Recently in BancVue Category

Here are the news headlines we posted recently on our Finovate Twitter feed (follow it here).

Acculynk Provides Debit Payment System for Ritz Interactive -- Acculynk will provide its PaySecure debit payment service to Ritz Interactive. The service, which allows consumers to make PIN-based debit transactions online, is being deployed on 16 Ritz e-commerce sites. http://bit.ly/aE5DlD

FIRST ROI Joins BancVue -- FIRST ROI, which develops interactive products for financial institutions, is joining its parent company BancVue and changing its name to BancVue Interactive. http://bit.ly/auuovg

NFCNews Covers Bling Nation's Mobile Payments Pilot Program - Bling Nation is testing its mobile payments program in Colorado. According to the NFCNews report, about 500 customers of The State Bank of La Junta use Bling Tags - tiny chips attached to their cell phones - in order to make debit purchases at more than 50 participating businesses in the Colorado town. Bling Nation authenticates the transactions over cell phone networks. About half the bank's customers have signed up for the service. http://bit.ly/bqHhMa

Financial Institutions Adopting POPMoney -- CashEdge announced that more than 100 financial institutions will add its POPMoney person-to-person payment service to their customer options by the end of the second quarter of 2010. POPMoney allows payment transactions over e-mail and mobile services. http://bit.ly/aNNazq

Fiserv Introduces Boardroom Series -- Fiserv announced a new information service for its clients. Called the Fiserv Boardroom Series, the service provides clients with research data and business advice from a series of subject matter experts. The Series will include videos, webinars, and white papers. http://bit.ly/9hEA8J

Fiserv Study on Gen Y Banking Habits -- Research conducted by Fiserv shows that members of Generation Y are frequent users of online and mobile financial services. Gen Y also favors debit cards over credit cards and is more comfortable with Internet-based services than previous generations. http://bit.ly/cLbHBu

Firethorn Expands its Mobile Offering to More Banks -- Firethorn has updated its mobile banking app to allow consumers to access their accounts at more than 3,700 US financial institutions. Previously, Firethorn's mobile banking solution only worked with institutions that were integrated Firethorn providers. http://bit.ly/apbePC (Finovate blog entry here.)

Geezeo to Provide PFM & Social Tools to Vantage Credit Union -- Vantage Credit Union selected Geezeo to provide additional online tools to its Internet banking services. Vantage members now have access to Geezeo's customizable online personal finance management and social networking platform. http://bit.ly/9tHqWH

iPay Technologies Announces Invoicing System -- iPay Technologies announced Billpayperless, a new electronic invoicing and receivables management product for small businesses. The system allows small business owners to receive electronic payments through credit cards or PayPal accounts. http://bit.ly/9C9hUb

iThryv Rebrands to Alkami Technology -- iThryv announced on March 2 that it has completed the transition to its new corporate identity, Alkami Technology. Under the new name, the company will focus on providing online banking solutions for the financial services industry. http://bit.ly/domtAa

Mint Giving Away Apple iPad -- Mint.com is encouraging people to follow the company on Facebook by giving away a free Apple iPad. The winner will be selected on March 17. http://bit.ly/cvRsPi

Prosper Launches Talk Taboo Website -- On March 3, Prosper launched its new Talk Taboo website. The site allows users to share personal finance stories. The site offers a debt consolidation guide and is running an introductory sweepstakes to encourage users. http://bit.ly/9SuG02

TradeKing Launches Mobile Trading Site -- Online broker TradeKing announced a new mobile trading site. After activating the mobile features, clients can access TradeKing from any mobile at http://m.tradeking.com to get stock quotes, check account balances, and place trades. http://bit.ly/b4GRrP

Tyfone Announces MicroSD Secure Digital Memory Cards -- Tyfone announced the completion of its SideTap micro secure digital (MicroSD) memory cards, which will become available to consumers in the second half of 2010. The memory cards, which carry financial information, can be used in mobile phones and accessed at contactless payment terminals, creating an electronic wallet. http://bit.ly/9wi5aR

WorkLight to Host Widget Webinar -- On March 16, 2010, WorkLight will host a webinar entitled, "5 Questions You Should Answer Before Launching Widget Banking." The webinar will cover widget technology and its impact on the banking world, as well as providing discussion on implementation. http://bit.ly/d7LhDz

Zecco Updates Website with New Tools -- Online broker Zecco has rebuilt its website to offer new data tools for investors. New additions to the site include real-time quotes, charting tools, and real-time portfolio monitoring. http://bit.ly/aYghMi

On February 9, BancVue announced the acquisition of Skill-Life, a provider of interactive games designed to promote financial literacy. The CEOs met at our FinovateFall in October. The purchase marks the company's first acquisition. BancVue anticipates further acquisitions and strategic partnerships in the future, according to John Waupsh, the CEO of BancVue subsidiary FirstROI. The purchase price of the deal was not disclosed.

BancVue powers high-yield checking and other products for more than 650 U.S. community financial institutions. The company debuted its Kasasa branded checking/saving accounts at FinovateFall 2009 (video here).

Skill-Life develops platforms that allow children to earn real-world rewards as incentives in games that teach financial skills. The company's first game, CentsCity, launched its beta version at FinovateFall 2009 (video here).

CentsCity presents an interactive online environment developed for children between eight and 12 years old. (See screenshot #1, below.) Players visit different locations in the game world to play mini-games using ducats, the in-game currency. The game requires players to monitor their in-game cash and expenses in order to continue participating and eventually save enough ducats to earn rewards (screenshot #2).

The game also includes an interface for parents, allowing them to insert personal incentives, such as extra TV time or an extended curfew, to encourage their children to play and learn. Skill-Life hopes to entice parents into setting up game rewards, such as savings accounts that must be unlocked in the game before the children can access the funds.

Financial companies can add their own branding into the game environment.

Skill-Life's current business model primarily depends on licensing to financial institutions and groups like school districts and community organizations. Players can also access the game at Skill-Life's website, choosing between free and a more advanced pay-version of the game, which charges a one-time fee of $4.95.

#1. CentsCity Presents a World to Explore

#2 CentsCity Players Learn to Save for Rewards

Six new community financial institutions have agreed to carry Kasasa branded products, joining the 13 banks and one credit union already supporting the program across 11 states. The new additions bring the number of states in which Kasasa products are available to 15.

Kasasa is the first nationally branded checking account supported by individual community banks and credit unions. The idea, created by bank marketing company BancVue, is simple: By combining together under a single brand, smaller banks can pool their marketing resources, creating a unified advertising strategy that can compete against the banking giants that dominate the industry. BancVue launched Kasasa in May 2009. (Finovate video here, Netbanker blog post here.)

Joining the Kasasa program are six financial institutions:

• The Farmers & Merchants State Bank in Archibold, OH, the third Kasasa bank in Indiana and the second in Ohio ($640 million in deposits)
• First Bank in Clewiston, FL, the second Kasasa bank in Florida ($220 million in deposits)
• InCommons Bank in Mexia, TX, the second Kasasa bank in Texas ($74 million in deposits)
• Murphy-Wall State Bank & Trust Company in Pinckneyville, IL, the fifth Kasasa bank in Illinois ($69 million in deposits)
• Aspire FCU in Clark, NJ, the first Kasasa financial institution in New Hampshire, New Jersey, New York, and Virginia (21,000 members)
• Double 11 Credit Union in Indianapolis, IN, the first Kasasa credit union in Indiana (5,000 members)

Adding new banks and credit unions is important to Kasasa because each new addition expands the service area covered by the program, strengthening the brand nationally and benefiting all the financial institutions participating in it.

Kasasa enables participating financial institutions to offer customers their choice of four products:

1. High-interest checking
2. Savings accounts
3. Reward account giving debit-card users iTunes downloads
4. Charitable program allowing users to allocate interest payments to established charities.

Of the six newcomers, only The Farmers & Merchants State Bank elected to offer all four of Kasasa's products.

Kasasa's four products