New Online Banking Report Published: Banking on Facebook

image We just published our latest report, Banking on Facebook, which looks at why you should establish a presence on the social network. And more importantly, what you can do to make the effort pay off.

To some extent, this report was overdue. Facebook has been a major social force for four or five years. However, it wasn’t until recently that brands have taken the platform seriously.

And while soft drinks and social games may dominate Facebook brand pages now, every major brand will be there eventually, financial services included. The opening to our report lays out the opportunity:

If there was a neighborhood that 90% of your customers visited frequently, many every day, how much would you pay to have a presence there? If you were small, maybe $10,000; if you were Chase, maybe hundreds of millions.

But what if it cost almost nothing to set up shop there? Basically, that’s Facebook: a place most of your customers frequent and where brands can establish a page for exactly zero dollars.

clip_image002In the 56-page report we cover:

  • 12 main reasons you should invest in a Facebook brand page
  • 12 primary components of a Facebook brand page (see screenshot below)
  • 42 advanced tactics for your Facebook page
  • 47 financial institutions worldwide with more than 100,000 Facebook fans/likes
  • Consumer interest in viewing bank account info, spending info, and credit info within their Facebook page
  • The importance of Facebook’s new "Action" buttons for banks (inset)
  • 23 Facebook terms you need to understand (e.g. social plugins)

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About the report
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Banking on Facebook (link)
It’s time to set up shop in the dominant social network

Author: Jim Bruene, Editor & Founder

Published: 28 Feb 2012

Length: 56 pages, 10 tables, 12,000 words

Cost: No extra charge to OBR subscribers, US$495 for others here

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Sample screenshot
: We use Lending Club to illustrate the basic components of a Facebook brand page

Sample Facebook brand page from Lending Club

Handpoint Headstart Wins 2012 Channel Awards

Thumbnail image for HandpointLogo.jpgMerchant payment company Handpoint announced today that the Headstart Mobile Chip & PIN solution won the 2012 Channel Awards at the Merchant Payment Ecosystem conference in Berlin.

The jury viewed Handpoint’s technology as the European response to Square and selected it for the innovative use of mobile technology with bluetooth communication. 
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To learn more about Handpoint, watch its FinovateEurope 2011 demo, coming soon to the Finovate website.

Weemba Celebrates 6 Months of Operation, Unveils Operating Stats

weembaLogo2.jpgWeemba, an online platform that matches borrowers to lenders, reached its first six month mark yesterday. The startup has seen continuous growth, and provides some stats:

Lending platform:
    • 2,000 borrowers
    • 45 lenders
    • 500 loan projects
    • Average loan amount of $75,000
    • Over 3x increase in number of loan projects since October 2011
Loan types:
    • Personal loans: just under 50%
    • Home & mortgage: 21%
    • Small business: 11%
    • Car/motorcycle/RV/ATV: 9%
    • Student loans: 5%
    • Healthcare: 4%
To learn more about Weemba, watch its FinovateFall 2011 demo.

ThreatMetrix Launches Program to Report Malware Capabilities

Thumbnail image for Thumbnail image for ThreatMetrix.jpgCybercrime solutions company ThreatMetrix announced yesterday it launched ThreatMetrix Labs, a program that informs financial institutions, government agencies, and retailers about that latest capabilities of malware:

“To generate each report, a team of independent researchers analyze, examine and reverse-engineer the most sophisticated malicious software running on computer systems worldwide.”

The public reports are available for free download. The first report was released this month and covers man-in-the-browser threats.
To learn more about ThreatMetrix, watch its FinovateStartup09 demo.

Finovate Alumni News– February 29, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBank Technology News reports HomeDepot now accepts PayPal payments at all 2,000 retail stores.
  • Des Moines Register interviews Jordan Lampe, Dwolla’s director of communications.
  • BancVue completes sale of $120 million credit card portfolio to First Arkansas Bank & Trust.
  • ThreatMetrix launches program to report malware capabilities.
  • Accounting Today selects Bill.com Receivables for its Top New Products of 2012.
  • Diversinet names Dr. Hon Pak as CEO.
  • Sallie Mae & peerTransfer partner to facilitate international tuition payments.
  • Reuters looks at FINRA and Brightscope to give more information on financial advisors.
  • Omaha.com looks at how Dwolla survived the downturn.
  • Weemba celebrates 6 months of operation, unveils operating stats.
  • Handpoint Headstart wins 2012 Channel Awards.
This post will be updated throughout the day as news and developments emerge. You
can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateSpring 2012 — Get your ticket before Wednesday to lock in your spot and save $200!

FS2012_low.png

I love this time of year. The days are getting longer. Spring is just around the corner. And, at FinovateHQ, we’ve begun the fascinating process of choosing the new fintech innovations that we will showcase at FinovateSpring (May 8th and 9th in San Francisco). This year’s selection process is particularly challenging however as the volume and quality of new ideas is unprecedentedly high.

While the high-quality pool of applicants makes our job harder, it is great news for the 2012 FinovateSpring audience who will get to witness the best new fintech innovations debut via our signature format that blends fast-paced demos with high-quality networking.

If you’re interested in where trends like mobile, NFC, biometrics, offers, big data, social, tablets, p2p, apps, the cloud and more will take the financial world in 2012 then I hope you’ll consider joining us in San Francisco in early May.

Tickets for the event are selling quickly and we’re on pace to beat last year’s record attendance of 850. The already long list of registered attendees includes executives from leading organizations like: American Express, Sallie Mae, Wells Fargo, MasterCard, Mint.com, Charles Schwab, Citi, CNNMoney, Aite Group, H&R Block, BBVA, Capital One, Battery Ventures, Celent Research, SunTrust, PayPal, Wired Magazine, Visa, FIS, E*Trade, BNY Mellon and USAA (to name just a few).

Please get your ticket before this Wednesday to lock in your spot at the very early-bird discount of $200 off. If you have any questions about the event, please don’t hesitate to reach out to us at info@finovate.com. We hope to see you in May!

FinovateSpring 2012 is sponsored by: The Bancorp Inc., the law firm of Chambliss Bahner & Stophel, Intuit, & TxVia

FinovateSpring 2012 is partners with: BankInnovation, BankerStuff, Celent, Filene, Finance on Windows & PYMNTS.com

FinovateSpring 2012 — Get your ticket before Wednesday to lock in your spot and save $200!

FS2012_low.png

I love this time of year. The days are getting longer. Spring is just around the corner. And, at FinovateHQ, we’ve begun the fascinating process of choosing the new fintech innovations that we will showcase at FinovateSpring (May 8th and 9th in San Francisco). This year’s selection process is particularly challenging however as the volume and quality of new ideas is unprecedentedly high.

While the high-quality pool of applicants makes our job harder, it is great news for the 2012 FinovateSpring audience who will get to witness the best new fintech innovations debut via our signature format that blends fast-paced demos with high-quality networking.

If you’re interested in where trends like mobile, NFC, biometrics, offers, big data, social, tablets, p2p, apps, the cloud and more will take the financial world in 2012 then I hope you’ll consider joining us in San Francisco in early May.

Tickets for the event are selling quickly and we’re on pace to beat last year’s record attendance of 850. The already long list of registered attendees includes executives from leading organizations like: American Express, Sallie Mae, Wells Fargo, MasterCard, Mint.com, Charles Schwab, Citi, CNNMoney, Aite Group, H&R Block, BBVA, Capital One, Battery Ventures, Celent Research, SunTrust, PayPal, Wired Magazine, Visa, FIS, E*Trade, BNY Mellon and USAA (to name just a few).

Please get your ticket before this Wednesday to lock in your spot at the very early-bird discount of $200 off. If you have any questions about the event, please don’t hesitate to reach out to us at info@finovate.com. We hope to see you in May!

FinovateSpring 2012 is sponsored by: The Bancorp Inc., the law firm of Chambliss Bahner & Stophel, Intuit, & TxVia

FinovateSpring 2012 is partners with: BankInnovation, BankerStuff, Celent, Filene, Finance on Windows & PYMNTS.com

BOKU Works with MasterCard to Launch Mobile Payment Platform

Thumbnail image for BokuLogo8.25.jpgLast week, online mobile payments company BOKU announced that it is working with MasterCard to launch BOKU Accounts, a mobile payments platform:

“The BOKU Accounts platform allows MNOs to issue their subscribers an MNO-branded mobile payment account accessible via both mobile device and the Web. The account allows subscribers to make payments online, in-app, and in-store. In-store purchases via BOKU accounts will be enabled anywhere MasterCard is accepted.”
StickerandCard.jpg

Offers.jpg

Through BOKU Accounts, users will be able to access deals and rewards (pictured right), and will be provided an enhanced view of their spending.
To learn more about BOKU, watch its FinovateEurope 2011 demo.

Finovate Alumni News– February 27, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSimpleTuition wins the BostInno Insider Award for best higher education blog in Boston.
  • TechCrunch reports TradeShift launches instant payment solution.
  • Boston Business Journal covers Cartera Commerce card-linked offers.
  • Cartera Commerce Card-Linked advertising network generates over $1 bil in merchant sales in 2011, more than previous 4 years combined.
  • Mint.com launches new blog about style.
  • Tech.li looks at how Expensify takes control of expense reports with less “suck.”
  • InvestorBee launches Compare Investments tool.
  • BOKU works with MasterCard to launch mobile payment 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.

On Deck Launches On Deck Express, Loans Up to $25,000 in as Fast as 24 Hours

OnDeckLogo.jpg

Earlier this week, On Deck Capital launched a new way for small businesses to quickly access loans up to $25,000.

Here’s how it works:

“Business owners set up their online profile at www.ondeckcapital.com and immediately get free insights into their credit profile and cash position. The On Deck Express application and approval process is completely automated, and once approved the business owner is empowered to select from available term and loan options that best meet their business needs. From there, On Deck’s funding process enables a business owner who is approved Monday morning to have their funds deposited in their account by Tuesday.”

For small businesses that need more funding, On Deck provides loans up to  $150,000 in up to seven days.