Finovate Alumni News– November 5, 2013

  • Finovate-F-Logo.jpgLodo debuts D3 Consumer banking multichannel management platform.
  • App Annie’s Free Upgrade Brings Advertising and Analytics Onto a Single Platform.
  • CurrencyFair raises $2.5 million from Frontline Ventures.
  • TSYS introduces Merchant Insights to hep customers better monitor and analyze social media data.
  • ACI Worldwide announces completion of Official Payments acquisition.
  • Jim Marous’ Bank Marketing Strategy features Mitek in a discussion of “banking innovation for the fat-fingered.”
  • Local CBS affiliate in San Francisco highlights crowdfunding, real estate, and Realty Mogul.
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.

FinovateAsia 2013 Sneak Peek: Part 4

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FinovateAsia 2013 is coming to Singapore in just over one week. And, just in time, here are the final seven companies who will bring their live demos to the stage.

If you missed the previous three installments of our Sneak Peek preview series, check out the links below.

Our final event of 2013 is only a few weeks away. Get your ticket here to be a part of the audience.


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BehavioSec focuses on innovation in behavioral biometrics.
Features
    • Transparent biometrics for mobile and web 
    • Large deployments 
    • Cost effective, low impact security
Why its great:
BehavioSec provides biometric security with no user experience cost  

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Neil Costigan
Dr Costigan is a cryptography and security expert with over 20 years experience developing security solutions deployed with retail banking in the U.S. and Europe.

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GMC Software Technology’s Inspire Research Portal (IRP) for investors provides a single platform for users to access and replaces all manual processes to automation.
Features
    • Streamlining the process
    • Reducing human errors while increasing productivity
    • Ability to view research reports from multiple platforms
Why it’s great:
IRP will provide a centralized platform for both researchers and approvers to access and perform their job in an interactive and engaging way.  

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Matthias Kraaz
Matthias has been in the customer communication space for many years and is currently looking after all the technical operations of GMC in Asia Pacific.  
LinkedIn
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Kelvin Huang
Working as a Presales Manager in GMC for 2 years, Kelvin specializes in web and mobile communication and is equipped with years of experiences in financial industry.
LinkedIn

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Intuition Intelligence’s end-to-end card linked offers solution delivers super relevant offers to users from a huge volume of offers.

Features:
    • Brings a huge volume of offers from Open-coupon Networks
    • Solve Pains: Volume, Velocity, Variety, Vicinity, Visibility & Value
    • Win-win ecosystem for the Bank, Merchants and Customers
Why it’s great: By learning user intent in click time, we deliver the right offers at right moment via digital channels without spam and friction in pre-and post-login.  

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Arif Ansari
Keynote Speaker for Big Data and predictive analytics, expert in multiple areas of advanced intelligent systems and multiple patent holder.





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Yusuf Ansari
Entrepreneur with track record of achieving #1 market share, visionary in building iconic products and hands-on execution and product management.
LinkedIn


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KlickEx is the world’s most advanced multi-currency payments network – active in 8 countries, SWIFT and UNDP funded – and Asia’s top-ranked Mobile Money platform deployment.
Features:
    • Completed solution to distributed/”crypto”-currency value destruction
    • No need to dis-intermediate Central Banks or regulators
    • Implemented, asset-based store of value – full USD alternative

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Rob Bell
Rob and his award winning team turned the SWIFT and UNCDP funded, World Bank ranked, Pacific inter-bank payment network, into Asia’s top rated mobile money platform in 3 years. Ex HSBC, Stanford, NZX.
LinkedIn

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Brett Waterson
Brett is the multi-award winning architect behind many global trading and banking systems, including the NZ Police Database, and all four NZ bank credit card loyalty programs – and of course, KlickEx.
LinkedIn

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Mambu helps banks, microfinance institutions and financial innovators deliver banking services to individuals and emerging enterprises around the world.
Features:
    • Makes state-of-the-art banking technology accessible to all
    • Eliminates the costs and complexities of traditional core banking
    • Helps financial organisations get new products to market, fast
Why it’s great:
Mambu’s cloud-first Software-as-a-Service solution enables financial organizations of all sizes to rapidly deliver state-of-the-art banking services  

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David Hamilton, president of Mambu

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Eugene Danilkis, CEO and co-founder of Mambu
LinkedIn

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Payoneer simplifies global commerce by providing companies and businesses of all sizes with an innovative, convenient and cost effective solution to send and receive funds worldwide.
Features:
    • Global corporates can transfer funds to over 200 countries and more than 50 currencies 
    • Funds can be received on prepaid cards, local bank accounts, or even local e-wallets 
Why it’s great:
In a borderless world, Payoneer helps SMBs and professionals get paid with minimal friction and the convenience of choosing their preferred financial instrument.

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Oded Zehavi
As CRO, Zehavi is responsible for Payoneer’s sales, marketing and product activities. Prior to joining Payoneer, he served as business development director for PayPal.

TSYSLogoHiRes.jpgTSYSAuthorization Controls allows the a user to set one’s own default account parameters and authorization rules.
Features:
    • Spatiotemporal locks allow user to geo-fence their location
    • Authorization Rules allow you to define spend limits for defined cycles
    • Authorization actions the user to Alert, Decline or Pre-authorize
Why it’s great:
TSYS Authorization Controls reduce risk to the card issuer, merchant and consumer by monitoring transactions in real-time and enforcing responsible spending at the POS.  

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Paul Bridgewater
As Group Executive of Global Product, Paul is responsible for product strategy, product delivery, product marketing and TSYS Innovation across the company. 
LinkedIn

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Chris Colson
As the director of innovation for TSYS, Chris is an 18-year veteran of the payments and financial services industry, having previously served as vice president, product management, of Equifax.  

For more information about how to join us in Singapore, visit our FinovateAsia 2013 page here.

Finovate Alumni News– October 31, 2013

  • Finovate-F-Logo.jpgIntuit to acquire FullSlate, an online scheduling company.
  • Boku partners with PassportParking, enabling consumers to pay for parking using their mobile number, and billed to carrier billing statement.
  • American Banker comments on the savings strategies of SaveUp, Betterment’s ImpulseSave, and Social Money.
  • FIS study reports: Customer engagement in real-time payments requires mobility and convenience.
  • CurrencyFair featured in prime time on Irish television news.
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.

FinovateAsia 2013 Demo Companies Bring Global Innovation to Singapore

FinovateAsia is typically our most globally diverse show, and this year is no different. Two weeks from now, we will showcase 37 demos from companies spanning the globe that are innovating in everything from remittance to small business tools to back office solutions and much more. 

Given that diversity, we thought it would be fun put together a map showing the geographic spread of the demoing companies that will take the stage (click the map to enlarge).

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Here’s the breakdown of the number of companies from each region:

  • Asia: 12
  • Europe: 11
  • North America: 9
  • Africa: 1
  • Oceania: 2
  • Middle East: 2

To refresh your memory, the list of the companies that we’ve hand-picked to show off their new technology at the Max Atria @ Singapore Expo on November 14, include:

  • Advanced Merchant Payments
  • App Annie
  • Arkalogic
  • ArthaYantra
  • Backbase
  • BehavioSec
  • BlueKite
  • BRIDGEi2i
  • CustomerXPs Software
  • DragonWealth
  • GMC Software Technologies
  • i-exceed
  • IND Group
  • Intuition Intelligence
  • KlickEx
  • Kofax
  • LifePAD
  • Luminous
  • Mambu
  • Matchi
  • Mistral Mobile
  • Mobexo
  • Mobino
  • Pangea
  • Payoneer
  • Pixeliris
  • Red Zebra
  • SaaS Markets
  • Serverside
  • Smart Engine
  • TIBCO
  • Tootpay
  • TradeNet
  • TSYS
  • White Label Personal Clouds
  • Yodlee

To see live demos of the new technology, meet the entrepreneurs responsible, and network with others in the industry, get your ticket to FinovateAsia here. If you have questions about the show, check out who is attending or email asia@finovate.com.

Finovate Alumni News– October 30, 2013

  • Finovate-F-Logo.jpgPayments News reports: PayPal Launches Startup Blueprint Program.
  • miiCard’s new directory API powers member lookup services to easily confirm ID and expand confidence online.
  • EyeVerify featured in local broadcast on Kansas City’s tech community.
  • GoBank, Moven, and Simple highlighted in Bank Marketing Strategy column on simplicity and bank product proliferation.
  • TradeKing CEO Don Montanaro weighs in on the SEC’s crowdfunding approval announcement.
  • Check releases version 6.26 of their money management app for Android.
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– October 29, 2013

  • Finovate-F-Logo.jpgPayfone Brings in $10 Million from Early Warning Systems.
  • Promsvyazbank in Russia Launches PFM-Service, Powered by Meniga.
  • Payments Source: Fiserv Makes a Payments Play for Small Businesses.
  • FinovateAsia 2013 Sneak Peek: Part 3 is up.
  • Trejdify publishes an introduction to Quantopian.
  • GMC Software Technology opens office in Australia. Join them in Singapore next month for FinovateAsia 2013.
  • For the third consecutive year Deloitte nominates Trustly as 1 of Sweden’s Tech Fast 50 companies.
  • Pennsylvania’s Customers Bank embraces mobile bill pay via Mitek-powered PicturePay.
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.

Payfone Brings in $10 Million from Early Warning Systems

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Mobile security and authentication technology is always a topic of importance in fintech because fraud threats are continuously evolving.

Mobile commerce and authentication company Payfone announced this month that it raised $10 million, further proving that the need for mobile security technology will be around for awhile. The funding comes from Arizona-based Early Warning, and brings Payfone’s total funding up to almost $40 million.

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As a part of the deal, Payfone’s technology will be available to Early Warning’s clients.

To learn more about Payfone, watch its FinovateFall 2012 demo where it launched 1 Touch Checkout.

Finovate Alumni News– October 28, 2013

  • Finovate-F-Logo.jpgSwipely named one of America’s top job creators with 2013 ‘Hire Power’ Award from Inc. Magazine.
  • Wipro launches Mobility Center of Excellence with Kony in Hyderabad.
  • Tyfone trials smart card-based mobile banking security.
  • Locaid CEO Rip Gerber talks location verification services in new interview.
  • TipRanks launches Windows Phone mobile app.
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.

SEC’s Recent Vote May Ease Operating Restrictions for Nine Finovate Alums

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The U.S. Securities and Exchange Commission (SEC) this week unanimously voted to approve the proposed rules that will govern online crowdfunding. Under these provisions, companies will be allowed to offer and sell securities through crowdfunding.

Some of these companies have been waiting since early 2012, when Obama signed the JOBS Act, for the SEC to create the regulation, which is intended to protect private, non-accredited investors. 

Investors who earn under $100,000 per year will be limited to $2,000 per year investment, or 5% of their income, and those who make over that amount will be limited to invest 10% of their income annually. However, in order to reduce burdens on the companies raising the funds, and the funding portals, the new regulation does not explicitly require them to verify the income of the individual investors.

According to the SEC’s press release, its proposed rules would require SEC-registered intermediaries (broker-dealers, funding portals) to:

    • Educate investors
    • Manage the risk of fraud
    • Provide information about the issuer and the offering
    • Furnish communication channels
    • Facilitate the offer and sale of crowdfunded investments
The proposed rules would prohibit them from:
    • Offering investment advice or making recommendations
    • Soliciting purchases, sales or offers to buy securities 
    • Restricting compensation for solicitations
    • Holding, possessing, or handling investor funds or securities

Before the rules are passed, they must go through a 90-day comment period, after which, they may be altered to reflect the comments. Once the final rules have been decided, the nine Finovate alums below will be able to solicit to non-accredited investors, subject to the SEC’s final ruling.

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Founded: 2011

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Founded: 2012

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Founded: 2010

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Founded: 2010

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Founded: 2012

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Founded: 2012

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Founded: 2010

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Founded: 2012

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Founded: 2011
FinovateSpring 2012 demo

From an operational standpoint, life for these startups will be a bit easier after the SEC passes the provisions, since it will increase the number of investors on their platforms. They will, however, be faced with increased regulation, which Forbes estimates will cost more than $100,000 annually. This estimate includes procuring and offering disclosure documents, enlisting a funding portal, running background checks, and filing an annual report with the SEC.

The first provision of the JOBS Act, which allows companies to advertise to accredited investors, went into effect September 23.

Finovate Alumni News– October 25, 2013

  • Finovate-F-Logo.jpgCardFlight wins best startup at New Jersey Tech meetup.
  • Firmology interviews Jason Richelson, CEO of ShopKeep POS.
  • Humanitarian organization Oxfram partners with TransferWise to help British Indians avoid fees.
  • InComm launches Cashtie cloud match service.
  • Flint raises $6 million in Series B funding.
  • Taulia was recently announced as a 2013 Bully Award winner.
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– October 24, 2013

  • Finovate-F-Logo.jpgFiserv to offer clients Guardian Analytics’ FraudMAP solutions.
  • Lending Club CEO, Renaud Laplanche, named a winner of Ernst & Young’s Venture Capital Award of Excellence.
  • PayPal and Blackhawk Network join forces to bring gift card services to the digital wallet.
  • Manilla User Survey: Consumers Want Bills in One Place and Banks with Bill Management.
  • Payments, Mobile, Security, Social: A Look Ahead to FinovateAsia 2013.
  • Are Utilities Ready for Mobile BillPay? Industry Leaders Weigh-in via Check Survey.
  • Locaid featured in American Express Open Forum column on attracting mobile customers with geofencing.
  • SeedInvest “thrilled” by new rules proposed for equity crowdfunding.
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.

Dwolla to Offer Its Second Credit Product, a Cardless Credit Service Called Dwolla Cash

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Alternative payments company Dwolla took another step into the credit arena this week. Its recently-announced partnership with Alliance Data Systems resulted in the creation of a new credit service called Dwolla Credit.

It previously dabbled in the credit space with the launch of Instant two years ago. Instant is an opt-in feature that, for a monthly subscription of $3, lends users up to $5,000 for one month with no interest.

Through the recent partnership, the Des Moines-based startup will offer consumers and merchants a cardless credit product. Dwolla Credit users can spend advanced funds at any of the 40+ (and growing) ecommerce merchants in Dwolla’s online “Storefront.”

When shopping at participating Storefront merchants, Dwolla Credit users will be able to simply select the “Pay with DWOLLA” button, login, and complete their purchase. Transactions will cost merchants Dwolla’s traditional fee (25 cents per transaction, or free for transactions $10 and under). Merchants will receive funds instantly in their Dwolla account.

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Dwolla Credit is currently in beta, but users can request to be put on the wait list. The product will be available to the general public in early 2014.

To learn more about Dwolla, watch its FinovateSpring 2012 demo where it debuted FiSync.