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Last week was surprisingly busy given how close it was to the year-end holiday freeze. But two blockbuster deals, $250 million to Swedish payment company Adyen and $200 million raised in an IPO from Finovate alum OnDeck, made it one of the biggest weeks of the year. 

In total, $512 million was raised by 17 fintech companies. Here there are in order of deal size (from Dec. 13 to Dec. 19): 

Multi-channel payments company
Latest round: $250 million
Total raised: $266 million
Tags: Payments, mobile, online, POS, merchants, Amsterdam, Netherlands
Source: Crunchbase

Online lending to small-and-medium businesses 
Latest round: $200 million (IPO)
Total raised: $610 million (of which $230 million is debt)
Tags: Lending, alt-lender, SMB, underwriting, New York City, Finovate alum
Source: Finovate

Japanese personal financial management services
Latest round: $12.6 million
Total raised: $17.6 million
Tags: PFM, money management, personal accounting, Tokyo, Japan
Source: Crunchbase

Blockchain technology
Latest round: $8.6 million
Total raised: $8.6 million
Tags: Blockchain, bitcoin, cryptocurrency, identification, trust, security, San Jose, California
Source: FT Partners

Online real estate appraisals
Latest round: $8.2 million
Total raised: $13.5 million
Tags: Lending, mortgage, appraisal, compliance, Calgary, Alberta, Canada
Source: FT Partners

Online giftcard exchange
Latest round: $6 million (debt from Sterling National Bank)
Total raised: $12 million (of which $6 million is debt)
Tags: Prepaid cards, gift cards, debit, Brick, New Jersey
Source: Crunchbase

Private equity marketplace for retail investors
Latest round: $5.2 million
Total raised: $5.2 million
Tags: Investing, wealth management, private equity, Vancouver, British Columbia, Canada
Source: Crunchbase

Investment management and research
Latest round: $5 million
Total raised: $5 million
Tags: Investing, wealth management, analytics, Portland, Oregon
Source: Crunchbase

Consumer loan marketplace
Latest round: $3.9 million
Total raised: $3.9 million
Tags: Lending, P2P, person-to-person, investing, London, UK
Source: Crunchbase

Mobile payment platform for financial institutions
Latest round: $3.2 million
Total raised: $4.9 million
Tags: Payments, mobile, digital, enterprise, Omaha, Nebraska
Source: Crunchbase

Mobile money transfers
Latest round: $3 million
Total raised: $3 million
Tags: Mobile, funds transfer, payments, Gurgaon, India
Source: FT Partners

Savings automation tools
Latest round: $2.5 million
Total raised: $2.5 million
Tags: Deposits, savings, PFM, retirement, San Francisco, California
Source: Crunchbase

Expense sharing software
Latest round: $1.4 million
Total raised: $1.4 million
Tags: Expense management, mobile, billing, payments, PFM, Providence, Rhode Island
Source: Crunchbase

Mobile budgeting & spending tools
Latest round: $1.3 million
Total raised: $1.6 million
Tags: PFM, money management, online banking, mobile, alt-lender, SMB, underwriting, Stockholm, Sweden, Finovate alum
Source: Finovate

Stealth payments company (we presume)
Latest round: $1.2 million
Total raised: $1.2 million
Tags: Payments, Forest Hill, Maryland
Source: Crunchbase

Integrated payment platform
Latest round: Undisclosed
Total raised: Unknown
Tags: Mobile payments, merchants, SMB, Atlanta, Georgia, Finovate alum
Source: Crunchbase

ATM finder and advertising aggregator
Latest round: Unknown
Total raised: Unknown
Tags: Marketing, advertising, ATM, Brooklyn, New York
Source: FT Partners

There's no doubt 2014 has been a big year for fintech. The amount of venture capital funding, along with a handful of successful IPOs, have brought a spotlight to a once-dark space.

It has been a banner year at Finovate, as well. Over the course of our four conferences in 2014, we've seen:

    • 251 demos
    • 29 hours of demos
    • 28 "time's up" gongs
    • 36 hours of high-intensity networking

Also, our 4,000+ attendees awarded 28 Best of Show awards to participating companies. Here's a look back at the best of 2014:

FinovateEurope2014Banner.jpg

Held February 11 & 12 in London
FEU2014BoSWinners.jpg
  • Backbase, with its out-of-the-box tool for mobile account origination and enrollment
    demo video
  • BehavioSec, with its behavioral biometrics solution created specifically for a mobile environment
    demo video
  • Luxoft, for its iStockTrack, an app that gives users a single place to connect with their investment life
    demo video
  • Tink, for its mobile PFM that helps users stay connected with their finances
    demo video
  • YourWealth, for its MoneyHub technology that gives users total control of their entire financial life
    demo video

      FS2014BannerLogo.jpg
      Held April 29 & 30 in San Jose
      FS14BosWinners.jpg
      • EyeVerify, for its Eyeprint Verification technology that enables mobile biometric authentication
        demo video
      • Loop, for its smart mobile wallet system accepted at virtually every retail POS terminal without making changes to the existing POS system
        demo video
      • Motif Investing, for its Advisor Platform that streamlines the way advisors build, monitor, and rebalance investment portfolios
        demo video
      • Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphone
        demo video
      • SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance
        demo video
      • Stockpile, for its "give the gift of stock" solution that helps people invest in the brands they love
        demo video

      FinovateFallBannerLogo.jpg
      Held September 23 & 24 in New York
      FF14BoSWinners2.jpg
      • AnchorID, for its new way to log into websites and apps. One universal username logs you in with unique security.
        demo video
      • blooom, for its simple tool built to fix the millions of mis-invested 401(k) allocations for individual clients
        demo video
      • CrowdFlower, for its leading data enrichment platform to help data scientists, analysts, and engineers collect, clean, and label data to make it useful
        demo video
      • Loyal3, for its use of social technologies to democratize the markets, making investing in IPOs and stocks easy and affordable for everyone
        demo video
      • MX (formerly MoneyDesktop), for its WideNet Technology to help FIs expand their market reach, and its Helios cross-platform digital banking app
        demo video
      • NICE Systems, for its real-time authentication that strengthens and streamlines the authentication process in real-time, while customers converse with an agent
        demo video
      • Toopher, for its multi-factor authentication platform that uses the location awareness of your smartphone to automate authentication for logins and critical actions
        demo video

      FinDEVrBannerv2.jpg
      Held September 30 & October 1 in San Francisco
      FinDEVrBoSWinners2.jpg
      • Avoka, for its engagement platform that enables omni-channel account opening in 60 seconds
        demo video
      • BehavioSec, for its mature identification system that uses behaviour analytics to provide real-time security
        demo video
      • Yodlee, for its Interactive APIs that provide authorized access to real-time data for customer accounts
        demo video

      Check out photos from FinDEVr San Francisco 2014 on Flickr




      The Full History

      Here's the Best of Show history that spans back to the inception of Finovate in 2007:

      Finovate 2007
      Held October 2, 2007


      Held April 29, 2008

      • First ROI (now BancVue), for its CheckingFinder services aimed at community financial institutions
        demo video
      • Jwaala, for its software solutions to help financial institutions compete
        demo video

      Held October 14, 2008

      • Credit Karma, for its a free and easy way for consumers to understand, monitor and monetize their credit profile
        demo video
      • Neosaej (since shuttered), for its MoneyAisle platform where banks compete in live auctions for an individual consumer's business 
        demo video

      Held April 28, 2009

      • BillShrink (now Truaxis), for its free cost-savings tool that saves consumers money on everyday bills
        demo video
      • Silver Tail Systems (acquired by EMC in October 2012), a predictive analytics to prevent fraud abuse
        demo video
      • SimpliFi (since shuttered), a web service that allows anyone to create and update their own financial plan
        demo video

      Held September 29, 2009

      • Credit.com, for its free interactive tools, education, and unbiased comparisons of quality financial products and services
        demo video
      • Silver Tail Systems (acquired by EMC in October 2012), an online fraud detection service
        demo video
      • Yodlee, for its personalized financial solutions to financial institutions
        demo video

      Held May 11, 2010

      • oFlows (Purchased by Andera in 2011), a multichannel, paperless solutions for financial institution account opening
        demo video

      Held October 4 & 5, 2010

      • oFlows (Purchased by Andera in 2011), a multichannel paperless solutions for account openings
        demo video

      Held February 1, 2011


      Held May 10 & 11, 2011

      • BancVue, for its MoneyIsland financial education game aimed at community financial institutions
        demo video
      • BankOns, for its mobile app that offers consumers real-time savings at local merchants
        demo video
      • oFlows (Purchased by Andera in 2011), a multichannel paperless solutions for account opening
        demo video

      Held September 20 & 21, 2011

      • FeeFighters (acquired by GroupOn in 2012), a platform that simplifies the process of choosing a merchant account provider
        demo video
      • Offermatic (closed in June 2013), a targeted online-offers provider
        demo video
      • oFlows (Purchased by Andera in 2011), a multichannel, paperless solutions for account openings
        demo video

      Held February 7, 2012

      • Nutmeg, an online investment manager that democratizes saving and investing
        demo video

      Held May 8 & 9, 2012 

      • BehavioSec, for its security layer based on user typing/swiping and other behavioral patterns
        demo video
      • Dwolla, for its FISync service to enable banks to originate real-time, P2P payments
        demo video

      Held September 12 & 13, 2012

      • Credit Sesame, for its Financial Fitness Indicator that gives users a comprehensive view of their financial situation
        demo video
      • Dashlane, a password and account management platform that has instant login and checkout features
        demo video
      • Dynamics, for its Triple Interface card, allowing for tap, swipe, or EMV payments
        demo video

      Held November 6, 2012

      • Finantix, for launching Sharp digital banking platform to improve sales and service interaction
        demo video
      • SocietyOne, for its ClearMatch technology used to streamline the loan-application process 
        demo video
      • Ubank, for launching its peer-spending comparison tool, People like U, along with National Australian Bank (NAB)
        demo video
      Held February 12 & 13, 2013

      • Virtual Piggy (now Oink), for its kids' payment system with parental controls
        demo video

      Held May 14 & 15, 2013

      • LendUp, for its LendUp Ladder loan platform that helps the underbanked build credit
        demo video
      • TipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
        demo video
      FinovateFall 2013
      Held September 10 & 11, 2013

      • Motif, for its platform that lets you invest in ideas in one click
        demo video
      • TipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
        demo video
      • Yodlee, for its debut of TANDEM that helps groups manage and discuss shared finances
        demo video
      Held November 14, 2013

      • IND Group, for its Essence mobile-banking app, with detailed financial management tools
        demo video
      • Kofax, for its omni-channel solution that accelerates and enhances the underwriting process
        demo video
      • Yodlee, for the international debut of TANDEM, an app that helps groups manage and discuss shared finances
        demo video

      Notes on methodology:  
      1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.     
      2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.    
      3. The exact written instructions given to attendees: "Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed."  
      4. The companies with the highest percentage of submitted ballots were named Best of Show. 
      5. FinDEVr Award Winners were selected from presenters on day 2 only. 

      Thumbnail image for ContinuityControlLogo2.jpg

      A big hire for Continuity Control as the "compliance-as-a-service" company announced earlier this month that Peter Rawlinson would be taking the helm as Chief Marketing Officer.

      PRawlinsonContinuityControl.jpg

      Rawlinson had previously been a marketing specialist for AppSense, serving as the company's VP of Marketing for six years and as Chief Marketing Officer for another year and a half. Before AppSense, Rawlinson spent more than four years as VP of Product Management for OpenText.

      Continuity Control specializes in making it easier for financial institutions to meet their regulatory and compliance requirements. The company refers to its technology as a "pre-programmed Universal Remote" that helps banks and credit unions organize and stay ahead of increased government oversight and combat rising compliance costs. Continuity Control's solution automates the much of the compliance process to make sure the that everything from annual oversight to periodic review is on point.
      RawlinsonTwitter.jpg
      Continuity Control was founded in 2008 and is headquartered in New Haven, Connecticut. Andy Greenawalt is founder and CEO. In August the company announced raising $10 million in new funding. In June, Gartner named Continuity Control a "2014 Cool Vendor in Services" for its automated compliance management system for small banks and credit unions. 

      Continuity Control demoed at FinovateSpring 2010.
      GoBank_Logo_small.jpgIf your new year's resolution is to better manage your money, you can pick up a tool to help you accomplish it at Walmart.

      Prepaid card company, GreenDot has extended its contract with retail giant, Walmart. Through the agreement, Walmart will distribute the California-based company's prepaid products through 2015, including GreenDot's GoBank, which was debuted at FinovateSpring 2013.

      Since Walmart accounted for 53% of GreenDot's revenue in Q3 of 2014, this is good news for GreenDot, though the two have yet to reach a multi-year agreement.

      GoBankScreenshot.jpg
      GoBank is a mobile and online-only account aimed at the un- and underbanked. Its mobile-first UI offers users free cash deposit and direct deposit services, mobile RDC, free ATM usage, online billpay, and a P2P payments platform.

      Jemstep to Power Redhawk Online Advisor

      Thumbnail image for JemstepLogo2.jpg

      What do you get when you combine online investment advisory with traditional human advisors?

      One outcome is Redhawk Online Advisor, a new service made possible due to a partnership between online investment advisory firm, Jemstep, and Redhawk Wealth Advisors, a full-service registered investment advisor.

      "We're excited to add this service to our traditional offering as a way to increase our efficiency as we both broaden and deepen our client relationships," said Redhawk Wealth Advisors CEO, Dan Hunt. Hunt suggested that clients increasingly expect both online technology and a "personal touch" when it comes to helping them manage their investments.

      Jemstep_homepagenew.jpg
      Simon Roy, Jemstep president, also underscored the way the technology will help advisors better engage their clients. "Our embedded communications platform keeps advisors informed about their client's use of the service, and helps them reach out to qualitified prospects more efficiently."

      Redhawk Online Advisor integrates seamlessly with Redhawk's current services for investors. The technology aggregates client accounts, making it easier for advisors to provide better, more "holistic and unbiased guidance" in the words of Redhawk advisor, Michelle Bertram, and provides actionable advice to help clients reach their financial goals.

      Jemstep_FS2013stage.jpg
      (Above: L-R. Kevin Cimring, CEO,  Matthew Rennie, CTO)

      In addition to frequent coverage in both financial and mainstream media, Jemstep launched its Advisor Pro solution in November. The company followed that up with an announcement that it had become a partner on TD Ameritrade's account management and trading platform, Veo.

      With more than 10,000 users, Jemstep is headquartered in Los Altos, California, and was founded in 2008. The company demoed its Portfolio Manager solution at FinovateSpring 2013.

      Alumni News-- December 23, 2014

      Thumbnail image for Thumbnail image for 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
      • The Tech Bulletin profiles Heckyl Technologies.
      • Sonavation announces acquisition of assets of Arkami.
      • Chelsea State Bank launches Larky-powered mobile app.
      • EVRY announces a four-bank, $160 million payments partnership.
      • Kashoo unveils version 4.1 of its cloud accounting and bookkeeping app for iOS. 
      • Walmart to distribute GreenDot prepaid products in 2015.
      • BMO Financial Group's deployment of Xignite Enterprise wins American Financial Technology Award.
      • IT Qlick takes a look at Jwaala Personal Financial Manager and roomMaster.
      • CashStar teams up with Spafinder Wellness.
      • NY Times DealBook looks at disruptive startups in fintech including Lending Club, On Deck, and TradeKing.
      • Forbes.com column on how companies stand out from the crowd features Silanis Technology.
      • Jemstep to power Redhawk Online Advisor.
      • Continuity Control taps Peter Rawlinson as Chief Marketing Officer.
      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.
      LarkyLogo_FF2014.jpg

      Chelsea State Bank has announced that it will deploy a new mobile app, courtesy of a partnership with loyalty/rewards specialist, Larky.

      The new app is called The Local Edge. Bank customers who use the app will be able to see and search through discounts available to them from more than 2,000 organizations, entertainment venues, and other community businesses, including Chelsea State Bank.

      Andrew Bank, co-founder of Larky, said, "Larky is lucky to work with savvy financial institution partners who believe in creating unique customer experiences and touching their customers through(out) their lives, not just when they're banking."

      Larky_homepage.jpg
      Larky specializes in helping banks and credit unions provide better rewards and loyalty programs for their customers. Larky's mobile + web platform enables financial institutions to provide point-of-sale discounts and helps local and national businesses, to send branded, location-based alerts to smart devices, and save users as much as $1,000 a year.

      Larky has 12 employees and has raised more than $2 million in funding. We last reported on the company as part of our fall Money 20/20 coverage, noting six new financial institution clients Larky signed up in the fall.

      For more insights on Larky implementations, checkout this conversation between Larky's Bank and Rebekah Monroe, marketing manager for Christian Financial Credit Union. CFCU launched a branded version of Larky's mobile disc out platform called "Community CA$H" in November.

      Founded in 2012 and based in Ann Arbor, Michigan, Larky made its Finovate debut at FinovateFall. See a video of the company's demonstration of its new Android app.
      evry-logo_primary.jpg

      Five years. Four banks. And one very big deal for EVRY.

      In an agreement announced today, EVRY will provide payment and core banking services for four Norwegian banks: Sparebanken Sør, Sparebanken Sogn og Fjordane, Helgeland Sparebank and Gjensidige Bank. The five-year partnership is valued at NOK 1.2 billion, or more than $160 million USD.

      According to EVRY CEO Terje Mjøs, the deal is a culmination of the work his company has done with these banks for years. "This is an important milestone in our strategic investment in developing and delivering next generation core banking and payment solutions," he said.

      EVRY_logo_unofficial.jpg
      Added Geir Bergskaug, Sparebanken Sør CEO, "Investing in next generation core banking and payment services is an important strategic step. The contract will ensure that we have a flexible and cost-effective infrastructure, which will also mean we can take new services to the market more quickly."

      One of the largest IT companies in the Nordic region, EVRY provides IT services for more than 14,000 private and public customers, reaching more than 4 million in the Nordics. Earlier this year, the company signed payment deals with two other Norwegian banks - SpareBank 1 Alliance and Sparebanken Vest - part of an aggressive push to expand its presence in the region.

      EVRY will make its Finovate debut in next February at FinovateEurope. For more information about the upcoming conference in London, check out our FinovateEurope 2015 page.

      Alumni News-- December 22, 2014

      • Finovate-F-Logo.jpgDeutsche Bank launches FinanzPlaner powered by Strands PFM. Check out Strands' newest tech at FinovateEurope.
      • Arroweye Solutions increases its payment card security.
      • SF Gate considers how Personal Capital brings a human touch to robo-advising.
      • Bluefin Payment Systems partners with 3Delta Systems to provide Bluefin's Decryptx Point-to-Point Encryption Solution to 3Delta clients.
      • Financial Post takes a look at how innovations like SelfPay from Digital Retail Apps are helping small businesses.
      • Feedzai wins Silver Stevie Award in Most Innovative Company of the Year category in the 12th Annual American Business Awards.
      • FTSE Global Markets looks at how Kensho, Motif Investing, FutureAdvisor, and Wealthfront are leveraging big data and big computing.
      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.
      Qapital_hi_res_FS2014.jpg

      In a round led by venture capital firm Northzone, Swedish personal finance management innovator Qapital has raised $1.3 million in seed financing. The investment will help the company grow its team as well as prepare its technology for launch in the U.S.

      Pär-Jörgen Pärson, partner at Northzone and an early investor in and board member of Spotify, called Qapital "the way an everyday banking service should work." Added George Friedman, Qapital CEO and co-founder, "Once they use it, I think people will start realizing that managing money isn't boring."

      "Spending and saving smart should be easy and sometimes even fun." 

      Qapital_homepage.jpg
      Currently in private beta, Qapital's PFM technology combines personal finance management with features like safe balance and a "rule-based" savings and goals planner in a single application. State of the art account aggregation powered by Social Money means that transactional data from linked accounts is transferred and available to see in real-time, which helps "connect everyday savings with everyday results."

      "To save money, you have to make a good trade between now and later, and that's pretty difficult and abstract," Friedman said from the Finovate stage this spring. "The real key to our product is that we actually help you change your behavior and save in ways you've never done before."

      Qapital_FS2014stageshot.jpg
      Qapital encourages users to focus on specific goals, and uses a rule-based savings approach to accomplish this. For example, one rule may say that every time you buy a product from the local pastry shop - or every time you go the gym to workout - you set aside $10 toward one of your pre-set goals.

      And while people think about saving this way all the time, Qapital's account aggregation makes this savings happen automatically between linked accounts. No worry having to remember to transfer the money in your banking app, or to stash dollar bills in an envelope. As soon as you do the transaction, the savings are allocated to the appropriate goal.

      Based in Stockholm Sweden and founded in September 2012, Qapital demonstrated its iPhone app at FinovateSpring 2014 in San Jose. Learn more about the company from our Behind the Scenes feature published this earlier this year.

      Alumni News-- December 19, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMoney Facts looks at how TransferWise helps consumers save on money transfer fees.
      • Huffington Post features Matthew Goldman of Wallaby Financial in a conversation on credit card strategies for travelers.
      • PYMNTS.com interviews LoopPay Chief Technologist George Wallner.
      • A comparison between Stockholm and Silicon Valley in The Independent highlights Klarna.
      • Virtual Agent Chat checks in on post-acquisition IntelliResponse.
      • Cardflight's SwipeSimple joins MasterCard mPOS providers.
      • News.com.au reports: How Xero went from a scribbled figure on a serviette to a $2 billion company.
      • Crealogix and Meniga create Digital Bank and PFM Solution for BNP's Consors Bank.
      • peerTransfer named 2014 Winner of BostInno's 50 on Fire Award.
      • Forbes lists Holvi as 1 of 5 Finnish startups to watch.
      • Programmable Web considers how Open Bank Project's API brings more openness to banking internationally.
      • Ayondo launches ad campaign on 2 major German TV networks.
      • Business Insider features Betterment, Financial Guard, FutureAdvisor, Jemstep, Personal Capital, SigFig, TradeKing, and Wealthfront in a look at the growth of robo-advisors.
      • BrightScope releases its Top 30 401(k) Plans List.
      • Management Today profiles David Harrison, managing partner at True Potential.
      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 fintechfunding_license.jpg
      Buoyed by the $865 million raised in Lending Club's blockbuster IPO, fintech companies raised $1 billion last week. That was the largest amount since we began tracking in August. Granted, without the IPO, it was a more "normal" $135 million week. 

      Finovate alums accounted for all but $35 million of the total with Dynamics ($70 million), eToro ($27 million) and BehavioSec ($6 mil) joining Lending Club ($865). 

      Here are the deals from Dec. 6 to Dec 12: 

      Consumers loan marketplace
      Latest round: $865 million (IPO)
      Total raised: $1.25 billion (includes $50 million debt)
      Tags: Lending, P2P, person-to-person, loans, credit, investing, San Francisco, California, Finovate alum
      Source: Finovate

      Interactive plastic for credit & debit cards
      Latest round: $70 million
      Total raised: $110 million
      Tags: Credit/debit cards, plastic, EMV, MasterCard (investor), Pittsburgh, Pennsylvania, Finovate alum
      Source: Finovate

      FX social trading platform
      Latest round: $27 million
      Total raised: $61 million
      Tags: Investing, FX, mirror trading, Cyprus, Finovate alum
      Source: Finovate

      Consumer loan marketplace
      Latest round: $16 million
      Total raised: $100+ million
      Tags: Lending, direct, credit, underwriting, P2P, investing, San Francisco, California
      Source: Finovate

      Securing digital money
      Latest round: $12.5 million
      Total raised: $12.5+ million
      Tags: Bitcoin, cryptocurrency security, San Francisco, California
      Source: Crunchbase

      Biometric security 
      Latest round: $6 million
      Total raised: $8 million
      Tags: Security, biometrics, Luea, Sweden, Finovate alum
      Source: Finovate

      Japanese Bitcoin exchange
      Latest round: $2 million
      Total raised: $2 million
      Tags: Bitcoin, cryptocurrency, exchange, Japan
      Source: Crunchbase

      Online payroll solutions
      Latest round: $2 million
      Total raised: $2 million
      Tags: SMB, accounting, billing, Kitchner, Ontario, Canada
      Source: Crunchbase

      Real estate investing marketplace 
      Latest round: $1 million
      Total raised: $1 million
      Tags: Real estate, peer-to-peer lending, P2P, crowdfunding, investing, New York City
      Source: Crunchbase

      Hedge fund compliance 
      Latest round: $420,000
      Total raised: $420,000
      Tags: Investing, hedge funds, compliance, regulation, Boston, Massachusetts
      Source: Crunchbase

      Page365
      Invoice & billing services
      Latest round: $420,000
      Total raised: $420,000
      Tags: Bangkok, Thailand
      Source: FT Partners

      Retail investment management 
      Latest round: $250,000
      Total raised: $250,000
      Tags: Investing, advising, wealth management, Reston, Virginia
      Source: Crunchbase

      Bitcoin technologies & payments
      Latest round: $150,000
      Total raised: $150,000
      Tags: Cryptocurrency, SMB, merchants, payments, Palo Alto, California
      Source: Crunchbase

      Mobile payments & POS solutions
      Latest round: Undisclosed
      Total raised: Unknown
      Tags: Payments, mobile, SMB, merchants, acquiring, Brisbane, Australia
      Source: Crunchbase


      Thumbnail image for Thumbnail image for Thumbnail image for 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

      Draw up a list of the top fintech innovators of 2014. Got it? Now tell me how many of your top 50 companies are not just impressive companies in their respective fields, but Finovate alums, as well.

      If you are global accounting and consulting group, KPMG, then the answer is "more than half."

      Of the 50 companies recognized by KPMG in its 2014 review of top fintech innovators, 27 have demoed their technologies at Finovate conferences. And of that 27, 13 have won Best of Show at least once.

      50Fintechreport.jpg
      The inaugural "50 Best Fintech Innovators" report is a joint venture between AWI Ventures KPMG Australia and the Financial Services Council (FSC). 

      The companies chosen were selected based on four factors: total capital raised, rate of capital raising, degree of sub industry disruption, and "degree of product, service, customer experience and business model innovation." 

      Writing in an introduction to the report, AWI Limited CEO Ben Heap explained why fundraising played such a prominent part of the selection process.

      "These assessment criteria reflect the fact that venture capital invested is a relevant measure of innovation which in turn fuels enduring competitive advantage," he wrote. 

      "Venture capitalists seek this enduring competitive advantage over and above everything else."

      Here's a breakdown of Finovate alums in the list, in order of appearance, along with links to their most recent demo video. Boldface indicates Best of Show winner.

      "Ones to Watch" 
      See the full list of companies here.
      kashoo-logo.jpg

      You asked for it. You got it. Kashoo Accounting-Quick Entry on Android.

      Kashoo announced this week that its Quick Entry app that allows users to capture receipts and invoices while on the go is now available on the Android operating system. The app syncs in real-time to make the transition from mobile app to web app seamless.

      The app was built in a "companion style." This will make it easier for Kashoo to further develop the app based on feedback from customers.

      Kashoo_homepage.jpg
      Kashoo has more than 150,000 registered users of its cloud accounting software in more than 180 countries. The company has won accolades from the British Columbia Technology Industry Association, PC Magazine, MacWorld Business, and CPA Practice Advisor. In March, the company earned a spot on the ICT 2014 Ready to Rocket List.

      Learn more about Kashoo Accounting-Quick Entry on Android. 

      Founded in March 2008 and based in Vancouver, British Columbia, Kashoo demoed its technology at FinovateFall 2010. Jim Secord is CEO.
      CrealogixLogo.jpg

      Cortal Consors demonstrated at FinovateEurope 2011, when it was an online brokerage and investment company under BNP Paribas. It has since become Consors Bank, a German-based subsidiary bank of BNP Paribas.

      Launching a bank comes with a long to-do list-- one thatMenigaLogo.jpgincludes providing financial planning tools for your customers-- so Consors Bank has partnered with Meniga and Crealogix. Respectively, these fintech providers power spending and saving management tools, as well as a digital banking portal.

      The combined solutions offer Consors Bank customers an engaging user experience that fits with the bank's slogan, "mobile, just like you."

      Here's a look at some of the aspects of Meniga's PFM on Consors Bank's web portal:

      • Monthly spending comparison:

      ConsorsMonthlyComparison.jpg

      • Spending category overview:

      MenigaConsorsCategoryOverview.jpgIceland-based Meniga launched in 2009 and has since brought its white-label PFM platform to 25 banks across the globe. Meniga last demonstrated at FinovateEurope 2014 and will return to London next February for FinovateEurope 2015.

      Crealogix appeared on stage at FinovateSpring 2014 in San Jose and will also demo its new technology at FinovateEurope 2015 in London.

      Alumni News-- December 18, 2014

      • Thumbnail image for Thumbnail image for 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 Debuts: Knox Payments Leverages ACH to Reduce Payment Costs for Merchants.
      • Financial Times' Ian McKenna takes a look at his "gadget of the fortnight": True Potential Investor.
      • Wired.co.uk features digital fingerprinting technology from Trustev.
      • GoBank users now able to activate cards through banking app without starter kit.
      • FreeAgent expands Self Assessment filing to ease pain for SMEs.
      • Google Cloud Platform releasing SDK in Java for using Cloud Dataflow under an open-source license.
      • American Banker names online marketplace lending, such as Lending Club and Prosper, the innovation of the year.
      • InComm partners with Edenred UK, an employee benefits and solutions provider.
      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.

      KnoxLogo_BOX_FinDEVr2014.jpg

      The Finovate Debuts series introduces new Finovate alums. At FinovateFall 2014, Knox Payments demoed its platform that leverages ACH to provide cheaper, more efficient payment options for merchants.

      Knox Payments reduces interchange fees and cart abandonment with its cost-effective and fast checkout system.

      The Stats
        • Founded in February 2014
        • Headquartered in Richmond, Virginia
        • Raised more than $1.5 million in funding
        • 25 employees
        • 70 customers
        • Thomas Eide (CEO) and Thomas Nicholas (President) are co-founders
      Getting to Know Knox
      Sometimes innovation is a matter of using old tools in new ways. That may be one way to think about the innovation Knox has created.

      "We are reducing interchange costs by doing bank payments via ACH," explained Thomas Nicholas during a pre-FinovateFall 2014 conversation. Running payments through ACH has been possible conceptually, he adds. But until Knox's technology, the process was too cumbersome.

      Knox_homepage2.jpg
      "We get rid of barriers," Nicholas added. "Routing numbers, account numbers, verifications, and the wait time. We eliminate all that." The goal is to give merchants a payment system that is fast and efficient, lowers costs, and maintains a high level of security. All for 18 cents for payments more than $2. Transactions for less than $2 are free.

      One interesting aspect of Knox is that while the process cuts the card companies out of the picture, the use of ACH means that banks are front and center. Nicholas explained that one big issue is that consumers make credit card payments, but banks never have access to key e-commerce data embedded in those transactions. Knox changes that, by "bringing transactions back to the banks." They use the example of the technology deployed as part of a banking app and helping to increase customer engagement and loyalty as the app becomes a shopping tool. "Banks are going to be powering payments going forward," Nicholas said.

      The Technology
      Onboarding with Knox is a four-step process. Find and choose your bank from the list of currently supported FIs (23 banks supported as of this writing). Then login using the same login credentials you use with your online bank account and choose the specific account, checking or savings, to be used and the merchant is ready to begin processing payments

      "Usually signing up to accept payments is a really painful process," Nicholas said from the Finovate stage this fall. But with Knox we do it in a couple of minutes with just a couple of steps."

      Knox_AB.jpg
      Knox can also be used to quickly and cheaply fund accounts and digital wallets. The company's partnership with Forex.com (more on that below) will make it much easier for traders and investors on the foreign exchange trading platform add funds to their trading accounts. 

      Knox_CD.jpg
      Where Knox's technology shines is the way it negotiates the typical three to four-day payment lag in ACH transactions. Knox conducts a real-time balance check to assure funds are present, which allows it to provide next-day funding to the payee. "Knox is the only alternative to the credit card network that will actually underwrite transactions instantly for half a percent and 18 cents," Nicholas said.

      The Future
      There are 23 banks integrated right now - all US-based. But the company expects that number to grow into the hundreds soon. The technology itself is "very portable." Compliance and regulation remain the main barriers to speedier expansion. 

      Knox_FF2014stage.jpg
      (Above: Knox Payments President and Co-Founder, Thomas Nicholas demoing at FinovateFall 2014)

      Many of the company's earliest successes have been with currency-related companies - from forex brokerages to digital currency platforms. Knox announced a partnership to power the funding of trading accounts at forex broker Forex.com. With funding by credit card soon to be banned on forex platforms, and other funding options too slow and/or expensive, this service will be a time and money savings for FX traders.

      Knox is also working with digital currencies. Many payment processors can't risk-rate digital currencies, Nicholas said. But Knox's platform is "robust enough" to do the risk rating. To this end, Knox announced in October that it had formed a partnership with payment processor, Vogogo, that will make it easier its U.S. digital currency clients to accept payments from U.S. bank accounts. And a December agreement with ChangeTip will enable instant Bitcoin payments via ACH.

      As Knox sees it, businesses love credit cards because people know how to use them and the funds are guaranteed. Businesses love ACH because it's cheap. Knox takes what merchants love about cards and what they love about ACH and, with some of their own innovations added in, have created a compelling alternative, especially for digital currencies working their way into the mainstream. 



      Watch Knox Payments demo its platform at FinovateFall 2014.
      ondeck_logo_new.jpg

      Small business lending innovator OnDeck became a publicly traded company today, raising $200 million in an offering that valued the company at $1.3 billion.

      And like Lending Club, which launched its IPO last week, OnDeck saw its stock price above its anticipated range. Initially set for $16-18, shares of ONDK opened Wednesday morning on the New York Stock Exchange at $26.50 and traded as high as $28 by midday.

      OnDeck_CNBCshot.jpg
      OnDeck was founded in 2006 and specializes in providing loans to small businesses that are typically underserved by traditional lenders. What makes OnDeck unique is twofold: first, the company believes its proprietary methods do a better and faster job of identifying true creditworthiness than methods used historically by financial institutions. Second, OnDeck's lending capital comes from lines of credit secured from banks, as well as securization of its loan book.

      We shared some interesting metrics on OnDeck in November when the company announced its IPO plans. Additionally, OnDeck's loan originations have grown at a compound AGR of 127% from 2011 to 2013, and the company has experienced year-over-year growth of 171% in the first nine months of 2014. OnDeck has originated more than $1.7 billion in loans since inception in 2007.

      ondeck_homepage.jpg
      Coming on the heels of the Lending Club IPO, OnDeck public debut is putting a spotlight on the variety of fintech innovation being brought to market. And while increased scrutiny from investors and analysts will present challenges, it will also provide an opportunity to stimulate greater attention, interest and investment in the industry.

      Interviewed Wednesday morning on CNBC's "Squawk on the Street", OnDeck CEO Noah Breslow said, "It's a signature moment for financial technology. Public market investors have had no real way to invest in the disruption that's happening in banking. We think that both the Lending Club IPO and the OnDeck IPO represent in consumer and small business the two leaders in those respective markets."

      Lead underwriters of the offering were Bank of America, Deutsche Bank, Jeffries, JP Morgan Chase, Merrill Lynch, and Morgan Stanley. Based in New York, OnDeck was last on the Finovate stage in 2012 for FinovateSpring where it demoed its OnDeck Connect technology. This fall, the company participated in the inaugural FinDEVr conference in San Francisco, presenting its lending APIs.

      Alumni News-- December 17, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Jerusalem Post profiles Israeli startup, TipRanks.
      • CashStar Market Solution is now powering 150 promotions during this year's winter holiday season.
      • Enterprising Investor highlights Betterment, LearnVest, Motif Investing, Venmo, and Wealthfront in its column on Millennials and money.
      • TechZone 360 discusses CrowdFlower in a review of "What's Hot and What's Not on Data Science for 2015."
      • Yahoo! Finance features an interview with Rippleshot co-founder and CPO Yueyu Fu.
      • WingCash unveils Brand Cash, a digital currency that replaces merchant-specific gift and loyalty cards.
      • Financial Times profiles Betterment CEO and co-founder, Jon Stein.
      • After Manilla's demise, Mint launches bill pay and bill management platform.
      • Time, Inc partners with Coinbase to accept bitcoin for subscriptions to Fortune, Health, This Old House and Travel + Leisure.
      • Tradeshift to waive 30% revenue share from organizations that build apps to support the circular economy http://bit.ly/13cY6S6
      • Wealth Management looks at the human advisors behind Personal Capital and SigFig.
      • Money Talks News lists alternative lending sites to consider: Prosper, Lending Club, and Kabbage.
      • ID Analytics names Timothy Laughlin as new 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.

      The Finovate Debuts series introduces new Finovate alums. Today's feature is EyeLock, which demonstrated its myris eye scanning device at FinovateFall 2014.

      EyeLockLogo.jpg

      EyeLock links a user's password to their iris template, enabling them to log into their computer, websites, and applications by scanning their iris on the myris device.

      MyrisScreenLogin.jpg

      Stats

        • Headquartered in New York, NY
        • Founded 2006
        • Device cost: $280
        • Chance of a false iris match is 1 in 1.5 million

      The device
      myris is an iris-scanning device that plugs into the USB port on a user's computer and authenticates them by taking a video of their iris. EyeLock associates the iris template with a long and complex password.

      Upon first setting up their account on the device, users generate their unique iris ID, then select operating systems, websites, and applications they'd like to log into using myris. From then on, all they need to do to log into those sites is glance at the myris device.

      EyeLockmyris3.jpg

      EyeLock sells myris through different channels:

        • Directly to consumers (see Best Buy screenshot below)
        • To businesses for commercial use

      MyrisBestBuy.jpg

      Use cases
      With the myris application on their computer, combined with the hand-held device, users manage login permissions for myris, as well as multiple users for a single account.

      • Sites, applications, and operating system
      With the Sites tab, users scan their iris to log in automatically to websites such as Facebook and PayPal. The Applications tab enables users to securely log into applications such as Skype and Spotify, while the Operating System tab lets users opt to log into their computer using myris. EyeLock supports Windows, Linux, and Mac operating systems.

      Applications.jpg

      • Startup and settings

      With the Startup tab, the user selects which sites and applications to launch automatically upon turning on their computer. This Autolaunch feature lets users select any number of sites they would like to open simultaneously after authenticating themselves with myris.

      The Settings tab is exactly what it sounds like. Users download system updates, add and manage multiple user permissions for shared accounts, and view their account login history.

      Settings.jpg

      Benefits
      Since the user's iris is always with them and is exclusively theirs, myris eliminates the risk associated with lost, stolen or shared login credentials and ID cards. Additionally, scanning an iris is faster than typing in a username and password.

      In addition to the digital realm, eyeLock has products that authenticate users on a commercial level to allow access into physical barriers, such as restricted buildings or conference rooms. Check out Eyeswipe-Nano, Eyeswipe-Nano TS, nano NXT and HBOX

      EyeLock demonstrated its myris authentication device at FinovateFall 2014.

      mintlogo14.jpgIntuit's Mint launched Mint Bills, a bill pay and management platform today, along with a new logo and fresh identity. This comes months after Manilla shuttered, and after Intuit acquired Check (formerly Pageonce).

      Similar to what you may expect, the Mint Bills web platform allows users to search for and set up billers based on their zip code. The bill pay capability reminds users about upcoming bills, enables them to pay bills, or schedule a payment for the future.

      MintBillUpdate.jpg
      The mobile app is a complete revamp of Check's former bill pay app. Not only is the design new, but the registration process has been simplified and new bill categories were added.

      MintBillAlertMobile.jpg
      Interestingly, for Mint users, the platform is separate from the legacy Mint PFM we've known and loved since 2006. Mint users need to create a new account for Mint Bills. Things are a bit easier for Check users, however, who login with their existing credentials.


      MintBillsSignIn.jpg

      Mint Bills is available as an iOS and Android app, as well as on the web. 

      Mint demonstrated at the very first Finovate in 2007.

      D3_banking_logo.jpg

      Omnichannel digital bank innovator D3 Banking will offer iPay Consumer Bill Pay, courtesy of a new agreement with ProfitStars.

      D3 Banking CEO Mark Vipond sees the deal as a way to give financial institutions better control over both user experience and the data involved in money movement. In a statement, Vipond said that iPay Consumer Bill Pay will help his customers "optimize their brand positioning and value-added service offerings around transfers, bill pay and P2P payments."

      Here's what iPay Consumer Bill Pay does:
        • Supports single or recurring payments
        • Enables bill pay from multiple accounts
        • Enables expedited payments
        • Enables P2P payments
        • Enables users to receive bills electronically
      D3Banking_homepage.jpg
      D3 Banking specializes in an omnichannel approach to bring digital banking to financial institutions and their customers. The company's technology gives FIs the ability to provide a consistent, responsive experience for their customers whether they are on a smartphone, laptop, tablet, or desktop computer.

      Some metrics on D3 Banking:
        • Founded in 2007
        • Headquartered in Omaha, Nebraska
        • Has more than 225 financial institutions in the U.S. using its technology
      D3 Banking raised $7 million in venture funding in October, with reports that another $3 million was on the way. The company announced partnerships with Blackstone Technology and SHAZAM Network in June, and this spring demoed its digital services technology at FinovateSpring 2014 in San Jose.

      Alumni News-- December 16, 2014

      • Thumbnail image for Thumbnail image for 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 announces closing "six-figure eFLOW5 deal" with leading Asia-Pacific bank.
      • ACCESSbank to deploy turnkey insurance agency courtesy of Insuritas.
      • Klarna payment solution now integrated into ekmPowershop.
      • D3 Banking partners with ProfitStars to offer iPay Consumer Bill Pay.
      • Pymnts interviews Jingit, Spreedly, and TSYS CEOs on what they think will make or break 2015.
      • Pymnts: PayPal Loan Program to Compete with Lending Club.
      • ShopKeep gives free NFC reader to new customers wanting to accept ApplePay.
      • Finovate Debuts: EyeLock's Myris Device Authenticates Using Iris Identification.
      • Arroweye Solutions to Provide Debit and Prepaid Card Production to DMS Bank & Trust Ltd. 
      • ZenPayroll now lets companies match employees' charitable donations.
      • Arxan Integrates With IBM Security AppScan and Trusteer Products.
      • Mint launches bill pay and management platform.
      • Entersekt Receives Honorable Mention in 2014 Gartner Magic Quadrant for User Authentication.
      • Interactions closes strategic deal to acquire AT&T Watson speech recognition and natural language understanding platform.
      • Consumer Reports features AnchorID, Betterment, Blooom, EverSafe, FutureAdvisor, iQuantifi, MaxMyInterest, and Wealthfront in its column, "Bright Ideas for a Prosperous 2015."
      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.
      WingCashLogo_FF2014.jpg

      The Finovate Debuts series introduces new Finovate alums. WingCash demoed its "cash in the cloud" mobile wallet technology at FinovateFall 2014 in New York this fall.

      WingCash combines card payments and loyalty/gift value to provide a "cash in the cloud" mobile wallet solution.

      The Stats
        • Founded in November 2009
        • Headquartered in Lehi, Utah
        • Privately funded
        • Bradley Wilkes is CEO and President
      The Story
      Bradley Wilkes and the team from WingCash are out to solve a simple problem: relieving consumers of the burden of managing and using paper and plastic cards. For Wilkes, these cards are both inefficient and inconvenient. They can be easily lost or left behind. "Extra cards require extra swipes and extra time at the point of sale," added Wilkes.

      WingCash_homepage.jpg
      That's not to say that cards have no value - similar to cash, which is likely to stock around despite industry disruptions, cards are here to stay. WingCash is saying that there is a way to take the best parts of cash - speed and safety - and the best parts of cards - convenience and added value - and combine them into a single payments solution.

      The Technology
      WingCash is a system of cloud-based wallets that hold payment cards, currency, and brand cash. Wilkes refers to it as "cash in the cloud tied to a payment card."

      The payment card and currency aspects of the technology are straightforward. Brand cash is a technology that WingCash uses move move gift/loyalty card value from the plastic card to the app. And it is brand cash that eliminates the need for plastic gift and loyalty cards. All the value is on the app.

      This way, WingCash provides a seamless transition from earning a reward, paying for an item or service, and having that reward instantly applied to the transaction. The technology also updates rewards automatically, to enable consumers to enjoy rewards or loyalty points from another transaction that was completed only minutes before.

      WingCash_app1.jpg
      To use WingCash, a consumer loads cards onto his WingCash wallet app: payment cards, gift cards, rewards and loyalty cards, and so on, including, for example, a $5 gift card from the local deli. All of this, including the $5 value from the gift card, appear in the app.

      When it is time to pay, the customer hands the merchant one of the payment cards that is loaded on the app. When the card is swiped, the app will recognize that the customer has $5 in gift value (or brand cash) and ask if he wants it applied to the current transaction. If yes, the total amount due is adjust to reflect the subtracted gift card value, and all the customer has to do is sign when promoted and both transactions - the purchase and the application of the rewards points - are completed in a single swipe.

      "We now have cloud-based gift and loyalty inside of a mobile app for consumers," Wilkes said. "It's a smart app so consumers don't have to do anything more than enroll a card."

      Wingcash_FF2014stage.jpg
      (Above: left to right: Bradley Wilkes, CEO & President; Steve Curtis, VP & Director, Sales; Vilash Poovala, CTO, Clip)

      The Future
      A large part of WingCash's future is now. The company recently announced a partnership with Clip, a payment processor and merchant acquirer based in San Francisco and Mexico City. One of the reasons why the Mexican market was selected had to do with the relative prominence of cash compared to cards. "Cash is a bigger deal," Wilkes said. "Card penetration isn't as high."

      Vilash Poovala, co-founder and CTO of Clip, pointed to the specific way that WingCash connects all of the key pieces of the transaction: the rewards, the mobile app, and the merchant. "If a consumer adds a gift card to a mobile app, that doesn't solve for how that (app) will be accepted at the merchant," Poovala explained. "Plastic is ubiquitous and when you use your credit card, you should be able to tap into all of your gifts and rewards."

      Going forward, more partnerships are the plan, especially with acquirers and processors. "If you're an acquirer or a processor and you would like to have a custom app that drives differentiation of acquiring merchant accounts, and connecting with consumers in your own custom app," Wilkes said. "I'd encourage you to come and see us."



      Watch WingCash demonstrate its technology at FinovateFall 2014 in New York.

      Alumni News-- December 15, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSFGate column on the technology of mobile payments features thoughts from PayPal's Max Levchin and Loop's Will Graylin.
      • Stockpile teams up with Yodlee to provide Invest Your Change, Stock Purchasing and Gifting products.
      • American Banker takes a look at "post-IPO expectations" for newly-public Lending Club.
      • Golden Pacific Bank adds mobile remote deposit capture to its mobile banking offerings courtesy of Digital Insight.
      • National Association for Business Resources names Billhighway Best and Brightest Company to work for in 2014.
      • Time asks: What is Venmo?
      • Nine of the 15 fintech startups Forbes recommends watching in 2015 are Finovate and FinDEVr alums.
      • eWeek reports on Arxan Technology's mobile Runtime App Self Protection (RASP) enhancements.
      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.

      The Finovate Debuts series introduces new Finovate alums. Today's feature is TickSimth, which demonstrated TickVault and FixVault big data platforms at FinovateFall 2014.

      TickSmithLogoNew.jpg

      TickSmith's big data platforms, TickVault and FixVault help brokerage and trading companies make sense of their massive amounts of financial data.

      The Montreal-based company works with Six Financial to gather data on every trade, quote, instrument, and exchange globally. A single day of trading includes a few billion trade messages; TickSmith holds 6 years of this data and turns it into useable information.

      TickSmithHomepage.jpg

      Stats

        • Founded November 2012
        • Over a petabyte* in financial data under management

      The current process financial institutions have for managing their data is slow, costly, and takes a lot of time to set up. FixVault and TickVault provide a system for stock exchanges, brokerage firms, and regulators to manage their large amounts of data.

      Use cases

      1) Data on exchanges
      Users select which exchange they would like access to, along with the date of trades. Chi-X Canada, an ETF exchange, uses TickSmith to provide customers access to historical tick and order book trading information dating back to 2009.

      TickSmithNYSE.jpg

      2) News access
      Users filter and search the accumulation of 3 years of global news (1.2 billion headlines) and social media posts.

      TickSmithNewsHeadline.jpg

      3) Compliance
      TickSmith takes in hundreds of millions of trade messages daily. In the compliance section, users generate analytical reports from the data to find transactions from across the globe.

      TickSmithCompliance.jpg

      Benefits

      TickSmith offers institutions easy access to all of their data, regardless of the amount. This eliminates the need for a manual process to extract specific data, which can take weeks or months.

      It also provides the ability to extract meaning and value from the data, no matter how large or small. In seconds, it deciphers trends and computes reports for individual customers.

      The services are available on the web interface or via an API, as either cloud-based or a managed offering for hedge funds, exchanges, brokerage firms, and other financial institutions.

      To check out the live demo, watch the FinovateFall 2014 video.


      *For a better understanding of how large a petabyte is, the Financial Times offers this video.

      Alumni News-- December 12, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgQuantopian to offer fundamental equity data from Morningstar.
      • MicroStrategy to provide analytics solution to help developers build biometrical secured analytics solutions.
      • Banking Technology takes a look at the relationship between BBVA Compass and Dwolla.
      • Cointelegraph interviews AlphaPoint CEO Vadim Telyatnikov. See AlphaPoint at FinovateEurope 2015 in London.
      • Sedicii wins EY Startup Challenge. Come see them at FinovateEurope in February.
      • Forbes interviews Jacob Hansen, CrowdCurity co-founder.
      • Lifehacker awards Google Cloud with best cloud computing provider of 2014.
      • Check out the Finovate and FinDEVr alums listed in Currency Cloud's list of hottest fintech companies.
      • FreeAgent selected by Lloyds Banking Group for new SME toolbox.
      • In 2014, VerifyValid eChecks delivered $370+ mil in payments to 100k+ payees, an increase of 20k registered users.
      • Finovate Debuts: TickSmith's TickVault and FixVault Help FIs Put Their Big Data to Use.
      • Place2Give partners with Give A Mile to help them process cash donations.
      • VentureBeat interviews AppAnnie CEO, Bertrand Schmitt.
      • Apple Store Online Now Accepts PayPal In U.S. And U.K.
      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 LendingClubLogo.jpg

      P2P lending innovator Lending Club made its public debut on Thursday. After an initial overnight pricing at $15, shares of LC opened higher this morning by more than 64% before finishing their first day on the New York Stock Exchange at $23.43.

      The 57 million share offering raised more than $865 million for the San Francisco-based alternative lender, which now has a valuation of more than $8 billion. Lending Club CEO Renaud Laplanche, CEO and founder of the company, owns 4% of the company, a stake worth more than $200 million as of today's close.

      Lead underwriters for the IPO were JP Morgan, Goldman Sachs, Citigroup, and Credit Suisse.

      LendingClub_homepage2.jpg
      Lending Club's growth since its founding in 2007 has been impressive. Operating revenues grew from $1.3 million to $98 million in the four years from 2009 to 2013. In the first nine months of 2014, Lending Club's net revenues climbed to $143 million, more than double last year's mark. Since its founding, Lending Club has financed more than $6 billion in loans and investors on the platform have earned more than $590 million in interest.

      Here are a few more metrics for Lending Club:
        • Average customer FICO credit score: 660
        • Average interest rate is 14%
        • Maximum loan amount is $35,000
        • Terms typically range from 3-5 years
      LendingClub_CNBC.jpg
      (Above: Lending Club CEO Renaud Laplanche on CNBC)

      One of the under-discussed aspects of Lending Club's decision to become a public company is the fact that the platform will be available to a significantly larger number of Americans. Previously, access to Lending Club was a patchwork quilt of differing state regulations, with some states allowing borrowing from the service but not investing and others having the exact  opposite regulation (investing, but no borrowing). And there were some states were the service was not available at all. As a public company under federal regulations, Lending Club can operate in any state.

      Another interesting theme of the Lending Club IPO is the way it will be seen as a test of the public investor's appetite for what Mad Money's Jim Cramer referred to as "crowdsourced lending" in his discussion of the company. Alternative lender OnDeck, which specializes in small business lending, is scheduled to go public within days in an effort to raise between $150 and $180 million. Others see the Lending Club IPO as potential validation of broader interest in fintech innovators as a whole.

      Lending Club demoed its technology as part of the inaugural Finovate conference in 2007 and again in 2009 for Finovate Startup. Read our CEO interview with Renaud Laplanche.

      Alumni News-- December 11, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMalauzai Software announces launch of its SmartMarketing program to promote mobile banking.
      • Azimo extends £1 money transfer service to India, Pakistan, Bangladesh, and Sri Lanka.
      • Information Week takes a look at mobile payment apps including Flint.
      • Mortgage Harmony rebrands as Rate Reset.
      • Contact Solutions, IDology, and Pindrop Security team up to Cut IVR Fraud.
      • Examiner.com: Dynamics' next-generation credit card features buttons to log-in PIN security code.
      • Lendio CEO explains how his company is fueling the American dream.
      • Prosper comments on Lending Club IPO, expects to top $9 billion in loans this year.
      • PayNearMe partners with Department of Health and Human Services to spread the word about healthcare.
      • Bluefin Payment Systems to provide its PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.
      • Career Bliss lists PayPal, Intuit, and Google in the top 50 happiest companies in the U.S.
      • Lending Club launches IPO, shares rally 70% in early trading.
      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.
      eMoneyAdvisorLogo_FF2014.jpg

      The Finovate Debuts series introduces new Finovate alums. At FinovateFall 2014, eMoney Advisor demoed its EMX platform, an upgraded version of their wealth-planning system for financial advisors.

      The Stats

        • Founded in 2000
        • Headquartered in Conshohocken, Pennsylvania
        • Aggregates more than $1 trillion in client assets over more than 875,000 accounts
        • Clients include TD Ameritrade, RBC Wealth Management, New York Life, and LPL Financial
        • Works with 46 of the top 50 broker dealers
        • Edmond Walters is CEO and founder
      The Story
      Kyle Wharton, who handles Business Development for eMoney Advisor, explained the key differentiator between his company's technology and the world of robo-advisors this way: 

      "There are a lot of companies that are trying to disintermediate the advisor," said Wharton. "We are trying to empower the advisor."

      The more you learn about eMoney Advisor, the more you realize how much automation is making investment advice easier to produce by advisors and more accessible to clients. You also realize that there is still a role for human advisors, especially when equipped with a new generation of technical tools that can help them do their jobs better.

      eMoneyAdvisors_homepage.jpg
      eMoney Advisor was founded by Edmond Walters, a veteran financial advisor. His initial idea was to build a personal financial management tool that could be used with clients. But as the project developed, and he began to take feedback, it became clear that the project had a much larger, broader destiny than PFM.

      "PFM was probably too early," Wharton explained. "There was a niche need among clients. But the need was not very strong." Instead, issues like insurance and wealth planning loomed larger as concerns for a broader base of clients.

      To this end, eMoney's demo at FinovateFall was, as Wharton calls it, "both a rebirth and rebranding" of the platform. The new platform, EMX ("the eMoney Experience"), introduced in New York last fall is due out in mid-December.

      The Technology
      In building the new platform, the company focused on leveraging third-party integrations and ensuring ease of use. The goal is to help financial advisors serve their clients and build better relationships based on collaboration and transparency. To this end much of the functionality in EMX is geared toward promoting interactivity. This includes screen sharing features, an easy-to-read interface, and a client portal that an advisor's clients can access at any time to view or print a report on their finances.

      Below shows the main interface, providing at a glance information on assets under management, client non-held accounts, top holdings by net value change for the day, and more. The page also features a Financial Feed - "a Facebook or Twitter feed for your book of business" - that provides advisors with everything from alerts, alarms, tasks, and news. eMoney Advisor is working to include data feeds from sources like MorningStar, which will help advisors, for example, see and understand how an upcoming earnings release from Microsoft may impact his or her client's holdings.

      eMoneyAdvisor_FF2014stage1.jpg

      The platform has a number of portals that allow financial advisors to quickly see a client's net worth, investments, asset allocation and more. The platform lets advisors run reports including ad hoc performance reports, and includes 200 predesigned reports that are updated nightly. A Facts Portal allows for speedy onboarding, whether the advisor is working solo or with a client present. The platform has both a presentation mode and screen sharing functionality to make it easy for advisors and their clients to collaborate.

      The Plans Portal, according to Wharton, is where the advisor can "show off." This analytics section gives the advisor the ability to run simulations, adding and exchanging different financial scenarios to see what net effect different financial assumptions have on the overall financial picture. The platform also has an online storage vault for keeping financial plans and records.

      eMoneyAdvisor_FF2014stage3.jpg

      Another way of appreciating the collaborative, transparency-focus on the new platform from eMoney Advisor is via the Client Portal. This shows account information, net worth, investments, insurance, budgets, spending ... everything from wealth management to the most basic personal finance management features are here. In addition to providing a lot of transparency for clients, advisors can also take advantage of the portal to conduct tasks like aggregating held-away accounts. 

      Analytics are the other key feature in EMX. Typically, advisors have to work with more than one program in order to compile the analytic data on their clients. EMX gives the data back to the advisor in a way that is easy to read, understand, and act on. Seeing assets by account type, or clients by age group, or ratios between managed and held away accounts can give advisors insights into their advisory business that might otherwise be difficult to see. And all of this contributes toward the goal of helping advisors leverage technology to help people more efficiently.

      "It's really mixing the art and the science," said Kyle Wharton from the Finovate stage last fall. "It's the value of the financial advisor, the expertise of that financial advisor, the knowledge of that financial advisor mixed in with our technology.

      The Future
      eMoney Advisor looks to help financial advisors not just use technology, but use technology differently, through interactive planning tools, screen sharing functionality, and similar features. "It's about coaching and validation," he explained. "You need a human being to ask 'What do YOU think about this.'"

      eMoneyAdvisor_FF2014Stage2.jpg
      (Above: Kyle Wharton, Business Development, right, and Chad Porche, Development)

      So far so good. The company partnered with HiddenLevers, a portfolio stress testing platform, in November. And also that month announced that it has surpassed $1.4 trillion in investable assets managed by the 25,000 financial professionals using the platform. All of this is strong momentum leading up to the official launch of eMoney Advisor's EMX platform in December.

      "What eMoney does better than any other software on the market is make the advisor/client relationship collaborative, transparent and efficient," said founder and CEO Walters in a recent statement. "Not only does this provide eMoney with an opportunity for sustained long-term growth, it also positions advisors and their clients for greater success in the future."



      Watch eMoney Advisor demonstrate EMX at FinovateFall 2014.

      eToro Raises $27 Million in New Funding

      Thumbnail image for eToroLogo.jpg

      In a round led by Chinese venture capital firm, Ping An Ventures, and SBT Venture Capital, social trading and investment network eToro has raised $27 million in new financing.

      The funding takes eToro's total capital to more than $60 million. Existing investors BRM Group and Spark Capital were also involved in the round.

      etoro_homepage.jpg
      eToro CEO Yoni Assia pointed to the "deep industry knowledge" as one of the non-monetary benefits of the new investment. "We share a vision to empower retail investors all over the world to trade and invest in a social and transparent way."

      Mircea Mihaescu, managing partner of SBT Venture Capital, agrees with Assia's optimism when it comes to social investing, suggesting that it is "part of a revolution started by eToro." "eToro has become synonymous with financial innovation among members of Gen Y all over the world," Mihaescu added.

      The capital will help eToro accelerate expansion plans, particularly to new regions like China and Russia. SBT Venture Capital's main partner is Sberbank, the largest bank in Russia and the third largest in Europe.

      eToro_FF12stage.jpg
      (Above: eToro CEO Yoni Assia demoing at FinovateFall 2012 in New York.)

      eToro has four million registered users in more than 140 countries using its trading and investing platform. The company's social trading approach allows users to leverage the knowledge, talent, and experience of the network's best traders and investors, while encouraging investing transparency, education, and even enjoyment.

      Recent news from the company includes the addition of native sharing to its update to OpenBook for Android in October, having brought a new iOS version of the platform to market in July. In June, eToro joined four other Finovate alums on FN's 40 Fintech Leaders list.

      eToro (FinovateFall 2012) is based in Limassol, Cyprus, with a corporate office in London. The company was founded in 2007. 

      Alumni News-- December 10, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNCR to sell new mobile imaging solutions from Mitek.
      • Backbase teams up with Accenture to help FIs improve customer engagement through digital channels.
      • Dwolla announces role as payment partner for Microsoft for Government initiative.
      • Australia-based ME Bank deploys core banking system, business intelligence, and anti-money laundering solutions from Temenos.
      • MasterCard launches MasterPass in France and Russia.
      • Finovate Debuts: eMoney Advisor Provides Financial Advisors with a Suite of New Planning Tools.
      • Independent Financial Advisor takes a look at Motif Investing and Wealthfront.
      • Xero reaches 400,000 paying customers.
      • Entersekt responds to FIDO Alliance's U2F specifications with its FIDO U2F-enabled authentication solution, Transakt.
      • Fintech for the Rest of Us blog mentions PayStand over PayPal and Stripe for bitcoin payments.
      • PayItSimple integrates with 30 more payment gateways in collaboration with Spreedly now integrated with approximately 70% of all gateways in the US.
      • Payfone and Early Warning partner on mobile authentication. 
      • Marlborough Savings Bank now offers Kasasa to enhance checking account offering.
      • Spend Matters reports: Receivables Exchange the largest of the Online Invoice Auction Exchanges.
      • Arxan announces enhanced mobile runtime app self protection (RASP) capabilities.
      • Lendio named One of Utah's Best Companies to Work For 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.
      BehavioSecLogoFEU14.jpg

      In the past few years, we've witnessed the evolution of security beyond usernames and passwords. Founded in 2009, BehavioSec is one of the forerunners of this trend; making security invisible to the end user.

      Today, the Swedish company announced $6.2 million (€5 million) round led by Northzone and Octopus Investments. Existing investors, Conor Venture Partners and Partner Invest Norr, also contributed.

      A 2011 installment of $500k and a 2008 round of $1.2 million bring BehavioSec's total funding to almost $8 million.

      BehavioSec plans to use the funds to:

        • Accelerate international growth
        • Expand presence in the U.K. and U.S.
        • Support existing clients
        • Invest further in existing products
      BehavioSec3.jpg

      The uptick in recent security hacks has brought about increased approval for the use of biometrics. From Apple's TouchID to Nymi's Nymi Band, companies and customers are growing accustomed to using physical assets for authentication. BehavioSec takes a slightly different approach. Instead of authenticating using a person's physical attributes, it verifies an identity by passively observing how they interact with their device.

      This week, BehavioSec welcomes three new board members: Simon Andrews of Octopus, Bjorn Stray of Northzone and Chris Barchak of Conor Venture Partners.

      BehavioSec has won awards most recently at FinovateEurope 2014 and FinDEVr. It has won Best of Show at FinovateAsia 2013 and FinovateSpring 2012.

      Alumni News-- December 9, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCachet Financial Solutions to offer Mitek's Mobile Photo Account Opening SaaS suite.
      • CrowdFlower CEO Lukas Biewald writes personally about the relationship between startups and their boards of directors.
      • Investor Junkie reviews roboadvisor, iQuantifi.
      • Knox Payments partners with ChangeTip to support bitcoin transaction via ACH.
      • Yodlee introduces transaction data enrichment service.
      • Fox News compares funding of Wealthfront, Personal Capital, Betterment, and SigFig.
      • Blackhawk Network's closed loop gift cards available at some USPS locations.
      • VentureBeat: App Annie now tracks stats from Windows and Windows Phone stores.
      • SecondMarket wins 48,000 Bitcoin in U.S. Marshals auction.
      • Actiance extends security capabilities to email.
      • TechCrunch: Trustev Uses Fraud Detection Software to Crack Down on Internet Trolls.
      • Dashlane launches one-click password changer.
      • BehavioSec Lands $6 Million Led by Northzone and Octopus Investments.
      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 DynamicsLogo1.jpg

      "There's a great future in plastics. Think about it. Will you think about it?"

      --Walter Brooke, The Graduate

      Dynamics announced today that it had completed a Series C investment round, raising $70 million from new and existing investors. Along with MasterCard is new investor, Canadian Imperial Bank of Commerce, both of which teamed up with existing investors, Adams Capital Management and Bain Capital Ventures. 

      The total capital for Dynamics is now more than $110 million.

      In addition to the investment, MasterCard will enter a joint commercial initiative with Dynamics to bring the company's cards to businesses in Mastercard's global payments network as well as CIBC's customers. 

      Dynamics_Mastercard_homepage.jpg
      It is interesting to hear the way MasterCard and CIBC executives talk about the card technology from Dynamics. For these companies, as far as commerce is concerned, plastic cards and smart devices have more in common than some may think.

      Carlos Menendez, group executive for global credit and debit products for MasterCard talked about the importance of turning "every device" into a "commerce device." "This not only includes a shift to mobile-based payments but also a move from 'static' plastic to 'dynamic' interactive payment cards and systems," he said. A senior executive with CIBC added that the partnership with Dynamics was "already having a positive impact."

      What makes Dynamics unique is the fact that the company is the definition of a one-stop shop. As CEO Jeff Mullen explained from the stage at FinovateFall 2014 in New York last September: "We have the only facility in payments that actually does device design, device manufacturing, PCI compliant network-certified processing personalization fulfillment all under one roof."

      JeffMullen_DynamicsFF2014stage.jpg
      (Above: Jeff Mullen, CEO of Dynamics at FinovateFall 2014)

      "And when you can do it all under one roof," he said. "You start to see things, and it allows you to really take innovation to the next level."

      Dynamics innovations have included a battery-powered card that enabled consumers to change the data stored on their EMV chip simply by pushing buttons on the card itself, a system that provides loyalty rewards on credit transactions faster by using the credit transaction data itself and, most recently, the first multi-network card that combines both innovations.

      Founded in 2007 and headquartered in Pittsburgh, Pennsylvania, Dynamics has won multiple Best of Show awards for its card technology. The company's last Finovate appearance was at FinovateFall 2014 in New York.

      Alumni News-- December 8, 2014

      • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFifth Third Bank chooses FIS' C2P Open Payments Platform.
      • Azimo announces £1 instant money transfers to 15 countries in Latin America.
      • Mobile Payments Today takes a look at the mobile checkbook app from VerifyValid.
      • WePay picks Google Cloud Platform as its new hosting provider.
      • VentureBeat features Nymi as a physical password solution.
      •  TSYS recognized in The Civic 50, an initiative that recognizes companies for improving the quality of life in their communities.
      • OnDeck ranked 21 on Crain's NY Business Best Places to Work 2014.
      • Huffington Post interviews OnDeck's Andrea Gellert.
      • TD Ameritrade has the #1 trading app in the Apple app store.
      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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