Finovate Alumni News– December 6, 2011

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  • P2P Lending News reports Prosper & Lending Club issued $37.4 mil in loans in November.
  • Trade Streaming interviews Rob Foregger, co-founder of Personal Capital, on the future of online investing.
  • mFoundry receives $18 mil in growth capital from MasterCard, Intel, FIS, and Motorola Mobility.
  • Bank Systems & Technology looks at how USAA uses Yodlee to aggregate accounts and power its PFM.
  • SavvyMoney (Formerly DebtGoal) launches new site, adds Jean Chatzky to team.
  • Steve Shivers, doxo CEO, speaks up about the potential cuts to the US Postal Service.
  • Credit Unions see positive results from Mortgagebot PowerSite technology.
  • Q2ebanking ranks on The Austin American-Statesman’s List of Top Workplaces.
  • Zecco unveils its new Trading Center.
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.

GoalMine To Launch Holiday Gift Card Trade-in Service

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GoalMine, an investment service targeting the mass market, announced its holiday gift card trade-in service that will allow consumers to fund investment accounts using gift cards with leftover balances in excess of $25. 

Here’s how it works:

“After entering gift card numbers and values, customers will be prompted to create a free account, after which they can choose to apply their gift card values to one of GoalMine’s mutual funds or an FDIC-insured savings account. Accounts areGMGiftCard.jpg goal-based, so customers can easily allocate funds toward goals like buying a home, preparing for a new baby, or saving for a rainy day.”

The service will begin December 19 and last for a limited time after the holidays.

To learn more about GoalMine, watch its FinovateSpring 2010 demo.

Two Credit Unions Deploy Credit Karma’s Tools On Their Online Banking Platforms

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NorthCountry FCU and A+ FCU members now have free access to Credit Karma’s credit management tools on their online banking website:

“Through a member-centric approach, Credit Karma’s service provides a monthly credit score and a suite of personalized credit management tools. The tools enable members to access their credit scores, easily digest information on credit scoring, empower informed financial decisions, and put their credit to work to get the best products for their credit profile.”

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Credit Karma provides the same white-label service to over a dozen credit unions and also makes the tools available to the public at creditkarma.com. 

To learn more about Credit Karma, watch its FinovateStartup 2009 demo.

Weemba Adds 3 Financial Institutions To Its Network of Lenders

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Social lending platform Weemba announced today that its network of lenders has expanded:

“New Weemba lenders include Crossroads Financial, Mercantile Capital Corporation and MedChoice Financial/Perform Finance, bringing the total number of lenders in the Weemba community to more than 30.”

In the four months since its launch, Weemba has seen hundreds of loan applications that range from $1,000 to 1 million.

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

Finovate Alumni News– December 5, 2011

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFox Business News recommends banking with Simple as a way to counter bank fees.
  • The Sacramento Bee reports SafetyPay expands to U.S. marketplace in the airline & travel payments industries.
  • GeekWire reports Lighter Capital awards undisclosed amount of cash to HireAHelper.
  • Barganeering looks at what sets Personal Capital apart from Mint.com.
  • Business Insider explores the differences between SecondMarket and SharesPost.
  • Sun Life partners with Kony on claims mobile app.
  • Weemba adds 3 financial institutions to its network of lenders.
  • Two credit unions deploy Credit Karma’s tools on their online banking platforms.
  • GoalMine to launch holiday gift card trade-in service.
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.

BECU Implements Leadfusion’s Guided Selling

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Leadfusion announced yesterday that Boeing Employees Credit Union is the latest FI to implement its Guided Selling platform that helps empower customers when selecting product offerings.

Since launching Guided Selling, BECU reports positive results:

“We have seen an astonishing 45% engagement with the dialogue and CTR (click-through-rate) to the product comparison/selection tools, and 16% of those applying for a product directly from the Guided Selling tool.”

To learn more about Leadfusion, watch its FinovateFall 2010 demo.

Three Finovate Alumni Listed in Forbes Top 20 Private Companies

Earlier this week, Forbes published a list of America’s 100 most promising private companies.  The rankings are based on annual revenue, number of employees, company strengths, partnerships, and a number of other qualifications. 

Three Finovate alumni made it onto the list, all the top 20:

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BOKU
Rank: 2
Category: Mobile payments platform
Founded: 2009
Funding: $38 million
Headquarters: San Francisco
FinovateEurope 2011 demo

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SecondMarket
Rank: 8
Category: Alternative trading platform
Founded: 2004
Funding: $34.2 million
Headquarters: New York
FinovateStartup09 demo

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Lending Club
Rank: 20
Category: P2P Lending Platform
Founded: 2006
Funding: $77.7 million
Headquarters: San Francisco 
FinovateStartup09 demo

To learn more about the ranking methodologies, visit here.

Finovate Alumni News– December 2, 2011

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  • MasterCard and mFoundry executives discuss partnership.
  • The Silicon Prairie names Dwolla number 1 startup in DesMoines, looks for a number 2 startup following the “Dwolla-trajectory.”
  • Simple is slowly sending out a few dozen invites at a time.
  • Prosper announces its support of UK P2P Finance Association.
  • The Social Lending Network shows off Lending Club’s Trading Platform.
  • Bloomberg Businessweek lists Expensify as an app that lets you work like an executive.
  • peerTransfer partners with Nelnet Business Solutions, provider of campus commerce services.
  • Boku, SecondMarket, & Lending Club listed in Forbes Top 20 Private Companies.
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 Now Free For Transactions Under $10

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Mobile payment startup Dwolla announced today that it will no longer charge a 25-cent fee for transactions under $10.

Dwolla assures its clients that there will be no changes to the product or service and that merchants will receive the same benefits.

On a separate note, Dwolla is celebrating its one-year anniversary of its national rollout today.

To learn more about Dwolla, watch its FinovateSpring 2011 demo

PeerTransfer Partners with Tuition Management Systems

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PeerTransfer, a startup that facilitates international tuition payments, announced a partnership with Tuition Management Systems, an organization that helps students manage college costs. 

“Through the partnership, families will be given additional flexibility and be able to make tuition and other education related payments, typically in the currency of their home country.”

The peerTransfer platform will be available to Tuition Management Systems’s network of over 700 schools across the nation. Students of these schools will benefit from lower fees and favorable exchange rates, saving up to $1,500 on a $40,000 tuition payment

To learn more about peerTransfer, watch its FinovateSpring 2011 demo.

MasterCard Invests in mFoundry to Bring PayPass to Mobile Phones

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Mobile banking solutions provider mFoundry announced a partnership with MasterCard yesterday. 

The new alliance will enable mFoundry to provide its network of over 500 financial institutions with MasterCard’s NFC-based PayPass technology. 

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To learn more about mFoundry and MasterCard, watch mFoundry’s FinovateFall 2010 demo and MasterCard’s FinovateFall 2011 demo.

Continuity Control Doubles 3rd Quarter Revenue, Partners with BancVue

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Compliance management company, Continuity Control, recently announced that it doubled revenue in the third quarter of 2011:

“As it did in the first two quarters of 2011, the company doubled its revenue again in the third quarter with growth in markets across the country.”

Along with this pattern of growth, it also announced a partnership with BancVue, a company that provides marketing and consulting solutions to community financial institutions. 

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To learn more about Continuity Control and BancVue, watch Continuity’s FinovateSpring 2010 demo and BancVue’s Finovate 2009 demo.