Flybits

Flybits Raises $6.5 Million to Help Banks Put Data to Work

Flybits Raises $6.5 Million to Help Banks Put Data to Work
By Julie Muhn (@julieschicktanz) Posted on
Categories: Flybits, Funding

Consumer data contextualization company Flybits pulled in $6.5 million this week, bringing the Toronto-based company’s total funds to $14 million.

The Series B funding was led by Information Venture Partners. New investor Portag3 Ventures LP also participated along with existing investors Robert Bosch Venture and Trellis Capital. As a part of the agreement, Information Venture Partners’ co-founders Robert Antoniades and David Unsworth will join Flybits’ board of directors.

“This funding will allow us to ramp up our sales efforts in the United States and Europe, reinforce our existing global presence and expand our product and engineering teams to strengthen Flybits’ unique machine learning capabilities,” said Dr. Hossein Rahnama, Founder and CEO of Flybits. “Our product focus now is simplifying how our customers leverage their data ecosystem and drive customer engagement.”

Jordanne Pavao, Product Manager (left) and  Hossein Rahnama, CEO & Founder (right) demo Flybits Experience Studio at FinovateSpring 2017

Founded in 2013, Flybits helps banks convert big data into business intelligence to offer consumers personalized experiences, promotions, and product recommendations. Earlier this year, the company debuted its Flybits Experience Studio at FinovateSpring 2017. The Experience Studio helps banks create and deliver personalized, digital experiences for their clients at scale. This helps banks waste fewer resources on IT complexities such as machine learning, semantic processing, and data contextualization and instead focus on delivering an exceptional user experience.

Rahnama was recently named to Forbes’ Top 40 under 40 for 2017. In 2016, the company earned recognition as a cool vendor in Gartner’s Platform-as-a-Service report and in 2015 received Deloitte’s Technology Fast 50 Canada award as a “Company to Watch.” With offices in Toronto, the San Francisco Bay Area, London, and Singapore, Flybits not only serves the financial services industry, but also travel and hospitality, retail, and events.

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Finovate Alumni News

By David Penn Posted on
Categories: Expensify, Flybits, Jumio, NYMBUS, PayPal, ThreatMetrix, TransferWise, Urban FT

On Finovate.com

  • Expensify Announces Five New Receiptburner Partners.
  • Flybits Raises $6.5 Million to Help Banks Put Data to Work

Around the web

  • Jumio introduces eyeball tracking to the “liveness” check of its biometric authentication solution, Netverify.
  • NYMBUS adds executive talent, opens center of strategic excellence in Glastonbury, Connecticut.
  • Co-founder Kristo Käärmann takes the helm at TransferWise.
  • PayPal announces strategic partnership with Samsung Pay.
  • ThreatMetrix named the Leader in The Forrester Wave: Risk-Based Authentication, Q3 2017.

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: BancPass, Capsilon, Featurespace, Finicity, Flybits, Kashoo, Pendo Systems, TSYS, Vantiv, WorldPay

On Finovate.com

  • TSYS and Featurespace to Provide New Fraud Fighting Solution, Foresight Score.
  • Holy Transatlantic Transactions! Vantiv to Merge with Worldpay in $10 Billion Deal.

Around the web

  • Kashoo celebrates earning the #2 spot in PC Mag’s accounting software ranking.
  • BancPass, makers of the PToll app, hire John Freund as President.
  • Capsilon partners with Optimal Blue to enhance its mortgage PoS solutions.
  • International Business Times quotes Finicity co-founder Nick Thomas.
  • Flybits CEO Hossein Rahnama named to Canada’s Top 40 Under 40 for 2017.
  • Pendo Systems CEO Pamela Pecs Cytron discusses extracting insights from unstructured data at MarketWatch.

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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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Avalara, Craft Silicon, FinDEVr APIntelligence, Flybits, PayPal, ScientiaMobile, Sindeo, Streamdata.io, Trulioo, Xero

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!

On FinDEVr.com

  • Avalara Adds New CMO Jeremy Korst.

The latest from FinDEVr Silicon Valley presenters

  • Finovate Debuts: Sindeo Revamps the Mortgage Application Process.

Alumni updates

  • Flybits CEO Hossein Rahnama interviewed in TechRepublic feature on IoT trends in 2017.
  • ScientiaMobile recognized by CIOReview as one of the most promising CDN solution providers of 2016.
  • AFK Insider lists Craft Silicon’s Uber-challenging app, Little, in its look at major technology developments in Africa in 2016.
  • FinDEVr alum Streamdata.io joins Google Technological Partner program.
  • Inc. lists Xero and PayPal among 8 business apps that will crush it in 2017.
  • LTP: Trulioo CEO Stephen Ufford writes about the problem of gift card fraud.

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

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Finovate Alumni News

By David Penn Posted on
Categories: BBVA, Betterment, Craft Silicon, Flybits, Leveris, NetGuardians, ScientiaMobile, Sindeo, Streamdata.io, unblu, Wealth Wizards, Wealthify

On Finovate.com

  • Finovate Debuts: Sindeo Revamps the Mortgage Application Process.
  • NetGuardians Brings Real-Time Fraud Protection to Nigeria’s Keystone Bank.

Around the web

  • Flybits CEO Hossein Rahnama interviewed in TechRepublic feature on IoT trends in 2017.
  • AFK Insider lists Craft Silicon’s Uber-challenging app, Little, in its look at major technology developments in Africa in 2016.
  • FinDEVr alum Streamdata.io joins Google Technological Partner program.
  • ScientiaMobile recognized by CIOReview as one of the most promising CDN solution providers of 2016.
  • PYMNTS: BBVA Buys Openpay To Boost Digital Business Portfolio.

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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Fintech Favorites

By Jim Bruene Posted on
Categories: FinanceIt, Flybits, Juvo, Mitek, Ripple, Yandex

Featured

Banks

  • TD Bank began rolling out its Flybits (F15) powered digital concierge TD for Me (press release). Check out its FinovateSpring ’16 demo. A first in Canadian banking, TD for Me enhances the popular TD app to include a “digital concierge” feature that curates content and services to create personalized, contextual experiences for customers based on their location and interests. Powered by Canadian start-up Flybits‘ secure cloud-based mobile intelligence product, TD for Me provides customers with useful TD-related content, like special nearby offers, helpful tips and details on local events, with more content and capabilities to be added in future updates.

Deals

  • In more TD Bank news, Financeit (F12) teamed with Concentra to purchase TD Bank’s indirect home-financing dealer-network and 45,000-loan portfolio for C$340 million. It’s a huge win for Financeit which assumes originations for 800 dealers previously working through TD Bank (check out its demo at FinovateFall).
  • Standard Chartered, Siam Commercial Bank and Banco Santander participated in Ripple’s (F13) $55 million Series B round announced today. In addition to those three, five more banks signed long-term contracts to integrate Ripple into their own banking platforms: Westpac, National Australia Bank, Mizuho Financial Group, MBO Financial Group, and Shanghai Huarui Bank

Tech

  • Mitek (F11) released an SDK for mobile check-capture to make it easier for third-party developers to deploy (press release). Check out their latest Finovate demo last May. Our new SDK is a self-contained set of screens, workflows, and APIs that comprise a complete multi-check capture experience allowing developers to quickly deploy their commercial mobile banking app offerings,” said Michael Diamond, general manager, payments solutions, Mitek. “Previously, our partners and banks were on their own to develop the app-level functionality around our core MiSnap multi-check capture engine. With this SDK, we’ve done the heavy lifting for them.
  • Yandex (F13) introduces AI capabilities to browser to warn users when it’s unsafe to bank or pay online
  • Technologists! Don’t miss the upcoming FinDEVr in Santa Clara, October 18-19 (register now)

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: CardFlight, DefenseStorm, FinDEVr APIntelligence, Flybits, Kabbage, Markit, MX, NYMBUS, OutsideIQ, PayPal, Praesidio, Temenos, Token, Trulioo, UpGuard, Xero

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

  • Flybits Earns Gartner Cool Vendor Recognition in its Platform-as-a-Service 2016 Report.
  • UpGuard Brings Better Vulnerability Detection to ServiceNow.

The latest from FinDEVr New York 2016 presenters

  • Infoworld feature on AI shares insights from OutsideIQ CEO Dan Adamson.
  • Markit partners with BitSight Technologies to enhance its Know Your Third Party (KY3P) platform.
  • NYMBUS Acquires R. C. Olmstead to Enhance Core Data Processing.
  • The WSJ calls PayPal “the new face of banking.”

Alumni updates

  • MX to power Homeownership Preservation Foundation’s digital money management app.
  • Cater Allen Private Bank to implement new core banking system from Temenos.
  • Trulioo enhances address validation in Global Gateway.
  • Token Facilitates PSD2 Compliance with New Payment Network.
  • Kabbage Named a CNBC Top Disruptor.
  • Fragmob and CardFlight Announce Integrated Partnership.
  • Xero featured as one of first New & Notable Apps on Google Apps Marketplace.
  • Banking Technology reports that Temenos is nearing a core banking software deal with Iran’s Ayandeh Bank (Future Bank).

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

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Betterment, CrowdFlower, Dashlane, Fiserv, Flybits, IBM, Insuritas, Kabbage, Kony, Malauzai, Malauzai Software, NICE Systems, Ripple, SplitIt, Token, Xero

On Finovate.com

  • “Token Facilitates PSD2 Compliance with New Payment Network”
  • “CrowdFlower Closes on a $10 Million Round Led by Microsoft”
  • “Finovate Debuts: IBM’s Wealth Management Solution Gives Advisers an Edge”
  • “MOX Pay from Malauzai is First to Unveil RDC as Payment Option”

On FinDEVr

  • “Flybits Earns Gartner Cool Vendor Recognition in its Platform-as-a-Service 2016 Report”

Around the web

  • TechCrunch: Dashlane launches a password-management tool for the enterprise.
  • AppsTechNews chats with Kony CTO Bill Bodin on the pace of enterprise app change.
  • “Kabbage Named a CNBC Top Disruptor”
  • Benzinga profiles Betterment CEO Jon Stein.
  • Me/CU to deploy account-processing platform and digital banking suite from Fiserv.
  • Insuritas to power insurance solution for Patelco CU.
  • NICE Actimize teams up with Mphasis to provide anti-fraud, enterprise risk, and compliance solutions.
  • Volate Technologies launches solution for “plug and play” integration with Ripple.
  • ACI Worldwide partners with U.K.-based Raphaels Bank to provide access to the Faster Payments Scheme.

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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FinovateSpring Sneak Peek: Flybits

FinovateSpring Sneak Peek: Flybits
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2016 Sneak Peek, Flybits

FlybitsHomepage

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Flybits will announce the release of new context sources that enable financial enterprises to further personalize mobile experiences for their customers, without coding.

Flybits’ Experience Studio enables developers and marketers to create and change mobile experiences on the fly, using any and all context sources, such as calendar, language, age, gender, and weather.

Why it’s great
Using Flybits is the easiest way for app developers and mobile marketers to go beyond location and enhance their apps to deliver and manage rich, personalized mobile experiences.

FlybitsPresenter1Presenters

Jerry Rudisin, Chief Executive Officer
Rudisin joined Flybits with 30 years of executive experience at enterprise-software companies, including Schooner, Agitar, and NightFire. Jerry earned an MS in Computer Science from UCLA.
LinkedIn

FlybitsPresenter2Hossein Rahnama, Founder & Chief Product Officer
Rahnama is a recognized figure in ubiquitous and pervasive computing. He has a Ph.D. in computer science from Ryerson University, and is a visiting scholar at the Human Dynamics group at MIT Media Lab.
LinkedIn

Check out all of today’s sneak peeks:

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: CardFlight, DigiByte Holdings Limited, FairCom, FinDEVr APIntelligence, Flybits, Honkio, Hyperwallet, Mitek, Nostrum Group, OutsideIQ, PayStand, Personal Capital, Praesidio, Solace Systems, WorldPay, Xero, Xignite

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today.

Developer news

The latest from upcoming FinDEVr New York 2015 presenters

  • PayStand to power new online payments service from ONE UP.
  • Xignite announces its XigniteGlobalCurrencies API is now available in the Oracle Cloud Marketplace.

Alumni updates

  • PYMNTS reports: Worldpay transactions up 14% post-IPO.
  • Mitek launches mobile deposit in the United Kingdom with other countries to follow.
  • CardFlight integrates with Stripe to encourage developers to build EMV payment functionality within their mobile apps.
  • Xero extends partnership with MidPoint to make cross-border procurement easier.
  • Personal Capital exceeds $2 billion AUM.

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

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Finovate Alumni News

By David Penn Posted on
Categories: blooom, Expensify, Flybits, Honkio, Hyperwallet, Innofis, Misys, Narrative Science, OutsideIQ, PayStand, Prosper, Thomson Reuters, Urban FT

On Finovate.com

  • “Expensify Leverages Uber Partnership to Create the Lazy Man’s Expense Report”
  • “Finovate Debuts: Innofis Enhances the UX for Banks and Customers”
  • “Prosper Appoints USAA Exec as New CFO”

On FinDEVr.com

  • “PayStand to Power New Online Payments Service from ONE UP”

Around the web

  • Luxoft integrates P2P payment technology with connected, self-driving car.
  • Thomson Reuters teams up with Hong Kong-based accelerator, SuperCharger.
  • Misys unveils Standardized Approach for Counterparty Credit Risk (SA-CCR) module for FusionRisk.
  • PYMNTS interviews Richard Stegall, CEO and Co-founder of Urban FT.
  • NPR highlights Blooom for helping manage student-loan debt.
  • The New York Times features Narrative Science in a look at artificial intelligence.

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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Thinking Capital & Flybits Make Deloitte’s Technology Fast 50 Canada Awards

Thinking Capital & Flybits Make Deloitte’s Technology Fast 50 Canada Awards
By Julie Muhn (@julieschicktanz) Posted on
Categories: Award winners, Flybits, Thinking Capital

Screen Shot 2015-11-13 at 9.56.43 AM

Deloitte last night announced the winners of its Technology Fast 50 rankings, and two Finovate and FinDEVr alums made the cut.

The Technology Fast 50 awards, which are split across three categories, recognize achievements and evolution in the Canadian tech sector.

THinkingCapitalHomepageFirst up is Thinking Capital which achieved a Fast 50 award*. This award lists the 50 fastest growing Canadian technology companies based on the highest percentage of revenue growth over the past five years.

Thinking Capital’s alternative lending platform has helped more than 10,000 SME’s gain access to capital. The company offers merchant advances and term loans up to $300,000.

 

Screen Shot 2015-11-13 at 11.03.18 AMFlybits was listed among 11 others in the Companies to Watch category, which is based on the same criteria for the Fast 50 award without requiring the company to be in business for 5 years.

Flybits helps financial institutions deliver a more personalized mobile experience by leveraging all aspects of a user’s context.

*Qualifying companies must have: headquarters in Canada, been in business for at least five years, revenues of at least $5 million, their own proprietary technology, research and development activities in Canada.

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