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Alumni News-- February 26, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFeedzai releases API updates to its fraud detection technology.
  • Bank of the West adds Snap-to-Pay functionality from Fiserv to its mobile banking app.
  • authenticID partners with Sionic Mobile to bring catfishAir to ION Rewards and ShopGive consumer apps.
  • Azimo expands its online money transfer service to Romania.
  • Fastacash teams up with Visa Europe, enabling P2P payments via social network for users of Visa Direct.
  • Finovate Debuts: InvestUp Launches UK Crowdfunding Supermarket.
  • PYMNTS looks inside MasterCard's Masters of Code Hackathon.
  • ProfitStars launches EPS SmartPay Express to enable FIs to provide online payment and donation services for business customers.
  • PayPal and eBay prepare for breakup later this year.
  • Boku launches phone-on-file technology to remove friction from online transactions.
  • TransferWise marks US launch with #nothing2hide semi-naked march through New York financial district.
  • Fintech Finance's video production showcases FinovateEurope 2015 action.
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.

Alumni News-- February 18, 2015

  • Mitek launches Commercial Mobile Deposit Capture, bringing MDC technology to the enterprise.
  • Malauzai reports doubling revenues, growth of customer base to more than 300 community banks and credit unions.
  • D3Banking adds to leadership team with four new appointments.
  • Bluefin Payment Systems to provide Decryptx point-to-point encryption (P2PE) solution to Heartland Payment Systems' clients.
  • Temenos purchases Akcelerant to accelerate growth in North America.
  • Lending Club partners with BancAlliance, a national consortium of 200 community banks.
  • Fast Company lists BehavioSec, Ripple, Braintree, Expensify, NICE and BlueVine as top innovative companies in the Money category
  • PYMNTS discusses retail's adoption of mPOS with Bluefin Payment systems.
  • ayondo clients now receive free access to real time analysis tools from StockPulse.
  • Kantox using Apply Financial's API to enhance customer service and enable more integrated international payments.
  • TechFlash interviews Payfone CEO and co-founder Rodger Desai.
  • Stockhouse: TIO Networks poises to capture major portion of mobile payment market.
  • USA Today highlights Tuition.io for student debt management.
  • Code CU to use Insuritas for insurance agency solution.
  • Coinbase Android and iOS apps now available in 11 new languages.
  • Global Financial Private Capital selects HiddenLevers to help advisors grow their practice.
  • Tradier's API takes 15 million production calls in Jan, a 33% increase in a single month.
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.

Alumni News-- February 4, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgIntelligentHQ features TransferWise and CurrencyFair in its look at the "currency transfer revolution."
  • ayondo hires Peg Reed as Senior Vice President of Business Development.
  • School of Bookkeeping reviews Kashoo Simple Cloud Accounting.
  • Fintech Monthly focuses on recent fintech fundraising including recent investment in TransferWise.
  • ProfitStars adds billpay, invoice management, and mobile banking functionality to its ICBA Preferred Service Provider program.
  • Temenos teams up with Polytech Ventures to launch the first Swiss fintech incubator.
  • Expensify adds 4,000 new customers in 2014, including  the BBB, ZenDesk, and Yahoo!  
  • Forbes features Currency Cloud's cross border payment API.
  • Kony's partners now offering apps on its business mobile app marketplace.
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.

Alumni News-- February 3, 2015

  • Finovate-F-Logo.jpgProfitStars adds Banno Mobile solutions to the Independent Community Bankers of America (ICBA) Preferred Service Provider program.
  • Lending Club to serve as exclusive POS financing for Alibaba.com's of U.S. business buyers.
  • Visa CEO selects NBCUniversal's Vasant M. Prabhu as CFO.
  • Fidelity Investments Acquires eMoney Advisor for Reported $250 Million.
  • The Philippine National Bank deploys core banking solution and EFT switching solution from FIS.
  • ABC2 News in Baltimore talks with Robb Gaynor of Malauzai Software about mobile banking apps.
  • Thinking Bigger profiles Blooom and its new way to 401(k).
  • The Costa Rica Star features money transfer service, Azimo.
  • Financial Advisor's look at assets managed by roboadvisors highlights Wealthfront, Financial Guard, Personal Capital, and Betterment.
  • Jumio enhances capturing technology for its ID card scanning service, Netverify.
  • Discussion of the "positive powers" of fintech in The Guardian features ACI Worldwide, Azimo, TransferWise, Ripple, and Blockchain.
  • Check out our final Sneak Peek before we launch into a record-breaking FinovateEurope.
  • CSO Online features Nymi, Myris, and EyeVerify.
  • Kabbage Funding More Than $3 Million per Day.
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 Alums Populate the FinTech50

Looking for the most innovative startups in fintech? The FinTech50 is a great place to start.

FinTech50_homepage.jpg
It also turns out to be a great place to find Finovate alums. Of the 50 companies recognized by FinTechCity's panels of judges as being "game-changers transforming the future of finance," nearly half are alumni of Finovate conferences - including our upcoming event in London.

Here is the list of alums in alphabetical order:
According to Chris Skinner, who was one of the panelists, more than 700 companies competed for spots in the FinTech50. The selection panel included veterans of finance and technology from companies ranging from American Express and Google to Silicon Valley Bank and UBS. The FinTech50 winners were announced at an invitation-only event in London.

Speaking of London, Five Degrees, InvoiceSharing, Ixaris, mBank, and Trunomi will be in town next month, demonstrating their latest solutions at FinovateEurope 2015, February 10 and 11. More information on the event available here.
Thumbnail image for TransferwiseNewLogo.jpgTransferWise is starting off the year with a funding bang: the company has raised $58 million in a Series C round led by Andreessen Horowitz.

The investment takes TransferWise's total capital to more than $90 million. Existing investors Richard Branson, IA Ventures, Index Ventures, Valar Ventures, and Seedcamp also participated in the round.

Taavet Hinrikus, co-founder of TransferWise said: "Andreessen Horowitz's investment in TransferWise shows how ripe financial services are for disruption." 

"For too long, legacy providers' dominance of the market has allowed consumers to be hoodwinked into paying huge hidden charges for services as basic as currency exchange."

TransferWise_homepage_new2.jpg

Ben Horowitz, founder of Andreessen Horowitz, referred to this insight the discovery of "an important secret" and called TransferWise "uniquely prepared to pursue it." 

He added: "Not only is (TransferWise's) solution 10 times better than the old way of exchanging foreign currency, but it could not have come at a better time." Both Hinrikus and Horowitz pointed to the lack of innovation as a "massive opportunity" for companies like TransferWise.

The company plans to use the capital to drive global expansion. TransferWise is opening an office in the United States in February according to reporting by TechCrunch, and are looking to open offices in Germany and Austria in the first half of 2015, as well. The goal for the year is to open an additional 300 "currency routes."

TransferWise_FEU13_stageshot.jpg
(Above, left to right: Kristo Kaarmann and Taavet Hinrikus, co-founders of TransferWise at FinovateEurope 2013)

TransferWise enables money transfers between the U.S. and Canadian dollars as well as the euro, British pound, Swiss franc, and another 10 European currencies. Customers using the platform can also transfer these currencies into a number of Asian currencies including the Australian, Hong Kong and Singaporean dollars, and the Indian rupee. See the full list here.

A few metrics for TransferWise:
  • Launched in 2011
  • Headquartered in London
  • Staffs 250
  • Maintains more than 290 currency routes
  • Enabled customer transfers of £3 billion for a savings of £135 million
The company has been making headlines, as well, appearing in Motley Fool's list of fintech startups that can help consumer handle their money in 2015, and with its peers Azimo and CurrencyFair in a recent look at disruption in traditional money exchange from Forbes.com. In December, TransferWise was named one of  KPMG's Fintech Innovators of 2014

TransferWise demoed its technology as part of FinovateEurope 2013.

Alumni News-- January 26, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMIT Technology Review features Feedzai and Zumigo in a discussion on mobile authentication technologies.
  • Loan origination platform LoanLaunch (formerly Common Origination Platform) now available from Fiserv.
  • Experian partners with BillGuard to boost effectiveness of its anti-fraud solution, ProtectMyID.
  • Misys unveils FusionBanking Lending.
  • American Banker takes a look at the relationship between Google and Lending Club.
  • Kabbage named one of America's top 100 Most Promising Companies 
  • Coinbase to open the first regulated Bitcoin exchange in the U.S. 
  • Actiance announces support for IBM Verse and IBM Connections Social Cloud.
  • Credit Sesame launches iOS app with Siri integration in its credit monitoring feature.
  • Google Wallet partners with WePay to put its Instant Buy API in 200,000 e-commerce shops.
  • TransferWise Raises $58 Million in Round Led by Andreessen Horowitz.
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.

Alumni News-- January 12, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinancial Simplicity and T&C Consulting launch joint venture.
  • Bernard Lunn writes about the revolutionary "license as a service model" of Fidor Bank.
  • Forbes column on technology and community features Bright Funds.
  • ABS-CBN News highlights Toshl Finance among its "5 money moves for 2015."
  • Business Insider looks to TipRanks to find top stock pickers from 2014.
  • BillGuard, LoopPay, and TransferWise earn spots on Motley Fool's list of fintech startups that can help consumers handle money in 2015.
  • Open Bank Project is organizing 2 hackathons in Ireland (Dublin and Belfast) for Ulster bank. The first is in Dublin this month.
  • No Need to Fax: Kofax Launches E-Signature Solution, SignDoc.
  • Cachet Financial Solutions appoints Bruce Whitmore as New Executive Vice President and Chief Information Officer.
  • Bluefin Payment Systems partners with Industry Retail Group (IRG) to provide PCI-Validated Point-to-Point Encryption to IRG Clients.
  • AdviceGames CEO Diederick van Thiel, Talks About Gamification.
  • Mobile Commerce Daily reviews PayPal's new BlackBerry app.
  • DoughRoller interviews Blooom founder Chris Costello.
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.

Alumni News, December 19, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMoney Facts looks at how TransferWise helps consumers save on money-transfer fees.
  • Huffington Post features Matthew Goldman of Wallaby Financial in a conversation on credit card strategies for travelers.
  • PYMNTS.com interviews LoopPay Chief Technologist George Wallner.
  • A comparison between Stockholm and Silicon Valley in The Independent highlights Klarna.
  • Virtual Agent Chat checks in on post-acquisition IntelliResponse.
  • Cardflight's SwipeSimple joins MasterCard mPOS providers.
  • News.com.au reports: How Xero went from a scribbled figure on a serviette to a $2 billion company.
  • Crealogix and Meniga create digital banking and PFM Solution for BNP's Consors Bank.
  • peerTransfer named 2014 Winner of BostInno's 50 on Fire Award.
  • Forbes lists Holvi as 1 of 5 Finnish startups to watch.
  • Programmable Web considers how Open Bank Project's API brings more openness to banking internationally.
  • Ayondo launches ad campaign on two major German TV networks.
  • Business Insider features Betterment, Financial Guard, FutureAdvisor, Jemstep, Personal Capital, SigFig, TradeKing, and Wealthfront in a look at the growth of robo-advisors.
  • BrightScope releases its Top 30 401(k) Plans List.
  • Management Today profiles David Harrison, managing partner at True Potential.
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 Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

Draw up a list of the top fintech innovators of 2014. Got it? Now tell me how many of your top 50 companies are not only impressive companies in their respective fields, but also Finovate alums.

If you are the global accounting and consulting group KPMG, then the answer is "more than half."

Of the 50 companies recognized by KPMG in its 2014 review of top fintech innovators, 27 have demoed their technologies at Finovate conferences. And of that 27, 13 have won Best of Show at least once.

50Fintechreport.jpg
The inaugural "50 Best Fintech Innovators" report is a joint venture between AWI Ventures KPMG Australia and the Financial Services Council (FSC). 

The companies chosen were selected based on four factors: total capital raised, rate of capital raising, degree of sub-industry disruption, and "degree of product, service, customer experience and business model innovation." 

In an introduction to the report, AWI Limited CEO Ben Heap explained why fundraising played such a prominent part of the selection process:

"These assessment criteria reflect the fact that venture capital invested is a relevant measure of innovation which in turn fuels enduring competitive advantage," Heap wrote. 

"Venture capitalists seek this enduring competitive advantage over and above everything else."

Here's a breakdown of Finovate alums in the list, in order of appearance, along with links to their most recent demo video. Boldface indicates Best of Show winner.

"Ones to Watch" 
See the full list of companies here.

Alumni News-- December 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCompass Plus TranzAxis now supports Futurex hardware security modules.
  • Coinbase introduces USD Wallets, enabling users to store U.S. dollar balances.
  • TradeKing unveils new features for its new LIVE platform.
  • Forbes column on disruption in traditional money exchange features Azimo, TransferWise, and CurrencyFair.
  • CrowdFlower announces support for eight new languages and enhanced support for another four.
  • CEO and co-founder of Trustev Pat Phelan wins MSL Cork Business Person of the Year award.
  • Linqto, Crowd Curity, Xignite, and CUneXus win Future of Money & Technology Summit Startup Showcase.
  • TickSmith adds Amazon Web Services version of its financial big data platforms.
  • The New Daily features SocietyOne as a premium P2P lending option.
  • The Chicago Tribune considers Lending Club's impending IPO.
  • Google Cloud Platform now PCI compliant, enabling developers to hold, process, and exchange credit card information.
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.
TransferwiseNewLogo.jpg

A few weeks ago we reported how international money transfer innovator, TransferWise was taking to the streets of London on the eve of Halloween to protest hidden fees in the money transfer industry.

Today, we're back to report that the fight is still on.

On Thursday, TransferWise launched the next stage in its offensive to bring greater transparency to bank and brokerage fees. The company hosted an event at Westminster, unveiled an online petition calling for the end of hidden fees, and earned a statement of support from Chi Onwurah MP, Shadow Cabinet Minister for Digital Government:

"After the Libor and forex scandals, public confidence in foreign exchange transactions is at an all time low. So I welcome TransferWise's campaign for greater transparency. I want UK holiday makers to get the best deal possible - and know what they are being charged."

TransferWise_homepage2.jpg
TransferWise issued a three-point manifesto calling on banks and brokers to:
    • Provide a clear breakdown of the costs associated with every transaction
    • Publish the difference between the exchange rate offered by the provider and the true, mid-market rate
    • Put an end to the use of misleading terms such as "free" and "0% commission" where hidden charges are applied.
Co-Founder of TransferWise Taavet Hinrikus said, "In fact, hidden fees are so pervasive in the industry, we sometimes struggle to convince potential customers that 'free' or '0% commission' services aren't free at all."

"Our polling shows that 58% of Brits would consider shopping around for their financial services if they could compare prices more easily," he added.

Based in London and founded in 2010, TransferWise was last on the Finovate stage for the London conference in 2013. See a video of the company's demonstration from FinovateEurope here.

Alumni News-- November 20, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgPrivatbank customers can now use MoneyGram to send and receive funds courtesy of new partnership.
  • Financial Times Technology section looks at UK fintech startups TransferWise and Azimo.
  • CurrencyTransfer recognized by Secret Tel Aviv as Olim Business of the Week.
  • USA Today column on millennials and saving featured Tom White, CEO of iQuantifi.
  • TransferWise helps lead fight for foreign exchange fee transparency.
  • iBillionaire's Index has increased 16.5% since launching in November of last year
  • Swipely now managing $4+ billion in annual sales, doubles sales under management in 6 months,  and provides businesses with insights on 20+ million customers.
  • Numerous Finovate and FinDEVr alums make AWI's list of top 50 fintech innovators.
  • Advanced Merchant Payments brings in $5 Million in First Funding Round.
  • Kony helps Farmatodo increase customer loyalty and deliver new services via mobile apps.
  • Coinbase teams with Rewardspay to create workaround to make purchases on Facebook and iTunes with Bitcoin.
  • TSYS offers merchants and partners an omni payments solution with more ways to accept payments.
  • $493 million in P2P loans originated on Prosper in Q3 2014.
  • Credit Sesame wins 2014 U.S. Mobile and App Design Awards in Financial and Information Tools category.
  • BancVue wins four MarCom Gold awards.
  • Kensho launches strategic partnership with NBCUniversal.
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.

Alumni News-- November 17, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBoku announces a pair of C-level appointments: Ingo Lippert as CBO, Christian Hinrichs as CFO.
  • Zopa partners with AltFi Data; plans to open loan book to the public in Q1 in 2015.
  • The Sunday Times profiles TransferWise founders Kristo Kaarmann and Taavet Hinrikus.
  • Bolstr surpasses $200,000 in 2014 investor payouts
  • Expensify featured in Slate. Check out the video.
  • Billhighway's 523% Four-Year Growth earns it the #193 Spot on the Deloitte Technology Fast 500 List.
  • ChicagoInno features Arroweye Solutions and Rippleshot for their listings on the FinTech Forward Rankings.
  • Check out Finovate Debuts: Minetta Brook's Knewsapp.
  • MetaIntelli and Arxan Technologies partner to help developers mitigate mobile security and privacy risks.
  • Venmo gets Touch ID security, tagging, and direct linking to bank accounts.
  • MyBankTracker examines how 1U is using Hoyos' facial recognition security technology.
  • InComm launches New eCommerce Site for B2B Bulk Gift Cards.
  • Bluefin joins the New York Bankers Association.
  • Google Compute Engine now features intelligent horizontal Autoscaling.
  • Wharton Fintech blog features Knox Payments.
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.
TransferwiseNewLogo

With a giant, inflatable tombstone inscribed "RIP Hidden Fees" looming overhead, international money transfer startup, TransferWise used a horde of Halloween ghouls and more than a little theatre, to put traditional banks on notice when it comes to hidden charges.

Led by a hearse, the parade of costumed TransferWisers and its customers marched through the City of London to the Silicon Roundabout tech cluster. The crowd of goblins and ghosts numbered more than one hundred and claimed to be "lay(ing) misleading price claims" to rest.

TransferWiseRIPHiddenFees
See for yourself. Below is actual footage of the fee-eating zombies making their way down Old Street Roundabout on Thursday (All Hallow's Eve Eve?).


TransferWise is one of fintech's more creative marketers. The company announced a major redesign last month, and accompanied it with a fun, cheeky TV advertisement that similarly heralded the beginning of the end of bank fees.

TransferWise has been recognized as an innovator in the money transfer space by a variety observers, earning a spot in CNBC's Disruptor 50 list earlier this year. The company has attracted the interest of the investment community in 2014, as well, announcing an investment of $25 million and the support of investor, Sir Richard Branson.

TransferWise demoed its technology at FinovateEurope 2013 in London. See a video of the company's presentation.



And because nothing beats a doubleheader, here's a little more movie fun, this time from the clever folks at Moven. Have a great weekend!



Alumni News-- October 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFeedzai and Encap Security team up to combine behavioral profiling with device credentialing to build better security for banks and merchants.
  • CB Insights lists Nutmeg, TransferWise, The Currency Cloud, and Azimo among the 10 top fintech startups from the UK.
  • The Guardian Money section looks at peer-to-peer lender including Zopa.
  • TWiST (This Week in Startups) interviews FutureAdvisor Co-Founder and CEO Bo Lu.
  • Prosper reaches $2 billion, reaching the second billion dollars in just 6 months.
  • Payment processing solutions provider, Bill2Pay, partners with PayNearMe to digitize cash collections.
  • The Australian Business Review features Matt Symons, SocietyOne co-founder.
  • EVO* Snap launches mPOS Solution Supporting Apple Pay and EMV Globally.
  • MedicalMine and Bluefin Partner for Integrated Patient Payments.
  • Check out our feature on Xignite: Inspiring the Future of Finance with Easy and Speedy APIs
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.

Alumni News-- October 24, 2014

  • Smarty Pig featured in Washington Post column on ways to save on holiday gift shopping.
  • Wealth Management.com talks with Motif Investing CEO Hardeep Walia on tech trends in the financial services industry.
  • TransferWise and CurrencyFair are highlighted in Forbes review of ways to save on foreign currency exchange.
  • Bob's Guide profiles cloud-based market data provider, Xignite.
  • Technology Tools for Today interviews Tom Nally, president of TD Ameritrade Institutional.
  • Pymnts interviews EVO Snap* CEO Peter Osberg about Apple Pay.
  • Fitsmallbusiness.com highlights OnDeck, PayPal, & other Finovate alums as small business lending innovators.
  • D3 Banking brings in $7 million, with $3 million more on the way.
  • ABA Banking Journal looks at Karrot, the automated online lending service demoed by Kabbage last month at FinovateFall 2014.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

TransferWiseNewLogo2014

When we last looked at international money transfer innovator, TransferWise, the company was on the receiving end of a major investment from the likes of Sir Richard Branson, and Peter Thiel's Valar Ventures.

Today we are happy to see some of that capital put to work.

TransferWise has announced a major redesign, including a new national television ad. Taavet Hinrikus, co-founder of TransferWise, noted that part of the challenge for startups like his are a "handful of major players" who dominate retail banking in the U.K. 

TransferWiseHomepage
This forces companies like TransferWise to come up with new, innovative ways to attract customers from the brand names they've grown up with.

TransferWise_iPhone6
To this end, TransferWise's makeover comes in three parts: web, design, and mobile. The website has been streamlined to speed customer onboarding and make the interface more intuitive. And a new logo has been designed to help distinguish the company's brand from traditional money transfer organizations like banks and brokers.

But the most exciting part of the redesign are the changes on the mobile side. TransferWise is now optimized for iOS8 for iPhone 6, iPhone 6+, and the iPad. This includes what the company calls "deep integration" with the iPhone contact book.

"We believe that just being a little better isn't enough," added Hinrikus. "So we strive to offer something that's ten times easier, faster, and better than the banks to make mainstream consumers of alternative finance providers like us."

This leads us to what might be the most talked about aspect of TransferWise's redesign: the company's cheeky new TV spot. TransferWise's first national television ad humorously features a "Wolf of Wall Street" like banker walking through his offices and lightheartedly lamenting the rise of TransferWise. 

TransferWise_VideoShot
TransferWise was founded in March 2010 and is headquartered in London. The company demoed its technology at FinovateEurope 2013. See a video of their demo here.

Alumni News-- September 3, 2014

  • Finovate-F-Logo.jpgCortera announces Caine & Weiner as the Latest Open Receivables' Partner to Join Network.
  • Personal Capital launches Private Client Service. Come see Personal Capital's presentation at FinDEVr in San Francisco Sept 30 and Oct 1.
  • Blackhawk Network announces integration with Google Wallet.
  • Nutmeg, TransferWise featured in Growth Business' look at the top 10 technology venture capital investments of Q2.
  • ValidSoft wins 4th European Privacy Seal award for its Zero Latency Correlation process.
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.

Alumni News-- August 8, 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.jpgTransferWise earns a spot on Wired UK's list of the "100 hottest start-ups" in Europe for 2014.
  • TMC Net takes a look at CU of America's deployment of mobile banking solutions from Malauzai Software. See Malauzai at FinovateFall 2014 in New York.
  • First Access Funding Corporation to deploy loan origination system (LOS) from defi SOLUTIONS.
  • MasterCard Indonesia launches e-commerce initiative.
  • Intuit acquires PaySuite, bringing cloud-based payroll services to Quickbooks.
  • American Banker: Authentify introduces extension of xFA called Smart Choice to determine authentication mechanisms the user's device has access to.
  • Cachet Financial Solutions and Contact Solutions bring Mobile Customer Care to Prepaid Clients.
  • CNBC looks at how LearnVest, Tuition.io, and ReadyForZero are making student loan payback easier.
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 FinovateFundingIMG.jpg

In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it's clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln's $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I'm talking about you, Holvi, RevolutionCredit, and Tuition.io), we're confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.

How does this compare with the less recent past? Very well, indeed. 

In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 

Total raised for Q2 2014 = $594 million

April -- $217 million raised by 11 companies
May --  $226 million raised by 11 companies
June -- $151 million raised by six companies

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@Finovate.com or Julie@Finovate.com

Alumni News-- June 23, 2014

  • CEOs and founders from eToro, BehavioSec, TransferWise, The Currency Cloud, and Nutmeg earn spots on FN's 40 fintech leaders list.
  • Bill Harris, Personal Capital CEO, featured on CNBC to Personal Capital and how it differs from robo-advisors.
  • Investment News looks at the humans behind FutureAdvisor's robo-advisors.
  • Betterment adds municipal bonds asset class to make client's non-IRA portfolios more efficient.
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.

Alumni News-- June 18, 2014

  • Finovate-F-Logo.jpgThreatMetrix integrates with Ping Identity's PingFederate ID bridge to provide contextual employee authentication.
  • Kony brings in $50 Million in Financing Led by SoftBank Capital.
  • Eight Finovate alums earn spots on CNBC's Disruptor 50 list: Motif Investing, TransferWise, Personal Capital, Wealthfront, Lending Club, Coinbase, Bill.com, and Betterment.
  • Umpqua Bank announces plans to transition to a scalable core solution from FIS.
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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Hats off to eight Finovate alumni for winning spots on CNBC's Disruptor 50.

2014 marks the second year of CNBC's Disruptor 50 list. The selection credits companies for being "forward-thinking" and working to discover untapped markets en route to becoming "billion-dollar businesses." Read more about CNBC's selection methodology here.

CNBC's David Spiegel wrote: 
"All of these companies entered traditional sectors and turned them upside down ... It's the power of a company to displace the established incumbents in its own industry, prompting a ripple effect throughout its economic ecosystem."

See CNBCs inaugural Disruptor 50 here. The 2013 list included alums boku, CircleUp, Lending Club, and Wealthfront.
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Many fintech startups have an impressive array of informed investors backing them up. But not every fintech startup can cite the support of a knight.

Along with Peter Thiel's Valar Ventures, Index Ventures, and addition investors, Sir Richard Branson has thrown his financial support behind TransferWise, the P2P money transfer specialist. Branson's investment, along with that of his fellow investors, means that TransferWise now sits with $33 million in total funding.

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Branson said in a statement, "Financial services such as foreign exchange have been ripe for disruption for decades, and it's great to see TransferWise bring transparency to the market."

According to reporting in TechCrunch, TransferWise plans to put the capital to use adding talent and intensifying marketing efforts. Said TransferWise CEO Taavet Hinrikus, "We're going to use this money to lead the charge against hidden bank fees and expose the problem to a wider audience."

The company has backed up this talk with a tough (Hinrikus calls it "cheeky") ad campaign that directly takes on the idea of bad bank behavior when it comes to hidden charges and fees. The ad has been somewhat controversial in the U.K., to say the very least.

TransferWise was recently in the news announcing that it had surpassed £1 billion in cumulative total volume of cash transferred across the border since May 2013. The company provides P2P money transfer services in more than 175 countries. TransferWise's reliance on P2P technology is one of the company's biggest edges on its competition, helping lower costs and provide money transfers to consumers that are less expensive than similar services offered by banks.

Founded in March 2010, TransferWise was most recently on the Finovate stage as part of our conference in London in 2013. See a demo of the company's technology at work here.

Alumni News-- June 10, 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 Alums LendingRobot and Wallaby Among 2014 Innotribe New York Winners.
  • TransferWise Announces $25 Million Investment; Support from Sir Richard Branson.
  • Top Image Systems and Cintas Document Management form technology partnership to provide advanced BPO solutions.
  • PayPal President David Marcus leaves for Facebook job.
  • Arxan Technologies will now be sold by IBM as part of its portfolio of security products.
  • Insuritas signs Florida-based Tyndall FCU ($1.1 billion in assets) to provide insurance options to its almost 100,000 members.
  • P2Binvestor reaches $2 million in deals over the past 2 months after providing funding to Colorado-based beverage company.
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-- June 2, 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.jpgTop Image Systems partners with K2 to blend capture and mobile imaging technology with BPM.
  • On Deck reports $3.4 billion, $22K job impact on economy courtesy of its small business lending platform.
  • Eurasian Bank to deploy mobile banking technology developed by Monitise Create.
  • MasterCard launches MasterPass in Singapore.
  • Forbes features Xero, looks at why it will keep growing.
  • Finextra considers how The FCA plans to foster UK fintech innovation companies like Monitise, TransferWise, and Nutmeg
  • Apple opens TouchID to third parties, shows TouchID login example using Mint app in iOS 8 demo.

  • Dashlane reaches two million users milestone.

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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In the eleven months since May 2013, TransferWise has seen its cumulative total volume of cash transferred cross-border climb from just over £100 million to £1 billion.

Based in London, TransferWise provides peer-to-peer money transfer services in more than 175 different currencies. The platform works by connecting people looking to transfer money from Country A to Country B, with people looking to make the exact opposite transfer.

TransferWise has raised more than $7 million since its founding in 2010. The lion's share of the capital has come from a Series A round almost a year ago led by PayPal co-founder Peter Thiel's Valar Ventures.

Said TransferWise co-founder Taavet Hinrikus of the newly-reached milestone: "it shows how much people need modern financial services - something where it is modern, fast and cheap."

Speaking of modern, fast and cheap, TransferWise is also announcing the launch of its Android app. Said Hinrikus, "there is much more that money on mobile should mean to people and ways they can be in control."

The latest news from TransferWise shows how the currency transfer business has heated up. Companies like CurrencyFair and Azimo, both Finovate alums also, have announced reaching significant milestones or raising significant VC capital in recent weeks, as well. And now, even more attention is being paid to companies like these as potential partnership with Facebook, should the social networking innovator act on rumors that it is getting into the money transfer game.

TransferWise demoed its technology as part of the FinovateEurope show in 2013. See the company in action here.
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Who knew? More than half of the world's top 10 most innovative companies in finance are Finovate alums.

Don't just take our word for it. Fast Company published its roster of innovation in the financial space as part of their quest to find those companies that are "creating radical new approaches to move cash from one place to another." 

And among such widely-known and talked-about entities as Square and Bitcoin, we find more than a handful of innovators who have used the Finovate stage to help show their technology to the world.

Take a look at the companies below, accompanied by Fast Company's take on just what makes each innovator truly unique.

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Fast Company: "For connecting banks and other clients to frazzled end users when problems arise."



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Fast Company: "For daring to take on the fee-laden credit card establishment."


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Fast Company: "For slashing pesky foreign-exchange costs by creating a transparent peer-to-peer network."



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Fast Company: "For establishing a single login for web users and taking a giant leap toward eradicating the scourge of the Internet: passwords."


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Fast Company: "For luring international customers with a mobile-payment network that lets them purchase with a simple click."





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#10 eToro
Fast Company: "For creating a social network that lets traders emulate those with skin in the game."

Finovate Alumni News-- April 15, 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.jpgTransferWise announces more than $1 billion in P2P transfers.
  • Insuritas picked by Nutmeg State Federal Credit Union to open and manage its turnkey insurance agency. See Insuritas demo at FinovateSpring in San Jose.
  • Streetwise reports: HelloWallet Signs Another Big Deal with Aon Hewitt.
  • CardFlight wins Electronic Transactions Association's 2014 Technology Innovation Award.
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 24, 2014

  • TransferWise recognized as "boldest small company" in winning FT's Boldest in Business award for 2014.
  • BBVA follows Simple acquisition with launch of new digital banking unit.
  • Currency Transfer featured in Wired UK as Startup of the Week.
  • BillGuard invites beta testers to try its new Android app.
  • Mail Tribune highlights the importance of Credit Karma and Credit Sesame.
  • Ping Identity purchases Accells Technologies to make mobile devices into a tool for logging you in to all of your cloud-based services in one shot.
  • BellaDati launches the next level of visual data discovery with new release.
  • Matt Turck examines opportunities for Kensho and Quantopian in a Bloomberg-dominated world.
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-- February 24, 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.jpgNICE Systems named to Fast Company's 50 most innovative companies list.
  • American Banker takes a look at BBVA's acquisition of Simple.
  • MasterCard brings in-app payments to MasterPass; acquires m-wallet startup, C-Sam.
  • CNBC Finance hosts Kasasa CEO Gabe Krajicek to discuss the drive to local banks and credit unions.
  • Arxan Technologies partners with IBM to protect mobile apps against attacks.
  • HelloWallet launches Insights app to help HelloWallet users better understand their financial habits.
  • InterAksyon features TransferWise in column about transferring money overseas.
  • Realty Mogul's real estate portfolio surpasses $85 million mark.
  • ExactCPA Tax Solutions introduces its app of the week: Kashoo Accounting.
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.jpgNous makes it to the finals of UK's Million Pound Startup competition. Check them out at FinovateEurope in London.
  • Luminous partners with Jack Henry & Associates. Come see them both at FinovateEurope next week.
  • Pindrop Security achieves record growth in 2013 fueled by rising phone-based fraud.
  • Sun Hearlad features Finovera as a new site to help manage personal finances.
  • In yet another partnership, Refundo partners with Stripe to process payments for tax preparers.
  • CNB Texas launches responsive design website from Banno for greater cross-sell potential.
  • Top-Five U.S. Bank makes million dollar investment in software licenses for Kofax's Mobile Capture. Come see Kofax's live demo at FinovateEurope.
  • VentureBeat lists TransferWise among London's hottest startups.
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.jpgArxan appoints Patrick Kehoe as Chief Marketing Officer.
  • GRANCO Federal Credit Union to offer Geezeo powered PFM.
  • Mitek's Mobile Photo Payments now offered by a large, unnamed cable, telecomm and media companies.
  • Lodo Software changes its name to D3 Technology.
  • miiCard adds former SWIFT CEO Lázaro Campos, previous VP of SecureWorks Richard Lewis, and prior Clydesdale executive Kenny White to its Board of Directors.
  • Zopa secures £15 million from London-based Arrowgrass Capital Partners.
  • Crowdfund Insider looks at SeedInvest and its comment letters to the SEC on crowdfunding and the JOBS Act.
  • LendUp launches educational video series to help combat identity theft.
  • Flint Mobile announces start of partner program for ISOs, MSPs, and ISVs.
  • Financial Times column on online banking and the cloud features Fidor Bank.
  • Your Story features TransferWise and its co-founder Taavet Hinrikus.
  • InComm and H&R Block enable consumers to reload their H&R Block Emerald Card at more than 60k Vanilla Reload locations in the U.S.
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 FinTech 50 awards highlight 50 European-based companies to watch over the coming year. The companies are selected by a panel of 15 fintech professionals. This year, 19 of the selected companies are Finovate alums.

Here are the Finovate alums selected, listed in alphabetical order:


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AcceptEmail, for its electronic billing and payment system that allows customers to make payments straight from their email.

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BehavioSec, for its technology that uses behavioral biometrics to verify users, creating a secure environment without extra friction.

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Credit Agricole Apps, for its online app store where financial apps are co-created between clients and developers.

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eToro, for its social trading and investment network


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ETRONIKA, for its full suite of ebanking channels and BANKTRON management platform.

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Fidor Bank, for its innovative online banking community.

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Five Degrees, for its integrated banking platform that extends from back-end systems to client-facing technology.

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FreeAgent, for its SMB-focused online accounting system.

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Help my Cash, for its recommendation engine that informs consumers of their options when choosing and negotiating financial services.

Holvi, for its smart checking account for group activities.

Ixaris, for its innovative global applications based on open-loop prepaid card schemes.
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Klarna, for its e-commerce payment solutions.

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mBank, for its Bank 3.0 approach to online and mobile banking.

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Meniga, for its white-labeled PFM and next-generation online banking solutions.

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Nutmeg, for its online savings and investing service that helps users manage their money.

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The Currency Cloud, for its Cross Border Payments as a Service product that optimizes exchange rates and payment networks for both parties in a currency exchange.

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TransferWise, for its platform that allows expats, foreign exchange students and businesses to move money globally.

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Wonga, for its service that provides small, short term cash advances to UK consumers online.

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Zopa, for its P2P money lending service that allows borrowers and lenders to deal with each other directly.


Finovate Alumni News-- January 21, 2014

  • Thumbnail image for Finovate-F-Logo.jpgFenergo taps Stan De Schepper for SVP, Americas.
  • National Bank of Andrews, AimBank to adopt Temenos T24 core processing platform. See Tememos at FinovateEurope in London.
  • Business Review Europe takes a look at Azimo's expansion into Austria.
  • GMC Software Technology recognized as industry leader in latest Forrester Research Wave report.
  • Technics and Time feature PayPal and TransferWise in list of ways to pay without your wallet.
  • Swipely unveils its "Winter '14" release to extend its service to help restaurant and hospitality customers make smarter decisions.
  • SafetyPay signs agreement with Brazilian firm Privalia.
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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