Alumni News– January 6, 2015

By David Penn Posted on
Categories: Bluefin Payment Systems, CashStar, Fenergo, Fidor Bank, Global Debt Registry, Insuritas, Kreditech, Malauzai Software, Moven, P2BInvestor, PayPal, Personal Capital, Realty Mogul, Settle, TSYS
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAccounts Receivable Management takes a look at Global Debt Registry.
  • Moven launches budgeting app on Motorola Moto 360 and Samsung Gear smartwatches.
  • TSYS names Thomas Boyer president of TSS Merchant Solutions.
  • Paymentandbanking.com recognizes Kreditech as FinTech Startup of 2014.
  • St. Louis Biz Talk quotes Malauzai Software’s Robby Ganer in a column on what to expect from mobile banking this year.
  • Gift cards from CashStar to be integrated into eBay Marketplace and PayPal Digital Gift store.
  • Fidor Bank plans for U.S. launch with undisclosed local bank partner.
  • Silicon Republic profiles senior Java developer at Fenergo, Sheila Fernandez.
  • FinovateEurope early bird deadline extended through this Friday, January 9. Lock in your spot and we’ll see you in London.
  • Ukraine-based Settle launches restaurant pre-order app in San Francisco.
  • Personal Capital now manages $1+ billion in investments for clients. It tracks $120 billion for 700k registered users.
  • Northpointe Bank hires Insuritas to power its insurance agency.
  • P2Binvestor names Krista Morgan CEO.
  • Bluefin Payment Systems announces its PCI-validated, point-to-point encryption solution, PayConex, is now certified for mobile payments.
  • Jilliene Helman, founder and CEO of Realty Mogul, earns a spot on Forbes’ list of “30 Under 30 Rising Stars of Enterprise Technology.”
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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Finovate Alums Raise More than $2.2 Billion in 2014

Finovate Alums Raise More than $2.2 Billion in 2014
By David Penn Posted on
Categories: Funding, Fundings

ManwithMoney_clipart

Finovate alums raised more than $2.2 billion in financing in 2014.  More than three-quarters ($1.8 billion) was equity and a quarter ($400 million) was debt.  

The tally for 2014 shows that financiers continue to find fintech a worthwhile destination for their capital. After bringing in more than $825 million in 2013, Finovate alums increased their fundraising by more than 70% this year.

Here are a few highlights:

Most Raised in a Single Round: The biggest single raise of 2014 is best looked at three different ways. In terms of the best overall job of fundraising, Kabbage’s $270 million debt financing stands out. Lending Club’s $865 million IPO is tops in the “IPO Category” (with On Deck Capital’s $200 million IPO coming in second). Taking home top honors for best single venture round is Credit Karma ($85 million in March), with a $75 million raise from TradeShift and $70 million raise from Prosper close behind.

Biggest Quarter: The biggest quarter for fundraising was Q4, in which more than $1.4 billion was raised. The fourth quarter featured major fundings for Credit Karma ($75 million) and BlockChain ($30.5 million), as well as major IPO-related investments from Lending Club ($865 million), Yodlee ($75 million), Monitise ($77m), and On Deck ($200 million).

Biggest Month: The biggest non-IPO fundraising month was April, where more than $333 million was raised. The majority of the month’s fundraising gains came courtesy of the $270 million in debt financing secured by Kabbage. Including IPOs puts December at the top of the list, courtesy of the IPOs of Lending Club ($865 million) and On Deck.

Q1 – More than $233.4 million raised by eight companies

January

February

March

Q2 – More than $458 million raised by eight companies

April

May

June

  • None

Q3 – More than $194 million raised by 17 companies

July

August

September

Q4 – More than $1.4 billion raised by 26 companies

October

November

December

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Moven Goes Wearable with Motorola Moto 360 and Samsung Gear

By David Penn Posted on
Categories: Moven

Thumbnail image for Thumbnail image for MovenLogoNew.jpg

With the announcement that its PFM app will be available on Motorola’s Moto 360 and Samsung Gear smartwatches, Moven is showing just how affectionate fintech’s relationship with wearable technology can be.

As quoted in American Banker, Moven founder and CEO Brett King sees wearable technology as delivering the key real-time financial feedback that is critical in making financially-savvy behavioral changes. Focusing on specific spending decisions rather than psychology, King calls his solution “day-to-day gamification of financial wellness.”

Moven_homepage2.jpg
Moven’s app works differently from traditional PFM budgeting apps in some ways. Referred to as “anti-budget” in a review by VentureBeat, Moven’s technology includes a debit card and an app that tracks spending in real-time. Notifications and alerts are sent when spending nears or reaches pre-set levels. Monthly spending is also tracked by category.
What’s interesting about redesigning mobile apps for smart watches is the way it will sharpen the focus. What information will a consumer want at a glance at the wrist? Because the smaller form factor, developers will need creative ways to communicate PFM data as quickly as consumers can tell time.
Here’s a look at how Moven plans to do it:
Moven’s emphasis on notifications (King calls them “key to engagement”) is in sync with comments King has made previously about wearables and financial technology. In a roundtable discussion led by The Financial Brand’s Jim Marous, King pointed out that the device is just another channel. “I don’t think wearables per se is the key here,” he said. 
“The more important issue is understanding context and what data the customer needs to make a decision. Banks need a feedback or personal data strategy for customers independent of the device.”
Founded in 2011 and based in New York, Moven says it has “tens of thousands” of cardholders, with “hundreds of thousands” having downloaded the app. The company expects to have a total of more than 10 million users by the end of 2015.
Moven announced partnerships with TD Bank and Westpac New Zealand in the second half of 2014, as well as raising an additional $8 million in new funding, taking the company’s total to more than $12 million. Moven demoed its mobile banking technology at FinovateEurope 2013 in London, earning Best of Show honors.

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Capital One’s Well-Designed "Suspicious Activity" Email Alert

By Jim Bruene Posted on
Categories: Capital One, Email Samples, Security & Privacy

image I’ve used Capital One’s credit card fairly actively for the past 4 or 5 years. And they’ve rarely, if ever, declined a charge (and there has never been any fraud on the card). The last fraud message I can find in my email was in December 2011 (see last screenshot). But apparently our travel combined with extra holiday spending finally caused the banks’ fraud system to flag our account, rejecting a $100+ Target purchase a few days after Christmas.

I have Capital One’s mobile wallet installed which pushes near-real-time notifications to the lock screen (iOS). I did receive a notice I’d been declined, but no word on why or what to do about it. But luckily the issuer’s email system handled that task admirably. Within a few hours I received an excellent email detailing the five most recent charges, and providing a simple "all clear" button that was clickable within the email, a major improvement over issuers who merely tell you there is suspicious activity and make you call or login to find out the details.

___________________________

Analysis
___________________________

This is the best suspicious activity notice I’ve ever received. Typically, I receive message similar to Capital One’s "old" version imploring me to call the bank (see last screenshot). However, there is still room for improvement, especially in the reporting process.

As much as the fraud folks desire a concrete yes/no answer, the real world is often full of gray areas. In this case, I was sure that I’d make all these transactions, but often that’s not the case. Sometimes you don’t recognize a merchant or your spouse may have made the charge or you simply don’t recognize something you may have authorized a while ago. There needs to be a third option here, "I’m not sure." Furthermore, when faced with a list, users should be able to address each transaction individually.

In my case, clearly the Target purchase triggered the red flag. It was a large amount, I rarely shop there, and I’d just flown 2,000 miles from my previous transaction the day before. In reality, the other transactions were pretty meaningless to the fraud detection algorithm. Even if I couldn’t remember one of the previous four routine transactions, Capital One wouldn’t have wanted to shut my account down. They’d already lost a few dollars on the declined Target transaction, there was no reason to compound that loss with costly calls to customer service to vet the other transactions.

Finally, I’m not a fan of the web pages presented after clicking on the "Everything’s OK" or "There’s an issue" button (see second and third screenshots). The bank gets points for thanking me for my help, but they forget to apologize for the inconvenience of declining my purchase at Target. It’s pretty embarrassing to be standing at the checkout with a basket full of goods while everyone thinks you are a deadbeat.

The webpage responses don’t go very far it telling me what to do next. Even if I’d given the all clear, I still have questions. Which of the transactions, if any, were declined? Will the declined transaction go through now that I’ve said it’s OK? And how can I avoid this in the future.

And if I did have issues with one or more of the transactions, the only option is to call the bank, and there isn’t even a number supplied. Aren’t there self-service options at this point that could save everyone some time?

—————————–

Suspicious activity email from Capital One (28 Dec 2014)

image

 

Webpage after clicking "Everything’s OK" above

image

Webpage after clicking "There’s an issue" above

image

Previous Capital One Fraud Alert (16 Dec 2011)

image

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Ukraine-Based Settle Launches Restaurant Pre-Order App in San Francisco

By Julie Muhn (@julieschicktanz) Posted on
Categories: Settle

SettleLogo.jpg

Ukraine-based Settle aims to minimize the time consumers spend waiting in line for their food or beverage. Its mobile pre-order app enables customers to reserve a table at a restaurant, pre-order, and pre-pay, so that after the meal they walk away without waiting for the check.

Today the company announced that it is launching in San Francisco later this month.

SettleHomepage.jpg

Settle is working from its foundation in Kiev, Ukraine and Moscow, Russia. Since launching late last year, users have made 3,500 transactions at 20 restaurants.

We detailed the user experience for Settle customers and merchants last October in our Finovate Debuts series. Aside from a pre-order service for customers, Settle also offers a point of sale system for merchants, as well as a loyalty program to acquire and maintain their customer base.

To see a live demo of Settle, check out its FinovateFall 2014 video.

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Alumni News– January 5, 2015

By David Penn Posted on
Categories: Ayasdi, Braintree, Coinbase, Credit Karma, Entersekt, Global Debt Registry, NICE Systems, Sonavation, ThreatMetrix, Toshl
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCredit Karma to offer Equifax credit scores and reports.
  • American Banker profiles Global Debt Registry.
  • Silicon Valley Tech News interviews Ayasdi CEO Gurjeet Singh.
  • Central Florida Future features Toshl Finance in its look at smartphone apps.
  • Burning Man using Coinbase to accept Bitcoin donations.
  • In case you missed it while you were in Holiday Hibernation: A look back at the 28 Finovate and FinDEVr Best of Show winners of 2014.
  • NICE Systems releases voice biometrics-based Real-Time Fraud Prevention solution.
  • Airbnb, Boxed, Munchery and YPlan enable Braintree’s One Touch buying experience.
  • Authentity blog names ThreatMetrix and Entersekt as authentication companies to watch in 2015.
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: 3 Companies Raise $29 Million the Last Week of 2014

By Jim Bruene Posted on
Categories: Uncategorized

dollar_button.jpg

During the short week (three business days) closing out the year, just three fundings were announced, totaling about $30 million. The majority ($24 million) went to Finovate alum, Alkami Technology, to fuel growth of its digital banking platform offering.
Here are the three deals announced between 27 Dec and 31 Dec 2014: 

Alkami Technology
Digital banking technology
Latest round: $23.7 million
Total raised: $50 million
Tags: Online banking, mobile banking, Plano, Texas, Finovate alum
Source:FT Partners

PayClip (aka Clip)
Mexican payment company enabling POS purchases via smartphone
Latest round: $5.2 million
Total raised: $8.8 million
Tags: Payments, mobile, POS, merchants, acquiring, Mexico City, Mexico
Source: FT Partners

Arthena
Crowdfunding fine art investments
Latest round: Undisclosed
Total raised: Unknown
Tags: Crowdfunding, P2P, person-to-person, investing,
Source: FT Partners

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Holidays Promotions (or lack thereof) at Top-20 Banks

By Jim Bruene Posted on
Categories: Advertising & Promotion, Holiday promotions

For the past 10 years, I’ve done a year-end post looking at holiday promotions at the largest U.S. banks. And surprisingly, fewer banks than anytime since 2004 were running holiday messages in the days before Christmas. This year, only four of the 20 largest banks referenced the holidays on their homepages. That compares to nine banks last year, eight in 2012, and 10 in 2011.

I’m at a loss to explain the retreat. My guess is that holiday promotions simply don’t drive measurable sales lift. But these are massive retail banks and I’d think that virtual holiday decorations would be in the branding budget. Perhaps that, too, was tapped out by year end.

Here are the holiday participants this year:

As usual, PNC Bank led the pack with its three-decade-long holiday CPI (Christmas Present Index). Fifth Third and Comerica were reasonably decked out for the holidays. Finally, Citizens (RBS) had a small holiday message in the lower right (see screenshots below).

While we catalogued only the top 20, many other banks and credit unions displayed creative holiday promotions and/or messaging. For example, Navy Federal Credit Union featured several holiday messages on its homepage the day before Christmas Eve (see screenshot) and Huntington Bank used an eye-catching graphic to pitch its rewards card (screenshot below).

The scrooge list: top-20 banks with no holiday promotions or graphics on 24 Dec 2014:
Bank of America, Bank of the West (BNP Paribas), BB&T, BBVA Compass, Capital One & Capital One 360 (formerly ING Direct), Chase, Citibank, Harris Bank (BMO), HSBC, Key Bank, SunTrust, TD Bank, Union Bank (Mitsubishi UFJ), US Bank, Wells Fargo, Zions Bank.

Following is a quick overview of the promotions, including a 1- to 5-bulb rating.

Previous year-end holiday posts: 2013, 2012, 2011 (big banks), 2011 (CUs/community banks), 2009 part 1, 2009 part 2, 2007, 2006, 2006, 2004

_____________________________________________________________________

Top-20 banks in the holiday spirit
(rated from 1 to 5 bulbs; screenshots from Tuesday morning, 24 Dec 2014)

PNC Bank

  • Animated Great Carol Comeback tied to its annual 12 Days of Christmas CPI price index (which it has published for the past 30 years)
  • Visa tie-in for holiday spending (lower left)

Score: imageimageimageimageimage

Hompage: PNC is leading with its “12 days of Christmas” price index

image

Landing page: Each of the 12 items from the famous song have humorous animations (link)

image

—————————-

Fifth Third Bank

  • MasterCard Gift Card promo (#3 in 3-promo rotation)
  • Happy holiday greeting (#2 in 3-promo rotation)

Score: imageimageimageimage

Homepage promo #3

image

Homepage promo #2

image

——————————

Comerica

  • Gift card promo in lower-left of main homepage
  • Large gift card in main promo area on main personal page (#1 in 3-promo rotation) with engaging holiday graphics (same promo ran the last 2 years)

Score: imageimageimage

 

image

 

image

————————–

Citizens Bank (RBS)

  • Holiday tie-in for credit card cashback

Score: image

image

———————————

Bonus standout: Navy Federal Credit Union

  • Happy holiday message with snowman at top of page
  • Cash rewards credit card offer displayed mid-page with bright holiday colors
  • Holiday rewards reminder in lower right

Score: imageimageimageimage

image

—————————-

Bonus #2: Huntington Bank

  • Triple rewards credit card offer in mid-page with bright holiday colors

Score: imageimageimage

image

————————-

Notes:
1. Observations taken between 6:30 AM and 8 AM, Eastern Time, on Wed, 24 Dec 2014, from a Florida IP address, running Mac Chrome browser with cookies cleared.
2. Animation from
http://www.millan.net/anims/christmas.html#

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Fintech Fundings: 6 Companies Raise $21 Million Week Ending Dec. 26

By Jim Bruene Posted on
Categories: Funding

4264456_s.jpg

As expected with the holidays, just $21 million was invested in the fintech sector last week. It was the smallest week since we began tracking in August. The total included one Finovate alum, Bellevue, Washington-based Finsphere, which added nearly $2 million for its mobile identification technology.
The deals from 20 Dec to 26 Dec 2014, by order of size:

QwikCilver Solutions
Stored-value card technology
Latest round: $10 million
Total raised: $10 million
Tags: Credit & debit cards, prepaid, merchants, SMB, Bangalore, India
Source: Crunchbase

Aspiration
Investment management for middle-class consumers
Latest round: $4.5 million
Total raised: $4.5 million
Tags: Investings, robo-advisor, EFT; Los Angeles, California
Source: FT Partners

BitGold
Gold investing via digital currencies
Latest round: $3.5 million
Total raised: $3.5 million
Tags: Bitcoin, payments, cryptocurrency, investments; Toronto, Ontario, Canada
Source: Crunchbase

Finsphere
Mobile identify solutions
Latest round: $1.8 million
Total raised: $32.5 million
Tags: Security, mobile, authentication, identification; location, Bellevue, Washington, Finovate alum
Source: FT Partners

Finanzarel
Spanish working-capital financing marketplace
Latest round: $830,000
Total raised: $830,000
Tags: Alt-financing, working capital, factoring, P2P, person-to-person, investing, SMB; Barcelona, Spain
Source: Crunchbase

GoCoin
Merchant solutions for accepting digital currencies
Latest round: Undisclosed
Total raised: $2+ million
Tags: Bitcoin, payments, cryptocurrency, merchants, POS, acquiring; Singapore
Source: FT Partners

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Looking Back at the 28 Best of Show Winners of 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Best of Show

There’s no doubt 2014 has been a big year for fintech. The amount of venture capital funding, along with a handful of successful IPOs, have brought a spotlight to a once-dark space.

It has been a banner year at Finovate, as well. Over the course of our four conferences in 2014, we’ve seen:

    • 251 demos
    • 29 hours of demos
    • 28 “time’s up” gongs
    • 36 hours of high-intensity networking

Also, our 4,000+ attendees awarded 28 Best of Show awards to participating companies. Here’s a look back at the best of 2014:

 

FinovateEurope2014Banner.jpg

Held February 11 & 12 in London
FEU2014BoSWinners.jpg
  • Backbase, with its out-of-the-box tool for mobile account origination and enrollment
    demo video
  • BehavioSec, with its behavioral biometrics solution created specifically for a mobile environment
    demo video
  • Luxoft, for its iStockTrack, an app that gives users a single place to connect with their investment life
    demo video
  • Tink, for its mobile PFM that helps users stay connected with their finances
    demo video
  • Momentum (FKA YourWealth) for its MoneyHub technology that gives users total control of their entire financial life
    demo video

 

FS2014BannerLogo.jpg
Held April 29 & 30 in San Jose
FS14BosWinners.jpg
  • EyeVerify, for its Eyeprint Verification technology that enables mobile biometric authentication
    demo video
  • Loop, for its smart mobile wallet system accepted at virtually every retail POS terminal without making changes to the existing POS system
    demo video
  • Motif Investing, for its Advisor Platform that streamlines the way advisors build, monitor, and rebalance investment portfolios
    demo video
  • Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphones
    demo video
  • SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance
    demo video
  • Stockpile, for its “give the gift of stock” solution that helps people invest in the brands they love
    demo video

 

FinovateFallBannerLogo.jpg
Held September 23 & 24 in New York
FF14BoSWinners2.jpg
  • AnchorID, for its new way to log into websites and apps. One universal username logs you in with unique security.
    demo video
  • blooom, for its simple
    tool built to fix the millions of mis-invested 401(k) allocations for individual clients
    demo video
  • CrowdFlower, for its leading data-enrichment platform to help data scientists, analysts, and engineers collect, clean, and label data to make it useful
    demo video
  • Loyal3, for its use of social technologies to democratize the markets, making investing in IPOs and stocks easy and affordable for everyone
    demo video
  • MX (formerly MoneyDesktop), for its WideNet Technology to help FIs expand their market reach, and its Helios cross-platform digital banking app
    demo video
  • NICE Systems, for its real-time authentication that strengthens and streamlines the authentication process in real-time, while customers converse with an agent
    demo video
  • Toopher, for its multi-factor authentication platform that uses the location awareness of your smartphone to automate authentication for logins and critical actions
    demo video

 

FinDEVrBannerv2.jpg
Held September 30 & October 1 in San Francisco
FinDEVrBoSWinners2.jpg
  • Avoka, for its engagement platform that enables omni-channel account opening in 60 seconds
    demo video
  • BehavioSec, for its mature identification system that uses behaviour analytics to provide real-time security
    demo video
  • Yodlee, for its Interactive APIs that provide authorized access to real-time data for customer accounts
    demo video

Check out photos from FinDEVr San Francisco 2014 on Flickr

 

 

The Full History

Here’s the Best of Show history that spans back to the inception of Finovate in 2007:

Finovate 2007
Held October 2, 2007

Held April 29, 2008
  • First ROI (now BancVue), for its CheckingFinder services aimed at community financial institutions
    demo video
  • Jwaala, for its software solutions to help financial institutions compete
    demo video
Held October 14, 2008
  • Credit Karma, for its a free and easy way for consumers to understand, monitor and monetize their credit profile
    demo video
  • Neosaej (now closed), for its MoneyAisle platform where banks compete in live auctions for an individual consumer’s business
    demo video
Held April 28, 2009
  • BillShrink (now Truaxis), for its free cost-savings tool that saves consumers money on everyday bills
    demo video
  • Silver Tail Systems (acquired by EMC in October 2012), a predictive analytics to prevent fraud abuse
    demo video
  • SimpliFi (now closed), a web service that allows anyone to create and update their own financial plan
    demo video
Held September 29, 2009
  • Credit.com, for its free interactive tools, education, and unbiased comparisons of quality financial products and services
    demo video
  • Silver Tail Systems (acquired by EMC in October 2012), an online fraud-detection service
    demo video
  • Yodlee, for its personalized financial solutions for financial institutions
    demo video
Held May 11, 2010
  • oFlows (Purchased by Andera in 2011), a multichannel, paperless solutions for financial institution account opening
    demo video
Held October 4 & 5, 2010
  • oFlows (Purchased by Andera in 2011), a multichannel paperless solution for account openings
    demo video
Held February 1, 2011
Held May 10 & 11, 2011
  • BancVue, for its MoneyIsland financial education game aimed at community financial institutions
    demo video
  • BankOns, for its mobile app that offers consumers real-time savings at local merchants
    demo video
  • oFlows (Purchased by Andera in 2011), a multichannel, paperless solution for account opening
    demo video
Held September 20 & 21, 2011
  • FeeFighters (acquired by GroupOn in 2012), a platform that simplifies the process of choosing a merchant account provider
    demo video
  • Offermatic (closed in June 2013), a targeted online-offers provider
    demo video
  • oFlows (Purchased by Andera in 2011), a multichannel, paperless solution for account openings
    demo video
Held February 7, 2012
  • Nutmeg, an online investment manager that democratizes saving and investing
    demo video
Held May 8 & 9, 2012
  • BehavioSec, for its security layer based on user typing/swiping and other behavioral patterns
    demo video
  • Dwolla, for its FISync service to enable banks to originate real-time, P2P payments
    demo video
Held September 12 & 13, 2012
  • Credit Sesame, for its Financial Fitness Indicator that gives users a comprehensive view of their financial situation
    demo video
  • Dashlane, a password- and account-management platform that has instant login and checkout features
    demo video
  • Dynamics, for its Triple Interface card, allowing for tap, swipe, or EMV payments
    demo video
Held November 6, 2012
  • Finantix, for launching Sharp digital banking platform to improve sales and service interaction
    demo video
  • SocietyOne, for its ClearMatch technology used to streamline the loan-application process
    demo video
  • Ubank, for launching its peer-spending comparison tool, People like U, along with National Australian Bank (NAB)
    demo video
Held February 12 & 13, 2013
  • Meniga, for its PFM platform, including “buy” and “not buy” features
    demo video
  • Virtual Piggy (now Oink), for its kids’ payment system with parental controls
    demo video
Held May 14 & 15, 2013
  • LendUp, for its LendUp Ladder loan platform that helps the underbanked build credit
    demo video
  • TipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
    demo video
FinovateFall 2013
Held September 10 & 11, 2013
  • Motif, for its platform that lets you invest in ideas in one click
    demo video
  • TipRanks, for its solution that brings transparency to individual investors, helping them decide who to trust
    demo video
  • Yodlee, for its debut of TANDEM that helps groups manage and discuss shared finances
    demo video
Held November 14, 2013
  • IND Group, for its Essence mobile-banking app, with detailed financial management tools
    demo video
  • Kofax, for its omni-channel solution that accelerates and enhances the underwriting process
    demo video
  • Yodlee, for the international debut of TANDEM, an app that helps groups manage and discuss shared finances
    demo video
Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The companies with the highest percentage of submitted ballots were named Best of Show.
5. FinDEVr Award Winners were selected from presenters only on the second day.

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Fintech Fundings: 17 Companies Raise $510 Million Week Ending Dec. 19

By Jim Bruene Posted on
Categories: Funding

4264456_s.jpg

Last week was surprisingly busy given how close it was to the year-end holiday freeze. But two blockbuster deals, $250 million to Swedish payment company Adyen and $200 million raised in an IPO from Finovate alum OnDeck, made it one of the biggest weeks of the year.
In total, $512 million was raised by 17 fintech companies. Here there are in order of deal size (from Dec. 13 to Dec. 19):

Adyen
Multi-channel payments company
Latest round: $250 million
Total raised: $266 million
Tags: Payments, mobile, online, POS, merchants, Amsterdam, Netherlands
Source: Crunchbase

OnDeck
Online lending to small-and-medium businesses 
Latest round: $200 million (IPO)
Total raised: $610 million (of which $230 million is debt)
Tags: Lending, alt-lender, SMB, underwriting, New York City, Finovate alum
Source: Finovate

Money Forward
Japanese personal financial management services
Latest round: $12.6 million
Total raised: $17.6 million
Tags: PFM, money management, personal accounting, Tokyo, Japan
Source: Crunchbase

PeerNova
Blockchain technology
Latest round: $8.6 million
Total raised: $8.6 million
Tags: Blockchain, bitcoin, cryptocurrency, identification, trust, security, San Jose, California
Source: FT Partners

Zaio Corporation
Online real estate appraisals
Latest round: $8.2 million
Total raised: $13.5 million
Tags: Lending, mortgage, appraisal, compliance, Calgary, Alberta, Canada
Source: FT Partners

CardCash
Online giftcard exchange
Latest round: $6 million (debt from Sterling National Bank)
Total raised: $12 million (of which $6 million is debt)
Tags: Prepaid cards, gift cards, debit, Brick, New Jersey
Source: Crunchbase

InvestX
Private equity marketplace for retail investors
Latest round: $5.2 million
Total raised: $5.2 million
Tags: Investing, wealth management, private equity, Vancouver, British Columbia, Canada
Source: Crunchbase

FolioMetrix
Investment management and research
Latest round: $5 million
Total raised: $5 million
Tags: Investing, wealth management, analytics, Portland, Oregon
Source: Crunchbase

Lendable
Consumer loan marketplace
Latest round: $3.9 million
Total raised: $3.9 million
Tags: Lending, P2P, person-to-person, investing, London, UK
Source: Crunchbase

Prairie Cloudware
Mobile payment platform for financial institutions
Latest round: $3.2 million
Total raised: $4.9 million
Tags: Payments, mobile, digital, enterprise, Omaha, Nebraska
Source: Crunchbase

Triotech
Mobile money transfers

Latest round: $3 million
Total raised: $3 million
Tags: Mobile, funds transfer, payments, Gurgaon, India
Source: FT Partners

Hello Digit
Savings automation tools
Latest round: $2.5 million
Total raised: $2.5 million
Tags: Deposits, savings, PFM, retirement, San Francisco, California
Source: Crunchbase

Splitwise
Expense sharing software
Latest round: $1.4 million
Total raised: $1.4 million
Tags: Expense management, mobile, billing, payments, PFM, Providence, Rhode Island
Source: Crunchbase

Qapital
Mobile budgeting & spending tools
Latest round: $1.3 million
Total raised: $1.6 million
Tags: PFM, money management, online banking, mobile, alt-lender, SMB, underwriting, Stockholm, Sweden, Finovate alum
Source: Finovate

Blispay
Stealth payments company (we presume)
Latest round: $1.2 million
Total raised: $1.2 million
Tags: Payments, Forest Hill, Maryland
Source: Crunchbase

BlueFin Payment Systems 
Integrated payment platform
Latest round: Undisclosed
Total raised: Unknown
Tags: Mobile payments, merchants, SMB, Atlanta, Georgia, Finovate alum
Source: Crunchbase

FreeATM
ATM finder and advertising aggregator
Latest round: Unknown
Total raised: Unknown
Tags: Marketing, advertising, ATM, Brooklyn, New York
Source: FT Partners

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Continuity Control Taps Peter Rawlinson as Chief Marketing Officer

By David Penn Posted on
Categories: Continuity Control

Thumbnail image for ContinuityControlLogo2.jpg

A big hire for Continuity Control as the “compliance-as-a-service” company announced earlier this month that Peter Rawlinson would be taking the helm as Chief Marketing Officer.

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Rawlinson had previously been a marketing specialist for AppSense, serving as the company’s VP of Marketing for six years and as Chief Marketing Officer for another year and a half. Before AppSense, Rawlinson spent more than four years as VP of Product Management for OpenText.
Continuity Control specializes in making it easier for financial institutions to meet their regulatory and compliance requirements. The company refers to its technology as a “pre-programmed Universal Remote” that helps banks and credit unions organize and stay ahead of increased government oversight and combat rising compliance costs. Continuity Control’s solution automates the much of the compliance process to make sure the that everything from annual oversight to periodic review is on point.
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Continuity Control was founded in 2008 and is headquartered in New Haven, Connecticut. Andy Greenawalt is founder and CEO. In August the company announced raising $10 million in new funding. In June, Gartner named Continuity Control a “2014 Cool Vendor in Services” for its automated compliance management system for small banks and credit unions. 
Continuity Control demoed at FinovateSpring 2010.

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