Plug and Play Fintech Unveils the Startups Accepted for its Fourth Batch of the Program

Neurensic Industry News, Neurensic, Neurensic News

SUNNYVALE, Calif., Aug. 22, 2016 /PRNewswire/ — Twenty-four startups have been selected for the fourth batch of Plug and Play Fintech. The selected companies will be a part of the twelve-week accelerator program designed for financial technology startups. During this time, startups will gain access to Plug and Play’s extensive network of top banks and financial institutions that have been specifically curated to work with them through this platform. Partners of the program include Deloitte, Bank of the West, BanRegio, BNP Paribas, Capital One Growth Ventures, Credit Suisse, Deutsche Bank, Finstar Labs, Intuit, JCB, MUFG, Santander, Sumitomo Mitsui Banking Corporation, TD Bank, USAA, and U.S. Bank.

“We always look forward to reviewing the newest list of applicants to the next Plug and Play Fintech batch – such impressive talent and innovation leveraging the latest technologies to address common industry challenge and create new products.  This class is no exception.  We have had the opportunity to spend time with several of the startups selected, are keen to learn from and mentor each, and are pleased to welcome one of our new alliance partners, Stellar, to this Plug and Play batch as well,” saidJoe Guastella, Deloitte’s Global Financial Services Consulting Leader.

“The program is meant to instill as many opportunities for our startups to engage with decision makers within the industry,” says Scott Robinson, Co-Founder & VP of Plug and Play Fintech. “We are incredibly excited at this opportunity to work with the leading minds of entrepreneurs and executives in the financial domain.”

Plug and Play Fintech sourced over 800 applications and has less than a 3% acceptance rate for this batch.

“Credit Suisse is proud to be a corporate partner of Plug and Play Fintech program. We value the diversity in concepts and cross-pollination within the Plug and Play ecosystem. The companies of fintech batch four are already very engaged with our teams and we are eager to further collaborate and explore fresh ideas for our businesses,” said Megan Brewer, Credit Suisse Group Technology Innovation.

The startups for this batch include:

Startup Name

Description

CCOBOX

CCOBOX brings payments compliance into the fintech era. It is an end-to-end solution featuring an intuitive workflow and a modern whole-team dashboard powered by proprietary machine learning algorithms and interactive analytics. CCOBOX’s standardized metrics and one-click pre-formatted reports will put companies in a stronger position with regulators, save money, and free critical technical resources.

Dobot

Dobot (“The Robot for Your Dough”) is the first Mobile Personal Financial Advisor for Millennials. We provide tools, motivation and actionable strategies designed to help our members build their financial foundations and achieve goals they never thought possible. By combining the core components of financial health – saving, spending, borrowing and investing – into one mobile platform, Dobot provides a holistic financial solution that is deeply aligned with Millennials’ daily lives and goals. 

Eximchain

Eximchain is a lending marketplace that provides small to medium-sized import/export businesses with access to affordable trade finance product. Our goal is to increase efficiency and reduce cost of trade finance. We focus on Letters of Credit (payment contract) and working capital financing (for importers and exporters). We use technology to automate bank-led manual and paper based processes.

Flowcast

Flowcast is an advanced analytics startup for trade finance. We build predictive analytics software for financial institutions that dramatically enhance trade financing.

Instrument Capital

White-label personalized risk assessment algorithms. Customized asset allocation for each private wealth client.

Lenny

Lenny is a pioneer mobile lender in the US. The app also poses as a credit score education platform through a recent partnership with FICO. The company uses a peer-to-peer payment solution to offer credit lines targeted toward millennials. Users can cash out their funds to their bank accounts or pay back friends or acquaintances who also uses the app.

Netki

Netki is a Los Angeles based financial technology startup. We provide a suite of standards based naming and identity solutions, which allow developers to build blockchain-based applications that are easy to use, highly interoperable, and compliant with existing regulatory requirements.

Neurensic

Business processes in every industry are shaped by regulatory demands. But compliance teams struggle with processing the vast data of these industries, as regulations and criminal threats become more sophisticated. Neurensic uses artificial intelligence to enable a new global standard for regulatory compliance, revealing insights impossible for humans to find alone.

NUCO

NUCO is building the framework for blockchain-enabled enterprise infrastructure. Using the best tools, available or in development, along with proprietary intellectual property, NUCO aims to create the standard for how distributed networks are built. NUCO’s customizable modular blockchain framework enables any organization, or network of organizations, to leverage a distributed system to achieve efficiency and unlock value.

Omniscience

Omniscience commercializes US intelligence agency AI and distributed data mining research to connect the dots across large, diverse data sources. Financial services companies use Omniscience for risk management, underwriting, and sales intelligence.

Redrock Biometrics

Redrock Biometrics develops PalmID–the first touchless palm print authentication solution. PalmID is a perfect solution for banking and payment. It is 400X more secure than fingerprint and can work on any device with a camera, from phones to VR/AR to ATMs. Show your palm and you are in, easy and secure.

ShoCard

ShoCard is a digital identity card platform built on mobile devices and the public blockchain data layer, using public/private key encryption and data hashing to safely store and exchange identity data.

ShopInbox

ShopInbox is reinventing the credit card experience. It is an intelligent assistant that automatically tracks and claims your credit card benefits (e.g. extended returns, extended warranty, theft protection, price protection etc). This transparency also provides financial institutions with new ways to encourage millennials to shift more spend to credit cards, increase retention rates and provide a new acquisition channel to reach this segment.

SizeUp

SizeUp is big data for small businesses. It provides business intelligence and market research to SME companies so they can make smarter decisions through data. SizeUp is licensed by large enterprises/organizations (such as banks) as a value added service differentiator given to help their business customers succeed and grow.

Stellar Development Foundation

Stellar.org connects financial institutions, payments systems, and people so that anyone can send money to anyone else quickly, reliably, and at almost no cost. The Stellar network reduces friction and fees for micropayments and remittances to make affordable financial services accessible to the world.

The Sun Exchange

The Sun Exchange (SunEx) is a crowd-financing platform that enables micro investing into solar projects in developing nations, from anywhere in the world.   We make distributed clean energy available to SMEs, schools, factories, community centers and other mid-size clients in places where access to affordable financing and reliable energy sources isn’t assured.  SunEx uses digital currency, blockchain smart contracts, IoT, digital currency payment systems, and other new technologies to enable clients to see their ethical returns accumulate in real time, safely and transparently.

Tierion

Use the blockchain as a global platform to verify any data, file, or business process. Developer tools & API to anchor data in the blockchain.

Tradle

Starting with KYC on blockchain, Tradle is building a global trust provisioning network using distributed ledger technology. Winner of KPMG’s 2016 Fintech Challenge and included in The FinTech50 list, Tradle’s mission is to provide a core fintech / regtech infrastructure for a single digital market in EU and globally.

Trunomi

Through offices in the U.S. and Europe, Trunomi is reinventing the way in which financial institutions interact with their customer’s data. Trunomi securely connects financial institutions to their customers with a consent-driven data sharing platform. Trunomi’s technology allows individuals to create and manage their personal data with data rights management, cuts costs, removes friction and delivers amazing customer experiences. It’s consent-based platform revolutionizes the way financial institutions interact with customer data, in full compliance with data privacy regulations.

Vault

Vault is a modern investment platform providing retirement plans for small business. We partner with banks as a direct distribution channel to business clients who need our service. 401(k), IRA, and retirement planning, all on one platform.

xPressTap

xPressTap has developed a powerfully simple and elegant payment solution to enable consumers to use their NFC phone as their own personal POS device for use online as well as off. Users simply “Tap” their contactless card to their NFC Phones to instantly pay online or in app emulating a “Card Present” transaction. The company developed a patent pending engine to read and process payment card information including the dynamic cryptogram from EMV contactless cards (as well as eWallets). 

 

“The quality of the startups and level of engagement from our corporate partners in our fintech program has been unprecedented. We are thrilled to be working with some of the best fintech startups in the world, before the world knows them,” says George Damouny, Principal of Plug and Play Ventures.

Plug and Play Fintech runs twelve week programs twice per year. Plug and Play’s venture team, VC Partners, and corporate partners select the startups that are accepted into the program. Learn more about the program:http://plugandplaytechcenter.com/fintech

See these startups graduate the program and pitch to an audience of top investors and corporate partners at Plug and Play’s EXPO on October 27th. Register here: http://bit.ly/oct27expo

About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 400 startups and 100 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit: http://www.plugandplaytechcenter.com

Media Contact
Allison Romero
Phone: 408-524-1457
Email: allison@plugandplaytechcenter.com

 

SOURCE Plug and Play Tech Center

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