DarcMatter Brings Transparency, Access to Alternative Investments

DarcMatter Brings Transparency, Access to Alternative Investments

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

DarcMatterLogoDarcMatter demoes its platform that gives investors access to alternative investments in private equity, venture capital, and more.

DarcMatter is an investment platform that answers an increasing appetite for alternatives by providing visibility into an otherwise opaque marketplace. DarcMatter provides private issuers comprehensive transactional technology and distribution channels to enhance exposure to a greater number of investors. The platform also features a seamless and compliant engine to receive investments, securely store and disseminate information, and manage the flow of funds. The platform’s unique model enhances investor buying-power by lowering the buying minimums of select opportunities while considerably streamlining capital-raising logistics for private issuers.

Presenter: Founder, CEO Sang Lee; CTO Stan Solodkyy

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HQ: New York City, New York
Founded: November 2014
Website: darcmatter.com
Twitter: @DarcMatterHQ

Cardless Cash from FIS Helps Mobile Banking Customers Make Safe, Speedy ATM Withdrawals

Cardless Cash from FIS Helps Mobile Banking Customers Make Safe, Speedy ATM Withdrawals

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

FIS LOGO WHITE GRADIENT 1.22.13FIS is up next with its Cardless Cash innovation for mobile banking:

Cardless Cash enables mobile banking users to get cash at an ATM in under ten seconds—all from the privacy of their smartphones. Cardless Cash protects customers with biometric security and eliminates skimming fraud risks associated with plastic cards. If you have your phone, you’ve got your cash. Customers experience unparalleled convenience, speed and security of access to cash using only an app.

Presenter of Cardless Cash app: SVP Doug Brown, general manager

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Product Launch: January 2015
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Jacksonville, Florida
Founded: January 1968
Website: fisglobal.com
Twitter: @fismobile

PayActiv’s MyMo Helps Consumers Intelligently Manage Their Finances

PayActiv’s MyMo Helps Consumers Intelligently Manage Their Finances

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

PayActiv Logos CMYKPayActiv introduces MyMo, an app and ecosystem that help employees cover the gap between earning and spending:

PayActiv’s MyMo (My Money) app and ecosystem requires no change in existing IT or payroll process of an employer. Employees enrolled in MyMo can (1) intelligently manage their finances; (2) instantly access funds to bridge the timing gap between earning and spending; (3) deal with emergencies without taking predatory loans or having exposure to overdraft fees.

MyMo presenter: Founder and CEO Safwan Shah of PayActiv

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Product Launch: November 2014

Metrics: Money raised: $6.7M; employees: 10; revenues: early revenue has begun; multiple customers signed
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: San Jose, California
Founded: January 2013
Website: payactiv.com
Twitter: @payactiv

Meet Vouch: The First Social Network for Credit

Meet Vouch: The First Social Network for Credit

Vouch Logo - Updated 4.14 copyThis post is part of our live coverage of FinovateSpring 2015.

And we’re off! The first demo of the day comes courtesy of Vouch, launching its “social network for credit” platform:

Friends and family members trust you with money, so Vouch does, too. Get started by visiting the Vouch website, or downloading the mobile app for iOS or Android. Borrowers apply for loans and ask friends, family, and other personal connections to “vouch” for them by answering a short survey. Vouchers are encouraged to back a portion of the loan to help further reduce the price to borrowers. “Vouches” are used alongside standard financial data to gain a more complete picture of creditworthiness, bringing down the price of loans for borrowers. The more vouches a borrower receives, the lower their rate.

Presenter: Yee Lee, CEO and co-founder

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Product Launch: March 2015

Metrics: Funding, $3M (Seed round)
Product distribution strategy: Direct to Consumer (B2C)

HQ: San Francisco, California
Founded: December 2013
Website: vouch.com

FinovateSpring 2015: Fintech Showdown in San Jose

FinovateSpring 2015: Fintech Showdown in San Jose

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Halfway through rehearsal day on Monday, we learned that the attendance for FinovateSpring 2015 was nearing the 1,400 mark. And the best news about that is that we’re still happy to save a spot for you and yours, just visit our registration page before it’s too late.

Since rehearsal day is the perfect time to make sure everything is just right when the lights go up Tuesday morning, here are a few tips and reminders to help you make the most of your Finovate experience, wherever you may be enjoying it.

Bizzabo You!

Finovate events are known for many things, and high-caliber networking is one of them. So we are again turning to the social networking app, Bizzabo, to help attendees make the most of their time at the show. Bizzabo makes it easy for attendees to reach out and network with each other before, during, and after the show. It is also a great way to learn more about the presenting companies, the event’s sponsors and partners, and the event itself.

Registered attendees can download the Bizzabo app (iOS here, Android here). You can also access Bizzabo via your desktop at this link. If you’re new to Bizzabo, you can sign up using your LinkedIn credentials or set up an account using the same email address you used when registering for Finovate, as well as a password.

After you’ve downloaded the app, search for “Finovate” then select “Join” and you’re set.

If you have any difficulties signing in, please email us at [email protected].

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Tweet Me!

If you can’t make it to San Jose this week for FinovateSpring 2015, don’t despair! Our live Twitter feed is the next best thing to being here.

Find us on Twitter at the handle @Finovate, and be sure to mark your tweets #Finovate. You’ll join an intelligent, occasionally irreverent, community of savvy fintech fans whose insights, observations, and clever remarks will ensure you don’t miss a moment of the show.

Remember you can always get more information about FinovateSpring 2015 at our event page. We have the two-day event schedule, list of presenters, sponsors, partners, and more.

We hope to see you this week at the conference! If you have any questions, check out our FAQ page or send us an email at [email protected].

Finovate Alumni News

On Finovate.com

Around the web

  • Forbes column on a “$30 trillion customer service experience” features insights from Motif Investing CEO Hardeep Walia.
  • Wells Fargo funding authorizes ApproveIt Web Server from Silanis Technology as part of their approved e-signature solutions program.
  • Sun Sentinel article highlights Toshl Finance in a discussion on the eight things you should know before going to college.
  • Column on RIAs and the active ETF market quotes AlphaClone CEO Mazin Jadallah.
  • Bright Funds establishes six disaster-response funds to support Nepal disaster relief.
  • The Economist features Lending Club, Prosper, Zopa, and Kreditech in its look at P2P lending and “financial democracy.”
  • Axis Bank launches Ping Pay, a multisocial payment app, in partnership with Fastcash.
  • PYMNTS.com considers what itBit’s New York banking license and $25M funding means for the broader bitcoin community. See itBit at FinovateSpring 2015 in San Jose this week.
  • ACI Worldwide signs Letter of Commitment to support U.K. Faster Payments Scheme’s New Access Model.

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.

FinovateSpring 2015: We’re On the Way to San Jose

FinovateSpring 2015: We’re On the Way to San Jose

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Spring has sprung! And with it, the return of FinovateSpring to the Bay Area for our second event in San Jose!

This year we will miss the throngs of San Jose Sharks fans marching down the street, packing the pubs, and enjoying the performance of their beloved NHL playoff contender. But we are looking forward to the throngs of financial technology fans who have already saved their spots at what is shaping up to be the biggest FinovateSpring to date.

So, whether you will be joining us here in San Jose, or following us online via Twitter feed (@Finovate) or our Live Blog here at Finovate.com, here’s everything you need to know to be ready when the lights go up on the Finovate stage Tuesday morning.

Schedule
Registration begins at 8:00 a.m. on Tuesday, 12 May. The first demo begins at 8:55 a.m. The final demo of Day One begins at 4:02 p.m.

On Wednesday, registration begins at 8:00 a.m. The first demo will start at 8:55 a.m. The final demo of Day Two begins at 2:28 p.m., with the Best of Show award ceremony at 4:15 p.m.

There’s still time to be a part of our record-breaking audience. Visit our registration page and pick up your ticket today.

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Venue
FinovateSpring returns to the City National Civic, near the campus of San Jose State University. Here’s the address for those of you joining us in person:

135 West San Carlos Street
San Jose, California 95113

Presenters
Over the course of two days, FinovateSpring 2015 will feature 72 companies demonstrating the latest in fintech innovation live on stage. Take a peek at our presenters below, and learn more about them at our presenters page, as well as in our Sneak Peek preview series.

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We hope to see you in San Jose! For more information, visit our FAQ page or email us at [email protected].

itBit Raises $25 Million, Earns New York State Trust Charter Ahead of Finovate Debut

itBit Raises $25 Million, Earns New York State Trust Charter Ahead of Finovate Debut

itBit_homepage

Days away from its debut at FinovateSpring in San Jose, itBit has earned an investment of $25 million from new and existing investors. Participating in the round were Liberty City Venture, RRE Ventures, and individual investor, Jay W. Jordan II, as well as James Pallotta, chairman of Raptor Capital Management.

The round takes itBit’s total funding to more than $30 million. The company said in a statement that the capital will be used for both increasing investment in future products and services, as well as hiring talent in a wide variety of areas from engineering and operations to marketing and customer service.

The investment comes as itBit announces that it has won approval as a New York State trust company. This makes itBit the only federal and New York state compliant, U.S.-chartered and managed bitcoin exchange.

Charles Cascarilla, itBit co-founder and CEO, explained that the approval from the New York State Department of Financial Services (NYDFS) will allow itBit to “serve as a custodian for our clients’ assets” and take advantage of the large pool of bitcoin traders in the U.S. Accounts will be dollar-denominated and FDIC-insured.

“Our mission at itBit has always been to create a trusted, institutional-grade exchange. Regulatory compliance is an important pillar of that mission,” Cascarilla said.

Founded in 2012 and headquartered in New York, itBit provides a platform for both institutional and retail traders and investors to buy and sell bitcoin. The company recently announced major additions to its board of directors: former FDIC chair Sheila Bair, former U.S. Senator Bill Bradley, and former FASB Chair Robert H.Herz.

Join itBit in San Jose for FinovateSpring 2015 next week. Seats are going quickly as we head for another record-breaking attendance at our annual spring event. Visit our registration page and save your spot today.

Finovate Alumni News

On Finovate.com

  • itBit Raises $25 Million, Earns New York State Trust Charter Ahead of Finovate Debut Next Week in San Jose

Around the web

  • The Fiscal Times features Wealthfront, Betterment, Personal Capital, FutureAdvisor, SigFig, and Motif Investing in a column on the rise of the robo-adviser.
  • FierceFinanceIT highlights Lending Club and Prosper in its look at growing investment in P2P lenders by Wall Street.
  • Version 3.5 of Wallaby Financial’s new Android app provides ambient alerts to help consumers save on gasoline.
  • MiiCard CEO James Varga quoted in a column on Edinburgh’s tech pioneers.
  • CAN Capital reaches milestone of $5 billion in working capital facilitated through its platform.
  • Report on fintech in The Economist references Lending Club among key disruptors.
  • Nokia partners with Checkpoint for telco cloud security.
  • MyECheck completes acquisition and integration of Seergate.
  • Yodlee adds LearnVest acquirer, Northwestern Mutual, as client.
  • Javelin Strategy & Research lists 4 trends to watch at Finovate next week. Come see them unfold live at FinovateSpring 12/13 May.

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.

Finovate Alumni News

Around the web

  • itBit wins New York State Trust Company charter. See itBit at FinovateSpring 2015 next week.
  • PC Magazine features Arxan Technologies in a column on security and the “internet of things.”
  • London Evening Standard highlights TransferWise in its tribute to the young unicorns of London’s Silicon Circles.
  • PYMNTS.com looks at Lending Club and sees good things for the P2P marketplace.
  • NuMARK Credit Union deploys digital banking solutions powered by Digital Insight.

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.

Trizic Raises $3 Million in Seed Funding from Operative Capital

Trizic Raises $3 Million in Seed Funding from Operative Capital

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Less than a week away from its Finovate debut in San Jose, wealth-advisory technology innovator, Trizic has closed a $3 million seed funding round with Operative Capital.

Operative Capital initially invested $1 million in Trizic, and this week increased its investment by another $2 million. The funding will help the company roll out Trizic Accelerator, its digital wealth-advisory platform for broker-dealers and asset managers, as well as FIs and wealth-management firms.

Speaking for Operative Capital, founding partner Drew Sievers highlighted Trizic’s potential for disruption in the wealth-advisory digital space and the fact that, as a technology company, Trizic does not compete with its customers. Sievers is the former CEO and founder of mFoundry, (a Finovate alum).

“Well-known, direct-to-investor sites offering their solution to financial firms, asset managers, and RIAs have a direct conflict: Trizic isn’t a competitive threat to the wealth-management providers that are implementing Trizic Accelerator,” says Sievers.

Available as a white-label offering, Trizic Accelerator helps wealth-management professionals onboard and manage both new and existing clients, and automates up to 80% of back-office functions. Wealth managers can create model portfolios and execute trades. The platform’s algorithms ensure that processes are “tax-aware” and meet regulatory and fiduciary requirements. Clients can have different degrees of access to the platform on the front end based on their own technological and financial sophistication.

Founded in 2012, Trizic is headquartered in San Francisco, California. Brad Matthews is founder and CEO. See the company’s technology live on stage at FinovateSpring 2015 in San Jose.

Finovate Alumni News

On Finovate.com

Around the web

  • Wallaby Financial partners with NXT-ID to bring Wocket Smart Wallet to Wallaby customers.
  • Asseco SEE teams up with UniCredit CEE to launch its fully native new generation tablet banking solution in six Eastern European countries.
  • Nomis Solutions taps Michael DeGusta as vice president and chief architect.
  • Service Credit Union offers mobile banking services with Touch ID, courtesy of pilot program run by Digital Insight.
  • Financeit partners with eOriginal Inc., bringing eSignature technology to Financeit customers.
  • Studio Movie Grill launches digital gift cards powered by CashStar.
  • Banking Exchange column on real-time payments in the U.S. features FIS, Dwolla, and Ripple.
  • Zopa to help provide financing for Uber drivers looking to buy their cars, rather than rent them.
  • American Banker features LendKey. Check them out at FinovateSpring next week in San Jose.
  • American Banker reports that partnerships fuel Lending Club’s unexpectedly fast growth.
  • BizEquity launches new ‘Adviser Office’ service.
  • Pepperi partners with Xero to extend cloud accounting with mobile sales automation.

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.