FinanceIt’s New iPad App Gives Borrowers Instant Loan Approval at the Point-of-Sale

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinanceIt, FinovateFall 2013
This post is part of our live coverage of FinovateFall 2013.
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FinanceIt demonstrated how its technology provides consumer financing at the point-of-sale:
“FinanceIt iPad App with ID scan instant approvals and borrower facing online application form that merchant Partners can embed anywhere.”
Product Launch: January 2011
Metrics: FinanceIt has over 2,500 merchant partners who have processed over $400M in loan volume since launch. There are currently 40 employees and we have raised $8M. We are closing a $10M to $13M US expansion round this year.
Product distribution strategy: SEO, SEM, Trade Advertising, Partnerships, Sales, Business Development, & PR
HQ: Toronto, ON, Canada
Founded: January 2011
Website: financeit.ca
Presenting Michael Garrity (CEO), Casper Wong (COO), and Paul Sehr (CTO)
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The full demo video will be available at finovate.com in mid-September.

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AuthenticID’s PictureID Heralds the End of ID Fraud

By David Penn Posted on
Categories: authenticID, FinovateFall 2013

Thumbnail image for authenticIDLogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Our next presenter is authenticID, demoing their identity proofing solution, pictureID.
“authenticID’s identity authentication solution, pictureID annihilates ID fraud. It is the only system that’s invulnerable to fraud schemes. Our unique agreements allow pictureID to connect directly with document issuers in the U.S. and Canada. This allows companies to go directly to the source for identity authentication. 
Unlike current identity proofing providers – we don’t ‘guess.’ We provide absolute confirmation since document issuers records are unique to every citizen. There’s no way to trick pictureID – it returns a picture of the real consumer on file with the document issuer – with 100% accuracy.”
Product Launch: May 14, 2013
Metrics: Over $1M pledged; installed in nuclear facilities, either in or starting proof of concept with a major U.S. telecom, retailer, and a top 5 bank.
Product distribution strategy: Direct to Business (B2B) & through other fintech companies and platforms.
HQ: Atlanta, Georgia
Founded: January 2012
Twitter: @authenticID
Presenting Blair Cohen (CEO), Karl Perman (VP Business Development)

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The full demo video will be available at Finovate.com in mid-September.

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Build Your Own Branded App Store with MarketMaker from SaaS Markets

By David Penn Posted on
Categories: FinovateFall 2013, SaaS Markets

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This post is part of our live coverage of FinovateFall 2013.

Up next is SaaS Markets. The enterprise app store company has developed a platform that allows FIs to build, brand, and launch their app store in weeks rather than months.

“SaaS Market’s MarketMaker Enterprise App Store Platform allows financial companies to deploy a fully branded app store containing your proprietary apps and/or selected software from our catalog of over 1,500+ pre-qualified business applications.”
Product Launch: January 2013
Metrics: Funding $3.5M (private) & 20+ employees in US and Europe
Product distribution strategy: Direct to Business (B2B) & through financial institutions
HQ: San Mateo, California
Founded: November 2011
Twitter: @SaaSMarkets
Presenting Ferdi Roberts (CEO & Founder) and Cameron Ministri (Enterprise Sales Manager)
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The full demo video will be available at Finovate.com in mid-September.

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Instabank Debuts Mobile-Only Bank

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Instabank
This post is part of our live coverage of FinovateFall 2013.

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Next, Instabank demonstrated the capabilities of its mobile-only bank:
“Instabank is a mobile-only bank. Instabank’s main goals are to: Help people enjoy the simplicity of managing their bank account, bring the social aspect into the area of personal finance, unlock viral growth in user acquisition, and become the Dropbox of retail banking. 
Key features: Real-time activity stream, add comments, photos, and Foursquare venues to purchases, send money to Facebook friends, send money to nearby Instabank users, up to 10% APR for checking accounts, ATM map showing distance to nearest free ATM, bill pay, share purchases on Facebook, search purchases using keywords, split a bill with friends, design your own debit card using Instagram photos, and PFM with expense category statistics and analytics.”
Product Launch: April 2013
Metrics: Thousands of users a few months after launch.
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: Prague, Czech Republic
Founded: August 2012
Website: instabank.eu
Twitter: @instabankru

Presenting Roman Potemkin (Co-Founder & CEO) and Alexey Shelestenko (Head of Marketing)

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The full demo video will be available at finovate.com in mid-September.

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StrategyCorps’ BaZing Helps Financial Institutions Bring in Fee Income from Checking Accounts

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, StrategyCorps
This post is part of our live coverage of FinovateFall 2013.

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Next, StrategyCorps demonstrated its BaZing solution:
“Every financial institution needs more fee income. The challenge is how to get more without ticking off customers. Thoughtlessly slapping a new fee on an existing traditional service isn’t the answer (remember the $5 debit card fee debacle). BaZing, through its mobile and online delivery platforms, smartly provides consumer-demanded benefits so relevant and appealing, customers gladly pay for it. 
How much? On average, about one-third of your consumer checking relationships will pay nearly $75 per year. BaZing brings customer-friendly, non-overdraft related fee income like no other retail banking service. BaZing is the new cha-ching!”

Product Launch: April 2012
Metrics: 43 FTE employees, 1M full fee paying users, 350,000 partial fee paying users, & 200 financial institution clients
Product distribution strategy: Through financial institutions & through other fintech companies and platforms
HQ: Brentwood, TN
Founded: November 2001
Twitter: @StrategyCorps
Presenting Mike Branton (Managing Partner) and Dave DeFazio (Partner)
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The full demo video will be available at finovate.com in mid-September.

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Yodlee Debuts TANDEM to Help Groups Manage and Discuss Shared Finances

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Yodlee
This post is part of our live coverage of FinovateFall 2013.

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Yodlee took the stage next to debut its new TANDEM product:
“When it comes to finances, where you stand depends on which “hat” you’re wearing. Most people have several “shared finances” in their life. Elderly parents. Spouses. Children. Friends. Now, through a single app, you can manage them all. Yodlee created TANDEM to enable safe and meaningful dialogue about finances between individuals and among groups. 
With its unique tools to access, learn, manage, project, and control, TANDEM empowers you to make financial decisions as a family, a couple, a group, or a parent.  And making financial decisions has never been more rewarding or more actionable. Close, Closer, Closest. Regardless of the relationship(s), you get one app, different views, full financial control.”
Product Launch: September 2013
Metrics: Yodlee is a global financial leader with 600+ customers, 50M+ users, and more than 700 employees worldwide. From leading financial institutions to Fortune 500 consumer service companies to the coolest startups, Yodlee powers innovative digital services shaping the future of customer interactions. With 25%+ year-over-year revenue growth, Yodlee continues to expand in existing and new markets globally.
Product distribution strategy: Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: Redwood City, CA
Founded: February 1999
Website: yodlee.com
Twitter: @yodlee
Presenting Anil Arora (President & CEO) and Katy Gibson (VP Applications)
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The full demo video will be available at finovate.com in mid-September.

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Capital Access Network Launches “Mobile Funder” Tool

By Julie Muhn (@julieschicktanz) Posted on
Categories: Capital Access Network, FinovateFall 2013
This post is part of our live coverage of FinovateFall 2013.

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Capital Access Network launched Mobile Funder:
“Mobile Funder is a tablet-based tool enabling time-starved, “on the move” financial sales/ISO representatives selling alternative capital to small businesses with the ability to complete their sales process in one visit. 
Mobile Funder empowers reps to securely pre-qualify prospects, authorize credit checks, propose multiple finance options and submit applications in minutes, eliminating paper applications and the need for multiple visits. The result: This all-in-one tool gives small business finance reps the power to close more deals and deliver capital faster.”
  
Product Launch: September 2013
Metrics: CAN has helped small businesses access $3B+ in over 120,000 transactions. CAN operates with 425 employees in 4 locations. CAN secured $30M in venture funding from Accel Partners in 2012 and expanded its credit line by $165M in May 2013, bringing its total line to nearly $500M.
Product distribution strategy: Direct to Business (B2B)
HQ: New York, NY
Founded: 1998
Twitter: @CANCapital
Presenting Daniel DeMeo (CEO) and Brent Harrison (Director of Marketing, Alliance & Partnerships)
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The full demo video will be available at finovate.com in mid-September.

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TipRanks Presents its Cloud-Based Accountability Engine for Investors

By David Penn Posted on
Categories: FinovateFall 2013, TipRanks

TipRanksLogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Next up in our second session of the day is TipRanks. TipRanks was recognized among the “Best of Show” at FinovateSpring 2013 in San Francisco.
“TipRanks is an independent, cloud-based service that collects, sorts, and presents unbiased, comparative metrics about stock recommendations published online from financial experts. TipRanks categorizes this advice by a combination of two key factors: the ability of a recommendation to generate excess profit above the S&P 500, and the percentage of times recommendations outperform the S&P 500.
“These metrics help communicate in real-time the accuracy and credibility of individuals providing such advice. It allows the individual investor to decide who to trust.”
Product Launch: April 2013
Metrics: $700,000 raised & 10 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Tel Aviv, Israel
Founded: June 2012
Website: tipranks.com
Twitter: @TipRanks
Presenting Gilad Gat (Co-Founder & CTO) and Tomer Turgeman (VP, Business Development)
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The full demo video will be available at Finovate.com in mid-September

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Deluxe and VerifyValid Team Up to Provide Secure Electronic Checking

By David Penn Posted on
Categories: Deluxe, FinovateFall 2013, VerifyValid

newlogoDeluxeVerifyValid.jpgThis post is part of our live coverage of FinovateFall 2013.

Next up is a joint presentation from Deluxe Corporation and VerifyValid. The two are teaming up to bring electronic check payments to small businesses and consumers.
“VerifyValid lets customers make/receive check payments entirely online, utilizing virtual lockbox and remote deposit capture systems, or by printing checks on plain paper.
The partnership between Deluxe and VerifyValid will soon introduce secure electronic check payments to the 4M small business and 5,700 bank customers currently served by Deluxe. 
Using an unprecedented secure platform and patented fraud prevention, VerifyValid can lower an organization’s costs while increasing efficiency, sustainability, and financial security with every payment.”
Product Launch: July 2013
Product distribution strategy: In presenting VerifyValid to its customer base, Deluxe will employ a multi-channel strategy, including printed and electronic marketing, a direct sales force, FI, and telecommunications client referrals, purchased search results from online search engines, and independent distributors and dealers to promote and sell a wide range of customized products and services.”
HQ: Deluxe Corp – Shoreview, Minnesota; VerifyValid – Grand Rapids, Michigan
Founded: Deluxe Corp – 1915; VerifyValid – 2010
Twitter: @deluxecorp | @verifyvalid
Presenting Paul Doyle (CEO & Founder, VerifyValid) and Malcolm McRoberts (SVP Small Business Services, Deluxe)
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The full demo video will be available at Finovate.com in mid-September.

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Versafe Presents its TotALL Online Fraud Protection Suite for Web and Mobile App Security

By David Penn Posted on
Categories: FinovateFall 2013, Versafe

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This post is part of our live coverage of FinovateFall 2013.

Versafe is making its way to the stage right now. The company’s solutions provide fraud protection for mobile and online applications.
“The TotALL Online Fraud Protection Suite protects the login, user profile & transaction communication between the endpoint and web and mobile applications in real-time, without requiring software download or any user involvement whatsoever. 
The solution leverages advanced application-layer encryption, sophisticated malware detection, and real-time behavioral analysis to proactively protect user credentials, accounts, and monies. And with several implementation models, including a rapid deployment option not requiring any application development, protection across an organization’s entire user base can begin as soon as tomorrow. 
Protect ALL online users. From ALL malware, threat types. On ALL devices. ALL transparently to the user.”
Product Launch: October 2010 (with several enhancements and versions since)
Metrics: 30+ customers internationally, Susquehanna Growth Equity investment of $5M, over 50 employees & over 50M online users protected. Transparently. 
Product distribution strategy: Direct to Business (B2B) & via other fintech companies/platforms
HQ: Rishon Le Zion, Israel
Founded: September 2009
Presenting Jens Hinrichsen (VP, Marketing & Business Development) 
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The full demo video will be available at Finovate.com in mid-September.

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Luminous Banking Debuts Business Loan PreApprover Technology

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, Luminous
This post is part of our live coverage of FinovateFall 2013.

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Then, Luminous showed how its PreApprover helps financial institutions efficiently screen potential borrowers:
“Online business loan PreApprover is a customer-driven, self-service tool that identifies suitable loan customers from unsuccessful applicants with minimal effort from the bank. PreApprover reduces the amount of resources spent on the screening process and enables more business customers to apply for loans.”
Product Launch: February 2013
Product distribution strategy: Through financial institutions
HQ: Johannesburg, South Africa
Founded: 2009
Twitter: @luminousbanking

Presenting Andrew Buchanan (Global Head of Sales) and Andrew Teversham (CTO)
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The full demo video will be available at finovate.com in mid-September.

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MoneyDesktop Introduces GuideMe

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2013, MoneyDesktop
This post is part of our live coverage of FinovateFall 2013.

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Next, MoneyDesktop brought GuideMe to the stage:
“GuideMe is integrated directly into MoneyDesktop’s award-winning PFM platform and draws from an account holder’s daily spending habits to help suggest a path for achieving future financial goals such as paying off a loan, saving for a child’s college education or preparing for retirement. 
Fully customizable, GuideMe clearly presents financial goals by implementing a similar approach to the companie’s patented BubbleBudget concept, allowing account holders to track progress within each individual goal while visualizing the immediate importance of each long-term objective based on variable size and location on the tool’s virtual time line. Unlike many financial planning solutions, GuideMe automatically updates the progress of each goal based on the change or realization of another. For example, GuideMe will update the suggested path for a longer-term goal, such as saving for a new car, once a more immediate goal like saving funds for an emergency needs account is met.””
Metrics: Triple digit growth over the past 3 years, 27 Online Banking/Core/Payment Network Partners, 400+ FI Clients, & 90+ employees

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

HQ: Provo, UT
Founded: March 2010
Twitter: @moneydesktop
Presenting Ryan Caldwell (CEO & Founder) and Matt West (VP Sales)
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The full demo video will be available at finovate.com in mid-September.

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