Author: Julie Muhn (@julieschicktanz)

ID.me Launches Solution that Seamlessly Identifies Affiliate Groups at the Brick and Mortar Point of Sale

ID.me Launches Solution that Seamlessly Identifies Affiliate Groups at the Brick and Mortar Point of Sale
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, ID.me
IDmeLogo

This post is part of our live coverage of FinovateSpring 2014.


Last up in this first session, ID.me launched its solution that ties affiliate groups with loyalty at the physical point of sale:
“ID.me enables consumers to tie authoritatively verified identity attributes (e.g. Military, Student, Teacher, Corporate Employee, Membership Group) to a medium of payment in order to eliminate the need for additional loyalty or identity credentials at checkout. 
Through partnerships with major players in the payments space, ID.me provides brands with an omnichannel solution that captures the identity attributes of their customers in a privacy-enhancing, user-centric manner.”
 
Presenters: Blake Hall (CEO & Co-Founder) and Matthew Thompson (COO & Co-Founder)
Product Launch: April 2014
Metrics: 
    • Financing: $16M
    • Federal Grants: $2.8M
    • Employees: 29
    • Revenues (Run Rate): $4M
    • Registered Users: 475,000

Product distribution strategy: Direct to Consumer (B2C), Direct to Business to Consumer (B2B2C)

HQ: Tyson’s Corner, VA
Founded: February 2010
Website: ID.me
Twitter: @IDme

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Tactile Finance’s Tacfi Helps Borrowers Control the Mortgage Process

Tactile Finance’s Tacfi Helps Borrowers Control the Mortgage Process
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Tactile Finance
TactileFinanceLogo

This post is part of our live coverage of FinovateSpring 2014.

Then, Tactile Finance launched Tacfi, a website that helps borrowers select a mortgage provider:
“Tacfi is a consumer mortgage website that, for the first time, allows mortgage shoppers to truly control their outcomes throughout the mortgage process. Tacfi puts the intelligence of the mortgage industry up front and accessible to consumers where it belongs. 
The website will also allow consumers to seamlessly connect to select mortgage providers, while providing an easy way to safely and effectively navigate the mortgage process from end to end.”
Presenters: Nicole Hamilton (CEO) and Shivie Mannshahia (Architect)
Product Launch: FinovateSpring 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: New York, NY
Founded: May 2012
Twitter: @tactilefinance

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Coinbase Debuts Instant Exchange to Remove Volatility Risk for Merchants Accepting Bitcoin

Coinbase Debuts Instant Exchange to Remove Volatility Risk for Merchants Accepting Bitcoin
By Julie Muhn (@julieschicktanz) Posted on
Categories: Coinbase, FinovateSpring 2014
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This post is part of our live coverage of FinovateSpring 2014.

Next, Coinbase demonstrated how its Instant-Exchange feature removes the exchange rate risk for merchants accepting Bitcoin:
“Our instant-exchange feature offers bitcoin payments to merchants with zero exchange rate risk. As a merchant receives bitcoin payments throughout the day, they can instantly sell these bitcoins to Coinbase at a market exchange rate that was locked-in at the time of the customer’s purchase. 
At the end of each day, Coinbase will clear the USD sum total of all sales via ACH transfer. The merchant is therefore not exposed to bitcoin exchange rate volatility and will receive a dollar value, less our 1% exchange fee, that corresponds to the USD sale price of items purchased by bitcoin-paying customers.”
Presenting: Roger Gu (Bus. Dev. Manager) and Nahid Samsami (Bus. Dev. Manager)

Product Launch: February 2014
Metrics: Coinbase holds 1.1 million consumer wallets and enables 28,000 merchants to accept bitcoin payments. The company is funded by Andreessen Horowitz, Union Square Ventures, and Y Combinator.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through partnerships
HQ: San Francisco, CA
Founded: July 2012
Website: coinbase.com
Twitter: @coinbase

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LendingRobot’s Algorithms Help Investors in P2P Marketplaces Get the Best Returns

LendingRobot’s Algorithms Help Investors in P2P Marketplaces Get the Best Returns
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, LendingRobot
LendingRobotLogo

This post is part of our live coverage of FinovateSpring 2014.

Then, LendingRobot debuted its platform that helps investors in P2P marketplaces achieve better returns:
“Twenty-four hours a day, 7 days a week, LendingRobot uses machine-learning algorithms and real-time scoring to select and fund loans before they’re snatched up by institutional investors.”
Presenting: Emmanuel Marot (President) and Gilad Golan (CEO)
Product Launch: December 2013
Metrics: The amount of money invested through LendingRobot has been doubling every month since launch.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Seattle, WA
Founded: September 2012
Twitter: @LendingRobot

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Jumio’s Fastfill Combines Three Data Reading Capabilities to Automatically Fill Out Forms for Customers

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

JumioLogo.jpg

This post is part of our live coverage of FinovateSpring 2014.
Second up this morning, Jumio showed how Fastfill saves time spent filling out forms:
“When customers arrive at your sign-up or checkout form they see a “Scan ID” option in addition to traditional key entry fields. Your customer simply taps the “Scan ID” button, selects the ID they wish to use, and holds it up to their device camera. Fastfill scans the ID, extracts the data it contains, and feeds data into your new account form; it takes just a second or two. 
Our patented technology offers three different data reading capabilities: bar code, MRZ, and OCR to enable customer data to be extracted from any of three ID types issued by over 100 countries.”
Presenting: Mike Orlando (CSO) and Anthony Lanham (SVP Sales)
Product Launch: February 2014
Metrics: 204 employees
Product distribution strategy: Direct to Business (B2B)
HQ: Palo Alto, CA
Founded: February 2010
Website: jumio.com 
Twitter: @jumio

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Ondot Systems Launches Mobile Prepaid Card Services

Ondot Systems Launches Mobile Prepaid Card Services
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, Ondot
OndotLogo

This post is part of our live coverage of FinovateSpring 2014.

Then, Ondot Systems launched its Mobile Card Services:
“Ondot empowers cardholders to remotely control their existing credit and debit cards from a smartphone app. Cardholders can lock or unlock their cards, set usage controls by location, merchants, transaction types, and spend limits, and receive and respond instantly to alerts and offers. Ondot’s customers have reduced fraud costs by 60%, increased card revenue by 50%, and gained market share in high-growth consumer segments.”
Presenting: Vaduvur Bharghavan (CEO)
Product Launch: April 2014
Product distribution strategy: Through financial institutions, through other fintech companies and platforms
HQ: San Jose, CA
Founded: March 2011
Twitter: @ondotsystems

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ZenPayroll Makes Payroll Easier for Employers While Adding a Human Touch to Payday

ZenPayroll Makes Payroll Easier for Employers While Adding a Human Touch to Payday
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, ZenPayroll
ZenPayrollLogo

This post is part of our live coverage of FinovateSpring 2014.

Second up, ZenPayroll demonstrated how it’s helping make payday easier for employers and more personal for employees:
“Payday is a special moment; it’s a chance for business owners to thank people for their contributions and for employees to feel appreciated. Compensation today is an impersonal, transactional event. 
Our team is unearthing the human side of compensation currently buried under layers of complexity and government bureaucracy. Payroll should be about people, not payments. At FinovateSpring, ZenPayroll is unveiling how payroll software can empower employees and help business owners build stronger teams.”
Presenting: Joshua Reeves (CEO & Co-Founder)

Product Launch: December 2012
Metrics: $26.1M in funding raised to date, processing over $500M in annual payroll
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: San Francisco, CA
Founded: October 2011 
Website: zenpayroll.com 
Twitter: @ZenPayroll
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MShift’s AnyWhereMobile Can Increase Debit Card Revenue for FIs While Reducing Interchange for Merchants

MShift’s AnyWhereMobile Can Increase Debit Card Revenue for FIs While Reducing Interchange for Merchants
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, mShift
MShiftLogo

This post is part of our live coverage of FinovateSpring 2014.

First to take the stage this session, MShift showed how AnyWhereMobile can bring debit card revenue to financial institutions while reducing interchange expenses for merchants: 
“AnyWhereMobile is a mobile payment network that will reverse the trend of Durbin and stabilize debit card margins for issuers while reducing interchange for merchants by 50%. AnyWhereMobile issuers will benefit from increased transaction volume, as merchants will be incentivized to steer a consumer’s tender choice to AnyWhereMobile. 
Our innovation creates a win-win-win for financial institutions, merchants, and consumers by fundamentally reducing the cost of a payment and passing the savings on to all three parties. AnyWhereMobile payments are authorized and secured at the point of sale in real time and have no dependency on any static card numbers.”
Presenting: Jeff Chen (VP Business Development) and Alan Finke (VP Engineering & Development)

Product Launch: August 2014 
Product distribution strategy: Direct to Business (B2B), through financial institutions, licensed
HQ: Fremont, CA
Founded: January 1999
Website: mshift.com 

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D3 Banking’s Full Suite of Digital Banking Solutions Creates a Better Customer Experience

D3 Banking’s Full Suite of Digital Banking Solutions Creates a Better Customer Experience
By Julie Muhn (@julieschicktanz) Posted on
Categories: D3 Banking, FinovateSpring 2014
This post is part of our live coverage of FinovateSpring 2014.

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Last to demo this session, D3 Banking showed how its suite of digital services helps financial institutions create a better end user experience:

“D3 Banking reduces cost and complexity for financial institutions by providing a comprehensive set of digital banking services from a single-code base that can be accessed via laptop, smartphone or tablet. Our responsive web design frees FIs from the overhead associated with maintaining multiple applications for a variety of devices, screen sizes and operating systems. 
D3 Banking provides the customer with a simple, intuitive interface for all types of money movement and provides the FI with least-cost routing options. Our integrated financial management tools automatically categorize transactions to create customizable budgets for customers, and our powerful data-analytics engine helps FIs identify new revenue opportunities.”
Presenting: Mark Vipond (CEO) and Kevin O’Kane (CPO)
Product Launch: November 2013
Product distribution strategy: Direct to Business (B2B)
HQ: Omaha, NE
Founded: 2007
Website: d3banking.com
Twitter: @D3Banking

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BodeTree’s Platform Uses Data to Provide Better Services to Both Small Businesses and Financial Institutions

BodeTree’s Platform Uses Data to Provide Better Services to Both Small Businesses and Financial Institutions
By Julie Muhn (@julieschicktanz) Posted on
Categories: BodeTree, FinovateSpring 2014
BodeTreeLogo

This post is part of our live coverage of FinovateSpring 2014.


Next, BodeTree demonstrated how it can help small businesses get the funding they need while giving financial institutions data to help underwrite the loans:
“BodeTree is a very powerful two-sided platform that serves small businesses and their banking partners. On one side, the system enables small business owners to better manage their businesses and access the capital they need. 
On the other side, it enables financial institutions to deliver a substantially improved customer experience and get the requisite (and reliable) data they need to profitably serve the small business segment.”
Presenting: Christopher Myers (CEO) and JT Archer (COO)
Product Launch: October 2013
Metrics: BodeTree has raised approximately $4.5M to date. Our investors include high net worth investors (including a former presidential cabinet member, head of small business practice at a large NYC private equity shop and CEO of a Fortune 500 company) and Greenline Ventures.
BodeTree has 12 full-time equivalent employees. As of April 2014, BodeTree is on track to have approximately 50,000 small business users and 13 funding partners.
Product distribution strategy: Direct to Business (B2B), through financial institutions
HQ: Denver, CO
Founded: December 2010
Website: bodetree.com
Twitter: @bodetree

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Insuritas Launches SmartCART Technology to Show Bank Clients Insurance Options

Insuritas Launches SmartCART Technology to Show Bank Clients Insurance Options
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, Insuritas
InsuritasLogo

This post is part of our live coverage of FinovateSpring 2014.

Next, Insuritas launched its SmartCART technology that helps bank customers shop for and compare insurance products:
“The SmartCART Technology™ platform allows millions of online banking customers to access a supermarket for financial products entirely inside a bank’s online ecosystem. SmartCART provides the same shop, compare, buy, single-checkout, and post-sale online account management experience as Amazon.com but features consumer and small business insurance products from multiple carriers who use SmartCART to compete on coverage. 
SmartCART features buy online, instant issue, online fulfillment for all purchases, takes a single payment from the consumer, reconciles to all carriers providing coverage, and creates an online “Insurance Account” that is available to the customer through the bank’s or e-tailer’s web portal.”
Presenting: Jeffrey Chesky (CEO) and Matthew Chesky (SVP)
Product Launch: April 2014
Metrics: Founded 1998, $10M Series A raise in Q2 2012 from private investors, 60 FTE, $18M+ in sales in 2014, 70+ bank & credit union partners, launched on Overstock.com, 2M+ per month free product impressions, $1.4M supporting sales per month, 76% of product sales revenue renews YOY
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: East Windsor, CT
Founded: 1998
Website: insuritas.com
Twitter: @Insuritas

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ChiaraMail’s Envelope-Content Splitting Technology Authenticates the Email Sender and Receiver Without Extra Friction

ChiaraMail’s Envelope-Content Splitting Technology Authenticates the Email Sender and Receiver Without Extra Friction
By Julie Muhn (@julieschicktanz) Posted on
Categories: ChiaraMail, FinovateSpring 2014
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This post is part of our live coverage of FinovateSpring 2014.


Then, ChiaraMail demonstrated how Envelope-Content Splitting technology can help financial institutions communicate securely with their customers:
“ChiaraMail fully secures email, virtually eliminating identity theft through spoofing. ChiaraMail’s patented and award-winning Envelope-Content Splitting™ (ECS) technology authenticates both the email sender and recipient(s) as well as ensures that no one except the intended recipients(s) can access the content, all without having to use encryption.
ECS-enabled mail applications also gain significant and unique functionality. The applications allow changes to the email after it has been sent, virtually unlimited sizes of attachments, inline video, and greater mail network efficiency for enterprises.
Financial services businesses can have highly secure communications with their customers without threat of spoofing or the hassle of encryption.”
Presenting: David Head (CMO) and Robert Uomini (CEO)

Product Launch: April 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, through enterprise licenses
HQ: San Francisco, CA
Founded: November 2012
Twitter: @chiaramail
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