Julie Muhn (@julieschicktanz), Author at Finovate

Cachet Financial Solutions Integrates with Apple Pay

By Julie Muhn (@julieschicktanz) Posted on January 29, 2015
Categories: Cachet Financial Solutions

With Apple’s recent record-breaking earnings report, there’s been no shortage of Apple-talk lately, and today is no different.

Earlier this week, Cachet Financial Solutions announced its Select Mobile Money platform now integrates with Apple Pay.

Cachet’s prepaid card clients can enable customers to make purchases using Apple Pay at the physical point-of-sale (POS).

How it works:

iPhone 6 and 6 Plus users open their white-labeled Select Mobile Money app and click on the Apple Pay icon. Their prepaid card is automatically placed top-of-wallet in Passbook, ready to pay.

After payment, the Select Mobile Money app shows the user’s updated balance and transaction details (see image on right).

President and CEO of Cachet, Jeffrey Mack, likes the improved user experience and, states, “we expect this unique feature to attract new prepaid users to our clients, as well as bring new banks, credit unions and AFS providers to Cachet.”

The Apple Pay update is available now to its clients as an upgrade.

Cachet Financial demonstrated its Select Mobile Money app at FinovateFall 2014 in New York.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope 2015 Sneak Peek: Part 5

By Julie Muhn (@julieschicktanz) Posted on January 27, 2015
Categories: Asseco, Financial Media Solutions, FinovateEurope 2015, FinovateEurope 2015 Sneak Peek, Fiserv, i3D, Intelligent Environments, mBank, Pirean, Telenor banka

The 70+ presenters that will showcase their new tech on stage at FinovateEurope in two weeks are now unveiled. To take a closer look at the presenting companies, we’re continuing our Sneak Peek series. Today, we’re featuring Financial Media Solutions, Fiserv, Intelligent Environments, mBank & i3D, Pirean, and Telenor banka & Asseco SEE.

Don’t miss our other Sneak Peeks, available here:

Financial Media Solutions’ MAPPS simplifies Videographics, making it possible to create financial content in digestible bite size video formats for broadcast to any device, including smartphones.

Features

Makes Videographics easy
Empowers institutional users to convey financial concepts in concise video formats
Rapidly broadcasts dynamic content to any client device, including smartphones

Why it’s great
Communicating client content by video is the future. MAPPS resolves the challenge of how institutions better engage clients in financial concepts, even via their smartphone.

Presenters

Ian Park, Owner Director & CEO
LinkedIn

Christopher Thomas, Marketing Director
LinkedIn

Fiserv is one of FORTUNE magazine’s World’s Most Admired Companies and will demonstrate next generation digital banking interactions.

Features

Focuses on a truly integrated payments user experience
Allows customers to manage their spending habits and banking products
Visually stimulates consumers using augmented reality technology

Why it’s great
This innovation is geared towards the consumer and will allow greater control and transparency over their spending and banking habits.

Presenters

Jonathan Atkinson, Market Development, Digital Channels and Payments
Atkinson is a Sales Executive in Digital Channels and Payments team at Fiserv, Inc., focused on new clients across EMEA, with previous experience in core banking and CRM.
LinkedIn

David Abbott, Payments Lead, EMEA
Abbot has 25 years’ sales, business development experience in payments & eCommerce joined Fiserv’s payments business to support development activities in the EMEA region.
LinkedIn

Intelligent Environments is an innovative provider of mobile and online solutions for financial service organisations.

Features
Hopes to fight against cybercrime

Why it’s great
No firm is an island – we all have a shared interest in responding to the growing threat against cybercrime.

Presenter

Clayton Locke, CTO
Clayton Locke is a keen sailor. He is hoping for calm waters come Finovate!
LinkedIn

mBank, financial sector innovator & i3D, world-class provider of high-tech virtual reality solutions, developed an ultra-modern interactive digital bank branch.

Features

Digital wall with unlimited touch points and innovative UI/UX
Proximity-motion-sensing and face recognition technologies for dynamic content adjustment
Integration with sales support systems

Why it’s great
mBank & i3D dare to challenge the traditional notion of physical bank branches with ultra-modern multi-touch screens, motion-sensing and face recognition technologies.

Presenters

Jacek Iljin, Managing Director Sales & Processes, mBank
LinkedIn

Marcin Wiśniewski, Sales & Marketing Director, i3D
LinkedIn

Pirean enables organisations to provide secure, people-focused access for employees, customers, and partners across on-premise and cloud-based applications.

Features

Reduces lead-time to value for application access
Provides secure self-service capabilities for users
Introduces a single point of control and audit for all access management

Why it’s great
Pirean’s Access: One is an Identity and Access Management solution designed to provide a first class user experience anytime, anywhere.

Presenters

Rob Macgregor, Pirean’s Principal Consultant and Access: One’s Product Manager

Rob Blowers, Pirean’s Development Team Lead

With Telenor banka & Asseco South Eastern Europe, banking goes mobile – changing customer experience and reshaping banking products & services to fit mobile, brought by Telenor banka in synergy with Telco, powered by Asseco SEE multichannel solutions.

Features

Big data processing enabling relevant offer at relevant moment and place
Superb customer journey supported by straight-through processing and full automation
Utilization of synergy

Why it’s great
IT is a fully automated and personalized online handset loan enabled by Telenor banka and Telenor, powered by Asseco SEE.

Presenters

Martin Navratil, Chairman of the Executive Committee at Telenor banka
Managing Director of Telenor banka responsible for the design and implementation of the bank’s strategy, having great experience in Telco and Finance sector.
LinkedIn

Piotr Jeleński, Group President of the Management Board of Asseco SEE
Executive manager with experience in running and establishing new business in Poland, SEE region and Turkey. Managing international structure with over 1,400 people in 12 countries.

Marko Carevic, Marketing Director at Telenor Banka
Started his career in Telenor, initiated Telenor M&A initiative in financial services, currently responsible for entire customer value chain and go-to-market process.
LinkedIn

We’ll feature six more companies later this week. To see them all demo live, get your ticket to FinovateEurope 2015.

Share this:

Send Post Twitter LinkedIn Facebook

Themes and Presenters at FinovateEurope 2015

By Julie Muhn (@julieschicktanz) Posted on January 26, 2015
Categories: FinovateEurope 2015

With January coming to a close this week, European fintech followers have something to look forward to: an onslaught of new financial technology solutions at FinovateEurope.

The event will take place at Old Billingsgate Market Hall in London on February 10 & 11. Get your ticket to be a part of the action.

The themes we’ll see on stage at FinovateEurope next month align with the trends predicted by analysts for this year. Significant topics include mobile, lending, small business tools, and advisor solutions. Additionally, payments and personal finance maintain footholds and there’s a resurgence of interest in rewards and digital currencies.

Click to enlarge:

FinovateEurope allows you to meet the companies behind each theme during numerous networking sessions. Here is the full list of companies that will take the stage:

For more information on these companies, check out our company info page or view our Sneak Peek series below.

We anticipate a full crowd so be sure to guarantee your seat at the show. Once you get a ticket, we’ll see you in London!

Questions? Check out our FAQ page to get some answers.

FinovateEurope 2015 is sponsored by: The Bancorp, Be Group, Financial Technology Partners, KPMG LLP and Life.SREDA.

FinovateEurope 2015 is partners with: Bank Innovators Council, BankersHub, bobsguide, Breaking Banks, Canadian Trade Commissioner Service, Celent, Datamonitor Financial, The Financial Services Club, Future Finance, Harrington Starr, Hotwire, Mapa Research, Mercator Advisory Group, and The Trading Mesh (formerly HFT Review).

Share this:

Send Post Twitter LinkedIn Facebook

Kreditech Secures $200 Million Line of Credit

By Julie Muhn (@julieschicktanz) Posted on January 23, 2015
Categories: Funding, Kreditech

Germany-based Kreditech said, “hallo” to a $200 million line of credit yesterday. Victory Park Capital supplied the debt.

The company has served 2 million customers in 9 countries since launching in 2012. It will use this debt to “address the growing demand for loans of longer durations at fair prices.”

Kreditech CFO, Rene Griemens says, “Setting the stage for our upcoming Series C financing round, the credit facility will reaccelerate our growth well beyond the 500 percent per year mark.” According to TechCrunch, the impending Series C round will bring Kreditech to a $750 million pre-money valuation before its anticipated IPO in two to three years.

Kreditech uses its big data credit-scoring technology to better serve the world’s un and underbanked population, which accounts for four billion people. Earlier this month it acquired Kontomierz for its KYC technology and ability to get unique data in real-time.

Check out its live demo from FinovateSpring 2014.

Share this:

Send Post Twitter LinkedIn Facebook

BlueVine Grabs $18.5 Million to Increase Small-Business Lending

By Julie Muhn (@julieschicktanz) Posted on January 22, 2015
Categories: BlueVine, Funding

Being a small business short on funds is never a good thing. However, with more startups tackling short-term funding headaches for small businesses, there are now more options available.

For example, BlueVine Capital raised $18.5 million in a series B round today, bringing its total funding to $24 million. The announcement comes a day after its competitor, Taulia, pulled in $15 million.

The funding was co-led by 83North (formerly Greylock Partners) and Lightspeed Ventures. Silicon Valley Bank, Correlation Ventures and private investors also contributed.

The Palo Alto-based company will use the funding to expand into new verticals and add software integration. It also plans to double its employee base this year.

In March of 2014, BlueVine beta-launched its cloud-based platform that helps small businesses smooth out their cash flow by freeing up funds stuck in unpaid invoices. Businesses can receive credit lines from $5,000 to $50,000.

Since launch, BlueVine has processed thousands of invoices and provided several million dollars to small businesses in the U.S.

Check out BlueVine’s debut at FinovateFall 2014 in New York.

Share this:

Send Post Twitter LinkedIn Facebook

Taulia’s Fresh $15 Million to Fuel International Growth

By Julie Muhn (@julieschicktanz) Posted on January 22, 2015
Categories: Funding, Taulia

Invoice management company, Taulia, raised $40 million over the last six months, and brought in even more cash yesterday. The new, $15 million installment, which has been added to its previously-closed Series D round, comes from Zouk Capital.

Since launching in 2009, the San Francisco-based company acquired BillFLO in 2011 and has raised a total of $91 million. It operates primarily in North America and Europe and the new funds will be used to fuel international expansion.

The growing funding mirrors the company’s rising success. Over the past year, Taulia has doubled the number of employees to 200. Additionally, its network of suppliers has grown by 186%.

At the start of 2015, Tauila brought Rik Thorbecke on board as CFO. In the remainder of the year, the company plans to bolster R&D efforts and expand its enhanced financing options for buyers.

Taulia demonstrated its Early Invoicing Platform at FinovateSpring 2012.

Share this:

Send Post Twitter LinkedIn Facebook

LendingRobot Pulls in $3 Million to Boost Your Lending Club and Prosper Portfolios

By Julie Muhn (@julieschicktanz) Posted on January 21, 2015
Categories: Funding, LendingRobot

Yesterday, LendingRobot received $3 million in funding for its platform that helps individuals invest like pros on P2P lending sites, Prosper and Lending Club. Europe-based Runa Capital led the Series A round.

The new funding, plus the undisclosed amount received in a Seed round last April, brings LendingRobot’s total raised to somewhere north of $3 million.

The Washington state-based company plans to use the funds to add new features, enhance its prediction models, and accelerate growth.

LendingRobot uses an algorithm to invest users’ available balance in their Prosper and Lending Club accounts to get them the best return.

How is this different from Prosper’s QuickInvest or Lending Club’s Automated Investing?

Think of it as Bid Sniper software for eBay-meets P2P Lending. Popular loans are funded seconds after they are posted on Prosper or Lending Club, usually by institutional investors or hedge funds with automated loan investing technology. By the time the average individual makes their investments, often times the best loans have already been snatched up.

Additionally, it offers its 1,000+ users more than 40 filtering criteria to insure their cash is being invested how they want.

LendingRobot has no up-front fees, and manages users’ first $10,000 for free, after which it takes 0.45% per year.

LendingRobot was recently named a finalist in SWIFT Innotribe’s Startup Challenge.

We featured LendingRobot in our Behind the Scenes feature in May of 2014. Check out LendingRobot’s live debut at FinovateSpring 2014.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateEurope 2015 Sneak Peek: Part 3

By Julie Muhn (@julieschicktanz) Posted on January 20, 2015
Categories: CoinJar, EVRY, FinovateEurope 2015, FinovateEurope 2015 Sneak Peek, FOBISS, Strands, Trunomi, VATBox

We’ll be in London three weeks from today, where drinks will be served, networking will be in full force, and we’ll be wrapping up the first day of FinovateEurope 2015 (get your ticket here).

To help you prepare for the onslaught of 70+ live demos full of new technology, some of the presenters provided us a summary of what to expect from them on stage. This week, we’re featuring CoinJar, EVRY, FOBISS, Strands, Trunomi, and VATBox:

Don’t miss previous posts:

CoinJar is a digital finance platform that gives customers a way to manage and spend both traditional and digital currencies when and how they want.

Features

Store bitcoin without volatility
End-to-end solutions to make bitcoin adoption easy
Buy bitcoin reliably with a simple interface

Why it’s great
CoinJar provides end-to-end solutions to unlock Bitcoin’s potential.

Presenters

Asher Tan, CEO and Co-Founder
Economic Analyst. Researcher. Bitcoiner.
LinkedIn

Ryan Zhou, COO and Co-Founder
Rubyist. Student at University of Melbourne. Bitcoiner.
LinkedIn

EVRY is the Nordics’ leading financial service provider and is presenting Spendific, a concept designed to make personal finance simple.

Features

Automatically generates personalized budget based on previous spending
Gives users feedback on their finances in real-time
Motivates users to reach their goals

Why it’s great
In Spendific there are no complicated graphs or charts to tell you whether you’re on track with your finances. Just one number. No worries.

Presenters

Anne Moa, Product developer
Moa has previously worked as a youth economist in a large Norwegian bank, with responsibility for the bank’s main channel of communication towards young people.
LinkedIn

Magne Meldal, Business developer
Combining two decades of technology and marketing experience with an open mind, Meldal is passionate about bringing better financial services to consumers.
LinkedIn

FOBISS is a first modern tool enabling retail banks to manage their entire cash supply chains with one button click.

Features

Automates optimization and decision-making
Based on Artificial Intelligence technologies
Can be flexibly adapted to existing processes

Why it’s great
The industry’s first and only cash management system empowered by Artificial Intelligence and driving best decisions on time.

Presenters

Mindaugas Leonavicius, Managing Director
Leonavicius has more than 10 years of experience in management consulting. Led multiple businesses through start-up phases from establishment to breakeven.
LinkedIn

Andrius Ojeras, Global Sales Director
Ojeras is an IT Sales professional with more than 10 years of experience within multinational IT organizations.
LinkedIn

Strands designs and creates next-generation digital banking experiences to help individuals and SMEs manage their finances.

Features

Help SMEs analyze and forecast future financial needs
Empower SMEs to deliver targeted marketing campaigns on mobile devices
Help banks address the digital banking needs of business owners

Why it’s great
With Strands Loop, financial institutions can create a more seamless and personal banking experience and build better relationships with their SME clients

Presenters

Dario Lombardi, General Manager, Strands Finance
Lombardi leads the Finance BU. He joined Strands in 2011 as Business Development Director and has been responsible for managing sales in EMEA. Prior to Strands, he worked for Bloomberg LP
LinkedIn

Cesar Jimenez Richardson, Director, Business Development
Richardson joined Strands in 2014 and is managing Strands Finance in the Americas. Previously he founded and managed tech startup companies in travel and education tech arena and worked for Bloomberg LP
LinkedIn

Trunomi offers an innovative technology platform that streamlines Know Your Customer and mobile verification using a revolutionary consent-based data sharing platform.

Features

TruMobile securely connects customers with banks.
Monetises and personalises your customer’s data experience.
Streamlines verification KYC using a revolutionary consent-based data sharing platform.

Why it’s great
A customer-focused mobile solution that eliminates their most significant pain-points; making their account opening and data management experience simple, secure and easy.

Presenters

Stuart Lacey, Founder & CEO
Lacey is an innovator, team-builder and thought leader. Sometimes mistaken for the Energizer Bunny – he is relentless in his drive to find better ways to learn, build, nurture and share great ideas.
LinkedIn

Chia Brewin, Customer Development Executive
Brewin is a multi-tasking, Trunomian super-star. She attended University in the UK, helped run campaigns for major political parties then earned a black belt in the “Art of Customer Development”.
LinkedIn

VATBox is the first, cloud-based automated solution for Foreign/Domestic VAT recovery, providing data-driven visibility and insights while maximizing VAT returns.

Features

Eliminate human-error and resources with automated VAT technology
Gain complete visibility, compliance and control of VAT spend
Benefit from VAT recovery optimization, maximizing refunds

Why its great
VATBox’s Automated VAT recovery solution enables customers to have one global process that tracks and manages VAT spend with ease, and to maximize VAT refunds.

Presenters

Isaac Saft, Co-Founder & CEO

2012 – 2013 – President and Global Business Development, KCS Ltd
2004 – 2012 – Founder and Chief Executive Officer, KCS Ltd
1994 – 2003 – Commanding Officer, Israel Defense Forces

Stephen Coleclough, Advisory Board Member

Coleclough is a Tax Consultant in Mishcon de Reya’s Tax Group with over 30 years’ experience in tax and law. He was formerly a Partner and Global Leader of Indirect Taxes at pwc.

FinovateEurope will be held February 10 & 11 in London. Pick up your ticket today to save your seat at the hottest fintech event of the year.

Questions? Check out our FAQ for some answers.

Share this:

Send Post Twitter LinkedIn Facebook

Coinbase Raises $75 Million from BBVA, USAA, NYSE, & Others

By Julie Muhn (@julieschicktanz) Posted on January 20, 2015
Categories: Coinbase

Amid recent murmurs of cryptocurrency’s projected outlook for 2015, bitcoin wallet Coinbase just received some credibility from some major financial institutions.

The San Francisco-based company pulled in $75 million in a round led by Draper Fisher Jurvetson (DFJ). BBVA Ventures, USAA Bank, New York Stock Exchange (NYSE), and Crypto Currency Partners also contributed, along with existing investors Andreessen Horowitz, Union Square Ventures, and Ribbit Capital.

From a fintech standpoint, the most notable investors are BBVA and USAA. Both have historically been known for being on the cutting edge of fintech. In an interview yesterday with CoinDesk, BBVA Ventures executive director Jay Reinemann stated:

“This is unfortunately not an announcement that we’re opening up the bank to do that, it’s moreso a precursor. We need to better understand the industry and understand how merchants and consumers are interacting with bitcoin.”

According to TechCrunch, this is the largest round yet a bitcoin-related company has raised. The new installment adds up to more than double its last three rounds combined, and brings its total funding to almost $107 million.

What’s a bitcoin-focused company to do with all of those dollars? The Coinbase team will use the money to work on its mobile channel, increase its international availability from the current 19 countries to 30 countries, and build out its API.

To see the Coinbase wallet in action, check out its live demo from FinovateSpring 2014 where it demoed Instant Exchange.

Share this:

Send Post Twitter LinkedIn Facebook

Lending Club Pilots Program to Provide Low Interest Financing to Google Partners

By Julie Muhn (@julieschicktanz) Posted on January 16, 2015
Categories: Google, Lending Club

When you combine Lending Club’s entry into small business lending last March with its investment from Google in May of 2013, add in a successful IPO last December, what do you get?

A partnership with Google Partners.

Lending Club announced yesterday it is piloting a program that will enable Google to invest its own capital in its network of 10,000 partners by purchasing their loans. This differs from Google’s other investment arms, Google Capital and Google Ventures, as the partner investment program will offer capital without taking equity.

The partner network consists of resellers, consultants, and system integrators that help Google distribute its applications and services. To be eligible for funding, Google partners must be based in the U.S. and meet certain requirements. Qualifying partners can get loans of up to $600,000 for a two-year term.

This six figure amount is double the $300,000 cap that Lending Club typically places on qualified small business borrowers. Also, while the interest rate for SMBs borrowing through Lending Club starts at a fixed 5.9%, those who take out loans through Google Partners will pay only interest the first year, and pay back the loan on an amortized schedule in year two.

This isn’t Lending Club’s first time working with third parties. For a little over a year now, Lending Club has extended two-fold partnerships to banks and credit unions to 1) purchase loans from Lending Club to diversify their asset portfolios and 2) offer personal loans to their banking customers. It is also working with private equity companies.

Lending Club demonstrated at the first Finovate in 2007.

Share this:

Send Post Twitter LinkedIn Facebook

Kreditech Acquires Kontomierz for “Seven Digit Amount”

By Julie Muhn (@julieschicktanz) Posted on January 14, 2015
Categories: Kreditech

With a growth rate of 500% per year and a vision to serve 4 billion underbanked individuals across the globe, Kreditech has a lot on its plate.

Fortunately, the Hamburg-based company announced today it acquired Kontomierz for a “seven digit amount plus Kreditech shares.” The actual amount is undisclosed.

Kontomierz is an attractive purchase. Its KYC technology, Kontomatik offers an API to banks that gives read-only access to customer accounts. Additionally, it has net revenues around 1 million Euros, three digit annual growth, and counts Alior Bank and Idea Bank as clients. Sebastian Diemer, Kreditech founder and CEO explains further:

“With its technology Kontomierz enables us to get unique data in real-time. Our subsidiary companies will hence provide an even better banking service to a bigger target group, the unbanked and the underbanked individuals. A perfect marriage, indeed.”

The 16 Warsaw-based Kontomierz employees will now work as a group within the Kreditech organization.

Kreditech launched in 2012, and since then has served two million customers across nine countries. The following inforgraphic displays the company’s impressive growth:

Kreditech demonstrated its Kredito24, K24, and Zaimo products at FinovateSpring 2014. You can check out the demo video here.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Blog

Author: Julie Muhn (@julieschicktanz)

Cachet Financial Solutions Integrates with Apple Pay

FinovateEurope 2015 Sneak Peek: Part 5

Themes and Presenters at FinovateEurope 2015

Kreditech Secures $200 Million Line of Credit

BlueVine Grabs $18.5 Million to Increase Small-Business Lending

Taulia’s Fresh $15 Million to Fuel International Growth

LendingRobot Pulls in $3 Million to Boost Your Lending Club and Prosper Portfolios

FinovateEurope 2015 Sneak Peek: Part 3

Coinbase Raises $75 Million from BBVA, USAA, NYSE, & Others

Lending Club Pilots Program to Provide Low Interest Financing to Google Partners

Kreditech Acquires Kontomierz for “Seven Digit Amount”