Finovate is part of the Informa Connect Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Stockholm-based PFM expert, Meniga announced early this month that it has raised USD $6.5 million (€5 million) in series A funding.
Iceland-based Kjolfesta led the capital round. Frumtak, a previous investor in Meniga’s 2010 seed round, also participated.
Meniga will use the funds to better help banks provide a relavant and personalized customer experience by converting raw data into valuable information.
To learn more about Meniga, watch its FinovateEurope 2013 demo.
With exactly two months to go until our seventh annual FinovateFall, it’s finally time to reveal the presenter lineup for the event.
On September 10 & 11, these companies will take the stage to demo their newest innovations to a packed crowd of more than 1,000 financial executives, venture capitalists, press, industry analysts and entrepreneurs.
This fall, the application process to select the innovations for the conference was incredibly competitive. While that makes for hard choices for our selection committee, it also lays the foundation for another amazing FinovateFall filled with cutting-edge fintech innovation.
Without further ado, here are the companies that will be demoing their latest and greatest in Manhattan:
|
|
|
We will be also be announcing several stealth companies closer to the event.
If you’re interested in witnessing the future of fintech debut in September at FinovateFall, please get your ticket today to guarantee your place (we’re headed towards a sellout).
We’ll see you in New York in September (or Singapore in November)!
FinovateFall 2013 is sponsored by: The Bancorp, Financial Technology Partners, Hudson Cook LLP & Visa
FinovateFall 2013 is partners with: American Bankers Association, BankersHub, California Bankers Association, Celent, Filene Research Institute, Finance on Windows, Hotwire PR & IvyExec.
Data analytics platform ERN Global announced that it has raised $1.6 million (€1.2 million) in seed funding.
This second round of seed funding, combined with the $2 million that the UK-based company received late last year, brings the company’s total funding up to $3.6 million.
The funding comes from “a number of high net worth individuals” and will be used to further develop ERN’s customized loyalty platform, Looop (pictured below), which it launched at FinovateEurope in February.
To learn more about ERN and see Looop in action, watch its FinovateEurope 2013 demo.
Payment processing company Braintree recently announced it is now processing $10 billion in payments annually.
This is $2 billion (20%) more than the Massachusetts-based company reported in April of this year and it is 2x more than what it was processing 6 months ago. According to Pando Daily, 25% of this growth comes from international merchants.
Braintree also recently added Swedish game developer Mojang to its list of clients, which includes:
To learn more about Braintree, watch its FinovateSpring 2013 demo.
Netbanker walks through Moven’s invite and application process.
Courtesy of collaboration with Braintree, banking with Simple just got simpler.
The partnership between the global payments company and the online mobile banking innovator will give Simple’s customers access to Venmo Touch. Adding this feature to their mobile app allows Simple to provide one-touch purchasing throughout Venmo’s app network ranging from Uber, Hotel Tonight, and Wrapp.
Manilla announced today that it has topped the 500,000 mark in terms of activated users. This figure represents a doubling of the bill management company’s user base in the last six months.
Authentify launches security app for mobile devices, replacing passwords with digital images and spoken pass phrases.
I finally received a Moven (bank) invite, first forwarded from a reader (thanks, Michael), then a few days later directly from the company (see screenshot #1). Yesterday, I went through the drop-dead simple application process (see screenshots 2-8) and as soon as my card arrives, I’ll start putting transactions into the system.
The application is well designed. Here are a few things other financial institutions can learn from my Moven experience:
Bottom line: Going in, my expectations were high. And Moven still exceeded them. This was a near-perfect signup process as far as I was concerned. The only flaw was the slightly confusing Facebook authorization process. After clicking the Facebook button on the bottom of the first page (ss #2), I expected to see Facebook talking to me about what I wanted to share with Moven. But instead, I proceeded directly to the next page of Moven’s app with no mention of Facebook. I assume this happened because I’d already authorized Moven to access my Facebook account months ago when I registered at the site. But overall…impressive.
——————————-
1. Moven invite (1 July 2013)
2. Personalized landing page with Facebook integration (required)
Note: My email address is already lifted from the invite
3. Name and email confirmation
4. Terms and conditions
Note: Issuer is CBW Bank
5. Choose 4-digit PIN
6. Personal info
7. Verify mobile number
8. Funding
9. Confirmation
Note:
A.) Trial deposit system is explained
B.) PFM linkage
10. PFM linkage
11. Confirmation email
——————————
Notes:
1. Picture from Moven’s FinovateSpring appearance, 15 May 2013 (video)
2. For more info on other Truly Virtual Banks, see our Oct 2011 Online Banking Report (subscription). For more on advanced PFM features, see Online Banking Report: PFM 4.0 (June 2012; subscription).
SumUp is coming to America – one hemisphere at a time.
The European mobile payments company is expected to reach South American shores by the end of the year, according to a report in TechCrunch published today.
ACI Worldwide announces latest version of ACI Acquirer, the company’s multi-currency merchants management system.
We’ve just published our latest report, Finovate Quarterly: Q2 2103. It focuses on the latest fintech developments, especially the innovations presented at FinovateSpring and the Best of Show winners.
We also look deeper at several recent industry developments including:
The report contains a rundown of the quarterly highlights and milestones of Finovate alums and other fintech companies.
The Finovate Quarterly is complimentary for our Online Banking Report subscribers and is automatically delivered to them via mail. Anyone else can purchase here.
________________________________________________________
About the report
________________________________________________________
Finovate Quarterly (link)
Highlights of Q2 2013, including a look at the best new products from FinovateSpringAuthor: Julie Schicktanz & David Penn, Finovate Group Research Analysts
Editor: Jim Bruene, Finovate Group FounderPublished: 30 June 2013
Length: 75 pages; 16,000 words
Cost: No extra charge to OBR subscribers, US$175 for others here
The printed version will be mailed to subscribers this week.
