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Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete.
Out of 268 alumni, 80 had more than 10,000 unique U.S. visitors in September 2011 and are included in the tables below. Of those, 33 (41%) had more visitors in September than August. Year-over-year, 42 (52%) had traffic increases.
Private Companies
- Seeking Alpha and Cortera had the highest traffic in September with 2.1 and 2.0 million unique visitors, respectively. Cortera also had the highest increase in number of unique year-over-year visits with over 1.5 more visits in 2011 than in 2010.
- Kabbage had the highest percentage growth year-over-year, up 280x.
- Weemba saw the highest monthly growth percentage with more than 7.5 times the number of unique visitors in September compared to August.
- SmartCredit.com had the highest increase in number of unique year-over-year visitors, growing by 126,000.
 Source: Compete.com retrieved the week of October 26, 2011
1) The previous month recorded was August 2011 2) Sears Credit Score is powered by CreditKarma.com 3) Truaxis was formerly BillShrink 4) Kasasa is powered by BancVue
Public companies
- CheckFree had the highest percentage growth year-over-year, with over 7 times the number of visitors this year than last year.
- Intuit had a notable increase in number of unique, year-over-year visitors, increasing by 300,000 visits.
- Check Point had the highest month-over-month percent growth, with 41% more visitors in September than in August.
 Source: Compete.com retrieved the week of October 26, 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.
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.
Source: Compete.com retrieved week of October 3, 2011 1) The previous month recorded was July 2011
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.
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.
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.
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.
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.
On June 29, Fiserv agreed to acquire CashEdge. Here are some quick facts about the acquisition.
- The deal is expected to be complete by September 2011.
 - The all-cash $465 million purchase price is more than six times CashEdge's projected 2011 revenues of $75 million.
- Fiserv's last large acquisition was CheckFree for $4.4 billion in 2007, which was 4.5 times its expected revenue. In comparison, Jack Henry & Associates' $300 million purchase of iPay Technologies last year was 5.5 times iPay's revenue.
 - The expected consolidation of CashEdge's Popmoney P2P transfer service (200 signed clients) and Fiserv's ZashPay (700 signed clients) will create a stronger competitor to bank-owned clearXchange.
More Information
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 
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
 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.
 AlphaClone AlphaClone launched a new feature that measures sentiment. Link
BillFLO Taulia acquired BillFLO. Link
Bills.com  Bills.com shared money-saving strategies for recent college graduates. Link
BrightScope BrightScope was highlighted on the Tuscon NBC news channel series, "4 Your Money." Link
CashEdge Ally Bank began offering CashEdge's Popmoney service. Link
Continuity Control  LEVERAGE, the Service Corporation for the League of Southeastern Credit Unions, began offering Continuity Control's CreditUnion Assistant program. Link
CreditKarma Credit Karma introduced its Approval Odds service to help avoid being declined for a card. Link
Currensee Currensee reached $6 billion in trading volume and $12 million under management. Link
doxo The MakeUseOf blog reviewed doxo's online filing cabinet. Link
Dwolla - Dwolla CEO commented on the Bitcoin virtual currency debate, exchange, and hysteria. Link
- Dwolla's fees were compared to PayPal's. Link
- Silicon Prairie News discussed Dwolla CEO's comments on Bitcoin. Link
eWise eWise Payo's smartphone app won the Editor's Award for Consumer Focus at the 2011 Cards International Awards. Link
Expensify  - The Dallas News highlighted Expensify. Link
- Expensify was listed as one of 25 tools to help you manage spending by cmvlive.com Link
HelloWallet HelloWallet posted a short video series explaining its wealth-tracking service. Link
Jwaala  KEMBA Financial Credit Union implemented Jwaala's platform. Link
Lending Club - Lending Club is approaching its financial breakeven point. Link
- Reuters commented on Lending Club's P2P marketplace. Link
Lendio Lendio helped banks increase business loans by finding qualified borrowers. Link
Mortgagebot  Mortgagebot and Business Solutions extended their Tech Alliance to provide mortgage application solutions at preferred terms. Link
PayNearMe PayNearMe facilitated 7-Eleven's partnership with Greyhound for cash transactions. Link
Prosper Reuters commented on Prosper's P2P marketplace. Link
Receivables Exchange  The Receivables Exchange won 2011 "Management Team of the Year" at the Stevie Awards. Link
Strands Strands Personal Finance landed in the 2011 Red Herring Top 100 North America list. Link
TradeKing TradeKing announced its free webinar series on trading advice beginning July 12th. Link
Voice Commerce  Voice Commerce launched its CashFlows app. Link
Xero Getapp.com reviewed Xero's cloud-based software. Link
Backbase  Backbase will provide TCS Bank in Russia with a website integration solution through Bank 2.0 Portal. Link
Bill.com Bill.com rolled out Sage Peachtree Sync, software for controlling bill payment and management. Link
BrightScope BrightScope released its second annual list of the Atlanta-based companies with the best 401k plans. Link
CashEdge CashEdge expanded Popmoney service by adding Popmoney for Prepaid. It also announced a partnership with TxVia. Link 
Check Point Software Technologies Check Point was listed on Acadian Asset Management's Top 15 Buys list. Link
Cortera Cortera announced a new version of its PULSE app, a customer monitoring service. The new version will add Growth Clues alert. Link
DebtGoal
 DebtGoal hired Igor Vaks, former Experian CIO, as new COO. Link
eToro eToro emerged as the preferred platform for building forex wealth through web trading. Link
Expensify Expensify advertised on giant billboard in the Bay Area. Link
Fiserv  Fiserv announced improvements to its Relationship Rewards. Link
ID Analytics CoreLogic partnered with ID Analytics to integrate ID Network with LoanSafe Fraud Manager. Link
ID Analytics will host Advance 2011, its 9th Consumer Risk Management Conference, this September. Link
IP Commerce IP Commerce recently raised another round of funding. Link Lending Club issued a record high of $17.5M loans in April. It is the 4th record month in the past 5. Link
Lending Club won Webby Award for the Banking/ Bill Paying category. Link
Mint Mint won Webby Awards for the Financial Services category. Link
MoneyAisle MoneyAisle launched live auctions for unsecured personal loans to help consumers across a wide range of credit scores. Link
PayNearMe  PayNearMe raised $16M in funding from new and current investors. Link
Plastyc Plastyc won a patent for improved online payment methods. Link Prosper Prosper increased loan volume by more than 50% compared to 3 months ago, issuing over $5M in new loans in April. Link
Yodlee Yodlee is looking into developing mobile apps with new "FinApp Store" strategy. Link
On April 27, Prosper gave 200 new lenders $104 to get started. The company is celebrating the news that prosper lenders are averaging 10.4% returns. http://bit.ly/finovate426111
Bank Innovations highlights six companies as noteworthy to see at Finovate Spring on May 10th & 11th in San Francisco. http://bit.ly/kqBr39
Bill.com releases site upgrade. The upgrade, made over the Easter weekend, includes improved calendar, a revised mobile application, receivables managements and online payments and more. http://bit.ly/finovate427113
Mengia signs with Icelandic banks, Arion and Landsbanki. Mengia will provide PFM services to both banks, which will provide 90% of Icelandic banking customers with access to an integrated PFM platform. http://bit.ly/finovate427112
Wescom Resources Group offers Geezeo PFM to clients. Wescom will be rolling out Geezeo as a complement to the Credit Union's existing online banking platform. http://bit.ly/finovate425112
Xero releases Xero Touch, its new app built on HTML5 that will run on iPhone, Android, Windows7 and Blackberry. http://bit.ly/eLPrdA
To view our alumni news updates in real time, follow us on Twitter.
Bill Harris and Mark Goines join the Pageonce Advisory Board. Harris was formerly CEO of Intuit and of PayPal, and Goines was formerly a senior executive at Intuit and Charles Schwab. http://prn.to/finovate322111
Bill.com named to the JMP Securities "Hot 100." The list includes the 100 best privately held software companies for 2011 according to the investment bank. http://bit.ly/finovate38113
BillShrink adds Anil Arora, Yodlee president and CEO, to its board of directors. The announcement comes just after the launch of "Statement Rewards" from BillShrink. http://bit.ly/finovate322112
Boku moves from virtual-goods billing to real-goods billing in Germany. Now real goods can be added to wireless bills thanks to Boku's technology. http://bit.ly/finovate324112
eToro launches "Trade Story." This social platform helps traders learn the strategies behind other users' trades. http://bit.ly/hQNDGc
To see Finovate alumni company news in real-time, follow our feed on Twitter here.
Cardlytics and NetSpend partner to bring reward offers to the underbanked. The partnership will create opportunities for targeted offers to reach users of prepaid debit cards. http://bit.ly/finovate28112
CashEdge and NYCE join forces to provide person to person payment technology. Popmoney will now be available to 3,000 NYCE financial institution clients. http://bit.ly/finovate211112
SmartyPig.com adds sixty new online retailer cash-back partners, and six more gift card partners. Expedia, Hotels.com, Cabela's and Babies R Us are included in this latest offering. http://bit.ly/finovate131113
To see Finovate alumni company news in real-time, follow our feed on Twitter here.
Blippy has been nominated for a Crunchie award. -- The awards, given in a number of startup categories, are a joint effort by three tech blogs: TechCrunch. VentureBeat and GigaOM. http://tcrn.ch/finovate113114
Firstmark Credit Union selects Geezeo for PFM platform. -- The credit union, with 90,000 members with $700 million in assets, will use Geezeo's white label platform . http://bit.ly/finovate1101
Jwaala offers free trials of the Better Online Banking (BOB) platform for credit unions. -- The trial platform can be launched within two days of the request and allows prospective clients to see all of the available features. http://bit.ly/finovate113113
Kabbage raises an additional $6.5 million to support its loan business targeted to eBay and other online sellers. -- This round was led by BlueRun Ventures and UPS Strategic Enterprise Fund. http://tcrn.ch/finovate113111
Plastyc and eBillMe launch a new banking system for self-employed users. -- The platform allows users to receive clients' electronic payments directly. http://bit.ly/finovate112112
SafetyPay signs deal with Brazil's Banrisul. -- This will allow Banrisul Bank's three million customers to make purchases in their own currency by way of SafetyPay's service. http://bit.ly/finovate111111
SmartyPig launches its first iPhone app. -- Users can add to their savings, manage goals and even contribute to another user's goal. The app also includes a location-based tool to find participating merchants. An Android app is planned for February. http://bit.ly/finovate110112
Tyfone receives a fourth patent for mobile e-wallet technology. -- This newest patent, is entitled, "Asymmetric cryptography with user authentication." http://bit.ly/finovate112111
The Mii card, powered by Yodlee, becomes a digital passport for online authentication. -- See the Mii card in Action at FinovateEurope. http://www.miicard.com/
To see Finovate news updates in real-time, follow our feed on Twitter. Backbase explores mobile banking in its fall webinar series. http://bit.ly/finovate1293 BlazeMobile creates smart payments sticker.http://bit.ly/finovate12133 BrightScope releases top 30 retirement plans. http://bit.ly/finovate12143 Capital Access special report on "Black Friday" and small business sales data. http://bit.ly/finovate1282 SunTrust has added the "Transfer Now" product suite from CashEdge including person-to-person and me-to-me transfers. http://bit.ly/finovate12165 ClairMail and Cardlytics partner to provide transaction marketing opportunities. http://bit.ly/finovate1281 Expensify is hiring for multiple positions. - The company is currently looking for Web developers and computer engineers at several levels. http://bit.ly/finovate1216 FIS launches innovative new mobile banking product. -- Users can establish mobile account management with their debit card, no online banking signup needed. http://bit.ly/finovate1291 Geezeo selected by University Federal Credit Union as PFM provider. http://bit.ly/finovate12151 GoalMine hosting cash contest via Facebook to spread the word. http://bit.ly/finovate1292 Kapitall closes series A funding round. -- The company did not release funding amounts or sources. http://bit.ly/finovate12163
Congratulations to Mint founder, Aaron Patzer, winner of a TechFellow Award for General Management. http://tcrn.ch/finovate1296 Mozo powering new "Compare, Ditch and Switch" campaign. -- The services allows Australians to shop around for better banking services. http://bit.ly/finovate1283 Just in time for the Holidays, PopMoney gift cards at www.giftcardmall.com. SmartyPig launches cash rewards card with only a one-time activation fee of $4.95. http://bit.ly/finovate12134 Victrio receives $5 million investment for voice-printing technology. http://bit.ly/finovate12141
FIS launches innovative new mobile banking product. -- Users can establish mobile account management with their debit card, no online banking signup needed. http://bit.ly/finovate1291
Y Combinator and Yodlee cooperate to provide financial data services to startups.
From PayPal X Conference: Bling Nation launches "FanConnect" platform. FanConnect helps consumers and businesses to connect at checkout via social media platforms like Facebook. http://bit.ly/finovate10272
Ixaris partners with Apigee to create payment application development API platform. -- The new platform will be named Ixaris Opn (pronounced "open"). http://bit.ly/finovate1121
Mint.com launches MintData to delve into the spending habits of Mint's 4 million users. The data is anonymous and provides insight into the pocketbooks of customers in 300 U.S. cities. http://tcrn.ch/finovate1122
Here are the news updates for the past week. To view our updates in real-time, follow us on Twitter here.
Centrro is changing focus, no longer providing credit scores. It will instead focus on helping users understand and improve their credit. http://j.mp/finovate1065
Sybase 365 adds Western Union certification. Western Union services will now be included in the mobile wallet systems provided by the company. Western Union has 380,000 agent locations in 200 countries. http://j.mp/finovate1091
Here are the news updates for the past week. To view our updates in real-time, follow us on Twitter here.
Acculynk partners with JetPay for Internet PIN debit. New system PaySecure allows users to enter their PINs without using the keyboard, providing additional security. Merchants can use the system without changing credit card processors. http://bit.ly/finovate9211
Outright.com launched site improvements including the ability to edit multiple transactions at once, and added support for Harvest, the time-tracking platform. Outright has also added a subscribe option on help boards. http://bit.ly/finovate9236
 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!
 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.
 CashEdge debuted Popmoney at FinovateFall 2009 ( see video here) with expectations of four banks signing by year-end.
The service allows users to send money with no more information than the recipient's mobile phone number or email address. We spotted the first active Popmoney service at First Hawaiian Bank in December 2009 ( Netbanker, December 2009).
The next month, several more financial institutions followed ( Finovate, January 2010), including PNC and First National Bank of Omaha (FNBO). Now Popmoney is available at about 170 financial institutions, including Boeing Employees Credit Union (BECU), Patelco Credit Union, and Bank of the West.  (Image credit: BECU)
According to Catherine Palmeri, global head of product and marketing at CashEdge, "We expect that more than 200 financial institutions will have launched Popmoney by the end of Q3, 2010." She adds that U.S. Bank and two other top-ten banks will be adding Popmoney soon. Those three institutions account for more than 10% of all current online banking customers.
Financial instutions view Popmoney as a value-added service for online and mobile banking customers. Many financial institutions also see Popmoney as an additional revenue stream, with fees ranging from $0 to $3 per transfer and "rush" transfer fees up to $10.
CashEdge's 2009 survey revealed that 81% of consumers would use a person-to-person payment service if their bank offered it. Palmieri said users have been eager to adopt, and have sent $50 million (USD) via Popmoney so far this year. CashEdge's Popmoney service is an example of another great innovation from a Finovate alumni company.
Do you know of an interesting innovation from a Finovate presenter that we should consider profiling here? If so, please email us at blog@finovate.com.
Here are our news updates for the week of July 25, 2010. To get our updates real-time, follow us here.
CashEdge's
AllData Aggregation, and Lodo's OurCashFlow powers new capabilities
for Jack Henry & Associates. The arrangement will power online financial management (OFM) tools. http://bit.ly/finovate7301
Fiserv has announced that 150 credit unions now use their Mobile Money product. Mobile Money allows financial institutions' customers to check balances, pay bills, and make transfers from their mobile devices. http://bit.ly/finovate7256
Dominion Credit Union selects Geezeo as PFM platform Dominion CU serves over 21,000 members. Geezeo is providing personal financial management technology to credit union members. http://bit.ly/finovate72801
Picatinny Credit Union selects Geezeo as PFM Platform. Picatinny is the eighth largest credit union in New Jersey, serving 16,000 members. http://bit.ly/finovate7282 Kapitall gains $5 Million in angel funding. Investors include board members. Kapitall expects to close a $5 Million series-A round within six months. http://bit.ly/finovate7271
New from Kapitall: track and trade with TD AMERITRADE. Now within the Kapitall platform, users can track, trade and buy/sell stocks, mutual funds and ETFs. http://bit.ly/finovate7276
With Kasasa, Ocean Pacific Credit Union offers banking incentives via iTunes credit. Opening an account credits your iTunes account with $19.95, and additional $4.95 each month thereafter. (Better than a toaster!) http://bit.ly/finovate7275
Lending Club named a top 250 "Always On" Company. Winners will all be announced at the Summit at Stanford in Palo Alto, California, from July 27-29. The conference represents companies recognized by Always On as private companies with the highest growth potential. http://bit.ly/finovate272
SecondMarket announced as the overall winner of the Always On Technology competition. Winners will all be announced at the Summit at Stanford in Palo Alto, California, from July 27-29. The conference represents companies recognized by Always On as private companies with the highest growth potential. http://bit.ly/finovate7252
Here are our news updates for the week of July 11, 2010. To get our updates real-time, follow us here.
Acculynk's pin debit software powers the PULSE home debit pin pad technology. The PULSE technology will allow financial institutions to issue bank-branded home pin pads to consumers for online purchases. http://bit.ly/finovate7151
Blippy can now import purchase receipts direct from your Gmail inbox. Don't worry, you'll still get to approve them before they post to the world. http://bit.ly/finovate7162
California State Teachers' Retirement System (CalSTRS) selects BrightScope to analyze teachers portfolios. BrightScope's "On Target Index" will be used to benchmark portfolios in this optional retirement plan for Calif. teachers. http://yhoo.it/finovate7142
Cortera releases study showing businesses are experiencing better cash-flow. Businesses are being paid nearly one week faster, the fastest in two years. http://bit.ly/finovate7131
Kasasa has full-page ad on the back of this month's issue of ICBA's Independent Banker
OnPoint Community Credit Union finds that Tyfone mobile adoption has grown much faster than expected. Monthly enrollment of mobile banking grows an average 20% per month. http://bit.ly/finovate7111
Powered by Jwaala, Michigan First Credit Union now includes Twitter direct messages as a "mobile alert" option. Members can receive account alerts via Twitter DM, email and text: 31% of members are active users of the mobile alerts system. http://bit.ly/finovate7144
 Seven Finovate alums have received awards recognizing their innovations in the banking and finance
industry, and we'd like to take a moment to congratulate each of
them.
Bank Technology News "Innovators
of the Year"
Bank Technology News recently released
it's ninth annual list of Innovators. This year, of the 20 honored,
four are recent Finovate alums: Intuit, Backbase, Segmint and
CashEdge. For more information see the American Banker Article. Segmint was honored for its pioneering work helping banks get better at one-on-one marketing, Backbase for online
banking widgets, Intuit for online banking and tax-preparation, and
CashEdge for its new POPmoney P2P payment service.
The coveted "Webby"
The "Webby" award, established in
1996, has been called by the New York Times,the highest honor that
the Internet has to offer. Honorees are selected in nearly seventy
categories. Following are this year's winners in the financial
services categories:
For more about the
Webby Award, see http://www.webbyawards.com/.
Finovate demo video links:
Backbase--Backbase's Finovate
debut was the Spring 2010 show (video coming soon).
CashEdge--The POPmoney demo
video from Finovate2009 is online here.
Intuit--View the company's
Finovate video demo (fall 2009) online here.
Mint--You can see its first
demo video here.
MoneyStrands--View its video
demo from Finovate 2009 online here.
Segmint-- Segmint first
demonstrated its services at FinovateSpring 2010 and the video can be
seen online here.
Wonga--Wonga's Finovate debut
was the FinovateStartup2009 conference. Video is not available.
Here are the news headlines we posted this week on Twitter (follow it here).
Acculynk Introduces Program for Independent Sales Organizations - Acculynk, which provides online PIN debit payment services, introduced PaySecure Plus, a new program that expands the company's services to include Independent Sales Organizations. http://bit.ly/bV5xgA
BancVue Launches MoneyIsland.com - BancVue launched MoneyIsland.com, a teaser site for its financial literacy game that becomes available to community financial institutions in September 2010. MoneyIsland 1.0 is an expansion of the beta CentsCity game, which BancVue picked up in its recent acquisition of Skill-Life. http://bit.ly/bY7WFf
Boulevard R Partners with Financial Planning Association - Boulevard R has partnered with Financial Planning Association to offer its finance management software to consumers on FPA's website. http://bit.ly/aSCwKS
CashEdge Appoints Global Head of Product & Marketing - CashEdge appointed Catherine Palmieri to Global Head of Product and Marketing. Prior to joining CashEdge, she served as Executive Vice President, General Manager, for Citibank, overseeing Citibank.com, Citibank Direct, and CitiMobile. http://bit.ly/azYw56
Centrro Launches Mortgage Product Beta - Centrro launched the beta version of its new product, Centrro Leads, which helps connect mortgage brokers to consumers based on credit profiles. http://bit.ly/bGgZBE
iPay Technologies Joins High Impact Portfolio - iPay Technologies joined the High Impact Portfolio, a public/private partnership of between Louisville Metro Government and Greater Louisville Inc.'s ENTERPRISECORP designed to support Louisville, KY businesses. iPay was named as one leading top-growth companies in the Louisville metro area. http://bit.ly/bpW2GC
Kasasa Signs its First Virginia Member - Kasasa signed its first financial institution in Virginia, Northern Star Credit Union. The credit union will offer three new products, Kasasa Cash, Kasasa Saver, and Kasasa Giving. http://bit.ly/dmLGKV
Lending Club Offers Cash Bonus to Members - In an email to its members, Lending Club offered its members cash bonuses on new deposits in an invitation-only rewards program. Lending Club will provide a bonus of 1% to funds over $2,500 and 1.5% to funds of $15,000 or more. www.lendingclub.com
Monitise Enters Joint Venture in Asia - Monitise has signed a 50/50 joint venture agreement with First Eastern Investment Group to develop services in the Asia Pacific region. First Eastern is based in Hong Kong. http://bit.ly/9TcpCF
Monitise Americas Publishes White Paper - Monitise Americas has published a white paper examining the adoption of mobile services as a strategic option for financial institutions. The paper includes a case study following H&R Block. http://bit.ly/9llGRW
Zecco Releases New Web Tools - Zecco launched two new browser-based tools, Zecco Streamer and Zecco Streamer Lite, which provide traders with real-time market data. The Lite version is free, while the standard version, which covers more stock exchanges and offers email alerts, has a monthly fee. http://bit.ly/bt9wb4
And news from our soon-to-be alumni presenting at FinovateSpring 2010:
Bill.com wins Monarch Innovation Award -- Bill.com has been recognized with a 2010 Monarch Innovation Award from Barlow Research Associates. The company received an honorable mention in the Industry Partner category. Bill.com was one of only six companies awarded this year. http://bit.ly/bCCati
Kabbage Loans to eBay Users - Kabbage is offering short-term business loans to eBay sellers. The company will evaluate sellers based on eBay ratings, whether they have an eBay Store, and funds flowing through their PayPal and merchant credit card accounts. http://bit.ly/bcOd9c
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
BancVue announces results for Kasasa - Since its launch in May 2009, Kasasa has produced 71% lift in new account acquisition at its member banks and credit unions, says parent company BancVue. Of these new accounts, 53% represented new customers to the financial institutions. http://bit.ly/9zbvae
CashEdge cuts fraud by $140 Million - CashEdge announced that it has prevented an estimated $140 million in client fraud losses in 2009 through its risk-management services. The dollar amount is derived from the total value of potentially fraudulent transactions detected and prevented by CashEdge's risk-monitoring services. http://bit.ly/aoyaaZ
ClairMail announces new Mobile Connectivity Architecture platform - ClairMail's new platform for financial institutions will allow institutions to offer mobile banking services including real-time transactions and account management. http://bit.ly/9SjpK7
Digital Insight changes name - Digital Insight has rebranded as Intuit Financial Services. The company was acquired by Intuit in 2007. http://bit.ly/9jM4QB
Expensify celebrates first anniversary - During Expensify's first year, it raised $1 million, came out of beta, launched in the Google Apps Marketplace, and integrated with Outright.com, Salesforce, and Intuit. http://bit.ly/asZr1z
Kapitall demos at Apple Store - Kapitall will preview the beta version of its online investing platform on March 24, in the San Francisco Apple Store. CEO Gaspard de Dreuzy will present the product. http://bit.ly/a4i4Oh
Kasasa adds SMW Federal Credit Union - SMW Federal Credit Union is the first financial institution in Minnesota to offer Kasasa brand checking accounts. SMWFCU offers three of Kasasa's four products - Kasasa Cash, Kasasa Tunes, and Kasasa Giving. http://bit.ly/bKvXFC
Lending Club reaches milestones - Lending Club issued its 10,000th loan, surpassing $95 million in loans issued. The company also exceeded $1 billion in loan applications. http://bit.ly/dmC9VK
Mint.com wins Web award at SXSW Conference 2010 - Mint won the "Classic" category at the SXSW Conference Web Awards. While the SXSW awards generally note the best new Internet destinations, the Classic Award honors sites that have been in operation for more than a year. http://bit.ly/dDyP5t
ThreatMetrix launches Fraud Network - ThreatMetrix launched Fraud Network, a suite of tools for e-commerce, financial services, and information-technology companies. Fraud Network provides tools for verifying new accounts, authorizing payments and transactions, and authorizing user logins. http://bit.ly/b26pLo
ThreatMetrix partners with Verifi - ThreatMetrix is partnering with Verifi to deliver its fraud detection and risk-assessment tools to merchants through Verifi's payment risk-management system. Verifi provides global electronic payment solutions for card-not-present retailers. http://bit.ly/bGcqW3
TradeKing earns 4-star rating from Barron's - Online broker TradeKing was awarded a four-star rating in Barron's 15th annual Best Online Brokers survey. TradeKing ranked sixth overall out of 22 firms evaluated. This is the fourth consecutive year that TradeKing has received four stars (out of a possible five) from the survey. http://bit.ly/9Zz1cF
TradeKing launches trading-info site - TradeKing launched OptionsPlaybook.com, a free online resource for beginning and advanced options traders. The site includes jargon definitions, a brief history of the options market, and more than 40 options strategies. http://bit.ly/9Gxda7
Tyfone partners with First Data - Tyfone is partnering with First Data to provide SideTap micro secure digital (MicroSD) memory cards. The cards can contain financial information and secure identification from multiple sources such as retailers and financial institutions, creating a virtual wallet. http://bit.ly/byoHJH
Yodlee to host webinar - Yodlee is hosting a free webinar on conversion strategies for bill payment systems on March 23. The webinar will focus on changing bill payment systems without disrupting users. http://bit.ly/aslHQG
ZimpleMoney offers Starbucks card - ZimpleMoney sent a promotional message to its members, offering a $25 Starbucks card if a loan is initiated. The loan must be accepted by March 31 to qualify. www.zimplemoney.com
Here are the news headlines we posted this week on Twitter (follow it here).
AlphaClone to Launch Investment Accounts -- Investment research firm AlphaClone announced that it plans to offer managed account services later this year. http://bit.ly/ayOI5t
BrightScope Partners with Acceleration Retirement -- BrightScope announced a partnership with Acceleration Retirement, a provider of marketing and lead-generation services to retirement plan advisors. The deal combines BrightScope's data and analytical tools with Acceleration's marketing and practice-management experience. http://bit.ly/c780Zs
CashEdge to Support HelloWallet -- CashEdge will provide financial data aggregation for new PFM website HelloWallet. CashEdge draws data from bank accounts, investments, retirement accounts, insurance plans, credit cards, mortgages and annuities. http://bit.ly/9xjRqD (Netbanker coverage of HelloWallet here.)
Check Point Wins Award from SC Magazine -- Security software firm Check Point was recognized with a Reader Trust Award from SC Magazine for its Security Gateway R7, which took the award for Best Enterprise Firewall. This is the sixth time SC Magazine has given Check Point an award for achievement in information technology and security. http://bit.ly/doRu4B
Expensify Offers App on Google Apps Marketplace -- Expensify announced that its small-business expense management app is now available on Google Apps Marketplace, Google's recently launched storefront for online products and services. The Expensify app enables users to import expense data from their credit cards, manage receipts online, and create expense reports. http://bit.ly/cYjDLq
Four Finovate Alumni in Panel Discussion at SXSW - Credit Karma, Lending Club, Mint, and SmartyPig will discuss banking industry innovation at the SXSW conference on March 13 in Austin, Texas. The panel discussion will include Rob Garcia, Senior Director of Product Strategy for LendingClub.com; Aaron Forth, VP of Product at Mint.com; Kenneth Lin, CEO of CreditKarma.com; and Bob Weinschenk CEO of SmartyPig.com. http://bit.ly/dbuYuR
GreenSherpa Upgrades -- GreenSherpa announced several upgrades to its web-based application, including changes to user collaboration and integration features, cash flow projection capabilities, and the graphical user interface. http://bit.ly/alnZeW
New Funding and Board Member for Home-Account -- Bills.com has doubled its financial investment in Home-Account. In addition, Mark Goines, a former director of Mint and a former Intuit executive, has joined Home-Accounts Board of Directors. Goines also made an unspecified angel investment in Home-Account. http://bit.ly/aJGuzs
Intuit Offers Payroll Suite on Google Marketplace -- Intuit is offering its Online Payroll suite of web applications on Google's new Apps Marketplace. Intuit also intends to make the payroll solution available through its own Intuit App Center. http://bit.ly/9dsR19
iPay Technologies Partners with Q2ebanking -- iPay Technologies and Q2ebanking announced a new alliance that will allow iPay to offer its bill payment solutions to Q2's customers. Q2 provides financial services technologies to community financial institutions. http://bit.ly/9T6CQ9
Tom Burgess Joins Micronotes' Advisory Board -- Tom Burgess, the founder and CEO of Third Screen Media, has joined the advisory board of online marketing company Micronotes. Burgess will serve as a marketing practices advisor. Third Screen Media was a wireless advertising company that was acquired by AOL in 2007. http://bit.ly/bUEd7Q
mFoundry Receives Paybefore Award -- mFoundry won the Best Virtual Prepaid Card category in Prepaid Media's fourth annual Paybefore Awards. mFoundry was recognized for its work on Starbucks Mobile, which allows consumers to use mobile devices to track activity on Starbucks cards. http://bit.ly/doCsP4 (Netbanker blog on Starbucks Mobile here.)
Mozo Launches Program for Students - Australian financial comparison company Mozo has launched a new service called the Student Room. The program helps university students find deals on banking services, including special offers designed for students. http://bit.ly/dBsgMu
S1 acquires PM Systems -- On March 4, S1 completed acquisition of PM Systems for $29 million. PM Systems provides internet banking, bill payment, and security solutions for credit unions. S1 announced the acquisition in its statement of its fourth quarter results. http://bit.ly/aF2Jvz
The Receivables Exchange Reports Sales Growth -- The Receivables Exchange, an online marketplace for receivables trading, reported 100% quarter-over-quarter growth in receivables sold in Q4 2009. http://bit.ly/asQqNm
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
Here are the news headlines we posted recently on our Finovate Twitter feed (follow it here).
Acculynk and EFT Networks Establish Advisory Council -- Acculynk and partner EFT Networks have established the Internet PIN Advisory Council. The council brings together members of EFT's business network, including ACCEL/Exchange, Alaska Option, Credit Union 24, PULSE and SHAZAM. The function of the council is to establish the processes, procedures, rules and best PIN practices for PaySecure, Acculynk's software service for online debit payments. http://bit.ly/cxlCLv
CashEdge Launches Integration Kit - CashEdge has launched a new Integration Kit, making it easier for financial planning, customer relationship management, and portfolio management application providers to simplify the addition of aggregation services into their applications. http://bit.ly/9aSYKv
Credit.com in Money Magazine's Top 20 Websites & Fast Company's Top 10 Most Innovative Companies -- Credit.com has been listed at #7 among Money Magazine's top 20 best money websites. Other companies on the list include Mint.com, BillShrink, and Morningstar. Credit.com has also been included in Fast Company's Top 10 Most Innovative Companies list, where it ranks #7 in the finance category. http://bit.ly/cPzRT6
Mint.com Offers New Support Forum -- PFM Mint.com is implementing a new user support forum, supported by San Francisco company Get Satisfaction. The forum provides a support resource for Mint's nearly 2 million users. http://bit.ly/bg2FYW
Online Resources Launches iPhone App for PeoplesBank -- Online Resources launched a new iPhone app that provides mobile banking services to customers of PeoplesBank. The Massachusetts bank has $1.5 billion in assets and has been a client of Online Resources since 1999. http://bit.ly/bckTX3
SecondMarket Secures Second Round of Venture Capital -- SecondMarket, which provides a market for illiquid assets, has received $15 million in its second round of venture capital. The funding was provided by Hong Kong-based Li Ka-shing Foundation and Singapore-based Temasek Holdings (through its Dunearn Investments subsidiary). Each invested $7.5 million. http://bit.ly/bclL0J
SeerGate and Integrated Banking Technology Introduce Online Banking System -- SeerGate and Integrated Banking Technology have joined to launch SeerGate's Secured Lock System, a secure platform for real-time online banking transactions. IBT will include the Secured Lock platform among the outsourced service offerings it provides to financial institutions in the US and Canada. http://bit.ly/97bzXu
Sparkroom Partners with eBureau -- Sparkroom has announced a partnership with eBureau, a provider of information services for online marketers. The companies will work together to provide technology solutions to help advertisers and lead generators manage online consumer leads. http://bit.ly/c2Woj7
ThreatMetrix Partners with CyberSource -- Online fraud prevention company ThreatMetrix has partnered with CyberSource to provide advanced device identification systems for fraud detection. CyberSource provides more than 200 fraud detection tests and services, while ThreatMetrix offers systems for digitally profiling devices and their online behaviors. http://bit.ly/9w3SXH
Yodlee Officially Opens FinApp Store -- Yodlee has opened its FinApp Store, a platform where certified developers can create financial apps and distribute them to users of Yodlee-based PFM products. The FinApp Store supports both free and pay applications. Yodlee is also making its Software Development Kit available to FinApp Store developers, allowing them to work with the Yodlee data infrastructure. Yodlee demoed the store at Finovate2009. http://bit.ly/cWolZR
 CashEdge, one of the largest established providers of online funds transfer services to financial institutions in the United States (including Bank of America, Citibank, Boeing Employee's Credit Union, and Wachovia), recently announced that a major new financial institution, FNBO Direct, went live with its new POPMoney service on January 18.
FNBO Direct, a division of First National Bank of Omaha, is the third bank to offer the POPmoney program. The first two banks, First Hawaiian Bank and PNC, launched the service in December 2009. (See our Nebtbanker blog post here.)
The addition of FNBO is a significant coup for CashEdge. First National Bank of Omaha is a subsidiary of First National of Nebraska, the largest privately owned banking company in the United States. First National of Nebraska has more than 6.6 million customers and about $20 billion in managed assets. Signing up a major new bank should nicely expand POPMoney's user base, adding visibility and credibility to the program.
First National Bank of Omaha has incorporated POPMoney into its FNBO Direct line of online banking products. The service is available on the FNBO Direct site under the Online BillPay Account link (see screenshot below).
In order to educate consumers in the new mobile payment technology, FNBO Direct presents a branded website describing the POPMoney process, as shown below. The POPMoney service also provides FNBO Direct with a revenue opportunity, allowing the bank to collect transaction fees from users. (See highlighted section below.)
FNBO Direct charges $2.00 for standard three-day delivery and $10.00 for express next-day transfer service. How bank customers react to these fees will depend on how they want to use the service. While the fees seem reasonable for emergencies or large purchases, they may deter customers from using POPMoney for smaller transactions.
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