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FinovateSpring 2012 Demo Companies Announced!

By finovate Posted on March 22, 2012
Categories: FinovateSpring 2012

FinovateSpring is just around the corner. And with a mere seven weeks until dozens of new fintech innovations take the stage in San Francisco, it is time to announce the handpicked companies that we’ve selected to demo their latest and greatest. It was a tremendously competitive application process and we’re very excited to showcase these new ideas.

Without further ado, here are the companies that will demo their newest innovations at FinovateSpring this year:

Access Development
Affinity Solutions
Alltuition
Applause Learning
BancBox
Bazaarvoice
BehavioSec
Bill.com
BillGuard
Blaze Mobile
Cachet FS
Cardlytics
Clover Network
CoverHound
CSI globalVCard
Dwolla
eDeposit
Expensify
FutureAdvisor

Giftly
inStream Solutions
IP Commerce
iQuanitifi
Kabbage
Keynote DeviceAnywhere
Klarna
Kuspit
Linkable Networks
Mitek Systems
MoneyDesktop
mSHIFT
NomisSolutions
On Deck Capital
PaySimple
Personal Capital
Pindrop Security
Profitstars

SaveUp
Serverside Group
ShopSavvy
Silver Tail Systems
Social Money
SoMoLend
Swipely
TASCET
Taulia
Thomson Reuters
TIO Networks
Transparency Labs
TrustEgg
Virtual Piggy
Wall Street Survivor
WattzOn
Wipit
ZipZap

We will also be announcing a few stealth companies closer to the conference.

If you’d like to watch these companies demo the cutting edge of fintech at the early-bird rate of $100 off, please get your ticket before 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: 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

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Finextra Looks at Mint, HelloWallet, and Lodo to Consider Benefits of Implementing a PFM

By Julie Muhn (@julieschicktanz) Posted on March 21, 2012
Categories: HelloWallet, Lodo Software, Mint.com

Yesterday, Finextra published an article highlighting the benefits of implementing a PFM. It publishes some interesting stats on key PFM platforms:

90% of Mint’s almost 8 million users say the PFM haschangedtheirfinancial habits
Users are willing to pay $9 for HelloWallet*
Lodo boasts member retention rates of98% among PFM users
According to Lodo, PFM users have more bank accounts than non-users

To learn more about Mint, HelloWallet, and Lodo, watch Mint’s FinovateSpring 2011 demo, HelloWallet’s FinovateSpring 2011 demo, and Lodo’s FinovateEurope 2011 demo

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*Does not include employees who are given the PFM services as an employee benefit from their company.

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Finovate Alumni News– March 21, 2012

By Julie Muhn (@julieschicktanz) Posted on March 21, 2012
Categories: CashStar, ClairMail, Dynamics, eToro, HelloWallet, Lodo Software, Mint.com, Offermatic, Service2Media, SigFig, Wonga

CashStar brings eGifting platform to the UK.

Service2Media signs AppCenter Partner agreement with HintTech.

Clairmail appoints former Apple executive, Mitch Stein as new Director of Innovation and Design.

Lazy Man and Money blog covers SigFig, calling it the best way to track your investments.

Wonga launches Easter Egg hunt on Facebook.

eToro’s OpenBook wins 2011 Superior Trading and Resource (STAR) Award.

WSJ’s MarketWatch suggests using HelloWallet to help employees build wealth.

Relevantly Speaking highlights Offermatic in a podcast.

NY Times Bucks blog describes the experience of using Citi’s rewards card powered by Dynamics.

Finextra looks at Mint, HelloWallet, and Lodo to consider benefits of implementing a PFM.

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.

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Westpac NZ Makes it Mobile Savings Transfers Easy with Impulse Saver

By Jim Bruene Posted on March 20, 2012
Categories: Best of the Web, Deposits, Checking, Savings, CDs, Mobile Banking

There are two schools of thought when it comes to mobile app design:

Put everything in a single app for each platform (note 1), so your customers aren’t confused about which app to download
Create specialized apps for various market segments and/or apps that focus on a single function

American Express (7 for iOS, note 2); JP Morgan Chase (3 for iOS); Zions Bank (3 for iOS); Southern Bancorp (2 for iOS); and a handful of other banks have launched multiple apps. But it’s still the exception: More than 99% of banks have no more than one app for each platform.

Westpac NZ has joined the multi-app group, though oddly it has yet to launch a full-featured mobile banking app (note 3). Yesterday, we wrote about Westpac’s clever Cash Tank, that provides a no-login gauge to monitor account balances.

The bank has another cool single-use app, Impulse Saver, which is basically just one huge red button that users press to make a transfer from their checking account to a savings account.

obr_bestofweb The amount of each transfer, from $2 to $50, is preset using the app settings (see second screenshot).

Bottom line: With Impulse Saver and Cash Tank, Westpac NZ has raised the bar for simple no-login mobile banking, earning an OBR Best of the Web (note 4).
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Westpac’s Impulse Saver iPhone app (20 March 2012)

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Notes:
1. By single app, we mean one app per major platform, i.e., one app for iPhones, one for Android, one for iPad, etc.
2. In addition, American Express offers at least six more content apps through American Express publishing.
3. A number of reviewers in Apple’s App Store have been criticized for not having a full-featured app. For example, in June 2011 “crazfulla” wrote, “This is a great idea; however, we need a real app that has all the banking capabilities.”
4. Since 1997, our Online Banking Report has periodically given OBR Best of the Web awards to companies that pioneer new online or mobile banking features. It is not an endorsement of the company or product, just recognition for what we believe is an important industry development. If anyone knows of other financial institutions offering a similar feature, let us know and we’ll update the post. Westpac is is the 86th company to win the award and the third in 2012. Recent winners are profiled in the Netbanker archives.

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CashStar Brings eGifting Platform to the United Kingdom

By Julie Muhn (@julieschicktanz) Posted on March 20, 2012
Categories: CashStar

Since its launch, digital gifting company CashStar has helped over 250 North American brands take their gift card programs online. Now its bringing the customizable eGifting program to the United Kingdom.

The company has recruited Arun Glendinning to oversee the expansion as Director of Business Development in the U.K.

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

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Ping Identity Launches PingOne for Single Sign On Access to Cloud Based Applications

By Julie Muhn (@julieschicktanz) Posted on March 20, 2012
Categories: Ping Identity

Today, cloud security company Ping Identity launched PingOne, its new enterprise security service.

The new service is multiplexed, which means it allows an IT department to centrally control user access to cloud-based applications such as Salesforce or Webex. It also allows users to securely login to multiple cloud-based applications with only one username and password.

The service is available for $5,000 per application per year or $5 per user per month.

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

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Finovate Alumni News– March 20, 2012

By Julie Muhn (@julieschicktanz) Posted on March 20, 2012
Categories: DCisions, Expensify, Fiserv, Kony Solutions, LearnVest, Mint.com, Mortgagebot, Personal Capital, Ping Identity, ReadyForZero, SecondMarket, Xero

Betakit features Holvi.

Mobile payments today reports MoneyGram and Fiserv hook up on mobile P2P payments.

Kony Solutions announces support for iOS 5.1.

The Republic identifies Mint and Expensify as two apps to help streamline finances.

Boot Camp interviews ReadyForZero on its platform.

SecondMarket launches ‘The Facebook Fund’ to buy shares before IPO.

CU Times looks at Superior FCU’s success from using Mortgagebot.

Forbes lists Alexa Von Tobel, CEO of LearnVest as a female founder to watch at SXSW 2012.

Xero moves to new headquarters.

City A.M. highlights InvestorBee by DCisions.

All Things D looks at how Personal Capital fits into the trend of online wealth management.

Ping Identity launches PingOne for single sign on access to cloud-based applications.

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.

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Cash Tank from Westpac NZ, a Mobile No-Login Balance Display

By Jim Bruene Posted on March 19, 2012
Categories: Best of the Web, Mobile Banking

As mobile banking approaches its fourth birthday (note 1), we are starting to see the more interesting “version 2.0” builds from the major players. Last week, we looked at Commonwealth Bank’s Simple Balance, with its pull-down balance option.

Customers don’t want to spend more than a few seconds retrieving their balance when on the go, so the no-login option significantly improves the mobile banking user experience.

In response to that post, several readers pointed out the recently launched app from Westpac New Zealand unit. The app, Cash Tank, is an elegant solution to the same need. It’s a full standalone app that does just one thing, shows the balance in the selected account on a “fuel gauge” (see first screenshot below).

Users set their own high and low settings so the gauge could show empty when there is still a cash cushion remaining. And users have the option of showing the actual dollar amount available or simply relying on the gauge reading for more privacy. The Cash Tank can show the balance from just one account.

Under the gauge is a link to the bank’s mobile website where users must log in to conduct transaction. The bank does not currently offer a full-featured mobile app in New Zealand (note 2).

The app is available for iPhone and Android.

Update Mar 20: We are awarding Westpac an OBR Best of the Web for its Cash Tank and Impulse Saver apps (Mar 21 post).

Update Mar 21: I neglected to mention that Southern Bancorp launched a no-login savings balance app a year ago called “Shake to Bank.”

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Cash Tank from Westpac NZ is a standalone mobile gauge to your account balance (link)

Cash Tank is featured on the Westpac NZ homepage (21 Mar 2012)

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Notes:
1. The dawn of the industry, at least in the United States, was in July 2008 when Apple opened the iPhone to third-party apps. There were huge strides made around the globe, e.g. M-Pesa, much earlier. But we’re referring here to the modern smartphone-based services.
2. A full-featured mobile banking app has been available to Westpac Australia customers since Dec 2008. But it does not offer the read-only Cash Tank option.

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Plastyc Launches More Robust Mobile App to Empower Users Who Own a Smartphone

By Julie Muhn (@julieschicktanz) Posted on March 19, 2012
Categories: Plastyc

With the rise in smartphone ownership and low PC-usage rates of the underbanked, Plastyc built up a robust mobile app to help users manage their iBankUP and UPside accounts.

The iPhone and Android apps were rolled out March 13 to the 75% of Plastyc’s users who own smartphones.

Some of the new capabilities include:

Manage Rainy Day Reserve
Receive deal notifications
Mail paper checks to people in your phone’s address list
Deposit physical checks by taking a picture with your smartphone (coming end of 2012)

Here are some screenshots of the Android app, taken from Plastyc’s website on March 19, 2012:

To learn more about Plastyc, watch its FinovateFall2011 demo.

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SecureKey Technologies and INSIDE Secure Bring POS Convenience Online

By Julie Muhn (@julieschicktanz) Posted on March 19, 2012
Categories: INSIDE Secure, SecureKey

SecureKey Technologies announced today that it has teamed up with France-based INSIDE Secure to make it easier for consumers with contactless cards to make online purchases:

“The new solution integrates the patent-pending SecureKey technology into the INSIDE SecuRead NFC solution, available in a SecuRead version upgrade. With SecuRead and the SecureKey technology integrated into a smartphone or tablet, these devices can support strong, two-factor authentication using a contactless credential on a smartphone or contactless card.”

Device OEMs will be able to integrate the technology with the SecuRead solution.

The solution allows consumers to use tap-to-pay technology when making online purchases, without requiring the merchant to change their website.

To learn more about SecureKey, watch its FinovateEurope 2011 demo.

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Finovate Alumni News– March 19, 2012

By Julie Muhn (@julieschicktanz) Posted on March 19, 2012
Categories: BillGuard, Boku, Dwolla, Expensify, Plastyc, SecondMarket, SecureKey, Zopa

The Independent recommends using Zopa to boost your pension.

Creditnet examines how BillGuard can fight unwanted credit card charges.

TechCocktail interviews Ben Milne, Dwolla CEO, at SXSW 2012.

All Things D looks at SecondMarket CEO’s answer to why it wasn’t part of the SEC’s secondary market ruling.

Forbes looks at MasterCard’s partnership with BOKU.

Channel Partners turns to Expensify to lower expense-reporting costs.

SecureKey Technologies and INSIDE Secure bring POS convenience to online merchants.

Plastyc launches more robust mobile app to empower users who own a smartphone.

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.

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Strands Featured in Bank Technology News for PFM Strategy

By Julie Muhn (@julieschicktanz) Posted on March 16, 2012
Categories: Strands

Earlier this week, Bank Technology News featured an article on Strands, a PFM solution provider looking to stand out in a very crowded market by tailoring consumers’ PFM experience.

Here are some quick snippets of information from the article:

Aim of the PFM: create a single location to give clients a holistic picture of their assets and liabilities
Target market of the PFM: consumers, bank staff, advisors
Clients include: overseas financial institutions such as Bank of Montreal, Banco Bilbao Vizcaya Argentaria S.A. and ING Group NV
Competitors: Mint.com, Geezeo, Wesabe, Yodlee, and more

The article notes that the competitors have started adopting different strategies to compete. One of those strategies, it notes, is to provide demographic-specific content. LearnVest, a PFM for women, is a great example of this.

To learn more about Strands, watch its FinovateEurope 2011.

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