Digital Mailer’s My Virtual StrongBox a Lock for Redstone FCU

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Redstone Federal Credit Union has seen more than 30,000 members (20% of its online banking base) take advantage of the My Virtual StrongBox service powered by DigitalMailer in the five months since the technology was deployed.

My Virtual StrongBox allows users to store copies of everything from wills and birth certificates to deeds and insurance policies. It integrates with online banking platforms and personal finance management (PFM) tools by way of APIs. Files are encrypted so that only the user can access them.

Founded in 1951 and based in Huntsville, Alabama, Redstone Federal is the largest credit union in the state. As of 2012, the company is the 16th largest credit union by membership in the U.S. and 34th largest by assets.

Here are a few additional metrics on Redstone FCU:

  • More than $3 billion in assets
  • More than 350,000 accounts
  • More than 130,000 online banking users

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DigitalMailer has processed more than 60 milllion electronic statements and 80 million emails since inception in March 2000. Its products are used by more than 200 financial institutions. Ron Daly is CEO. 

The company demoed its technology as part of FinovateFall 2012. See them in action here.

Finovate Alumni News– May 6, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBraintree’s Bryan Johnson provides columnist James Altucher with an example of “how to go from $0 to $1,000,000 in two years.” See Braintree demo at FinovateSpring in San Francisco.
  • TransactionAge takes a look at Klarna as an alternative to Google Wallet.
  • Digital Mailer’s My Virtual StrongBox deployed by Redstone Federal Credit Union.
  • Investment News features Finect, a social network for financial advisors. Join them in San Francisco for FinovateSpring.
  • miiCard partners with Bitcoin Exchange Platform, Tradehill.
  • Innovation Agency updates Innovation Café to support formal judging process and integrated rewards payment process.
  • TIO Networks announces partnership with mobile app developer iFactor Consulting.
  • Bloomberg Businessweek reports: On Deck Capital Targets Businesses Banks Won’t Touch.
  • David Barrett, Expensify CEO, interviewed on SkyNews to talk about Bitcoin. Come check out what’s new at Expensify at FinovateSpring next week.
  • Best Vendor profiles Gremln. See them in action at FinovateSpring in San Francisco.
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.

Webby Awards Honor Finovate Alums Among Web’s Best

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So what do fintech innovators, and Finovate alumni, like Mint, Manilla, and Dashlane have in common with the likes of the Chrome Web Lab, Tom Hanks’ Electric City, and Cracked.com?

How about earning honors from the esteemed judges of the 2013 Webby Awards?

Thumbnail image for ManillaLogo.jpgManilla made the most of its showing at the 17th Annual Webby Awards, picking up honors in three categories (Utilities & Services, Web Services & Applications, and Financial Services/Banking). But the biggest winner among the Finovate-affiliated nominees was Mint. Mint won the Webby People’s Voice award in the Financial Services/Banking category, along with earning an honor in the Best User Experience category.

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Also representing well at the Webby Awards was Dashlane, coming in for Web Services & Applications honors, and a trio of Finovate alumnus that impressed judges in the Financial Services/Banking category: LearnVest, UBank’s PeopleLikeU, and Kapitall.


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The Webby Awards have been given out every year since 1996 by the International Academy of Digital Arts and Sciences (IADAS). The Academy includes among its members such luminaries as David Bowie, Vint Cerf, and Arianna Huffington. 

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The Webbys provide two major awards per category: the Webby Award and the Webby People’s Voice Award. The latter award is determined by an online vote.

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Learn more about our Webby Award-winning alumni at our demo pages.
ManillaFinovateFall 2012
MintFinovate 2007
DashlaneFinovateFall 2012
LearnVestFinovateFall 2012
KapitallFinovateFall 2010

On Deck Announces $17 Million Expanded Series D Round

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The latest funding for On Deck Capital comes courtesy of PayPal co-founder Peter Thiel, Industry Ventures, and Google Ventures, which led the round. The announcement is the second of its kind this year for On Deck, which raised $42 million in funding from Institutional Venture Partners in February.

The company’s immediate plans for the capital are practical: building products and adding staff. But longer-term On Deck remains focused on playing a growing role in the lending requirements of the five million small businesses in the United States.

Here are a few metrics from On Deck:

  • Raised $59 million in funding so far in 2013; $100 million to date
  • Increased its repeat customers by 34% in 2012
  • Loaned $400 million since inception
  • Grew distribution partners to 300% to 1,500 nationwide in 2012

On Deck was founded in 2007, and is headquartered in New York. Their small business loans range from $5,000 to $150,000, with terms extending as long as 18 months. Businesses that have been operating for longer than one year, and have annual revenues of at least $100,000 are eligible.

On Deck was among the companies to take part in FinovateSpring 2012. See them in action here.

Finovate Alumni News– May 2, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNewfination interviews Adhil Shetty, founder and CEO of BankBazaar.
  • Pymnts.com features TipRanks Financial Accountability Engine. Join TipRans in San Francisco for FinovateSpring.
  • Klarna co-founder Niklas Adalberth talks about hyper growth in Europe.
  • InvestmentNews columnist takes a look at Finect. See them demo at FinovateSpring in May.
  • Yodlee forms partnership with London fintech incubator Level39.
  • Virtual Piggy wins The National Parenting Center’s 2013 Seal of Approval under the Websites category. See it demo live at FinovateSpring.
  • Signifyd receives the Merchant Risk Council’s 2013 Emerging Technology Award in the startup company category. Come see it demo live at FinovateSpring.
  • Engadget reports: PayPal and Discover expand partnership, will reach 2 million stores by year-end.
  • PandoDaily looks at Xero’s stealth period.
  • Billhighway partners with the Automation Alley Fund organization.
  • Braintree hires Google Wallet co-creator &
    former Square employee Rob von Behren as lead software engineer.

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.

FinovateSpring 2013 Sneak Peek: Part 4

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Our FinovateSpring 2013 Sneak Peek preview continues with another 12 companies that will be demoing their innovative technologies at our San Francisco event on May 14 and 15.

If you missed the previous installments of our Sneak Peek preview, here are links to parts 1-3:

Everything you need to know about FinovateSpring, from a full list of presenters to instructions on how to buy tickets, is available at our FinovateSpring 2013 information page here.  

For now, here’s a look at a dozen more fintech companies who will be presenting their innovations on stage in May.

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Arxan Technologies protects the App Economy from emerging hacker attacks with award-winning application integrity protection products that provide best-of-breed mobile app shielding.
Features: 
  • Strengthens financial apps with self-defense and tamper-resistance
  • Delivers multi-layered application security, broadest platform
Why it’s great: Arxan provides global Forbes 500 companies with the world’s strongest and most deployed application integrity protection to launch multi-OS mobile services.

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BBC Easy is a web service that increases lending efficiency and reduces risk by automating the collection of borrower’s financial data.
Features:
  • Pulls financial data directly from the top 10 accounting systems
  • Loans are monitored with automated Borrowing Base Certificates
Why it’s great: Direct access to financial data lowers risk and increases loan efficiency.

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CardFlight is the easiest way to integrate card-present payments into your own mobile apps.
Features:
  • Encrypted reader that works with virtually any iOS or Android device
  • Easy, flexible SDK
  • Support for most payment processors
Why it’s great: Easily accept card-present payments in your apps while keeping full control of your user experience.

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Corduro Register helps enable Payments as a Service for the enterprise.
Feature:
  • No Credit Card, No Phone, No Hassle 
Why it’s great: Corduro focuses on enterprise clients, providing them with a unique way to pay.

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Credit Sesame is the consumer’s credit and lending expert, providing smart financing for your life.
Features: 
  • Buying a house? See what you can afford
  • Compare multiple loans and find the best one
  • Monitor your credit for free on the go
Why it’s great: It’s the one mobile app that provides the information, analysis, advice, and offers you need for every important financing decision.

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Escardgot introduces the Helix SCard. Evolved spending. Simple. Store your cards, select, and swipe.
Features:
  • Merchants can send cards and offers directly to a consumer’s phone
  • A consumer can decide which ones to use when ready to swipe
Why it’s great: The Helix SCard is the perfect transitional technology to usher in the wireless payment industry. No POAS hardware changes like NFC.

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Finect is the only online network for the financial industry.
Features:
  • Online profiles and groups with seamless LinkedIn integration and professional verification
  • One-stop compliant social media
  • First-ever investment profiles for real-time peer discussions
Why it’s great: We’re a one-stop shop network allowing you to build your brand and community in a compliant manner.

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GoNow‘s eWallet Platform will ignite mass market eWallet adoption and includes a “Super Smartcard” programmed by the eWallet which enables payments at any POS terminal.
Features:
  • Full compatible with existing POS infrastructure
  • Generates new revenue, extends brand
  • GoNow has independent secure element
Why it’s great: Available as white label, GoNow’s eWallet Platform makes it easy to launch an eWallet that works everywhere and offers new revenue opportunities.

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Narrative Science enables companies to automatically uncover insights hidden in data and create new content and communication at a scale and frequency never before possible.
Features: 
  • Provides powerful insight across a variety of industries
  • Business intelligence solutions that deliver actionable insight
Why it’s great: Narrative Science’s Quill solution addresses today’s challenges with Investment Research and Portfolio Reporting for both individual and institutional investors.

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Plastyc Inc. enables better banking services to be delivered to all via web and mobile, regardless of income, age, and bankability.
Features: 
  • Turns prepaid cards into DDA alternative
  • Web/mobile consumer interfaces with push messaging
  • 24×7 monitoring and analytics
Why it’s great: Brings life-time-value of prepaid accounts to unprecedented levels.

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P2BInvestor introduces crowdfunding receivables.
Features:
  • Investor dashboard for crowdfunding platform
  • Explore receivables loans to invest in
  • Interactive returns calculator
Why it’s great: First platform for crowdfunding receivable loans

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Wallaby Financial is the first service to combine a cloud-based wallet with an intelligent credit card to help consumers maximize rewards and cash back.
Features:
  • Build the perfect wallet and credit card mix
  • Get more rewards and cash back
  • Swipe smart every time you shop
Why it’s great: Consumers that want to maximize their credit card rewards and cash back can build their ideal wallet with Wallaby.
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For more information on being a part of FinovateSpring 2013, see our FAQ. To register, visit our FinovateSpring page here.

Yodlee Names Armsby New Chief Financial Officer

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Formerly the chief financial officer for View, Inc., Mike Armsby has been tapped to become Yodlee’s next CFO.

Experience in managing and accelerating growth, along with helping guide companies into new markets, are among the qualifications highlighted by company President and CEO Anil Arora when talking about the appointment. Stepping down after serving Yodlee as interim CEO is Marc Blouin, who will stay on as Senior Vice President of Finance.

While at View (formerly Soladigm), Armsby helped the company finance the expansion of its commercial production, helping raise more than $150 million through a pair of equity rounds and debt financing. Previous to his time at View, Armsby held positions at Price Waterhouse, Bain & Company, and PowerLight, where he was also CFO.

Yodlee provides financial solutions to enable and empower online banking. Headquartered in Redwood City, California, the company’s technology is used by more than 600 financial institutions and more than 40 million consumers.

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

BancBox Heralds Era of Automated Escrow for Crowdfunders

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The quickest path to the front of the pack is often to create a pack of your own.

That’s one way of looking at the recent announcement from BancBox CEO Sanj Goyle, whose company just built what they are calling the first online investment portal with an automated escrow service.

The idea behind the portal, BancBoxCrowd, is to provide a platform for creating independent escrow accounts for crowdfunded projects. The money collected from investors is either returned if the project is not completed, or distributed accordingly if the funding goal is reached.

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BancBoxCrowd is fully SEC and FINRA compliant, and works by copying and pasting the relevant code to the destination page or solution. Users can monitor funding and escrow status, as well as get investor information, all in real-time.

Founded in 2008 and based in San Mateo, California, BancBox began as a way for non-financial institutions to collect, store, and send money in a secure, compliant, and integrated way. The platform has opened more than 100,000 consumer accounts, and processed billions of dollars in payments.

BancBox demoed their technology as part of FinovateSpring in 2012. See their presentation here.

SumUp and Revel Systems Team Up to Facilitate Card Payments

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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 SumUps 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.

Finovate Alumni News– April 29, 2013

  • 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.

Social Investment Network eToro Reaches 50 Million Trades

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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.

Finovate Alumni News– April 26, 2013

  • 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.