HelloWallet’s New Feature is a Budget Within a Budget

HelloWallet’s New Feature is a Budget Within a Budget

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Goals-based saving tools have existed for quite some time, but what if the goal you’ve saved for isn’t just a one-time purchase? HelloWallet’s new feature, Flexible Budgets, launched this week to help users spend wisely over a longer time-period and to help plan for large, infrequent expenses.

The new tool is meant to be used in tandem with a regular monthly budget. Use cases include:

  • Track spending while on vacation
  • Plan for quarterly insurance payments
  • Track an annual clothing budget
  • Maintain a budget for a wedding (as someone who’s getting married in two weeks, I’m well aware of the importance of tracking expenses to make sure there’s enough left over to cut the final check for booze at the end of the reception!)

FlexibleBudget

This feature addresses a common complaint among budgeters who struggle with big-ticket, infrequent purchases. It essentially offers a way for users to set up a budget within a budget. The Flexible Budgets feature is now available in the HelloWallet app for iOS and will launch on Android later this year.

While the app would certainly come in handy as I finalize wedding expenditures, I won’t be able to use it any time soon. HelloWallet is only available as a B2B model aimed to help employers help their employees with financial health. The company’s current customers include: Salesforce, T. Rowe Price, Allstate, Vanguard, and more.

Matt Fellowes, founder of HelloWallet, gave a Best of Show-winning demonstration of Retirement Explorer at FinovateFall 2015. Retirement Explorer is a planning tool that allows users to model and save retirement scenarios. During the demo, Fellowes also announced it now allows banks to integrate HelloWallet’s financial wellness programs.

Two months ago, HelloWallet launched a savings and debt guidance tool to help users achieve their saving, spending, and debt-repayment goals. Founded in 2009, the company was purchased by Morningstar in 2014.

Finovate Fall Sneak Peek: M1 Finance

Finovate Fall Sneak Peek: M1 Finance

M1Finance_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

M1 Finance is the most efficient way to build savings and manage wealth. With M1, any investor can create, organize, and automate a customizable portfolio – all within an intuitive investment platform.

Features:

  • Creation of a customizable portfolio made up of any tradable security
  • Easy management and automated trading on your portfolio
  • Same-day deposits and next-day withdrawals

Why it’s great
Holding deposits in a bank is outdated. With M1, you can automate the seamless transition into assets of your choosing.

M1Finance_BrianBarnesPresenters

Brian Barnes, CEO and Founder
Barnes founded M1 Finance after working as an equity analyst and management consultant. He is a Stanford graduate.
LinkedIn

 

M1Finance_StevenGallSteven Gall, VP Engineering
Gall is an experienced technology leader with a background in systems consulting. He leads back-end development for M1 Finance.
LinkedIn

FinovateFall Sneak Peek: Overbond

FinovateFall Sneak Peek: Overbond

Overbond_homepage_August2016FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Overbond is an end-to-end digital bond-origination platform. Overbond brings all bond market participants together and makes primary bond issuance transparent and secure.

Features:

  • Secure communications channels
  • Real-time market data with custom reporting and analytics
  • Ultimate efficiency and transparency

Why it’s great
Overbond is transforming how global investment banks, institutional investors, corporations, and governments connect and access the fixed-income primary market.

Overbond_VukMagdelinicPresenters

Vuk Magdelinic, CEO and Cofounder
Magdelinic leads digital transformation programs at global banks. He has fifteen years experience in capital markets, management consulting, and technology (PwC, CIBC, Deloitte, Danaher); Ivey MBA; U of T—electrical engineering.
LinkedIn

 

Overbond_HanRyooHan Ryoo, Co-Founder and Head of Product
Ryoo has 8+ years of fixed income and fintech experience. Before Overbond, he specialized in corporate bond origination and led business development and operations at three startups.
LinkedIn

FinovateFall Sneak Peek: GainX

FinovateFall Sneak Peek: GainX

GainX_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

The GainX Innovation Strategy Management platform enables FSIs to adapt, innovate, and commercialize repeatedly. Get greater ROI on innovation spend and sustained competitive advantage in the market.

Features:

  • Insights: Industry benchmarks, gap analysis, innovation-capacity assessment
  • Intellect: Track/manage innovation-spend and ROI in real time
  • Open Thinking: Behavioral analytics and idea management

Why it’s great
Unlike anything in the market, GainX gives you visibility on all things innovative with relevant and real-time metrics, deep engagement, and faster time-to-market. One platform to unleash your ROI.

Gainx_AngeliqueMohringPresenters

Angelique Mohring, CEO and Founder
Mohring founded GainX after working with Global1000s for 20+ years as a tech executive and global change agent. She is an expert in innovation strategy, tech, and economic growth through innovation.
LinkedIn

 

GainX_MalcolmvanRaalteMalcolm van Raalte, CTO and Co-Founder
van Raalte has 20+ years of experience in building technology platforms in fast-growing, high-tech businesses. He has been instrumental in building the GainX platform into a world-class solution.
LinkedIn

FinovateFall Sneak Peek: Aleo

FinovateFall Sneak Peek: Aleo

Aleo_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Aleo.com is a B2B marketplace open to companies of all sizes and integrates online procurement services with easy supplier financing powered by ING Bank.

Features:

  • eRFPs and purchase auction integrated with easy-invoice financing-solution
  • Suppliers receive cash as soon as they like
  • Buyers pay as late as they need

Why it’s great
Aleo.com enables ING Bank to meet client financing needs exactly at the moment they do real business, empowering them to make better procurement, sales and financing decisions.

Presenters

Bartosz Traczyk, CEO, ING Services for Business (Aleo)
Traczyk has 10+ years of experience in banking, process, product, and project management. He is currently responsible for the Beyond Banking offer for corporate and SME clients at ING Poland.
LinkedIn

 

Aleo_OscarSwanOscar Swan, Chief Risk Officer and VP at ING Lease Poland, Board Advisor at ING Services for Business (Aleo)
Swan has 20+ years of experience in banking, market risk and credit risk management, covering various leadership positions at ING.

FinovateFall Sneak Peek: Moven

FinovateFall Sneak Peek: Moven

Moven_homepage_August2016

FF2016-Logo-wdate-largeA look at the companies demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

Moven offers a software platform designed for mobile customer-centric banking, connecting the customer’s lifestyle to the revenue moments of a bank.

Why it’s great
Moven partners with global financial institutions to transform banking from products and balance sheets to insights and advice.

Moven_GregMidtboPresenters

Greg Midtbo, Chief Revenue Officer

 

 

 

Moven_BobSavinoBob Savino, Chief Technical Officer

Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List

Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List

Persado_homepage_August2016

With a three-year growth rate of nearly 94x and revenues of more than $17 million in 2015, Persado came in at #16 on Inc.com’s roster of the fastest growing private companies in America. “The Inc. 500 list stands out where it really counts,” said Eric Schurenberg, Inc. president and editor-in-chief. “No one makes the Inc. 500 without building something great, usually from scratch.”

Alex Vratskides, Persado CEO and cofounder, called the recognition a “tremendous achievement” for his company. “It validates not only our dramatic growth, but also honors the transformative power of cognitive content technology, our pioneering customers, and our brilliant global team,” he said.

Persado_stage_FEU2016

Persado Chief Revenue Officer Lawrence Whittle demonstrated Persado Go at FinovateEurope 2016 in London.

Persado demonstrated its messaging solution, Persado Go, at FinovateEurope 2016 in London this February. The company’s technology “replaces the guesswork of copywriting” by using algorithms to generate language for marketing emails, landing pages, push notifications, social media and other communications. Discussing the technology at FinovateEurope 2016 earlier this year, company CRO Lawrence Whittle said, “In simple terms, we generate the most persuasive message every time with every digital touchpoint with your customers.” And using the example of trying to drive up business among dormant credit-card customers, Whittle showed how Persado was able to quickly build multiple variations of an email message as part of a marketing campaign far faster than a team of copywriters. Whittle pointed out the advantages of machine learning in this context, saying that “these messages are not in any way a judgment around creativity, [but] about what might work in terms of motivating someone to take an action. We are literally analyzing billions of transactions to generate these sixteen messages.”

PersadoGo_image

Persado has raised $66 million in total funding, including a $30 million Series C in April. The company includes Goldman Sachs, StarVest Partners, Bain Capital Ventures, Citi Ventures, and American Express Ventures among its investors. More than 80 global brands use Persado’s technology to enhance their marketing initiatives, earning an average conversion lift of more than 49% and an improvement of more than 68% in click-through rates. Founded in 2012 and originally from the U.K., Persado is headquartered in New York City.

Other Finovate and FinDEVr alums appearing on Inc.’s list include Kabbage (#183; 3-year growth of more than 20x; 2015 revenues of $97.4 million); Lighter Capital (#335; 3 -year growth of more than 11x; 2015 revenues of $4.3 million); and Tango Card (#402; 3-year growth of more than 9x; 2015 revenues of $6.2 million). Finishing just beyond the 500 mark was edo Interactive (#569; 3-year growth of more than 6x; 2015 revenues of $18.1 million).

Finovate Alumni News

On Finovate.com

  • Persado Earns Top 20 Ranking in Inc. 500 Fastest Growing Companies List
  • Qumram Wins Swisscom Startup Challenge (Note: See Qumram demonstrate its technology in New York at FinovateFall 2016 on 8/9 September.)
  • HelloWallet’s New Feature is a Budget Within a Budget
  • Upserve’s New Square Partnership Offers Clients Access to Funding via Square Capital

Around the web

  • New partnership lets small businesses using Xero pay invoices using PayPal.
  • TSYS extends payments agreement with Swisscard.
  • The Muse features Persado on its list of “20 companies that want you to be happy.”
  • CRN lists MapD Technologies as one of 10 of the coolest big-data startups of 2016.

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.

Bizfi Reaches $1.8 Billion Small Business Lending Milestone

Bizfi Reaches $1.8 Billion Small Business Lending Milestone

Bizfi_homepage_August2016b

Courtesy of more than $144 million in originations in the second quarter, small business lending platform Bizfi has just surpassed $1.8 billion in financing to more than 31,000 small businesses since inception 12 years ago. The gains represent a 25% year-over-year increase.

Bizfi founder Stephen Sheinbaum credited partnerships—with Western Independent Bankers (WIB) announced in March, and the National Directory of Registered Tax Return Preparers & Professionals (PTIN) announced a few weeks ago—for his company’s ability to provide financing to an expanding universe of small businesses. And this is especially true in the case of small businesses that have had a difficult time raising funds. “We will continue to forge these white-label partnerships with companies that have existing small business relationships,” Sheinbaum said, “with the goal of solidifying the Bizfi brand and expanding our reach.”

Bizfi_stage_FinovateFall2015

Bizfi founder Stephen Sheinbaum demonstrated the Bizfi platform at FinovateFall 2015 in New York.

Bizfi specializes in combining aggregation, funding, and a marketplace on a single platform for small businesses. This enables Bizfi to provide access to third-party brokers and a direct sales force, cash advances and small business loans, as well as a market that enables institutional investors to participate. The combination of features makes Bizfi unique among alternative finance companies, providing its solutions to its strategic partners via API as both white-label and co-branded options. The company has more than 45 funding partners, including fellow Finovate alums OnDeck, Dealstruck, and Kabbage.

Founded in 2005 and headquartered in New York City, Bizfi demonstrated its technology at FinovateFall 2015. In June, the company picked up a $20 million investment from Metropolitan Equity Partners, bringing Bizfi’s total capital to $85 million.

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

Ethoca to Power Merchant Fraud Alerts for ACI Worldwide

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Ethoca, a collaboration network for card issuers and merchants, landed a new client this week. The company has partnered with ACI Worldwide to integrate its flagship service, Ethoca Alerts, into ACI’s UP eCommerce Payments solution, making it globally available to payment service providers (PSPs).

Ethoca Alerts notifies PSPs, processors, acquirers and their merchant clients of issuer-confirmed fraud and customer-dispute data to help them bolster their existing fraud defenses. The protection against chargebacks passively takes place in the background. When a dispute occurs, Ethoca Alerts helps merchants resolve cardholder complaints before they go into the chargeback process and notifies them to stop the shipment of goods to fraudsters.

“Our integration with the ACI UP eCommerce Payments solution makes Ethoca Alerts easily available to more than 130 payment-service providers and thousands of their merchants,” says Ethoca CMO Keith Briscoe. “As we bring onboard more payment providers and top-tier merchants, the overall network effect increases. All participants, including Ethoca’s network of more than 545 card issuers, get more value by reducing fraud losses and eliminating more chargebacks.”

Toronto-based Ethoca was founded in 2005 and last presented at FinovateEurope 2016 in London. Earlier this year the company integrated Ethoca Alerts into the fraud-detection platform, Kount’s Kount Complete.

ACI Worldwide, which took the stage with MShift at FinovateFall 2011, powers electronic payments for more than 5,100 organizations, including 1,000+ financial institutions and intermediaries.

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

Cortera’s Credit Exchange Now Gathers Insights from $1.2 Trillion in Purchases

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Business-to-business analytics provider Cortera reached a milestone this summer. The Florida-based company yesterday announced it has expanded the Cortera Credit Exchange database.

The Cortera Credit Exchange gathers information on the purchase and payment behavior on more than 10 million U.S. businesses. Between January and July 2016, this database increased by more than $170 billion in B2B purchases. This brings the database’s total annual purchase insights to $1.2 trillion.

Cortera leverages the purchase data to create analytics such as new customer risk-assessments, customer portfolio risk-monitoring, supplier risk management, customer segmentation, insurance underwriting, customer profitability modeling, and loan-default prediction.

Regarding the company’s future plans, Cortera CEO Jim Swift said, “we will continue to expand our data network aggressively and leverage our innovative platform to help customers solve business problems in new ways. We’re excited about the path we’re on.”

Since it was founded in 1993, Cortera has expanded its database to include hundreds of attributes to help businesses create statistical modeling and other analytics. The company demoed at FinovateSpring 2010 and recently appointed Bob Maguire as chief revenue officer.

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held 18/19 October in Santa Clara. Early bird tickets expire soon so register today to save your spot!

On FinDEVr.com

  • First Wave of FinDEVr Silicon Valley Presenters Revealed

The latest from FinDEVr New York 2016 presenters

  • NYMBUS Raises $12 Million in Round Led by Vensure  Enterprises
  • Braintree, Finicity, and Twilio Take Top Honors at API World Awards
  • Markit enhances WSO software suite to offer new levels of automation for syndicated loan market.

Alumni updates

  • National Bank of Kuwait goes live with Temenos Treasury Trader.
  • CardFlight to Power EMV Mobile Processing for BluePay
  • Trulioo announces enhancements to the global AML watchlist capabilities of its GlobalGateway platform.
  • Chain announces new partnership with Initiative for Cryptocurrency and Contracts (IC3).
  • Fintech News Switzerland highlights Currency Cloud in a look at London’s top rising fintech stars.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.