Yodlee Launches Tandem App Internationally

This post is part of our live coverage of FinovateAsia 2013.

YodleeLogo2012.jpgNext, Yodlee took the stage to debut its Tandem app:

“Most people have multiple “shared finances” in their life. Spouses. Children. Elderly parents. Accountants. Advisors. Friends. So Yodlee is introducing Tandem – the first collaborative financial app that lets users securely establish and manage their social financial relationships. 
From tagging transactions, to sharing documents, to sending money, to collaborating with advisors and accountants, Tandem gives users the power to establish financial circles based on levels of trust and account sharing access. And Tandem gives financial institutions the ultimate mobile banking app.”

Presenting Katy Gibson (VP, Applications) and Melanie Flanigan (Head of Marketing)
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Product Launch: November 2013 (international)
Metrics: Yodlee is a global financial leader with 600+ customers, 50M+ users, and more than 700 employees worldwide. From leading financial institutions to Fortune 500 consumer service companies to the coolest startups, Yodlee powers innovative digital services shaping the future of customer interactions. With 25%+ year over year revenue growth, Yodlee continues to expand in existing and new markets globally.
Product distribution strategy: Direct to Business (B2B), through financial institutions & through other fintech companies and platforms
HQ: Redwood City, CA, USA
Founded: February 1999
Website: yodlee.com
Twitter: @yodlee

Pixeliris’ CopSonic Uses Sonic Communication to Create a Universal, Contactless Mobile Payment Solution

This post is part of our live coverage of FinovateAsia 2013.

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Then, Pixeliris stepped up to demo its universal mobile payment solution:
CopSonic is the first universal contactless mobile payment system powered by our unique technology. It is based on sonic communication transiting through the devices’ speakers and microphones. Therefore, our technology is compatible with 100% of existing phones and smartphones, unlike NFC technologies. Several patents have been filed with regard to the security of the transaction.
Our technology also allows the use of phones and smartphones for online passwordless authentication. It turns mobile devices into security dongles.
We have developed an SDK with our technology that allows third-party companies to integrate the modules and, therefore, create a business model based on transaction fees or licenses.”

Presenting Emmanuel Ruiz (CEO & Head of Innovation) and Brian Roeten (Senior Product Manager)

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Product Launch: September 2013
Metrics: €210,000 in capital, 11 employees in France & 50 engineers around the world
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, and licensed
HQ: Montauban, France
Founded: April 1989
Website: copsonic.com

Kofax’s Solution Uses Multiple Channels to Enhance the Underwriting Process

This post is part of our live coverage of FinovateAsia 2013.

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Next, Kofax showed how its omni-channel solution accelerates and enhances the underwriting process:
“Kofax is demonstrating how lenders can engage borrowers directly on mobile devices enabling them to interact with the loan origination process. Specifically when loans are not in good order and trailing documents are required, the solution engages customers providing them multiple channels to accelerate and supply the complex underwriting process. 
While mobile is the preferred channel, an omni-channel approach is realized using web, email, or fax. Additionally as these supporting documents are processed, analytics technology provides real-time dashboards and visibility across channels of customer engagement and adoption highlighting patterns, trends, bottlenecks, and efficiencies for right channeling customers and improved decisions.”
Presenting Drew Hyatt (SVP Mobility) and Dimitri Snowden (Visual Strategist)
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Product Launch: March 13, 2013
Metrics: Subsidiaries: 30 countries, Employees: >1,200, Channel Partners: 800+, Products: Available in 70+ countries, Customers: 20,000+, London Stock Exchange: KFX, Revenue: $262.5M, Adjusted EBITA: $48.5M, Adjusted Diluted EPS: $0.38, Cash: $81.1M
Product distribution strategy: Direct to Business (B2B)
HQ: Irvine, CA, USA
Founded: 1985
Website: kofax.com

Payoneer’s Commercial Account Gives Businesses and Individuals Global Access to Their Funds

This post is part of our live coverage of FinovateAsia 2013.

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Then, Payoneer debuted its commercial account:
“The Payoneer commercial account offers businesses and individuals worldwide the ability to receive funds from a global network of corporate companies. Account holders have a variety of tools to access their funds, including low cost withdrawals to bank accounts worldwide, a Prepaid Debit MasterCard card that enables instant spending and ATM access, and options to transfer funds to local eWallets in select countries. 
The account can be managed from the Payoneer website or from a mobile application. Registration for the account is available via Payoneer’s website or directly from the website of companies that form the Payoneer commercial funds transfer network.”
Presenting Oded Zehavi (Chief Revenue Officer)

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Product Launch: October 2013
Metrics: 200+ employees, 1,000 Alexa, $40M+ in revenues for 2012
HQ: New York, NY, USA
Founded: 2005
Website: payoneer.com
Twitter: @Payoneer

Matchi Debuts its Global Innovation Community

This post is part of our live coverage of FinovateAsia 2013.

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Second up, Matchi launched its global innovation community platform:
“A global community innovation platform for the financial services industry that offers market ready banking innovations from across the globe and collaboration opportunities that have the potential to save the banks millions of dollars in development costs.”
Presenting Warren Bond (CEO, Matchi) and Gerrit Hoekstra (Chief Technology Officer)
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Product Launch: November 14, 2013
Metrics: Privately owned company with 10-50 employees
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: Hong Kong, China
Founded: 2013
Website: Matchi.Biz
Twitter: @matchi.biz

Bill.com Rakes in $38 Million in Series E Funding from Long List of Investors

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Bill.com, the company that brings online invoice, cashflow management, and bill pay solutions to its 275,000 users announced today that it raised $38 million in Series E funding.

Among the many investors in this round are:

    • American Express
    • August Capital
    • Bank of America
    • Fifth Third Capital
    • Peter Knight, founder of CheckFree (acquired by Fiserv in 2009)
    • Scale Venture Partners

This funding, combined with Bill.com’s previous rounds, brings the Palo Alto-based company’s total funding to over $70 million.

Bill.com, which manges more than 10 million bills per year worth more than $12 billion, will use the new installment to enhance its growing banking channel and accelerate its payments network.

Bill.com demonstrated its CashView product at FinovateSpring 2012.

An Exclusive Look at Arbor Ventures, an Asia-Focused VC Firm

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In preparation for FinovateAsia November 14, we wanted to provide some insight into the region’s venture capital scene. Here’s what we learned from Melissa Guzy, Founder and Managing Partner for Arbor Ventures.

Arbor Ventures is a Hong Kong-based venture capital firm with roots in the Silicon Valley. The firm invests in companies based in Singapore, Hong Kong, and ASEAN regions, whose focus is in up-and-coming topics such as:

    • Big Data
    • Cloud Computing
    • Financial Technology
    • Collaborative Consumption

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Finovate: Arbor Ventures is focused on the Asia market. How is the Venture Capital environment in Asia different from that of the U.S. and Europe?

Guzy: The market in Asia is quite different than the US and Europe and China is different from the rest of Asia in terms of venture capital and market opportunities. In Asia, we are looking for entrepreneurs that can understand the local 

opportunity, the business environment as well as scale across the region.

Finovate: What are some current trends in Asia-based fintech? 

Guzy: We have a large under served and under banked population so areas such as prepaid cards, remittances, cross border brokerage and FX are some of the most interesting areas for innovation.
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Finovate: Where do you see financial technology evolving in Asia in the next 5 years? 

Guzy: Over the next 5 years, the convertibility of the Chinese Yuan will continue to drive change across the region as well as the formation of the AEC (ASEAN Economic Community) in 2015. The technology to support mobile banking, payments, and money transfers as well as cross border transactions are going to be transformed.
Finovate: What 3 solid pieces of advice can you provide Asia-based fintech companies seeking investment?  

Guzy: It is the same advice that you would provide anywhere to a start up, build a solid team and understand the market pull and what is needed before spending large sums of money on a product or service. Start ups especially in ASEAN need to spend wisely since there is a shortfall of Series A and Series B funding in the region so entrepreneurs need to aware of this issue when developing their funding requirements early on.
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If you’re interested in fintech in the Asia Pacific region, we hope to see you at FinovateAsia in a few days.

Finovate Alumni News– November 8, 2013

  • Finovate-F-Logo.jpgadesso to sell & implement Backbase’s Customer Experience Platform in Germany, Austria & Switzerland.
  • ValidSoft announces appointment of Paul Burmester as CEO. Pat Carroll to assume role of Executive Chairman.
  • Fidor Bank expanding into Russia through a joint venture Life.Sreda.
  • Numbrs, Kofax make American Banker’s “Top 10 FinTech Companies to Watch” roster.
  • Intuit announces partnership with American Express to support receipt data integration to QuickBooks.
  • La Caixa launches social network for its investors, StockTactics.
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.

Finovate Alumni News– November 7, 2013

  • Finovate-F-Logo.jpgAmerican Banker reports: Bill.com Updates Banking Platform.
  • FIS, Fiserv, BancVue, & IND Group included in 2013 FinTech 100 rankings.
  • U.S. News and World Report wonders if FlexScore will replace credit scores.
  • Leaf earns a spot on BostInno’s “50 on Fire Finalists for Tech”.
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.

Check Out FinovateAsia 2013’s Diverse Audience

If you’re coming to FinovateAsia next week, you’ll be rubbing shoulders with a wide-ranging crowd. For next week’s show, attendees will fly in from as far away as South America and the U.S. (check out the map here). 

These folks represent a range of organizations, from high-profile bank and venture capitalist executives, to small startups and independent bloggers. Here is a word cloud we created from the titles of FinovateAsia attendees:

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And a small sample of the organizations that will be attending:

  • American Express
  • ANZ
  • Bank BTPN
  • Bank of Singapore
  • Bank Respublika
  • BOC Group Life Assurance
  • Citi Ventures
  • Credit Suisse
  • IDC Financial Insights
    • i-exceed
    • IND Group
    • INSEAD
    • Intel Capital
    • Javelin Strategy & Research
    • Maybank
    • Microsoft
    • OCBC
    • RBS
  • S&P Capital
  • Security Bank
  • Singtel
  • Standard Chartered
  • Suncorp Bank
  • TMB Bank
  • UBS
  • United Overseas Bank
  • Visa

Don’t miss out on being a part of this diverse audience and seeing what your competition is up to. Get your ticket here

Finovate Alumni News– November 6, 2013

  • Finovate-F-Logo.jpgMarketWatch mentions BrightScope and FutureAdvisor as two ways to enhance your retirement portfolio.
  • Quippi to use PayNearMe to enable cash payments for its international gift cards.
  • MoneyDesktop launches Client Services product to offer employee training, marketing, tech support & other services to increase ROI PFM investment.
  • Atlanta-based Cardlytics opens first NYC office.
  • The Guardian mentions SumUp in its review of popular mobile apps for business.
  • Finovate alums FIS, Fiserv, ACI Worldwide, Jack Henry Banking, and Temenos earn spots on IDC Financial Insights tenth annual FinTech 100 list.
  • PandoDaily takes a look at Netswipe 2.0, Jumio’s payment card scanning solution.
  • Celent reviews Comarch Wealth Management Platform.
  • Ignite Sales launches mobile recommendation guides to accelerate bank customer on boarding.
  • Multicom announces partnership with pre-paid virtual card provider, Ixaris.
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.

App Annie’s Free Upgrade Brings Advertising and Analytics Onto a Single Platform

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App Annie is bringing users an all-in-one platform that displays advertising and analytics alongside one another.

The Beijing-based company launched a free upgrade to its analytics platform today, with the initiation of two major changes.

First, it launched 22 new, integrated reports that display key metrics intended to improve business decisions. Charts with revenue, spending, install data, and more can all be shared with colleagues and external parties.

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It also announced support for seven major ad networks:
    1. AdMob
    2. Chartboost
    3. iAd (including iAd Network and iAd Workbench)
    4. Jumptap
    5. MdotM
    6. Tapit!
    7. TapJoy
It plans to add support for even more in the coming months.

Come see App Annie demo its latest development live in Singapore at FinovateAsia on November 14. Get your ticket here.