Author: Julie Muhn (@julieschicktanz)

True Link’s New Prepaid Card Helps Keep Vulnerable Seniors Safe From Predatory Fraud

True Link’s New Prepaid Card Helps Keep Vulnerable Seniors Safe From Predatory Fraud
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, True Link
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This post is part of our live coverage of FinovateSpring 2014.

Then, True Link debuted its payment card that helps shield seniors from fraud:
“Vulnerable seniors lose $100 billion a year to predatory marketing and fraud. It’s easy to trick someone with memory loss – for example, you can sell magazines just by sending a free issue then calling and saying that they are overdue to pay for a subscription. 
Some of our customers spend thousands of dollars a month on magazines they never wanted. We offer a family-managed safe form of payment. When Grandma is out shopping with friends it works like any other Visa card, but if someone is trying to take her money, we decline the charge and keep her safe.”
Presenting: Kai Stinchcombe (CEO) and Claire McDonnell (COO)
Product Launch: March 2014 
Product distribution strategy: Direct to Consumer (B2C), through financial institutions
HQ: San Francisco, CA
Founded: February 2013 
Website: truelinkcard.com 
Twitter: @TrueLinkCard

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Endeavour Partners with Zoot and Jumio to Create a Mobile Account Opening Solution

Endeavour Partners with Zoot and Jumio to Create a Mobile Account Opening Solution
By Julie Muhn (@julieschicktanz) Posted on
Categories: Endeavour, FinovateSpring 2014
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This post is part of our live coverage of FinovateSpring 2014.


Then, Endeavour and Zoot took the stage to demo MobileAO, a mobile account opening solution:
“Endeavour has partnered with Zoot and Jumio to create a best-of-breed mobile account-opening solution− MobileAO. This unique, powerful, and flexible solution is capable of meeting the complex and evolving business requirements of large financial institutions regarding security, ID verification, and risk management; all while delivering a simple and intuitive mobile experience to the customer. 
Endeavour has integrated Jumio’s innovative ID validation and prefill capability along with Zoot’s real-time decision engine into a single mobile application and web portal, which empowers banks to open new deposit and credit accounts seamlessly and instantaneously.”
Presenting: Steven Staley (Dir. Banking & Strategic All.), Tom Johnson (VP Strategic Alliances),  and Alex Johnson (Marketing Specialist)
Product Launch: April 2014
Metrics: Endeavour is a privately held company with offices in Austin, London, Bangalore, and Singapore. Backed by Singapore-based private equity firm Basil Partners, Endeavour employs over 300 employees across four countries.
Product distribution strategy: Direct to Business (B2B), through financial institutions, licensed
HQ: Austin, TX
Founded: February 2008
Twitter: @mobilitycompany

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Personal Capital Launches One Click Investment Proposals to Make Advisors’ Jobs Easier

Personal Capital Launches One Click Investment Proposals to Make Advisors’ Jobs Easier
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, Personal Capital
This post is part of our live coverage of FinovateSpring 2014.
PersonalCapitalLogo2014

Then, Personal Capital took the stage to launch its One Click Investment Proposals:

“Traditional financial advisors have to manually collect, process, calculate, and report back on a prospect’s financial situation to generate a strategy for presentation. Personal Capital combines its award winning account aggregation and customer-facing user interface with a back office that allows our financial advisors to generate 90% of a proposal with one click, saving hundreds of advisor hours per month and allowing us to make our service both more personal and scalable. 
Once the proposal is created, the advisor can present and drive the discussion through our own remote sharing capability, viewable on any device.”
Presenting: Bill Harris (CEO) and Jim Del Favero (Chief Product Officer)
Product Launch: April 2014
Metrics: Over $50M raised to date, over 100 employees, over $4M in revenue from over $450M in AUM, growing 10% month over month, over 500,000 registered users who track over $60B of assets using our software.
Product distribution strategy: Direct to Consumer (B2C)
HQ: Redwood City, CA
Founded: July 2009
Twitter: @PersonalCapital

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Venovate Launches the Venovate Marketplace to Create Efficiency in Alternative Investments, Announces Investment from Studio 9+

Venovate Launches the Venovate Marketplace to Create Efficiency in Alternative Investments, Announces Investment from Studio 9+
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014, Venovate
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This post is part of our live coverage of FinovateSpring 2014.

Third up in today’s second session, Venovate launched the Venovate Marketplace:
“Venovate Marketplace is an online platform that makes investing in and fundraising for private securities faster and more efficient.
Our platform offers investors access to the broadest, most diverse set of alternative investment opportunities: private equity, natural resources, venture capital, infrastructure, hedge funds, and real estate. 
All members – both buyers and sellers – are put through a rigorous screening process to ensure that investors are qualified and that fundraisers present complete, transparent information. 
Investors can search for investment opportunities, get questions answered, indicate interest, receive acceptance, sign documents electronically, and close the transaction – all on a single platform.
Venovate is the smarter alternative for investing and fundraising.“

Additionally, Venovate is announcing that Studio 9+ has invested in Venovate’s initial round and plans to use Venovate Marketplace for its fundraising activities in the future. 
Presenting: Michael Raneri (CEO), Thomas Foley (President), and Michiel de Boer (Head of Prod., UX & Mktg)
Product Launch: April 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: San Francisco, CA
Founded: April 2013
Website: venovate.com 
Twitter: @venovate

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Fiserv Brings Mobiliti Banking to Wearable Devices

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

FiservLogo.jpg

This post is part of our live coverage of FinovateSpring 2014.
Next, Fiserv brought its Mobiliti banking and payments solution to wearables:  
“The Mobiliti™ mobile banking and payments solution from Fiserv currently offers ubiquitous alerts and notifications through in-session messages, secure messages, e-mail, SMS, and push notifications. 
This new innovation extends notifications and actionable alerts to wearable computing devices, allowing the user to receive alerts wherever they are, on whatever device they prefer, and to take action on it.”
Presenting: Andrew Barnett (Sr. Mobile Sol. Consultant) and Gregory Jones (User Experience Architect)
Metrics: $4.81B revenue in 2013, 21,000 associates worldwide, 14,500 financial institutions and business clients worldwide
Product distribution strategy: Through financial institutions
HQ: Brookfield, WI
Founded: July 1984
Website: fiserv.com
Twitter: @Fiserv

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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
Coinbase_lo_res_logo

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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