Author: Julie Muhn (@julieschicktanz)

FutureAdvisor Launches Premium Service

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

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

Next up, FutureAdvisor launched its premium service:

“How they describe their product/innovation: FutureAdvisor Premium automatically manages your existing investment accounts to save on hidden fees, increase tax efficiency, and optimize for asset diversification. We do this by:
• Monitoring and rebalancing your account as necessary
• Recognizing and actively investing new cash additions
• Periodically completing tax-loss harvesting”
Product Launch: September 2013
Metrics: FutureAdvisor provides guidance to tens of thousand of investors who have securely connected their investment accounts.
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, & through other fintech companies and platforms

HQ: San Francisco, CA
Founded: May 2010
Twitter: @FutureAdvisor
Presenting Bo Lu (Founder & CEO) and Joe Cianciolo (VP Business Development)

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

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Interactions Launches Virtual Assistant for Financial Institutions

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

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Then, Interactions demonstrated how its Virtual Assistant can work for financial institutions:
“Voice-based Virtual Assistant applications for Financial Institutions can seamlessly provide callers access to balance, transaction history, and account information, however they can go a level beyond – allowing the caller to inquire into recent charges, dispute charges, ask complex questions about their accounts, enroll in promotions, change account information such as addresses and email accounts, register new cards, order replacement cards, report a card as lost or stolen . . . the list goes on.”
Product Launch: September 2013
Metrics: Raised over $100M to date with a recent $40M round led by SoftBank Capital
Product distribution strategy: Direct to Business (B2B)
HQ: Franklin, MA
Founded: 2004
Twitter: @interactionsco
Presenting Phil Gray (EVP Business Development) and Dan Fox (Marketing Director)

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

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miiCard Launches Identity as a Service (IDaaS)

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

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Next, miiCard showed its solution to help mitigate identity fraud in financial services:
“With identity fraud now accounting for over half of all fraud, it’s time to get serious about trust online. The future of financial services depends on truly trusted and traceable customer identities in the digital economy. See how sites are using miiCard’s Identity as a Service (IDaaS) to sell regulated and high value products in areas like banking, virtual currencies, payments, wealth management, and lending. At the same time learn how miiCard’s consumer-driven Bring Your Own Identity proves and protects the individual, while enabling endless possibilities for trusted exchanges for everything from finance, government, healthcare, recruitment, gaming to dating, and social networking.”
Product Launch: September 10, 2013
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: Edinburgh, Scotland, UK
Founded: September 1, 2011
Website: miicard.com
Twitter: @miicard
Presenting James Varga (CEO) and Magnus Bray (Sales Manager)

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

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Unleash Launches a Cloud CFO to Bring Financial Decision-Making Capabilities to Small Businesses

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

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Then, Unleash launched its Cloud CFO:
“Unleash is a Cloud CFO that helps small businesses make better decisions faster.
In addition to simplifying business intelligence and making it super easy to use, we’ve got a few proprietary tricks up our sleeve: 
        • Peer Index: showing business owners how they stack up against their competition 
        • uScore: a single business health indicator–think FICO for business health”
Product Launch: September 10 & 11, 2013
Metrics: Under 10 employees & bootstrapped funding
Product distribution strategy: Direct to Business (B2B)
HQ: San Jose, CA
Founded: February 2012
Website: unleash.us
Twitter: @UnleashApp
Presenting Insaaf Mohideen (Founder & CEO) and Ahmad Ibrahim (Business Development)
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The full demo video will be available at finovate.com in mid-September.

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DoubleBeam’s SDK Saves Merchants on Interchange Fees by Using eChecks

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

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Then, DoubleBeam demonstrated how it can save merchants on interchange fees:
“Our SDK for iOS and Android is an ingredient that runs inside other mCommerce applications. It links users’ bank accounts just by taking a picture of a blank check, then can store that information to process low-cost eChecks as a method of payment, saving merchants up to 80% off the cost of credit card interchange fees. It is being leveraged in pure mCommerce applications as a method to reload stored value accounts, and in brick and mortar retail apps where it also improves visibility into customer behavior for improved marketing ROI.”
Product Launch: January 2013
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Pasadena, CA
Founded: August 2011
Twitter: @doublebeaminc
Presenting Ted Tekippe (CEO) and Avi Lichtschein (VP Business Development)

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

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CoverHound Unveils a Quick Way to Request a Cost Estimate for Car Insurance

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

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This post is part of our live coverage of FinovateFall 2013.
CoverHound is up next to demo a fast and unique way that users can receive an insurance estimate:
“CoverHound now lets you request a car insurance estimate just by Tweeting” 
Product Launch: September 10, 2013
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
Metrics: $6.5M raised & 23 employees

HQ: San Francisco, CA
Founded: May 2010
Twitter: @CoverHound
Presenting Basil Enan (CEO) and Keith Moore (CMO)

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

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SpearFysh’s Note Taking App Helps Salespeople Stay Organized

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

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Afterwards, SpearFysh demonstrated how its app can improve the note-taking experience during and after sales calls.
“Our Intelligent Note-Taking App helps a salesperson execute a pre-loaded agenda of a sales call that they see on the tablet screen during note-taking. In addition, it allows the salesperson to take notes, capture audio of the conversation, and tag critical data for 100% recall of the “voice of the customer” and sales process analytics. 
Our Web App enables interaction sharing with everyone at the organization that is involved in the sales process. Sales call data and the “voice of the customer” is converted from speech to text, indexed, and mined for sales intelligence to improve coaching and executive decision-making.”
Product Launch: May 2013
Metrics: $3.18M raised to date, 12 FTE, pre-revenue
Product distribution strategy: Direct to Business (B2B)
HQ: Twinsburg, OH
Founded: May 2011
Website: spearfysh.com
Presenting Marc Miller (CEO) and Greg Pacholski (President)

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

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With the Akimbo Card, Users Can Make P2P Payments with a Prepaid Card

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

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This post is part of our live coverage of FinovateFall 2013.
Then, Akimbo stepped up to the stage to show its prepaid P2P payments solution:
“Akimbo is reinventing the allowance with a card that delivers money anytime, anywhere. Akimbo offers free and instant money sharing, and each Akimbo member can create up to 5 sub-cards for kids, students, friends, staff or anyone. Cardholders can link bank accounts and set up automatic allowances to sub-cards or any other Akimbo member. 
The Akimbo Card provides immediate access to sent funds everywhere Visa debit is accepted and at ATMs. Cardholders can access and manage their account and sub-cards from any mobile, tablet, or desktop device using our HTML5, adaptive-display web app, or native iPhone app.”
Product Launch: March 2013 (New Platform: August 2013)
Metrics: Raised $2.2M to date, 12 employees, 20,000+ users
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: San Antonio, TX
Founded: January 22, 2010
Twitter: @akimbocard
Presenting Houston Frost (CEO)

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

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Yseop Debuts New Financial Suite

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

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Then, Yseop demonstrated how its Financial Suite can facilitate the report-writing process:
“Yseop Financial Suite, the latest round of financial applications developed on Yseop’s technology, is designed to boost sales performance in the financial market. This suite of products covers the full range of possibilities offered by Yseop’s text-generating software: including an online personalized expert guidance application for lead generation, whose output can be displayed in multiple languages and a prep-to-meeting report, which demonstrates Yseop’s ability to improve sales productivity in retail or commercial banking. Finally, a third application will show our ability to generate a two-page market summary report based on the latest financial data instantly.”
Product Launch: January 2013 (latest version)
Metrics: Privately self-funded. Over 20 years of research to develop the technology. First commercialized as a middleware in 2008. 25 employees. 30 large customers with 20,000 users in production daily in the banking & insurance industries. Demonstrated improvement in sales productivity of 20% overnight. Recently signed a deal to deploy Yseop technology for over 25,000 users at another large financial institution. 
Product distribution strategy: Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: New York, NY, Dallas, TX, & Lyon, France
Founded: 2008
Website: yseop.com
Twitter: @yseopai

Presenting Elizabeth Farabee (VP Marketing) and Matthew Kropp (Director, Marketing & Sales)

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

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BizEquity Takes on the Business Valuation Market

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

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Next, BizEquity demonstrated how it helps businesses discover, manage, and optimize their value:
“There are more than 28M business owners in the US – 75% don’t know what they are worth and 50% are under-insured. The market for business valuation is a $2.8B dollar market, with 99.7% being conducted offline at $8,000 per report and taking up to 6 weeks.  
BizEquity has revolutionized the market by putting it online helping to enable more businesses to discover-manage-and optimize their value. BizEquity helps every financial institution help business owners better understand their value and what they can do to better protect themselves.”
Product Launch: July 2012
Metrics: With more than 50,000 users & over 12 private label channel partners to date, 60 patents & inventions filed, 2 patents granted already, & over 3 years of technology development & $7M invested into building the system, BizEquity has become the first & leading cloud-based business valuation service.
Product distribution strategy: Direct to Businesses online at BizEquity.com and indirect via the channel and private label agreements with leading financial and data institutions.
HQ: Wayne, Pennsylvania
Founded: May 2010
Product Demoed: BizEquity Valuation Engine and VaaS™ Cloud Service
Website: bizequity.com
Presenting Michael Carter (CEO) and Semyon Fishman (VP Product Engineering)

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

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FinanceIt’s New iPad App Gives Borrowers Instant Loan Approval at the Point-of-Sale

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinanceIt, FinovateFall 2013
This post is part of our live coverage of FinovateFall 2013.
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FinanceIt demonstrated how its technology provides consumer financing at the point-of-sale:
“FinanceIt iPad App with ID scan instant approvals and borrower facing online application form that merchant Partners can embed anywhere.”
Product Launch: January 2011
Metrics: FinanceIt has over 2,500 merchant partners who have processed over $400M in loan volume since launch. There are currently 40 employees and we have raised $8M. We are closing a $10M to $13M US expansion round this year.
Product distribution strategy: SEO, SEM, Trade Advertising, Partnerships, Sales, Business Development, & PR
HQ: Toronto, ON, Canada
Founded: January 2011
Website: financeit.ca
Presenting Michael Garrity (CEO), Casper Wong (COO), and Paul Sehr (CTO)
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The full demo video will be available at finovate.com in mid-September.

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Instabank Debuts Mobile-Only Bank

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

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Next, Instabank demonstrated the capabilities of its mobile-only bank:
“Instabank is a mobile-only bank. Instabank’s main goals are to: Help people enjoy the simplicity of managing their bank account, bring the social aspect into the area of personal finance, unlock viral growth in user acquisition, and become the Dropbox of retail banking. 
Key features: Real-time activity stream, add comments, photos, and Foursquare venues to purchases, send money to Facebook friends, send money to nearby Instabank users, up to 10% APR for checking accounts, ATM map showing distance to nearest free ATM, bill pay, share purchases on Facebook, search purchases using keywords, split a bill with friends, design your own debit card using Instagram photos, and PFM with expense category statistics and analytics.”
Product Launch: April 2013
Metrics: Thousands of users a few months after launch.
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: Prague, Czech Republic
Founded: August 2012
Website: instabank.eu
Twitter: @instabankru

Presenting Roman Potemkin (Co-Founder & CEO) and Alexey Shelestenko (Head of Marketing)

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

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