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  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for takes a look at the competition between Square and Flint Mobile.
  • Compass Plus presents instant card issuance in debut appearance at CARTES America conference.
  • SAGE SA names Amir Suleman as Head of Sales for Middle East.
  • Striata receives PCI compliance for its Grade 1 infrastructure in the UK.
  • New Europe Online interviews eToro's Head of Product Marketing, Alon Levitan, about how eToro is changing online trading.
  • PEHub interviews Drew Sievers, who led mFoundry to an acquisition by FIS.
  • Fraternity and Sorority Political Action Committee leverages Billhighway Give to Reach Fundraising Goals.
  • Perfectsen selected as a semi-finalist for the Innotribe Startup Challenge 2013.
  • OneID wins 2013 North America Frost & Sullivan Award for New Product Innovation. Come see their presentation at FinovateSpring next week.
  • Locaid earns extended relationship with LaaS company Timesheet Mobile. See Locaid 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 Alumni News-- March 19, 2013

  • Thumbnail image for Finovate-F-Logo.jpgVantageScore 3.0 now available from Experian.
  • WattzOn featured in RealtorMag column on energy savings for homeowners.
  • Communications Federal Credit Union to provide Tyfone mobile wallet services to its members.
  • Service2Media's M2Active 4.0 selected by Achmea as the "technological cornerstone" for its App Factory.
  • Bank Systems & Technology takes a look at what the acquisition of mFoundry means for FIS's future in mobile banking.
  • Bloomberg's Tech Deals reviews Jemstep Portfolio Manager.
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 14, 2013

  • Thumbnail image for Finovate-F-Logo.jpgTemenos to partner with Caisse Financial Group, providing T24, Insight, Temenos Connect.
  • ACI Worldwide completes Online Resources Corporation acquisition.
  • Standard Chartered Bank moves Africa headquarters from Dubai to Johannesburg.
  • TechCrunch reports: Intuit launching Intuit Pay mobile payments service in the UK.
  • LearnVest aims to hit 100 planners by year-end.
  • TechCrunch reports: PayPal Here takes on Square Register with new iPad payments app.
  • SafetyPay and giropay join forces to secure internet payments in Germany.
  • TIBCO enhances real time loyalty marketing platform.
  • PrintWeek interviews GMC Software Technology COO Michael Watts.
  • CSI Enterprises set to announce updates to its globalVCard pay systems solution at the Innovation Project 2013 in March.
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 Finovate-F-Logo.jpgIt was a big day for Finovate alumni. ACI Worldwide and FIS, themselves both Finovate alums, rang the register on a couple of smaller fintech companies they hope will make them even bigger players in the online banking and payments world.

Online Resources Bought by ACI Worldwide

In an all-cash deal worth $260 million, the purchase of Online Resources will help ACI Worldwide bring broader online banking and full-service bill payment options to its network of financial institutions.   

The deal is also expected to increase the company's customer base, with 1,000 banks, billers and other FIs coming along with Online Resources into the ACI Worldwide fold.

A look at the numbers:

  • Online Resources provides services to more than 1,000 FIs and billers
  • It processes more than 240 million bill payment transactions each year
  • It connects more than 9,000 billers
  • The combined entity anticipates cost synergies (i.e., saving in operating expenses) of more than $19 million.
  • Common shareholders will receive $3.85 per share, an 83% premium over yesterday's closing price

FIS Purchases mFoundry

FIS's decision to buy the 78% of mFoundry that it did not already known is seen as an opportunity for the company to assert itself in the mobile arena, while expanding its customer base in the process.

FIS already has a sizable footprint when it comes to banking and payments technology. And in bringing mFoundry fully on board, the company has helped fuel optimism about the prospects for greater innovation and "convergence" among the various players within the industry.

More on the deal:

  • mFoundry serves more than 800 banks and credit unions across the country
  • The acquisition will cost FIS $120 million (valuing mFoundry at about $160 million) 
  • The deal is expected to close by the end of March
  • Founded in 2004, mFoundry's clients include Bank of America, Zions Bank, and more than a third of the top-50 financial institutions in the U.S.
  • FIS serves more than 14,000 FIs in more than 100 countries

mFoundry and Online Resources both participated in our very first Finovate back in 2007. mFoundry was also on stage more recently at FinovateFall 2010.

  • Finovate-F-Logo.jpgTechCrunch reports Braintree's New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC's Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
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.

Last week, I attended BAI Retail Delivery in Washington D.C. where over 200 exhibitors lined the trade show floor of the Walter E. Washington Convention Center.

There were 31 Finovate alums on the expo floor, and even more in attendance. My schedule was packed, but I was able to catch up with a handful of Finovate alums.

Here's what I learned.

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The card-linked offers company is in the middle of a successful mobile deployment effort with BofA, PNC, Regions, and a few other unnamed FIs. After launching their respective rewards programs on mobile, the FIs have seen an increase in user engagement and an increase in the number of online banking visits per user.

It is also working on International expansion. So far the top 3 European card issuers have signed.


BofA's BankAmeriDeals on tablet interface

BofA's BankAmeriDeals on iPhone mobile app

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The consumer credit reporting agency recently launched its Insight Score for Retail Banking, a solution that will help FIs generate a risk score for underbanked individuals with no credit data or history. It does this by using non-FI-related payment data from companies like Telco and other TV and cable providers.

The fintech provider showed me its SpotPay payment dongle and back-end solution. It appears to be Fiserv's response to Square that it will co-brand with FIs. Fiserv is able to on-board FIs with SpotPay in a couple of days, so it is a quick way for FIs to get into the payments game. 

While there is an $8.95 per month fee, it is competitively priced, charging only a 1.99% fee on a swipe, and a 3.19% fee on card-not-present transactions.
Fiserv's SpotPay dongle being used on an iPhone

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Because volume and sophistication of fraud has grown, Guardian Analytics started bank-sourcing (think crowdsourcing) fraud by bringing multiple institutions together to collaborate on the types of fraud they're seeing so the whole industry will be better at fighting it. Tiffany Riley, Guardian Analytics' VP of marketing tells me they've received positive feedback so far.

Mobile banking solutions company, mFoundry launched its Fin.X platform. This platform can be thought of as a type of app store for FIs to select which products/services they want to include in their mobile app. 

At BAI, mFoundry announced partnerships with Blackhawk Network, Dwolla, and Micronotes 
to white-label their solutions within the Fin.X platform.

An example of what the Fin.X app platform could look like on a tablet

The PFM won CUNA Tech Council's Best of Show Award at BAI. This counts as its 5th Best of Show award.
MoneyDesktop team with BAI President & CEO, Deborah Bianucci

Thumbnail image for MonitiseLogo2.jpg
After the mobile money solutions company acquired Clairmail 3 months ago, Monitise now has 17 million active users. It is in trials of an NFC solution with a few banks. The solution uses a sticker as opposed to a chip inside of the actual device.

Thumbnail image for Q2ebankingLogo.jpg
The electronic banking solutions provider launched Q2clarity, a tablet-optimized dashboard that provides customizable analytics and visibility to how customers are using an FI's mobile and online platform. Providing these metrics to a branch manager, gives them the ability to make more informed decisions about which products and services to offer.

These eight companies are just a fraction of what I saw at BAI this year. For more information on who attended the trade show, visit here.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Insight reports CU Solutions Group partners with SaveUp.
  • mFoundry announces cloud-based Fin.X solution.
  • Taulia featured on Start-ups and Technology: Real Game-Changers presented by SAP.
  • Kashoo CEO, Jim Secord, gives company update.
  • AOL Daily Finance reports Dynamics and UMB increase experience provider rate to 0.5% for ePlate payment system.
  • Business Insider goes behind the scenes of LearnVest's latest product launch.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFenergo launches new online FATCA Self-Certification Tool for W-8 and W-9 form collection.
  • ABABanking Journal profiles Guardian Analytics.
  • Geezeo signs Commonwealth and General.
  • Bank of China (Hong Kong) and Monitise form partnership.
  • Visible Banking interviews Matthias Kroener, Fidor Founder and CEO.
  • Social Lending Network reports: Lending Club cracks $70 mil, Prosper has a down month.
  • North Bay Business Journal lists mFoundry and Monitise as fast growing tech companies in 2012.
  • American Banker reports Pacific Continental switches to Q2ebanking as business app provider.
  • Tykoon and LearnVest host contest to help families get money smart.
  • Leadfusion extends aid to financial institutions struggling to respond to the latest serious Java security threat.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Journal reports Minnesota's Postal CU unveils mFoundry's M-Banking.
  • Payments News reports Cardlytics' System Uses 'Big Data' to Deliver Targeted Rewards.
  • TIO Networks launches TIO Connect to simplify onboarding for bill issuers and to open new markets.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCheck out VC funding trends in financial services startups.
  • Cartera Commerce raises $12.2 Million in growth equity.
  • Braintree expands payments gateway to merchants in 30 countries.
  • Lending Club receives $15 mil from Kleiner, Mary Meeker joins board.
  • ThreatMetrix positioned as a "Visionary" in the Magic Quadrant for Web Fraud Detection.
  • Clairmail awarded 2012 Best Mobile Application or Service.
  • mFoundry launches mobile banking solution for Eli Lilly Federal Credit Union.
  • City National Bank partners with Cachet Financial Solutions and Panini to deliver RDC to Mac users.
  • receivables wins ninth annual Tax and Accounting Technology Innovation Awards.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTIO Networks named one of Canada's leading tech companies, placed in Canada's Branham25. See TIO Networks new tech at FinovateSpring.
  • SecureKey named  one of the top 25 up and comers in the Branham300 list of top tech companies in Canada.
  • Guardian Analytics launches fraud detection software for mobiles.
  • The Brainyard reports Bazaarvoice adds SAP, integration.
  • Mortgagebot's online lending tech supports 25% increase in loan production for Bank of Colorado.
  • DoughMain launches new savings tool for kids.
  • KeyBank launches new mobile banking solution with mFoundry.
  • SpendMatters covers Taulia. Come see Taulia's demo at FinovateSpring 2012.
  • WSJ looks at US Bank's implementation of FreeMonee.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgDwolla redesigns dashboard page, reveals celebrity investor.
  • Intuit opens driving range in downtown Seattle for 1 day to promote its GoPayment technology.
  • mFoundry launches mobile banking solution for Conestoga Bank.
  • Utilities Employees CU signs a contract with Jwaala to enhance its online services and offer mobile banking.
  • eDeposit appoints Robert R. Craig as CEO. Come see its live demo at FinovateSpring May 8 and 9 in San Francisco.
  • Former Morgan Stanley CEO, John Mack, joins Lending Club's board of directors.
  • NY Times Bucks blog covers SimpleTuition's SmarterBank.
  • Social Money announces partnership with ICICI Bank in India.
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.

Information services company Lead411 published its list of 80 Hottest San Francisco companies yesterday. The companies were selected from a list of 2600 fast growing, privately held companies in the San Francisco area. 

Three out of 80 companies listed are Finovate alumni:

Thumbnail image for Expensify.jpg

To be selected, companies needed a 100% increase in revenues over the past two years or $5 million+ in funding in the past two years.

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 and I will add it.
mFoundryandMasterCard.jpgOne week after mFoundry formed a partnership with MasterCard, they announced an $18 million investment from MasterCard, along with Intel, FIS, and Motorola Mobility:

"The capital will be used to fund the development of new payments-related mobile products and services targeted at financial institutions and mobile network operators. mFoundry will also use the proceeds to support the expansion of their existing and profitable mobile banking business."

mFoundry will continue to work closely with FIS on mobile banking opportunities, but will also work with MasterCard, Intel, and Motorola Mobility on payments innovations.

To learn more about mFoundry and MasterCard, watch mFoundry's FinovateFall 2010 demo and MasterCard's FinovateFall 2011 demo.
Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg
  • P2P Lending News reports Prosper & Lending Club issued $37.4 mil in loans in November.
  • Trade Streaming interviews Rob Foregger, co-founder of Personal Capital, on the future of online investing.
  • mFoundry receives $18 mil in growth capital from MasterCard, Intel, FIS, and Motorola Mobility.
  • Bank Systems & Technology looks at how USAA uses Yodlee to aggregate accounts and power its PFM.
  • SavvyMoney (Formerly DebtGoal) launches new site, adds Jean Chatzky to team.
  • Steve Shivers, doxo CEO, speaks up about the potential cuts to the US Postal Service.
  • Credit Unions see positive results from Mortgagebot PowerSite technology.
  • Q2ebanking ranks on The Austin American-Statesman's List of Top Workplaces.
  • Zecco unveils its new Trading Center.
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.
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  • MasterCard and mFoundry executives discuss partnership.
  • The Silicon Prairie names Dwolla number 1 startup in DesMoines, looks for a number 2 startup following the "Dwolla-trajectory."
  • Simple is slowly sending out a few dozen invites at a time.
  • Prosper announces its support of UK P2P Finance Association.
  • The Social Lending Network shows off Lending Club's Trading Platform.
  • Bloomberg Businessweek lists Expensify as an app that lets you work like an executive.
  • peerTransfer partners with Nelnet Business Solutions, provider of campus commerce services.
  • Boku, SecondMarket, & Lending Club listed in Forbes Top 20 Private Companies.
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.

Mobile banking solutions provider mFoundry announced a partnership with MasterCard yesterday. 

The new alliance will enable mFoundry to provide its network of over 500 financial institutions with MasterCard's NFC-based PayPass technology. 

Thumbnail image for AndroidPayPassApp.jpg

To learn more about mFoundry and MasterCard, watch mFoundry's FinovateFall 2010 demo and MasterCard's FinovateFall 2011 demo.

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  • Bank Technology News lists ActivePath, Cardlytics, and PayPal as 3 of the top 10 tech companies to watch.
  • mFoundry powers First Hawaiian Bank's m-banking.
  • The Houston Chronicle examines how Dwolla helps consumers give money to friends & family without exchanging cash.
  • Mixergy interviews Matt Fellowes, CEO of HelloWallet, to discover how it went from 0 to 300K subscribers in 5 months.
  • Plastyc receives over $1.2 mil in new funding from undisclosed investor.
  • Acculynk forms International Internet PIN Acceptance Consortium with major e-commerce merchants.
  • Taulia's billFLO to continue service beyond December 1 shutdown date.
  • Continuity Control doubles 3rd quarter revenue, partners with BancVue.
  • PeerTransfer partners with Tuition Management Systems.
  • MasterCard invests in mFoundry to bring PayPass to mobile phones.
  • Dwolla now free for transactions under $10.
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.
This week, Deloitte announced the North America 2011 Technology Fast 500 winners. The list encompasses* multiple industries and ranks companies based on their 4-year revenue growth percentage (2006 to 2010).

Here are the Finovate Alumni listed in order:
Thumbnail image for SecondMarket.jpg

Rank: 84
Headquarters: New York, NY
Founded: 2004

Rank: 105
Headquarters: Sausalito, CA
Founded: 2004

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Rank: 425
Headquarters: Mountain View, CA
Founded: 1998

To learn more about these companies, watch SecondMarket's FinovateStartup 2009 demo, mFoundry's FinovateFall 2010 demo, and Google's FinovateFall 2011 demo.
*Methodology: In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Thumbnail image for PayPalLogo.jpgThis morning at the BAI Retail Delivery conference, I met with Dan Schatt from PayPal to get the inside scoop on its financial innovations. Here's what I found out:

1) It is introducing P2P payment capability with financial institutions. It is now live with USAA and will soon be developed for BancVue's network of nearly 1300 community banks.

2) It has reached an agreement with mFoundry to bring mobile solutions that bring a native app experience to customers located all over the globe. 

3) It has teamed with NCR and S1 to allow customers to send real-time P2P payments directly from ATMs to another individual with a PayPal account.

4) It is partnering with MeridianLink to allow new bank customers to fund their online bank accounts by transferring funds directly from their PayPal account.

5) It has formed a relationship with ezRez Software that, starting next year, will allow consumers to use rewards points and travel miles as a "fluid currency" and deposit that money into their PayPal account. United Airlines customers will be the first to have access to this service through the MileagePlus program.

PayPal will be publishing the details about these exciting developments tomorrow, Thursday, October 13, and I will link to it here

To learn more about PayPal, BancVue, and mFoundry, check out PayPal's FinovateSpring 2011 demo here, BancVue's FinovateSpring 2011 demo here, and mFoundry's FinovateFall 2010 demo here.
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  • Hastings Mutual Insurance Company selects Identity Theft 911 to offer Security Breach Response Coverage.
  • Andera acquires oFlows to "deliver the whole enchilada."
  • mFoundry opens office in San Francisco.
  • Backbase announces Netherlands insurance co-op Univé, has chosen Backbase software. 
  • USA Today lists TradeKing as an option to help beginner investors.
  • Clairmail enhances adoption-services program with new benchmarking service.
  • Q2ebanking enhances mobile banking solution, supports clients' mobile strategies.
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.
The BAI Retail Delivery conference begins tomorrow with 29 Finovate alumni participating in sessions and/or exhibiting on the trade show floor.

Session Speakers
  • Tuesday, Global Game-Changer Session
    Speaker: Jim Taschetta from FreeMonee
  • Wednesday, Technology for Business Summit 
    Speaker: Mitch Jacobs from On Deck Capital
  • Wednesday, Technology for Business Summit Session 
    Speaker: David Eads from Kony Solutions
  • Thursday, Technology for Business Summit Session
    Speaker: Eric Connors from Yodlee
  • Thursday, Marketing & Product Management Summit Session 
    Speaker: Rod Witmond from Cardlytics
BAI Mobile Link
Mobile Link Panel Discussions
Solutions Theatre
Jim Bruene and I ( will be in attendance and will update the blog and Twitter with new developments throughout the event. 
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Clairmail chose Jigsaw's Data Cloud to help its mobile banking client improve marketing and receive more leads. During vendor trials it saw an increase in productivity, response rates, sales, and marketing effectiveness. Link

Clovr Media 
Boston Business Journal reported that Clovr Media is preparing for the launch of its credit 
card-linked offers at the end of the fourth quarter by hiring 12 new staff members. Link

Confident Technologies
Confident Technologies released a two-factor mobile phone authentication platform that requires the user to memorize images. Because this second factor security is not stored on the user's device, it mitigates the opportunity for Zeus-in-the-middle attacks. Link

The Forbes blog looks at Currensee for social foreign exchange investing, paying special attention to its rapid growth rate. Link

The Entrepreneur blog compared doxo's document storage and online payment system to PayPal, citing that the cost to collect payment is less than half of a typical PayPal transaction. Link

The Pittsburgh Business Times interviewed Jeff Mullen, CEO of Dynamics, Inc on the naming of the company. Link

  • The Forbes blog looked at eToro for social foreign exchange investing, paying special attention to its rapid growth rate. Linketoro.jpg
  • The World Finance Awards selected eToro as Best Social Trading Network, Best Mobile Trading Platform, and Best Trading Software Provider. Link
Geezeo was selected by The Coca-Cola Family Credit Union to provide a PFM solution and integrated marketing platform. Link

Ideon Financial Solutions
Ideon Financial Solutions was granted a patent for its Choice Savings technology, a system that allows financial institutions to provide their clients with a variety of customizable savings products. Link

Identity Theft 911
Identity Theft 911 partnered with Arabella Protection Insurance Company to offer commercial data breach services like preparedness and response. Link

TechCrunch reported that Intuit launched a QuickBooks mobile app for the Android that 
allows small businesses to access their data from QuickBooks Pro, Online, and Premier. Link

Lending Club 
  • American Consumer News provided a comparison guide for borrowers and lenders to Prosper's and Lending Club's services. The benefits included high rates of return and flexibility. Link
  • Brian Wong's Database blog looked at what its like to invest in Lending Club. He presented his opinion on the usability of the service. Link
EverBank, a $7 billion Internet bank, announced that it is seeking to be an early adopter of Metavante's customer information management product, a product that was built from the Temenos Core Banking Platform, a result of the partnership formed in 2007. Link

NEFCU added a mobile app for the Android, using mFoundry's technology to offer account balances, check history, transfers, and bill pay. This is in addition to its existing apps for Blackberry and the iPhone. Link

1st Advantage Federal Credit Union, a major Virginia credit union, announced that it will use
 Micronotes' cross-sell engine, KulaX, to improve lead generation. Link

American Consumer News provided a comparison guide for borrowers and lenders to Prosper's and Lending Club's services. The benefits included high rates of return and flexibility. Link

Syphr was among 6 out of 90 fintech companies selected by the Fintech Innovation Lab who will present their innovations to Wall Street venture capitalists. Link

AOL's Daily Finance highlighted Chargesmart's secondary gift card market that allows 
consumers to pay for bills in exchange for gift cards. Link

Family Wealth Report stated that CheckFree is leading the way in UMA processing. Link

Credit Karma 
  • CBS Money Watch discussed Credit Karma's data on America's debt. Link
  • Fox Business News listed Credit Karma's credit score simulator tool as a 15-minute fix for your credit score. Link
Practical Ecommerce listed doxo as one of 17 apps for productivity. Link

  • Dwolla hit $1 million in payments per day and Ben Milne, CEO, shared a sneak peak of future plans. Link
  • Ace Community Credit Union provided customers with access to Dwolla through its site.
  • Dwolla CEO Ben Milne explained why starting a business in Iowa isn't hard. Link
  • Dwolla introduced a new Autoload feature. Link
  • Dwolla was listed on The Next Web as one of eight awesome ways to pay with your phone. Link
eToro Partners began testing a new foreign exchange affiliate tool called Custom Links. Link

  • The Info.rmatics blog testified to Expensify's ease of use. Link
  • ipCommerce showcased Expensify's innovation. Link
Mango Money added GoalMine to its list of services. Link

HelpMyCash revamped its website to be more consumer-friendly. Link

IDTheft 911
Barnstable County Mutual Insurance Company selected Identity Theft 911 for its LifeStages service. Link

iPay Technologies 
TechCrunch reported that Bill Ready, former President of iPay Technologies, joined Accel Partners as an Executive in Residence. Link

Lending Club 
  • ATM Options discussed seven good reasons to invest through Lending Club. Link
  • Netbanker discussed Lending Club's record high growth. Link
  • Lendio added TAB Bank to its network of lenders. Link
  • Reuters reported that Swift Capital and Lendio partnered to help small businesses. Link
  • American Banker considered Bank of America's recent investment in mFoundry. Link
  • Credit Union Journal discussed Colombia Credit Union's adoption of mFoundry's mobile banking. Link
  • introduced a manual transactions feature for its iPhone app. Link
  • TechCrunch reported's debut of a new feature that tracks bills and sends reminders. Link
  • Monitise signed over 6,000 users in Nigeria to a mobile payments trial. Link
  • TechMarketView discussed Monitise's financial success. Link
Yahoo! Finance reported peerTransfer's growth in international student payment processing. Link

  • Netbanker discussed Prosper's record high growth. Link
  • Prosper raised its interest rates by 2.5 percent. Link
SmartyPig introduced its back-to-school cash giveaway contest. Link

ThreatMetrix announced its upcoming user conference October 9th through 10th. Link

TradeKing launched a new video series to help consumers understand options trading. Link

tyfone.jpg described Tyfone as a major player in mobile payments. Link

Forex Promos shared an interview with Mike Sha, Wikinvest CEO. Link

Reuters reported that Xero agreed to acquire Paycycle, a payroll company. Link

Wealth Building Tips and Strategies blog shared Zecco's options trading video series. Link

ZimpleMoney adjusted its services in response to the Dodd-Frank reform. Link

Last week, AlwaysOn released its 2011 AlwaysOn Global 250 Top Private Companies List that represents the top emerging companies Worldwide. Twelve Finovate Alumni were selected:
  • BillFloat
  • Bling Nation
  • Boku
  • Cardlytics
  • ClairMail
  • Expensify
  • IDAnalytics
  • Lending Club
  • SecondMarket
  • Wikinvest
  • Wonga
  • Yodlee

In other Alumni News:

Aptys Solutions
Aptys Solutions.jpg
Aptys Solutions announced that the ACH functionality in its PayLogics payment platform provides same-day settlement. Link 

Balance Financial
  • Balance Financial launched Balance Certified Pro, a new software that is geared toward professionals. Link
  • Balance Financial released an iPhone App. Link
TechCrunch reported that BillGuard's "Anti-virus for Bills" is now completely free for users. Link

CNNMoney's article, Simplify Your Retirement Savings, pointed to BrightScope to provide a clear understanding of retirement savings. Link

ChargeSmart announced that its Bill Payments customers can now pay many of their utility bills with an American Express card. Link

Continuity Control
Continuity Control raised $1.1 million in financing from convertible promissory notes and warrants. Link

The Miami Herald reported that Cortera's Risk Data and Reporting is now an SAP-endorsed business solution. Link

Cortal Consors
Institutional Investor ranked Oliver Le Grand, CEO of Cortal Consors, number 13 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link

Credit Karma
Credit Karma's new feature, Credit Alerts is available for free to the first 200 people to click the link. Link

Credit Sesame
The Hands On Home Buyer blog recommended Credit Sesame for its interactive property taxes tool. Link

The Business Insider reported that Currensee plans to launch its Trade Leaders program in China. Link

  • The E-News publication, Business Record, commented on Dwolla's positive impact on Iowa's startup culture. Link
  • Financial Plus Credit Union adopted Dwolla's FiSync integration. Link
Dynamics revealed its angel investors in Series A and Series B funding rounds. Link

Guardian Analytics
  • American Banker reported that Guardian Analytics is planning to launch an outsourced fraud prevention service that will help financial institutions meet new FFIEC guidelines. Link
  • Guardian Analytics introduced its FraudDESK service to provide fraud analytics support to financial institutions. Link
  • Guardian Analytics is hosting a free webinar on Tuesday that will explore FFIEC guidance. Link
iPay Technologies
iPay Technologies helped Generations Community Federal Credit Union increase bill pay adoption and its number of transactions. Link

Lending Club
  • San Francisco ABC News Channel 7 explained the benefits of P2P loans from Lending Club. Link
  • Finextra news blog discussed Lending Club's success. Link
  • American Banker reported that, in June, Lending Club saw an increase of 7% in loans originated that totaled a record $20 million. Link

Lodo Software
The Silicon Prairie News reported that Lodo Software is seeking to raise $5 million in a round of Series D funding. Link

Columbia Credit Union announced that it deployed mFoundry's mBanking, a mobile banking platform. Link

MSN Money reported that Mitek Systems began a NASDAQ market listing on July 14th, and is trading under the symbol MITK. Link

  • CNBC reported that Monitise's ReliaCard will be offered to U.S. Bank's Visa cardholders in some states. Link
  • Monitise, US Bank, and FIS announced that they are planning to offer a mobile app for Visa's ReliaCard users. Link
  • San Francisco's ABC News Channel 7 explained the benefits of P2P loans from Prosper. Link
  • Finextra news blog discussed Prosper's success with its P2P lending service. Link

Q2ebanking's director of security solutions, Ward Howell, published an article detailing a Credit Union's perspective of the FFIEC guidelines in The Credit Union Times. Link

Receivables Exchange
Institutional Investor ranked Justin Brownhill and Nicolas Perkin, Co-Founders of The Receivables Exchange, as number 42 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link

Standard Chartered
Institutional Investor ranked Jan Verplancke, CIO of Standard Chartered, as number 37 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link

TILE Financial
TILE Financial.jpg
Daily Finance interviewed Amy Butte, CEO of TILE Financial. Link

TradeKing announced the public availability of its API. Link

CoVantage Credit Union chose to implement Tyfone's mobile wallet solution. Link

  • Zopa founder Giles Andrews was interviewed on BBC's The Bottom Line. Link
  • Finextra news blog discussed Zopa's success as a P2P lending service. Link

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AcceptEmail partnered with WorldPay to launch an e-billing and online payment service. Link

GeekWire interviewed Balance Financial CEO, Devin Miller. Link

BancVue executives won Ernst & Young Entrepreneur of the Year. Link

BankOns referred to BankOns as the new GroupOn. Link

BillShrink was featured in The New York Times. Link

Forbes reported on BrightScope's list of exchange-traded funds held in America's 401k plans. Link

CheckFree expanded its functionality to support account-to-account and peer-to-peer transfers. Link

Clairmail joined the RSA Secured Partner Program to provide secure access to mobile banking. Link

  • doxo CEO explained paperless billing in a video interview, highlighting the mobile app. Link

  • doxo was featured on the Top Productivity Apps website. Link

  • Northwest Innovation reviewed doxo's mobile app. Link
TechCrunch reported that Dwolla hit a milestone of $1M in transactions per week. Link

  • Business News Daily interviewed Enloop CEO, Cynthia McCahon, about creating a "living business plan". Link

  • Huffington Post spotlighted Enloop. Link
eRollover launched an online solution for financial advisors to grow practices. Link

eWiseThumbnail image for eWise.jpg
eWise announced its partnership with Affirmative Technologies to speed the adoption of alternative payment methods. Link

Kiboo launched a public site called "Know Your Money".  Link

Lending Club
  • Lending Club posted a video of their five-word acceptance speech at the Webby Awards. Link

  • The Wall Street Journal noted Lending Club as leading the way in P2P lending. Link
  • mFoundry helped Starbucks build an app for Android. Link

  • mFoundry passed the 400 customer milestone. Link
Mitek's mobile check deposit was cited as the number one feature that would cause you to switch banks. Link

  • ComputerWeekly discussed the survey Monitise conducted on mobile banking. Link

  • Forbes discussed Monitises' deal with Visa. Link
  • peerTransfer is hosting a free webinar on international student payment processing this Wednesday, June 22. Link

  • peerTransfer won the Innovation Award from Massachusetts Innovation & Technology Exchange. Link
ProsperThumbnail image for Prosper.jpg
  • Prosper announced that it is giving away an iPad2 to new investors. Link

  • The Wall Street Journal noted Prosper as leading the way in P2P lending. Link
SafetyPay was selected by BorderJump as its preferred payment solution for cross border transactions. Link

Fox Business News suggested using as a tool to help "pump up" savings. Link

Tagit helped Commonwealth Bank launch its first mobile app. Link

  • ThreatMetrix announced its cloud-based fraud prevention platform. Link

  • ThreatMetrix launched "ThreatMetrix Fraud Facts," a free downloadable report. Link
  • Tyfone was awarded an NFC over-the-air and over-the-wire seminal patent. Link

  • American Banker reviewed Tyfone's mobile payment patent. Link

  • NFC Rumors looked at how Tyfone uses SD cards to enable NFC transactions. Link

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  • Andera launched FortiFI, a new fraud prevention system. Link 
  • Andera CEO Charlie Kroll discussed the release of FortiFI. Link 
  • ChargeSmart launched ChargeSmart Direct to provide customers with additional access to support staff. Link 
  • Fox Business News highlighted ChargeSmart and PlasticJungle's gift card trading service as a way to make savings fun. Link   
Check Point Software Technologies 
Check Point announced the 2012 version of ZoneAlarm. Link 

  • Forex Crunch outlined the benefits of Currensee, describing its profitability as "significantly high". Link 
  • The Street highlighted Curensee as a startup that "rocks" the financial house. Link 
  • Chicago Tribune discussed doxo's step toward a paperless society. Link 
  • TechCrunch & VentureBeat featured the launch of doxo's mobile app, a mobile digital filing cabinet. Link  and Link 
  • Macworld took a closer look at doxo's new app. Link   
  • Dwolla released Grid, a feature that protects personal user information. Link 
  • The Street highlighted Dwolla as a startup that "rocks" the financial house. Link 
  • The Next Web interviewed Dwolla about its API. Link 
StartUp Beat profiled Enloop. Link

eWise raised $14 million in funding. Link

CNNMoney named Expensify as one of five best apps for businesses. Link

FreeMonee examined FreeMonee's gift network. Link

Ftrans raised $650,000 in equity financing. Link

GoalMine won The Core Underbanked Innovators Challenge at the 6th Annual Underbanked Financial Services Forum hosted by Core Innovation Capital. Link

Jemstep launched a new version of its service that features many improvements. Link

The Washington Post reported that mFoundry's mobile deposit service is its most requested feature. Link

  • Mitek Systems was granted 4 more patents for its mobile deposit feature. Link 
  • Bank Technology News discussed Mitek's new patents. Link 
  • Monitise launched its services in India. Link 
  • The Wall Street Journal covered Monitise's 5-year agreement with Visa. Link 
  • TechCrunch examined Monitise's recent deal with Visa. Link  
Prosper raised $17.5 million in funding from investors. Link

The Street highlighted RobotDough as a startup that "rocks" the financial house. Link

CNBC interviewed Barry Silbert, CEO of SecondMarket, regarding its role in IPOs. Link

Silver Tail Systems 
Silver Tail Systems raised $20M in a Series B funding round. Link

Striata partnered with POCiT to enable bill payments. Link

Sybase was named the most successful database software vendor in China. Link

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ThreatMetrix collaborated with USA ePay to provide fraud prevention to online retailers. Link

TradeKing partnered with CoolTrade for automatic stock trades. Link

UBank voiced that it will change the banking industry by using the web and mobile technology. Link

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BBC's Radio 2 interviewed Zopa CEO Giles Andrews about P2P lending. Link 

To follow Finovate alumni news in real time, follow us on Twitter here and Doxo recognized as "AlwaysOn OnDemand 100 Top Private Company."

Bling Nation launches Social Connect platform. The platform allows Bling users to connect online with social rewards features from their favorite merchants.

Bobber Interactive garners $1.1 million Series A funding round. This funding round was led by PEAK6 Investments.

Capital Access expands remittance program to include Puerto Rico and 21 more countries. The Capital Access platform is designed for "daily" remittances and revenue-sharing programs.

COCC selects mFoundry as mobile banking partners. The company has selected mFoundry's mobile INSIGHT product for multi-mode mobile banking services. launches "Quest for Money" online game. The game is intended for middle school students and is available to play online.

Morningstar to provide mutual fund Platform to eRollover. eRollover users will have access to Morningstar's historical information and comparison tools for mutual funds.

Silver Tail Systems wins Emergent Technology Award. The award, given by the Merchant Risk Council, is rewarding the company's innovative security systems.

Sybase argues NFC is "way overhyped." In VentureBeat Sybase President Marty Beard argues that it isn't proven that NFC really is better than the other technologies available.

Xero launches integrated payroll solution. 
To see Finovate alumni company news in real-time, follow our feed on Twitter here.

Betterment and partner for "set it and forget it" investment accounts. The accounts have no minimum balance.

Bling Nation rolls out the "fan connect" platform in Chicago. The Chicago rollout is part of a broader national rollout to come.

Cardlytics and NetSpend partner to bring reward offers to the underbanked. The partnership will create opportunities for targeted offers to reach users of prepaid debit cards.

Cardlytics wins Red Herring Global 100 winner. -- Cardlytics is a pioneer in in-statement merchant-funded rewards.

CashEdge and NYCE join forces to provide person to person payment technology. Popmoney will now be available to 3,000 NYCE financial institution clients.

ClairMail announced that revenue tripled in 2010. The company attributes the growth to the launch of their mobile connectivity architecture in early 2010.

DebtGoal launches The new site acts as the flagship domain and provides a tools and content supporting debt reduction.

eRollover launches Advisor Center. Ask retirement questions online in the new Advisor Center.

Fiserv and WorkLight partner to make mobile application deployment and development faster.

Frost and Sullivan names mFoundry "Entrepreneurial Company of the Year" in the mobile banking category.

Guardian Analytics announces 150%  growth. The company attributes the rapid growth to the success of its FraudMap technology.

Jack Henry's launches new services to help small businesses accept online payments.

Lending Club increased the maximum loan amount from $25,000 to $35,000.

mFoundry launches standalone mobile deposit solution that can be implemented at a financial institution within 30 days.

Intuit's Mint and TurboTax team up to make taxes easier.

Mozo launches Money Q & A portal where users can ask questions or answer questions posed by others.

On Deck Capital secures $15 million Series-C funding. The funding round was led by SAP Ventures.

Plastyc closes $2 million strategic investment from Core Innovation Capital. Core Innovation Capital is the investment partner for the Center for Financial Services Innovation.

Silver Tail Systems announces the addition of a user-specific monitoring system. adds sixty new online retailer cash-back partners, and six more gift card partners. Expedia,, Cabela's and Babies R Us are included in this latest offering.

SmartyPig's cash rewards card wins Paybefore award twice.

The Receivables Exchange partners with Biz2Credit, an online loan-matching portal.

Alumni News -- Week of January 17, 2011

To see Finovate alumni company news in real-time, follow our feed on Twitter here

Acculynk brings PaySecure PIN security to mobile devices. - The mobile PIN payment system should be available to consumers in first quarter 2011.

AlphaClone is mentioned on Wall Street Journal front page article, "Pack Mentality Grips Hedge Funds." - The story ran Jan 15, 2011 and details the similar strategies in hedge fund management.

Backbase opens a New York City office to house field operations staff and help to serve East Coast financial institutions. partners with Track1099 for easy, paperless IRS-1099 filing. - Users can report independent contractor payments in two easy steps direct from their page.

iPay Technologies launches Biz 2.0 Crossover to help small businesses convert to business online bill payment. - The system identifies businesses using consumer online bill pay and targest them for upgrade to the business version.

Kasasa adds Neighborhood Credit Union to the fold. - NCU is the largest credit union in the Dallas-Ft. Worth area.

Kony solutions raises $19.1 million for mobile application platform. - Kony creates mobile applications for numerous industries including banking and investments.

Frost and Sullivan names mFoundry "Entrepreneurial Company of the Year" in the mobile banking category.

Mint and TurboTax team up to make taxes easier. - Mint allows for tagging of deductible transactions and free e-filing via Turbo Tax.

SilverTail Systems is hosting a Webinar on Jan 27 covering the differences between ecommerce and online financial Fraud. --

SmartyPig's cash rewards card wins Paybefore award twice. - Congratulations to Smartypig for winning in two categories, "best general purpose reloadable program" and "best consumer value in prepaid."

Joseph Leone, former vice chairman and CFO of CIT Group, joins the board of advisors at The Receivables Exchange. - Leone is a nationally recognized expert in commercial lending.

To see Finovate news updates in real-time, follow our feed on Twitter

Backbase explores mobile banking in its fall webinar series.

BlazeMobile creates smart payments sticker.

BrightScope releases top 30 retirement plans.

Capital Access special report on "Black Friday" and small business sales data.   

SunTrust has added the "Transfer Now" product suite from CashEdge including person-to-person and me-to-me transfers.

ClairMail and Cardlytics partner to provide transaction marketing opportunities. 

Expensify is hiring for multiple positions. - The company is currently looking for Web developers and computer engineers at several levels.

FIS launches innovative new mobile banking product. -- Users can establish mobile account management with their debit card, no online banking signup needed.

Geezeo selected by University Federal Credit Union as PFM provider.

GoalMine hosting cash contest via Facebook to spread the word.

Kapitall closes series A funding round. -- The company did not release funding amounts or sources.

Kasasa on "green" community banking. -- See what a green bank looks like.

Seventy percent of US Airlines have migrated to Kony Mobile-powered travel apps.

Lending Club featured in San Fransisco Chronicle, Black Enterprise, and PBS.

mFoundry deploys Washington Trust Bank's mobile banking app. -- This makes 260 customers so far using the mFoundry mobile applications.

Congratulations to Mint founder, Aaron Patzer, winner of a TechFellow Award for General Management.

Mozo powering new "Compare, Ditch and Switch" campaign. -- The services allows Australians to shop around for better banking services.

Just in time for the Holidays, PopMoney gift cards at

SmartyPig launches cash rewards card with only a one-time activation fee of $4.95.

Victrio receives $5 million investment for voice-printing technology.


We're pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.

This fall's NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.

Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition! 

(P.S. If you're interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)


Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at

Third-party Blippy application released. The new application, Blipped, was released by Mindsmack.

BrightScope launches BrightScope Beacon. Beacon will provide detailed analysis of the Defined Contribution marketplace.

Dynamics Inc. releases "dynamic" cards to prevent credit card skimming and card number theft.  Also, the company is featured in a flattering page-one business story in Friday's New York Times

Firethorn joins up with Pennsylvania State Employees Credit Union to offer mobile banking. PSECU's 370,000 members will now have mobile banking service with Firethorn's mobile application.

Geezeo partners with Ping Identity for secure sign-on. Geezeo users will now have access to secure access via single sign-on.

KaChing gets $100 million under assets and changes name to Wealthfront. Read more at TechCrunch about the company's change in identity.

Kapitall's iPad app makes the top 10 in the iTunes "free finance" category. reviews Kapitall. Bloomberg says Kapitall is "opening the financial services business to a broader range of investors."

mFoundry offers innovative mobile banking "adoption guarantee" to new customers. launches social media contest. The "Drop Your Debt" challenge offers cash prizes for dropping debt. unveils new tools including home-value estimates from Zillow and a life-insurance calculator. now supports Harvest integration for time tracking. Billable hours, payroll and more can be tracked with the Harvest application which now integrates seamlessly with Outright. adds one- and five-year terms to its peer-to-peer loan offerings.

Another innovative social media contest from SmartyPig. SmartyPig's $20,000 gift card giveaway begins Mon., Oct. 25.

Orange County Credit Union adopts Tyfone Mobile Payments. Orange County Credit Union, founded in 1938, has 79,000 members and $950 million in assets.

ZashPay and PopMoney profiled in the San Francisco Chronicle as powerful alternatives to PayPal. See the pros and cons of a number of different mobile money-transfer services.

Alumni News -- Week of September 13, 2010

Here are the news updates for the past week. To view our updates in real-time, follow us on Twitter here.

Jack Henry Banking Group announces standalone P2P payment solution. The payments solution will be powered by iPay Technologies, which was acquired by Jack Henry in June of this year.

Lending Club investors set a new single-month record of $12 million in August!

Lending Club wins the Web Award for best investment site. -- The award is given by the Web Marketing Association for outstanding achievement in Web development.

First Tennessee Bank and mFoundry deployed a fully integrated mobile banking platform in less than 60 days. First Tennessee's middleware provider was Finovate alum Fiserv. The three firms worked together to rapidly deploy the new banking platform. Results indicate that the launch went smoothly.

SafetyPay partners exclusively with largest bank in Costa Rica. -- SafetyPay now has an exclusive agreement with Banco Nacional de Costa Rica.

SecondMarket featured in New York Times article. The story, "To Create Jobs, Nurture Startups," featured SecondMarket as a startup, and ran on Sept. 13.

SmartyPig unveils its "race out of debt" contest giving away almost $5,000. The contest runs through September 27, 2010.

WorkLight and SAGE partner to build mobile money applications.

See British Peer-to-Peer lender on television. The program was broadcast on ITV London Tonight.

Here are the news updates for the week of August 22, 2010. To view in real-time, follow us here.

Fiserv announces the launch of Remote Deposit Capture, a remote deposits solution.

Check out Geezeo's summer growth spurt--wow! More than a half million new credit union members now have access to Geezeo's unique engagement-banking tools.

Jemstep rolls out activation to closed-Beta users. Pre-registered users now have access to the first Jemstep release.

Congratulations to mFoundry! Their platform crossed the 1 million users mark this week.

SecondMarket partners with StockTwits. Inside the SecondMarket platform, StockTwits Twitter conversations about the company will also appear.

Silver Tail Systems hosts webinar on security through behavior analytics on September 2. The event is co-hosted by WhiteHat Security.

Tyfone receives a $5 million venture capital investment. Tyfone provides mobile phone banking solutions.

Wikinvest launches app for iPhone. It is free in the app store.  

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