Big Funding Week for Finovate Alumni

This week, three Finovate alumni reached significant funding milestones.  


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New round
$14 million Series B from Wellington Partners, Balderton Capital, TTV Capital, and Patagorang 
Funding History
$12.1 million Series A in July 2010
Previous Investors
Balderton Capital, Stanley S. Shuman of Allen & Co., and Total Technology Ventures 
Profile
Market Position: Online Payments and Personal Financial Management
Founded: 1999
Locations: Denver, London, Australia, and China
Description 
eWise creates payment and financial management solutions for financial institutions including:
  • eWise Pay By Account 
  • eWise Pay Anyone 
  • eWise Account Aggregation
  • eWise Personal Financial Manager 
  • eWise eAuthentication
For more information on eWise’s innovations, see their FinovateEurope 2011 and FinovateSpring 2011 demos.
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New Round 
$17.2 million from Draper Fisher Jurvetson, Crosslink Capital, Accel Partners, CompuCredit, Omidyar Network, Eric Schmidt’s TomorrowVentures and Volition Capital 
Funding History
$7.5 million Series A in April 2005
$12.5 million Series B in February 2006
$20 million Series C in June 2007
$14.5 million Series D in April 2010
Previous Investors 
Accel Partners, Benchmark Capital, DAG Ventures, Eric Schmidt
Fidelity Ventures, Meritech Capital Partners, Omidyar Network, QED Investors, and TomorrowVentures
Profile
Market Position: Peer-to-peer Lending
Founded: 2006
Location: San Francisco, CA
Description 
Prosper, a peer-to-peer lending site with over one million members, has funded $236 million in personal loans. To see Prosper in action, check out their FinovateStartup 2007, FinovateStartup 2008, and FinovateStartup 2009 demos. 
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New Round
$20 million Series B funding from Andreessen Horowitz, Leapfrog Ventures, Seraph Group, and Startup Capital Ventures
Funding History
$2.1 million Series A in September 2008

Previous Investors
Leapfrog Ventures, Seraph Group, Startup Capital Ventures
Profile
Market Position: Security
Founded: 2008
Location: Palo Alto, CA
Description
Silver Tail Systems’ products detect online and mobile fraud, help investigate possible attacks, and prevent future attacks. To learn more about Silver Tail Systems’ innovative fraud detection, check out their FinovateStartup 2009, Finovate 2009, FinovateSpring 2010, FinovateFall 2010, FinovateEurope 2011, and FinovateSpring 2011 demos.

Alumni News — Week of May 30, 2011

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Betterment
Medill Reports discussed the benefits of Betterment and Currensee, claiming that the social networking craze changes the way some people invest. Link
BrightScope
BrightScope announced the top 10 treasury inflation protected securities funds in America’s 401ks. Link
ChargeSmart

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Fox News’ Studio 10 reviewed ChargeSmart, PlasticJungle, and Bills.com and found a number of money saving tools and ideas. Link
Check Point Software Technologies
Check Point Software Technologies won The Ten Best Web Support Sites of 2011 Award from The Association of Support Professionals for its exceptional web support design, implementation, and customer experience. Link
ClairMail
ClairMail announced record customer expansion with a 300% year-over-year growth in users. Link
Corduro

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The New York Times reported that Corduro’s cloud platform challenges PayPal and Square’s mobile payment services. Link
Credit Sesame
The Wisdom Journal depicted Credit Sesame’s services as more than just credit scores. Link
Currensee
See Betterment above.
doxo
  • doxo explained how to use its online filing cabinet and “due date” alerts to help organize GroupOn, Living Social, and other daily deals. Link
  • TheFinancialBrand.com discussed Oregon Federal Credit Union’s use of doxo and discussed other usage ideas such as uploading a scan of your passport prior to travelling. Link
Dwolla 
  • Credit Union Times listed Dwolla as a contender in the P2P payment space. Link
  • Dwolla rallied community efforts to gather donations for the tornado-stricken town of Joplin by selling its t-shirts and accepting donations. Link
  • Omaha World-Herald covered Dwolla’s arrival into Nebraska. Link
Enloop

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  • About.com highlighted Enloop’s business plan creation service. Link
  • Forbes blog discussed “How Not to Fail” by using Enloop to assess the potential success of a business plan. Link
Geezeo
Call Federal Credit Union, based in Richmond, VA, selected Geezeo for its PFM solution. Link
Guardian Analytics
Guardian Analytics positioned by Gartner in the “Visionary” quadrant for web fraud detection. Link
HelloWallet

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San Francisco Mayor Gavin Newsom urged residents to improve their money management by using HelloWallet. For every five subscriptions purchased, HelloWallet will give away one subscription to a family in need. Link
Hidden Levers
Financial Advisor Blog discussed using Hidden Levers to build better portfolios, highlighting risk management and accuracy of the service. Link
Lending Club
  • Lending Club exceeded a quarter million dollars in cumulative loans and is offering cash bonuses. Link
  • Wall Street Journal blog discussed growth of P2P Lending sites Prosper and Lending Club. Link
Lendio

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Lendio raised $2 million in debt financing. Link
PayNearMe
PayNearMe founder Danny Shader, in an interview with Vator News, revealed the service is used beyond the unbanked population, including teens who prefer to pay with cash and consumers who would like to keep their online transactions private. Link
Prosper
See Lending Club above.
RobotDough

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Dow Jones Financial reports that a UCLA professor backed RobotDough. Link
SecondMarket
The Washington Business Journal discussed SecondMarket’s recent popularity. Link
Sybase

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Sybase launched the M-Commerce Guide, a publication for examining global market opportunities for mobile network operators, advisors, and FIs. Link
TradeKing
TradeKing CIO Dan Raju discussed security issues that may arise with the NYSE cloud community, citing its security. Link
Tyfone
Tyfone contracted with Star One Credit Union to use its NFC technology.
 Link

UBank

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CEO of UBank examined security concerns and competitors during an interview with ZDNet. Link

Cash is Still King at PayNearMe

Imagine this scenario: You’d like to visit a friend who lives three hours out of town but

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your car is in the shop so you need to take the train. To purchase the ticket ahead of time, you’d like to pay online or over the phone instead of at the Amtrak station. But here’s the kicker– you don’t have a credit or debit card. How are you supposed to buy the ticket if you can only pay with cash? The solution is easy, and it’s called PayNearMe.
Founded by Danny Shader in 2009, PayNearMe is a Mountain View, CA-based company that 
enables consumers to buy online and pay offline at 7-Eleven stores. 
Using this service, consumers can pay off loans with cash, purchase goods from other retailers, and even pay for services such as transportation. To get a better idea of more possibilities, see PayNearMe’s FinovateFall 2010 and FinovateSpring 2011 demos, both of which won Best of Show awards.

Why use PayNearMe?
    • You do not have a credit or debit card (24% of U.S. households)
    • You prefer to pay with cash (most teens and 54% of adults) 
    • You do not want to divulge personal information online
    • You would like to repay a loan with cash
How it Works
Imagine you want to purchase a book that’s for sale online, but don’t have (or don’t want to use) a debit or credit card.  
You can use PayNearMe to purchase the book online using an Amazon gift card. It’s a three-step process: 
1) Complete the online form at the PayNearMe website.
Choose Merchants (step one in the visual below), select Amazon as the retailer (step two), and answer these questions: 
    • Gift card amount
    • Email addressThumbnail image for Step1n2.jpg
    • Zip code
    • Password
Then choose whether to pay with or without a printer. If going paperless, enter a mobile phone number and within seconds receive the following text message:

text1.4.png
2) Go to 7-Eleven. 

Use PayNearMe’s website to locate a nearby 7-Eleven store and, once inside, find the PayNearMe cards on the rack (see example at end of post). Following the instructions in the text message, 

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reply with the nine-digit code. 
A follow-up message will appear seconds later: 
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You can pay the cashier with a $20 bill and ask her to load the money onto the card. After she swipes the card and processes the payment, she’ll hand you a receipt along with the card. You’ll then receive a final text message:
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3) Use the claim code. 
The receipt prompts you to visit www.amazon.com/gc and enter the claim code listed on the 

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receipt (see below). Login with your Amazon account, ensure the payment is loaded into the system, and click Apply to Your Account. The $20 is loaded into your account so you can find the book and pay for it with the $20 gift card balance. 
Analysis
I like that this is a completely free service for consumers; $20 in your wallet translates into $20 in your Amazon account. There are no hidden fees or surcharges. In addition to this, the PayNearMe card is reusable so you don’t need to pick up a new one each time you use the service.
On the flipside, Amazon doesn’t offer PayNearMe as one of its default payment choices so you have to start the transaction through the PayNearMe website. While this is an additional step in the process, it still makes it easy to pay for goods and services using cash.
PayNearMe card and receipt
Card and receipt.png

Alumni News — Week of May 23, 2011

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Aptys Solutions
Aptys Solutions signed with Banker’s Bank, a top check depositor with the Federal Reserve Link

Backbase
Backbase to host webinar on how to use social media in financial services Link

Betterment

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  • Betterment announced a growth of over $10M under management and over 4000 customers in first year Link
  • Betterment celebrated its first birthday Link

Bill.com
Bill.com is working to improve its mobile offering for small and midsized businesses Link

Boku
Mobile Entertainment explained how Boku will revolutionize pay-by-mobile for digital goods Link

Capital Access Network
CNBC explained how Capital Access Network solves the need to use financial creativity Link

Credit Karma
WiseBread Blog interviewed Credit Karma CEO Link

doxo

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  • doxo’s first fan video was posted online Link
  • Oregon employees were the first to give its members doxo’s online file cabinet Link
  • TechFlash highlighted the benefits of using doxo to achieve paperless business Link
  • 2Minute Finance interviewed doxo at FinovateSpring Link

Dwolla

  • Dwolla was listed by inc Tech as one of three startups you must know from Big Omaha Link
  • Credit Union Times listed Dwolla as a new P2P service rivaling ‘bank giants’ Link

edo Interactive
MyBankTracker interviewed edo Interactive COO about its Prewards service Link

Expensify
Slate explained how Expensify will help the ‘frequent flier’ Link

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Kabbage
Technorati described how Kabbage works with eBay Link

Lending Club

  • Mint.com’s blog covered what you need to know about Lending Club Link
  • San Francisco Business Times commented on Lending Club’s strong backing from both investors and lenders Link
  • San Francisco Times reported that Lending Club stated it is not planning to go public for several years Link

LendingKarma
Entrepreneur featured LendingKarma as a good tool to use when borrowing money from family or friends Link

Lendio
San Francisco Chronicle reported that Lendio offers funding opportunities for new grads Link

Lodo Software
Lodo Software was described as a startup providing jobs in the “Silicon Prairie” region, a.k.a. Omaha Link

lodo.jpg

Monitise
Monitise released a report predicting that the majority of consumers will use mobile money services within the next three years Link

Mortgagebot
Mortgagebot reached 1000 clients, one of its goals from the beginning Link

PayDivvy
2MinuteFinanced interviewed PayDivvy about its services Link

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PayNearMe
BillShrink examined PayNearMe’s cash payment service Link

peerTransfer
Mass High Tech interviewed Iker Marcaide from peerTransfer about becoming an entrepreneur Link

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ProfitStars
ProfitStars announced a new version of Margin Maximizer that’s now available as a hosted solution Link

Robot Dough
2MiniuteFinance toured RobotDough’s demo during interview at Finovate Spring Link

SecondMarket

  • Wall Street Journal stated that SecondMarket helped fuel the tech boom Link
  • CNBC interviewed SecondMarket for an explanation of the change in trading numbers Link and LinkThumbnail image for smartypig.jpg

Smarty Pig
Smarty Pig launched new sharing features, including activity sharing and goal sharing Link

Striata
Striata will host a June 2 webinar for implementing successful ebilling strategies Link

ThreatMetrix
San Francisco Chronicle covered ThreatMetrix’s research around mobile transaction activity Link

TILE Financial
TILE Financial released a Financial Identity Profile to strengthen the connection between advisors and under-30 consumers Link

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TradeKing
TradeKing divulged the lineup of its free webinars in June Link

Tyfone
Tyfone won 2010 Asia Pacific Smart Card Association Award for its NFC innovation and implementation Link

Wikinvest
Dow Jones Advisor highlighted Wikinvest as a way to analyze portfolios Link

Wonga

  • Wonga won 2011 Red Herring Top 100 Europe Award for exceptional accomplishments Link
  • Wonga won the Media Momentum Awards, a coveted award for digital media companies in Europe Link
  • Wonga’s Errol Damelin discussed consumer-centric credit Link

Xero

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  • Diversity Limited commented on Xero’s move to the US markets Link
  • Xero and Keebo teamed up to help you manage and process receipts Link
  • New Zealand Herald commented on Xero’s surging revenue Link

Zecco

  • The Wall Street Journal reviewed Zecco’s new Facebook app Link
  • Zecco launched an app for stock trades & viewing realtime market data on Facebook Link

Zopa
Zopa shows how it helps consumers protect against inflation Link

Spend Grow Give: TILE Financial’s New Learning Environment

TILElogo.jpg

During FinovateSpring last week, I spent a lot of time talking with demoing companies about their new products and services. I was impressed by the overall utility of the products and the friendliness of the entrepreneurs. Over the next few months, I’ll be profiling a number of the companies that presented last week. 
Amy Butte, former CFO of the New York Stock Exchange, founded NYC-based TILE Financial in 2008 with a goal to help financial institutions hold onto the $1.5 trillion in assets projected to be inherited during the next 10 to 15 years.  
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TILE seeks to help young adults establish a financial identity, learn to follow a budget, and understand financial terms and concepts. It’s also meant to facilitate a dialogue with their parents, grandparents or other funder, and their financial advisor. 
Through TILE’s Spend Grow Give interface, the topics of money and finance are expected to transition from taboo to comfortable subjects. The unique user-interface is very visual, perfect for the target audience of 15 to 25-year-olds.  
How it works
Homepage: 
  • Account Overview
    After logging in, I see an overview of my account divided into three categories: 
Thumbnail image for SpendGrowGive.jpg
Each contains a pie chart of my spending, investments and charitable contributions. Please note that the Grow category is empty because I am using a test account without investments.
  • Reference Bar
    Pictured below, this feature has eight tabs and is located at the bottom of the user interface (see homepage screenshot at end of post). My favorite tab is TILEcasts, a unique reference tool that contains video clips of experts talking about subjects such as, “Here’s Why You Need Insurance.” The clips break down complex financial issues into bite-sized pieces with digestible language. 
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  • Alerts
    The interface includes customized alerts such as portfolio changes, budget limit approaches, and so on. Alerts are delivered via the TILE site, email, or text message.
Profile Page: 
  • My Profile
    At first glance, the profile appears similar to Facebook. I can upload my picture, update my status, and share with the TILE community, my financial advisor, my funder (i.e., parent/grandparent), Twitter, or Facebook.
Profile.jpg
  • Features
    The main part of the profile page is My Financial Identity, which features the homepage categories: Spending, Growing, and Giving, as detailed below. Each contains quizzes and tutorials that allow the user to understand what money means to them. TILE refers to this as a person’s “financial identity.”
– Spending

Here, I can see how well I know my budget. I take a quiz to test my knowledge of how much I spend on certain categories and am guided through a tutorial to help adjust 

monthly spending habits. Another lesson teaches the basics of establishing credit.Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for BudgetQuizIntro.jpg

– Growing 

In this section I can learn when to start investing, how to time financial 

markets, and take a risk profile assessment. There is an easy-to-use calculator that inputs age, investment 

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amount, and interest (see graph on the right) to show growth over time.
– Giving
This area features a quiz to help me discover causes I really care about and would allocate charitable giving to.  It requires much thought and in the end helped me create my own mission statement. 
My user experience documented here covers only a small section of what is available in TILE’s Spend Grow Give product. To see it in action, stay tuned to www.finovate.com to check out TILE’s demo that will be posted in the next few weeks.
TILEfullScreen.jpgHomepage View

Alumni News — Week of May 16, 2011

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Bill.com
Practical Ecommerce listed Bill.com as 1 of 19 tools for online bookkeeping and invoicing Link


BrightScope
BrightScope announced the top 10 commodities funds held in America’s 401k plans Link
Frazier & Deeter, FD Alliance, BrightScope and SignatureFD conducted a national webinar on BrightScope’s tool that rates employee benefit plans. Link 
ClairMail

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ClairMail reported record growth with a record number of customer acquisitions and a 300% increase in user growth Link  
eRollover
eRollover announced its Facebook Early Retirement Vacation Sweepstakes Link
Finantix
Wealth Management 360 highlighted Finantix’s Finovate Europe demo Link

Intuit
Intuit reported an increase of internet banking users by 9% and bill pay users by 23% Link
iPay Technologies

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iPay Technologies reached 1 Million users of its P2P electronic payment service, with almost 8 million payments processed to date Link
Kapitall
Kapitall implemented an alert system for current news on stocks and funds. These new alerts will keep users informed and will link directly to Kapitall’s analytical tools for a quick understanding of changes. Link
Kashoo

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Practical Ecommerce listed Kashoo as 1 of 19 tools for online bookkeeping and invoicing  Link
Kashoo was selected by IDC as one of Canada’s Top 10 cloud companies to watch Link

On Deck Capital
Tech Crunch reported On Deck Capital’s announcement of the On Deck Score, a credit score for small businesses. This program seeks to fix the problem of businesses borrowing money as consumers http://tcrn.ch/kNjGX6 Link
Outright.com
Practical Ecommerce listed Outright.com as 1 of 19 tools for online bookkeeping and invoicing Link

SecondMarket 
SecondMarket experienced $115M in private stock sales during Q1 Link

TradeKing
TradeKing ranked number four in customer service for the second consecutive year in the Annual Broker Survey by Wall Street Journal’s magazine, SmartMoney Link 
Wonga

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Wired UK mag covered Wonga’s disruptive process of making borrowing money completely automatic. Are they transforming personal finance? Link
Wonga should have won of Startup 100 Awards, not Spotify Link

FinovateFall: Last Chance to Save $300 on Sep. 20-21 Event

image Thanks to everyone who made FinovateSpring a success just a week ago (my Twitter transcript here). But innovation doesn’t stand still, so we are already collecting applications and selling tickets for FinovateFall in New York City.

In fact, if you want to save on your fall ticket, register by the end of the day Friday (May 20) to receive $300 off regular ticket prices. Based on early results, it could be the biggest Finovate yet.

Last year, the conference expanded to two days (selling out 3 weeks in advance) and the audience loved it. Once again, each day will be packed with our unique blend of short, fast-paced onstage demos (no slides allowed) and intimate networking time with top executives from the demoing companies.  With each company receiving just 7 minutes onstage, FinovateFall is the only place to see dozens of fintech innovations in such a short period of time.

So make sure you are part of the excitement at the fifth annual NYC Finovate on Sep. 20 & 21, and save $300, by registering today!

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Last year’s presenters (FinovateFall 2010)

FinovateFall demos

Finovate Spring 2011 Live Twitter Transcript

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Here’s the transcript from our Netbanker live Twitter feed during Finovate Spring last Tuesday and Wednesday. 




The entries are in reverse chronological order.


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  • PayNearMe also demoing multiple bill payment at 7-eleven and finally international remittance via Ria; great role play on stage! 
  • PayNearMe demoing three obligations paid via a cash transaction at the 7-eleven store; first a Progreso Financiero payday loan pmt 
  • Corduro demoing a use-case where a non-profit can take donations/payments on-the-go; launching today MobilizeYourArmy.com 
  • Corduro “Square meets Paypal meets your wallet” mobile payments solution 
  • Launching OpenCuro network today, so that the codes can be generated from within a bank’s secure site 
  • OpenCuro launching new online payment system with increased privacy & security; uses one-time random alpha-numeric code 
  • Ideon also launching system for FI to create new value-added CDs, speeds time-to-market “minutes, not months” 
  • Ideon launching Choice Savings, a certificate of deposit sales system where user can create a customized deposit product 
  • MyBankTracker.com, with 500,000 unique visitors/mo, launching Plentifi, an app to mobilize the PF community; includes real-time Q&A 
  • Aptys showing a mobile billing system, with invoice creation and payment by check with remote image capture through iPad2 camera 
  • Aptys Solutions, a FI payments hub, launching “aMobile” mobile payments capabilities 
  • Enloop demoing a biz owner setting up the financials for proposed business; assigns EPS performance score; creates biz plan 
  • Enloop launching beta today; allows anyone to complete online business plan & have it scored with algorithms that predict success 
  • edo Interactive showing how fast reward is redeemed; user has money in their bank account within a minute
  • edo Interactive demoing co-brand with Fifth Third Bank which is now live for its 4.5 million customers 
  • edo Interactive launching Prewards: merchant-funded rewards with real-time redemption and immediate notification
  • payDivvy launching to the public today 
  • payDivvy can be used to share and divide recurring bills among roommates; has a built in “ping” function to remind roommate to pay 
  • payDivvy launching publicly today the first social billpay system, ie. bill sharing, a “missing function in today’s systems” 
  • Kony demoing its mobile-web app, that behaves the same as native app; and first Blackberry app of the day 
  • Kony Solutions, used by 40 global customers, showing a customized mobile app with remote deposit capture
  • ChargeSmart currently processing $111/min across all payment methods 
  • ChargeSmart offers a percentage (up to 92%) of gift card balance which customer can accept/reject; then apply to bills 
  • ChargeSmart partnering with PlasticJungle to launch system to turn unused gift cards into currency to use to pay monthly bills 
  • Adobe user interface very sophisticated, both online, mobile phone and tablet (i’m ready for my bank app to look like that) 
  • Adobe showing online cross-selling platform with slick Facebook/Twitter integration 
  • Openfinance working today with 60 European financial institutions 
  • Openfinance showing customization of “Open workplace” with plug-and-play modules; includes mobile and iPad version of dashboard 
  • Openfinance from Spain launching an advisor platform to better counsel clients online 
  • Expensify launched mobile photo receipt capture to make it easier to upload expenses into the system, “a most requested feature” 
  • Expensify working on holy grail, “one-click expense reporting”, demoing auto reconcile, auto categorization, showing biz card scan 
  • Expensify hits the stage running, “expense reports that don’t suck,” great start to final afternoon
  • BancVue beta clients delivering to 100 schools, 10,000 students; showing how it is used to increase sales, build relationships 
  • BancVue MoneyIsland includes “teacher and parents dashboard” to track students’ progress, also can link to offline curriculum 
  • BancVue launching youth-oriented financial gaming system, Money Island, a financial education platform 
  • Tile Financial “young adults engage with images, not spreadsheets” so interface very visual oriented; live with FI & 2 more coming 
  • Tile Financial, a financial mgmt program for Gen Y, launching Financial Identity, the money version of a social network profile 
  • PrivatBank’s Liqpay launching PaytoFace, a peer-to-peer system for paying Facebook friends by clicking on their profile pic 
  • Currensee launching today the “Portfolio Builder”, with dynamic update of total risk in portfolio 
  • Currensee includes social piece, where you can follow and invest with the actual trades by top-performing network members 
  • Currensee has invented “new way to invest” in world currency market; targeted for retail investors ($4 tril per day in volume) 
  • eWise demoing mobile purchase at the point of sale, also mobile bill payment by scanning QR code with mobile camera 
  • eWise walking thru online purchase via US Bank, user needn’t pre-register, automatically available when bank joins network 
  • eWise onstage with U.S. Bank demoing Payo, Secure Vault Payments, online in production @ US Bank & will be piloting mobile in 2011 
  • BillShrink demoing private-branded (Chase) mobile version to find and track rewards; “geo-enhanced” of course 
  • BillShrink launching “reward discovery”; how user behavior incented to unlock additional rewards, eg. spend “X” more get, Y bonus 
  • BillShrink launching Statement Rewards Mobile; announcing 4 innovations today; showing rewards on a Chase bank statement 
  • RobotDough also includes 15,000 defunct companies to eliminate “survivor bias” from back testing; can browse investing strategies 
  • RobotDough launching worldwide coverage to ALL 45,000 global public companies; w/ 20 years historical data for powerful back tester
  • RobotDough launching investor tools, drag-and-drop visual screener; uses powerful natural-language search queries 
  • Q2eBanking launching fraud monitoring, and fraud reduction, solution for community banks and credit unions 
  • Discover Money Messenger a
    lso works online, new tab in Discover site, “Send Money” and says “powered by PayPal” on top of page 
  • Any Discover cardholder can now send money via mobile to other cardholders or to any mobile number; demoing live on stage, worked! 
  • Paypal and Discover launching Money Messenger using Paypal’s X open payment platform 
  • Bills.com debt coaching service is free to consumers; integrates with DebtGoal 
  • Bills.com shows costs and APRs for every open credit line; and helps figure savings, eg. from a mortgage refi 
  • Bills.com demoing Debt Coach to help consumers manage & minimize debt; integrates ACTUAL INFO from Experian credit report 
  • GoalMine reminds of goals, “weight watchers for money” and moves money to invest accts; also only way to invest via Facebook” 
  • GoalMine allows users to set “pledges”,eg “stop buying lattes,” then with geo, when walking in Starbucks reminds not to buy 
  • GoalMine launching mobile system for easy “retail” investing; making investing “as easy as updating twitter/facebook feed” 
  • Silver Tail dashboard has column with “user skew”, rates each click’s deviation from expected behavior, red flag for oddities 
  • Silver Tail Systems launching new behavioral monitoring on individual mobile/online clickstream 
  • In addition to credit bureaus, TrustedID monitors black market to see if card stolen; also upsells to choice of 15 paid versions
  • TrustedID launching free ID theft protection service, ID Safe; “free for life” no credit card needed; only distributed via partners 
  • HelloWallet has a secondary navigation category, “Reduce Spending” with item count, good approach; showing examples 
  • HelloWallet has been distributed through employers as employee benefit, but today are opening up to the general public 
  • HelloWallet positioning as online “wealth building service” to differentiate against other PFMs 
  • Wipro mobile also includes expense-claim module, employee time-sheet input, payroll, etc; very comprehensive 
  • Wipro showing easy mobile positive pay system, an important feature for businesses and even consumers who crave extra control 
  • Wipro demoing new mobile solution for small/mid-size business management 
  • Mitek Systems showing the photo capture of a bill, then OCR conversion captures payee name & payment amount 
  • Mitek, which made its name in mobile check deposit, introducing “mobile photo billpay, to pay bills directly with camera phone 
  • Interesting to see “override” (the credit decision) button in the Experian dashboard, looks easy to navigate 
  • Experian Business Information Systems launching Business IQ Premier, an interface for managing credit decisioning 
  • FreeMonee launching today at Finovate, first national gift (card) network delivered; distribution is through banks for trust & convenience
  • Day 2 at Finovate starts with FreeMonee by giving out some $25 Best Buy and Nordstrom gift cards to audience, benefit of sitting up front!
  • That’s a wrap for day 1; turn in those Best of Show ballots for free Starbucks card, see you tomorrow 
  • Backbase showing how banks can customize end-user experience by adding new apps in near-real time; Strands included in app store. 
  • Backbase launching Backbase App Store for online, mobile, and tablet apps 
  • LendStreet is “P2P lending meets credit counseling” and captures discounts lenders offer to get bad debt off their books 
  • LendStreet launches system to help consumers restructure debt with retail investors funding; specialized P2P lending niche 
  • Balance Financial also launching iPhone app with image capture to upload picture of bills to personal bookkeeper 
  • Balance Financial looks at bills received & determines whether to pay automatically or flag for further review; fee-based service 
  • Balance Financial launches alternative to DIY financial management using algorithms, tech & nationwide network of human bookkeepers 
  • ID Analytics demoing mobile integration; cool dashboard with patented ID score on green/yellow/red dial; protect 2 mil users now 
  • ID Analytics, “minutes count with ID theft,” leveraging cross-industry ID network to instantly alert consumers when theft occurs
  • oFlows demoing customer loan app on iPad with signature; using iPad2 camera to upload photos of two forms of ID for compliance 
  • oFlows takes the paper out of paperwork; launching new process which mobilizes the entire product application process 
  • Lendio does a soft-pull from Equifax so there’s no hit to credit score while the biz is loan shopping 
  • Lendio assists the small business lending process by matching qualified prospects with lenders who could reasonably approve loan 
  • Bankons using “Bruene C.U.” in its mobile mockup (gotta love that) and a 2-for-1 offer at Skool after the show.
  • BankOns using Yodlee data aggregation; offers white-labeled turn-key or use of API to integrate directly into FI’s mobile app 
  • BankOns launching today; delivering through the FI geo-located merchant offers, mobile optimized, android and iphone 
  • Dwolla has 10 financial institutions signed, using FiSync; showing dashboard that shows where users are transacting
  • Dwolla is demoing its person-to-person payment app; side note: our 2nd Finovate alum from Iowa (also @smartypig) 
  • Figlo demoing investment tools; today launching iPad app and Android app 
  • Figlo showing its dashboard, advanced online PFM user interface; launching multi-currency
  • Braintree helped LivingSocial sell 1.3 million Amazon gift cards in 24 hours and stay PCI compliant 
  • Braintree providing LivingSocial with credit card acceptance using “transparent redirect API ” to offload risk /compliance 
  • Kiboo mobile has goals, funds transfer, product discovery with geo-location, NFC-enabled POS purchase, social network integration
  • Kiboo launching mobile app companion to the online youth-oriented banking platform 
  • Ready Receipts allows users to upload receipts or, with merchant participation, get paperless receipt at POS and opt out of paper 
  • Ready Receipts launching system to get rid of paper receipts; showing receipt dashboard 
  • See Afiniate in the hall this afternoon; I’m sure their iphone will connect the minute they step off stage 
  • Affiniate launching on-the-go financial coach to turn mobile app into customer’s personal financial advisor 
  • Mint.com launching mobile advice, alerts when available credit gets too low; some advertisers get more leads by mobile than online 
  • Mint.com says 50% of users have smartphone attached to acct; 20-25% of new users coming via mobile app and using mobile only 
  • Bill.com charging $0.49 fee for invoices paid via electronic payment; something businesses will like 
  • Bill.com launching mobile version for biz owner to handle/approve bills, make payments and handle receivables 
  • Bill.com showing online invoicing system for small businesses; moving $2.5 billion in bill payments annually 
  • Showing peerTransfer
    in use at Boston-based Suffolk University; novel use of peer-to-peer services 
  • peerTransfer launching p2p international money transfer service; currently offering for tuition payments for intl students 
  • Wikinvest taking signups for beta users of SigFig 
  • Wikinvest launching SigFig; helps users analyze trading fees & commissions they are paying; compares to peers and other providers 
  • BillFloat showing easy to understand disclosure on complete cost of short-term loan; merchant can offer fee discount 
  • BillFloat system for helping users get individual bills paid, introducing “Less is More” to help users get correct size loan 
  • Profitstarts also allows line-level employees to make individual pricing decisions in the same tool 
  • Jack Henry’s ProfitStars introducing Margin Maximizer Interactive, a system to help FIs make better pricing decisions 
  • Billeo ShopSmart includes option to show Groupon and other daily deals into the interface; working with 2 of top 5 card issuers 
  • Billeo has seen conversions as high as 8% on offers; includes integration to Facebook to share product info 
  • Billeo launching integration of merchant offers into mobile search results; demoing slick integration on iPad 
  • Arroweye can be integrated into secure online banking; choose from clipart or upload own image and resize to fit card exactly 
  • Arroweye Solutions is launching a highly-customized online digital design platform for debit/credit/prepaid cards 
  • Doxo showing for first time the business control panel, dashboard for talking with customers, as easy as tweeting or Facebooking 
  • When billers are connected to user via doxo they can communicate billing info and other account info right through doxo
  • Doxo solving paper statement problem, only 15% paperless; “why isn’t interacting w/ billers as easy as talking to friend @Facebook 
  • HOYOS selling USB device for $99, not a hurdle for business users and high net worth 
  • HOYOS is showing actual live login with eye scan to Twitter, Gmail, Paypal and Facebook and they all worked! 
  • HOYOS launching EyeLock, a biometric system to login to any of your online accounts with iris scan via USB device 
  • Bancbox showing acct opening; integration with LoanBack (p2p loan platform); includes reporting, reg compliance, educational tools 
  • Note to self: copy that cool spotlight Bancbox is using to highlight features on screen 
  • BancBox launching “API to US banking system” (awesome opening line) so fintech startups can quickly offer bank & pay services 
  • Code Green showing how FI clients can customize how their rates look; showing results via Virginia Credit Union mockup 
  • Code Green launching Ratecast to help FIs get their rate info into the market, showing integration with Facebook
  • Kabbage is launching today their support for Amazon merchants in addition to eBay 
  • Kabbage, which funds online merchants, launching system that rewards them (w/ more capital) for adding more data to Kabbage acct 
  • Gold Bullion showing dashboard: buy & choose where metal is stored. Fully audited & insured; integrate with other asset mgmt systems 
  • Gold Bullion International showing online precious metals trading platform; makes buying the metals as easy as buying securities 
  • Xero showing simple report generation via drop-down boxes, makes it easy create and share reports; showing NZ accountant search 
  • Xero out of New Zealand is showing its online accounting dashboard with business indicators to help manage 
  • Intellaegis tools save 1 hour /day per employee plus increases their effectiveness; Findex score = how easy to find person 
  • Intellaegis demoing MasterQueue dashboard which gathers public data on loan holder incl. social networks; develops Findex score 
  • Intellaegis launching system to better manage massive data gathered for loan collections 
  • Bundle’s merchant tool shows average ticket value to see how expensive, showing example from Ozumo in SF; also discovery tools 
  • Bundle is demoing new merchant recommender so users can see where others are spending their $$; calculates loyalty score 
  • Clovr Patch is the consumer UI for tracking offers and redemption; good web 2.0 look and feel; also links offers to mobile 
  • Clovr Media (Card Linked Offers Virtual Redemption) starts Finovate off with huge new opportunity, merchant-funded rewards systems

Finovate Spring 2011 in the Press

2MinuteFinance
What is Finovate?
by Bobby Lee
American Banker
Dwolla Mobile Pay App Uses Location
by Daniel Wolfe 
Bank Innovation
by JJ Hornblass
5 Surprising Choices for ‘Best of Show’ at Finovate
First Bank to Go Live With Mitek’s ‘Mobile Photo Bill Pay’ by Yearend

Mint: ‘Don’t Count Us Out on Payments’
Card Companies Circle BillFloat
FinovateSpring Grades: BancBox, Mitek, eWise, Lead the Pack
Bank Technology News
Aptys Demos Tablet-based Paperless Invoices
by Penny Crosman
6 Best Ideas For Banks at Finovate Day 1
by Penny Crosman


Boston Innovation
The Future of Finance: 3 Boston Startups Demo at Finovate 2011
by Cheryl Morris


Business Wire
FinovateSpring 2011 Best of Show Award Winners Announced by The Finovate Group 

Link 

TILE Financial Unveils Financial Identity Profile to Stengthen Connection Between Financial Advisors and Under-30 Consumers
Link

Celent
Finovate Spring 2011 Roundup
by Jacob Jegher

CNNMoney

CNNMoney.jpg

Log in to Facebook… with your eye
by Blake Ellis


Credit Karma
Finovate Spring 2011: Our Picks


Credit Union Times
by Marc Rapport
CUSO-Backed P2P Specialist Dwolla wins “Best of Show” at Finovate
On-Site Coverage: CUs Need To Look Beyond ‘Comfort Zone’
CUbroadcast
Getting “Mo-cial” at Finovate Spring 2011
by Mike Lawson

DesMoinesRegister.com
Dwolla wins award in S.F., moves closer to “holy grail” of direct access to bank accounts
by Adam Belz

Enhanced Online News
FinovateSpring 2011 Best of Show Award Winners Announced by the Finovate Group

Entrepreneur
How to Cut Transaction Costs on Customer Purchases
by Eileen Gunn
Forbes.jpg
Forbes
Start-ups talk Money, Cash, Credit At Finovate     &nbs
p; 
by Tomio Geron
Link     
Huffington Post
Fintech Leaves Fake-o-nomics Behind
by Ben Mangan

HuffPost.jpg



Lazy Man and Money
Finovate Spring 2011 Live Blog

Links: Part 1, Part 2, Part 3, Part 4, Part 5

MarketWatch
Investing Meets Social Networking
by Stacey Delo
Mashable 
Expenses Made Fun: Expensify Adds Automatic Receipt Scanning [PICS]
by Jennifer Van Grove
MyBankTracker.com
Coupon Clipping of the 21st Century
by Zachary Ehrlich

Thumbnail image for NYTimes.jpg
New York Times
by Ann Carrns
Consumer Reports Offers New Comparison Tool
A Tool To Weigh Debt Payment Options
P2P Lending News
LendStreet to Offer Peer to Peer Debt Restructuring Service
by Matthew Paulson
PaymentsViews
by Jacqueline Chilton
FinovateSpring 2011
FinovateSpring 2011: Best of Show and Glenbrook Perspectives
PCMag.com
Forget Passwords, Eye-Scanning Is Here
by Damon Poeter
PCWorld
Web Services Promise to Save you Money, Slash Paperwork
by Yardena Arar
PYMNTS.com
Outstanding in the Field: FinovateSpring 2011 Showcase
by Tim Attinger


Reuters

Reuters.jpg

Brokerage rip-off datapoint of the day
by Felix Salmon

San Francisco Chronicle

Lendio to Demo Business Loan Matching Tech at Finovate

SFChronicle.jpg


Social Lending Network
LendStreet Takes an Innovative Approach to P2P Lending
by Peter Renton

TechAxcess
Lendio to Showcase Loan Software
Link                                                                            
TECHcocktail
HelloWallet Launches to Consumers to Grow Personal Wealth
by Frank Gruber
TechCrunch
BillShrink Upgrades Its Statement Rewards With Rewards Discovery, Geolocation, And Social Features
by Alexia Tsotsis

TechCrunch.jpg

Google-Backed Corduro Promises Even Lower Mobile Payment Fees Than Square
by Erick Schonfeld
Expensify Adds Intelligent Receipt Scanning To Expense Report System
by Leena Rao
Former eBay, Oracle Execs Raise $11 Million for “Gift Network” FreeMonee
by Robin Wauters
PayNearMe’s Cash Payment Product Can Now Be Used For Money Transfers, Bill Pay and More
by Leena Rao
The Simplifier
What Was Missing at Finovate
by Bryan Link
TMCnet.com
PayNearMe Awarded Best of Show at FinovateSpring 2011
Venture Beat

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No more deadbeat friends: PayDivvy launches social bill service
by Anthony Ha
Washington Post
The Download: HelloWallet debuts its financial health software
by Steven Overly
Williammillsagencyevents
Finovate Spring San Francisco Live Blog
Xconomy Boston
PeerTransfer, Inspired by Raw Deals for International Students, Rolls Out Online Tuition Payment Service
by Gregory Huang

Alumni News: Week of May 2 and May 9

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Finovate_Alumni_news.jpg

Backbase

backbase.jpg

Backbase will provide TCS Bank in Russia with a website integration solution through Bank 2.0 Portal. Link

Bill.com

Bill.com rolled out Sage Peachtree Sync, software for controlling bill payment and management. Link

BrightScope

BrightScope released its second annual list of the Atlanta-based companies with the best 401k plans. Link

CashEdge

CashEdge expanded Popmoney service by adding Popmoney for Prepaid. It also announced a partnership with TxVia. Link 

CashEdge.jpg


Check Point Software Technologies

Check Point was listed on Acadian Asset Management’s Top 15 Buys list.  Link


Cortera

Cortera announced a new version of its PULSE app, a customer monitoring service. The new version will add Growth Clues alert.  Link


DebtGoal

DebtGoal.jpg

DebtGoal hired Igor Vaks, former Experian CIO, as new COO. Link


eToro

eToro emerged as the preferred platform for building forex wealth through web trading.  Link

Expensify

Expensify advertised on giant billboard in the Bay Area. Link

Fiserv

fiserv.jpg

Fiserv announced improvements to its Relationship Rewards. Link

ID Analytics

CoreLogic partnered with ID Analytics to integrate ID Network with LoanSafe Fraud Manager. Link

ID Analytics will host Advance 2011, its 9th Consumer Risk Management Conference, this September.  Link

IP Commerce

IP Commerce recently raised another round of funding. Link

Lending Club

Lending Club issued a record high of $17.5M loans in April. It is the 4th record month in the past 5. Link

Lending Club won Webby Award for the Banking/ Bill Paying category. Link


Mint 

Mint won Webby Awards for the Financial Services category. Link

MoneyAisle

Mone
yAisle launched live auctions for unsecured personal loans to help consumers across a wide range of credit scores. Link

PayNearMe

paynearme.jpg

PayNearMe raised $16M in funding from new and current investors. Link

Plastyc

Plastyc won a patent for improved online payment methods. Link

Prosper

Prosper increased loan volume by more than 50% compared to 3 months ago, issuing over $5M in new loans in April. Link

Yodlee

Yodlee is looking into developing mobile apps with new “FinApp Store” strategy. Link