Quicken to Leverage PayNearMe’s Prism API

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Cash billpay service PayNearMe announced last week its Prism API is powering bill presentment for Quicken. By leveraging the Prism API, Quicken can provide its customers with real time bill and account visibility.

The Prism API also offers Quicken clients same-day bill payment capability for utilities, telecom providers, cable billers, and more. The integration has helped Quicken bring “thousands more” billers to its platform.

Screen Shot 2017-01-23 at 2.29.05 PMPrism’s bill presentment

Daniel A. Chen, Quicken’s head of business development said Quicken selected Prism because it is “extremely developer friendly” and “the documentation is among the best I’ve seen.” Chen continued,

“Prism API enables us to better support our customers by providing them with real-time insight into future cash-flow needs and upcoming bill amounts. It also enables us to monitor changes in a biller’s service that may affect our customers before they are noticed. The automated monitoring means we are able to troubleshoot more quickly than the manual process we were using before.

PayNearMe began offering access to the Prism API after it acquired Prism Money in May of 2016. Visa was the first client to leverage the Prism API. The company helps enterprise customers offer bill presentment capabilities to their consumer-reloadable prepaid card clients.

Founded in 2009, PayNearMe enables consumers to pay bills using cash at 17,000+ 7-Eleven, Ace Cash Express, and Family Dollar retail stores across the U.S. by scanning a barcode on their smartphone. Most recently, the company partnered with Comcast to power cash payments for XFINITY clients. PayNearMe presented at FinovateSpring 2013 and at FinDEVr Silicon Valley 2014. The company has raised more than $71 million in funding. Danny Shader is CEO.

Quicken debuted Quicken Online at FinovateFall 2008 in New York. The company, once owned by Intuit, was acquired by H.I.G. Capital in April of 2016 for an undisclosed amount. Eric Dunn is Quicken CEO.

Finovate Alumni News

On Finovate.com

  • CurrencyCloud Taps Former Misys Executive Ed Addario as New CTO.
  • Quicken to Leverage PayNearMe’s Prism API.

Around the web

  • Gillian Davies joins Boku as new CFO.
  • Paducah Bank to launch Insuritas insurance agency platform to drive fee income.
  • The Banker interviews Avoka European GM, Richard Austen.
  • Investopedia profiles Chicago-based robo advisor, M1 Finance.
  • Forrester features WorkFusion in list of important AI technologies in 2017.
  • HelloWallet unveils version 5.0 with improved app navigation and streamlined dashboard.

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.

Card-Linked Offers Consolidates: Edo Interactive Acquired by Augeo

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From 2011 to 2013, card-linked offers (CLO) was all the rage– you could say it was the AI of that era. The trend peaked in 2012, when it seemed every other fintech company added some type of card-linked offers. As is typical with explosive trends such as these, we’re now seeing industry consolidation.

This week that consolidation comes in the form of successful CLO player Edo Interactive being acquired by Auego. Minnesota-based Auego will add Edo’s CLO technology to its loyalty and engagement offerings, which will provide Edo access to a larger client base. The terms of the deal were not disclosed.

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Since launching in 2007 Edo has partnered with hundreds of national and local merchants, helping each tailor a personalized digital marketing campaign to drive sales. At FinovateSpring 2012, the Nashville-based company (pictured right) launched its GeoCommerce feature that enabled retailers to push offers to users’ phones based on their geolocation.

Ed Braswell, Edo CEO said, “…the combination of our platforms helps solve the challenges many others face with content and delivers the strategy, data insight and analytics required for programs to be sustainable and successful. Heading into 2017, we intend to deliver the next generation of card-linked loyalty with the most premier partners in the space.”

This is Auego’s seventh acquisition since launching in 1998. The company will preserve the Edo brand along with its operations and headquarters location.

Top Business-to-Business Wealth Tech Players

wealthtech4

If you’ve been following our series on wealth tech, you’ve seen our analysis of the industry as a whole, a review of the top trends, and an examination of B2C wealth tech players.

Our wealth tech coverage continues this week with a review of business-to-business (B2B) players in the wealth tech space. These are companies that cater directly to banks, advisors, or brokerages, instead of offering products or services directly to consumers. B2B wealth tech is a large category, so I’ve sub-divided it into four digestible groups and listed my top picks for each category. Since category sizes vary, the number of selections also varies.

Alternative investment services
These are platforms that help advisors connect clients with unconventional investment types, such as private equity, hedge funds, futures, real estate, etc.

Screen Shot 2017-01-19 at 11.44.57 AMEquityZen’s EZ Institutional lets advisors give clients access to a diverse asset class

Technology for advisors and brokerages
These are tools available via API, SDK, or web interface to help advisors compete with robo advisors by allowing them to invest with less bias, increase client communication, scale operations, find new clients, and more.

Screen Shot 2017-01-19 at 11.40.41 AMTrizic offers advisors their own digital tools to compete with robo advisors

Non-U.S. B2B investment and advisor technology
Similar to the above category, these companies offer tools for advisors outside of the U.S.

Screen Shot 2017-01-19 at 11.30.52 AMmeetInvest helps advisors invest like world-renowned market experts

News and Information Companies
These are online platforms, APIs, or SaaS offerings that provide advisors market information, show them trending news, or connect businesses with market data to power their own products.

Screen-Shot-2016-10-31-at-3.22.22-PMForwardLane’s dashboard acts like a private research analyst for advisors advisors, helping them stay current on new trends and funds

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: Helping Banks Turn Data into Insights with Liferay DXP

Around the web

  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • TipRanks unveils new feature for its Smart Portfolio platform to follow the elite investors and compare their portfolio to the top 10% of TipRanks portfolios.
  • EVO Payments acquires Sterling Payment Technologies.
  • BBVA Compass reups payments agreement with TSYS.

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.

ThreatMetrix Shows Off its Strongest Year Yet

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Digital identity authentication company ThreatMetrix released key growth metrics today from 2016. The San Jose-based company views last year as the “strongest year in company history.”

Here are the 2016 highlights:

  • Prevented more than 500 million attacks
  • Protected 20 billion transactions
  • Safeguarded 4,500 customers
  • Helped prevent $15 billion in fraud losses
  • Analyzed transactions from 4.5 billion devices (one third of which were on mobile)
  • Protected 1.4 billion online accounts
  • Prevented 1 billion bot attacks and 500 million fraud attacks

ThreatMetrix found particular success with financial institution clients. More than half, a total of 55%, of its new customers in 2016 were financial institutions. The company is now working with top banks across Canada, the U.S., and the U.K. Additionally, ThreatMetrix grew into more verticals, including government, healthcare, and insurance.

The company attributes its 2016 success to the increased depth and breadth of its solutions. For example, at FinovateSpring last year ThreatMetrix debuted Digital Identity Graph, a network that gathers information on billions of transactions collected among tens of thousands of websites to create a user’s digital identity by analyzing connections between the user, their locations, behaviors, and devices. The company also launched a Decision Management Portal, an Integration Hub, and a new mobile SDK last year.

ThreatMetrix, which was founded in 2006, hopes to continue its strong growth into this year. The company already has plans to open a new data center in Reykjanesbaer, Iceland. The data center will be powered by geothermal and hydroelectric sources.

FinDEVr APIntelligence

FDNY17_EventLogo_v1(wdate)Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register before Friday for New York to save!

On FinDEVr.com

  • Join FinDEVr New York’s Impressive Audience — Save On Tickets Through Friday!

The latest from FinDEVr Silicon Valley presenters

  • PwC and Oracle team up to help FIs meet new accounting standards
  • Technology from Modo Payments supports new loyalty point POS payment partnership between FIS and Verifone.

Alumni updates

  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.
  • Finextra: Blockchain launches Digital Asset Research Lab.
  • OnDeck and payment solutions provider WEX team up to provide small business financing.
  • Token partners with VirtusaPolaris, information technology consulting and outsourcing company.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinovateEurope Sneak Peek: Jumio

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FE2017-V2-wdateA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

Jumio’s Netverify offers the ability to accurately capture and verify utility bills and bank statements for proof of address purposes, as intended by the EU AML directives.

Features

  • Mobile or web data extraction of utility bills and bank statements
  • Meets European KYC requirements
  • Secure and easy way to establish proof of residence

Why it’s great
Jumio’s Netverify trusted identity solution now includes Document Verification. Scan utility bills, or other proof of residence, along with bank statements to assure KYC compliance.

PresentersScreen Shot 2017-01-17 at 1.54.49 PM

Philipp Pointner, VP Product
Pointner serves as Jumio’s VP product and facilitates Jumio’s product strategy. With his team of product managers and designers, he turns visions into products.
LinkedIn

John McIntosh, Senior Sales EngineerScreen Shot 2017-01-17 at 1.54.58 PM
McIntosh is the senior sales engineer for Jumio. He has a 15-year history working in fraud, risk, and finance.
LinkedIn

FinovateEurope Sneak Peek: Swaper

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FE2017-V2-wdateA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

Swaper’s P2P marketplace offers an easy way to invest in pre-funded loans just by one click and earn premium returns (12% to 14%) on both web and mobile interfaces.

Features

  • Invest in a predefined portfolio with just one click using its mobile app
  • Have full online control of investments
  • Receive a buyback guarantee for all loans, 12% to 14% interest

Why it’s great
Bank deposits are out-of-date. It offers an accessible and understandable platform for investments for everyone, without the need of special knowledge and experience in investments.

PresentersScreen Shot 2017-01-17 at 1.26.16 PM

Iveta Brūvele, CEO
Brūvele is the founder of Swaper and its parent company Wandoo Finance Group. She has more than 10 years experience in financial services.
LinkedIn

Elīna Rasmane, COOScreen Shot 2017-01-17 at 1.26.28 PM
Rasmane has an extensive experience working as head of product management and business architect in consumer finance and investments.
LinkedIn

FinovateEurope Sneak Peek: FinTecSystems

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FE2017-V2-wdateA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

FinTecSystems provides financial institutions such as banks with real-time financial data analysis that creates an accurate overview of a consumer’s financial situation and creditworthiness.

Features

  • The loan application process is reduced from weeks to minutes
  • Information is gathered from online banking accounts
  • The system identifies and categorizes the transaction history of the consumer in real-time

Why it’s great
Its powerful solution demonstrates that the digital transformation in the banking sector only works if both banks and fintechs cooperate and benefit from each other.

PresentersScreen Shot 2017-01-17 at 12.59.14 PM

Martin Schmid, Chief Sales Officer
Schmid is former director commercial operations DACH for Klarna/SOFORT. He successfully established distinctive inside sales profit center and processed more than 35,000 merchant acquisitions.
LinkedIn

Maximilian Ebernhardt, Manager Business DevelopmentScreen Shot 2017-01-17 at 12.59.25 PM
After studies of economics, sociology, and linguistics Ebernhardt worked as a headhunter performing executive search for financial services. Ebernhardt is now responsible for business development.
LinkedIn