FinDEVr Preview: ScriptRock

FinDEVr Preview: ScriptRock
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr 2015, FinDEVr 2015 Preview, ScriptRock

FinDEVr2015LogoV2DateFinDEVr Previews highlight companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October. Pick up your ticket before Friday, 11 September, and save $100 on an early bird ticket!

ScriptRock provides complete visibility into the configuration state of any IT environment. Any stakeholder—from admin to dev-ops to CIO—can use this information to quickly ensure consistency and compliance, identify misconfigurations, and painlessly scan an entire IT infrastructure for potential vulnerabilities.

ScriptRockHomepage

Why it’s a must-see

In an era where IT security and stability are critical in finserv, having visibility and validating what you’ve got are key to success. Previously, this task was laborious, tedious, difficult, and sometimes impossible. We’ve built a platform which handles all of it with ease, allowing you to deploy faster and safer than ever before.

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FinDEVr Preview: Backbase

FinDEVr Preview: Backbase
By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, FinDEVr 2015, FinDEVr 2015 Preview

FinDEVr2015LogoV2DateFinDEVr Previews highlight the companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October. Pick up your ticket before Friday, 11 September and save $100 on an early-bird ticket!

Backbase will be talking about its Digital Banking Platform and its Open Banking Marketplace. Fueled by a strong open-API strategy, Backbase’s platform gives FIs the ultimate freedom and flexibility to work with any core or third-party vendor to create a best-of-breed digital banking offering for clients.

BackbaseHomepage

Why it’s a must-see

For banks: Get an open platform that is truly able to deliver a superior customer experience while providing the FI full control to manage and maintain. There’s no vendor lock-in.

For fintech companies: The option to work with many banks via the Open Banking Marketplace and making their services available within a robust platform.

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Trunomi Raises $3 Million to Solve KYC Challenges

Trunomi Raises $3 Million to Solve KYC Challenges
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Trunomi

TrunomiHomepage

Trunomi, a startup that uses consent-based data-sharing to streamline customer-verification for banks, announced a $3 million raise today.

Saturn Partners led the round. Fenway Summer, Persistent Ventures, and SenaHill Partners also participated. This lineup of investors also contributed to Trunomi’s $2.3 million Angel round in 2014, bringing its total funding to $5.3 million.

Trunomi, which launched about a year ago, plans to use the funds to progress its technology.

Here’s the company’s live debut of TruMobile at FinovateEurope this year:

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Finovate Alumni News

By David Penn Posted on
Categories: Advisor Software, Backbase, Deluxe, Forte Payment Systems, Hip Pocket, iSignthis, Kofax, Matchi, Praesidio, ScriptRock, TickSmith, Token, Trunomi, Xignite, Zopa

On Finovate.com

  • “Trunomi Raises $3 Million to Solve KYC Challenges”
  • Finovate Debuts: “Hip Pocket Generates Qualified Mortgage Leads While Boosting Engagement”

Around the web

  • Financial Times quotes Giles Andrews, Zopa executive chairman, in discussion on P2P providers and fee transparency.
  • Let’s Talk Payments talks with Stephane Dubois, CEO and founder of Xignite, on the importance of APIs in fintech. See Xignite at FinDEVr 2015 in San Francisco in October.
  • iSignthis to provide KYC services to Crownbet Pty starting in 2016.
  • TickSmith’s TickVault earns certification on Cloudera Enterprise.
  • KPMG and Matchi form alliance to enhance access to financial service innovation.

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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Mobile is Eating Banking

Mobile is Eating Banking
By Jim Bruene Posted on
Categories: Uncategorized

cellphone_vintage2Andreessen Horowitz’s Benedict Evans penned a compelling argument a few days ago about how the “mobile internet” is now the primary market to build services for. There are a couple good charts in the post, too, if you bring top management quickly up to speed:

Mobile is not a subset of the internet anymore, that you use only if you’re waiting for a coffee or don’t have a PC in front of you—it’s becoming the main way that people use the internet. It’s not mobile that’s limited to a certain set of locations and use cases, it’s the PC, that can only do the web and only be used sitting down. It’s time to invert that mental model; there is not the ‘mobile internet’ and the internet. Rather, if anything, it’s the internet and the ‘desktop internet.’

In banking, I think it’s even more true. The location-awareness of the mobile platform is crucial to boosting security while improving UX at the same time (think: no-login balance inquiry). The mobile camera is finally reducing (eliminating?) paper, both paper checks, statements and even, finally, receipts. Then there’s that little thing that Apple, Google, Starbucks and others would have us believe is better than sliced bread, integrated mobile payments.

If you were forced to choose a single consumer delivery platform going forward, be it branch, online/desktop, or mobile, clearly it should be mobile. Are your strategic plans in sync with this reality?

———-
Image: Cellphone inventor Martin Cooper on a DynaTac, the first commercial cellphone introduced in 1983 (Source: CNN)

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: InComm, Taulia, Tradeshift, Trulioo

Around the web

  • Tech Vibes features Trulioo in its look at fintech in Vancouver.
  • Taulia receives SAP-certified integration with the SAP NetWeaver technology platform.
  • Internet Retailer examines Tradeshift’s growth.
  • Mobile Payments Today: InComm’s drive to bring open-loop prepaid to mobile wallets.

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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Fintech Fundings: 18 Companies Raise $160 Million Week Ending 4 Sep 2015

Fintech Fundings: 18 Companies Raise $160 Million Week Ending 4 Sep 2015
By Jim Bruene Posted on
Categories: Funding

money_123rfAfter a slow start, fundings picked up and finished the week at $160 million raised by 18 fintech companies. That compares to the blistering (and unsustainable) weekly pace of 20 fundings and $575 million in August. Last year during the first week of September 2o companies raised $275 million.

Last week’s total disclosed amount raised was $158.3 million, of which $17 million was known to be debt. Three companies did not disclose funding amounts.

——-

Unicorn hunting
I completely agree that the term “unicorn” is overused, but it’s still an easy way to communicate an important valuation hurdle. Last week, The New York Times published an article, sourced from CB Insights, predicting the next 50 unicorns. It comes as no surprise that eight (17%) were fintech companies, including four Finovate alums (Betterment, Coinbase, Wealthfront, ZenPayroll) and four others (Avant, Collective Health, Raise, and Zuora). We’ll update our near-unicorn list (published 22 July) to include ZenPayroll, Collective Health and Raise.

——–

Here are the fundings from 29 Aug to 4 Sep 2015 by size:

Prospa
Australian alt-lender to small businesses
HQ: Sydney, Australia
Latest round: $60 million Series B
Total raised: $60+ million
Tags: Lending, loans, commercial, underwriting, online, SMB
Source: Crunchbase

Shift Payments
Debit card with universal currency access
HQ: San Francisco, California
Latest round: $50 million
Total raised: $50.1 million
Tags: Payments, digital currency, loyalty points, prepaid cards, debit, Y Combinator, Dwolla (partner)
Source: FT Partners

Remitly
Mobile remittance service
HQ: Seattle, Washington
Latest round: $12 million Debt
Total raised: $35 million ($23 million equity; $12 million debt)
Tags: Payments, remittances, P2P payments, mobile, Silicone Valley Bank (lender)
Source: GeekWire

InVenture
Mobile loan underwriting for the unbanked
HQ: Santa Monica, California
Latest round: $10 million
Total raised: $11.2 million
Tags: Lending, credit, consumer, loans, underwriting, unbanked, underbanked
Source: FT Partners

QuanTemplate
Data analytics for the insurance industry
HQ: London, England, United Kingdom
Latest round: $8.0 million
Total raised: $8.0 million
Tags: Insurance, reinsurance, analytics, big data, BI
Source: FT Partners

Electronic Payments
Payment processing
HQ: Calverton, New York
Latest round: $5 million Debt
Total raised: Unknown
Tags: Payments, acquiring, cards, POS, point-of-sale
Source: FT Partners

Quovo
Portfolio analytics and management tools
HQ: New York City, New York
Latest round: $4.8 million
Total raised: $6.2 million
Tags: Investing, trading, wealth management, analytics
Source: FT Partners

Questis
Financial coaching as an employee benefit
HQ: Charleston, South Carolina
Latest round: $2 million Seed
Total raised: $2 million
Tags: Personal financial management, advice, PFM, retirement planning, employee benefits, insurance
Source: WhoGotFunded

Bux
Easy mobile trading for consumers
HQ: Amsterdam, Netherlands
Latest round: $1.9 million
Total raised: $1.9 million
Tags: Investing, gamification, stocks, share trading, mobile, Ayondo (partner)
Source: Crunchbase

MoneyBrilliant
Money management geared towards women
HQ: Darlinghurst, Australia
Latest round: $1.5 million
Total raised: $1.5 million
Tags: Consumer, PFM, personal, financial management, budgeting
Source: Crunchbase

Paymium
Bitcoin exchange
HQ: Paris, France
Latest round: $1.1 million
Total raised: $1.1 million
Tags: Payments, cryptocurrency,
Source: WhoGotFunded

FattMerchant
Payment processor
HQ: Orlando, Florida
Latest round: $850,000
Total raised: Unknown
Tags: Acquiring, SMB, merchants, cards
Source: WhoGotFunded

Mobetize
Mobile wallet and point-of-sale
HQ: Reno, Nevada
Latest round: $750,000
Total raised: $2.1 million
Tags: Payments, mobile, mPOS, merchants, wallet, SMB, consumer
Source: FT Partners

Xendit
Mobile wallet
HQ: San Francisco, California
Latest round: $285,000
Total raised: $400,000
Tags: Payments, remittances, funds transfer, P2P payments, Y Combinator
Source: WhoGotFunded

Wirate
Equity crowdfunding platform
HQ: France
Latest round: $110,000
Total raised: Unknown
Tags: Investing, P2P, person-to-person, marketplace
Source: WhoGotFunded

Kash
ACH at the point-of-sale
HQ: Waterloo, Canada
Latest round: Undisclosed
Total raised: $2+ million
Tags: Payments, API, merchants, mobile, SMB, acquiring, ACH, developers
Source: FT Partners

Platform Black
P2P invoice and supply chain finance
HQ: Basingstoke, England, United Kingdom
Latest round: Undisclosed
Total raised: Unknown
Tags: SMB, financing, credit, factoring, accounts receivables, crowdfunding, peer-to-peer
Source: InsiderMedia

Verifacto
Connecting auto dealers, lenders, insurers and consumers
HQ: Norcross, Georgia
Latest round: Undisclosed Series A
Total raised: Unknown
Tags: Indirect lending, automobiles, car dealers, installment loans, insurance
Source: FT Partners

——
Graphic licensed from 123rf.com

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Banking Suite Provider Urban FT Acquires Wipit

Banking Suite Provider Urban FT Acquires Wipit
By Julie Muhn (@julieschicktanz) Posted on
Categories: Urban FT, Wipit

UrbanFTHomepage

Urban FT, a startup that offers card issuers a digital banking suite that includes cards, a mobile app, and web interface, wants to give small card issuers a leg up on the competition.

WipitHomepageToday, the company has taken a step in achieving that goal by acquiring digital wallet solutions company, Wipit.

Urban FT states that the Wipit acquisition will help provide a more comprehensive solution-set. The New York-based company is especially keen to tap into Wipit’s telco partnerships with Boost Mobile, Sprint, and Pinsight Media.

To leverage the Wipit team’s experience, Urban FT has hired the California-based company’s key employees.

Urban FT will present its latest offering at FinovateFall in New York in two weeks. Tickets are still available, but going fast.

Wipit last demoed at FinovateSpring 2014 in San Jose where it showed off its Boost Mobile Wallet.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: AnalytixInsight, Avalara, Clarify, Flint Mobile, FutureAdvisor, Klarna, Moven, Nous.net, ShopKeep POS, SnoopWall, Spreedly, StockViews, The Beast Apps, Trulioo, Urban FT, Wallaby Financial, Wipit, Xignite, Yodlee

On Finovate.com

  • “Banking Suite Provider Urban FT Acquires Wipit” Come see Urban FT at FinovateFall September 16 & 17.

Around the web

  • Niklas Adalberth steps down as Klarna’s deputy CEO.
  • ShopKeep to offer discounts to members of the MasterCard Easy Savings program.
  • Yodlee partners with Salesforce to offer advisers a comprehensive view of their clients’ financial accounts. Come see Yodlee’s presentation at FinDEVr, 6/7 October.
  • Monex to incorporate corporate-actions data from Markit. See Markit at FinDEVr 2015 in San Francisco.
  • Bank Innovation takes note of the Moven approach to displaying transaction histories.
  • Tech Vibes features Trulioo in a look at Vancouver, British Columbia, as a home for fintech innovation. See Trulioo at FinovateFall 2015 in New York.
  • Investment News looks for the next robo-adviser acquisition in the wake of BlackRock’s deal with FutureAdvisor.
  • Waters Technology highlights Nous, StockViews, AnalytixInsight, and Xignite in a review of how innovators are using market data. See Xignite at FinDEVr 2015 in San Francisco.
  • Flint enhances Android app to include immediate electronic receipts via SMS.

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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FinDEVr Preview: SnoopWall

FinDEVr Preview: SnoopWall
By David Penn Posted on
Categories: FinDEVr 2015 Preview, SnoopWall

FinDEVr2015LogoV2Date

FinDEVr Previews highlight the companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October.

FinDEVr is the premier event for fintech developers. To save your spot, visit our registration page today and take advantage of early-bird savings!

It’s the year of mCrime (mobile crime) and all banking apps can easily be eavesdropped by ‘trusted apps’ that are actually malware allowed on iTunes, Google Play, and Microsoft App store. SnoopWall will present a live demo of this ‘breaking into my own bank account’ on mobile using a malicious Flashlight App. Then, you’ll learn about AppSHIELD SDK.

SnoopWall_homepage_Sep2015

Why it’s a must-see
AppSHIELD SDK is the only solution to this problem that works. We’ll show how IBM Trusteer SDK; InAuth SDK; and Arxan are easily circumvented by cyber-criminals to steal consumer PII. If you see AppSHIELD SDK in action—now in 95+ financial institutions—you’ll want it in your banking app to protect your consumers and your brand.

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FinDEVr Preview: Spreedly

FinDEVr Preview: Spreedly
By David Penn Posted on
Categories: FinDEVr 2015 Preview, Spreedly

FinDEVr2015LogoV2Date

FinDEVr Previews highlight the companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October.

FinDEVr is the premier event for fintech developers. To save your spot, visit our registration page today and take advantage of early-bird savings!

Spreedly provides APIs that minimize the complexity, cost, and risk of PCI compliance and payment integration. With “The Uberization of Mobile,” customers want discovery, purchase, and delivery all handled within an app. It’s no longer necessary to redirect end-users to affiliate sites to complete a purchase with Spreedly’s universal vault product.

Spreedly_homepage_Sep2015

Why it’s a must-see
Tokenizing with one gateway removes the burden of PCI compliance, but locks that card into a single gateway. Building your own PCI-compliant vault is a huge undertaking. A card tokenized with Spreedly can be used multiple times against different gateways or API endpoints.

Check out more of today’s FinDEVr previews:

 

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FinDEVr Preview: Wallaby

FinDEVr Preview: Wallaby
By David Penn Posted on
Categories: FinDEVr 2015 Preview, Wallaby Financial

FinDEVr2015LogoV2Date

FinDEVr Previews highlight the companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October.

Wallaby’s Wallet-as-a-Service and CardBase APIs enable any developer to bring rich contextual information about credit cards and their attributes to life in their apps. You can see images, understand rewards, fees, features, and more. Integrate the APIs to provide smart-payment recommends in any checkout or financial process.

Wallaby_homepage_Sep2015new

Why it’s a must-see
Wallaby has the nation’s leading credit card information database with more than 2,700 credit cards profiled and classified in an intelligent, structured manner across more than 100 attributes. Simply put, there is no other way to get this data and bring your user’s wallet to life in your app.

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