Finovate Alumni News

On Finovate.com

  • Behalf Teams Up with FinWise Bank to Boost Small Business Lending Options
  • Samsung to Power Biometric Authentication Pilot for Bank of America
  • ACH Alert’s Fraud Prevention HQ Empowers Account Holders to Stop Suspicious Transactions

Around the web

  • PayPal unveils two new innovation labs in India.
  • Albany, New York-based SEFCU chooses Fiserv as technology partner.
  • FICO selects Amazon Web Services as its cloud provider.
  • SF Chronicle profiles mortgagetech innovator, Unison, in feature on downpayment assistance for Bay Area homebuyers. Join them next month in New York for FinovateFall.
  • GoBankingRates highlights AutoGravity, M1 Finance, Venmo, Mint in list of best personal finance apps
  • ID.me hires Julie Filion as Chief Marketing Officer.
  • eMoney Advisor moving into Rhode Island offices, expects to hire 100 by 2020.
  • Flywire Offers Summertime Deal for International Tuition Payments with Mastercard.
  • StreetShares adds Heather Tuason as new Chief Product 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

  • HooYu Brings Identity Confirmation Technology to BCRemit.
  • StreetShares Raises $10.3 Million for “Shark Tank Meets eBay” Approach to P2P Lending.
  • Flywire Expands Operations in Japan, Forms Partnership with Volvo.

Around the web

  • UPS Capital launches cross-border B2B payment service powered by Payoneer.
  • Risk Ident opens new U.S. office at Cambridge Innovation Center, near Boston, Massachusetts.
  • Venmo introduces QR code feature to help users find payee profiles faster.
  • eMoney launches redesigned website with a new UX enhanced navigation and multimedia content.
  • Digiliti Money (formerly Cachet Financial Solutions) appoints interim CEO.
  • Qapital now offers checking account and debit card.
  • BBVA joins Singapore-based trade finance platform Capital and Credit Risk Manager
  • Al Masraf selects Temenos’ digital banking technology
  • Kony announces V8 release of Kony AppPlatform to help developers design, develop and deliver omnichannel apps fast.
  • Shoeboxed launches Fetch, a new expense system
  • Trusona opens new office in Tokyo, Japan.

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

  • Lendio’s Marketplace surpasses $500 Million in Loans.
  • Worldpay Ships New Features for Worldpay Total
  • Braintree Tops A Billion Transactions Per Quarter Mark

Around the web

  • Temenos Marketplace now hosts Moroku’s Chore Scout.
  • TransferWise links with Apple Pay globally.
  • Vasco names Scott Clements president and CEO.

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

  • defiSOLUTIONS Hires Keven Sticher as Chief Information Officer.
  • NCR at Center of Swiss ATM Harmonization Initiative

Around the web

  • CREALOGIX wins The Goodacre Systems in the City Award for 2017.
  • Business Insider profiles Brian Barnes, founder of M1 Finance.
  • Fujitsu begins selling SaaS lending and leasing technology developed by Cloud Lending Solutions.
  • TSYS extends commercial payments agreement with Germany’s Degussa Bank.
  • The Entrust Group announces new integration with eMoney Advisor.
  • Global Debt Registry finishes trial of secure, permissioned blockchain proof of concept.

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

  • Trusona Launches #NoPasswords for Salesforce.

Around the web

  • Expensify launches ScanSnap Integration in the U.K.
  • eMoney wins “Best Wealth Management Platform” Award.
  • Flywire (fka peerTransfer) teams with Cashnet to improve global payments for schools, students, and families.

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.

Top Business-to-Business Wealth Tech Players

wealthtech4

If you’ve been following our series on wealth tech, you’ve seen our analysis of the industry as a whole, a review of the top trends, and an examination of B2C wealth tech players.

Our wealth tech coverage continues this week with a review of business-to-business (B2B) players in the wealth tech space. These are companies that cater directly to banks, advisors, or brokerages, instead of offering products or services directly to consumers. B2B wealth tech is a large category, so I’ve sub-divided it into four digestible groups and listed my top picks for each category. Since category sizes vary, the number of selections also varies.

Alternative investment services
These are platforms that help advisors connect clients with unconventional investment types, such as private equity, hedge funds, futures, real estate, etc.

Screen Shot 2017-01-19 at 11.44.57 AMEquityZen’s EZ Institutional lets advisors give clients access to a diverse asset class

Technology for advisors and brokerages
These are tools available via API, SDK, or web interface to help advisors compete with robo advisors by allowing them to invest with less bias, increase client communication, scale operations, find new clients, and more.

Screen Shot 2017-01-19 at 11.40.41 AMTrizic offers advisors their own digital tools to compete with robo advisors

Non-U.S. B2B investment and advisor technology
Similar to the above category, these companies offer tools for advisors outside of the U.S.

Screen Shot 2017-01-19 at 11.30.52 AMmeetInvest helps advisors invest like world-renowned market experts

News and Information Companies
These are online platforms, APIs, or SaaS offerings that provide advisors market information, show them trending news, or connect businesses with market data to power their own products.

Screen-Shot-2016-10-31-at-3.22.22-PMForwardLane’s dashboard acts like a private research analyst for advisors advisors, helping them stay current on new trends and funds

Roots Rock: eMoney Advisor Reports Breakout Revenue Metrics for 2016

emoneyadvisor_homepage_december2016

How did 2016 become the “most successful year to date” for wealth management platform developer, eMoney Advisor? According to CEO Ed O’Brien, it was all about getting back to basics.

“This year we returned to our roots with an innovative product strategy that broadens the availability and quality of advice delivered through advisors,” O’Brien explained. This week O’Brien’s company announced record growth in 2016 including a more than 30% increase in revenue since the end of 2015, and a nearly 59% gain in revenue since eMoney Advisor was acquired by Fidelity Investments in early 2015.

Some of the 2016 highlights for eMoney Advisor include:

  • Released more than 80 updates and enhancements to its emX Suite
  • Unveiled a new advanced analytics product
  • Launched the Fiduciary Framework initiative

“For this past year in particular, we worked hard to implement a strategy that creates more opportunity for advisers to experience the value of eMoney and benefit from the unique and varied ways our technology can set them apart,” said O’Brien.

emoneyadvisor_stage_ff14

From left: Chad Porche, SVP, head of design, and Kyle Wharton, SVP, business development, demonstrated EMX, the eMoney Advisor platform, at FinovateFall 2014.

Recently featured in our look at top trends in Wealth Tech, eMoney Advisor serves wealth management firms who have concluded that it is easier and more efficient to partner with an established specialist rather than “go it alone” when it comes to providing their wealth managers with the technology they need to best serve their clients. “Firms are realizing the cost to build and maintain the type of streamlined, technology-enabled experience required to compete today is prohibitively high,” O’Brien said. Adding that companies must be mindful of technology expenses as well, he points out that the solution “in the long-term” is a balancing act. “It’s about a technology partner, not a technology provider,” he said.

Founded in 2000 and headquartered in Conshohocken, Pennsylvania, eMoney Advisor demonstrated its platform at FinovateFall 2014. Earlier this year, the company announced a partnership with Waddell & Reed Advisors that will make emX Pro platform available to the firm’s network of more than 1,800 financial advisers. A winner at the 2016 Wealth Management Awards this fall, and one of the best places to work in Philadelphia according to the Philadelphia Business Journal, eMoney Advisor also shared a preview of what it has in store for 2017. New products and services from the company include a digital advice platform, developed in partnership with Fidelity, a new lead-generation solution, a “robust API strategy,” and a service for 401(k) plan participants. The company says it plans to add 100 new workers by the end of 2017 to help accommodate growth.

Finovate Alumni News

On Finovate.com

  • “Roots Rock: eMoney Advisor Reports Breakout Revenue Metrics for 2016″
  • Check out this week’s “FinDEVr APIntelligence”
  • Nubank Raises $80 Million in Series D Funding”
  • “Finovate Debuts: Agreement Express Helps Advisers Offer Non-Intrusive Onboarding”

Around the web

  • Nostrum CFO Neil Warman re-elected to Confederation of British Industry (CBI) regional board.
  • Qumram wins 2016 Private Banking International (PBI) award for Outstanding Front-End Digital Solutions Provider.
  • Ovum recognizes Backbase as digital banking platform market leader.
  • Comarch partners with TrustWeaver to make e-invoicing cross-border compliant.
  • True Potential listed in the Deloitte Technology Fast 500 EMEA for the fourth consecutive year.
  • Fundable profiles DAVO’s funding since its 2011 launch and its milestone of 800 clients.
  • Orca Money interviews Scalable Capital CEO Adam French.
  • Luxoft wins Best Enterprise Systems Integrator in Constellation Research’s 2016 Enterprise Awards.
  • Zopa takes home two awards at the AltFi Awards and wins Best P2P Lending Platform at the F5 Awards.
  • InComm partners with MOL Global to launch PlayStation Network prepaid products to be distributed through 7-Eleven stores in Indonesia.

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.

Finovate Alums Earn Recognition at 2016 Wealth Management Awards

wealthmanagementawards2016

Three Finovate alums won their respective categories at the 2016 Wealth Management Awards. Envestnet was the big winner among our alums to be honored, winning a variety of categories: 401(k) Retirement Plan Support Services; Socially Responsible Investing (SRI)/Impact Investing; TAMPs; and Rebalancing. eMoney Advisor won the Client Portals and Innovation Platform categories, and Betterment for Business won the 401(k) Retirement Plan Support Services Technology category.

For Envestnet, the award comes just days after announcing its new collaboration with Charlotte, North Envestnet-Yodlee Logo copyCarolina’s Innovation Partners, who will use financial wellness solutions from Envestnet | Yodlee to enhance its wealth-management services. Elaine Lawrence, president and co-chief compliance officer for Innovation Partners, said the technology would help her firm “engage with clients according to their preferences, while also stepping in to demonstrate value as necessary.” Founded in 1999 and headquartered in Chicago (Envestnet) and Redwood City (Envestnet | Yodlee), Envestnet demonstrated its technology at FinovateFall 2016.

eMoneyAdvisor_logoBased in Conshohocken, Pennsylvania, with an office in San Diego, California, eMoney Advisor was named one of the Best Places to Work in Philadelphia by the Philadelphia Business Journal and one of the Best Places to Work in San Diego by the San Diego Business Journal. More than 37,000 financial professionals use the eMoney Advisor platform to manage more than $1.7 trillion in assets. At FinovateFall 2014, the company demonstrated EMX, the next generation of its eMoney Advisor platform. eMoney Advisor was founded by Edmond Walters in 2000. Edward O’Brien took the helm as CEO in 2016.

Demonstrating the Multiple Goals Feature of its platform at FinovateFall 2011, Betterment made headlines this summer when it announced it has topped $5 billion in assets under management and added Amy Betterment_logoShapero as CFO. This spring, Betterment raised $100 million in Series E funding, taking the company’s total capital to more than $200 million and giving it a valuation of $700 million. Last month, Betterment announced a partnership with Uber that would provide fee-free, flexible retirement accounts for the company’s drivers. And in July, the robo-adviser announced that its 401(k) platform, Betterment for Business, topped 200 plan sponsors. Jon Stein is CEO.

Finovate Alumni News

On Finovate.com

  • Envestnet | Yodlee, eMoney Advisor, and Betterment Earn Recognition at 2016 Wealth Management Awards

Around the web

  • Qapital featured in a list of the “5 best productivity apps for freelancers.”
  • Let’s Talk Payments profiles Finovate Best of Show winner BanQu.
  • LendingTree named a top workplace by The Charlotte Observer.
  • Actiance Launches Safe Landing Program for Autonomy Customers.
  • Xero Announces Improved Integration with PayPal.

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.