Month: February 2012

Service2Media Enables Secure Mobile Payments

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2012, Service2Media

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Today, Service2Media showed how the payment method iDEAL supports mobile payments:

“Service2Media and Rabobank introduce mobile payments via banking app for all webshops, starting with bol.com. Customers of Rabobank that installed the Rabobank Mobile Banking app can now pay their mobile purchases as easily as their online purchases, using a mobile version of internet payment method iDEAL. The new mobile payment is facilitated by starting the Rabobank Banking app on an iPhone once a payment request is issued on the merchant mobile site. The transaction is then authorized by the user in the app with his account number and access code before being redirected to the merchant’s mobile site. Mobile banking is now possible without an e-reader (up to €1000).”

Product Launched: 2010

HQ Location: Enschede, Netherlands
Company Founded: 2005
Metrics: 140 employees, offices in Netherlands, UK, Spain, UAE and USA, $10 million (US) investment from Prime Ventures
Website: service2media.com

Presenting Peter Broekroelofs (CTO)
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Fenergo’s Deal Manager Helps with Client On-Boarding and Account Opening

By Julie Muhn (@julieschicktanz) Posted on
Categories: Fenergo, FinovateEurope 2012

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Then, Fenergo shared how its Deal Manager can assist with the client on-boarding process:

“Deal Manager (DM) offers financial institutions a unique and full-featured application for client on-boarding and account opening. By systemizing highly complex KYC, Client Due Diligence and credit processes, Deal Manager delivers efficiency, transparency and control across new business processing, and ensures ongoing requirements are managed. 

It ticks the box for compliance with flexible on-boarding and account opening models that integrate policy, document and regulatory requirements for all major markets. With Deal Manager, institutions can manage all KYC and on-boarding requirements for individual and institutional clients, as well as credit, legal documentation processes for new products and services.”

Product Launched: April 2010

HQ Location: Dublin, Ireland

Company Founded: 2009
Metrics: 50 employees, 4.1 million in 2011 revenues

Website: fenergo.com
Presenting Marc Murphy (CEO) & Niall Twomey (Head of Engineering)
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Backbase Improves Bank 2.0 Portal Manager

By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, FinovateEurope 2012

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Next, Backbase showed off its newly improved Bank 2.0 Portal Manager:

“Backbase is presenting major new features in its Bank 2.0 Portal Manager at FinovateEurope 2012, focusing on the following key points:

  • Improved editor for page composition on regular browsers and mobile devices
  • Advanced segmentation and targeting for different customer groups
  • Fully integrated forms editor for enrollment and BPM
  • Advanced analytical and performance tools
Backbase’s Portal Manager is an easy to use, graphical interface for the e-business and marketing teams at banks to manage online and mobile customer interactions and to bring power to the business by giving them complete control of the online customer journey.”

Product Launched: February 2010

HQ Location: Amsterdam, Netherlands & New York, NY
Company Founded: April 2003
Metrics: 150 employees
Website: backbase.com

Presenting Jouk Pleiter (CEO & Co-Founder) & Jelmer de Jong (Head of Marketing)
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Business Centric Services Group Launches CreditHQ

By Julie Muhn (@julieschicktanz) Posted on
Categories: Business Centric Services Groups, FinovateEurope 2012

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Afterward, Business Centric Services Group launched a one-stop shop for small businesses to access customer risk data:

“CreditHQ provides small businesses with unlimited access to a database of customers, outlining their risk profile and payment performance in a simple and easy-to-use format. The platform allows small businesses to develop monitoring plans for each customer/supplier, which sends e-mail alerts directly to the business owner when there is a material change in the credit/risk profile. The platform also allows businesses to create best practice credit terms letters to issue to customers to ensure all parties understand their relationship at the outset of any relationship. 

Should there be any delays in payments from customers, the platform allows the user to create a 10-day final demand letter free of charge, which will be issued directly to the customer. Should this not deliver payment, then the user can issue debt instructions directly through the platform to be collected for a market leading 20% no win, no fee payment by one of the leading business to business debt collectors in the market.”

Product Launched: February 2012

HQ Location: London, UK
Company Founded: April 2008
Metrics: 63 employees,135,000 small business customers
Website: bcsg.com

Presenting John Davis (Managing Director) & Alan Marsh (Product & Marketing Director)
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Brokertainment’s StockBattle Lets Users Engage in Social Betting on Stocks

By Julie Muhn (@julieschicktanz) Posted on
Categories: Brokertainment, FinovateEurope 2012

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Then, iBrokr AG shared Brokertainment, its fast-paced version of betting on stock market indices:

“StockBattle allows social betting on stocks or capital markets indices. StockBattle could be also described as “user created risk”. Example: Person A thinks oil will decrease in its value today between 12:00 and 12:30 and bets €2 on that. Person B thinks the opposite and counters that battle also with €2. At 12:30, we know who gets €4 (minus the transaction fee).”

Product Launched: Beta: October 2011

HQ Location: Munich, Germany
Company Founded: January 2010
Metrics: 100% subsidiary of Fidor Bank AG, 4 employees (including IT), roughly 30,000 registered members generated revenues in 2011 (the first full year of testing the trading applications) above €100k less than €10k in Marketing/Sales.
Website: brokertainment.de

Presenting Christian Hampp (Director) & Michael Rolph (Director) 
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PayPal Demonstrates Instant Account Creation

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2012, PayPal

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Third, PayPal came on stage with la Caixa to show off instant account creation technology:

“You can open a PayPal account in 30 seconds from the secure environment of la Caixa’s home banking. We use our combined APIs to leverage the verified customer information that la Caixa has from its clients to speed customers through the PayPal account creation flow. All you need to do is choose your email address and decide on a password and with a couple of clicks, you can have your PayPal account up and running with a verified card linked to it.”

Product Launched: November 2011

HQ Location: San Jose, CA
Company Founded: 1998
Metrics: 

    • 2010 annual revenue was $3.4 billion, up 23 percent year over year
    • International business accounted for 47% of revenue in 2010
    • Net Total Payment Volume for 2010 was nearly $92 billion, up 28% year-over-year
    • Total Payment Volume in 2010 represented nearly 18% of global e-commerce 
    • Cross-border trade now accounts for approximately 25 percent of PayPal’s Total Payment Volume
    • Merchant Services processed $56 billion in Total Payment Volume in 2010, up 42% year-over-year.

Website: paypal.com

Presenting Estanis Martin De Nicolas (PayPal Spain Country Mngr) & Sergi Bisquert (Dir. of Innovation, Payment Methods, La Caixa)
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Ping Identity Shows How Financial Institutions Can Use Social Networking Logins

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2012, Ping Identity

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Second up, Ping Identity demonstrated how PingFederate and Cloud Identity Connectors integrate with third party products:

“Ping Identity will show how it is possible to use social networking logins to increase customer conversion rates, reduce and simplify risk management, reuse existing infrastructures and technology investments, and increase business agility.”

Product Launched: July 2011

HQ Location: Denver, Colorado
Company Founded: 2003
Metrics: $21 million in recent funding; 200 employees; over 700 worldwide customers
Website: pingidentity.com

Presenting Travis Spencer (Senior Technical Architect)
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Nutmeg Offers a Tailored Investing and Saving Experience

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2012, Nutmeg

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To start off FinovateEurope 2012, Nutmeg shared its platform that allows the average user to invest wisely:

“Nutmeg makes saving and investing simple. Simply choose your investing goals, when you will need your money and how much you can invest. Nutmeg then assesses your personal circumstances, checking affordability and suitability, before implementing and actively managing a personalised investment portfolio that is diversified across geographies and asset classes. Crucially, the user has control over the target level of volatility by considering probable outcomes on illustrations that demonstrate expected returns. Nutmeg offers a high class saving and investing experience and comprehensive user support, even for users with limited wealth. 

Regular portfolio rebalancing, a rewards scheme that improves returns by lowering fees, and intuitive data providing a clear portfolio breakdown allows anyone from the most experienced to the novice investor to take control. No longer will personal investing solely be the domain of the rich. Nutmeg offers a true alternative to expensive trading or being forced into a low-interest bearing bank account.”

Product Launched: December 2011

HQ Location: London, UK
Company Founded: January 2011
Website: nutmeg.co.uk

Presenting Nick Hungerford (CEO & Co-Founder) & Jono Hey (Head of User Experience)
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Mitek Systems Partners with Progressive Insurance

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

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Today, Mitek Systems announced a partnership with Progressive Insurance, who will use Mitek’s Mobile Photo Quoting technology to automate insurance purchases:

“Using the Progressive mobile application… the consumer simply enters their zip code and takes a picture of their driver’s license, Vehicle Identification Number or existing insurance ID card. Mitek’s patented mobile imaging technology automatically extracts relevant information from the documents and auto-populates the fields in Progressive’s mobile quoting app… Moments later, they receive an auto insurance quote with the option to buy.”

Mitek also has Photo Payment, Photo Claims, and Document Capture and Send technology included in its insurance solutions suite.

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

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Finovate Alumni News– February 2, 2012

By Julie Muhn (@julieschicktanz) Posted on
Categories: Credit Sesame, Dwolla, Mint.com, Personal Capital, Xero
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSilicon Prairie News reports Dwolla rolls out Instant feature.
  • After raising $15 million, Xero acquires Max Solutions for almost $5 million.
  • Mint.com releases app for Android tablets.
  • Personal Capital named to Online Banking Report Hall of Fame, for personalized asset management service.
  • Credit Sesame launches credit card 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.

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Jemstep Receives $6 Million in Series A Funding

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

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Jemstep, an online investment guidance startup that tracks over $170 million in investments, announced today it received $6 million in funding. 

This installment from private investors completes Jemstep’s Series A funding, bringing the total up to $10.5 million.

The California-based startup plans to use the funding for product development, growth, and corporate recruitment.

To learn more about Jemstep, watch its FinovateSpring 2010 demo.

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SmartyPig Changes Name, Launches GoalSaver Platform

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

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Iowa-based SmartyPig, a social savings innovator, made two announcements today:

    • Changed its corporate name to Social Money Systems
    • Launched GoalSaver, a bank-branded social savings and transaction platform

GoalSaver features include:

    • Customizable user interface
    • Financial education 
    • A Dashboard to view goal details (see screenshot 1)
    • Shared goal page (see screenshot 2)

In addition to benefitting banks, GoalSaver is also available to industries such as insurance, prepaid cards, and merchants who need layaway solutions.

To learn more about SmartyPig, watch its FinovateFall 2010 demo.

(Screenshot 1: goal dashboard)

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(Screenshot 2: shared goal page)
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