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LICUOS Launches Secure, B2B Payables, Receivables Processing Solution

By David Penn Posted on May 15, 2013
Categories: FinovateSpring 2013, LICUOS

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

Coming to the stage next to present their global B2B payment platform is Madrid-based LICUOS.

“LICUOS is demoing its core technology: a unique proprietary and patent-pending technology that enables an efficient and highly secure processing of accounts payable and receivable transactions, 24/7 and in real-time, to deliver the best financial optimization and user experience. Our algorithms automatically identify and generate the most convenient and efficient netting, payment and funding proposals. They manage all of the associated transactions that allow businesses to significantly reduce or eliminate their commercial debts. LICUOS gives businesses full control and visibility into the payment process and allows them to easily communicate and negotiate with their business partners.”

Product Launched: 2013

HQ Location: Madrid, Spain

Company Founded: December 2012

Metrics: Product in development since early 2012; seed capital from IDEON Financial Solutions & AVS

Website: licuos.com

Twitter: @licuos_en

Presenting Iker de los Rios (CEO & Co-Founder) and Lander Gonzalez (Co-Founder)

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Go Social: Finect Introduces its Online Social Network for the Financial Industry

By David Penn Posted on May 15, 2013
Categories: Finect, FinovateSpring 2013

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

Coming to the stage next is Finect, the online social network for financial advisors, asset managers, investors, and other industry professionals.

“The first social network focused solely on the needs of the industry features:

Professional Verification – the only network to check credentials and raise the quality of the network

Groups – the ability to create public or private groups to update customers or employees instantly or build brand and awareness with prospective clients

One-Stop Social Communications – post once and share content with many (LinkedIn, Twitter)

Social Products – investment products that can now be followed for real-time alerts and community opinions

Compliance – full permissions, content controls, archiving, and reporting for compliance officers and marketers to remain SEC/FINRA compliant.”

Product Launched: May 2013

HQ Location: New York, New York

Company Founded: 2012

Website: finect.com

Twitter: @finectcom

Presenting Jennifer Openshaw (President) and Nicolas Oriol (CEO & Founder)

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Signifyd Debuts Guaranteed Payments Solution to Help Online Merchants Minimize Card-Not-Present Fraud

By Julie Muhn (@julieschicktanz) Posted on May 15, 2013
Categories: FinovateSpring 2013, Signifyd

This is a part of our live coverage of FinovateSpring 2013.

Second up today, Signifyd showed how its Guaranteed Payments solves costly card-not-present fraud:

“Today, Card-Not-Present merchants are liable for fraud chargebacks. As brick-and-mortar businesses move online, their losses increase. The techniques used by fraudsters are evolving quickly, forcing merchants to become experts on device fingerprinting, IP Geo-Location, NAP Checks, BIN lookups and social spoofing.

Signifyd abstracts this away by connecting all the data needed to screen a transaction and looking at the identities involved holistically. With Signifyd, merchants get a one-stop solution, from automated scoring to manual review, even without any internal history on the customer. And with Guaranteed Payments, Signifyd takes the liability in the case of a mistake. “

Product Launch: March 2013

HQ: Palo Alto, CA

Founded: June 2011

Metrics: $2.2M seed, 6 employees

Website: signifyd.com

Twitter: @signifyd

Rajesh Ramanand (CEO & Co-Founder)

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Finovera’s Personal Bookkeeper System Helps Keep Your Finances Organized

By Julie Muhn (@julieschicktanz) Posted on May 15, 2013
Categories: FinovateSpring 2013, Finovera

This is a part of our live coverage of FinovateSpring 2013.

First up on the second day here at Finovate, Finovera showcased its solution that helps organize your financial life:

“Finovera is like your personal bookkeeper. You setup your accounts once, and it automatically downloads up to 12 months of your statements, organizes them and presents them to you with detailed analysis. Now it is possible to organize your financial life in less than 10 minutes! No paper clutter, no late fees and no excuses! You receive automatic alerts when new bills are due or higher than usual. Not sure if you have to move money around to pay your bills? No problem – we’ll let you know.”

Product Launch: May 2013

HQ: Milpitas, CA

Founded: May 2011

Metrics: 15 Employees

Website: finovera.com

Twitter: @finovera

Presenting Purna Pareek (CEO) and Preeti Ray (Sr. Product Manager)

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InvoiceASAP Unveils their Mobile Invoice Network for the Enterprise

By David Penn Posted on May 14, 2013
Categories: FinovateSpring 2013, invoiceASAP

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

Our final presentation of Day One of FinovateSpring 2013 comes courtesy of InvoiceASAP, who is bringing mobile and cloud-based innovation to the world of business invoicing.

“InvoiceASAP is showing how the platform works with QuickBooks Online, Capital One Spark Payments for mobile payments, and mobile printing using the Zebra family of Bluetooth printers. InvoiceASAP is launching the Zebra printer integration on stage as well as our open API for Enterprise developers.”

Product Launched: May 2011

HQ Location: San Francisco, California

Company Founded: November 2010

Metrics: $435,000 raised; 120,000 registered accounts; $20,000 in monthly revenues; 3.5 employees

Website: invoiceasap.com

Twitter: @invoiceasap

Presenting Paul Hoeper (CEO) and Anne Maxwell (CTO)

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FamZoo Unveils its Prepaid Card Family Pack to Enable Kids to Save and Spend with their Own Prepaid Card

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: FamZoo, FinovateSpring 2013

This is a part of our live coverage of FinovateSpring 2013.

Then, FamZoo launched its Prepaid Card Family Pack:

“The Prepaid Card Family Pack is a uniquely affordable, convenient, and educational MasterCard reloadable card offering designed specifically for families. Linked together and accessed online through FamZoo’s Virtual Family Bank software, the cards are used collaboratively to share funds between family members and develop financial responsibility.

Parent cards serve as the automated funding source for allowance, chores, odd jobs, ad-hoc transfers, reimbursements, compound interest, and matching contributions. Children sign in separately to monitor spending, while parents retain control through a shared dashboard. Additional tools include collaborative budgets, interactive savings planners, “child bill pay,” and automated IOU tracking.”

Product Launch: May 2013

HQ: Palo Alto, CA

Founded: 2006

Metrics: Private Funding $1.1M, FamZoo.com launched 2010, FamZoo Partner Edition launched 2011 (FinovateFall 2011 Best of Show winner), 5,000 registered families, 13.7% trial-to-paid conversion rate, $1.4M of spending/giving transactions by kids tracked to date

Website: famzoo.com

Twitter: @FamZoo

Presenting Bill Dwight (CEO & Founder)

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CardFlight Launches Offline Payment Processing Solution

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: CardFlight, FinovateSpring 2013

This is a part of our live coverage of FinovateSpring 2013.

Next, CardFlight took the stage to launch its payment processing solution:

“We bring the same developer‐friendly, transparent approach to payment processing as Stripe and Braintree. However, we focus on the ~90% of payment transactions that happen offline.

Unlike other mobile payment services, we offer a very simple and secure SDK/API and work with the developer’s existing merchant account. Developers retain full control of their integrated app experience. They simply use our encrypted mobile mag stripe reader and API so that they can safely and securely accept payments in their apps.”

Product Launch: May 2013

HQ: New York, NY

Founded: February 2013

Website: GetCardFlight.com

Twitter: @CardFlight

Presenting Derek Webster (CEO & Founder) and Tim Saunders (CTO)

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Jemstep’s Portfolio Manager Helps Users Plan and Save for Retirement

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: FinovateSpring 2013, Jemstep

This is a part of our live coverage of FinovateSpring 2013.

Then, Jemstep showcased its Portfolio Manager platform that individualizes a plan to help users take the right actions to best save for retirement:

“Jemstep Portfolio Manager is an easy-to-use online service that helps people lock in more money for retirement. It gets to know each person’s financial circumstances and preferences, and, in minutes:

Projects the amount of money their current portfolio will give them to spend in retirement

Recommends a target portfolio optimized to generate more money

Spells out an Action Plan detailing what to buy and sell in each of their accounts (including their 401k), helping them minimize taxes, reduce fund fees, and select top-quality investments

Keeps people on track with continuous monitoring that watches for changes in their profile, portfolio, and the market and alerts them when it’s time to make a change”

Product Launch: January 30, 2013

HQ: Los Altos, CA

Founded: January 2008

Metrics: $10.5M raised in private funding; 22 employees; 10,000+ users totaling more than $1.5B in assets; pre-revenue; impending launch of subscription service – flat monthly subscription fee

Website: jemstep.com

Twitter: @jemstep

Presenting Kevin Cimring (Joint CEO) and Matthew Rennie (CTO)

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Braintree’s Venmo Touch Saves Time Spent Entering Credit Card Information on Mobile Devices

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: Braintree, FinovateSpring 2013

This is a part of our live coverage of FinovateSpring 2013.

Next, Braintree showcased how its Venmo Touch saves consumers time:

“Venmo Touch eliminates the need to constantly re-type your credit card information when making purchases on your mobile device. It provides a connective layer across all the apps on your phone, designed to make every payment in a new app as easy as buying a song in iTunes.

The next time you enter your card details in one of the apps in our network, just check “Save card with Venmo.” When you use other in-network apps on the same device, you will see the option to use the saved card to pay with just a single touch.”

Product Launch: January 2013

HQ: Chicago, IL

Founded: 2007

Metrics: Braintree has raised $70M through a series A from Accel Partners and a series B led by NEA (New Enterprise Associates) with contributions from Accel, RRE Venture, and Greycroft. We process $6B in transaction annually, $2B of which is on mobile, from over 4,000 different merchants. All of this is powered by a team of only 120-150 employees.

Website: braintreepayments.com

Twitter: @braintree

Presenting Andrew Kortina (Co-Founder, Venmo)

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Trusted Knight Debuts its Malware-Blocking Anti-Crime Software, Protector

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: FinovateSpring 2013, Trusted Knight

This is a part of our live coverage of FinovateSpring 2013.

Then, Trusted Knight demonstrated how its Protector anti-crime software blocks malware:

“Protector is designed to be quickly deployed to the large and diverse customer bases of businesses and financial institutions to immediately reduce fraud losses. Protector is extremely lightweight and can be easily integrated into existing security products. There is no minimally-required hardware configuration, no customer configuration or interaction necessary, and installation causes no stability issues or conflicts with other resident software.

Rather than attempting to detect malware (a nearly impossible task), Protector simply blocks malware functioning to prevent criminals from getting the data they need to commit crimes. Protector achieves a remarkable 70+% install rate on a customer “opt-in” basis.”

Product Launch: April 2013

HQ: Annapolis, MD

Founded: February 2010

Website: trustedknight.com

Presenting Joseph Patanella (CEO) and Trevor Reschke (CTO)

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MoneyDesktop Reveals New Data Analytics Marketing Platform

By Julie Muhn (@julieschicktanz) Posted on May 14, 2013
Categories: FinovateSpring 2013, MoneyDesktop

This is a part of our live coverage of FinovateSpring 2013.

Next, MoneyDesktop took the stage to unveil two products in its new marketing platform:

“Along with their industry leading PFM, MoneyDesktop has developed, and will be revealing, its powerful back-end data analytics and marketing platform. Comprised of two products, Insight and Target, the new platform equips financial service organizations with easy-to-consume user insights that can effortlessly be transformed into targeted marketing campaigns — leading to higher conversion rates, greater wallet share and increased loan volume.

Insight leverages aggregated PFM user data to create customizable marketing segments based on users’ growth, demographics, accounts, spending, interest rates on competing financial products and more.

Target turns insight into action by enabling financial institutions to continually create and send targeted marketing content and product offerings that are hyper relevant to their user base. Together – Insight and Target provide financial institutions a groundbreaking new way to market and drive adoption of their most valuable account types.”

Product Launch: June 2013

HQ: Provo, UT

Founded: March 2010

Metrics: Triple digit growth over the past 3 years, 27 Online Banking/Core/Payment Network Partners, 400+ FI Clients, 90+ Employees

Website: moneydesktop.com

Twitter: @MoneyDesktop

Presenting Ryan Caldwell (CEO & Founder) and Matt West (VP Sales)

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Escardgot Launches the Helix SCard and SCard-Go Mobile App

By David Penn Posted on May 14, 2013
Categories: Escardgot, FinovateSpring 2013

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

Representatives of Escardgot are coming to the stage now. The company’s technology makes it easier for cardholders to use the right card for the right transaction.

“The patented Helix SCard, combined with the SCard-GO mobile app, allows a consumer to reduce their wallet-full-of-cards down to a single, secure card. The innovative technology inside the Helix SCard allows it to become any magnetic stripe card – for example, a credit or debit card.

In addition to selecting different cards, SCard-GO mobile app allows a consumer to make transactions, review transactions, and receive electronic offers from merchants. The Helix SCard works with existing POS technology and does not require a hardware upgrade like NFC does. And because it does not require a transaction fee, it is transparent to the credit industry, unlike Square. It is also transparent for the end consumer, as the Helix SCard has the same form factor, appearance, and behavior as a standard credit card.”

Product Launched: May 2013

HQ Location: Sacramento, California

Company Founded: October 2011

Metrics: 3 founders and 5 part-time employees

Website: escardgot.com

Twitter: @Escardgot

Presenting Tom Humphrey (COO) and Garrett Unglaub (Director, Marketing)

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