Finovate 2008 Digital Insight

By Jim Bruene Posted on
Categories: Digital Insight, Finovate, Small Business

image Next up is Digital Insight, now part of Intuit. Karen Van Kirk, director of small business solutions, will conduct the demo.

Calabasas, CA-based Digital Insight will be demonstrating its Small Business Finance Works online banking platform.

FinanceWorks has all the same functionality of Quicken Online. The small business version has been designed to be simple and easy to use for the small business manager. The accounts receivable function includes integrated email capabilities to send personalized payment reminders on the fly.

The service includes integrated remote deposit-capture capabilities.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 mFoundry

By Jim Bruene Posted on
Categories: Finovate, mFoundry, Mobile Banking

image The last of our mobile demos is from Carlo Cardilli, SVP business development & sales, at mFoundry. 

mFoundry is a mobile banking provider founded in 2004. The San Francisco-based company has worked with Citibank among others.

What’s New
mFoundry just launched the second native banking app, available through the Apple App Store. The demo showed a fictitious bank, but the bank that launched the app with mFoundry is IBC.

The iPhone app has full online banking and payments capabilities. It also has an ATM/branch finder that uses the location-based or GPS capabilities in the iPhone.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Thrive

By Jim Bruene Posted on
Categories: Finovate, Personal Financial Management, Thrive

image The second-to-last presenter today is Thrive from Loudwater Labs. CEO Avi Karnani will be conducting the demo.

New York City-based Thrive is the latest entry in the online personal finance market.

What’s New
Thrive is making its official debut today at Finovate. They use a red light/green light system so it’s easy to see what needs attention quickly.

Thrive calculates a financial health score from the user’s data. Then Thrive shows users specifically how they can improve their score. The recommendations show financial institution products that can be used to achieve cost savings (i.e., product placements such as Mint).

On average they are recommending $1500 worth of savings for users.

Thrive has a wizard to help you see how much house you can afford.

Thrive today is announcing a partnership with Credit.com to allow users to track their credit score over time and improve it.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Mint

By Jim Bruene Posted on
Categories: Finovate, Mint, Personal Financial Management

image Mint CEO & Founder Aaron Patzer will be presenting next. 

Online personal finance provider Mint launched a year ago and won a Best of Show award at our first Finovate conference in 2007.

What’s new
Mint moves out of beta today, with 500,000 users. Their sign-up rate has more than doubled in the past 3 weeks.

Today they launched new investment tracking functionality that allows Mint users to track their accounts at more than 1000 investment companies, mutual funds, and retirement services.

A unique aspect of its investment tracking is the ability to see the value of the account vs. the cost basis.

Mint has an IRA Rollover Advisor where they are partnering with Fidelity, Scottrade, E*Trade, and Schwab.

Results: 10% of users have changed investment behavior and 50% of users have changed their spending behavior by using Mint.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 mShift

By Jim Bruene Posted on
Categories: Finovate, Mobile Banking, mShift

image Next we have Awele Ndili, CEO of mShift.

Founded in 1999, mShift is one of the oldest mobile banking providers and now supports 120 clients.

Today, mShift is showing its new mobile business banking solution with full payment capabilities.

Active Messaging System was also demo’d. It’s a new multi-channel alert system that enables alerts to text, voice, email or fax.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Yodlee

By Jim Bruene Posted on
Categories: Finovate

image At the halfway point of the afternoon session, Peter Hazlehurst, SVP of products at Yodlee, will demonstrate.

Yodlee introduced its personal finance platform eight years ago.

Yodlee has 15 million registered users across all of its clients.

Today they are showing Pay Today, an expedited payment system that works in partnership with Western Union. They will be working with 5 of the 7 largest credit card issuers by year-end. Payment capabilities now tie together personal finance with payments, so users can take action to avoid fees or improve their returns.

All the capabilities are available through their software developers kit.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 MoneyAisle

By Jim Bruene Posted on
Categories: Deposits, Checking, Savings, CDs, Finovate, Lead Generation, MoneyAisle

imageNext up is MoneyAisle from NeoSaej. Mukesh Chatter, president & CEO, will demonstrate.

The Burlington, MA-based company launched its auction-based deposit service this summer.

MoneyAisle demonstrated a reverse auction for a CD with a winning bid of 4% APY by Commerce State Bank. The company emphasized that it’s fully transparent with no ads, and the consumer can choose at the end whether they want to accept the bid and purchase the deposit.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 CheckFree

By Jim Bruene Posted on
Categories: Finovate

image CheckFree is up next. Steve Shaw, director of strategic marketing, will demonstrate this afternoon.

CheckFree, now a division of Fiserv, will be showing its Online Advantage online banking platform. CheckFree presented at the first Finovate a year ago.

What’s new
Online Advantage will be introduced later this year. The platform includes integrated billing statement views and payments.

The service also allows for integrated remote-deposit capture, so customers can deposit paper checks using a scanner.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Credit Karma

By Jim Bruene Posted on
Categories: Credit Karma, Credit Reports & ID Theft Protection, Finovate

image The next presenter is Kenneth Lin, CEO of Credit Karma and Nichole Mustard.

Credit Karma has developed an ad-supported, free credit-report service that launched earlier this year. The company first showed its service at our Finovate Startup conference in April.

What’s new
Credit Karma showed credit score trends by Internet service provider, with Gmail users leading the pack.

Credit Karma today is introducing a credit card simulator, which lets you run what-ifs on what would happen to your score if certain things happened. For instance, it shows that if you applied for a new credit card, the example score would drop 15 points. If a late payment occurred, it would drop more than 50. 

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Lending Club

By Jim Bruene Posted on
Categories: Lending Club, P2P Lending

image Next is Lending Club. CEO Renaud Laplanche will do the demo.

Lending Club was the second person-to-person lender in the United States, launching on Facebook in May 2007 and on the Web in September. It’s been operating on a limited basis since March as it sought SEC registration for its loans. The company presented at the first Finovate last year. 

What’s new
Lending Club is back online as of today. The company received approval of its registration documents with the SEC. They are the only P2P lender to have a trading platform, i.e., a secondary market enabling lenders to resell loans they’ve made through the Lending Club platform. The platform is powered by Foliofn.

They have been experiencing a 2% default rate and have been approving 14% of applications received.

Lending Club showed tools that allow lenders to select a desired portfolio of loans based on various risk criteria.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 SmartHippo

By Jim Bruene Posted on
Categories: Finovate, Lead Generation

image The first demo of the afternoon is from George Favvas, co-founder and CEO of SmartHippo.

SmartHippo is a mortgage-loan marketplace that combines user-generated content with rate information scraped by SmartHippo bots, and received directly from lenders themselves. SmartHippo was a presenter in Finovate Startup last April.

SmartHippo is launching a new rate engine later this month that has more than 200 lenders. They are concentrating on mortgages today, but are looking at other verticals in the future.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate 2008 Loanio

By Jim Bruene Posted on
Categories: Finovate, Loanio

image The final demo of the morning is from Michael Solomon, founder of Loanio.

Loanio, which launched Oct. 1, is the third person-to-person loan marketplace to open in the United States. It provided a sneak peek of its platform at Finovate Startup in April ’08.  

Loanio believes this is a great time to launch a P2P lending company. Both borrowers and investors are looking for alternatives.

Solomon walked the audience through the Loanio loan application process — emphasizing the option to have a co-borrower, a first for a U.S. P2P lender — and the optional Platinum loan listing, which includes a host of verifications to give lenders more assurance the borrower is being truthful on the application.

Share this:

Send Post Twitter LinkedIn Facebook