Ally’s Post

In this edition of #PoweredbySnowflake’s Startup Spotlight, Ema Rouf, President and Co-Founder of pave.dev, an #AI-driven analytics solution, talks about breaking down barriers to accessible credit and financial lending, how running a startup is like climbing a mountain, and how building on Snowflake gives Pave the data sharing capabilities it needs to show financial institutions a better way to identify more creditworthy borrowers. https://okt.to/0d1crF

Day 01 Hello #linkedincommunity! i hope this post helps you to know something more! 🤖 Wealthfront: Revolutionizing Finance with Robo-Advisors and RegTech in upcoming future! 📈 In the realm of fintech, few companies have made as significant an impact as Wealthfront. This innovative firm has been at the forefront of both Robo-Advisors and RegTech, redefining the way we invest and handle regulatory compliance. Wealthfront's Robo-Advisors - Your Financial GPS 🚀 1.Intelligent Investing: Wealthfront's Robo-Advisors utilize cutting-edge algorithms to craft personalized investment portfolios that align with your financial goals and risk tolerance. It's like having a financial GPS for your future! 2.Low Fees: They've shattered the traditional cost barriers by offering their services with minimal fees, making professional financial advice accessible to all. 3.Continuous Monitoring: These Robo-Advisors work tirelessly, monitoring your investments and automatically rebalancing your portfolio to keep you on track, ensuring you stay focused on your financial goals. Wealthfront's RegTech Solutions - A Compliance Game Changer 📚 1.Streamlined Compliance: Wealthfront employs RegTech solutions that streamline and automate the often complex world of regulatory compliance. This means quicker, more accurate compliance checks and reporting. 2.Enhanced Security: The RegTech tools they employ are designed with top-tier security measures, ensuring your financial data remains safe and compliant. 3.Cost Efficiency: Wealthfront's embrace of RegTech translates into cost savings for the company and, in turn, benefits for their clients. Wealthfront's journey showcases how technology can create a win-win scenario. Investors enjoy personalized, cost-effective, and efficient financial management, while the company maintains compliance seamlessly. Have you experienced Wealthfront's Robo-Advisor services or witnessed the impact of their RegTech solutions in the financial sector? Share your insights and experiences in the comments! 💬 Let's discuss how companies like Wealthfront are shaping the future of finance. #Wealthfront #RoboAdvisors #RegTech #FintechInnovations #linkedinconnections 🌐 Mentor: Chetana Chavan, Ph.D at ATLAS SkillTech University

Great day1 at Fintech meetup. Impressive keynote sessions, one of the best I have been to. Great stories, strong moderation, interspersed with good humor @Anil Aggarwal. Here’s a few notes I wrote down - 1. General sense of optimism especially If you listen to the speakers. Though have to add that the speakers, who primarily are entrepreneurs and/or VCs tend to be the optimistic bunch (and not to talk about optimism being self-serving). 2. However real issues around interest rates, reg. compliance and stressed consumer abound. Fintechs are changing business models (e.g., from issuers to BaaS, from product to platform), reducing burn, and hoping to survive till the weaker competition goes away and the capital comes back. 3. Share shift to fintechs will increase as we come back to normal from gold-rush covid days. Seeing strong traction in the Banks-fintech partnerships in the B2B. Deposits and payments, two hot topics - are areas where Fintechs (and big techs) are well placed to win. 4. While depressed valuation and lack of exits are hurting late stage fintechs, early stages are still doing fine. “Fastest start to the year with early stage startups” per Zachary Perret, CEO Plaid. Btw, he also said the “rate of death of startups has been 2X the normal” in the last 2 years. 5. And my favorite session on Financial Health, a key issue for lenders and regulators alike, led by our Chief Innovation Officer, Kathleen Peters What am I looking forward to today - 1. A topic near and dear to my heart - how AI is transforming Credit Lending - led by Experian’s Robert Boxberger III. An old topic, but still one of the highest impact areas - both from profit pools and financial inclusion perspective. 2. And 1:1 meetings with founders and practitioners; a mentor told me to think of these as speed dating with an expectation of a proposal at the end of it :)

Amid challenging times for retail fintech, we're thrilled to highlight that PitchBook has identified Goalsetter as one of the “promising VC deals in the last couple of quarters.”  Specifically, they note:  “But a few promising VC deals in the last couple of quarters have boosted expectations, according to our latest Emerging Tech Research. Among the standouts are Goalsetter, Ellevest and Cleo—and generative AI as well as the generational wealth transfer could supercharge their growth.” As a leading player in family finance and financial education, Goalsetter is serving banks, credit unions, wealth management firms, and school systems, to help them both attract and educate their next generation of customers.  Our innovative approach to both B2B partnership and transformative financial tools, continues to guide our work and attract like-minded investors whose value systems are aligned with ours - deeply rooted in both value creation and outsized social impact.  But we could not do any of this work without a team of Goalsetters who have been committed from Day 1 to every customer that we serve -  ensuring that we are providing outstanding partnership and transformative financial tools; visiting credit unions and banks across the country to help them launch Goalsetter successfully to their customer base; understanding our clients’ communities and their needs so that we are an extension of their team. Yes, we are proud of our robust business model.  Yes, we deliver family finance and financial education in a way that is changing both kids and parents lives.  Yes, we are creating strong families and resilient communities.    And yes, we have the best team in the business with more heart, grit, and smarts than any team out there.  Thank you, Pitchbook, for recognizing not only our recent accomplishments, but the bright future that we have ahead of us. We're proud to be at the forefront of financial empowerment and excited about the road ahead! 🚀 #Fintech #Goalsetter #FinancialLiteracy #Innovation https://lnkd.in/egKWkmQ2

Another (very) hard learned piece of advice for fintech start-ups; make sure everyone is on the exact same page about what a product “MVP” really means. You may be shocked to learn that what Product/Engineering considers “MVP” is not the same thing that Legal/Compliance considers “MVP”. Product/engineering, especially those not coming from regulated industries, often have very different ideas about what the MVP needs. In most of tech, getting the product just good enough, is exactly where you want to be, because you’ll quickly identity bugs and then fix them in the next sprint. In financial services, that can be a death blow. You double debit consumer accounts, or screw up interest rates, or can’t reconcile accounts while you’re testing and learning, the resources to clean up that mess often far outstrip the cost you would have spent making it near perfect ahead of time. So every Legal/Compliance team should have a discussion with their Product/Engineering colleagues and really ask what MVP means to them. You may be surprised at the answers. But better to be surprised today than surprised in the future, when it hurts a lot more. Trust me on this, I learned the hard way

IVIX closes $12.5 million Series A led by Insight Partners to combat financial crimes 🎉🚀 Today marks a monumental achievement for IVIX, a mission-driven company I co-founded with my incredible partner Matan Fattal. At a time when tech startup funding has plunged, our Series A funding stands as a testament to the value of our platform. Led by Insight Partners and supported by Team8, Citi Ventures, and Cardumen Capital, we've secured the backing to continue combatting financial crimes globally. What makes this journey special is not just the numbers; it's the heart and soul behind IVIX ❤️ ✨ Belief in a Mission: From day one, we've been driven by a desire to leverage technology for greater impact. Our aim to illuminate the shadow economy has been a beacon guiding our innovation and persistence. ✨ First Customers & Growth: Signing our first customers and eventually our 10th was amazing. The feedback from various customers worldwide was not just validation but motivation. We're now in over ten countries, stopping billions in financial crime 💸. ✨ Customer Impact: It's humbling to hear from clients about the new visibility we've provided - insights they never thought possible. It's a feeling I cherish, knowing our work truly makes a difference. ✨ Investor Confidence: A huge thank you to Insight Partners, Team8, Citi Ventures, and Cardumen Capital for believing in IVIX and investing in our vision. Your support fuels our ambition and success. ✨ Looking Ahead: The journey has just begun. We're committed to impacting more and more customers around the world, and the excitement in continuing this path is indescribable. ✨ Family Support: The unwavering love from my dear wife, Audrey Horn, my brother Yuval Passov and sister Yehudit, and the cherished memory of my late parents have been a pillar of strength in this journey. This milestone wouldn't be possible without our incredible IVIX team, our investors, and all who believe in our vision. Here's to continued success, growth, and positive impact For job opportunities, please find the link in the first comment. #IVIX #SeriesAFunding #FinancialCrime #AI #Innovation

In the golden days of tech investing, retail investors - like you and me - had access to “ground floor” opportunities when companies like Ebay, Oracle, Apple, Microsoft, Amazon, Salesforce, and Google went public. These startups, which once held just a spark of potential, are now among the globe’s top tech companies—with some reaching mind-boggling market valuations above the $1 trillion mark.* So where do you and I fit in now? Another ground floor IPO opportunity just opened up in one of the oldest industries that hasn’t had their revolution until now! Financial services is finally becoming tech-savvy by starting from scratch and building the best platform the industry has ever seen. (*not crypto, not forex, or any other boloney- just opportunity) Backed by some of the largest venture capital firms, globalfinancialimpact.com is the fasting growing platform in the industry. To secure your spot, reach out and let’s see where you might fit. *[from Equifund.com*.]

In a world where financial uncertainty looms large, finding trusted financial advice is more important than ever. Enter Wealthtender, a Houston-based #FinTech startup committed to transforming the way we seek out financial guidance. 😎💰 Set up by founder Brian Thorp, Wealthtender aims to streamline your search for financial professionals and educators that you can trust. Money matters won't feel so overwhelming anymore when you have a platform designed to connect you with the right experts! 🤝💼 Want to know more about how Wealthtender is shaking up the digital era of personal finance? Check out our latest feature 👇 https://lnkd.in/eqCC2mhS The future of personal finance is digital, trustworthy, and tailored to each individual's needs. With innovators like Wealthtender leading the forefront, this future is closer than we think! Explore the new era of #PersonalFinance today! 💪🚀 #Finance #FinancialServices #DigitalTransformation #StartUp #Entrepreneurship #WealthManagement

New Post: Envestnet Co-Founder Bill Crager To Step Down As CEO - 
 Envestnet, Inc. today announced that Bill Crager will step down as CEO, effective March 31, according to a news release.
 
 Crager, who co-founded the financial technology firm with Jud Bergman in 1999, will transition to the role of senior advisor beginning in April. He will focus on client and partner relationships , “leaning in on key strategic initiatives, and continuing to be a visionary voice for the financial services industry,” the announcement said.
 
 Crager has been serving as the company’s CEO since Bergmann died in a car accident in October 2019. 
 The release noted that Crager and Bergman “were among the first in the managed solutions industry to streamline independent advisors’ practices by offering a broad range of fee-based products side-by-side within an easily accessible, open-architecture portal,” and under Crager's leadership, it said, the company has grown into a leading managed solutions service provider with $5.4 trillion in client assets and served more than 107,000 advisors. 
 “For more than 24 years, it has been my privilege and honor to work with Envestnet, creating an industry leader. We now serve more assets, more financial advisors, and more accounts than anyone in the marketplace,” Crager said in a statement. “ Together, we have built a more integrated, cohesive organization with a connected operating platform that provides a gateway to the future for the industry," he said. 
 Crager added that this transition will give him "a front-row seat for our next chapter and I look forward to continuing our journey." 
 Last year, Envestnet announced it would launch its own custodian platform and start to compete against Schwab, Fidelity and Pershing in that space. What the change in the CEO slot means for that venture is unclear. 
 James L. Fox, board of directors’ chairman, will serve as interim CEO as of April 1, until a successor is in place, the release said, adding that the board will initiate a search with the help of an independent executive search firm and consider both internal and external candidates. 
 Envestnet has been under pressure from activist investor Impactive Capital and others in recent years as it has acquired numerous fintech businesses, several of which have failed to meet profitability expectations. Recently, it has begun to explore asset divestitures. 
 The company further noted that Tom Sipp, executive vice president, will continue to lead Envestnet's business lines partnering closely with Crager and Fox. #Env

For founders/owners ... 💳 Banking / FinOps Tool 🏦 For those who know me, I'm extremely financially attentive to and run a very tight ship with FinOps - I always say, in another life I must have been a CFO. There's a tool I use at the core of my FinOps that I recommend at least weekly at this point... If any fellow founders or owners are interested in a better banking solution than pretty much anything else I've tried, I'd highly recommend Mercury. Been a customer for a year+ and it's just continually gotten better. Talk about a user-centric product. The design = flawless. Ux = immacualte. Features = robust. Innovation = always. Some of my favorite perks of Mercury are:  - Free Wire Transfers - Easy Account Routing - Unlimited Accounts (set up in seconds) - Integrates with Hundreds of Apps Natively - Percentage Based Auto-Routing (so you can split up all incoming money, by account, into other accounts (EX: Tax, Payroll, OPEX, Profit)) - Auto-Replenish Account (auto-transfer/replenish accounts when dropping in or above a certain range) The ONLY flaw I've encountered so far is check processing takes longer than other banks. If you're running a financial process that critically involves lots of incoming checks, I'd probably not use this as your main solution. The other "flaw" is that they don't offer personal banking... I really wish they did. That would be heaven on earth. --- I have no relationship with Mercury besides being a customer. However, they do have 2-way referral bonuses for customers and new sign ups. I'm including my link, which would give us both $250 if you decided to sign up through the link. If you use the link to sign up, you'll skip the waiting process and get an expedited review. Link: https://lnkd.in/gDPqHzSf