“A cash management tool that simplifies daily spending, provides real-time budgeting, and incentivizes goal achievement. Cardholders engage in a highly interactive debit loyalty and cash-back rewards program grounded in their personal savings goals. GoalCard’s engagement engine and accelerated feedback loops drive a dynamic relationship across cardholder “save-spend” transaction activity. GoalCard is integrated within Facebook to amplify the social and viral user experience, publicly vesting cardholders in their own success. GoalCard’s platform deliberately reinforces behavior critical to a sustainable card program (viral acquisition, time to initial load, direct deposit, spending mix, dormancy response time, fraud profiling).”
ReadyForZero Helps Reduce Bank Credit Losses By Working With Borrowers
“ReadyForZero’s online program reduces bank credit losses and lowers collection costs by helping average borrowers better understand, manage, and pay down their debts. By using real-time data about a person’s financial situation, ReadyForZero delivers personalized payment and behavioral recommendations that can immediately save people time and money while at the same time improving retention and reducing credit losses.”
Offermatic’s Free Rebate Tool Generates Tailored Promotional Offers
“With Free Rebate, any merchant – small or large, online or offline – can offer compelling automatic rebates to its customers and grow sales at no cost. No integration is required and it is easy to set up: you can create your Free Rebate offer in less than 5 minutes.
This model enables merchants to get a great promotion to increase sales from current customers at no cost, while Offermatic gets new customers for its service.”
IND Group Reinvents How Banks Can Communicate With Clients
“Its “wow” innovation is a new online and mobile banking platform, which is reinventing the way a bank can communicate with its customers. Use of natural language, simplicity, usability and data visualization are the key differentiating factors. Easy-to-use main features include the account and transaction visualization, wizard-type money transfers and investments, zero-effort personal finance management, online sales engine and support center.
Through IND’s use of iPhone and Android applications, mobile banking is more than just the extension of online banking features. We think the capabilities of the mobile should be fully used, like GPS location, camera, and the fact that it is always online.”
The Cool House of Financial Media’s eyeOpen Service Matches Consumer with Financial Products
“eyeOpen introduces matching technology in the financial world. The eyeOpen technology enables the business models of a free internet-based financial planner that lets users put information from several sources onto a single screen and then recommends suitable products.
In order to get a match for a suitable mortgage, the consumer answers 13 simple questions. Based on his profile, he will be presented with the option that over 1,000 people like him have chosen, and also with 3 product choices based on what over 500 financial advisors would advise people like him. The algorithm behind this model crunches over 2 million data points per consumer and is based on extensive market research.”
ActivePath & Cardlytics Team for Targeted Offers in eStatements
“Offering bank customers an enhanced eStatement
experience using secure and interactive e-mail messaging to view, activate and otherwise interact with their targeted rewards with the full functionality found in electronic banking. Offers are embedded into relevant transactions using Cardlytics’ industry leading placement engine. Secure and interactive eStatement delivery is provided by ActivePath’s innovative ActiveMail solution.”
Product Launched: August 2011
- ActivePath: New York, NY
- Cardlytics: Atlanta, GA
- ActivePath: 2007
- Cardlytics: 2008
- ActivePath: raised $6mm, 20 employees
- Cardlytics: raised $25mm, 80 employees, 70mm US households (Q1-12)
Transparency Labs Condenses Fine Print Into Clear Content
“Imagine a day when you could easily understand your fine print and:
- Buy a home and quickly decipher the Terms and Conditions of your mortgage
- Know exactly what your insurance policy covers, with a click of a button
- Never have to lie again when you click “I have read, understand and agree to the Terms and Conditions” when visiting a website online
- Save for retirement with confidence
- Know the true cost of your mobile phone plan, credit card, airline tickets and bank accounts
Transparency Labs works by:
- Aggregating thousands of pages of Terms and Conditions issued by America’s largest corporations and financial institutions
- Analyzing the most widely used standard-form-contracts using an objective & empirical methodology
- Cataloging over $100 billion in hidden fees and surcharges and millions of fine print data points
- Tracking ongoing changes in fine print agreements”
Bundle.com Personalizes Recommendations Based on Demographics
“Bundle.com has recently launched the ability for people to personalize their search based on select demographic or behavioral profiles. So, for example, if you want to figure out where foodies are going to eat in Chelsea or where the 26-35 yrs people are shopping for clothes, it’s all available on Bundle.”
Product Launched: August 2011
DoughMain Offers Age-Relevant Financial Education Games
“The free DoughMain platform consists of a family calendar that is integrated with a chore tracker and an allowance/rewards tool. Parents set up their own customized DoughMain that serves as a secure micro-network for the family. On top of its family coordination platform, DoughMain offers financial education via three age-relevant game sites and integrated real-world financial experiences including a bank account and a Visa reloadable card.”
miiCard Creates Validated Online ID Card
Later this afternoon, miiCard demonstrated an identity service that proves users are who they say they are:
“Simply put, we have a catalyst for change in miiCard – a user-centric federated identity that can truly change the way we transact online. A new proposition in the Electronic Identity and Verification (eID&V) market- place, miiCard, for the first time, offers the capability to establish online trust purely online and in real time. Whilst other identity providers and credit reference agencies validate informa- tion about someone – such as their address, credit rating and, more recently, some have introduced behavioral aspects such as questions about transaction history, miiCard validates that a customer is who they say they are. Equally important to the vendors, benefits to the consumer are:
- Security and control of personal data
- Convenience, consistency and simplicity
- Trust between parties in a purely online environment
miiCard is a federated identity service, which means it sits between the consumer and the vendor (or other consumer) and provides a level of trust between parties. miiCard can support not only the UK but North America, Western Europe, India, Australia, New Zealand and soon South Africa.”
Product Launched: October 2010
HQ Location: Edinburgh, United Kingdom
Company Founded: 2010
Metrics: Seed funding raised, 5 employees
Website: miicard.com
Presenting James Varga (CEO)
Wall Street Survivor Teaches Financial Concepts Through Hands-On Experience
“It couples a real-time stock market simulator with content to provide missions. Missions are a set of tasks that teach financial concepts such as creating a portfolio, researching stocks and mastering different trading strategies. Users learn through content and are given virtual cash to test their knowledge on the stock market simulator. Badges and rewards keep users engaged to keep pursuing missions. Wall Street Survivor also has leagues, where users can create their own virtual stock market competitions with their friends or join Wall Street Survivor’s leagues where the top traders win real cash.”
Product Launched: September 2011
Samurai by FeeFighters Lets Merchants Accept Payments Online
“Samurai is a feature-rich gateway that provides ultimate flexibility at an affordable price. With Samurai, you’ll be able to integrate payments on your site in minutes. Samurai boasts premium features such as intelligent routing, data portability, and gateway emulation. Send payments anywhere at a transaction level, meaning you can send a transaction where it makes the most sense financially. It’s also universally compatible, so you aren’t locked into a particular provider. Incredibly easy setup at a fantastic and simple price: $10/month + $0.10/transaction, no other costs.”