Credit Karma Launches Free Credit Monitoring Service

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

Thumbnail image for creditkarmalogo.jpg

Today, Credit Karma launched a free credit monitoring service for all U.S. consumers. The service will monitor a consumer’s credit file on a daily basis and notify them of significant changes.

Here’s how it works:

    • The consumer visits CreditKarma.com and begins the free, two-minute registration process.
    • Every day, Credit Karma monitors the consumer’s credit report.
    • After a new credit inquiry, missed payment, or improved payment status hits the consumer’s credit file, Credit Karma alerts the consumer via email.

Credit Karma is the first company to provide this service for free and existing Credit Karma members need only to opt-in to take advantage of the service.

To learn more about Credit Karma, watch its FinovateStartup09 demo.

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Finovate Alumni News– January 3, 2012

By Julie Muhn (@julieschicktanz) Posted on
Categories: Andera, Credit Karma, Dwolla, eToro, Jemstep, Lending Club, Ping Identity, Receivables Exchange, RobotDough, TSYS, Zopa
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgRobotDough leaves GoDaddy due to SOPA support conflict.
  • Philly.com describes the Jemstep signup process.
  • Providence Business News reports Andera moves to a new office building.
  • eToro blog launches new column dedicated to analyzing the weekly activity on eToro OpenBook.
  • Forbes looks at Dwolla’s payment revolution.
  • Ping Identity announces PingFederate is now available as an Amazon Machine Image on the Amazon Elastic Compute Cloud.
  • Credit Karma launches free credit monitoring service.
  • The Receivables Exchange announces strategic alliance with Insperity Investment.
  • Lending Club removes service fee on large loans.
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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FinovateEurope 2012 Early-Bird Deadline Extended to January 6th — Register now to save!

By finovate Posted on
Categories: FinovateEurope 2012

europe-blog.gif

With 2011 put to rest, the Finovate team has returned to the office excited to make FinovateEurope 2012 in February our biggest and best European event ever.

Over the holidays we received a number of inquiries about whether it was still possible to get an early-bird ticket to the event. Given that, we’ve decided to extend our early-bird ticket deadline until this Friday (January 6th) so that you can lock in your spot at the early-bird rate.

Tickets for the event have been selling strongly and we expect a record crowd on February 7th in London. Here is a small sample of the organizations that have already registered to attend:

  • ABN Amro
  • American Express
  • Balderton Capital
  • Bank Julius Baer
  • Barclaycard
  • Barclays Bank
  • Best Buy
  • BN Bank
  • BNP Paribas
  • Capital One
  • Celent
  • DAB Bank
  • EFMA
  • Fiserv
  • Gartner
  • Greylock
  • Handelsbanken
  • IBM
  • ING Bank
  • Intuit
  • Jack Henry
  • La Poste 
  • Microsoft
  • MorningStar
  • PostFinance
  • Rabobank
  • Silicon Valley Bank
  • Skandiabanken
  • SpareBank
  • Standard Chartered
  • Volksbank
  • Yahoo! Finance
  • Yodlee

If you want to guarantee your chance to watch the future of European finance and banking technology debut in London in February, please register soon. As I mentioned above, tickets for the event are selling quickly — well ahead of last year’s pace when we sold out weeks ahead of the conference. In addition, with the extended deadline, if you register by Friday January 6th then you’ll get the affordable early-bird price on your ticket.

FinovateEurope 2012 is sponsored by: Bluerock Consulting & The Bancorp Bank

FinovateEurope 2012 is partners with: BankerStuff, BankInnovation, Celent, Deutsch Startups, Finance on Windows, The Financial Services Club, The Financial Services Innovation Centre, and PYMNTS.com.

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CBS Early Show Features Weemba, Lighter Capital, and Rebirth Financial

By Julie Muhn (@julieschicktanz) Posted on
Categories: Lighter Capital, Rebirth Financial, Weemba

Last week, The Early Show on CBS featured three Finovate alumni (see video below). The newscast describes how Weemba, Lighter Capital, and Rebirth Financial are all working to find funding for small businesses.  

All three startups use different approaches to provide small businesses with funding when banks fail to come through:

Thumbnail image for weembaLogo2.jpg

Weemba

Approach: Serves as a matchmaker for borrowers and lenders
Average loan amount: $27,500
FinovateFall 2011 demo

lighterCapitalLogo.jpg

Lighter Capital
Approach: Lends money based on business earnings
Average loan amount: $150,000

FinovateFall 2011 demo

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Rebirth Financial
Approach: Matches borrowers with lenders based on a desired loan amount and interest rate 
Average loan amount: $80,000

FinovateFall 2011 demo

Source: CBS News http://bit.ly/t2inQG

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Finovate Alumni News– January 2, 2012

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, Boku, BrightScope, CashStar, LearnVest, Lighter Capital, Rebirth Financial, SecondMarket, Weemba
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMaine Public Broadcasting Network profiles CashStar.
  • Bank Technology News describes how Bill.com uses capital infusion to build a cash flow dashboard for businesses.
  • SecondMarket’s homepage gets a makeover.
  • The CBS Early Show features Weemba, Lighter Capital, and Rebirth Financial.
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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FinovateEurope 2012 Early-Bird Deadline Extended to Friday January 6th — Register now to save!

By finovate Posted on
Categories: FinovateEurope 2012

europe-blog.gif

With 2011 put to rest, the Finovate team has returned to the office excited to make FinovateEurope 2012 in February our biggest and best European event ever.

Over the holidays we received a number of inquiries about whether it was still possible to get an early-bird ticket to the event. Given that, we’ve decided to extend our early-bird ticket deadline until this Friday (January 6th) so that you can lock in your spot at the early-bird rate.

Tickets for the event have been selling strongly and we expect a record crowd on February 7th in London. Here is a small sample of the organizations that have already registered to attend:

  • ABN Amro
  • American Express
  • Balderton Capital
  • Bank Julius Baer
  • Barclaycard
  • Barclays Bank
  • Best Buy
  • BN Bank
  • BNP Paribas
  • Capital One
  • Celent
  • DAB Bank
  • EFMA
  • Fiserv
  • Gartner
  • Greylock
  • Handelsbanken
  • IBM
  • ING Bank
  • Intuit
  • Jack Henry
  • La Poste 
  • Microsoft
  • MorningStar
  • PostFinance
  • Rabobank
  • Silicon Valley Bank
  • Skandiabanken
  • SpareBank
  • Standard Chartered
  • Volksbank
  • Yahoo! Finance
  • Yodlee

If you want to guarantee your chance to watch the future of European finance and banking technology debut in London in February, please register soon. As I mentioned above, tickets for the event are selling quickly — well ahead of last year’s pace when we sold out weeks ahead of the conference. In addition, with the extended deadline, if you register by Friday January 6th then you’ll get the affordable early-bird price on your ticket.

FinovateEurope 2012 is sponsored by: Bluerock Consulting & The Bancorp Bank

FinovateEurope 2012 is partners with: BankerStuff, BankInnovation, Celent, Deutsch Startups, Finance on Windows, The Financial Services Club, The Financial Services Innovation Centre, and PYMNTS.com.

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Happy New Year!

By Jim Bruene Posted on
Categories: Advertising Age, Holiday promotions, Website Usability & Design

imageOn the first day of 2012, we found a few financial institutions wishing their customers well, while also informing them of holiday branch closures. Always festive Amplify Credit Union (Austin, TX) had a great look as did First Federal Bank of Florida (see below). 

First Federal also remembered to address New Years Eve hours on Saturday, a more likely question. 

Final note: While you’re at it, also mention holiday hours in your call center and online banking support.

——————————

Amplify Credit Union (1 Jan 2012, link)
Note: Amplify switches out its header graphic and logo treatment on major holidays. Here was their Valentine’s look in 2010.

Amplify CU homepage on New Years Day

First Federal Bank of Florida (1 Jan 2012, link)
Note: First Florida had the best New Years graphics. They not only ran two banners, but also used subtle animation to cause the logo and top banner to twinkle when it was moused over. The bank also addressed Dec 31 hours along with those on the official holiday.

First Federal Bank of Florida homepage on New Years day


U.S. New Mexico Federal Credit Union (1 Jan 2012, link)

US New Mexico FCU homepage on New Years Day

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Holiday Promotions from Credit Unions and Community Banks

By Jim Bruene Posted on
Categories: Advertising & Promotion, BancVue, Holiday promotions

imageLast week we looked at the holiday efforts (or lack thereof) of the 20 largest U.S. banks. But aside from PNC Bank’s “Christmas cost index” and ING Direct’s “12 days of mobile,” not much this holiday season was particularly noteworthy (inset for Midland Bank gift cheques, circa 1956, see credit below).

For inspiration, you need to look at the smaller banks and credit unions. Here are five we found through random googling today: 

1. Michigan State University FCU: 6.9% Holiday Loan (homepage promo #2)

image

2. Seattle Metropolitan Credit Union: Visa Gift Card (homepage promo #2)

image

3. OnPoint Community Credit (Oregon): Mobile gift cards (homepage, promo #1) , Visa Gift Card (promo #2)

 image

image 

4. Community First Credit Union (Florida): iPad giveaway for eStatements (homepage, promo #3; landing page)

image

5. Texas Bank: “Stash the Christmas cash” (homepage, one of four rotating promos; landing page)
Note: “Stash the cash” is similar to BofA’s “keep the change;” debit card purchases are rounded up to nearest dollar with the extra 1-99 cents deposited into savings. The holiday promo included a 5% bonus match on each transfer in December (website powered by Bancvue)

image 

—————-

imageNote: Picture credit. Midland Bank advertisement for holiday checks from The Illustrated London News, 17 Nov 1956. (Click to enlarge, for sale here). 

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2011 Funding for Finovate Alumni– Over $423 Million Raised

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, BillGuard, Bobber Interactive, Braintree, Cardlytics, CashStar, Continuity Control, Credit Sesame, Dynamics, edo Interactive, eToro, eWise, Finsphere, FTRANS, Guardian Analytics, Kabbage, Kony Solutions, Lending Club, Lendio, mFoundry, MiiCard, MOOTWIN, On Deck Capital, peerTransfer, Plastyc, Prosper, SecondMarket, SecureKey, Silver Tail Systems, Simple, Xero

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTo wrap up 2011, we’ve compiled a list of all of the funding Finovate alumni received over the course of the year. 

The results were impressive:
  • A total of 34 companies received funding, some more than once
  • The companies collectively raised over $423 million dollars
  • The months with the highest number of companies receiving funding were June August, both with 8 companies
  • The highest amount of funding came in the month of June, when the alumni brought in over $124.4 million
Here is a month-by-month breakdown of funding received:
January — $40.8 million raised by 3 companies
February — $10.3+ million raised by 3 companies
March — $20.4 million raised by 4 companies
June — $124.4 million raised by 8 companies
July — $1.1 million raised by 1 company
August — $103.4 million raised by 8 companies
September — $33 million raised by 1 company
October– $22 million raised by 2 companies
November — $16.3+ million raised by 3 companies
December — $52.2 million raised by 5 companies
Note: Funding that companies received before they demonstrated at Finovate was not counted. If you see any funding that is not on this list, please send the name of the company along with a link to the funding information to julie@netbanker.com and I will add it.

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IP Commerce’s Solution Used in Billing Service Group’s New Web Checkout Platform

By Julie Muhn (@julieschicktanz) Posted on
Categories: IP Commerce

IPCommerceLogo.jpg

Yesterday, Colorado-based IP Commerce announced an alliance with Billing Services Group, a payment solution company whose OrderBridge payment gateway will use IP Commerce’s Payments as a Platform Service to power a program called Secure Hosted Payments for Web Checkout:

“This valuable solution for quick, branded and secure online payments provides instant access to multiple payment services, payment providers, value-added capabilities, and customizable payment options. Secure Hosted Payments (SHP) for Web Checkout, protects customer credit card information, drastically reducing PCI Compliance scope and expediting future development requirements.”

Billing Services Group chose IP Commerce for the Secure Hosted Payments for Web Checkout because its open platform approach is solid, tested, and scaleable.

To learn more about IP Commerce, watch its FinovateStartup 2008 demo.

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Capital Access Network Helps Banks Give Small Businesses Alternative Funding

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

CapitalAccessNetworkLogo.jpg

Last month, Capital Access Network (CAN) revealed two new services that help banks find alternative funding for small to medium sized businesses who don’t qualify for traditional loans. Its Different Look and Pre-Look programs were developed to fill the gap between the increasing number of loan requests and the bank’s lacking ability to meet those requests with traditional loans.

Here’s how they work:

Different Look

After a small business’ loan application is denied, this reactive approach uses non-traditional underwriting methods that leverage CAN’s Daily Remittance Platform to find alternative funding products.

Pre-Look

Based on a client’s profile information, CAN uses its behavioral modeling, a consideration of 90 different variables, to determine who will need capital over the next 12-18 months. This proactive approach also leverages the Daily Remittance Platform, but allows the bank to offer the applicant alternative funding even before they apply for a loan.

Quick facts:

  • 5 days: The amount of time it takes for new applicants to receive funding. Renewal customers can get funding in the same day they apply.
  • $30,000: The average amount of funding provided.
  • 75%: The percentage of businesses that are willing to renew funding

To learn more about Capital Access Network, watch its FinovateEurope 2011 demo.

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