Author: Julie Muhn (@julieschicktanz)

FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Avoka, Backbase, BBVA, Bluefin Payment Systems, Chain.com, Envestnet, Expensify, FinDEVr APIntelligence, Hyperwallet, InComm, Intuit, Kabbage, modoPAYMENTS, On Deck Capital, PayPal, Temenos, Trulioo, Yodlee

FinDEVr Silicon ValleyFDNY17_EventLogo_v1(wdate) was a success! Tickets for upcoming FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

On FinDEVr.com

The latest from FinDEVr Silicon Valley presenters

  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Hyperwallet announces support for real-time, push-to-card payments-solution,Visa Direct.
  • Full Envestnet | Yodlee Integration Give Advisers Big Picture View of Client Finances.
  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Expensify launches direct integration with Zenefits.

Alumni updates

  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • Bluefin Payment Systems launches cloud-based hosting option for its DecryptxPCI-validated P2PE product through Amazon Web Services.
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal.
  • Chain launches open-source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • On Deck Capital and Kabbage agree to disclose SMB loan pricing.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: BBVA, Bluefin Payment Systems, Civic, FIS, Handpoint, InComm, PayStand, PrivatBank, Signifyd, Socure, Temenos, ThetaRay, TSYS, Yoyo

On Finovate.com

  • H2 Ventures and KPMG Unveil 2016 Fintech 100

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to U.K.’s high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.
  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • FIS to provide reconciliation solution to U.K.-based Raphaels Bank to facilitate access to faster payments.
  • PayStand offers payment certification and notarization for its customers via the blockchain.
  • PrivatBank adds fund-transfer functionality via iMessage to its Privat24 mobile banking app.
  • ThetaRay unveils its analytic platform for fraud detection, THETA.

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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Lending Club Launches Car Loan Refinance Product

Lending Club Launches Car Loan Refinance Product
By Julie Muhn (@julieschicktanz) Posted on
Categories: Lending Club

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U.S. P2P lending giant Lending Club has been offering car buyers an alternative borrowing experience since it launched ten years ago. Today, the company announced it is bringing that same transparent experience to the auto refinancing industry.

In its press release, the company cited data from the Center for Responsible Lending, which states that consumers pay as much as $25 billion in interest payments every year due to “dealer markup” of their interest rate. Lending Club’s new Auto Refinancing product offers a solution that gives qualified borrowers a more affordable monthly payment and interest rate.

The California-based company, which already offers credit card debt refinancing, hopes to tap into the $1 trillion auto loan market. Consumers can apply online with no hard credit inquiry and compare refinancing offers against their existing auto loan. Lending Club will pilot Auto Refinancing to California residents with FICO scores above 640, but plans to expand geographically and to people with lower FICO scores.

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At launch, the company is not using its marketplace lending model to fund the auto debt; instead, the company itself will buy the debt. However, according to Lending Club CEO Scott Sanborn, the leverage of the company’s balance sheet is only temporary and will be immaterial.

Stakeholders seem to be responding well to today’s news. Lending Club’s stock is up 1.64% to $4.95, still below the company’s $15 IPO price. Lending Club’ stock dipped in May after its then CEO Renaud Laplanche stepped down amid accusations of loan-documentation errors.

Founded in 2006, Lending Club demoed at FinovateSpring 2009 and at the inaugural Finovate in 2007.

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Lendio Closes $20 Million Funding Round

Lendio Closes $20 Million Funding Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Lendio

lendio_homepage_october2016

Small-business loan-marketplace Lendio today reeled in $20 million in Series D funding. Leading the round were Comcast Ventures and Stereo Capital. Existing investors Napier Park, Blumberg Capital, Tribeca Venture Partners and North Hill Ventures also contributed, bringing Lendio’s total funding to $31 million.

The Utah-based company will use the funds to boost Lendio’s growth via marketing, sales, and brand awareness, which should augment its YOY growth, which already sits at 100%. Other growth figures include:

  • In Q3, Lendio funded $63+ million in loans, up 14% from Q2 2016
  • In Q3, Lendio funded more than 2,900 businesses, up 22% from Q2 2016
  • Lendio saw a record number of repeat customers in Q3, up 33% over Q2 2016

Regarding the company’s growth, Lendio founder and CEO Brock Blake said, “Even though we’ve helped facilitate funding for more than 13,000 small business owners, we’re just scratching the surface as to the number of business owners that we can help; our goal is to help fuel the American Dream for the millions of SMBs that make up the backbone of our U.S. economy.”

Lendio seeks to decrease the time it takes for small businesses to secure loans. The company works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. Lendio partnered with American Express in April to power its merchant-financing offering. In 2015, the company facilitated $128+ million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.

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FinovateAsia Sneak Peek: FixNix

FinovateAsia Sneak Peek: FixNix
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, FixNix

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FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

FixNix was born as a bootstrapping entrepreneurial venture to build an affordable cloud GRC suite for growth markets and SMBs.

Features:

  • User friendly: It doesn’t deliver a product, it delivers an experience
  • Automation: There is no magic, nor are there hidden tricks, but FixNix’s technology can take you there
  • Simple reporting

Why it’s great
Cloud-ify your regulatory compliance in just 2 minutes!

Presenterscreen-shot-2016-10-24-at-1-55-04-pm

Shanmugavel Sankaran, CEO, founder
Sankaran, aka Shan, worked for Capillary Technologies as CISO, gaining extensive experience and deep understanding of software and cyber security.
LinkedIn

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FinovateAsia Sneak Peek: Sentifi

FinovateAsia Sneak Peek: Sentifi
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, Sentifi

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FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Winner of the 2016 Swiss Fintech award, Sentifi generates real-time, actionable crowd intelligence from over 3 million financial sources not yet available via traditional news outlets.

Features:

  • Real-time insights for your investment portfolio
  • Targeted content and analysis from over 3 million sources
  • Custom solutions for media platforms to increase traffic, revenue, and user engagement

Why it’s great
Sentifi makes it simple to maximize your investment strategy. Using the power of the crowd, “Sentifi” your portfolio to gain real-time insights from over 3 million qualified sources. All in one place.

Presenterscreen-shot-2016-10-25-at-9-44-19-am

Dr. Anders Bally, CEO
With a passion for financial technology and crowd intelligence, Bally has used his 25+ years of experience in global financial markets to connect the world with innovative insights previously unavailable.
LinkedIn

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, AdviceRobo, Avoka, Backbase, Bill.com, Bizfi, Chain.com, Fiserv, Hyperwallet, Intuit, Lending Club, Lendio, PayPal, Trulioo, Yodlee

On Finovate.com

  • Lendio Closes $20 Million Funding Round
  • Lending Club Launches Car Loan Refinancing Product
  • Check out today’s sneak peeks of upcoming FinovateAsia demos:

Around the web

  • AdviceRobo reaches 900k credit scores
  • Bill.com partners with Intuit to power end-to-end accounts payable within QuickBooks Online
  • Actiance appoints Cynthia Crossland as CMO
  • Entrepreneur Magazine names Cardlytics One of the Best Entrepreneurial Companies in America
  • American Banker: Bizfi Hires Former Lending Club Exec as New CEO
  • Intuit expands partnership with PayPal to provide QuickBooks’ Online customers with a new way of accepting payments via PayPal
  • Farm Credit Services of America picks DNA from Fiserv to support agricultural lending
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries
  • Hyperwallet announces support for real-time, push-to-card payments solution, Visa Direct

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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PaySimple Pulls in $115 Million

PaySimple Pulls in $115 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, PaySimple

screen-shot-2016-10-24-at-11-11-05-am

Colorado-based service commerce solution PaySimple just closed its second round of funding since its founding in 2006. The $115 million round amounts to 7X more than the first round the company closed in 2011. PaySimple’s funding now totals $131 million.

The company anticipates the investment from Providence Strategic Growth will fuel efforts to market services online, automate payment acceptance, and deliver the solution to its customers. Mark Hastings, managing director and head of Providence Strategic Growth, will join PaySimple’s board of directors.

screen-shot-2016-10-24-at-1-33-39-pm

At FinovateFall 2012, PaySimple CEO Eric Remer (pictured right) demonstrated how the company uses early payment incentives to help small businesses get paid faster. Earlier this month, PaySimple began focusing on helping service-based businesses improve the customer experience by offering tools such as online appointment scheduling, payment and registration forms, and an online store, as well as a variety of ways to collect payment, such as in-person, online, over the phone, via invoice, and by recurring billing. Remer said, “The service-business model is centered around customers.” He added, “Business owners have to build trust and create lasting and ongoing relationships with people. Our service-commerce platform connects business owners and their staff to the people they do business with, instead of just the transactions or products sold.”

The company serves 17,000 clients in a range of industries, from fitness to professional services. In May, PaySimple partnered with small business loan marketplace Fundera to offer its clients a new way to procure working capital via the Fundera-empowered Loan Center.

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FinDEVr in Photos and the Press

FinDEVr in Photos and the Press
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr 2016 Silicon Valley
bbvafdsv16BBVA’s Shamir Karkal and Diego Blanco presentied the bank’s API Market

We had so much fun last week at FinDEVr Silicon Valley in Santa Clara that we could do it all over again this week!

Presenting companies brought their A-Games, showing off their tech in unique and thought-provoking ways. And with presentations on two stages at once, we saw double the innovation over the course of the two-day show. Videos of the live presentations will be available in a few weeks on FinDEVr.com. For now, here are a handful of pictures:

The Twitter conversation was unlike any we’ve seen at FinDEVr in the past. Check out our Techs on Twitter post, as well as other media coverage from the October 18 & 19 show:

I Programmer
Bedrock Topper For SQLite
by Kay Ewbank

Let’s Talk Payments
FinDEVr 2016: What’s Hot in FinTech?

Smartwave blog
Smartwave at FinDEVr Silicon Valley 2016

And we may take fintech seriously, but we’re also pretty serious about having a good time. Foosball, corn hole, and giant Jenga were among the favorite games at the event. Here’s @miss__Haley beating me at a game.

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Once again, thanks to all who blogged, tweeted, and attended to make this event a success. We’ll see you in New York in the spring of 2017!

FDNY17_EventLogo_v1(wdate)

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, CAN Capital, Envestnet, Expensify, Jumio, Kabbage, Kony, Larky, Lending Club, Modo Payments, On Deck Capital, PaySimple, ProfitStars, Yodlee, Zopa

On Finovate.com

  • Jumio Adds Biometric Facial Recognition to Netverify
  • Full Envestnet | Yodlee Integration Gives Advisers Big-picture View of Client Finances

Around the web

  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Lending Club partners with MileagePlus to offer borrowers and investors a way to earn award miles when they borrow or invest.
  • On Deck Capital, Kabbage, and CAN Capital agree to disclose SMB loan pricing
  • Expensify launches direct integration with Zenefits.
  • Actiance now aids in compliance for Workplace by Facebook
  • Check out the results of the 20-month pilot Filene conducted with Larky.
  • ProfitStars adds Financial Performance Suite Customer Profitability and Pricing module to the Independent Community Bankers of America.

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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Welcome to Day 2 of FinDEVr Silicon Valley

Welcome to Day 2 of FinDEVr Silicon Valley
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr 2016 Silicon Valley

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We had a blast yesterday at FinDEVr Silicon Valley here in Santa Clara! We saw dozens of presentations showing off cutting edge fintech and we’re ready for more.

Today’s registration opens at 9:00 a.m. continental breakfast, so grab a coffee and prepare for the day. If still you need a ticket, day-2 tickets are available at the registration desk or online.

Both tracks of presentations begin at 10:00 a.m. Here’s today’s lineup:

Time

The Attic

The Garage
10:05 Totum Wealth OCR Labs
10:25 Aerospike PwC
10:40 Coffee Break Coffee Break
11:10 BBVA Blend
11:30 ACI Worldwide Lleida.net
11:50 Exeria Smartwave
12:05 Lunch Lunch
1:00 WiseBanyan DefenseStorm
1:20 Sindeo Tango Card
1:40 Finaeos Wisdom Design Associates
2:00 Castle ABBYY
2:15 Coffee Break Coffee Break
2:45 Wootrader BankGuard
3:05 Digital Business Art Marqeta
The final networking session with open bar and appetizers will begin after the last demo and will go until to 5:00 p.m. to give you the opportunity to grab a drink and chat with presenters at their booths.
Thanks to everyone for a great first day of FinDEVr Silicon Valley 2016. We’re looking forward to a successful second day of the event!

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FinovateAsia Sneak Peek: Moneytree

FinovateAsia Sneak Peek: Moneytree
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, Moneytree

screen-shot-2016-10-17-at-4-17-31-pm

FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Drop-in Moneytree’s mobile SDK to easily connect its MT LINK aggregation platform to third-party products and services. Once exclusive to Mizuho Bank’s Direct app, the SDK will be widely available in November.

Features:

  • Brings a powerful data-aggregation platform to everyone
  • Easily integrates with new or existing services
  • Becomes the core of a user-centric data-portability platform for consumers and business

Why it’s great
Moneytree’s MT LINK platform brings efficient, cost-effective data portability to the masses. With MT LINK, consumers and business can easily choose the data they provide to platform partners.screen-shot-2016-10-17-at-4-41-13-pm

Presenters

Mark Makdad, Head of Platform
A graduate of University of Illinois, Urbana-Champaign, Makdad’s professional career began in Japan over a decade ago. Before co-founding Moneytree, he was the head of IT contract staffing at en world (Tokyo).
LinkedInscreen-shot-2016-10-17-at-4-42-21-pm

Zach Taub, Chief of Marketing
Originally from Chicago, Taub has spent most of his 20 years in Japan engaged in sales, business development, and marketing for global companies, including adidas Group, Ogilvy & Mather and Getty Images.
LinkedIn

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