Author: Julie Muhn (@julieschicktanz)

DoubleBeam Bolsters its Mobile Commerce Solution with the Acquisition of GoPago

By Julie Muhn (@julieschicktanz) Posted on
Categories: DoubleBeam

DoubleBeamLogo.jpg

DoubleBeam, the company that powers mobile commerce at the POS, announced this week that it has acquired point of sale commerce solutions company, GoPago.

DoubleBeamMobileOffers.jpg

DoubleBeam’s solution can save merchants up to 75% on interchange fees by circumventing credit cards. Its acquisition of San Francisco-based GoPago will deliver a turnkey mobile commerce solution for merchants.

Shortly after DoubleBeam’s acquisition announcement, TechCrunch reported that Amazon purchased the technology and engineering team from GoPago, which means that DoubleBeam has acquired the POS business and merchant relationships side of the company.

To see a live demo of DoubleBeam, check out its FinovateFall 2013 demo.

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A Look Back at the Finovate Best of Show Winners in 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Best of Show, FinovateAsia 2013, FinovateEurope 2013, FinovateFall 2013, FinovateSpring 2013

Here at Finovate, we’ve been keeping a close watch on the development of fintech since 2007. This year was no different. Over the course of our four conferences in 2013, we saw:

    • 241 demos
    • 28.1 hours of demos
    • 16 “time’s up” gongs
    • 39 hours of high-intensity networking
In case you missed them, here are the Best of Show winners from this year:
FinovateEurope2013.jpg
  • MenigaLogo.jpgMeniga for its PFM platform, including “buy” vs “not buy” feature
    demo videoMovenLogoNew.jpg
  • oink_newlogo.jpgVirtual Piggy (now Oink) for its kids’ payment system with parental controls
    demo video
FS2013_v1_Highres.jpg
FamZooLogo2Large.jpg
  • LendUp, for its LendUp Ladder loan platform that helps LendUpLogo.jpgthe underbanked build credit
    demo video
  • TipRanksLogo.jpgTipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
    demo video
FF2013-horz-highres.jpg
  • motiflogo.jpgMotif for its platform that lets you invest in ideas in one click
    demo video
  • TipRanksLogo.jpgTipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
    demo video
  • YodleeLogo2012.jpgYodlee, for its debut of TANDEM that helps groups manage and discuss shared finances
    demo video
FA2013-v2_highres.jpg


  • INDGroupLogo.jpgIND Group, for its Essence mobile banking app, with detailed financial management tools
    demo video
  • KofaxLogo.jpgKofax, for its omni-channel solution that accelerates and enhances the underwriting process
    demo video
  • YodleeLogo2012.jpgYodlee, for the international debut of TANDEM, an app that helps groups manage and discuss shared finances
    demo video
The Full History

Here’s the Best of Show history that spans back the inception of Finovate in 2007:

Finovate 2007
Held October 2, 2007

Held April 29, 2008
  • First ROI (now BancVue): Develops products and services for community financial institutions
  • Jwaala: Provides software solutions to help financial institutions compete
    demo video
Held October 14, 2008
  • Credit Karma: Provides a free and easy way for consumers to understand, monitor and monetize their credit profile
    demo video
  • Neosaej’s MoneyAisle (closed): Platform where banks compete in live auctions for an individual consumer’s business 
    demo video
Held April 28, 2009
  • BillShrink (now Truaxis): Provides a free cost-savings tool that saves consumers money on everyday bills
    demo video
  • Silver Tail Systems (acquired by EMC in October 2012): Predictive analytics to prevent fraud abuse
    demo video
  • SimpliFi: A web service that allows anyone to create and update their own financial plan
    demo video
Held September 29, 2009
  • Credit.com: Provides free interactive tools, education, and unbiased comparisons of quality financial products and services
    demo video
  • Silver Tail Systems (acquired by EMC in October 2012):  Online fraud detection services
    demo video
  • Yodlee: Provides personalized financial solutions to financial institutions
    demo video
Held May 11, 2010
  • oFlows (Purchased by Andera in 2011): Multichannel, paperless solutions for financial institution account opening
    demo video
Held October 4-5, 2010
  • oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
    demo video
Held February 1, 2011
Held May 10-11, 2011
  • BancVue: Develops products and services for community financial institutions
    demo video
  • BankOns: Mobile app offering consumers real-time savings at local merchants
    demo video
  • oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account opening
    demo video
  • Mitek Systems: Provides apps for smartphones that allow users to deposit checks and pay bills via the camera on their device
    demo video
Held September 20-21, 2011
  • FeeFighters (acquired by GroupOn in 2012): Platform that simplifies the process of choosing a merchant account provider
    demo video
  • Offermatic (closed in June 2013): Targeted online offers provider
    demo video
  • oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
    demo video
Held February 7, 2012
  • Nutmeg: Online investment manager that democratizes saving and investing
    demo video
Held May 8-9, 2012 
  • Dwolla: FISync service to enable banks to originate real-time, P2P payments
    demo video
Held September 12- 13, 2012

  • Credit Sesame: Financial Fitness Indicator that gives users a comprehensive view of their financial situation
    demo video
Held November 6, 2012

  • Finantix: Launched Sharp digital banking platform to improve sales and service interaction
    demo video
  • Ubank: National Australian Bank (NAB), launched its peer-spending comparison tool, People like U
    demo video

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 companies with the highest percentage of submitted ballots were named Best of Show.  

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Prestadero Surpasses 11,000 Registered Users in 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Prestadero

PrestaderoLogo.jpg

P2P lending platform Prestadero released growth figures this week that attest to the growing popularity of non-bank lending intermediaries.

Here are some of the growth numbers it released:

  • Surpassed 11,000 registered users
  • Received credit applications for more than 225 million pesos in 18 months
  • On track to double its credit origination every 3 months
PrestaderoHomepage.jpg

The Mexico-based company offers unsecured personal loans from $10,000 to $250,000 pesos at rates from 8.9% to 28.9% per year. These rates are much more attractive than classic credit card APRs which, in Mexico, average 56.32%.

Prestadero debuted its platform at FinovateSpring 2013. Check out the demo here.

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Finovate Alumni News– December 19, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Allied Payment Network, ayondo, CR2, findabetterbank.com, Finovera, FIS, Fiserv, Jemstep, Klarna, PaySimple, peerTransfer, planwise, SigFig, Tradeshift, Trustev
  • Finovate-F-Logo.jpgThe Chicago Tribune lists Planwise, SigFig, Jemstep and FindaBetterBank as tools to fix your finances.
  • peerTransfer announces record setting 2013, bringing total customer base to 400 institutions.
  • Tradeshift brings in $15 million of a $57 million equity round.
  • Trustev brings in $500k from Notion Capital, Adding to the $3 Million it Garnered in October.
  • Business2Community features PaySimple.
  • Allied Payment Network teaming up with ACI Worldwide to provide same day bill pay via PicturePay.
  • Klarna acquires Sofort to become 10% of Europe’s $100 billion e-commerce market.
  • Les Muma, former Fiserv CEO, to join board of directors of FIS.
  • UAE’s Bank of Sharjah to offer CR2’s BankWorld-powered mobile banking app.
  • ayondo announces new features including open positions in profile view.
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.

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Trustev Brings in $500k from Notion Capital, Adding to the $3 Million it Garnered in October

By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Trustev

trustevLogo.jpg

European fraud-fighting company Trustev made an announcement yesterday that further proves the increase in demand for fraud prevention security platforms. After receiving $3 million in seed funding in October, the Ireland-based company announced an extra $500k investment from Notion Capital.

TrustevHomepage.jpg

The startup, which processes an average of 2 million customer transactions per week for 60 merchant customers, will use the extra cash to increase the number of transactions it protects. By February, it plans to protect 10 million customer transactions per week, a 5x increase.

Additionally, by Q2 2014, it plans to bolster its service by not only protecting transactions, but also by guaranteeing the protection from fraud.

Trustev will demo at FinovateEurope 2014 in London. To come and see the action live, get your ticket here.

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Tradeshift Brings in $15 Million of a $57 Million Equity Round

By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Tradeshift

TradeshiftLogo.jpg

Electronic invoicing solutions company, Tradeshift, announced it recently brought in $15 million in equity funding.

This round is the first installment of a $57 million round. According to the San Francisco-based company this equity sale is, “part of something much bigger,” though it did not provide further detail.

TradeshiftHomepage.jpg

Tradeshift demonstrated at FinovateEurope 2013 in London where it debuted its Instant Payments feature.

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Finovate Alumni News– December 18, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Check Point, CR2, Dwolla, Emida, Geezeo, MasterCard, Mitek, MoneyDesktop, Payfone
  • Finovate-F-Logo.jpgDwolla launches Form Builder to enable users to build free custom payment forms.
  • Utah Valley Business Q Mag recognizes MoneyDesktop for its billboard advertising (see page 52-53).
  • Blue Coat and Check Point Extend Partnership on High-End X-Series Network Security Systems.
  • Payfone to use AT&T’s network data to enhance its mobile identity services.
  • Vovox and Emida partner to provide enhanced mobile payment options for users.
  • West – Aircomm FCU to offer PFM powered by Geezeo.
  • Mike Brady named COO at CR2.
  • MasterCard debuts MasterPass in Italy. 
  • Business Banking Review names Mitek-powered U.S. Bank Mobile Photo Bill Pay “Best Technology Initiative in Banking”.
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.

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Finovate Alumni News– December 17, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: FIS, Kashoo, Mint.com, Mortgagebot, Realty Mogul, SecondMarket, TIO Networks, Tuition.io
  • Finovate-F-Logo.jpgIn The Capital features Tuition.io’s student loan gift payment feature.
  • First Internet Bank leverages Mortgagebot Enterprise Solution to Win 2013 Online Mortgage Originator Award.
  • Coinbase: SecondMarket’s Bitcoin Investment Trust Amasses $61.1m in 3 Months.
  • TIO Networks to launch a full suite of electronic bill payment services for Gulf Power Company.
  • Realty Mogul CEO Jillene Helman talks about crowdfunding real estate on Bloomberg TV.
  • FIS wins Javelin’s Best in Class Overall Mobile Banking Vendor award for 2013.
  • Kashoo, Mint named among “6 great iOS accounting apps for small business” by Business News Daily.
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.

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Finovate Alumni News– December 16, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Biometric Signature ID, Bright Funds, FutureAdvisor, Kasasa, MoneyDesktop, Personal Capital, SecondMarket, SocietyOne
  • Finovate-F-Logo.jpgMoneyDesktop to power Kasasa 360 Financial Management Platform.
  • SF Gate reports: SecondMarket allows IRA investment in Bitcoin.
  • Crowdfund Investor features SocietyOne’s P2P Lending platform.
  • Digital Journal promotes Personal Capital and FutureAdvisor.
  • Biometric Signature ID profiled in Huffington Post column on identity proofing.
  • San Francisco Business Times’ Bay Area BizTalk features Bright Funds.
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.

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Finovate Alumni News– December 13, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Blackhawk Network, EyeVerify, MasterCard, MoneyDesktop, Tradeshift
  • Finovate-F-Logo.jpgBlackhawk Network partners with Opengate to Launch New Prepaid Content in South Africa.
  • Tradeshift unveils Oracle Gold partnership & supply chain connectivity solution for the Oracle E-Business Suite.
  • MasterCard launches recruitment drive for e-commerce tech lab in New York City.
  • EyeVerify featured in KCUR.org column on the “benefits and disadvantages of launching a startup in Kansas City.”
  • New MoneyDesktop Website Wins Multiple W3 Awards.
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.

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MoneyDesktop to Power Kasasa 360 Financial Management Platform

By Julie Muhn (@julieschicktanz) Posted on
Categories: BancVue, Kasasa, MoneyDesktop

KasasaMoneyDlogo.jpg

BancVue’s Kasasa 360 Financial Management platform received a bit of a upgrade recently, thanks to a partnership with PFM expert, MoneyDesktop.

By bringing together MoneyDesktop’s expertise in PFM with Kasasa’s national brand of rewards checking and savings, the two hope to drive account acquisition, account retention and increase cross-selling opportunities.

Kasasa360IMG.jpg

This union of two Finovate Best of Show-winning companies will give Kasasa 360 users the ability to track their finances across different financial institutions in one place and enable them to view their rewards tied to their Kasasa checking and savings accounts.

To get a better idea of the what each company has to offer, check out the live demo videos. Bancvue demonstrated Kasasa at Finovate 2009 and MoneyDesktop last demonstrated at FinovateFall 2013.

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Lending Club to Sell Loaning Through Community Banks

By Julie Muhn (@julieschicktanz) Posted on
Categories: Lending Club

LendingClubLogo.jpgP2P lending network, Lending Club, is changing the way it is viewed by traditional banks.

Now Lending Club is trying to cultivate another corner of the traditional financial industry by selling its loans to community banks that need to diversify their asset portfolios. It has agreements with seven small banks who buy loans that Lending Club originates and services, and who now account for almost 10% of its financing. The company is also working with some of those banks to make personal loans to their customers — a service that Lending Club and its partners see as an opportunity to compete with bigger banks like Citigroup (NYSE:C) and JPMorgan Chase (JPM) that dominate the credit card market.

One such institution using the new service is MainStreet Bank, which has been buying Lending Club loans since August. The bank, which has $272 million in assets and 5 branches, has purchased more than $7 million in loans from Lending Club, at $2 million in assets per month.

As of this month, the San Francisco-based company has made $3 billion in loans and is planning to expand into small business loans. 

Lending Club demonstrated at the very first Finovate in 2007 and at Finovate 2008. The company plans to go public next year.

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