FinovateSpring 2013 Sneak Peek: Part 5

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For our final sneak peek of FinovateSpring demoing companies, seven companies have provided some insight into the products they will demo next week at FinovateSpring in San Francisco.

Don’t miss the previous sneak peek posts:

If you haven’t already, be sure to get your ticket for FinovateSpring. It’s happening May 14 & 15 in San Francisco.

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authenticID’s True Identity Made Simple identity proofing solutions work worldwide and our pictureID tool is 100% accurate – a claim no other identity company can make.
Features:
    • pictureID can eliminate ID fraud
    • Fraudsters can’t beat pictureID – without a costume
    • Better customer service & compliance
Why it’s great: pictureID is the only 100% accurate identity proofing solution and it provides added security by producing a picture of the true ID owner.
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Finovera is reinventing how people manage their bills, accounts and financial documents at home. It is a perfect complement to Online Banking and Bill Pay service.
Features:
    • Automatic delivery of all Bills in one file cabinet
    • Alerts when a bill is unusually high
    • Organize your life in under 10 minutes
Why it’s great: Now households can go paperless and manage all their bills and financial documents in one secure place from anywhere.
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Kofax enables customer acquisition directly from the mobile device and recognizing the importance of consumer engagement, Kofax will demonstrate on-boarding for an impactful customer experience.
Features:
    • Meet and service customers via mobile channel 
    • Reduce operating costs and minimize drop-off rates
    • Increase growth and profits
Why it’s great: Kofax Customer Onboarding improves the agility and profitability of your bank’s customer on boarding processes by engaging customers via mobile devices.

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LendUp is the creator of the LendUp Ladder, an innovative program that uses small dollar loans to provide a path out of the payday lending debt trap and help borrowers build credit.
Features:
    • LendUp Ladder: Rehabilitate Declined Credit Applications
    • LendUp Education Program
    • Gamification Credit Building
Why it’s great: The LendUp Ladder helps create better credit customers
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NICE Mobile Reach complements mobile banking to redefine mobile customer service. Capitalize on mobile opportunities: engage, connect, Collaborate!
Features:
    • Intelligently engage customers
    • Seamlessly transition to the right channel with context
    • Effectively collaborate for resolution
Why it’s great: The ultimate mobile customer experience: ensuring every customer need is resolved, even when mobile self-service is not enough!

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Trusted Knight’s Protector software defeats key-logging and web-inject (MITB) attacks against employee and customer devices so that online transactions are safe from malware.
Features:
    • Quick and easy customer install — no impacts/issues.
    • Effective against even zero-day exploits.
    • 70% customer opt-in rate in
Why it’s great: Allows business to safely interact with malware-infected devices.
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Zooz is the people-first payment platform that will boost your conversion.
Features:
    • Optimized native checkout for m-commerce apps 
    • One tap payment across different apps
    • Multiple payment methods in one SDK
Why it’s great: Payments are for people and we’re here to give the human touch. When your users feel happy and secure they’re more likely to make it to the “Thank You” page.
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For more information on attending, see our FAQ. To register, visit our FinovateSpring page here.

What’s New in the FinovateSpring 2013 Mobile App?

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We’ve updated our mobile app just in time for FinovateSpring. If you haven’t downloaded it already, use the links below or search Finovate in the Apple App Store or Google Play Store. It’s available for free on iPhone, iPad, and Android devices.

Before the show, attendees and followers of FinovateSpring 2013 have access to:

    • Agenda
    • Presenting companies previews
    • Ability to manage your Finovate schedule with calendar integration

On the first day of the event, the app will update to unveil the complete details of all 72 new products. Use the app to:

    • Contact presenters by email or phone using the integrated contact feature
    • Take notes on each company
    • Save your personal rating for each company
    • Bookmark presenters for quick reference
    • Search within the app

Lending Club Lands $125 Million Investment from Google and Foundation Capital, Is Now Valued at $1.6 Billion

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Google and Foundation Capital made a $125 million investment in online P2P lending platform, Lending Club at a valuation of $1.6 billion. Google executive David Lawee now sits as an observer on the Lending Club board.

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The $125 million was used entirely to buy out existing investors, who sold 15% to 20% of their shares. No net new funds were added.

Lending Club CEO Renaud Laplanche confirmed that Lending Club is readying for an IPO in 2014.

Lending Club demoed at Finovate three times, most recently at Finovate Startup 2009. Check out Finovate’s 2012 CEO interview with Laplanche here.

miiCard Partners with Bitcoin Exchange Platform, Tradehill

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Yesterday, online identity verification service miiCard announced a partnership with Tradehill, the first U.S.-based Bitcoin exchange platform.

Through the partnership, Tradehill is using miiCard’s identity-as-a-service platform to verify users’ identities online, which helps it comply with AML and KYC compliance standards.

Tradehill has already integrated, tested and deployed miiCard for its first product Prime.The whole process took fewer than 3 days.

To learn more about miiCard, watch its FinovateEurope 2012 demo.

Finovate Alumni News– May 3, 2013

  • Newfination hosts Coverhound CEO Basil Enan who talks about its online insurance service.
  • ProgrammableWeb interviews Michael Sconfield, Developer Evangelist of Dwolla API.
  • Caribbean360 reports that the Inter-American Development Bank is testing Entrepreneurial Finance Lab’s psychometric method of testing creditworthiness.
  • Fort Mill Times takes a look at TipRanks. See them demo at FinovateSpring in San Francisco.
  • Bazaarvoice appoints former Convio Inc. CEO Gene Austin as president.
  • PayMobl reviews Pageonce mobile bill payment app.
  • Innovation Agency launches new features for Innovation Café to make it easier to manage and keep users up to date
  • Realty Mogul wins top honors at Founder Showcase pitch competition.
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 Receives $16.5 Million in Series C Funding, Its Biggest Investment Yet

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Yesterday, payment network Dwolla announced it received its largest investment so far, $16.5 million in funding.

This Series C round was led by Andreessen Horowitz who’s Partner, Scott Weiss, has joined Dwolla’s board. 

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Additional investors include:

    • Village Ventures
    • Thrive Capital
    • Union Square Ventures

The new installment brings Dwolla’s total funding to just under $23 million. The Iowa-based startup plans to use the new round to grow business development to larger customers.

Four previous rounds include:

    • Angel, November 2009: $250k
    • Grant, March 2010: $55k
    • Series A November 2010: $1 million
    • Series B February 2012: $5 million

In its coverage, TechCrunch reports some of Dwolla’s recent growth figures:

    • Annual transaction processing run rate is a billion dollars
    • It has 250k account holders. This is up from 80k in early 2012.
    • It has more than 100 large customers
    • It will open its fifth office, located in San Francisco, this June

To learn more about Dwolla, check out its live demo from FinovateSpring 2012.

Finovate Alumni News– May 1, 2013

  • Finovate-F-Logo.jpgNewfination interviews Waspit’s CMO, Kasey Kaplan, to discuss how the service is helping students manage their money.
  • The National Business Review looks at Yodlee’s aggregation.
  • Prosper sees best month for loan originations, reaching $20.2M in loans for April, & $500M since inception.
  • PC Mag recommends using Dashlane as a password manager.
  • StreetInsider takes a look at Finect’s public beta launch. Join them for FinovateSpring in San Francisco.
  • Directions Magazine interviews Locaid CEO Rip Gerber on geofencing. See Locaid demo at FinovateSpring in May.
  • IntelliResponse wins 2013 CRM Excellence Award from CUSTOMER magazine. See them demo at FinovateSpring.
  • OneID chief security officer Jim Fenton weighs in on two-factor authentication. See them demo at FinovateSpring.
  • ASTD.org puts Kashoo at the top of its list of “must-have” small business apps.
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– April 30, 2013

  • Finovate-F-Logo.jpgCortera now offering free Cortera Business Directory accounts.
  • Lendio announces record year-over-year revenue growth of 97% for the first quarter of 2013.
  • Zopa launches Safeguard offer that protects lenders from faulty borrowers through a fund held by a non-profit.
  • PayMyStudentLoans.com reviews ReadyForZero can help students save money in college.
  • PA Consulting Group will deliver identity verification solutions using miiCard.
  • MoneyDesktop launches new version of PFM & updates MoneyMobile app.
  • South Bangla Agriculture & Commerce Bank is the fifth Bangladeshi bank to deploy Temenos T24 banking software.
  • Leaf announces Leaf Membership Network. Join Leaf in San Francisco for FinovateSpring in May.
  • Financial Advisor introduces Finect. Come see Finect demo their technology at FinovateSpring.
  • appPicker reviews Kashoo Accounting for iPad.
  • Small Business Association of Michigan selects Billhighway Give as its mobile fundraising solution.
  • Intuit releases Android tablet banking app. Come to FinovateSpring to watch Intuit unveil its new technology.
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.

CEO Interview: Brendon McQueen of Tuition.io

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We talked with Brendon McQueen, CEO of student loan management platform Tuition.io, this month for an insider’s view of the startup.

Tuition.io, which demoed at FinovateFall 2012, has recently been covered in such blogs and publications as Lifehacker, Dow Jones’ All Things D, and The LA Times and just unveiled its new user interface today (see below).

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Finovate: At the beginning of this quarter, Tuition.io launched its student loan management platform out of private beta. What has been the response so far from the public?

McQueen: Tuition.io provides our users with a unique service that directly addresses one of the most cumbersome and frustrating tasks they’ll encounter (organizing and optimizing their student loans), which is why we get a constant flow of positive emails from our users — many of which center around just thanking us for creating a tool that curbs said frustration.

Outside of our users, the press has really latched onto Tuition.io because we’re solving a big problem for student loan borrowers which is as timely a subject matter as you’re likely to encounter.

Finovate: What has been the biggest surprise you’ve encountered since launching?

McQueen: Successful lawyers, doctors and MBAs using the product. No kidding. We’ve had a surge of people asking us how to optimize their debt via larger payments. We’ll get emails asking what their situation looks like if they make $5,000 payments per month. It makes total sense, but our early feeling was that our tool would mostly serve those facing financial hardship. That said, while we purposely built a platform that serves both ends of the financial spectrum, we didn’t think that higher earning individuals would represent such a large and vocal portion of the early adopters.

Finovate: Tuition.io raised $1 million in seed funding in February. What are your plans for putting it to use?

McQueen:The simple answer, hiring and customer acquisition. On a side note, as a first time entrepreneur, it has been interesting to see what $10k can do, and then as you grow, what $1mm can do. It’s all relative and embracing that fact has been a learning curve. For example, early on you think you should be working out of your apartment, but that obviously doesn’t scale. Then the question is, what kind of office do we get? At first, you’ll think you should get the cheapest office you can find, but then you think about your team cranking hours in said cheap office and it begins to make less sense. Headline: get an office you and your team will enjoy as you will spend the vast majority of your time there.

Finovate: What new functionality / capabilities are you working on for Tuition.io?

McQueen: We just released Tuition.io v2.0 which places a greater emphasis on UI/UX and debt tracking over time. The new platform will also make it easier for us to build out more functionality, faster, and with more options for scaling the product.

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Finovate: How has the experience you gained from your Colombia University film degree helped you succeed in the startup world?

McQueen: I think film is one of the hardest hustles you can chase, period. It’s all on you, there’s little concrete structure on how to go about making films, and even less structure on how to make successful films (despite what is taught in class). It teaches you, or rather forces you, to think outside the box and take action. Such is the same with entrepreneurship and tech.

Finovate: Can you share any usage metrics?

McQueen: We just crossed the $500mm mark in terms of aggregate user debt on the platform with users averaging 10 loans per person. The sheer amount of debt is astonishing, but so is the conversion rate of users adding loans onto the platform. We now have .05% of the total $1 trillion in outstanding student debt in the U.S. and we just got started.

To check out Tuition.io in person, sign up for the platform or watch its FinovateFall 2012 live demo.

Guardian Analytics Unveils FraudMAP Wire Product to Prevent Wire Fraud

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Fraud prevention company Guardian Analytics released a new product today called FraudMAP Wire.

As the name suggests, the SaaS solution prevents wire fraud across all bank channels. Using behavioral analytics, FraudMAP Wire determines high risk wire transfers in call centers, faxes, branches, emails, and online.

In real-time, the automated system speeds up low-risk transactions and stops high-risk transactions to determine if it is fraudulent. Some benefits of the new service include:

    • Requires customer interaction for only the most high risk wires
    • Receives all wire transactions in real-time from the financial institution’s wire processing solution
    • Provides integrated workflow for investigation and execution of final wire release status

Guardian Analytics demoed at FinovateFall 2010.

Finovate Alumni News– April 24, 2013

  • Finovate-F-Logo.jpgAdobe and SapientNitro form partnership. Come see Adobe’s new tech at FinovateSpring.
  • Forbes lists Zopa as 1 of 10 top P2P lending platforms in Europe. 
  • MicroStrategy unveils upgrade to company’s enterprise analytics platform. See them demo at FinovateSpring in May.
  • Bank Systems & Technology takes a look at ACI Worldwide’s new Universal Payments Platform.
  • CommunityLend’s FinanceIt named 1 of Branham300’s Top 25 Up-and-Coming companies.
  • Is TransferWise a “simplified PayPal for business banking”?
  • ACI Worldwide to offer Mobile Bill Pay Suite.
  • Bank Investment Consultant features social media resource Finect. Come meet Finect at FinovateSpring in San Francisco in May.
  • Newser takes a look at Green Dot’s new online bank: GoBank. See a demo of GoBank at FinovateSpring.
  • Motherhood Moment interviews TipRanks CEO and co-founder Uri Gruenbaun. See TipRanks in action at FinovateSpring.
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.

FinovateSpring 2013 Sneak Peek: Part 3

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This is the third part in our continuing Sneak Peek series that gives a glimpse into what each company will demo live on stage at FinovateSpring.

Don’t miss part 1 and part 2 published earlier this month. 

See the full demos live at FinovateSpring next month. Get your ticket here

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Better ATM Services’ groundbreaking technology enables ATMs to dispense new, flexible prepaid cards just like cash, opening the world’s fleet of 2.3 million ATMs to the prepaidBetterATMLogo.jpg marketplace.

Features:

    • Visa and others are adopting this new distribution channel
    • Consumers love the 24/7 convenience of ATMs for prepaids
Why it’s great: Financial institutions can recapture 50%+ of customers now going elsewhere for prepaids, increasing their share of the $549 billion prepaid market.

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Bright Funds is a solution for effective charitable giving management, combining the sophistication of investing with the intuitive, engaging experience of modern web services.
Features:
    • The Bright Funds Charitable Giving Portfolio
    • The Bright Funds Impact Timeline
    • Bright Funds Public Profiles for Giving
Why it’s great: Bright Funds brings an investment approach to charitable giving.

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FamZoo’s online family banking system helps parents teach kids good money habits.
Features:
    • Family pack of affordable, widely accepted prepaid cards
    • Integrated family finance tools build good habits
    • Co-branded option delivers targeted offers
Why it’s great: FamZoo solves the “kids and money” problem for parents: prepaid cards that work together, not alone.

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Intuit delivers banking software and technology solutions for financial institutions.
Features:
    • Gives banks better insight to serve customers
    • Blurs lines between PFM/banking 
    • Learn what Mint has in store for personal business
Why it’s great: Intuit now offers the best PFM solution for all users – whether it is through Mint.com or financial institutions.

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LeapScore is financial advice for the rest of us.
Features:
    • Tailored help and advice for each individual
    • Empowers people to take more control over finances
    • Sets meaningful goals
Why it’s great: a comprehensive score that, for the first time, represents “who” you are financially.

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MicroStrategy provides online banking without usernames or passwords, instant identity validation over the phone: Usher radically changes the way IDs, cards, and keys are issued and carried.
Features:
    • Mobile phone-based digital credentials
    • Multi-factor verification including voiceprints
    • Secure out-of-band authentication
Why it’s great: Usher: an extraordinary array of identity-management services that reduce fraud, protect identities and improve customer experience.
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MoneyDesktop redefines the way millions of people interact with their finances by developing technologies that drive financial engagement between account holders and financial institutions.
Features:
    • Leverage aggregated PFM user data 
    • Segment and target your user base
    • Increase conversion rates and loan volume
Why it’s great: Insight and Target provide financial institutions with a groundbreaking new way to market and drive adoption of their most valuable services.
OneID eliminates the need for usernames and 

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passwords, while delivering a secure, compliant identity system that’s easy for your customers to use.

Features:
    • Secure, one-click login with no password
    • Customizable two-factor authentication
    • Easy cross-selling with automatic form-fill
Why it’s great: Convenience of one-click login. Security of public key cryptography. Flexibility to meet financial institutions’
needs. Identity as it should be.

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Quantopian is the world’s only browser-based algorithmic trading platform, democratizing finance by reducing barriers to entry and providing quants the tools and support needed to profit from their ideas
Feature:
    • Combines historical data, algo simulation, live market data, brokerage integration and algo development into a simple workflow
Why it’s great: Allows quants to put their ideas and algorithms to work and profit from them with the click of a button

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Refundo is designed to revolutionize the way people do banking and extend mainstream banking advantages to underbanked and unbanked communities across the nation.
Features:
    • Open an FDIC-insured bank account in seconds using your smartphone. 
    • Send money to your friends and family quickly and securely.
Why it’s great: Finally a new way to manage your money. And by new, we mean better.


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Yandex.Money’s Twym is a quick and convenient way to send money via Twitter.
Features:
    • Easy-to-use interface for collecting money
    • You don’t have to leave Twitter
    • Other users can repeat payments in one click
Why it’s great: Twym makes transferring money simple and fun.

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Yseop’s artificial intelligence software writes just like a human being, but at a speed of over a thousand pages per second and in multiple languages.
Feature:
    • Yseop boosts the productivity of your business teams by automating the delivery of best practices and personalized expertise.
Why it’s great: Yseop creates a new age where financial services delivered to customers are driven by artificial intelligence and human collaboration.
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For more information on being a part of FinovateSpring 2013, see our FAQ. To register, visit out FinovateSpring page here.