Year: 2013

Emida Recruits David Kirtman as New CEO

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

emidalogo3.jpg

Global prepaid solutions company, Emida, has recently added new talent to its team. It announced today that David Kirtman (LinkedIn) will join the company as its new CEO.

Kirtman brings years of stored value and payments experience to the California-based company. Prior to EmidaCEO.jpg joining Emida, David worked for iSend where he helped build the company’s in-kind international payments business.

Shane Belovsky, who was serving as interim CEO, will continue with Emida as COO.

Emida debuted its Cash and Transact service at FinovateFall 2012.

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Finovate Alumni News– December 9, 2013

By David Penn Posted on
Categories: Azimo, Comarch, DeviceFidelity, Fiserv, GMC Software Technology, HelloWallet, NICE Systems, Realty Mogul
  • Thumbnail image for Finovate-F-Logo.jpgAzimo CEO Michael Kent talks about his company’s partnership with The Currency Cloud.
  • Realty Mogul named one of the 18 best startups of 2013 by Business Insider.
  • Bob’s Guide looks at Comarch survey to determine SMB satisfaction with business banking.
  • American Banker reports: Fiserv Releases Financial Crime Risk Platform.
  • 1to1 media features insights on customer service innovation from NICE Systems and GMC Software Technology.
  • Business Standard reviews Hello Wallet’s smartphone app.
  • NFC chip from DeviceFidelity earns commendation in this Forbes column on mobile banking.
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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Finovate Alumni News– December 6, 2013

By David Penn Posted on
Categories: Betterment, Cartera Commerce, Comarch, FutureAdvisor, Jemstep, LearnVest, Moven, ThreatMetrix, TransferWise, Wealthfront
  • Thumbnail image for Finovate-F-Logo.jpgMoney Under 30 reviews the Moven app.
  • Bloomberg BusinessWeek takes a look at Comarch’s report on banking in London’s “Tech City”.
  • Taavet Hinrikus, co-founder of TransferWise, weighs in on the state of the UK’s financial technology industry.
  • ThreatMetrix protected 1 in 4 U.S. e-commerce transactions on Black Friday and Cyber Monday.
  • Cartera Commerce launches American Airlines’ Mobile AAdvantage shopping site.
  • The Guardian profiles “robo-advisors” Betterment, LearnVest, FutureAdvisor, Wealthfront, and Jemstep.
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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Email Design: Discover Card’s “Statement Available” Message

By Jim Bruene Posted on
Categories: Alerts & Messaging, Discover Card, Electronic Statements, Email Samples

image There are a number of financial startups and trail-blazing FIs bringing modern user interfaces to banking. We see dozens of great examples at every Finovate (note 1). And we expect a slew of remodels in the new year as responsive design and other techniques take hold.

But I continue to call out Discover’s design work (previous posts). Partly because I have an account there and see it often and partly because it’s instructive to see how a large full-service bank handles design tradeoffs.

Yesterday’s email from DIscover, reminding me that my monthly statement was ready, shows how the card giant marries good design with useful information.

Most statement alerts are simple one liners asking the user to do all the work: login, find the right tab, click on the correct button, and so on. Discover, on the other hand, positions key summary information right within the body of the email (see screenshot below):

  • Statement end date
  • Statement balance
  • Credit available
  • Minimum payment due
  • Due date

The company includes a button to view the statement at the top, but somewhat buries the payment link near the bottom. 

Analysis: This is one of the better (maybe best) statement-available message I get from the major brands (note 2). But it could still be improved: 

  • Include a Pay Now button.
  • Remind me that I’m on autopay and when to expect the payment in full to be deducted from my bank account.
  • Reword and fix the bottom link. Currently it says “Late and Minimum Payment Warning.” That sounds like there must be a problem with my account. But there isn’t, so I assume that is supposed to link to the alerts maintenance area. However, that link wasn’t working, so I just was dumped onto the main secure account page. It was very confusing.
  • Add a link to customer service, both self-serve and human powered.
  • Add the amount of rewards earned this period. It’s always nice to be reminded of free money received. 

image

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Notes:
1. For example, a recent crowd favorites was from Poland’s mBank which demoed alongside Accenture at FinovateFall in September (demo video).
2. We dug deep into this area a few years ago in our reports (subscription):
– Email Banking: Revitalizing the Channel (August 2010)
– Alerts & Streaming (July 2010)
– Paperless Billing & Banking (Nov. 2010)

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Lending Club Tops $3 Billion Mark for Personal Loans Originated

By David Penn Posted on
Categories: Lending Club

Thumbnail image for LendingClubLogo.jpg

When Lending Club demoed at Finovate Startup in 2009, the company boasted $35 million in personal loans originated.

This morning, we learn that Lending Club has reached $3 billion in personal loans originated, with $2 billion of that amount generated in 2013 alone.

With 225,000 loans in 44 states, Lending Club continues to leverage its lending technology to put borrowers and lenders together in a way that saves money compared to the kind of lending that characterizes traditional banking. Lending Club CEO Renaud Laplanche said, “it is gratifying to see how many people we’ve been able to help achieve their goals this year, from consolidating debt to paying off credit cards to completing home improvement projects.”

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Lending Club’s technology matches creditworthy potential borrowers with lenders looking for returns. Rates available for borrowers are typically better than credit card rates, and lenders benefit from putting their capital to work earning solid returns and generating cash flow.
In addition to strong, year-ending metrics, Lending Club’s 2013 has been positive overall. The company secured an investment from Google, part of a secondary transaction worth $125 million. Lending Club also made significant additions to its executive team and advisory board, bringing former Capital One Bank SVP Sid Jajodia on board for the former and luminaries like Mary Meeker and Lawrence Summers on board for the latter.
In store for 2014, according to Laplanche, are stepped up efforts to help Lending Club become a more “mainstream brand,” as well as expansion into new product categories. The Lending Club team now stands at more than 300 employees, and recently expanded to a fourth floor at its San Francisco location.

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Kabbage Adds Square Transactional Data to its Credit Decisioning Process

By David Penn Posted on
Categories: Kabbage

Thumbnail image for KabbageLogo.jpg

Kabbage is the latest company to decide that it really is hip to be Square, after all.

The SME online lender announced that it will now use transactional data from companies that use Square to process payments as a tool for helping allocate capital and make loans.

The use of Square data for underwriting purposes is novel, according to Kabbage. Company co-founder and CEO Rob Frohwein credits the platform’s “flexibility and power” in describing Kabbage’s ability to “leverage the broadest range of business data sources … to (make) funding simple and accessible to small business everywhere.”

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Kabbage is a pioneer in the field of online small business lending. The Atlanta-based company specializes in analyzing data from actual business activity, from shipping data and seller channels to social media. This enables the lender to know more about their potential borrower than is often discovered using traditional credit modeling methods. A partnership with Intuit provides “under 7 minute” funding decisions for customers who use QuickBoooks.
Kabbage was most recently in the headlines with news of its partnership with Xero. The deal allows Kabbage to use small business accounting data as part of the basis for underwriting decisions. The company also announced earlier this year that it had integrated with Stripe to make it easier for companies that process online payments to apply for financing.
Kabbage demoed its technology as part of the FinovateSpring show in San Francisco this spring. See the company in action here.

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Finovate Alumni News– December 5, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Better ATM Services, Dwolla, Expensify, Fiserv, Intuit, TSYS
  • Finovate-F-Logo.jpgDwolla announces partnership with Fiverr by giving away free Fiverr gigs.
  • FinovateEurope 2014 Presenting Companies Revealed.
  • Intuit to Acquire Docstoc, Small Business Document Startup.
  • Better ATM Services rolls out reseller network and announces first agreement with Express Teller Services.
  • TSYS earns spot on the National Conference on Citizenship’s The Civic 50.
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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FinovateEurope 2014 Presenting Companies Revealed!

By Eric Mattson Posted on
Categories: Uncategorized

FinovateEuropeButton.png

With just 68 days to go until our fourth annual FinovateEurope, it’s finally time to reveal the presenter lineup for the event.

On February 11 & 12, these companies will take the stage to demo their newest fintech innovations to a projected crowd of over 900 financial executives, venture capitalists, press, industry analysts and entrepreneurs.

With the explosion in European fintech activity in the last year, 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 FinovateEurope filled with cutting-edge fintech innovation. 

Without further ado, here are the companies that will be demoing their latest and greatest in London next February:

  • AdviceGames
  • AnalytixInsight
  • Atsora
  • Avoka
  • Backbase
  • BehavioSec
  • Blue Speck Financial
  • Buttercoin
  • CRIF
  • CurrencyTransfer.com
  • Device Ident
  • Encap
  • ETRONIKA
  • EXCESS RETURN
  • EZBOB
  • fastacash
  • Feedzai
  • Fiserv
  • Five Degrees
  • GMC Software Technology
  • IND Group
  • ITSector
  • Jumio
  • Kensho
  • Kofax
  • LifePay
  • Luminous
  • Luxoft
  • Matchi
  • Meniga
  • The Moneyer
  • Money on Toast
  • My Order
  • myWishBoard
  • NF Innova
  • Nostrum Group
  • Nous.net
  • payworks
  • PhotoPay
  • Pixeliris
  • Plutus Software
  • SaaS Markets
  • SecureSafe
  • Smart Engine
  • SoftWear Finance
  • SQLI
  • Temenos
  • Tink
  • Tootpay
  • Top Image Systems
  • Topicus Finan
  • Toshl
  • Trustev
  • Yseop

We will be also be announcing over a dozen stealth companies closer to the event.

If you’re interested in witnessing the future of European fintech debut in London next February, please get your ticket today to guarantee your ability to attend as we’re headed towards a sellout crowd. Plus if you register before December 21st, you’ll save £100 via the early-bird discount!

We’ll see you in London in February (or Silicon Valley in April)!

FinovateEurope 2014 is sponsored by: The Bancorp, Be Group, Financial Technology Partners, and Life.SREDA.

FinovateEurope 2014 is partners with: Aite Group, BankersHub, Celent, The Financial Services Club, FSIC, Hotwire PR & Visible Banking.

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FinovateEurope 2014 Presenting Companies Revealed!

By Eric Mattson Posted on
Categories: Uncategorized

FinovateEuropeButton.png

With just 68 days to go until our fourth annual FinovateEurope, it’s finally time to reveal the presenter lineup for the event.

On February 11 & 12, these companies will take the stage to demo their newest fintech innovations to a projected crowd of over 900 financial executives, venture capitalists, press, industry analysts and entrepreneurs.

With the explosion in European fintech activity in the last year, 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 FinovateEurope filled with cutting-edge fintech innovation. 

Without further ado, here are the companies that will be demoing their latest and greatest in London next February:

  • AdviceGames
  • AnalytixInsight
  • Atsora
  • Avoka
  • Backbase
  • BehavioSec
  • Blue Speck Financial
  • Buttercoin
  • CRIF
  • CurrencyTransfer.com
  • Device Ident
  • Encap
  • ETRONIKA
  • EXCESS RETURN
  • EZBOB
  • fastacash
  • Feedzai
  • Fiserv
  • Five Degrees
  • GMC Software Technology
  • IND Group
  • ITSector
  • Jumio
  • Kensho
  • Kofax
  • LifePay
  • Luminous
  • Luxoft
  • Matchi
  • Meniga
  • The Moneyer
  • Money on Toast
  • My Order
  • myWishBoard
  • NF Innova
  • Nostrum Group
  • Nous.net
  • payworks
  • PhotoPay
  • Pixeliris
  • Plutus Software
  • SaaS Markets
  • SecureSafe
  • Smart Engine
  • SoftWear Finance
  • SQLI
  • Temenos
  • Tink
  • Tootpay
  • Top Image Systems
  • Topicus Finan
  • Toshl
  • Trustev
  • Yseop

We will be also be announcing over a dozen stealth companies closer to the event.

If you’re interested in witnessing the future of European fintech debut in London next February, please get your ticket today to guarantee your ability to attend as we’re headed towards a sellout crowd. Plus if you register before December 21st, you’ll save £100 via the early-bird discount!

We’ll see you in London in February (or Silicon Valley in April)!

FinovateEurope 2014 is sponsored by: The Bancorp, Be Group, Financial Technology Partners, and Life.SREDA.

FinovateEurope 2014 is partners with: Aite Group, BankersHub, Celent, The Financial Services Club, FSIC, Hotwire PR & Visible Banking.

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Youth Payments Platform Virtual Piggy Rebrands as Oink

By David Penn Posted on
Categories: Virtual Piggy

oink_newlogo.jpg

If you liked them as Virtual Piggy, then you’ll love them as Oink.

At least that’s the bet if you’re a teenager or the parent of one (or two). The Finovate alum (FinovateEurope 2013) and Best of Show winner is taking a data-driven gamble that their new name will put the company more in sync with the young teens who disproportionately use the COPPA-compliant, parental controls-equipped, youth-centered payments platform.

oink_homepage.jpg

As Virtual Piggy – and now as Oink – the platform works by providing young people (under 18) with an opportunity to spend and save their money in a safe and parent-controlled way. The platform is compliant with the Children’s Online Privacy Protection Act (COPPA), as well as other privacy laws, and gives e-commerce merchants the opportunity to reach the estimated $50 billion in spending every year by consumers under the age of 18.
So why the name change? Company founder and CEO Jo Webber and her team discovered that more than 65% of their active users were, in fact, over the age of 13. Having built the company based on appealing to a younger, pre-teen demographic, Webber realized that a name change – out with “piggy” in with “oink” – might help better present the company to young teens and their parents.
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Video also available here.
There’s more to what’s new with the company than the name change. There is a new iOS app, for one. And Oink, as Virtual Piggy, has announced a number a partnerships in recent weeks and months with video and social game companies like Live Gamer, Habbo Hotel, and Marvelous USA. In June, the company announced that it had topped a quarter of a million users. As of December, that number has tripled.
The new Oink has a new Oink.com website, which includes an online store with links to Oink-friendly retailers ranging from Adidas and Aeropostale to Walmart and Zappos.

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Finovate Alumni News– December 4, 2013

By David Penn Posted on
Categories: ACI Worldwide, BancVue, BBVA, Digital Insight, Doxo, Emida, EyeVerify, IntelliResponse, Intuit, Kabbage, MiiCard, Mint.com, Payoneer, PayPal, Prosper, RevolutionCredit, Taulia, TipRanks
  • BBVA Compass announces launch of BBVA Research iPad app.
  • Bank Innovation column on fintech in Israel features TipRanks and Payoneer.
  • Emida launches Handset and SIM Programs.
  • BancVue and other Credit Unions Help U-Haul Refinance Corporate Debt.
  • Prosper’s daily average loan originations grew almost 10% in November over October.
  • The Next Web reports: PayPal launches a digital gift store, featuring Apple as its sole launch partner.
  • City of Gig Harbor Launches on doxo; More than 5% of Residents Go Paperless in the First 90 Days.
  • Forbes: Kabbage Now Uses Square Data to Provide SMB Funding.
  • Mint is now available on Windows 8.1 and Windows Phone 8.
  • btcQuick Bitcoin Exchange working with miiCard to mitigate fraud.
  • EyeVerify interviewed on The Kansas City Power Lunch radio program.
  • IntelliResponse wins bronze in Best in Biz Awards’ Most Innovative Product of the Year category for 2013.
  • Intuit to purchase document startup company, Docstoc.
  • American Banker features Zaydoon Munir, founder of RevolutionCredit.
  • ACI Worldwide adds new executives, open new South American HQ in Sao Paolo, Brazil.
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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Finovate Alumni News– December 3, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Blackhawk Network, Cardlytics, Digital Insight, Geezeo, Jack Henry, MasterCard, Swipely, wipro, Xero
  • Finovate-F-Logo.jpgSwipely expands to new HQ building.
  • Wipro to buy mortgage consultancy firm Opus Capital Markets Consultants.
  • Apex Community FCU to offer Geezeo white label PFM.
  • Forbes highlights Cardlytics‘ growth and future of card-linked offers.
  • Xero adds 2 Australian banking partners: Greater Building Society and Investec.
  • TechCrunch reports: Blackhawk Network Picks Up Gift Card Startup, Retailo, To Bolster Its Reach In Europe.
  • C-SAM launches MasterPass-powered (MasterCard) digital wallet solution for FIs.
  • Jack Henry Banking wins outsourcing contract with Univest Corporation of Pennsylvania.
  • NCR to buy Digital Insight from Thoma Bravo for $1.65 billion.
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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