Finovate Alumni News– April 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinovateSpring 2014 Sneak Peek: Part 6 is now up.
  • Jumio partners with IdentityMind to provide anti-money-laundering Bitcoin compliance for exchanges.
  • FIS launches GenNOW to make it easier for mobile and prepaid card users to access their funds from FIs.
  • Aon Hewitt and HelloWallet partner to help employers bring financial wellness to their workforce.
  • PayPal partners with Samsung to enable users to pay with their fingerprint, launches app for smartwatches.
  • Blackhawk Network recognized for Best Prepaid Innovation at Innovation Project 2014 conference awards.
  • CU Times looks at Citizens Business Bank’s success with Guardian Analytics’ fraud prevention tools.
  • App Developer Magazine looks at Lighter Capital’s RevenueLoan.
  • Birdback and Affiliate Window bring the ease of online offers to offline retailers based in Europe.
  • Betterment’s mobile app makes mobile PIN login available for users.
  • Bill.com wins Monarch Innovation Award in Innovative Industry Partner category.
  • BizJournals profiles Kabbage co-founder and COO, Kathryn Petralia.
  • American Express Open Forum takes a look at ZenPayroll. See them demo at FinovateSpring in San Jose.
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– April 8, 2014

  • Finovate-F-Logo.jpgPYMNTS: Shopkeep POS undergoes latest revision and releases 2.0 version.
  • Jumio partners with Equifax to make mobile transactions more secure.
  • Leaf launches Payments Apps Marketplace.
  • Dallas Business Journal names defiSOLUTIONS CEO Stephanie Alsbrooks one of its 40 Under 40. See defiSOLUTIONS demo at FinovateSpring in San Jose.
  • Bloomberg column on apps for financial health features Level Money, Check, Mint, LearnVest, and Betterment.
  • Level Money earns spot on Entrepreneur.com’s “5 Must-Watch San Francisco Tech Startups in 2014”.
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.

Jumio Partners with Equifax to Make Mobile Transactions More Secure

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There may be better ways to encourage cart abandonment than requiring customers to fill out forms in order to complete online transactions. But I doubt it. And if the consumer is on a mobile phone or tablet, the problem is even worse.

To this end, Equifax has teamed up with fellow Finovate alum Jumio to provide a set of solutions that will make it easier for mobile device users to safely and securely auto-fill information on their devices.

Two of Jumio’s technologies – Netverify and Netswipe – will be integrated with Equifax’s 1-Touch Services and Mobile Wallet. The 1-Touch integration will enable auto-fill of personally identifiable data. The integration with the Mobile Wallet will allow users to either scan their cards with their smartphone or complete the transaction in person at the point-of-sale with their smartphone.

The partnership was driven at least in part by Jumio’s research, it seems. The company’s Mobile Consumer Insights Study found in 2013 that nearly 47% of consumers blamed their cart abandonment on the inconvenience of entering personal data into forms on mobile devices.
Jumio was founded in 2010. Based in Palo, Alto, California, the company specializes in credentials management that is geared both toward minimizing fraud and reducing friction for consumers. Daniel Mattes is founder and CEO.
Equifax became a Finovate alum as a presenter at FinovateFall 2011 in New York. The company’s B2C unit, Personal Solutions, demoed Equifax Complete, a credit score monitoring and fraud alert solution accessible via the company’s mobile app.
Last on the Finovate stage in February (FinovateEurope 2014), Jumio is among the companies that will be demoing its technology at the upcoming FinovateSpring show in San Jose, California, April 29 and 30. For more information on how to see Jumio’s demo live and in person, visit our FinovateSpring 2014 page.

FinovateSpring 2014 Sneak Peek: Part 3

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This week’s sneak peek of FinovateSpring 2014 features everything from account opening to loan underwriting, and is just a small selection of items we’ll see in San Jose on April 29 and 30. Get your ticket here to satisfy your fintech hunger.

If you missed the two installments from last week, you can catch them here:


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CREALOGIX, the Swiss market leader for digital banking and e-learning platforms, presents its comprehensive digital banking suite with a seamlessly integrated e-learning management system.
Features:
    • Provides contextual compliance where needed
    • Supports client advisors and enhances quality of advice 
    • Enables effortless learning combined with rewards (gamification)
Why it’s great:
The CREALOGIX digital banking suite with integrated e-learning management system offers clear added value for both sides: banks and their clients.  
Presenters:
Geraldine Critchley, Head Product Marketing

Critchley is responsible for mastering the digital mindset of the next generation online banking and dealing with all inbound/outbound marketing activities concerning digital banking.
LinkedIn

Ivan Inderbitzin, Senior E-Learning Author
Inderbitzin writes innovative online staff trainings for financial, medical and other industries. He taught at universities in Australia and likes asking questions.
LinkedIn


D3 Banking is a single solution that delivers a LodoSoftwareD3Logo.jpg

comprehensive set of digital banking services to any digital device replacing disparate online and mobile point solutions.
Features:
    • Omnichannel – one solution for any digital channel
    • Innovative money movement – contextual user experience, least cost routing
    • Powerful customer data analytics for personalized marketing
Why it’s great:
D3 Banking is an omnichannel, data driven, digital solution that lowers cost, decreases complexity and personalizes the customer experience.  

Presenters:
Mark Vipond, CEO
Vipond has been in the FinTech industry for almost 30 years beginning his career as a systems engineer at IBM and most recently serving as president and COO of ACI Worldwide.
Kevin O’Kane, CPO
O’Kane has 25 years experience in the industry including serving as Director, Professional Services at Harland Financial Solutions.

EndeavourLogo

Endeavour and Zoot’s mobile account opening solution meets consumers’ evolving expectations and banks’ complex fraud and risk management requirements.

Features:

    • Beautiful mobile interface, intuitive customer experience
    • Secure, compliant, & robust ID verification & risk management
    • Business user web portal to manage any feature with no app-store redeployment
Why it’s great: 
Endeavour has partnered with Zoot to deliver the most sophisticated mobile account opening solution in the industry.  
Presenters:
Steven Staley
Staley is a Consulting Executive, Entrepreneur, and Business Owner with 10+ years in the banking Industry. He oversees Endeavour’s Banking Practice and Global Strategic Alliances while smiling daily.
Tom Johnson, VP of Strategic Alliances at Zoot 
With over 30 years of experience in technology, Johnson is Zoot’s “Chief Idea Guy”; responsible for developing new partnerships and solutions concepts.
LinkedIn

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Jumio is a next-generation payments and ID software-as-a-service company that utilizes proprietary computer vision technology to reduce mobile payment friction and ID fraud.

Features:
    • Turns customer’s mobile device into an ID scanner
    • Personal data is populated into forms in seconds
    • Increases your sign-up and shopping cart completion rates  
Presenters:
Michael Orlando, Chief Sales Officer
Orlando heads up Jumio’s worldwide sales and business development efforts and brings over 20 years of high-growth company experience to this role.
Anthony Lanham, Senior Vice President, Sales
Lanham started his career with Dun and Bradstreet. He spent 10 years at D&B companies in several sales and sales management roles. In 2001 while at D&B RMS he pioneered the idea of outsourced credit.

VisibleEquitySmall

Visible Equity provides innovative and easy-to-use software that helps financial institutions analyze the risks and opportunities in their lending data.

Features:
    • Uses advanced modeling to estimate race/gender
    • Calculates expected pricing, denial rates, etc. using multiple variables 
    • Provides easy to interpret indicators of likeliness of disparate impact 
Why it’s great:
It’s unlikely a financial institution ever knowingly discriminates, but now proving you are treating all borrowers fairly can be as simple as clicking a button.  

Presenters:
Matthew Court, VP of Sales & Marketing 
Court oversees all sales, marketing, and corporate communications.
David Gilbert, COO 
Gilbert is at the forefront of marketing, business development, and new product research.
LinkedIn


Stay tuned later this week when we’ll feature six more companies.

Finovate Alumni News– March 27, 2014

  • Finovate-F-Logo.jpgTSYS partners with Virgin Money to provide consumer credit processing services for UK customers.
  • Cachet Financial Solutions appoints Darin McAreavey as EVP and CFO.
  • Prosper to cross the $1 billion mark in personal loans originated through its platform next week, hosts giveaway.
  • Tech Zulu interviews Trustev after the company’s win at SXSW Accelerator.
  • Jumio to help form Identity Security Network with eight leading Bitcoin exchanges.
  • InComm’s corporate B2B store enables retailers to streamline management of corporate gift card sales.
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 — March 26, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgProfitStars’ Gladiator ranks #36 in MSPmentor’s top 501 managed service providers.
  • Kofax Mobile Capture platform wins “Elegant Implementation” category of Housing-Wire magazine’s HW TECH 100.
  • Online TV host Doug Sleeter interviews Xero CEO, Rod Drury.
  • Jumio wins 2014 METAward in “established” category.
  • miiCard bringing its ID verification technology to eMerchantPay.
  • WTOP News asks: is the credit card with keypad from Dynamics is the “card of the future”?
  • MasterCard selects Anna Yip as head of Hong Kong and Macau.
  • Digital Insight to expand online banking portfolio to include shared access and small business payments. Come see Digital Insight demo at FinovateSpring next month.
  • Kraken, the digital currency exchange platform used by Fidor Bank, raises $5 million.
  • ZipZap pauses UK cash-to-bitcoin transfers through its platform.
  • Boku partners with sunhill technologies to enable direct global carrier billing for sunhill’s services.
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.

FinovateEurope: Behind the Scenes with Luxoft, Topicus Finan, and Jumio

Here’s a look at another set of companies who showed off their new technology at FinovateEurope in London last month.

If you missed the previous behind-the-scenes features, you can check them out below:


LuxoftLuxoftLogo.jpg

What they do

With its mobile tablet app, iStockTrack, Luxoft aims to give premium bank clients a single, powerful tool to compare stocks, monitor their wealth, do daily banking activities, keep up with industry news, and more.

Stats
    • 7,000+ employees
    • 19 offices worldwide
    • 130+ clients
    • 300+ successful projects
    • Public company NYSE: LXFT

The experience
The screenshot below, which captures the user experience on the iPad, illustrates the client view of their net worth in the Banking tab. The top of the screen details the user’s individual accounts, while the graph in the middle shows a visual representation of the user’s net worth over time and projected future net worth.

Near the bottom, the user has access to tools such as a calculator, a video chat connection to their advisor, and an ATM locator. The user can customize these to their individual preferences.

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This screenshot shows the user’s Favorites section that breaks down an individual stock (in this case, Google). It includes a comprehensive view of the stock, including data, a written business summary, and the ability to compare it with other stocks.

Also noteworthy is the Analyst Consensus section in the bottom right corner, which advises the user on the option to buy, sell, or hold a stock.

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The screenshot below shows stock indices along the top, along with relevant events on the bottom right, and news on the left. Written news releases are located along the left side, and are complemented with videos on the bottom help to further inform the user on their trading decisions.

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Luxoft can bring iStockTrack to any banking client within 4-6 weeks.The app can be re-skinned to match the branding preferences of any financial institution. 

Luxoft has been around for 14 years and provides a host of other financial solutions.

Check out Luxoft’s live demo from FinovateEurope here.


Topicus Finan

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What they do

Among Topicus Finan’s many different solutions is its self-serve small business lending product, which it demoed at FinovateEurope. This product-as-a-service provides entrepreneurs with an easy-to-understand view of their business financials along with tools such as what-if analyses to determine the financial impact of possible decisions.

Simultaneously, the lending institution is given full visibility into the business owner’s financials and decisions, and even informs them when the entrepreneur is seeking additional capital.

Stats
    • 52 full time employees and growing
    • Turnover in 2013 was €4.1 million
The experience

The below screenshot illustrates the entrepreneur’s view of their small business finances. In this case, after the client logs on via their tablet’s web browser, they see an advisory graph that shows the assessment rating that the business receives on 6 different pillars: Capital, Liquidity, Return on capital, Revenues development, Payment behavior, and Payment credit charges.

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The entrepreneur can also view graphs of their solvency rate, gross profit margin, and net cash. Additionally, they have the ability to see how each of these metrics will change with different scenarios such as purchasing equipment or adjusting labor.

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The financial institution is given a full view of the small business’ finances. In this case, the business owner tested a what-if scenario about financing a new piece of machinery, and realized he did not have the cash flow to make it happen.

Afterwards, the loan officer was alerted that the client needed additional capital to purchase the new piece of machinery. At this point, the loan officer can easily view the actual business metrics to help make the decision about how much capital to offer.

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Topicus Finan counts ING as one of its largest customers. The Dutch bank uses Topicus Finan’s software worldwide.

Check out Topicus Finan’s live demo video from FinovateEurope here.


JumioLogo.jpg

What they do

Jumio’s Fastfill speeds up a bank’s customer acquisition process by extracting data on a customer’s ID document. After scanning an ID such as a passport or driver’s license just once, the new client no longer needs to bother with filling out multiple fields on a form.

Stats

    • Raised $37 million, $25 of which was from Andreessen Horowitz 
    • PCI 1 Certified 
The experience

To open an account, the user is faced with the following 12-field form. In order to expedite the process and decrease friction, the user is presented with the option to scan their ID.


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The user scans their ID document, just as they would a check during a remote deposit capture process. Acceptable documentation includes a drivers license, passport, or government-issued ID.

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The screenshot below shows what the form looks like after it has extracted the information from the ID.

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Jumio also offers two other products that use its imaging technology, Netswipe, which allows consumers to pay by taking a picture of their credit card, and Netverify, which uses facial comparison to determine if users are who they say they are.

Check out Jumio’s live demo from FinovateEurope here.

Finovate Alumni News– February 19, 2014

  • Finovate-F-Logo.jpgLinkable Networks inks deal with Evan Anthony and Masterpiece USA to enhance shopper marketing and loyalty offering.
  • ValidSoft appoints Adrian Kelly chief product officer.
  • Actiance receives Microsoft certification to manage and record Lync 2013 Enterprise Voice.
  • American Banker takes a look at Jumio and its mobile commerce solution, Fastfill.
  • MasterCard to use Host Card Eumulation to enable secure NFC payments.
  • CaixaBank is developing Google Glass and smart watch apps.
  • Temenos announces multi-solution deployment with Banesco Grupo Financiero Internacional, Venezuela’s largest bank.
  • Open Eco Source features fastacash in a column on sending money via Facebook.
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.

Jumio’s Netverify and Netswipe Solutions Help Reduce Security Woes

This post is part of our live coverage of FinovateEurope 2014.

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Starting off the second session today, Jumio demonstrated how two solutions: Netverify and Netswipe offer increased security:
“Netverify offers real-time ID verification of passports, driver licenses, government issued ID cards, utility bills, insurance cards, and bank statements. This cutting edge technology is used by financial institutions, e-tailers, and consumer marketplaces to meet know-your-customer industry regulations, reduce fraud and chargeback costs in purchase transactions, and enhance trust and safety in online communities.
Netswipe supports real-time credit card scanning and validation in online and mobile checkouts. By eliminating the need to have consumers engage in laborious and error-prone key entry, our clients enjoy higher transaction completion rates, increased revenue, and reduced fraud and chargeback.”
Presenting David Pope (Marketing Director EMEA) and John McIntosh (Sales Engineer) 

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Product Launch: 2012
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Palo Alto, CA, USA
Founded: 2010
Website: jumio.com 
Twitter: @jumio

Finovate Alumni News– November 6, 2013

  • Finovate-F-Logo.jpgMarketWatch mentions BrightScope and FutureAdvisor as two ways to enhance your retirement portfolio.
  • Quippi to use PayNearMe to enable cash payments for its international gift cards.
  • MoneyDesktop launches Client Services product to offer employee training, marketing, tech support & other services to increase ROI PFM investment.
  • Atlanta-based Cardlytics opens first NYC office.
  • The Guardian mentions SumUp in its review of popular mobile apps for business.
  • Finovate alums FIS, Fiserv, ACI Worldwide, Jack Henry Banking, and Temenos earn spots on IDC Financial Insights tenth annual FinTech 100 list.
  • PandoDaily takes a look at Netswipe 2.0, Jumio’s payment card scanning solution.
  • Celent reviews Comarch Wealth Management Platform.
  • Ignite Sales launches mobile recommendation guides to accelerate bank customer on boarding.
  • Multicom announces partnership with pre-paid virtual card provider, Ixaris.
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.