Square for the Holidays

image It’s not easy packaging banking products as holiday gifts. Prepaid gift cards are an obvious exception, though few banks actively market them online. And ING Direct’s Sharebuilder has for years sold a beginner’s investment package that’s intended to be given to kids or grandkids (see Wells Fargo/Sharebuilder 2002 holiday email below).

This year, Square joins that short list with a gift-wrapped box containing its iPhone/Android dongle, used to swipe credit cards. You can order 1, 2 or 3 packages online at a cost of just $1 each for the gift wrap. The dongles are sent to the buyer who must distribute.

I learned about it in an email right before the Thanksgiving holiday (screenshot below).

Bottom line: While recipients may be a little less impressed once they find out these dongles are free online, overall I love it. It’s really the payments advice doled out when giving the package that can make it special. 

Good idea and great email/landing page design: A

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Email received (22 Nov 2011)

Email from square promoting the "gift of square"

Landing page (link)

image

Wells Fargo/Sharebuilder email from Dec 2002 (post)

Wells Fargo/Sharebuilder email from Dec 2002

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Note: We cover email marketing, financial website usability, payments and much more in our subscription publication, Online Banking Report.

GoalMine To Launch Holiday Gift Card Trade-in Service

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GoalMine, an investment service targeting the mass market, announced its holiday gift card trade-in service that will allow consumers to fund investment accounts using gift cards with leftover balances in excess of $25. 

Here’s how it works:

“After entering gift card numbers and values, customers will be prompted to create a free account, after which they can choose to apply their gift card values to one of GoalMine’s mutual funds or an FDIC-insured savings account. Accounts areGMGiftCard.jpg goal-based, so customers can easily allocate funds toward goals like buying a home, preparing for a new baby, or saving for a rainy day.”

The service will begin December 19 and last for a limited time after the holidays.

To learn more about GoalMine, watch its FinovateSpring 2010 demo.

Two Credit Unions Deploy Credit Karma’s Tools On Their Online Banking Platforms

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NorthCountry FCU and A+ FCU members now have free access to Credit Karma’s credit management tools on their online banking website:

“Through a member-centric approach, Credit Karma’s service provides a monthly credit score and a suite of personalized credit management tools. The tools enable members to access their credit scores, easily digest information on credit scoring, empower informed financial decisions, and put their credit to work to get the best products for their credit profile.”

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Credit Karma provides the same white-label service to over a dozen credit unions and also makes the tools available to the public at creditkarma.com. 

To learn more about Credit Karma, watch its FinovateStartup 2009 demo.

Weemba Adds 3 Financial Institutions To Its Network of Lenders

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Social lending platform Weemba announced today that its network of lenders has expanded:

“New Weemba lenders include Crossroads Financial, Mercantile Capital Corporation and MedChoice Financial/Perform Finance, bringing the total number of lenders in the Weemba community to more than 30.”

In the four months since its launch, Weemba has seen hundreds of loan applications that range from $1,000 to 1 million.

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

Finovate Alumni News– December 5, 2011

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFox Business News recommends banking with Simple as a way to counter bank fees.
  • The Sacramento Bee reports SafetyPay expands to U.S. marketplace in the airline & travel payments industries.
  • GeekWire reports Lighter Capital awards undisclosed amount of cash to HireAHelper.
  • Barganeering looks at what sets Personal Capital apart from Mint.com.
  • Business Insider explores the differences between SecondMarket and SharesPost.
  • Sun Life partners with Kony on claims mobile app.
  • Weemba adds 3 financial institutions to its network of lenders.
  • Two credit unions deploy Credit Karma’s tools on their online banking platforms.
  • GoalMine to launch holiday gift card trade-in service.
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.

Announcing the FinovateEurope 2012 Presenter Lineup

europe-blog.gif

FinovateEurope 2012 is just over two months away and it is shaping up to be a great conference. The quality and number of applications we received from companies seeking to debut their latest fintech innovations at the event was truly impressive. That quality meant hard choices for us during the selection process but it also means an amazing showcase of new ideas in European financial technology for the audience.

On February 7th next year, the following companies will take the stage
in London to demo their latest and greatest innovations (we’ll also be
revealing a couple of “stealth” additions to this list closer to the
event):

  • AcceptEmail
  • Actiance
  • Adobe
  • Backbase
  • BCSG
  • Cardlytics
  • CREALOGIX
  • CurrencyFair
  • DCisions
  • eToro
  • ETRONIKA
  • Fenergo
  • Figlo
  • Fiserv
  • Holvi Payment Services
  • iBrokr AG
  • IND Group
  • Ixaris Systems
  • Kabbage
  • Luup
  • Meniga
  • miiCard
  • Mootwin 
  • Nutmeg
  • PayPal
  • Ping Identity
  • Quid
  • Sandstone Technology
  • Serverside Group
  • Service2Media
  • Striata
  • Tradeshift
  • ValidSoft
  • Wipro Technologies

If you’d lock in your spot to watch the future of financial and banking technology debut in London next February, please register soon. 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, register by Friday December 2nd and you’ll get the affordable very early-bird price on your ticket.

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

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

BECU Implements Leadfusion’s Guided Selling

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Leadfusion announced yesterday that Boeing Employees Credit Union is the latest FI to implement its Guided Selling platform that helps empower customers when selecting product offerings.

Since launching Guided Selling, BECU reports positive results:

“We have seen an astonishing 45% engagement with the dialogue and CTR (click-through-rate) to the product comparison/selection tools, and 16% of those applying for a product directly from the Guided Selling tool.”

To learn more about Leadfusion, watch its FinovateFall 2010 demo.

Three Finovate Alumni Listed in Forbes Top 20 Private Companies

Earlier this week, Forbes published a list of America’s 100 most promising private companies.  The rankings are based on annual revenue, number of employees, company strengths, partnerships, and a number of other qualifications. 

Three Finovate alumni made it onto the list, all the top 20:

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BOKU
Rank: 2
Category: Mobile payments platform
Founded: 2009
Funding: $38 million
Headquarters: San Francisco
FinovateEurope 2011 demo

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SecondMarket
Rank: 8
Category: Alternative trading platform
Founded: 2004
Funding: $34.2 million
Headquarters: New York
FinovateStartup09 demo

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Lending Club
Rank: 20
Category: P2P Lending Platform
Founded: 2006
Funding: $77.7 million
Headquarters: San Francisco 
FinovateStartup09 demo

To learn more about the ranking methodologies, visit here.

Finovate Alumni News– December 2, 2011

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  • MasterCard and mFoundry executives discuss partnership.
  • The Silicon Prairie names Dwolla number 1 startup in DesMoines, looks for a number 2 startup following the “Dwolla-trajectory.”
  • Simple is slowly sending out a few dozen invites at a time.
  • Prosper announces its support of UK P2P Finance Association.
  • The Social Lending Network shows off Lending Club’s Trading Platform.
  • Bloomberg Businessweek lists Expensify as an app that lets you work like an executive.
  • peerTransfer partners with Nelnet Business Solutions, provider of campus commerce services.
  • Boku, SecondMarket, & Lending Club listed in Forbes Top 20 Private Companies.
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.

Dwolla Now Free For Transactions Under $10

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Mobile payment startup Dwolla announced today that it will no longer charge a 25-cent fee for transactions under $10.

Dwolla assures its clients that there will be no changes to the product or service and that merchants will receive the same benefits.

On a separate note, Dwolla is celebrating its one-year anniversary of its national rollout today.

To learn more about Dwolla, watch its FinovateSpring 2011 demo

Announcing the FinovateEurope 2012 Presenter Lineup

europe-blog.gif

FinovateEurope 2012 is just over two months away and it is shaping up to be a great conference. The quality and number of applications we received from companies seeking to debut their latest fintech innovations at the event was truly impressive. That quality meant hard choices for us during the selection process but it also means an amazing showcase of new ideas in European financial technology for the audience.

On February 7th next year, the following companies will take the stage
in London to demo their latest and greatest innovations (we’ll also be
revealing a couple of “stealth” additions to this list closer to the
event):

  • AcceptEmail
  • Actiance
  • Adobe
  • Backbase
  • BCSG
  • Cardlytics
  • CREALOGIX
  • CurrencyFair
  • DCisions
  • eToro
  • ETRONIKA
  • Fenergo
  • Figlo
  • Fiserv
  • Holvi Payment Services
  • iBrokr AG
  • IND Group
  • Ixaris Systems
  • Kabbage
  • Luup
  • Meniga
  • miiCard
  • Mootwin 
  • Nutmeg
  • PayPal
  • Ping Identity
  • Quid
  • Sandstone Technology
  • Serverside Group
  • Service2Media
  • Striata
  • Tradeshift
  • ValidSoft
  • Wipro Technologies

If you’d lock in your spot to watch the future of financial and banking technology debut in London next February, please register soon. 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, register by Friday December 2nd and you’ll get the affordable very early-bird price on your ticket.

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

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

PeerTransfer Partners with Tuition Management Systems

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PeerTransfer, a startup that facilitates international tuition payments, announced a partnership with Tuition Management Systems, an organization that helps students manage college costs. 

“Through the partnership, families will be given additional flexibility and be able to make tuition and other education related payments, typically in the currency of their home country.”

The peerTransfer platform will be available to Tuition Management Systems’s network of over 700 schools across the nation. Students of these schools will benefit from lower fees and favorable exchange rates, saving up to $1,500 on a $40,000 tuition payment

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