Blog - Page 776 of 1215

LendKey’s MarketPlace Creates Low-cost Lending Options

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

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

LendKey debuted its MarketPlace that creates and manages online lending programs for banks:

Leveraging LendKey’s experience in building real-time loan-origination systems, the LendKey MarketPlace will empower consumers to browse, customize, compare and complete the entire loan-shopping process via a single interface. This represents a dramatic step forward from current consumer-loan marketplaces which collect consumer information, and may provide some pricing information, but eventually transfer the borrower elsewhere to complete and submit the loan.

Presentrts: Vince Passione, CEO and founder, and Strati Papageorge, chief product officer

Product Launch: June 2015

Metrics: LendKey’s online lending platform is used by over 300 credit unions and banks and has raised more than $750M in funding for loans to more than 35,000 borrowers. Our success to-date is due in great part to some key partnerships, including CUNA Strategic Services and Western Independent Bankers (as an endorsed service provider); numerous state credit-union leagues and bank associations, and consumer financial service providers like Intuit (Mint.com) and Credit Karma. LendKey raised $23.5M in equity from backers, including Draper Fisher Jurvetson, Updata Partners, and DFJ Gotham Ventures. We have more than 100 full time employees split between our New York City headquarters and an office in Cincinnati, Ohio.
Product distribution strategy: Direct to Consumer (B2C); Direct to Business (B2B)

HQ: New York City, New York
Founded: October 2007
Website: lendkey.com
Twitter: @LendKey

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Context Relevant Introduces its Advanced Analytics Platform for Financial Services and Security

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

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

Context Relevant is the company that helps FIs handle big data in real-time.

Context Relevant’s automated, predictive analytics technology is the only system with sufficient scale to automate, compute, and analyze petabytes of structured and unstructured data in real-time, incorporating findings back into its modeling process automatically. These adaptive learning systems’ ability to make sense of seemingly unrelated data, at scale and real-time, is redefining industries from finance to aeronautics.

Presenters: Divanny Lamas, standing, VP of product management; Konstanin Getmanchuk, financial products

Metrics: Context Relevant employs more than 65 people across three offices located in Seattle, New York City and Palo Alto and expects to double its size in 2025. The company raised over $42M in a Series B-1 round in Q3 2014.

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

HQ: Seattle, Washington
Founded: January 2012
Website: contextrelevant.com
Twitter: @contextrelevant

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Shoeboxed Receipt Capture Moves Beyond Paper Receipts

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

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

Shoeboxed showed its expansion into email receipts:

Receipt capture is becoming a standard banking feature: Taking pictures of receipts with a mobile phone that are then matched to the corresponding credit card transaction was just the beginning. We are expanding into pulling email receipts into online and mobile banking apps for people automatically, extracting the actual items people bought from e-receipts, and helping fraud protection.

Presenters: Tobi Walter, COO and co-founder, and Alex Anderson, business development manager

Product distribution strategy: Through financial institutions

HQ: Durham, North Carolina
Founded: May 2007
Website: shoeboxed.com
Twitter: @Shoeboxed

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DriveWealth’s Brokerage as a Service Platform Brings U.S. Markets to Global Investors

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

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

DriveWealth demonstrated its “Brokerage as a Service” platform:

DriveWealth’s innovation is to offer “Brokerage as a Service.” By way of our full-technology stack and regulatory licenses, financial companies that currently offer investing in their local markets (i.e., India, China, Latin America, United States) can now offer their clients the ability to trade U.S. stocks in a low-cost, friction-free environment. We present to these partners embeddable HTML5 “widgets” for account opening, funding, compliance document upload and trading. Partners can use these multilingual plug/play widgets as well as industry standard APIs (RESTful and FIX) to easily add U.S. stocks to their offering. We take care of all the “hard stuff” including trade execution, regulatory compliance, safety of funds, and clearing of trades.

Presenters: Michael Fitzgerald, head of corporate strategy, and Aric Rosenbaum, chief technology officer

Product Launch: April 2015

Metrics: 25-30 employees; $10M raised to date; 40,000+ registered users/customers
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Chatham, New Jersey
Founded: May 2012
Website: drivewealth.com
Twitter: @drivewealth

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Moven Drives Savings and Short-term Credit Using User Behavior

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

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

Moven showcased how it uses customer behavior to incentivize savings and short-term credit:

Moven is building real-time contextualized notifications and interactions that create gamified money moments. Today’s demonstration will debut a behaviorally based approach to driving savings and short-term credit. In addition Moven, in partnership with Accenture, will announce a number of additional global banking partners.

Presenters: CEO Brett King and Alexander Sion, Moven President

Product Launch: June 2015

Metrics: $12.5M raised in 2 rounds (Seed/A); 34 employees in New York City and Philadelphia; projected revenue of $5.5M (2015); 500,000 users in two countries (U.S.A./New Zealand)
Product distribution strategy: B2C in the U.S.; B2B2C internationally

HQ: New York City, New York
Founded: April 2011
Website: moven.com
Twitter: @getMoven

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itBit Debuts its Global Bitcoin Exchange

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

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

Kicking off Day Two at FinovateSpring 2015 is itBit debuting its bitcoin trading platform:

itBit offers an institutional-grade exchange that is available to traders around the world. Our innovative platform, created for retail and institutional clients, adheres to the strictest levels of regulatory compliance. The exchange supports both REST API and the Financial Information Exchange (FIX) protocols to serve sophisticated traders.

Presenters: Bobby Cho, director, institutional client group, and Dara Orlando, senior director of marketing

Product Launch: November 2013

Metrics: 32 employees; thousands of customers around the world use the exchange, from large financial institutions to major bitcoin merchant processors to individual enthusiasts; to date, the company has raised more than $30+ million in funding.

HQ: New York City, New York
Founded: 2012
Website: itbit.com
Twitter: @itbit

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Hedgeable’s Robo-advisor 2.0 Platform Automates Risk-managed Investing

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Hedgeable

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

Hedgeable presented its robo-advisor 2.0 platform.

Hedgeable’s robo-advisor 2.0 platform allows any investor with an IRA, rollover, taxable, trust, 401(k), or business account to manage a customized low-cost, risk-managed portfolio with as little as $5,000 in 5 minutes. Hedgeable is hugely disruptive because it brings an ultra-high-net-worth allocation to emerging affluent investors who are traditionally shut out from accessing sophisticated investing solutions.

Hedgeable’s platform is not your typical cookie-cutter robo-advisor. It includes dozens of automated stock and ETF portfolios featuring sophisticated features such as downside protection, tactical management, and access to alternative asset classes such as bitcoin, private equity, gold, and real estate. All portfolios are customizable using complex data science and 100+ proprietary investment technology systems created by Hedgeable’s team of world-renowned technologists.

Hedgeable’s investing platform is distributed direct-to-consumer online and also licensed to RIAs, planners, trusts, banks, and other partners around the globe.

Presenting CEO Michael Kane, master sensei, and Matthew Kane, co-founder and chief ninja

Product Launch: May 2015

Metrics: $1.85M raised to date
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, through other fintech companies and platforms, licensed

HQ: New York City, New York
Founded: April 2009
Website: hedgeable.com
Twitter: @hedgeable

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Dwolla Demos Bank-level Tokenization

By Julie Muhn (@julieschicktanz) Posted on May 12, 2015
Categories: Dwolla, FinovateSpring 2015

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

Dwolla showed how FiSync works with large financial institutions:

In this demo, attendees are getting an insider’s view into Dwolla’s real-time technology by witnessing some of the applications that have been built on the Dwolla platform. For example, Dwolla CEO, Ben Milne, will offer an overview of Dwolla’s unique approach to authentication and user discovery (through Dwolla’s directory technology) and walk through how these two features are currently being integrated into one of the world’s largest financial institutions and a growing number of application partners. The live bank-level tokenization model eliminates the threat of providing personal information (i.e. bank credentials or routing and account numbers) to a third-party or having to later tokenize the data downstream.

Presenters: Jordan Lampe, director of communications, and Chad Ballard, director, mobility and digital business technology, BBVA Compass

Metrics: $32.5M in funding; more than 70+ employees across 4 offices (San Francisco, DSM, Kansas City, New York City)
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Des Moines, Iowa
Founded: December 2008

Website: dwolla.com
Twitter: @dwolla

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With SayPay, Consumers Speak a Code to Pay Bills

By Julie Muhn (@julieschicktanz) Posted on May 12, 2015
Categories: FinovateSpring 2015, SayPay

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

SayPay announced a partnership with VoiceVault and introduced its bill pay and secure web sign-in:

When billers include a one-time “SayPay code” on their bills, customers simply speak the code into their mobile banking app without needing to sign in! SayPay biometrically authenticates the customer’s voice, matches the code to the bill, and displays the bill details. Upon review, the customer simply presses “Pay.” SayPay also works for ecommerce checkout, website sign in, P2P payments, step-up authentication, and more. The SayPay code is cryptographically calculated so it can’t be predicted, replicated, reused, or replayed. Further, SayPay uses out-of-band and three-factor authentication and never provides sensitive financial information.

Presenters: Steve Hoffman, CEO and founder; Julia Webb, technology consultant

Product Launch: May 2015

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

HQ: Pleasanton, California
Founded: February 2014
Website: saypaytechnologies.com
Twitter: @saypaytech

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Digital Insight Previews its Mobile Banking App with Beacons

By David Penn Posted on May 12, 2015
Categories: Digital Insight, FinovateSpring 2015

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

Digital Insight is demonstrating how it incorporated beacon technology into its mobile banking app.

Digital Insight is illustrating the use of beacons within its mobile banking app. Digital Insight is designing more personalized, relevant, and contextual experiences based on knowledge of a user’s location. Beacons are one way of using the context of location to better tailor a user’s experience in banking branches and give financial institutions additional data on their customers to engage with them more effectively and offer them the right products and services.

Presenters: Marshall Yuan, senior product manager; Ronald Yeung, engineering lead

Product Launch: Digital Insight has conducted a pilot with one financial institution. Based on what is learned from the pilot, Digital Insight will expand the availability to other financial institutions later in the year.

Metrics: Digital Insight has a customer base of approximately 900 financial institutions; end users number 12M online banking and nearly 4.8M mobile banking. Digital Insight was acquired by NCR (NYSE: NCR) in January 2014.
Product distribution strategy: Through financial institutions

HQ: Redwood City, California
Founded: July 1995
Website: digitalinsight.com
Twitter: @Digital_Insight

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Someone With Group Presents its White Label Crowdfunding Platform to Help Patient Pay Medical Bills

By David Penn Posted on May 12, 2015
Categories: FinovateSpring 2015, Someone With Group

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

Someone With Group is our next presenter with its platform that provides funding for patients needing help paying medical bills.

Someone With Group’s white-label crowdfunding platform provides a new source of funds for hospital-sponsored patients struggling to pay their medical bills. Using our online toolkit and live coaching, patients create fundraising campaigns and broadcast those campaigns via social media and email.

The Someone With Group solution verifies patients’ identities, is HIPAA- and banking-regulation compliant, and adheres to anti-money-laundering practices. Contributions are loaded onto a GPR MasterCard debit card. Spending is restricted to medical bills and medical supplies.

Presenters: Paula Jagemann-Bane, CEO and founder; Matt Pomrink, COO and president

Product Launch: January 2015

Metrics: Some With Group has raised over $3M from its founder, with modest friends-and-family support; first revenue, November 2014; 9 employees; 8 outsourced technologists.
Product distribution strategy: Direct to Business (B2B)

HQ: Frederick, Maryland
Founded: October 2013
Website: someonewithgroup.com
Twitter: @Some1WithGroup

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Kabbage Launches the Kabbage Card

By Julie Muhn (@julieschicktanz) Posted on May 12, 2015
Categories: FinovateSpring 2015, Kabbage

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

Kabbage showed how its Kabbage Card enables small businesses to carry a line of credit in their pocket.

Kabbage is introducing the Kabbage Card, the company’s first tangible product that allows small businesses to carry their Kabbage credit line in their pocket to pay for inventory, office supplies, and anything needed to keep a business running. Kabbage customers will gain immediate access to their Kabbage loan without having to transfer funds into their PayPal or business checking account. Swiping their Kabbage Card will immediately deduct the transaction amount from the customer’s available funds. In addition, customers will immediately have access to view all transactions within their Kabbage account, as well as receive transaction confirmation via SMS text. This new initiative is part of a broader “Kabbage Everywhere” product expansion that includes the ability to sign up through a mobile-responsive site, access funds through mobile devices, and take 12-month loans in addition to the traditional 6-month loans.

Presenters: Michelle Sirpak, director of payment operations; Jason Dell, head of product

Product Launch: May 2015

Metrics: Approximately 170 employees, $106M in equity raised
Product distribution strategy: Direct to Business (B2B)

HQ: Atlanta, Georgia
Founded: February 2009
Website: kabbage.com
Twitter: @kabbageinc

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