Author: Julie Muhn (@julieschicktanz)

Credit Sesame’s Badges Give Users a Certification for Financial Responsibility

By Julie Muhn (@julieschicktanz) Posted on
Categories: Credit Sesame

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Finishing off the first morning session, Credit Sesame demonstrated its Certified Badge program:

“It not only authenticates your identity online, but also certifies that you are financially responsible and trustworthy because of your good credit. After signing up for Credit Sesame, you are able to get and easily display your Certified badge on your social media profiles, email signatures, resume, blog/personal website, and other web-based locations. 

Obtain different levels of badges based on your credit rating and credit management and customize your badge verification page. Credit Sesame’s Certified Badge helps you stand out and gives you an edge that can make a real difference in today’s complex, competitive world.”

Product Launched: September 2010 
HQ Location: Sunnyvale, CA 
Company Founded: January 2010 
Metrics: $7.1M raised, 15 employees
Presenting Adrian Nazari (CEO) & Irene Shubladze (VP Marketing)

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Rebirth Financial’s JAS Rating System Grades Financial Health of Small Businesses

By Julie Muhn (@julieschicktanz) Posted on
Categories: Rebirth Financial

Rebirth_Financial.jpgLater this morning, Rebirth Financial 

debuted the JAS Rating System:

“A first-of-its-kind scoring system that determines the financial health of a small business. The JAS Rating System delivers a clear 1 through 100 score for small businesses, and displays industry specific comparisons. 

S&P and Moody’s can predict the financial health of a publicly traded business with a close to 96% accuracy. The JAS Rating System can predict the financial health of a private business with 86% accuracy.”

Product Launched: September 2011

HQ Location: New Orleans, LA 
Company Founded: February 2010  
Metrics: Initial funding raised, Multimillion dollars in loans requested through the platform, operations in multiple states

Presenting Chonchol Gupta (CEO) & Xavier Cabo (COO)

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RobotDough Introduces A Portfolio Monitoring Service

By Julie Muhn (@julieschicktanz) Posted on
Categories: RobotDough

Thumbnail image for RobotDough.pngThis morning, RobotDough demonstrated a portfolio monitoring service that scans for accounting red flags:

“We’ve developed an extensive set of accounting rules based on forensic accounting analysis that looks for hidden accounting red flags. Every night, after we receive new financial data from our providers, we apply those rules to our database of 45,000 companies to find hidden accounting problems. Users can link their brokerage accounts directly to RobotDough and we will automatically crosscheck our database of red flags with their portfolio companies. If we find any problems, we notify the user immediately, so they can take action before the stock price moves.”

Product Launched: September 2011

HQ Location: Los Angeles, CA
Company Founded: July 2010
Presenting Wilton Risenhoover (CEO) & Olivier Moratin (VP of Product Development)

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With Kabbage’s SocialKlimbing, Online Merchants Benefit From Being Social

By Julie Muhn (@julieschicktanz) Posted on
Categories: Kabbage

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This morning, Kabbage demonstrated SocialKlimbing, which enables online merchants to benefit from engaging in online social activity:

“Kabbage has launched the SocialKlimbing feature of its system, which enables online merchants to associate their social activities with their Kabbage account. By doing so, Kabbage incorporates information from these social media sites to underwrite risk and enable online merchants to receive a benefit by actively engaging with audiences interested in their products and services.”

Product Launched: June 2010 
HQ Location: Atlanta, GA 
Company Founded: February 2009 
Metrics: Just under $26M raised from accredited investors and partners, 22 employees
Website: kabbage.com
Presenting Marc Gorlin (Chairman & Co-Founder) & Kathryn Petralia (COO)

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Segmint Helps Banks Use Facebook to Better Understand Clients

By Julie Muhn (@julieschicktanz) Posted on
Categories: Segmint

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Today, Segmint introduced SegmintSocial, a platform that enables financial institutions to use Facebook to better understand their customers and interact with them on Facebook:

“Today, when responding to customer posts on Facebook©, Financial Institutions (FIs) do not have visibility into the relationship that they have with that customer. With SegmintSocial, the FI employee monitoring Facebook now has a complete list of KLIs and an understanding of the product mix, demographics and lifestyle spending patterns of customers when they post on the FI’s Facebook page. SegmintSocial also provides the FI customer a Facebook page containing customized FI and reward offers. These two unique online experiences enable the FI to deliver a more engaging and relevant social experience for their customers.”

Product Launched: September 2011

HQ Location: Akron, OH
Company Founded: 2008
Metrics: 24 employees, 10 patents pending
Website: segmint.com
Presenting Rob Heiser (Co-Founder & CEO) & Nate Shahan (Co-Founder & VP Product Development)

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Betterment Enables Goal-Based Decision Making

By Julie Muhn (@julieschicktanz) Posted on
Categories: Betterment

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Next, Betterment shared Multiple Goals, a feature that helps consumers make smart decisions:
“Betterment is committed to helping consumers make the right investing decisions to meet their financial goals. Our new goal based tool enables users to make smart, goal-based investment decisions. In keeping with Betterment’s easy and intuitive user experience, we’ve created a simple three step process that empowers users to invest towards specific goals.
Step 1 – A user identifies their goal (i.e. retirement, buy a house, vacation, etc.), when they want to reach this goal, and how much they will contribute towards this goal.
Step 2 – User selects short term risk tolerance for this particular goal, based on Betterment’s projections of likely return, potential upside and downside.
Step 3 – User selects long term risk tolerance for this particular goal, based on Betterment’s projections.
After completing these three steps, the user receives a recommended portfolio allocation, and, can set their portfolio for this goal with just one click. Reaching future goals through investing is now faster and simpler than ever before!”
Product Launched: September 2011
HQ Location: New York, NY 
Company Founded: August 2008 
Presenting Jon Stein (Founder & CEO) & Anthony Schrauth (SVP Product)

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Google Advisor Allows You to Check Mortgage and Credit Card Rates in Real Time

By Julie Muhn (@julieschicktanz) Posted on
Categories: Google

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This morning, Google demonstrated Google Advisor, a technology that allows you to check rates in real-time:
“With Google Advisor, you enter information about what you’re looking for in a mortgage, credit card, CD, or checking and savings account. We show you a list of the offers that match your criteria, along with rates and contact information. Google Advisor is designed especially to help you make these difficult financial decisions easily, with:
  • Speed: As you change your criteria, the results update instantly. You’ll still have a list of all your options in one place, so you can quickly compare different offers.
  • Trust: By setting your own search criteria, you’re able to see only those offers and rates that apply to you, which means you can compare applicable offers without even contacting a provider first.
  • Control: You only need to provide the minimum amount of information we need to show you offers that are right for you. You have full control over what you want to share, and which providers you choose to talk to–and you don’t have to submit any personal information until you want to.”
Product Launched: May 2011

HQ Location: Mountain View, CA 

Company Founded: January 1996 
Website: Google.com
Presenting Dan Shapiro (Product Manager for Google Advisor)

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Demyst.Data Offers Predictive Analytics to Optimize Your Lending Portfolio

By Julie Muhn (@julieschicktanz) Posted on
Categories: DeMyst Data

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This morning, Demyst.Data launched its predictive analytics tool that offers portfolio optimization:
“Demyst.Data is a web based modeling toolkit to help lenders grow thin file portfolios without increasing their risk levels. With minimal inputs, the tool provides for better segmentation on customers typically rejected due to a lack of data through:
  • Convenient access to rich consumer level data including telecommunications, geo-location, demographics, and social networks.
  • Proprietary statistical techniques that outperform logistic regression when working with emerging messy data sources.
  • Painless technology to configure and integrate bespoke API’s which bridge the gap between your current processes and optimized product offers.”
Product Launched: September 2011 at FinovateFall 2011

HQ Location: New York & Hong Kong 

Company Founded: June 2010 
Presenting Mark Hookey (Founder) & Kevin Denberg (Co-Founder) 

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Weemba Puts Borrowers In Control of the Lending Process

By Julie Muhn (@julieschicktanz) Posted on
Categories: Weemba

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Kicking off FinovateFall this year, Weemba demoed its social platform that matches borrowers and sellers. It allows borrowers to choose which lenders see their profile. With this platform:

“Borrowers create a profile under a nickname, and post a project to obtain financing from one of the many professional Lenders registered in Weemba. Besides the reason for and amount of a loan, profiles may include everything from the Borrower’s income, education level and veteran status (Individuals) to their number of employees, annual sales or revenues and articles of incorporation (Businesses). 

Lenders will be able to search projects created by those Borrowers and narrow them down by credit score, amount needed, location, type of loan and more. When a Lender finds an interesting project, the Lender then may ask the Borrower for access to their real identity, as well as private details about the project. Professional Lenders will be able to find the exact Borrowers they want, not information that is old, recycled, uncertain or vague. If the Borrower grants access to the Lender, all further contact and any negotiations take place outside Weemba.”

Product Launched: August 2011

HQ Location: Miami Beach, FL

Company Founded: January 2011
Metrics: $5.5 million raised, 18 employees

Website: weemba.com
Presenting Annette Gallagher (CEO) & Matthew Reid (Chief of Lender Relations)

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HelloWallet Sees Growth, 7 Million U.S. Workers To Benefit From PFM

By Julie Muhn (@julieschicktanz) Posted on
Categories: HelloWallet

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Earlier this week, HelloWallet announced the success of its PFM service designed for the employees of Fortune 500 companies:
“(HelloWallet) sold over 200,000 memberships to leading employers since launching their full application in May.” 

The startup also announced new partnerships with employee benefits providers that collectively serve over 7 million U.S. workers, which will roll-out through 2013. The adoption and enrollment of this service among employees is also impressive:

“Average take-up rates among Fortune 500 employer partners of HelloWallet also continue to exceed industry standards, now up to an average 20 percent enrollment rate within 3 months of launching.”

To learn more about HelloWallet, watch its FinovateSpring 2011 demo here.

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Micronotes & Yodlee Power Logout Promotions at 1st Advantage Credit Union

By Julie Muhn (@julieschicktanz) Posted on
Categories: Micronotes

Thumbnail image for Micronotes (2).jpgLast week, Bank Technology News reported how 1st Advantage Federal Credit Union transitioned away from banner ads during online banking sessions due to low clickthrough rates.

In place of banner ads, the CU implemented KulaX from Massachusetts-based Micronotes:
“(KulaX) presents three questions, targeted to a specific user and designed around a specific product. The questions are presented only when the user logs out.
The technology can use either transaction data gathered by the bank or its own analysis engine to target its questions. KulaX tracks responses and the actual use of the offers it presents.”

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The Credit Union has also partnered with Yodlee:
“In addition to cross-selling bank products, Micronotes can present merchant-funded offers through another product it has developed with the vendor Yodlee Inc. called Yodlee Offers.”
According to Yodlee, the merchant-funded rewards will be more data-intensive and thus better targeted.
Both Micronotes and Yodlee will be presenting next week at FinovateFall. Get your ticket here. To learn more, watch Micronotes’ FinovateFall 2010 demo and Yodlee’s FinovateEurope2011 demo.

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doxo Adds Sound Community Bank to Network of Providers

By Julie Muhn (@julieschicktanz) Posted on
Categories: Doxo

doxologo9.11.jpgLast week, doxo, a digital billing and statement organization system, announced that Seattle-based Sound Community Bank has joined its network.

“Sound Community Bank clients can now receive paperless statements and other documents from their bank directly in their doxo digital file cabinet. With doxo, Sound Community Bank significantly reduces the costs associated with printing and mailing documents, while offering their clients a convenient free tool for managing their account without paper.”

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In addition to managing their account, Sound Community Bank clients can also use doxo to store personal documents such as medical records and receipts. 
To see how doxo works, watch its demo from FinovateSpring 2011.

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