Author: David Penn

Finovate Alumni News– May 21, 2013

By David Penn Posted on
Categories: BillGuard, Birdback, Braintree, eToro, Figlo, Holvi, Jack Henry, Keynote DeviceAnywhere, SigFig, Tradeshift, Tyfone, Virtual Piggy, VoiceTrust, Wipit
  • FinovateLOGO.jpgBirdback teams up with Braintree for 3-day payments hackathon.
  • Indiana Members CU chooses Jack Henry & Associates’ Symitar for in-house core processing.
  • Keynote DeviceAnywhere adds mobile scripting, UI enhancements.
  • VoiceTrust moves operational headquarters to Canada, opening offices in Toronto and Montreal.
  • Figlo expands partnership with Yellowtail Consulting to enable stronger focus on South Africa.
  • Wipit partners with Sprint/ Boost Mobile to bring mobile payment capability to cash-preferred consumers.
  • Virtual Piggy signs first UK partners, Toy Galaxy and Toadstool.
  • eToro granted UK financial regulation approval from the Financial Conduct Authority (FCA).
  • Tyfone releases Connected Smart Card solution to allow FIs to enhance user ID info used to access sensitive data.
  • Tradeshift partners with Invoiceware International to deliver compliant e-invoice validation in Latin America.
  • BillGuard to integrate with Google Wallet for transaction monitoring.
  • SigFig Portfolio adds support for Windows Phone.
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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EyeVerify Earns $2.3 Million in Series A Funding

By David Penn Posted on
Categories: EyeVerify

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The latest investment in the biometric-identity innovator brings the company’s total funding to $3.7 million. Participating in this latest round were Think Big Partners, Mid-American Angels, Nebraska Angels, and other individual, angel investors.

EyeVerify plans to use the additional funding to add sales and marketing talent, as well as invest in research and development. Founded in January 2012, the company is based in Kansas City, Kansas, and has eleven employees.

The technology uses the unique vein patterns in the whites of the eyes to create an “eye print” with fingerprint-level accuracy, according to the company. Eyeprints can be taken with a smartphone camera rather than requiring specialized hardware.
EyeVerify demoed their Eyeprint technology as part of the show at FinovateSpring in San Francisco this month. You can read our live coverage of their presentation here.

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OpenCoin Wins Investment from Google Ventures, IDG Capital Partners

By David Penn Posted on
Categories: OpenCoin

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For the second time in as many months, open source payment network innovator, OpenCoin is closing another round of funding. This time the company has earned investment from Google Ventures and China-based IDG Capital Partners.

The total amount of the angel funding round has not been disclosed, though Google Ventures is rumored to have contributed less than $200,000.

The announcement comes one month after the company reported funding from a quintet of investors: Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures, and Bitcoin Opportunity Fund. OpenCoin’s technology, Ripple, is a decentralized, virtual currency convertible into dollars, euros, yen, or Bitcoin.
OpenCoin’s CEO is Chris Larsen. The company presented its Ripple technology as part of FinovateSpring this month in San Francisco. Read our live coverage of their demo here.

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Finovate Alumni News– May 20, 2013

By David Penn Posted on
Categories: Allied Payment Network, BBC Easy, CommunityLend, Lendio, OneID, Palo Alto Software, Quantopian
  • FinovateLOGO.jpgQuantopian featured in the print edition of Barron’s Electronic Investor column.
  • Software company Malauzai, technology partner with Allied Payment Networks, talks mobile photo bill pay adoption rates.
  • CardNotPresent takes a look at OneID’s two-factor authentication technology.
  • Palo Alto Software collaborates with MasterCard to provide lean planning and management software solutions to small businesses.
  • Lendio interviews BBC Easy founders in a podcast on its blog.
  • CommunityLend’s FinanceIt launches paperless document function.
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– May 17, 2013

By David Penn Posted on
Categories: CashStar, FamZoo, FlexScore, LendUp, Realty Mogul, Serverside Group, Zooz

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  • Serverside Group grants license for its US card customization patents to financial services provider, DimpleDough.
  • CashStar announces year-over-year growth in Mother’s Day eGifting cards sold.
  • MobilePaymentsToday takes a look at Zooz In-Ad Payments service.
  • FlexScore provides waiting list for access codes to beta version of their web-based financial advisor platform.
  • American Banker features crowdfunders LendUp and Realty Mogul.
  • TransCard congratulates technology partner FamZoo on winning FinovateSpring 2013 honors.

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– May 16, 2013

By David Penn Posted on
Categories: Blaze Mobile, FamZoo, LendUp, MoneyDesktop, OpenCoin, PayNearMe, QuantConnect, TipRanks

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  • FamZoo, LendUp, Money Desktop, PayNearMe, and TipRanks win Best of Show honors at FinovateSpring 2013 in San Francisco.
  • Blaze Mobile earns three NFC mobile payment patents.
  • OpenCoin announces completion of an angel funding round from Google Ventures and IDG Capital Partners.
  • ForexThink interviews QuantConnect founder and CEO Jared Broad.
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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Zooz Consumer Driven Payment Platform Brings One Tap Checkout for Consumers and Higher Conversion Rates for Merchants

By David Penn Posted on
Categories: FinovateSpring 2013, Zooz

Thumbnail image for ZOOZLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Next up is Zooz, presenting their consumer-driven payment platform, which generates smart consumer insights to help merchants boost conversion rates while providing customers with a seamless buying experience.
“Zooz will show an exciting new feature that demonstrates an important use case of the Zooz consumer driven platform capabilities.”
Product Launched: March 2012
HQ Location: Raanana, Israel
Company Founded: June 2010
Metrics: Raised $3.5 million; 15 employees; more than 5,000 registered apps and sites
Website: zooz.com
Twitter: @ZooZpayments
Presenting Noam Inbar (VP Business Development) and Ronen Morecki (CTO & Founder)

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Adobe Introduces the Digital Marketing Cloud to Help FIs Manage Marketing Campaigns

By David Penn Posted on
Categories: Adobe, FinovateSpring 2013

adobe_logo.jpgThis post is part of our live coverage of FinovateSpring 2013.

A complete set of analytics, social, advertising, targeting and web experience management solutions is what you’ll find in Adobe’s Digital Marketing Cloud, next up here at FinovateSpring.
“Capture data-driven customer insights and boost customer loyalty through useful online experiences. Captivate and connect with customers across business-critical digital channels using the Adobe Marketing Cloud. Maximize the value and impact of your institution’s online presence and drive online customer conversion using the robust analytics and powerful visualization tools in Adobe Marketing Cloud. 
Launch, analyze, and refine lead generation campaigns across channels, including web, mobile and email. Get real-time insight into online campaign performance and engagement. Modify in-progress campaigns to increase response rates, conversion rates, and revenue. Then refine and personalize experiences to encourage repeat visits.”

Product Launched: October 2012

HQ Location: San Jose, California
Company Founded: December 1982
Website: Adobe.com
Twitter: @AdobeMktgCloud
Presenting Chris Young (Director, Industry Strategy, Financial Services) and Aaron Johnson (Principal Solutions Consultant)

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LendUp Ladder Helps the Underbanked Borrow and Build Credit

By David Penn Posted on
Categories: FinovateSpring 2013, LendUp

Thumbnail image for LendUpLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Socially responsible lending to the underbanked? Meet LendUp and their program to use small dollar loans to help borrowers build credit.
“The LendUp Ladder changes the dynamics of a small dollar loan; rather than being a dangerous first step into a cycle of debt, small dollar loans become an opportunity to learn good financial behavior and to build credit.”

Product Launched: October 2012

HQ Location: San Francisco, California
Company Founded: November 2011
Website: lendup.com
Twitter: @LendUpLoans
Presenting Sasha Orloff (CEO & Co-Founder) and Jacob Rosenberg (CTO & Co-Founder)

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Gremln’s Secure Social Media Helps Regulated Companies Make the Most of Social Media

By David Penn Posted on
Categories: FinovateSpring 2013, Gremln

GremlnLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Social media like Facebook and Twitter offer both opportunities and challenges for most financial institutions looking to use these tools to better engage with their customers. Coming next to the stage is Gremln, with technology specifically geared toward helping FIs take advantage of social media.
“Gremln is introducing its new Secure Social Media version, designed for financial services companies. This new product creates the ability for marketing and compliance departments to work together toward the common goal of utilizing social media to build business and retain customers through engagement; all without violating guidelines set forth by regulatory bodies like the SEC, FFIEC, and FINRA.
Keyword and phrase filtering, abstract concept matching, a structured approval process, archiving and custom permission settings for each department and team member. All posts are subject to an approval process that you custom design. Maximize your use of social media fearlessly.”
Product Launched: November 2012
HQ Location: San Francisco, California
Company Founded: May 2011
Metrics: $750,000 raised; 10 full-time employees; more than 130,000 registered users
Website: Gremln.com
Twitter: @Gremln
Presenting Ryan Bell (CEO) and Michele Lain (Customer Service Manager)

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BrightFunds Brings an Investment Approach to Individual Philanthropy

By David Penn Posted on
Categories: Bright Funds, FinovateSpring 2013

Thumbnail image for BrightFundsLogoSm.jpgThis post is part of our live coverage of FinovateSpring 2013.

Our final presenter ahead of the break is BrightFunds. The company’s innovation addresses a growing need in online charitable giving.
“Bright Funds offers a simple, elegant tool to the financial services sector for effective charitable giving management. With Bright Funds, individuals create personalized giving portfolios and contribute to thoroughly researched funds of highly effective nonprofits addressing the greatest challenges of our time. Bright Funds combines the power of research, the reliability of a trusted financial service, and the convenience of centralized contributions and tax reporting.”
Product Launched: Beta November 2012; official launch May 2013
HQ Location: San Francisco, California
Company Founded: February 2012
Metrics: Raised $350,000; 4 full-time employees; thousands of members; signed enterprise partners
Twitter: @BrightFunds
Presenting Ty Walrod (CEO & Co-Founder) and Rutul Dave (Chief Products & Marketing & Co-Founder)

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Mortgage Harmony Presents HarmonyLoan Central with Loan Retention Software

By David Penn Posted on
Categories: FinovateSpring 2013, Mortgage Harmony

Thumbnail image for MortgageHarmonyLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Targeting mortgage, auto, student, and commercial loans, Mortgage Harmony is coming to the stage with their HarmonyLoan technology.
“HarmonyLoan Central is the client-branded, consumer web-interface for borrowers to access their HarmonyLoan. The Loan Retention Software (LRS) eliminates a traditional refinance. With one click and an e-signature, a borrower resets their rate, incurring zero closing costs, with no credit check, or underwriting, all in minutes. The FI has no back office processing costs, increases retention, at a premium yield. The servicer reduces portfolio churn, and the originator creates a recurring revenue stream. In other words, everyone wins.”
Product Launched: September 2012
HQ Location: McLean, Virginia
Company Founded: December 2008
Metrics: More than $1.5 million raised; 8 employees; 12 customers
Twitter: @harmonyloan
Presenting Keith Kelly (CEO) and Ray Crosier (President)

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