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LOYAL3 Social IPO Platform Democratizes the Investment Process

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, LOYAL3

This post is part of our live coverage of FinovateSpring 2014.

Our next presenter from nearby San Francisco is LOYAL3, demoing their Social IPO Platform.

“The LOYAL3 Social IPO Platform opens up IPO access to large numbers of individuals like never before. LOYAL3 partners with pre-IPO companies to give them a way to include consumers, employees, partners, and fans in their IPO. Through LOYAL3, people can start investing in an IPO with just $100 and pay no fees to purchase the IPO stock.

LOYAL3’s IPO platform augments and complements the traditional IPO investing process by providing a way for small investors to participate in IPOs at the same price per share and at the same time as Wall Street institutions and their largest customers.”

Presenting: Barry Schneider (CEO)

Product Launch: October 2013

Metrics: To date, LOYAL3 has 102 employees and raised more than $60 million in funding

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)

HQ: San Francisco, California

Founded: November 2008

Website: loyal3.com

Twitter: @LOYAL3

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Nearex Launches Xip, a Micropayment Cash Alternative for Day-to-Day Transactions

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, Nearex

This post is part of our live coverage of FinovateSpring 2014.

All the way from Singapore, here is the team from Nearex, demoing the Xip Micropayment System:

“The Xip Micropayment System harnesses the widespread presence of mobile phones and rising use of mobile money to create an affordable, simple-to-use cash alternative for all kinds of day-to-day payments.

At the core of the solution is XipPOS for merchants, a low cost credit card size Mobile POS that has its own GSM radio core. It is highly portable, ruggedized, and uses NFC for contactless transactions. The consumers are given XipTAG, a personalized NFC card or sticker connected to their Mobile Money account. Payments are made by simply tapping XipTAG on the Xip POS. The existing mobile phone of the consumer is used as the acknowledgement interface. A cloud-based mediation server facilitates easy scaling and highly secured integration of Xip within a wide range of mobile money and banking environments.

XipPOS can be used individually by small merchants or easily integrated to meet the sophisticated demands of multi-outlet, multi-till retail establishments.”

Presenting: Mayank Sharma (CEO) and Arun Tanksali (CTO)

Product Launch: April 2014
Metrics: $1 million raised to date
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Singapore
Founded: December 2012
Website: nearex.com

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FinBuddy’s Tools Help Retail Investors Better Understand their Portfolio

By Julie Muhn (@julieschicktanz) Posted on April 30, 2014
Categories: FinBuddy, FinovateSpring 2014

This post is part of our live coverage of FinovateSpring 2014.

Second up this afternoon, FinBuddy launched easy-to-understand tools that engage investors without intimidating them:

“Currently, retail investors are stifled by the lack of tools that speak the same language at the level they can comprehend. Vast amount of data that is available creates more confusion and does not provide enough actionable information or insight to investors. FinBuddy addresses this gap by providing very easy-to-understand tools that don’t scare investors but engage them without losing depth and rigor.

We provide an intuitive stock & fund screener that helps investors discover new investment opportunities similar to how we discover things in the real world. We provide a comprehensive way to evaluate an investment without overwhelming the user. Our portfolio analysis toolset helps individuals understand their portfolios in easy terms and track them better. Finally, trusted friends can provide commentary and feedback on the investor’s portfolio and share tips over FinBuddy’s social network feed. Social collaboration combined with personalized and relevant insights help individuals make sound investment decisions.”

Presenting: Shyam Maddali (CEO & Founder) and Baker Nanduru (Co-Founder)

Product Launch: April 2014

Metrics:

Funding: self-funded
Number of employees: 1 full-time, 2 part-time
Revenues: pre-revenue
Registered users: ~200 (friends & family)

Product distribution strategy: Direct to Consumer (B2C)

Founded: May 2013

HQ: Fremont, CA

Website: finbuddy.com

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Qapital Combines PFM, Safe Balance and Event-Based Savings and Goals into One App

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, Qapital

This post is part of our live coverage of FinovateSpring 2014.

Qapital is our next presenter. The company’s PFM, safe balance, savings and goals app is live in Sweden and in closed beta in the U.S.

“Qapital for iPhone – a unique app that provides answers to the following three questions:

How much money can I spend?

How am I spending my money?

How can I achieve the things that really matter to me?

The knowledge contained in the PFM transaction data is leveraged to create small and inspiring ways to show how much you are able to spend as well as how to achieve your goals through savings.

Here are some examples of the smart and inspirational features:

You’ve spent less on taxis than usual this month; do you wish to transfer the surplus to your ski trip goal?

Tax yourself a dollar toward your new guitar every time you buy a beer.

Yes, you can afford that sweater if you skip five coffees at Starbucks!”

Presenting: George Friedman (CEO & Founder) and Henrik Wrangel (Chief Product Officer)

Product Launch: November 2014

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B) through financial institutions, licensed

HQ: Stockholm, Sweden

Founded: September 2012

Website: qapital.com

Twitter: @qapitalapp

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PrivatBank Brings Smartphone-Controlled ATM Technology to Western Market

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, PrivatBank

This post is part of our live coverage of FinovateSpring 2014.

Coming to the stage – all the way from the Ukraine – is the team from PrivatBank.

Topless Android ATM is an ATM without an unnecessary TOP. It is equipped with an Android phone with an NFC chip, Raspberry Pi, cash dispenser, and safe. The ATM has minimum electronics and no keypad or buttons and is controlled by customers’ smartphones.

Presenting: Kristina Chaiykovskaya (Deputy Head, E-Business) and Maria Gurina (Deputy Head, E-Commerce)

Product Launch: October 2013

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

HQ: Dnepropetrovsk, Ukraine

Founded: March 1992

Website: privatbank.ua

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Red Giant App Makes Ordinary Payment Cards Intelligent, Flexible and Secure

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, Red Giant

This post is part of our live coverage of FinovateSpring 2014.

Our next presenter is the team from Red Giant.

Red Giant’s groundbreaking service gives you financial control and security you have not had until now. Red Giant keeps your debit card locked until you are ready to use it. And when you want to make a purchase you just use the mobile app to unlock your card with the touch of a button.

When you unlock your Red Giant card it works just like any other card, only better. You get instant receipts, immediate balance updates, and a real-time picture of your actual spending compared to your goals – right on your smartphone.

You can use your Red Giant physical card anywhere standard cards are accepted. Red Giant Digital cards – shown securely in our mobile app – let you separately control your online purchases.

Presenting: Robert Sears (CEO) and Lindsay Douglass (Project Manager)

Product Launch: April 2014

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions

HQ: Palo Alto, California

Founded: June 2008

Website: redgiantmobile.com

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Zumigo Demos Assure Technology to Speed and Simplify eCommerce Transactions

By David Penn Posted on April 30, 2014
Categories: FinovateSpring 2014, Zumigo

This post is part of our live coverage of FinovateSpring 2014.

Zumigo is on stage now, about to debut its Assure solution for securing financial transactions, identifying devices and their owners, and enabling marketing

“Zumigo is demonstrating a revolutionary new way to simplify the account-opening funnel and reduce shopping cart abandonment. Financial institutions and eCommerce companies can integrate this solution to existing new-customer flows on websites and mobile applications. By leveraging its access to mobile networks and related account data, Zumigo can pre-populate forms with a customer’s name, address, phone number, and even tokenized credit card data. Now a customer’s mobile phone can provide the data needed to streamline, reduce risk, and secure any transaction.”

Presenting: Chirag Bakshi (CEO & Founder) and David Pinski (VP Product Management)

Product Launch: April 2014

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

HQ: San Jose, California

Founded: December 2009

Website: zumigo.com

Twitter: @zumigo1

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Avoka Launches TransactWeb to Turn Paper, PDF and Web Forms into Digital SmartForms

By David Penn Posted on April 30, 2014
Categories: Avoka, FinovateSpring 2014

This post is part of our live coverage of FinovateSpring 2014.

Making their way to the stage now is the team from Avoka.

Avoka TransactWeb is the Customer Transaction Experience Game Changer. As the leading Multi-Channel Data Collection SmartForm & Transaction Management System, it transforms mobile-unfriendly, painful-to-fill-in, hard-to-maintain, slow-&-dirty-data, channel-constrained Paper, PDF, or Web Forms (such as account opening & loan applications, permits & license, student enrollment, and insurance claims) into mobile-optimized, easy-&-intuitive-to-fill-in, fast-&-agile-to-maintain, high-quality-data Multi-Channel SmartForms for a seamless, multi-channel customer transaction experience.

It also announced a partnership with miiCard that will allow customers to use their miiCard online ID verification to replace physical ID verification.

Presenting: Phil Copeland (CEO) and Jeff Kalicki (Senior Account Executive)

Product Launch: March 2014

Metrics: Over 100 employees; offices in US, UK, and Australia; tier 1 & 2 Financial Services clients; government clients in US, UK, and Australia; industry-leading NPS score (+41).

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

HQ: Denver, CO

Founded: January 2002

Website: avoka.com

Twitter: @avokatech

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Visible Equity’s Fair Lending Analytics Can Mathematically Prove Borrowers Are Treated Fairly

By Julie Muhn (@julieschicktanz) Posted on April 30, 2014
Categories: FinovateSpring 2014, Visible Equity

This post is part of our live coverage of FinovateSpring 2014.

Next, Visible Equity launched Fair Lending Analytics to help financial institutions prove they are treating borrowers fairly:

“Fair Lending laws have been around for decades, but more sophisticated Fair Lending analysis has recently become a hot-button issue and point of emphasis from financial regulators.

Our product uses intuitive design and advanced statistical modeling to determine whether discrimination or “disparate impact” is potentially occurring in marketing activities, during the loan application process, with pricing and add-on products, and with charge-off and collection practices.

It is unlikely that a financial institution is ever knowingly discriminating, but now with the use of Fair Lending Analytics, institutions can mathematically prove they are compliant and treating all borrowers fairly.”

Presenting: Matthew Court (VP Sales & Marketing) and David Gilbert (COO)

Product Launch: April 2014

Metrics: We serve over 300 clients and analyze over $120B in loans daily.

Product distribution strategy: Direct to Business (B2B)

HQ: Salt Lake City, UT

Founded: June 2008

Website: visibleequity.com

Twitter: @visibleequity

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Smarter Authentication from Encap Security Combats CNP Fraud

By David Penn Posted on April 30, 2014
Categories: Encap, FinovateSpring 2014

This post is part of our live coverage of FinovateSpring 2014.

Our next presenter is the team from Encap Security. The company’s Smarter Authentication solution helps provide a secure, seamless omnichannel experience for financial institutions and their customers.

“In the wake of Target and other large retail breaches, Encap has the first solution that can be used to combat CNP fraud – the way most compromised cards are used. Encap is demoing our authentication solution with an emphasis on the importance of thinking outside the traditional ‘authentication’ box.

Because Smarter Authentication is complex, secure, and provides a simple and seamless user experience, it is ideally suited to address not only mobile and online banking transactions, but also CNP transaction approval.”

Presenting: Adam Dolby (VP Business Development) and David Nayes (Director of Sales)

Product Launch: November 2012

Metrics: Based in Oslo and Palo Alto, Encap Security’s management team has more than 60 years experience and an unrivaled pedigree in authentication, identity management, mobile app security, and mobile financial services. Following a recent funding round, the total investment in Encap Security stands at $6.6 million. Encap Security’s solution is used by major financial institutions, enterprises, and technology integrators including Santander Consumer Bank Norway, EnterCard, and Sparebaken Vest.

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

HQ: Palo Alto, CA

Founded: October 2012

Website: encapsecurity.com

Twitter: @encapsecurity

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Wipit’s Boost Mobile Gives Underbanked Users an Easy Alternative to Retail Check Cashing

By Julie Muhn (@julieschicktanz) Posted on April 30, 2014
Categories: FinovateSpring 2014, Wipit

This post is part of our live coverage of FinovateSpring 2014.

Next, Wipit took the stage to demo Boost Mobile Wallet:

“Boost Mobile Wallet lets millions of prepaid wireless customers load cash to their mobile wallet account, then use the funds to send international money transfers, pay bills, or top-up their Boost Mobile phone − all from the convenience of Wipit’s Mobile Wallet app on their Android smartphone or iPhone.

Customers are also provided with a convenient, cost-saving alternative to retail check cashing via Wipit’s in-app Quick Check service. For customers that prefer the convenience of card payments, Boost Mobile Wallet includes a personalized, linked Visa prepaid card that can be used for ATM withdrawals and Visa purchases.”

Presenters: Richard Kang (CEO) and John Janes (COO)

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

HQ: Pasadena, CA

Founded: May 2010

Product Launch: May 2013

Website: wipit.me

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SaveUp Debuts its “Gummy Vitamin” of Personal Finance on an iPhone App

By Julie Muhn (@julieschicktanz) Posted on April 30, 2014
Categories: FinovateSpring 2014, SaveUp

This post is part of our live coverage of FinovateSpring 2014.

Second up this afternoon, SaveUp debuted its iPhone app aimed at helping Millennials learn about and engage with their personal finances:

“SaveUp is the first rewards program for saving money and reducing debt with the opportunity to win life-changing prizes and merchant-funded rewards. SaveUp is the “gummy vitamin” of personal finance, generating unprecedented engagement with personal finance among Millennials.

Six months after signing up, the average user links 6 – 8 accounts, and of these 20% are daily active users and 60% monthly actives. SaveUp users are engaged to learn about new financial products, seek financial guidance from CFPs, access financial education, and make better financial decisions.

Personalization is based on data. SaveUp is a highly flexible, customizable platform that drives engagement and retention in different financial service verticals. SaveUp is premiering the iPhone app at FinovateSpring 2014.”

Presenting: Priya Haji (CEO & Co-Founder) and Sammy Shreibati (CTO & Co-Founder)

Product Launch: November 1, 2011

Metrics: The average user links 6 – 8 accounts, and of these 20% are daily actives and 60% are monthly active users.

Product distribution strategy: Direct to Consumer (B2C), through financial services channels including: banks, credit unions, digital wallet, prepaid, student loan, and employee wellness

HQ: San Francisco, CA

Founded: April 2011

Website: saveup.com

Twitter: @playsaveup

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