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

Blog

TopicsTopics   TopicsArchives  

FinovateFall 2014 Sneak Peek: Part 5

FinovateFallWithDateLogo

After resting up over the weekend, we hope you're ready to take a look at six more companies that will demo their newest fintech creation in New York City at FinovateFall this September 23 and 24.

Over the course of the past few weeks, we've seen:

Don't miss out; get your ticket here to be a part of the action.



BCSGLogo2.jpg
Business Centric Services Group (BCSG) is a cloud- services brokerage offering business apps for small businesses via FIs with a platform reaching over 4 million SMBs worldwide.

Features:

    • Modularized platform that allows FIs to tailor their offering
    • 24x7 support for SMBs on all apps
    • Client support: from proposition design, to go-to-market strategy, to ongoing delivery
Why it's great:

Its platform will continue to evolve with the market. Whatever it does, it will always start with the small business need.

JohnDavisBCSG
Presenters:

1) John Davis, Managing Director
Prior to BCSG Davis spent 10 years at Barclays where he was Marketing and Product Director for Barclays Business, and also Managing Director of Clearlybusiness.


AndrewBCSG
2) Andrew Garney, Commercial Manager
Before joining BCSG Garney held various technical and project delivery roles at Hewlett Packard Enterprise Services and De La Rue.






DieboldZenmonics
Diebold's evolution of Relationship Banking lowers the costs of self-service channels in the branch, combined with a seamless extension of tablet-based Sales, Servicing and Account Opening

Features:

    • Advanced teller transactions moved to self-service terminals
    • Personalized Account Opening, Sales & Service via Tablet
    • Shared customer history and product promotion across channels

Why it's great:

Diebold furnishes the ability to effectively identify, engage, service and anticipate the needs of customers across your self-service and assisted channels will differentiate your brand.

Presenters:

1) Shelly Ewing, New Business and Solution Incubation for Diebold  

2) Chris Siemasko, SVP Product Solutions for Zenmonics  



LarkyLogo
Larky delivers engagement and loyalty through a unique platform that provides point-of-sale discounts at local and national merchants and magically reminds users of offers at the right time and place.

Features:

    • Location-triggered alerts when a discount is near
    • Tracks 2,000+ memberships. Users never miss an offer they deserve (including yours!)
    • White-labeled platform seamlessly ties in with your brand
Why it's great:

Imagine proactive notifications, served at the right time and place that save your audience money at local and national merchants throughout their daily life. That's Larky.

AndrewBankLarky
Presenter:

Andrew Bank, Co-Founder
Successful start-up entrepreneur with substantial experience identifying and developing products, services, and business relationships with high ROI. Passion for creating compelling new solutions.



MaxMyInterestLogo
MaxMyInterest by Six Trees Capital LLC is an intelligent cash-management solution that helps investors earn up to 0.80% more on FDIC-insured bank deposits, rebalancing funds automatically as rates change.

Features:

    • Earn up to 0.80% more on cash without changing your checking account
    • Get the best interest rates, automatically, even as rates change
    • Funds move to and from checking as needed
Why it's great: 

Max brings efficiency and transparency to the $12 trillion market for cash, making it easy for investors to securely and effortlessly increase the yield on the cash portion of their portfolios.

MaxInterestGary
Presenters:

1) Gary Zimmerman, Founder and Chief Executive Officer
Zimmerman is an investor and entrepreneur, focused on financial technology. Prior to founding MaxMyInterest, he was an investment banker at Citigroup. He graduated from Harvard University with a degree in economics.


MaxInterestRichard
2) Richard Wu, Director of Engineering
Wu leads the technology development team and is an expert in interface design. He graduated from the University of Illinois at Chicago with a degree in Computer Engineering.  






SonavationLogo
Sonavation empowers trust through ultrasound technology by creating more secure environments in which to access sensitive financial data, conduct non-cash transactions and offer peace of mind.

Features:

    • Impenetrable security using ultrasound technology and cloud-based Identity-as-a-service infrastructure
    • Protection of sensitive banking information
    • ATM, credit and debit card protection
Why it's great:

Sonavation is on a mission to replace passwords and PINs with highly secure biometric solutions, leveraging the power of ultrasound to deliver piece of mind.

BobStewart
Presenter:

Bob Stewart, Chief Operating Officer
Stewart is the Chief Operating Officer at Sonavation, currently focused on delivering the convergence of physical and cyber security.




TickSmithlogo
TickSmith has built the first commercial Big Data platform for financial data.

Features:

    • Powerful and scalable Big Data technology and analytics
    • Management of all types of financial data
    • Solve compliance, reporting, analytics and distribution problems on huge data sets
Why it's great:

TickSmith provides out-of-the-box, previously unavailable possibilities to exploit financial big data.

FrancisWenzel
Presenters:

1) Francis Wenzel, CEO
Seasoned financial data and technology executive and entrepreneur with 28 years of experience.
LinkedIn




DavidCote
2) David David Côté, CIO
Entrepreneur, consultant and IT Architect with 17 years of experience developing, architecting, deploying and running technology solutions and infrastructure for banks, travel and IT companies.
LinkedIn







Check back this Thursday to see another six companies that will demo at FinovateFall 2014.

KofaxLogolarge.jpg

Mobile imaging software company, Kofax, recently announced it acquired Softpro, a company that specializes in fraud prevention and e-signature, for $35 million.

As part of the deal, California-based Kofax paid Germany-based Softpro $31.2 million in cash when the transaction closed on Monday. To complete the purchase, it will pay the remaining $3.5 million in three batches over the next two years.

KofaxScreenshot

Softpro's e-signature software, SignDoc, processes 200 million electronic signatures every year, and boasts two major features:

1) Click-to-sign
2) Physical signature capture

With SignDoc added to Kofax's quiver, services that require a contract, such as account opening, loan or mortgage applications, can be carried out entirely on the digital channel.

Kofax last presented at FinovateSpring 2014 where it debuted its retail gift card balance solution.

amp_logo_LI

The 2014 FinTech Innovation Lab Asia Pacific has announced the latest set of fintech startups to participate in its accelerator program. And FinovateAsia 2013 alum Advanced Merchant Payments is among them.

Advanced Merchant Payments specializes in providing short-term, unsecured financing for small and medium-sized businesses. AMP also provides SMEs with accounts receivable financing and cash-flow management services. Loans can be approved as quickly as five days, and terms typically range from 90, 180, 270, or 360 days. The company lends to a variety of businesses in Singapore, Hong Kong, and the Philippines, from retailers and wholesalers to contractors and equipment providers.

AMP_homepage
The Innovation Lab was developed by Accenture and launched in June of this year. The program is geared toward "early-state" companies with technologies designed for the Asia Pacific market. The program lasts for 12 weeks and includes mentoring, panel discussions, and workshops led by industry veterans and fintech professionals - as well as networking opportunities for incubator participants.

Sushil Saluja, senior managing director for Financial Services at Accenture suggested that the kind of technologies chosen by the lab selection committee are indicative of the kind of solutions FIs and customers alike are looking for. Saluja pointed specifically to "data security, analysis, and risk assessment" as areas where innovation could "make a real difference in the everyday lives of people" in the region.

Joining Advanced Merchant Payments will be:

    • AtCipher.com
    • Beijing Wecash Wonder Technology
    • FinSuite
    • I Think Security
    • iDGate
    • Jocata Financial Advisory & Technology Services
    • OxBranch.
Among the FIs supporting the FinTech Innovation Lab are Bank of America, Bank of China (Hong Kong), Barclays, China Construction Bank (Asia), Credit Suisse, DBS, HSBC, J.P. Morgan, Merrill Lynch, Morgan Stanley, Ping An, and UBS.

Based in Hong Kong and founded in 2009, Advanced Merchant Payments has provided more than $25 million USD in loans to small businesses. The company demoed its technology at FinovateAsia 2013. See a demo of Advanced Merchant Payments at work here.

Alumni News-- September 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMobile payments app from BBVA earns more than 250,000 downloads since launch last December in Spain.
  • Knox Payments picks up $625,000 in venture round funding. See them demo at FinovateFall 2014 in New York this month.
  • Issuer Direct chooses Top Image Systems to drive incoming document automation.
  • P2P lender, SocietyOne, to offer free credit scores to customers.
  • Micronotes' Cross-Sell interview marketing platform now automatically reports Net Promoter Score.
  • Advanced Merchant Payments 1 of 8 fintech startups to enter the FinTech Innovation Lab in Asia-Pacific.
  • Jumio and IDology announce partnership to enable verification via government-issued ID in card-not-present situations.
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.

MatchiLogoFEU14.jpg

Banks have problems. Innovators have answers. This is the way that Johannesburg-based Matchi, the online platform that pairs banks with relevant innovations, sees things.

Here at Finovate, fintech innovation is always on our minds, so we wanted to interview David Milligan, CEO of Matchi. Milligan has a passion for

DavidMilligan
innovation and has headed a number of innovation and new business units throughout his career. He has served as Matchi's CEO since January of 2014. You can check out his LinkedIn profile here.



Finovate: Where did the idea for Matchi, a platform that matches banks with innovations, come from?
Milligan: The idea for Matchi came as a direct result of challenges encountered by our co-founder Warren Bond and me, in our respective histories. I ran innovation and new venture business units in a large bank for over 10 years, and Warren successfully launched and licensed technologies to banks. Both of us experienced first-hand how banks can benefit from working with smaller, more innovative fintech firms, but also how hard it is and how long it can take to do a deal with a bank.  

On the other side of the table, banks need consistent and clear approaches for sourcing and evaluating possible innovations, and anything that can extend their reach and help them find the next right thing is of great benefit. We realized that a global innovation platform that would assist innovators to reach the right people in banks globally, without having to pay high marketing costs, would fulfill a clear market need.
 
Finovate: What are the top three ways in which Matchi benefits banks?
Milligan: The top three ways Matchi benefits banks are:

    1. Connecting banks to the best innovations from around the world and giving them a way to curate
    2. Pro-active matching of innovations in the market in accordance to banks' priorities   
    3. Banks can negotiate fees directly with innovators                    
MatchiScreenshot
 
Finovate: What trends are you seeing in fintech innovations?
Milligan: We have noticed an increasing demand for innovations that are designed for banks' core purposes such as:

    • Managing and granting credit
    • Opening new accounts
    • Security solutions
Finovate: What types of metrics can you share? 
Milligan: We've doubled the number of banks on the platform since January of this year. To date, 30 banks from around the world have signed up as Matchi members, including banks from Europe, U.S.A., Asia, Australia, and Africa. This includes 3 Sponsor Banks across Spain, Sub-Saharan Africa, and Israel. 

Additionally, we are currently signing three to four fintech firms a week which ensures our banks regularly receive interesting value propositions.

Finovate: What's the next development for Matchi?
Milligan: Increased functionality for Sponsor Banks as well as exciting new opportunities for innovators to respond to specific challenges as set by our Member Banks. We are also looking at developing Innovation Simulations for the workplace and will be hosting our first Innovation Sponsor Summit in December this year.
 
Finovate: What is your personal favorite innovation on the Matchi platform?
Milligan: There are many great innovations on our platform that span so many different areas, but one of my favorites is a solution that helps to prevent card fraud in a very unusual way.


To learn more about Matchi, check out its demo video from FinovateEurope 2014 or come see its new technology at FinovateFall 2014 in New York.
The last week of August was somewhat slower, but still included 10 new rounds, 3 of which went to Finovate alums. The total raised was $39.5 million. August concludes with a whopping $410 million raised, $215 million in equity and $200 million in debt (see previous posts for details). 

---------------

Equity raised in order of deal size (22 Aug through 28 Aug 2014):

Financial services kiosks
Latest round: $25 million
Total funding: Unknown
Tags: Unbanked, kiosks, billpay, card issuing, prepaid, Florida
Source: FT Partners

Ayondo
Social trading platform
Latest round: $4 million
Total raised: More than $4 million
Tags: Investing, social trading, Germany, Finovate alum
Source: Finovate

Korean bitcoin exchange
Latest round: $3 million
Total funding: $4 million
Tags: Cryptocurrency, bitcoin, payments, Korea
Source: Crunchbase 

Socure
Identity-management technology
Latest round: $2.5 million
Total funding: $6.7 million
Tags: Security, identity protection, New York, Finovate alum
Source: Crunchbase

Investment property lender
Latest round: $1.8 million
Total funding: $6.5 million (includes $4.7 million in debt)
Tags: Lending, credit, mortgage, real estate, Texas
Source: Crunchbase

Turkish online payments provider
Latest round: $1.4 million
Total funding: $3.2 million
Tags: Payments, mobile, online, cards, Turkey
Source: Crunchbase 

Knox Payments (See them debut at FinovateFall 2014 - 23/24 Sep)
Latest round: $625,000
Total funding: $1.6 million
Tags: Payments, acquiring, Virginia, Finovate alum
Source: FT Partners

Japanese digital invoicing startup
Latest round: $600,000
Total funding: $600,000
Tags: Invoicing, accounting, SMB, Japan
Source: Crunchbase 

Valuations of small and medium private businesses
Latest round: $300,000
Total raised: $400,000
Tags: SMB, business, investing, Netherlands
Source: Crunchbase 

Real estate virtual tour platform
Latest round: $300,000
Total funding: $300,000
Tags: Real estate, marketing, design, Chicago
Source: Crunchbase

Kudos to online RIA innovator blooom for doing its part to get the word out about its "new way to 401(k)" and FinovateFall 2014, coming to New York on September 23 and 24 in this new video.

blooom_videoshot
Join blooom and 69 other fintech companies for what is looking like our biggest FinovateFall to date. Get your tickets here.
KnoxPaymentslogo

According to a S-1 filed at the SEC, Knox Payments earned an investment of $625,000 in venture round funding this month.

The venture round takes the company's total capital raised to $1.6 million.

Knox Payments gives merchants the ability to accept payments via ACH without requiring disclosure of bank routing and account numbers. With instant account and "sufficient funds" verification, the service costs merchants less than twenty cents per transaction. Credit card companies, by comparison, charge as much as 30 cents per transaction, plus a 3% fee.
Knox_homepage
Knox Payments will make its Finovate debut at FinovateFall 2014 in New York September 23 and 24. To find out more about this year's event - including how to get your tickets - vist our FinovateFall 2014 page.

Alumni News-- August 29, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHeckyl to provide real-time news and data analytics courtesy of new partnership with Marketware International.
  • Diebold brings deposit automation and cash recycling services to consumers and FIs in Brazil. See Diebold at FinovateFall in September.
  • Dwolla makes MassPay official, offers a simpler experience with increased stability, improved reporting, and increased transactions per batch.
  • PYMNTS talks with SumUp CEO Daniel Klein, to understand how it views innovation in the mPOS space.
  • PayPal launches tool, PayPal Demo, to help developers show merchants the difference between different PayPal payment options.
  • CNBC's National Business Report interviews Scott Goldman, CEO of TextPower.
  • American Banker profiles FinovateSpring 2014 Best of Show winner, Stockpile.
  • CNET takes a look at Lending Club in the wake of the company's IPO filing.
    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.

    FinovateFall 2014 Sneak Peek: Part 4

    FinovateFallWithDateLogo

    Three installments of our FinovateFall 2014 Sneak Peek series are already in the books. But we've still got plenty of companies to introduce you to in the weeks leading up to what promises to be our largest FinovateFall event to date. If you haven't gotten your tickets yet, click here to save your spot today.

    Before we get started, here are some links to our previous Sneak Peeks to help get you up-to-date.

    And now, meet FamDoo, iQuantifi, mCASH, PayItSimple, Toopher, and WorkFusion.



    FamDoo_logoff2014
    FamDoo develops life-ready kids one task at a time. The Modern Allowance is a proven loyalty-based system armed with current technology and strategic partnerships.

    Features:

    • The Modern Allowance is an applied learning approach to financial literacy
    • New technology brings families together
    • Family currency rewards kids for a job well done
    Why it's great:

    FamDoo is an exciting new tool for the family, raising the next generation of fiscal consumers now. Gain access through a strategic partnership with FamDoo.

    Presenters:

    MarkFamDoo
    1) Mark Lacek, Co-Founder and CEO
    Co-developed, enhanced one of the first loyalty programs for the airline industry: Northwest Airline's WorldPerks, frequent flyer program. Designed and managed additional global loyalty programs.




    2) Mystery Guest



    iQuantifi Logo DePalma d4
    iQuantifi is a virtual financial advisor that provides comprehensive and personalized advice to users based on their goals and resources.

    Features:

    • Helps you free up cash in your budget to fund your goals
    • Shows you multiple ways to accomplish your goals
    Why it's great: 

    We provide a comprehensive financial plan with investment advice that instantly adapts to your life as it changes.

    Presenters:

    tomwhite_iquantififf2014
    1) Tom White, Founder and CEO
    Tom has been a financial planner and investment advisor for over 17 years and in that time he has built and sold two investment advisory firms.






    Karenwhite_iquantififf2014
    2) Karen White, Co-Founder and Chief Product Officer
    Karen has been designing and building products for over 20 years with the majority of her experience spanning the financial and education fields.







    Print
    mCASH is a unique payment infrastructure that connects banks, merchants and consumers in a real-time payment and information sharing network.

    Features:

    • Built on FSA-approved Google Cloud infrastructure
    • Reduces cost for merchants, increases revenue for financial institutions
    • Users can pay in any scenario using any electronic funding source
    Why it's great:

    Pay anyone, anywhere with the funding source of your choice.

    Presenters:
    danieldoderlein_mcashff2014
    1) Daniel R. Døderlein, Founder and CEO
    Døderlein is a Norweigian serial entrepreneur with background from several IT and telecom startups. He is also a sought-after speaker in the field of payments.




    Andersbakke_mcashff2014
    2) Anders Nicolai Bakke, COO
    Nicolai Bakke is a computer science graduate, turned management consultant before ending up in the startup world, At mCASH, he focuses on strategy, biz-dev, fundraising, people management, and structure.





    Payitsimple_logoff2014
    Pay It Simple's patented technology orchestrates the installment payment flow between merchants and their existing processor, payments are always fully secured by a credit company.

    Features:

    • Merchants: increased conversation rates and ticket size; simple and secure to implement and use
    • Consumers: Seamless payments, improved cash flow, no credit application, no fees, and no interest
    Why it's great:

    PayItSimple's patented technology orchestrates the installment payment flow between merchants and their existing processor. Payments are always fully secured by a credit card company.

    Presenters:

    gildon_payitsimpleff2014
    1) Gil Don, CEO and Co-founder of PayItSimple
    Don, co-founder of PayItSimple, has over 18 years of sales and management experience in the field of Information Technology, specializing in business analysis and negotiation.





    Stacyfassberg_payitsimpleff2014
    2) Stacy Fassberg, Marketing Director
    Fassberg is a marketing professional with over 25 years of experience with global technology start-ups, specializing in marketing strategy, communications, branding and product marketing.






    toopher_logoff2014
    Toopher's multi-factor authentication platform uses the location awareness of a mobile device to automate logins/actions based on a user's normal behaviors.

    Features:

    • Highly usable: patented automation creates an invisible user experience
    • Highly secure: out-of-band auth mitigates endpoint attacks
    • Highly innovative: adds to convenience without sacrificing security

    Why it's great:

    Toopher is the most usable and most secure multi-factor authentication solution available.

    Presenters:

    Joshdalexander_toopherFF2014
    1) Josh Alexander, CEO and Co-founder







    evangrim_toopherff2014
    2) Evan Grim, Founder and CTO








    Workfusion_logoff2014
    WorkFusion 
    is a SaaS crowd computing platform that automates the sourcing, aggregation, and structuring of data by pairing machine learning with human intelligence.

    Features:

    • Self-repairing automation pairs algorithms with human workers
    • 30 million on -demand workers for performing tasks and training algorithms
    • 50% reduction in cost of creating financial content
    Why it's great:

    The financial industry is filled with high-volume, repetitive data work, and WorkFusion cuts the cost of it by 50% through machine learning automation.

    Presenters:

    Maxyankelevich_workfusionff2014
    1) Max Yankelevich, CEO
    Yankelevich founded WorkFusion to improve the productivity and efficiency of the data-driven enterprise by combining the power of cloud computing, crowdsourcing, and machine learning.




    adamdevine_workfusionff2014
    2) Adam Devine, VP of Product Marketing
    Devine has spent his career connecting the dots between steep business problems and great technology. The financial sector is his favorite problem, and WorkFusion is his favorite technology.






    Join us next Tuesday for another set of six fintech innovators that will be demoing their technologies at FinovateFall in September.
    Thumbnail image for Thumbnail image for Thumbnail image for LendingClubLogo.jpg

    No beating around the bush about this one: we are thrilled to share the news that Lending Club has filed for an initial public offering. The alternative, peer-to-peer lender seeks to raise at least $500 million.

    See Lending Club's S-1 filing at the SEC for yourself here. Forbes reports that Morgan Stanley, Citigroup, and Goldman Sachs will serve as lead underwriters.

    LendingClub_homepage
    The company has been understandably mum as it enters what is known in the business as its post-filing "quiet period." But in its filing, Lending Club noted a trio of advantages over traditional lenders:

    • An innovative marketplace model that efficiently connects the supply and demand of capital
    • Online operations that substantially reduce the need for physical infrastructure and improve convenience
    • Automation that increases efficiency, reduces manual processes and improves borrower and investor experience
    Additionally, the S-1 cited a few choice metrics about the company's first half of 2014, including:

    • Net income: $86.9 million
    • Adjusted EBITDA (excluding some non cash charges): $5.9 million
    • Profit/(Loss): ($16.5 million)
    • Loans originated: $1.8 billion
    In seeking to raise $500 million, Lending Club could become one of the "biggest ever stock market debuts" according to the New York Times DealBook. Lending Club has financed more than $5 billion in loans and paid investors more than $490 million in interest since inception. DealBook notes that the Lending Club prospectus does leave a few questions unanswered such as the price range for Lending Club shares, and the exchange on which the shares will trade.

    For its part, Forbes' coverage of the announcement includes excerpts from a spring interview with Laplanche in which the CEO explains both how Lending Club works and how he ensures that the "best loans" are not cherry-picked by savvy investors. "There are no best loans," Laplanche said. "If we do our job well - and I believe we do, there is no loan that is better than others."

    You can check out our 2012 interview with Laplanche here.

    Lending Club is the fourth Finovate alum to file for an IPO. Q2 went public in March. Cachet Financial Solutions and Yodlee made their IPO filings in early and late July, respectively. As one of the oldest Finovate alums, Lending Club participated in both our inaugural Finovate event in 2007 and again at FinovateStartup 2009. The company is headquartered in San Francisco, California, and was founded in 2007.

    Alumni News-- August 28, 2014

    • Finovate-F-Logo.jpgPymnts features PayPal's OneTouch mobile payments app.
    • American Banker considers how banks are looking closely at how BillGuard uses geolocation to prevent fraud.
    • Taulia launches SupplierPay.org to help corporations support the White House's SupplierPay initiative.
    • IBM and Monitise expand partnership to combine IBM's sales and specialist resources with Monitise's Mobile Money services.
    • Pymnts.com feature on lending shares observations on consumer credit from Lending Club.
    • Forbes column on natural language processing features Narrative Science and Yseop.
    • Wired.co.uk profiles BehavioSec in its Stockholm category of "Europe's hottest startups" in 2014. See BehavioSec at FinDEVr this fall.
    • CopSonic joins the FIDO Alliance.
    • Markets Media features interview with Avoka CEO Phil Copeland.
    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
    FinDEVr_logo

    A lot of people are getting excited about the upcoming FinDEVr conference in San Francisco this September 30 through October 1. There are some big names presenting, including TD Ameritrade Institutional.

    Along with a keynote presentation, TD Ameritrade will host six hands-on workshops. Here's a preview of what it aims to show off to developers.


    TDAmeritradeInstitutionalLogo

    TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to more than 4,500 fee-based, independent Registered Investment Advisors and their clients. 

    Its advanced technology platform, coupled with personal support from dedicated service teams, allows investment advisors to grow their businesses more efficiently and effectively, while optimizing time spent with clients. 

    TDScreenshot

    TD Ameritrade Institutional provides a robust offering of products, programs, and services designed to help advisors build their businesses and help their clients reach their financial goals.

    At FinDEVr, TD Ameritrade Institutional will give a keynote presentation on how financial advisors can leverage the power of community by collaborating with other, third party advisors.

    Keynote:
    The Power of Together = Better

    ChrisTDAmeritrade
    Presenter:
    Chris Valleley, Director, Technology Solutions 
    Omaha-based Chris Valleley, director of Technology Solutions, is the motivating force behind the delivery of TD Ameritrade Institutional's Veo® Open Access platform--a progressive and flexible financial advisor technology solution designed to help address each advisory firm's unique needs, and integrates with the most leading financial services software applications.

    Through his leadership, technology insight and operational expertise, Chris has strengthened the culture of collaboration and innovation within the advisor technology space. Since 1999, Chris successful led the Veo® Next Generation website launch, and held management roles in technology, operations and business analysis, and product management.

    On the second day of the conference, TD Ameritrade Institutional will lead six workshops detailing how developers can take advantage of its platforms:

    Workshop Session #1
    Check Out What's Under the Hood of TD Ameritrade's Open Access Platform

    Taher Saif, Senior Software Development Consultant, TD Ameritrade Institutional

    WorkshopSession #2
    Test Drive the Deep Integrations Between Salesforce CRM and TD Ameritrade's Custodial Platform

    Craig Uhlenkott, Product Manager, Technology Product Management, TD Ameritrade Institutional

    WorkshopSession #3
    Get a Behind-the-Scenes Look at the Redtail CRM and TD Ameritrade Custodial Platform Integration

    Brian McLaughlin, CEO, Redtail Technologies

    WorkshopSession #4
    Innovations in Wealth Management Technology to Attract Next Generation Clients

    Brad Matthews, CEO and Founder, Trizic, Inc.

    WorkshopSession #5 (Scheduled to be held twice)
    Capturing Market Opportunities With Wearable Technology

    Chris Kurecka, Process Innovation Consultant, TD Ameritrade


    If you missed last week's feature on Yodlee, you can check it out here.

    BraintreeLogo2.jpg

    PayPal's Braintree announced this afternoon that it has started rolling out its v.zero software development kit (SDK) for international customers. It plans to begin with its core markets, including:

      • Australia
      • Canada
      • France
      • Germany
      • Sweden
      • UK

    The remaining tens of thousands of customers spread across 40+ countries will have access to the SDK in the future.

    BraintreevzeroSDK

    The v.zero SDK, which can be integrated in around 15 minutes, will bring the international customers three key features:

      1. Ability to accept PayPal payments without additional integration
      2. Simplicity for future developments to help them keep up with the latest innovation
      3. An easy-to-integrate, customizable UI

    Current international customers include The Exchange Group in Australia and CINQ-S in France.

    Braintree demonstrated at FinovateSpring 2013 before it was acquired by PayPal in September of that year. PayPal last demonstrated at FinovateEurope 2012.

    If you're interested in seeing more of Braintree's SDK, check out its presentations and workshop sessions at FinDEVr this September 30 through October 1.

    doxologo9.11.jpg

    Ever wish there was a better way to archive emails from multiple accounts so you could organize them all in one place on your mobile device?

    Doxo, the cloud storage company that makes it easy to store and organize sensitive documents, photos, and pay bills, announced today the launch of its Email Import function for iPhone. 

    With Email Import users can automatically import, organize, and archive emails from their personal email accounts hosted with:

      • Gmail
      • Yahoo!
      • iCloud
      • Outlook
      • Hotmail
      • Comcast Xfinity
      • ...and others 
    To get started, users select Email Import from the menu:
    doxoEmailImport
    Then select + to add their accounts:
    doxoEmailImport2

    When finished, they can automatically import, archive and organize their personal emails from their mobile device for free.

    doxo debuted its Control Panel at FinovateSpring 2011. You can check out the demo video here.

    Alumni News-- August 27, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMonitise announces digital commerce and resourcing alliance with IBM.
    • ThinkAdvisor takes a look at the deal between the San Francisco 49ers football team and Wealthfront.
    • The Globe and Mail profiles David Lloyd and IntelliResponse as part of its Innovators at Work contest.
    • Fortune magazine column discusses Ripple and the "Internet of value exchange."
    • ValueWalk: FutureAdvisor can be used as a free tool to rate your own investment decisions or a low-cost asset management service.
    • Chicago Tribune's Blue Sky Innovation visits Bolstr for video interview.
    • Bill.com CEO and co-founder Rene Lacerte writes about the "new sharing economy" for Inc.com.
    • CashStar announces spot in Inc 500|5000 for a second year in a row.
    • EyeVerify opens new offices to accommodate recent growth.
    • Locaid partners with Danal to leverage location services in fight against financial fraud.
    • Wallaby Financial named finalist in Samsung Gear App Challenge 2014.
    • ZDNet: Xero continues march into U.S., launches partner marketplace.
    • The Independent looks at how BehavioSec uses behavioral biometrics.
    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.
    ayondoLogo.jpg

    In a week when Moven and Braintreehave both announced international expansion efforts, Germany-based ayondo announced funding that helps deepen its international roots.

    Ayondo, which specializes in a social trading technology that enables users to follow and copy the moves of top traders, brought in $4 million ($5 million Singapore Dollars) from Singapore-based Luminor Capital.

    Prior to this newest round, ayondo has held four rounds of funding, all of undisclosed amounts.

    AyondoScreenshot

    This new installment comes just a month after ayondo opened its Singapore offices, and six months after Luminor became a stakeholder in the company.

    Ayondo demonstrated at FinovateEurope 2013.

    FinovateFallWithDateLogo
    Last week we took a look at 12 companies that will present at FinovateFall this September 23 and 24 in New York:

    Today, we're covering six more companies who will hint at what their 7-minute demo will reveal on stage. If you're interested in seeing the full live demo, get your FinovateFall ticket here.



    AlgomiLogo
    Algomi

    Features:

      • Aimed at financial markets trading
      • Finds trade opportunities on hard-to-trade items through its smart network
      • Connects the right organizations around trades 
      • Does not disclose sensitive franchise data
    Why it's great:

    It's a B2B inter-firm trading social network in high-value, professional financial markets

    StuAlgomi
    Presenters:

    1) Stu Taylor, CEO
    Named as one of the 40 most influential individuals in Fintech 2014 by the Wall Street Journal eFinancial News. Previously a managing director in trading at UBS.


    UsmanAlgomi
    2) Usman Khan, CTO
    Before co-founding Algomi, Khan was managing director at CapXD, a company he founded that sells technology solutions to investment banks.






    Flexscorelogo.jpgFlexScore is the industry's first personal financial health score that uses a patented algorithm and gamification to analyze your entire financial life and suggests ways to improve.

    Features:

      • Sets up automated financial advice beyond budgeting and investing
      • Integrates with your financial institution's products and solutions
      • Offers a digital engagement platform for customers and advisors
    Why it's great:

    FlexScore simplifies financial planning for everyone and offers institutions a digital engagement platform that drives customer loyalty and profits higher.

    JasonFlexScore
    Presenters:

    1) Jason Gordo, CEO
    Jason worked as a financial advisor for thirteen years and co-founded an advisory firm that was recognized by Forbes as a top-fifty emerging RIA.
    LinkedIn


    JeffFlexScore
    2) Jeff Burrow, President and COO
    Jeff spent fourteen years as a financial advisor, working with foundations, retirement plan participants, and high-net-worth individuals. He co-founded an advisory firm with Jason Gordo.







    HedgeCoVestlogo
    HedgeCo Networks' HedgeCoVest is the first investment platform to allow investors and advisors to mirror actual hedge fund portfolios into their individual brokerage accounts in real time.

    Features:

      • Real-time performance and portfolio-monitoring tools
      • Easy-to-use platform to analyze hedge fund's portfolios
      • Allocate/liquidate intraday with the ability to lever portfolios up or down

    Why it's great:

    HedgeCoVest provides an easy-to-use, secure platform for investors to mirror actual hedge fund portfolios in real-time with liquidity, transparency, and simple flat fees.

    297f765Evan
    Presenters:

    1) Evan Rapoport, Founder & CEO
    Rapoport is the CEO/Founder of HedgeCo Networks who has been featured as a hedge fund expert on CNBC, MSNBC, FOX and leading publications.


    AaronWormusProfile
    2) Aaron Wormus, CTO
    Wormus is the CTO of HedgeCoVest. Prior to HedgeCoVest, Mr. Wormus was the director of technical operations for HedgeCo websites & chief architect of the analytics suite, Hedge Fund Calculator.
    LinkedIn





    LinqtoLogo
    Linqto lets you talk to your neighborhood banker, anytime, anywhere. Linqto's Personal Banker delivers video-based, face-to-face transaction processing and communication with remote customers from any device.

    Features: 

      • Instant, easy video connection from any device, website, or kiosk
      • Do-it-for-me transactions add security to mobile banking
      • One-to-many video feature provides cross-sell and social opportunities
    Why it's great:

    Consumer trust in banks is at record lows. Linqto's Personal Banker delivers the essential face-to-face human connectivity and relationship-building benefits your remote customers are missing.

    Dune
    Presenters:

    1) Dune Thomas, Vice President of Mobile Banking Solutions
    The innovation leader behind Personal Banker, Dune is also currently leading automation efforts for Linqto clients Digital Insight and NCR in the financial mobile-apps sector.

    Bill
    2) Bill Sarris, CEO
    A recognized expert in the field of streaming and collaborative technology, Bill has delivered major enterprise software applications for Microsoft, Intuit, Digital Insight, NCR, Google and Stanford.






    MalauzaiLogo2
    Malauzai is designed for an exceptional user experience with superior economic value. SmartwebApps deliver the next generation of mobile banking by leveraging the power of an app-like experience on any device.

    Features:

      • An app-like experience on any device, even the desktop
      • Responsive design and consistency across channels
      • More efficient and faster implementation
    Why it's great:

    Internet banking is dead as you know it.

    1a4e986Robb
    Presenters:

    1) Robb Gaynor, Chief Product Officer and Founder
    Gaynor heads up the product development and marketing for Malauzai, focused on ensuring the company has solutions at the cutting-edge of mobile innovation.


    DannyMalauzai
    2) Danny Piangerelli, Chief Technology Officer and Founder
    Piangerelli leads the technology team and is responsible for all aspects of Malauzai's technology infrastructure.
    LinkedIn







    MyVirtualStrongBoxLogo
    Virtual StrongBox is an online safe deposit box. Customers store important information for record keeping and disaster recovery. Nothing's more important than trust.

    Features: 

      • Encryption-at-rest for stored documents
      • Easy-to-use interface
      • Enterprise file exchange
    Why it's great:

    Secure storage solutions are a valuable addition to the customer experience. Help your customers protect their important personal information with My Virtual StrongBox.

    RonVirtualBox
    Presenter:

    Ron Daly, President and CEO
    Daly knows a thing or two about digital communication and bottom-line performance. He is President/CEO of Virtual StrongBox and a former CFO of a $1.5 billion financial institution.


    We'll feature 6 more companies this Thursday in Sneak Peek: Part 4 so stay tuned.

    Alumni News-- August 26, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgACI Worldwide ranks #36 in Apps Run the Cloud's Top 500 application vendors.
    • Startups.co.uk interviews Michael Kent, CEO and founder of Azimo.
    • TechCrunch profiles Finland-based startup, Holvi.
    • American Banker looks at how banks can use BizEquity's app that enables small businesses to estimate the value of their company.
    • Wade Arnold, founder of Banno which was sold to Jack Henry & Associates, is 1 of 5 finalists honored in annual Silicon Prairie Awards.
    • SecureKey and Trustonic partner to enable SecureKey's briidge.net Connect services to work with Trustonic in select mobile devices. Check out SecureKey at FinDEVr this fall.
    • Bank Mutual selects D+H's Mortgagebot solution for end-to-end mortgage lending.
    • India's Bank of Maharashtra deploys FIS payment platform.
    • The new Citi Wallet supports digital payments via MasterPass from MasterCard. See the company present at FinDEVr in San Francisco this fall.
    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    Alumni News-- August 25, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSan Antonio Federal Credit Union to integrate Geezeo PFM technology.
    • On Deck partners with Worldpay to provide access to financing for small and medium-sized merchants.
    • PaymentsSource features Dynamics ePlate among its list of "7 unusual emerging payments technologies."
    • Top Image Systems announces patent for full page mobile image processing.
    • The New York Times profiles Financial Guard, Motif, Betterment, FutureAdvisor, Jemstep, SigFig and Wealthfront .
    • InStream Solutions launches comparison tool.
    • Moven expands internationally, signs deal with New Zealand-based Westpac.
    • HuffPo profiles Prosper, Lending Club, and Kabbage in column on the rise of online lending.
    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.
    Late summer has proven to be red-hot in the fintech sector. This week, 15 companies received new funds, with 14 equity investments totaling $65 million and one massive debt placement of $200 million to AvantCredit. Combined with the $102 million of equity raised in the first half of August, the sector has attracted nearly $170 million so far this month (not counting the $200 million in debt).  
    --------------------
    New equity rounds this week:
    Listed by size of deal (Aug 16 through Aug 22, 2014)

    Discount real estate agency in UK
    Latest round: $11.7 million
    Total raised: $11.7 million
    Tags: Real estate, rent, mortgage, UK
    Source: Crunchbase

    Digital bill presentment and payments
    Latest round: $11 million
    Total funding: $36.7 million
    Tags: Electronic bill presentment, billpay, payments, North Carolina
    Source: Crunchbase 

    Continuity Control
    Compliance as a service (CaaS)
    Latest round: $10 million
    Total funding: $12 million
    Tags: Compliance, legal, regulations, Finovate alum, Connecticut
    Source: Finovate

    Provides fast access to the block chain for bitcoin developers 
    Latest round: $9.5 million
    Total funding: $13.7 million
    Tags: Bitcoin, cryptocurrency, California
    Source: Crunchbase

    Helps identify and reduce hidden financial fees in investment accounts
    Latest round: $6.5 million
    Total funding: $9.5 million
    Tags: Investing, fees, disclosures, 401(k), IRA, New York
    Mobile biometric security
    Latest round: $6 million
    Total raised: $10.4 million
    Tags: Security, biometrics, Wells Fargo accelerator, Finovate alum, Kansas
    Source: Finovate

    Mobile security
    Latest round: $6 million
    Total funding: $9.4 million
    Tags: Security, Wells Fargo accelerator, Finovate alum, California
    Source: Finovate 

    Crowdfunded real estate projects
    Latest round: $1 million
    Total funding: $1 million
    Tags: P2P, investing, debt crowdfunding, rehab, mortgage, lending, North Carolina
    Source: Crunchbase

    Cryptocurrency distribution platform
    Latest round: $800,000
    Total funding: $800,000
    Tags: Bitcoin, cryptocurrency, India
    Source: Crunchbase 

    Toopher (see them demo at FinovateFall 2014)
    Two-factor authentication
    Latest round: $791,000
    Total funding: $2.8 million
    Tags: Security, Finovate alum, Texas
    Source: Crunchbase 

    Platform for bitcoin/cryptocurrency intelligence & research
    Latest round: $500,000
    Total funding: $500,000
    Tags: Cryptocurrency, payments, Amsterdam
    Source: Crunchbase

    Social lending for technical talent development
    Latest round: $400,000
    Total funding: $400,000
    Tags: P2P, crowdfunding, student lending, California
    Source: Crunchbase

    Payments gateway in Bangkok
    Latest round: $300,000
    Total raised: $300,000
    Tags: Payments, mobile, Thailand
    Source: Crunchbase

    Weeleo 
    Crowdsourced cash currency exchange
    Latest round: $20,000
    Total funding: Unknown
    Tags: Fx, P2P, currency, transfers, Paris
    Source: Crunchbase

    --------------------

    Debt Funding:

    AvantCredit
    Near-prime lender
    Latest debt funding: $200 million
    Total debt raised: $425 million
    Total equity raised: $104 million
    Tags: Subprime, credit, lending, Chicago
    Source: Crunchbase 

    Zumigo_hi_res_FS2014
    Guess which fintech company's just-completed, $6 million Series B round comes stamped "Intel Inside"?

    On Friday, Zumigo announced an investment from Intel Capital, Intel's global investment and M&A arm, along with participation from existing investors, including Aligned Partners. This Series B round brings Zumigo's total funding to $7.7 million.
    Zumigo_Assure_homepage
    Zumigo's CEO and Co-founder Chirag Bakshi says the new financing "validates our direction and success and will accelerate growth in our core business of providing mobile location and identity products to financial organizations and enterprises alike."

    In addition to growth in its core business, the company said in a statement that the funding also will help support investments in sales and marketing, as well as in new product development.
    Zumigo_Reach_homepage
    Yesterday we shared news that Zumigo will be one of three companies participating in the inaugural Wells Fargo Startup Accelerator. The Accelerator is geared toward startups that are capable of delivering solutions for FIs ranging from security and fraud to payments and operations. The six-month program includes an equity investment between $50,000 and $500,000.

    Founded in 2008 and headquartered in San Jose, California, Zumigo demoed its technology at FinovateSpring 2014.

    Alumni News, 22 August 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgEyeVerify raises $6 million in Series A round, joins Wells Fargo Startup Accelerator.
    • Continuity Control announces $10 million investment.
    • Zumigo earns a spot in, and an investment from, Wells Fargo Startup Accelerator.
    • BlueVine brings in $1.5 million in funding. Check out BlueVine's live demo at FinovateFall.
    • Four notable website upgrades on Bankbazaar.com.
    • Houston Chronicle features Lending Club success story.
    • Check Point Software Technology positioned as a Leader in the 2014 Gartner Magic Quadrant for Unified Threat Management.
    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.

    FinovateFall 2014 Sneak Peek: Part 2

    FinovateFallWithDateLogo

    If you missed the first installment of our FinovateFall 2014 Sneak Peek series, click here for Part 1.

    A few days ago we introduced you to BizEquity, Gremln, Hoyos Labs, Knox Payments, NopSec, and Rippleshot. Today we present another six companies that will be demoing on stage in New York in September.

    FinovateFall 2014 is live in New York City on September 23 and 24. And with last year's show a sell-out, we're expecting even bigger things in 2014. So save your spot at this year's show; click here to register today.



    Thumbnail image for BackbaseLogo.jpg
    Backbase is a software company helping banks in the digital era.

    Features:

      • Beautiful digital banking experience for end customers
      • Full control over the digital strategy by the bank
      • Backbase Marketplace to unite vendors and banks looking for fintech innovation
    Why it's great: 

    Backbase Engage helps banks regain control over their digital strategy.

    Presenters:

    PeteChapman_Backbase_FF2014
    Peter Chapman, Principal FinTech Strategist
    Before joining Backbase, Chapman worked as VP emerging technologies at First Trade Union Bank. Frustrated by the lack of control of the banks to own their digital future, he joined Backbase to fix this.




    JelmerdeJong_Backbase_FF@104
    Jelmer de Jong, Global Head of Marketing
    De Jong focused his career on helping companies get the most out of new technologies. He has a strong focus on startups, B2B, product management and marketing.






    biocatch_logo
    BioCatch
     provides innovative online fraud-prevention solutions that dramatically reduce friction and fraud, giving customers confidence to expand their business.

    Features:

    The Cognitive Biometrics technology enables BioCatch to detect intruders, bots, and fraudsters.

    Why it's great:

    BioCatch: Less friction. Less fraud.

    Presenters:

    BioCatch_UriRivner
    Uri Rivner, Co-Founder and VP Business Development & Cyber Strategy
    Rivner is recognized globally as an industry expert on Cybercrime and advanced threats. He is a regular speaker in the leading Security and Cyber conferences, and writes a cyber-security blog.





    blooom-low-res
    blooom
     has developed a revolutionary way to open the eyes of 401(k) investors, by outsourcing the management of their 401(k) accounts, regardless of where custodied.

    Features:

    • We don't use complicated charts or line graphs with a gazillion indecipherable colors
    • We make it easy to operate (no Ph.D in Finance required)
    • We rebalance the account, rather than just make recommendations
    Why it's great:

    Blooom allows investors to ditch their current strategy of ignoring-it, meaning-to-get-around-to-it, and hoping-for-the-best!

    Presenters:

    ChrisCostello_blooom_FF2014
    Chris Costello, Co-Founder and Certified Financial Planner
    Costello has 20 years experience and builds the model used to generate 401(k) recommendations, allowing blooom users to tap into advice traditionally only available to investors with a gazillion dollars.




    RandyAufDerHeide_blooom_FF2014
    Randy AufDerHeide, Co-Founder and Chief Technology Officer
    AufDerHeide handles all the fancy, schmancy IT stuff. If it involves computers, code, Internet stuff, he's the guy. He also makes everything work smoothly, helping deliver a great experience to bloom users.





    ibillionaire-logo-hd
    iBillionaire
     taps into the investment strategies of Wall Street billionaires and provides unique and exclusive data on investment activity and trends.

    Features:

    • Provides insights into billionaire investment portfolios and stock picks
    • Sends real-time alerts on buys, sells, and prices
    • Allows users to track their own portfolios and the iBillionaire Index
    Why it's great:

    With iBillionaire, anyone can invest like a billionaire.

    Presenters:

    RaulMoreno_iBillionaire_FF2014
    Raul Moreno, Co-Founder and CEO
    Moreno is a serial entrepreneur with a background in finance and tech. His previous ventures include social app discovery platform, Kinetik, and he previously worked as an analyst at GFG Capital.





    patch-of-land-new-logo
    Patch of Land
     is a peer real estate (P2RE) lending marketplace presenting its real-time, due-diligence engine.

    Features:

    • Proprietary risk and credit-modeling system increases accuracy of risk profiling
    • Full-stack integration with existing platform and processes
    • Significant scale and velocity of underwriting
    Why it's great:

    We are creating an efficient, scalable system for underwriting and complex real estate lending transactions and pricing risk appropriately.

    Presenters:

    BrianFrittonPatchofLand_FF2014
    Brian Fritton, CTO
    Fritton is a seasoned eCommerce expert who oversees the development of Patch of Land's in-house platform and leads the research and implementation of our technology initiatives.






    Settlelogo
    Settle
     is a mobile-payment platform built to create greater customer loyalty by hastening the checkout process while improving the overall customer experience.

    Features:

    • Bridge mobile payments and loyalty
    • Target marketing to consumers based on their paying behavior
    • Transfer P2P cash easily
    Why it's great:

    Settle brings easy mobile payments to customers and allows merchants to make the most of customer data.

    Presenters:

    StasMativiyenkoSettleFF2014
    Stas Matviyenko, CEO
    Matviyenko studied in Austria, worked for the Ukranian government (banking research). Founder at Advice Wallet (the biggest mobile loyalty program in CIS countries), believes in mobile payments, geek.






    AnnaPolishchukSettleFF2014
    Anna Polishchuk, COO
    Polishchuk has a Masters degree in international business and is passionate about design and technology. She worked as Market Research Analyst at an international company and co-founded Advice Wallet.






    Our Sneak Peek series continues on Tuesday with another six companies that will demo their fintech innovations at FinovateFall 2014 next month.
    EyeVerify_hi_res_FS2014

    With participation from Wells Fargo, Qihoo 360 and Sprint, as well as existing investors, EyeVerify just announced that it closed a $6 million Series A funding round. 

    The investment takes EyeVerify's total capital to more than $10 million.

    In a statement, EyeVerify CEO Toby Rush pointed to the fact that the investors included "the largest security software firm in the world, the leading bank in the U.S., and a wireless network operator serving more than 50 million U.S. customers" to underscore what he called the strong "marketplace validation" of the investment.

    And the good news comes in twos for EyeVerify, with the company announcing that it is part of the inaugural class of the Wells Fargo Startup Accelerator. EyeVerify will participate in the new, semiannual fintech bootcamp along with two other companies, including fellow Finovate alum, Zumigo. Participation in the program includes a "direct equity investment" ranging from $50,000 to as much as $500,000. The specific investment in EyeVerify was not immediately available.
    EyeVerify_homepage
    EyeVerify's innovation is the way it approaches eye-based, biometric authentication. The company's technology uses the veins within the whites of the eyes to take an "eye print" that is as unique to the individual as a fingerprint. Eyeprints can be used in a range of authentication situations, from helping secure employee mobile devices to providing greater security for mobile banking customers. Kevin McGinnis, vice president of Sprint's Pinsight Media+ division said, "With mobile security evolving beyond passwords, we are pleased to invest in EyeVerify and its easy-to-use, innovative biometric solution."

    Founded in 2012 and based in Kansas City, Kansas, EyeVerify last demoed its Eyeprint Validation technology at FinovateSpring 2014. See the company's Best of Show winning demo here.
    Thumbnail image for ContinuityControlLogo2.jpg

    Referring to its $10 million investment as "growth funding," compliance-management specialist Continuity Control says it is even better positioned to expand its regulatory intelligence platform for FIs.

    The company's total capital now stands at $12 million.

    River Cities Capital Fund led the way in an investment round that included participation from BancVue and the family of IBM founder Thomas Watson, as well as others. Impressively, the $10 million raised was twice the amount Continuity Control had initially sought.
    Continuity_Control_homepage
    Speaking of the investment, Continuity Control CEO and Co-founder Andy Greenawalt said, "The interest generated in this round of investment further validates our vision for compliance management and the opportunity it represents in the community financial industry."

    What will Continuity Control do with the additional capital? According to the company, research and development are near the top of the list. But faster movement overall is what Continuity Control is counting on with the new investment. "The faster we progress, the sooner we'll fulfill our mission to eliminate the tedious, manual effort historically involved with compliance management."

    An innovator in the field of compliance technology for financial institutions, Continuity Control specializes in helping credit unions and community banks reduce the costs and time involved in meeting regulatory requirements.

    Founded in 2008 and headquartered in New Haven, Connecticut, Continuity Control demoed its technology at FinovateSpring 2010. See the company's demo video here.
    Inc50002014

    Inc. Magazine recently released the 2014 Inc. 5000 list that ranks the fastest growing privately-held companies in America. We combed the top 1,000 for Finovate alums and two made the cut. Many more are listed among the remaining 4,000 companies.

    Before taking a closer look at the two fast-growing companies, here are some stats on the financial services sector as a whole ranked against the other 24 industry categories:

      • Revenue: It ranked 5 of 25 in 2013 revenue, with a total of $17.2 billion
      • Growth rate: It ranked 19 of 25 in growth over the course of 2010 to 2013, with a rate of 112%
      • Job creation: It ranked 12 of 25 in the number of jobs the industry created from 2010 to 2013

    Here are the two Finovate alums that made the top 1000:

    LendingClubLogo.jpg
    Lending Club, a peer-to-peer lending platform
    Rank: 248
    Founded: 2007
    Headquarters: San Francisco, CA
    3-year revenue growth: 18x
    LendingClubHomepage2

    OnDeckLogo
    OnDeck, offers alternative loans to small and medium sized businesses
    Rank: 726
    Founded: 2007
    Headquarters: New York City, NY
    3-year revenue growth: 6.3x
    OnDeckHomepage2

    Zumigo_hi_res_FS2014

    Of the three companies participating in the inaugural Wells Fargo Startup Accelerator, two are Finovate alums. One is EyeVerify, which also reported a $6 million dollar investment on Wednesday. The other is Zumigo.

    What was it about Zumigo in particular that caught Wells Fargo's eye? According to Zumigo, the big bank is especially interested in the company's mobile location intelligence technology, which provides authentication services for mobile transactions. Zumigo's solution allows financial institutions to be more proactive than is "current industry practice," according to Chirag Bakshi, founder and CEO of Zumigo.

    Zumigo_homepage
    "Zumigo's innovative technology for financial services institutions such as Wells Fargo can detect fraudulent transactions before (they) impact their customers," Chirag added.

    In the words of Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo, the goal of the Accelerator is to increase the bank's "visibility into technologies and ideas that will stoke innovation across the enterprise." And considering that two out of the three companies participating are security/authentication-related, Wells Fargo may be telling us a lot more about the kind of innovation major banks are looking for than it may seem. The third company, Kasisto, is a New York startup that specializes in conversational artificial intelligence technology.

    Participating in the Accelerator includes an equity investment of between $50,000 and $500,000. Zumigo did not immediately disclose the level of investment it received. The program lasts for six months, and will provide business planning expertise geared toward developing "innovative ideas and stoke innovation across the Wells Fargo enterprise."

    Zumigo was founded in 2009, and demoed its Assure solution at FinovateSpring 2014. The company is headquartered in San Jose, California.
    BlueVineLogo2

    Last week, in an extension of its latest seed round, BlueVine raised an additional $1.5 million. This, along with the $4 million round in March, brings its total funding to $5.5 million.

    While the specific investor was not stated, investors in previous installments include:

      • Greylock Partners Israel
      • Lightspeed Venture Partners
      • Kreos Capital
      • Correlation Ventures
      • Kima Ventures
    BlueVineHomepage

    BlueVine's platform frees up cash flow for small businesses by providing expedited payment to bridge the gap between outstanding invoice payments and working capital for business operations. After the small business connects their invoicing software to BlueVine, here's what happens:

      • They select the invoices for which they want immediate funding
      • BlueVine funds 85% of the invoice amount up front
      • When the invoice is due, the customer pays and the small business receives a rebate

    BlueVine will demo live on stage at FinovateFall this September 23 and 24 in NYC.

    Alumni News-- August 21, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker takes a look at the new Wells Fargo Startup Accelerator, with alums EyeVerify and Zumigo in the inaugural class.
    • Check out our first FinDEVr Preview, featuring Yodlee Interactive. Join Yodlee at FinDEVr in San Francisco this fall.
    • The Paypers spotlights BioCatch and the company's cognitive science-based biometric technology. See BioCatch at FinovateFall in New York next month.
    • MasterCard partnership with Zimbabwe's EcoCash designed to boost mobile money services in Africa. MasterCard is a presenter and sponsor of FinDEVr, the first fintech event for developers.
    • Taulia sees more than 350% growth in second quarter of 2014.
    • Mergermarket.com features AnchorID in latest report. See AnchorID's live demo at FinovateFall in NYC.
    • GECU providing members with online and mobile digital banking services from Digital Insight.
    • PayNearMe partners with Systems & Methods to offer a way to pay child support in cash. Check out PayNearMe at FinDEVr.
    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    FinDEVr Preview: Yodlee Interactive

    FinDEVr_logo

    In the weeks leading up to our inaugural FinDEVr conference, we're taking a look at the more than 40 speakers who will be making presentations. Click here to see the full agenda.

    First up is Yodlee Interactive. Yodlee was a presenter at the first Finovate event in 2007, and continues that tradition by being a big part of the inaugural FinDEVr. In addition to its keynote address, Yodlee will deliver three workshops on the second day (see below). 

    For more information on FinDEVr, the first event for fintech developers, coming to San Francisco on September 30, visit FinDEVr here



    Thumbnail image for YodleeLogo2012.jpg
    Yodlee is the platform for financial innovation. More than 600 companies globally, including seven of the top ten US financial institutions, rely on Yodlee to power personalized financial apps and services for millions of consumers, driving retention, engagement, and revenue. 

    Leveraging the industry's largest data platform, Yodlee also delivers real-time insight into consumer behaviors to create more dynamic interactions - anywhere, anytime, on any device.
    YodleeInteractive_homepage1

    Yodlee Interactive is focused on making the Yodlee platform available everywhere that entrepreneurs, partners, and developers building digital financial apps and services can use to create value. As the architects of a new digital ecosystem, Yodlee Interactive optimizes the wisdom of the financial technology crowd to create, catalyze, and distribute innovations faster through an open and secure data API. 

    Used by hundreds of companies, both small and large, Yodlee Interactive is the horsepower behind today's coolest and most personalized digital experiences.

    At FinDEVr, Yodlee Interactive will be giving a keynote address and will provide three workshops for builders. The titles, topics, and presenters for the keynote and workshops are below.

    Keynote: Demystifying the Yodlee Data
    What is the Yodlee platform and what value do the Yodlee Interactive APIs open up to developers?
     
    JosephPolverari_Yodlee_FinDEVr_new
    Joseph Polverari
    Chief Strategy & Development Officer, Yodlee;
    Founder & General Manager, Yodlee Interactive

    Joe Polverari is focused on making the Yodlee platform available everywhere that value can be created by entrepreneurs, partners, developers building digital financial apps and services. 

    Joe is a graduate of the Stanford Graduate School of Business Executive Program, holds a juries doctorate and degree in Economics from Santa Clara University.

    CheungTam_Yodlee_FinDEVr_new
    Cheung Tam
    Director API Product Management, Yodlee

    Previous to Yodlee, Cheung served as Senior Product Manager, Developer Platform at Intuit. Cheung is a technologist with advanced degrees in business and engineering and has over 15 years of development, product, and project management experience.

    Workshop Session #1
    How to Build an App with Financial Data: Hands on help from Yodlee Interactive and the hot app builders who are leading the charge.

    AnitaHayrapetian_Yodlee_FinDEVr_new
    Anita Hayrapetian
    Senior Solutions Engineer, Yodlee Interactive

    Anita is a customer focused sales engineer with in-depth technical knowledge and superior presentation and interpersonal skills. Successfully developed and deployed more than 20 major projects including auction, e-commerce and ERP systems for global computer component re-sellers.

    Session also features Cheung Tam and Guest Developers.

    Workshop Session #2
    Yodlee's Instant Account Verification (IAV) API for Managing Risk and Fraud

    LoriMartel_Yodlee_FinDEVr_new
    Lori Martel
    Vice President, Platform Product Management, Yodlee

    Session also features Jayasree Iyer and Guest Developers




    Workshop Session #3
    Supercharge your Apps with Wealth Data from Yodlee & Xignite

    DevaprasadMaybe_Yodlee_FinDEVr_new
    Deviprasad Kocherry
    Product Manager, Yodlee






    AlChang_Xignite_FinDEVr_new
    Al Chang
    Chief Technical Officer, Xignite






    Look forward to our next FinDEVr Preview featuring TD Ameritrade Institutional next week.

    Alumni News-- August 20, 2014

    • Finovate-F-Logo.jpgCUneXus improves loan acceptance by 68% over 2013 for Educational Employees CU.
    • With Simple's 2.0 mobile app update, users can send paper check payments via mobile.
    • ID Analytics names Daniel Rawlings as Chief Revenue Officer.
    • Essent Guaranty offering lenders access to rate quotes through an interface with D+H's MortgagebotLOS.
    • ThreatMetrix selected as one of CIOReview100s Most Promising Technology Companies.
    • EyeVerify and Zumigo selected for Wells Fargo's accelerator.
    • Expensify integrates with Uber's API to launch SmartRides feature.
    • PayNearMe and SIMI partner to offer cash collection services to US government agencies.
    • Kony launches MobileFabric to Accelerate Speed of Delivering Great Enterprise Mobile Apps.
    • PayPal announces access to its One Touch mobile payment solution. Join PayPal in San Francisco for FinDEVr this fall.
    • Cartera Commerce unveils new website.
    • Wallaby Financial launches CardBase and The Card Guide, opening its credit card database to the public.
    • National Real Estate Investor features Realty Mogul CEO and co-founder, Jilliene Helman.
    • Forex Brokerz talks about the beta release of Darwinex's social trading platform.
    • peerTransfer tops $1 billion in international education payments, announces 500th client.
    • Bloomberg.com features Venmo, Fiserv's Popmoney, and Dwolla in column on Millennials and mobile payments.
    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.

    FinovateFallWithDateLogo
    With the busy product development and release schedule that comes with the autumn season, FinovateFall is the perfect place to see what's new in fintech. 

    This year, 71 companies will step up to the Finovate stage at the NYC Hilton Midtown on September 23 and 24. Tickets are going fast; register for yours today.

    Here's an inside look at six of these hand-picked companies:


    BizEquityLogo.jpg

    BizEquity has invented the first and only patented way to value any business in real-time and in the cloud online.

    Features:

      • BizEstimate feature that pre-values over 28 million private businesses 
      • Patented, online real-time business value and tailored advice and alerts to each user
      • Business ValueMonitoring Dashboard 

    Why it's great:

    BizEquity's mission is to democratize business valuation knowledge globally to every small business and financial institution through its patented cloud-based service.

    Carter
    Presenters:

    1) Mike Carter, CEO
    Carter is former Managing Director of The Musser Group, former Founder and CEO of Dashboard Systems, and former Chief Marketing Officer for U.S. Interactive.
    LinkedIn

    2) Semyon Fishman, Vice President of Engineering and Technology
    Fishman is former Vice President of Product Engineering at Valex Consulting and former Lead Engineer for the Math Forum.


    GremlnLogo.jpg

    GREMLN Financial Social Media offers secure social media tools for the financial services industry. It's a full marketing and analysis suite wrapped in a security layer to maintain compliance.

    Features:

      • Pre-approved content libraries
      • LinkedIn client prospecting
      • Mobile social media compliance platform

    Why it's great:

    Social media involvement is essential, but it can be dangerous for financial services companies. Gremln makes it possible to participate and succeed in social media...safely.

    RyanGremln
    Presenters:

    1) Ryan Bell, CEO
    LinkedIn  




    TJGremln
    2) TJ Tavares, Senior Sales Executive
    LinkedIn






    HoyosLogo
    Hoyos Labs' app will finally put an end to the frustration that comes with usernames, passwords and PINs by replacing them with your unique biometrics.

    Features:

    • Acquires users' biometrics via smartphone to replace all log-in information
    • Works with Apple and Android smartphones and tablets, and with PCs
    • Increased convenience and security for users
    Why it's great:

    Hoyos Labs' app allows users to increase the convenience and security in their life by removing the need to ever remember their log-in information.

    Presenter: 
    Hoyos

    Hector Hoyos, Founder and CEO
    Hoyos is a biometrics veteran and entrepreneur who has dedicated his life to the development of innovative technologies that change existing business paradigms and have a profound impact on society.


    KnoxPaymentslogo
    Knox Payments is a merchant tool for payments to and from bank accounts online for just $0.18/transaction.

    Features:

      • Fastest online and mobile checkout process
      • Accept ACH payments without needing your customers to enter bank routing and account numbers
      • Instantly verify bank account and sufficient funds

    Why it's great:

    Fastest, cheapest checkout process for you and your customers.

    KnoxThomas
    Presenter:

    Tommy Nicholas, Head of Product
    Nicholas earned his BA from the University of Virginia. He founded CitySwig and helped grow Coffitivity to over 2 million users.
    LinkedIn



    NopSeclogo
    NopSec is a cloud-based vulnerability risk management SaaS.

    Features:

      • Correlate vulnerabilities with real-time threats and exploits
      • Drill down into the most critical risks across the full software and hardware stack
      • Analyze vulnerabilities using keyword searches

    Why it's great:

    Remediate what matters most, faster.

    StevenNopsec
    Presenters:

    1) Steven Leonard, Chief Marketing Officer
    Leonard is responsible for all areas of marketing strategy and execution. Prior to NopSec, he spent 17 years at Microsoft Corporation.
    LinkedIn


    2) Lisa Xu, Chief Executive Officer
    Xu is responsible for strategic direction, sales, and operations. Prior to NopSec, she advised Fortune500 enterprises on data security, privacy and technology risk management.
    LinkedIn


    Rippleshotlogo
    Rippleshot detects bank card data breaches. Its cloud-based solution helps banks proactively stop fraud before it occurs and protects merchant brand reputation.

    Features:

      • Next generation fraud prevention -- stopping fraud before it occurs
      • 24/7 monitoring -- detecting breaches faster
      • Early warning alerts -- proactively protecting 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: 

    RippleshotLucas
    1) Lucas Ward, Co-Founder and CTO
    Ward is a proven technology leader. At Fundspire, he created an innovative product to change the way hedge funds viewed and analyzed their data.




    RippleshotRandal
    2) Randal Cox, Co-Founder and CSO
    Cox has over a decade of experience in the credit card industry, modeling credit card and ATM fraud, ultimately culminating in the co-founding of Rippleshot.



    Stay tuned later this week for a look at six more companies set to debut their new technology at FinovateFall this September 23 & 24 in New York.

    Thumbnail image for PayPalLogo.jpg

    For mobile shoppers using PayPal, instant gratification just got a little more instantaneous.

    PayPal announced today that it is opening up beta access to its One Touch feature. This feature allows people to pay with PayPal with a single swipe from inside other apps. Initially available only to iOS users, the feature will be accessible for Android users in September when the product is officially launched.

    paypal_homepage_new
    In an interview with VentureBeat, Braintree CEO Bill Ready put "one-touch buying" at the center of what to expect when it comes to payments over the next few years (recall that Braintree was acquired by PayPal in September 2013). Bill believes part of this has to do with the challenge of entering data on mobile devices, especially smartphones. But this initiative also responds effectively to the Prime Directive of E-commerce Innovation: "More Time Shopping, Less Time Transacting."

    The feature is optional, and users have both the ability to opt-in/opt-out, as well as specify which source of funding you want to be used for your One Touch transactions (PayPal balance, linked bank account, or credit card). Calling One Touch payments "the magical experience that every mobile user will come to expect," Bill may be engaging in a touch of hyperbole. But in a world in which Amazon is increasingly interested in the payments business, it is interesting to see PayPal leverage Braintree technology in order to strike back at Amazon on its own "one-step shopping" turf. 
    PayPal_one_touch
    There will be a handful of merchant apps available initially as part of the developer beta, with other merchants coming on board in the weeks to come.  Soon any developer with access to the Braintree v.zero SDK - and anyone who uses PayPal - will be able to take advantage of One Touch. More information on the technology for consumers and merchants is available here. Developers can find out how to get started, including accessing the SDKs at PayPal's developer portal.

    And speaking of developers, join PayPal at FinDEVr for the company's presentation on how wearables are changing the payments landscape. The first fintech event for developers, FinDEVr will be held from September 30 to October 1 in San Francisco. For more information, visit our FinDEVr page.
    VisaLogo

    Visa's Visa Checkout, the rebranded version of V.me, has experienced increased success since its recent change of face.

    Similar to PayPal, Visa Checkout stores users' credentials and enables them to pay at a merchant's site with only their username and password. The service launched this July with PNC and other banking partners.

    VisaPNCCheckout

    According to American Banker, PNC reported that customer enrollments of Visa Checkout doubled after it changed the brand from V.me (PNC declined to disclose actual enrollment 

    VisaCheckoutCreditCards
    figures). Some speculate that the success is partially due to the name change. Not only is Visa Checkout more descriptive, it also appeals to a wider audience and sounds more secure.

    The potential for Visa Checkout to place a bank's card at the top of the digital wallet is enticing. When a user signs up for the Visa Checkout, they are prompted to enter their credit card information into the wallet. While the service works with any payment card, banks are hoping their card will be the most frequently used.

    To see Visa's newest offering for developers, check out its upcoming presentation at FinDEVr San Francisco held September 30 through October 1.

    simpleLogoNew.jpg

    After it was acquired by BBVA in February, Simple is showing the first major sign of access to the mega bank's deep pockets.

    The Portland-based startup updated its iOS and Android apps today to bring users an easier way to pay others via their mobile device. Aside from the redesigned interface, other major changes include: 

    Simpleapp2.1
    1) Simple Instant Transfer on mobile
    Previously only available on the web interface, Instant Transfer enables users to instantly send funds to other Simple account holders. 

    2) Updated goal interface on mobile
    It's easier for users to create and manage their goals with the ability to add notes to their goals and easily transfer money into and out of individual goals. It still lacks, however, the function to add pictures to goals. 

    3) Customized profiles
    Customers can customize how other users see them by adding a profile picture (see screenshot on right) to their account. They can also select other Simple customers as favorite contacts.

    4) Mail checks from mobile

    One of the more notable upgrades, is the ability to mail checks for free to anyone. All you need is their name and mailing address. I tested the feature on my iPhone 5S by sending a check to my mother, who does not have a Simple account.

    Note the text at the bottom that indicates both when the money will be withdrawn and when the check will be received. Pulling that information out of the fine print and into plain sight aligns with Simple's transparent policy.

    SimpleApp2.4.2

    After adding my mom's address, I entered the amount, followed by the 4-digit verification code that I received via text.

     
    SimpleApp2.5

    Once I entered the code, the $1 had been withdrawn from my account and was ready to be mailed to my mother.

    In the U.S., where writing checks is still common, the ability to do it from a mobile device is a very useful feature. Simple could improve it with a few small additions:

    1) Option for users to pay for expedited shipment of the check.
    2) Optional note field to send with the check that allows users to personalize the payment
    3) The ability to assign a photo avatar to contacts who are not Simple customers

    Simple launched at FinovateFall 2011. You can check out the demo video here.

    View Previous Entries

    Watch Demos

    Click above for video archives of all demos.

     

    Twitter


    See all Finovate tweets