Author: Julie Muhn (@julieschicktanz)

FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr APIntelligence, Gem, PayPal, Quisk

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on 29/30 March 2016. Super Early Bird tickets are on sale through this Friday, 15 January, so register today and save.

The latest news from FinDEVr San Francisco 2015 presenters

  • Network International plans UAE deployment of cashless, cardless payment technology developed by Quisk.
  • Gem raises $7 million in Series A.

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

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FinovateEurope Sneak Peek: Innofis

FinovateEurope Sneak Peek: Innofis
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, Innofis

InnoFISHomepage

FEU2016_logo_withdateA look at the companies demoing live to 1,500 fintech professionals. Register today.

Innofis is a fully digital banking platform which combines knowledge of customer behavior and context with predictive analytics and machine learning to provide highly personalized information and services.

Features of the platform:

  • Leverage digital banking platforms to build personal customer relationships
  • Delight customers with information and offers that are relevant for them
  • Monitor results and activity in real-time

Why it’s great

Innofis’s product solves the problem of banks risking the loss of digital customers by improving transaction-based digital banking platforms, with relationship-driven solutions.

InnofisPresenter1Presenters

David Moreno, CEO
Moreno has a successful career of 20+ years in the financial services industry. He founded Innofis in 2012 to realize his vision for banking innovation.
LinkedIn

David Falk, CMOInnofisPresenter2
Falk is an international marketing and sales professional with 20+ years of experience. At Innofis he is in charge of managing the growing global demand for its solutions.
LinkedIn

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BBVA Compass to Leverage BlackRock-owned FutureAdvisor

BBVA Compass to Leverage BlackRock-owned FutureAdvisor
By Julie Muhn (@julieschicktanz) Posted on
Categories: FutureAdvisor

FutureAdvisorHomepage1.12.16

Retirement and college savings robo-advisor, FutureAdvisor, announced its first major bank partner today.

The San Francisco-based company has partnered with BBVA Compass which will use FutureAdvisor to power a digital investment service for its clients.

The announcement comes five months after investment manager BlackRock acquired FutureAdvisor for an undisclosed amount, prompting the robo-advisor to change its customer-acquisition strategy from direct-to-consumer to business-to-business.

BBVA hopes the partnership will help it engage with millennial customers who aren’t currently using its investment services and are seeking a digital experience. As BBVA Compass Chairman and CEO Manolo Sánchez says, “The ultimate goal here is to help our clients take greater control of their finances so they can build bright futures.”

screenshot_ipad_retirement

BBVA clients, who will gain access to FutureAdvisor’s services later this year, can either link their external investment accounts and receive a customized investment plan, or they can opt for a managed portfolio in which assets are held through the bank’s broker-dealer affiliate, BBVA Compass Investment Solutions.

FutureAdvisor is not the first Finovate alum with which BBVA has formed ties. The bank, which has 672 branches across the U.S., acquired Simple in 2014, and partnered with Dwolla in the spring of 2015 to leverage the startup’s FiSync for real-time transfers.

Since launching its service in 2013, FutureAdvisor has managed more than $700 million in client investments. The company received the World Economic Forum’s Technology Pioneer award in 2015, and Euromoney’s Best American Wealth Management Innovator award in 2014.

FutureAdvisor CEO Bo Lu debuted its premium offering at FinovateFall 2013 in New York.

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FinovateEurope Sneak Peek: EyeVerify

FinovateEurope Sneak Peek: EyeVerify
By Julie Muhn (@julieschicktanz) Posted on
Categories: EyeVerify, FinovateEurope 2016, FinovateEurope 2016 Sneak Peek

EyeVerifyHomepageFEU2016_logo_withdateA look at the companies demoing live to 1,500 fintech professionals. Register today.

Unlock every opportunity with Eyeprint ID™ created by EyeVerify. One look opens mobile devices, logs you into apps and secures your mobile payments.

Features:

  • Convenient—authentication takes less than a second
  • Secure—more than 99.99% accurate
  • Private—biometric never leaves your device

Why it’s great
EyeVerify is convenient, secure and private.

EyeVerifyPresenterPresenter

Toby Rush, CEO
As founder and CEO of two mobile ventures, Rush’s expertise in imaging, sensors and mobility gives him early insight into trends and technologies that affect consumers and the enterprise.
LinkedIn

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Finovate Debuts: Alerts from Ethoca Foils Fraudsters

Finovate Debuts: Alerts from Ethoca Foils Fraudsters
By Julie Muhn (@julieschicktanz) Posted on
Categories: Ethoca, Finovate Debuts

EthocaHomepage

Card-not-present (CNP) fraud and chargebacks cost retailers and issuing banks billions of dollars and lost time. To mitigate these losses, Ethoca created a network to help both parties reduce fraud and customer-dispute losses.

At FinovateFall 2015, the company launched Ethoca Alerts, a platform that facilitates real-time communications about fraud and customer disputes. When card issuers confirm fraud with the cardholder, Ethoca sends an alert to the merchant within minutes or hours—instead of days or weeks—through the charge-back process. This allows merchants to stop fulfillment of fraudulent orders, avoid costly chargebacks, increase transaction acceptance and prevent further losses.

Company facts:

  • HQ: Toronto, Ontario, Canada
  • Founded: 2005
  • Network contains:
    • 44 global, direct card issuers
    • 500+ credit unions
    • 7 of top 10 U.S. banks
    • 2 of top 5 U.K. banks
    • 7 of top 10 U.S. ecommerce brands
    • 2,400+ merchants

The process

Card issuers have three methods to upload customer-dispute data and to confirm fraud:

  1. Upload manually (pictured below)
  2. Send files via Secure File Transfer Protocol (SFTP)
  3. Send files directly via Ethoca’s API

 

IssuerUploads

Ethoca sends fraud alerts to merchants via web portal notifications or through the issuer’s platform (if integrated via an API). After receiving the alert, the merchant issues a refund and stops the shipment, if possible. Next, the merchant reports the outcome to the issuer, who no longer needs to resort to the charge-back process.

The screenshot below shows the merchant portal where the retailer views the transaction details supplied by the card issuer and enters the outcome as seen in the yellow box.

MerchantOutcomes

Two major benefits for the issuing bank are worth highlighting:

  1. Issuers are able to recover write-off losses on low-value transactions which are typically not worth charging back.
  2. Issuer-liable 3D secure losses, which are usually not recoverable, can be reclaimed since the merchant can reverse fraudulent transactions.

What’s next

Ethoca is seeking to bring the solution across the globe to South America and Africa, as well as expand existing coverage in Asia-Pacific, Europe, and North America. The company currently has a partnership with Accertify, and is working to integrate with more fraud-solution platforms in the future.

Watch Julie Fergerson, SVP of industry solutions, and Steve Durney, SVP, issuer relations, as they debut Ethoca Alerts at FinovateFall 2015:

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FinovateEurope Sneak Peek: Nostrum Group

FinovateEurope Sneak Peek: Nostrum Group
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, Nostrum Group

NostrumGroupHomepage

FEU2016_logo_withdateA look at the companies demoing live to 1,500 fintech professionals. Register today.

 

Nostrum provides innovative automated loan-management software, working across a number of different consumer and commercial finance products, throughout the life cycle of a lender’s operations.

Features of Nostrum’s loan-management software:

  • Cheaper—customer self-service and automation reduces lenders’ operating costs
  • Faster—facilitating rapid introductions of new lending products
  • Safer—hosted in dual, high-availability data centers

Why it’s great
The Nostrum solution will dramatically improve lender profitability and increase customer loyalty and retention.

NostrumPresenter1Presenters

Richard Carter, Chief Executive
As CEO of Nostrum, Carter is passionate about pioneering technology. With more than 25 years of direct financial services experience, he is a respected thought-leader in the fintech industry.
LinkedIn

NostrumGrouppresenter3Tom Martin, Head of PMO
As Nostrum’s Head of Project Management, Martin is responsible for innovation and change delivery throughout the company to support its strategic goals.
LinkedIn

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FinovateEurope Sneak Peek: Lexmark

FinovateEurope Sneak Peek: Lexmark
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, Lexmark

LexmarkHomepage

FEU2016_logo_withdateA look at the companies demoing live to 1,500 fintech professionals. Register today.

Lexmark’s latest innovation in customer onboarding is a voice-driven, customer experience incorporating mobile capture, authentication, workflow, instant decisioning, and digital signature capture.

Features:

  • Fast and simple mobile onboarding
  • Convenience of voice-driven activation
  • Collaborative eSign video session

Why it’s great
Lexmark delivers a mobile onboarding experience driven by interactive and instructive natural voice recognition with a virtual collaboration session to eSign an application instantly.

LexmarkPresenter1Presenters

Darren Collins, Global Director, Financial Services and Insurance
Collins is responsible for strategy and providing thought leadership to global organizations in financial services. He assists organizations by mapping technical solutions to key business problems.
LinkedIn

LexmarkPresenter2Chris Edgington, Global Industry Solutions, Financial Services
Edgington provides industry knowledge, thought leadership and operations-technology expertise for banking industry-specific solutions.
LinkedIn

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Mambu Pulls in $8.7 Million to Replace Core Banking

Mambu Pulls in $8.7 Million to Replace Core Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Mambu

MambuHomepage

Mambu, creator of a cloud-based SaaS banking platform, raised $8.7 million (€8 million) this week. Combined with the $1.5 million the company picked up in February 2013, its funding now tops $10.6 million.

The round was led by Acton Capital Partners and CommerzVentures; existing investors also contributed.

Mambu CEO Eugene Danilkis speaks to the purpose of the new investment:

We are building out the product and onboarding customers in multiple geographies. We are excited that this new capital will allow us to deploy faster, and to better support our global client base as we continue to enable the next generation of banking service providers.

In more specific terms, Mambu plans to use the funds to:

  • Expand its commercial team
  • Increase investment into the platform
  • Open additional offices to support growth in Asia and the Americas

The Berlin-based company showcased its core banking application at FinovateAsia 2013, highlighting its holistic approach that helps banks of any size create and service loan and deposit products. Founded in 2011, Mambu seeks to replace core banking by offering faster access to technology at a lower cost.

Over the past year, Mambu has added 30+ new customers and has added support for P2P and SME lending methods.

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Finovate’s 2015 Best of Show Winners Give Something to Tweet About

Finovate’s 2015 Best of Show Winners Give Something to Tweet About
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alpha Payments Cloud, Avoka, Blockstack.io, CoinJar, Dyme, Dynamics, ebankIT, eToro, Finanteq, Hedgeable, HelloWallet, Jumio, mBank & i3D, Meniga, Money Amigo, Moven, NAMU Systems, SaleMove, Shoeboxed, Soundpays, Stratos

BestofShowIMG

2015 was quite a year for the 800+ Finovate alumni. From acquisitions to IPOs, and everything in between, there was plenty to tweet about. Here are the highlights from the 2015 Best of Show winners:

FinovateEurope 2015

Avoka demoed a three-minute loan application that delivers a fast onboarding experience.

CoinJar showed a technology that enables consumers to buy, sell, and use digital and traditional forms of currency any way they choose, from dollars to bitcoins.

ebankIT demoed its omnichannel and social banking solution that maximizes interaction between FIs and clients.

eToro showed its innovations in social trading and investing for generation Y.

Jumio demoed credentials-management technology Netverify that turns mobile devices into ID document-scanning terminals.

mBank & i3D demoed their interactive, digital retail-branch concept.

Meniga showed off Market Match, its transaction-data analytics and enrichment engine.

FinovateSpring 2015

Alpha Payments Cloud demoed AlphaHub, its omnichannel access platform that helps banks, merchants, MSPs, and ISOs gain access to any solution provider in the world.

Avoka (see above)

Money Amigo showed technology that brings financial services to the underbanked and underserved, delivering traditional banking products in an innovative way.

Moven launched Moven Financial Health Platform that provides real-time contextualized notifications and interactions that create “gamified money moments.”

NAMU Systems demoed “Joyful Banking” which uses new and intelligent behavior modeling to focus on customer behavior and digital experiences to create a new standard in mobile banking.

Shoeboxed.com showcased its Receipt Capture for Banks, a solution that boosts functionality of online and mobile banking apps while providing fraud protection.

Stratos demonstrated its dynamic Stratos Bluetooth-connected card and digital card issuance platform that analyzes card-usage trends and interactively engages card members.


FinovateFall 2015

Blockstack.io launched technology that enables financial services and other enterprises to set up and build applications on a private, hosted blockchain.

Dyme showcased its innovative method for helping people start a savings habit and fund their lifestyle using text messaging.

Dynamics demoed fully programmable interfaces (stripe, EMV, NFC) for use in next-generation payment cards.

Finanteq launched its SuperWallet that helps banks take full advantage of their potential by integrating m-commerce and remote services with mobile banking.

Hedgeable: demoed its private banking platform for millennials.

HelloWallet showed its Retirement Explorer solution, an approachable and actionable online planning tool that helps employees model and work toward specific retirement outcomes.

SaleMove demoed its Engagement Platform and Omnicall technologies that enable online consumers to engage live with businesses as if they were face-to-face.

Soundpays showed its app that recognizes ultrasonic and sonic waveforms even in extremely noisy environments.

Want to see more award-winning demos of the newest fintech ideas? Pick up your ticket FinovateEurope 2016 and we’ll see you in London.

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CUneXus Raises $1 Million, Signs Partnership with Edmunds.com

CUneXus Raises $1 Million, Signs Partnership with Edmunds.com
By Julie Muhn (@julieschicktanz) Posted on
Categories: CUneXus, Funding

CUneXusHomepage

EdmondsHomepageCUneXus, developer of sales and marketing technologies for lenders, raised $1 million in new equity funding from an unnamed strategic partner. Combined with a 2013 seed round, the company’s total funding stands at $1.7 million.

The California-based company plans to use the funding to support a number of initiatives, including a product launch with newly signed partner, Edmunds.com, an online resource for car buyers and sellers.

While the details of the project are still under wraps, CUneXus plans to unveil the new product this spring.

At FinovateSpring 2014, CUneXus debuted cplXpress, a suite of lending-automation tools that offer perpetual, pre-approved loan offers across multiple products. With cplXpress, financial institutions send customers personalized offers via the channel that best fits their preferred communication method.

CUneXusProducts

A recent case study from Harland Clarke cited a credit union that achieved 700%+ ROI during a nine-week campaign using technology powered by cplXpress. The 36,000 members responded at a rate of 2.5%, more than 2x the typical rate, and booked loans at a rate of 2.2%. At the end of the nine-week period, the credit union grew loan balances by $6.2 million.

In October 2015, CUneXus partnered with Digital Insight and will leverage the partnership to resell CUneXus’ cplXpress to its financial institution customers.

CplXpress integrates with a number of financial technologies, including those offered by FIS, Digital Insight, D+H, MeridianLink and more.

CUneXus unveiled new online and mobile interfaces, mobile document delivery, e-signature, and point-of-sale lending capabilities at FinovateSpring 2015 in San Jose. The company is based in Santa Rosa, Calif., and Dave Buerger is CEO.

 

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr APIntelligence, InComm, PayPal, Venmo

FinDEVr2016-NY-(Stacked)V2Are you building new financial technology? Be sure to check out coverage from our recent developer conference in San Francisco. We’re taking the fintech developer tool showcase to New York on 29/30 March 2016. Stay tuned for details.

The latest from FinDEVr San Francisco 2015 presenters

  • Fortune: How Venmo plans to make money.
  • PayPal and Aramex partner to create www.ishoptheworld.com, a one-stop cross-border marketplace.

Alumni updates

  • InComm acquires TibiDono, Austria-based marketing and gift card distribution company.

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

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Moven Launches Offers with Four Merchant Partners

Moven Launches Offers with Four Merchant Partners
By Julie Muhn (@julieschicktanz) Posted on
Categories: Moven

MovenHomepage

Need another excuse to spend money now that the holiday season is over? Neobank Moven is giving cardholders incentive to use their prepaid cards with a new offers program.

The New York-based company has partnered with four companies to extend deals:

MOvenOffersEmail

Since the offers allow customers to pay using any card they’d like, Moven is offering a cash back incentive. The startup is giving customers $10 if they spend $150 or more on the offers in a month.

Moven hints at more merchant partners coming soon, stating, “Keep a lookout for more offers like these in the New Year, this is just the beginning.”

Also this week, the company released updates for its iOS app:

  • Auto-login, enabling users to see balance and spending at a glance
  • TouchID
  • Free P2P money transfers to other Moven users
  • Ability to change categories from the notification on the lock screen

Moven was founded in 2011 by CEO Brett King. The company debuted its Financial Health platform at FinovateSpring 2015 in San Jose.

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