Author: David Penn

SumUp and Revel Systems Team Up to Facilitate Card Payments

By David Penn Posted on
Categories: SumUp

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The partnership between the two companies means that the iPad-based cash registers provided by Revel Systems now will be able to process both debit and credit card payments.

Revel Systems hopes that SumUp‘s technology will enable the company to expand into Europe, where the ability to process cards is critical. Revel currently has more than 100 store chains and restaurants in North America, Australia, and Saudi Arabia using its point-of-sale platform.

Called a “European Square”, SumUp is focused on building technology that will bring cashless, point-of-sale commerce to small businesses. All the merchant requires is SumUp’s portable card reader and the iOS or Android app, and they are ready to accept card payments on their mobile device.

SumUp was founded in 2011, and is headquartered in Dublin, Ireland. The company has raised $20 million in funding, and recently announced that it had added American Express cards to the range of cards SumUp can process.

SumUp was one of the companies that demoed their technology as part of FinovateEurope in February. See them in action at our FinovateEurope video page here.

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Finovate Alumni News– April 29, 2013

By David Penn Posted on
Categories: Arxan Technologies, BankBazaar, BillFloat, Cardlytics, CSI globalVCard, GoodApril, ID Analytics, Kashoo, Metaforic, Temenos, Virtual Piggy
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNerdWallet profiles GoodApril. See them demo at FinovateSpring in May in San Francisco.
  • CSI Enterprises launches globalVCard for Travel mobile app.
  • Cairo Amman Bank to deploy Temenos T24.
  • Kashoo announces updates to its cloud accounting web app.
  • Cardlytics named a Best Workplace by The Atlanta Journal-Constitution for second consecutive year.
  • Virtual Piggy sees 100,000 new active users sign-up since March for its youth wallet solution. Come check out their demo at FinovateSpring.
  • Gartner names Metaforic as a 2013 Cool Vendor in the Security Infrastructure Protection category.
  • Arxan Mobile Application Integrity Protection for IBM Worklight Apps enables IBM Worklight customers to protect their mobile apps against hacking. Come check out Arxan’s new technology at FinovateSpring.
  • ID Analytics introduces new version of Credit Optics Credit Score for more intelligent insight into consumer behavior.
  • Newfination talks to BankBazaar about how it works.
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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Social Investment Network eToro Reaches 50 Million Trades

By David Penn Posted on
Categories: eToro

eToroLogo.jpg

eToro is marking their second year as an investment network, announcing a handful of metrics and milestones as part of the celebration:

  • 50 million trades processed
  • 3 million registered users
  • 200,000 active investors

eToro allows investors to invest together, sharing trading information and/or following “top traders” who may have as many as 9,000 other investors following their every move in the market. The platform includes safeguards, such as a tool that will prevent investors from investing more than 20% with any one trader. Investors can participate in eToro for as little as $50. And the company is currently offering a $20 gift card to new users.

eToro was founded in 2007, and is led by CEO Jonathan Assia and CTO David Ring. The company has raised nearly $34 million in funding, including a $15 million round in March.

eToro demonstrated their technology last year as part of FinovateFall, winning Best of Show for the fourth time. See them in action here.

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Finovate Alumni News– April 26, 2013

By David Penn Posted on
Categories: Actiance, Bill.com, Credit Agricole, eToro, Geezeo, Guardian Analytics, Taulia, TransferWise, Wallaby Financial
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSeventy2Minutes reviews TransferWise as a PayPal alternative.
  • Wallaby Financial to participate in Frequent Travel University educational event. See them demo at FinovateSpring.
  • Credit Agricole’s social media bank celebrates its second year.
  • Social investment network eToro reaches 50 million trades.
  • Access Softek and Geezeo partner to integrate Access Softek’s mobile banking with Geezeo’s PFM.
  • Guardian Analytics unveils FraudMAP Wire product to prevent wire tap.
  • San Francisco Business Times names Taulia one of the 2013 Best Places to Work in the Bay Area.
  • VentureBeat reports Bill.com has converted more than 40% of its customers from checks to electronic ACH transactions.
  • American Banker reports: Actiance Updates Social Media Management Software.
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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InvoiceASAP for PayPal and QuickBooks Launches Version 4.0 for iOS

By David Penn Posted on
Categories: invoiceASAP

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Creating and sending invoices on the go has become that much easier with news of an InvoiceASAP for PayPal and QuickBooks upgrade for iOS devices.

InvoiceASAP puts mobile invoicing and secure cloud storage in the hands of the average small-to-medium sized merchant. The mobile app allows businesses to sync their data without having to double-enter the information, capture and store signatures, and is QuickBooks compatible.

Version 4.0 includes the following enhancements:

  • Integrated with Zebra Bluetooth printers
  • Fixed API timeout issue
  • Added new estimates to tab bar

InvoiceASAP for PayPal and QuickBooks app is built for both the iPhone and the iPad, and has been optimized for the iPhone 5.

A mobile invoicing and payments platform based in the cloud, InvoiceASAP is available for free as a “starter” service, with greater functionality such as accepting credit cards for payment of invoices, and syncing with QuickBooks, available through a monthly subscription.

InvoiceASAP is led by CEO Paul Hoeper and CTO Anne Maxwell.  Founded in 2010, the company is based in Emeryville, California.

InvoiceASAP is among the companies that will be presenting their technology this May in San Francisco as part of FinovateSpring. To learn more about the event, and to save your space, visit our FinovateSpring information page here.

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Finovate Alumni News– April 25, 2013

By David Penn Posted on
Categories: BillFloat, CommunityLend, Cortera, eyeOpen, ID Analytics, Jack Henry, Kabbage, Kofax, Kony Solutions, Outright.com, TSYS, Zooz
  • Bank Independent picks Jack Henry Banking’s SilverLake technology for enterprise-wide automation.
  • TSYS Merchant Solutions launches Pay in Your Currency multi-currency solution.
  • CommunityLend earns spot on Branham300’s Top 25 Up and Coming companies roster.
  • ID Analytics introduces new version of Credit Optics Credit Score for more insight into consumer behavior.
  • Kofax ranked a “Leader” by Forrester Research in The Forrester Wave report.
  • AGBeat features Kabbage. Check them out at FinovateSpring.
  • Kony Solutions announces record year in FY2013, growing 90% YOY. Hires Abhay Parasnis as President and COO.
  • Mobile World Live takes a look at Zooz’s recent funding round. Meet Zooz in San Francisco as they demo their technology as part of 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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ACI Worldwide Integrates Cards, Payments and Mobile Banking

By David Penn Posted on
Categories: ACI Worldwide

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It’s been a week of announcements and new initiatives from ACI Worldwide. Here’s a round-up of what the Florida-based payments systems innovator has been up to in just the past seven days.

Issue Multiple Cards of Different Types in Less Time

Last Wednesday, ACI announced the latest version of ACI Issuer. The solution provides a single platform for credit, debit, pre-paid, and contactless card management.

The latest version includes flexible, rule-based product definition, and promises an easy integration with online channels. ACI Issuer 4.4 is multi-language, multi-institution, and multi-currency.

All Things to All Channels, All Currencies, All Networks

The goal of ACI Universal Payments Platform is to make it easier for financial institutions to adapt to changes in the industry. This includes everything from new regulatory developments to the challenge of mobile commerce.

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Universal Payments Platform integrates all aspects of payment processing, regardless of type, currency, channel or network. It is geared toward helping organizations bring new products to market, achieve a better view of their customer and business data, and respond to changing regulations and compliance needs.

Online Banking Goes Mobile

Bringing personal finance management, integrated bill payment, and account-to-account transfers to iOS and Android smartphones are the main attractions of ACI’s Architect Mobile Banking feature. The launch of the solution helps the company bridge the distance between online banking and the potential for growth in banking via mobile devices. 

ACI partners with more than 1,700 financial institutions and payment processors globally. Driving $13 trillion in payments daily, the company processes payments for more than 250 of the world’s leading retail businesses, and 18 of the biggest banks. 

ACI Worldwide has been a Finovate alum since 2011, when they participated in FinovateFall. See them demo their Mobile Enterprise Banker product, in collaboration with MShift, here.

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Zooz Closes $2 Million Series A Round Led by XSeed Capital

By David Penn Posted on
Categories: Dwolla, Klarna, PayPal, Zooz

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Product development and building partnerships with retailers are at the top of the To-Do List for mobile payment innovator, Zooz, as the company announces the conclusion of a productive round of venture capital funding.

The $2 million in capital from XSeed and others puts Zooz’s total capital raised at $3.5 million. The company raised $1.5 million in seed funding in January 2012.

Zooz’s payment platform is designed to help merchants improve and get more out of the transactions that go through their websites and mobile apps. The company’s solution provides one tap checkout, actionable analytics that provide merchant-specific suggestions, and “device-centric” security and fraud prevention.

Zooz currently has partnerships with companies like MasterCard and First Data, as well as with Finovate alumni like Dwolla, Klarna, and PayPal. Founded in 2010 and headquartered in Israel, Zooz is led by co-founders Oren Levy (CEO) and Ronen Morecki (CTO).

Zooz is one of the companies that will be demonstrating their technology at FinovateSpring in San Francisco in May. To learn more about the event, including information on how to purchase tickets and save your spot, visit our FinovateSpring page here.

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Finovate Alumni News– April 23, 2013

By David Penn Posted on
Categories: ACI Worldwide, Azimo, Bright Funds, Fenergo, Kofax, Locaid, Mortgage Harmony, peerTransfer, Ping Identity, ProfitStars, SecureKey, SocietyOne, TransferWise, Zooz

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  • Executive Magazine profiles TransferWise and talks Middle East expansion.
  • Reference Data Review takes a look at Fenergo’s efforts to make compliance easier and more efficient.
  • ACI Worldwide announces Universal Payments Platform.
  • TransferWise wins Estonia’s “Best E-Service” contest.
  • Joe Brancucci, CEO of GTE Financial joins Mortgage Harmony Advisory Board.
  • Keith Kelly, Mortgage Harmony CEO, awarded a Tech All-Star Award by Mortgage Banking Magazine. Check out Mortgage Harmony’s live demo at FinovateSpring.
  • Ping Identity named 2013 Top Workplace by The Denver Post for second consecutive year.
  • SecureKey named Top Growth Company in 2013 Branham300 list of Top 10 Growth Companies.
  • Global Security Services Company selects Kofax to automate accounts payable operations in Latin America. Check out Kofax at FinovateSpring.
  • ProfitStars wins 2013 Payments System Awards from NACHA – the Electronic Payments Association.
  • ACI Worldwide’s Architech Mobile Banking provides PFM, integrated bill payment and account-to-account transfers to iOS, Android smartphones.
  • Azimo wins SWIFT Innotribe challenge; advances to finals at Sibos 2013 in Dubai.
  • peerTransfer now serving more than 300 colleges and universities, has partnered with 48 new educational institutions during the first quarter of 2013.
  • Zooz closes $2 million Series A round led by XSeed Capital. See Zooz in action at FinovateSpring in May.
  • GeoComply and Locaid team up to bring geolocation services to mobile and Internet gaming industry. See Locaid demo at FinovateSpring in May.
  • Innov8social interviews Julia Streuli, head of communications for Bright Funds. Join Bright Funds in San Francisco for 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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Arvest Bank Chooses IntelliResponse Virtual Agent

By David Penn Posted on
Categories: IntelliResponse

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Ensuring a smooth transition for recently acquired branches is part of the thinking behind Arvest Bank’s decision to deploy IntelliResponse Virtual Agent technology on its corporate website. The bank plans to expand the service to the full website soon afterward.

Arvest Bank will be taking over 29 Bank of America branches in four states: Arkansas, Oklahoma, Kansas, and Missouri. Deposits from these new branches total $750 million.

A few metrics on Arvest:

  • The largest bank in Arkansas, ranked by deposits
  • More than $13 billion in assets
  • More than 260 locations in 90 municipalities
  • Owned by the Walton family, founders of WalMart

IntelliResponse has more than 360 live implementations, serving customers and responding to more than 100 million inquiries each year. 

The company’s Enterprise Virtual Agent technology enables everything from corporate webpages to mobile applications to function with a “virtual concierge.” Because customers can ask questions in a normal, conversational voice, the company’s EVA technology has the potential to significantly enhance the online experience.

IntelliResponse is among the companies that will be demoing their technology at FinovateSpring in San Francisco in May. To learn more about the event, and to save your spot, visit our FinovateSpring page here.

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Finovate Alumni News– April 19, 2013

By David Penn Posted on
Categories: BillGuard, Blackhawk Network, Bolstr, eToro, GMC Software Technology, IntelliResponse, MoneyDesktop, Pageonce, planwise, Rebirth Financial, Trustly, Xero
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgArvest Bank to deploy IntelliResponse Virtual Agent technology. See them demo at FinovateSpring in May.
  • GMC Software Technology founder Rene Muller wins Lifetime Achievement award.
  • PrivatBank to provide service to customers wearing Google Glass.
  • American Banker interviews Pageonce COO Steve Schultz on the company’s goal to be the “go-to financial app on the phone”.
  • Mountain America CU launches MoneyDesktop’s My Money Manager PFM.
  • Blackhawk Network prices of its IPO of 10,000,000 shares of Class A common stock at $23 per share.
  • American Banker reports: Planwise Courts Bank Partners.
  • Black Enterprise features Bolstr as Tech Startup of the Week.
  • American Banker reports BillGuard has flagged $50M in suspect charges.
  • The Globe and Mail considers how eToro can benefit investors.
  • TechCrunch reports: SMB Inventory Management Startup TradeGecko Partners With Xero Accounting.
  • Rebirth Financial unveils white-label crowdfunding platform.
  • Trustly has now processed 10 billion SEK in payments since it began in 2008, has fully rolled out Direktbetalning in Sweden 
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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The World Inside a Wallaby Wallet

By David Penn Posted on
Categories: Wallaby Financial

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Knowing the kind of credit cards your customers carry is helpful knowledge for any merchant. And that kind of data is perhaps all the more worthwhile for a company like Wallaby Financial, creators of The Wallaby Card and app.

The app stores the information from all of a user’s cards. Then it automatically selects the optimal card to be used for any given purpose. Cardholders set their preferences  and the technology does the rest.

So what’s inside the wallets of Wallaby cardholders? The inquiring minds at Wallaby Financial have just found out:

  • 20% have six or more cards
  • 30% have three or more cards from the “Big Four” (Visa, MasterCard, American Express, and Discover)
  • 49% have two or more cards that offer rewards
  • 77% have a points reward card (as opposed to miles or cash back)

The average number of cards in a Wallaby user’s wallet? 4.2. And only 2% of all Wallaby card holders have cards with no rewards at all.

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Infographic courtesy of Wallaby Financial

What’s interesting to note is how these numbers compare with the broader, card-carrying public. According to statistics posted by CreditCards.com (as of 2010):

  • The average credit cardholder has 3.5 cards
  • 60% of consumers have a rewards credit card
  • 78% of consumers own a credit card

Also noteworthy was the strong showing from American Express among Wallaby users compared to AMEX penetration among the cardholding population at large (73% to 27%). Compare also Discover card’s 24% penetration of the Wallaby wallet to the card’s 30% penetration rate overall.

Wallaby Financial is among the companies that will be demoing their technology at FinovateSpring in May. To learn more about our upcoming event, visit our FinovateSpring page here.

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