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IBS Journal October 2015
Sibos 2015: who are the twelve Swift Innotribe start-up challenge finalists?
Innotribe is bringing twelve fresh-faced start-ups to Sibos 2015, where they’ll pitch their ideas to an audience that will no doubt include decision makers at the world’s largest financial institutions and banks. Some of the previous Innotribe win-
ners and top innovators have gone on to great (or at least reasonable) success. Tru- axis, a finalist in Toronto in 2011, went on to win ‘best in show’ at Finovate and was acquired by Mastercard in September 2012. Epiphyte, which appeared in 2014, has chalked up revenue of $360,000 since its appearance in Boston and is working on a pilot program, cBridge. The twelve finalists will pitch and
showcase their business ideas to the assembled delegates, who will then choose their winner. The winning finalist will receive a cash prize of $50,000. The twelve companies that will be
appearing in the Innotribe finals at Sibos 2015 are: Pariti – Pariti aims to help people avoid
high-interest debt by giving them access to fairer rates of credit and build a more secure financial future by offering tools, guidance and low-cost loans. The Pariti application will aim to help customers see all of their debt, loans and credit cards in one place and help them understand how much they can afford to spend.
Revolut – Revolut hopes to allow cus-
tomers to exchange currencies at interbank rates and send them via social networks. It also aims to create a multi-currency card that can be accepted anywhere around the globe without hassle or fuss. Sedicii – Sedicii wants to eliminate the
exposure of private data during transmission, authentication or identity verification stages. The technology it plans to use is based on the Zero Knowledge Proof Protocol, whereby one party can prove to another that a given state- ment is true without having to convey any information other than the answer. Iwiafrica – Iwiafrica delivers mobile
applications for use on top of established mobile wallets, to help banks and mer- chants increase mobile e-commerce in their respective markets. Notafy – Notafy has created a mes-
saging infrastructure that it hopes will help companies communicate with their customer via mobile instant messaging instead of using the more costly process of sending an SMS. YueDilligence – YueDilligence is aim-
ing to provide entrepreneurs, investors and service providers with an actionable and light-touch due diligence tool to help them assess deal readiness and suitability. Bitspark – Bitspark is a provider of crypto-financial services for the APAC
region and is a ‘pioneer’ of the world’s first blockchain powered end-to-end remit- tance service. The company also provides a blockchain auditable trading exchange. Jewel Paymentech – A Singapore-
an company, Jewel Paymentech provides an automated risk management platform for banks and payment facilitators to help them manage e-commerce merchant risk through analytics. Trustingsocial – Trustingsocial aims to
use big data and deep learning technolo- gies to create a social way for consumers to access their credit rating on both mobile and web-based platforms. Hyperledger – Hyperledger is a distrib-
uted ledger platform tailored for financial institutions to help mitigate settlement risk, provide trade breaks and cut reconcil- iation costs. Sizeup – Sizeup aims to provide finan- cial institutions with big data for their small business customers and help those small- er customers make smarter decisions and grow using ‘the power of data’. Token – Token wants to help banks
meet the requirements for secure pay- ments by providing an end-to-end pay- ments ecosystem entirely accessible to developers – where all transactions are authorised using digital signatures.
Alex Hamilton Worldpay bidding war ends as it launches IPO
Payment processing company Worldpay’s executives have dropped their indecision and launched an IPO on the London Stock Exchange (LSE) – with a view to raising £890 million. Phillip Jansen, chief executive of
Worldpay, says: ‘The IPO is an exciting and logical next step as we seek to continue this momentum. It will enable us to access new capital for growth, augment our glob- al proposition and further enhance our ability to serve customers across the world.’ The announcement means German payments firm Wirecard plans for a $9.4
16
billion takeover bid are off. Other suitors included Blackstone
Group and Hellman & Friedman, who had earlier stepped up their joint bid for World- pay; and French payment processor Ingen- ico who made a £6.6 billion bid for World- pay earlier this month, in a bid to merge both companies and create a payment titan worth over £11 billion. Worldpay is now expected to pay
20-30 per cent of its profits in dividends to its shareholders, with the first instalment taking place in late 2016. Its floating shares will contain 25 per cent of its outstanding
© IBS Intelligence 2015
www.ibsintelligence.com
stock and the decision to trade on the LSE means they will enter the FTSE 100. Worldpay acquired fellow process-
ing service Yespay in 2013, to offer its cli- ents a front-to-back office solution with omnichannel shopping capabilities. The number of transactions on its plat-
forms has also grown by 16 per cent since 2014. Formerly owned by the Royal Bank of Scotland (RBS), the British processor was bought by Advent International and Bain Capital in 2010 for £1.7 billion. RBS sold its remaining stake in the company in late 2013. Alex Hamilton
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