2C

Fincluziv

White-label SaaS that simplifies, automates and digitizes the entire process of salary and invoice advances to employees and suppliers of their corporate clients.

Founders: Bruno Gremez, Samir Kasmi

Sector: FinTech; B2B

Nocofio

Crowd-lending platform that connects finance to farmers.

Founders: Akwasi Tagoe, Lovell Larbie

Sector: FinTech, AgriTech

SynergyOne

Online lending and client scoring products.

Founders: Oleg Shram, Fred Pollack, Olga Velikaya, Alexey Tsibilyuk

Sector: FinTech, Alternative Lending; B2C

Salutat

Salutat partners with emerging markets financial institutions to automate and improve digital customer experience via WhatsApp and other channels.

Founders: Mike Driver, Sam Upra

Sector: FinTech, Client Management; B2B

Statys

Delivers risk analytics as-a-service, powered by artificial intelligence.

Founders: Pierre Proner, Flinn Dolman, Jaime van Oers

Sector: FinTech; B2B

UPUP

Finance education for kids and new clients for banks.

Founders: Roman Potemkin, Maryna Potemkina, Dmytro Gusev, Yaroslav Golovach

Sector: FinTech, EdTech; B2B

Billss

AI-powered chatbot for retail banks to finally leverage their customer data and offer them a smoother experience.

Founders: Arthur Maisonnier, Jessica Scianimanica

Sector: FinTech, B2B

Instaval

Valuation as a service technology made to promote equity investments in startups and SMEs.

Founders: Akram El Youssi, Yasir Tahir, Yaser Kanouni

Sector: FinTech, B2B

NoQ

A seamless and secure mobile checkout solution for retailers to eliminate customer queuing, enable direct marketing, provide in-store data and inventory management optimization.

Founders: Mohammed Saadat, Nick Vamvoukakis

Sector: FinTech, Retail

Fintech news

Friday, September 27, 2019