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Alumni News-- October 14, 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.jpgFinovate Debuts: Malauzai Software.
  • Cross County Savings Bank to deploy DNA account processing platform from Fiserv.
  • Apps from MasterCard and Deluxe earn spots in PaymentsSource's "8 Wallet Apps That Go Beyond Payments."
  • Arxan and Xamarin extend Mobile Application Protection to developers.
  • Coinbase hires former Sr. adviser to Homeland Security & Gov'tl Affairs Committee, John Collins, to head gov't affairs.
  • Equities.com interviews Prosper.com's Ron Suber regarding CFGE, Peer-to-Peer Lending and Working with Big Banks.
  • RBS partners with Taulia to offer dynamic discounting with e-Invoicing to corporate customers.
  • Backbase named a visionary in the Gartner's Magic Quadrant for Horizontal Portals 2014.
  • Holvi accounts now use International Bank Account Numbers (IBANs).
  • Forte Payment Systems announces new partnership with The Master's Touch, LLC to power eNoticesOnline bill presentment service.
  • Visa Europe partners with edo to make its performance marketing platform available to 500 million European bankcards.
  • Xignite teams up with FactSet to provide fundamental market data from the cloud.
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-F-Logo.jpgPandoDaily features Planwise's "coming of age" story. 
  • OnDeck closes over $130 million in increased credit facility commitments, 150% 12-month growth surge drives doubling of debt capacity.
  • doxo's new email Import and Organization capability simplifies record keeping for the your key accounts.
  • Azimo picks cross-border payments platform Earthport to help expansion into developing markets.
  • Edo Interactive unveils self-serve portal for edo Marketplace that helps merchants set up card-linked offers on their own.
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-- July 30, 2013

  • FinovateLOGO.jpgOpenCoin is among the virtual currency innovators looking to form a self-regulatory body for the industry.
  • MasterPass from MasterCard launches in the United Kingdom.
  • Bank Innovation takes a look at FIS Global's recent remarks on the company's technology deal with Sainsbury.
  • Yahoo Finance looks at rewards earned using Dynamics ePlate credit card.
  • StreetFight features reasons to opt in for card-linked loyalty programs from Cartera Commerce, Cardlytics, edo Interactive and Swipely.
  • Netbanker features BillGuard, Manilla, and Credit Karma as value-added apps driving mobile adoption.
  • eToro adds price alerts to eToro Trader app.
  • Bright Ideas features Noreen Hafez, senior product marketing manager at Akamai.
  • Kasasa holds sweepstakes, films big-bank breakup video, featuring CEO Gabe Krajicek.
  • Betterment joins fellow Finovate alumni FutureAdvisor and LearnVest in this NYT column on bringing "financial planning to the masses."
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-F-Logo.jpgSafetyPay pulls in $7 million from International Finance Corp.
  • Xero releases Personal for iPhone, a mobile app for Xero Personal subscribers.
  • B2C looks at Dwolla as a challenger to PayPal.
  • Ad Exchanger lists edo Interactive and Linkable Networks as two card-linked offer providers.
  • Read our latest CEO interview with Oren Levy of Zooz.
  • Mint, Expensify, Ready for Zero, SigFig, and Personal Capital populate US News & World Report's "10 Smartphone Apps to Boost Your Budget" list.
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-F-Logo.jpgTech Dirt looks at Narrative Science's role in algorithmically-generated journalism. Come See Narrative Science at FinovateSpring.
  • Bdaily talks with Monitise EVP, Lisa Stanton, about mobile banking.
  • Numerica Credit Union adopts BBC Easy's C&I Lending program.
  • CU Times reports Fiserv's Spot Pay offers CUs a co-branded mobile payment platform and dongle.
  • Forbes looks at the growth of edo, Cardlytics, and Cartera Commerce and how card-linked offers are better than daily deals.
  • TechCruch reports OpenCoin has acquired SimpleHoney. See OpenCoin demo at FinovateSpring in May.
  • ProfitStars launches BillSimple from iPaySolutions.
  • TSYS to present at annual card forum and expo in April.
  • IntelliResponse adds 155th customer, the company's first credit union.
  • Convenience Store Decisions notes the growing role of mobile payment options such as PayPal and Flint Mobile.
  • FIS, Open Solutions veteran Gary Daniel to join Allied Payment Network. Join them in San Francisco for FinovateSpring.
  • Banking Technology looks at eWise, Pageonce, Mint.com, Kiboo, Holvi, & Moven as PFM resurgence examples.
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-F-Logo.jpgExpensify makes Reconciliation and Central Administration features available for American Express corporate cardholders.
  • Micronotes providing series of marketing campaigns for USAlliance FCU to help cross-selling efforts.
  • Palo Alto Software announces launch of EntrepreWorld, a virtual environment to test business plans in a virtual world of avatars. Come see Palo Alto demo its latest technology at FinovateSpring.
  • Consumers CU chooses Andera's oFlows platform for online account opening and lending.
  • Lighter Capital appoints Molly Gregg Otter as Vice President.
  • Bloomberg looks at how Jemstep, SigFig, and FutureAdvisor help manage your portfolio online. See Jemstep's new tech at FinovateSpring.
  • Forbes takes a close up look at London's FinTech Innovation Lab, including participants BehavioSec, Kiboo, and Open Bank Project.
  • Huff Post blog considers Lighter Capital's Revenue Loans as alternative to VC funding.
  • GCN looks at Dwolla's use in government.
  • Huff Post blog considers automated report-writing software company, Narrative Science. See its new tech at FinovateSpring.
  • Y C Universe profiles Trust Egg. See them demo at FinovateSpring in May.
  • MicroStrategy signs technology alliance agreement with MapR.
  • Berry Review takes a look at Pageonce Money and Bills on Blackberry 10.
  • Times of India highlights Klarna's growth in Europe.
  • Incentive Mag previews the launch of CashStar's table gifting solution.
  • Eye Verify announces results from biometric standard, performance and assurance lab survey. Join them in San Francisco for FinovateSpring.
  • IntelliResponse selected by KMWorld as one of "100 Companies that Matter in Knowledge Management" for 2013. Come see them in action at FinovateSpring in May.
  • New York City Mayor Michael Bloomberg officially 'opened the doors' to On Deck Capital's new NYC HQ.
  • Global Payments and edo Interactive launch pilot for card-linked offers network.
  • Boston Business Journal interviews Leaf CEO Aron Schwarzkopf. See Leaf's demo at FinovateSpring in San Francisco.
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-F-Logo.jpgCachet Financial Solutions integrates with CU Mobile Apps, a provider of mobile banking solutions.
  • Finextra reports SafetyPay opens up to German-speaking markets.
  • Lendio reports 2012 growth metrics.
  • Expensify listed as 1 of 4 apps to helps save and manage your money.
  • TechFaster interviews BillGuard CMO Mary Anne Keegan.
  • Business Insider interviews Josh Reich, Simple founder and CEO.
  • Xero makes Bank Reconciliation available to Android users.
  • edo Interactive's new Marketplace platform targets small, local businesses.
  • Check out Finovate's infographic of FinovateEurope 2013 innovation themes.
  • Billhighway named as finalist in the 2013 Stevie Awards for Sales & Customer Service.
  • SigFig-powered USA Today Money Portfolio Tracker launches in app store.
  • CashStar reports record holiday season; 800% increase in mobile eGift Card purchases.
  • Continuity Control partners with Community BancService Corporation.
  • TSYS technology at work in Visa's Saral Money program in India.
  • Rabobank launches Figlo-powered widgets for online banking homepage.
  • BrightScope ranks top 25 law firms with highest-rated 401(k) plans.
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.

edointeractive.jpg

Last week card-linked rewards startup, edo Interactive launched the edo Marketplace, a service that enables small, local businesses to take advantage of its rewards program.

Prior to this move, edo's platform was tailored to larger merchants. Big-name companies such as Crate & Barrel, Home Depot, Nordstrom, Subway, and Target are a part of the 200 companies that already use the edo platform to find new customers and encourage repeat customers.

Edo counts over 150 financial institutions as partners, including Fifth Third and Ally Bank.

As a part of its coverage, TechCrunch reported some of edo's growth metrics:

"Edo says its active card network is currently growing at 30 percent per month, and that within the next three months, it will extend 1 billion card-linked offers to consumers. Painting a picture of acceleration, the company says it took edo 4 years to reach that same level, previously."

EdoLocal.jpg

To learn more about edo, watch its FinovateSpring 2012 demo.

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHere is a list of all the funding Finovate alumni received over the course of 2012.  

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.

A few stand-out metrics for the year:

  • A total of 44 companies received funding, some more than once in 2012
  • Combined, more than $450 million was raised
  • The best quarter for raising capital was the first quarter when more than $150 was raised
  • The biggest funding month this year was March, with more than $68 million raised by three companies
Here is a month-by-month breakdown of funding received.

January -- $25 million raised by 3 companies
Currensee: $2 million -- blog post
Finsphere: $11.3 million -- blog post
HelloWallet: $12 million -- blog post

February -- $57 million raised by 5 companies
Capital Access Network: $30 million -- blog post
Dwolla: $5 million -- blog post
Jemstep: $6 million -- blog post
Kabbage: undisclosed -- blog post
Xero: $16.6 million -- blog post

March -- $68 million raised by 3 companies
Boku: $35 million -- blog post
eToro: $15 million -- blog post
ThreatMetrix: $18 million -- blog post

April -- $2.5 million raised by 1 company
miiCard: $2.5 million -- blog post

May -- $55.5 million raised by 5 companies
Kony: $15 million - blog post
Pindrop Security: $1 million -- blog post
SecureKey: $30 million -- blog post
SoMoLend: $1.17 million -- blog post
Yodlee: $8.3 million -- blog post

June -- More than $62 million raised by 8 companies
Affinity Solutions: $14.5 million -- blog post
Arroweye Solutions: $3 million -- blog post
Cartera Commerce: $12.2 million -- blog post
Credit Sesame: $12 million -- blog post
Doughmain: undisclosed -- blog post
Lending Club: $15 million -- blog post
Nutmeg: $5.3 million -- blog post
Planwise: $200,000 -- blog post

July -- $6 million raised by 2 companies
Continuity Control: $1 million -- press release
SaveUp: $5 million -- blog post

August -- More than $49 million raised by 6 companies*
DemystData: undisclosed -- blog post
FutureAdvisor: $5 million -- blog post
FreeMonee: $34 million -- blog post
The Currency Cloud: $3.1 million -- blog post
CashStar: $5 million -- blog post
Continuity Control: $2.25 million -- blog post

September -- More than $59 million raised by 5 companies
Banno: $2 million -- press release
Betterment: $10 million -- press release
Edo Interactive: $15 million -- press release
Fuze Network: $2.5 million -- press release
Kabbage: $30 million -- blog post

October -- $37 million raised by 2 companies
The Currency Cloud: $1.9 million -- blog post
Braintree: $35 million -- blog post

November -- More than $23 raised by 4 companies
ActivePath: $10 million -- blog post
Jingit: $7 million -- blog post
Bazaarvoice: $6.7 million -- blog post
Xero: $49 million -- blog post

December -- More than $16 million raised by 4 companies
Waspit: $3 million -- blog post
Controlabill: $570,000 (A$600,000) -- blog post
Zopa: undisclosed -- blog post
ShopKeep POS: $10 million - blog post
Clover Networks: $3.3 million - blog post

*In addition to the companies listed for August, On Deck Capital raised $100 million in credit facility commitments.

Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.

Finovate Alumni Bring in Funding

Over the past month, we've had four Finovate alums receive funding. Here they are in alphabetical order:

Thumbnail image for Thumbnail image for BannoLogo3.jpg

Banno
Funding: $2 million
Investors: Iowa Economic Development Authority's Innovation Acceleration Fund and private sector loan 
Funding total: $2.5 million
Funding purpose: Hire talent, upgrade data center infrastructure
Headquarters: Cedar Falls, IA
Founded: 2008
FinovateFall 2012 demo video

Thumbnail image for BettermentLogo8.25.jpg
Investors: Menlo Ventures, Bessemer Venture Partners, and Anthemis Group
Funding total: $13 million
Funding purpose: Improve the mobile experience, add better options for short term goals, and create new ways to encourage people to make the most of their money
Headquarters: NYC, New York
Founded: 2008

Thumbnail image for edoInteractiveLogo.jpg
Investors: VantagePoint Capital Partners, Baird Venture Partners, and other existing investors
Funding total: $54 million
Funding purpose: Expand reach of local offers technology
Headquarters: Nashville, TN
Founded: 2007

Thumbnail image for Fuze_Network1Logo.jpg
Investors: Ribbit Capital, Matrix Partners
Funding total: $5 million
Headquarters: Salt Lake City, UT
Founded: 2009
Quid, a San Francisco-based data analytics company, recently compared the FinovateSpring 2012 presenters against its database of 800 financial services companies. The following were determined to be the most unique and valuable (see methodology below): 

QuidBigDataIMG.jpg
Methodology per Quid:

First, we identified 800 financial services companies in our database hat have raised capital in the past few years, including all of the Finovate presenters. Then, we processed thousands of documents related o these companies (such as patents, job postings, filings, and press releases) to identify key terms and phrases used to describe them. We created the network map by connecting nodes (companies) by a line when here is an overlap in the key terms and phrases used to describe them. Next, we applied a clustering algorithm to detect emerging themes, revealed in the color key.

We then ranked the Finovate presenters by a network measure that filters for companies that are recombining existing technologies (a measure of innovation) and have raised high levels of capital (a measure of market worth). The top 7 companies are highlighted in the map, sized by innovation score.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgDCisions reflects on its FinovateSpring experience.
  • American Banker looks at TIO Networks as a Silicon Valley Tech company serving the underbanked.
  • CorFire and edo Interactive to connect purchase data and targeted offers via mobile.
  • Silver Tail Systems positioned in the Leaders Quadrant of the Magic Quadrant for Web Fraud Detection.
  • Bazaarvoice acquires PowerReviews for $151 million.
  • doxo adds mobile bill Pay, launches Android app.
  • Prosper takes on Lending Club's PRIME service with Premier.
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.

Here's a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune's live blog on PaymentsViews, which covers all 63 presenting companies:

Press.jpg

2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee

Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Bank Innovation
5 Finovate Demo-ers' News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman

Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito

Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer

Live at FinovateSpring 2012- day 1
by Jelmer de Jong

Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C'est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard's blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Excelsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express... what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments

SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis

Investment News
Personal Capital launches iPhone app
by Davis Janowski

Lazy Man and Money
What's Hot and What's Not from Finovate 2012

Mercury News
Money Goes Mobile 

Montreal Gazette
Montreal's Wall Street Survivor teaches about investing
by Jason Magder

MyBankTracker
Can FinTech Stop You from 'Showrooming?'
by Willy Staley

MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen

Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley

On Deck Capital Blog
Photo Journal: Our Finovate Demo

PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 

PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune

The Paypers
ZipZap rolls out CashCade payment service

PaySimple Blog
PaySimple at Finovate
by Sarah Jordan

PC World
New Web Apps and Services for Business
by Yardena Arar

QuidLabs
Finovate Best in Show
by Aliisa Rosenthal

SecurityPark.net
BehavioSec voted 'Best of Show' for biometric solution by audience at Finovate Spring, San Francisco

Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy

Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather

Social Lending Network
Roundup of Social Lending News - May 12, 2012
by Peter Renton

TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez

Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden

How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor

Nearing The 1M User Mark, Expensify Adds 'Trips' Feature To Mobile Apps
by Colleen Taylor

The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez

Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller

World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012
edoInteractiveLogo.jpg
Next, edo Interactive demonstrated GeoCommerce and showed how its card-linked offers use geolocation:

"Following FinovateSpring 2011 where edo unveiled the world's first ever real-time redemption of a card-linked offer, we're returning in 2012 to take the next step forward in our vision to transform shopping and saving. 

The innovation we'll demo - the ability for a purchase at one merchant to trigger the awarding of an offer to a second, nearby merchant in real-time - shifts the focus of mobile advertising from "check-in" to "check-out." Introducing GeoCommerce by edo, the next wave of innovation in the card-linked offers space."

Product Launched: May 2012

HQ Location: Nashville, TN
Company Founded: 2007
Metrics: $35M raised to date ($20M Series B raised in August 2011), 50 employees, live with more than 140 financial institution partners

Introducing Alex Gershman (SVP of Product Development) and Thomas Bernstein (Director of Product Development)

IMG_1576.JPG
IMG_1580.JPG

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More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the annual FinovateSpring conference in San Francisco May 8 and 9.

Each company provided a sneak peek of what they'll demo on stage next month. Below is the first installment of these teasers. We'll have more next week.

Don't miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateSpring ticket here.

____________________________________________________________________


Balance Street

Thumbnail image for BalanceStreetLogo.jpg

The premier direct marketplace between consumers and creditors for the purpose of debt settlement, Balance Street, provides consumers the opportunity to relieve their debt burden without fees. Consumers use its web-based automated system to negotiate with creditors directly, avoiding debt settlement companies who charge exorbitant fees (up to 20% of total debt owed).

Eliminating this 20% market inefficiency makes for a better financial outcome for consumers and creditors. With over $780 billion in credit card debt in the U.S., the Balance Street technology will revolutionize the way debt is settled.

Innovation type: Cards, marketing, PFM


Bazaarvoice

BazaarvoiceLogo.jpg

See how leading brands are harnessing the power of online word-of-mouth to boost customer referrals, sales, retention, advocacy, and company innovation while building the world's most powerful social data asset.

Innovation type: Communications, marketing, sales and customer service


Thumbnail image for BehavioSecLogo.jpg

BehavioSec

No one wants a complicated process for logging in to online or mobile banking. European banks have been forced to go down this route with hardware tokens and smart cards.

So now when U.S. banks will be rolling out new multi-layered security on the front-end following FFIEC, will we see the same thing here?

With BehavioSec's solution there is a better choice. They add multilayered security through the use of behavioral biometrics. So when the user connects via mobile or online, the technology helps verify that they are who they say they are. Learn more at FinovateSpring 2012.

Innovation type: Identity, mobile, security


Thumbnail image for BillGuard.jpg

BillGuard

BillGuard identifies deceptive, erroneous and unauthorized charges on consumer payment cards using advanced crowdsourcing and big-data mining techniques that harness the collective knowledge of millions of consumers reporting billing complaints online and to their banks. 

BillGuard's Advanced Card Protection Service for Banks is a seamlessly integrated, cloud-based solution that enables issuers to generate new value-add service revenue, and lower inquiry/dispute processing costs, by providing their customers daily bill monitoring and notification, enriched transition details and direct-to-merchant resolution.

Innovation type: Cards, communications, online UI


CoverHoundLogo.jpg
CoverHound is changing the way people shop for insurance online. Launching at FinovateSpring, CoverHound's new rate comparison shopping service allows consumers for the first time to compare multiple, instant, accurate rates from top carriers. CoverHound will also be demonstrating an exciting array of products specifically designed to help banks and credit unions generate significant non-interest income while providing a valuable service to their members.

Innovation type: Insurance


eDepositLogo.jpg
Never before has it been so easy for companies to provide business and retail customers with a way to validate creditworthiness through the use of online deposits. eDeposit provides patented funds visibility and real time settlement to markets across the U.S. in an innovative, new form of payment.

At FinovateSpring, eDeposit announces a new innovation that makes conducting B2B and B2C e-business faster, cheaper and safer.

Innovation type: Payments, security, small business


edoInteractiveLogo.jpg
From "check-in to check-out", intersecting the worlds of Payments and Advertising, edo takes the next step forward in its vision to transform shopping and saving.  

This next wave connects mobile and multi-channel retail . . . imagine a world where purchase and location meet and the new standard for mobile advertising moves from "check-in" to "check-out."

Innovation type: Marketing, mobile, rewards


Thumbnail image for Expensify.jpg
Expensify <3's Finovate -- they view it as the premier stage on which to make their biggest announcement of the year. Three years ago, it launched an open beta on the Finovate stage. Two years ago, it unveiled a major realtime analytics feature. One year ago it launched a revolutionary SmartScan service. But this year will trump all that.  A whole new approach to business travel. Prepare yourself!

Innovation type: Back office, mobile, small business


FutureAdvisorLogo.jpg
Most investors have assets spread across financial institutions and accounts, including limited-option accounts such as their employer's 401(k) plan.

Managing this is a chore - including figuring out which funds, in which amounts, and rebalancing.

Well, it was a chore, before FutureAdvisor.

Innovation type: Investing and asset management, online, PFM


Thumbnail image for giftlyLogo.jpg
Giftly is inventing the future of the gift card. Using its new iPhone app, users can send anyone a Giftly for any place they choose. The recipient redeems it on their smartphone when they go. It's fast, fun, and secure.

Giftly's app and web products have been designed to be social, simple, and powerful. Thanks to Facebook, Foursquare, and smart iOS integration, you'll always know which friends are celebrating birthdays, are checking in to cool new places, or are otherwise in need of a quick gift.


klarnaLogo.jpg
Is it possible to separate the fun of buying from the nuisance of paying? Klarna thinks so. The idea behind Klarna's e-commerce services is the concept of after-delivery payment, letting buyers receive ordered goods before any payment is due. Instead of giving financial information, buyers shop with Klarna just by giving their name and select information (Klarna calculates the risk).

Innovation type: Payments


LinkableNetworksLogo.jpg
Linkable Networks will be debuting a first-to-market capability that significantly broadens the value proposition of card-linked offers to issuing banks, merchants, manufacturers, and cardholding consumers. In addition, Linkable Networks will demonstrate new features recently added to its product platform and user interface.

Innovation type: Cards, mobile, rewards


Thumbnail image for mSHIFTLogo.jpg
MShift believes that financial institutions need to enhance existing mobile banking solutions into mobile wallet and payment solutions.

At Finovate, MShift will demonstrate how mobile banking can influence how a consumer spends money in various retail scenarios.

Innovation type: Banking, payments, small business


NICELogo.jpg
Your customers go mobile with smartphones and tablets. When they cannot fulfill their needs in mobile self-service, do you jump in at the right time to help them complete their business? Do you want to maximize the opportunity for smart customer experience and increased business via smart mobile devices (while reducing costs)? NICE Mobile Reach can do that for you. Don't miss its demo at FinovateSpring.

Innovation type: Mobile, sales


Thumbnail image for PersonalCapitalLogo9.11.jpg
Personal Capital is wealth management for the Internet Age. The company's online platform combines digital technology with highly personalized service to provide a holistic view of your unique financial picture. The free online dashboard presents all of your financial data in one place, including an assessment of your allocation, investment risk and fees.

These days, the financial lives of Americans are becoming more and more complex. At FinovateSpring, Personal Capital will unveil core new features that enable you to access your financial data in real time, on-the-go. You'll be able to view and do, anywhere, anytime.

Innovation type: Investing, mobile, PFM


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Pindrop Security provides enterprise solutions that help prevent phone-based fraud. Pindrop's acoustical fingerprinting technology detects fraudulent calls and authenticates legitimate callers, helping customers eliminate financial losses and reduce operational costs. Pindrop's breakthrough technology is the first of its kind to fingerprint individual phone calls, providing verification of caller provenance. 

Recently named one of the 10 Most Innovative Companies at the 2012 RSA conference, Pindrop's solutions help companies feel more confident in the security of phone-based financial transactions.

Innovation type: Identity, security


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Easily administer and coordinate your annual budget with Budget Manager from ProfitStars. ProfitStars takes the headaches, and the spreadsheets, out of the budgeting process and optimize the efficiency and effectiveness of budgeting and planning.  

The company will show you how this newly redesigned browser-based version enables users to construct and manage a more efficient budgeting process, including how to tackle more difficult items like salaries and fixed assets.

Innovation type: Banking


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Discover a new Facebook app for banks that will not only make you relevant and engage Facebook users, but will also get your customers recommending and endorsing your card products.  It drives great loyalty from existing customers and also helps to devise new customer acquisition --all through Facebook. 

Serverside does this by letting people design their own credit or debit card using a picture from their Facebook gallery, then post it to their Facebook wall. Their friends then click on the card image to design their own card and help your bank to go viral!

Innovation type: cards


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Social Money can provide any bank in the world its own branded version of our revolutionary and award-winning SmartyPig technology. A new bank can be up and running on our system within 90 days in any language and currency, for a fraction of the cost of internal development efforts.

Innovation type: Banking products, PFM


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The dawn of compliance solutions that work.

Meet Molly. 115 different people use Molly's SSN.
Financial institutions have no idea who these people really are.

This is possible because FIs and so-called identity protection companies can only verify identity. Verification is not enough. Full identification is needed to fight fraud and provide FIs the means to meet compliance requirements. Only Financial ICONN from TASCET can identify financial customers.

Once Molly activates her ICONN, TASCET proactively secures her identity and FIs know exactly who she is.

Innovation type: Identity, security


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Taulia takes the waste out of the supply chains of Fortune 500 Enterprises while simultaneously solving the cash-flow needs of their suppliers. The large enterprise buyers get discounts by paying their invoices early. In return, their suppliers get paid when they want. In Taulia's young life, it has already enabled small suppliers from 40+ countries around the world to receive hundreds of millions of dollars of early payments.

Innovation type: Lending, payments, small business


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The Under-18 audience has an estimated $50 billion in spending power. Learn how to successfully monetize the kids/teen market in this powerful demo by Virtual Piggy, an exciting new company that provides innovative technological solutions to help bridge the gap between children, parents and online retailers.

Innovation type: Payments


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Wall Street Survivor is the only place for the beginner to learn about investing. Guided missions, beginner-focused learning content, combined with the web's best stock simulator help users effectively manage their financial future.

Innovation type: Investing & asset management, marketing, PFM


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Mobile commerce is estimated to be a $31 billion industry by 2015, but how will the underbanked participate? Wipit has unlocked mobile payments for this massive and largely untapped consumer demographic representing 25% of all U.S. households and over 70 million U.S. prepaid wireless subscribers. Underbanked consumers can now make in-app and online payments with a single click. No need for bank accounts or credit cards; Wipit lets underbanked consumers use their payment method of choice-- cash.

Innovation type: Cards, payments


Stay tuned next week for another sneak peek of FinovateSpring 2012 presenting companies.
Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTo wrap up 2011, we've compiled a list of all of the funding Finovate alumni received over the course of the year. 

The results were impressive:

  • A total of 34 companies received funding, some more than once
  • The companies collectively raised over $423 million dollars
  • The months with the highest number of companies receiving funding were June August, both with 8 companies
  • The highest amount of funding came in the month of June, when the alumni brought in over $124.4 million
Here is a month-by-month breakdown of funding received:

January -- $40.8 million raised by 3 companies

February -- $10.3+ million raised by 3 companies

March -- $20.4 million raised by 4 companies

June -- $124.4 million raised by 8 companies

July -- $1.1 million raised by 1 company

August -- $103.4 million raised by 8 companies

September -- $33 million raised by 1 company

October-- $22 million raised by 2 companies

November -- $16.3+ million raised by 3 companies

December -- $52.2 million raised by 5 companies
Note: Funding that companies received before they demonstrated at Finovate was not counted. If you see any funding that is not on this list, please send the name of the company along with a link to the funding information to julie@netbanker.com and I will add it.
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  • Steven Kietz, former Mobile Money Ventures CEO, joins EDO Interactive as GM & EVP of Strategic Partnerships.
  • CNNMoney discusses how Simple can provide a no hassle bank account.
  • Melrose Mutual Insurance Company, Grinnell Mutual, & ID Theft 911 partner to remind shoppers to safeguard identities.
  • Forbes names Dwolla's Ben Milne to '30 Under 30' list for finance.
  • BizReport interviews Xero to discover how the cloud is helping small businesses.
  • Fox Business News recommends visiting Credit Sesame and Credit Karma to check your credit score.
  • INOVA FCU depicts its success from using Mortgagebot's PowerSite.
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.
Thumbnail image for edo Logo10.11.pngEarlier this week, Nashville-based edo Interactive was presented with two awards from the Direct Marketing Association (DMA) for its Prewards Performance Marketing Platform:

    • Early Stage winner
    • Innovation Award winner in the Real Time and Trigger Marketing category 

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The purpose of the DMA awards is to recognize the innovative advances being made in marketing technology.

To learn more about edo Interactive, watch its FinovateSpring 2011 demo video.
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Bobber Interactive
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Tech Flash interviewed Eric Eastman, Bobber Interactive's CEO, on how the gamification of money management aims to help Generation Y better manage their money. Link 

BrightScope
BrightScope released a report detailing the top 12 small-cap funds in America's 401k plans. This report is part of a series that provides insight into the top funds and managers in the retirement marketplace. Link

ChargeSmart
Discover is offering an instant rebate to customers who pay their utility bills using a Discover Card on ChargeSmart's website. Link

Check Point Software Technologies
  • Check Point enhanced its Software Blade Architecture by releasing R75.20, a comprehensive approach to security that includes a URL filtering Software Blade, SSL inspection, and data loss prevention. Link
  • The Wall Street Journal discussed Check Point's ZoneAlarm SocialGuard that helps parents protect children on Facebook in a non-intrusive manner. Link
Clairmail
Clairmail announced  record growth this quarter, with more than a 60% increase in bookings from last quarter. Link

Clovr Media
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  • BostInnovation stated that Clovr Media is changing the way consumers collect loyalty rewards through its Card-Linked Ads that allow consumers to access rewards by clicking on an advertisement. Link
  • Mass High Tech's weekly Startup Watch listed Clovr Media as one of five startups to follow. Link
Credit.com 
EQuicknews listed Credit.com as a free way to check your credit score with no strings attached and highlighed the Credit Report Card feature. Link

doxo 
The Appvita blog profiled doxo, noting insider tips and practical uses, such as comparing bills on a month-to-month basis. Link

Dwolla
Bank Technology News looked at the players in the mobile payments space and listed Dwolla as a formidable competitor. Link

EDO Interactive
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EDO Interactive received $20 million in Series B funding to grow its Prewards platform that enables advertisers to offer digital deals and incentives that consumers redeem by using their existing credit, debit, or prepaid cards. Link

eToro
eToro began a trading contest for users with both demo and live trading accounts. Traders who accumulate the greatest gains will win each round. Link

eWise
eWise added Renasant Bank to its customer base, providing Renasant customers access to Secure Vault Payments, an alternative payment method. Link

Expensify
  • Expensify added a new feature that provides QuickBooks users a way to easily identify billable expenses to add to invoices. Link
  • The Kitsap Peninsula Business Journal listed Expensify as one of ten business apps for empowering your inner geek. Link
Kony Solutions 
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Tower Group, in its Review of North American Consumer Mobile Banking Technology Vendors, ranked Kony Solutions among the top mobile banking technology vendors. Kony excelled in the feature/function and customization categories. Link

Lending Club 
TechCrunch highlighted Lending Club's announcement of $25 million in Series D financing from Union Square Ventures and other existing investors. Link

Lendio
Lendio added Cardinal Bank to its network of lenders providing clients with more options in finding equipment loans, business lines of credit, acquisition financing, commercial real estate, SBA 7(a) and SBA 504 loans. Link

Mitek Systems
Mitek Systems launched  Mobile Imaging Cloud Service that captures, extracts, and routes information contained in documents. The service helps app developers create smartphone and tablet apps that use a camera input function. Link

Monitise 
Monitise Asia Pacific launched its mobile banking, payments, and commerce services in Indonesia and signed a joint venture agreement with PT Astra Graphia Information Technology, an information and communication business. Link

On Deck Capital
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On Deck Capital raised $19 million of its own in a Series C round of funding. Link

RobotDough 
RobotDough founder, Wilton Risenhoover, revealed why he started RobotDough and how it works. Link

SafetyPay
SafetyPay received a Payment Services Directive License to provide cross-border payments throughout Europe strengthening its position in that market. Link

SecondMarket 
BostInnovation used SecondMarket's alternative investments platform to discover top Boston companies. Link

Striata
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Baton Rouge Water Company selected Striata, along with payment services company Western Union, to provide email billing with integrated electronic payment service. Link

The Receivables Exchange 
Treasury & Risk profiled The Receivables Exchange, describing the process companies use to sell their receivables on the online platform. Link

TradeKing
TradeKing launched a $100 bonus for new customers who open an account by August 31, 2011. Link

Wonga 
Smarta interviewed Wonga director, John Moorwood, about Wonga's growth over the past 12 months. Wonga is now issuing over 1.5 million short-term loans. Link

Xero
Xero released Xero Touch, its new accounting app for the iPad, iPhone, and iPod Touch. Link

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Aptys Solutions
Aptys Solutions signed with Banker's Bank, a top check depositor with the Federal Reserve Link

Backbase
Backbase to host webinar on how to use social media in financial services Link

Betterment

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  • Betterment announced a growth of over $10M under management and over 4000 customers in first year Link
  • Betterment celebrated its first birthday Link

Bill.com
Bill.com is working to improve its mobile offering for small and midsized businesses Link

Boku
Mobile Entertainment explained how Boku will revolutionize pay-by-mobile for digital goods Link

Capital Access Network
CNBC explained how Capital Access Network solves the need to use financial creativity Link

Credit Karma
WiseBread Blog interviewed Credit Karma CEO Link

doxo

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  • doxo's first fan video was posted online Link
  • Oregon employees were the first to give its members doxo's online file cabinet Link
  • TechFlash highlighted the benefits of using doxo to achieve paperless business Link
  • 2Minute Finance interviewed doxo at FinovateSpring Link

Dwolla

  • Dwolla was listed by inc Tech as one of three startups you must know from Big Omaha Link
  • Credit Union Times listed Dwolla as a new P2P service rivaling 'bank giants' Link

edo Interactive
MyBankTracker interviewed edo Interactive COO about its Prewards service Link

Expensify
Slate explained how Expensify will help the 'frequent flier' Link

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Kabbage
Technorati described how Kabbage works with eBay Link

Lending Club

  • Mint.com's blog covered what you need to know about Lending Club Link
  • San Francisco Business Times commented on Lending Club's strong backing from both investors and lenders Link
  • San Francisco Times reported that Lending Club stated it is not planning to go public for several years Link

LendingKarma
Entrepreneur featured LendingKarma as a good tool to use when borrowing money from family or friends Link

Lendio
San Francisco Chronicle reported that Lendio offers funding opportunities for new grads Link

Lodo Software
Lodo Software was described as a startup providing jobs in the "Silicon Prairie" region, a.k.a. Omaha Link

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Monitise
Monitise released a report predicting that the majority of consumers will use mobile money services within the next three years Link

Mortgagebot
Mortgagebot reached 1000 clients, one of its goals from the beginning Link

PayDivvy
2MinuteFinanced interviewed PayDivvy about its services Link

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PayNearMe
BillShrink examined PayNearMe's cash payment service Link

peerTransfer
Mass High Tech interviewed Iker Marcaide from peerTransfer about becoming an entrepreneur Link

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ProfitStars
ProfitStars announced a new version of Margin Maximizer that's now available as a hosted solution Link

Robot Dough
2MiniuteFinance toured RobotDough's demo during interview at Finovate Spring Link

SecondMarket

  • Wall Street Journal stated that SecondMarket helped fuel the tech boom Link
  • CNBC interviewed SecondMarket for an explanation of the change in trading numbers Link and LinkThumbnail image for smartypig.jpg

Smarty Pig
Smarty Pig launched new sharing features, including activity sharing and goal sharing Link

Striata
Striata will host a June 2 webinar for implementing successful ebilling strategies Link

ThreatMetrix
San Francisco Chronicle covered ThreatMetrix's research around mobile transaction activity Link

TILE Financial
TILE Financial released a Financial Identity Profile to strengthen the connection between advisors and under-30 consumers Link

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TradeKing
TradeKing divulged the lineup of its free webinars in June Link

Tyfone
Tyfone won 2010 Asia Pacific Smart Card Association Award for its NFC innovation and implementation Link

Wikinvest
Dow Jones Advisor highlighted Wikinvest as a way to analyze portfolios Link

Wonga

  • Wonga won 2011 Red Herring Top 100 Europe Award for exceptional accomplishments Link
  • Wonga won the Media Momentum Awards, a coveted award for digital media companies in Europe Link
  • Wonga's Errol Damelin discussed consumer-centric credit Link

Xero

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  • Diversity Limited commented on Xero's move to the US markets Link
  • Xero and Keebo teamed up to help you manage and process receipts Link
  • New Zealand Herald commented on Xero's surging revenue Link

Zecco

  • The Wall Street Journal reviewed Zecco's new Facebook app Link
  • Zecco launched an app for stock trades & viewing realtime market data on Facebook Link

Zopa
Zopa shows how it helps consumers protect against inflation Link

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