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Lock in your seat to the largest FinovateFall to date!

By Eric Mattson Posted on July 9, 2014
Categories: Uncategorized

With summer well underway, it means that fall is just around to corner. And that we’re hard at work putting together FinovateFall 2014 which will take place on September 23 & 24 in New York City.

Last year, FinovateFall welcomed a sold-out crowd of more than 1,100 executives. This fall, based on record-setting interest (and a slightly bigger auditorium at our new venue) we are projecting the largest FinovateFall to date (and another sell out crowd) with over 1,200 fintech innovators in attendance.

In case you’re curious, here is a small sample of the great organizations already committed to attend:

Adobe
American Express
Bain Capital
Bank of America
Bank of Ireland
Bank of Montreal
Barclays
BBVA Compass
C1 Bank
Capital One
CIBC
Citi
Citi Ventures
Discover
Equifax
Everbank
Experian
FIS Global
Forbes

Gartner
IBM
Jack Henry
Liberty Mutual
MassMutual
MasterCard
MACU
New York Life
Nordea
Oliver Wyman
Paypal
Primerica
PwC
QED Investors
RBC
Rockland Trust
Route 66 Ventures
S&P Capital IQ
SAP

Saxo Bank
Sberbank VC
Scottrade
Silicon Valley Bank
SixThirty
Societe Generale
Sony
Swedbank
Tangerine Bank
TD Ameritrade
The Huffington Post
The Principal
Umpqua Bank
USAA
Venrock
Wells Fargo
Yankee Group
Zions Bank
And many more!

If you’re interested in attending FinovateFall to watch the future of fintech unfold live on stage, tickets are now on sale at the very early-bird price but only through this Friday. Please get yours today to lock in the savings and your seat before we sell out!

We’ll see you in New York in September (or in San Francisco for FinDEVr)!

FinovateFall 2014 is sponsored by: The Bancorp, CapitalSource, Financial Technology Partners, Greater St. Louis Financial Forum, Hudson Cook LLP, Life.SREDA, UK Trade & Investment, Visa

FinovateFall 2014 is partners with: Aite, ABA, Bank Innovators Council, BankersHub, Bobsguide, California Bankers Association, Canada, Celent, Filene Research Institute, Hotwire PR, Javelin Strategy, Mercator, NYPAY, Payment Week, The Paypers, SME Finance Forum, & Visible Banking

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LoopPay Receives Undisclosed Amount of Funding from Synchrony Financial

By David Penn Posted on July 9, 2014
Categories: Loop

Late last month, mobile payments platform company LoopPay released its ChargeCase, a battery case for iPhone 5 and 5s.

Now, two weeks later, the Massachusetts-based company has announced it received an undisclosed amount of funding from Synchrony Financial. This adds to the $10 million in Series A funding LoopPay raised last November from Beta Fund.

Under this strategic investment, LoopPay will provide Synchrony Financial with special features and benefits to provide greater convenience and utility to its cardholders and retail partners.

LoopPay uses Magnetic Secure Transmission (MST) to enable a contactless payment experience in which customers use LoopPay’s ChargeCase and Fob Button Pay devices to pay at a merchant’s existing credit card swipe reader.

To see LoopPay demonstrate its MST technology live, check out its FinovateSpring 2014 demo.

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Alumni News– July 9, 2014

By David Penn Posted on July 9, 2014
Categories: Andera, Check, Encap, Lendio, Prosper, Ripple

Bank Systems & Technology: Consumers CU Expands National Footprint with Andera’s Online Account Opening Solution.

Lendio launches free version of prospect mgmt software, Pipeline, for the business loan process.

Encap Security joins the Fast Identity Online (FIDO) Alliance to change the nature of online authentication by reducing reliance on passwords.

Check updates its Android app.

LendAcademy takes a look at $146 million in new loan originations in June for Prosper.

And speaking of Prosper, Altifi.con’s This Week in Crowdfunding features Prosper CEO Ron Suber.

Rebranded version of Ripple Client, Ripple Trade emerges from two-month soft launch.

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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Alumni News– July 8, 2014

By Julie Muhn (@julieschicktanz) Posted on July 8, 2014
Categories: ACI Worldwide, Insuritas, Lending Club, P2BInvestor, Prestadero, ReadyForZero, StrategyCorps, Top Image Systems

Top Image Systems signs agreement to acquire cloud-based banking solutions provider, EGistics.

Prestadero raises more than $670K in series B funding round.

ACI Worldwide to bring electronic billpay to Southern Auto Finance Company (SAFCo).

P2Binvestor crowdlends $2 million line of credit to fellow Finovate alum.

Mike Branton of StrategyCorps discusses the “three big threes of checking” in CB Insight.

Lending Club facilitates $1 billion of loans in Q2 2014, which brings it to a total of $5 billion since its inception.

ReadyForZero announces two new resource centers: Get Out of Debt and Auto Loan Resources.

First American Credit Union hires Insuritas to launch insurance agency to build non-cyclical fee income.

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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Prestadero Raises More than $670K in Series B Funding Round

By Julie Muhn (@julieschicktanz) Posted on July 7, 2014
Categories: Prestadero

A week after we published our quarterly alumni funding roundup for Q2 2014, it looks like Q3 is already off to a nice start on the funding front.

At the beginning of the month we shared news of Moven’s $8 million funding. And the strides Yodlee is making toward an IPO sooner than later made headlines soon after.

And now today we can add Prestadero to the list of Finovate alums that find themselves in a money-raising mood. The peer-to-peer lender finished its second round of funding by raising $677,000 (8.8 million Mexican pesos).

The investment more than doubles the company’s previous total of $400,000 – raised almost a year ago to the week – taking Prestadero’s total capital to more than $1.7 million (more than 13.8 million Mexican pesos).

Specific investors in this round were not disclosed, but the company referred to the contributors in a statement as “international leaders in the financial services sector in Mexico and abroad.”

Prestadero will use the additional capital to add new functionality to its platform, and to accelerate growth.

Stats:

Founded in 2011
Headquartered in Mexico City, Mexico
Provides unsecured personal loans ranging from 10,000 to 250,000 Mexican pesos
Offers approved borrowers rates ranging from 8.9% to 28.9% annually
Offered lenders net annualized returns of 15%

Gerardo Obregón is CEO.

Prestadero demoed its technology at FinovateSpring 2013 in San Francisco. See a video of the company on stage here.

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Alumni News– July 7, 2014

By Julie Muhn (@julieschicktanz) Posted on July 7, 2014
Categories: Bill.com, Billhighway, Expensify, Loop, Narrative Science, Open Bank Project, Tradeshift, ZenPayroll, Zighra

American Banker features Tradeshift in a column on startups innovating in the small business bill pay space.

Credit Union Broadcast interviews Greg Ewald, VP of Marketing for Loop.

Zighra partners with Toyuma to launch a Kickstarter project to launch PassZweipe, a password manager app.

Billhighway to provide automated donation processing for The Michigan Humane Society.

Open Bank Project organizing Hack/Make The Bank hackathon in Berlin. Check out more builder tools at FinDEVr this Fall.

Bill.com, ZenPayroll, and Expensify earn spots Sqrl blog’s list of 39 apps you didn’t know could grow your business.

Narrative Science’s Kris Hammond is featured in Business Insider’s Technology section.

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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20 Mobile Banking Landing Pages

By Jim Bruene Posted on July 3, 2014
Categories: Mobile Banking, UX, Website Usability & Design

Last week, I caught up with the USAA folk to share thoughts on the future of mobile banking. They explained how they are converting visitors on the mobile web to their native app with a popup (interstitial) prompt (see inset). It’s the first time I’ve seen a bank use that desktop technique on the mobile web.

It had been more than a year since I took a tour of major banks using my phone’s browser (Safari, iPhone 5, iOS7). The last time proved relatively uninspiring. Several banks showed a mobile-optimized view, but most defaulted to their desktop-PC view which is unusable without tedious “pinch and zooming.” And no one pushed users to the native app.

Today, that’s changed dramatically. Of the 20 major mobile banking websites I visited, only one (Citibank) delivered a desktop-PC view (and that varied depending on which URL was used to enter the Citibank site). And four of the 20 pushed their mobile app heavily (and three more showed a download link to the app store).

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Recommendations
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While there has been much talk about pushing customers to less-costly HTML5 and responsive-design mobile websites, it’s still an app world (1 million and counting on iOS alone). And that’s not changing if Apple has anything to say about it. If you have a native app, make sure your mobile customers know about it.
Every mobile web front landing page should include a prominent link (above the fold) to your native app(s). And it’s not enough to simply show the Apple and Android app store logos. That’s too subtle for many novice smartphone users.
The call-to-action should list at least one benefit to the native app. Facebook, for instance, simply says, “browser faster.”
Test an interstitial landing page such as the one currently used by USAA. Users can choose “remind me later” to defer their decision to download the app, or they can kill the interstitial permanently by choosing “no thanks.”

Table: Mobile web default view from 20 major mobile FIs
Key: Native promo = Promotes native app
Mobile web = Delivers mobile-optimized view
Pinch & Zoom = No mobile optimization on main landing page, requires pinching and zooming to navigate

	Mobile Optimized View?	Native App Call to Action?	App Store link?	Large Promo?
Native app promo
Bank of America	Yes	Yes	Yes	Yes
Barclays (UK)	Yes	Yes	Yes	Yes
Moven	Yes	Yes	Yes	Yes
USAA	Yes	Yes	Yes	Yes
Mobile web
American Express	Yes	No	No	No
BB&T	Yes	No	No	No
BECU	Yes	Yes	No	No
BMO Harris	Yes	No	No	No
Capital One	Yes	No	No	Yes
Chase	Yes	No	Yes	No
Fifth Third	Yes	No	No	No
ING Direct (Turkey)	Yes	No	No	Yes
Regions	Yes*	No	No	No
Schwab	Yes	Yes	Yes	No
Simple	Yes	No	No	Yes
SunTrust	Yes	No	No	No
US Bank	Yes	No	No	No
Wells Fargo	Yes	No	Yes	No
Pinch&Zoom
Citibank	Varies by URL	No	No	No
GoBank	No	No	No	No

*Regions uses popup to provide choice of mobile view or full website

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Alumni News– July 3, 2014

By Julie Muhn (@julieschicktanz) Posted on July 3, 2014
Categories: Braintree, CurrencyTransfer, eToro, MicroStrategy, Misys, TIBCO Software, Tradeshift, Wealthfront, WePay

Misys launches new, modular core banking solution, FusionBanking Essence.

MicroStrategy, TIBCO listed among 16 most significant business intelligence software vendors in new Forrester report.

The New York Times Business Day interviews Adam Nash, CEO of Weathfront.

Wired Money startup pitch competition features Finvoate alums CurrencyTransfer and eToro.

Facebook chooses Braintree as sole payments provider for its FbStart program.

Wepay launches new website.

Tradeshift makes CPO Rising’s 2014 Hot Tech Prospect list.

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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Emida Launches New Smartphone Android POS App

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Emida

Just in time for the second half of 2014, Emida’s Android POS app is ready for launch.

Traci Jones, VP of Global Product Development said, “We know through our 20 years of experience that we excel in prepaid technology simply because we understand the needs of our partners, worldwide.”

The new Android app is optimized for both Android smartphones and tablets, and provides much of the same functionality as Emida’s POS terminals. The app is available to all of Emida’s U.S. partners.

Emida maintains an international network that allows carriers, service providers, merchants, retailers and others to offer prepaid products to their customers via standard POS terminals. These prepaid products and services range from wireless and long distance, to bill pay and lottery, to stored value card and international top-up.

Take a look at a handful of Emida metrics:

Headquartered in Foothill Ranch, California
Operates in 37 countries worldwide
Supports network with more than 54,000 retail points
Network annual dollar payment volume of more than $1.5 billion
Network processes more than 240 million annual payment transactions

David Kirtman is CEO.

Emida demoed its technology as part of the FinovateFall 2012 conference in New York. See the company in action here.

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Seeking to Raise $75 Million, Yodlee Files for its Initial Public Offering

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Yodlee

Earlier this year, we were thrilled to announce the first company to go public as a Finovate alum, Q2.

This week we learn that another alum, Yodlee, is taking the IPO plunge, as well.

With a goal of raising $75 million, Yodlee has filed its S-1 with the Securities and Exchange Commission, indicating its intention to become a public entity.

According to The Silicon Valley Business Journal, Yodlee plans to list on the Nasdaq stock exchange under the ticker symbol, YDLE.

Yodlee is one of the engines powering a variety of digital and mobile technologies in the fintech space, from digital wallets to PFM solutions. The company’s account aggregation abilities and vast collection of transactional data from consumers and businesses are widely sought after by startups and established companies alike.

A few metrics about Yodlee shared in the S-1:

More than 750 organizations in more than 10 countries use Yodlee’s platform
More than half of the 15 largest banks in the United States are Yodlee customers
More than 100 million end users reached by Yodlee technology via the company’s network of partners
More than 15 million paid users as of the March 31, 2014
Revenues in 2013 grew 21% to more than $70 million
Revenues during the first three months of 2014 grew 34% to more than $19 million
Net loss of $1.2 million for the year ended December 31, 2013
EBITDA of $4.7 million for the year ended December 31, 2013
EBITDA of $885,000 for the three months ending March 31, 2014

Yodlee is a three time Best of Show winner, having taken home trophies after demos at Finovate 2009, FinovateFall 2013, and FinovateAsia 2013. Founded in 1999 and headquartered in Redwood City, California, Yodlee recently announced partnerships with Startupbootcamp, 25fifteen, and Entrepreneurial Spark. Anil Arora is Yodlee’s president and CEO.

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Alumni News– July 2, 2014

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Emida, Market Prophit, Q2, SafetyPay, Yodlee

SafetyPay announces partnership with Alpha Payments Cloud.

Reuters Insider interviews Igor Gonta, CEO of Market Prophit.

Q2 partners with Easy Solutions to bring multi-factor authentication to FIs.

Emida launches smartphone POS app.

Yodlee files for initial public offering; seeks to raise $75 million.

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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Q2 Partners with Easy Solutions to Bring Total Fraud Protection Suite to FIs

By Julie Muhn (@julieschicktanz) Posted on July 1, 2014
Categories: Q2

Courtesy of a new partnership between Q2 and Easy Solutions, more than 340 financial institutions will now have access to a suite of omni-channel fraud prevention solutions.

Integrating Easy Solutions’ Total Fraud Protection Platform will give banks and credit unions are Q2’s virtual banking technology additional protection against attacks including phishing, farming, malware, Man-in-the-Middle and Main-in-the-Browser.

Jay McLaughlin, chief security officer and senior VP of Q2 said, “Security and fraud protection are crucial pieces of what customers depend on us to provide.” Added VP of Worldwide Sales at Easy Solutions, Alberto Arango, “Q2 is an innovator and has seen impressive growth in acceptance of its platforms, delivering virtual banking to more than 3.5 million retail an commercial users.”

Q2 is an innovator in the field of cloud-based virtual banking. The technology company specializes in providing solutions for community banks, regional banks, and credit unions. the company was most recently in the press announcing a handful of deployments at financial institutions like First Financial Bank and Urban Partnership Bank.

Founded in 2005 and headquartered in Austin, Texas, the company launched an initial public offering in March, and trades on the NASDAQ under the ticker, QTWO. Matthew Flake is CEO.

A few metrics on Q2:

Revenue growth of 51% in 2013
Market capitalization of more than $495 million
Trailing 12-month revenue (as of March 31, 2014) of more than $60 million

Q2 demoed its Risk & Fraud Analytics solution at FinovateSpring 2011 in San Francisco. See the company’s demo here.

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