Author: Julie Muhn (@julieschicktanz)

SECOM GMixon Pixeliris Uses Sonic Communication to Create a Universal Contactless Mobile Payment System

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, SECOM GMixon Pixeliris
This post is part of our live coverage of FinovateFall 2013.

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Beginning the final session of FinovateFall, SECOM GMixon Pixeliris demonstrated its universal, contactless mobile payment system:
“Pixeliris Labs’ unique contactless technology allows us today to create the first universal contactless mobile payment system. Based on sonic communication, our technology is compatible with 100% of existing phones and smartphones unlike NFC technologies which are compatible with only 5% of the smartphones and incompatible with phones. 
Several patents have been filed with regard to the security of the transaction. We have developed this technology into a SDK as to allow third companies to integrate the modules aiming a business model based on transaction fees.
With Copsonic, pay anywhere with any phone.”
Product Launch: September 2013
Metrics: Company with a capital of €210,000, 11 employees in France, & 50 engineers around the world
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, & licensed
HQ: Montauban, France
Founded: April 1989
Website: copsonic.com
Presenting Brian Roeten (Senior Product Manager) and Emmanuel Ruiz (CEO & Head of Innovation)
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The full demo video will be available at Finovate.com in mid-September.

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Fiserv Debuts Popmoney Instant Payments

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Fiserv
This post is part of our live coverage of FinovateFall 2013.

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Next, Fiserv stepped up to demo how it can help financial institutions provide a real-time payments solution to their clients:
“Financial institutions are challenged to meet the ticking clock of consumer expectations for a real‐time payments experience. The Popmoney personal payment service from Fiserv fulfills that need with Instant Payments, a new value-added feature offering real-time delivery of funds.
Popmoney lets people send, request, and receive money using an email address or mobile phone number. Traditionally, Popmoney has only been able to deliver payments via the ACH network, which works great for most payments. Funds settle in 1 to 3 business days. 
The Instant Payments feature, which is now available for financial institutions, uses the debit card networks to deliver funds in real-time – 24/7, 365 days a year. Recipients have access to funds literally in seconds.”
Product Launch: April 2013
Metrics: 2012 revenue: $4.4B, 2012 net income: $611M, about 20,000 employees worldwide, 6,000 account processing clients, & 16,000 financial institutions and businesses worldwide
Product distribution strategy: Through financial institutions and direct-to-consumer
HQ: Brookfield, WI
Founded: 1984
Website: fiserv.com
Twitter: @Finovate

Presenting Andrew Barnett (Sr. Mobile Solutions Consultant) and Neil Platt (SVP & General Manager, Payments)

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The full demo video will be available at finovate.com in mid-September.

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BehavioSec Uses Policy-Based Behavior to Authenticate Users

By Julie Muhn (@julieschicktanz) Posted on
Categories: BehavioSec, FinovateFall 2013
This post is part of our live coverage of FinovateFall 2013.

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Next, BehavioSec demoed its user-friendly authentication technology:
“BehavioSec has spotted the gap between user-friendly adaptive user authentication via risk-based authentication, or behaviour biometrics, and the reality of legacy systems at our current customers.
BehavioSec extended its award winning BehavioWeb and BehavioMobile solutions to offer policy-based behaviour authentication actions.
This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user.”
Product Launch: September 2013
Metrics: 1.5M€, 10 employees, university spin out

Product distribution strategy: Through financial institutions, through other fintech companies and platforms, & licensed.

HQ: Stockholm, Sweden
Founded: May 2009
Twitter: @behaviosec
Presenting Neil Costigan (CEO)

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The full demo video will be available at finovate.com in mid-September.

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QuarterSpot’s Underwriting Platform Offers Small Businesses Lower Cost of Capital

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, QuarterSpot
This post is part of our live coverage of FinovateFall 2013.

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Next, QuarterSpot showcased its unique underwriting platform:
“QuarterSpot’s innovative Artificial Intelligence-driven underwriting platform can incorporate millions of pieces of real time data from business bank accounts, business credit profiles and more to execute a pre-approval decision in milliseconds. The QuarterSpot AI is also able to learn on the fly by monitoring loan repayment and trends to improve its scoring and approval terms in real time. 
Through this use of AI-driven underwriting and as one of the only online lenders to amortize interest, QuarterSpot offers small business owners a cost of capital as much as 85% lower than other lenders and does not require personal collateral to secure loans.”
Product distribution strategy: Direct to Business (B2B)
HQ: Wayne, NJ
Founded: April 2011
Presenting Adam Cohen (CEO) and Lance Emanuel (President & COO)
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The full demo video will be available at finovate.com in mid-September.

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Mitek Debuts Mobile Photo Account Opening

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Mitek
This post is part of our live coverage of FinovateFall 2013.

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Then, Mitek showcased its Mobile Photo Account Opening solution: 
“Mitek’s new Mobile Photo Account Opening solution enables financial institutions to take advantage of mobile for customer acquisition by reducing the friction for users with mobile imaging. The engaging user experience will attract digital natives and mobile first then retain them throughout their financial life. 
The user simply takes photos of personal and financial documents instead of entering information on a device keypad. This greatly reduces the time and effort required by the user to open and fund an account on a mobile device. Mitek’s Mobile Photo Account Opening provides flexible deployment options and seamlessly integrates with FIs’ existing account origination and identity verification providers.”
Product Launch: Q4 2013
Metrics: Mitek (MITK) is publicly traded on NASDAQ
Product distribution strategy: Direct to Business (B2B)
HQ: San Diego, CA
Founded: 1986
Twitter: @miteksystems

Presenting Michael E. Diamond (CRO) and Wes Wilk (Sr. Director, Sales Engineering)

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The full demo video will be available at finovate.com in mid-September.

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Simple Verity Launches Automated Small Business Credit Verification Process

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Simple Verity
This post is part of our live coverage of FinovateFall 2013.

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Then, Simple Verity launched its credit verification process for small businesses:
“Simple Verity is a fully automated small business credit verification process. The system can produce a reliable credit report on any small business in America – including the millions of businesses with little or no data on file at the major bureaus. 
Using a social approach and proprietary analytics, SimpleVerity elevates small business credit from uncertainty and risk into the light of consistent, data-driven analysis.”
Product Launch: September 2013
Metrics: 1000 business references in private beta, $250,000 raised, 3 employees
Product distribution strategy:  Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: Seattle, WA
Founded: June 2012
Twitter: @simpleverity
Presenting Randall Lucas (CEO & Co-Founder) and Jeff Pecor (Marketing)
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The full demo video will be available at finovate.com in mid-September.

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Innovation Agency Launches Innovation Café, a Platform to Engage Innovation Communities

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Innovation Agency
This post is part of our live coverage of FinovateFall 2013.

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Then, Innovation Agency demonstrated its platform that facilitates collaboration around ideas and innovation:
“Innovation Café is an advanced crowdsourcing innovation platform for companies to engage their innovation communities. It is highly configurable and is able to provide for both private and public ecologies as well as emergent and structured innovation approaches. Innovation Café is a lightweight platform with advanced white labeling and custom theme capabilities and the ability to integrate with SharePoint, HR and other systems to provide detailed reporting. It is able to deal with a high volume of users and ideas and has a sophisticated social ranking and rating mechanism. 
Crowdsourcing and community collaboration pay attention to business objectives that are focused through idea challenges. Social Media Integration and Social Network Analysis releases are our primary focuses at FinovateFall. These innovations provide a comprehensive mechanism to track public sentiment and include it in the internal innovation community.”
Product Launch: September 2013 at FinovateFall
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), & through other fintech companies and platforms
HQ: New York, NY
Founded: December 2008
Twitter:@InnovationInfo
Presenting Christoph Wertz (President) and Sean O’Reilly (CTO)

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The full demo video will be available at finovate.com in mid-September.

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Jumio’s Netverify Now Enables MultiDocument Validation and Facial Recognition

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Jumio
This post is part of our live coverage of FinovateFall 2013.

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Next, Jumio debuted enhancements to its Netverify solution:
“Our solutions have already launched with continued iterations resulting from ongoing customer feedback. Enhancements to Netverify including facial recognition, multi-document validation, and other features to further fit specific business needs and use cases will be showcased at FinovateFall 2013.”
Product Launch: 2012
Metrics: Over 100 customers & growing
Product distribution strategy: Direct to Business (B2B)
HQ: Palo Alto, CA
Founded: 2010
Website: jumio.com
Twitter: @jumio
Presenting Mike Orlando (CSO) and Emilio Disanluciano (Sr. Business Development)

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The full demo video will be available at finovate.com in mid-September.

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LearnVest Debuts iPad App and Action Program

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, LearnVest
This post is part of our live coverage of FinovateFall 2013.

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Up next, LearnVest demonstrated the functionalities of its new iPad App:
“LearnVest is debuting an iPad App, which will allow clients to access their custom Action Program on the go. This App brings an unprecedented level of mobility to the financial planning process. Not only will clients be able to see their plan and individual CFP-issued challenges, they will also be able to access LearnVest’s Money Center tool for a snapshot of their entire financial life.”
LearnVest will also debut a new distribution channel (“Workplace Solutions”) to provide financial wellness solutions in the workplace, allowing employers nationwide to give their employees access to LearnVest’s holistic financial planning services.”
Product Launch: Fall 2013
Metrics: $41M raised & 100 employees
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: New York, NY
Founded: Fall 2009
Website: learnvest.com
Twitter: @LearnVest
Presenting Alexa von Tobel (Founder & CEO) and Karim Naraghi (VP Business Development)
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The full demo video will be available at finovate.com in mid-September.

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Dynamics Showcases its Solution to Gamify Your Checking Account

By Julie Muhn (@julieschicktanz) Posted on
Categories: Dynamics, FinovateFall 2013

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This post is part of our live coverage of FinovateFall 2013.
Then, Dynamics took the stage:
“Dynamics brings a new solution to stimulate fee income from  checking accounts in a post-durbin world. It aims to convert cash-heavy consumers to a prepaid card by drawing them in with a real-time rewards-based platform. This brings them directly to POS, driving value through interchange.”
Product Launch: September 2013
HQ: Pittsburgh, PA
Founded: September 2007
Twitter: @DynamicsInc
Presenting Jeff Mullen (CEO, Dynamics), Jonathan Beaver (Chief Architect, Dynamics), and Brandon F. Nowac (Team Leader Prepaid Cards, Key Corporate Bank)

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The full demo video will be available at Finovate.com in mid-September.

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Lighter Capital Unveils Loan Analysis and Monitoring Program

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Lighter Capital
This post is part of our live coverage of FinovateFall 2013.

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Then, Lighter Capital took the stage to demo its unique lending platform for small businesses:
“Lighter Capital has developed the first small business lending platform to integrate CRM data and predict a borrower’s future performance. In addition to automatic integration of accounting and banking data, which provides “rearview mirror” information, Lighter Capital is the first company to seamlessly integrate CRM data to forecast the future performance of small businesses, providing lenders a “windshield” perspective on borrowers. 
By crunching key sales, opportunity and customer data, Lighter Capital’s technology improves underwriting and borrower monitoring, predicting financial instability months before it shows up in financial statements.”
Product Launch: September 2013
Metrics: $6M raised to date, 10 employees, 30 loans issued, average investment $200,000
Product distribution strategy: Direct to Business (B2B), through financial institutions, & licensed
HQ: Seattle, WA
Founded: June 2010
Twitter: @lightercapital

Presenting BJ Lackland (CEO) and Molly Otter (CIO)

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The full demo video will be available at finovate.com in mid-September.

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Cardlytics Debuts Geolocation Functionality Within Targeted Offers

By Julie Muhn (@julieschicktanz) Posted on
Categories: Cardlytics, FinovateFall 2013
This post is part of our live coverage of FinovateFall 2013.

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Up next, Cardlytics demonstrated its new geolocation technology:
“Cardlytics will demonstrate our new geo-locator technology that empowers our partner banks’ customers to receive ads and offers based on their recent purchase behavior, no matter where they are in the U.S.”
Product Launch: Q1 2014 (tentative)
Metrics: Cardlytics is a private company with nearly 250 employees. We’ve raised nearly $100M from venture capital and private investors and we serve ~30M customers per month through partnerships with nearly 400 financial institutions across the US.
Product distribution strategy: Through financial institutions
HQ: Atlanta, GA
Founded: 2008
Twitter: @cardlytics
Presenting John Brown (EVP Financial Institutions)

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The full demo video will be available at finovate.com in mid-September.

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