HelloWallet’s New Feature is a Budget Within a Budget

HelloWallet’s New Feature is a Budget Within a Budget

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Goals-based saving tools have existed for quite some time, but what if the goal you’ve saved for isn’t just a one-time purchase? HelloWallet’s new feature, Flexible Budgets, launched this week to help users spend wisely over a longer time-period and to help plan for large, infrequent expenses.

The new tool is meant to be used in tandem with a regular monthly budget. Use cases include:

  • Track spending while on vacation
  • Plan for quarterly insurance payments
  • Track an annual clothing budget
  • Maintain a budget for a wedding (as someone who’s getting married in two weeks, I’m well aware of the importance of tracking expenses to make sure there’s enough left over to cut the final check for booze at the end of the reception!)

FlexibleBudget

This feature addresses a common complaint among budgeters who struggle with big-ticket, infrequent purchases. It essentially offers a way for users to set up a budget within a budget. The Flexible Budgets feature is now available in the HelloWallet app for iOS and will launch on Android later this year.

While the app would certainly come in handy as I finalize wedding expenditures, I won’t be able to use it any time soon. HelloWallet is only available as a B2B model aimed to help employers help their employees with financial health. The company’s current customers include: Salesforce, T. Rowe Price, Allstate, Vanguard, and more.

Matt Fellowes, founder of HelloWallet, gave a Best of Show-winning demonstration of Retirement Explorer at FinovateFall 2015. Retirement Explorer is a planning tool that allows users to model and save retirement scenarios. During the demo, Fellowes also announced it now allows banks to integrate HelloWallet’s financial wellness programs.

Two months ago, HelloWallet launched a savings and debt guidance tool to help users achieve their saving, spending, and debt-repayment goals. Founded in 2009, the company was purchased by Morningstar in 2014.

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

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Ethoca, a collaboration network for card issuers and merchants, landed a new client this week. The company has partnered with ACI Worldwide to integrate its flagship service, Ethoca Alerts, into ACI’s UP eCommerce Payments solution, making it globally available to payment service providers (PSPs).

Ethoca Alerts notifies PSPs, processors, acquirers and their merchant clients of issuer-confirmed fraud and customer-dispute data to help them bolster their existing fraud defenses. The protection against chargebacks passively takes place in the background. When a dispute occurs, Ethoca Alerts helps merchants resolve cardholder complaints before they go into the chargeback process and notifies them to stop the shipment of goods to fraudsters.

“Our integration with the ACI UP eCommerce Payments solution makes Ethoca Alerts easily available to more than 130 payment-service providers and thousands of their merchants,” says Ethoca CMO Keith Briscoe. “As we bring onboard more payment providers and top-tier merchants, the overall network effect increases. All participants, including Ethoca’s network of more than 545 card issuers, get more value by reducing fraud losses and eliminating more chargebacks.”

Toronto-based Ethoca was founded in 2005 and last presented at FinovateEurope 2016 in London. Earlier this year the company integrated Ethoca Alerts into the fraud-detection platform, Kount’s Kount Complete.

ACI Worldwide, which took the stage with MShift at FinovateFall 2011, powers electronic payments for more than 5,100 organizations, including 1,000+ financial institutions and intermediaries.

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

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Business-to-business analytics provider Cortera reached a milestone this summer. The Florida-based company yesterday announced it has expanded the Cortera Credit Exchange database.

The Cortera Credit Exchange gathers information on the purchase and payment behavior on more than 10 million U.S. businesses. Between January and July 2016, this database increased by more than $170 billion in B2B purchases. This brings the database’s total annual purchase insights to $1.2 trillion.

Cortera leverages the purchase data to create analytics such as new customer risk-assessments, customer portfolio risk-monitoring, supplier risk management, customer segmentation, insurance underwriting, customer profitability modeling, and loan-default prediction.

Regarding the company’s future plans, Cortera CEO Jim Swift said, “we will continue to expand our data network aggressively and leverage our innovative platform to help customers solve business problems in new ways. We’re excited about the path we’re on.”

Since it was founded in 1993, Cortera has expanded its database to include hundreds of attributes to help businesses create statistical modeling and other analytics. The company demoed at FinovateSpring 2010 and recently appointed Bob Maguire as chief revenue officer.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held 18/19 October in Santa Clara. Early bird tickets expire soon so register today to save your spot!

On FinDEVr.com

  • First Wave of FinDEVr Silicon Valley Presenters Revealed

The latest from FinDEVr New York 2016 presenters

  • NYMBUS Raises $12 Million in Round Led by Vensure  Enterprises
  • Braintree, Finicity, and Twilio Take Top Honors at API World Awards
  • Markit enhances WSO software suite to offer new levels of automation for syndicated loan market.

Alumni updates

  • National Bank of Kuwait goes live with Temenos Treasury Trader.
  • CardFlight to Power EMV Mobile Processing for BluePay
  • Trulioo announces enhancements to the global AML watchlist capabilities of its GlobalGateway platform.
  • Chain announces new partnership with Initiative for Cryptocurrency and Contracts (IC3).
  • Fintech News Switzerland highlights Currency Cloud in a look at London’s top rising fintech stars.

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

Actiance Hires Former Credit Suisse Exec as CTO

Actiance Hires Former Credit Suisse Exec as CTO

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Screen Shot 2016-08-15 at 5.03.07 PMSocial media compliance company Actiance today announced it has appointed Anthony West (pictured) as CTO.

Prior to accepting the new position, West worked at Credit Suisse for more than 20 years where he oversaw all communications, collaboration, and electronic communications-compliance infrastructure services. He is now regarded as an “enterprise collaboration technology strategist,” and specializes in real-time communications platforms.

Actiance also brought on Neil Senior as VP of customer success. Prior to joining Actiance, Senior held roles at AVID Technology, EMC Corporation, and RSA. In his new role, Senior is responsible for “overseeing all professional services and customer-support teams as well as expanding service offerings to meet customer needs.”

The new appointments come two months after the company brought on Naresh Bansal as CFO.

Last month Actiance launched support to help bank clients compliantly engage customers and employees on Instagram. Founded in 1998, the company last presented at FinovateFall 2012 where it debuted Socialite. Actiance has raised almost $44 million from 7 investors since launching in 1998.

FinovateFall Sneak Peek: Uniken

FinovateFall Sneak Peek: Uniken

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Uniken is a game-changing cybersecurity firm that makes connecting safe, simple, and scalable through a patented, relative-identity (REL-ID) and mutual authentication protocol (REL-IDverify). No VPN, SSL, or OTP required.

Features:

  • Seamless user experience for login, verification, and authentication
  • Multifactor authentication that’s behind-the-scenes and out-of-the-box
  • Significant reduction in attack surface (MITM, HEIST, etc.)

Why it’s great
Our innovative REL-IDverify product allows mobile, out-of-band authentication for any omnichannel transaction—all protected by the integrated REL-ID identity, authentication, and secure channel solution.

PresentersUnikenPresenter1

Bimal Gandhi, CEO
Gandhi has two decades of global experience across management consulting, technology, and financial services industries within the U.S., U.K. and India.
LinkedIn

UnikenPresenter2Robert Levine, Global VP Business Development
Levine is an established cyber security “insider” having built and exited two firms focused in the sub-field of identity and access management. He has 20 years of focused cyber-security experience.
LinkedIn

FinovateFall Sneak Peek: Featurespace

FinovateFall Sneak Peek: Featurespace

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Featurespace is the world leader in adaptive behavioral analytics delivered via ARIC Fraud Hub, a real-time, machine learning, fraud management system that understands individual behaviors.

Features:

  • Monitor real-time digital customer behavior across the end-to-end lifecycle
  • Improve fraud detection during onboarding, account activity, transactions
  • Increase revenue acceptance from genuine customers by 70%

Why it’s great
ARIC Fraud Manager’s new In-Session Behavior online monitoring enables financial institutions to protect their customers across the end-to-end lifecycle, while accepting more revenue.

FeaturespacePresnter1

Presenter: Matt Mills, Commercial Director
Mills is responsible for the commercial team at Featurespace. He is the former global head of partnerships and innovation at Aurasma, where he previously worked with Martina King (Featurespace CEO).

TransferWise Launches TransferWise for Business to the Public

TransferWise Launches TransferWise for Business to the Public

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Foreign currency-exchange platform TransferWise today announced it has released a new segment out of beta. The London-based company launched TransferWise for Business to the public, offering businesses access to international money transfers.

The beta test of the new offering began in May, just after the company closed a $26 million round. Since then, after working “closely with businesses to create a product that meets their needs,” TransferWise has helped business customers transfer more than $1.3 billion using the platform. According to the website: “Businesses can now use TransferWise to pay suppliers or employees overseas, request payments from customers, and transfer funds between their own accounts in different countries.”

Following its ethos, TransferWise does not charge businesses to sign up and there are no monthly fees. By leveraging the ability to transfer money within its network of banks, the company makes sending money abroad up to 7x cheaper than using a business bank account. For bulk overseas payments, TransferWise launched Mass Pay (not to be confused with Dwolla’s MassPay), a batch-payment solution that lets businesses send and track large numbers of payments. Mass Pay is available as an API or on the web interface, which allows for one-by-one or bulk file uploads via CSV.

TransferWise demoed at FinovateEurope 2013. The company, founded in 2010, now boasts 1 million customers and more than $116 million in funding.

FinovateFall Sneak Peek: BondIT

FinovateFall Sneak Peek: BondIT

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

BondIT drives fixed-income sales by empowering advisers with data-driven recommendations generated by machine-learning algorithms. It is proven to increase revenues and client satisfaction.

Features:

  • Create algo-optimized, personalized portfolios instantly
  • Rebalance and improve portfolios with various optimization targets: sharp, yield, or risk
  • View advanced analytics and set intelligent alerts

Why it’s great
Optimization solutions for equities can, for the first time, be applied to bonds. BondIT is your way to harness powerful machine-learning to boost your sales!

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Presenter: Eran Nachshon, Chief Operating Officer
Nachshon served seven years as an IDF computer officer and seven years at Barclays as a trader and technology project manager. He holds an MBA from New York University.
LinkedIn

FinovateFall Sneak Peek: RightCapital

FinovateFall Sneak Peek: RightCapital

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

RightCapital provides a Department of Labor, fiduciary-focused, financial planning solution that digitizes and redefines the financial planning experience for financial advisers and their clients.

Features:

  • Innovative and integrated financial planning and tax planning
  • Department of Labor, fiduciary-focused, solution
  • Significantly reduces time and cost of creating a plan and improves user experience.

Why it’s great
RightCapital is all about “financial planning done just right.”

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Presenter: Shuang Chen, CEO and Cofounder
Chen has more than 15 years of experience in investment and retirement. Prior to RightCapital, Chen was a senior vice president at Prudential Financial. Shuang mholds a masters in business administration and is a CFA, FisSA.
LinkedIn

FinovateFall Sneak Peek: iBank Marketing

FinovateFall Sneak Peek: iBank Marketing

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FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

iBank Marketing offers a new experience driven by combining financial/nonfinancial services to retail customers and new marketing opportunities to corporate customers.

Features:

  • Support to achieve savings via goal deposit function
  • Capture consumers’ behavior and identify customer preference
  • Create ecosystem with partners to develop and expand cross-industry business

Why it’s great
Covers the business cycle: identifies customer preferences; stimulates customer needs; provides financial support; and stimulates purchasing behavior.

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Kenichi Nagayoshi, CEO
Nagayoshi is CEO of iBank Marketing and has over a decade of experience in the corporate-planning division of a regional Japanese bank. In 2014, Nagayoshi established iBank Marketing to build a financial services platform.

Masato Kubota, Senior Manager

Teppei Fujiwara, Manager

CardFlight to Power EMV Mobile Processing for BluePay

CardFlight to Power EMV Mobile Processing for BluePay

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Mobile payment infrastructure startup CardFlight announced that it is collaborating with merchant account provider BluePay. Illinois-based BluePay will leverage CardFlight’s point-of-sale solution SwipeSimple to facilitate the launch of its EMV mobile processing offering.

CardFlight’s SwipeSimple mobile processing platform offers cloud-based inventory and item tracking as well as a reporting portal that helps companies manage their business. It also comes with an EMV chip reader to help merchants reduce card-fraud losses.

Tim Trench, BluePay’s EVP of product, said that the company selected SwipeSimple because it is the company’s “top priority to provide the most advanced payment-security methods to maintain trust and business.”

Headquartered in New York and founded in 2013, CardFlight’s SDK works with its hardware EMV and magstripe card-readers to help developers build card-present mobile payments into their own apps. At FinovateSpring 2013, CardFlight debuted its developer dashboard. The company showed off its SDK for mobile payments at the inaugural FinDEVr Silicon Valley in 2014. Tickets to this year’s FinDEVr developers conference are on sale now. Check out the event to learn more and register today.