Julie Muhn (@julieschicktanz), Author at Finovate

CBW Bank Launches ONE Card, Developed by Yantra

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: CBW Bank, FinovateSpring 2015

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

CBW Bank debuts a new payment tool, the ONE Card:

CBW Bank recently launched a new payment tool, ONE Card, to provide its customers access to a safe and convenient alternative to traditional bank accounts. Developed by Yantra Financial Technologies, the solution gives banks, program34 managers, and corporate clients access to a powerful and flexible platform, designed to support a wide range of product categories. including direct deposit, money transfers, and payroll. ONE Card account holders have access to all of the features and functionality of a traditional bank account. However, one key differentiator is that ONE Card does not require a credit check for approval, and users are able to send money to anyone in the United States, and soon internationally.

Presenters: Suresh Ramamurthi, chairman, and Randy San Nicolas, head of payments

HQ: Weir, Kansas

Founded: CBW Bank was founded in 1892, and acquired by its current owners in 2009

Website: cbwbank.com

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Finaeos Debuts Back Office and Capital Raise Compliance

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: Finaeos, FinovateSpring 2015

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

Finaeos debuted its compliance automation:

Finaeos Automates the Back-Office and Capital Raise Compliance.

• Private placement memorandums (full version control for legal and disclosure updates)
• Automated/fillable forms and workbooks
• Subscription documents and, when required, promissory note in debt offerings
• KYC “Know Your Customer”
• KYP “Know your Product” (tests for agents)
• AML “Anti Money Laundering” with specific considerations to BSA and the U.S. Patriot Act
• Digital signatures upon EDGAR termination with heightened consideration of website filing and modernization
• Mobile access with consideration of OCIE Cyber Security Initiative April 15, 2014: National Exam Program

Presenter: Tim Vasko, CEO and founder

Metrics: 42 employees between Canada, our self-owned India Corporation, and the United States; self-funded

HQ: Victoria, British Columbia, Canada
Founded: January 2015

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Credit Sesame Launches Co-branded Service

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: Credit Sesame, FinovateSpring 2015

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

Credit Sesame launched its Siri integration and co-branded offering:

Credit Sesame makes it easier than ever for consumers to access, monitor, and manage their credit and loans, and to protect their identity. Our latest innovation fully integrates our mobile technology with our award-winning web service, to bring the convenience of tracking finances and higher security to an increasing number of mobile users on the go. Through the first of its kind Siri integration in the financial services industry, mobile app users can simply ask Siri about their credit score and more, to check on the status of their credit and financial information with the tap of a thumbprint. It’s that easy.

Presenters: CEO Adrian Nazari and Jesse Levey, head of product

Product Launch: Mobile app: 22 Jan 2015; co-branded service: May 2015

Metrics: Money Raised: $44M; registered users: 5.5M; loans under management: $128B; employees: 50+
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, through other fintech companies and platforms

HQ: Mountain View, CA
Founded: January 2010
Website: creditsesame.com
Twitter: @CreditSesame

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Dream Payments Debuts its Future-proofed mPOS Solution

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: Dream Payments, FinovateSpring 2015

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

Dream Payments debuts its mobile point-of-sale solution:

Dream’s cloud-based payment platform combined with its mobile point-of-sale device allows merchants to accept credit and debit cards, access rich analytics and reports, and provide digital receipts to customers. Dream’s solutions are secure, EMV compliant, and accept Contactless and CHIP payment cards. The solution includes a free mobile app, payment terminal, and comprehensive web-based merchant portal enabling merchants to view their account profile and all transactions and manage settlements and debits. The mobile point-of-sale solution easily integrates with third-party applications extending the breadth and depth of the solution and leveraging existing technology investments.

Presenters: COO Anant Tailor and Christian Ali, VP of business development

Product Launch: H1 2015

Metrics: 20+ employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Toronto, Ontario, Canada
Founded: June 2014
Website: dreampayments.com
Twitter: @dreampayments

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Kofax Demonstrates its Mobile Capture Platform for Onboarding

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, Kofax

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

Kofax showed how its Mobile Capture Platform onboards customers in real time:

Kofax is demonstrating how its Mobile Capture Platform can onboard customers with the right product at the right time with the right risk-assessment profile in a completely automated fashion. The mobile account-opening solution incorporates mobile-image capture, authentication, workflow, real-time decisioning, product selection, and digital signature capture to “seal the deal.” Kofax’s platform combines the speed and convenience of mobile to enhance the user experience, with the security and confidentiality of a traditional branch experience. This is the only platform in the market that incorporates all of the critical components needed to make real-time, intelligent and risk-balanced decisions using a mobile device.

Presenters: Diane Morgan, senior business development manager, and Dimitri Snowden, solutions architect

Product Launch: January 2014

Metrics: Subsidiaries in 30 countries; 1,200 employees; 800+ channel partners; products available in 70+ countries; 20,000+ customers; NASDAQ & London Stock Exchange (KFX); $266.3M in revenue; $46.3M adjusted EBITA
Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Irvine, California
Founded: January 1985
Website: kofax.com
Twitter: @Kofax

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Vanguard Debuts Diversification Visualizer

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, Vanguard

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

Vanguard described its diversification tool:

“The Diversification Visualizer quantifies and visualizes mutual fund diversification in 3D to help investors build well-diversified investment portfolios.”

Presenters: John Buhl, principal, retail digital services, and Mike Padilla, senior manager, retail digital strategy

Website: vanguard.com

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Token Creates a Fast Payment Ecosystem

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, Token

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

Token showed its payment ecosystem that uses end-to-end secure protocols with digital signatures:

For the past 2,500 years, our payment rails have relied upon the use of shared secrets, such as passwords, account numbers, payment card numbers, and paper signatures. Shared secrets are the root cause of the never-ending security problems with payment cards, checks, and ACH. Tokenization is a band-aid, not a cure. The only real way to create a secure, fast payment ecosystem is to eliminate the use of all shared secrets by using end-to-end secure protocols with digital signatures. This has never been done before anywhere in the world. It is what sets Token apart from all other payment systems.

Presenters: CEO Steve Kirsch and CTO Yobie Benjamin

Product Launch: May 2015

Metrics: 10 employees; launching in May 2015 with a large public utility; over $50B in sales leads
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Palo Alto, California
Founded: January 2, 2015
Website: Token.io
Twitter: @token_io

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LendKey’s MarketPlace Creates Low-cost Lending Options

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, LendKey

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

LendKey debuted its MarketPlace that creates and manages online lending programs for banks:

Leveraging LendKey’s experience in building real-time loan-origination systems, the LendKey MarketPlace will empower consumers to browse, customize, compare and complete the entire loan-shopping process via a single interface. This represents a dramatic step forward from current consumer-loan marketplaces which collect consumer information, and may provide some pricing information, but eventually transfer the borrower elsewhere to complete and submit the loan.

Presentrts: Vince Passione, CEO and founder, and Strati Papageorge, chief product officer

Product Launch: June 2015

Metrics: LendKey’s online lending platform is used by over 300 credit unions and banks and has raised more than $750M in funding for loans to more than 35,000 borrowers. Our success to-date is due in great part to some key partnerships, including CUNA Strategic Services and Western Independent Bankers (as an endorsed service provider); numerous state credit-union leagues and bank associations, and consumer financial service providers like Intuit (Mint.com) and Credit Karma. LendKey raised $23.5M in equity from backers, including Draper Fisher Jurvetson, Updata Partners, and DFJ Gotham Ventures. We have more than 100 full time employees split between our New York City headquarters and an office in Cincinnati, Ohio.
Product distribution strategy: Direct to Consumer (B2C); Direct to Business (B2B)

HQ: New York City, New York
Founded: October 2007
Website: lendkey.com
Twitter: @LendKey

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Shoeboxed Receipt Capture Moves Beyond Paper Receipts

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, Shoeboxed

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

Shoeboxed showed its expansion into email receipts:

Receipt capture is becoming a standard banking feature: Taking pictures of receipts with a mobile phone that are then matched to the corresponding credit card transaction was just the beginning. We are expanding into pulling email receipts into online and mobile banking apps for people automatically, extracting the actual items people bought from e-receipts, and helping fraud protection.

Presenters: Tobi Walter, COO and co-founder, and Alex Anderson, business development manager

Product distribution strategy: Through financial institutions

HQ: Durham, North Carolina
Founded: May 2007
Website: shoeboxed.com
Twitter: @Shoeboxed

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Moven Drives Savings and Short-term Credit Using User Behavior

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, Moven

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

Moven showcased how it uses customer behavior to incentivize savings and short-term credit:

Moven is building real-time contextualized notifications and interactions that create gamified money moments. Today’s demonstration will debut a behaviorally based approach to driving savings and short-term credit. In addition Moven, in partnership with Accenture, will announce a number of additional global banking partners.

Presenters: CEO Brett King and Alexander Sion, Moven President

Product Launch: June 2015

Metrics: $12.5M raised in 2 rounds (Seed/A); 34 employees in New York City and Philadelphia; projected revenue of $5.5M (2015); 500,000 users in two countries (U.S.A./New Zealand)
Product distribution strategy: B2C in the U.S.; B2B2C internationally

HQ: New York City, New York
Founded: April 2011
Website: moven.com
Twitter: @getMoven

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itBit Debuts its Global Bitcoin Exchange

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015, itBit

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

Kicking off Day Two at FinovateSpring 2015 is itBit debuting its bitcoin trading platform:

itBit offers an institutional-grade exchange that is available to traders around the world. Our innovative platform, created for retail and institutional clients, adheres to the strictest levels of regulatory compliance. The exchange supports both REST API and the Financial Information Exchange (FIX) protocols to serve sophisticated traders.

Presenters: Bobby Cho, director, institutional client group, and Dara Orlando, senior director of marketing

Product Launch: November 2013

Metrics: 32 employees; thousands of customers around the world use the exchange, from large financial institutions to major bitcoin merchant processors to individual enthusiasts; to date, the company has raised more than $30+ million in funding.

HQ: New York City, New York
Founded: 2012
Website: itbit.com
Twitter: @itbit

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Dwolla Demos Bank-level Tokenization

By Julie Muhn (@julieschicktanz) Posted on May 12, 2015
Categories: Dwolla, FinovateSpring 2015

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

Dwolla showed how FiSync works with large financial institutions:

In this demo, attendees are getting an insider’s view into Dwolla’s real-time technology by witnessing some of the applications that have been built on the Dwolla platform. For example, Dwolla CEO, Ben Milne, will offer an overview of Dwolla’s unique approach to authentication and user discovery (through Dwolla’s directory technology) and walk through how these two features are currently being integrated into one of the world’s largest financial institutions and a growing number of application partners. The live bank-level tokenization model eliminates the threat of providing personal information (i.e. bank credentials or routing and account numbers) to a third-party or having to later tokenize the data downstream.

Presenters: Jordan Lampe, director of communications, and Chad Ballard, director, mobility and digital business technology, BBVA Compass

Metrics: $32.5M in funding; more than 70+ employees across 4 offices (San Francisco, DSM, Kansas City, New York City)
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Des Moines, Iowa
Founded: December 2008

Website: dwolla.com
Twitter: @dwolla

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Finovate Blog

Author: Julie Muhn (@julieschicktanz)

CBW Bank Launches ONE Card, Developed by Yantra

Finaeos Debuts Back Office and Capital Raise Compliance

Credit Sesame Launches Co-branded Service

Dream Payments Debuts its Future-proofed mPOS Solution

Kofax Demonstrates its Mobile Capture Platform for Onboarding

Vanguard Debuts Diversification Visualizer

Token Creates a Fast Payment Ecosystem

LendKey’s MarketPlace Creates Low-cost Lending Options

Shoeboxed Receipt Capture Moves Beyond Paper Receipts

Moven Drives Savings and Short-term Credit Using User Behavior

itBit Debuts its Global Bitcoin Exchange

Dwolla Demos Bank-level Tokenization