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Grab your ticket to FinovateFall 2012 by Friday 6/22 to save $200!

By Eric Mattson Posted on June 21, 2012
Categories: FinovateFall 2012

I love the weeks around the summer solstice. The long days that seem to go on forever. Farmers’ markets in full glory. Occasionally seeing the sun (hey, we live in Seattle). And sorting through a massive stack of applications about cool new fintech innovations for FinovateFall.

Each year the quality and number of applications grows, making our job harder and the show better. This year, as we return to NYC for the 6th time, we’re incredibly excited about the innovations we’re seeing. You don’t want to miss what these companies have to show!

In addition, this September’s FinovateFall in New York City promises to be an unrivaled gathering of the leading entrepreneurs, executives, analysts and investors in the financial technology space. Tickets are selling fast so please lock in your spot soon. If you grab your ticket by this Friday June 22nd, you’ll save $200 via the very early-bird ticket price.

We hope to see you this fall! And until then, enjoy the summer days!

FinovateFall 2012 is sponsored by: The Bancorp Inc., the law firm of Hudson Cook & Tier One Partners

FinovateFall 2012 is partners with: American Bankers Association, BankInnovation, BankerStuff, Benzinga, California Bankers Association, Celent, Filene, Finance on Windows & PYMNTS.com

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Grab your ticket to FinovateFall 2012 by Friday 6/22 to save $200!

By Eric Mattson Posted on June 21, 2012
Categories: FinovateFall 2012

We hope to see you this fall! And until then, enjoy the summer days!

FinovateFall 2012 is sponsored by: The Bancorp Inc., the law firm of Hudson Cook & Tier One Partners

FinovateFall 2012 is partners with: American Bankers Association, BankInnovation, BankerStuff, Benzinga, California Bankers Association, Celent, Filene, Finance on Windows & PYMNTS.com

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Finovate Alumni News– June 20, 2012

By Julie Muhn (@julieschicktanz) Posted on June 20, 2012
Categories: Buxfer, Check Point, DCisions, Flint Mobile, Geezeo, IND Group, Kashoo, Mint.com, PayPal, Pennyminder, SmartyPig, Social Money, TIO Networks, Yodlee, Youneedabudget.com

2 Minute Finance interviews TIO Networks at FinovateSpring.

2 Minute Finance interviews Flint Mobile at FinovateSpring.

Check Point provides FXCM with integrated network protection.

IND Group’s technology initiates the world’s first Facebook money transfer.

Kashoo named most promising startup at 2012 BCTIA Technology Impact Awards.

DCisions awarded an Australian patent for business method.

SmartyPig, Social Money’s goal-based savings product, increases its interest rate to 1% APY.

TechCrunch reports PayPal rolls out a touch-friendly website redesign.

US News lists Buxfer, YouNeedABudget, Pennyminder, Yodlee, Geezeo, Mint as personal finance tools you should use.

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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The End of Non-Automated-Teller Deposits

By Jim Bruene Posted on June 19, 2012
Categories: ATMs, Chase Bank

This month marked a turning point in my relationship with our business bank. Except for the odd check in a foreign currency, we’ve stopped using the teller to deposit checks.

We could use mobile remote capture, but since we walk or drive by a branch most days, it’s easier (and probably faster) to just stop by and make the deposit. But we no longer go inside to the teller line. All the Chase branches in our neighborhood have image-capture ATMs, they are rarely busy and are open 24/7.

We can feed in our usual stack of 6 or 7 checks in a minute or two, saving 4 or 5 minutes from doing it with a teller. And we walk away with a picture of the checks deposited, something you don’t get from the teller or your mobile phone. True, printed copies are redundant with the online images, but the paper records are reassuring for us and our bookkeeper.

Bottom line: I know that ATMs are enormously expensive to purchase, maintain and stock with fresh $20s. But it looks like their image-capture capability, combined with mobile remote deposit and check-image storage in online banking, has finally created a package that substantially reduces the need for the tellers they were named after.

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Nutmeg Receives $5.3 Million in Funding from Pentech, Tim Draper, and Others

By Julie Muhn (@julieschicktanz) Posted on June 19, 2012
Categories: Nutmeg

Online investment management tool, Nutmeg, announced today that it has received $5.3 million (£3.4 million).

Investors include:

Pentech
Daniel Aegerter (Swiss chairman of Armada Investment Group)
Tim Draper (an early investor in Skype in Europe and other notable startups)
Klaus Hommels (on Spotify’s board)

The startup will use the funds to help prepare for its UK launch later this summer.

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

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Finovate Alumni News– June 19, 2012

By Julie Muhn (@julieschicktanz) Posted on June 19, 2012
Categories: Andera, FutureAdvisor, Kony Solutions, Tradeshift, Tyfone, wipro, Zopa

This is Money Blog compares Zopa with RateSetter and Funding Circle.

Geosho brings location-based visualization to Tradeshift.

TechCrunch lists reasons why its okay to trust FutureAdvisor to manage your money.

Credit Union Journal reports Star One CU Launches Tyfone’s Mobile Banking.

American Banker reports Andera’s oFlows supports paperless account opening.

Kony and Wipro form partnership to speed up mobile app development.

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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Kony and Wipro Form Partnership to Speed up Mobile App Development

By Julie Muhn (@julieschicktanz) Posted on June 18, 2012
Categories: Kony Solutions, wipro

Last week mobile application management company, Kony Solutions, partnered with Wipro Technologies, a global technologies and outsourcing company. The partnership will enable Wipro to help developers in the U.S., U.K., Australia, and the Middle East build applications faster.

The joint solution will focus on mobile solutions for:

Financial services
Healthcare and life sciences
Automotive
Retail
Utilities
Transportation

The two expect application development and rollout will accelerate by 40 to 70%.

To learn more about Kony Solutions or Wipro, watch Kony’s FinovateFall 2011 demo and Wipro’s FinovateEurope 2012 demo.

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Finovate Alumni News– June 18, 2012

By Julie Muhn (@julieschicktanz) Posted on June 18, 2012
Categories: Doxo, Dwolla, Fidor Bank, Geezeo, SigFig, Simple

Simple sends out a wave of new beta invites, including one to Square’s co-founder.

The Financial Services Club explores how Fidor Bank is innovating in the traditional banking space.

Wall Street Journal looks at Doxo’s role in the bill payment space.

Barrons examines how SigFig’s portfolio managers work.

American Banker reports BankSimple Aims to Simplify Opening Online Accounts using Andera’s SDK.

The Wall Street Journal examines innovation in fintech.

Dwolla’s FiSync goes live.

Geezeo signs Missouri Credit Union.

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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Out of the Inbox: Mint.com Pitches Capital One Credit Card in Triggered Email Alert

By Jim Bruene Posted on June 14, 2012
Categories: Alerts & Messaging, Capital One, Credit/Debit Cards, Email Samples, Mint, Personal Financial Management

Precise, content-sensitive advertising is extremely powerful. It’s what made Google a giant.

In financial services, the biggest advertising-driven success (after BankRate and Google), at least in terms of market cap, is Mint.com. Its revenue stream is entirely made up of targeted offers to customers who aggregate banking transactions on its site.

The company wisely uses email to deliver some of the advertising pitches. As we’ve discussed before, Mint is of the few financial companies directly monetizing triggered alerts.

We were impressed by the latest effort received Tuesday (see below). Having noticed that our Chase business card was used internationally, incurring a $14 transaction surcharge, they wisely pitched us a Capital One no-foreign-transaction-fee card.

Interestingly, we already have not one, but two of those Cap One cards (personal and biz) and they are both aggregated at Mint. So I’m not sure if this alert is more of a reminder to use our Cap One charge when traversing the world or that Mint doesn’t check current product usage when cross selling (or they don’t care). If Mint is only paid on performance (eg. by new accounts generated), then it doesn’t matter to Cap One that they are marketing to an existing customer.

Bottom line: The example demonstrates the marketing value of hosting the aggregated accounts.

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Mint triggered alert (12 June 2012)
Note: The advertisement is two-fold. The banner with "apply now" is the most eye-catching, but also easier to ignore. There is also a text call to action above it, that looks more like alert copy. It says: "Stop paying extra to use your credit card overseas. Get a card that doesn’t charge foreign transaction fees."

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Finovate Alumni News– June 14, 2012

By Julie Muhn (@julieschicktanz) Posted on June 14, 2012
Categories: Backbase, BillGuard, Boku, CSI globalVCard, Firethorn, FutureAdvisor, ThreatMetrix

Albany Times Union reports CSI’s globalVCard leads execs out of ID theft and into mobile payments.

$3.7 bil Patelco CU commits to ThreatMetrix’s malware defense software.

Backbase powering online banking platform for Absa Group, a subsidiary of Barclays.

American Banker reports Firethorn Mobile to power Burger King’s mobile app.

GlobalCollect offers BOKU as Mobile Payment Checkout to its Merchant Network.

Financial Services and Big-Data Executive Mary Anne Keegan joins BillGuard as CMO.

The WSJ reviews FutureAdvisor.

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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Finovate Alumni News– June 13, 2012

By Julie Muhn (@julieschicktanz) Posted on June 13, 2012
Categories: Cardlytics, Kashoo, peerTransfer, ReadyForZero, SecondMarket, Taulia, Virtual Piggy

Kashoo signs accountant.org to its MVP program.

The WSJ looks at SecondMarket’s life after the Facebook IPO.

2 Minute Finance gets a personalized demo from Cardlytics.

Virtual Piggy moves headquarters to Hermosa Beach.

ReadyForZero announces product updates.

Taulia and Cloud Trade join forces to ease invoice process for buyers and suppliers.

peerTransfer partners with Educational Computer Systems (ECSI) to broaden its reach.

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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peerTransfer Partners with Educational Computer Systems (ECSI) to Broaden its Reach

By Julie Muhn (@julieschicktanz) Posted on June 12, 2012
Categories: peerTransfer

Last week tuition payment solutions platform, peerTransfer, announced that it partnered with Educational Computer Systems (ECSI), a service provider for the higher education industry.

The partnership will enable international students attending ECSI partner schools to process their tuition and other school-related payments using the peerTransfer platform. It will also integrate international payment options for students using ESCI’s tuition payment platform.

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

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