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Finovate Alumni News-- April 23, 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.jpgNous launches two-month pilot program with Hong Kong hedge fund. Launched at FinovateEurope in February, Nous' Spark Profit has 25,000 registered users in 194 countries.
  • Heritage Bank of Nevada to deploy Fiserv's deposit reclassification solution, ReserveLink.
  • AmeriServ signs real-time account processing agreement with FIS to deploy TrustDesk.
  • TSYS to discontinue operations in Japan after almost 14 years.
  • Billhighway & RallyBound partner to make multi-channel fundraising a reality for nonprofits.
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.

Finovate Alumni News-- April 22, 2014

  • ACI Worldwide joins electronic payments standards organization, EPASOrg, as a principal member.
  • Taulia named to 2014 Best Places to Work in the Bay Area List.
  • Silicon Slopes features MoneyDesktop's recruiting efforts.
  • Kapitall launches Klub Kapitall loyalty program with reduced live trading commissions.
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.

While the presenting companies are using the final week before FinovateSpring to place the finishing touches on their demos, you can use the time to connect with fellow attendees.

This year, we're using Bizzabo to give you an easy way to connect with other attendees.

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To check it out, search Bizzabo in the Apple App store or Google Play store. After you've downloaded the app, type Finovate into the search bar, sign in, and click the green Join the Community button.

What else can you do with the app?

    • View others in the FinovateSpring 2014 community and mark them as leads
    • Access the agenda and add items to your calendar
    • Check out LinkedIn profiles of speakers
    • Get more information on demoing companies (accessed through the Partners tab on the bottom)
Don't have a smartphone or want to view on a larger screen? Check out the web app:


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Questions or problems? Contact us at spring@finovate.com and we'll be happy to help.
  • Finovate-F-Logo.jpgCustomerXPs launches Clari5 Sherlock, which fights multichannel banking frauds with big data analytics.
  • Roostify's solution highlighted in Secondary Marketing Executive article "The Promise Of The E-Mortgage." Come see Roostify demo live at FinovateSpring next week.
  • TSYS company NetSpend to develop co-branded prepaid card with Western Union.
  • Locaid to bring location-based services to U.S. Cellular.
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.

  • Finovate-F-Logo.jpgTuition.io brings in funding, surpasses $1 billion in loans under management.
  • eWeek talks to Pindrop Security about scams during tax season.
  • PYMNTS.com chats with miiCard CEO James Varga about identity theft.
  • Financial Samurai interviews FutureAdvisor CEO, Bo Lu.
  • Lending Club raises $115 million in debt and equity; acquires Springstone Financial.
  • Kabbage blog features Expensify in its list of the 10 best mobile apps for small businesses.
  • MasterCard to acquire APAC-region loyalty and rewards provider, Pinpoint.
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.

You've already picked up your FinovateSpring ticket, looked at the full lineup of companies that will demo, and even done your homework by scoping out the entire, 6-part FinovateSpring Sneak Peek series.

What's next? Now you can check out the word cloud (click to enlarge) that illustrates the titles of everyone who will be in attendance at FinovateSpring.

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We'll see you in San Jose!

FinovateSpring 2014 is sponsored by: The Bancorp, Capital Source, Financial Technology Partners, Hudson Cook, KPMG, Life.SREDA, UK Trade & Investment, Visa, Xignite and Zions Direct.

FinovateSpring 2014 is partners with: Aite Group, ABA, Bank Innovators CouncilBankersHub, BayPay Forum, California Bankers Association, Fin-Tech.org, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance ForumVisible Banking, & Western Independent Bankers.

TuitionioLogo.jpg

It's been no secret lately that the student loan system is broken. Student loan management platform Tuition.io, who we saw on stage at FinovateFall two years ago, is seeking to help out borrowers and has quickly gained traction.

As proof, the company announced today it received an undisclosed amount of funding from Raj Date through advisory and investment firm, Fenway Summer. Contributors to the California-based startup's 2013 seed round include:

    • Mohr Davidow Ventures
    • MESA+
    • Rob Glaser
    • Richard Wolpert
    • Neu Venture Capital
    • Launchpad LA
    • Rothenberg Ventures
    • Atom Factory
    • AF Square, LLC
TuitionNewHomepage.jpg

In addition to this news, it also announced it's managing $1 billion in loans on its platform. This is up two-fold from just one year ago. When we interviewed CEO Brendon McQueen in April of last year, he reported the platform had $500 million under management.

Check out the live demo of Tuition.io's platform from FinovateFall 2012.

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News that Lending Club has raised $115 million in debt and equity is a reminder that alternative lenders continue to be a magnet for venture capital.

The equity stake totals $65 million, and comes courtesy of BlackRock, Sands Capital, T. Rowe Price Associates, and Wellington Management Company. This boosts the company's total capital raised to more than $280 million.

Lending Club also announced that it was acquiring Springstone Financial in a cash and stock deal worth $140 million. Springstone specializes in providing financing for medical patients and for medical professionals looking to fund their continuing education.

Moving into medical financing is apparently part of Lending Club's overall strategy for growth. Last month, the company announced that it was moving into small business lending, challenging incumbents like Kabbage, CAN Capital, and OnDeck. The company has also begun selling loans to community banks, announcing agreements with seven small banks last December.

Lending Club has doubled its annual loan volume every year, and has paid more than $300 million in interest to its investors. The company reported surpassing the $3 billion loans originated mark at the end of 2013.

In the top five of Forbes' "Most Promising Companies" roster for 2014, long-time Finovate alum (StartUp 2007) Lending Club was founded in 2006 and is based in San Francisco. Renaud Laplanche is CEO.

Finovate Alumni News-- April 17, 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.jpgFinovate alums earn spots on Fast Company's Top 10 Most Innovative in Finance.
  • Qapital featured in Finextra and TechCrunch profiiles. See Qapital demo at FinovateSpring in San Jose, April 29 and 30.
  • Temenos appoints Martin Frick to head APAC.
  • News BTC reports: SecondMarket Welcomes Investors Seeking to Trade 25 BTC Or Greater.
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.
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FinovateSpring 2014 is less than two weeks away, and the excitement is building! More and more tickets are selling with every passing hour and on April 29 & 30, we're expecting to break Finovate's attendance record for the second year in a row with an audience of over 1,400 industry professionals and entrepreneurs.

You've probably already seen a few of the companies presenting at FinovateSpring this year, but a bunch of presenters just came out of stealth mode on Friday to complete the lineup. So, without further ado, here's the full lineup of 68 companies that will demo their latest fintech innovations in the heart of Silicon Valley in less than 14 days:

  • Artivest
  • Avoka
  • BodeTree
  • ChiaraMail
  • Coinbase
  • CREALOGIX
  • CUneXus
  • D3 Banking
  • Dealstruck
  • defi SOLUTIONS
  • Digital Insight
  • Digital Retail Apps
  • Encap Security
  • Endeavour
  • EyeVerify
  • FinBuddy
  • Fiserv
  • FlexScore
  • ID.me
  • Insuritas
  • IntelliResponse
  • Interactions
  • Jumio
  • Kofax
  • Kown
  • Kreditech
  • LendingRobot
  • LendingTree
  • LendUp
  • Loop
  • LOYAL3
  • Market Prophit
  • Motif Investing
  • MShift
  • Nearex
  • NICE Systems
  • OnBudget
  • Ondot Systems
  • Pellucid Analytics
  • Personal Capital
  • Pixeliris
  • Privatbank
  • Qapital
  • Quisk
  • Radius
  • RealtyMogul
  • Red Giant
  • Rippleshot
  • Roostify
  • SaveUp
  • SmartAsset
  • Spreedly
  • Stockpile
  • StrategyCorps
  • Sureify
  • Tactile Finance
  • TD Ameritrade & LikeFolio
  • TextPower
  • True Link
  • Venovate
  • Verde International
  • Visible Equity
  • Vorstack
  • WePay
  • Wipit
  • Yseop
  • ZenPayroll
  • Zumigo

Please don't delay! Tickets are selling fast and space is limited so please be sure to register now to make sure you get a seat!

FinovateSpring 2014 is sponsored by: The Bancorp, Capital Source, Financial Technology Partners, Hudson Cook, KPMG, Life.SREDA, UK Trade & Investment, Visa, Xignite and Zions Direct.

FinovateSpring 2014 is partners with: Aite Group, ABA, Bank Innovators CouncilBankersHub, BayPay Forum, California Bankers Association, Fin-Tech.org, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance ForumVisible Banking, & Western Independent Bankers.

TransferwiseLogoNew.jpg

In the eleven months since May 2013, TransferWise has seen its cumulative total volume of cash transferred cross-border climb from just over £100 million to £1 billion.

Based in London, TransferWise provides peer-to-peer money transfer services in more than 175 different currencies. The platform works by connecting people looking to transfer money from Country A to Country B, with people looking to make the exact opposite transfer.

TransferWise has raised more than $7 million since its founding in 2010. The lion's share of the capital has come from a Series A round almost a year ago led by PayPal co-founder Peter Thiel's Valar Ventures.

Said TransferWise co-founder Taavet Hinrikus of the newly-reached milestone: "it shows how much people need modern financial services - something where it is modern, fast and cheap."

Speaking of modern, fast and cheap, TransferWise is also announcing the launch of its Android app. Said Hinrikus, "there is much more that money on mobile should mean to people and ways they can be in control."

The latest news from TransferWise shows how the currency transfer business has heated up. Companies like CurrencyFair and Azimo, both Finovate alums also, have announced reaching significant milestones or raising significant VC capital in recent weeks, as well. And now, even more attention is being paid to companies like these as potential partnership with Facebook, should the social networking innovator act on rumors that it is getting into the money transfer game.

TransferWise demoed its technology as part of the FinovateEurope show in 2013. See the company in action here.
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Who knew? More than half of the world's top 10 most innovative companies in finance are Finovate alums.

Don't just take our word for it. Fast Company published its roster of innovation in the financial space as part of their quest to find those companies that are "creating radical new approaches to move cash from one place to another." 

And among such widely-known and talked-about entities as Square and Bitcoin, we find more than a handful of innovators who have used the Finovate stage to help show their technology to the world.

Take a look at the companies below, accompanied by Fast Company's take on just what makes each innovator truly unique.

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Fast Company: "For connecting banks and other clients to frazzled end users when problems arise."



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Fast Company: "For daring to take on the fee-laden credit card establishment."


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Fast Company: "For slashing pesky foreign-exchange costs by creating a transparent peer-to-peer network."



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Fast Company: "For establishing a single login for web users and taking a giant leap toward eradicating the scourge of the Internet: passwords."


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Fast Company: "For luring international customers with a mobile-payment network that lets them purchase with a simple click."





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#10 eToro
Fast Company: "For creating a social network that lets traders emulate those with skin in the game."

Finovate Alumni News-- April 16, 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.jpgWhere the Alums Are: A Remembrance of FinovateSpring Past. Read what the innovators of FinovateSpring 2013 have been up to in the year since.
  • Betterment raises $32 million in Series C round.
  • Realty Mogul crowdfunds Hard Rock Hotel Palm Springs.
  • Partnership with Clearly Loans brings Nostrum Group into the secured loan processing business.
  • Credit Sesame launches free credit and identity protection service.
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.
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It is hard to believe that it is almost time for FinovateSpring 2014.

There's still plenty of time for you to get your tickets to our upcoming event in San Jose, California on April 29 and 30. Our final Sneak Peek preview post is up, all the companies who were prepping under the radar are now out of stealth, and we can't wait for you to see what this year's spring crop of fintech entrepreneurs and innovators has in store.

Before we do, however, let's take a moment to take a look back at last year's FinovateSpring alums. As we scrolled through blog archives, several themes jumped out: the appetite for startups remains as passionate as ever, with three of our Spring 2013 alums being acquired by such financial sector potentates as Intuit and PayPal. And venture capitalists continue to see innovation in this space as a more than worthwhile investment, with 20 separate fundings for Spring 2013 alums

We've grouped the achievements into four categories: Exits, Fundings, Awards, and Acquisitions. Enjoy!



EXITS

  • Jack Henry buys Banno for undisclosed sum
  • The rumors are true: eBay's PayPal acquires Braintree for $800 million in cash
  • Intuit buys tax planning/preparation specialist GoodApril
  • TaxAct acquires Balance Financial
FUNDINGS

  • CardFlight secures $1.6 million in seed funding from ff Venture Capital
  • Encap earns seven-figure investment from ProVenture Seed
  • EyeVerify earns $2.3 million in Series A funding
  • Jemstep raises $4.5 million in Series A round
  • Kabbage brings in $270 million in debt financing to provide small businesses with funding of their own
  • Kabbage brings in $75 MIllion in debt financing
  • Leaf raises $20 million from Heartland Payment Systems
  • Alternative lender LendUp raises $14 million in new funding
  • D3 Banking creator Lodo Software Brings in $3 million
  • Narrative Science secures $11.5 million in Series C funding
  • OpenCoin wins investment from Google Ventures, IDG Capital Partners
  • P2BInvestor raises $1.2 million in Series A round
  • PayNearMe leverages Family Dollar Partnership; raises $20 million
  • PayNearMe raises $10 million in Series D funding, launches Express Merchant Onboarding Option
  • Prestadero raises 5 million pesos ($400,000 USD) in first round of funding
  • Quantopian raises $6.7 million in Series A round
  • Realty Mogul raises $9 million in round led by Canaan Partners
  • SeedInvest raises $2 million in crowdfunded investment campaign
  • SeedInvest Raises $1 million in round Led by Jumpstart New Jersey Angel Network
  • Zooz Closes $2 million Series A round Led by XSeed Capital
AWARDS

ACQUISITONS

  • OpenCoin acquires SimpleHoney
  • Kofax acquires data integration software provider Kapow Technologies
  • NICE to acquire Causata to enhance customer experience management

Most of us know April 15 as Tax Day, but for three Finovate alums, today is about a different flow of money than a tax return. Aside from Betterment's announcement of its $32 million round (see our post from this morning), LearnVest pulled in $28 million in Series D funding, while The Currency Cloud garnered $10 million in Series B.

LearnVEstlogo.jpg

LearnVest, a personal financial management and planning platform and service

    • New funding: $28 million Series D
    • Investors: Northwestern Mutual Capital, Accel Partners, and American Express Ventures
    • Total Funding: $69 million
    • Founded: 2007
    • Headquarters: New York, NY

LearnVest will use the funding to boost hiring efforts at its Arizona-based Expert Hub and to scale its LearnVest at Work channel, which won Best of Show at FinovateFall 2013.

Check out its Best of Show-winning FinovateFall 2013 demo video:

LearnVest.jpg
CurrencyCloudLogoFEU14.jpg
The Currency Cloud, a company that powers international payments with its API that enables secure, global payments

    • New funding: $10 million
    • Investors: Atlas Venture, Anthem Venture Partners, Notion Capital, XAnge Private Equity, Silicon Valley Bank
    • Total funding: $17 million
    • Founded: 2012
    • Headquarters: London

The Currency Cloud will use the funding to expand its focus on the UK and Europe to a more international realm, specifically into the the U.S.

Check out The Currency Cloud's demo from FinovateEurope 2014, where it debuted its new e-wallet functionality and user interface.

Thumbnail image for BettermentLogo8.25.jpg

In a funding round that more than tripled the amount raised in its previous round, wealth management innovator Betterment raised $32 million from a sizable group of both new and existing investors.

Betterment's total capital now stands at $45 million. Participating in this latest round were:

  • Anthemis Group
  • Bessemer Venture Partners
  • Citi Ventures
  • Globespan Capital Partners
  • Menlo Ventures
  • Northwestern Mutual Capital
Among the goals for the new capital cited by Betterment CEO Jon Stein is expanding the company's range of products. This likely includes a new product for RIAs, Betterment Institutional, that the company plans to release soon.

In an interview with Forbes.com, Betterment CEO Jon Stein said he expects his company to have more than $1 billion under management by the end of 2014. Betterment currently has about half that amount under management right now, and Stein says that AUM is growing at a rate of 10% a month.

Betterment works by investing its customers in low-cost, index exchange-traded funds. With investments ranging from short-term U.S. Treasury bonds to stocks from emerging market countries, investors can achieve broad diversification without single-stock or liquidity risks. Asset allocation is personalized based on the short or long-term goals of the individual investor.

The company stresses that its goal is not to beat the market on a risk-adjusted basis. Instead Betterment practices "passive investing," looking to deliver market returns at a reasonable price that is lower than that offered by traditional investment managers.

Betterment has no minimum investment or minimum account balance, though account balance is a factor in determining pricing. The company charges a management fee ranging between 0.15% and 0.35% that covers everything from trades to advisory service. The company has 30,000 customers, with an average age of 36. However, 20% of Betterment's customers are over the age of 50.

Founded in 2008 and based in New York City, Betterment was a Best of Show winner at FinovateFall 2010. See a demo of their presentation here

Finovate Alumni News-- April 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.jpgTransferWise announces more than $1 billion in P2P transfers.
  • Insuritas picked by Nutmeg State Federal Credit Union to open and manage its turnkey insurance agency. See Insuritas demo at FinovateSpring in San Jose.
  • Streetwise reports: HelloWallet Signs Another Big Deal with Aon Hewitt.
  • CardFlight wins Electronic Transactions Association's 2014 Technology Innovation Award.
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.
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Crowdfunder, fund thyself.

That's the strategy of crowd funding specialist, SeedInvest, which announced today that it is seeking to raise the balance of its $3 million Series A round from its own community of investors.

SeedInvest co-founder and CEO Ryan Feit explained: "Given that SeedInvest allows individuals to invest alongside VCs, we decided to eat our own dog food and hold the last millions for our own investors."

SeedInvest has $2 million already invested, courtesy of investors such as Archer Gray, Avenue A Ventures, Great Oaks Venture Capital, Krillion Ventures, and Scout Ventures. The company is gearing up to take advantage of a key feature of the JOBS Act that will allow non-accredited investors to participate in crowd funding platforms like SeedInvest later this year. Feit pointed specifically to the new funding as enabling the company to service what he expects to be a significant increase in the number of potential new investors.

An equity crowd funding platform, SeedInvest focuses on directing investors toward startups and small businesses that are seeking funding. Among the companies that have received investment via SeedInvest are Vengo, a POS kiosk for digital media, and CapLinked, a PayPayl-like platform for businesses. SeedInvest was founded in January 2012, and is based in New York City.

SeedInvest demoed its technology at FinovateSpring 2013 in San Francisco. See their video here. And for more information about our upcoming FinovateSpring event, April 29 and 30 in San Jose, visit our FinovateSpring 2014 page.
  • Finovate-F-Logo.jpgPYMNTS looks at how Ripple hopes to build a global payments network.
  • Android Headlines reviews TradeHero.
  • FIS acquires CMSI, provider of consumer loan origination and portfolio management software.
  • CNBC's Squawk on the Street interviews Dashlane CEO Emmanuel Schalit on Heartbleed.
  • SeedInvest raises $2 million in crowd funded investment campaign.
  • Ignite Sales wins 2014 Monarch Award for its Profitability Dashboard for OmniChannel Measurement.
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.

Finovate Alumni News-- April 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.jpgFinovateSpring 2014 Sneak Peek: Part 6 is now up.
  • Jumio partners with IdentityMind to provide anti-money-laundering Bitcoin compliance for exchanges.
  • FIS launches GenNOW to make it easier for mobile and prepaid card users to access their funds from FIs.
  • Aon Hewitt and HelloWallet partner to help employers bring financial wellness to their workforce.
  • PayPal partners with Samsung to enable users to pay with their fingerprint, launches app for smartwatches.
  • Blackhawk Network recognized for Best Prepaid Innovation at Innovation Project 2014 conference awards.
  • CU Times looks at Citizens Business Bank's success with Guardian Analytics' fraud prevention tools.
  • App Developer Magazine looks at Lighter Capital's RevenueLoan.
  • Birdback and Affiliate Window bring the ease of online offers to offline retailers based in Europe.
  • Betterment's mobile app makes mobile PIN login available for users.
  • Bill.com wins Monarch Innovation Award in Innovative Industry Partner category.
  • BizJournals profiles Kabbage co-founder and COO, Kathryn Petralia.
  • American Express Open Forum takes a look at ZenPayroll. See them demo at FinovateSpring in San Jose.
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.

FinovateSpring 2014 Sneak Peek: Part 6

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Welcome to the finale of our FinovateSpring 2014 Sneak Peek series. If you're just joining us, then you might want to check out the previous five installments of our Sneak Peek (see below). There's no better way to get to know the entrepreneurs and innovators who will be demoing on the Finovate stage on April 29 and 30 in San Jose.

You can find out more about our upcoming event - including our new location and locale - on our FinovateSpring 2014 page here.

Today we wrap up the series with eight more companies, starting with transaction management specialist Avoka and ending with WePay, an innovator in risk analysis for merchants, crowdfunders, and software makers. In between, we'll talk security and digital currencies, alternative lending and credit decisioning, credit card vaults and Insurance Buying 3.0.

Enjoy!



Avoka_lo_res_logo

Avoka TransactWEB - an Omni-Channel 2.0 customer transaction experience form the leaders in SmartForm & Transaction Management.

Features:
  • Omni-Channel 2.0 - Seamless crossover between channels in a single transaction
  • Integration with ID verification and signature services for maximum convenience
  • All delivered without programming
Why it's great:
Avoka TransactWEB delivers an Omni-Channel 2.0 experience for account opening, loan origination, etc. without programming.

Presenters:

Phil Copeland, CEO and Co-Founder
Phil is responsible for the company's business strategy and worldwide operations.

Jeff Kalicki, Account Manager
Jeff is comfortable presenting technology to all levels of business, as well as leading architecture discussions.


Coinbase_lo_res_logo

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.

Features:
  • The ability to debit customers for a more convenient checkout experience
  • The ability to set individualized merchant permission controls via API keys
  • The ability to use recurring billing
Why it's great:
Coinbase offers innovative tools that allow merchants to accept bitcoin payments easily and securely.

Presenters:

Roger Gu, Business Development Manager
Roger leads payment partnerships at Coinbase. He previously worked in Strategy and Development at Visa and in Investment Banking at Marcum Cronus. Roger holds an A.B. in Economics from Princeton.

Nahid Samsami, Business Development Manager
Nahid previously worked as a senior product manager at Playdom, acquired by Disney Interactive. She began her career at Bain and Company and holds a degree in Economics from Stanford University.


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CUneXus' unique lending platform integrates at all digital and physical touch points, delivering an omnichannel borrowing experience, proven to significantly increase loan volume and reduce acquisition cost.

Features:
  • Customers can easily access loans anytime, anywhere - with no loan application
  • Lenders enjoy increased product penetration, loan volume, and ROI
  • Simple integration with online and mobile banking
Why it's great:
CUneXus helps lenders drive substantial loan volume, by providing customers a refreshingly simple on-demand borrowing experience across traditional, online, and mobile banking channels.

Presenters:

Dave Buerger, Co-Founder and President
Dave is a finance and marketing visionary who has been recognized by CUNA and CUES for award-winning strategies that have yielded record loan volumes and response rates.

Darin Chong, Co-Founder
Darin is an expert strategist and has been instrumental in the development of the company's Comprehensive Pre-Screened Lending (CPL) strategy.


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OnBudget develops PFM tools, Mobile Apps, and Bank Companion Cards that give banked consumers simple budgeting tools and banks a profitable way to monetize them.

Features:
  • Uniquely profitable prepaid product simplifies banked consumers' budgeting needs
  • Auto learns users' spending habits, suggests budgets
  • Analyzes spending trends, offers insights/savings opps to help users stay on track
Why it's great:
OnBudget's intuitive and interactive solution delights banked consumers by simplifying their budgets. It's a bank companion card that provides real consumer value at no cost to the consumer.

Presenter:

Jim Collas, President and CEO
Jim is a personal computing pioneer with nearly 30 years of senior executive experience in computers, prepaid cards, and consumer markets. He is a successful entrepreneur and visionary leader.


Spreedly_lo_res_logo

Spreedly is the independent credit card vault that works with any PCI end point API. We provide all the benefits of tokenization without gateway lock-in.

Features:
  • Quickly extend your business to non-gateway end point APS's (hotel, ticketing, transportation, restaurants)
  • Automatically update lost/expired cards
  • One integration, 60+ gateways, 70+ countries
Why it's great:
Spreedly gives you all the flexibility of having your own credit card vault without the headache of PCI compliance or building your own integrations.

Presenter:

Justin Benson, CEO
Justin specializes in scaling startups from concept to IPO/acquisition. He's experienced in driving direct revenue and leveraging partnerships to achieve double-digit SaaS revenue growth.


Sureify_lo_res_logo

Sureify educates consumers on their life insurance options, helps them build a plan that's right for them, and take the next steps to get covered.

Features:
  • Learn about life insurance from simple text, visuals, & videos
  • Unbiased, third-party source for life insurance education
  • Define needs and build the right plan for you quickly
Why it's great:
Sureify is the only unbiased, third-party source for life insurance education online.

Presenters:

Dustin Yoder, VP of Business Development
Dustin leads strategy, product and business development. Loves talking with our customers, prospecting all possible channels, and relationship building in every part of our business.

Chris Cichon, Marketing
Chris drives marketing and customer experiences. Loves digital marketing and growth hacking; dabbles in front-end web development.


True_Link_Financial_lo_res_logo

True Link protects vulnerable seniors from predatory marketing and fraud.

Features:
  • Seniors are victims of $100bn/year in scams
  • Seniors are the largest, fastest growing market in the U.S.
  • True Link is the killer app for the 43 million people caring for their aging parents.
Why it's great:
Everyone deserves a safe way to spend their money without having to worry about scams, fraud or spending mishaps.

Presenter:

Kai Stinchcombe, Founder and CEO
Kai is a data scientist and entrepreneur who created the True Link Prepaid Visa Card after discovering that his grandmother was the victim of several credit card frauds.


WePay_lo_res_logo

WePay enables marketplaces, crowdfunding sites, and business software makers to offer payment services to their customers without worry about risk or loss.

Features:
  • WePay's Veda risk engine leverages big data to make better decisions
  • WePay's Innovative Risk API collects risk data from platform partners
  • Veda analyzes social footprint to verify users
Why it's great:
Through its proprietary Veda social risk engine, WePay gives platforms a flexible payment API that provides a great user experience while still taking on all their fraud risk and compliance burdens.

Presenter:

John Canfield, VP Risk Management
John leads all our risk strategy, processes and tactics at WePay. He holds a Masters and Bachelors in Electrical Engineering and Computer Science from MIT and an MBA from Stanford.

Finovate Alumni News-- April 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.jpgBoost Mobile waiving check loading, money transfer fees for its Wipit-powered mobile wallet through September.
  • Banno CEO Wade Arnold wins CEO of the Year award from Technology Association of Iowa.
  • CBS News takes a look at Dynamics' "credit card with a keypad."
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 the presenter roster set for FinovateSpring, we've begun our global search for the financial technology innovations that will be showcased at FinovateFall 2014 on September 23 & 24 in New York City. 

Last year, FinovateFall welcomed a sold-out crowd of more than 1,100 executives who witnessed 69 new fintech innovations debut via our signature demo-only format.

This fall, based on the early interest, we expect the auditorium to be just as packed and to showcase even more great innovations than last year.

If your company is interested in debuting your latest and greatest at the premier event for fintech innovation, please email us at fall@finovate.com for more details.

If you're interested in attending FinovateFall to watch the future of fintech unfold live on stage, tickets are now on sale for the event at the lowest price that we'll offer.

We'll see you in New York in September (or San Francisco in a few weeks)!

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

FinovateFall 2014 is partners with: Aite, ABA, BankersHub, California Bankers Association, Canada, Celent, Filene Research Institute, Hotwire PR, Javelin Strategy, The Paypers, SME Finance Forum, & Visible Banking

KabbageLogo.jpg

Further highlighting Forbes' point that the traditional banker is dead, small business financing company Kabbage announced today it received a revolving, 3-year line of debt financing, totaling $270 million.

The funds, which were provided by Guggenheim Securities, will be used to supply small businesses with working capital, both in the U.S. and internationally.

This new installment comes a year after the Atlanta-based company received $75 million in debt financing from Victory Park Capital and Thomvest Ventures.

Kabbage has seen an increasing demand for small business financing, both for web-based businesses and brick-and-mortar stores. The Wall Street Journal commented on its growth, reporting:

"In the last 15 or so months, default rates have dropped by more than 50%.... while Kabbage's business has grown five-fold. The company aims to provide $1 billion in credit to businesses next year."

Rob Frohwein, CEO, hinted that growth has been so dramatic that the company expects to pull in more financing soon. In an interview with TechCrunch, Frohwein comments on the funding, stating:

"Yes, this is a large facility, but looking at our growth rate, it's something that we will need to look at again in a reasonably short period of time, believe it or not."

To learn more about Kabbage, check out its live demo from FinovateSpring 2013 where it debuted its QuickBooks Financing Platform.

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Add one more bank to the hundreds of financial institutions in more than 20 countries currently relying on CRIF to manage their lending business.

OTP Banka Slovakia announced this week that it was deploying the CRIF Credit Framework, replacing its old loan approval system with a technology that represents "global best practices in lending processes and risk assessment," according to bank CRO, Peter Leško.

In addition to the technology itself, CRIF's experience in helping banks make the transition to more sophisticated loan origination and credit management solutions also helped OTP Banka Slovakia make the switch. Leško cited CRIF's "flexible software framework" and the company's ability to "act on site in local language" as key to providing both the support and the independence the bank wants.

This last point echoes what we heard from CRIF in the days leading up to their Finovate debut in February at FinovateEurope 2014. "Banks are more and more requesting the ability to make changes," CRIF marketing director Sheila Donahue explained in a pre-demo briefing. "They don't want to be dependent on vendors or have their hands tied." Read more from our briefing with CRIF here.

OTP Banka Slovakia is part of the OTP Group. Based in Bratislava and with more than 600 employees, the bank has a network of 63 branches throughout Slovakia. OTP Banka Slovakia reported assets of €1.4 billion as of the end of 2013.

CRIF was founded in Italy in 1988. The company's 2013 revenues were €305 million. More than 2,400 banks and financial institutions worldwide use CRIF's technology daily.
  • Finovate-F-Logo.jpgMichigan Education Association selects Billhighway to improve membership experience.
  • ProfitStars' iPay Solutions Resource Center receives NACHA's 2014 PayItGreen Award.
  • miiCard launches IDaaS for Lenders, a solution that combines ID proofing, bureau data, bank data, & authentication.
  • CardFlight launches SwipeSimple to offer a co-branded mobile POS product to merchants.
  • LA Parent features Oink among its "Cool Tools."
  • OTP Banka Slovakia to deploy CRIF Credit Framework.
  • LendUp launches in Mississippi, the state with the highest percentage of unbanked and underbanked households in the U.S.
  • Rippleshot CEO Canh Tran to join Chicago-area startups at White House summit on entrepreneurialism. See Rippleshot demo at FinovateSpring in San Jose.
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.
FinovateSpring2014ButtonLogo.jpg

Below, we've brought you another set of companies that will show off their newest technology at FinovateSpring on April 29 and 30 in San Jose. The six companies featured below will demo their fintech solutions that target problems ranging from marketing to security.

In case you missed them, check out the following posts in our series, each featuring 6 companies:


EncapLogoFS14
Encap Security allows FIs to think outside the "authentication box," providing the ideal solution for mobile and online banking, CNP transaction and call center authentication.

Features:
Encap Security's in-app authentication solution:

    • increases security while improving customer experience
    • increases adoption, revenue while decreasing costs
    • satisfies regulatory requirements.

Why it's great:
For the first time, you can forget that old trade-off between security and ease-of-use.  

Presenters:

Adam Dolby,VP of Business Development
Dolby serves as Encap Security's VP of Business Development, with a focus on the Americas. He brings over 20 years of experience in the development and delivery of e-banking products.
LinkedIn

David Nayes, Director of Sales
Nayes has a deep understanding of strategies for combating payment and mobile banking fraud.
LinkedIn


InsuritasLogo
Insuritas is the nation's leading SaaS banking solution delivering on the high demand for Web based services from financial institutions that converts online banking sites into sales engines.

Features:
    • SmartCART delivers shop, compare, buy, single check-out and post-sale online account creation
    • Sales revenue annuitizes at 82% YOY
    • Contains products consumers purchase and repurchase every year
Why it's great: 
Transforms bank web eco-systems for 69 million online banking customers from service sites into ecommerce platforms that generate value added, annuitizing, non-cyclical fee income.  

Presenters:

Jeffrey Chesky, Founder, President & CEO 
Chesky pioneers the design, installation, and outsourced management of insurance agencies for financial institutions nationally.

Matt Chesky, SVP
Chesky joined Insuritas in 2012, oversaw design and deployment of Insuritas SmartCART Technology and SaaS platform; Graduated Yale '12 with a degree in Economics.
LinkedIn

PellucidAnalyticsLogo
Pellucid Analytics fixes pitchbook creation. It is a tablet and browser product that lets you browse print-ready charts and drag them into a pitchbook.

Features: 

    • Leverage a large gallery charts formatted to firm-specific branding standards 
    • Quickly assemble charts into a pitchbook 
    • Focus on applying judgment to information and crafting a compelling message 

Why it's great:
Pellucid compresses the time required to perform a broad range of pitchbook-related activities from days to seconds.

Presenters:

Adrian Crockett, CEO and Cofounder
Crockett has over 14 years of investment banking experience, heading groups at Credit Suisse, Merrill Lynch, and Deutsche Bank.
LinkedIn

Jamie Ballingall, Chief Scientist and Cofounder
Ballingall oversees delivery of the product and was formerly an investment banking quant and adjunct associate professor at Columbia University.
LinkedIn


RadiusLogo2
Radius is the modern way to market to small businesses. Unlock your best SMB customer segments. Deploy targeted marketing campaigns and measure your success.

Features:

    • Gain insights on more than 27 million U.S. businesses
    • Discover your best customer segments and create look-alike lead lists
    • Deploy campaigns and measure success

Why it's great:
Radius takes the guesswork out of lead generation. Identify your best market segments. Deploy amazing marketing campaigns. Learn. Repeat.  

Presenter:

Darian Shirazi, Founder & CEO
Shirazi was an early employee at Facebook and worked on the Sell Your Item team at eBay. He has founded, invested in, and advised many successful technology companies.
LinkedIn


TextPowerLogo
TextPower's TextKey protects data, websites, and VPNs by having users send a simple text message which authenticates by verification of up to seven factors.

Features:

    • World's first omni-factor authentication (checks every factor)
    • Virtually unhackable; authenticates via simple SMS
    • Affordable and easy to install for any size business

Why it's great:
Simple, strong, secure protection for your data, website and company. TextKey's patent-pending technology is virtually unhackable because users text the key from their cell phone.  

Presenter:

Scott Goldman, Co-founder/CEO
Technologist, successful entrepreneur, author, consultant, globally-recognized speaker, and "Wireless Wizard". Mileage-mad cyclist. Favorite hobby: Making dark chocolate disappear.
LinkedIn


VenovateLogo
Venovate's Marketplace is an online platform that makes investing in and fundraising for private securities faster and more efficient.

Features:

    • Verification of investors and fundraisers
    • Thorough due diligence on investment opportunities
    • Back office for efficient execution of transactions

Why it's great:
Venovate is the smarter alternative for investing and fundraising.  

Presenters:

Michael Raneri Chairman & CEO
Raneri has over 20 years of experience in executive positions with four leading online brokerage firms. Uniquely qualified to lead the next generation of financial industry innovation.
LinkedIn

Thomas Foley, Co-founder
Foley has been successful at several startups and in investment banking. Recognized for outstanding entrepreneurship in BusinessWeek's 30 Under 30.
LinkedIn


Be sure to check back on Thursday of this week, when we'll post a sneak peek of another six companies.

  • Finovate-F-Logo.jpgPYMNTS: Shopkeep POS undergoes latest revision and releases 2.0 version.
  • Jumio partners with Equifax to make mobile transactions more secure.
  • Leaf launches Payments Apps Marketplace.
  • Dallas Business Journal names defiSOLUTIONS CEO Stephanie Alsbrooks one of its 40 Under 40. See defiSOLUTIONS demo at FinovateSpring in San Jose.
  • Bloomberg column on apps for financial health features Level Money, Check, Mint, LearnVest, and Betterment.
  • Level Money earns spot on Entrepreneur.com's "5 Must-Watch San Francisco Tech Startups in 2014".
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.
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There may be better ways to encourage cart abandonment than requiring customers to fill out forms in order to complete online transactions. But I doubt it. And if the consumer is on a mobile phone or tablet, the problem is even worse.

To this end, Equifax has teamed up with fellow Finovate alum Jumio to provide a set of solutions that will make it easier for mobile device users to safely and securely auto-fill information on their devices.

Two of Jumio's technologies - Netverify and Netswipe - will be integrated with Equifax's 1-Touch Services and Mobile Wallet. The 1-Touch integration will enable auto-fill of personally identifiable data. The integration with the Mobile Wallet will allow users to either scan their cards with their smartphone or complete the transaction in person at the point-of-sale with their smartphone.

The partnership was driven at least in part by Jumio's research, it seems. The company's Mobile Consumer Insights Study found in 2013 that nearly 47% of consumers blamed their cart abandonment on the inconvenience of entering personal data into forms on mobile devices.

Jumio was founded in 2010. Based in Palo, Alto, California, the company specializes in credentials management that is geared both toward minimizing fraud and reducing friction for consumers. Daniel Mattes is founder and CEO.

Equifax became a Finovate alum as a presenter at FinovateFall 2011 in New York. The company's B2C unit, Personal Solutions, demoed Equifax Complete, a credit score monitoring and fraud alert solution accessible via the company's mobile app.

Last on the Finovate stage in February (FinovateEurope 2014), Jumio is among the companies that will be demoing its technology at the upcoming FinovateSpring show in San Jose, California, April 29 and 30. For more information on how to see Jumio's demo live and in person, visit our FinovateSpring 2014 page.
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The developers of the Leaf mobile POS tablet realize that there is more than one way to attract merchants to your payments platform.

Leaf announced today that it is launching its Payments App Marketplace. The marketplace will make it easier for payment service providers to market directly to merchants, creating new branding opportunities and, potentially increased sales and retention. The two separate apps launched today by Leaf support credit cards and prepaid cards.

Leaf CEO and co-founder, Aron Schwarzkopf said:

"Our merchant customers often ask for our advice when choosing a payment provider ... Now we can guide our customers to Payment Apps, where they are empowered to make an educated decision based on the needs of their small business."

The new Payments Apps Marketplace provides payment processors with real-time, in-system product marketing. Messaging, upselling, and generated sales through online referrals are all ways that processors can take advantage of the Leaf POS system to reach new customers and do a better job of connecting with and serving existing customers. 

Moreover, the hope is that the the presence of a variety of payment processors aggressively competing for merchant business will help attract new merchants to the Leaf platform. Schwarzkopf said, "Many were losing portfolios to technology. We're helping them be able to adopt technology without losing what they do day to day, which is processing."

Leaf has raised $26 million in funding, including a $20 million venture round completed last September. Founded in 2011 and based in Cambridge, Massachusetts, Leaf demoed its LeafPresenter technology as part of the FinovateSpring show in 2013.

And to learn about our upcoming FinovateSpring event at the end of April, go here to visit our FinovateSpring 2014 page.
  • Lighter Capital provides growth funding to 3 tech co's in Colorado: Envisiontel, Influence Tech, & YogaDownload.
  • Dexterity Consulting gives sneak peek of its Give API v. 2.0.
  • Vietnam Eximbank deploying biometric fingerprint authentication from TSYS.
  • New partnership to bring ProfitStars' remote deposits and bill pay capabilities to Online Banking Solutions's Messenger Financial Center e-banking platform.
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.

Xero Announces 80% YOY Revenue Growth

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Fresh off news of its integration with Square, cloud accounting software specialist Xero announced the end of a fiscal year that saw the company grow its revenues by more than 80%.

A few other metrics just released by the company include:

  • NZ$70 million ($60 million USD) in operating revenues
  • NZ$93 million ($80 million USD) in annualized subscriptions
  • NZ$210 million ($180 million USD) in cash on hand to fund growth
  • 284,000 paying customers
  • 758 employees
Xero is the leading accounting software provider in New Zealand, and leads the online market in both Australia and the United Kingdom. In fact, Xero has seen the most significant year-over-year growth in the latter two regions, as well as North America. Metrics on Xero's paying customers by region are below:

  • Australia: 109,000
  • New Zealand: 102,000
  • United Kingdom: 47,000
  • North America: 18,0000
  • The rest of the world: 8,000
And here are numbers on Xero's year-over-year growth in subscription revenue:

  • North America: 154%
  • Australia: 120%
  • United Kingdom: 92%
  • The rest of the world: 86%
  • New Zealand: 48%
Xero demonstrated its technology as part of the show at FinovateSpring 2011. See the company in action here.

Finovate Alumni News-- April 4, 2014

  • MasterCard partners with SIX Payment Services to bring MasterPass to Switzerland.
  • Texas Bay Area Credit Union to deploy Fiserv payments solution suite.
  • New agreement means MasterCard EMV debit cards will run on First Data's STAR Network.
  • Pymnts News: Equifax partners with Jumio for Mobile Commerce.
  • Actiance's partnership with Trustlink to give it access to a growing market in Africa.
  • D magazine interviews Yseop CEO John Rauscher. See Yseop demo at FinovateSpring in San Jose.
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.
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What's the only thing better than getting to know 18 of the companies that will demoing at FinovateSpring 2014 less than a month from now?

Meeting six more.

Here's the fourth installment of our FinovateSpring 2014 Sneak Peek series. In today's edition, we'll introduce you to a sextet of innovators in fields ranging from loan origination and in-store offers to mobile data capture, mobile banking, and mobile security.

If you missed any of our previous editions, the links below are a great way to get caught up. 


In the meanwhile, get ready to meet defi Solutions,Digital Retail Apps, Kofax, StrategyCorps, Rippleshot, and Vorstack. And to save your spot at FinovateSpring, April 29-30 in San Jose, California, click here to buy your ticket today.


defi_solutions_logo
defi Solutions takes auto lending to the next level with its SaaS Loan Origination System that can be configured and launched within days not months.

Features:
  • Affordable, enterprise system completely configurable for auto lenders of all sizes
  • Accesible from mobile devices
  • Browser-based solution allowing lenders to focus on lending v.s. technology
Why it's great: 
defy Solutions SaaS Loan Origination System allows auto lenders to configure the system to meet market demands without costly development time.

Presenters:
Stephanie Alsbrooks, Founder
Founded defi Solutions with the mission to overcome the auto lender challenge of choosing between dated, inefficient, out-of-the-box systems and costly, long-to-implement custom solutions.

Chris Holt, Senior Engineer, Automation


Digital_Retail_Apps
Digital Retail Apps' SelfPay is a platform to engage in-store shoppers. Shoppers scan items, view product details, and pay for their purchases on their own mobile devices.

Features:
  • Locates and welcomes the shopper using Beacon technology
  • Integrates with POS and merchant account
  • Offers lineup-free payments via shopper's own device
Why it's great:
We give in-store shoppers a natural shop + pay flow and merchants a way to engage in-moment while collecting deep insights into shopper in-store activity.

Presenter:
Wendy MacKinnon-Keith, CEO/Founder
Innovating by pushing payments into the background. Speaker at events such as SXSW and CNP; consulted to IBM, Nokia, Safeway, and others.


KofaxLogolarge.jpg
Kofax's Mobile Capture Platform is helping consumers better connect with retailers by automating the process of checking balances on their gift cards through the use of their smart phone or tablet.

Features:
  • Use mobile devices to automatically detect retail gift cards
  • Eliminate the process of manually entering accounts numbers
  • Give customers immediate access to account balances and other information
Why it's great: 
The solution makes gaining access to gift card information more convenient for gift card issuers. It gives vendors a cost effective tool that helps them deliver better service and faster transactions.

Presenter:
Drew Hyatt, Senior Vice President of Mobile Applications
His team is responsible for driving the company's mobile capture business on a worldwide basis.


StrategyCorps_new_lo_res_logo
StrategyCorps' BaZing expands basic mobile and online banking, connecting them closer to the way consumers use mobile and online financial services in their everyday lives.

Features:
  • Hundreds of thousands of local merchant discounts at your fingertips
  • Location-aware coupons and targeted notifications
  • A mobile financial services customer experience beyond basic mobile banking
Why it's great:
BaZing boldly goes beyond basic mobile banking, delivering in-demand services that connect better with consumers and how they use their mobile phones every day.

Presenter:
Mike Branton, Managing Partner


Rippleshot_logo_with_slogan
RippleShot detects credit card data breaches. Our cloud-based solution helps merchants and banks proactively stop fraud before it occurs.

Features:
  • Next Gen fraud prevention - stopping fraud before it occurs
  • 24/7 monitoring - detecting breaches faster
  • Early warning alerts - proactively protects merchants, consumers and credit card issuers
Why it's great:
It's not if you are going to be breached, it's when. Rippleshot's 24/7 monitoring proactively detects, mitigates and stops fraud before it occurs.

Presenters:
Canh Tran, Co-Founder and CEO
Has over 25 years of experience focused on big data and predictive analytics to solve sales, marketing, fraud and credit problems.

Lucas Ward, Co-Founder and COO
Is a proven technology leader. At Fundspire, Lucas created an innovative product to change the way hedge funds viewed and analyzed their data.


vorstack_logo
Vorstack combats cyber threats with automated and collaborative threat intelligence. Brand-conscious organizations will lower risk, save money and protect intellectual property.

Features:
  • Automated analysis and correlation of disparate cyber threat information
  • Coordinated threat intelligence with industry and peers
  • Fine-tuned configurable control over shared threat info
Why it's great:
Vorstach lowers the probability and cost of a cyber attack through automation and coordination. You'll save time and money, and protect your brand.

Presenters:
Joe Eandi, JD, CEO and Co-Founder
Has served on executive management teams and boards, and was an attorney with Wilson Sonsini.

Mark Manning, VP Technical Services
Has founded and advised numerous startups, and held management roles at Trust Digital, ORBID, Phoenix Technologies, and British Telecom.


Be sure to join us next week for another installment of our FinovateSpring 2014 Sneak Peek series.
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Investment management service Wealthfront will have some investment management of its own to do in the coming weeks and months: the company just reported that it has raised $35 million in new capital.

The funding round was led by Index Ventures and Ribbit Capital, and included the participation of existing investors such as The Social+Capital Partnership, Greylock Partners, and DAG Ventures.

Wealthfront's total funding now stands at $65 million.

Wealthfront is one of the largest automated investment management services in the world. In a market crowded with competitors, Wealthfront continues to see a bright future in automated investing thanks to the 90 million person, $2 trillion dollar millennial generation.

Said the company in a statement: "(Millennials) have grown up with software and lived through two market crashes. They overwhelmingly seek an investment solution that is automated, index-based, and low-cost."

A few metrics from Wealthfront:
  • Growth of more than 700% since the beginning of 2013
  • Manages more than $500 million in customer accounts
  • Client accounts range from $5,000 to $10,000,000
  • More than 55% of the company's users are below the age of 35
We last reported on Wealthfront when the company launched its new mobile app back in February. The mobile app lets users check account balances, view investment performance, and transfer funds to Wealthfront accounts.

Wealthfront (as "kaChing") demoed on the Finovate stage as part of Finovate Startup in 2009. Former COO Adam Nash was promoted to chief executive officer in January 2014.

Finovate Alumni News-- April 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.jpgTop Image Systems wins awards for innovations in crowdsourcing and mobile imaging.
  • Insuritas E-InsuranceAISLE Platform generated more than 2 million product impressions in March. The technology is deployed in more than 50 banks and credit unions, supporting more than $1.5 million in product sales. See them demo at FinvoateSpring.
  • Misys trade and supply chain finance processing platform embraced by National Australia Bank (NAB).
  • Nostrum Group announces opening of new office in London.
  • Kantox integrates AU10TIX B.O.S solution to auto-classify, authenticate and extract data from of images of customers ID documents.
  • Compliance Week looks at how Actiance helps banks stay compliant with social media.
  • The Australian looks at PayPal's Braintree.
  • BancVue launches new youth spending app, PiggyBot.
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.
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