Julie Muhn (@julieschicktanz), Author at Finovate

Finicity Launches TxPUSH API

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

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

Finicity 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

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

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

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

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

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

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

Dynamics 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

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

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SmartAsset Gives Users Tools to Navigate Complex Financial Situations

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

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

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

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

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

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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Yodlee Launches Recommendations Engine that Uses Behavioral Psychology

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

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

Yodlee showed off how it is using behavioral psychology and data to personalize recommendations and advice:

At Yodlee, we believe there is massive potential to change and shape financial habits and behaviors leveraging data, analytics, & progressive engagement to encourage good behaviors – making it easier to say yes (to saving) than no. Our newest innovation embraces behavioral psychology & data clustering to automate chores, make personalized recommendations & provide actionable advice.

Research demonstrates that feelings matter when it comes to selling financial products, so helping people feel good about their finances & meet their personal goals means expansive value to financial providers. Yodlee’s latest innovation capitalizes on key data-driven insights to fundamentally change the digital banking experience.”

Presenters: Katy Gibson, VP, product applications; John Bird, VP, product marketing; David Lee, chief marketing officer

Product Launch: May 2015

Metrics: Yodlee (Nasdaq: YDLE) is a global financial technology leader with 800+ customers, 64 issued U.S. patents, millions of users, and more than 900 employees worldwide.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other companies

HQ: Redwood City, California
Founded: February 1999
Website: yodlee.com
Twitter: @yodlee

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Karmic Labs Launches Dash to Give Employees Access to Corporate Funds

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

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

Karmic Labs debuted Dash:

Through a single app, Dash allows employees of companies and organizations to dynamically gain access to corporate funds through various mechanisms configured to the entity. Dash also handles all expense management at no cost and in real-time, so no more time delays or need for third-party solutions. The API-based Dash marketplace also enables additional financial services. The service functionality is available directly to businesses via Dash, as well as through participating financial institutions via a partner of Karmic Labs.

Presenters of the Dash app: Ryan Weidenmiller, CEO; Chris Agerton, CTO; Troy Land, emerging commerce, FIS

Product Launch: Limited beta, December 2014; open beta, April 2015

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

HQ: San Francisco, California
Founded: January 2014
Website: getdash.io
Twitter: @getdashnews

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Stratos’ Bluetooth Connected Card Digitizes the Card Issuance System

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

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

Stratos debuted its digital card issuance platform:

Stratos is reinventing your wallet and cards like the iPod and iTunes reinvented your CD collection. Stratos consolidates your debit, credit, loyalty and gift cards into one dynamic card. Stratos Card works in conjunction with Stratos Digital Card Issuance Platform which will debut virtual card issuance, allowing cards to be downloaded instantly, digitizing the physical fulfillment system that issues billions of cards in the U.S. The platform analyzes card-usage trends and interactively engages card members. Stratos works with the mobile lockscreen, making real-time location or history-based suggestions, and offers patented security card-lockdown and insights for a superior customer experience. Its dual stripe technology ensures 100% compatibility with existing card-acceptance infrastructure.

Presenters: Co-founders Thiago Olson, CEO; Henry Balanon, CTO

Product Launch: The Stratos Card began shipping to consumers in April 2015; however, the Stratos Digital Card Issuance Platform is being announced and demonstrated for the first time at FinovateSpring 2015.

Metrics: Stratos has raised over $7M in funding to-date. The company has more than 50 employees, contractors, consultants and overseas manufacturing teams.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)

HQ: Ann Arbor, Michigan
Founded: 2012
Website: stratoscard.com
Twitter: @StratosCard

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Ondot Systems’ CardConnect Enables Consumers and Banks to Converse in Real Time

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

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

Ondot Systems launches its CardConnect solution:

CardConnect utilizes the smartphone app and location, and transaction context, to establish an instant communication channel enabling financial institutions and consumers to converse in real-time.

• Card Issuers can notify at-risk cards to consumers and set higher level of controls
• Card Issuers can request consumers to confirm any transaction in real-time
• Consumers can initiate transaction disputes from their mobile device
• Consumers can set travel notifications, and card issuers can automatically update notifications using location tracking on consumers’ phones
• Consumers can rate transactions, and card issuers can use aggregate ratings to create personalized contextual offers

Presenter of the CardConnect solution: Vaduvur Bharghavan, CEO, Ondot

Product Launch: May 2015

Product distribution strategy: Through financial institutions

HQ: San Jose, California
Product Demoed: CardConnect
Website: ondotsystems.com

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Mitek Showcases New Mobile Photo Account Opening Capabilities

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

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

Mitek showcased its guaranteed ID authenticity validation technology:

Mitek is showing how to improve funnel metrics and double the number of accounts booked with Mobile Photo Account Opening for Mobile Web. Then we’ll showcase our new, instant, and guaranteed ID-authenticity-validation technology, which is a key to the future of mobile identity proofing.

Presenters: Michael Nelson, VP, business development; Sarah Clark, VP, product

Product Launch: Georgia, fall 2015

Metrics: Our technology is used by more than 47M users of 3,300 banks. Mitek has 60+ employees; 8,186 average web sessions per month; 2014 revenue of $19M.
Product distribution strategy: Direct to Business (B2B), through fintech companies and platforms

HQ: San Diego, California
Founded: January 1985
Website: miteksystems.com
Twitter: @MitekSystems

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MoneyAmigo Delivers Traditional Banking Products in a Non-Traditional Way

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

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

MoneyAmigo showed how its serves underserved markets:

MoneyAmigo fuses a simple user experience with innovative and sophisticated “in-chat” peer-to-peer payments – crossing any boarder in 3 clicks, 3 seconds. By providing basic banking functionality—bank account, debit card, bill payment and direct deposit—for free, along with an innovative peer-to-peer payment platform, MoneyAmigo provides financial control for those who are un/underbanked. MoneyAmigo breaks the rules of traditional banking by providing users an easy-to-understand, interactive app to manage their money needs in a straightforward and respectful manner. MoneyAmigo makes managing money fast, fair and friendly.

MoneyAmigo presenter: Founder Kim Norland, CEO

Product Launch: May 2015

Metrics: $300,000 raised; 7-person dedicated team, lead by Kim Norland. Team part of design:success—international innovation firm.
Product distribution strategy: Direct to Consumer (B2C), licensed

HQ: Las Vegas, Nevada
Founded: January 2015
Website: moneyamigo.com
Twitter: @moneyamigo

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3E Software’s Teslar Creates Efficiencies in Lending and Credit Management

By Julie Muhn (@julieschicktanz) Posted on May 12, 2015
Categories: 3E Software, FinovateSpring 2015

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

3E Software debuted Teslar, a product that fosters efficiency for financial institutions:

Teslar is a revolutionary lending and credit management Software-as-a-Service solution that empowers bankers to be more efficient and effective by giving them a cradle-to-grave platform. With its ability to help in almost all facets of lending, from pipeline and call activity to loan review, there is little that Teslar can’t do.

Teslar presenters: Joe Ehrhardt, 3E president, CEO; David Ankeny, VP software development

Product Launch: December 2008

Metrics: Self-funded and boot-strapped with $2,000 in capital; 100% employee-owned; 5-year annual average revenue growth rate over 150%
Product distribution strategy: Direct to Business (B2B)

HQ: Fayetteville, Arkansas
Founded: July 2008
Website: 3esoftware.com

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Finovate Blog

Author: Julie Muhn (@julieschicktanz)

Finicity Launches TxPUSH API

Avoka Demonstrates a Credit Card Application that Reduces Abandonment

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

SmartAsset Gives Users Tools to Navigate Complex Financial Situations

DRAFT Uses Crowdsourcing to Analyze Investment Strategy

Yodlee Launches Recommendations Engine that Uses Behavioral Psychology

Karmic Labs Launches Dash to Give Employees Access to Corporate Funds

Stratos’ Bluetooth Connected Card Digitizes the Card Issuance System

Ondot Systems’ CardConnect Enables Consumers and Banks to Converse in Real Time

Mitek Showcases New Mobile Photo Account Opening Capabilities

MoneyAmigo Delivers Traditional Banking Products in a Non-Traditional Way

3E Software’s Teslar Creates Efficiencies in Lending and Credit Management