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October 2011 Archives

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  • Prosper.com creates account enhancements for investors.
  • Bank Technology News looks at Pageonce's decision to add a bill pay service.
  • PSFK gives a sneak peek of BankSimple's mobile app.
  • CNN Tech discusses the differences between Intuit's Quicken and Mint.com.
  • Clairmail announces a record increase in cumulative mobile banking transactions.
  • ReadyForZero now supports auto loans, mortgages, and student loans.
  • The Des Moines Register looks at how Dwolla & T8 Webware contribute to Des Moines's startup culture.
  • Benzinga looks at DoughMain's family finance tool.
  • CU Times examines the usage of Mint.com's iPad app.
  • The Republic examines LearnVest's budgeting and advice platform.
  • Mint.com explores its history as an infographic and includes being a two-time Finovate Best of Show Winner.
  • Intuit receives two prestigious awards for social customer support, engagement.

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.
ReadyForZero.pngLast Thursday, online debt-tracking startup ReadyForZero launched several significant new features: 

  1. Expanded coverage beyond credit cards; now all loan types can be linked (auto, mortgage, student).

  2. Improved how users monitor debt payoff and added the ability to increase the payment amount to speed up the process (see below).
RFZSpeedCalc.jpg

3. Added actionable advice and activities to keep users focused on goals.

More developments, such as increased automation and better financial options, are expected in the weeks ahead.

To learn more about ReadyForZero's debt-tracking platform, watch its FinovateFall 2011 demo.
MintLogo.jpg
Yesterday, Mint.com launched its much-anticipated iPad app. The Intuit-owned company decided to wait until iOS 5 was released before launching the app to its 7 million users. One of the most-innovative features is the new Facebook-like transaction feed. 



MintTransactionFeed.jpg
The app also allows users to view bill reminders, alerts, and advice all in one place. 

To learn more about Mint.com watch its FinovateSpring 2011 demo.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBank Technology News reports BankSimple benefits from fee discontent. 
  • Jason Calacanis interviews BillShrink (Truaxis) CEO during "This Week in Startups."
  • LearnVest CEO Alexa Von Tobel provides advice in Forbes on how to save $1k by 2012.
  • SafetyPay partners with Brazil's sixth-largest bank, HSBC Bank Brazil.
  • CashStar raises $12 million in series C financing.
  • Mint.com's iPad app now available, includes transaction feed.
  • Under the Radar blog interviews Expensify CEO David Barrett.

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.
CashStar.jpgYesterday, e-gifting platform CashStar announced that it raised $12 million in Series C financing:

"The funding will be used to help drive continued adoption of digital gifting and grow CashStar's retail brand network. Mandarin Oriental Hotel Group is another brand that has just partnered with CashStar to offer consumers a more personalized way to gift and incent."

Investors included FTV Capital, Steven Boal (President & CEO of Coupons.com), and Passport Capital. 

To learn more about CashStar, watch its demo from FinovateFall 2011.
Thumbnail image for Thumbnail image for yodlee.jpgYesterday, California-based Yodlee announced an extended service arrangement with Bank of America to implement Yodlee's FinApp platform. 

FinApp capabilities include:

    • Transaction-based offers (i.e. merchant-funded rewards)
    • Tax preparation from H&R Block
    • Custom savings plans
    • Credit score improvement module
    • P2P money transfers
To learn more about how Yodlee is helping banks to tailor the client's experience, watch its FinovateFall 2011 demo
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCredit Karma is giving away free credit-monitoring service to first 12,500 readers.
  • HelloWallet opens a second office in San Francisco.
  • FreeMonee tells AOL Daily Finance that it is to launch a merchant-reward plan with a major U.S. bank on Nov 17.
  • Credit Union Times reports that mShift is one of the three largest providers of mobile banking tools to credit unions.
  • ABC News looks at BankSimple's alternative banking approach.
  • Auto insurance & finance providers The General, Mark One Holdings, &  Freeway Insurance add BillFloat as a payment option.
  • Continuity Control endorsed by Western Independent Bankers.
  • Expensify launches an app for the Windows phone.
  • Mlive.com recommends using BillShrink (Truaxis) to avoid an outrageous mobile bill.
  • Mint.com and Budgettracker.com are recommended as two tools for mitigating financial mistakes.
  • Bank of America will use Yodlee's FinApp Platform.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
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As I watch the discussion of the EU's (and the world's) financial state in the media these days, I can't help but see tremendous entrepreneurial opportunities. From helping individuals to manage their money more confidently to helping banks to find new revenue streams to helping small businesses with alternative lending options and much more, there has never been a better time to be innovating in financial technology.

As I write this, our team is hard at work on our next showcase of the companies that are on the cutting-edge of those opportunities -- FinovateEurope 2012 -- which will take place February 7th in London. Over the last two weeks, we've begun screening the applicants that want to demo their latest fintech innovations at the event and it's shaping up to be an incredible roster of companies.

If you'd like join us in London and watch the future of financial and banking technology debut on stage via our fast-paced demo-only format, please get your ticket soon. Tickets for the event are selling strongly -- well ahead of last year's pace when we sold out weeks ahead of the conference -- and registering now is the only way to guarantee your spot and the affordable super early-bird ticket price!

FinovateEurope 2012 is sponsored by: BlueRock Consulting

FinovateEurope 2012 is partners with: Deutsch Startups, The Financial Services Club, and the Financial Services Innovation Centre

Thumbnail image for wikinvest.jpgToday, Wikinvest launched Wikinvest Portfolio HD, an iPad version of its portfolio tracker. The app aggregates accounts from more than 60 of the largest U.S. brokerage firms. 

The app features: 
  • Visual analytics to provide insight into metrics
  • True asset allocation
  • Geographic allocation (shown below)

iPadGeographicDistributionOverlay.jpg
To learn more about the technology behind the app, watch the Wikinvest demo from FinovateSpring 2011 and its SigFig demo from FinovateFall 2011.

Weemba's Loan Listings by Type

Thumbnail image for weemba.jpgYesterday, American Banker dissected Weemba's loan listings since the startup launched four weeks ago. Here is the breakdown of 150 loans requested so far:

  • Health care: 55% of loans
  • Small business financing: 12%
  • Automobile, motorcycle or other vehicle: 12%
  • Mortgages and home improvement projects: 10%
  • Student loans: 6%
  • Other: 5%
The average loan request = $37,000

To learn more about Weemba, watch its demo from FinovateFall 2011.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgGeezeo signs three more referral engine clients.
  • ComputerWorld looks at how SilverTail Systems mitigates fraud.
  • Bank Innovation highlights CashStar's partnering with banks for its gift-reward program.
  • Zecco is listed as 1 of 7 smart ways to invest $100.
  • Weemba reports a growing number of personal loan requests.

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.
Earlier this week, American Banker described the science that FinTech companies use to learn the spending habits of consumers, the Payments Genome.

All four fintech companies cited in the article are Finovate alumni. Here are the techniques employed:
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  • Truaxis uses an algorithm to infer consumer behavior.Thumbnail image for T8WebwareLogo.jpg
  • T8 Webware uses a modified version of an algorithm used by gene scientists to create new crop species, Hidden Markov ModelBillGuard.jpg
  • BillGuard uses its userbase to flag questionable transactions (i.e., crowd sourcing)
  • Micronotes performs regression analysis on each customer's transaction data to cross-sell products.Thumbnail image for Micronotes (2).jpg

To learn more about each of these companies, watch Truaxis' FinovateFall 2011 demo, T8 Webware's FinovateFall 2011 demo, BillGuard's FinovateFall 2011 demo, and Micronotes' FinovateFall 2010 demo.
Pageonce Logo.jpgEarlier today, Pageonce launched a mobile bill pay service that provides consumers more flexibility when paying bills:

"Now Pageonce gives users the option to pay immediately from their choice of accounts with a few taps on their smartphone. Pageonce makes paper bills, checks and stamps, and logging into several different websites for online bill pay, obsolete -- helping users save time and avoid annoying late and overdraft fees."

Here's how it works:

Pageonce collects information about a user's bills, including due date, amount due and itemized details, and presents them in an easy-to-read format on a smartphone. Before a bill is due, users get an alert that allows them to pay in three steps:

1. Select how to pay 
2. Enter the amount 
3. Tap Pay

This service is available on Apple and Android platforms for $4.99 per month.

To learn more about Pageonce, watch its FinovateFall 2010 demo.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSouth Florida Business Journal covers Weemba's borrower-lender matching service.
  • Deutsche Well World profiles eToro and also highlights Currensee and Zecco.
  • Expensify launches a lite version of its iPhone app.
  • RobotDough announces its Portfolio Monitoring Tool & discusses its FinovateFall experience.
  • NBC 12 in Virginia reports InComm named Leading Prepaid Organization and Best Prepaid Product Distributor at 2011 Prepaid Awards.
  • FierceFinanceIT looks at how Zecco and TradeKing are using social media.
  • On Deck Capital reviews its experience at BAI.
  • Fox Business News looks at PayNearMe's quest to assist consumers without credit cards.
  • HelloWallet launches feature that allows users to manually add transactions.
  • Spectrem's Millionaire Corner blog profiles Bills.com.
  • Pageonce launches Mobile Bill Pay Service that allows consumers to "Tap to Pay."
  • American Banker on how four Finovate alums unwrap the payments genome.

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.
Prosper Logo.jpg
Yesterday, peer-to-peer lending service Prosper.com announced a four-fold, year-over-year increase in the number of loans it has funded. 

In addition, it provided data for September:

  • "Record September originations of $7.4 mil, up almost four-fold from $2.0 mil last year
  • 11% compounded monthly growth rate over the last 12 months
  • Currently, providing a 10.7% "seasoned return" to investors
  • Actual annualized loss rate of 5.5%, beating forecast loss rate of 7.1%
  • High credit-quality consumer loans: 737 average Experian Scorex PLUS credit score for first-time Prosper borrowers."

To learn more about Prosper.com, watch its FinovateStartup 2009 demo.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAfter being acquired by Taulia, billFLO announces its services will be shutting down Dec 1, 2011.
  • Fox Business News mentions ChargeSmart's mortgage payment solution.
  • DoughMain explains how to ease children's financial fears. 
  • Business Insider uses BillFloat and Prosper.com as examples of alternative financing companies.
  • Dwolla now integrated with Active Merchant for use in Shopify.
  • Weemba seeks to help with cash-flow issues during the holiday season.
  • Prosper's September volume is four times larger than 2010.

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.
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete

Out of 268 alumni, 75 had more than 10,000 unique U.S. visitors in August 2011 and are included in the tables below. Of those, 41 (55%) had more visitors in August than July. Year-over-year, 45 (60%) had traffic increases.

Private Companies

  • Seeking Alpha -- the most-trafficked in August with 2.5 million unique visitors -- also had the highest increase in number of unique month-over-month visits with 300,000 more visits in August than in July.
  • Budgettracker.com saw the highest monthly growth percentage with more than 6.5 times the number of unique visitors in August compared to July.
  • Betterment had the highest percentage growth year-over-year, up 88x.
  • Cortera had the highest number of unique year-over-year visitors, growing by 1.5 million. 
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Source: Compete.com retrieved week of October 3, 2011
1) The previous month recorded was July 2011
2) Truaxis was formerly BillShrink
4) Kasasa is powered by BancVue
5) Checkingfinder.com is powered by BancVue

Public Companies

  • Fiserv had the highest month-over-month percent growth, with 50% more visitors.
  • CheckFree had the highest percentage growth year-over-year, with over 5 times the number of visitors.
  • S1 also had a high percentage growth year-over-year, doubling its visitors.
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Source: Compete.com retrieved the week of October 3, 2011
1) The previous month recorded was July 2011.
_______________________________________________________
Notes:
1. We reviewed 268 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = Not measurable
4. t= Tie
5. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.
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  • FreeMoneyWisdom blog interviews Jon Stein, Betterment CEO.
  • Silicon India Startup blog lists Expensify as a good app for busy CEOs.
  • National Review Online holds BankSimple up to Richard Bronson's new ethics initiative.
  • Bremer Bank to add CheckFree RXP from Fiserv.
  • Yaron Samid of BillGuard & Jon Stein of Betterment to show how their products help solve #occupywallstreet issues.
  • Check out Finovate Alumni Website Traffic in August.
  • mFoundry & SecondMarket Hit Deloitte's 2011 Technology Fast 500 list.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
This week, Deloitte announced the North America 2011 Technology Fast 500 winners. The list encompasses* multiple industries and ranks companies based on their 4-year revenue growth percentage (2006 to 2010).

Here are the Finovate Alumni listed in order:
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SecondMarket
 
Rank: 84
Headquarters: New York, NY
Founded: 2004

mfoundry.jpg
Rank: 105
Headquarters: Sausalito, CA
Founded: 2004

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Rank: 425
Headquarters: Mountain View, CA
Founded: 1998


To learn more about these companies, watch SecondMarket's FinovateStartup 2009 demo, mFoundry's FinovateFall 2010 demo, and Google's FinovateFall 2011 demo.
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*Methodology: In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Thumbnail image for Thumbnail image for BillGuard.jpgYesterday, TechCrunch covered BillGuard's new round of funding:

"Khosla led the round, a $10 million series B. Other investors include Founders Fund, Eric Schmidt's Innovation Endeavors, Bessemer, IA Ventures, Saul Klein, and Joe Lonsdale. The startup raised a $3 million series A in February, 2011."

BillGuard seeks to use this funding to promote growth, support R&D efforts, and enhance business development and marketing efforts.

To learn more about BillGuard, watch its FinovateFall 2011 demo
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMyBankTracker.com covers the FinovateFall Best of Show videos.
  • American Banker discusses the effects that PayPal and BankSimple will have on bank branches.
  • InComm named Leading Prepaid Organization and Best Prepaid Product Distributor at 2011 Prepaid Awards.
  • Dynamics wins Best of Show at 2011 BAI Retail Delivery Conference for its next-gen magnetic stripes.
  • Des Moines Register reports that Ben Milne, Dwolla CEO is to present at the Thinc Iowa event.
  • T8 Webware to provide Call FCU with a custom website.
  • A+FCU launches BillShrink: Statement Reward.
  • Prosper provides even better rate discounts for repeat Prosper borrowers.
  • BillGuard receives $10 Million in Series B funding.

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.
Finovate2011_low.pngLast month in Manhattan, 63 leading fintech companies showed off their latest innovations to a packed house at FinovateFall 2011. The audience was our largest ever with over 1,000 bankers, analysts, VCs, bloggers, press and entrepreneurs in attendance.

As usual, we've put the videos of all the demos live in the archives for free so you can watch at your convenience and share them with others. We hope you enjoy the videos and that you'll consider joining us in person at our next conference, FinovateEurope 2012 (February 7th in London)!  

FinovateFall 2011 was sponsored by: The Bancorp, Tier One Partners, TxVia, and the law firm of CB&S.

FinovateFall 2011 was partners with: BankInnovation.net, BankerStuff, Celent, CardWeb, deutsche-startups.de, Filene Research Institute, Finance on WindowsPYMNTS.com, Mercator Advisory Group, MyBankTracker.com & Mobile-Financial.com.

  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTSYS signs payments agreement with Imperial Bank.
  • The Baltimore Sun mentions BillFloat & Prosper.com as two companies that are assisting cash-strapped consumers.
  • LearnVest launches LV Mom's Newsletter & 2 new products: Baby On Board Bootcamp & LV Discussions.
  • Weemba gives small businesses simple, direct pipeline for raising financing pre-holiday season.
  • Morningstar recommends CheckFree to help control your bills by setting up automatic payments.
  • Continuity Control buys Compliance Services Group of Iowa & Kirschler Peterson & Associates of Atlanta.
  • Crain's New York Business.com mentions BillGuard, BankSimple, Betterment, SecondMarket, On Deck Captial & Plastyc.
  • Jemstep launches out of beta to offer custom investment advice & guidance.

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.
JemstepLogo.jpgJemstep launched an investment guidance and management service to the public today. The purpose of the free service is to help investors better control their financial future:

"Three years in development, the company's patented investment evaluation technology analyzes more than 20,000 mutual funds and exchange-traded funds (ETFs) to identify the best investment options based on each investor's unique goals and preferences. Data-driven, unbiased and transparent, Jemstep's recommendations enable investors to decide what to buy, what to sell and what to keep."

Jemstep CEO Michael Blumenthal describes the new service as personalized, objective, and actionable.

To learn more about Jemstep, watch its FinovateSpring 2010 demo.
Q2ebankingLogo.jpgLast week, Austin-based Q2ebanking announced that it partnered with Unwired Nation, a company that provides mobile apps as a service.

"The enhanced offering is set to enable financial institutions to reach retail and business customers via multiple mobile channels and devices. Under terms of the agreement with Unwired Nation, Q2ebanking is to expand its ability to deliver mobile banking apps, making them available for both Android and iPhone users."

Q2mobile, its ebanking platform, allows access to banking transactions at more than 300 financial institutions in the U.S.

To learn more about Q2ebanking, watch its FinovateSpring 2011 demo.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgGCS Federal Credit Union selects Geezeo to provide PFM service.
  • T8 Webware presents Thinc Iowa Opening Party Oct. 20.
  • Clairmail wins BAI Mobile Pace Setter Award.
  • Silver Tail Systems is selected as a SINET 16 Innovator.
  • CarryQuote wins prestigious 2011 Bully Award.
  • Everything Finance Blog reviews Prosper.com.
  • Bank Innovation reports that Tyfone now allows banks to provide clients with mobile wallet solution.
  • Financial Edge lists the Credit Karma blog as 1 of 6 blogs to help you budget better.
  • T8 Webware signs 14 bank customers to its Grip Platform.
  • Lighter Capital CEO Andy Sack guest-posts about revenue-based financing on AVC blog.
  • Q2ebanking partners with Unwired Nation to expand its mobile banking.

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.
T8WebwareLogo.jpg
Last week, Iowa-based T8 Webware was featured in American Banker article about the early traction of the company's Grip mobile app launched at Finovate last month:

"Grip presents users with a consolidated view of their finances, including a dashboard of available cash and credit, across all aggregated accounts. It also mines aggregated transaction data for possible bank cross-sell opportunities."

To learn more about Grip watch T8 Webware's FinovateFall 2011 demo.

Expensify Develops Two New Features

Thumbnail image for Expensify.jpgEarlier this week, Expensify rolled out two new developments. One of these developments, called the Odometer Reading, helps users more efficiently record vehicle miles travelled:

"Now you can enter your start odometer reading before you go on a trip, save that value, and then after you get there, enter the end odometer reading, and we'll calculate 
the distance and add that mileage expense."

Thumbnail image for expensify odometer.jpg
To learn more about Expensify, check out its FinovateSpring 2011 demo.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAlphaClone launches "Alternative Alpha" index.
  • Forbes discusses Cardlytics and Offermatic's approach & how they rival GroupOn.
  • Smart Money Mag details how FeeFighters can help cut costs in small businesses.
  • Jack Henry ProfitStars announces availability of the Gladiator NetTeller Enterprise Security Monitoring solution.
  • MyCyberTwin launches DIY Intelligent Virtual Agents.
  • Tyfone Introduces iCashe Mobile Wallet That Combines Mobile Banking With Digital Commerce.
  • UseMyServices partners with SafetyPay for mutual network expansion.
  • NYConvergence reports BankSimple prepares for its New York debut.
  • Business Insider recommends using BillGuard and Mint.com.
  • 24/7 Wall St looks at the P2P opportunity that Prosper brings.
  • McGuireWoods consulting is lobbying to Congress for the use of Dynamics smart cards.
  • Business Insider mentions Xero as a "great Web-based accounting tool."

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.
IMG_1080.JPGThe FinTech 100, a list of the top revenue-grossing fintech firms, was announced Wednesday at BAI Retail Delivery

Nine Finovate alumni made the cut, including BancVue, debuting at number 95. Pictured to the right are James Ladas and Gabe Krarcek from BancVue. 

Here are the Finovate alumni, listed according to rank:

2011 Rank: 1
2010 Rank: 3

Fiserv
2011 Rank: 2 
2010 Rank: 1

2011 Rank: 10
2010 Rank: 11

2011 Rank: 18
2010 Rank: 18

2011 Rank: 19
2010 Rank: 20

2011 Rank: 24
2010 Rank: 15

2011 Rank: 34
2010 Rank: 34

2011 Rank: 62
2010 Rank: 76

2011 Rank: 95
2010 Rank: NR

See the full list here. To learn how the rankings are calculated, see the American Banker article
Thumbnail image for PayPalLogo.jpgThis morning at the BAI Retail Delivery conference, I met with Dan Schatt from PayPal to get the inside scoop on its financial innovations. Here's what I found out:

1) It is introducing P2P payment capability with financial institutions. It is now live with USAA and will soon be developed for BancVue's network of nearly 1300 community banks.

2) It has reached an agreement with mFoundry to bring mobile solutions that bring a native app experience to customers located all over the globe. 

3) It has teamed with NCR and S1 to allow customers to send real-time P2P payments directly from ATMs to another individual with a PayPal account.

4) It is partnering with MeridianLink to allow new bank customers to fund their online bank accounts by transferring funds directly from their PayPal account.

5) It has formed a relationship with ezRez Software that, starting next year, will allow consumers to use rewards points and travel miles as a "fluid currency" and deposit that money into their PayPal account. United Airlines customers will be the first to have access to this service through the MileagePlus program.

PayPal will be publishing the details about these exciting developments tomorrow, Thursday, October 13, and I will link to it here

To learn more about PayPal, BancVue, and mFoundry, check out PayPal's FinovateSpring 2011 demo here, BancVue's FinovateSpring 2011 demo here, and mFoundry's FinovateFall 2010 demo here.
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  • Hastings Mutual Insurance Company selects Identity Theft 911 to offer Security Breach Response Coverage.
  • Andera acquires oFlows to "deliver the whole enchilada."
  • mFoundry opens office in San Francisco.
  • Backbase announces Netherlands insurance co-op Univé, has chosen Backbase software. 
  • USA Today lists TradeKing as an option to help beginner investors.
  • Clairmail enhances adoption-services program with new benchmarking service.
  • Q2ebanking enhances mobile banking solution, supports clients' mobile strategies.
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.
Anderaoflows.jpgThis morning, customer acquisition company Andera announced that it has acquired San Francisco-based oFlows to deliver a paperless experience to online bank customers signing up for new products or services:

"The combination of Andera and oFlows technology and services will provide the first truly integrated acquisition and origination platform for all products across all channels--branch, call center, online, and mobile. You couldn't ask for a better match"

The deal, which closed October 5, will combine the two companies. Andera will retain its branding and take on the oFlows brand as a product or platform name. 

Former oFlows CEO Scott Pitts will join Andera as chief product officer. Pitts says. "Together we deliver the whole enchilada."

To learn more about Andera and oFlows, watch Andera's demo from FinovateStartup 2008 and oFlow's demo from FinovateSpring 2011.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNY Times reports how BancVue works with community FIs to offer checking accounts.
  • Prosper looks at its growth and returns over time.
  • Cnet reviews the BankOns iPhone app.
  • CTV News recommends Wall Street Survivor as a learning tool.
  • BizNews looks at how Kabbage provides capital to online businesses.
  • SF Gate reports how PayNearMe makes paying bills easy for the underbanked.
  • CU Insight reports GCS Federal Credit Union signs with Geezeo.
  • Payments Journal examines CashStar's plan for a mobile app.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
BAIIMG2.jpg
The BAI Retail Delivery conference begins tomorrow with 29 Finovate alumni participating in sessions and/or exhibiting on the trade show floor.

Session Speakers
  • Tuesday, Global Game-Changer Session
    Speaker: Jim Taschetta from FreeMonee
  • Wednesday, Technology for Business Summit 
    Speaker: Mitch Jacobs from On Deck Capital
  • Wednesday, Technology for Business Summit Session 
    Speaker: David Eads from Kony Solutions
  • Thursday, Technology for Business Summit Session
    Speaker: Eric Connors from Yodlee
  • Thursday, Marketing & Product Management Summit Session 
    Speaker: Rod Witmond from Cardlytics
Exhibitors 
BAI Mobile Link
Mobile Link Panel Discussions
Solutions Theatre
Jim Bruene and I (julie@netbanker.com) will be in attendance and will update the blog and Twitter with new developments throughout the event. 
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMountain West Capital Network names Lendio fastest-growing company in Utah.
  • Business Insider recommends signing up for BillGuard if you're a victim of ID theft.
  • Firmology profiles Samurai by FeeFighters.
  • Truaxis wins the Innotribe Start-Up Challenge for StatementRewards Platform.
  • Kony names Sriram Ramanthan as Chief Technology Officer.
  • The Examiner advises using Credit Karma's Credit Simulator and reading LearnVest's blog to keep aware of money matters.
  • Dave Enjoys' blog highlights features of BankSimple.
  • Credit Karma's CEO Ken Lin reports What Banks and Lenders Know About You From Social Media on Mashable.
  • KAPITALL launches interactive news site KAPITALL WIRE.

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.
kapitall-logo.jpg
Earlier this week, online investing platform KAPITALL launched KAPITALL WIRE at wire.kapitall.com:

"KAPITALL WIRE features timely, in-depth analysis of individual and screened groups of companies, and is enhanced by KAPITALL's interactive tools, which are embedded in each article. KAPITALL WIRE crunches the numbers so investors don't have to do the heavy lifting themselves."

In addition to the articles, it also has sections on investment ideas and investing 101.

To learn more about KAPITALL, watch its demo from FinovateStartup 2009.

creditkarmalogo.jpgUsing data collected from 5+ million credit cards it tracks, Credit Karma recently released a new feature called Credit Card Statistics. It can be used by consumers, or banks, to compare the customer attributes of various cards or card issuers. 

The following portfolio metrics are available:

    • Credit-score distribution (see example below)
    • Average credit-limit distribution
    • Average balance distribution
    • Credit limit-utilized distribution
    • Age-of-cardholder distribution
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It also provides a Yelp-like platform where clients can write and read reviews about the credit card.

To learn more about Credit Karma, watch its FinovateStartup 2009 demo.
Thumbnail image for DynamicsLogo9.11.jpgYesterday, Dynamics announced multiple volume agreements with undisclosed card issuers to implement its next generation payment-cards technology such as: 

    • MultiAccount
    • Hidden
    • Redemption
    • Dynamic Credit Card 
Dynamics CEO Jeff Mullen states:

"This step is an important milestone for Dynamics. Card issuers have acknowledged the importance of our technology to empower customers with choice at the point of sale. Dynamics is very pleased with the growing roster of leading issuers that have endorsed and adopted our next-generation magnetic stripe technology."

Initial orders have already exceeded 1 million units. To meet this demand, production will begin immediately and scale through 2012.

To learn more about Dynamics, watch its FinovateFall 2010 demo.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker highlights BillGuard's monthly credit/debit card scan report.
  • Offermatic unveils OfferMatch, a pay-for-performance marketing channel that brings customers.
  • NBC Chicago names Ben Milne, Dwolla CEO, as a person to watch during Ideas Week.
  • WealthTouch partners with TILE Financial to create portfolio-reporting offerings for high net worth young adults.
  • Wall Street and Technology lists Zecco as 1 of 6 brokerages leading the way in social media.
  • New York Times blog reports BankSimple to go live on the Web next month.
  • HelloWallet announces its fall webinar series.
  • Business Daily Africa compares Xero and Kashoo accounting services with QuickBooks.
  • Credit Karma's new feature graphically compares credit card clientele.
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 LendioLogo8.31.11.pngEarlier today, Salt Lake City-based Lendio announced a partnership with Prosper. Lendio CEO Brock Blake cites:

"In the short period of our partnership, about 80 Lendio 
clients have been approved to list through Prosper, resulting 
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in excess of $1,000,000 in potential loans."

Through this partnership, Lendio and Prosper hope that they will enable more small businesses to secure funding through loans.

To learn more about Lendio and Prosper, watch Lendio's FinovateSpring 2011 demo and Prosper's FinovateStartup 2008 demo.
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  • The Future of Media blog refers to CLOVR Media as a disrupter in the industry.
  • Mindful Money lists Zopa as an alternative to receiving bank funding.
  • Josh Reich, CEO of BankSimple, speaks up on why he thinks traditional banks suck.
  • ProfitStars introduces Gladiator Enterprise Security Monitoring Module for NetTeller online banking clients.
  • Wonga CEO named Ernst & Young Entrepreneur of the Year for eCommerce, UK.
  • CU Times reports MShift helps Alaska CU provide iPhone and Android Apps to its customers.
  • PayPal to Open a brick-and-mortar pop-up store in Manhattan.
  • edo Interactive is awarded DMA Innovation Award.
  • Lendio's partnership with Prosper will facilitate small business funding.

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 edo Logo10.11.pngEarlier this week, Nashville-based edo Interactive was presented with two awards from the Direct Marketing Association (DMA) for its Prewards Performance Marketing Platform:

    • Early Stage winner
    • Innovation Award winner in the Real Time and Trigger Marketing category 

edoAward.jpg
The purpose of the DMA awards is to recognize the innovative advances being made in marketing technology.

To learn more about edo Interactive, watch its FinovateSpring 2011 demo video.
PayPalLogo.jpgToday, TechCrunch reported that PayPal is opening a brick-and-mortar pop-up store in downtown Manhattan to showcase its new tools and technology:

"The space will be located at 174 Hudson, which is located in the Tribeca neighborhood of Manhattan. Over the next three and a half months, PayPal will be inviting merchants to visit the space where they will have the opportunity to get real-time demos of the technologies in realistic point-of-sale scenarios."

The store is set to open November 1 of this year.

To learn more about PayPal, watch its FinovateSpring 2011 demo video.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMountain Top Financial Services reviews Lending Club.
  • Bank Innovation discusses how Cartera Commerce and Offermatic are changing the daily deals space.
  • Equifax purchases Charleston-based e-Thority software company.
  • Lighter Capital searches for a company to fund that makes or sells sweet things.
  • San Francisco ABC 7 recommends findabetterbank.com in order to avoid bank fees.
  • T8 Webware CEO Wade Arnold discusses Grip on the Silicon Prairie's PrairieCast.
  • The Washington Post profiles HelloWallet.

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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CashStar announced its plans to roll out a mobile app called MobileGiftReward early next year that will be piloted by undisclosed financial institutions. The app will allow consumers to use unredeemed rewards points held by banks. The goal of this app is to remove the hassle from converting rewards points into usable items:

"With the app... users can convert unused rewards points into gift cards usable at CashStar client merchants."

The merchants include The Gap, Starbucks, Home Depot, and many others. Here's how it works:

"Users can choose the brand they want. The app then generates a bar code that can be scanned at any of that brand's stores. In cases where the merchant doesn't have a scanner at checkout, the clerk can key in a 16-digit number that appears with the bar code."

CashStar demonstrated this app at FinovateFall 2011 last month in New York. A full-length demo will be posted within the next two weeks.
Brightscope Logo10.11.jpg
BrightScope, a financial information company that publishes retirement plan ratings and provides a free directory of financial advisors, recently announced that it plans to launch a new consumer-comment section:

"BrightScope, which provides background on 450,000 advisors based on reports from the Securities and Exchange Commission and FINRA, is adding a section to its Advisor Pages that will let consumers write reviews about advisors - a concept akin to popular consumer websites like Yelp or Tripadvisor.com."

The company plans to integrate this feature into the Advisor Pages by the end of this year.

To learn more about BrightScope, watch its Finovate 2009 demo.
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  • Pittsburgh's Smart Business looks at how Dynamics CEO Jeff Mullen has founded and grown the company.
  • James Varga from miiCard reflects on FinovateFall.
  • BlueRidgeNow.com recommends using findabetterbank.com to avoid banking fees.
  • New Zealand Herald discusses Rod Drury's success with taking Xero public.
  • Entrepreneur looks at how Dwolla's services compare to big bank's small business services.
  • Bobber Interactive and Bundle are making finance interesting with social engagement.
  • The San Francisco Chronicle reports LearnVest is 1 of 30 most valuable startups in New York.
  • Bank Technology News cites that Citi is the first bank to publicly launch a site designed using Yodlee's FinApp platform.
  • Mint.com discusses the value of CreditSesame's Credit Badge.
  • The Spokesman-Review discusses the popularity of P2P lending sites Prosper and Lending Club.
  • The Paypers features Samurai from FeeFighters, an online payment gateway.
  • Loren's World blog lists Expensify as 1 of 5 best apps for business women.
  • USA Today lists BillFloat as a good alternative to a payday loan.
  • DeadlineNews.com names FamZoo as a "site to see."
  • Balance Financial launches version 1.2 of its mobile 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.
Thumbnail image for Thumbnail image for Bobber_Interactive.jpgEarlier this week, Bank Technology News wrote about the gamification of finance. The article describes Capital One's promos in Zynga's CityVille (a FarmVille-like game), then looks at Seattle-based Bobber Interactive's new GoalCard:

"Users set up their accounts and access funds with a Visa debit card issued by Meta Financial Group Inc.'s MetaBank Inc. and offered by Plastyc Inc. They are encouraged to share their financial goals with their Facebook friends, and they get points and rewards for transacting and sharing the application with others."

Bundle Logo2.jpgNew York-based Bundle is also highlighted in the article for its spending tracker and comparison platform:

"Bundle, which is backed by Citigroup Inc., analyzes card transaction data to help customers track their spending. It also compares their spending to various demographic groups based on aggregated data provided by Citi and other sources."

Both Bobber Interactive and Bundle demonstrated their platforms at FinovateFall last week. Full-length videos will be posted within the next two weeks. In the meantime, check out Bobber Interactive's FinovateSpring 2010 demo and Bundle's FinovateSpring2011 demo.

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