Julie Muhn (@julieschicktanz), Author at Finovate

Finovate Alumni News– May 14, 2014

By Julie Muhn (@julieschicktanz) Posted on May 14, 2014
Categories: ACI Worldwide, BodeTree, Bolstr, FinovateSpring 2014, Finovera, FutureAdvisor, LikeFolio, Loop, Manilla, Pindrop Security, Rippleshot, Saved Plus, Simple, TextPower, TIO Networks, Wallaby Financial, Wealthfront, WePay

TIO Networks partners with New Jersey’s Public Service Electric and Gas Company to set up bill payment kiosks.

Pindrop Security and AGNITiO partner to protect call centers as they adapt to an increasingly mobile customer base.

Bolstr explains the basics of crowdfunding on NBC Chicago.

Loop Wallet app now available on Android.

Maps Credit Union chooses ACI Worldwide’s online banking platform.

Javelin Strategy takes a look at bill pay alternatives to Manilla, including Finovera.

FinovateSpring 2014: Behind the Scenes with WePay, Rippleshot, and TextPower.

BodeTree brings in $2 million in Series A round.

SavedPlus, LikeFolio, Wallaby, FutureAdvisor, Simple and Wealthfront earn spots on CNN Money’s list of the 15 best financial websites and apps.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 13, 2014

By Julie Muhn (@julieschicktanz) Posted on May 13, 2014
Categories: Banno, FIS, InComm, Insuritas, Mambu, ProfitStars, ShopKeep POS, TIO Networks, TSYS, Yseop

Yseop expands to New York http://bit.ly/QEtHWx

InComm partners with Softgate Systems to enable consumers to make cash bill payments in-store for 12k billers.

TIO Networks partners with PSE&G to enable customer payments at 2,000+ retail locations.

TSYS chooses ShopKeep to offer POS technology in the cloud.

FIS introduces Early Risk Manager, a turnkey, cloud-based risk and compliance solution for FIs.

Back to Banno: ProfitStars rebrands Andiamo mobile payments solution; now called Banno Mobile.

Mambu wins core banking contracts with financial organizations in Nigeria, Angola, and Kenya.

United Community CU partners with Insuritas to create a virtual “Insurance Aisle” inside the credit union.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 12, 2014

By Julie Muhn (@julieschicktanz) Posted on May 12, 2014
Categories: Actiance, BancBox, Dealstruck, Entrepreneurial Finance Lab, FIS, Jumio, Loop, Manilla, ShopKeep POS, SmartyPig, Strands, Xero

Manilla to shut down July 1.

Xero and ASB launch business to bank payments.

Bancbox and Kingdom Trust Company partner to streamline the crowdfunding and P2P lending platform for the IRA investor.

Actiance tops Forrester’s social risk and compliance product list.

Strands hires new CEO, Erik Brieva.

Dealstruck and Entrepreneurial Finance Lab named finalists in Core Innovators Challenge.

FIS announces launch of FIS Instant Card to accelerate FI’s ability to provide new or replacement cards.

Chris Skinner highlights the relationship between SmartyPig and ICICI Bank in a feature on Banking-as-a-Service.

ZDnet takes a look at ShopKeep POS, including its recent $25 million investment form Thayer Street Partners.

The Motley Fools calls Loop, the invention that “will change the way you pay for everything.”

The Rock Trading Ltd. partners with Jumio for real-time ID verification services.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 9, 2014

By Julie Muhn (@julieschicktanz) Posted on May 9, 2014
Categories: Bolstr, CUneXus, Fiserv, ID.me, Klarna, Kony Solutions, MasterCard, MoneyDesktop, Q2ebanking, Rippleshot, Stockr, Venovate

Q2ebanking releases first quarter results with 2014 Q1 revenue of $16.8 million, up 31% YOY.

Stockr voted Top 100 Website by PC Magazine.

Dell Services improves enterprise mobility offerings with Kony partnership.

Silicon Slopes: MoneyDesktop snags AtTask executive for EVP of Sales.

FinovateSpring: Behind the Scenes with CUneXus, ID.me, and Venovate.

Bolstr featured in Built in Chicago.

MasterCard launches “auWallet” prepaid card program for APMEA region in partnership with KDDI.

Nymeo Federal Credit Union to deploy account processing technology from Fiserv.

Klarna, Provenir launch project to combine fraud risk decisioning with compliance, risk management automation.

Entrepreneurial digital startup hub, 1871, features Rippleshot.

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.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateSpring: Behind the Scenes with CUneXus, ID.me, and Venovate

By Julie Muhn (@julieschicktanz) Posted on May 8, 2014
Categories: CUneXus, FinovateSpring 2014, ID.me, Venovate

We’ve had a blast following up on the news buzz created by the 68 companies we saw demo at FinovateSpring 2014 last week in San Jose. Now we get to report on a few more details of companies that demoing at Finovate for the first time.

Today, we’re taking a closer look at:

We’ll have further coverage in the coming weeks, so stay tuned!

CUneXus

What they do

CUneXus’ Perpetual Loan Approval product gives financial institutions a way to show borrowers a constant view their borrowing power across multiple loan products. It pre-approves the customer instead of simply providing a prediction of what the loan payment and terms may be, if the loan is accepted.

This constant pre-approval can create stickiness by keeping the lending institution in the top of the consumer’s mind when they are ready to make a decision about a loan or credit card. And, since the approval automatically changes with the consumers’ financial standing, it is a more efficient way to customize loan promotions.

Stats

FI client size ranges from $400 million to $2 billion
Launched in December 2013

The experience

The web and mobile screenshots below show the variety of offers the end consumer sees. The platform shows everything from credit cards to auto loans, to personal loans. Since the platform is dynamic, it will change the offers depending on the consumers’ financial situation.

For example, if the consumer accepts the offer on the car loan, the platform will automatically rescind the offer on the RV or motorcycle loan.

CUneXus also uses geolocation to target the end user when it matters– at the point of their decision. For example, after a user has been standing at a car lot for longer than 5 minutes, FIs using CUneXus can send them a push notification reminding them of the loan offer for which they are pre-qualified.

Since the system pre-approves users, activating the offer is easy:

After selecting the type of loan and amount, users need only to enter their phone number and when they would like to talk to an agent. To speed the process, they have the option to take a picture of a recent pay stub as proof of income.

Beyond creating more borrower transparency, CUneXus makes loan distribution more efficient for the lending institution. The automation of the loan offer, combined with carefully timed push notifications, can drive more revenue from online and mobile banking.

ID.me

What they do

ID.me works a bit like PayPal for affiliate groups such as students or veterans. Its network proves that the user is affiliated with the group so that merchants can target these specific groups with discounts and rewards, without the hassle of making them prove their identity.

At FinovateSpring, ID.me showed how its identity verification can be used at the physical point of sale, as well as online.

Stats

Financing: $16M
Federal Grants: $2.8M
Employees: 29
Revenues (Run Rate): $4M
Registered Users: 475,000

The experience

The user selects their affiliate group and adds the required information to verify their affiliation. In the screenshot of the web interface below, Blake has already verified his affiliation as an army veteran. ID.me also gives him the option to verify himself as a student or first responder to receive additional merchant benefits.

Once he is verified, he is prompted to link a credit card with his account.

After the user is verified as a member of the affiliate group and has linked their card, they can receive rewards at the physical point of sale, as well as online.

The screenshot below shows the iPad interface of a brick and mortar merchant’s POS system. After swiping the credit card that he previously linked to ID.me, the user (Blake) automatically received the merchant’s discount for veterans.

Since this merchant has card-linked rewards enabled, the transaction was seamless. Blake did not need to know that the merchant offered special discounts for veterans and the merchant did not need to ask Blake for proof that he is a veteran.

Below is a snapshot of some of the more than 70 merchants that ID.me is partnering with. CEO Blake Hall advised me to keep an eye out this summer, when ID.me will release news of a slough of new big-name merchants.

Venovate

What they do

The Venovate (venture + innovate) platform seeks to make the investing process more transparent, accessible, and efficient. It has a two-pronged approach:

1) For investors

It curates alternative investment opportunities and serves as a broker so accredited investors can directly invest in them. Venovate carefully vets the list to ensure the opportunities are compliant and have a good likelihood of positive returns.

2) For fundraisers

The platform enables alternative investment funds and private companies to raise funds from $200,000 and up on its platform. Venovate verifies the accreditation of investors before allowing them to invest (non-accredited investors can still join, but are in view-only mode; they are not allowed to invest).

The online platform makes it easy for both parties with search capabilities and e-signature functionality.

Stats

Can reduce the fundraising process from 10 months to 10 weeks
Launched in April 2014 at FinovateSpring

The experience

When creating their profile, the investor selects the type of investments they are interested in, as well as the dollar range and the number of investments they are willing to make per year. Additionally, the platform shows the investor’s accreditation status and investment history in the upper right hand corner.

This is useful for fundraisers, who are given full visibility to these details before deciding who they will allow to invest in their project.

Venovate’s company directory serves as a resource for investors to search companies seeking investment. It provides high-level information on companies, with an option to drill down into more specific detail.

Each fundraising company has its own profile that provides more details for interested investors. The deal profile below shows relevant information about the deal. It covers basics such as description and minimum investment amount. It also shows the valuation cap, the number of current investors and the number of users currently watching the investment.

Venovate announced its public beta at FinovateSpring, along with an investment from Studio 9+, an accelerator program based in Silicon Valley.

Stay tuned for more behind the scenes features next week.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 8, 2014

By Julie Muhn (@julieschicktanz) Posted on May 8, 2014
Categories: Andera, Boku, Cachet Financial Solutions, Coinbase, MasterCard, Motif Investing, ProfitStars, RevolutionCredit

Boku partners with Deutsche Telekom to power the MNO’s payments offerings, provide it with a mobile app, and give customers the ability to pay for digital goods and services simply using their existing mobile phone account.

ProfitStars named among the 2014 Best Places to Work in Kentucky.

American Banker: Andera Acquisition to Bolster Bottomline’s Digital Banking Business.

Cachet Financial Solutions files initial registration statement with the SEC looking to raise $20 million through a public stock offering.

MasterCard Accelerator for European startups announces May 16 deadline.

Motif Investing raises $35 million in move toward wealth management market.

RevolutionCredit announces $10 million investment from Accion Venture Labs.

Coinbase’s acquisition of Kippt to bring usability to bitcoin.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 7, 2014

By Julie Muhn (@julieschicktanz) Posted on May 7, 2014
Categories: Actiance, App Annie, BancBox, BBVA Compass, Credit Sesame, Dashlane, Jack Henry, Kabbage, On Deck Capital, Personal Capital, Prosper, Striata, TradeHero

iFactor and Striata partner to offer robust push ebill solution to utilities.

Kingdom Trust and Bancbox partner to streamline the crowdfunding and P2P lending platform experience for the IRA investor.

Alternative lending pays up: Kabbage raises $50 million, Prosper pulls in $70 million.

Actiance extends Socialite to include Google+ & YouTube.

VentureBeat looks at the rise of P2P lending of many Finovate alums and predicts $1 trillion in loans by 2025.

App Annie now lets app developers track ads, app store optimization.

TradeHero launches a Chinese version, bringing the stock market game to traders in China.

Lend Academy speculates Prosper now valued $600 million, up from a $100 million valuation around eight months ago.

Personal Capital reaches 500,000+ registered users. Now is tracking over $70+ billion in & is managing $500 million in assets for clients.

Credit Sesame offers Target customers free ID protection, credit monitoring and credit scores without deadlines.

Jack Henry Banking’s Core Director processing platform deployed by Oklahoma State Bank and The Bank of Clovis in New Mexico.

BBVA Compass teams up with On Deck Capital to better score small business borrowers.

WSJ Personal Technology column recommends Dashlane as the “best way to manage online passwords.

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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– May 6, 2014

By Julie Muhn (@julieschicktanz) Posted on May 6, 2014
Categories: BancBox, Banno, Fiserv, Holvi, Insuritas, Jack Henry, Leaf, Lending Club, LendUp, MiiCard, Ripple

CU Alliance hires Insuritas to build non-cyclical fee income for credit union members.

Lendoor partners with BancBox.

Wade Arnold wins CEO of the Year award from Technology Association of Iowa, weeks after selling Banno to Jack Henry & Associates.

Holvi moves HQ to downtown Helsinki.

Techli St. Louis features miiCard.

Fidor AG is first bank to deploy Ripple protocol.

Lending Club announces partnership with Union Bank.

Fiserv’s TradeFlow enhanced to support SWIFT’s GETC.

Sonora Bank implements SilverLake core processing platform from Jack Henry Banking.

LendUp raises $50 million credit debt facility from Victory Park Capital.

Leaf appoints Sarah McCrary to CEO.

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.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateSpring 2014 in the Press

By Julie Muhn (@julieschicktanz) Posted on May 5, 2014
Categories: FinovateSpring 2014

Last Wednesday we wrapped up FinovateSpring 2014. Since then, press reps have been hard at work covering the news and product launches that buzzed throughout the two day conference.

Below is a compilation of the news so far. We’ll add further coverage as it’s released throughout the week:

American Banker

Data Breaches Spur Security Focus at Financial Startups

by Kevin Wack