Finovate Alumni News

On Finovate.com

  • Behavioral Biometrics Specialist BioCatch Raises $30 Million in New Funding.
  • Gro Solutions Partners with 4Front CU, NBKC to Ease Onboarding, Support National Rollout.

Around the web

  • Nordic digital lender Folkefinans chooses Mambu’s SaaS core banking engine.
  • BBVA Compass opens up its Express Personal Loan solution to both customers and non-customers.
  • American Banker highlights Kasasa. Come see Kasasa’s latest tech at FinovateSpring in May.
  • OurCrowd expands global operations, opens office in London.
  • Authy’s Twilio launches Flex, a programmable contact center.
  • Ohio Healthcare FCU selects Digital Onboarding to maximize member engagement rates.

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.

Finovate Alumni News

On Finovate.com

  • Where is Banking Prime?
  • Currencycloud Collects $25 Million in New Funding.

Around the web

  • Blackhawk Network launches same-day rebate reward fulfillment.
  • BancVue’s John Waupsh discusses book, Bankruption, on this BankNXT podcast.
  • Idea Bank’s Tax Care accounting network builds bookkeeping app for Uber drivers.
  • Urban FT offers users faster prepaid wireless service top-ups via partnership with T-Cetra.
  • BBVA Compass unveils BBVA Momentum, a seven-month accelerator for socially-minded entrepreneurs.

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.

Finovate Alumni News

On Finovate.com

  • Women on the Finovate Stage.

On FinDEVr.com

  • Check out this week’s FinDEVr APIntelligence.

Around the web

  • mBank partners with Cloudera to handle its big data processing.
  • Careington Health Products leverages SmartCART platform from Insuritas to deploy advisor services and discount programs.
  • BBVA Compass adds cash-back incentive to stimulate interest in mobile banking app.
  • Fiserv launches Credit Sense, combining credit monitoring with digital banking.
  • Kontomatik nominated at the Dutch FinTech Awards 2017.
  • PayPal partners with Oro ecommerce platform.
  • Arxan Application Protection named Best IoT product at the 2017 Cybersecurity Excellence Awards.
  • Zopa wins Top Consumer Lending Platform at LendIt awards.
  • Pindrop to mitigate call center fraud for Credit union service organization PSCU.
  • Motif jumps on the robo advisor bandwagon.
  • Tradeshift to acquire Capgemini’s IBX Business Network.
  • Linqto and Western Independent Bankers Launch New Apps Store for Banks.

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.

Finovate Alumni News

On Finovate.com

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

Around the web

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

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “mCASH Pivots to AUKA, Launches Mobile Payments Services Across Europe”

Around the web

  • IBM launches quantum computing as a cloud service. See IBM demo next week at FinovateSpring.
  • CGI Group adds Ripple Connect to its Intelligent Gateway at Payments.
  • Bluefin Payment Systems integrates Visa Data Secure Platform into its portfolio.
  • BBVA Compass cardholders gain access to Android Pay and Samsung Pay.
  • “GreenKey Appoints Richard Garnier Chief Revenue Officer”

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.

Finovate Alumni News

On Finovate.com

  • “Pamela Joseph Tapped as New President, COO at TSYS
  • “Wells Fargo to Deploy Biometric Authentication Technology from EyeVerify

Around the web

  • PYMNTS reports: Worldpay transactions up 14% post-IPO.
  • Mitek launches mobile deposit in the United Kingdom with other countries to follow.
  • Dwolla’s Jordan Lampe contributes TechCrunch article about the state of faster payments in the United States.
  • Fiserv adds new features to its Unified Wealth Platform.
  • Jack Henry’s ProfitStars division unveils its ECS RDC conversion technology.
  • Betterment to extend account aggregation to all its customers.
  • BBVA Compass introduces Sandra Lee as brand ambassador to its BrightFutures platform.
  • Zooz reports that Gett, an on-demand taxi service, now routes global transactions through its 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.

Finovate Alumni News

On Finovate.com

  • “IDology Announces “Significant,” Strategic Equity Investment in Payfone
  • “Worldpay Goes Public; Shares Rally on Trading Debut”

Around the web

  • Fastacash announces strategic investment in Myanmar-focused, MyPAY.
  • American Banker interviews CEO Manolo Sanchez, BBVA Compass.
  • Persistent Systems announces technology partnership with Municipal Corporation.
  • Independent.IE features CurrencyFair, Expensify, and PayPal in a review of 20 PFM apps.
  • Fox Business interviews Blooom President Greg Smith on the future of 401(k) plans.
  • Silicon Review lists SnoopWall as 1 of 20 fastest growing security companies.
  • The Hindu features Cloud Lending Solutions’ co-founder Snehal Fulzele.
  • Interactions wins bronze Stevie Award in the Most Innovative Tech Company of the Year category. This is its fourth consecutive Stevie Award.
  • Slush.org interviews Kristo Kaarmann, TransferWise co-founder.
  • The Culture Trip highlights Kantox in its review of successful Barcelona startups.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Marketing Minute: Optimizing Emails for the Small Screen

Recent email marketing research found that two-thirds of Americans regularly check email via smartphone and a significant number of total opens (as high as 70%) are now opened on a mobile device. Since most emails that look good on mobile look fine on a desktop (but NOT vice versa), you can pretty much disregard the desktop when creating a design template for your email alerts and marketing messages.

Here’s a few examples from my inbox during the past few weeks. Both Capital One and BBVA’s Simple use appropriate font size and a good mobile layout. Simple does an especially good job at grabbing attention with a small animation at the top of the message. In comparison, the BankDirect pitch is not well optimized for mobile, though it’s readable if you work at it. But it does nothing to grab your attention visually.

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Bank email samples (viewed on iPhone 6)

First: Business Savings account promo from Capital One
Easy to read opening line and big Open Now buttons on first screen and below the fold

Second: BankDirect to American AAdvantage mileage club members
Harder to read the small type, and call-to-action is below the fold

Third: Simple announces its 100%-no-fee policy change
Grabs attention with small animated graphic at top with big “Hi FirstName” visible on first screen. The remainder of message is in a font easily read on a mobile phone:

capitalone_email bankdirect_americanair_email simple_email2

Finovate Alumni News

On Finovate.com

  • “Realty Mogul Builds $35 Million in New Funding”
  • “Fastacash Secures $15 Million in Series B Investment”
  • “Fenergo Raises $75 Million from Insight Venture Partners”

Around the web

  • InComm adds new brands to its Incentives e-commerce site, including vacation brands.
  • Green Dot opens subsidiary in Shanghai.
  • Citizens 1st National Bank introduces mobile remote deposit capture with integration of Malauzai SmartApp, Ensenta mRDC.
  • Liz Loewy, senior vice president for EverSafe, spoke about elder financial abuse at White House Conference on Aging.
  • Arxan Technologies partners with Sequent to develop new security solution to protect HCE-based payment systems.
  • Five Degrees appoints Peter-Jan van de Venn as new chief commercial officer.
  • BBVA Group inks strategic agreement with the Alliance for Financial Inclusion.
  • Business Insider names executives of Braintree, PayPal, Coinbase, and Venmo as 5 of 10 execs who are transforming the fintech industry.
  • Kotak Securities and Heckyl launch real-time news and market-info apps.
  • Cachet Financial Solutions to deploy Select Mobile Money platform for SOLE Financial’s Visa Paycard.
  • MyOrder teams up with WirecardGroup to issue contactless mobile cards using HCE technology.
  • Algomi wins “FinTech Innovation of the Year” honors at 2015 Euromoney Global Awards for Excellence.
  • Wealthfront lowers its minimum investment to $500.
  • Bank Innovation takes a look at how startups like SizeUp help banks work better with small businesses.
  • Authentication specialist BioCatch earns a pair of patents from the U.S. Patent Office.

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.

Yodlee Brings “Sense” to Forward-Looking Bank Balances

yodlee_sense_lowbalFor several years I’ve used the forward-looking balance feature from Simple’s “Safe to Spend” and Key Bank’s MyControlBanking as a great example of where banking/PFM is headed (see notes 1, 2, 3). But this seemingly vital PFM feature has not been adopted by other major players.

My hypothesis is that banks are (rightly) afraid of the cost (customer service, litigation, fines, CFPB backlash) if it doesn’t work perfectly. The false positive problem is especially daunting (note 3). You tell customers they are good to go and then Monday morning you bounce two of their checks collecting $70 in OD fees.

Enter Yodlee’s version of the forward-looking balance summary, Sense. The service made its industry debut at FinovateSpring last month (video here and below). With 15 years’ experience providing mega-banks with data aggregation and PFM services, it may have the necessary credibility to power forward-looking banking features for its client banks.

Bottom line: Regardless of where the algorithms are sourced, I hope banks come to their senses soon, and offer seamless money-management guidance.

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Yodlee Sense demo at FinovateSpring 2015 (13 May)

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Notes:
1. U.K.’s stealthy banking startup Mongo appears to be working on a similar function.
2. Simple was acquired by BBVA Compass in 2014 for $117 million.
3. Moven provides a compelling alternative-spending feedback/prediction system which is less likely to produce false positives. The neo-bank startup constantly compares your spending velocity with historical trends, to provide a real-time green-light/red-light indicator when you are headed towards overspending (see its FinovateSpring Best of Show 2015 demo here). For extra credit, the Moven app makes it easy to lock away the extra cash saved in the lower spending months.