Finovate - Conferences Showcasing the Future of Financial & Banking Technology
FinovateFallFinovateEuropeFinovateSpring
Check out FinDEVr

Blog

TopicsTopics   TopicsArchives  

Alumni News-- July 22, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMasterCard announces strategic partnership with Saigon Thuong Tin Commercial Joint Stock Bank to support card payments.
  • Finovate alums win honors at inaugural Mobile Innovations Awards event.
  • IDology teams up with CARD.com to boost activation and combat prepaid card fraud.
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.


Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

Congratulations to four Finovate alums that took home top honors at the Mobile Innovations Awards.

MobInn_mag_27June.indd
The Mobile Innovations Awards "pay tribute to those pushing the boundaries of what is possible using a mobile device." Focused on innovation in the EMEA (Europe, Middle East, and Africa) region, the awards are designed to help companies raise their profile in the area, as well as network with peers and potential partners.

A total of 21 awards were given: 18 mobile categories and three "special recognition awards". More about the award categories here.

The Mobile Innovations Awards is organized by the founders of The Card & Payment Awards and The Loyalty Awards. Finovate alum TSYS was a prime sponsor, and Monitise Create, another alum, was a category sponsor.

The Mobile Innovations Awards of 2015 will make its Call for Entries on November 1, with an entry deadline of February 28, 2015. EMEA-area businesses with live products or services in 2013 are eligible to apply.

See the most recent demo videos from our award-winning alums below:

Arxan Technologies (FinovateEurope 2014)
Top Image Systems (FinovateEurope 2014)

Alumni News-- July 21, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgACI Worldwide announces plans to acquire fraud prevention specialist, Retail Decisions (ReD).
  • Monitise and IBM formalize multi-year partnership to enable broader mobile banking and e-commerce technology adoption.
  • Standard Bank to be first southern African FI to offer MasterPass from MasterCard.
  • American Banker covers how Dwolla payment network enables Google Glass payment technology.
  • PBS Newshour considers how HelloWallet helps users meet their financial goals.
  • InfoWorld: Ping Identity wants to replace sign-ons with smartphones.
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.


FinovateFall2014_logo

It's summer here in Seattle. But here at Finovate, we're already looking forward to the fall.

FinovateFall 2014 will return to New York City on September 23 and 24 to showcase an interesting blend of bold startups and industry veterans.

Without any further ado, here's an introduction of the FinovateFall 2014 presenting companies:

  • Algomi is a markets social network for voice trading in professional finance.
  • AnchorID replaces all your different usernames and passwords with a single Universal Username from Anchor ID.
  • Ayasdi uses Topological Data Analysis to transform how the world uses data to solve problems.
  • Backbase provides Backbase Engage for Retail Banking, out-of-the-box widgets and industry best practices to modernize your digital retail banking experience.
  • BCSG offers unrivaled experience and expertise in helping large organizations deliver cloud-based services to their SMBs.
  • BioCatch is a leading provider of behavioral authentication and threat detection solutions for mobile and Web applications.
  • BizEquity is the ultimate lead generator for banks and financial advisors serving small business owners.
  • blooom is a whole new way to 401(k).
  • BlueVine Capital lets small business get an immediate advance on their invoices, freeing up cash for paying expenses and growing their business.
  • CR2 provides innovative self-service banking solutions including ATM, Kiosk, Internet banking and Mobile banking solutions.
  • CrowdFlower is a people-powered data enrichment platform to collect, label, and clean financial data at scale.
  • eMoney Advisor is changing the way financial advisors serve their clients.
  • eXscan is a proactive defense technology that guards against financial abuse of older Americans.
  • EyeLock is a global leader in iris-based identity authentication solutions focused on changing the way identities and information are protected.
  • FamDoo has automated the traditional allowance process and helps teach kids financial literacy.
  • Financeit is a platform that makes it easy for businesses of any size to offer consumer financing to their customers.
  • Finovera provides an online bill management and financial document storage product that complements the online banking experience.
  • Fiserv is a leading global provider of information management and electronic commerce systems for the financial services industry.
  • FlexScore, the industry's first personal finance score, engages customers by recommending products via "gamification" strategies.
  • Geezeo provides a Business Financial Management platform, offering business customers predictive insight and capability beyond the expected.
  • Global Debt Registry is the independent, digital, Chain of Title tracking system for the consumer debt industry.
  • Gremln is the complete social media management tool for marketing success while maintaining regulatory compliance.
  • HedgeCoVest brings hedge funds to the investing public through its revolutionary Replicazor technology.
  • Hoyos Labs is a digital infrastructure security company with security, computer vision, biometrics, and big data experts.
  • iQuantifi is a virtual financial advisor helping young families and millennials achieve their financial goals.
  • Kabbage funds small businesses in fewer than 7 minutes.
  • Kapitall, the fusion of investing and gaming, is the next-generation financial platform for Millennials.
  • Knox Payments allows people to make ACH payments via their online banking credentials.
  • Larky helps consumers save $1,000+ per year while boosting loyalty and transaction revenue for financial institutions.
  • LendKey provides cloud-based lending solutions for 285+ banks, credit unions, and peer-to-peer lenders.
  • Linqto connects you to a live teller or loan officer from your phone or website.
  • Luxoft is a leading provider of software development services and innovative IT solutions to a global client base consisting of multinationals.
  • Malauzai Software provides Cool SmartApps for community banks and credit unions that are easily managed and measured.
  • Matchi is a global innovation matchmaking platform that brings the best minds in banking and the world's brilliant innovators together.
  • MaxMyInterest is an intelligent cash management solution that helps you earn more on FDIC-insured bank deposits, automatically.
  • mCASH lets you pay to anyone. Anytime.
  • Minetta Brook is augmented intelligence for surfacing trading ideas from real-time developing news.
  • Misys Digital Channels is the leading innovators of digital banking technology for financial institutions.
  • MoneyStream is a next-generation PFM service that lets consumers see and manage their day-to-day spending in one place.
  • NICE Systems gets you closer to your customers, analyzing every interaction and transaction to build a detailed picture of the customer journey.
  • NopSec is a vulnerability risk management software-as-a-service that helps businesses to reduce IT cyber-risk by remediating the vulnerabilities that matter most.
  • Patch of Land is crowdfunding's leading peer-to-peer real estate lending marketplace.
  • PayItSimple enables merchants to offer their customers the option of paying for purchases in installments via the customer's existing credit card, interest free.
  • Powerlytics is a market intelligence platform that powers better decisions by using the most accurate comprehensive business and consumer finance data available.
  • Progresso Financiero is the leader in responsible and affordable small dollar credit for underserved Hispanics.
  • SelfScore is a better way of qualifying credible young people. We are like FICO for millennials.
  • Sonavation is a pioneer in advanced biometric authentication solutions leveraging patented deep scan imaging and data encryption technologies.
  • Sr. Pago is a mobile payments platform for the unbanked in Mexico.
  • Thinknum is a web platform to value companies.
  • TickSmith makes financial big data usable with its big data platform.
  • Toopher is the most usable and most secure multifactor solution for logins and critical action authentication.
  • Top Image Systems is an innovator of enterprise solutions for managing and validating content entering organizations from various sources.
  • True Potential is one of the UK's fastest-growing and most innovative financial services technology groups.
  • Vantiv is a leading integrated payment processor focused on helping its clients be more successful.
  • VerifyValid is an innovator in providing electronic check payments for businesses, consumers, banks and their customers.
  • WingCash is a unique payment and promotion platform allowing individuals and businesses to pay one another with cash from mobile devices.
  • Yodlee is a Financial Cloud, powering digital financial innovation globally.
  • Zenmonics & Diebold combine to pioneer technology that innovates customer engagement within the branch.
In addition to the companies listed above, we'll have a few more stealth companies to announce as we get closer to the event.

Be sure to stay tuned for our Sneak Peek series, which will help you get to know each company in advance of the show.

Join us in New York! Get your ticket to FinovateFall 2014 before August 16 to qualify for Early Bird savings.


Thumbnail image for Thumbnail image for Check_Logo_new_large.jpg

Less than a month after being acquired by Intuit, Check has announced that it is expanding the beta program for its latest innovation: photo bill pay.

Starting this week, tens of thousands of Android users will have the opportunity to take Check's photo bill pay technology for a trial run. The company hopes to have its photo bill pay solution available on all platforms by the end of the year.

check_photobillpay_screenshot
How does Check's photo bill pay work? Start with an Android smartphone, an installed Check app, and an unpaid bill. Users open the camera icon on the app, and then take a photo of the bill with their smartphone. The next screen provides the user with some basic information, as well as a scanned copy of the bill.

Consumers can pay with whatever payment method they prefer, such as a bank account or credit card. The bill can be paid immediately or scheduled for payment at a later date.

As Check sees it, not only is photo bill pay a great convenience for the consumer, but also the technology supports the company's mission to promote a paper-free world when it comes to managing personal finances.

Note that the photo bill pay technology is free to use and works with any payment method.

Launched in 2008 under the name Pageonce and demoing under that name at FinovateFall 2010, the company rebranded as Check in the summer of 2013. It was acquired by Intuit in May 2014. The company has more than 11 million users. Guy Goldstein is CEO.

Alumni News-- July 18, 2014

  • Finovate-F-Logo.jpgInnotribe finalists include early stage companies CurrencyTransfer and LendingRobot.
  • Innotribe finalists include growth stage companies Advanced Merchant Payments, Fastacash, Mambu, and Wallaby.
  • Pymnts talks with PaySimple CEO and founder Eric Remer to discuss how PaySimple looks at B2B payments.
  • Check announces major expansion of photo bill pay beta.
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.
DashlaneLogo.jpg

Password management platform Dashlane recently released an update that will give organizations more control over accounts that need to be shared across team members.

The New York-based company's latest release will include three major upgrades:

1) Sharing Center, a dashboard that displays all of a user's accounts synched with Dashlane. It enables them to share the passwords with others, automatically informing all users when a shared password changes.

From the Sharing Center, users can also manage access levels, giving others full rights or limited rights to the password.

2) Emergency Contacts gives users the ability to provide a trusted emergency contact with access to select accounts in case of emergency.

3) View Password History gives users a comprehensive view of all of the passwords they have previously held in Dashlane.
 

In addition to the new sharing functionality, it is also releasing an upgrade to its user interface.

Dashlane was founded in 2009. At FinovateEurope 2013 it demoed how its online and mobile interfaces make online transactions easier and faster.

Alumni News-- July 17, 2014

  • Finovate-F-Logo.jpgPaySimple to enable SMBs to accept payments and automate billing under Zen Planner's software solution.
  • Dashlane launches password management for teams.
  • Top Image Systems acquires eGistics for $18 million.
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.

zooz_logo_new

Almost a year ago to the day, we featured Zooz CEO Oren Levy as part of our CEO interview series.

Today, we learn that the e-commerce payments innovator has announced a new $12 million investment, courtesy of a funding round led by Blumberg Capital. Zooz's total capital now stands at more than $30 million.

Existing investors participating in the round were lool ventures, Rhodium, and XSeed Capital. New investors included Access Industries and Camp One Ventures. Zooz plans to use the new capital to further develop its technology, as well as to support the company's growth as it looks to add new offices and scale up operations.
Zooz_homepage_new
Speaking of the funding, Zooz CEO Oren Levy pointed to the challenges of "globalization, omni-channel retail, and coordination between multiple financial institutions" to help explain his company's mission - and its attractiveness to investors. By providing retailers with greater payment flexibility, Zooz helps businesses grow revenues, gain new customers, and participate in new markets. 

Blumberg Capital's Alon Lifshitz added:

"There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels."

Zooz enables enterprise-class retailers to optimize their payment process through a broad network of acquirers and payment methods. Zooz helps companies access these acquirers and methods, as well as making it easy for new acquirers and methods to be added and integrated into the network. The company's Smart Routing solution allows retailers to achieve and provide a consistent, cross-channel payment experience for both sides of the transaction.

Zooz was founded in 2010. The company made its Finovate debut at FinovateFall 2013, showing its Global Payments Platform.

Alumni News-- July 16, 2016

  • Finovate-F-Logo.jpgpeerTransfer and Nelnet expand partnership, enhancing international payment options for educational institutions.
  • Xero MD Chris Ridd featured on Qantas radio. Check out Xero at FinDEVr, the first event for fintech developers.
  • Micronotes releases Mobile-SMS to automate the referral process through the mobile SMS channel to drive more sales.
  • Lendio launches program for brokers that helps more SMBs find financing by giving brokers and ISOs access to Lendio's lending options.
  • New app from The Members Group alerts Google Glass wearers if a Dwolla-accepting merchant is nearby.
  • mBank deploys authentication technology from HID Global.
  • Jack Henry launches jhaEnterprise Workflow solution.
  • Coinbase integration brings bitcoin payments to Shopify merchants.
  • Zooz raises $12 million in round led by Blumberg Capital.
  • MasterCard's MasterPass to enable in-app payments by August.
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.
Coinbase_lo_res_logo

If you're a merchant on the Shopify e-commerce platform with a hankering to join the cryptocurrency revolution, then Coinbase has some very good news for you.

Thanks to a new integration of Coinbase's technology, the more than 100,000 merchants that rely on Shopify to do business online will be able to start accepting payment in bitcoin as early as Tuesday.

The process involves setting up a Coinbase account, initiating the integration on Shopify, providing account credentials, and that's it. Already on board are merchants such as Leap Motion, Soylent, and iOgrapher.
coinbase_homepage
Coinbase is a bitcoin payment processing and digital wallet platform that makes bitcoin transactions easier and safer. The company holds more than one million consumer wallets, and enables more than 28,000 merchants to accept payment in bitcoin. There are no fees charged for the first $1,000,000 in transactions, with merchants paying a 1% exchange fee beyond that amount. Coinbase's most recent innovation, demoed at FinovateSpring in San Jose this year, is called Instant Exchange and helps remove exchange rate risk from bitcoin transactions.

Coinbase has had a busy first half of 2014. The company's technology was integrated with Intuit's PayByCoin in June. And Coinbase earned a spot on CNBC's Disruptor 50 list shortly after announcing its acquisition of Kippt in May.

Founded in 2012 and headquartered in San Francisco, Coinbase was co-founded by Brian Armstrong (CEO) and Fred Ehrsam (President).



Developers! Curious how Coinbase makes it easy for merchants to add bitcoin payment functionality to their businesses and apps? Learn more about Coinbase's Bitcoin API here. And be sure to check out our FinDEVr page for updates on the first event for fintech developers.

Alumni News-- July 15, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHow Big is the Braintree SDK? PayPal's Acquisition Launches Toolkit Reboot.
  • Fiserv partners with ChannelNet to provide self-service options for LoanLink borrowers.
  • MasterCard introduces its MasterPass e-commerce technology in South Africa.
  • Upstart Business Journal features Taulia.
  • TSYS' ProPay partners with ThreatMetrix to provide fraud prevention solutions to its customers.
  • Top Image Systems announces appointment of Lyron Bentovim to CFO.
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.
Thumbnail image for BraintreeLogo2.jpg

For all the anticipation of draft day, there's nothing like the excitement on the day when fans get to see the new addition finally take the field.

That team is PayPal and their newest addition, Braintree has just made its first big play: v.zero.

V.zero is a major overhaul of Braintree's Software Development Kit (SDK) that puts PayPal integration front and center for app developers eager to add in-app payment functionality to their solutions.

Thumbnail image for PayPalLogo.jpg
Writing at the Braintree v.zero blog, Ben Mills and Tony Pitluga point to the new SDK as a major, post-acquisition goal. "From the moment we joined forces with PayPal in December 2013, we have been working hard to make accepting PayPal as simple as we made accepting credit cards."

Braintree also provides a Sandbox to let developers test v.zero without needing a PayPal account. The SDK offers both online/web integration via Javascript, and mobile by way of Android and iOS. A complete PayPal integration guide is available here.
BraintreeSDK1
Here's a look at some of the issues raised in the coverage of the announcement late last week.

Forbes focused on the "D" in Braintree's SDK, making the point that the new tools will make it that much easier for mobile app developers to get paid for their work. This is no accident. Forbes notes how Braintree is pursuing the "long tail" of startups whose services tend to require "payments on the spot" and are "built exclusively for smarphones."

Forbes also highlights on beta tester, retailer Jane.com. The company says that it now gets 11% of its sales through PayPal since integrating Braintree's new tools.
BraintreeSDK2
TechCrunch makes sure to put the new SDK in the context of the recent acquisition that brought Braintree into the PayPal tent. In addition to noting that the SDK is the "first significant product announcement" since the acquisition, TechCrunch underscores how the technology has been "rebuilt from the ground up."

The goal of the rebuilding is to make it easier and faster for merchants to integrate the tools into their own systems. Speed (10-15 minutes) is one factor, but TechCrunch also noted features like the "drop-in" user interface that makes it easier for smaller startups to further minimize the time spent in integration.

TechCrunch's reporting also provides a handful of interesting quotes from PayPal CEO, Bill Ready. In particular, Ready's idea of being able to change payment methods in app as simply as "flipping a switch" is part of what he considers "future proofing" the technology.
Braintree3
And with a bit of prompting, it is clear that the future Ready is proofing for includes everything from international commerce, non-card payments, and even crypto currencies like Bitcoin.

We also get the names of some additional beta testers, with Chargify, GitHub, and ParkWhiz also reportedly taking v.zero out for a spin. Twilio is also said to be planning to integrate the SDK.

Other interesting observations included a note in VentureBeat that PayPal's current mobile API will continue to exist. But that it is clear that the v.zero will be treated as the "preferred way to integrate PayPal" going forward.

Founded in 2007, Braintree demoed its recently-acquired Venmo Touch technology at FinovateSpring 2013 in San Francisco. See the company on stage here.



And if you like coverage of developer issues, then you'll love FinDEVr. Brought to you by a team from Finovate, FinDEVr is the first event for fintech developers and will take place September 30 and October 1 in San Francisco. Take a look at some of the innovators who are already on board:
Join us! Early bird discounts are in place until July 25. Visit our registration page here to save your spot.

Alumni News-- July 14, 2014

  • Webster Bank to deploy online banking platform from ACI Worldwide.
  • MasterCard's e-commerce enabler MasterPass launches in Poland.
  • Wall Street Journal features Klarna and its plans for expansion.
  • WSJ features BehavioSec. Get a closer look at BehavioSec at the very first FinDEVr.
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.
FinDEVr Logo

In late May, we were very excited announce the launch of our new event series called FinDEVr which is focused on the latest tools, APIs, and platforms for fintech builders -- i.e. developers, VPs of engineering, software architects and CTOs -- because we were sure it was a missing piece of the innovation ecosystem.

After two months and a ton of conversations, it is clear that the event has struck a nerve with the market as the response has been tremendous and momentum has been building with every week.

We already have commitments from top-notch presenting sponsors like TD Ameritrade, Yodlee, PayPal, Xero, Avoka, FinancialApps, Cardflight, Behaviosec, Mifos Initiative, Modo Payments, and Cloud Lending -- with many more to come.

In addition, tickets have been selling strongly and we're pleased to be projecting an audience of 400-500 for the debut event in San Francisco on September 30 - October 1st. The room is going to be packed with developers and technical execs from startups as well as financial institutions like CIBC, Wells Fargo, BlackRock, USAA, Capital One, and Western Union.

If you and/or your technical colleagues are interested in attending to learn about the latest innovations for fintech builders, tickets are on sale at the super early-bird price of $300 off through Friday July 25th. And if you're a company with an innovative API, platform or tool for building the next generation of fintech, we're still accepting applications to present through July 31st -- please email sanfran@findevr.com for more details.

We'll see you there!

FinDEVr San Francisco 2014's industry sponsor is: Life.SREDA

FinDEVr San Francisco 2014 is partners with: BankersHub, BayPay Forum, California Bankers Association, fin-tech.org, Hotwire, Mercator, PaymentWeek & The Paypers

Thumbnail image for Thumbnail image for PersonalCapitalLogo.jpg

Thanks to Personal Capital, when it comes to finance and investing, you can take it with you.

Personal Capital announced yesterday that its finance management app is now available on Android's smart watch, Android Wear.

Personal Capital Chief Product Officer Jim Del Favero called wearable devices "the next evolution of mobile."  When users have Personal Capital on their Android Wear device, they can access a full suite of PFM functionality with them wherever they go.

The free app is available for download in the Google Play Store. Features include:

    • YouIndex: end of the day notification feature that compares your portfolio (your "YouIndex") to the S&P 500 and other stock market indices
    • Advice and Alerts: personalized notifications for goal-tracking
    • Actionable Information: an omni-channel experience that allows users to access the app on more than one device
Personal_Capital_homepage
Part of a growing ecosystem of alternative investment management services, Personal Capital differs from so-called "robo-advisors" by not just relying on algorithms to make investment decisions. Technology plays a role, of course. Personal Capital CEO Bill Harris said in a June interview with CNBC that automated tools helped "discipline" the investment process, and refers to his company as "technology-assisted." But in combining technology with what he calls "sophisticated and customized management" Personal Capital brings a wealth management model that has worked for high net worth individuals to a broader, "mass affluent" market.

Personal Capital is headquartered in Redwood City, California, and was founded in 2009. The company last demoed at the FinovateSpring conference in San Jose earlier this year. See a video of the company on stage here.

Alumni News-- July 11, 2014

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg
  • Taulia launches Early Payment Quick Start Initiative to facilitate early payment financing for small businesses.
  • SecureKey teams up with Oberthur Technologies to offer new, device-based online authentication solutions.
  • Guest column by Monitise in Forbes says Turkey is fertile ground for technology innovation.
  • Germany-based ayondo opens office in Singapore.
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.
Thumbnail image for CachetLogo.jpg

Guess who quietly just went public?

Cachet Financial Solutions announced the pricing of its initial public offering this week. The remote deposit capture (RDC) and mobile wallet solution provider will trade on the OTCBB under the ticker, CHTF CAFN (see update below). Four and a half million shares priced initially at $1.50 have been made available to the public.

Update: Cachet Financial Solutions changes their ticker symbol to CAFN.

Late in trading on Thursday, shares were up more than 1%.
Cachet_financial_homepage
The goal of the offering is to raise as much as $7.7 million (if an over-allotment option is fully exercised; closer to $6.7 million). Northland Capital Markets is the book-running manager for the IPO, with The Benchmark Company and MLV & Co. serving as co-managers.

Cachet's SEC filings provide some insights into the company's finances - at least as of this spring. Cachet Financial Solutions' revenues of more than $476,000 for the three months ending March 31, 2014 were up more than 145% from the same period a year ago. A comparison of Cachet's net losses between the two periods reflects similar improvement, with the company trimming its losses by more than 53%. As of March 31, Cachet had more than $91,000 in cash and cash equivalents.

Known for its RDC and mobile money management solutions, Cachet Financial Solutions is a cloud-based, software-as-a-service innovator. With recent deployments at Navy Federal Credit Union, FirstView LLC, and The Bancorp Bank in just the past month, Cachet Financial is taking advantage of the growing interest among banks and FIs to provide better experiences for their customs via technology.

Founded in 2010 and headquartered in Minneapolis, Minnesota, Cachet Financial Solutions demoed its technology at FinovateFall 2012 in New York. See a video of the company on stage here.

Alumni News-- July 10, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgOptimal Payments announces partnership with Oink.
  • Braintree releases v.zero SDK, featuring support for Pay with PayPal.
  • Bank Innovation highlights leaders at Ripple, LoopPay, Finect, and Fiserv in its list of 30 key innovators in fintech.
  • Segmint named a Preferred Vendor of MAGNET Global Network.
  • Holvi preps to launch into Irish marketplace.
  • doxo named one of Washington State's 100 Best Companies to Work For 2014 by Seattle Business magazine.
  • Think Advisor features the different approaches of 3 robo-advisors: Betterment, Personal Capital, and Wealthfront.
  • Cachet Financial Solutions prices Initial Public Offering.
  • DoubleBeam's GoPago POS system is enabling Slyde, a mobile commerce beacon-enabled shopping app.
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.

btn3_ov.pngWith summer well underway, it means that fall is just around to corner. And that we're hard at work putting together FinovateFall 2014 which will take place on September 23 & 24 in New York City. 

Last year, FinovateFall welcomed a sold-out crowd of more than 1,100 executives. This fall, based on record-setting interest (and a slightly bigger auditorium at our new venue) we are projecting the largest FinovateFall to date (and another sell out crowd) with over 1,200 fintech innovators in attendance.

In case you're curious, here is a small sample of the great organizations already committed to attend:

  • Adobe
  • American Express
  • Bain Capital
  • Bank of America
  • Bank of Ireland
  • Bank of Montreal
  • Barclays
  • BBVA Compass
  • C1 Bank
  • Capital One
  • CIBC
  • Citi
  • Citi Ventures
  • Discover
  • Equifax
  • Everbank
  • Experian
  • FIS Global
  • Forbes
  • Gartner
  • IBM
  • Jack Henry
  • Liberty Mutual
  • MassMutual
  • MasterCard
  • MACU
  • New York Life
  • Nordea
  • Oliver Wyman
  • Paypal
  • Primerica
  • PwC
  • QED Investors
  • RBC
  • Rockland Trust
  • Route 66 Ventures
  • S&P Capital IQ
  • SAP
  • Saxo Bank
  • Sberbank VC
  • Scottrade
  • Silicon Valley Bank
  • SixThirty
  • Societe Generale
  • Sony
  • Swedbank
  • Tangerine Bank
  • TD Ameritrade
  • The Huffington Post
  • The Principal
  • Umpqua Bank
  • USAA
  • Venrock
  • Wells Fargo
  • Yankee Group
  • Zions Bank
  • And many more!

If you're interested in attending FinovateFall to watch the future of fintech unfold live on stage, tickets are now on sale at the very early-bird price but only through this Friday. Please get yours today to lock in the savings and your seat before we sell out!

We'll see you in New York in September (or in San Francisco for FinDEVr)!

FinovateFall 2014 is sponsored by: The Bancorp, CapitalSource, Financial Technology Partners, Greater St. Louis Financial Forum, Hudson Cook LLP, Life.SREDA, UK Trade & Investment, Visa

FinovateFall 2014 is partners with: Aite, ABA, Bank Innovators Council, BankersHub, Bobsguide, California Bankers Association, Canada, Celent, Filene Research Institute, Hotwire PR, Javelin Strategy, Mercator, NYPAY, Payment Week, The Paypers, SME Finance Forum, & Visible Banking

Loop_logo.jpg

Late last month, mobile payments platform company LoopPay released its ChargeCase, a battery case for iPhone 5 and 5s.

Now, two weeks later, the Massachusetts-based company has announced it received an undisclosed amount of funding from Synchrony Financial. This adds to the $10 million in Series A funding LoopPay raised last November from Beta Fund.

Under this strategic investment, LoopPay will provide Synchrony Financial with special features and benefits to provide greater convenience and utility to its cardholders and retail partners.

LoopPayIMG

LoopPay uses Magnetic Secure Transmission (MST) to enable a contactless payment experience in which customers use LoopPay's ChargeCase and Fob Button Pay devices to pay at a merchant's existing credit card swipe reader.

To see LoopPay demonstrate its MST technology live, check out its FinovateSpring 2014 demo.

Alumni News-- July 9, 2014

  • Finovate-F-Logo.jpgBank Systems & Technology: Consumers CU Expands National Footprint with Andera's Online Account Opening Solution.
  • Lendio launches free version of prospect mgmt software, Pipeline, for the business loan process.
  • Encap Security joins the Fast Identity Online (FIDO) Alliance to change the nature of online authentication by reducing reliance on passwords.
  • LendAcademy takes a look at $146 million in new loan originations in June for Prosper.
  • And speaking of Prosper, Altifi.con's This Week in Crowdfunding features Prosper CEO Ron Suber.
  • Rebranded version of Ripple Client, Ripple Trade emerges from two-month soft launch.
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.

Alumni News-- July 8, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTop Image Systems signs agreement to acquire cloud-based banking solutions provider, EGistics.
  • Prestadero raises more than $670K in series B funding round.
  • ACI Worldwide to bring electronic billpay to Southern Auto Finance Company (SAFCo).
  • P2Binvestor crowdlends $2 million line of credit to fellow Finovate alum.
  • Mike Branton of StrategyCorps discusses the "three big threes of checking" in CB Insight.
  • Lending Club facilitates $1 billion of loans in Q2 2014, which brings it to a total of $5 billion since its inception.
  • ReadyForZero announces two new resource centers: Get Out of Debt and Auto Loan Resources.
  • First American Credit Union hires Insuritas to launch insurance agency to build non-cyclical fee income.
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.
Thumbnail image for PRESTADERO_logo.jpg

A week after we published our quarterly alumni funding roundup for Q2 2014, it looks like Q3 is already off to a nice start on the funding front.

At the beginning of the month we shared news of Moven's $8 million funding. And the strides Yodlee is making toward an IPO sooner than later made headlines soon after.

And now today we can add Prestadero to the list of Finovate alums that find themselves in a money-raising mood. The peer-to-peer lender finished its second round of funding by raising $677,000 (8.8 million Mexican pesos).

The investment more than doubles the company's previous total of $400,000 - raised almost a year ago to the week - taking Prestadero's total capital to more than $1.7 million (more than 13.8 million Mexican pesos).
Prestadero_homepage
Specific investors in this round were not disclosed, but the company referred to the contributors in a statement as "international leaders in the financial services sector in Mexico and abroad."

Prestadero will use the additional capital to add new functionality to its platform, and to accelerate growth.

Stats:
  • Founded in 2011
  • Headquartered in Mexico City, Mexico
  • Provides unsecured personal loans ranging from 10,000 to 250,000 Mexican pesos
  • Offers approved borrowers rates ranging from 8.9% to 28.9% annually
  • Offered lenders net annualized returns of 15%
Gerardo Obregón is CEO.

Prestadero demoed its technology at FinovateSpring 2013 in San Francisco. See a video of the company on stage here.

Alumni News-- July 7, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker features Tradeshift in a column on startups innovating in the small business bill pay space.
  • Credit Union Broadcast interviews Greg Ewald, VP of Marketing for Loop.
  • Zighra partners with Toyuma to launch a Kickstarter project to launch PassZweipe, a password manager app.
  • Billhighway to provide automated donation processing for The Michigan Humane Society.
  • Open Bank Project organizing Hack/Make The Bank hackathon in Berlin. Check out more builder tools at FinDEVr this Fall.
  • Bill.com, ZenPayroll, and Expensify earn spots Sqrl blog's list of 39 apps you didn't know could grow your business.
  • Narrative Science's Kris Hammond is featured in Business Insider's Technology section.
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.

Alumni News-- July 3, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMisys launches new, modular core banking solution, FusionBanking Essence.
  • MicroStrategy, TIBCO listed among 16 most significant business intelligence software vendors in new Forrester report.
  • The New York Times Business Day interviews Adam Nash, CEO of Weathfront.
  • Wired Money startup pitch competition features Finvoate alums CurrencyTransfer and eToro.
  • Facebook chooses Braintree as sole payments provider for its FbStart program.
  • Tradeshift makes CPO Rising's 2014 Hot Tech Prospect list.
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.
Thumbnail image for emidalogo3.jpg

Just in time for the second half of 2014, Emida's Android POS app is ready for launch.

Traci Jones, VP of Global Product Development said, "We know through our 20 years of experience that we excel in prepaid technology simply because we understand the needs of our partners, worldwide."

The new Android app is optimized for both Android smartphones and tablets, and provides much of the same functionality as Emida's POS terminals. The app is available to all of Emida's U.S. partners.
Emida_homepage_new
Emida maintains an international network that allows carriers, service providers, merchants, retailers and others to offer prepaid products to their customers via standard POS terminals. These prepaid products and services range from wireless and long distance, to bill pay and lottery, to stored value card and international top-up.

Take a look at a handful of Emida metrics:
  • Headquartered in Foothill Ranch, California
  • Operates in 37 countries worldwide
  • Supports network with more than 54,000 retail points
  • Network annual dollar payment volume of more than $1.5 billion
  • Network processes more than 240 million annual payment transactions
David Kirtman is CEO.

Emida demoed its technology as part of the FinovateFall 2012 conference in New York. See the company in action here.
Thumbnail image for YodleeLogo2012.jpgEarlier this year, we were thrilled to announce the first company to go public as a Finovate alum, Q2.

This week we learn that another alum, Yodlee, is taking the IPO plunge, as well.

With a goal of raising $75 million, Yodlee has filed its S-1 with the Securities and Exchange Commission, indicating its intention to become a public entity.
Yodlee_homepage_new
According to The Silicon Valley Business Journal, Yodlee plans to list on the Nasdaq stock exchange under the ticker symbol, YDLE.

Yodlee is one of the engines powering a variety of digital and mobile technologies in the fintech space, from digital wallets to PFM solutions. The company's account aggregation abilities and vast collection of transactional data from consumers and businesses are widely sought after by startups and established companies alike.

A few metrics about Yodlee shared in the S-1:
  • More than 750 organizations in more than 10 countries use Yodlee's platform
  • More than half of the 15 largest banks in the United States are Yodlee customers
  • More than 100 million end users reached by Yodlee technology via the company's network of partners
  • More than 15 million paid users as of the March 31, 2014
  • Revenues in 2013 grew 21% to more than $70 million
  • Revenues during the first three months of 2014 grew 34% to more than $19 million
  • Net loss of $1.2 million for the year ended December 31, 2013
  • EBITDA of $4.7 million for the year ended December 31, 2013
  • EBITDA of $885,000 for the three months ending March 31, 2014
Yodlee is a three time Best of Show winner, having taken home trophies after demos at Finovate 2009, FinovateFall 2013, and FinovateAsia 2013. Founded in 1999 and headquartered in Redwood City, California, Yodlee recently announced partnerships with Startupbootcamp, 25fifteen, and Entrepreneurial Spark. Anil Arora is Yodlee's president and CEO.

Alumni News-- July 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSafetyPay announces partnership with Alpha Payments Cloud.
  • Reuters Insider interviews Igor Gonta, CEO of Market Prophit.
  • Q2 partners with Easy Solutions to bring multi-factor authentication to FIs.
  • Yodlee files for initial public offering; seeks to raise $75 million.
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.
Thumbnail image for Q2logoNew.jpg

Courtesy of a new partnership between Q2 and Easy Solutions, more than 340 financial institutions will now have access to a suite of omni-channel fraud prevention solutions.

Integrating Easy Solutions' Total Fraud Protection Platform will give banks and credit unions are Q2's virtual banking technology additional protection against attacks including phishing, farming, malware, Man-in-the-Middle and Main-in-the-Browser.

Jay McLaughlin, chief security officer and senior VP of Q2 said, "Security and fraud protection are crucial pieces of what customers depend on us to provide." Added VP of Worldwide Sales at Easy Solutions, Alberto Arango, "Q2 is an innovator and has seen impressive growth in acceptance of its platforms, delivering virtual banking to more than 3.5 million retail an commercial users."
Q2_homepage_new
Q2 is an innovator in the field of cloud-based virtual banking. The technology company specializes in providing solutions for community banks, regional banks, and credit unions. the company was most recently in the press announcing a handful of deployments at financial institutions like First Financial Bank and Urban Partnership Bank.

Founded in 2005 and headquartered in Austin, Texas, the company launched an initial public offering in March, and trades on the NASDAQ under the ticker, QTWO. Matthew Flake is CEO.

A few metrics on Q2:
  • Revenue growth of 51% in 2013
  • Market capitalization of more than $495 million
  • Trailing 12-month revenue (as of March 31, 2014) of more than $60 million
Q2 demoed its Risk & Fraud Analytics solution at FinovateSpring 2011 in San Francisco. See the company's demo here.
Thumbnail image for MovenLogoNew.jpg

Growing the business and expanding offshore are now possible thanks to the $8 million (£4.7 million) in funding just raised by Moven.

Leading the series A round was SBT Venture Capital. Among those also participating were: 

  • Anthemis Group
  • New York Angels
  • Route 66 Ventures
  • Standard Bank
Additional unnamed angel investors were also involved in the round. This latest investment takes Moven's total capital to more than $12 million.

Moven founder and CEO Brett King broke the news at the Wired Money conference on Tuesday. And as reported in Wired UK, Moven will also be announcing two major partnerships, one in Canada and one in New Zealand, that Brett believes will help take the company closer to its 10 million app download goal.
Moven_homepage_July14
Moven helps consumers better control their spending and manage their finances without traditional budgeting. What is compelling is the way Moven tracks not just whether spending is above or below trend, but also where the extra spending is coming from. This gives users a great deal of insight, as well as a lot of control over spending and saving. Moven's technology includes a mobile app, a debit card, and a contactless sticker.

Moven emerged from beta this spring after receiving more than 100,000 invite requests from eager, would-be early adopters. Shortly afterward, the company announced that it had partnered with fellow Finovate alum, MoneyDesktop, to make it easier for Moven users to aggregate their outside accounts. 

Moven was founded in March 2011, and is headquartered in New York City.

Winner of a Best of Show award for their demo at FinovateEurope 2013, Moven was last on the Finovate stage for FinovateSpring 2013 in San Francisco. See a demo of the company in action here.

Alumni News-- July 1, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgPuget Sound Business Journal profiles Doxo co-founder and CEO, Steve Shivers.
  • Techcrunch column on the "un-banking of America" highlights a dozen Finovate alums.
  • Mentors International deploying Mambu's cloud banking platform.
  • Finovate alums raise more than $600 million for second quarter in a row.
  • People's Trust Federal Credit Union teams up with Insuritas to provide insurance solutions for its 26,000 members.
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.
Thumbnail image for FinovateFundingIMG.jpg

In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it's clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln's $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I'm talking about you, Holvi, RevolutionCredit, and Tuition.io), we're confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.

How does this compare with the less recent past? Very well, indeed. 

In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 

Total raised for Q2 2014 = $594 million

April -- $217 million raised by 11 companies
May --  $226 million raised by 11 companies
June -- $151 million raised by six companies

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@Finovate.com or Julie@Finovate.com

Alumni News-- June 30, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBBVA announces partnership with Visa to bring host card emulation (HCE) functionality for contactless payments for its Wallet app.
  • Teachers Federal Credit Union ($4.9 billion in assets) to deploy Fiserv DNA platform.
  • Monitise on the Move: Helping Banks Enable Commerce.
  • Lending Club moves closer toward an initial public offering.
  • ID.me's partnership with Overstock.com to add first responders.
  • Millionaire Corner features Nutmeg and FutureAdvisor as examples of "productive and easy" online investing.
  • Free Enterprise interviews Betterment CEO Jon Stein.
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.
Thumbnail image for MonitiseLogo2.jpg

How does a technology company like Monitise help banks and financial institutions provide more value for their customers?

I spoke with Marc Winitz, SVP for marketing at Monitise, during a break at the Digital Banking Summit in Los Angeles earlier this month. And the answers he provided told me a great deal about where banks - and banking technology - are likely headed in the years to come.

Marc_Winitz_MonitiseSVP
Much of the current focus, he said, is on payments. The problem is that the payments business is pretty well-established. What banks and FIs should consider instead is how to add value at the "discovery" part of the transaction rather than at the "settlement" part of the transaction. In other words, being a significant factor at the beginning of the process rather than at the end.

The Peri mobile shopping app that Monitise developed and is being piloted by U.S. Bancorp is an excellent example of bringing banking and e-commerce closer together. Peri works by accessing the digital signatures embedded inside a growing amount of media - from television advertisements to print copy. With the Peri app, consumers can essentially recreate the online shopping experience while watching a TV commercial or reading an ad in a magazine. 

Peri_Monitise_app
When the app reads the digital signature of the item of interest, the item appears in the app. The actual purchase is quick and efficient since the consumer's purchasing information (name, address, credit card number, etc.) is already on file at the bank.

The technology is likely to be white-labeled and made available to companies and brands. Importantly, however, it is an example of the kind of technology that helps put banks at the forefront of an area - ecommerce - that has more or less left traditional banking behind.

What's interesting about this approach is how it serves both the retailer's interest in minimizing the "discovery" period (i.e., less "shopping" and more "buying"), as well as the bank or financial institution's interest in being a bigger part of the e-commerce experience.

And as far as Marc is concerned, banking apps like these are an important way to go. "They feature a front-screen engagement opportunity," he explained. "They yield personal insights (into consumer behavior), and have a funding source/transaction/wallet component."

Monitse Metrics
  • Founded in 2003
  • Provides services to more than 350 financial institutions and brands worldwide
  • Has 28 million users and strategic partnerships
  • Processes 3.4 billion mobile transactions a year valued at $71 billion
  • Operates in the UK, the United States, India, Hong Kong, and Indonesia
  • Trades on the London Stock Exchange (LSE: MONI)
  • Led by co-CEOs Alastair Lukies (Monitise plc) and Elizabeth Buse (Monitise Group)
But there is a big question as to whether banks are situated in the right position to do what needs to be done to reinvigorate the industry. On the one hand, banks continue to earn a great deal of trust from their customers. This gives banks both the credibility and the "room to fail" that is critical when embarking upon new initiatives and ventures.
Monitise_homepage_mobileapp
On the other hand, the challenge is that banks are no longer simply measured by their own performance vis-a-vis other banks. It's not just the rise of non-bank actors, significant as that is. The move toward an omni-channel experience provides a whole new way for consumer experience to be judged (and for those judgements to be shared via social media). So now a consumer's "banking experience" ends up being compared to a consumer's "Amazon shopping experience" or a consumer's "Apple Store shopping experience." And if that doesn't seem like a tall order for the average bank, then you are fortunate to be a customer of a far more, forward-looking bank than the rest of us.

According to Marc, banks need to first re-imagine how they do business, then see what technology is necessary in order to provide that business via a compelling user interface and experience. And the fact of the matter is that for many banks, choosing a technology partner is the most efficient way to make that happen. 

Marc pointed out that mobile banking started with many banks, probably too many, thinking they could do it all by themselves. "Banks should do what they do best," he said. "Don't try and pick a gift card company. Let us do it." 

Monitise Milestones (2014)
  • Acquired Markco Media for up to £55 million ($93.5 million)
  • Launched mobile app design arm, Monitise Create, in North America
  • Added former Visa executive Elizabeth Buse as co-CEO
  • Announced mobile banking platform deployment by Desert Schools FCU
  • Offered mobile alerting software as standalone product
  • Acquired Pozitron in all-share deal worth $100 million
Who gets it? The largest banks, the top 20 Marc said, are making the right moves. "They've got all the money in the world to spend." It's the next tier of banks and FIs that have the greater challenge. This includes institutions like Desert Schools Federal Credit Union, the largest credit union in Arizona ($3 billion in assets; 320,000 members), that recently adopted Monitise's Vantage 5.1 platform this spring

The ability to conduct modular upgrades on the platform, Marc said, prevents a strain on budgets and IT resources. And this is a good thing not just for the bottom line of these mid-tier banks, but for the teamwork necessary to make mobile transitions work. "The whole team must be involved when it comes to something like mobile," Marc said.

Alumni News-- June 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMatchi announces signing sponsorship agreement with Standard Bank Group.
  • Intuit's PayByCoin integrates Quickbooks Online with Coinbase to allow merchants to accept bitcoin.
  • RevolutionCredit is among six startups presenting at the 2014 FinTech Innovation Lab in New York.
  • Trustly partners with PayPal to facilitate direct payments for online bank customers in Sweden and Denmark.
  • Acculynk joins with Navicure to offer payment platform for healthcare providers.
  • 500 Startups teams up with SeedInvest to raise money for $100 million Fund III.
  • A review of digital ID technology by the Economist includes a nod toward miiCard.
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.
View Previous Entries

Watch Demos

Click above for video archives of all demos.

 

Twitter


See all Finovate tweets