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  • Finovate-F-Logo.jpgTIO Networks launches mobile payment app for Mobilicity.
  • PayPal signs on to the ePayments Code released by the Australian Securities and Investment Commission (ASIC code, which replaces EFT code).
  • CNN Money reviews Mint and HelloWallet side-by-side.
  • CNN Money names BillShrink as best app to manage your money.
  • Flint Mobile announces partnership with NXGEN subsidiary Fidano to support mobile payment adoption.
  • Through partnership with Luminous, Nihilent to sell Luminous' solutions in India.
  • IDentity Theft 911 expands service partnership with VyStar Credit Union.
  • Cofounder of TransferWise, Taavet Hinrikus writes in the Wall Street Journal about the importance of team-building for successful CEOs.
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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinancial services and Big-Data executive Mary Anne Keegan joins rapidly growing BillGuard as CMO.
  • CBS News recommends BillShrink for recent college grads.
  • Cachet Financial Solutions expanding, relocates to new facility.
  • Cartera Commerce links Offers to US Airways Dividend Miles members.
  • The Miami Herald reports Kony Solutions to Power Aetna's Mobile Application Platform.
  • Ping Identity named a winner of the Midsize Enterprise Summit East 2012 XCellence Awards.
  • Plastyc launches Kindle Fire app for UPside Visa.
  • TradeKing ranked top in customer service for 3 consecutive year in SmartMoney Magazine's annual broker survey.
  • YuuPay and Virtual Piggy partner to provide secure online and mobile payments for under-18 users.
  • Xconomy reports Yodlee secures $8,309,780 new financing.
  • Farmington Bank selects Q2ebanking's online banking 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.

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgDes Moines Register reports Dwolla to establish small New York City satellite office.
  • Armada Data Solutions adds Check Point Software Technologies' firewall services to security practice.
  • TSYS signs payment services agreement with Pivotal Payments.
  • AOL UK lists CurrencyFair as 1 of 5 ways to transfer money abroad.
  • The Washington Post lists Expensify as an app that can make life at work a bit easier. Come see their new tech at FinovateSpring.
  • Blaze Mobile awarded another patent for NFC payments. See its live demo at FinovateSpring.
  • Credit Union Times looks at Filene-backed SaveUp. Come see its live demo at FinovateSpring.
  • Chicago Sun-Times highlights Authentify's technology.
  • The Wall Street Journal discusses P2P lending networks Prosper & Lending Club.
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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We recently looked back at Finovate's Best of Show Awards archives and wanted to share the list of the 41 award-winning companies.

Here's the Best of Show history that stretches back to 2007, the inception of Finovate:


Finovate2007.jpg

Held October 2, 2007


Mint: Online PFM for individuals

Mortgagebot's Mortgage Marvel: Mortgage marketplace

Prosper: P2P lending network


FinovateStartup.jpg

Held April 29, 2008


First ROI (now BancVue): Develops products and services for community financial institutions

Jwaala: Provides software solutions to help financial institutions compete

Zecco: Online stock and options trading

Zopa: P2P lending network


Finovate2008.jpg

Held October 14, 2008

CheckFree: Online banking platform 

Credit Karma: Provides a free and easy way for consumers to understand, monitor and monetize their credit profile

Mint: Online PFM for individuals

Neosaej's MoneyAisle: Platform where banks compete in live auctions for an individual consumer's business 


FinovateStartup091.jpg

Held April 28, 2009


BillShrink (now Truaxis): Provides a free cost-savings tool that saves consumers money on everyday bills

Prosper: P2P lending platform

Silver Tail Systems: Predictive analytics to prevent fraud abuse

SimpliFi: A web service that allows anyone to create and update their own financial plan


Finovate2009.jpg

Held September 29, 2009


BancVue's Kasasa: national checking/ savings account brand for community financial institutions

Credit.com: Provides free interactive tools, education, and unbiased comparisons of quality financial products and services

Digital Insight from Intuit: Provides on-demand banking services to help financial institutions serve clients

Silver Tail Systems: Provides online fraud detection platform 

Yodlee: Provides personalized financial solutions to financial institutions


FinovateSpring2010.jpg


Held May 11, 2010

Bobber Interactive: Money management platform for youth

Expensify: Online and mobile expense report platform

oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings

Wikinvest: A platform for investors to share trading tips


Thumbnail image for FinovateFall2010.jpg


Held October 4-5, 2010


Betterment: Investment account for savings management 

BillShrink (now Truaxis): Loyalty rewards provider

Bundle: Provides socially informed money management for individuals

Dynamics: Produces and manufactures intelligent powered cards

oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings

PayNearMe: Cash transaction network for the underbanked

SecureKey: Token-based authentication technology


FinovateEurope2011.jpg


Held February 1, 2011

eToro: Social investment network

Finantix: Provides sales and advice solutions for financial services 

Liqpay: Payments platform

Meniga: Online PFM for financial institutions


FinovateSpring2011.jpg


Held May 10-11, 2011

BancVue: Develops products and services for community financial institutions

BankOns: Mobile app offering consumers real-time savings at local merchants

Dwolla: Online, mobile, and social peer-to-peer payment platform

oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings

Mitek Systems: Provides apps for smartphones that allow users to deposit checks and pay bills via their devices' cameras

PayNearMe: Cash transaction network for the underbanked

Wikinvest: A platform for investors to share trading tips


Thumbnail image for FinovateFall2011.jpg

Held September 20-21, 2011



BillGuard: People-powered antivirus for bills

Dynamics:  produces and manufactures intelligent powered cards

eToro: Social investment network

FamZoo: Online "virtual family Bank"

FeeFighters: Platform that simplifies the process of choosing a merchant account provider

LearnVest: Online PFM for women

Offermatic: Targeted online offers provider

oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings

Personal Capital: Online financial advisor helping people manage their investments


Thumbnail image for FinovateEurope2012Logo.jpg

Held February 2, 2011


Cardlytics: Transaction-based rewards

Dynamics: produces and manufactures intelligent powered cards

eToro: Social investment network

Nutmeg: Online investment manager that democratizes saving and investing
  • Kony and VASCO form alliance to offer a higher level of security for mobile applications.
  • Daily Disruption features Matt Fellowes, HelloWallet CEO, as the disruptor of the day.
  • Credit Union Times reports Fiserv melds P2P services ZashPay & Popmoney.
  • Finextra talks with Cartera Commerce, Cardlytics, Segmint, and Truaxis (formerly BillShrink) about how banks can use reward programs.
  • Finsphere awarded U.S. patent recognizing innovation in mobile identity authentication.
  • T8 Webware wins interactive media award at the 2012 ADDY 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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFox Business News advises using BillShrink to review your mobile phone bill.
  • T8 Webware to receive $120k in incentives & $200k in job training to help it expand to Des Moines.
  • BetaBeat plants rumor that Dwolla landed $10 million in Series B funding from Union Square Ventures.
  • MShift reaffirms strategic relationship & rights to MShift software & technologies.
  • Finsphere raises $11.3 million, adds Vodafone board member.
  • The New York Times Buck blog details Dwolla's payments approach.
  • PayNearMe to launch mobile cash payment application in mid-February.
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.
Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg
  • Credit Karma correlates consumers' credit scores with their email domain name.
  • Fierce Finance IT looks to Cardlytics, BillShrink, Clovr Media, FMN Technologies & Segmint for transaction-driven marketing.
  • Credit Union Times shares Andera's stats from bank-transfer day.
  • GCS Federal Credit Union to offer Geezeo's online PFM tools.
  • CIBC selects Kony Solutions to develop and deploy CIBC's mobile brokerage app.
  • City AM lists eToro as a way to sell your trading homework.
  • Citywire money discusses P2P platforms Zopa, Prosper, and Lending Club.

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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBank Technology News reports BankSimple benefits from fee discontent. 
  • Jason Calacanis interviews BillShrink (Truaxis) CEO during "This Week in Startups."
  • LearnVest CEO Alexa Von Tobel provides advice in Forbes on how to save $1k by 2012.
  • SafetyPay partners with Brazil's sixth-largest bank, HSBC Bank Brazil.
  • CashStar raises $12 million in series C financing.
  • Mint.com's iPad app now available, includes transaction feed.
  • Under the Radar blog interviews Expensify CEO David Barrett.

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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCredit Karma is giving away free credit-monitoring service to first 12,500 readers.
  • HelloWallet opens a second office in San Francisco.
  • FreeMonee tells AOL Daily Finance that it is to launch a merchant-reward plan with a major U.S. bank on Nov 17.
  • Credit Union Times reports that mShift is one of the three largest providers of mobile banking tools to credit unions.
  • ABC News looks at BankSimple's alternative banking approach.
  • Auto insurance & finance providers The General, Mark One Holdings, &  Freeway Insurance add BillFloat as a payment option.
  • Continuity Control endorsed by Western Independent Bankers.
  • Expensify launches an app for the Windows phone.
  • Mlive.com recommends using BillShrink (Truaxis) to avoid an outrageous mobile bill.
  • Mint.com and Budgettracker.com are recommended as two tools for mitigating financial mistakes.
  • Bank of America will use Yodlee's FinApp 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.
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete

Out of 268 alumni, 75 had more than 10,000 unique U.S. visitors in August 2011 and are included in the tables below. Of those, 41 (55%) had more visitors in August than July. Year-over-year, 45 (60%) had traffic increases.

Private Companies

  • Seeking Alpha -- the most-trafficked in August with 2.5 million unique visitors -- also had the highest increase in number of unique month-over-month visits with 300,000 more visits in August than in July.
  • Budgettracker.com saw the highest monthly growth percentage with more than 6.5 times the number of unique visitors in August compared to July.
  • Betterment had the highest percentage growth year-over-year, up 88x.
  • Cortera had the highest number of unique year-over-year visitors, growing by 1.5 million. 
August2011PrivateWebTraffic4.jpg
Source: Compete.com retrieved week of October 3, 2011
1) The previous month recorded was July 2011
2) Truaxis was formerly BillShrink
4) Kasasa is powered by BancVue
5) Checkingfinder.com is powered by BancVue

Public Companies

  • Fiserv had the highest month-over-month percent growth, with 50% more visitors.
  • CheckFree had the highest percentage growth year-over-year, with over 5 times the number of visitors.
  • S1 also had a high percentage growth year-over-year, doubling its visitors.
August2011PublicWebTraffic5.jpg
Source: Compete.com retrieved the week of October 3, 2011
1) The previous month recorded was July 2011.
_______________________________________________________
Notes:
1. We reviewed 268 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = Not measurable
4. t= Tie
5. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMyBankTracker.com covers the FinovateFall Best of Show videos.
  • American Banker discusses the effects that PayPal and BankSimple will have on bank branches.
  • InComm named Leading Prepaid Organization and Best Prepaid Product Distributor at 2011 Prepaid Awards.
  • Dynamics wins Best of Show at 2011 BAI Retail Delivery Conference for its next-gen magnetic stripes.
  • Des Moines Register reports that Ben Milne, Dwolla CEO is to present at the Thinc Iowa event.
  • T8 Webware to provide Call FCU with a custom website.
  • A+FCU launches BillShrink: Statement Reward.
  • Prosper provides even better rate discounts for repeat Prosper borrowers.
  • BillGuard receives $10 Million in Series B funding.

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.
BAIIMG2.jpg
The BAI Retail Delivery conference begins tomorrow with 29 Finovate alumni participating in sessions and/or exhibiting on the trade show floor.

Session Speakers
  • Tuesday, Global Game-Changer Session
    Speaker: Jim Taschetta from FreeMonee
  • Wednesday, Technology for Business Summit 
    Speaker: Mitch Jacobs from On Deck Capital
  • Wednesday, Technology for Business Summit Session 
    Speaker: David Eads from Kony Solutions
  • Thursday, Technology for Business Summit Session
    Speaker: Eric Connors from Yodlee
  • Thursday, Marketing & Product Management Summit Session 
    Speaker: Rod Witmond from Cardlytics
Exhibitors 
BAI Mobile Link
Mobile Link Panel Discussions
Solutions Theatre
Jim Bruene and I (julie@netbanker.com) will be in attendance and will update the blog and Twitter with new developments throughout the event. 
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete

Out of 255 alumni, 59 (23%) had more than 10,000 unique U.S. visitors in July 2011 (see tables below). Of those, 19 (32%) had more visitors than in the previous month and 25 (42%) were flat. Year-over-year, 26 (44%) had an increase, 10 (17%) were flat, and 23 (39%) were down. 

Private Companies
Notable successes:
  • Seeking Alpha had the most traffic in July with more than 2 million unique visitors.
  • eToro saw the highest monthly growth percentage with 3 times the number of unique visitors in July compared to June.
  • Bundle had the highest increase in number of unique month-over-month visits, with 450,000 more visitors in July than in June.
  • eRollover had the highest percent year-over-year traffic increase, with 260,000 more visitors from last July. 
JulyWebTrafficPrivate6.jpg
Source: Compete.com retrieved week of August 15, 2011
1. The previous month recorded was May 2011
2. Sears Credit Score is powered by CreditKarma.com
3. Kasasa is powered by BancVue

Public Companies
Notable successes:
  • PayPal had the highest number of U.S. visitors in July, with more than 30 million visitors.
  • Jack Henry & Associates saw the highest monthly growth with twice as many visitors in July than June.
  • Wipro Technologies had the highest year-over-year growth, with 3 times as many visitors this year compared to last year.
  • FIS Global and Online Resources also doubled their traffic compared to last year. 

JulyWebTrafficPublic4.jpg
Source: Compete.com retrieved the week of August 15, 2011
1. The previous month recorded was May 2011.
_______________________________________________________
Notes:
1. We reviewed 255 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = Not measurable
4. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.


FInFallLogo.jpgMore than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the biggest Finovate ever, Sep. 20/21 in NYC.

Each company provided a sneak peek of what they'll be demoing on stage next month. Below is the first installment of these teasers. We'll have more next week. 

Don't miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateFall ticket here

_____________________________

backbase.jpg
Backbase is launching "Retail Bank of the Future," representing the e-banking engagement experience of tomorrow. It embodies the newest User Experience (UX) patterns based on input gathered from customer research, industry thought leaders and UX specialists.

Innovation type: Mobile UI, online UI


BalanceFinancial.png
Personal finance is a chore and not too high on any To-Do list. Life is busy and finance stresses people out. 

At Balance, we manage your personal financial chores for you. We combine professional service (your own bookkeeper!) with all of your financial accounts and bills in one place for a fully managed experience that is personalized for you.

At Finovate we will show how you can now connect your financial accounts to Balance and power our newest expense tracking, budgeting and custom reporting tools. Also, look for a demo of our photo bill pay app and some other surprises!

Innovation type: Banking, payments, PFM


Betterment.png
Saving for a house? And retirement? And that dream vacation? No problem with Betterment.com! We've created the simplest, fastest, and most efficient way for consumers to invest for their goals and the future.

Innovation type: Banking, investing, PFM


BillShrink.jpg
Banks need to re-define the relationship they have with consumers if they want to succeed in today's market. StatementRewards has introduced an effective way for financial institutions to inexpensively reward their consumers for banking with them, which in turn increases loyalty and customer satisfaction. 

At Finovate, BillShrink announces a new innovation that harnesses the intelligence of aggregated transactional data and applies it to customers' social networking and purchase management activities. By utilizing advanced analytics to present the most personalized offers and other services to customers, StatementRewards gives financial institutions a unique, competitive edge.

Innovation type: Cards, PFM, rewards


cbanc.gif
Want to see the definitive search engine for tackling today's banking issues? cbanc Network has created a revolutionary online collaborative platform for financial institutions to share best practices. This secure online community contains the largest repository of peer-authored, board-approved, exam-tested content anywhere. Here, banking professionals trade real, practical work -- including policies, procedures, agreements, vendor reviews and more from every department of a bank or credit union. 

This network
  1. Motivates people to share their best work 
  2. Uses points as currency to incentivize users 
  3. Helps FIs prepare for exams
  4. Protects users around legal and competitive concerns of sharing

Innovation type: Back office, online UI, security


Crealogix.jpg
The technology of the CLX.SentinelDisplay, a Class 4 reader with a hardened browser, hardened middleware, an integrated smart card and a high-resolution display,  ensures extremely high, comprehensive security in e-banking applications. 

Along with the reader's extremely secure customer authentication and transaction signing mechanisms, the advanced concepts for application authentication and pro-active security updates is unique. The hardened browser (CLX.SecureBrowser) onboard the reader ensures full confidentiality of customer data - a security aspect that is often entirely ignored.

Innovation type: Identity, payments, security


DeMyst.png
DeMystData's new web-based modeling platform helps lenders grow thin file portfolios without increasing their risk level. With minimal inputs, our tool leverages the vast amounts of data accumulated online, applies advanced statistical techniques, and configures a bespoke predictive API that captures additional customer information without adding underwriting complexity.  

The DeMystData platform has application in variety of commercial environments including credit issuance, risk assessment, segment identification, and offer customization.

Innovation type: Identity, lending, marketing


FamZoo5.jpg
Credit unions, banks, financial advisors, financial institutions: How are you delivering youth financial education to your client families? How are you connecting with your next generation client? How are you fulfilling Community Reinvestment Act (CRA) responsibilities for financial literacy programs that progress in complexity as students get older? 

You've tried online content and even interactive online games, but the results are disappointing. Neither can hold a child's attention for long or keep them coming back over the years. We have a better way. It's no game. It's real experience. It works. We can't wait to show you at FinovateFall 2011.

Innovation type: Online UI, PFM


Fuze_Network.jpg
Fuze Network provides innovative ways for financial companies and their customers to work together. Learn how we help billers to build brand loyalty, aid in collection efforts, reduce fees, boost your customer service efforts and help to eliminate misdirected funds.

With Fuze at your back we can help to boost your store traffic, drive sales, increase revenues and simplify the hassle of payment processing all while creating a better customer service experience.

Fuze helps connect customers with the closest payment locations, online bill payments, simple cash payment solutions, and easy utility bill payment all while saving them fees and the hassle and stress of paying bills.

Innovation type: Back office, cards, payments


LighterCapital.png
Ready to have your financial mind blown away? Lighter Capital is combining light-hearted irreverence PLUS a light-weight and flexible funding structure PLUS a social-based investment decision analysis to make it easier, faster and more fun for small businesses to access capital than ever before! Get ready!

Innovation type: Investing, lending, small business


Micronotes (2).jpg
KulaX is a cross-sell engine that enables financial institutions to leverage their online banking platform to generate more leads faster without interfering with core banking functions. 

Online banking customers are targeted with the "next best product" where they are invited, at logout, to engage in an automated one-on-one microinterview with their financial institution about their financial products needs and preferences. Upon interview completion, customers are presented with special offers for the FI's products and services that have been tailored based on interview responses; requested offers are emailed to customers.

Innovation type: Marketing, rewards


modoPayments.jpg
Modo converts redemptions to payments, and makes payments mobile.  Our demo will show how easy it is to onboard consumers and merchants, as well as the simplicity of paying with modo.  

And of course, most importantly, why you should GET modo and PAY with modo, in the first place: MORE!

Innovation type: Mobile, payments, rewards


MOOTWIN.jpg
When your brand is in the palm of your customer's hand: make the most of mobile technology. Mootwin helps your business enhance the mobile customer experience, re-enforce loyalty, and accelerate revenue growth.

Innovation type: Communications, marketing, mobile


ACIWorldwide.jpg
MShift and ACI Worldwide formed an alliance in 2010 to offer mobile delivery of ACI Enterprise Banker, the industry leading business banking solution.  

They are now partnering to create a ground-breaking mobile business banking native application for the tablet. The application is focused on robust and graphically rich presentations of financial data as well operational tasks like ACH, wire release and bill payment, all with access from anywhere at anytime.

Innovation type: Banking, mobile, payments


MyCyberTwin.jpg
MyCyberTwin will demo its Artificial Intelligence solutions, called virtual agents, and give a detailed explanation about how current leading financial institutions are using the technology today and will use the technology in the future.

It is a powerful demo to show an audience how a computer thinks and answers questions in real-time, helping customers get the answers they need while helping companies garner the intelligence of the customers visiting their websites. This demo will also showcase an emotionally responsive AI virtual agent able to capture emotion including smiling, frowning, and expressing gratitude.

Innovation type: Communications, marketing, sales


oFlows.png
The oFlows paperless loan and deposit originations system has expanded beyond financial institutions.  Because oFlows has seamlessly integrated credit, fraud and payment systems, now anyone can use oFlows for just about any transaction.

Think of the last time you were handed a clipboard with a paper form on it. Next time it might be a tablet computer running oFlows.

Innovation type: Banking, lending, mobile


Planwise(mifii) (1).png
Consumers have plans, life plans, and want to understand how those plans affect their finances in the future, so they can make better decisions.

Planwise is launching tools that will help any consumer, from the teen buying a laptop, the 20-something buying a car, the couple buying their first home to the astute property investor, to better understand how their decisions today might look in the future financially.

The consumer can then connect with the lender or adviser of choice to quote, get advice or apply.

Innovation type: Lending, marketing, PFM


Plastyc2.jpg
Putting money aside for a rainy day is easier said than done. Many Americans do not have any money saved for emergencies. 

Plastyc aims to change this by introducing automated savings built into prepaid card accounts. Setting aside a few dollars every day, week or month will be just a single click away. Money accumulated in the savings purse of the card account will reward savers with cash at unprecedented rates.

Innovation type: Banking, cards, online UI


ReadyForZero.png
ReadyForZero is an online program for the 77% of American families who are paying down debt. For individuals and families, ReadyForZero facilitates the management and reduction of debt. 

For financial institutions, the program is a low-touch and consumer-friendly alternative that reduces net credit loss and improves customer retention.

Innovation type: Online UI, payments, PFM


Rebirth_Financial.jpg
Rebirth Financial, noted by the Federal Reserve Bank of San Francisco as a company to "change the US finance system," is shaking up the small business lending game again! 

In February, Rebirth launched the nation's first peer-to-business lending platform. Shortly after, Rebirth uniquely integrated SBA and CRA lending into the P2B mix. 

Now, Rebirth is introducing the JAS Rating System! It's a system that will redefine the way we analyze small business and a must-see for financial institutions lending to small businesses and companies wondering whether they should extend credit to a new client. It's just another game changer from Rebirth Financial.

Innovation type: Back office, lending, small business


T8Webware.png
T8 Webware is bringing native mobile services to the masses by giving consumers real-time access to their financial purchase capabilities. Grip, a financial decision-making tool supports consumers' daily needs, empowering them to understand their money flow simply and without clutter. 

Grip enables financial institutions to provide convenient information on the go; addressing consumers' mobile needs through a highly secured mobile and tablet app. With no reliance on core integration, financial institutions can offer Grip almost immediately and without any upfront fees. It can be deployed in three weeks and costs 99 cents each month for customers who use the app.

Innovation type: Communications, mobile, PFM


Trasecq.jpg
The Transecq solution, powered by ENTERSECT ITA, has revolutionized two-factor authentications by utilizing the power of the end user's mobile device, fully encrypting the device and creating a multi-factor authentication tool. 

Strong 2-Factor authentication delivered ubiquitously across the globe puts the power of approval in the appropriate hands.Thus providing protection and security way beyond passwords and account challenges.

Transecq is the industry leading innovator and developer of mobile security solutions for the financial services market.  All the services leverage the security of Digital Fingerprint technology which uniquely ties a user and his/her mobile phone to an encryption key.

Innovation type: Communications, identity, security


weemba.jpg
Weemba revolutionizes the way borrowers and lenders find each other and interact in a social-network-like online format. Borrowers create a profile and post a loan project under a nickname. 

Profiles may include everything from the Borrower's income and education level (individuals) to their number of employees and annual sales (businesses). Lenders search projects by credit score, amount needed, purpose and more. 

When a Lender finds an interesting project, the Lender then may ask the Borrower for access to their real identity. If the Borrower grants access to the Lender, all further contact and any negotiations take place outside Weemba.

Innovation type: Lending, marketing


yodlee.jpg
At FinovateFall 2011, Yodlee will demonstrate customization without effort. The company has developed a way for banks to automatically tailor a consumer's initial experience with personal financial management.

Or, as the company likes to say:

    Online banking can be such a chore
    Checking balances is often a bore
    With new customization
    You'll cause a sensation
    Yodlee FinApps offers MUCH more

    All new at Finovate
    Banking that will motivate
    Inspire and personalize
    You'll see how to stylize
    Your customers will tell you you're so GREAT

Each month we survey the Web-traffic performance of our alums, using data from Web-analytics company Compete to review the sites they operate. 

Out of 255 alumni, 62 (24%) had more than 10,000 unique U.S. visitors in May 2011 (see tables below). Of the 62 reviewed, 25 (40%) had fewer visitors than in the previous month and 28 (45%) saw a decline year-over-year.

Private Companies
The 44 private companies are as follows:

Notable successes:

  • Cortera saw the highest number of unique U.S. visitors in May, with almost 2 million hits.
  • HelloWallet experienced the greatest month-over-month growth, with more than four times as many visitors.
  • Betterment saw its traffic increase an impressive 38 times from May of last year.

Private Finovate Alumni With More Than 10,000 Unique Visitors in May 2011

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for May2011PrivateWebTraffic.jpg






Source: Compete.com retrieved June 29, 2011

Public Companies
The 18 public companies are as follows:

Notable successes:

  • PayPal experienced the highest number of U.S. visitors in May, with over 32 million visitors.
  • TransUnion Interactive saw the highest month-over-month growth with more than two times the number of visitors in May than in April.
  • Sybase 365 experienced the highest year-over-year growth, with its traffic up almost 80% from last year.

Public Finovate Alumni With More Than 10,000 Unique Visitors in May 2011 

May2011PublicWebTraffic.jpg

Source: Compete.com retrieved June 29, 2011

_____________________________________________________________________________

Notes:

1. We reviewed 255 unique sites. Data was unavailable or irrelevant for 201 sites because: 

  • They had been acquired.
  • They were no longer available online.
  • They were not covered by Compete for various reasons (including some that were not U.S. domestic companies).
  • The number of unique visits was too small to be considered accurate.
  • They were subdomains of larger websites.

2. Numbers have been rounded to three significant digits.

3. The charts include companies that did not have measurable traffic in May 2011, indicated by "N/A."

4. Compete draws its information from the online activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic, and may undercount at-work usage.

Thumbnail image for AlumNewsIMG.jpg
AcceptEmail
AcceptEmail partnered with WorldPay to launch an e-billing and online payment service. Link

Balance
GeekWire interviewed Balance Financial CEO, Devin Miller. Link

BancVue
BancVue executives won Ernst & Young Entrepreneur of the Year. Link

BankOns
Examiner.com referred to BankOns as the new GroupOn. Link
billshrinkLOGO.jpg

BillShrink
BillShrink was featured in The New York Times. Link

BrightScope
Forbes reported on BrightScope's list of exchange-traded funds held in America's 401k plans. Link

CheckFree
CheckFree expanded its functionality to support account-to-account and peer-to-peer transfers. Link

Clairmail
ClairMail.jpg
Clairmail joined the RSA Secured Partner Program to provide secure access to mobile banking. Link

doxo
  • doxo CEO explained paperless billing in a video interview, highlighting the mobile app. Link

  • doxo was featured on the Top Productivity Apps website. Link

  • Northwest Innovation reviewed doxo's mobile app. Link
Dwolla
TechCrunch reported that Dwolla hit a milestone of $1M in transactions per week. Link

Enloop
  • Business News Daily interviewed Enloop CEO, Cynthia McCahon, about creating a "living business plan". Link

  • Huffington Post spotlighted Enloop. Link
eRollover
eRollover launched an online solution for financial advisors to grow practices. Link

eWiseThumbnail image for eWise.jpg
eWise announced its partnership with Affirmative Technologies to speed the adoption of alternative payment methods. Link

Kiboo
Kiboo launched a public site called "Know Your Money".  Link

Lending Club
  • Lending Club posted a video of their five-word acceptance speech at the Webby Awards. Link

  • The Wall Street Journal noted Lending Club as leading the way in P2P lending. Link
mFoundry
  • mFoundry helped Starbucks build an app for Android. Link

  • mFoundry passed the 400 customer milestone. Link
Mitek
Mitek's mobile check deposit was cited as the number one feature that would cause you to switch banks. Link

Monitise
  • ComputerWeekly discussed the survey Monitise conducted on mobile banking. Link

  • Forbes discussed Monitises' deal with Visa. Link
peerTransfer
  • peerTransfer is hosting a free webinar on international student payment processing this Wednesday, June 22. Link

  • peerTransfer won the Innovation Award from Massachusetts Innovation & Technology Exchange. Link
ProsperThumbnail image for Prosper.jpg
  • Prosper announced that it is giving away an iPad2 to new investors. Link

  • The Wall Street Journal noted Prosper as leading the way in P2P lending. Link
SafetyPay
SafetyPay was selected by BorderJump as its preferred payment solution for cross border transactions. Link

SmartyPig
Fox Business News suggested using SmartyPig.com as a tool to help "pump up" savings. Link

Tagit 
Tagit helped Commonwealth Bank launch its first mobile app. Link

ThreatMetrix
  • ThreatMetrix announced its cloud-based fraud prevention platform. Link

  • ThreatMetrix launched "ThreatMetrix Fraud Facts," a free downloadable report. Link
Tyfone
  • Tyfone was awarded an NFC over-the-air and over-the-wire seminal patent. Link

  • American Banker reviewed Tyfone's mobile payment patent. Link

  • NFC Rumors looked at how Tyfone uses SD cards to enable NFC transactions. Link

FinovateFall_wdate_web.gif

We're pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.

This fall's NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.

Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition! 

(P.S. If you're interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)

ericphoto.jpg

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

image[6][1]It was an incredible two days in NYC (Oct. 4&5) as we witnessed 56 new products, services, and features debut on the big stage. Of 56 live demos, there were a few slow connections, an occasional timeout, a missed download or two, and a few lost seconds waiting for mobile screens to refresh, but only one that we had to completely restart. So, overall it went very smoothly.

And the packed house had a great time, found a number of things they could take back to their own companies, and made some great connections (at least that's what they told me anyway).

At the end of each day, attendees voted on three "Best of Show" demos from the 28 just seen. Then, at the end of the conference, we ranked all 56 companies based on this audience vote (see notes). The top seven were named Best of Show.

Every company that presented was named Best of Show by some portion of the audience. But the ones that ended on top are as follows (in alphabetic order):

Betterment    BillShrink  Bundle Dynamics 
    oFlows          PayNearMe   SecureKey

Congratulations! And thanks to everyone that presented, sponsored, attended and followed the #finovate tweets. If I ever recover, I look forward to writing more about where this is all headed.

------------------------------

Notes on methodology:
1. Only audience members not associated with demoing companies were eligible to vote. Finovate employees did not vote.  
2. Because a different number of ballots was cast each day, we ranked the demos based on the percentage of ballots voting for each presenter. 
3. The exact written instructions given attendees:
"Please rate (the companies) on the basis of demo quality and potential impact of the innovation they demoed. PLEASE CIRCLE ONLY THREE"

Here are the news updates for the week of August 16, 2010. To view in real-time, follow us here

Acculynk partners with NetWorks to provide pin debit solutions. NetWorks is a nonprofit processing organization which serves credit unions in ten states, processing 13 million transactions a month. http://bit.ly/finovate8171

BlingNation founder Meyer Malka interviewed by The Paypers. The story focuses on new innovation in mobile payments. http://bit.ly/finovate8192 

ClairMail unveils new tools for international currency conversion. The tools include multi-currency management, international bank/ATM locators, and multi-language capability. http://bit.ly/finovate8191

Warren Buffett buys 4.4 million shares of Fiserv. The $220 million investment boosts confidence in the fintech sector. http://bit.ly/finovate8193  

Finovate alum Kabbage selected as Microsoft BizSpark partner of the day. http://bit.ly/finovate8182

Want to see Lending Club, BillShrink and more at SXSW 2011? See Lending Club's post and vote for the panels you would like to see. http://bit.ly/finovate8161  

Prosper releases 12-month P2P lending statistics. Prosper considers itself the world's largest peer-to-peer lender with 34,000 loans totaling $202 million. http://bit.ly/finovate8181
FinovateFall_wdate_web.gif

We're very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.

Over the show's two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.

Without further delay, here's the list of companies we're excited to showcase:


If you're interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we're expecting to sell out). We'll see you in New York!


ericphoto.jpg

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

Here are the news headlines we posted this week on Twitter (follow our feed here).

ThreatMetrix partners with Offerpal Media to stop fraud -- The ThreatMetrix data will give Offerpal additional abilities to identify potentially fraudulent user transactions. http://bit.ly/cerWUY

Peter Pham to leave BillShrink -- Schwark Satyavolu will re-assume the CEO Position. Pham will be leaving BillShrink to join Trinity Ventures as an Entrepreneur in Residence. http://bit.ly/FINOVATE611

iBearSoft releases a video demo of the iBearMoney for iPad -- Money for iPad is a top-selling app in the paid personal finance category in the American iTunes app store. http://bit.ly/FINOVATE613

Lending Club hits $10 mil in monthly originations for first time -- Congratulations to Lending Club on their continued growth! http://bit.ly/Finovate621

mFoundry featured in NY Times -- (6/1/10 p.B1) Article on card-based loyalty programs moving to mobile. http://nyti.ms/cardloyalty

Zecco's CEO Michael Raneri has been named a winner of IDG's 2010 InfoWorld CTO 25 Award -- Zecco is an online brokerage which offers free stock trades and low-cost options trades. http://bit.ly/FINOVATE621

Alpha Clone investment account service has launched -- A clone is a portfolio of stocks based on the stock idea of one or more fund managers. http://bit.ly/aQcBgu

Bling Nation, mobile payments provider, hires Shan Mehta to lead strategic alliances -- Mehta will also be responsible for maintaining and expanding exiting relationships with service partners. http://bit.ly/Finovate631

MoneyStrands adds cash tracking to application -- Cash tracking is now available for MoneyStrands via Web and mobile app. http://bit.ly/finovate641

Here are the news headlines we posted this week on Twitter (follow our feed here).

Expensify releases version 2.0 of iPhone app for expense reports - The new Expensify app now allows users to add cash expenses and scan receipt images to work off

line. Users can now create an entire expense report from their mobile device. http://bit.ly/b1CAc0


AlphaClone adds new search, percent of portfolio - The AlphaClone percent of portfolio option allows viewers to look at a single stock and see which funds have the greatest exposure within a portfolio. http://bit.ly/dojmhz


Lee Barba and Bruce Shelly join the Kapitall team - Barba joins the Kapitall Board of Directors with experience in acquisitions. He was CEO of Investools. Shelly joins the team as Advisor to Kapitall with experience from the video gaming business. http://bit.ly/a4Augw


Amazon Payments Implements Yodlee Instant Account Verification - Amazon Payments now uses Yodlee's technology to verify user accounts to create faster, safer P2P transactions according to Yodlee. http://bit.ly/9UThEa


Intuit has selected Expensify as a promotion partner for expense

reporting -The Intuit Workplace App Center with Expensify, MyFax, and OfficeDrop. http://bit.ly/dwQiry 


iBearMoney launches the Money 4.1 App - iBear Money's Money 4.1 works on Windows mobile phones, iPhone, iPod Touch and now iPad and allows users to synchronize data between multiple devices. http://bit.ly/atbUPw


BillShrink.com launched a new search for TV, cable, satellite services to search for the best value - Billshrink's new search allows users to compare television service pricing based on their preferred channels or programs and available service based on the user's address. http://tcrn.ch/cujEE8


Fiserv, Inc. study shows that 80% of internet-capable households use online banking while only 40% use online billpay - The Fiserv, Inc. study also shows that women now make up the majority of online bill pay users, a reversal from the 2002 study. http://bit.ly/dtVOFM


Fiserv, Inc. partners with Phone Factor, Inc. to provide phone-based user authentication - The Fiserv, Inc. partnership will allow financial institutions using the Fiserv systems to provide passive or active user authentication via customers' mobile phones. http://bit.ly/bz1tvo


Visa, Inc. and Monitise PLC announced a joint venture to provide mobile payment technology in India - India is the world's second-largest mobile market with nearly 600 mobile-subscriptions. The technology from Monitise will allow for bill-payment, transit ticketing and other services via mobile phone. http://bit.ly/bLFgmI

billshrinkLOGO.jpgA year after first appearing at FinovateStartup (Finovate 2009 video here; FinovateStartup 2009 video here.) , BillShrink.com has doubled in size, now with 22 employees, and more than 450,000 unique visitors per month (see chart below).

 In January 2010, it launched a parallel service for small businesses, to compare business credit cards. And soon it will expand to certificates of deposit and corporate wireless plans. BillShrink believes that its highly personalized vertical searches is increasingly desired by consumers and isn't likely to be replicated by others. The site is sticky, because users can save their search info and preferences and BillShrink will continue looking for a better deal. When one is found, users receive an email, which brings them back to the site.

Unlike traditional search, BillShrink's value-add is calculations based on actual user data. For example, the it considers the user's actual gas mileage and location and then calculates the optimal place to fill the tank. Likewise, BillShrink can compare reward credit cards based on your actual charging history and rewards preferences. The company has not needed to raise any additional capital this year as it continues to roll out a new vertical every few months. BillShrink is targeting all "high wallet personal finance categories" according to Peter Pham, CEO. 

The next vertical rolls out May 26, but Pham was tight-lipped as to what it would be, other than to hint that it would be in the consumer realm. Pham cites the company's belief that users search expectations have grown. He believes that they want something better than Google's mish-mash of results. BillShrink meets those expectations by providing an apples-to-apples comparison tailored precisely to the user, and it doesn't feel like a random advertisement.

BillShrink.com page for business
billshrinkScreenShot.jpg
Traffic chart from Compete.com
BillShrinkChart.jpg


Each month we survey the Web-traffic performance of our alums, using data from Web-analytics company Compete to review the 132 sites they operate. (Our review for the previous month is available here.)

Out of 105 sites with data available (see note 1), 44 (42%) had more than 10,000 unique U.S. visitors in March 2010 (see table #1, below), up from 42 last month. Of the 105, only seven (7%) had fewer visitors than in the previous month and 25 (24%) saw a decline year-over-year.

Notable successes:

  • Mint saw the most unique U.S. visitors in March, with more than 1.6 million hits.
  • Expensify saw impressive month-over-month growth, with more than three times as many visitors.
  • BillShrink and Credit Karma (including its Sears site) both saw traffic double year over year.

While the top six positions remained unchanged between January and February, March brought several changes. Previous monthly leader FiLife has dropped to number five, being replaced at the top by Mint. BillShrink joined the top five for the first time this year, rising from seventh to fourth. Motley Fool CAPS and Digital Insight both rose on the list, while Credit.com and Credit Karma fell one place.

#1. Finovate alumni with more than 10,000 unique U.S. visitors in March 2010

Rank

Previous rank

Company

Unique visitors: March 2010

Unique visitors: March 2009

Change over previous year

Unique visitors: Feb. 2010

Change over previous month

1

2

Mint

1,610,000

1,040,000

55%

1,110,000

45%

2

3

Motley Fool CAPS

837,000

1,290,000

(35%)

769,000

9%

3

4

Digital Insight (Intuit)

580,000

801,000

(28%)

576,000

1%

4

7

BillShrink

479,000

204,000

2.4x

239,000

2.0x

5

1

FiLife (DowJones/IAC)

463,000

336,000

38%

1,530,000

(70%)

6

5

Credit.com

353,000

428,000

(18%)

344,000

3%

7

6

Credit Karma

346,000

207,000

67%

335,000

3%

8

12

Billeo

175,000

202,000

(13%)

101,000

73%

9

8

CashEdge

170,000

345,000

(51%)

162,000

5%

10

11

SimpleTuition

169,000

153,000

10%

133,000

27%

11

9

Prosper

149,000

793,000

(81%)

145,000

3%

12

13

Strands

112,000

34,500

3.3x

97,400

15%

13

19

TradeKing

107,000

115,000

(7%)

78,800

36%

14

14

Outright.com

107,000

49,300

2.2x

96,600

11%

15

15

Andera

104,000

140,000

(26%)

92,800

12%

16

16

Zecco

102,000

123,000

(17%)

89,500

14%

17

18

Quicken Online (Intuit)

101,000

433,000

(77%)

82,800

22%

18

10

Sears Credit Score (Credit Karma)

92,300

N/A

N/A

139,000

(34%)

19

17

Lending Club

89,900

109,000

(18%)

85,700

5%

20

21

Yodlee

81,300

121,000

(33%)

51,100

59%

21

20

Fiserv

66,600

60,100

11%

66,000

1%

22

35

Expensify

63,300

11,200

5.7x

17,800

3.6x

23

25

Sybase 365

54,100

40,700

33%

37,000

46%

24

22

CheckingFinder

50,000

65,600

(24%)

45,800

9%

25

27

SmartyPig

44,400

86,400

(49%)

25,200

76%

26

30

MoneyAisle (NeoSaej)

37,400

66,900

(44%)

22,000

70%

27

23

TrustedID

34,800

55,200

(37%)

45,200

(23%)

28

33

Check Point

32,800

31,300

5%

19,300

70%

29

27

Wesabe

32,500

124,000

(74%)

25,400

28%

30

41

SecondMarket

31,700

4,300

7.4x

11,300

2.8x

31

24

CheckFree

31,500

N/A

N/A

39,600

(20%)

32

34

BrightScope

30,900

14,000

2.2x

19,200

61%

33

36

SocialPicks

27,200

20,100

35%

17,200

58%

34

37

Infosys

24,600

25,400

(3%)

16,500

49%

35

38

CircleUp

21,200

29,400

(28%)

15,000

41%

36

29

Centrro

19,100

51,500

(63%)

22,900

(17%)

37

39

Online Resources

19,100

61,900

(69%)

14,600

31%

38

32

Fidelity National Information Services

17,700

N/A

N/A

20,400

(13%)

39

40

Expensr (Money Strands)

17,500

9,960

76%

13,600

29%

40

43

S1 Enterprise

16,500

6,500

2.5x

7,620

2.2x

41

31

kaChing

15,500

15,800

(2%)

21,100

(27%)

42

45

WeSeed

12,800

56,900

(78%)

7,470

71%

43

59

Rudder

10,500

17,400

(40%)

4,230

2.5x

44

44

Thrive (Lending Tree)

10,100

20,300

(50%)

7,500

35%

Totals:

44 Companies

6,950,000

7,780,000

(11%)

6,800,000

2%

Source: Compete.com, April 15, 2010

#2. Finovate alumni with year-over-year growth of at least 5,000 U.S. visitors

Rank

Company

Unique visitors: March 2010

Unique visitors: March 2009

Increase in number of visitors

Change

1

Mint

1,610,000

1,040,000

570,000

55%

2

BillShrink

479,000

204,000

275,000

2.4x

3

Credit Karma

346,000

207,000

139,000

67%

4

FiLife (DowJones/IAC)

463,000

336,000

127,000

38%

5

Sears Credit Score

92,300

N/A

92,300

N/A

6

Strands

112,000

34,500

77,500

3.3x

7

Outright.com

107,000

49,300

57,700

2.2x

8

Expensify

63,300

11,200

52,100

5.7x

9

SecondMarket

31,700

4,300

27,400

7.4x

10

BrightScope

30,900

14,000

16,900

2.2x

11

SimpleTuition

169,000

153,000

16,000

10%

12

Sybase 365

54,100

40,700

13,400

33%

13

S1 Enterprise

16,500

6,500

10,000

2.5x

14

BancVue (Kasasa)

8,780

N/A

8,780

N/A

15

Expensr (Money Strands)

17,500

9,960

7,540

76%

16

SocialPicks

27,200

20,100

7,100

35%

17

Refinance.com (Home-Account)

7,500

820

6,680

9.2x

18

Portfolio Monkey

7,930

1,380

6,550

5.8x

19

Fiserv

66,600

60,100

6,500

11%

20

The Receivables Exchange

9,150

3,000

6,150

3.0x

Source: Compete.com, April 15, 2010

Notes:

1. We reviewed 132 unique sites. Data was unavailable for 27 sites because they had been acquired, were no longer available online, or had active sites that were not covered by Compete for various reasons, including some that were not U.S. domestic companies.

2. At larger companies we tried to measure traffic to the sub-domain most closely aligned with the Finovate demo, e.g., www.checkfree.fiserv.com. Also, searscreditscore.com, a private-label site supported by Credit Karma, and Money Island, a new BancVue site, have been added to the list.

3. Numbers have been rounded to three significant digits.

4. The charts include companies that did not have measurable traffic in February 2009, indicated by a N/A.

5. Compete draws its information from the online activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic, and may undercount at-work usage.

Alumni News – Week of March 22

Here are the news headlines we posted this week on Twitter (follow it here).

Billeo includes AARP discounts in Offer Assistant - Billeo's Offer Assistant program, which helps online shoppers find discounts and incentive rewards, now includes AARP (American Association of Retired Persons). The association has about 40 million members. http://bit.ly/dtxfzU

BillShrink holds Facebook sweepstakes - BillShrink is giving away an iPad in a sweepstakes to encourage Facebook users to follow the company. The company will also give an iPad to the person who referred the winning user. The contest is similar in structure to a Mint promotion (our story here). Both are being handled by Wildfire. http://bit.ly/b8Vr6M

Bling Nation signs Adirondack Trust Company - The Adirondack Trust Company, located in Saratoga Springs, New York, is offering mobile payments through Bling Nation's system. This is the first East Coast deployment of the payments system. http://bit.ly/8Y0QR2

Bling Nation helping banks and merchants build relationships - According to a report from American Banker, Bling Nation's community-based payments system is building stronger ties between banks and retailers. By providing a payment system between community banks and merchants, Bling can offer lower transaction costs, encouraging merchants to work with local banks. http://bit.ly/9JkfgK

CashEdge provides P2P to Boeing Employees Credit Union - Boeing Employees Credit Union (BECU) is the first credit union in the country to offer CashEdge's POPMoney person-to-person payments service. The service launched on March 20. http://bit.ly/9RPJ2k

Diversinet expands focus on healthcare sector - Diversinet announced at the CTIA Wireless 2010 conference that it would increase its focus on providing mobile solutions to the healthcare market, connecting care providers and payers with healthcare information. The company's new strategy involves introducing new mobile applications, creating custom data portals for care providers, and developing systems to connect mobile devices to medical equipment. http://bit.ly/dcshRf

Fiserv to provide Mobile Money services to SunTrust Banks - SunTrust Banks selected Fiserv's Mobile Money to provide customers with mobile financial services. The Fiserv system will allow SunTrust to offer account access and customer alerts via text messaging and mobile browsers. http://bit.ly/bvvcFY

Lending Club photo contest with up to $2,500 in prizes - Lending Club launched a photo contest to encourage submission of new background images to use in its redesigned website; as many as six winners will take home cash prizes. http://bit.ly/b632aj

Mortgagebot case study: Community Bank - Charmichaels, PA- based Community Bank is using technology from Mortgagebot to open up new business channels and make the mortgage loan process more efficient. A Mortgagebot-produced case study on the bank reported a 68% increase in the volume of closed loans in 2009, compared to its results in 2008. http://bit.ly/9fi0t2

SecondMarket plans presence in Asia -- SecondMarket is preparing to push into Asian markets, where it may eventually employ as many as 150 people. The move into Asia follows $15 million in financing obtained from two Asian investors in February 2010. http://bit.ly/9OcLyQ

Yodlee data aggregation powers new PFM -- Newly launched online PFM In & Out Cash Management has partnered with Yodlee to import transaction data from more than 10,000 U.S. financial institutions. http://bit.ly/ah4nbY

Zopa marks fifth year in business -- Zopa (UK) announced its fifth anniversary in March. To celebrate, the company is running a sweepstakes awarding a 5% loan each day. http://bit.ly/9O5nQu

image BillShrink, which provides money-savings advice to consumers, has expanded its offerings to include a new feature for business owners.

BillShrink offers online tools to help consumers find the best prices on goods and services in markets where comparison shopping can be difficult. The company collects geographic and usage data from the consumer in order to create personal recommendations. BillShrink currently offers price comparison services for cell phone plans, savings accounts/CDs, credit cards, and gas stations. (Finovate 2009 video here; FinovateStartup 2009 video here.)

The company's new BillShrink for Business service helps businesses find better credit card deals. The company currently has online tools in the works for comparing business wireless phone services and savings accounts.

How it Works:

image 1. The business owner goes to the BillShrink for Business site and answers two basic questions: Do you pay off your credit card monthly? And what is the annual revenue of the business?

2. Next, the site collects more detailed data about the card usage, followed by questions about what services the user values in a credit card account. (See screenshot #1, below.)

3. The last personal detail required is an email address.

4. The system presents a quick analysis of the user's current credit card (screenshot #2) and then recommends money-saving alternatives (screenshot #3). Clicking on a link that reads How is this calculated provides additional data, showing the value of cash rewards and other incentives that may come with the new card.

5. At the bottom, there is a link to apply for the recommended card at the card-issuer's site. (Screenshot #3.)

BillShrink is paid by retailers when consumers switch to the suggested products. Offering its comparison-shopping services to businesses expands the company's market, allowing it to draw a new category of shoppers to the site.

According to traffic estimates from Compete, the BillShrink site saw about 150,000 unique visitors in December, slightly less than its median average for 2009. Site usage peaked in summer with about 490,000.

image

Compete.com, January 2010, traffic data here.

#1. BillShrink collects basic usage data

image

#2. Analysis of current credit card (highlight added)

image

#3. Recommendations for a new credit card

image

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