Finovate is part of the Informa Connect Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Online and mobile billpay innovator doxo has announced a new integration with financial services data and insights network – and fellow Finovate alum – Plaid – that will help consumers avoid overdraft charges when paying bills via doxo’s service. “doxo’s mission is to massively simplify bill payment and reduce anxiety of failed payments and overdraft Read more…
Arxan, an application-protection service for mobile, desktop, and embedded-server applications, announced a company change today. The Maryland-based company has hired Joe Sander (pictured right) as its new CEO. Sander, a veteran of Harmony Information Systems, a Healthcare IT organization, specializes in scaling growth-oriented companies. As such, he has been tasked with accelerating geographic expansion in Read more…
For average investors, understanding asset allocation, fees, and risk is cumbersome; but ignorance can be costly. DRAFT seeks to change that by offering a transparent, read-only view of existing investment funds. Its mobile app crowdsources data from other investors to empower users to make better decisions by better understanding their accounts. Draft facts: Raised $1 Read more…
Out of the eight fintech startups slated to demonstrate their technologies at Yodlee’s Ynext Incubator Demo Day next week, three are Finovate alums. DRAFT, Fidor US, and Roostify will join five other fintech colleagues at the Ynext Demo Day event on 27 May 2015 at the JCC in Palo Alto, California. As part of their Read more…
This post is part of our live coverage of FinovateSpring 2015. DRAFT showcased its mobile investment analysis tool: Draft is a crowdsourced investment analysis tool that changes the way people view, think and act when it comes to their long-term investment strategy. DRAFT connects directly to a user’s various bank and investment accounts to show Read more…
I’ve been wanting to write about overdraft protection for more than five years. It’s a $30 billion market (note 1) with a number of serious issues, but I wasn’t quite sure how it fit our mission of identifying opportunities in online and mobile banking. I finally realized the always-on digital connection to the customer fundamentally Read more…
I’ve been working on a blog post, “overdrafts in the digital age,” for a few days. But it’s ballooning to the point where I may turn it into a full Online Banking Report. Or just publish it in several parts here. Either way, I’m looking for examples of new approaches to overdraft protection. For example, Read more…
Yes, that headline is pure fiction. No one can predict the fallout from the bank-bashing, CFPB-loving, election-year-posturing in 2012. But realistically, overdraft charges are about 100x more important to consumers than debit-card interchange, so it’s an area that will be debated in the months and years to come. While I’m not predicting Durbin-like NSF/OD price Read more…
This has to be the best notification of a price increase I’ve ever seen (see first screenshot). ING Direct (USA) famously does not charge OD/NSF fees on its checking account, Electric Orange. But that’s a bit of a moot point since the bank doesn’t offer paper checks, making it difficult to inadvertently go negative. However, Read more…
So far, I’m underwhelmed with the industry’s online marketing response to the new opt-in debit card OD protection regulations. I expected to see new pricing models transforming small overdrafts into a value-add for debit card users, rather than the onerous penalty they had become over the past few years. On the positive side, the elimination Read more…
In 1988, as a new product manager at a long-since-merged-away bank, one of the first things I did was send a memo to my superiors pointing out that our overdraft fee of $8 was significantly less than our peers. And that we might want to consider raising ours to the industry standard $10. That little Read more…
Three weeks ago I noticed that North Carolina-based Truliant Federal Credit Union had posted a highly visible opt-in overdraft pitch on its login page (see screenshot #5, below). I checked back today and found that the CU is still running a login page ad, albeit smaller (ss #2), and has also taken the message to its Read more…