Year: 2011

Billeo Launches ShopSmart To Bring Consumers Relevant Discounts

By Julie Muhn (@julieschicktanz) Posted on
Categories: Billeo

Thumbnail image for BilleoLogo29.9.11.jpgBilleo, the registration and checkout assistant with 1.5 million users, launched a new app earlier today. This free app, called ShopSmart, brings consumers relevant discounts from over 1500 merchants and instantly alerts users of deals available from their loyalty or rewards programs. 

For financial institutions:

Thumbnail image for ShopSmartIMG.jpg
“The app gives Billeo’s network of financial institution and program provider partners the ability reach, engage and incentivize iPad users during the holiday shopping season.”

In addition to alerting users of their rewards, it also serves as a platform to help them organize their daily deals and share them on Facebook.

To learn more about Billeo, watch its FinovateSpring 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– November 9, 2011

By Julie Muhn (@julieschicktanz) Posted on
Categories: Billeo, Dwolla, eWise, Expensify, GoalMine, Intuit, Lendio, MiiCard, PayPal, Simple, Xero, Zecco

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

  • Read Write Web argues the mobile payments capital of the US is Des Moines, IA thanks to Dwolla.
  • Fox Business News reports GoalMine seeks to level the investing field.
  • PayPal updates its Android app with support for NFC payments.
  • eWise hires Alexandre Gonthier, former Boku CTO, as new CEO.
  • Lendio makes its business loan matching service free.
  • Finextra reports Intuit partners with AT&T to take on Square in the emerging mobile card processing market.
  • Xero updates its app: increases speed and improves UI.
  • Business Insider lists Dwolla and Simple as 2 of 20 most innovative startups in tech.
  • Billeo launches ShopSmart to bring consumers relevant discounts.
  • Zecco hosts $500 sweepstakes.
  • miiCard gives first 10,000 users free accounts for life.
  • Netbanker: Top 10 Reasons Why BankSimple Dropped the Bank.
  • Expensify creates four pricing plans.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Top 10 Reasons Why BankSimple Dropped the Bank

By Jim Bruene Posted on
Categories: Simple

Simple login area

When I started my company in 1994, I was told by the state that I couldn’t have “bank” in the name unless I was one. So one of the first questions I asked BankSimple founder Josh Reich early last year was how they were getting past that issue. He said it was not a problem since BankSimple was just a brand name. The company name was, and still is, Simple Finance Technology Corp.

So evidently, the startup wasn’t forced to change. That got me to thinking about why they moved away from BankSimple, which is a great description of their initial product set. Here is what I came up with.

_____________________________________________________________________________

Top 10 Reason for Changing the Name from BankSimple to Simple
______________________________________________________________________________

10. While it may be OK in the United States for a non-bank to use “bank” in a brand name, that may not be the case in other markets the startup hopes to eventually conquer

9. There’s been lots of bank bashing the last few years; so it avoids negative connotations

8. One word names are cooler than two-word mashups

7. It allows them to move into other less “bankish” areas such as payments and offers

6. It allows them to partner with credit unions, card companies, and other non-bank financial companies

5. Can add any other word to “simple” to create great product names, e.g., “Simple Billpay”

4. The generic word, beginning with S, is being used by the highest-valued fintech startup in the world, Square

3. Much easier to riff off of “simple” for killer taglines (see login screen above)

2. They don’t have to worry about anyone saying “occupy simple”

And the most important reason (drum roll):

1. Tweets can have 4 more characters (ba dump bump)

Yes, BankSimple made a good strategic move, though I’ll miss the old name, which had a nice oxymoron-ish quality to it.

Share this:

Send Post Twitter LinkedIn Facebook

eToro Launches iOS Mobile App for On-The-Go Trading

By Julie Muhn (@julieschicktanz) Posted on
Categories: eToro

Thumbnail image for eToroLogo.jpg

eToro announced a non-native mobile app to trade currencies, commodities, and indices on their mobile devices: 

“The Mobile Trading application is based on HTML5 that runs the eToro OpenBook™ social trading platform and its award winning CopyTrader™ functionality and supports IOS (iPhone, iPad, iPod) and all Android mobile devices including tablets. eToro also provides a native Mobile Trader application for Android™ which was launched September of last year.”

Javier Paz, Senior Analyst at the Aite Group notes that the new app makes it easier for users to check their account performance, search for people to follow, and find a user to copy.

To learn more about eToro’s trading platform, watch its FinovateFall 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

BankSimple Launches to the Public, Changes its Name to Simple

By Julie Muhn (@julieschicktanz) Posted on
Categories: Simple

SimpleLogo.jpgThis morning, BankSimple made two big announcements.

1) It opened its service to a select group of non-employee customers for the first time:

Thumbnail image for SimpleCardIMG.jpg

“We want to understand what works for them and what can be improved. We also want to learn how our customers prefer to reach us so that we can intelligently grow our customer relations team. Using this feedback, we’ll rework and revise; the experience we’re launching today will continuously evolve.”
2) It changed its name to Simple
(Simple.com). This is a logical move because the word “bank” was a misnomer. In fact, Simple is not a bank, but a consumer-facing product that partners with chartered banks that hold your money in FDIC-insured products:
“Simple is a better representation of what we aspire to. It releases us from the constraints of an industry in desperate need of innovation.”

SimpleNewScreenshot.jpg

To learn more about Simple, watch its FinovateFall 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– November 8, 2011

By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, BillGuard, Budgettracker, Credit Karma, eToro, Geezeo, Ixaris, Kony Solutions, SecureKey, Wesabe
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker: Credit Karma Launches “Hands Free” Account Aggregation.
  • Kony and CIBC deliver new mobile brokerage application.
  • Ixaris to introduce the Opn Payment Partner.
  • Backbase & Forrester Research to host free webinar Nov 9: ‘Banks Need to Become SUPER.’
  • Everything PR lists BillGuard in the Money category of 2011′s Top 100 Best Startups for PRs.
  • eToro launches mobile HTML 5 App for social trading on the go.
  • SecureKey Technologies Inc. to power the Government of Canada’s new online authentication service.
  • Malta Independent Online looks at Wesabe, Geezeo, and Budgettracker as key online money management tools.
  • BankSimple launches to the public, changes its name to Simple.
  • eToro launches iOS mobile app for on-the-go trading.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Credit Karma Launches "Hands Free" Account Aggregation

By Jim Bruene Posted on
Categories: Credit Karma, Credit Reports & ID Theft Protection, Credit/Debit Cards

Everyone likes the idea of an online PFM, but relatively few will take the time to enter the necessary account numbers and passwords. Fewer still will keep it running smoothly by coming back periodically to update passwords, provide security question responses, and so on. That friction means it’s not benefiting as many people as it could. 

But Credit Karma removes the friction, at least on the credit side, with its latest feature, My Accounts (see first screenshot below; see fourth screenshot for today’s email announcement). The startup parses credit bureau data to automatically present each user with an aggregated look at their debt over time. The service requires ZERO account info from the user, they simply sign up with Credit Karma to get free credit report info.

Historical data is captured each time the user updates their credit info at Credit Karma. Since it’s new, there’s just a single data point on my account (see second screenshot).

To earn advertising and referral income, Credit Karma integrates card offers into My Accounts with a Recommended Cards tab in the tertiary navigation (third screenshot). Cross selling is also woven into other areas as well (first screenshot). Credit Karma also covers home loans, auto loans, and personal loans. Each has their own tab in the secondary navigation.

The company has 3.5 million registered users and is adding 500,000 every quarter.

Bottom line: Keeping closer tabs on debt has huge benefits for many households. Credit Karma’s "no data input" method makes it easier. The last remaining hurdle is integrating the data into online banking so it’s not forgotten (see UW Credit Union post).  

—————————————

Credit Karma "My Accounts" (7 Nov 2011)

Credit Karma "My Accounts"

Balance history is tracked for each card
Note: Only one data point, since this was my first time using the new feature

Balance history is tracked for each card

Integrated offers drive revenue

image

Email announcement of new feature

Credit Karma's email announcement of My Accounts

—————————–

Note: We’ve have written a number of reports on PFM and related issues in our subscription service, Online Banking Report.

Share this:

Send Post Twitter LinkedIn Facebook

Balance Financial Launches Professional Platform

By Julie Muhn (@julieschicktanz) Posted on
Categories: Balance

Thumbnail image for BalanceFinancial.pngBalance Financial announced today that its Balance Professional platform has launched out of beta and is now available to any financial, accounting or tax advisor. 

“Balance Professional gives financial professionals a free client portal to start that allows them to collaborate with their clients over shared files and documents as well as a client’s financial accounts. The Balance platform allows clients to connect their financial accounts and use the integrated budgeting, expense tracking and reporting tools.”

The screenshot below shows the PFM platform for advisor clients.

BFinProfIMG.jpg
To learn more about Balance Profesional, watch the demo from FinovateFall 2011.

Share this:

Send Post Twitter LinkedIn Facebook

peerTransfer Partners With 30 New Universities

By Julie Muhn (@julieschicktanz) Posted on
Categories: peerTransfer

Peertransferlogo.jpgLast week, peerTransfer announced that during the third quarter of 2011 it signed up more than 30 new universities:

“Schools such as Oberlin College, Georgia State University, Western Kentucky University, Mount Holyoke College, University of San Diego and Stevens Institute of Technology join peerTransfer’s now 50 plus partner schools.”

The startup allows international students to finance tuition in their own currency helping them save on currency exchange fees.

To learn more about peerTransfer, watch its demo from FinovateSpring 2011.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– November 7, 2011

By Julie Muhn (@julieschicktanz) Posted on
Categories: Balance, Betterment, Bill.com, BillGuard, Dwolla, Expensify, FTRANS, peerTransfer, Prosper, Wikinvest, Yodlee

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

  • BillGuard CEO, Yaron Samid, shares lessons learned as a startup entrepreneur.
  • Expensify listed as 1 of 7 software makers to bring integrated, cheaper add-ons to Google Apps.
  • The Globe and Mail lists Wikinvest as a tool to help ordinary investors dig through the data.
  • Investors.com explains the benefits of using Yodlee to track your finances.
  • Fast Company examines Betterment and BillGuard’s  #occupywallstreet event.
  • Dwolla alters its registration process into a more pleasant experience.
  • VentureBeat explains how Prosper is helping to support the #occupywallstreet protesters.
  • peerTransfer partners with 30 new universities.
  • Bill.com receives “Awesome Add-On” award.
  • Social Lending Network provides details on Prosper’s recent round of funding.
  • Balance Financial launches professional platform.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Lending Club Reaches $400 Million in Loan Originations

By Julie Muhn (@julieschicktanz) Posted on
Categories: Lending Club

Lending ClubLogo11.4.11.jpg

Yesterday morning, Lending Club announced its achievement of reaching the $400 million mark in loan originations:

“The milestone comes less than four months after Lending Club reached $300 million in total loan originations in July. A record $27.5 million in personal loan originations in October contributed to the milestone. Lending Club loan originations are growing by more than 150 percent year-over-year, and the platform has now paid investors more than $33 million in interest.”

To learn more about Lending Club, watch its demo from FinovateStartup 2009.

Share this:

Send Post Twitter LinkedIn Facebook