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American Express Launching Small Business Loans with Lendio

By Julie Muhn (@julieschicktanz) Posted on April 22, 2016
Categories: American Express, Lendio

Small business loan-marketplace Lendio recently partnered with American Express to power the credit card company’s merchant financing offering.

The loans, which will help Amex expand its customer base, will range from $5,000 to $2 million for up to a 2-year term. To qualify, a business must have been in operation for at least two years and have a minimum of $50,000 in revenue.

The partnership is expected to help Amex make up for the termination of its alliance with Costco, which accounted for 20% of Amex’s outstanding loans.

Lendio works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. Last year, the Utah-based company facilitated over $128 million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on April 22, 2016
Categories: Check Point, Entersekt, Fastacash, Featurespace, Finaeos, Lendio

On Finovate.com

“American Express Launching Small Business Loans with Lendio”

“Finovate Debuts: Featurespace’s ARIC Sandbox Offers a Safe Environment to Test Fraud Models”

Around the web

SMART Awards Asia honors Fastacash for the Best P2P Payment Initiative.

CNBC Africa interviews Schalk Nolte, CEO of Entersekt.

Check Point Software Technologies and ElevenPaths partner to provide Joint Mobile Protection Services Globally.

Finaeos to sell its platform-as-a-service offering on Microsoft Azure.

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.

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San Francisco Business Times Ranks 4 Alums Among the Area’s Best Places to Work

By Julie Muhn (@julieschicktanz) Posted on April 21, 2016
Categories: Gusto, Intuit, Signifyd, WePay, ZenPayroll

The Bay Area is one of the hottest cities in tech right now, and with a city full of companies vying to hire the best talent comes plenty of competition in the form of job perks. The San Francisco Business Times recently released its list of the best places to work in the Bay Area in 2016.

The 125 companies that made the list were selected from a group of 400 nominees. Quantum Workplace created the rankings from survey data received from employees of nominated companies. The rankings are numeric, based on Quantum’s scoring process.

Four Finovate alums in four categories made the list:

Category: largest companies

Intuit

Rank: #4 in largest companies
2015 rank: #6 in largest companies
Founded: 1983
Best perks:

8 weeks of paid parental leave
Subsidized rates for child care and elder care
Programs for pet-sitting and dog-walking

Intuit’s Mint demoed at FinovateSpring 2013 and its developer group presented at our 2015 FinDEVr event on the West Coast.

https://finovate.wistia.com/medias/1qojxlxidj

Category: large companies

Gusto (formerly ZenPayroll)

Rank: #5 in large companies
2015 rank: #1 in small companies
Founded: 2011
Best perks:

A ticket to visit anywhere in the world after an employee’s one-year work anniversary
New-hire workshops that expose employees to all aspects of the organization
Bimonthly meetings that openly discuss Gusto’s growth and financial situation

Gusto demoed (as ZenPayroll) at FinovateSpring 2014:

Category: mid-size companies

WePay

Rank: #20 in mid-size companies
Founded: 2009
Perks:

Free lunch and snacks
Gym membership
Family ski trip for all employees and their families

WePay demoed at FinovateSpring 2014

Category: smallest companies

Signifyd

Rank: #7 in smallest companies
Founded: 2011
Perks:

Catered lunch
Specialized coffee
Game room

Signifyd demoed at FinovateSpring 2013

To see the newest in fintech from the Bay Area, check out FinovateSpring, which comes to San Jose on May 10 & 11. Tickets are going fast so register soon.

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FinovateSpring Sneak Peek: VIX Verify

By David Penn Posted on April 21, 2016
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, VIX Verify

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

VIX Verify is a global leader in consumer on-boarding and identity-verification solutions. We will be demonstrating our award-winning, SaaS-based platform for delivering these services: greenID.

Features:

- Global data and document coverage for over 3 billion consumers
- Compliance with local AML/KYC/CTF, information security and consumer privacy regulations
- Flexible integration options

Why it’s great
greenID is the only global, integrated, on-boarding platform that combines data verification, document verification, and facial recognition technologies to authenticate consumer identities in real-time.

Presenters:

Jennifer Hughes, Business Development
Hughes is a financial services industry specialist with more than twenty years of product management, consulting and information technology experience at leading global institutions.
LinkedIn

Marco Piovesan, General Manager
Piovesan is a globally seasoned and dynamic senior executive with extensive experience successfully building and leading numerous multimillion dollar data, analytics, and financial software businesses.
LinkedIn

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First Data’s Clover Launches Ecommerce Solution

By Julie Muhn (@julieschicktanz) Posted on April 21, 2016
Categories: Clover Network

Payment-processing company Clover, which was acquired by First Data in 2012, announced it will soon launch the Clover Online Store, a complete ecommerce platform for small businesses.

The offering is an all-in-one solution that delivers professional-looking web design and secure ecommerce capabilities. Clover is integrating the ecommerce offering with its in-store POS terminals, which range from a simple dongle to a fully-fledged countertop station. The combined solution will enable Clover to deliver an omnichannel shopping experience for end-customers and a comprehensive view of sales metrics and management capability across channels for small businesses.

Similar to Square’s ecommerce offering, the Clover Online Store lets users select from a variety of professionally designed web templates and guides them through the steps needed to create a responsive-design website and online store. Businesses can start accepting payments directly on their website using Clover’s open API.

Booker, an online scheduling platform for service-oriented small businesses, is the first third-party to build on the Clover API. Josh McCarter, CEO of Booker, is excited about the new capabilities the Clover Online Store will bring to its client base, “The combination of the Clover Online Store and Booker is a game-changer for SMB service businesses that will benefit from the first completely integrated business management and payment solution, allowing business owners to focus on the work they enjoy.”

Clover debuted at FinovateSpring 2012. The Clover Online Store is launching next month and will be available for free to small business customers until the end of this year.

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FinovateSpring Sneak Peek: NCR

By David Penn Posted on April 21, 2016
Categories: Digital Insight, FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, NCR Corporation

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

NCR Corporation’s solution connects and shares itemized consumer-transaction data from all the industries NCR serves and presents consumers with their complete financial picture in its Digital Banking offering.

Features:

Open API: Automatic data flow from all consumer touchpoints into digital banking
Predictive, prescriptive analytics: improves cross-sell
Consumer-centric: creates more personalized experiences

Why it’s great
NCR’s solution transforms the banking experience and how consumers transact in other industries, and is only one dimension of the scalable functionality enabled by our unified omnichannel platform.

Presenters:

Kimberly Prieto, Director of Business Development and Alliances, Digital Insight
Prieto is a director at Digital Insight, leading teams responsible for solution management, business development, and alliance management.
LinkedIn

Shuki Licht, Senior Enterprise Architect, NCR Corporation
Licht is a senior software architect, leading architecture innovations for software projects, embedded programs and wide system solutions by using modern concepts and patterns.
LinkedIn

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FinovateSpring Sneak Peek: The CardLinx Association

By David Penn Posted on April 21, 2016
Categories: CardLinX, FinovateSpring 2016, FinovateSpring 2016 Sneak Peek

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

CLIMe—CardLinx Listing Information Monitor eCenter—provides an online platform for merchants and card-linked technology partners to make their offers available to digital publishers and card issuers.

Features:

First industry card-linking offers platform
Offers searchable by company, type and locatin
Accessible by all CardLinx members

Why it’s great
The card-linking industry has a network effect, and with CLIMe as a collaboration tool that brings more offers to consumers, it will attract even more companies to the card-linking ecosystem.

Presenter: Silvio Tavares, President and Founding CEO Formerly an executive at VISA and First Data as well as an engineer who patented key payments analytic technologies, Tavares leads CardLinx and is a frequent speaker at industry and media events.
LinkedIn

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FinovateSpring Sneak Peek: Polly Portfolio

By David Penn Posted on April 21, 2016
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Polly Portfolio

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

Polly Portfolio provides technology for wealth and asset managers that empowers financial advisers and clients to utilize investment research exactly how they want.

Features:

Transform investment research from static and prescriptive to interactive and conversational
Incorporate client opinions into dynamic investment models
Experience low friction/high frequency digital interactions

Why it’s great
Polly Portfolio is passionate about making world-class investment research more accessible and more useful through interactivity.

Presenter: Jasen Yang, CEO and Founder Yang is a 16-year finance vet, last as a partner at a $13 billion alternative asset management firm. He left an MD/PhD in computational neuroscience to design financial products and wants to make up for that.
LinkedIn

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FinovateSpring Sneak Peek: Race Data

By David Penn Posted on April 21, 2016
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, RaceData

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

Race Data’s Relationship Accelerator is a scalable, comprehensive, data-driven marketing platform built on a consortium foundation that makes the power of customer analytics accessible for small banks.

Features:

Proprietary data-hub enables robust analytics on combined data
Standardized, event-driven marketing programs can be effectively optimized
Outputs drive each client’s unique branding, content, and offer

Why it’s great
Race Data’s Relationship Accelerator delivers big-bank customer-analytics on a small-bank budget, building relationshipos by turning data into knowledge that drive timely and relevant engagements.

Presenters
Jeff Helm, Director – Account Services, Race Data
LinkedIn

Jeff Deppen, CIO, Orrstown Bank
LinkedIn

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FinovateSpring Sneak Peek: Obloco

By David Penn Posted on April 21, 2016
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Obloco

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

Obloco Expense Reporting is a white-label, FI-branded expense-reporting solution, tailor-made for small businesses and available to business banking members within their online banking.

Features:

Simple expense reporting tailor-made for small businesses
Centralized experience to a place they already know and trust: online banking
White-label solution; re-engaging members with the FI

Why it’s great
Obloco Expense Reporting benefits both the member and the FI by solving a real pain-point for small businesses while re-engaging bank and credit union members with their institution.

Presenters

Victor Yefremov, CEO
LinkedIn

Sam Fleming, CTO
LinkedIn

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FinovateSpring Sneak Peek: Quid

By David Penn Posted on April 21, 2016
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Quid

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

Quid is radically changing how you interact with information, turning a simple search into a profound, visual exploration of your data.

Features:

Users have access to integrated global data sources
Users can visualize and explore any textual data stream to gain insights
Users can upload and visualize custom data

Presenters

Lowell Doppelt, VP of Sales
Doppelt brings a decade of strategic decision-making expertise to Quid from both the public and private sectors. Before Quid, he served financial services clients at McKinsey & Co.
LinkedIn

Sarah Pilewski, Principal
Pilewski is an early member of the Quid team, and principal of Quid’s Financial Services practice. Prior to Quid, she worked in private equity and strategy consulting.
LinkedIn

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Cachet Financial Solutions to Power Mobile Account Opening for PAYTOO

By Julie Muhn (@julieschicktanz) Posted on April 21, 2016
Categories: Cachet Financial Solutions

New clients of mobile wallet service PAYTOO can save tedious mobile keystrokes for their next text message, thanks to a new partnership with SaaS mobile-banking-technology provider Cachet Financial Solutions. This week, the Minnesota-based company announced that PAYTOO has selected Cachet to power mobile account opening for its mobile wallet solution.

Cachet’s Select Mobile Money will enable PAYTOO clients to open an account by using the camera on their smartphone or the ID scanner on a PAYTOO kiosk to take a picture of their state ID. Cachet uses the image to verify the user’s identity and prefill application-form fields, which helps reduce abandonment.

Cachet debuted Select Mobile Money at FinovateFall 2014, showing how its prepaid card offerings power a full suite of mobile financial services, including expedited bill pay, card-to-card transfer, remittance, and mobile deposit.

Last year, Cachet integrated Select Mobile Money with Apple Pay, allowing consumers to add a prepaid card to their Apple Wallet. In February, the company appointed Bryan Meier as its new CFO.

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