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masterQueue Selected To Present CCPA Data Privacy Solution For Debt Collection At FinovateFall

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Intellaegis, dba “masterQueue”, a leader in debt collections software, was selected to present at FinovateFall in New York City September 23-25th, 2019.

“masterQueue launched as an Artificial Intelligence based Debt Collection software at FinovateSpring in 2011, well before A.I. became a well-known strategy in FinTech. We’re excited to see the Compliance and Data Privacy solutions they’re launching at FinovateFall,” said Greg Palmer, VP FinTech strategy at Finovate.

masterQueue has become the dominant FinTech solution where Debt Collection process management change using FinTech has been identified by innovative Financial Institutions in Auto Finance, Credit Card and other verticals as a solution to improve on older, manual, legacy Debt Collection processes that need a makeover.

masterQueue was created to automate the skip tracing process by automatically gathering consumer data to streamline the method of finding customers that financial institutions have lost touch with. masterQueue’s CEO and Founder John Lewis was a former Skip Tracing lead trainer at Chrysler Financial, and in 1988, John and his wife/business partner Perla built the first skip tracing company and masterQueue is their 9th start up within the auto finance vertical.

“In prior years, we helped build niche industries around the Skip Tracing and Repossession processes. This changed how lenders managed this part of their portfolios. While those companies we built became pioneers of billion dollar niche industries in auto finance, what masterQueue, and eventually what all debt collection platforms will do in regard to data, efficiency and compliance, I believe, will completely transform the entire Debt Collection industry. It will shift from an old school, labor intensive, manual process driven business model to an efficient, well-oiled machine that embraces and utilizes all the great parts of FinTech,” Lewis said.

In addition to efficiency gains, the reason masterQueue is presenting again at Finovate has more to do with the new Data Privacy laws like CCPA, and with the CFPB and different States constantly updating the regulatory rules around Debt Collection.

“Our clients face complex challenges in finding and contacting customers in a compliant manner. We’re in an environment where the rules are constantly changing and new Data Privacy laws require FI’s and their vendors to track and secure every piece of data on every person whose data they come into touch with. That’s not easy without a solid FinTech platform built around a comprehensive data mapping and data hygiene plan,” commented Lance Suder, masterQueue’s Director of Operations.

With this dynamic in play, one of their long-time clients approached masterQueue to collaborate and build a solution to address these regulatory challenges to help them pro-actively stay ahead of the curve in protecting their customers data and privacy.

“No lender cares more about their customers, and they set the bar on how Financial Institutions should treat consumers. It was no surprise when they came to us to build a feature in masterQueue to protect and respect their customers data. We’re excited that’s been nominated for a collaboration award at FinovateFall,” Lewis said.

This project, and all of the masterQueue compliance and efficiency features will be showcased at FinovateFall, and at the Auto Intel Summit (AIS) July 23-25th in Raleigh, NC.

At AIS, Lewis will be speaking on a Data Privacy panel that will be moderated by Rod Arends, VP of Loan Servicing at Southeast Toyota Financial. He’ll be joined by Mary Ross, co-author of the California Consumer Privacy Act; David Lincicum, General Atty at the Federal Trade Commission, and Becky Kuehn, Partner, & Chair of the Credit, Reporting, Privacy and Data Security Practice Group at Hudson Cook, LLP.

The following day, Lewis, Ross and Kuehn will be joined in a data privacy workshop by Jessie Herdrich, VP of Compliance and Operations at PAR North America, a long time masterQueue customer and an innovator in third party vendor servicing. A masterQueue user conference, also moderated by Rod Arends, will then be held from 11AM to 1PM on 7/25 to close out AIS.

 

SOURCE masterQueue

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360Quadrants Recognizes IBM, Microsoft and Salesforce as Visionary Leaders in the AI in Fintech Space

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AI in Fintech solutions are used by enterprises to perform finance-related tasks that traditionally require human intelligence. These solutions leverage AI-equipped technology to allow the financial sector to design better investment strategies, swiftly detect anomalies, recognize patterns in data, implement voice recognition, and engage in thorough market analysis. Simply put, the AI in Fintech market hosts vendors that provide AI-enabled Fintech solutions.

360Quadrants the most granular comparison platform has released a quadrant on AI in Fintech Solutions to help businesses make quicker and more informed decisions. The quadrant has IBMMicrosoft and Salesforce sharing space as Visionary Leaders. 360Quadrants are generated post analysis of companies (product portfolios and business strategy). Quadrants will be updated every three months based on market and regional analysis and developments in AI in Fintech.

AI in Fintech Solutions Quadrant Highlights

360Quadrants covers 79 companies in the AI in Fintech Solutions space and places the top 44 of them in a quadrant depending on their quality, reliability, and business outcome. These 44 companies are categorized into Visionary Leaders, Dynamic Differentiators, Emerging Companies, and Innovators.

360Quadrants recognizes Intel Movidius Neural Compute Stick, Amazon AWS Alexa, Salesforce Einstein, Google Cloud Platform, Microsoft Cortana Intelligence Suite, and IBM Watson Platform as Visionary Leaders; IPSoft Amelia, ComplyAdvantage, Nuance Virtual Assistance, Inbenta InbentaBot, Digital Reasoning Conduct Surveillance as Innovators; Samsung and Microstrategy HyperIntelligence as Dynamic Differentiators; and DataRobot, Razorthink Big Brain, Numenta HTM for Stocks suite, Anodot AI Analytics, Brighterion Smart Agents, Kasisto Kai BankingNext IT AlmeZestFinance ZAML, Ayasdi Enterprise AI, Voyager Analytics, AlphaSense and Wallet. AI as Emerging Companies. The 360Quadrants platform provides the most granular AI in Fintech Solutions comparisons between vendors.

Additionally, 360Quadrants has dived deep into research and released a niche region-specific quadrant. This quadrant recognizes the top player in the market in specific regions. The regional quadrant covers North AmericaEuropeAsia PacificMEA, and Latin America. Intensive research was conducted to place companies in regional quadrants based on their developments, presence—both online and physical—and support/reach in specific regions. IBM Watson, Salesforce, and Microsoft are recognized as Visionary Leaders across regions. In the North America and Asia Pacific regions, Intel Movidius Neural Compute Stick is recognized as a Visionary Leader by 360Quadrants. Finally, for Latin America and MEA, 360Quadrants recognizes AWS as a Visionary Leader.

Methodology

The methodology used to rank AI in Fintech Solutions companies involved the use of extensive secondary research to identify key vendors by referring to annual reports, press releases, investor presentations, white papers, and various related directories and databases. 44 key vendors were shortlisted based on their breadth of product offerings, organization size, and other criteria. The scores and weights for shortlisted vendors against each parameter were finalized post research.  After the finalization of ratings, each vendor was placed in the most relevant quadrant based on their score in the product offering and business strategy parameters.

 

SOURCE 360Quadrants

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Infinicept Achieves 5X Growth Putting FinTech and SaaS Companies on the Fast Track as Payment Facilitators

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As the payment facilitator market continues its trajectory of nearly 80% CAGR, representing $500 billion in total transaction volume by 2021, Infinicept is quickly capturing market share as the first and only open, agnostic payment facilitator platform. Since the company’s launch in 2012, Infinicept has helped fast track over 200 payment facilitators by offering consulting services and products that greatly reduce the time it takes to embed payment acceptance into software offerings. This momentum continues in 2019 as Infinicept records 500 percent growth in revenue and customer acquisition.

Recognizing the potential for further growth, Mastercard has invited Infinicept to join Start Path, a six month program that connects innovative later-stage startups to Mastercard’s global ecosystem.

“Having evaluated 10,000 startups from across the globe, we are always adding ground-breaking entrepreneurs to our network of innovators,” said Amy Neale, Mastercard vice president and global lead for Start Path. “Mastercard Start Path companies today are later-stage startups reaching unicorn status, entering the public markets and co-creating with world-renowned financial services firms to deliver real solutions for consumers.”

As the payment facilitator model matures, hundreds of thousands FinTech and software as a service (SaaS) companies worldwide are realizing they can provide a better customer experience and increase revenues and valuation by becoming a payment facilitator. The main obstacle being the time it takes to become a payment facilitator and the risks that come with onboarding submerchants. Payment Facilitator in a Box™ was developed by Infinicept to provide companies with the merchant underwriting and back office platform they need to easily get up and running—in weeks, not years.

Infinicept has already attracted customers in a variety of vertical markets who recognize the benefits and return on investment (ROI) this payment model offers.  Signed customers include businesses in retail, food and beverage, healthcare, real estate, events and many more.

“Within the healthcare industry, there is a huge demand for a more positive payment experience. Patients expect modern, intuitive payment tools and large health systems need the flexibility to respond to their patients’ financial needs by rolling out consumer-friendly payment options across their enterprise,” said Alan Nalle, Chief Strategy Officer of Patientco. “Leveraging Infinicept’s innovative Payment Facilitator in a Box™, Patientco simplifies the complexities of implementing, managing and scaling new payment technology for health systems while providing a superior financial experience that today’s patients expect.”

“FinTech and SaaS companies see the value of integrating merchant acceptance, underwriting, onboarding and back office operations into their products, but in order to do that, they need a supporting platform that reduces the complexities of it and works with any bank, processor, gateway or CRM they choose,” said Deana Rich, Co-Founder and Co-CEO of Infinicept. “Achieving 500 percent revenue growth and joining the Mastercard Start Path program confirms Infinicept is on the right path to fill a critical market need for FinTech and SaaS companies. Our engineering team and partners have done a great job delivering a dynamic suite of open and automated services that provide an operational backbone for any company looking to take the simple path to becoming a payment facilitator.”

 

SOURCE Infinicept

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Guaranteed Rate Appoints Suk Shah as Chief Financial Officer

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 Guaranteed Rate, one of the largest retail mortgage lenders in the nation, has hired Suk Shah as its Chief Financial Officer to accelerate growth. As Guaranteed Rate continues to break monthly volume records, it has been named one of 2019 Chicago’s largest privately held companies, reporting nearly $24 Billionof overall loan volume in 2018 alone.

“Suk is a huge hire for Guaranteed Rate and is a perfect cultural fit,” said Founder & CEO Victor Ciardelli. “With an extensive background as a FinTech CFO, he brings a ton of experience to the company, including areas such as mergers and acquisitions.”

As CFO, Shah will lead and oversee Guaranteed Rate’s focus on profitability and efficiency, while supporting various growth strategies and initiatives. Shah’s presence will enable Guaranteed Rate to expand the company’s product, technology and service solutions that will further enable the business to drive revenue growth and margin expansion across the organization.

“Guaranteed Rate is a pioneer in the digital mortgage industry and is uniquely positioned as an industry leader to drive mortgage volume and revenue through its innovative products and services,” said Shah. “I’m looking forward to joining this highly tenured and passionate leadership team to make a transformative impact for the company.”

Shah joins the Guaranteed Rate team from his former position of nearly five years at a high-growth financial technology company, where he helped raise over $600 million in equity and $4 billion in debt capital. Before that, Suk was the CFO of the US and Canadian divisions of a Global Commercial Bank where he oversaw a $40 billion loan and deposit. Shah began his career with General Electric and spent over eight years with the company in various finance and operating roles, helping to execute business priorities and deliver financial commitments.

Shah has a Bachelor’s degree in Finance and Information Systems from the University of Illinois and an Executive MBA from Northwestern University.  He lives in Hinsdale, Ill., with his wife and two children.

Guaranteed Rate has delivered competitive pricing, mortgage products and unmatched expertise from its top-producing loan officers, helping thousands of customers move into their dream homes. The Company introduced the market’s first Digital Mortgage, creating an easy-to-understand, transparent loan process, which has led to an industry-leading customer satisfaction rating and exponential growth.

 

SOURCE Guaranteed Rate

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