David Penn, Author at Finovate

Aurora Financial Systems Presents NOTE, a Vertically Integrated Budgeting Solution for FIs

By David Penn Posted on May 13, 2015
Categories: Aurora Financial Systems, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Aurora Financial Systems is demoing NOTE, a budgeting solution to help consumers manage discretionary spending.

NOTE is the first vertically integrated budgeting solution for Financial Institutions. Unlike other products, which promote leaving your bank for their products, NOTE was created to manage your discretionary spend and compliment the FIs checking and savings accounts. We use MX’s award-winning budgeting solution and our processor is directly connected to provide real-time budget updates.

Presenters: Scott Stagg, CEO and founder, and Chris Melendez, chief strategy officer

Product Launch: April 1, 2015

Metrics: $15M raised to date; 15 employees; $2M annual revenues; limited users and website traffic as we’ve previously focused on B2B incentive card business
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions

HQ: Purchase, New York
Founded: November 2009
Website: aurora-fs.com

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The Slice Platform Enables FIs to Make the Most of Customer Purchase Data

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, Slice

This post is part of our live coverage of FinovateSpring 2015.

Slice Technologies‘ platform helps banks access and take advantage of customer online purchase data.

The Slice Platform lets financial institutions build new features and functionalities based on a visitor’s online purchase profile, using the largest and most comprehensive set of online purchase data anywhere. Slice’s customer-partner implementations are white-label applications of Slice data that create new personalization, monetization, retention and advertising opportunities.

Harpinder Singh, standing, CEO and co-founder

Product Launch: September 2014

Metrics: The Slice panel is comprised of more than 2M users; Slice has recorded data from more than 2M merchants; Slice’s technology recognizes e-receipts from as far back as 2006; the popular Slice shopping app is frequently featured in the app stores and averages 4.5 stars.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Palo Alto, California
Founded: 2010
Website: slice.com
Twitter: @HelloSlice

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Context Relevant Introduces its Advanced Analytics Platform for Financial Services and Security

By David Penn Posted on May 13, 2015
Categories: Context Relevant, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Context Relevant is the company that helps FIs handle big data in real-time.

Context Relevant’s automated, predictive analytics technology is the only system with sufficient scale to automate, compute, and analyze petabytes of structured and unstructured data in real-time, incorporating findings back into its modeling process automatically. These adaptive learning systems’ ability to make sense of seemingly unrelated data, at scale and real-time, is redefining industries from finance to aeronautics.

Presenters: Divanny Lamas, standing, VP of product management; Konstanin Getmanchuk, financial products

Metrics: Context Relevant employs more than 65 people across three offices located in Seattle, New York City and Palo Alto and expects to double its size in 2025. The company raised over $42M in a Series B-1 round in Q3 2014.

Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Seattle, Washington
Founded: January 2012
Website: contextrelevant.com
Twitter: @contextrelevant

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DriveWealth’s Brokerage as a Service Platform Brings U.S. Markets to Global Investors

By David Penn Posted on May 13, 2015
Categories: DriveWealth, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

DriveWealth demonstrated its “Brokerage as a Service” platform:

DriveWealth’s innovation is to offer “Brokerage as a Service.” By way of our full-technology stack and regulatory licenses, financial companies that currently offer investing in their local markets (i.e., India, China, Latin America, United States) can now offer their clients the ability to trade U.S. stocks in a low-cost, friction-free environment. We present to these partners embeddable HTML5 “widgets” for account opening, funding, compliance document upload and trading. Partners can use these multilingual plug/play widgets as well as industry standard APIs (RESTful and FIX) to easily add U.S. stocks to their offering. We take care of all the “hard stuff” including trade execution, regulatory compliance, safety of funds, and clearing of trades.

Presenters: Michael Fitzgerald, head of corporate strategy, and Aric Rosenbaum, chief technology officer

Product Launch: April 2015

Metrics: 25-30 employees; $10M raised to date; 40,000+ registered users/customers
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Chatham, New Jersey
Founded: May 2012
Website: drivewealth.com
Twitter: @drivewealth

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Hedgeable’s Robo-advisor 2.0 Platform Automates Risk-managed Investing

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Hedgeable

This post is part of our live coverage of FinovateSpring 2015.

Hedgeable presented its robo-advisor 2.0 platform.

Hedgeable’s robo-advisor 2.0 platform allows any investor with an IRA, rollover, taxable, trust, 401(k), or business account to manage a customized low-cost, risk-managed portfolio with as little as $5,000 in 5 minutes. Hedgeable is hugely disruptive because it brings an ultra-high-net-worth allocation to emerging affluent investors who are traditionally shut out from accessing sophisticated investing solutions.

Hedgeable’s platform is not your typical cookie-cutter robo-advisor. It includes dozens of automated stock and ETF portfolios featuring sophisticated features such as downside protection, tactical management, and access to alternative asset classes such as bitcoin, private equity, gold, and real estate. All portfolios are customizable using complex data science and 100+ proprietary investment technology systems created by Hedgeable’s team of world-renowned technologists.

Hedgeable’s investing platform is distributed direct-to-consumer online and also licensed to RIAs, planners, trusts, banks, and other partners around the globe.

Presenting CEO Michael Kane, master sensei, and Matthew Kane, co-founder and chief ninja

Product Launch: May 2015

Metrics: $1.85M raised to date
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, through other fintech companies and platforms, licensed

HQ: New York City, New York
Founded: April 2009
Website: hedgeable.com
Twitter: @hedgeable

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Digital Insight Previews its Mobile Banking App with Beacons

By David Penn Posted on May 12, 2015
Categories: Digital Insight, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Digital Insight is demonstrating how it incorporated beacon technology into its mobile banking app.

Digital Insight is illustrating the use of beacons within its mobile banking app. Digital Insight is designing more personalized, relevant, and contextual experiences based on knowledge of a user’s location. Beacons are one way of using the context of location to better tailor a user’s experience in banking branches and give financial institutions additional data on their customers to engage with them more effectively and offer them the right products and services.

Presenters: Marshall Yuan, senior product manager; Ronald Yeung, engineering lead

Product Launch: Digital Insight has conducted a pilot with one financial institution. Based on what is learned from the pilot, Digital Insight will expand the availability to other financial institutions later in the year.

Metrics: Digital Insight has a customer base of approximately 900 financial institutions; end users number 12M online banking and nearly 4.8M mobile banking. Digital Insight was acquired by NCR (NYSE: NCR) in January 2014.
Product distribution strategy: Through financial institutions

HQ: Redwood City, California
Founded: July 1995
Website: digitalinsight.com
Twitter: @Digital_Insight

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Someone With Group Presents its White Label Crowdfunding Platform to Help Patient Pay Medical Bills

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Someone With Group

This post is part of our live coverage of FinovateSpring 2015.

Someone With Group is our next presenter with its platform that provides funding for patients needing help paying medical bills.

Someone With Group’s white-label crowdfunding platform provides a new source of funds for hospital-sponsored patients struggling to pay their medical bills. Using our online toolkit and live coaching, patients create fundraising campaigns and broadcast those campaigns via social media and email.

The Someone With Group solution verifies patients’ identities, is HIPAA- and banking-regulation compliant, and adheres to anti-money-laundering practices. Contributions are loaded onto a GPR MasterCard debit card. Spending is restricted to medical bills and medical supplies.

Presenters: Paula Jagemann-Bane, CEO and founder; Matt Pomrink, COO and president

Product Launch: January 2015

Metrics: Some With Group has raised over $3M from its founder, with modest friends-and-family support; first revenue, November 2014; 9 employees; 8 outsourced technologists.
Product distribution strategy: Direct to Business (B2B)

HQ: Frederick, Maryland
Founded: October 2013
Website: someonewithgroup.com
Twitter: @Some1WithGroup

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StockViews Helps Investors by Crowdsourcing Alpha Instead of Opinion

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, StockViews

This post is part of our live coverage of FinovateSpring 2015.

StockViews is presenting its investing platform that crowdsources the insights of top-rated analysts.

The “StockViews Signal” aggregates the recommendations of our top-rated analysts into a unique and powerful buy or sell signal. Previous attempts to crowdsource market wisdom have failed, because the result tends to mirror the conclusion already reached by the market (the market itself is a crowdsourcing mechanism). Instead of crowdsourcing opinion, we crowdsource alpha by aggregating opinions only of analysts who have demonstrated a consistent track record of beating the market.

Presenters: At left, Tom Beevers, CEO and co-founder; at computer, Tara Hyland

Product Launch: May 2015

Metrics: StockViews has more than 500 active analysts contributing ratings directly to the platform. Over 23,000 ratings have been created since May 2014.
Product distribution strategy: Direct to Business (B2B)

HQ: London, England, United Kingdom
Founded: May 2014
Website: stockviews.com
Twitter: @stockviewsnews

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Onovative Presents Core iQ to Make Customer Data More Extractable and Actionable

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Onovative

This post is part of our live coverage of FinovateSpring 2015.

The co-founders of Onovative are demonstrating Core iQ to help FIs make the most out of customer data:

Banks and credit unions have an abundance of customer data already present in their current software systems. The problem is, that data isn’t easily actionable or extractable when they want to use it to communicate with customers. Core iQ connects to those systems in a secure manner, behind the firewall, to enable automatic communication and cross-selling through email, SMS text, direct mail, and many other channels.

Core iQ presenters: Co-founders Michael Browning and Clay Turner

Product Launch: September 2014

Metrics: We have 6 employees and raised $400,000 in August of last year. Our financing round was completely filled within 20 days. Our founders have had successful exits in the past with other technology companies.

Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed.

HQ: Jeffersonville, Indiana
Founded: June 2013
Website: onovativebanking.com
Twitter: @onovative

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GlobalGateway from Trulioo Gives Businesses Bank-grade Online ID Verification

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Trulioo

This post is part of our live coverage of FinovateSpring 2015.

Trulioo is demonstrating its ID-verification technology.

Trulioo’s bank-grade identity-verification product, GlobalGateway, enables businesses to perform frictionless online identity verification for more than 3 billion people in more than 40 countries via 140 data sources—the widest coverage in the market. GlobalGateway helps businesses meet AML and KYC identity-verification requirements by powering fraud and compliance systems for customers worldwide to help increase trust and safety online. Businesses can access hundreds of trusted and reliable data sources via Trulioo’s Normalized API to verify international customers in real-time, increasing customer acquisition and revenue, while reducing risk and fraud, and fulfilling industry and regional compliance.

GlobalGateway-by-Trulio presenter: Anatoly Kvitnitsky, director of corporate development

Product Launch: August 2014

Metrics: 20 employees; $10M raised; over 3B profiles in more than 40 countries via 140+ data sources; more than 100M cyber identities scored
Product distribution strategy: Direct to Business (B2B)

HQ: Vancouver, British Columbia, Canada
Founded: August 2011
Website: trulioo.com
Twitter: @trulioo

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INETCO Analytics Helps FIs Maximize Omnichannel Engagement with Customers

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, INETCO Systems

This post is part of our live coverage of FinovateSpring 2015.

INETCO Systems demoes next with its analytics platform to help FIs make the most of omnichannel customer engagement.

INETCO Analytics provides financial institutions with the game-changing knowledge of where, when and how customers interact with their channels. This application makes it easy for business managers to instantly access the transaction data they need to drive consumer banking engagement strategies and deliver greater profitability across all banking channels.

INETCO presenters: Marc Borbas, VP, product marketing; Dallas Pretty, CFO

Product Launch: January 2015

Metrics: Privately funded; 35+ employees; 100% revenue growth per annum since 2012; global customer base of more than 50 banks, payment processors, telco providers and retailers.
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed

HQ: Burnaby, British Columbia, Canada
Founded: June 1984
Website: inetco.com
Twitter: @INETCOAnalytics

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TrueAccord Introduces White-label Version of its Automated Debt Recovery Platform

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, TrueAccord

This post is part of our live coverage of FinovateSpring 2015.

TrueAccord demonstrates the white-label version of its debt-recovery platform.

After offering its services as a branded, third-party collection service, TrueAccord now makes its automated platform available as a white-labeled, SaaS solution. Lenders, issuers, retailers, and debt collectors will now be able to harness the power of true digital, machine-learning-driven communication with their customers and the increased response, recovery and customer satisfaction that come with it. TrueAccord is showcasing the debtor experience as well as the flexibility of controls and data feedback a company can get when it uses TrueAccord’s platform for its debt-collection needs.

Presenters: Ohad Samet, CEO; Nadav Samet, CTO

Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: San Francisco, California
Founded: N.A.
Website: trueaccord.com
Twitter: @trueaccord

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Finovate Blog

Author: David Penn

Aurora Financial Systems Presents NOTE, a Vertically Integrated Budgeting Solution for FIs

The Slice Platform Enables FIs to Make the Most of Customer Purchase Data

Context Relevant Introduces its Advanced Analytics Platform for Financial Services and Security

DriveWealth’s Brokerage as a Service Platform Brings U.S. Markets to Global Investors

Hedgeable’s Robo-advisor 2.0 Platform Automates Risk-managed Investing

Digital Insight Previews its Mobile Banking App with Beacons

Someone With Group Presents its White Label Crowdfunding Platform to Help Patient Pay Medical Bills

StockViews Helps Investors by Crowdsourcing Alpha Instead of Opinion

Onovative Presents Core iQ to Make Customer Data More Extractable and Actionable

GlobalGateway from Trulioo Gives Businesses Bank-grade Online ID Verification

INETCO Analytics Helps FIs Maximize Omnichannel Engagement with Customers

TrueAccord Introduces White-label Version of its Automated Debt Recovery Platform