Author: David Penn

Online Payments Startup Spreedly Introduces its Credit Card Vault in the Cloud

By David Penn Posted on
Categories: FinovateFall 2013, Spreedly

Spreedlylogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Spreedly is our next presenter. They are making their way to the stage right now to debut their “credit card vault in the cloud.”
“In the world of online payments much is made of the fees that are charged by payment gateway providers. Very little is known about the relative performance of payment gateways. Lost transactions based on time outs/false declines/overly aggressive fraud filters can cripple a business. Spreedly sits at a unique juncture where we can share what we see across a range of gateways.”
Product Launch: September 2013
Metrics: Raised $420,000 in seed funding, 5 employees, 100 paying customers, & 30% month over month transaction growth
Product distribution strategy: Direct to Business (B2B)
HQ: Durham, North Carolina
Founded: January 2008
Website: spreedly.com
Twitter: @spreedly
Presenting Justin Benson (CEO)

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The full demo video will be available at Finovate.com in mid-September.

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Socure’s Social Biometrics Provides Real-Time Protection Against Fraudsters and Bots

By David Penn Posted on
Categories: FinovateFall 2013, Socure

Thumbnail image for Socurelogo.jpgOur next presenter is Socure. The company specializes in real-time, online identity verification solutions.

“Socure’s Social Biometrics utilizes a patent pending artificial intelligence system and proprietary machine learning algorithms along with social behavior pattern analysis to detect if an online ID is authentic, a fraudster or a bot. 
Socure’s Social Biometrics solution showcases its ability to capture non-authentic (fake) online identities as a way to guard against identity theft and account takeover fraud. Our demonstration also shows the ability to de-risk each side of a peer-to-peer payment.”
Product Launch: August 2013
Metrics: $1.6M raised & 12 employees
Product distribution strategy: Socure is partnering with industry leading MSPs, social sign-on providers, and traditional identity databases to leverage their existing distribution channels. Socure is also selling into businesses directly with an internal sales team.
HQ: New York City, New York
Founded: August 2012
Website: socure.com
Presenting Sunil Madhu (CEO) and Johnny Ayers (Director, Business Development)

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The full demo video will be available at Finovate.com in mid-September.

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mBank and Accenture Present Their Redesigned, Bank 3.0 Online Platform

By David Penn Posted on
Categories: FinovateFall 2013, mBank & Accenture

mBankAccenturelogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Next to the stage is a demo from mBank and Accenture, working together to present their next generation, online banking platform.
“mBank is the first established European bank to undergo a comprehensive, mass-scale, ‘Bank 3.0’ revolution of its direct channels by introducing re-designed Internet and mobile banking fully leveraging modern technologies to deliver state of the art, end-to-end, customer experience and unparalleled sales effectiveness for the bank. New online banking platform includes modern UI/UX, PFM, video banking, real-time marketing, social channels, and gamification.”
Product Launched: June 2013
Metrics: (mBank) ~6,000 FTEs & 4.1M customers in Poland, Czech Republic & Slovakia; (Accenture) 266,000 FTEs operating in 120+ countries, net revenues of $27.9B USD
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: Lodz, Poland (mBank) & Warsaw, Poland (Accenture)
Founded: November 2000 (mBank) & 1950 (Accenture)
Twitter: @mBankpl & @Accenture
Presenting Michal Panowicz (Managing Director, New mBank Project) and Maciej Jopyk (Senior Manager, Accenture)
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The full demo video will be available at Finovate.com in mid-September.

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Toopher Launches its Business-Boosting Authentication Suite for FIs

By David Penn Posted on
Categories: FinovateFall 2013, Toopher

This post is part of our live coverage of FinovateFall 2013.

Coming to the stage now are representatives from our next presenter, Toopher.

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“Toopher’s authentication suite accelerate business top-line and bottom-line growth by creating greater user confidence and productivity. Toopher enables business to tap into new markets and to seize competitive differentiation within existing markets. 
Toopher uses the location awareness of user’s mobile device to create invisible, strong, out-of-band, two-factor authentication. 
As such, Toopher applies the same technology, infrastructure, and IP to optimize and secure the payment authorization process. As a result, Toopher can be paired with credit/debit accounts and mobile payments to reduce fraud, while simultaneously increasing UX.”
Product Launch: September 2013
Metrics: 17 employees
Product distribution strategy: Direct to Business (B2B), Channel Partnerships, and Licensing
HQ: Austin, Texas
Founded: September 2011
Website: Toopher.com
Twitter: @toopher
Presenting Josh Alexander (CEO) and Evan Grim (CTO)

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The full demo video will be available at Finovate.com in mid-September.

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Think Finance Presents Elastic: Line of Credit, Payroll-Linked Lending

By David Penn Posted on
Categories: FinovateFall 2013, Think Finance

Thumbnail image for ThinkFinancehighreslogo.jpgThis post is part of our live coverage of FinovateFall 2013.


Think Finance is about to present their technology next.
“Elastic is new a line of credit product for employees that is linked to payroll systems. The software-driven solution seamlessly integrates with payroll software platforms, reducing the cost and risk of providing cash advances. 
The savings are passed on to employees in the form of lower costs as compared to overdraft fees and alternative emergency cash products. Once an employer signs up, the employee manages the rest of the process online. Elastic provides flexible and affordable payment options and loans can be repaid via direct deposit using the payroll system.”
Product Launch: September 2013
Metrics: Money raised to date, $60M; number of employees, 564; revenues, $500M in 2012; customers served, 1.5M; credit issued $3.5B; consumer savings, $1B
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), & through financial institutions
HQ: Fort Worth, Texas
Founded: August 2011
Twitter: @thinkfinance
Presenting Ken Rees (President & CEO), Kathy Boden Holland (EVP, Corporate Development), and Elio Mariani (Product Director)
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The full demo video will be available in mid-September.

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Market IQ Terminal Provides Market Sentiment, Fundamental Insights, and Actionable Signals for RIAs

By David Penn Posted on
Categories: FinovateFall 2013, Market IQ

marketiqlogo.jpgThis post is part of our live coverage of FinovateFall 2013.

MarketIQ is our next presenter. The company will be debuting their Market IQ Terminal for portfolio managers, analysts, and investment firms.
“Market IQ Terminal provides:
  • Real-time sentiment and actionable fundamental insights based on Market IQ’s patented algorithms to provide deeper insights into a company’s strengths and weaknesses.
  • Better discoverability with Market IQ Search and natural language processing algorithms (applied to over 40 sources of unstructured data), allowing managers to ingest relevant insights from more sources at a glance, making ‘big data’ actionable.
  • Developed in collaboration with top investment management firms and market participants, Market IQ is modeled after broad portfolio management principles.
The intuitive and customizable workflow is designed to allow subscribers to tailor Market IQ to their investment process.”
Product Launch: September 2013
Metrics: $700,000 in revenues; 9,000 registered users, & 14 employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed.
HQ: Seattle, Washington & Toronto, Ontario, Canada
Founded: 2011
Twitter: @themarketiq
Presenting Fahad Kamir (Founder) and David Middleton (COO)

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The full demo video will be available at Finovate.com in mid-September

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Finect is Compliant Social Media for Financial Institutions Made Simple

By David Penn Posted on
Categories: Finect, FinovateFall 2013

finectlogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Our next presenter is the team from Finect. The company’s solution provides for an easy-to-use compliant social media with a pair of new features:
“Global Library – The financial industry’s broadest, smartest, and yet simplest library provides for the first truly open exchange of content without boundaries. This library will help advisors, asset managers and others:
  • Share, upload, and access content for client meetings, education, investment updates, and more
  • Share content with clients and prospects in their own groups or ‘rooms’
  • Follow and get instant library editions without worry
Pros on Products – Investment products can now be followed on Finect, with a single location for reviewing peer opinions, real-time news, and Twitter comments.”

Product Launch: September 2013

Product distribution strategy: Direct to Business (B2B), & through financial institutions
HQ: New York City, New York
Founded: 2012
Website: finect.com
Twitter: @finectcom
Presenting Nicolas Oriol (CEO & Founder) and Jennifer Openshaw (President)

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The full demo video will be available in mid-September.

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PayWith Presents mCARDS: A Dynamic Virtual Credit Card

By David Penn Posted on
Categories: FinovateFall 2013, PayWith

paywithlogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Wrapping this up with the final presentation of Day One of FinovateFall is PayWith, demonstrating their Mobile Rewards Cards.
“Introducing mCARDS (Mobile Rewards Cards). What does the “m” stand for? Money, Mobile, Merchant, Marketer, MasterCard, Monetize. 
In fact, mCARDS incorporate all of the above into every single 1-time use mobile card. mCARDS were invented by PayWith to enable a ubiquitous solution for merchants to process mobile payments using their existing hardware and POS equipment. The PayWith team cam up with the idea of creating a “virtual credit card” that could be dynamically created for every transaction by the consumer.”
Product Launch: Beta launched January 2012
Metrics: $2.5M raised to date, 12FT & 2 PT employees, closed beta of 2,000 registered users & 50 participating merchants, average consumer transaction value: $17.47, & average consumer annual spending through PayWith: $437.00
Product distribution strategy: Direct to Consumer (B2C), Direct to Business *B2B), through other fintech companies and platforms, & licensed.
HQ: Vancouver, British Columbia, Canada
Founded: November 2011
Website: paywith.com
Presenting David Strebinger (CEO) and Aaron Park (Senior Developer)

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The full demo video will be available at Finovate.com in mid-September.

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Float Money Offers Interest-Free, Fee-Free Lines of Credit for Shoppers

By David Penn Posted on
Categories: FinovateFall 2013, Float Money

FloatMoneyLogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Next up is Float Money, with their innovative online lending and marketing platform, Float.

“Float offers a line of credit without interest or fees. The loans can be used for any purpose. Members earn the interest-free line by shopping through Float. Float earns marketing revenue from merchants instead of interest and fees from borrowers.”

Product Launch: June 2012
Metrics: $1 million raised; 1,500 registered users
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, &through other fintech companies and platforms.
HQ: New York, NY
Founded: August 2011
Website: floatmoney.com
Twitter: @floatmoney
Presenting Shane Hadden (CEO) and Chad Hurley (CTO)

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The full demo video will be available at Finovate.com in mid-September.

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RevolutionCredit Launches Platform to Improve the Consumer Credit Process

By David Penn Posted on
Categories: FinovateFall 2013, RevolutionCredit

revolutioncredit_logo_rgb.jpgThis post is part of our live coverage of FinovateFall 2013.

RevolutionCredit is here to show of their RevolutionCredit Platform to help spot ideal borrowers.
“RevolutionCredit’s patent pending financial capability development solution helps creditors identify upwardly mobile customers, approve more consumers, mitigate risk, build brand loyalty, and reduce churn. For consumers, RevolutionCredit offers a compelling and progressive alternative to a rejection or penalty. Consumers can now demonstrate to their creditor that they are better than their current score, and are committed to their financial future. 
RevolutionCredit combines self/positive-selection with just-in-time consumer financial capability development at the point of transaction. This transforms the consumer credit process from a system based on punitive and negative selection to one based on education and positive engagement.”

Product Launch: September 2013

Metrics: $1.8M raised in angel funding & 8 employees
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, & through other fintech companies and platforms
HQ: Irvine, California
Founded: April 2012
Presenting Zaydoon Munir (Founder & CEO) and Laura Conrad (COO & CFO)

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The full demo video will be available at Finovate.com in mid-September.

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Ignite Sales Debuts Branch Profitability Dashboards to Help Maximize Sales Performance

By David Penn Posted on
Categories: FinovateFall 2013, Ignite Sales

Thumbnail image for IgniteSalesLogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Ignite Sales is next up to the stage. The Dallas-based company is launching their recommendations engine that matches banking products to customer eligibility in real-time at the point-of-sale.

“Ignite’s innovative Branch Profitability Dashboards offer a breakthrough in branch performance measurement. The visual dashboards give bank executives unprecedented information to manage the sales process and determine which branches are profitable.”
Product Launch: September 2013
Product distribution strategy: Through financial institutions & licensed
HQ: Dallas, Texas
Founded: September 1997. Launched 2010
Twitter: @Ignitesales
Presenting Mitchell Orlowsky (CEO) and Barbie Boe (VP Marketing & Founder)
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The full demo video will be available at Finovate.com in mid-September.

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Tinkoff Credit Systems Brings its Click-To-Meet Technology to the U.S.

By David Penn Posted on
Categories: FinovateFall 2013, Tinkoff Credit Systems

Tinkofflogo.jpgThis post is part of our live coverage of FinovateFall 2013.

All the way from Moscow, here’s Russia’s leading provider of online financial services, Tinkoff Credit Systems, with their Click-To-Meet technology.
“The customer can apply online or by phone for a credit card, debit card, or to make a deposit. She simply has to complete the application on the bank’s website and the next day the bank’s representative (‘smart courier’) will meet her at her place of choice to sign documents and to deliver the card.
This facility is mind-bogglingly good. The implementation of this innovation took the following steps:
      • We established a nationwide courier system specifically for our online deposit programme
      • We extended the courier delivery programme to credit cards
      • As we honed the service, we developed our own technologies and software
      • TCS now operates one of the biggest courier companies in Russia.”
Product Launch: May 2013
Metrics: 5,900 employees, $2.3B in assets, & over 3 million credit cards issued
Product distribution strategy: Direct to Consumer (B2C)
HQ: Moscow, Russia
Founded: December 2006
Twitter: @tcsbank
Presenting Oliver Hughes (President & CEO) and Anna Mikhina (Manager, Development of Mobile Products)
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The full demo video will be available at Finovate.com in mid-September.

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