Finovate Alumni News

On Finovate.com

  • Coinbase Launches Open Source Ethereum Wallet to Promote Financial Inclusion.

Around the web

  • Expensify partners with TravelPerk to make business travel easier.
  • Bento for Business welcomes Lou Friedmann as Chief Revenue Officer.
  • Featurespace’s ARIC platform to power fraud prevention for GoHenry.
  • BBVA and Ripple complete blockchain cross-border money transfer pilot.
  •  Larky to power location-based perks platform for Sharetec’s CU clients.
  • Icon Solutions enhances Instant Payments Framework (IPF) to connect to The Clearing House for US Real-Time Payments.
  • Walletron helps Transactis grow its electronic billing and payments service, BillerIQ.
  • NICE Actimize unveils new, cloud-based, fraud analytics optimization technology, ActimizeWatch.
  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.
  • IBS Sales League recognizes Temenos as “number one best-selling digital and channels solution” worldwide.
  • Algomi teams up with OpenFin to deploy software updates faster.

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.

Western Union Takes Strategic Stake in Walletron

walletron_homepage_december2016

Walletron, the company that hopes to make accessing your mobile wallets as easy as using your digital boarding pass at the airport, has just won a strategic investment from Western Union. Khalid Fellahi, SVP and GM for Western Union Digital, said his firm’s partnership with Walletron helps reinforce Western Union’s commitment to the mobile channel, which he calls “our priority customer-engagement channel” for both money transfer and payments.

Walletron’s technology is an SaaS platform that manages the content and appearance of digital cards in a mobile wallet such as Wallet and Android Pay. The company’s moBills solution enables billers to put a payment and presentment channel on customers’ smartphones to provide for faster payment, important reminders and notifications, and more.

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Walletron CEO Garrett Baird demonstrated moBills at FinovateFall 2015.

The strategic investment—amount undisclosed—comes just a few months after the two companies announced a commercial alliance between Walletron and Western Union’s billpay service, Speedway. The alliance enables Western Union biller clients to add Walletron’s moBills solution to take advantage of personalized notifications, bill information, and other features using their smartphones.

Nasdaq.com reported that Western Union’s investment in Walletron is part of an effort to expand its presence in the mobile payments space. The company’s own research indicates that 27% of all consumers and 48% of Gen Y consumers expect to pay more bills by a mobile device. Mobile World Live compared the Walletron investment to Western Union’s partnership with messaging app WeChat back in November 2015, and noted the company’s competition from mobile remittance/money transfer startups such as Azimo and Xendpay.

Founded in 2013 and headquartered in Philadelphia, Pennsylvania, Walletron demonstrated its moBills solution at FinovateFall 2015. Check out our Finovate Debut profile of the company from this summer.

Finovate Alumni News

On Finovate.com

  • “Western Union Takes Strategic Stake in Walletron

Around the web

  • Fiserv launches Prologue Risk Manager to streamline and simplify compliance.
  • RAGE Frameworks unveils LiveSpread, an AI solution to aid in processing of financial documents for credit analysis.
  • The Beast Apps introduces comprehensive MiFID II compliance-integration solution, Minotaur.
  • Scalable Capital launches Android app in the U.K.
  • Hyperwallet begins 24/7 support amidst launch of new Austin contact center.
  • Xero interviews David Barrett, CEO and founder of Expensify.
  • Heckyl wins Government of Ontario’s Next Big Idea 2016 contest
  • Kabbage named one of the best places to work in the U.S. for 2017.

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

  • Check out this week’s FinDEVr APIntelligence.
  • Fiserv Adds clearXchange P2P Payments to its Offerings
  • Virtual Piggy Gets Real, Transitions from Payment Card to Mobile App
  • 7 Alum Leaders Named UK’s Coolest People Fintech

Around the web

  • Pennsylvania State Employees CU implements account-origination module from Temenos.
  • Algomi unveils its sell-side engine, Synchronicity, as an SaaS solution.
  • Walletron announces strategic partnership with payment-services company Speedpay.
  • Handpoint Extends Global Processor Reach With EMV Certification To EVO Payments International
  • Xero launches first direct bank feeds in Asia with Singapore’s UOB.

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 Debuts: Walletron Helps Brands Build a Presence in Digital Wallets

Walletron_homepage_May2016

If you like having your boarding pass on your smartphone, then you’re going to love Walletron.

With a background in payments as well as loyalty, coupons, and rewards, CEO Garrett Baird and the Walletron team are trying to finish off paper statements for good. Walletron already leverages the technology that puts your boarding pass in your digital wallet to do the same for gift cards. Now they are doing the same thing for paper bills.

Baird says Walletron’s proposition is delivering their (brand) presence in the digital wallet, as well as “the communication that goes along with it, with the actual payment relying on the billers themselves to process.” Baird emphasized this point, insisting that FIs and organizations use their existing processes to complete the payment. “We are the communication part,” he underscored, “piggybacking on top.”

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Walletron CEO Garrett Baird presented moBills at FinovateFall 2015 in New York.

At FinovateFall 2015, Walletron CEO Garrett Baird demonstrated moBills, the new billpay component of Walletron. moBills enables billers to open a payment and communication channel on their customer’s smartphones through which everything from payment reminders to confirmations can be provided. Payments can be made with a few taps on the app, and users remain authenticated after enrolling in moBills, so there is no need for a subsequent login process.

“People have been waiting for electronic payments to take over since 2000,” Baird said. “But it hasn’t happened yet. There are still very tiny adoption rates. This solution will finally move the needle.”

Company facts:

  • Founded in 2013
  • Headquartered in Philadelphia, Pennsylvania

Wallets as commerce and communication channel

For Baird, it all begins with the digital wallet and the idea that people cling to paper statements because they are both a reminder and a source of information to complete the transaction: account numbers, user names, routing numbers, and so on. “There are not enough brands taking advantage of the mobile wallet and other wallets,” Baird said. “Airlines have nailed it—great use-case for boarding passes.”

Walletron_mobills_imageThe irony is that mobile devices excel at both of these functions, without the cost and inefficiency of paper. All that is needed is an intermediate layer. And that layer is Walletron. “There is a new communication channel in these wallets,” Baird said. “[It’s] very easy for brands to get up and running. [And] billing data is all Walletron needs.”

Within the digital wallet, the user sees all the billing relationships that have been set up: auto loans, mobile phone company, and so on. On the front of the individual card is basic billing information, with links to pay the bill, read the statement, or change notification preferences on the back. Customers enroll in the moBills program by visiting the company’s online billing website and selecting the moBills option for either Apple Wallet (formerly Passport) or Android Pay (formerly Google Wallet).

As soon as a customer makes a selection, the current billing statement appears in their digital wallet. The customer then makes notification preferences (i.e., due-in-five-days reminder, payment-received notification, etc.). “And there’s no app for the customer to download because they already have the app on their phone,” Baird said from the Finovate stage. “And now the relationship lives in the (digital) wallet.”

Walletron’s growth strategy involves working with the largest billers, including FIs, mortgage and auto loan companies, as well as processors (and fellow Finovate alums) such as FIS, Jack Henry, ACI Worldwide, and Fiserv. In March, the company inked its first deal with Australia-based FlexiGroup, which will offer moBills to hundreds of thousands of customers. “The industry hasn’t yet seen a mobile option which truly eliminates the need for a paper statement,” Baird said during the announcement, “We believe moBills has.”


Check out Walletron’s demonstration video from FinovateFall 2015.

Finovate Alumni News

On Finovate.com

  • MoneyHub Teams Up with Unbiased to Help People Manage their Finances
  • Expensify Unveils ReceiptBurner and Price-to-Beat
  • Finovate Debuts: Walletron Helps Brands Build a Presence in Digital Wallets

Around the web

  • Concur to deploy SilverRail API to enable European travelers to search, plan, and schedule travel by rail.
  • CSI globalVCard moves global partnership-operations team to Dallas; Nan Dawson promoted to SVP of partnership operations.
  • Lending Club announces new Chief Capital Officer, Patrick Dunne.
  • CoinTelegraph names Braintree, Chain, and Ripple as three companies that will shape the future of money.
  • Sberbank Capitalizes On Pokémon Go Marketing Opportunity
  • Over the last year, 50 new customers added Guardian Analytics Wire to protect their customers from the Business Email Compromise scam.
  • Simple celebrates its 7th anniversary, now with 300,000 customers and a little over 300 staff.

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

  • “InforcePRO Rakes in $4 Million Following Finovate Debut”

Around the web

  • Jumio brings its ID verification technology to Loot, a prepaid card and money-management app.
  • Let’s Talk Payments looks at the Venmo-powered Ledge, a mobile P2P lending app.
  • CardFlight mPOS solutions certified by First Data to accept EMV chip card payments.
  • Re/code profiles Twilio as part of its new “Lunches with Unicorns” series. Join Twilio’s Authy at FinDEVr 2015 in San Francisco next week.
  • Fortune Magazine lists OnDeck on its list of 100 Best workplaces for millennials.
  • Hyperwallet’s founder, Lisa Shields, wins EY Canada’s Entrepreneur Of The Year award.
  • FamZoo wins The People’s Choice Award at FinCon15.

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.

moBills from Walletron Gives Billers a New Payment and Presentment Channel via Smartphone

WalletronThis post is part of our live coverage of FinovateFall 2015.

Making its way to the stage next is the CEO of Walletron.

Walletron’s moBills allows billers to open a new payment and presentment channel in a centralized location on smartphones. Customers receive in their mobile wallet an updated, branded bill, their moBill, every month. Ongoing notifications remind customers to pay, confirm processed payments, and light up users’ devices when their next bill arrives. Payments occur in only a couple of taps.

Once enrolled in moBills, consumers remain authenticated and no further login is required. Full PDF statements can be viewed on users’ phones, and billers now have an immediate connection to customers other than the (often lost or deleted) email. moBills finally provides billers with a true alternative to paper statements.

Presenter: CEO Garrett Baird

 

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Product Launch: April 2015
Metrics: 2 million-plus wallet items added by users, bootstrapped to date
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Philadelphia, Pennsylvania
Founded: 2013
Website: walletron.com