Author: Julie Muhn (@julieschicktanz)

Xero Receives $4M R&D Grant from New Zealand Government

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

XeroLogo.jpg

New Zealand-based accounting software company, Xero, received a Technology Development Grant from its government yesterday. The $4 million will be doled out over the next three years to speed up the startup’s research and development. Xero hopes this will, in turn, increase exports.
“Xero contributes significantly to New Zealand exports,” says Rod Drury. “The majority of our future growth will come from customers in Australia, the UK, USA and new territories. This grant helps speed up our export drive into these territories and beyond.”
For more information on Xero’s cloud-based accounting software, check out its FinovateSpring 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

peerTransfer Receives $7.5 Million in Series A Financing

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

Peertransferlogo.jpg

International education payment startup, peerTransfer, announced a round of $7.5 million in Series A funding from Spark Capital, Accel Partners, Maveron, and Boston Seed Capital.
“The funding will be used to increase headcount and infrastructure across functional areas to support growth as it expands the number of colleges and universities it works with. peerTransfer already works with over 30 leading institutions…”
This round, when added to the $1.1 million in seed money received last October, brings the startup’s total funding to $8.6 million.
To learn more about peerTransfer’s international education payments processing, watch its FinovateSpring 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

ActivePath & Cardlytics Partner to Offer Transaction-based Marketing in Email Statements

By Julie Muhn (@julieschicktanz) Posted on
Categories: ActivePath, Cardlytics
Last week, ActivePath and Cardlytics announced a joint marketing agreement that will combine

ActivePathLogo.jpg

ActivePath’s email banking technology with Cardlytics’ transaction marketing platform.
“With this partnership, banking customers can 
receive enhanced offer-carrying eStatements

Thumbnail image for CardlyticsLogo.jpg

 directly into their inbox to be viewed and transacted from within in the email message at their convenience without the need to log on to the bank’s website or download the statement. Additionally, this partnership will provide banks and retailers with the ability to utilize transaction-based marketing in the eStatement, a win-win solution that can help increase transaction volume, enhance customer relationships and generate new revenue.”
To learn more, watch ActivePath’s FinovateFall 2010 demo and the FinovateEurope demo from Cardlytics in 2011.

Share this:

Send Post Twitter LinkedIn Facebook

Weemba Launches Social Lending Platform

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

WeembaLogo.jpg

Miami-based Weemba launched a social lending site today. This social network-like platform allows borrowers to create profiles in order to share more about themselves and their project.
“Profiles may include everything from the borrower’s income, education level and veteran status (individuals) to number of employees, annual sales or revenues, and articles of incorporation (business). Borrowers can upload images, videos and files that support their loan projects, better showcasing them for lenders.” 
Thumbnail image for Weemba Screen.jpg
Come see Weemba’s demo at FinovateFall in New York this September 21-22. Get your ticket here.

Share this:

Send Post Twitter LinkedIn Facebook

Lighter Capital Looking to Loan $500K to a Small Business in August

By Julie Muhn (@julieschicktanz) Posted on
Categories: Lighter Capital

lighterCapitalLogo.jpg

Lighter Capital, a startup focused on financing small businesses, announced its goal to provide up to $500,000 in financing to a business with “explosive” revenue potential.
The reasoning behind this effort is:
“We heard the banks were tightening credit, so we decided to do the opposite…. If the banks aren’t going to fund awesome, growing companies, we will, no matter what the market does.”
The loan will go to a business in the pyrotechnics area that applies by 5PM Pacific Standard Time on August 31, 2011.
To see Lighter Capital’s new fintech developments, come see its live demo at FinovateFall this September. Get your ticket here.

Share this:

Send Post Twitter LinkedIn Facebook

Expensify Launches New “Crop & Rotate” Feature

By Julie Muhn (@julieschicktanz) Posted on
Categories: Expensify
Expense-management startup Expensify announced a new feature that allows the user to 

Expensify.jpg

crop and rotate receipts. 
The functionality is simple: 
1) In the Edit dialog, select Rotate/Crop
2) Adjust the image as needed
3) Save the image
ExpensifyCropEdit.jpg
Made a mistake? It even allows users to undo changes to receipts by restoring the original copies.
For more information, see Expensify’s FinovateSpring 2011 demo here.

Share this:

Send Post Twitter LinkedIn Facebook

Inc.com’s Interview with SecondMarket CEO Barry Silbert

By Julie Muhn (@julieschicktanz) Posted on
Categories: SecondMarket
Inc. Magazine released the interview below with SecondMarket CEO, Barry Silbert, who

SecondMarket.jpg

 discusses how he began the startup. 
The interview highlights Silbert’s success in creating liquidity in private markets and shares his lessons learned as an entrepreneur.

To see SecondMarket’s innovations in action, check out its FinovateStartup09 demo.

Share this:

Send Post Twitter LinkedIn Facebook

eToro’s Blog to Syndicate Content from Financial News Site Benzinga.com

By Julie Muhn (@julieschicktanz) Posted on
Categories: eToro
In order to provide its users with a wide variety of topics and points of view, eToro has formed a

etoro2.jpgsyndication deal 

with news site Benzinga.

“eToro has employed several Benzinga writers who will create content specifically designed for the eToro user. This content will be posted in addition to the blog’s regular daily updates, multilingual daily and weekly technical analysis, and various columns such as Trader’s Insight and Social Trading.”
eToro is hoping the new addition will provide its readers with relevant content that is easy to understand.
To learn more about eToro, check out its FinovateEurope demo and see its newest fintech development at FinovateFall in New York this September. Get your ticket here.

Share this:

Send Post Twitter LinkedIn Facebook

BankSimple Receives $10M in New Funding and Partners With Visa, Andera, Bancorp Bank and Others

By Julie Muhn (@julieschicktanz) Posted on
Categories: Andera, Simple

BankSimple.jpg

BankSimple announced a new round of VC funding, $10 million from IA Ventures, Shasta Ventures, and other existing investors.
The banking startup also announced partnerships with Finovate

andera.jpg

alums Visa and Andera, along with The Bancorp Bank, TxVia, Allpoint, and CBW Bank.
Andera’s press release reports that BankSimple,
“…will use the Application Risk Management and Funding Risk Management components of Andera’s software development kit (SDK) to power its online account opening process.”
BankSimple is readying for its launch later this year. Come see its first live demo at FinovateFall in New York next month where Andera will also be showcasing its new technology. Get your FinovateFall ticket here.

Share this:

Send Post Twitter LinkedIn Facebook

New Solution From Confident Technologies Uses Mobile Pictures for Additional Security

By Julie Muhn (@julieschicktanz) Posted on
Categories: Confident Technologies
Last month, Confident Technologies released Two-Factor Mobile Authentication, a

Thumbnail image for ConfidentTech2.jpg

new security solution that is both multi-layered (referring to a second level of security before login) and multi-factor (referring to the use of a second, out-of-band device: the user’s cell phone).
 
How it works
1) Enroll online at your bank.
CTBankLogin3.jpg
2) Select three categories that are meaningful to you. In the example below, food, beverages, and airplanes were chosen.


CTImageShieldChoice.jpg


3) During future website logins requiring multi-factor identification,* the bank 

sends a text message with a link (as shown below) or a push notification through a smartphone app. 
Thumbnail image for IMG_0118.PNG
4) After clicking the link, an image-based challenge appears as a grid of randomly-generated pictures. The user clicks on the three categories previously chosen (in this case food, beverages, and airplanes). 
The pictures and grid locations vary, so it is extremely difficult for a virus to capture the unique authentication code created. 

Thumbnail image for Thumbnail image for IMG_0119.PNG

5) Once the bank receives confirmation that the correct pictures were selected, the online banking session proceeds automatically. 
More secure than text-message solutions
While many banks use multi-factor authentication via text-message for security, there are two risks that still exist:
1) The message can be intercepted using malware.
2) The user’s cell phone could be stolen or “borrowed” providing the thief account access if they know the user’s username/password.
Because the hacker doesn’t know your preselected categories, Confident’s System provides an extra dose of security.
More Information  
__________________________________
* Two-factor identification is often required when logging in from a new IP address, different device, or other unexpected condition.

Share this:

Send Post Twitter LinkedIn Facebook

Alumni News — Week of August 1, 2011

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bobber Interactive, BrightScope, ChargeSmart, Check Point, ClairMail, Clovr Media, Credit.com, Doxo, Dwolla, edo Interactive, eToro, eWise, Expensify, Kony Solutions, Lending Club, Lendio, Mitek, Monitise, On Deck Capital, Robot Dough, SafetyPay, SecondMarket, Striata, The Receivables Exchange, TradeKing, Wonga, Xero
Thumbnail image for Thumbnail image for AlumNewsIMG.jpg
Bobber Interactive

Bobber.jpg

Tech Flash interviewed Eric Eastman, Bobber Interactive’s CEO, on how the gamification of money management aims to help Generation Y better manage their money. Link 
BrightScope
BrightScope released a report detailing the top 12 small-cap funds in America’s 401k plans. This report is part of a series that provides insight into the top funds and managers in the retirement marketplace. Link
ChargeSmart
Discover is offering an instant rebate to customers who pay their utility bills using a Discover Card on ChargeSmart’s website. Link

Check Point Software Technologies
  • Check Point enhanced its Software Blade Architecture by releasing R75.20, a comprehensive approach to security that includes a URL filtering Software Blade, SSL inspection, and data loss prevention. Link
  • The Wall Street Journal discussed Check Point’s ZoneAlarm SocialGuard that helps parents protect children on Facebook in a non-intrusive manner. Link
Clairmail
Clairmail announced  record growth this quarter, with more than a 60% increase in bookings from last quarter. Link
Clovr Media

Clovr.jpg

  • BostInnovation stated that Clovr Media is changing the way consumers collect loyalty rewards through its Card-Linked Ads that allow consumers to access rewards by clicking on an advertisement. Link
  • Mass High Tech’s weekly Startup Watch listed Clovr Media as one of five startups to follow. Link
Credit.com 
EQuicknews listed Credit.com as a free way to check your credit score with no strings attached and highlighed the Credit Report Card feature. Link
doxo 
The Appvita blog profiled doxo, noting insider tips and practical uses, such as comparing bills on a month-to-month basis. Link
Dwolla
Bank Technology News looked at the players in the mobile payments space and listed Dwolla as a formidable competitor. Link
EDO Interactive

edointeractive.jpg

EDO Interactive received $20 million in Series B funding to grow its Prewards platform that enables advertisers to offer digital deals and incentives that consumers redeem by using their existing credit, debit, or prepaid cards. Link
eToro
eToro began a trading contest for users with both demo and live trading accounts. Traders who accumulate the greatest gains will win each round. Link
eWise
eWise added Renasant Bank to its customer base, providing Renasant customers access to Secure Vault Payments, an alternative payment method. Link
Expensify
  • Expensify added a new feature that provides QuickBooks users a way to easily identify billable expenses to add to invoices. Link
  • The Kitsap Peninsula Business Journal listed Expensify as one of ten business apps for empowering your inner geek. Link
Kony Solutions 

kony solutions.jpg

Tower Group, in its Review of North American Consumer Mobile Banking Technology Vendors, ranked Kony Solutions among the top mobile banking technology vendors. Kony excelled in the feature/function and customization categories. Link
Lending Club 
TechCrunch highlighted Lending Club’s announcement of $25 million in Series D financing from Union Square Ventures and other existing investors. Link
Lendio
Lendio added Cardinal Bank to its network of lenders providing clients with more options in finding equipment loans, business lines of credit, acquisition financing, commercial real estate, SBA 7(a) and SBA 504 loans. Link

Mitek Systems
Mitek Systems launched  Mobile Imaging Cloud Service that captures, extracts, and routes information contained in documents. The service helps app developers create smartphone and tablet apps that use a camera input function. Link
Monitise 
Monitise Asia Pacific launched its mobile banking, payments, and commerce services in Indonesia and signed a joint venture agreement with PT Astra Graphia Information Technology, an information and communication business. Link
On Deck Capital

on deck capital.jpg

On Deck Capital raised $19 million of its own in a Series C round of funding. Link

RobotDough 
RobotDough founder, Wilton Risenhoover, revealed why he started RobotDough and how it works. Link
SafetyPay
SafetyPay received a Payment Services Directive License to provide cross-border payments throughout Europe strengthening its position in that market. Link
SecondMarket 
BostInnovation used SecondMarket’s alternative investments platform to discover top Boston companies. Link
Striata

striata.jpg

Baton Rouge Water Company selected Striata, along with payment services company Western Union, to provide email billing with integrated electronic payment service. Link
The Receivables Exchange 
Treasury & Risk profiled The Receivables Exchange, describing the process companies use to sell their receivables on the online platform. Link

TradeKing
TradeKing launched a $100 bonus for new customers who open an account by August 31, 2011. Link
Wonga 
Smarta interviewed Wonga director, John Moorwood, about Wonga’s growth over the past 12 months. Wonga is now issuing over 1.5 million short-term loans. Link
Xero
Xero released Xero Touch, its new accounting app for the iPad, iPhone, and iPod Touch. Link

Share this:

Send Post Twitter LinkedIn Facebook

Dwolla Passes $1 Million In Transactions Per Day Milestone

By Julie Muhn (@julieschicktanz) Posted on
Categories: Dwolla
Payment platform Dwolla has been circulating around news headlines lately, and for good 

Dwolla.png

reason. The startup recently announced that it is processing more than one million dollars in transactions per day. This news comes just seven months after launching its service and three months after achieving one million dollars in transactions per month.
Profile
Location: Des Moines, IA
Funding: $1.31 million
Founded: June 2008
Users: 20,000
Business Model: Dwolla charges merchants 25 cents per transaction.
User Experience
There are multiple ways to pay using Dwolla. The following scenario walks through the user experience of purchasing a coffee.
1) After establishing a profile, enter your bank account information. Here’s the email that describes how to verify your bank account:

BankAcct.jpg

2) Transfer funds from your bank account into your new Dwolla account. Dwolla confirms that funds are now available:
 

Dwolla Funds.jpg

3) Find a business that accepts Dwolla payments. Dwolla Spots (mobile and online) locates a business near you, like this coffee shop:
IMG_0106.PNG
3) To purchase your coffee, tell the cashier you’ll be paying with Dwolla. Find and select the merchant on Dwolla Spots, then enter your PIN and the payment amount.
Thumbnail image for IMG_0109.PNG
4) Review the payment amount and send the money to the merchant. 
IMG_0110.PNG5) The merchant completes the transaction using a Dwolla “Kiosk” on an iPhone, Android, Windows 7, or computer with a wi-fi connection. Here’s what it looks like from their side:

MerchantExperience.jpg

 
That’s it. There’s no dirty cash or digging out a credit card. And for the merchant, there is no extra hardware necessary and no need to store credit card information.
To learn more, check out Dwolla’s website or FinovateSpring 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook