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Finovate Alumni News

By David Penn Posted on August 2, 2016
Categories: Avoka, Check Point, Clinc, Consdata, CR2, Cyberfend, Envestnet, Moonraft Innovation Labs, P2BInvestor, Ping Identity, Token, TransferWise, Trulioo, Yodlee

On Finovate.com

Envestnet | Yodlee Forges Strategic Partnership with United Capital Ping Identity Acquires UnboundID Finovate Debuts: Cyberfend’s BotFender Detects Attacks in Real-Time Check out today's FinovateFall Sneak Peeks: Clinc Moonraft Innovation Labs Avoka Consdata

Around the web

TransferWise partners with Raphaels Bank as part of Faster Payments Service integration. Token opens new London office. Trulioo earns top honors for ID verification in 2016 Global RegTech report. Check Point Introduces First Real-Time Zero-Day Protection for Web Browsers P2Binvestor Delivers Biggest Line of Credit Yet at $10 Million CR2 teams up with Diamond Bank to bring next-generation ATM technology to Nigeria.

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.

PTIN Gives Members Access to BizFi’s Aggregation Marketplace

By David Penn Posted on August 1, 2016
Categories: Bizfi

BizFi will provide tax professionals with access to its aggregation marketplace courtesy of a new partnership with the National Directory of Registered Tax Return Preparers and Professionals (PTIN).

PTIN President Michael Rosedale emphasized his organization's commitment to supporting its members through innovative technology and resources. "Bizfi's technology and expertise, and its more than 10 years of experience providing financing options to small businesses, will equip PTIN members and their clients with the tool to quickly find the right funding to meet their needs," Rosedale said.

Left to right: Walt Levengood, chief strategy officer, and Stephen Sheinbaum, founder, demonstrated the Bizfi platform at FinovateFall 2015.

Bizfi founder Stephen Sheinbaum explained that since accountants and CPAs are often "the first people small business owners turn to when they need financial guidance," they are often a great place for first contact with the small business owner. "Traditional lenders can't always provide small business owners…

Ready for a Sneak Peek? How to Best Prepare for FinovateFall

By Julie Muhn (@julieschicktanz) Posted on August 1, 2016
Categories: Aleo, AutoGravity, Avoka, Backbase, Bankjoy, Bitbond, Bluescape, BondIT, brandCrowder, Clinc, Consdata, Currency Cloud, Daon, Divy, Dynamics, ebankIT, Econiq, Envestnet, Experian, EyeVerify, Featurespace, Finicity, FinovateFall 2016, Fiserv, Full Profile, FutureVault, GainX, GoodData, iBank Marketing, identitii, inSpirAVE, Kore, Lidya, Liferay, M1 Finance, MapD, MarketX, Modo Payments, Moonraft Innovation Labs, Moven, MX, nanoPay, Overbond, Personetics, ProActive FinTech, QE Data, Qumram, RightCapital, SaleMove, Sindeo, SpeechPro, Swych, Tango Card, TokBox, TransUnion, Trulioo, Trusona, Unbill, Uniken, Urban FT, Xentral Station, Zenmonics, Zooz

To give you a sense of the many new ideas at the upcoming FinovateFall conference in New York, we've launched our Sneak Peek series. Eight companies are featured each week leading up to the 8/9 September event (tickets now available).

In the meantime, here is a quick summary of the 66 announced companies (six more are in stealth mode). It's a lot to take in; pace yourself!

Agreement Express offers an an end-to-end platform that helps traditional financial institutions automate labor-intensive parts of the customer onboarding process to remain compliant while quickly opening customer accounts. Aleo's marketplace uses e-procurement, e-commerce and supplier financing bundled in a single open platform to offer small and medium enterprises an online procure-to-pay solution. AutoGravity's mobile-first digital marketplace helps digitally minded customers, looking to buy and finance a vehicle, circumvent the inefficiencies of the auto-financing process by leveraging the full potential of their smartphone. Avoka's customer-acquisition platform integrates multiple fintech services to…

Q2 Leverages MX Technology to Launch Contextual PFM

By David Penn Posted on August 1, 2016
Categories: MX, Q2

Q2 + MX = CPFM.

With the "always-on aggregation" and UX/UI of MX, the newly launched Contextual PFM from Q2 is designed to make actionable financial insights a part of every customer's mobile banking routine. "As account holders continue to make heavier use of the mobile channel and seek to optimize their financial lives," Q2 CTO Adam Anderson said. "Q2 Contextual PFM can give them the most accurate picture of where they stand and what actionable decisions they can make from any device."

Q2 Contextual PFM uses APIs from MX to provide account aggregation, transaction cleansing, and transaction organization, delivering a data-driven money-management solution to help customers spot, understand, and respond to trends in saving and spending. MX's data aggregation and innovative visualization technology provide accurate information in an engaging way that "makes it easy for people to manage their finances," according to MX founder and CEO Ryan Caldwell,…

Finovate Alumni News

By David Penn Posted on August 1, 2016
Categories: Bizfi, Coinbase, Compass Plus, EquityZen, HotDocs, iSignthis, Ixaris, MX, Q2, Top Image Systems, WorthFM, Xero

On Finovate.com

Q2 Leverages MX Technology to Launch Contextual PFM Ready for a Sneak Peek? How to Best Prepare for FinovateFall PTIN Gives Members Access to BizFi's Aggregation Marketplace

Around the web

iSignthis to verify ultimate beneficial owners (UBOs) for fellow Finovate alum, Ixaris. ABA Bank leverages TranzWare from Compass Plus to launch new Cash by Code service. Top Image Systems earns spot as sample vendor in Gartner Hype Cycle for Digital Banking Transformation 2016. Coinbase to extend its Bitcoin, ether services to both Canada and Singapore. The Economist reports how EquityZen is catching on. Philly.com features WorthFM. HotDocs partners with ComSys. PC Magazine labels Xero the fastest accounting-software innovator.

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.

Fintech Trending: Germany Grows, Pokemon Goes, PayPal Partners

By David Penn Posted on July 29, 2016
Categories: Dyme, Fintech Trending, MasterCard, Moven, PayPal, Polly Portfolio, Sberbank, SigFig, VISA

Today we unveil our fintech trends column, a look at trending topics of the past week or two, compiled by the Finovate research team.

Trending highest: Pokemon Go

Our inaugural post leads with the Pokemon Go phenomenon which has fintech innovators rethinking their strategies around not just mobile, but the power of gamification, location-based marketing, and the diversity of data, as well.

Sberbank (F16) was clever enough to offer free accident insurance for distraction-prone Pokemon Go players. But the Russian-based bank has bigger plans to engage potential customers via the game, including bonuses for players who catch Pokemon in a Sberbank branch. Sberbank also plans to use lures to help drive traffic to its locations, an initiative already underway at CenterState Bank in Florida. Read our take on the technology, and its potential as a marketing tool for FIs.

It comes as no surprise that fintech's foremost…

Refundo Previews Mobile Tax Filing App Connect

By David Penn Posted on July 29, 2016
Categories: Refundo, Tax Prep

Coming soon to both Android and iOS, Connect from Refundo will make it easier for taxpayers to file returns with their tax preparers. The new mobile app is designed to help tax professionals reach more customers, as well as reduce wait times for in-office clients.

"The beauty of this mobile application is that it will be yours," Refundo Analytics, Growth and Product Hacker Jesse Arroyave wrote on the company blog. "Customize the app with your brand's color, your logo and a brief description of what you can do for taxpayers." Arroyave says mobile apps like Connect typically exceed 10 million downloads during tax season, and cautioned that too many smaller FIs were still missing out on the action.

"I'm just tired of small tax offices, who compete and work just as hard as bigger companies, not seeing the bigger picture," Arroyave said. "Here's an opportunity to compete and grab a…

Finovate Alumni News

By David Penn Posted on July 29, 2016
Categories: Entersekt, Experian, iQuantifi, Narrative Science, Refundo, Scalable Capital, True Potential

On Finovate.com

Refundo Previews Mobile Tax Filing App Connect

Around the web

Entersekt to bring its 2FA technology, Transakt, to Nigeria via partnership with First Authentication Services Ltd (FASL). Inc.com features Stuart Frankel of Narrative Science on the "keys to startup success." Experian launches anti-fraud platform, CrossCore, in South Africa. True Potential opens up its portfolios to all U.K. advisers. Scalable Capital goes live in the U.K. Corporate Insight features iQuantifi in a look at best practices in goal-setting apps.

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.

France’s Groupe BPCE Acquires Munich-based Fidor Bank

By David Penn Posted on July 28, 2016
Categories: Fidor Bank, Mergers & Acquisitions

Digital banking pioneer Fidor Bank has been acquired by Groupe BPCE of France; terms were not disclosed. Fidor Bank founder and CEO Matthias Kröner will remain with the company.

Quoted in the Financial Times, BPCE chairman François Perol said the acquisition "demonstrates our commitment to innovation, to developing a customer-centric approach enabled by digital banking technology, and to be more involved in the digital and mobile banking field." Kröner, whose bank expanded to the U.K. last fall, added that the acquisition will accelerate Fidor's international expansion "and drive the development of our innovative digital technology even further."

Fidor Bank Chief Innovation Officer Patrick Gruban during his presentation at FinDEVr 2016 New York.

Munich-based Fidor Bank was founded in 2009, and has 350,000 members and 120,000 customers in Germany and the U.K. The bank garnered a reputation for leadership in digital banking, partnering with Currency Cloud last fall to support SEPA Direct…

Savedroid Launches Intelligent Savings App

By David Penn Posted on July 28, 2016
Categories: Deposits, Checking, Savings, CDs, savedroid

Straight outta beta, savedroid's intelligent savings app is now available for free at Google Play.

"Saving has been a super boring and complicated subject," savedroid founder and CEO Dr Yassin Hankir said. "Many prefer to go to the dentist than to speak with a financial adviser. We change that. With savedroid, saving is finally integrated into the daily lives of users and is fully automated."

Savedroid enables users to set behavior-based rules called "smooves" that help steer a small amount of money toward savings for various goals. For example, set aside $1 for every cup of coffee you buy at your favorite cafe, or $5 every time you spend more than an hour on social media. The savings strategy works as well for short-term goals like a vacation a few months from now or longer-term goals like saving for college. Hankir added: "We make saving exciting, convenient and rewarding, and thus particularly…

FinovateFall Sneak Peek: Personetics

By David Penn Posted on July 28, 2016
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Personetics

A look at the companies demoing live to 1,500+ fintech professionals on September 8 & 9, 2016. Register today.

Using AI-powered predictive analytics, Personetics Anywhere enables financial institutions to deliver timely responses, insight, and advice over popular messaging and personal assistance platforms.

Personetics is:

AI-powered, self-learning, and packed with financial knowledge Highly secure and easily controlled by your financial institution Able to work across all messaging platforms

Why it's great
Personetics Anywhere allows financial institutions to quickly deploy a chatbot solution that can respond to customer requests and deliver smart, timely insight and advice in a conversational medium.

Presenter

David Sosna, CEO and Co-founder
Sosna is a 20-year fintech veteran. Personetics is his third startup following BI leader Gilon and Actimize, a leading provider of financial analytics acquired by NICE systems.
LinkedIn

FinovateFall Sneak Peek: Tango Card

By David Penn Posted on July 28, 2016
Categories: FinovateFall 2016, FinovateFall 2016 Sneak Peek, Tango Card

A look at the companies demoing live to 1,500+ fintech professionals on September 8 & 9, 2016. Register today.

Tango Card's RaaS API automates e-gift cards, digital prepaid rewards, and donations to power engagement programs and simplify payment disbursal.

Tango Card:

Integrates a digital reward catalog/program into your app/platform Drives engagement with instant reward-delivery Provides expert support by Tango Card team on all rewards

Why it's great
If you use rewards to drive engagement, Tango Card will make the process simpler for you and create more impact for each reward recipient.

Presenter

David Leeds, CEO
Leeds has solid experience starting, scaling, and managing large enterprise businesses. He was co-founder and SVP at FiberTower. He has built a culture of expertise and customer service at Tango Card.
LinkedIn