Blog
 |
|
|
|
December 2011 Archives
 To wrap up 2011, we've compiled a list of all of the funding Finovate alumni received over the course of the year.
The results were impressive:
- A total of 34 companies received funding, some more than once
- The companies collectively raised over $423 million dollars
- The months with the highest number of companies receiving funding were June August, both with 8 companies
- The highest amount of funding came in the month of June, when the alumni brought in over $124.4 million
Here is a month-by-month breakdown of funding received:
January -- $40.8 million raised by 3 companies February -- $10.3+ million raised by 3 companies
March -- $20.4 million raised by 4 companies
June -- $124.4 million raised by 8 companies
July -- $1.1 million raised by 1 company
August -- $103.4 million raised by 8 companies
September -- $33 million raised by 1 company October-- $22 million raised by 2 companies November -- $16.3+ million raised by 3 companies December -- $52.2 million raised by 5 companies Note: Funding that companies received before they demonstrated at Finovate was not counted. If you see any funding that is not on this list, please send the name of the company along with a link to the funding information to julie@netbanker.com and I will add it.
 Yesterday, Colorado-based IP Commerce announced an alliance with Billing Services Group, a payment solution company whose OrderBridge payment gateway will use IP Commerce's Payments as a Platform Service to power a program called Secure Hosted Payments for Web Checkout: "This valuable solution for quick, branded and secure online payments provides instant access to multiple payment services, payment providers, value-added capabilities, and customizable payment options. Secure Hosted Payments (SHP) for Web Checkout, protects customer credit card information, drastically reducing PCI Compliance scope and expediting future development requirements."
Billing Services Group chose IP Commerce for the Secure Hosted Payments for Web Checkout because its open platform approach is solid, tested, and scaleable. To learn more about IP Commerce, watch its FinovateStartup 2008 demo.
 Last month, Capital Access Network (CAN) revealed two new services that help banks find alternative funding for small to medium sized businesses who don't qualify for traditional loans. Its Different Look and Pre-Look programs were developed to fill the gap between the increasing number of loan requests and the bank's lacking ability to meet those requests with traditional loans. Here's how they work: Different Look After a small business' loan application is denied, this reactive approach uses non-traditional underwriting methods that leverage CAN's Daily Remittance Platform to find alternative funding products. Pre-Look Based on a client's profile information, CAN uses its behavioral modeling, a consideration of 90 different variables, to determine who will need capital over the next 12-18 months. This proactive approach also leverages the Daily Remittance Platform, but allows the bank to offer the applicant alternative funding even before they apply for a loan. Quick facts: - 5 days: The amount of time it takes for new applicants to receive funding. Renewal customers can get funding in the same day they apply.
- $30,000: The average amount of funding provided.
- 75%: The percentage of businesses that are willing to renew funding
To learn more about Capital Access Network, watch its FinovateEurope 2011 demo.
- Best Buy Canada & Future Shop are the 1st major retailers in Canada to offer eGift Cards via CashStar.
- Fox News interviews Dwolla CEO Ben Milne about the startup's business model.
- PayPal partners with Fandango to allow users to purchase movie tickets using PayPal.
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.
 Subscription-based PFM, HelloWallet, announced yesterday that it donated 20,000 free subscriptions to its PFM service in 2011: "As part of their charitable mission to give away 1 free subscription for every 5 sold, online financial guidance company HelloWallet announced today that they have donated 20,000 free subscriptions to community organizations that serve families in need across the country in 2011..."
The goal of the donations is to provide families in need with a tool to better plan their finances. Based on the deals it recently signed, the startup estimates that it will give away 40,000 free subscriptions in 2012. To learn more about HelloWallet, watch its FinovateSpring 2011 demo.
 Today, card-linked offer innovator Linkable Networks (formerly CLOVR Media) announced a partnership with mphoria, a mobile and social merchandising platform: "This agreement will transform retail deals available on the mobile web and via mobile apps into linkable offers."
The startup also announced that CardStar will be the first mobile app to feature its card-linked offer technology:
"Both partnerships mark the launch of the Linkables mobile API and the first mobile deployment for the card linked offer industry. Now any type of restaurant, service provider, retailer or brand may capitalize on card linked offers in a mobile environment."
The two developments bring Linkable Networks into the mobile environment and allow retailers and service providers to benefit from mobile card-linked offers.
- Fox News discusses how Prosper & Lending Club help small businesses.
- BizReport examines card-linked offers from Linkable Networks (formerly CLOVR Media).
- ReadWriteWeb's Richard MacManus lists Xero as #8 in his 2011 list of top 10 web products.
- Inc Magazine lists Expensify as 1 of 8 startups to watch in 2012.
- Ping Identity makes the top 10 list of most exciting IT security vendors. Come see Ping Identity's live demo at FinovateEurope.
- HelloWallet gives away 20,000 free subscriptions in 2011 to families in need.
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.
 Jack Henry's ProfitStars, a provider of products and services to financial institutions, announced the availability of its Mobile Website platform today: "Mobile Website supports a rapidly expanding banking channel with websites developed specifically for smaller screens and on-the-go functionality while also maintaining the consistent look and ease of navigation that customers demand."
ProfitStars hopes that the Mobile Website will provide an affordable and user-friendly way for financial institutions of all sizes to expand to a mobile-optimized website. To learn more about ProfitStars, watch its FinovateSpring 2011 demo.
 Online security company Check Point Software Technologies announced yesterday that it was positioned in the Leaders quadrant of Gartner's 2011 Magic Quadrant for Enterprise Network Firewalls. Gartner's Magic Quadrant aims to recognize technology providers who are leaders, visionaries, niche players and challengers in high market growth industries. Leaders are defined as those who, "execute well against their current vision and are well positioned for tomorrow." Here are the other players in the Enterprise Network Firewalls category: 
 Mobile platform provider Kony Solutions announced yesterday that it recently earned two first place awards at MobileVillage.com's 10th annual Mobile Star Awards. Kony received two SUPERSTAR awards and one Rising Star: - "The KonyOne platform won the SUPERSTAR award in the category "Enterprise Software: Middleware"
- Developed on Kony's "Write Once, Run Everywhere" platform, the GEICO Glovebox won a SUPERSTAR award in the "Success Story: Banking or Insurance" category
- The KonyOne platform also won the Rising Star award in the "Enterprise Software: Application Development" category"
The Mobile Star Award winners are selected through nominations and an online voting process in which SUPERSTAR is the first place award and Rising Star is the first runner up. To learn more about Kony, watch its FinovateFall 2011 demo.
- Steven Kietz, former Mobile Money Ventures CEO, joins EDO Interactive as GM & EVP of Strategic Partnerships.
- CNNMoney discusses how Simple can provide a no hassle bank account.
- Melrose Mutual Insurance Company, Grinnell Mutual, & ID Theft 911 partner to remind shoppers to safeguard identities.
- Forbes names Dwolla's Ben Milne to '30 Under 30' list for finance.
- BizReport interviews Xero to discover how the cloud is helping small businesses.
- Fox Business News recommends visiting Credit Sesame and Credit Karma to check your credit score.
- INOVA FCU depicts its success from using Mortgagebot's PowerSite.
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.
 As promised last week, here is our second "sneak peak" into the hot young startups and established leading companies that will demo their latest fintech innovations at the second annual FinovateEurope next February 7th in London.
As we mentioned in the first sneak peak, we asked each handpicked company to "whet your appetite" by providing a short summary in their own words of the innovation that they will be debuting on stage. We've compiled them below.
Don't miss your chance to see fast-paced demos of the newest ideas from each company and meet the execs responsible for the cutting edge of innovation in financial and banking technology. Plus get your FinovateEurope ticket before December 23rd and you'll lock in the early-bird price! _______________________________________________________
 Backbase will be presenting major new features in its Bank 2.0 Portal Manager, focusing on the following key points:
- Improved editor for page composition on regular browsers and mobile devices
- Advanced segmentation and targeting for different customer groups
- Fully integrated forms editor for enrollment and BPM
- Advanced analytical and performance tools
Innovation type: Marketing, mobile and tablet UI, online UI
 Aimia's unique advertising platform, powered by Cardlytics, enables banks to deliver rich, relevant rewards to their customers. The platform uses customers' unique purchasing history to deliver rewards that strengthen retention rates, increase card usage and improve customer relationships. The Cardlytics platform does all this without the need for any personally identifiable customer data.
Critical to the success of the programme is merchant engagement. Aimia and Cardlytics will be demonstrating the portal which is used by merchants to track offers and report on revenue. The suite of merchant management tools allows merchants to deliver targeted strategies that deliver measurable results.
Innovation type: Cards, marketing, rewards
 eToro provides you with immediate access to the largest investment network in the world giving you the ability to quickly find and easily build your own people-based portfolio of top performing traders. Automatically copy every trade your personal dream-team makes into your own investment account and start copying the success of the most successful traders.
eToro reinvents the way people invest their money by propelling them into the fast growing world of social investing. Take advantage of the wisdom of the crowds and make smarter investment decisions with full transparency and control over your invested funds at any given time.
Innovation type: Investing, online UI, PFM
 KYC compliance is a hot topic for financial services and Fenergo will introduce its Deal Manager application for client on-boarding, KYC compliance and account opening.
Fenergo will demonstrate how banks and financial institutions can reduce the burden and cost of KYC compliance with its straightforward application which manages all of the complex KYC data gathering and document processes and ensures full compliance with industry regulations.
The best bit is that its Deal Manager application also supports credit processes and legal document execution, so processing new client applications has never been so straightforward.
Innovation type: Back office, sales
 An onboarding tool that increases customer engagement at the same time? Figlo offers you a complete solution to gain insight in financial matters on a consumer level. Financial planning is now accessible for everyone on any device.
Curious? Figlo's 7 minute demo will reveal the power of financial insight.
Innovation type: Mobile and tablet UI, sales
 Handpoint will be demonstrating the first totally secure mobile Chip & PIN payment solution for tablets and smartphones. The solution supports all card payments; magstripe (MSR), Chip & PIN, Chip & signature and contactless NFC Payments (2012).
With Handpoint's Platform-as-a-Service acquiring, banks and MNOs can offer small/micro merchants card payments, tablets, and smartphones under their own brand name.
Innovation type: Payments, mobile and tablet UI
 Holvi replaces the plain old bank account with a current account built from the ground up for group activities. It helps customers collect more money, better understand their finances, and save time for their core activities. Customers include event organisers, sports clubs, and student associations and they can do all their banking with Holvi, without needing another bank account.
Holvi is regulated as a payment services provider by the Finnish Financial Supervisory Authority (FIN-FSA), and it has the necessary banking partnerships in place to operate payment accounts for customers on a pan-European basis.
Innovation type: Banking, online UI, payments
 Facebook logins are crucially important. Online banking logins are severely difficult to remember. Can something be done about this and still meet the highest standards of identity security?
Ping Identity will show you how to deliver the best login experience to your prospects and customers. Don't turn them away with form filling and repetitive password requirements. Give them access to your financial networks and partners. Build trust and relationships with your customers.
Innovation type: Identity, marketing, security
 Meniga is expanding its PFM solution to add a new, highly user-centric layer on top of traditional online/mobile banks.
The interface de-emphasizes real accounts and actual balances and instead shows "uncommitted balance" and virtual accounts. It also allows users to automate routine tasks and includes an alert framework designed to bring peace of mind by alerting users before bills go unpaid or before any account's balance becomes too low to meet commitments and forecasted expenses.
Innovation type: Online UI, Payments, PFM
 Investing is scary. I can invest, but I forget to buy or sell or rebalance. My financial advice has been useless. I want to be in control of my finances. I know I should be doing more with my money.
Nutmeg knows that investing is about more than money. It's a passport to the life you want. That opportunity shouldn't be reserved just for the wealthy, or just for those in-the-know.
Nutmeg asks, what if investing were simple and beautiful? And what if everyone could do it?
Innovation type: Investing, online UI, PFM
 Banks around the globe have really struggled to understand how they can leverage the power of Facebook.
Serverside has developed a new and unique way to leverage Facebook in an exciting and engaging manner that drives real brand value, loyalty and engagement from your customers.
Innovation type: Cards, marketing
 Going paperless saves money and improves customer service. However, most customers are not switching off paper because the registration process is inconvenient, complicated and results in having to remember another username and password and to fetch the document every month.
Striata's eConsent puts you in control of the paperless conversion process. Its clients are exceeding their paperless objectives and achieving a positive ROI in a matter of months.
Innovation type: Back office, communications, marketing
 What would make the biggest impact on the way you manage cash flow and financing? Improved processes? Streamlined operations? Or maybe more flexibility in the way you manage payment terms with suppliers?
Things change. Shift happens. Tradeshift has already transformed invoicing, now its doing the same with supply chain finance.
Innovation type: Back office, payments, small business
Recently, the French government signed a deal with online invoicing company Tradeshift. One of the government's divisions, ADETEF, plans to implement the London-based startup's invoicing technology: "ADETEF, which is the international assistance agency of the ministries for economy, budget and sustainable development, will use the company's online platform to connect with suppliers and manage invoices digitally, eliminating the need for manual processing."
This move aligns with The Pan-European Public Procurement Online (PEPPOL) initiative that aims to standardize e-invoicing for the European Union. To learn more about Tradeshift, come watch its live demo at FinovateEurope February 7, 2012 in London.
  Mobile banking platform company, Monitise and banking and payments technologies provider, FIS have entered into a five year strategic partnership agreement: "Under the terms of the five-year deal, which involves multi-million dollar per annum revenues, FIS and Monitise have created an agile mobile development and deployment team that will help banks and other financial institutions defend and extend their role in the payments industry by creating secure and innovative new products and services.'"
While the two were previously in a joint venture agreement, Monitise bought out the joint venture a little over a month ago, leaving FIS with a 3.3% equity stake. To learn more about Monitise and FIS, watch Monitise's Finovate 2007 demo and FIS FinovateFall 2010 demo.
- Scotsman.com recommends using Zopa as a way to earn a better return on investments.
- Experian announces Financial Stability Risk score.
- 123Kinect profiles ETRONIKA. Come see the technology live at FinovateEurope on February 7.
- Symantec features Q2ebanking in its podcast.
- Monitise signs 5 year partnership agreement with FIS.
- Tradeshift signs deal with French government.
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.
 Swipely, the startup that provides loyalty rewards for local businesses made two announcements today. First, the Rhode Island-based startup is expanding its services to the Boston area: "Swipely, the free loyalty and rewards program for Main Street, is expanding to the Boston area to help more than 150 area retailers turn credit card transactions into interactions. Swipely gives these new merchant members a hassle-free way to understand, retain and engage customers with loyalty rewards and personalized offers without coupons or keychain cards."
 Providence, Swipely's home base, was the pilot city for Swipely's rewards-based platform. Boston will be the second, and New York and San Francisco will be next in line for its national expansion.
Second, Swipely simplified the credit card enrollment process: "After some significant effort to integrate more deeply with the credit card network, we're excited to unveil our simpler one-step card enrollment. Simply provide your 16 digit card number to start earning cash back rewards; there's no longer any requirement for additional bank info when adding your card."
This upgrade is not yet available in Rhode Island but will be soon. To learn more about Swipely, watch its FinovateFall 2011 demo.
- Kabbage secures second U.S. patent for online merchant finance platform.
- IP Commerce to assist BillingTree with expediting merchant boarding services.
- MyBankTracker compares PFMs including Mint, HelloWallet, and Pageonce.
- Business Insider gives an tour of Credit Sesame's new 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.
 Dwolla, a Des Moines-based payments network, launched a new feature today called Instant. By avoiding the electronic funds transfer process that usually takes 2-3 days, the new feature gives Dwolla's 70,000+ users immediate access to cash: "Instant is a new opt-in feature that provides you access to cash immediately. When you turn the feature on, you can deposit and send cash without the wait or delay users typically bump into with Dwolla. Whether you're in a combine, on the streets of New York, walking down the Embarcadero in San Francisco, or stopping in at Mars Café in Des Moines, if you have access to the Internet, you have cash."
When users want to use Instant to make a purchase from the 4,000+ merchants in Dwolla's network, they have two options of funding sources. They can either link to a bank account or borrow money from Dwolla and pay it back at the end of the statement period. If the user chooses the latter option, there is a $500 limit.  The pricing structure is simple. Here's how it works: - $3/ month participation fee. This can be turned on and off at any time.
- $5 late fee if the user has not paid his Instant balance by the end of the statement date
To learn more about Dwolla, watch its FinovateSpring 2011 demo.
- Celent's report identifies ProfitStars as the market share leader in Remote Deposit Capture.
- Finextra looks at the growth and success of Lending Club, Prosper, and Zopa.
- PayPal plans its own version of daily deals.
- Dwolla gives users instant access to cash.
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.
 Credit Karma announced today that it has teamed up with Intuit to provide free credit scores to Intuit-powered financial institutions within their online banking platfom: "With NorthCountry FCU as Credit Karma's first Intuit-powered partner, Credit Karma is certified to work with Intuit Financial Services clients to provide the Free Credit Score Service within the financial institution's branded environment. The Free Credit Score for Members Service gives consumers a monthly credit score and a suite of personalized credit management tools to better manage their credit."
When signing in to Credit Karma via Intuit's Digital Insights online banking system, consumers will have the benefit of a single sign-on. To learn more about Credit Karma and Intuit, watch Credit Karma's FinovateStartup09 demo and Intuit's Finovate 2009 demo.
Yesterday, mobile platform developer Kony Solutions launched KonyOne, a platform that allows a single application to deliver both native apps and mobile web across multiple devices: "Offering true native support for all seven operating systems (including iOS, Android, BlackBerry, Windows Phone 7, Java ME, Symbian, webOS) along with simultaneous support for the mobile web, the KonyOne platform provides a secure, scalable and extensible mobile middleware runtime platform that can be seamlessly integrated with existing services."
Kony also mentioned that KonyOne will support HTML5 updates such as touch specific features and widget enhancements. To learn more about Kony Solutions, watch its FinovateFall 2011 demo.
 Seattle-based doxo announced yesterday that it has been selected as a winner for the Red Herring Global 100, a list that identifies the top private tech companies in Europe, North America, and Asia: "Selected from a field of leading global companies, doxo was recognized due to the success of its transformative technology that changes the way businesses and consumers connect and go paperfree"
To see the full list of winners, visit here. To learn more about doxo, watch its FinovateSpring 2011 demo.
- The Wall Street Journal lists Prosper, Lending Club, and Weemba as resources for home financing.
- PayNearMe partners with iSend to simplify international gift giving this holiday season.
- Doxo wins Red Herring Global 100.
- Credit Karma and Intuit team up to provide credit services within FI-branded environments.
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.
 Cloud-based fraud detection company ThreatMetrix announced today that it was named one of 100 Red Herring Global 100 winners. Red Herring's list comprises 100 leading private companies in North America, Europe, and Asia. Its editorial staff selected the companies for their technologic innovation, company health, management quality, and market penetration. To see the full list, visit here. To learn more about ThreatMetrix, watch its FinovateStartup 2009 demo.
 Kabbage, provider of working capital to online retailers, announced a new round of financing today. The startup received $12 million in debt financing from California-based Western Technology Investment. Kabbage states that the money will help it provide more working capital to its network of 10,000-plus online merchants. To learn more about Kabbage, watch its FinovateFall 2011 demo.
 Last week, PayNearMe announced PayNearMe Auto, a new version of its service that allows Buy Here Pay Here vehicle dealers to accept cash payments in a broader number of locations: "PayNearMe Auto is a secure, hosted Web application that dealers can have up and running in less than 15 minutes. Dealers simply enter the buyer's information and assign the individual a PayNearMe card. To make a payment, the customer hands the card and cash to a store associate at any of the 6,400 participating 7-Eleven stores throughout the United States. Dealers are notified when the payments are made and the customer can use their PayNearMe card repeatedly."
 PayNearMe Auto aims to increase operational efficiency by allowing merchants to securely collect payments off-site. To learn more about PayNearMe, watch its FinovateFall 2011 demo.
- Visa certifies authentication system from Transecq's sister company, ENTERSECT.
- New Scientist recommends borrowing from the crowd by using P2P sites Zopa, Prosper, & Lending Club.
- Freewaregenius recommends using ReadyForZero to pay off and manage debt.
- Yahoo! Finance reports SecondMarket's Barry Silbert contributed investments to SponsorHub's $750,000 round.
- PayNearMe enables BHPH auto dealers to expand collection of cash payments.
- Kabbage secures $12 million in financing.
- ThreatMetrix wins Red Herring Global 100.
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.
Right now, over three dozen leading fintech companies, both hot young startups and established players, are gearing up to demo their latest innovations at the second annual FinovateEurope next February 7th in London. To whet your appetite, we asked each handpicked company to provide a sneak peek of what it will be demoing on stage. Below is the first installment. We'll have another installment next week.
Don't miss your chance to see fast-paced demos of the newest ideas from each company and meet the execs responsible for the cutting-edge of innovation in financial and banking technology. Plus get your FinovateEurope ticket before December 23rd and you'll lock in the early-bird price!
____________________________________________
 AcceptEmail will launch a revolutionary way of billing and collecting. The inventor of billing and payment via email will introduce AcceptSMS, the world's first Short Invoice Service.
With this technology, AcceptEmail users will be able to send payment requests to a smartphone or PDA via SMS, WhatsApp Messenger or social media in an easy and clever way. Improve your customers' payment behavior by offering multi-channel and customer friendly payment methods.
Innovation type: Communications, mobile and tablet UI, payments
 Find out more about a solution that Raymond James has already adopted to give its investment advisors authenticity on social networks. It also generated a $1 million prospect for another wealth management firm after just 96 tweets.
Actiance will also demonstrate how you can measure and analyse your network growth to accurately plot your social graph.
Innovation type: Communications, marketing, security
 Brokertainment combines the fun and thrill of stock market trading with a reduced risk due to extremely low minimum investments (1 euro) and ultra-short term durations of derivatives (around 5 minutes).
Brokertainment will present a new product called STOCKBATTLE.
Innovation type: Investing and asset management
 Business Centric Services Group (BCSG) will present an exciting new credit management tool to the SME market, which will break down the traditional barriers of cost, complexity and awareness.
BCSG has identified a customer need for this product through research, which highlighted that over half of small businesses never run credit checks on new customers, and just under half do not monitor their existing customers and suppliers.
Its innovative tool allows complex information to be delivered in a simple and usable format, ensuring the best possible end-user experience.
Innovation type: Banking products, online UI, small business
 Almost all banking today is being done in digital space. Why not communicate with computers in a natural way, as we do in the real world?
Imagine a financial application that recognizes your face, congratulates you, analyzes your voice to identify you, and navigates you in online banking. You choose what is most convenient for you at that time: using your voice, gestures, keyboard, or a mix of all the approaches. You are smiling.
Motion and speech belong to the game world or laboratory geeks-- not to online banking solutions that refer to a serious, unshakable, respectable realm. ETRONIKA wants to challenge this point of view by introducing a new UX approach to financial online services.
Innovation type: Banking, identity, online UI
 InvestorBee puts data at consumers' fingertips so they can make smart, confident investments.
- It's fact, not opinion. Users can tap into the database to learn from the experiences of over a million UK investors.
- It's an investment health check. Users can compare themselves to their peers to set realistic saving targets and investment goals.
- It's simple investing without guesswork. In a few easy steps, users can choose an objective risk-based strategy that's right for them.
InvestorBee users extract wisdom from the crowd to make better, simpler investment decisions.
Innovation type: Investing and asset management, PFM
 Fiserv will demonstrate its next generation mobile P2P, small business and eCommerce merchant payments. As an international provider of digital banking and payment solutions, Fiserv delivers market-proven capabilities with innovations in both the mobile and online channels.
Innovation type: Mobile and tablet UI, online UI, payments
 IND Group gamified its white-label Internet Banking and Personal Finance Manager. It added these methods to its new Banking-Front Office. The solution is based on the fact that customers love to do almost anything if they are rewarded for it.
With the two-level point system, banks can give points for things like function use, transactions, and product or service purchases. Customers can collect points and badges for dedicated actions. The system is closely connected with Facebook, where users can post their results and badges. With its strong visualization features and real rewards, the gamified IND Internet Banking and Personal Finance Manager creates a compelling, engaging user experience.
Innovation type: Online UI, PFM, rewards
 Luup will launch a mobile payment service for corporations and governments that is set to bring them cost-savings, efficiency and productivity gains. The service solves one of the biggest daily challenges that organisations face worldwide.
Through an interactive live demo from various mobile devices, Luup will showcase how the new service is a fast, convenient and secure way to optimise processes. Attendees will experience how Luup solutions are unique in being universally deployable, bank-grade, live and proven-- as well as scalable and easily managed.
Innovation type: Mobile and tablet UI, payments
 miiCard, My Internet Identity, is the first service that allows a consumer to prove their identity to the AML/KYC standard purely online.
Through miiCard, a vendor can identify an individual to a level of assurance that supports real-time online sales of regulated financial products, and replaces the need for a 'wet signature' reducing operational costs and increasing conversions.
miiCard creates trust, protects consumers and fights against fraud. It helps realize the full potential of the digital economy by enabling higher value online business.
Innovation type: Identity, payments, sales and customer service
 Sandstone will be showcasing its next generation mobile banking app that contains sophisticated money management/ OFM tools, the latest anti-fraud and security measures, and user experience capabilities that enable financial institutions to better engage with their customers.
Using the latest HTML5 technology, the app can be developed once and then delivered seamlessly across all smart phone app stores to run on any smart phone mobile device. The registration process for the app locks the user to the device while the page-fingerprinting technology ensures that fraudulent users will not be able to connect to the secure server.
Innovation type: Banking, PFM, security
 Service2Media and Rabobank will introduce mobile payments via a banking app for all webshops. Customers of Rabobank that have installed the Rabobank Mobile Banking app can now pay for their mobile purchases as easily as their online purchases by using a mobile version of the online payment method IDEAL.
The new mobile IDEAL payment is facilitated by starting the Rabobank Banking app on an iPhone once a payment request is issued on the merchant's mobile site. The user then authorizes the transaction in the app with his account number and access code before being redirected to the merchant's mobile site. Mobile banking is now possible without an e-reader as long as the balancing account is known.
Innovation type: Banking, mobile and tablet UI, payments
 Securing M-Banking
The advancement of technology is making our lives easier. Mobile banking, or m-banking, is here and with 800,000,000 smartphones already in circulation globally, it is going to grow. But how do we make m-banking safe and practical to use? You can't hold your smartphone in one hand and your bank secure key in the other when walking down the street - that's not "making our lives easier".
A much simpler solution is using out-of-band, real-time, multi-factor authentication and transaction verification. ValidSoft will demonstrate how its products can do just that.
Innovation type: Identity, payments, security
 One of the primary tools direct sales agents need is a tablet variant of the unified desktop. Wipro has developed a customer acquisition framework on a tablet-based device, which is a step in this direction.
CAMS on Tablet leverages mobile, analytics and intelligent processes for on-the-go personalized offers and application capture. The solution is also relevant in next generation bank branches where a differentiated environment is created for HNI customers.
Innovation type: Mobile and tablet UI, PFM, sales
 On Friday, France-based Mootwin announced it recently raised 4 million euro ($5.5 million) in its second round of funding. Investors include France-based Naxicap Partners Création and Seventure Partners. The smartphone app provider plans to use the funding to further its development locally and internationally. To learn more about Mootwin, watch its FinovateFall 2011 demo.
- The Wall Street Journal recommends Braintree & PayPal as online payment platforms.
- Dwolla reports there are more merchants using Dwolla in San Francisco and New York City than there were in Des Moines 1 year ago.
- Accounting web recommends using Xero to automate business accounting.
- Mootwin receives 4 million euro in series B funding round.
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.
 Financial communications company StockTwits yesterday announced a new product called Direct that will enable public companies to post new on the Yahoo! Finance Quote page. "StockTwits Direct allows subscribing companies to publish their most important updates directly to a module on the main "Quote Summary" page on Yahoo! Finance for their ticker symbol. Companies can easily modify or change their updates at any time and access usage metrics through a simple web dashboard within their StockTwits account."
HP, Intel, Royal Dutch Shell and Yahoo are all currently using the product in order to communicate updates to the public. To learn more about StockTwits, watch its FinovateEurope 2011 demo.
- San Francisco Chronicle discusses the 700 investors chasing after Dwolla.
- Fiserv signs Sunrise Community banks for prepaid services.
- Arizona Business Gazette lists using MyCyberTwin as 1 of 6 effective tools to boost your sales in 2012.
- Computerworld profiles Linkable Networks.
- TechCrunch reports founder of Mint.com spends his time inventing a vehicle transit system.
- StockTwits enables public companies to publish news on the Yahoo! Finance site.
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.
 One week after mFoundry formed a partnership with MasterCard, they announced an $18 million investment from MasterCard, along with Intel, FIS, and Motorola Mobility:
"The capital will be used to fund the development of new payments-related mobile products and services targeted at financial institutions and mobile network operators. mFoundry will also use the proceeds to support the expansion of their existing and profitable mobile banking business."
mFoundry will continue to work closely with FIS on mobile banking opportunities, but will also work with MasterCard, Intel, and Motorola Mobility on payments innovations.
 Online invoicing startup Bill.com announced a new round of $15.5 million in Series D funding today, boosting the total raised to $40 million: "The financing round included new investor Financial Partners Fund (FPF), a unit of Citi Capital Advisors, and existing Bill.com investors including DCM, Emergence Capital Partners, August Capital, Jafco Ventures and Total Technology Ventures. Bill.com will use the additional capital to scale operations in support of continued customer growth and for product development and marketing purposes."
The company also shared some growth figures for 2011: - Grew over 300%
- Added tens of thousands of vendors and customers to its network
- Currently holds over $3 billion under management
- The Ecologist recommends Zopa as a source for a P2P loan.
- Western Union signs agreement with InComm to expand its GoCash service.
- TechCrunch explores enloop's business plan creation platform.
- Good Financial Cents reviews Prosper.
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 morning, Expensify CEO David Barrett published some interesting statistics about the startup's growth. - Processing over $2 million in expense reports daily
- Used by more than 90,000 organizations spanning 700,000 users, up 8% from 650,000 a month ago
Accomplishments in November: - The site streamlined for individuals and contractors
- Direct deposit reimbursement expanded to all 50 states in the U.S.
- New central-admin and advanced accounting features added
- New Yammer integration launched
- Won the "Judge's Choice" award at Under the Radar 2011
 Identify protection company ID Theft 911 announced today that Safeonline LLP has chosen to provide data breach services to its customers: "In response to the growing need for businesses to protect themselves from data breaches, Safeonline LLP is providing Identity Theft 911 expertise to cyber liability policyholders to help minimize the chance of a breach and better safeguard personally identifiable information."
In addition to this coverage, the package will also include online tools and resources. To learn more about Identity Theft 911, watch its Finovate 2007 demo.
- Credit Union National Association reports ProfitStars' service helps FIs support energy markets.
- Lifehacker recommends visiting Credit Karma or Credit Sesame to view your credit score for free.
- Computerworld takes you behind-the-scenes with MyCyberTwin's AI technology.
- Kabbage joins the X.commerce Global Ecosystem.
- ID Theft 911 chosen to offer data breach services to Safeonline LLP.
- MyBankTracker explores how FeeFighters cuts payment processing fees for merchants.
- Expensify lists growth figures.
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.
 In an effort to provide the best value in online trading, Zecco unveiled its new Trading Center today. The upgrade includes: - Extended hours trading
- Conditional orders
- Pre-configured options trading strategy
The user interface displays charts, balances, quotes in real time, and a trade ticket to help users act on investment decisions in a timely manner. It is also preparing  for the release of iPhone and Android apps. To learn more about Zecco, watch its FinovateStartup 2008 demo.
 Yesterday CU Members Mortgage and its partners highlighted the benefits from using Mortgagebot's PowerSite application technology: "Its easy-to-use interface, coupled with error-free automation, helps credit unions increase value exponentially despite the industry's many variables."
It also announced significant results. In the two months since the launch, CU Members Mortgage and its partners have seen faster loan processing along with a conversion rate of 65%. To see PowerSite in action, watch its FinovateFall 2010 demo.
 Yesterday, debt assistant SavvyMoney.com (formerly DebtGoal.com) announced the launch of its rennovated website: "The new site has been launched to assist those dealing with this financial burden and the mounting stresses associated with debt. SavvyMoney.com offers unique, "do-it-yourself" products and services that help consumers organize their debt and set realistic pay-off goals, as well as providing advice on which accounts to pay off first to make the greatest impact."
It also announced that Jean Chatzky has joined the SavvyMoney team to serve as its Director of Education. To learn more about SavvyMoney.com, watch its FinovateSpring 2010 demo.
- P2P Lending News reports Prosper & Lending Club issued $37.4 mil in loans in November.
- Trade Streaming interviews Rob Foregger, co-founder of Personal Capital, on the future of online investing.
- mFoundry receives $18 mil in growth capital from MasterCard, Intel, FIS, and Motorola Mobility.
- Bank Systems & Technology looks at how USAA uses Yodlee to aggregate accounts and power its PFM.
- SavvyMoney (Formerly DebtGoal) launches new site, adds Jean Chatzky to team.
- Steve Shivers, doxo CEO, speaks up about the potential cuts to the US Postal Service.
- Credit Unions see positive results from Mortgagebot PowerSite technology.
- Q2ebanking ranks on The Austin American-Statesman's List of Top Workplaces.
- Zecco unveils its new Trading Center.
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.
 GoalMine, an investment service targeting the mass market, announced its holiday gift card trade-in service that will allow consumers to fund investment accounts using gift cards with leftover balances in excess of $25. Here's how it works: "After entering gift card numbers and values, customers will be prompted to create a free account, after which they can choose to apply their gift card values to one of GoalMine's mutual funds or an FDIC-insured savings account. Accounts are goal-based, so customers can easily allocate funds toward goals like buying a home, preparing for a new baby, or saving for a rainy day."
The service will begin December 19 and last for a limited time after the holidays. To learn more about GoalMine, watch its FinovateSpring 2010 demo.
NorthCountry FCU and A+ FCU members now have free access to Credit Karma's credit management tools on their online banking website: "Through a member-centric approach, Credit Karma's service provides a monthly credit score and a suite of personalized credit management tools. The tools enable members to access their credit scores, easily digest information on credit scoring, empower informed financial decisions, and put their credit to work to get the best products for their credit profile."
Credit Karma provides the same white-label service to over a dozen credit unions and also makes the tools available to the public at creditkarma.com. To learn more about Credit Karma, watch its FinovateStartup 2009 demo.
 Social lending platform Weemba announced today that its network of lenders has expanded: "New Weemba lenders include Crossroads Financial, Mercantile Capital Corporation and MedChoice Financial/Perform Finance, bringing the total number of lenders in the Weemba community to more than 30."
In the four months since its launch, Weemba has seen hundreds of loan applications that range from $1,000 to 1 million. To learn more about Weemba, watch its FinovateFall 2011 demo.
- Fox Business News recommends banking with Simple as a way to counter bank fees.
- The Sacramento Bee reports SafetyPay expands to U.S. marketplace in the airline & travel payments industries.
- GeekWire reports Lighter Capital awards undisclosed amount of cash to HireAHelper.
- Barganeering looks at what sets Personal Capital apart from Mint.com.
- Business Insider explores the differences between SecondMarket and SharesPost.
- Sun Life partners with Kony on claims mobile app.
- Weemba adds 3 financial institutions to its network of lenders.
- Two credit unions deploy Credit Karma's tools on their online banking platforms.
- GoalMine to launch holiday gift card trade-in service.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
 FinovateEurope 2012 is just over two months away and it is shaping up to be a great conference. The quality and number of applications we received from companies seeking to debut their latest fintech innovations at the event was truly impressive. That quality meant hard choices for us during the selection process but it also means an amazing showcase of new ideas in European financial technology for the audience. On February 7th next year, the following companies will take the stage
in London to demo their latest and greatest innovations (we'll also be
revealing a couple of "stealth" additions to this list closer to the
event):
- AcceptEmail
- Actiance
- Adobe
- Backbase
- BCSG
- Cardlytics
- CREALOGIX
- CurrencyFair
- DCisions
- eToro
- ETRONIKA
- Fenergo
|
- Figlo
- Fiserv
- Holvi Payment Services
- iBrokr AG
- IND Group
- Ixaris Systems
- Kabbage
- Luup
- Meniga
- miiCard
- Mootwin
|
- Nutmeg
- PayPal
- Ping Identity
- Quid
- Sandstone Technology
- Serverside Group
- Service2Media
- Striata
- Tradeshift
- ValidSoft
- Wipro Technologies
|
If you'd lock in your spot to watch the future of financial and banking technology debut in London next February, please register soon. Tickets for the event are selling quickly -- well ahead of last year's pace when we sold out weeks ahead of the conference. In addition, register by Friday December 2nd and you'll get the affordable very early-bird price on your ticket.
FinovateEurope 2012 is sponsored by: BlueRock Consulting & The Bancorp Bank FinovateEurope 2012 is partners with: BankerStuff, BankInnovation, Deutsch Startups, The Financial Services Club, The Financial Services Innovation Centre, and PYMNTS.com.
 Leadfusion announced yesterday that Boeing Employees Credit Union is the latest FI to implement its Guided Selling platform that helps empower customers when selecting product offerings. Since launching Guided Selling, BECU reports positive results: "We have seen an astonishing 45% engagement with the dialogue and CTR (click-through-rate) to the product comparison/selection tools, and 16% of those applying for a product directly from the Guided Selling tool."
To learn more about Leadfusion, watch its FinovateFall 2010 demo.
Earlier this week, Forbes published a list of America's 100 most promising private companies. The rankings are based on annual revenue, number of employees, company strengths, partnerships, and a number of other qualifications. Three Finovate alumni made it onto the list, all the top 20:  Category: Mobile payments platform Founded: 2009 Funding: $38 million Headquarters: San Francisco
- MasterCard and mFoundry executives discuss partnership.
- The Silicon Prairie names Dwolla number 1 startup in DesMoines, looks for a number 2 startup following the "Dwolla-trajectory."
- Simple is slowly sending out a few dozen invites at a time.
- Prosper announces its support of UK P2P Finance Association.
- The Social Lending Network shows off Lending Club's Trading Platform.
- Bloomberg Businessweek lists Expensify as an app that lets you work like an executive.
- peerTransfer partners with Nelnet Business Solutions, provider of campus commerce services.
- Boku, SecondMarket, & Lending Club listed in Forbes Top 20 Private Companies.
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.
Mobile payment startup Dwolla announced today that it will no longer charge a 25-cent fee for transactions under $10. Dwolla assures its clients that there will be no changes to the product or service and that merchants will receive the same benefits. On a separate note, Dwolla is celebrating its one-year anniversary of its national rollout today. To learn more about Dwolla, watch its FinovateSpring 2011 demo.
 PeerTransfer, a startup that facilitates international tuition payments, announced a partnership with Tuition Management Systems, an organization that helps students manage college costs. "Through the partnership, families will be given additional flexibility and be able to make tuition and other education related payments, typically in the currency of their home country."
The peerTransfer platform will be available to Tuition Management Systems's network of over 700 schools across the nation. Students of these schools will benefit from lower fees and favorable exchange rates, saving up to $1,500 on a $40,000 tuition payment To learn more about peerTransfer, watch its FinovateSpring 2011 demo.
Mobile banking solutions provider mFoundry announced a partnership with MasterCard yesterday. The new alliance will enable mFoundry to provide its network of over 500 financial institutions with MasterCard's NFC-based PayPass technology.  To learn more about mFoundry and MasterCard, watch mFoundry's FinovateFall 2010 demo and MasterCard's FinovateFall 2011 demo.
 Compliance management company, Continuity Control, recently announced that it doubled revenue in the third quarter of 2011: "As it did in the first two quarters of 2011, the company doubled its revenue again in the third quarter with growth in markets across the country."
Along with this pattern of growth, it also announced a partnership with BancVue, a company that provides marketing and consulting solutions to community financial institutions.  To learn more about Continuity Control and BancVue, watch Continuity's FinovateSpring 2010 demo and BancVue's Finovate 2009 demo.
- Bank Technology News lists ActivePath, Cardlytics, and PayPal as 3 of the top 10 tech companies to watch.
- mFoundry powers First Hawaiian Bank's m-banking.
- The Houston Chronicle examines how Dwolla helps consumers give money to friends & family without exchanging cash.
- Mixergy interviews Matt Fellowes, CEO of HelloWallet, to discover how it went from 0 to 300K subscribers in 5 months.
- Plastyc receives over $1.2 mil in new funding from undisclosed investor.
- Acculynk forms International Internet PIN Acceptance Consortium with major e-commerce merchants.
- Taulia's billFLO to continue service beyond December 1 shutdown date.
- Continuity Control doubles 3rd quarter revenue, partners with BancVue.
- PeerTransfer partners with Tuition Management Systems.
- MasterCard invests in mFoundry to bring PayPass to mobile phones.
- Dwolla now free for transactions under $10.
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.
|
|
|
 |
Watch Demos
Click above for video archives of all demos.
Twitter
|
Watch Demos
Subscribe RSS
Subscribe Email
Follow Us
Contact Us
Topics
