Marketing: Bank of America Offers $25 to Reactivate Visa Card

imageLast fall, my primary personal credit card from Bank of America was compromised, and I was issued a new one. While I was waiting for the new card to arrive, I got in the habit of using another bank’s card. When the replacement card arrived, I stuffed it in a drawer, unactivated and still stuck to the mailer, forgetting I’d ever received it.

Fast forward six months, and I get an email this morning from Bank of America, offering $25 if I spend just $250 on the moth-balled card before June 30 (screenshot below). Coincidently, I’d just run across the forgotten card while doing a little preliminary tax prep. 

The offer requires activation, a smart move that avoids paying out $25 to someone who never even noticed the offer. And I was pleasantly surprised that I had to do nothing more than click the Activate Now button in the email. Within a few seconds I was greeted with a confirmation delivered through a BofA webpage (second screenshot; see update below).

Bottom line: It worked. I’ve got the BofA card back in my wallet, and I’ll be using it tomorrow. And as I’m sure the bank knows, they are likely to make the $25 back within a month or two, assuming I resume my previous charging behavior. Well done, BofA card marketing dept. 

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Bank of America email offering $25 cash back to reactivate my credit card (3 April 2012)

  email from Bank of America offering $25 cash back

The one-click activation process* took us to this screen on the BofA website

Bank of America confirmation screen after offer acceptance

*Update 4 April (in response to comment): Although I didn’t test it, it looked as though the single click activated the offer only. I still had to phone BofA using the usual process to activate the card. It would have been nice to have been able to do both through the Activate button. 

Ping Identity Educates Consultants to Better Serve End Users

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Today, cloud security company Ping Identity launched its Certified Service Partner program that educates consultants about Ping Identity’s services so that they may better serve their clients.

The Denver-based company certified 35 consultants from 11 service partners, including:

    • Amerindia
    • Bluewolf
    • Commoveo
    • CSC
    • CTI
    • GuidePoint Security
    • Insyndia
    • KPMG
    • Seros
    • Solstice
    • OnWire Consulting

Consultants from these service partners were required to undergo education about Ping Identity’s product offerings and are now able to provide guidance to their clients seeking advice or technical support.

To learn more about Ping Identity, watch its FinovateEurope 2012 demo.

Utiba Takes On ValidSoft’s Security Solution

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Today, fraud prevention company ValidSoft announced a partnership with Utiba, a mobile payments company that  supports 500 million subscribers and processes over 12 billion transactions per year.

Singapore-based Utiba selected ValidSoft’s Secure Mobile Architecture for Real-time Transactions (SMART) security program to secure its mobile financial services:

“Utiba’s more than 40 Mobile Network Operators (MNOs) and banking customers worldwide will be able to offer advanced, user-friendly authentication options using ValidSoft’s proprietary technology.”

Those 40 MNOs and banking customers equate to 500 million end-users that have access to Utiba’s platform and will benefit from the Secure Mobile Architecture.

To learn more about ValidSoft, watch its FinovateEurope 2012 demo.

SaveUp Launches Pilot Program at 20 Credit Unions

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San Francisco-based SaveUp announced today that it will launch a pilot of its rewards platform, a program that incents users to save more by enticing them with prizes and a jackpot, at 20 credit unions in 15 states to gauge how effectively the prizes and rewards motivate users to save.

The 20 credit unions, with 1.2 million combined accounts, will provide their members a tailored version of SaveUp for free to increase deposits and enhance customer relationships.

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The Filene Research Institute has been contracted to monitor usage and feedback, and compile results.

To learn more about SaveUp, come to FinovateSpring 2012 next month and see its live demo.

Finovate Alumni News– April 3, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgProfitStars partners with ACH Alert to introduce new solutions to mitigate losses from ACH and wire fraud.
  • Striata partners with Tricubes, an ID authentication specialist, to provide Malaysian clients with secure document delivery.
  • Forbes discusses Dwolla’s location-based payments service.
  • Thomson Reuters named one of Ethisphere’s 2012 “World’s Most Ethical Companies” for fourth successive year.
  • HelloWallet announces V2 of its iPhone app with account setup, budget creation, & manual transactions.
  • SaveUp launches pilot program at 20 credit unions.
  • Utiba takes on ValidSoft’s security solution.
  • Ping Identity educates consultants to better serve end users.
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.

Braintree’s Payment Gateway Available for Magneto Users

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Payments solutions company, Braintree, recently launched a plugin that allows its payment gateway to be used by the 110,000 users of Magneto eCommerce Solutions.

Since customer credit card information is stored in the Braintree Vault, Magneto users benefit from a reduced PCI compliance burden and helps merchants drive sales. Bill Ready, Braintree CEO states:

“By keeping all credit card data secure in our Vault, we make PCI compliance much simpler and easier for merchants to achieve. The Braintree Vault also allows merchants to implement a card-on-file feature which helps merchants increase their conversion rate at checkout.”

Braintree processes over $4 billion in credit card transactions annually.

To learn more about Braintree watch its FinovateSpring 2011 demo.

Prosper Adds 13 New Loan Categories for Borrowers

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Recently, Prosper added 13 new loan categories:

    • Baby & Adoption Loans
    • Boat
    • Cosmetic Procedures
    • Engagement Ring Financing*
    • Green Loans*
    • Household Expenses*
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    • Medical/Dental*
    • Motorcycle
    • RV
    • Taxes
    • Vacation*
    • Wedding Loans*

Nickel Steamroller blog reports some of these categories overlap with existing Lending Club categories. These commonalities are marked with an asterisk.

To learn more about Prosper, watch its FinovateStartup 2009 demo.

Finovate Alumni News– April 2, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFiserv wins Celent’s XCelent Award for enterprise-wide compliance solutions.
  • USA Today Money columnist recommends TradeKing & Zecco as platforms for investing in stock.
  • Productive Web Apps features CoverHound.
  • The Seattle Times discusses the benefits of BillGuard.
  • Braintree’s payment gateway available for Magneto users.
  • Prosper adds 13 new loan categories for borrowers.
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.

Xero Partners with Abukai, Helps MYOB Users Migrate Accounting Software

Thumbnail image for XeroLogo.jpgCloud accounting platform, Xero, disclosed two announcements this past week.

First, it announced that its teaming up with Abukai. The partnership will enable Abukai users to leverage Xero’s platform to report expenses.

On its blog, Xero describes how it works:

“Take a photo of your receipts and when ready, the expense data is automatically imported into Xero as an expense claim. A copy of the photo is attached to each receipt.”

Second, Xero announced that its partner, LiveMigrate, launched a standalone service to help MYOB customers migrate their accounting software from MYOB to Xero.

Cloud computing analyst, Ben Kepes, explains that LiveMigrate is about “showing people that there’s an easy way to get out of the hell which is MYOB”. Depending on the level of functionality consumers need, LiveMigrate will cost users anywhere from NZ$249 to NZ$749.
To learn more about Xero, watch its FinovateSpring 2011 demo.

Currensee Expands Into Latin American Region with Spanish Website

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Alternative investment platform, Currensee, announced yesterday that it will expand into the Latin American region and U.S.-based Latino market by launching its platform in Spanish.

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Dave Lemont, Currensee CEO, also mentioned a pending launch of the website in Portuguese to fill increasing demand for the alternative investment platform.

The release revealed a few facts:

    • Over 1,000 investor accounts opened
    • Over $30 million in assets reported since its start
    • $20 billion is traded via Trade Leaders Program

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

Finovate Alumni News– March 30, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMSN Money UK explains how Zopa represents the future of banking.
  • MintLife blog reviews FutureAdvisor. Come see their live demo at FinovateSpring.
  • Silicon Prairie News covers a SXSW panel discussion where Dwolla discussed growth. See its new tech at FinovateSpring.
  • Forbes interviews PaySimple CEO, Eric Remer, on how he began the startup. Come see PaySimple at FinovateSpring in San Fran.
  • MSN Business on Main interviews Dwolla’s Ben Milne, asks if it’s the next PayPal.
  • Currensee expands into Latin American region with Spanish website.
  • Xero partners with Abukai, helps MYOB users migrate accounting software.
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.

FinovateSpring 2012 Headed For Record Attendance — Get Your Early-Bird Ticket by March 31st to Save!

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FinovateSpring is less than 6 weeks away and ticket sales are on pace to make the conference our largest West Coast event ever — significantly bigger than last spring’s record audience of 850!

And as you can see from the small sample of the organizations already registered listed below, not only does the size of Finovate audiences continue to grow but so does the quality:

  • ADP
  • Aite Group
  • Alliant Credit Union
  • BancVue
  • Bank of America
  • Bank of the West
  • Bank Technology News
  • Battery Ventures
  • BBVA
  • BCU
  • BECU
  • Benchmark Capital
  • BNY Mellon
  • BT
  • Capital One
  • CashEdge/Fiserv
  • Celent
  • Charles Schwab & Co.
  • CIBC
  • Citi Ventures
  • Citibank
  • City National Bank
  • CNNMoney
  • comScore
  • DailyWorth
  • Discover Network
  • E*Trade
  • Ericsson
  • EverBank
  • Experian
  • Fidelity
  • Fifth Third Bank
  • First Republic Bank
  • FIS
  • Flybridge Capital Partners
  • Google
  • H&R Block
  • Harland
  • Hitachi America
  • Intuit
  • Javelin Research
  • JP Morgan Chase
  • LightSpeed Partners
  • MasterCard
  • Mint.com
  • Norwest Venture Partners
  • PayPal
  • PC World
  • RushCard
  • Scottrade
  • Seeking Alpha
  • Shasta Ventures
  • SunTrust
  • Target Corporation
  • TD Ameritrade
  • The Hartford
  • The Motley Fool
  • TransUnion
  • TTV Capital
  • U.S. Bank
  • Umpqua Bank
  • USAA
  • Visa
  • Wells Fargo
  • Wired Magazine
  • Xoom.com
  • Yodlee

If you would like to join executives from these organizations (and many others!) and watch dozens of cutting-edge fintech companies demo their latest innovations on May 8th & 9th in San Francisco, early-bird tickets are still available through March 31st. If you have any questions about the event, please don’t hesitate to reach out to us at info@finovate.com. We hope to see you in May!

FinovateSpring 2012 is sponsored by: Backbase, The Bancorp Inc., the law firm of Chambliss Bahner & Stophel, Intuit, & TxVia

FinovateSpring 2012 is partners with: BankInnovation, BankerStuff, BayPay Forum, California Bankers Association, Celent, Filene, Finance on Windows & PYMNTS.com