Author: Julie Muhn (@julieschicktanz)

LendKey’s MarketPlace Creates Low-cost Lending Options

LendKey’s MarketPlace Creates Low-cost Lending Options
By Julie Muhn (@julieschicktanz) Posted on
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

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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

Shoeboxed Receipt Capture Moves Beyond Paper Receipts
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, Shoeboxed

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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

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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

Moven Drives Savings and Short-term Credit Using User Behavior
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, Moven

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

MovenLogo2015Moven 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

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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

itBit Debuts its Global Bitcoin Exchange
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2015, itBit

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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

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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

Dwolla Demos Bank-level Tokenization
By Julie Muhn (@julieschicktanz) Posted on
Categories: Dwolla, FinovateSpring 2015

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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

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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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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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