Author: David Penn

Finovate Alumni News– February 25, 2013

By David Penn Posted on
Categories: Azimo, Banno, BillGuard, Continuity Control, Kantox, Kony Solutions, MasterCard, SafetyPay, Service2Media, TrustedID, TSYS, Xero
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMasterCard announces MasterPass, enabling one-touch transactions with payment cards and devices.
  • Service2Media launches new version of App Lifecycle Platform, M2Active 4.0.
  • TSYS extends payment processing contract with Green Dot.
  • lovemoney.com features Azimo’s money transfer service.
  • Continuity Control releases regulatory compliance management system for small- to mid-size credit unions.
  • Kantox adds spot transactions to FX to offer a full range of FX services to corporate clients.
  • Kony opens EMEA office, enhances mobile CRM product.
  • Market Consensus reviews BillGuard.
  • New Zealand-based bank, ASB, supports automagic bank feeds into Xero.
  • Next Advisor compares TrustedID with competitor.
  • Des Moines Register reports: Open atmosphere, passion for product help Cedar Falls’ Banno grow.
  • SafetyPay to power Computop’s Paygate payment platform.
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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DeviceFidelity Receives $1 Million in Debt Financing

By David Penn Posted on
Categories: DeviceFidelity

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NFC plug-and-play technology firm DeviceFidelity has raised $1 million in debt financing.

Investors in the financing were not disclosed. However, six unspecified investors contributed to the financing starting on January 31st, according to a SEC filing.

The company’s leading innovations are in the field of mobile wallets. DeviceFidelity’s moneto (demoed at FinovateSpring 2012) uses microSD with an NFC chip to enable secure contactless transactions for both the iPhone and Android smartphones.

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TSYS Announces $1.4 Billion Acquisition of NetSpend

By David Penn Posted on
Categories: TSYS

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This week, TSYS announced that it is buying the second largest prepaid debit card company, NetSpend, for $1.4 billion. The purchase, expected to be complete by summer, will give TSYS access to the growing market for prepaid debit cards.

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Here’s a closer look at what TSYS is adding to their portfolio including a few facts about the prepaid debit card market:

    • The market for prepaid debit cards is estimated at 68 million potential consumers
    • NetSpend’s customer list includes more than 2.4 million accounts
    • More than 45% of NetSpend’s accounts are direct deposit
    • NetSpend prepaid debit cards are available at more than 62,000 locations
TSYS anticipates a 20% growth in the prepaid debit card market by 2018. 
TSYS first demoed with Finovate in 2010 as part of FinovateSpring.  They were also among the 64 companies that demoed at FinovateEurope in February. Videos of the FinovateEurope presentations will be available soon.

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iPay Solutions Tops 1.8 Million Payments in First Half of Fiscal 2013

By David Penn Posted on
Categories: ProfitStars

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iPay Solutions, the person-to-person payment service from ProfitStars has processed more than 1.8 million payments from July 1 through December 31, 2012. The payment value was more than $1.2 billion.

The company also announced a year-over-year increase for the second quarter of fiscal 2013 (October through December) of more than 38% in P2P users, and more than 37% in payments. The average amount per transaction was $719.

P2P payments have long been a mainstay of the iPay Solutions service, with the company offering a separate person-to-person solution in 2010. Now iPay Solutions is used for P2P payments by more than 2,700 financial institutions.

ProfitStars is a division of Jack Henry & Associates. The company has more than 11,000 clients globally, and was recognized by Celent as number #1 in Remote Deposit Capture and Branch Image Capture. They last demoed at FinovateSpring 2012. See their Budget Manager in action here.

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Finovate Alumni News — February 19, 2013

By David Penn Posted on
Categories: Acculynk, Arroweye Solutions, Azimo, Bill.com, Billhighway, Braintree, Compass Plus, EZBOB, FIS, Fiserv, Fuze Network, Hidden Levers, Pageonce, planwise, Prosper, Q2ebanking, SecondMarket, SoMoLend, Tradeshift, TransferWise, Yodlee
  • Thumbnail image for Finovate-F-Logo.jpgRescuecom highlights TransferWise as low cost, currency conversion option.
  • Acculynk‘s Payzur brings person-to-person payments to consumers on PULSE debit/ATM network.
  • Compass Plus helps Russian-based FI SwitchMaster reach processing benchmark.
  • ekmPowershop announces partnership with EZBOB.
  • American Banker reports: Planwise to Participate in Yodlee’s Incubator Program.
  • BillHighway hires new CFO.
  • Arroweye Solutions reports 40% growth due to 175% uptick in open loop card production, added 27 new clients in 2012.
  • Bill.com to provide Frantopia with accounting services.
  • Prosper unveils new protection for lenders.
  • The Next Web reports: Tradeshift adds support for accounting services Sage and Kashflow, helping businesses get paid.
  • Forbes considers how SoMoLend provides capital to small businesses.
  • VentureBeat reports SecondMarket is partnering with CircleUp to allow investors to invest in up-and-coming consumer product businesses.
  • Thomaston Savings Bank selects Q2ebanking’s full suite of ebanking solutions.
  • HiddenLevers launches portfolio stress testing app to help advisors generate leads.
  • Fiserv awarded Best-in-Class rating in 2012 Anti-Money Laundering Technology Review.
  • Gifting app Wrapp selects Braintree to power payments.
  • Pageonce adds person-to-person payment functionality to mobile app.
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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Pageonce Goes Person-to-Person with Pay Anyone

By David Penn Posted on
Categories: Pageonce

Thumbnail image for PageonceLogo.jpgPageonce’s drive to create a mobile checkbook on your smartphone just reached a new gear.

The new service, Pay Anyone, gives smartphone users the ability to make the sort of frequent, informal payments typically reserved for checks. Rather than write a check to the landlord or the babysitter or the repairman, users will simply be able to make the payment as part of a person-to-person transaction using their Android or iOS device.

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The new app is designed to deepen Pageonce’s presence in the local payments market, where checks written to small businesses and individuals represent trillions in purchase value. Here’s a closer look at what’s on the table:
  • Consumers write 11 billion checks a year to small businesses and individuals
  • Pageonce currently processes more than $1 million in bill payments daily
  • More than 50% of consumers do not use or rarely carry a checkbook, according to 2013 study
  • Pageonce has $23 million in funding; 6,000 billers; more than 7.5 million users
Pageonce demoed its Personal Assistant and Bill Assistant at FinovateSpring 2010. A look at Pay Anyone is available here.

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mBank & Efigence Team Up for Bank 3.0 Makeover

By David Penn Posted on
Categories: FinovateEurope 2013, mBank & Efigence
This post is a part of our live coverage of FinovateEurope 2013.

mBank_&_Efigence.jpgComing to the stage now is mBank & Efigence implementing a full “Bank 3.0” makeover that combines social media and “real-time customer gratification:

“mBank is the 1st established European bank to undergo a comprehensive, mass-scale, Bank 3.0″ revolution of its direct channels including modern UI/UX of transactional banking, PFM, video banking, transactional/real time marketing, social channels, gamification and mobile banking.”
Product Launched: June 2013
HQ Location: Lodz, Warsaw, Poland
Company Founded: mBank – 2000; Efigence – 1999
Metrics: mBank – 5,600 full-time employees; 3.5 million retail and SME customers; Efigence – 120 employees
Twitter: @mBankpl / @Efigence
Presenting Michał Panowicz (Managing Director, “New mBank” Project) and Bartek Wyszyński (Partner & SVP Strategy, Efigence)
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Mistral Mobile Unveils Mobile Front-End Building Solution

By David Penn Posted on
Categories: FinovateEurope 2013, Mistral Mobile
This post is a part of our live coverage of FinovateEurope 2013.

Representatives of Mistral Mobile are on their way to the stage now. The company will be demoing their Money Mobility Suite:

“Money Mobility Suite is the focal point of building a comprehensive mobile front-end for any financial service.
Suite integrates to any financial services 

mistral_250x94.jpgsystem such as core banking systems, payment processing systems, or a stored value account system and provides fully secure communication between the system and the Money Mobility applications in the handsets.

Suite provides fast time to market to deliver mobilization for various types of financial services. Most importantly, it provides remote management and configuration capabilities for all the applications through a single configuration management center and enables the financial service provider to instantly add or change features available for the users of the different financial services products.”
Product Launched: February 2013
HQ Location: New York, NY, USA
Company Founded: June 2012
Twitter: @MistralMobile
Presenting Peter Ollikainen (SVP Product Marketing) and Timo Tervo (CTO)
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Third Generation ayondo Underscores the Benefits of Social Trading

By David Penn Posted on
Categories: ayondo, FinovateEurope 2013
This post is a part of our live coverage of FinovateEurope 2013.
Starting off our final session here on Day Two of FinovateEurope is ayondo. Ayondo is bringing social trading to a new level of usability, social interaction and guidance from top traders.

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“The best traders. Now on your account. The idea is temptingly simple: Why should we make trades ourselves if we can get the best day traders on our accounts automatically?
Doing away with fees such as issue surcharges, transaction costs, and management and deposit commission? Build your own portfolio of top traders and change them as often as you like – for free.”
Product Launched: January 2012
HQ Location: Frankfurt am Main, Germany
Company Founded: 2008
Metrics: 12 employees; 3.2 million raised to date
Website: ayondo.com
Twitter: @ayondo_uk
Presenting Manuel Heyden (CEO & Founder) and Alexander Surminski (CMO)
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TraitWareID from Acuity Systems Provides Authentication Solution

By David Penn Posted on
Categories: Acuity Systems, FinovateEurope 2013
This post is a part of our live coverage of FinovateEurope 2013.

Acuity_Systems_hi-res.jpgNext up is Acuity Systems with their demonstration of TraitWareID:

“TraitWareID simplifies and secures access to protected websites and applications by employing the user’s mobile device as a login token, eliminating the use of inconvenient and problematic usernames and passwords.
TraitWareID does this with patent-pending technology, which begins with user authentication, then binds the user’s identity to their device. TraitWareID utilizes digital identity mapping to analyze the user-created content of the authentication device.
Adding the patent-pending, user friendly, PhotoAuth image-based activation method to TraitWareID will enhance the security and user experience for transactions of all types on an end user’s device.”

Product Launched: October 2012

HQ Location: Visalia, California, USA
Company Founded: July 2008
Metrics: $3.5 million raised to date; two full-time employees; pre-revenue
Twitter: @TraitWareID
Presenting Harlan Hutson (President) and Chris Canfield (Lead Project Engineer)
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Biletu App Brings Event Planning and Expense Sharing to the Smartphone

By David Penn Posted on
Categories: Biletu, FinovateEurope 2013
This post is a part of our live coverage of FinovateEurope 2013.

Biletu_lo_res_logo.jpgWith a new way to organize events and share expenses with friends, Biletu is the next company to take the stage here at FinovateEurope:

“Biletu is an all-in-one, state-of-the-art app to join together events, chat, gamification, mobile payments, and social networks in a simple way. Biletu is a new, simple way to allow users to connect and for companies to engage innovatively with targeted users.”
Product Launched: April 2012
HQ Location: Tallinn, Estonia
Company Founded: January 2012
Metrics: $120,000 USD; 2 employees
Website: biletu.com
Twitter: @biletu
Presenting Felipe Millan (Founder)
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Five Degrees Introduces Matrix, a Web-Based Mid-Office Portal

By David Penn Posted on
Categories: FinovateEurope 2013, Five Degrees
This post is a part of our live coverage of FinovateEurope 2013.

five_degrees_new_logo.jpgFive Degrees is on its way to the stage right now. The company will be introducing Matrix, its banking services hub:

“Watch a fully-automated model bank with unparalleled self-service (on-boarding) that gives both customer and bank imminent insight and control in the process. Through the web-based, mid-office portal we offer the enormous potential of business benefits in terms of efficiency in adapting new businesses processes on the go.

As the market demands today, our open services hub integrates with external services like KYC checks, passport validation, PFM, etc. Come and view the fast and instant response for the next banking generation: rapid deployment, rich customer experience, instant and transparent insight for banks and clients alike.”

Product Launched: Q2 2013

HQ Location: Breukelen, Netherlands
Company Founded: July 2009
Metrics: 2012 Revenue: 3.3 million euros; 40 full-time employees; 5 million euros in capital raised
Presenting Martijn Hohmann (CEO) and Bjorn Holmthorsson (CTO)
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