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NAMU Brings Intelligent Behavior Modeling to Mobile Banking

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, NAMU Systems

This post is part of our live coverage of FinovateSpring 2015.

NAMU is on stage now. The company’s “social spending behavior algorithm” helps FI’s better engage their customers.

NAMU delivers a new standard in mobile banking by implementing new and intelligent behavior modeling, which focuses on customer behavior and digital experiences. All of this is based on a patent-pending “social spending behavior algorithm.” The product highlights include: highly visual user experience, Google-like search through the customer’s entire transaction history and across all banking products, new data organization, contextual, personal, and relevant permission-based advertising of targeted offers, promotion, and loyalty services to consumers as well as a virtual personal branch. For each bank, NAMU connects easily to many complex banking systems with a centralized API and data-centric architecture.

Presenters: Thomas Ko, co-founder and president, and Piotr Budzinski, co-founder and CEO

Product Launch: November 2014

Metrics: Early start-up phase, raised $200,00 from two angel investors; 10 employees
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms

HQ: Mahwah, New Jersey
Founded: February 2014
Website: namuapp.com
Twitter: @namuapp

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ACH-based Payments Innovator Knox Payments Presents Knox Asssured and Knox Verified

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, Knox

This post is part of our live coverage of FinovateSpring 2015.

Knox Payments, an ACH-based payments company, is introducing two new innovations: Knox Assured and Knox Verified.

Knox Payments is a payments and security service that allows merchants to conduct ACH payments. These are transactions wherein customers can pay directly to merchants using their bank accounts. What differentiates the service from its competitors is its primary focus on speed. In addition, Knox Payments does not offer user accounts, and simply functions as a tool for fast online checkouts.

Presenters: Thomas Eide, CEO and founder, and Julius Gartner, director of business development

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: San Francisco, California
Website: knoxpayments.com
Twitter: @KnoxPayments

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Emailage Offers Instant Fraud Scores for Websites

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: Emailage, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Emailage debuted its browser-extension:

Emailage is focused on providing customers with multiple ways to access our toolset. Our new browser extensions allow customers to easily get a real-time fraud score from any webpage. Enabling these extensions allow customers to assess fraud risk scores from Chrome, Firefox, and Internet Explorer seamlessly. The Emailage browser-extension places an icon next to any email address on the page, which can be clicked for instant analysis of the risk associated with the email.

Emailage Presenters: Jennifer Coughenour, director of sales, and Amador Testa, chief product officer

Product distribution strategy: Direct to Business (B2B)

HQ: Chandler, Arizona
Founded: May 2012
Website: emailage.com
Twitter: @Emailage

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Persistent Systems Previews its Online Payment Technology, Buddy Pay

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, Persistent Systems

This post is part of our live coverage of FinovateSpring 2015.

Persistent Systems demoes its payments innovation, BuddyPay.

BuddyPay is essentially a switching mechanism for Payment made for purchases of goods and services from an online site. It’s a mechanism that allows another person/entity (payer) to pay for goods and services purchased by someone else (buyer). The payment is done on the online site (seller) in real time. The name was coined BuddyPay as it involves two persons, buyer and payer (father/son, two friends, etc.) who are very well know to each other, i.e. “buddies.”

Presenters: Shriram Natarajan, VP technology consulting, and Ray Bharadwaj, global head of financial services

Product Launch: June 2015

Metrics: One of the top-ten companies for investor relations in India, Thomson Reuters Extel Survey Awards; 8,500+ employees; 23% revenue CAGR for the last 5 years; geographies: United States, Canada, Europe, Asia Pacific, Australia
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Pune, MH, India
Founded: May 1990
Website: persistent.com
Twitter: @Persistentsys

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Malauzai Software Brings its Mobile-only Virtual Banking Experience to Community FIs

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, Malauzai Software

This post is part of our live coverage of FinovateSpring 2015.

Malauzai Software is here with its mobile-only virtual banking experience.

Malauzai has developed a mobile-only, virtual banking experience that makes banking fun, effortless, and completely branchless. With advanced features such as person-to-person payments, mobile account registration, picture bill pay, debit card on/off, and remote capture, end-users are able to leverage technology to bank anytime, anywhere, on any device.

Presenters: Robb Gaynor, CPO and co-founder, and Danny Piangerelli, CTO and co-founder

Product Launch: December 2014

Metrics: 280 live plus 330 signed customers, serving 500,000+ end users; more than 5 million logins a month; 60+ employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Austin, Texas
Founded: October 2009
Website: malauzai.com
Twitter: @malauzaimonkeys

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Corezoid Presents its Cloud Operating System for Building and Changing Business Processes

By David Penn Posted on May 13, 2015
Categories: Corezoid.com, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Corezoid is making its way to the stage now. The company is demonstrating its cloud-based platform to help FIs build better business processes.

Two classes of problems exist in software development:

Customer problems: it’s too long, it’s too expensive, lack of flexibility, high cost of updates, dependence on the developer, succession/inheritance
Developer problems: modern programming paradigm means programming with implicit selection of statuses resulting in a lot of inherent technical problems, it’s too long, succession/inheritance

Corezoid solves these problems by switching from writing the code to building the algorithm.

Presenters: Sergey Danylenko, chief marketing officer at Corezoid, and Antony Rogalskiy, chief marketing officer, PrivatBank

Product Launch: November 2013

Metrics: $1 million raised; 5,398 enterprises; 27, 193 conveyors; 21,223,940,118 operations
Product distribution strategy: direct to business (B2B), through financial institutions

HQ: Wilmington, Delaware
Founded: November 2013

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PsychSignal Delivers Real-time Stock Market Opinion from Social Media Sources

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, PsychSignal

This post is part of our live coverage of FinovateSpring 2015.

PsychSignal demonstrated its “natural language processing engine API” that provides investors with insights from a variety of social sources.

The Company’s Natural Language Processing Engine API delivers the public’s real-time opinions about stocks and other financial securities by categorizing and quantifying the millions of tweets and messages issued by Twitter, StockTwits, T3Live chat rooms, and other social media sources.

Presenters: CEO James Crane-Baker and CMO Bjorn Simundson

Product Launch: May 13, 2015

Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licenesed.

HQ: Miami, Florida
Website: psychsignal.com
Twitter: @psychsignal

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EyeBuy Debuts System to Monetize Television

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

EyeBuy launched its platform that enables consumers to instantly purchase what they see on TV:

EyeBuy is showcasing the ability to “see” logos, brands, people, products, etc. streaming across your TV/video screen and enable the viewer to instantly purchase or engage that item, on the spot, in near real-time, with a single click. Engagement options included capturing gift cards, card-linked offers, coupons, RFI, vouchers and purchasing.

Presenting Todd Coulter (CEO & Founder)

Product Launch: May 2015

Metrics: $150,000 raised; 4 employees
Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Rancho Murieta, California
Founded: December 2013
Website: eyebuytv.com
Twitter: @toddcoulter

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Mistral Mobile Launches m-Aegis Mobile Integrity, a Comprehensive Multi-Factor Authentication Solution

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, Mistral Mobile

This post is part of our live coverage of FinovateSpring 2015.

Mistral Mobile is demonstrating its multifactor authentication platform, m-Aegis.

m-Aegis is the only comprehensive, multifactor, telco-independent, authentication and security solution for mobile applications and OTP replacement. Mobile banking and payments are exploding: Juniper Research predicts there will be more than one billion mobile banking users worldwide by 2017. Simultaneously, the roadblocks to mobile payments are disappearing with solutions such as host-card emulation and secure-elements, clearing the way for sustained dramatic growth. However, with opportunity comes risks. With increased volumes, mobile-initiated transactions become lucrative targets for hacking and fraud. According to a study by RiskIQ, more than 11% of all Android banking applications are suspicious and potentially contain malware. Mistral Mobile’s m-Aegis Mobile Integrity provides a comprehensive solution combining multiple factors such as device fingerprinting, SIM validation and usage data to maximize the integrity and create a high-confidence, no-gap verification model without compromising user experience.

Presenters: CEO Ludwig Schulze and Paul Yoo, chief commercial officer

Product Launch: February 2015

Metrics: 15+ employees
Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Oulu, Finland and New York City, New York
Founded: June 2012
Website: mistralmobile.com
Twitter: @MistralMobile

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Bento’s Platform Helps Small Businesses Better Manage and Control Expenses

By David Penn Posted on May 13, 2015
Categories: Bento for Business, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

Bento‘s platform enables small businesses to take control of their expenses.

Bento’s first offering, the Bento MasterCard, is a prepaid commercial card solution built just for small businesses. Business owners can set rules by employee, amount, time and category before anyone can spend a dime. Bento cards bear the employee’s name and can be enabled and disabled in a second with just one click. Real-time dashboards enable business owners to see everything in one place and quickly track expenses by place, employee, project, category and more. Bento makes spend management and bookkeeping painless.

Presenters: Farhan Ahmad, CEO and founder, and Sean Anderson, chief product officer and founder

Product Launch: March 2015

Metrics: Raised a seed round of $2.5 million from VCs and private investors; 8 employees and growing
Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: San Francisco, California
Founded: January 2014
Website: bentoforbusiness.com
Twitter: @bentoforbiz

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RAGE Frameworks Presents LiveCredit, Enabling FIs to Build Their Own Innovations

By David Penn Posted on May 13, 2015
Categories: FinovateSpring 2015, RAGE

This post is part of our live coverage of FinovateSpring 2015.

RAGE Frameworks‘ LiveCredit solution enables FIs to build a variety of financing products.

RAGE LiveCredit is a flexible, scalable origination and servicing solution that can enable the design and launch of any financing product end-to-end from ordination and underwriting, to booking and servicing. LiveCredit is designed to enable a financial institution to implement its creative ideas and needs in terms of new products, new underwriting rules including dynamic pricing, compliance rules, and accounting, in near real-time fashion. LiveCredit enables this configurability through a dynamic and flexible Product Configurator, which rapidly facilitates the configuration of the entire lifecycle related to a product without any need for programming.

Presenters: Aashish Mehta, SVP, banking solutions, and Nick Adams, VP, banking solutions

Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Dedham, Massachusetts
Founded: 2007
Website: rageframeworks.com

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CBW Bank Launches ONE Card, Developed by Yantra

By Julie Muhn (@julieschicktanz) Posted on May 13, 2015
Categories: CBW Bank, FinovateSpring 2015

This post is part of our live coverage of FinovateSpring 2015.

CBW Bank debuts a new payment tool, the ONE Card:

CBW Bank recently launched a new payment tool, ONE Card, to provide its customers access to a safe and convenient alternative to traditional bank accounts. Developed by Yantra Financial Technologies, the solution gives banks, program34 managers, and corporate clients access to a powerful and flexible platform, designed to support a wide range of product categories. including direct deposit, money transfers, and payroll. ONE Card account holders have access to all of the features and functionality of a traditional bank account. However, one key differentiator is that ONE Card does not require a credit check for approval, and users are able to send money to anyone in the United States, and soon internationally.

Presenters: Suresh Ramamurthi, chairman, and Randy San Nicolas, head of payments

HQ: Weir, Kansas

Founded: CBW Bank was founded in 1892, and acquired by its current owners in 2009

Website: cbwbank.com

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