Author: Julie Muhn (@julieschicktanz)

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Acculynk, Arxan Technologies, Betterment, Buzz Points, Capriza, Coinbase, CurrencyTransfer, FIS, Hedgeable, Kasasa, Klarna, LoanNow, Nostrum Group, Nymi, On Deck Capital, Payoneer, Pindrop Security, Quisk, Silanis Technology, Slice, Sliced Investing, Soundpays, Trustly, Wealthfront, ZenPayroll, Zopa

On Finovate.com

  • “Finovate Debuts: Slice Introduces Intelligent Shopping API”
  • “Arxan Technologies Drafts Joe Sander as CEO”

Around the web

  • Kasasa reaches milestone: 300+ community FIs now offer Kasasa to members, a total of 823,000 accounts.
  • NY Times lists Betterment, Coinbase, Wealthfront, ZenPayroll as companies that may be the next startup unicorns.
  • Crowdfund Insider: Zopa tops £1 million in loans, a U.K. first for peer-to-peer lending.
  • Global News interviews Karl Martin, Nymi CEO and founder.
  • Trustly bolsters team with appointments from H&M and Klarna.
  • FIS launches financial inclusion lab in India.
  • SME Insider interviews CurrencyTransfer.com‘s CEO Daniel Abrahams.
  • Silanis to deploy eSignLive technology with TransGuard and Occidental Fire & Casualty.
  • Puerto Rico-based Evertec to enable mobile e-commerce courtesy of Acculynk’s PaySecure.
  • Payoneer wins contract with Dailymotion.
  • NPR interviews Pindrop Security‘s CEO Vijay Balasubramaniyan.
  • Selling Power ranks OnDeck 17 out of 50 on its list of 2015 Best Companies to Sell For.
  • Nostrum Group receives FCA authorization for debt administration to cover its involvement in customer loan accounts and debt collection.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Debuts: How DRAFT Offers Transparency into Investment Performance

Finovate Debuts: How DRAFT Offers Transparency into Investment Performance
By Julie Muhn (@julieschicktanz) Posted on
Categories: DRAFT, Finovate Debuts

DRAFTHomepage2

For average investors, understanding asset allocation, fees, and risk is cumbersome; but ignorance can be costly. DRAFT seeks to change that by offering a transparent, read-only view of existing investment funds. Its mobile app crowdsources data from other investors to empower users to make better decisions by better understanding their accounts.

DRAFTPerformanceOverviewDraft facts:

  • Raised $1 million seed funding
  • 10 employees
  • Waitlist of 9,000
  • Headquartered in Austin, Texas
  • Founded 2014

DRAFT’s mobile app targets millennials with $100,000 to $1 million to invest and are underserved by traditional financial advisers.

After connecting to bank and investment accounts, the overview screen compares their risk profile and equity positions against top-performing accounts (pictured right). Accounts can be toggled on and off to view risk and equity by account or as a group.

Why it’s great

1) Uncover fees
Most people are aware of investment account fees, but not everyone grasps exactly how much they are paying. DRAFT makes it easy to discover the percentage and dollar amount paid.

DRAFTFeeFinder

2) Benchmark and compare
Users benchmark their accounts’ historical performance, allocation, and fees graphed alongside the top 10% of performers. They can also compare their metrics with those of an index fund.

DRAFTCrowdsourced

3) Build rapport between client and adviser
The app’s Blueprint option shows where accounts fall short. Using the in-app sharing capability, users can send results to financial advisers to hold them accountable.

What’s next?

DRAFT plans to launch a B2B, white-label version of its app for advisers to brand and distribute to clients, enabling advisers to increase communication, transparency, and trust.

Additionally, by gaining visibility into their clients’ entire portfolio, advisers may discover assets they aren’t currently managing.

DRAFT debuted is mobile app at FinovateSpring 2015 in San Jose.

 

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TIO Networks Garners $1.7 Million From Secondary Stock Offering

TIO Networks Garners $1.7 Million From Secondary Stock Offering
By Julie Muhn (@julieschicktanz) Posted on
Categories: TIO Networks

TIONetworkHomepage

TIO Networks, which went public in 2000, recently issued a non-brokered private placement of up to 2.1 million common shares. Each share is priced at $0.82 USD ($1.08 CAD), and gross proceeds will total up to $1.7 million USD ($2.2 million CAD).

The Vancouver-based company did not disclose much about how it plans to use the proceeds, other than for “general working capital purposes.”

TIO Networks’ cloud-based bill-payment-processing solution enables bill issuers to provide payment services for their underbanked customers. Earlier this summer, the company acquired Softgate Systems, a consumer bill-payment solutions-provider, for $31 million USD.

At FinovateSpring 2012, the company debuted TIO MobilePay, a mobile app that enables customers to make same-day payments for their utility bills with their Visa or MasterCard credit/debit card.

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FinovateFall Sneak Peek: Gro Solutions

FinovateFall Sneak Peek: Gro Solutions
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015 Sneak Peek, Gro Solutions

GroHomepage

 

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

GroSolutionsLogoGro Solutions’ Gro Account Opening helps financial institutions present a mobile front door that meets and exceeds the mobile expectations of the new customer.

Features:

  • Embraces what mobile does well and minimizes its shortcomings
  • Streamlines data-entry to reduce abandonment rates
  • Introduces entirely new account-origination system: new process and experience

Why it’s great
With Gro Account Opening, financial institutions are seeing their mobile account opening abandonment rates dramatically fall, below even those of the typical online rates.

GroPresenter1Presenters

David Eads, CEO
Eads is a frequent industry speaker and veteran of the mobile banking industry, previously with mFoundry (now FIS) and Kony.
LinkedIn

GroPresenter2Paul Mackowick, CRO
Mackowick has 25+ years in enterprise marketing and sales with IBM, Oracle, mFoundry (now FIS) and Mitek.
LinkedIn

 

 

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FinovateFall Sneak Peek: Kapitall

FinovateFall Sneak Peek: Kapitall
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015, FinovateFall 2015 Sneak Peek, Kapitall

KapitallHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

NewKapitallHoldingsLogoKapitall, a unique and gamified investing platform, presents Kapitall—an exciting, savings-first app modeled on the globally successful concept of prize-linked savings accounts.

Features:

  • Good financial behavior earns cash rewards
  • Save money, pay down debt or take personal finance quizzes to play
  • Win prizes based on how much you save, pay down debt, and improve financial knowledge

Why it’s great
Good financial behavior earns you cash rewards.

Presenter

Jeremy Pink, CEO LinkedIn
Jeremy also serves as a consultant to global technology, media and financial companies. Previously, Jeremy was a top executive at CNBC.

 

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FinovateFall Sneak Peek: Voitrax

FinovateFall Sneak Peek: Voitrax
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015, FinovateFall 2015 Sneak Peek, Voitrax

VoitraxHomepageThe Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

VoitraxLogoVoitrax is the only complete solution to comply with Dodd-Frank trade reconstruction requirements. It links and tags all of your trade communications exactly as regulators want them.

Features:

  • Unified communications ready for regulatory reporting as they happen
  • Ability to identify suspicious transactions in real time
  • A complete Trade Reconstruction solution, simplified and delivered

Why it’s great
Voitrax solves one of the toughest requirements in Dodd-Frank. We use a proprietary algorithm to index and tag all of your communications.

VoitraxPresenter1Presenters

Levi Orbach,CEO, Co-founder
Orbach has more than 25 years of Wall Street experience. Mr. Orbach is one of the world’s leading experts in compliance.
LinkedIn

VoitraxPresenter2Craig Eagle, COO, Co-Founder
Eagle is a renowned technology and project-management expert who has produced cutting-edge software for many Fortune 500 companies including some of the world’s largest banks.
LinkedIn

Moshe Rayman,CTO, Co-FounderVoitraxPresenter3
Rayman is a Wall Street technology veteran of more than 20 years, with vast experience in developing real-time systems for the trading floor.
LinkedIn

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FinovateFall Sneak Peek: TransferTo

FinovateFall Sneak Peek: TransferTo
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015, FinovateFall 2015 Sneak Peek, TransferTo

TransferToHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference. We’ll see you in New York!

TransferTo FinovateTransferTo operates a global Mobile Money Hub, enabling organizations to transfer money in real time to mobile phones. The company expects 1 billion mobile money-accounts by 2020.

Features:

  • Faster – real-time transfer to even the most remote locations
  • Better value – lower costs
  • More secure – strong compliance engine screens each transaction

Why it’s great
TransferTo helps businesses offer mobile money, goods and services, and airtime top-ups around the world in real time. TransferTo will launch its Mobile Money Hub at Finovate Fall.

Presenters

TransferToPresenter1Eric Barbier, CEO
Barbier founded TransferTo in 2005. He previously co-founded Mobile 365—the global leader in mobile messaging interoperability of SMS—which was acquired by Sybase in 2006 (for $425 million USD).
LinkedIn

TransferToPresenter2Charles Damen, EVP Global BD, Mobile Money
Damen is responsible for the development of Mobile Money and its strategic partnerships. Charles was a founding member of Mobile 365 and his previous positions include head of global payments at Badoo.com
LinkedIn

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FinovateFall Sneak Peek: RedCloud

FinovateFall Sneak Peek: RedCloud
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015 Sneak Peek, RedCloud

RedCloudHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

RedCloudLogoRedCloud’s RedCloud 1, launching in November, is a distributed, cloud-based platform used by banks and fintech companies to deliver the next generation of financial services.

Features:

  • Increased speed
  • Greater interoperability
  • Near real-time customization

Why it’s great
With RedCloud 1, banks and fintech companies are ready for the next era in payments. RedCloud 1 empowers clients to build for a Global Marketplace with ease, no matter what size.RedCloudPresenter1

Presenters

Justin Floyd, Founder
Floyd is an entrepreneur and investor, currently serving as a board director and CEO of RedCloud Technologies.
LinkedIn

RedCloudPresenter2Soumaya Hamzaoui, Chief Product Officer
Hamzaoui is an entrepreneur, investor and chief product officer, most recently involved with RedCloud as their product leader in the company’s global market development.
LinkedIn

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FinovateFall Sneak Peek: Ethoca

FinovateFall Sneak Peek: Ethoca
By Julie Muhn (@julieschicktanz) Posted on
Categories: Ethoca, FinovateFall 2015 Sneak Peek

EthocaHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

EthocaLogoEthoca Alerts helps merchants eliminate chargebacks through a global collaboration network that provides the industry’s largest source of confirmed fraud and customer dispute data.

Features:

  • Eliminate chargebacks
  • Mitigate fraud loss
  • Increase card acceptance

Why it’s great
Ethoca is the world’s largest global collaboration network, connecting 30+ issuing banks and over 2,100 merchants worldwide.

Presenters
EthocaPresenter Julie Fergerson, SVP, Industry Solutions
Fergerson is a leading expert on internet payments fraud with more than 20 years’ experience in the online payments and fraud management industry.
LinkedIn

EthocaPresenter2Steve Durney, SVP, Issuer Relations
Durney has two-plus decades of experience in assessing and implementing a wide range of loss mitigation, cost efficiency, and process solutions.
LinkedIn

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Finovate Debuts: Emailage Detects Fraud Through Users’ Email Address

Finovate Debuts: Emailage Detects Fraud Through Users’ Email Address
By Julie Muhn (@julieschicktanz) Posted on
Categories: Emailage, Finovate Debuts

 

EmailageHomepage

Emailage is a unique fraud prevention company. Its global risk assessment service helps companies underwrite risk simply by analyzing email addresses, with no further personal information required.

Emailage facts:

  • Saved companies over $140 million last year
  • Is used on every continent except Antarctica
  • Has offices in Sao Paulo, Brazil and London

Emailage has access to more than 4 billion email addresses, 25 million of which are associated with fraud. If an email address in a client’s list is associated with fraud, Emailage flags it and assigns a risk score.

The company’s fraud-prevention solution applies to any situation where an email address is provided. Examples include:

  • Account onboarding
  • P2P money-transfer
  • Account maintenance for existing customers
  • Ecommerce transactions

Additionally, Emailage has partnered with other fraud-prevention solutions to provide an added layer of protection.

How it works

URLEMAILIP1) Receive email addresses
Clients upload batches of email addresses to check for fraud. Multiple ways to upload include:

  • Browser extensions for Chrome, Firefox, and Internet Explorer
  • Rest API
  • Web portal
  • Batch processing
  • Secure file transfer protocol (SFTP)
  • URL/ HTTP Get calls

2) Evaluate risk
Emailage validates the emails and collects data associated with them. In real time, its algorithm alerts clients of any fraudulent activity associated with the addresses. It uses machine learning, so fraud alerts improve with every use.

3) Assign risk score
Emailage sends clients a risk score for each email address, along with the data, such as domain information, accompanying each.

EmailageOutput

The fraud-risk output is easy to understand. Businesses can customize the data by adjusting the scoring system to suit their preferences. Emailage’s algorithm detects 50% of all fraud problems with a 30% hit ratio. Its scoring system ranges from 1 to 1,000:

Emailageriskscore

In January, Forbes listed Emailage as one of 100 of America’s most promising companies of 2015.

Emailage debuted its browser extensions at FinovateSpring 2015 in San Jose. Check out the demo video below.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Blockchain, CardFlight, Cloud Lending, Fidor Bank, FinDEVr APIntelligence, InComm, Kabbage, On Deck Capital, PayPal, Tradier, Xero

FinDEVr2015LogoV2DateAre you building new financial technology? Be sure to register soon for the only event exclusively for fintech developers, FinDEVr 2015, 6/7 Oct in San Francisco.

Developer news

  • CIO of UBS asserts the blockchain will heavily impact financial services.
  • Inc. Magazine: “Why Fintech Is One of the Most Promising Industries of 2015″
  • Accenture and leading banks invite applications for Fourth Annual FinTech Innovation Lab London.
  • Tool of the week: SplitMetrics allows A/B testing of App Store promotional pages.

The latest from upcoming FinDEVr 2015 presenters

  • PayPal acquires mobile commerce platform Modest, its first acquisition as a standalone, public company.
  • Inc. Magazine ranks Kabbage the 36th fastest-growing U.S. private company.
  • Silicon Republic recommends following OnDeck on Twitter.
  • FinDEVr alums make Let’s Talk Payments’ list of payment companies raising money in 2015.
  • Fidor Bank CEO Matthias Kroner calls bitcoin a “natural part of the digital lifestyle.”
  • PayPal ranks in the top 5 of payments companies based on market cap.
  • Blackberry selects PayPal for its P2P Payments provider.

Alumni updates

  • TradeSharp integrates with Tradier to offer brokerage services and enhanced trading strategies.
  • InComm to expand offerings in Asda, the United Kingdom-based subsidiary of Walmart.
  • Blockchain achieves 4 million bitcoin wallets.
  • Xero announces plan to help SMEs get bank loans.
  • Cloud Lending Solutions unveils CL Originate, its next generation, cloud-based loan-origination platform.
  • CardFlight’s SwipeSimple to power Integrity Mobile’s mPOS tech.

Stay up to date on daily developments by following FinDEVr on Twitter.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bright Funds, CardFlight, Eco-Mail, FIS, Hedgeable, InComm, Lighter Capital, PayPal, Pindrop Security, SocietyOne, Socure, Tradier, WePay

On Finovate.com

Around the web

  • Pymnts interviews Rich Aberman, WePay co-founder.
  • TradeSharp integrates with Tradier to offer brokerage services and enhanced trading strategies.
  • Gwyneth J. Gaul joins Bright Funds as the company’s new vice president of corporate partnerships.
  • Dividend.com features several alums in its discussion on how robo-advisors are changing the investment world.
  • Washington Technology Industry Association creates video about Lighter Capital.
  • InComm to expand offerings in Asda, the United Kingdom-based subsidiary of Walmart.
  • PayPal acquires mobile commerce platform Modest, its first acquisition as a standalone, public company.
  • Socure appoints Michael Hiskey as vice president of marketing. Join Socure at FinovateFall 2015 in New York.
  • Investment News quotes Hedgeable CEO Mike Kane on bitcoin’s prospects as an alternative asset class. See Hedgeable in New York at FinovateFall 2015.
  • Avidia Bank ($1.2 billion) to deploy Cardless Cash ATMs courtesy of partnership with FIS.
  • Eco-Mail names John Schloff as managing director of marketing. Catch Eco-Mail live at FinovateFall 2015 in September.
  • CardFlight’s SwipeSimple to power Integrity Mobile’s mPOS tech.
  • Pindrop Security appoints Mike Vandiver as chief financial officer.
  • Check out this week’s FinDEVr APIntelligence.
  • Australia-based SocietyOne hits $200m in applications.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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