Finovate Alumni News– August 28, 2013

  • FinovateLOGO.jpgAmerican Banker takes a look at NEXT, Yodlee’s incubation, acceleration, and cultivation program for fintech startups.
  • PreCash launches Evolve Money for paying bills online or on the go.
  • Invapay to deploy Kalixa’s Accept acquiring and payment gateway services.
  • Swipely launches new feature that allows users to review sales for any time period.
  • MoneyDesktop welcomes new VP to management team.
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.

FinovateFall 2013 Sneak Peek: Part 5

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We hope you’re enjoying our Sneak Peek at the presenters of FinovateFall 2013.

You can learn more about our upcoming event here. And if you’ve missed an installment of our series, here’s a handy index to this year’s innovators.

FinovateFall 2013 Sneak Peek #1

Today we’ll introduce you to our fifth set of companies that will be demoing on the Finovate stage in September: Capital Access NetworkFutureAdvisor, Instabank, miiCard, Narrative ScienceP2P Cash, and StrategyCorps.

So why not join us in New York for the show? Get your tickets to FinovateFall 2013 in New York here.


Capital Access Network’s Mobile Funder is a tablet-based tool enabling finance reps to seurely pre-qualify small businesses for capital and submit a full application in a single visit.

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Features:
  • Capital delivered in days, not weeks
  • Empowers reps with direct access to qualification tools
  • Pre-qualifies prospects for two products with one application
Why it’s great: This all-in-one tool gives small business finance reps the power to expedite decisions, close more deals, and deliver capital faster.

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Dan DeMeo, CEO, Capital Access Network
Mr. DeMeo joined in 2010 with an extensive financial services background (Citibank, GE Capital, JP Morgan) and a history of growing businesses profitably.
Meet the Capital Access Network team here.

FutureAdvisor’s FutureAdvisor Premium automatically manages your current investments.

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Features:
  • Manage investment holdings from multiple institutionsFeatures:
  • Rebalance your portfolio automatically
  • Recognize and invest new cash immediately
Why it’s great: Guide your investment portfolio – automatically
Meet the FutureAdvisor team here.

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Instabank set out to create the most beautiful, efficient, and social mobile bank.
Features:
  • Transfer/request money to/from Facebook friends
  • Add photos, comments, Foursquare venues to purchases
  • Rich activity stream and PFM
Why it’s great: Instabank aims to unlock viral customer acquisition via Facebook and become the Dropbox of retail banking.

miiCard (my Internet Identity) is the first global Identity-as-a-Service (IDaaS) platform providing trusted and traceable customer identities purely online in the digital economy.

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Features: 
  • Eliminate up to 80% fraud
  • Reduce new customer dropout by 50%
  • Dramatically reduce operational costs
Why it’s great: Enabling purely online sales of regulated and high value products in banking, virtual currencies, payments, wealth management, lending and more.

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James Varga, Founder, CEO, miiCard
Mr. Varga has more than a 20-year career in technology and innovation.

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Magnus Bray, Sales Manager, miiCard
Mr. Bray has experience in bringing new innovations to global financial institutions.
Meet Team miiCard here.

Narrative Science provides financial institutions with a fast, cost-effective way to analyze data and automatically generate natural language communications that answer important questions and provide timely insight.

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Features:
  • Infinitely scalable content generation
  • On-demand communications tailored to any audience
  • Consistent narratives structured to meet guidelines
Why it’s great: Quill Financial automatically transforms portfolio and market data into human-quality communications and reports for financial institutions.
Meet the Narrative Science leadership team here.

P2P Cash developed an industry-standard, scalable mobile financial services solution that provides secure, compliant and transparent mobile banking to the world’s 3 billion unbanked mobile phone users.

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Features:
  • Send cash home free
  • Mobile international remittance
  • Only SMS required for recipient
Why it’s great: Send cash home free #InternationalRemittance

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Thomas Meredith, Chairman and CEO, P2P Cash
Mr Meredith has Internet, financial services, and telecommunications experience. Stanford engineer. Harvard MBA.

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Donald Chapman, VP, Business Development, P2P Cash
Mr. Chapman has Consulting, IT, Sales & Marketing experience. Providence College. Babson MBA.
Meet the P2P Cash team here.

StrategyCorps’ BaZing solution makes mobile and online banking so appealing and relevant to customers’ lifestyles they’ll gladly pay a fee for them.

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Features:
  • 300,000+ deals at your fingertips
  • Local merchant offers around every branch
  • Connect like no banking product can
Why it’s great: Customers don’t like fees for basic banking products. BaZing changes that by making banking products worth paying for.

Stay tuned for more from our FinovateFall 2013 presenters in edition #6 of our Sneak Peek series, coming Thursday.
FinovateFall 2013 is only a few weeks away. To learn more about FinovateFall – and to register and get your tickets today – visit our FinovateFall 2013 page here.

PreCash Launches Evolve Money for Paying Bills Online or On the Go

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No bank account? No card?

No problem.

PreCash unveiled its online and mobile bill pay app, Evolve Money, today. The technology allows consumers to pay bills for free and even make low-cost ($1.50 per transaction) expedited payments without needing a bank account or a credit card.
In a way, Evolve Money acts as its own prepaid card. Says CEO Steve Taylor, “consumers can get a load pack or PIN at thousands of locations and then use their smartphone, tablet, or computer to make payments.” Retail locations include supermarkets such as Safeway and Albertsons, where load packs are available from $3.00 to $3.95 each. 
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The mobile app is ready to go for Android users, who can download Evolve Money for free from Google Play. Users of other operating systems can access the online service at the company website.
Evolve Money is a feature of PreCash’s PayConnect mobile and online bill pay platform (read our report on PayConnect here). PayConnect enables customers to pay bills at more than 10,000 utility, insurance, and cable service providers, and is available as both an API and a white-label application.
PreCash demoed Flip, a mobile check deposit solution, at FinovateFall 2012 in New York. Video of their presentation is available here.

Kony at #28, Five Other Finovate Alums Make Inc. 5000 for 2013

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Congratulations to six Finovate alums named to the Inc. 5000 list of America’s fastest growing companies.

The list included two Finovate alumni in the top 500: Kony Solutions (#28), and CashStar (#108). Prosper just missed the top 500, ranking #548. Also on the list were OnDeck (#660), Authentify (#2,328), and Capital Access Network (#4,535).

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Rank: #28
Description: Offers a codebase for developing mobile and multichannel applications

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3-year revenue growth: 79x (eg. 7,900%)
2012 revenue: $51.1 million
2009 revenue: $648,000
Employees: 1100
3-year employee growth: 1003
Founded: 2007
Additional honors: #2 Top 100 Software Companies, #4 Top 100 Florida Companies
Rank: #103
Description: Hosts and maintains a transaction platform for retailer-branded gift card programs
3-year revenue growth: 35x

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2012 revenue: $9.7 million
2009 revenue: $276,000
Employees: 96
3-year employee growth: 73
Founded: 2008
Additional honors: #6 Top 100 Software Companies, #3 Top 100 Maine Companies
Rank: #548
Description: Peer-to-peer lending marketplace
3-year revenue growth: 9.3x

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2012 revenue: $6.8 million
2009 revenue: $732,000
Employees: 84
3-year employee growth: 50
Founded: 2006
Additional honors: #36 Top 100 Financial Services Companies #97 Top 100 California Companies, #31 San Francisco Metro Area
Rank: #660
Description: Small business lender
3-year revenue growth: 8x

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2012 revenue: $36.7 million
2009 revenue: $4.6 million
Employees: 153
3-year employee growth: 117
Founded: 2007
Additional honors: #41 Top 100 Financial Services Companies, #40 Top 100 New York Companies, #5 New York City Metro Area
Rank: #2,328
Description: Delivers automated, multi-factor authentication services
3-year revenue growth: 2.6x

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2012 revenue: $14 million
2009 revenue: $5.5 million
Employees: 37
3-year employee growth: 13
Founded: 1999
Additional honors: #36 Top 100 Security Companies
Rank: #4,535
Description: Provides working capital and data services to small businesses
3-year revenue growth: 49%

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2012 revenue: $152 million
2009 revenue: $102 million
Employees: 425
3-year employee growth: 144
Founded: 1998

Major Global European Bank Spends $2 Million on Kofax Solutions

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An increased investment of $2.3 million by an unnamed “major global European bank” in smart capture specialist Kofax represents a deepened commitment to the technology company’s signature trio of products: Capture, Transformation Modules, and Mobile Capture.

Kofax focuses on “First Mile” customer interactions, developing software that makes it easier for financial institutions to process the more than 350 million forms, documents, and checks generated every year. The company’s solutions range from technology that provides scan-to-archive document scanning and digital image creation (Capture) to data extraction and validation capabilities (Transformation).

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We last reported on Kofax on June, as the company announced its Analytics for Capture technology.
Kofax has more than 20,000 customers in the fields of banking, insurance, and business process outsourcing. Founded in 1985 and headquartered in Irvine, California, the company’s services and products are available in more than 70 countries around the world.
Kofax demoed its technology as part of the FinovateSpring 2013 show in May, and will be among the companies presenting at FinovateFall 2013 in New York in September. Find out how to see Kofax in person here.

Moven Wins Investment from Life.SREDA and BillPay from Payveris

A strategic partnership announced by Moven will bring investment capital to the company’s mobile money management service, now in beta in the U.S.

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The amount of the investment was not disclosed. Nevertheless the capital comes courtesy of Russian venture capital firm, Life.SREDA, which specializes in mobile and online fintech initiatives around the world.

In addition to helping raise Moven’s profile in markets in Eastern Europe and Russia, the investment is slated to support early stage development in the company’s signature service.
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News of the company’s partnership with Life.SREDA comes just one day after Moven announced a deal with mobile payments company, Payveris. The agreement will bring bill pay and money transfer features to Moven’s money mangement platform.
New York-based Moven was founded in 2011, and has raised more than $2.5M in seed funding heading into this week’s announcement. The company was last on the Finovate stage as part of the Spring show in San Francisco earlier this year. See Moven’s demo here.

Taulia Raises $18 Million in Series C Round

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A specialist in providing cloud-based invoice, payment, and dynamic discounting solutions, Taulia announced today that it has raised $18 million from investors, including Klaus Hommels of Zurich-based Lakestar.

Also participating were Matrix Partners, Trinity Ventures, TELUS Ventures, and DAG Ventures.

The capital is designed to help further Taulia’s global expansion. Founded in 2009 and headquartered in San Francisco, Taulia has offices in North America and Europe and its solutions are currently deployed in more than 99 countries.

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Taulia’s technology helps purchasing companies become more efficient through automation and discount maximization. At the same time, suppliers benefit from less volatility when it comes to payment. Among the companies using Taulia’s e-invoicing, early payments, and financing options are Coca-Cola Bottling, Hallmark, and John Deere. Taulia CEO Bertram Meyer cited tripling demand over the past few months, saying the company is on pace to grow an additional 300% this year.
Taulia demoed its Early Payment Network technology as part of FinovateSpring 2012. See the company’s presentation here.

Finovate Alumni News– August 23, 2013

  • FinovateLOGO.jpgCommunityLend announces that the beta version of Financeit iOS app is now available for download. See them demo at FinovateFall in New York next month.
  • Moven forms strategic partnership with Russian venture capital fund Life.SREDA.
  • Keynote goes private as stockholders approve sale to Thoma Bravo.
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.

FinovateFall 2013 Sneak Peek: Part 4

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There’s no better way to get to know the companies that will be on stage at FinovateFall 2013 than our Sneak Peek series. If you’ve missed an edition or two, click on the links beow to read earlier installments of our preview.

This year, FinovateFall will take place on September 10 and 11, at the Manhattan Center in New York. Find out more about the event here.

Today’s installment introduces our fourth set of fintech presenters: Akimbo Financial, BizEquity, Motif Investing, Phony Invoices, RevolutionCredit,  SaaS Markets, Unleashand Zighra.

Want to join us in New York in September? Get your ticket to FinovateFall 2013 here.
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Akimbo Financial provides turnkey, white-label, prepaid card programs and develops custom web and mobile solutions for banks, credit unions, and other businesses.
Features:
  • Create sub-cards with any name
  • Link bank accounts and set up automatic allowances
  • Deliver money to a card with immediate access to funds
Why it’s great: Akimbo is reinventing allowance with a card that delivers money anytime, anywhere. It’s great for teens, students, staff, or anyone.

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Houston Frost, Co-Founder, CEO, Akimbo Financial
Mr. Frost previously worked at J.P. Morgan in fixed income strategy. He holds a PhD from Northwestern University.

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Thomas Turner, Co-Founder, Chairman, Akimbo Financial
Mr. Turner previously worked at Wachovia Securities in M&A and is currently the CEO of Turner Holdings, LLC.
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Biz Equity is the first and leading patented cloud-based online business valuation service. BizEquity is democratizing and putting online a $2.8 billion dollar industry.
Features:
  • Dynamic search of 15,000 industries
  • Real-time business valuation scoreboard
  • Online dashboard to monitor and manage your value with a 17-page report
Why it’s great: BizEquity’s patented service answers the most important question facing the business owner and their advisor online and in real-time.

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Michael M. Carter, CEO and Founder, BizEquity
Mr. Carter is MD of The Musser Group, and Managing Partner, Entrepreneurs Management Group
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Motif Investing is a new kind of online broker introducing the first-of-its-kind crowdsourcing of a financial product that uses Motif’s innovative social technology.
Features:
  • Build Your Own Motif – a collection of up to 30 securities trading real-time for only $9.95.
  • Feature it in Motif’s Community Catalog
Why it’s great: Stop Picking Stocks, Start Picking Ideas and build your own mofit of up to 30 stocks for $9.95

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Hardeep Walia, Co-Founder, CEO, Motif Investing
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Phony Invoices is launching “Phony Vendor Check” at FinovateFall 2013. It’s the fastest and most robust software toolkit available to root out invoice scams.
Features:
  • The most comprehensive database of invoice scams
  • Real-time access through secure website or customized API
  • Automatic updates
Why it’s great: Scammers make millions off of these
phony invoice scams every year. Protect your money. Stop invoice fraud.
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RevolutionCredit’s engagement platform and database of unique consumer behavioral economic data are a quantum shift in the credit decisioning process for both lenders and consumers.
Features:
  • Transforms credit decisioning
  • Helps creditors identify upwardly mobile customers
  • Offers just-in-time consumer financial capability development
Why it’s great: The launch of RevolutionCredit’s engagement platform will transform the credit decisioning process for creditors and consumers for good.

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Zaydoon Munir, Founder, CEO, RevolutionCredit
Mr, Munir is an 18-year veteran of the financial services industry.
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SaaS Markets designs and delivers app stores for the Software-as-a-Service (SaaS) market. Its MarketMaker platform allows companies to deploy a business app store for its customers or employees.
Features:
With a MarketMaker app store powered by SaaS Markets, you can:
  • Win new customers
  • Generate additional revenue and reduce churn
  • Gain new insights
Why it’s great: MarketMaker Enterprise is the enterprise app store for your employees or customers.

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Ferdi Roberts, CEO and Founder, SaaS Markets
Mr. Roberts is a former senior executive at Yahoo, Cisco, and Ariba, and was educated at Imperial College, London.
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Unleash is a cloud CFO that helps small business owners make better decisions faster.
Features: 
  • Eliminates hours spent analyzing data
  • Compares your business to the competition
  • Shows you what you’re doing well and what to fix
Why it’s great: Cloud CFO – Simplifying business intelligence and making it super easy to use.
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Zighra’s KineticID accelerates transactions by using human kinetics to make mobile authentication implicit, frictionless, and much more secure.
Features:
  • Accurate, effortless, and instantaneous multi-factor user recognition
  • Securely avoids vulnerable PINs/passwords and other biometrics
Why it’s great: KineticID provides FIs, mobile banking and payment platforms with increased customer convenience while reducing fraud cost and risk.

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Deepak Dutt, CEO, CTO, Zighra
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Learn more about the companies and entrepreneurs who will be presenting at FinovateFall 2013 in New York in our next Sneak Peek preview, coming on Tuesday.
Want to join us in New York this September? Get your ticket to FinovateFall 2013 here. And to learn more about the event, visit our FAQ here.

Finovate Alumni News– August 22, 2013

  • FinovateLOGO.jpgForbes Magazine names FIS one of the 100 most innovative companies in the world.
  • BusinessManager from ProfitStars is driving revenue growth and customer acquisition for Great Western Bank.
  • Arroweye Solutions launches data-driven card marketing with CustomerConnect.
  • Ameriana Bank to deploy Picture Pay from Allied Payment Network.
  • Mashable takes a look at PayPal’s face-verification system for mobile payments.
  • Yodlee, Moven, and Mint featured in Wired column on the “banks of tomorrow.”
  • Narrative Science co-hosts this week’s InnovationChat at built in Chicago. See them demo at FinovateFall in September.
  • Segmint CIO David Hadley writes about building a cybersecurity framework today in BAI Banking Strategies.
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.

Arroweye Solutions Launches Data-Driven Card Marketing with CustomerConnect

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New technology from Arroweye Solutions promises to make it easier to build personalized card marketing campaigns.

CustomerConnect, launched today, allows card issuers to leverage Arroweye’s digital, on-demand technology and the sizable amounts of customer information at their fingertips to put the right, tailored, marketing message in front of the right customer.

The goal is to increase customer acquisition and retention through customization and personalization. And the primary obstacle to this, according to Arroweye CEO Render Dahiya, is simple “know-how.” Said Dahiya, “most card issuers … don’t possess the right technology or partner to help them harness (their) information for the betterment of their card program.”
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“Now they can leverage the same customization tools to create hyper-targeted marketing campaigns that are proven to break through the clutter.”
Arroweye’s technology has been used to power a variety of programs in recent months. This includes providing the first, dual-purpose payment municipal/ID card for Praxell, a prepaid card program manager, earlier this year.
Arroweye was founded in 2000, is headquartered in Chicago, and secured $3 million in Series B funding a little over a year ago (see our report here). Offering the first fully digital card solution approved by major card issuers such as Visa, MasterCard, American Express, and Discover, Arroweye Solutions demoed their technology at FinovateSpring 2011. See the company’s presentation here.

Finovate Alumni News– August 21, 2013

  • FinovateLOGO.jpgWhat Themes Will Heat Up the FinovateFall Stage?
  • Cardlytics announces patent on offer placement and management systems.
  • MasterPass gains traction as 16 payment service providers in Australia agree to provide MasterCard’s digital payment option for business customers.
  • Arroweye Solutions launches CustomerConnect, a data-driven, card marketing technology solution.
  • Jonathan Lee of Phony Invoices talks about invoice fraud at Accounting Today. See them demo at FinovateFall in September.
  • SecureKey Technologies wins contract with USPS to develop Federal Cloud Credential Exchange (FCCX).
  • Fiserv renews technology relationship with Community First Credit Union in Wisconsin.
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.