FinovateSpring Sneak Peek: Roostify

FinovateSpring Sneak Peek: Roostify

Roostify_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Roostify simplifies and accelerates the home lending experience.

Features:

  • Automated mortgage approval
  • An integrated borrower/lender/real estate agent experience
  • Consumer self-serve capability in the closing process

Why it’s great
You can give your borrowers a lending experience that’s fast, easy, and something they’re actually excited to tell their friends about.

Presenters

Roostify_NathanielSokollWardNathaniel Sokoll-Ward, Head of Product 
Sokoll-Ward is a former Google consumer-tech veteran taking on broken financial transactions.
LinkedIn

 

 

Roostify_JonathanKirstJonathan Kirst, CTO
Kirst is a former Salesforce engineering maven taking on broken financial transactions.
LinkedIn

 

FinovateSpring Sneak Peek: Malauzai Software

FinovateSpring Sneak Peek: Malauzai Software

Malauzai_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Malauzai Software will show its latest mobile offering, MOX Pay, a set of mobile wallet apps for small businesses, powered by community financial institutions.

Features:

  • Empower small businesses to publish affordable, payment-centric mobile apps
  • Help local businesses get paid faster and cheaper
  • Use existing technologies and services in new ways

Why it’s great
It offers mobile wallet apps for small businesses, powered by community banks and credit unions.

Presenters

Robb Gaynor, Co-founder, Chief Product Officer
Gaynor is chief product officer and co-founder of Malauzai Software Inc., a provider of mobile and internet banking SmartApps for community financial institutions.
LinkedIn

Blake Pelletier, SVP, Chief Information Officer & Chief Information Security Officer, Redding Bank of Commerce
LinkedIn

Malauzai_DanielPiangerelliDanny Piangerelli, Co-founder and CTO
Piangerelli leads the technology team and is responsible for all aspects of Malauzai’s technology infrastructure.
LinkedIn

SumUp Announces Merger with Payleven

SumUp Announces Merger with Payleven

SumUp_homepage_April2016

The merger between mPOS innovators SumUp and payleven announced this week will create a new giant in the industry that processes more than €1 billion a year in 15 countries.

Founder and CEO of SumUp Daniel Klein called the deal a “game-changer for the mobile payments industry” and a major move toward his vision of building the “first ever global card acceptance brand.” payleven co-founder Konstantin Wolff referred to SumUP and payleven as “two complimentary teams sharing the same vision” and said the merger would produce a company that is “larger and more powerful than the sum of its parts.” The combined entity will operate as SumUp.

SumUp_stage_FEU2013c

Pictured (left to right): Stefan Jeschonnek, CMO and co-founder, and Florian Richter, country manager, U.K., demonstrated SumUp at FinovateEurope 2013 in London.

SumUp’s proprietary end-to-end EMV technology, hardware terminal, and mobile apps enable merchants to accept both credit and debit card transactions with a smartphone or tablet. Certification with Europay, MasterCard, and Visa ensures a high level of payment security and has enabled the company to serve merchants in 15 countries such as Brazil, Sweden and, as of last October, the U.S. SumUp’s investors include American Express, BBVA Ventures, Groupon, Venture Incubator AG—all participants of the company’s most recent fundraising last August. Founded in August 2011 and headquartered in Dublin, Ireland, SumUp demonstrated its technology at FinovateEurope 2013.

payleven’s Bluetooth-powered card readers help SMEs process credit and debit card payments. Founded in 2012, the Berlin-based company raised more than $25 million in funding, including a $10 million Series D round in February.

BlueVine Receives Boost from Citigroup

BlueVine Receives Boost from Citigroup

bluevinehomepage

Alternative lending company BlueVine this week received an undisclosed amount of funding from Citi Ventures, Citibank’s investing arm. The funding adds to BlueVine’s $40 million round, led by Menlo Ventures, that closed a few months back.

While the full terms of the deal have not been disclosed, the two are working on a strategic relationship. Citibank is already working with P2P lender Lending Club to offer credit to underserved communities, and it’s likely the megabank is hoping to tap into BlueVine’s expertise in factoring, which accounts for about 85% of its business.

In a statement, managing director at Citi Ventures, Arvind Purushotham, states:

“We found BlueVine doing factoring in a much more modern fashion. They’re able to approve invoices to be factored very quickly, and because they’re online and plugged into account systems that small- and medium-sized business use, they’re able to pull data from a variety of sources.”

This strategic partnership follows a recent trend of financial institutions experimenting with alternative lending partnerships. Citibank’s 2015 partnership with Lending Club has so far been successful, but earlier this month the bank shuttered an agreement with Prosper in which Citibank was to sell $377 million in bonds backed by Prosper loans. Also this month, JP Morgan Chase launched a partnership with On Deck to offer online loans to small business clients.

BlueVineFF14StageBluevine’s VP Operations Edward Castaño and CEO Eyal Lifshitz demonstrated on stage at FinovateFall 2014.

Founded in 2013, BlueVine issues working capital to small businesses who sell their unpaid invoices at a discount, then receive $5,000 to $250,000 in a matter of days to help manage operations. Unlike BlueVine’s traditional line of credit offering, the term of the financing is short, usually 60 to 90 days. The Palo Alto-based company’s CEO Eyal Lifshitz debuted BlueVine at FinovateFall 2014.

Finovate Alumni News

On Finovate.com

  • “BlueVine Receives Boost from Citigroup”
  • “Infosys Launches EdgeVerve Blockchain Framework”

Around the web

  • “Cartera Commerce-powered Splender Doubles Membership Since End of 2015 and Drives $15 Million in Sales”
  • Linqto to pilot LEVERAGE App Store with nine credit unions.
  • Fiserv integrates commercial lending capabilities of AFSVision into its core account processing platform.
  • BBVA announces having 15.5 million digital clients, including more than 9 million mobile clients.
  • U.K. e-commerce provider EKM to team up with Klarna.
  • ACI Worldwide to run the card processing operations for The Co-operative Group.
  • Insuritas chosen by First Atlantic FCU to install insurance agency solution.
  • Employee Benefits News recognizes Blooom CPO Randy AufDerHeide as a Top 50 Benefit Technology Innovator.
  • Xero for Payroll goes live in Pennsylvania, making the technology available in a total of 22 states.

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.

Finovate, FinDEVr Alums Among Winners of 2016 Fintech Innovation Awards

Finovate, FinDEVr Alums Among Winners of 2016 Fintech Innovation Awards

FinTechInnovationAwards_2016_homepage

Of the 15 first place prizes awarded this month in the 2016 Fintech Innovation Awards, five went to Finovate/FinDEVr alums.

“This award is recognition of the strength of our idea for peer-to-peer lending and the growth we have seen since then as the idea has moved mainstream,” Giles Andrews said. “Of course, credit should go much more to the team who helped build Zopa’s scale, particularly Jaidev who took the reins last year and led the company to record levels of growth.”

“FinTech continues to be at the forefront of innovation, and that requires equally innovative RegTech solutions for risk management, security, and fraud,” Zac Cohen, Trulioo general manager, said. “Our Compliance-as-a-Service technology addresses that need, enabling pioneering technologies to grow their businesses and protect their users on a global scale.”

“In a shifting U.K. market, our range of price-optimization products are helping banks to better understand their customers’ behaviors and sensitivities through advanced analytics and analysis,” Damian Young, managing director, EMEA at Nomis Solutions, said, “This brings banks significant competitive and market advantage that will help them grow smartly and responsibly in any economic environment.”

“It’s brilliant to be recognized by the industry for our work in creating an award-winning money-transfer service, but the best prize of all is our ever-growing number of happy customers,” Azimo founder and CEO Michael Kent said. “They’re all part of the Azimo story – sending money home to support loved ones for all kinds of reasons.”

Also earning recognition at the event was EquityZen. The company, which will make its Finovate debut next month at FinovateSpring 2016 in San Jose, won the Innovation in Wealth, Asset, and Investment Management category.

Hosted by Julia Streets, CEO and founder of Streets Consulting, the 2016 FinTech Innovation Awards winners were chosen by a group of leading fintech specialists chaired by Dan Cobley, managing partner at Blenheim Chalcot. Taking home top honors in the remaining 11 categories were:

  • Innovation of the Year: ClearScore
  • Fintech Marketing Campaign of the Year: “Cashless on the Catwalk” by The 10 Group and Visa Europe
  • Fintech Startup of the Year: ClearScore
  • Innovation in Corporate Banking Solutions: Idea Cloud by Idea Bank SA
  • Innovation in Insurance: Bought by Many platform by Bought By Many and Ping An Insurance.
  • Innovation in Lending: Marketinvoice
  • Innovation in Payments: Zwipe Payment by Zwipe
  • Innovation in Risk Management: Imagine Software
  • Innovation in Trading Systems: FX Connect from State Street Bank
  • Innovation in Treasury Management: Walletsizing by Vallstein

The FinTech Innovation Awards were held at The Brewery in London on April 13th. The event featured a keynote address from author and Duke University professor, Dan Ariely, as well as remarks from Minister for the Cabinet Office and Paymaster General, Matt Hancock. Finovate alum Strands was among the event’s sponsors.

Marketplace Lending Power 20 List Honors 8 Alums

Marketplace Lending Power 20 List Honors 8 Alums

Power20This week, small business lender Mayava Capital honored the most influential people in small business lending in its Marketplace Lending Power 20 awards.

Representatives from eight Finovate alums were ranked among the group who are, as Mayava puts it, “redefining lending, resurrecting small businesses across the country, and consequently rebuilding the American economy, one loan at a time.” For more information about the awards, check out What Powers the Power 20.

The recipients in order of rank:

Lending Club CEO and Founder Renaud Laplanche
Rank: #1

Lending Club’s FinovateSpring 2009 demo

Prosper CEO Aaron Vermut
Rank: #5

Prosper’s FinovateSpring 2009 demo

OnDeck Capital CEO Noah Breslow
Rank: #8

OnDeck’s FinovateSpring 2012 demo

OnDeck’s FinDEVr New York 2016 presentation

Kabbage COO and Co-founder Kathryn Petralia
Rank: #9

  • Has grown to 80 employees since launching in 2009
  • Has gained 100,000+ customers
  • Has furnished almost $1 billion in loans

Kabbage’s FinovateSpring 2015 demo

Kabbage’s FinDEVr San Francisco 2015 presentation

Credit Karma CEO and Founder Kenneth Lin
Rank: #10

  • Ranked a top-free finance app in iTunes
  • Serves 50+ million users
  • Founded in 2007

Credit Karma’s FinovateSpring 2009 demo

LiftForward President and CEO Jeffrey Rogers
Rank: #17

  • Has secured credit facilities of up to $250 million
  • More than 70% of the company’s SMB borrowers return for a second loan

LiftForward’s FinovateFall 2015 demo

Patch of Land former CEO* and Co-founder Jason Fritton
Rank: #18

  • Formed the idea of the company in 2011 to help Chicago recover from the real estate crash
  • Since launching in 2013, has funded 217 loans totaling $97 million
  • Has returned $25 million to investors

Patch of Land’s FinovateFall 2014 demo

Lendio CEO and Founder Brock Blake
Rank: #20

  • Has helped more than 500,000 small business owners secure loans since launching in 2005
  • Holds a database of more than 3,500 active U.S. lenders
  • Recognized as one of Utah’s fastest growing companies in 2011

Lendio’s FinovateSpring 2011 demo


*Just this week Patch of Land appointed Paul Deitch, former managing director of Oaktree Capital Management, to take Fritton’s place as Patch of Land CEO.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • Beyond the Bitcoin BlockChain: Coinalytics is Now Skry”

The latest from FinDEVr New York 2016 presenters

  • Capgemini consulting services adds risk and fraud management technology from FICO.
  • Aerospike releases version 3.8 of its database server.
  • Wealth Professional features Betterment in a column on roboadvisors.

Alumni updates

  • Blockchain solution provider Gem launches Gem Health.
  • CNBC Africa interviews Entersekt CEO Schalk Nolte.

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

Finovate Alumni News

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • “Finovate, FinDEVr Alums Among Winners of 2016 Fintech Innovation Awards”
  • “Marketplace Lending “Power 20” List Honors 8 Alums”

Around the web

  • FamZoo celebrates its tenth birthday of helping parents prepare financially strong children.
  • EyeVerify’s EyeprintID to power HYPR’s Biometric Security Suite.
  • Socure launches v. 2.5 of its ID+ Digital Identity solution.
  • Blockchain solution provider Gem launches Gem Health.
  • EdgeVerve Systems launches its EdgeVerve Blockchain Framework for banks.
  • Sberbank to deploy risk management technology from Wolters Kluwer.
  • FD teams up with Thomson Reuters to power its DaaS platform, Velocity Analytics.

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.

Narrative Science Turns Business Intel Into Data-Driven Stories

Narrative Science Turns Business Intel Into Data-Driven Stories

NarrativeScience_NarrativesforBI

With the launch of Narratives for Power BI, Narrative Science unveils the latest integration of its advanced natural language generation (NLG) technology. The new extension, developed in collaboration with Microsoft, will give Microsoft Power BI users advanced analytics and data-visualization tools to help them read and understand corporate data.

“Integrating Advanced NLG into Microsoft Power BI enables our customers to automatically turn complex data into insightful stories,” says Nick Caldwell, general manager of Microsoft Power BI. Both companies emphasized the importance of making technologies like advanced NLG accessible to the business. This collaboration is, according to Narrative Science CEO Stuart Frankel, key to “maximiz(ing) the value of their business intelligence efforts.”

NarrativeScience_screenshot“Put simply, this collaboration not only enhances and amplifies the user experience for customers of Power BI,” Frankel wrote in a blog post about the launch, “but also further drives the democratization of information, where users don’t need to interpret data and visualizations—they simply need to read.” Microsoft Power BI has more than 5 million users and works with Adobe Analytics, Github, Salesforce, and more than 50 other data sources.

Download Narratives for Power BI. Notes and tips on using the extension are published at the Microsoft Power BI Blog.

Narratives for Power BI is the second major new innovation from Narrative Science this year. In January, Narrative Science launched Narratives for Qlik, bringing its advanced NLG technology to the Pennsylvania-based company’s visual analytics and business-intelligence platform. Narrative Science was featured in Forbes earlier this month, and in the New York Times in February. The company has raised more than $29 million in funding; most recently picking up $10 million in a round led by USAA.

Founded in 2010 and headquartered in Chicago, Illinois, Narrative Science demoed Quill Financial at FinovateFall 2013.

FinovateSpring Sneak Peek: Finova Financial

FinovateSpring Sneak Peek: Finova Financial

FinovaFinancialHomepage

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Finova Financial, a socially responsible lender, provides fast, affordable loans based on the equity in your car to the 70 million financially underserved Americans.

Features:

  • Costs 70% less than the current national average
  • Instant access to capital and a 12-month pathway back to financial health
  • Online/mobile 24×7

Why it’s great
Finova provides a same-day solution for emergency expenses to the millions of Americans who spend $5.3 billion annually on title loans at a cost 70% less than the current national average.FinovaPresenter1

Presenter: Gregory Keough, CEO
Keough is an executive with global experience. He is a serial entrepreneur with an impressive track record of innovation in the technology and financial services arena.
LinkedIn

FinovateSpring Sneak Peek: SaleMove

FinovateSpring Sneak Peek: SaleMove

SaleMoveHomepage

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

SaleMove enables organizations to engage online visitors the same way they would in person, using video, audio, chat, and co-browsing without any downloads or installations.

Features:

  • Increase conversions
  • Enhance customer experience
  • Improve contact center efficiency

Why it’s great
Businesses that use SaleMove are able to provide online customers with the same high-touch interactions that are possible face-to-face.

salemovepresenter

Presenter: Daniel Michaeli, Co-Founder and CEO
Michaeli is a Univeristy of Pennsylvania graduate, originally from Guatemala. His career has focused on Venture Capital, Tech/Strategy Consulting and Start-Ups.
LinkedIn