Author: David Penn

Motif Investing Unveils its Advisor Platform to Streamline Portfolio Building, Monitoring, and Rebalancing

By David Penn Posted on
Categories: FinovateSpring 2014, Motif Investing

Thumbnail image for motiflogo.jpgThis post is part of our live coverage of FinovateSpring 2014.

Making their way to the stage is Motif Investing, demoing their Motif Advisor Platform for financial advisors.
“Motif Investing is debuting a new, groundbreaking platform for investment advisors that will transform the way they conduct business and interact with clients. The Motif Advisor Platform dramatically streamlines how advisors build, monitor, and rebalance model portfolios around various asset classes so they can provide the highest level of service to clients. They will also have the ability to share market insights and portfolio updates with their clients through user-friendly social technology.”

Presenting: Hardeep Walia (CEO & Co-Founder) and Ramak Fazeli (Manager, Advisor Svcs & Sales)

Product Launch: Beta launch date February 3, 2014
Metrics: Motif Investing has raised $51 million to date and has 52 FTEs.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through other fintech companies and platforms
HQ: San Mateo, California
Founded: June 2010
Twitter: @MotifInvesting

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EyeVerify Brings Eye Vein Biometrics to the Mobile Consumer Market

EyeVerify Brings Eye Vein Biometrics to the Mobile Consumer Market
By David Penn Posted on
Categories: EyeVerify, FinovateSpring 2014
EyeVerify_hi_res_FS2014

This post is part of our live coverage of FinvoateSpring 2014.

Our next presenter is biometric authentication specialist, EyeVerify.

“EyeVerify is the exclusive provider of Eyeprint Verification, a highly accurate and secure biometric for mobile devices. Eyeprint Verification delivers a password-free mobile experience and secure authentication at a glance. This patented solution uses existing cameras on smartphones to image and pattern match the blood vessels in the whites of the eye.”
Presenting: Toby Rush (CEO & Founder) and Chris Barnett (EVP Global Sales & Marketing)

Product Launch: June 2014
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Kansas City, Kansas
Founded: January 2012
Website: eyeverify.com
Twitter: @eyeverify

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Finovate Alumni News– April 29, 2014

By David Penn Posted on
Categories: ACI Worldwide, Financial Guard, Fiserv
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinovateSpring 2014 starts today! Be sure to follow our Live Blog here at Finovate.com, as well as our Live Twitter feed #Finovate.
  • Financial Guard introduces enhanced fee transparency tool.
  • ACI Worldwide to offer its ACI UP Token Manager as Saas for debit issuers.
  • US Bancorp is the first large bank to provide Fiserv’s Popmoney Instant Payments. See Fiserv demo at FinovateSpring.
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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Fraud Prevention Specialist Signifyd Raises $2 Million in Seed Funding

By David Penn Posted on
Categories: Signifyd

Thumbnail image for SignifydLogo.jpg

Led by Resolute VC, and with participation from Andreessen Horowitz, Data Collective, IA Ventures, QED Investors, Tekton Ventures and other angel investors, Signifyd has raised $2 million in seed financing.

“E-commerce companies can’t waste time and resources cobbling together internal fraud solutions,” said Resolute VC’s Mike Hirshland. “The need for a comprehensive fraud prevention platform is apparent.”

And not just comprehensive fraud prevention, but standalone, as well. One of the distinguishing features of Signifyd is technology that is designed as a holistic solution of merchants who would rather not try and build, or even integrate, a security system on their own.
“(They) have to become an expert on device fingerprinting, IP geo-location, NAP Checks, BIN lookups, social spoofing …” said Signifyd CEO and co-founder Raj Ramanand. “With Signifyd, you get a one-stop solution, from automated scoring to manual review.”
Signifyd is in beta and that beta program continues to be a busy one. According to the company, Signifyd has helped improve manual transaction review times by 60%, and improved catch rates by 20%. Better chargeback detection and fewer declines have also been reported.
The new capital will help Signifyd grow its team of engineers and speed product development.
Signifyd is based in Palo Alto, California, and was founded in 2011. The company demoed its technology as part of the FinovateSpring 2013 show in San Francisco. See a video of Signifyd in action here.

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FinovateSpring 2014 Starts Tuesday: Are You Ready?

FinovateSpring 2014 Starts Tuesday: Are You Ready?
By David Penn Posted on
Categories: FinovateSpring 2014
CityNationalCivicbldg2

The Finovate crew has landed. And a whole van full of padfolios, multi-colored lanyards, tabletop-sized signage, and Best of Show trophies have been unloaded at the City National Civic facility that will host this year’s FinovateSpring 2014.

And here’s some more good news: if you haven’t secured your ticket to FinovateSpring yet, there’s still time left. Click here to buy your tickets and save your spot before the show is sold out.

With that in mind, here are a few reminders, tips, and need-to-knows before the show gets started bright and early Tuesday morning.
Schedule
Registration for FinovateSpring 2014 begins at 8am Tuesday morning, April 29. The first demo will began at 9am sharp, and the live demos continue all day long until 4pm. We begin again Wednesday morning at 9am, with another day full of live demos, again ending at 4pm.
And be sure to stick around during the networking session afterward. We will be announcing winners of our Best of Show competition Wednesday evening at approximately 5pm.
Venue
Our venue in San Jose is the City National Civic building, just down the road from the San Jose State University campus, and across from the convention center. 
It’s a great facility with a lot of style and character. It also has an impressive history of hosting stars from the Rolling Stones and Jefferson Airplane to Los Lobos and Elvis Costello.
You can find the City National Civic building at:
135 West San Carlos Street
San Jose, California 95113
Presenters
We’ve got 68 companies scheduled to demo over the two days of FinovateSpring 2014, with a healthy mix of newcomers and Finovate veterans. You can learn more about our presenters on our Presenters Page. 
The App!
And last but not least, don’t forget the app! We are again doing everything we can to make it easier for you to get to know and connect with our presenting companies. So this year we are partnering with Bizzabo to help you take your networking to the next level.
All you have to do is download the free Bizzabo app from the Apple App store or from Google Play store (search for “Bizzabo”). Once you’ve downloaded Bizzabo, type “Finovate” into the search bar, sign in, and click the green “Join the Community” to get started.  More info on how to make the most of Bizzabo is here.
We couldn’t be more excited about this year’s show and can’t wait to get started. If you have any questions, check out our FinovateSpring 2014 FAQ. Or send us an email at info@finovate.com. In the meanwhile, we’re looking forward to seeing you in San Jose!

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New Jersey Natural Gas Customers Can Now Pay via Check Mobile App

By David Penn Posted on
Categories: Check

Thumbnail image for Check_Logo_new_large.jpg

I don’t know if natural gas truly is the bridge between our dirty fuel past and a green energy future. But I’m increasingly convinced that mobile payments companies like Check are the bridge between our dirty cash past and a future free of paper payments.

Check announced today that it has signed yet another agreement with a major utility company to allow customers to pay their bills via the company’s mobile app. Kathleen Kerr, VP for customer service at New Jersey Natural Gas, said, “many of (our customers) already use Check’s app … So it is a natural next step for us to learn with Check.”

Check’s interest in utility companies and their customers is not new. Back in October the company surveyed more than 50 utility companies as part of what now is clearly an effort to target the industry as a potential customer base. Check currently has relationships with utility companies such as Desert Water Agency, Irvine Ranch Water District, and Alltel.
The Check app is available on both iOS and Android. Check was launched in 2008 and is headquartered in Palo Alto, California. The company’s mobile app is used by more than 10 million bill payers around the country.

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Finovate Alumni News– April 25, 2014

By David Penn Posted on
Categories: Check, InComm, Ondot, The Currency Cloud, Yodlee
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgYodlee deepens ties to developer community, announces partnerships with Startupbootcamp, 25fifteen, and Entrepreneurial Spark.
  • PYMNTS.com features OnDot Systems’ “remote control credit card” technology. See them demo at FinovateSpring in San Jose.
  • New Jersey Natural Gas customers can now pay via Check mobile app.
  • Pymnts interviews The Currency Cloud CEO Michael Lavin.
  • InComm and Marketing Werks launch AFINITI Marketing Platform.
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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FinovateSpring 2014: The Way to San Jose

FinovateSpring 2014: The Way to San Jose
By David Penn Posted on
Categories: FinovateSpring 2014

Thumbnail image for FinovateSpringButtonLogo.jpg

“Fame and fortune is a magnet / It can pull you far away from home”

–“Do You Know the Way to San Jose?“

How many miles from home have this year’s FinovateSpring presenters traveled in order to take the stage next week in San Jose? It is true that a third of the companies that will be demoing hail from the Bay Area or parts nearby in Northern California. It is also true that FinovateSpring 2014 will host innovators from as far away as Germany and the United Kingdom, Singapore and the Ukraine.
Take a look for yourself (click to enlarge).
FS2014_Presenter_Map_v3
And with ticket registrations climbing above 1,200 this week, plan on finding plenty of professional, like-minded company during the two days of live demos, C-level networking, and the latest in fintech innovation.
Here is a full list of the companies that will be demoing at FinovateSpring 2014 in San Jose on April 29 and 30.
  • Artivest
  • Avoka
  • BodeTree
  • ChiaraMail
  • Coinbase
  • CREALOGIX
  • CUneXus
  • D3 Banking
  • Dealstruck
  • defi SOLUTIONS
  • Digital Insight
  • Digital Retail Apps
  • Encap Security
  • Endeavour
  • EyeVerify
  • FinBuddy
  • Fiserv
  • FlexScore
  • ID.me
  • Insuritas
  • IntelliResponse
  • Interactions
  • Jumio
  • Kofax
  • Kown
  • Kreditech
  • LendingRobot
  • LendingTree
  • LendUp
  • Loop
  • LOYAL3
  • Market Prophit
  • Motif Investing
  • MShift
  • Nearex
  • NICE Systems
  • OnBudget
  • Ondot Systems
  • Pellucid Analytics
  • Personal Capital
  • Pixeliris
  • Privatbank
  • Qapital
  • Quisk
  • Radius
  • RealtyMogul
  • Red Giant
  • Rippleshot
  • Roostify
  • SaveUp
  • SmartAsset
  • Spreedly
  • Stockpile
  • StrategyCorps
  • Sureify
  • Tactile Finance
  • TD Ameritrade & LikeFolio
  • TextPower
  • True Link
  • Venovate
  • Verde International
  • Visible Equity
  • Vorstack
  • WePay
  • Wipit
  • Yseop
  • ZenPayroll
  • Zumigo
In order to make sure you know everything you need to know about FinovateSpring 2014, here’s a quick reminder on the what’s, where’s, and how’s of getting to and making the most of this year’s event in San Jose.
Schedule:
Registration for FinovateSpring 2014 begins at 8am on Tuesday, April 29. The demos will start at 9am Tuesday and Wednesday mornings, with the final demo on both days ending at 3:30pm.
Venue:
Moving to San Jose for this year’s FinovateSpring, the event will be held at the City National Civic building. The street address is below:
135 West San Carlos Street
San Jose, California 95113
Presenters:
For two days, 68 fintech innovators will demo their technologies before an audience of industry professionals from around the world. Learn more about our presenters at our Presenter’s page, or through our Sneak Peek series below.
If you have any questions about FinovateSpring, here’s a great place to go for answers. And you can always email us for more information at info@finovate.com.
Most importantly, there’s still time to get your ticket and save your spot. And if you already have your tickets in hand, thanks for joining us! See you in San Jose!

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Ondot Systems Raises $18 Million Ahead of FinovateSpring Debut

Ondot Systems Raises $18 Million Ahead of FinovateSpring Debut
By David Penn Posted on
Categories: Ondot
Ondot_hi_res_FS2014

With less than a week to go before FinovateSpring, it’s pretty hard to hide our excitement for Ondot Systems. The Finovate newcomer will be arriving at the show $18 million in funding richer courtesy of an investment from a set of undisclosed contributors.

Ondot Systems’ technology is called CardControl. CardControl allows consumers to have instantaneous control over their credit, debit and other payment cards via their smartphones.

The applications for the technology are clear: from parents setting limits on a son or daughter’s credit card, to an individual being able to quickly “freeze” a lost or stolen card. The range of control options includes the ability to turn cards on or off, to provide location-based parameters on where the cards can be used, as well as to limit purchases by type and/or amount.
Said the company in a statement: ” We think giving consumers tools to control, monitor, and manage card usage is a cost-effective way to protect cardholders and enhance the value of existing debit, credit, and prepaid cards.”
Ondot has been in stealth for years, developing the sophisticated technology to enable this card-controling smartphone functionality. Now in the public eye, we learn that the company has partnerships with four of the top payment processors, and that its technology reaches 10,000 banks and credit unions around the U.S.
To this last point, Ondot is already claiming significant success in helping FIs reduce fraud costs. They cite Long Star National Bank as one client that has seen declines in fraud losses of 40%. Bank COO David Penoli added that card usage has also increased, which he called “the most cost-effective way to increase debit card margins.”
Founded in 2011, Ondot Systems will demo CardControl at FinovateS[pring in San Jose next week. There’s still time to get your tickets, so visit our registration page today to save your spot. 

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Finovate Alumni News– April 23, 2014

By David Penn Posted on
Categories: Billhighway, FIS, Fiserv, Linkable Networks, Nous.net, ReadyForZero, TSYS, Xero
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNous launches two-month pilot program with Hong Kong hedge fund. Launched at FinovateEurope in February, Nous’ Spark Profit has 25,000 registered users in 194 countries.
  • Heritage Bank of Nevada to deploy Fiserv’s deposit reclassification solution, ReserveLink.
  • AmeriServ signs real-time account processing agreement with FIS to deploy TrustDesk.
  • TSYS to discontinue operations in Japan after almost 14 years.
  • Billhighway & RallyBound partner to make multi-channel fundraising a reality for nonprofits.
  • Zendesk customer service software partners with Xero.
  • PerformanceIn interviews Linkable Networks CEO, Tom Burgess.
  • Insuritas working with Overstock.com to launch its virtual insurance agency solution. Come see Insuritas at FinovateSpring next week.
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– April 22, 2014

By David Penn Posted on
Categories: ACI Worldwide, Kantox, Kapitall, MoneyDesktop, Taulia
  • ACI Worldwide joins electronic payments standards organization, EPASOrg, as a principal member.
  • Taulia named to 2014 Best Places to Work in the Bay Area List.
  • Silicon Slopes features MoneyDesktop’s recruiting efforts.
  • Kapitall launches Klub Kapitall loyalty program with reduced live trading commissions.
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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Lending Club Raises $115 Million in Debt and Equity; Acquires Springstone Financial

By David Penn Posted on
Categories: Lending Club

Thumbnail image for Thumbnail image for Thumbnail image for LendingClubLogo.jpg

News that Lending Club has raised $115 million in debt and equity is a reminder that alternative lenders continue to be a magnet for venture capital.

The equity stake totals $65 million, and comes courtesy of BlackRock, Sands Capital, T. Rowe Price Associates, and Wellington Management Company. This boosts the company’s total capital raised to more than $280 million.

Lending Club also announced that it was acquiring Springstone Financial in a cash and stock deal worth $140 million. Springstone specializes in providing financing for medical patients and for medical professionals looking to fund their continuing education.

Moving into medical financing is apparently part of Lending Club’s overall strategy for growth. Last month, the company announced that it was moving into small business lending, challenging incumbents like Kabbage, CAN Capital, and OnDeck. The company has also begun selling loans to community banks, announcing agreements with seven small banks last December.
Lending Club has doubled its annual loan volume every year, and has paid more than $300 million in interest to its investors. The company reported surpassing the $3 billion loans originated mark at the end of 2013.
In the top five of Forbes’ “Most Promising Companies” roster for 2014, long-time Finovate alum (StartUp 2007) Lending Club was founded in 2006 and is based in San Francisco. Renaud Laplanche is CEO.

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