TSYS signs payments agreement with Imperial Bank. The Baltimore Sun mentions BillFloat & Prosper.com as two companies that are assisting cash-strapped consumers. LearnVest launches LV Mom's Newsletter & 2 new products: Baby On Board Bootcamp & LV Discussions. Weemba gives small businesses simple, direct pipeline for raising financing pre-holiday season. Morningstar recommends CheckFree to help control your bills by setting up automatic payments. Continuity Control buys Compliance Services Group of Iowa & Kirschler Peterson & Associates of Atlanta. Crain's New York Business.com mentions BillGuard, BankSimple, Betterment, SecondMarket, On Deck Captial & Plastyc. Jemstep launches out of beta to offer custom investment advice & guidance. 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.
Jemstep launched an investment guidance and management service to the public today. The purpose of the free service is to help investors better control their financial future:"Three years in development, the company's patented investment evaluation technology analyzes more than 20,000 mutual funds and exchange-traded funds (ETFs) to identify the best investment options based on each investor's unique goals and preferences. Data-driven, unbiased and transparent, Jemstep's recommendations enable investors to decide what to buy, what to sell and what to keep."Jemstep CEO Michael Blumenthal describes the new service as personalized, objective, and actionable.To learn more about Jemstep, watch its FinovateSpring 2010 demo.
Last month in Manhattan, 63 leading fintech companies showed off their latest innovations to a packed house at FinovateFall 2011. The audience was our largest ever with over 1,000 bankers, analysts, VCs, bloggers, press and entrepreneurs in attendance. As usual, we've put the videos of all the demos live in the archives for free so you can watch at your convenience and share them with others. We hope you enjoy the videos and that you'll consider joining us in person at our next conference, FinovateEurope 2012 (February 7th in London)! FinovateFall 2011 was sponsored by: The Bancorp, Tier One Partners, TxVia, and the law firm of CB&S.FinovateFall 2011 was partners with: BankInnovation.net, BankerStuff, Celent, CardWeb, deutsche-startups.de, Filene Research Institute, Finance on Windows, PYMNTS.com, Mercator Advisory Group, MyBankTracker.com & Mobile-Financial.com.
Last week, Austin-based Q2ebanking announced that it partnered with Unwired Nation, a company that provides mobile apps as a service."The enhanced offering is set to enable financial institutions to reach retail and business customers via multiple mobile channels and devices. Under terms of the agreement with Unwired Nation, Q2ebanking is to expand its ability to deliver mobile banking apps, making them available for both Android and iPhone users."Q2mobile, its ebanking platform, allows access to banking transactions at more than 300 financial institutions in the U.S.To learn more about Q2ebanking, watch its FinovateSpring 2011 demo.
Editor's note: This guest post was written by Daniel Thomas, a 25-year strategy and product development veteran of the financial services industry. He is a principal consultant with Mindful Insights LLC. BAI’s annual Retail Delivery was held this year in Chicago during Chicago Ideas Week. So, it only seemed fitting to hit the vendor expo floor with a single question: “What is your company’s big idea in the financial services retail channel?” Here are a few of my favorite answers: Access Softek CEO Chris Doner demonstrated a new location-based security feature of their mobile banking platform that he says none of the other mobile banking products have. Others protect against fraud when a mobile phone is lost or stolen by asking the traditional security questions based on what you know (username and password) and what you have (something in your wallet). However, depending on how the user retains these secrets…
GCS Federal Credit Union selects Geezeo to provide PFM service.eToro Blog increases number of daily posts.T8 Webware presents Thinc Iowa Opening Party Oct. 20.Clairmail wins BAI Mobile Pace Setter Award.Silver Tail Systems is selected as a SINET 16 Innovator.CarryQuote wins prestigious 2011 Bully Award.Everything Finance Blog reviews Prosper.com.Bank Innovation reports that Tyfone now allows banks to provide clients with mobile wallet solution.Financial Edge lists the Credit Karma blog as 1 of 6 blogs to help you budget better.T8 Webware signs 14 bank customers to its Grip Platform.FinovateFall 2011 demo videos are now posted!Lighter Capital CEO Andy Sack guest-posts about revenue-based financing on AVC blog.Q2ebanking partners with Unwired Nation to expand its mobile banking.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.
Last week, Iowa-based T8 Webware was featured in American Banker article about the early traction of the company's Grip mobile app launched at Finovate last month:"Grip presents users with a consolidated view of their finances, including a dashboard of available cash and credit, across all aggregated accounts. It also mines aggregated transaction data for possible bank cross-sell opportunities."To learn more about Grip watch T8 Webware's FinovateFall 2011 demo.
Earlier this week, Expensify rolled out two new developments. One of these developments, called the Odometer Reading, helps users more efficiently record vehicle miles travelled:"Now you can enter your start odometer reading before you go on a trip, save that value, and then after you get there, enter the end odometer reading, and we'll calculate the distance and add that mileage expense."To learn more about Expensify, check out its FinovateSpring 2011 demo.
AlphaClone launches "Alternative Alpha" index. Forbes discusses Cardlytics and Offermatic's approach & how they rival GroupOn. Smart Money Mag details how FeeFighters can help cut costs in small businesses. Jack Henry ProfitStars announces availability of the Gladiator NetTeller Enterprise Security Monitoring solution. MyCyberTwin launches DIY Intelligent Virtual Agents. Tyfone Introduces iCashe Mobile Wallet That Combines Mobile Banking With Digital Commerce. UseMyServices partners with SafetyPay for mutual network expansion. NYConvergence reports BankSimple prepares for its New York debut. Business Insider recommends using BillGuard and Mint.com. 24/7 Wall St looks at the P2P opportunity that Prosper brings. McGuireWoods consulting is lobbying to Congress for the use of Dynamics smart cards. Business Insider mentions Xero as a "great Web-based accounting tool." 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.
The FinTech 100, a list of the top revenue-grossing fintech firms, was announced Wednesday at BAI Retail Delivery. Nine Finovate alumni made the cut, including BancVue, debuting at number 95. Pictured to the right are James Ladas and Gabe Krarcek from BancVue. Here are the Finovate alumni, listed according to rank:FIS2011 Rank: 12010 Rank: 3Fiserv2011 Rank: 2 2010 Rank: 1Infosys2011 Rank: 102010 Rank: 11Jack Henry & Associates2011 Rank: 182010 Rank: 18Equifax2011 Rank: 192010 Rank: 20Experian2011 Rank: 242010 Rank: 15ACI Worldwide2011 Rank: 342010 Rank: 34Online Resources2011 Rank: 622010 Rank: 76BancVue2011 Rank: 952010 Rank: NRSee the full list here. To learn how the rankings are calculated, see the American Banker article.
BAI held its giant banktech trade show, Retail Delivery, in its hometown this year, the first time it's been held in Chicago since I began attending in 1993. It was a good year for announcing interesting FI partnerships: PayPal and USAA for mobile P2P payments Cardlytics and PNC for merchant-funded rewards On Deck Capital and US Bank for small business alternative lending And there was a merger of two popular Finovate alums: oFlows and Andera Finally, here are the highlights form my show notes, or what I call the Netbanker Awards (see note). Monday we'll also publish more thoughts from our friend and crafty correspondent Dan Thomas from Mindful Insights. _______________________________________________________________________ 2011 Retail Delivery Netbanker Awards _______________________________________________________________________ Biggest "aha" moment: Varolli shedding light on the huge win-win benefit from proactively managing customer communications across various channels for "financial events" (e.g, new account onboarding, collections, service issues, fraud issues, etc.) Best…
This morning at the BAI Retail Delivery conference, I met with Dan Schatt from PayPal to get the inside scoop on its financial innovations. Here's what I found out:1) It is introducing P2P payment capability with financial institutions. It is now live with USAA and will soon be developed for BancVue's network of nearly 1300 community banks.2) It has reached an agreement with mFoundry to bring mobile solutions that bring a native app experience to customers located all over the globe. 3) It has teamed with NCR and S1 to allow customers to send real-time P2P payments directly from ATMs to another individual with a PayPal account.4) It is partnering with MeridianLink to allow new bank customers to fund their online bank accounts by transferring funds directly from their PayPal account.5) It has formed a relationship with ezRez Software that, starting next year, will allow consumers to use rewards points and travel miles…