edo Interactive’s New Marketplace Platform Targets Small, Local Businesses

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Last week card-linked rewards startup, edo Interactive launched the edo Marketplace, a service that enables small, local businesses to take advantage of its rewards program.

Prior to this move, edo’s platform was tailored to larger merchants. Big-name companies such as Crate & Barrel, Home Depot, Nordstrom, Subway, and Target are a part of the 200 companies that already use the edo platform to find new customers and encourage repeat customers.

Edo counts over 150 financial institutions as partners, including Fifth Third and Ally Bank.

As a part of its coverage, TechCrunch reported some of edo’s growth metrics:

“Edo says its active card network is currently growing at 30 percent per month, and that within the next three months, it will extend 1 billion card-linked offers to consumers. Painting a picture of acceleration, the company says it took edo 4 years to reach that same level, previously.”

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To learn more about edo, watch its FinovateSpring 2012 demo.

Finovate Alumni News– February 1, 2013

  • Finovate-F-Logo.jpgDallas Business Journal reports PayTap helps split bills among friends, family.
  • Taulia to provide e-invoicing and supplier self-services to real estate market.
  • Ping Identity announces annual bookings grew more than 50% for the third consecutive year, cites other growth metrics.
  • Locaid to provide geofencing, location authentication for GTECH.
  • Nationwide shares pointers on how to use eDeposit.
  • ACI Worldwide announces winners of its 2013 Excellence Award.
  • Bazaarvoice to help UK furniture retailer Harveys execute social media strategy.
  • CurrencyFair wins “Start up of the Year” in The Next Web’s Irish Startup Awards competition.  See them demo at FinovateEurope in London!
  • In this Forbes piece, BankersLab CEO and Co-Founder Michelle Katics gives a crash course on what it’s like to take a startup global.
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– January 31, 2013

  • Finovate-F-Logo.jpgTechCrunch reports Braintree’s New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC’s Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • FIS acquires mFoundry for $120 million.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
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.

SocietyOne Reaches $1 Million in Loan Originations on ClearMatch Lending Platform

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SocietyOne, a FinovateAsia Best of Show winner, announced last week that it has reached $1 million in loan originations on its P2P lending platform, ClearMatch.

The Australia-based startup launched the ClearMatch platform, which allows investors to bid together at different interest rates and amounts against a single loan, six months ago in August of 2012.

In the six months since its launch:

    • Has originated over $1.1 million in loans
    • Borrowers faced an average interest rate of 14.4%
    • Investors earned average interest rate of 11.3% per annum
    • Investors have received $15,600 in interest payments

The following graph charts the growth of the loan amount originated since its inception.

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For comparison, SocietyOne charted the growth of LendingClub’s originations over time.

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Matt Symons, SocietyOne CEO, states that he plans to replicate the success of Lending Club in Australia.

To check out SocietyOne’s award-winning platform, watch its FinovateAsia 2012 demo.

Finovate Alumni News– January 28, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSaveUp begins Stamp Card rewards program. Collect 10 stamps and redeem card for reward.
  • Chargebee blog features Braintree as a payment gateway integration optionin the U.K.
  • Firmology reports on new Dwolla features: Send Money to Non-Dwolla Users and Split Payments for Multiple Facilitators.
  • eToro launches YouTube channel for free trading lessons.
  • The M Report features BankersLab’s Banc-it: Scoring Edition app.
  • Dexter Credit Union implements Q2ebanking’s full suite of eBanking solutions.
  • Locaid partners with CAMS to provide solutions for mobile gaming industry.
  • Jingit chooses Direct Source as its preferred systems integration partner.
  • Compare Broker reviews the latest developments in the Zecco/TradeKing merger.
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– January 24, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe WSJ looks at angel investing via SecondMarket.
  • BOKU announces mobile payments partnership with U.S. Cellular.
  • In 4Q 2012, peerTransfer partnered with 51 schools. Over 25% of international students in the U.S. can pay their education expenses using peerTransfer.
  • TSYS announces partnership with Priority Payment Systems.
  • Jim Offerdahl appointed as new Bazaarvoice CFO.
  • Credit Agricole is the first bank in Portugal to provide contactless cards.  See their demo at FinovateEurope in February!
  • Keynote offers free mobile testing via DeviceAnywhere.
  • American Banker reports: Iowa Bank Creates Digital Identities from Fingerprints & Photos using TASCET’s Financial ICONN software.
  • VentureBeat reports BBVA pools $100 million fund to invest in fintech startups. Come see BBVA’s live demo at FinovateEurope.
  • Credit.com announces “best balance transfer card” as part of Best Credit Cards in America series.
  • TrueOffice announces $3 million raised in Series A financing.  Catch their demo at FinovateEurope in February.
  • Access Development launches “Savings Across America” customer incentive product.
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.

PayNearMe Raises $10 Million in Series D Funding, Launches Express Merchant On-Boarding Option

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Today, cash payment network PayNearMe announced a $10 million round of funding along with the launch of a self-service Express option for merchants.

Funding
August Capital led the $10 million Series D round, bringing the company’s total funding to $30 million. Existing investors Khosla Ventures, Maveron, and True Ventures also participated.

Express option
The new Express option for merchants is offered alongside Pro and Custom accounts that each provide different levels of service, including API access and receipt customization, as seen in the chart below.

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Along with a lower price tag, the Express option also benefits merchants by requiring less backend integration, so they can begin using the service in less than an hour without the help of IT staff. Setup requires banking information and unique data about each customer, such as customer number and address.

The new Express option opens the possibility for PayNearMe to serve a large number of small merchant accounts, as opposed to just a handful of large accounts, such as existing clients Greyhound and H&R Block.

2013 plans
From 2011 to 2012, the San Francisco-based company tripled its volume. BetaKit adds that, for 2013, PayNearMe plans to expand beyond its 7,000 7-Eleven stores and 1,600 ACE Cash Express stores to add more partner retailers, likely more convenience stores. Also, it aims to support more small, ecommerce retailers.

To learn more about PayNearMe, watch its FinovateFall 2011 demo.

Bridge Community Bank Becomes First in the U.S. to Adopt TASCET’s Financial ICONN

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Identity verification expert TASCET announced today that Bridge Community Bank has become the first bank in the U.S. to adopt its Financial ICONN solution.

Account holders at the Iowa-based bank can request their own Financial ICONN at the bank’s three locations:

    • Mount Vernon
    • Solon
    • Mechanicsville

To take advantage of Financial ICONN, a customer must provide their name, address, date and country of birth, gender, two Fingerproofs and a Faceproof. Using this data, Financial ICONN assigns the consumer a Financial Security Number that is used for authentication in future transactions.

To learn more about TASCET, watch its FinovateSpring 2012 demo.

Finovate Alumni News– January 22, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker reports: SmartyPig Launches OneClick, Goal-Based Savings Account Browser Plugin.
  • Bridge Community Bank becomes first in the U.S. to adopt TASCET’s Financial ICONN.
  • EZBOB offering interest-only small business loans to online merchants.
  • Fenergo‘s FATCA solution featured in Datamonitor.
  • ING BusinessMobile for iOS and Android leverages Comarch Mobile Banking.
  • Corduro wins partnership, investment from Shopforbags.com.
  • Standard Chartered Bank launches “Remote Causes” to promote charitable giving through Internet Banking.
  • Ribbit Capital initiates $100 million venture capital fund.
  • Dwolla brings government payments partnership to Iowa.
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.

BankersLab Launches New Android App to Support ScoringLab

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BankersLab, the company that gamifies training for bankers, recently launched a new Android app, Banc-it: Scoring Edition.

The app supports ScoringLab, a training product intended to help bankers improve their knowledge of credit risk scores. The gamification aspect of the app increases user engagement for an effective training experience.

Banc-it, the new app, tests users’ knowledge of:

    • Credit scoring data
    • Credit score usage
    • Model development 
    • Credit monitoring
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The app, priced at $4.99, is available for Android devices in the Google Play store. BankersLab will release the iOS version next month.

To learn more about BankersLab, watch its FinovateAsia 2012 demo.

Finovate Alumni News– January 18, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker reports: ImpulseSave Launches Chrome Plugin to Encourage Savings.
  • SaveUp allows users to vote for potential prizes.
  • SmartyPig introduces the SmartyPig OneClick Chrome extension.
  • Get Rich Slowly blog features Tuition.io.
  • Forbes covers Virtual Piggy, calling it PayPal for Kids. Come see Virtual Piggy demo at FinovateEurope.
  • Springwise features Movenbank. Come to FinovateEurope and see Movenbank’s live demo of its new platform.
  • American Banker reports: STAR Financial Bank Rolls Out PFM Software from MoneyDesktop.
  • Virgin Mobile, C Spire test BillFloat as financing option.
  • Mastercard moves to ease EMV migration within U.S.
  • Azimo announces £300,000 ($480,000 USD) angel investment round. Come see their demo at FinovateEurope in February!
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.

SaveUp Allows Users to Vote for Potential Prizes

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Gamified-savings and rewards platform, SaveUp, is holding a contest allowing users to vote for prizes they want to see on the platform to increase engagement.

As of right now, users have three and a half more days to vote for prizes or submit one of their own. If a user suggests the prize that receives the highest number of votes, they earn 1,000 credits in their SaveUp account.

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Users can vote once per day on the prize of their choice. All prizes are valued around $100. Popular ones include:

    • Emergency fund
    • Victoria’s Secret gift card
    • $100 toward Nest Thermostat
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To learn more about SaveUp, watch its FinovateSpring 2012 demo.