Author: Julie Muhn (@julieschicktanz)

With SayPay, Consumers Speak a Code to Pay Bills

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, SayPay

This post is part of our live coverage of FinovateSpring 2015.

SayPayLogoSayPay announced a partnership with VoiceVault and introduced its bill pay and secure web sign-in:

When billers include a one-time “SayPay code” on their bills, customers simply speak the code into their mobile banking app without needing to sign in! SayPay biometrically authenticates the customer’s voice, matches the code to the bill, and displays the bill details. Upon review, the customer simply presses “Pay.” SayPay also works for ecommerce checkout, website sign in, P2P payments, step-up authentication, and more. The SayPay code is cryptographically calculated so it can’t be predicted, replicated, reused, or replayed. Further, SayPay uses out-of-band and three-factor authentication and never provides sensitive financial information.

Presenters: Steve Hoffman, CEO and founder; Julia Webb, technology consultant

Product Launch: May 2015

Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Pleasanton, California
Founded: February 2014
Website: saypaytechnologies.com
Twitter: @saypaytech

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Kabbage Launches the Kabbage Card

Kabbage Launches the Kabbage Card
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, Kabbage

This post is part of our live coverage of FinovateSpring 2015.

KabbageLogo2015Kabbage showed how its Kabbage Card enables small businesses to carry a line of credit in their pocket.

Kabbage is introducing the Kabbage Card, the company’s first tangible product that allows small businesses to carry their Kabbage credit line in their pocket to pay for inventory, office supplies, and anything needed to keep a business running. Kabbage customers will gain immediate access to their Kabbage loan without having to transfer funds into their PayPal or business checking account. Swiping their Kabbage Card will immediately deduct the transaction amount from the customer’s available funds. In addition, customers will immediately have access to view all transactions within their Kabbage account, as well as receive transaction confirmation via SMS text. This new initiative is part of a broader “Kabbage Everywhere” product expansion that includes the ability to sign up through a mobile-responsive site, access funds through mobile devices, and take 12-month loans in addition to the traditional 6-month loans.

Presenters: Michelle Sirpak, director of payment operations; Jason Dell, head of product

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Product Launch: May 2015

Metrics: Approximately 170 employees, $106M in equity raised
Product distribution strategy: Direct to Business (B2B)

HQ: Atlanta, Georgia
Founded: February 2009
Website: kabbage.com
Twitter: @kabbageinc

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Whodini Uses Beacons to Help Merchants Engage with Customers

Whodini Uses Beacons to Help Merchants Engage with Customers
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, Whodini

This post is part of our live coverage of FinovateSpring 2015.

Whodini LogoWhodini showed off its BLE Beacon and mobile app for customers and merchants:

It’s all about the “Who” in Whodini! Merchants open the Whodini box, peel and stick the Whodini beacon on a wall, set up their online and mobile accounts in five minutes, and they are live and operating. Whodini will demo the magical “Know Your Customer” service. Consumers download the Whodini app and create their customer profile, in return for a modest in-store reward. Afterwards, each time that a customer walks through the door, merchants and employees instantly see the customer’s unique profile. We do this all with BLE beacons, our merchant app, our consumer app, and our SaaS service.

Presenters: Brian Lawe, CEO; David Schachne, executive VP

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Product Launch: May 2015

Metrics: Whodini has a solid history of running marketing services for 20,000+ SMB merchants. The new Whodini service is its biggest and most exciting service launch in 10 years. Whodini is in live pilot, in use by consumers, and provides three integrated-marketing services for merchants. Within the last year, the company tripled its employee base, added executive talent, raised over $500k and is now ready to expand Whodini across the U.S.

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Westport, Connecticut
Founded: September 2004
Website: whodini.net

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Currency Cloud Launches Payment Engine to Simplify International Payments

By Julie Muhn (@julieschicktanz) Posted on
Categories: Currency Cloud, FinovateSpring 2015

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This post is part of our live coverage of FinovateSpring 2015.

Currency Cloud debuted its Payment Engine Two with enhanced API:

Currency Cloud Payment Engine is built by developers, with developers in mind. By building a sophisticated payment engine, we have taken the complexity out of international payments both for our clients, who are developing game-changing services on top of the Payment Engine, and for our clients’ customers.

Payment Engine Two presenters: Todd Latham, VP marketing; Rachel Nienaber, VP engineering

Product Launch: May 2015

Metrics: Money raised: $18M series A & B; processed over $10B in payments; 80 employees; 150,000 end users; 120 direct platform clients; website traffic: more than 10,000 visitors a month
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: London, England, United Kingdom
Founded: January 2012
Product Demoed: Payment Engine Two with our newly enhanced API
Website: currencycloud.com
Twitter: @currency_cloud

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Cloud Lending Solutions Launches CL Exchange

Cloud Lending Solutions Launches CL Exchange
By Julie Muhn (@julieschicktanz) Posted on
Categories: Cloud Lending, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Cloud Lending SolutionsCloudLendingLogo debuted CL Exchange, a lending solution built natively on Salesforce.com:

Imagine Lending Club, Prosper, and other leading online lenders exchanging consumer or business loan applications within a global exchange. This CL Exchange is where business and consumer loan applications are exchanged among participating online marketplaces and lenders so that they can source the best possible loans for each company’s portfolio.

CL Exchange presenter: Snehal Fulzele, CEO, co-founder

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Product Launch: May 2015

Metrics: Money raised to date: $2.25M pre-series A funding; annual sales growth: 250%; number of customers: 58; global footprint: deployed in 18 countries worldwide; number of employees: 55
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: San Mateo, California
Founded: November 2012
Website: cloudlendinginc.com
Twitter: @cloudlending

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WealthForge Launches Invest Button

WealthForge Launches Invest Button
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, WealthForge

This post is part of our live coverage of FinovateSpring 2015.

WealthForge_logo_FS15_200pxWealthForge debuted its Invest Button:

With our Invest Button, issuers and intermediaries now have a technology-enabled, turnkey solution to outsource back-office tasks to complete a private securities transaction. This full-featured platform provides everything needed from beginning to end to process the transaction, including compliance, escrow management, reporting and more.

Invest Button presenters: Arthur Weissman, head of sales and marketing; Mat Dellorso, co-founder

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Product distribution strategy: Direct to Business (B2B)

HQ: Richmond, Virginia
Founded: 2011
Website: wealthforge.com
Twitter: @wealthforge

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Dealstruck Debuts Line of Credit Borrower Portal

Dealstruck Debuts Line of Credit Borrower Portal
By Julie Muhn (@julieschicktanz) Posted on
Categories: Dealstruck, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

DealstruckLogo2015 Dealstruck launched a portal that helps borrowers manage their line of credit:

Dealstruck is debuting its new Line of Credit Borrower Portal, which allows its borrowers to seamlessly manage their revolving credit with Dealstruck. Borrowers can see their current balance and amount available for draw, update their borrowing base by linking their QuickBooks-based invoices, reconcile check payments that have been received to pay down the outstanding balance, and make other adjustments to their accounts.

Presenters: Ethan Senturia, CEO and co-founder; Russell McLoughlin, CTO and co-founder

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Product Launch: May 2015 at FinovateSpring 2015

Metrics: Dealstruck has a team of 40 and has lent $50M. Dealstruck raised a total of $4.5M seed round in 2013 and $8.5M in a Series A round March 2015, led by Trinity Ventures.
Product distribution strategy: Direct to Business (B2B)

HQ: Carlsbad, California
Founded: June 2012
Website: dealstruck.com
Twitter: @dealstruck

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Finicity Launches TxPUSH API

Finicity Launches TxPUSH API
By Julie Muhn (@julieschicktanz) Posted on
Categories: Finicity, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

FS2015_Finicity_logoFinicity debuted its TxPUSH API:

Finicity Data Services is announcing the TxPUSH API for Fintech Apps. App developers using the Finicity API Platform will be able to receive account and transaction data the instant we receive it from all connected FIs.

TxPUSH presenters: Nick Thomas, finicity president; Steve Smith, CEO

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Product Launch: June 2015

Metrics: 220 employees; offices in Salt Lake City, Atlanta, and Mumbai. Privately held and funded. Finicity Data Services launched in September 2014 and is a division of Finicity Corporation. In March 2015, after only six months of operation, Finicity Data Services hit 100 signed fintech brand customers building apps on its API.
Product distribution strategy: Direct to Business (B2B)

HQ: Salt Lake City, Utah
Founded: October 1999
Website: finicity.com
Twitter: @finicity

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Avoka Demonstrates a Credit Card Application that Reduces Abandonment

Avoka Demonstrates a Credit Card Application that Reduces Abandonment
By Julie Muhn (@julieschicktanz) Posted on
Categories: Avoka, FinovateSpring 2015

AvokaLogo

This post is part of our live coverage of FinovateSpring 2015.

Avoka demonstrated its fast credit card application:

Product and pricing are not differentiators in financial services, but customer experience is. Each additional step in the credit card application process results in higher abandonment and fewer converted customers. Avoka has increased a 36% conversion rate to 51% in just four weeks by focusing on delivering a frictionless customer experience. We are demonstrating combining social, cloud services, and crowd-sourcing into the world’s fastest credit card application. We’ll minimize customer effort and deliver measurably higher levels of account conversion. Because online, seconds matter.

Avoka presenters: Derek Corcoran, chief experience officer; Jeff Kalicki, senior account executive

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Product Launch: February 2013

Metrics: Privately held company with 80+ employees globally
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms

HQ: Broomfield, Colorado
Founded: 2002
Website: avoka.com
Twitter: @avokatech

 

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Dynamics Teams Up with MasterCard to Launch a New Level of Card Authentication

Dynamics Teams Up with MasterCard to Launch a New Level of Card Authentication
By Julie Muhn (@julieschicktanz) Posted on
Categories: Dynamics, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

DynamicsLogo2015Dynamics presented its new authentication system that eradicates card compromise, skimming and other fraud:

Dynamics produces and manufactures intelligent, powered cards such as advanced payment cards. The company’s commercial applications are the world’s first fully card-programmable payment interfaces (stripe, EMV, NFC) for use in next-generation payment cards.

Presenters: Jeff Mullen, CEO and founder of Dynamics; Pete Kaulbach, senior business leader of global consumer products for MasterCard

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HQ: Cheswick, Pennsylvania
Founded: 2007
Website: dynamicsinc.com

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SmartAsset Gives Users Tools to Navigate Complex Financial Situations

SmartAsset Gives Users Tools to Navigate Complex Financial Situations
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, SmartAsset

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This post is part of our live coverage of FinovateSpring 2015.

SmartAsset showed how it helps users understand complex financial information:

We’ve launched a revamped version of our site that allows the user to navigate through our tools more easily and bring an increased layer of transparency to our recommendations. The new format provides a simpler, more intuitive understanding of how the complex financial decisions users are about to make will impact their finances and lives.

Presenters: Michael Carvin, CEO and founder; Chris Spadafino, VP of sales

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Metrics: SmartAsset has raised over $7M and is backed by investors including Y Combinator, Javelin Venture Partners, North Bridge Venture Partners, Quotidian Ventures, Peterson Ventures and more.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)

Twitter: @SmartAsset
Website: smartasset.com

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DRAFT Uses Crowdsourcing to Analyze Investment Strategy

DRAFT Uses Crowdsourcing to Analyze Investment Strategy
By Julie Muhn (@julieschicktanz) Posted on
Categories: DRAFT, FinovateSpring 2015

DraftLogo

This post is part of our live coverage of FinovateSpring 2015.

DRAFT showcased its mobile investment analysis tool:

Draft is a crowdsourced investment analysis tool that changes the way people view, think and act when it comes to their long-term investment strategy. DRAFT connects directly to a user’s various bank and investment accounts to show them how the performance, asset allocation, and annual fees of their portfolio compares to that of top performers in their category. Through a simple side-by-side comparison, the user can quickly find opportunities to fill allocation gaps and lower fees. DRAFT makes it easy for users to switch to a better long-term strategy through its strategic online investment partners.

Presenters: Co-founders Brad Lawler, president; Jason St Peter, CEO

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Product Launch: May 2015

Metrics: $650,000 Seed round; 10 employees; pre revenue, 4,000 and growing user waitlist
Product distribution strategy: Direct to Consumer (B2C)

HQ: Austin, Texas
Founded: October 2014
Website: draftapp.com
Twitter: @draftinvest

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