Author: Julie Muhn (@julieschicktanz)

What Will Mint.com Look Like Inside a Branded Online Banking Environment?

By Julie Muhn (@julieschicktanz) Posted on
Categories: Mint.com

MintLogo.jpg

Yesterday, Netbanker provided insight from a recent briefing with Intuit about Mint.com’s new co-branded offering for FIs.

Here are some quick highlights from the extensive coverage:

  • Of Intuit’s 1,100 online banking clients, 500 use Intuit’s existing PFM, FinanceWorks
  • The new co-branded environment provides another monetization model for Intuit’s Mint unit, who’s current business model relies on third-party ads and offers
  • A typical bank has 10% of its customer base registered with Mint (though the active user base is much smaller)
  • Current Mint users will be able to automatically upload their spending history and aggregated accounts to the Mint platform within their online banking experience

The Intuit-provided mockups below show what the co-branded user experience will look like inside an online banking platform. Overall, it will be very similar to the existing Mint.com experience, one of the few differences being that users will not see third-party offers, unless the bank decides to run them.

Mint advice and account aggregation features:

image

Clicking on Mint in the co-branded experience shows the familiar spending analysis features:

image

 Other familiar Mint-branded functionality:


image

A few financial institutions will begin piloting Mint in their online banking platform soon, and will make it widely available near the end of this year.

Mint.com demoed at the first Finovate in 2007 and will return to the Finovate stage this Spring in San Francisco where it will launch its latest development. To be one of the first to see Mint’s new technology, get your ticket here.

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Finovate Alumni News– April 5, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Braintree, Locaid, Pageonce, PayPal, Prosper, Realty Mogul, Wallaby Financial, Yandex, Yodlee
  • Finovate-F-Logo.jpgYodlee launches first phase of new Developer Portal.
  • VentureBeat looks at how PayPal’s new credit alternative for merchants simplifies financing.
  • TechCrunch reviews Braintree’s Venmo Touch. Come see its live demo at FinovateSpring.
  • Yandex announces redesign of homepage that’s 50% faster than the previous one. Check out Yandex and FinovateSpring.
  • Prosper works with the Securities Division of WA’s Dept of Finance to allow Washington residents to lend once again.
  • Life360 deploys Locaid to provide customers with free location lookups via smartphone.
  • Dignity Folklorist reviews Pageonce for iPhone.
  • Business2Community features Wallaby 2.0 for Android.
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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Finovate Alumni News– April 4, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: eToro, FamZoo, Giftly, Jack Henry, Kabbage, Kashoo, Monitise, Nutmeg, ShopKeep POS, Virtual Piggy
  • Finovate-F-Logo.jpgKabbage brings in $75 million in debt financing.
  • Finextra reports: eToro launches social alerts app.
  • PaymentEye features Virtual Piggy. Come see its live demo at FinovateSpring next month. http://bit.ly/Zaunjl
  • Business Solutions speaks with Jason Richelson, ShopKeep POS CEO, who debunks the myth that cloud POS fails when the internet shuts down. 
  • TechCrunch TV interviews Nick Hungerford, Nutmeg CEO on how he aims to disrupt the financial investment world.
  • Verity CU features FamZoo, makes it available to members. Come see FamZoo’s latest development at FinovateSpring.
  • Kashoo releases new version of iPad app.
  • Monitise Executive Vice President Lisa Stanton interviewed by Bdaily.
  • Jack Henry & Associates’s Symitar platform to be deployed by Kitsap Credit Union.
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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Braintree Launches Venmo Payments to Help Small Businesses Pay Contractors, Partners with TaxCloud

By Julie Muhn (@julieschicktanz) Posted on
Categories: Braintree

BraintreeLogo.jpg

Last week, online payments solutions company Braintree announced the beta launch of Venmo Payouts. This new service provides small businesses with an API to help them pay multiple independent contractors. 

The API removes checks from the payment process, enabling small businesses to pay their contractors via email or a phone number. In turn, the contractors receive payment in their account by the following day.

It’s priced at 25 cents per payment, but it lessens small businesses’ accounting headaches and helps contractors get paid more quickly.

Braintree acquired New York-based Venmo for $26 million in August of last year.

Venmo.jpg

TaxCloudLogo.jpeg

Additionally, the Chicago-based company announced a partnership with TaxCloud, a tax management service for online retailers. This partnership will provide Braintree merchants a free way to collect and manage sales tax online.

Braintree demoed at FinovateSpring 2011 and will be on the FinovateSpring stage next month in San Francisco. 

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Kabbage Brings in $75 Million in Debt Financing

By Julie Muhn (@julieschicktanz) Posted on
Categories: Kabbage

KabbageLogo.jpg

Kabbage, a startup that provides working capital to online merchants in the U.S. and U.K., announced today it received $75 million in debt financing.

Victory Park Capital led the round. Existing investor, Thomvest Ventures, also contributed.

KabbageFlow.jpg

According to Crunchbase, from 2010 to 2011 the Atlanta-based startup received almost $17 million in debt financing. 

It has also raised more than $53 million in equity funding, including:

Venture Round, $6.65 million
Closed: January 2011
Investors:
  • BlueRun Ventures
  • David Bonderman
  • Warren Stephens
  • UPS Strategic Enterprise Fund
Series B, $17 million
Closed: August 2011
Investors:
  • Mohr Davidow Ventures
  • BlueRun Ventures
  • Warren Stephens
  • UPS Strategic Enterprise Fund
  • Jim McKelvey
Series C, $30 million
Closed: September 2012
Investors:
  • Thomvest Ventures
  • UPS Strategic Enterprise Fund
  • Mohr Davidow Ventures
  • BlueRun Ventures
  • Warren Stephens
  • David Bonderman
  • SV Angel

According to TechCrunch, Kabbage’s new debt funding is due to the massive growth it has seen recently. It has extended more than 60,000 advances, which have quadrupled in volume year-over-year.

To learn more about Kabbage, watch its FinovateEurope 2013 demo.

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Finovate Alumni News– April 3, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Allied Payment Network, BBC Easy, Cardlytics, Cartera Commerce, edo Interactive, eWise, Fiserv, Flint Mobile, Holvi, IntelliResponse, Kiboo, Mint.com, Monitise, Moven, Narrative Science, OpenCoin, Pageonce, PayPal, ProfitStars, TSYS
  • Finovate-F-Logo.jpgTech Dirt looks at Narrative Science’s role in algorithmically-generated journalism. Come See Narrative Science at FinovateSpring.
  • Bdaily talks with Monitise EVP, Lisa Stanton, about mobile banking.
  • Numerica Credit Union adopts BBC Easy’s C&I Lending program.
  • CU Times reports Fiserv’s Spot Pay offers CUs a co-branded mobile payment platform and dongle.
  • Forbes looks at the growth of edo, Cardlytics, and Cartera Commerce and how card-linked offers are better than daily deals.
  • TechCruch reports OpenCoin has acquired SimpleHoney. See OpenCoin demo at FinovateSpring in May.
  • ProfitStars launches BillSimple from iPaySolutions.
  • TSYS to present at annual card forum and expo in April.
  • IntelliResponse adds 155th customer, the company’s first credit union.
  • Convenience Store Decisions notes the growing role of mobile payment options such as PayPal and Flint Mobile.
  • FIS, Open Solutions veteran Gary Daniel to join Allied Payment Network. Join them in San Francisco for FinovateSpring.
  • Banking Technology looks at eWise, Pageonce, Mint.com, Kiboo, Holvi, & Moven as PFM resurgence examples.
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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Credit Karma Brings in $30 Million in Series B Funding, Launches PFM Option

By Julie Muhn (@julieschicktanz) Posted on
Categories: Credit Karma

creditkarmalogo.jpg

Credit monitoring and reporting company, Credit Karma announced today that it raised $30 million in Series B funding.

This new round, which is 10 times more than the San Francisco-based company’s Series A round closed in 2009, was led by Ribbit Capital. Other investors include:

    • Susquehanna Growth Equity
    • Felicis Ventures (existing investor)

TechCrunch reports that with this new funding, Credit Karma plans to almost double its staff by the year’s end and develop new products and services, which it is doing this week with the launch of Insight.

Insight is an expansion of Credit Karma’s services that provides consumers with a Mint-type view of their finances that they can view all in one place (see screenshot below).

CKPFM.jpg

Credit Karma demoed at FinovateStartup 2009.

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Finovate Alumni News– April 2, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: BancVue, Bolstr, Flint Mobile, Gold Bullion International, IND Group, Kofax, Open Bank Project, Quantopian, Realty Mogul, TradeKing, TSYS, Tuition.io
  • Forbes looks at Open Bank Project’s open API, interviews TESOBE founder and CEO, Simon Redfern.
  • ChicagoBusiness.com features Bolstr, calls it a new crowdfunding twist.
  • Major Italian bank invests more than $300k to expand its use of Kofax software to branches in EU, the Middle East and North Africa. Come see Kofax demo its new technology at FinovateSpring next month.
  • UK-based global application software and services company, Misys launches new suite of online, mobile banking products powered by IND Group.
  • Mobile Payment Power features Flint mobile payment app.
  • The Seattle Times takes a look at the launch of Realty Mogul. Join them in San Francisco for FinovateSpring.
  • TSYS renews long-term payment processing agreement with Columbia State Bank.
  • TradeKing analyst to speak at annual options industry conference.
  • Pando Daily reports on Quantopian’s new feature, which allows traders to import external data. See them demo at FinovateSpring.
  • Gold Bullion International teams with Envestnet to facilitate precious metals trading for independent advisors.
  • BancVue acquires BancLeasing to allow Community FIs to strengthen commercial lending.
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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Nineteen Finovate Alums Win 2013 PYMNTS.com Innovator Awards

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, BillFloat, Braintree, Capital Access Network, Credit Karma, Intuit, IP Commerce, Kabbage, Leaf, Lending Club, Mitek, MoneyDesktop, OneID, Pangea Payments, PayNearMe, PayPal, PaySimple, Simple, Waspit

InnovationProjectIMG.jpg

PYMNTS.com, a website owned by Business Wire and Market Platform Dynamics, recently published the winners of the 2013 Innovator Awards.

Three Finovate alums were selected as overall Best in Show winners:

First place: Pangea Payments

  • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
Second place: Waspit 
  • Description: Combining mobile payments with social media channels to empower and inform the user in everyday purchases.
  • Finovate demo: FinovateFall 2012
Third place: Leaf
  • Description: Small business payments solution
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15

In addition, five Finovate alums took home Gold awards, five won Silver awards, and seven were awarded in the Bronze category. Here is a summary of all of the winners:

Gold

    • Category: Most innovative
    • Innovation: PayPal POS Initiatives that leverage its worldwide digital wallet accountholder base.
    • Finovate demo: FinovateEurope 2012
    • Category: Best credit
    • Innovation: The consumer’s advocate for demystifying credit with a range of tools and information resources to help them monitor and manage their financial health.
    • Finovate demo: FinovateStartup 2009
    • Category: Best B2B innovation
    • Innovation: Online working capital for small businesses.
    • Finovate demo: FinovateEurope 2013
    • Category: Best SMB innovation
    • Innovation: Small business payment platform integrated with Quickbooks.
    • Finovate demo: Finovate 2009
    • Category: Best innovation via ACH
    • Innovation: Cash flow management, accounts payable/ receivable management platform
    • Finovate demo: FinovateSpring 2011
Silver
    • Category: Most invisible
    • Innovation: Platform-as-a-Service that powers POS 2.0 commerce solutions.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Offers consumers “more time to pay” their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans.
    • Finovate demo: FinovateSpring 2011
    • Category: Best cash
    • Innovation: Enables consumers to shop online and pay with cash easily for a wide range of goods.
    • Finovate demo: FinovateSpring 2011
    • Category: Best SMB innovation
    • Innovation: Cloud-based, small business platform that integrates invoicing and payment acceptance in one system.
    • Finovate demo: FinovateSpring 2012
    • Category: Best comeback
    • Innovation: Alternative business financing that helps businesses tap into the capital it needs to run the business.
    • Finovate demo: FinovateEurope 2011
Bronze
    • Category: Most disruptive
    • Innovation: Mobile checkout service that enables one touch payments across multiple applications.
    • Finovate demo: FinovateSpring 2011
    • Category: Best technology
    • Innovation: OneID lets people sign in without usernames and passwords, yet delivers authentication solutions with non-repudiation, keeping both people and businesses safe from today’s biggest identity and personal information threats.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best newcomer
    • Innovation: Aggregates financial account information and allows users to manage their money in one place, online or with a mobile device.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Brings together investors with creditworthy borrowers to reduce the cost and complexity of traditional lending.
    • Finovate demo: Finovate Startup 2009
    • Category: Best debit
    • Innovation: Reinventing personal banking with modern online and mobile experiences, no surprise fees, and great customer service.
    • Finovate demo: FinovateFall 2011
    • Category: Best prepaid
    • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best check
    • Innovation: Mitek’s patented mobile imaging technology allows users to remotely deposit checks from anywhere, at anytime by snapping a picture with their camera-equipped smartphone or tablet, and has become the “gold standard” for mobile check deposit.
    • Finovate demo: FinovateSpr
      ing 2012

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Finovate Alumni News– April 1, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Andera, BehavioSec, CashStar, Dwolla, edo Interactive, Expensify, EyeVerify, FutureAdvisor, IntelliResponse, Jemstep, Kiboo, Klarna, Leaf, Lighter Capital, Micronotes, MicroStrategy, Narrative Science, On Deck Capital, Open Bank Project, Pageonce, Palo Alto Software, SigFig, Trust Egg, Tuition.io
  • Finovate-F-Logo.jpgExpensify makes Reconciliation and Central Administration features available for American Express corporate cardholders.
  • Micronotes providing series of marketing campaigns for USAlliance FCU to help cross-selling efforts.
  • Palo Alto Software announces launch of EntrepreWorld, a virtual environment to test business plans in a virtual world of avatars. Come see Palo Alto demo its latest technology at FinovateSpring.
  • Consumers CU chooses Andera’s oFlows platform for online account opening and lending.
  • Lighter Capital appoints Molly Gregg Otter as Vice President.
  • Bloomberg looks at how Jemstep, SigFig, and FutureAdvisor help manage your portfolio online. See Jemstep’s new tech at FinovateSpring.
  • Forbes takes a close up look at London’s FinTech Innovation Lab, including participants BehavioSec, Kiboo, and Open Bank Project.
  • Huff Post blog considers Lighter Capital’s Revenue Loans as alternative to VC funding.
  • GCN looks at Dwolla’s use in government.
  • Huff Post blog considers automated report-writing software company, Narrative Science. See its new tech at FinovateSpring.
  • MyBankTracker reviews Tuition.io.
  • Y C Universe profiles Trust Egg. See them demo at FinovateSpring in May.
  • MicroStrategy signs technology alliance agreement with MapR.
  • Berry Review takes a look at Pageonce Money and Bills on Blackberry 10.
  • Times of India highlights Klarna’s growth in Europe.
  • Incentive Mag previews the launch of CashStar’s table gifting solution.
  • Eye Verify announces results from biometric standard, performance and assurance lab survey. Join them in San Francisco for FinovateSpring.
  • IntelliResponse selected by KMWorld as one of “100 Companies that Matter in Knowledge Management” for 2013. Come see them in action at FinovateSpring in May.
  • New York City Mayor Michael Bloomberg officially ‘opened the doors‘ to On Deck Capital’s new NYC HQ.
  • Global Payments and edo Interactive launch pilot for card-linked offers network.
  • Boston Business Journal interviews Leaf CEO Aron Schwarzkopf. See Leaf’s demo at FinovateSpring in San Francisco.
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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Finovate Alumni News– March 28, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Better ATM Services, Capital Access Network, Credit Karma, CSI globalVCard, Dwolla, EyeVerify, Green Dot, Monitise, OneID, Outright.com, SeedInvest, TIBCO Software, Tuition.io, Waspit
  • Forbes places Dwolla CEO, Ben Milne, on the 2013 Disruptors list.
  • Lifehacker reviews Credit Karma for Android.
  • TIBCO Software partners with Aditi Tech to bolster enterprise social, e-commerce solutions.
  • Outright’s 300,000 users surpass 2 billion transactions.
  • Bank Innovation reports: Capital Access Network’s Online Lending Platform, CapTap, Coming to Tablet Soon.
  • Waspit wins second place award in PYMNTS.com Innovation Project’s Best in Show.
  • Monitise CMO Carl Tsukahara interviewed by David Murphy in Mobile Marketing.
  • SeedInvest is among the crowdfunding innovators featured in crowdfundattny blog.
  • Pymnts.com interviews Mark Miles of CSI globalVCard on the business of B2B payments.
  • E&S Consulting blog takes a look at the evolution of Green Dot’s GoBank. Be sure to catch Green Dot at FinovateSpring in May.
  • Better ATM Services wins 2013 Paybefore Award for Visa prepaid gift card program.
  • PC Mag’s SecurityWatch features EyeVerify and its solution to the problem with passwords.  EyeVerify will be demoing their authentication technology at the upcoming FinovateSpring event in San Francisco.
  • Programmable Web takes a look at recently published APIs including one from OneID. Join OneID this May in San Francisco for FinovateSpring.
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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Expensify Adds Bitcoin as a Reimbursement Option

By Julie Muhn (@julieschicktanz) Posted on
Categories: Expensify

Expensify.jpg

Expense report management platform, Expensify, announced today that it has added Bitcoin as a reimbursement option for expense reports.

According to the announcement in its blog post, the San Francisco-based company hopes that this will benefit companies that regularly reimburse international employees and contractors. In addition to cutting back on hefty international currency transfer fees of up to 4%, Bitcoin transactions avoid ACH rails, so they are instant. 

ExpensifyBitcoin.jpg

In a press release, Expensify founder and CEO, David Barrett, stated that Bitcoin is the perfect solution for the increasing number of companies that need cross-currency reimbursement solutions.

To learn more about Expensify, watch its FinovateSpring 2012 demo or come see it demo its new technology at FinovateSpring 2013.

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