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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 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.
Venovate announced its public beta at FinovateSpring, along with an investment from Studio 9+, an accelerator program based in Silicon Valley.
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.iFactor and Striata partner to offer robust push ebill solution to utilities.CU Alliance hires Insuritas to build non-cyclical fee income for credit union members.
Bank Technology News
Thanks to the dedication of the bloggers, journalists, and media reps for attending and covering the full variety of fintech over the course of the two days.
The full demo videos will be available on Finovate.com within the next two weeks.We’ll see you all next year!
At FinovateSpring last week, we witnessed the popularity of alternative lending platforms as shown through Dealstruck, LendingRobot, and Venovate.
Further underlining this trend, two players in the alternative lending space, Kabbage and Prosper, both announced funding today.
Kabbage plans to use the funding to boost its marketing efforts, build out its partnerships, and expand further internationally. It also has plans to better leverage big data for underwriting purposes.
Prosper, a P2P funding platform based in San Francisco.
- Funding: $70 million.
$50 million of this will be allocated to Prosper’s balance sheet. The remaining $20 million is a secondary round in which some shareholders are cashing out.- Previous funding totals $190 million
- Contributing investors include:
- Francisco Partners
- Institutional Venture Partners
- Phenomen Ventures
- Founded: 2006
- Demoed at Finovate 2007
Last month, Prosper announced $1 billion in total loans originated on its platform and it plans to reach $2 billion in total loans this year.
It is speculated that this new round places Prosper at a $600 million valuation, up from a $100 million valuation around eight months ago.
Our record-breaking audience has spent a hot two days in San Jose watching 68 demos covering the best in fintech.
After watching the 68 demoing companies show off their newest innovations on stage in front of the sold out auditorium, the crowd voted for their 3 favorite demos at the end of each day. The eight companies with the highest number of votes were crowned winners.
Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphone
PrivatBank, for topless, contactless smartphone-enabled Android ATM technology
SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance
Stockpile, for their “give the gift of stock” solution that helps people invest in the brands they love
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Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The eight companies appearing on the highest percentage of submitted ballots were named Best of Show.
5. Go here for a list of previous Best of Show winners.
