Finovate Alumni News

On Finovate.com

  • PeoplesBank Partners with Gro Solutions to Enhance Mobile and Online Experience.
  • Stash Teams with Green Dot to Become a Challenger Bank.

Around the web

  • Lending Club announces Bahman Koohestani as Chief Technology Officer.
  • Yahoo partners with PayPal to make Braintree available to online sellers using Yahoo Merchant Solutions and Yahoo Stores platforms.
  • Main Street Softworks adds support for Bluefin’s Decryptx PCI-validated P2PE Decryption-as-a-Service.
  • PYMNTS.com features a conversation with Entersekt Chief Commercial Officer Dewald Nolte.

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

Around the web

  • Betterment unveils new multi-plan offering with access to human advisors.
  • Green Dot to acquire UniRush and its prepaid card business, RushCard, for $167 million.
  • Fidor partners with EPAM Systems to gain access to additional product development and software engineering talent.
  • D3 reports record revenue in 2016, up 160% from 2015.

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

  • Behavioral Biometrics Startup Zighra Lands $1 Million in Seed Funding
  • Tuition.io Appoints Former Yahoo CEO Scott Thompson as New CEO

Around the web

  • Commerce Bank chooses Temenos to upgrade core deposit banking system.
  • ThetaRay earns recognition from CIO Review as a top 20 financial services provider for 2016.
  • Financeit reports a doubling of its business since acquiring the home improvement financing assets of TD Bank.
  • Green Dot teams with WalMart to encourage Americans to build savings.
  • Bizfi expands its business lending capabilities through a new partnership with InterNex Capital.
  • OnWallStreet recommends advisers keep their eyes on Wealthfront’s Andy Rachleff; SigFig’s Mike Sha; and Betterment’s Jon Stein.
  • Passport acquires Arizona-based mobile parking payment startup ParkX.
  • P2P lender SocietyOne facilitates $126 million in loans in 2016, finishing a record-breaking year.
  • InComm expands partnership with Target Australia to offer gift cards in stores and online.

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 Alumni News

On Finovate.com

  • WealthForge to Raise $2.5 Million in New Convertible Note Offering

Around the web

  • Green Dot unveils Visa credit card for thin-file consumers.
  • First National Bank of Pennsylvania upgrades its mobile banking and payments platform from Fiserv to enable debit card management.
  • Martech Advisor interviews Radius CEO and co-founder Darian Shirazi.
  • PYMNTS.com talks with Hyperwallet VP Tomas Likar about the challenge of payments in the on-demand workforce. See Hyperwallet at FinDEVr Silicon Valley 2016, October 18 & 19.
  • Radius announces the Radius Customer Exchange (RCX), a solution to advance co-marketing for B2B marketers.

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

  • Dashlane and Google Partner to Improve Online Security via Open YOLO
  • Prosper Closes in on $5 Billion Commitment for New Loans

Around the web

  • FIS and Arkansas Governor Asa Hutchinson extend VC FinTech Accelerator program to 2018.
  • Revolut app tops 250,000 users.
  • Narrative Science launches Solution Provider program.
  • Oprah Winfrey Network names WorthFM founder and CEO Amanda Steinberg to the inaugural Opray Winfrey Network SuperSoul 100.
  • Banking technology interviews Rivi Varghese, CEO of CustomerXPs Software.
  • American Banker: Profits, Revenue Forecast Rise at Green Dot
  • Zopa gives a rundown of its four-year history.

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.

A Look at the First Week of Nasdaq’s Fintech Index

While many of you were busy catching Pikachu last week, you may have missed that Nasdaq, in collaboration with KBW, launched an index to track financial technology. Officially named KBW Nasdaq Financial Technology Index (KFTX), the fund tracks 49 fintech companies, including 17 Finovate and FinDEVr alums.

On Monday, 18 July, the index opened at 1,000 points and closed at almost 1,014 points on Friday, 22 July.

Screen Shot 2016-07-25 at 2.52.11 PM

Finovate and FinDEVr alums listed in the index include:

According to Nasdaq’s press release, the companies in the index “represent roughly one-fifth (18%) of the investable domestic financial universe and nearly 4% of the investable domestic equity universe to account for approximately $785 billion in total market cap.”

It’s worth noting that the index, which will be rebalanced quarterly, does not consider activity from private companies, startups, or banks. Large, public companies may not be as sprightly as two guys in a garage, but they create their fair share of cutting-edge products and services. When creating the index, KBW and Nasdaq adhered to three guidelines:

  1. The companies mainly sell financial services
  2. Not primarily brick-and-mortar operated
  3. Income is generated from fees, rather than interest

Other companies in the index include (each company in the index is weighted equally):

Alliance Data Systems Corp. (ADS); Bankrate Inc. (RATE); Black Knight Financial Services Inc. (BKFS); BofI Holding Inc. (BOFI); Broadridge Financial Solutions Inc. (BR); Cardtronics Inc. (CATM); CBOE Holdings Inc. (CBOE); CME Group Inc. (CME); CoreLogic Inc. (CLGX); Dun & Bradstreet Corp. (DNB); Euronet Worldwide Inc. (EEFT); EverBank Financial Corp. (EVER); EVERTEC Inc. (EVTC); FactSet Research Systems Inc. (FDS); First Data Corp. (FDC); FleetCor Technologies Inc. (FLT); Global Payments Inc. (GPN); Intercontinental Exchange Inc. (ICE); MarketAxess Holdings Inc. (MKTX); Moody’s Corp. (MCO); MSCI Inc. (MSCI); Nasdaq Inc. (NDAQ); S&P Global Inc. (SPGI); SEI Investments Co. (SEIC); Square Inc. (SQ); SS&C Technologies Holdings Inc. (SSNC); Total System Services (TSS); The Western Union Co. (WU); VeriFone Systems Inc. (PAY); Verisk Analytics Inc. (VRSK); Virtu Financial Inc. (VIRT); and WEX Inc. (WEX).

Finovate Alumni News

On Finovate.com

  • “SuiteBox Teams Up with Midwinter to Ease Compliance Burdens for Investment Advisers”
  • “SigFig Partnership with UBS Features Equity Investment, Tools for Wealth Managers”

On FinDEVr.com

  • “PIMCO Selects Markit and KYC.com to Bolster Onboarding”

Around the web

  • PaymentEye interviews Azimo CEO Michael Kent in discussion with Ricky Knox, Tandem CEO.
  • Sberbank introduces fundraising function in mobile application.
  • Guardian Analytics partners with the Norman Group.
  • WePay unveils its white-label mPOS solution.
  • Misys wins awards for its work with Bank of Beijing and Vietnam Technological & Commercial Joint Stock Bank.
  • Green Dot announces plans to divide chairman and CEO roles.
  • Michigan First FCU leverages Insuritas to power Michigan First Insurance Agency for its members.
  • Bleu selected for VC Fintech Accelerator in Little Rock, Arkansas.

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

  • “Fiona Tee Takes the Helm as Currency Cloud’s New CFO”

Around the web

  • Partnership between TransferTo and Barri Financial Group to enable real-time money transfers in El Salvador.
  • Green Dot launches online lending marketplace, Green Dot Money.
  • Technology from Fidor Bank to drive new mobile banking service from Telefonica Germany.

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.

Uber, Green Dot Partner to Help Drivers Get Paid Promptly

GreenDot_homepage_Mar2016

Uber is famous for making payment easy for riders. Now Green Dot is making it just as easy for Uber drivers to get paid.

Courtesy of a new partnership between Uber and Green Dot, Uber Checking by GoBank is a new business checking account that will be available to Uber drivers. Part of Uber’s Instant Pay program kicking off in San Francisco, the new debit card is designed to give drivers more flexibility on when they get paid. Drivers will be able to use the card to cash out their earnings instantly at any time, without having to pay transaction fees or maintain a minimum deposit. The card can be used in stores or to withdraw cash free of charge from 42,000 ATMs around the country.

GreenDot_GoBank_stage_FS2013

Pictured (left to right): Green Dot Chief Product Officer Alok Deshpande, and CEO Steve Streit, founder,  demonstrated GoBank at FinovateSpring 2013 in San Francisco.

David Richter, VP of strategic initiatives for Uber, said the goal was to provide drivers with greater flexibility. “Drivers say that having the flexibility to drive when and where they want is a top reason they choose Uber. Drivers often tell us that they’d like to have the flexibility to decide when to get paid, too.”

Steve Streit, founder and CEO of Green Dot, added, “The partnership marries technology, banking, and payments in an innovative way to give Uber driver-partners the flexibility to receive their pay instantly, and also provides an alternative to traditional banking.”

Founded in 1999, Green Dot launched GoBank in beta in January 2013, and demonstrated the technology at FinovateSpring 2013. The company’s products and services are available through its “branchless bank” distribution network of more than 100,000 retailers, financial service centers, and tax-preparation services throughout the United States, including through app stores and online tax-prep providers. Green Dot is headquartered in Pasadena, California.

Finovate Alumni News

On Finovate.com

  • “Uber, Green Dot Partner to Help Drivers Get Paid Promptly”

On FinDEVr.com

  • “Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process”

Around the web

  • Western Independent Bankers (WIB) picks Bizfi as its exclusive premier alternative finance solution provider.
  • Coinbase adds stop orders to its Coinbase Exchange platform.
  • Markit unveils new tax utility service.
  • Eris Industries chooses Ledger as its blockchain hardware security partner.
  • Medium.com features Klarna and Qapital in a look at building a startup “the Swedish way.”
  • SuiteBox listed among fintechs that are developing tools to help superannuation funds.
  • Envestnet wins the 2016 Technology Innovation Award from the Bank Insurance and Securities Association (BISA).
  • Pakistan’s Soneri Bank selects T24 core banking system from Temenos.

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.