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SecondMarket Exceeds $1 Billion in Deals

By Julie Muhn (@julieschicktanz) Posted on January 20, 2012
Categories: SecondMarket

2011 was a big year for IPOs and that has been reflected in the growth of secondary marketplace, SecondMarket.

Yesterday, Forbes published statistics on the startup's performance over its three years of operation:

In 2011, private company transactions totaled $558 million From 2011 to 2010, private company transactions increased 55% Since it began in 2008, the startup has exceeded $1 billion in deals In 2011, over 61% of transactions were in the social media and consumer web space

2011 Sellers:

79% were ex-employees 11% were employees 4% were investors Less than 1% were founders

2011 Buyers (by dollar value):

73% were institutions 27% were individuals

The top 10 most watched companies on SecondMarket (as of 4Q 2011):

Facebook Twitter Foursquare Dropbox Yelp Gilt Groupe Hulu Square Living Social Spotify

To learn more about SecondMarket, watch its FinovateStartup09 demo.

Finovate Alumni News– January 20, 2012

By Julie Muhn (@julieschicktanz) Posted on January 20, 2012
Categories: BillGuard, Cardlytics, Cartera Commerce, Dynamics, HelloWallet, PayPal, Prosper, SecondMarket, Simple, Zopa

Business Insider looks at how BillGuard and Simple use Big Data. Prosper launches $1,000 giveaway. Dough Roller recommends using HelloWallet to keep track of your cash. P2P-Banking looks at Zopa's online marketing spending. NACS Online explores the Dynamics smarter credit card. American Banker suggests banks should consider working with merchant reward companies like Cardlytics and Cartera Commerce. PayPal's payments technology to reach all Home Depot locations by March. SecondMarket exceeds $1 billion in deals. 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.

Op Ed: Rise of the Feenix

By Jim Bruene Posted on January 19, 2012
Categories: Fee Income, Mobile Banking, Pricing

by Michael Nuciforo

Editor's note: This post was written by Michael Nuciforo, a Mobile Banking Consultant at Keatan. He previously worked at ANZ on a number of developments, including goMoney, and more recently was Head of Mobile Banking at RBS managing the UK Retail portfolio.

Banks has perfected what I refer to as the ‘negative pricing model.’ In simple terms, fees are charged when customers make mistakes. We are all familiar with it. It is the annoying cost of returning a DVD late, or staying too long in your parking space.

At present, banks rely significantly on revenue generated from fees when customers fall afoul of their terms and conditions. Amongst all the doom and gloom of regulatory pressure, the euro debt crises, and record low margins, could mobile banking be the right service to implement a ‘positive pricing model’?

Tiered charges for access to additional features and content…

PayPal’s Payments Technology To Reach All Home Depot Locations By March

By Julie Muhn (@julieschicktanz) Posted on January 19, 2012
Categories: PayPal

PayPal will be expanding its payments trial from five Home Depot locations to 51:

American Banker reports:

"PayPal, of San Jose, Calif., said this month that it is testing this system at five Home Depot stores. This week, it will expand the trial to 51 Home Depot stores: one in Atlanta, six in Omaha and 44 in the San Francisco bay area."

PayPal hopes that by March, the technology will be available in all Home Depot stores across the U.S.

As PaymentsViews noted yesterday, this is not a mobile payments technology (as mistaken by some). Because the transaction requires a phone number combined with a PIN, the customer never uses a mobile device.

To read a personal account of how the technology works in action, check out what Russ Jones, PaymentsViews writer, has to say about the experience.

To learn more about PayPal, watch its FinovateSpring 2011 demo and…

Doxo Looks Back at 2011 Achievements

By Julie Muhn (@julieschicktanz) Posted on January 19, 2012
Categories: Doxo

Seattle-based doxo published an infographic yesterday detailing its successes in 2011.

Doxo users:

The highest number of documents uploaded by a single user was 1,206 The most provider accounts listed by a single user was 62 The most payments to providers by a single user was $9,100

Doxo providers:

Users listed 13,848 different providers in 2011 New York, NY had 1,120 different providers, the highest in the nation

Awards won in 2011:

OnDemand Top 100 Red Herring Top 100 Global Stevie American Business New Product of the Year Award Top 10 Rethinking Ideas of 2011

Most active doxo providers:

Puget Sound Energy AT&T KCP&L Sound Community Bank Froula Alarm System Oregon Employees CU Sprint

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

Q2ebanking Selects Matt Flake as New CEO

By Julie Muhn (@julieschicktanz) Posted on January 19, 2012
Categories: Q2ebanking

Electronic banking solutions company Q2ebanking announced yesterday that it appointed Matt Flake as CEO:

"Flake has more than 20 years of financial industry experience. Prior to his role as Q2's president, he was a senior vice president for Q2, responsible for sales, marketing and business development."

Flake will be responsible for daily operations and overall strategic direction.

To learn more about Q2ebanking, watch its FinovateSpring 2011 demo.

Finovate Alumni News– January 19, 2012

By Julie Muhn (@julieschicktanz) Posted on January 19, 2012
Categories: Betterment, Bill.com, Check Point, Credit Karma, Doxo, HelloWallet, MiiCard, Mint.com, planwise, Q2ebanking, ReadyForZero, TradeKing, ValidSoft, Worklight

WorkLight launches special program for enterprise mobile and ISV developers. TRUSTe certifies miiCard's website to display the TRUSTe Web Privacy Seal. Clifford Change law firm deploys Check Point software for a network security solution. Financial Post highlights planwise. Bill.com helps banks offer business customers a more powerful payment, invoicing, and cash management platform. SC Magazine considers ValidSoft's view of voice biometrics. Come see ValidSoft at FinovateEurope Feb. 7. Huffington Post recommends Mint.com, HelloWallet, Credit Karma, TradeKing, ReadyForZero, & Betterment for college students. Q2ebanking selects Matt Flake as new CEO. Doxo looks back at 2011 achievements. 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.

FinovateSpring 2012 — Save Big with a Super Early-Bird Ticket!

By finovate Posted on January 18, 2012
Categories: FinovateSpring 2012

With 2012 underway and winter out in full force, it means that spring is just around the corner. And with the warmer weather will come our return to San Francisco with FinovateSpring 2012.

On May 8th & 9th, we will again be showcasing dozens of Silicon Valley's newest fintech innovations via our signature format that blends fast-paced demos with high-quality networking.

Tickets for the event are selling quickly and we're on pace to beat last year's record attendance of 850. The already long list of registered attendees includes executives from organizations like Wells Fargo, MasterCard, Mint.com, Charles Schwab, Citi, CNNMoney, Aite Group, H&R Block, Intuit, BBVA, and USAA (to name just a few).

If you're interested in joining them to watch the future of financial and banking
technology unfold live on stage at this must-attend event then please get your ticket before Friday to lock in your spot at…

BrightScope Partners with Social Media Expert Arkovi

By Julie Muhn (@julieschicktanz) Posted on January 18, 2012
Categories: BrightScope

On the heels of FiPath's announcement yesterday, BrightScope revealed it is also partnering with social media engagement company Arkovi:

"Financial services professionals using BrightScope Advisor Pages can now activate Arkovi with an exclusive 30 day free trial. Once activated, each advisor and firm will have a permanent record of their social media participation on BrightScope and other prominent sites."

BrightScope advisors who use Arkovi will benefit from:

Real time ability to tap into social media website activity Ability to access stored content 24/7 Easy activation

To learn more about BrightScope, watch its Finovate 2009 demo.

FinovateSpring 2012 — Save Big with a Super Early-Bird Ticket!

By finovate Posted on January 18, 2012
Categories: FinovateSpring 2012

With 2012 underway and winter out in full force, it means that spring is just around the corner. And with the warmer weather will come our return to San Francisco with FinovateSpring 2012.

On May 8th & 9th, we will again be showcasing dozens of Silicon Valley's newest fintech innovations via our signature format that blends fast-paced demos with high-quality networking.

Oregon-based Credit Union Launches BancVue’s Kasasa

By Julie Muhn (@julieschicktanz) Posted on January 18, 2012
Categories: Kasasa

St Helens Community Federal Credit Union announced yesterday that it is the first financial institution in Oregon to launch BancVue's Kasasa.

CU Insight reports:

"St. Helens Community FCU is offering two Kasasa financial products, including Kasasa Cash® and Kasasa Tunes®. All Kasasa products are free, reward-based accounts, with no minimum balance to earn the rewards, no monthly service fees, free online banking and other convenience services, and worldwide ATM fee refunds."

Kasasa Cash is a high-interest, free checking account for qualifying members and Kasasa Tunes is a free checking account that rewards qualifying members with downloads from iTunes or Amazon.

To learn more about BancVue's Kasasa, watch its Finovate2009 demo and check out Netbanker's blog post from last week.

Plastyc’s UPside Cardholders Can Now Load Cash Onto Cards At 7-Eleven Stores

By Julie Muhn (@julieschicktanz) Posted on January 18, 2012
Categories: Plastyc

Plastyc, creator of the UPside Visa prepaid card, announced yesterday that it is using GreenDot's Swipe&Load technology to enable UPside cardholders to load cash onto their cards at 7-Eleven stores:

"Swipe&Load technology makes it faster and easier for people to add cash to their reloadable cards. Now cardholders can visit any 7-Eleven store in the U.S and hand their UPside Visa card and cash to the cashier. The cashier swipes the card and the money is added to the card on the spot."

The Swipe&Load service costs users under $5 and will be available at over 6,500 7-Eleven store across the U.S.

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