FinovateAsia 2012 Sneak Peek: Part 2

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Here is the second and final look at the companies that will demo at FinovateAsia on November 6 in Singapore. Each company provided a short summary of the innovation they will debut on stage. In case you missed it, check out Sneak Peek Part 1.

Don’t miss the opportunity to experience the hottest innovations in financial technology at the very first FinovateAsia. Get your FinovateAsia ticket here.

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ayondo shows the newest and third generation of their web application which will be the next 

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generation of social trading. Simply follow the best traders automatically with your brokerage account.
Innovation type: Banking, investing, PFM

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Backbase delivers Bank 2.0 Portal software that provides a new user experience layer on top of underlying infrastructure and IT systems. It gives financials the opportunity to create interactions that link customers to relevant information and applications to fit their needs and preferences. With its modern, widget-based architecture, Backbase Bank 2.0 Portal provides the flexibility and speed to create modern portals that truly empower the customer.

Innovation type: Marketing, mobile, online
BankBazaar.com will demo its 7-minute Credit eApproval 

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process highlighting the platform’s real-time integration with underwriting engines, loan origination systems, net-banking systems, and online payroll management tools. Combined with a full service CRM system powering credit and sales work flow management, the platform delivers 7-minute eApproval via online, mobile, and tablet interfaces.
Innovation type: Lending, mobile, online

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Clari5 iRM brings extreme real-time intelligence to Relationship Managers (RMs) on the move. Typical RM mobile apps are screen extensions of CRM and are not connected in real-time to the underlying core systems. Consequently RMs are the last ones to know when a significant moment of truth event happens. 
Clari5 iRM is a next generation product that interprets customers’ structured/unstructured events in real-time and provides an inference instantly empowering RMs to provide more personalized services. Clari5 iRM also leverages the full power of the device by using its real-time push, GPS, voice recognition, video, and screen sharing capabilities.
Innovation type: Marketing, mobile, sales

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Can publicly available information gleaned from Facebook, Twitter, LinkedIn and other online sources 
help financial institutions predict financial risk?
DemystData helps financial institutions tap into the explosive growth of online, social, and internal data to make better customer decisions. Our latest innovation navigates some of the world’s newest data sources to provide our clients with a deep, holistic view of the modern day consumer, and then uses this information to assess consumer risk and behaviour.
Innovation type: Identity, lending, marketing

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Need an onboarding tool that increases customer engagement? Figlo offers a complete solution to gain insight in financial matters on a consumer level. Financial planning is now accessible to everyone on any device anywhere.
Innovation type: Marketing, online, PFM

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See how financial institutions can save millions by implementing BankFiling, a new innovation from Luminous that delivers short ROI yet requires limited investment. A whole new approach to commercial and business banking. A must see for all financial institutions!
Innovation type: Banking, lending, small business
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Pandai.cn delivers next generation peer-to-peer 2.0 lending services in China by answering what the future of peer-to-peer lending should be. It should be safe, transparent, inclusive and easy-to-understand. 
You’ll see how easy it is to invest in creditworthy borrowers that have passed our robust credit risk management system.
Innovation type: Investing, lending, PFM

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Can you tag your financial position, identify the cross vertical exposure by currency, industry, issuer, region real-time; on-demand? The last 30 years have seen amazing advances in technology that have transformed the world. In the world of financial technology, all of this power has been applied to develop more complex instruments – derivatives, swaps, CDO’s CDS’s – faster and faster trading platforms – “flash trading” and co-location, and risk analytics and trading models.
But, the ability to track and account for this explosion of trading vehicles and volumes is right where it was 30 years ago. Not anymore, come see the future of transparency.&n
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Innovation type: Back office, insurance, investing

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PocketSmith is the comprehensive personal finance app with cashflow forecasting. 
We think that the best way to organize and control your money is to relate it to events in your life by using a calendar. This way, financial planning becomes a part of your daily routine rather than a chore.
As you plan, PocketSmith’s calendar shows you the progress of your money over time, so you will better understand how your financial decisions affect your future.
Innovation type: Mobile, online, PFM

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Want to know the secret to getting 60% of your customers to say yes to eBilling? All it takes is 7 minutes to see why email delivery of bills and statements is what gets customers to turn off paper forever.
Join Striata as we demonstrate our powerful interactive bill which is encrypted, has integrated eConsent, shared password security, instant dispute capability, and mobile one click pay.
With registration-free push email billing, you can drive traffic to your portal, cut your costs and deliver bills and statements right into your customers’ hands. Convenient, secure, mobile ready.
Innovation type: Communications, payments

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In the last 4 years, Tagit Mobility Platform Mobeix has been adopted by several leading enterprises. But, we believe mobility should be for all– large, medium and small enterprises. 
With this vision, we started our journey to build the Mobeix Open Platform through which enterprises can build, launch and manage apps on their own. Using the Tagit Open Platform, merchants and enterprises will be able to develop and deploy apps for their customers and employees in no time. We will demonstrate how easy it is for anyone to register and start building apps.
Innovation type: Banking, mobile, security

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TradeHero empowers ordinary people to make money from the financial markets. Traders are able to place real-time virtual trades against stock exchanges and TradeHero generates performance rankings of the trader community. 
Members of the TradeHero community can follow the top-ranked traders for a fee. Traders can build a following around themselves and monetize off their trade-feeds while those following get relevant, pertinent and timely financial trading tips and feeds.
Innovation type: Investing, mobile, payments

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The world is increasingly adopting smartphones and social media. Leading FIs are beginning to leverage these seismic shifts in communications for competitive advantage, reducing costs and generating new revenue streams. Smartphones change user expectations about online banking services, functionality, and interactivity. They also present new risk vectors that cannot be ignored. 
Zighra’s patent pending mobile technology provides unique interactivity, building closer customer relationships by increasing security, trust, and satisfaction while significantly reducing fraud and associated costs.
Innovation type: Communications, mobile, security

Dwolla Launches MassPay, Enables Users to Pay Up to 2,000 People at Once in Three Steps

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Payments platform Dwolla launched a new feature today called MassPay that will allow users to pay up to 2,000 other Dwolla users at one time.

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Here’s how it works

Step 1
The user enters:

    • Their Dwolla PIN
    • The account from which they want draw the funds 
    • Their email address

Step 2
The user uploads a CSV file with two columns, one with the amount they wish to pay, and the other with the payee’s email address, phone number, or Dwolla ID.

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Step 3

The user defines which columns in the file are the headers, and which contain the payee and payment amount information.

As with all Dwolla payments, any transaction under $10 is free, and for anything over that there is an additional 25 cent fee per transaction.

To promote MassPay, Dwolla will reimburse your first 5 MassPay batches made through November 30 in exchange for feedback about the user experience.

To learn more about Dwolla, watch its FinovateSpring 2012 and FinovateSpring 2011 demo.

Finovate Alumni News– October 22, 2012

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  • Equifax announces Spectrum Verification Services Platform, which helps verification through underwriting, QA & closing.
  • Credit Sesame blog features Manilla as a way to digitize finances.
  • Dynamics to nationally launch ePlate credit card device tomorrow via live webcast with 30+ payment apps.
  • Investment News reports Stockr offers social-media site for those passionate about stocks.
  • HelloWallet updates web app with bulk edit transactions, auto categorization, & re-organizing action steps.
  • VentureBeat explains how Kapitall gamifies stock trading.
  • Tenants Can Now Pay Rent Using Cash with PayNearMe’s Cash-Payment Solution.
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.

Tenants Can Now Pay Rent Using Cash with PayNearMe’s Cash-Payment Solution

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Earlier this week, cash-payment platform PayNearMe partnered with property management software company, AppFolio, to allow tenants to pay their rent in cash.

AppFolio’s software will provide another payment option for unbanked, underbanked, and cash-preferred individuals to pay rent online with cash by using a printed bar code or a bar code on their smartphone that they can take into a local, brick-and-mortar 7-Eleven store.

According to CEO Danny Shader, 20% of rent payments are made using cash or money order, so this was a logical move for the California-based company.

To learn more about PayNearMe, watch its FinovateFall 2011 demo.

Finovate Alumni News– October 19, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgReadyForZero unveils ReadyForZero Plus.
  • Informilo names The Currency Cloud one of Europe’s top 25 hottest early stage companies.
  • Trading Forex Foundation reviews ayondo. Come see Ayondo’s live demo at FinovateAsia on Nov. 6 in Singapore.
  • Braintree Rakes in $35 Million in Series B Funding.
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.

Come see the future of global financial technology debut live at FinovateAsia and FinovateEurope!

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Over the next few months, we’re very excited to be organizing not just one, but two showcases of the best new global financial and banking technology innovations.

First, on November 6 (that’s less than 3 weeks away!), we’re holding our first FinovateAsia in Singapore. Thanks to the help of our awesome sponsors & partners, we have a top-quality audience gathering to watch 36 cutting-edge companies debut their latest innovations. Tickets are still available but going fast so please register today to lock in your seat! 

btn1_ov.pngAfter FinovateAsia, our focus will shift to London in February 2013 where we are running our 3rd annual FinovateEurope to showcase the best new fintech innovations from and for the European market.

This year, we’ve expanded the conference to 2 days to be able to put even more interesting ideas and companies on stage. Judging from the early flood of high-quality applications and ticket sales, it promises to be our biggest and best European event ever.

If you’re interested in doing a demo in London, please email us at europe@finovate.com. If you’re interested in attending, super-early bird tickets are on sale through this Friday at a significant discount.

We hope you’ll consider joining us at one of these international events to watch the best new global fintech innovations debut live!

Come see the future of global financial technology debut live at FinovateAsia and FinovateEurope!

btn4-over.png

Over the next few months, we’re very excited to be organizing not just one, but two showcases of the best new global financial and banking technology innovations.

First, on November 6 (that’s less than 3 weeks away!), we’re holding our first FinovateAsia in Singapore. Thanks to the help of our awesome sponsors & partners, we have a top-quality audience gathering to watch 36 cutting-edge companies debut their latest innovations. Tickets are still available but going fast so please register today to lock in your seat! 

btn1_ov.pngAfter FinovateAsia, our focus will shift to London in February 2013 where we are running our 3rd annual FinovateEurope to showcase the best new fintech innovations from and for the European market.

This year, we’ve expanded the conference to two days to be able to put even more interesting ideas and companies on stage. Judging from the early flood of high-quality applications and ticket sales, it promises to be our biggest and best European event ever.

If you’re interested in doing a demo in London, please email us at europe@finovate.com. If you’re interested in attending, super-early bird tickets are on sale through this Friday at a significant discount.

We hope you’ll consider joining us at one of these international events to watch the best new global fintech innovations debut live!

Braintree Rakes in $35 Million in Series B Funding

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Yesterday Chicago-based payment platform, Braintreeannounced it raised $35 million in capital.

Contributors to this Series B round include:

    • New Enterprise Associates
    • Accel Partners
    • RRE Ventures
    • Greycroft Partners

The $35 million matches the funds of the Series A round Braintree received in June of last year, bringing its venture funding total to $69 million.

To learn more about Braintree, watch its FinovateSpring 2011 demo.

Finovate Alumni News– October 18, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBrightScope adds Dr. Stephen Coggeshall, CTO of ID Analytics, to Advisory Board.
  • Channel News Asia features PlayMoolah.
  • ChannelAdvisor partners with Kabbage to enable retailers to secure funding for e-commerce growth.
  • Fiserv adds features to wealth management platform.
  • The Paypers interivews Andreas Baumhof of ThreatMetrix.
  • The New York Post features SecondMarket.
  • Compliance Week explains how Bolstr enables small business capital ahead of JOBS Act.
  • Digital Money Blog features podcast of Michael Laven of The Currency Cloud.
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.

Alumni Updates from BAI Retail Delivery 2012

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Last week, I attended BAI Retail Delivery in Washington D.C. where over 200 exhibitors lined the trade show floor of the Walter E. Washington Convention Center.

There were 31 Finovate alums on the expo floor, and even more in attendance. My schedule was packed, but I was able to catch up with a handful of Finovate alums.

Here’s what I learned.

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The card-linked offers company is in the middle of a successful mobile deployment effort with BofA, PNC, Regions, and a few other unnamed FIs. After launching their respective rewards programs on mobile, the FIs have seen an increase in user engagement and an increase in the number of online banking visits per user.

It is also working on International expansion. So far the top 3 European card issuers have signed.

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BofA’s BankAmeriDeals on tablet interface


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BofA’s BankAmeriDeals on iPhone mobile app

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The consumer credit reporting agency recently launched its Insight Score for Retail Banking, a solution that will help FIs generate a risk score for underbanked individuals with no credit data or history. It does this by using non-FI-related payment data from companies like Telco and other TV and cable providers.

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The fintech provider showed me its SpotPay payment dongle and back-end solution. It appears to be Fiserv’s response to Square that it will co-brand with FIs. Fiserv is able to on-board FIs with SpotPay in a couple of days, so it is a quick way for FIs to get into the payments game. 
While there is an $8.95 per month fee, it is competitively priced, charging only a 1.99% fee on a swipe, and a 3.19% fee on card-not-present transactions.

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Fiserv’s SpotPay dongle being used on an iPhone

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Because volume and sophistication of fraud has grown, Guardian Analytics started bank-sourcing (think crowdsourcing) fraud by bringing multiple institutions together to collaborate on the types of fraud they’re seeing so the whole industry will be better at fighting it. Tiffany Riley, Guardian Analytics’ VP of marketing tells me they’ve received positive feedback so far.

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Mobile banking solutions company, mFoundry launched its Fin.X platform. This platform can be thought of as a type of app store for FIs to select which products/services they want to include in their mobile app. 
At BAI, mFoundry announced partnerships with Blackhawk Network, Dwolla, and Micronotes 
to white-label their solutions within the Fin.X platform.
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An example of what the Fin.X app platform could look like on a tablet

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The PFM won CUNA Tech Council’s Best of Show Award at BAI. This counts as its 5th Best of Show award.
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MoneyDesktop team with BAI President & CEO, Deborah Bianucci

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After the mobile money solutions company acquired Clairmail 3 months ago, Monitise now has 17 million active users. It is in trials of an NFC solution with a few banks. The solution uses a sticker as opposed to a chip inside of the actual device.

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The electronic banking solutions provider launched Q2clarity, a tablet-optimized dashboard that provides customizable analytics and visibility to how customers are using an FI’s mobile and online platform. Providing these metrics to a branch manager, gives them the ability to make more informed decisions about which products and services to offer.
These eight companies are just a fraction of what I saw at BAI this year. For more information on who attended the trade show, visit here.

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Finovate Alumni News– October 17, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBazaarvoice unveils newest edition of its Bazaarvoice Connections offering.
  • Yodlee Interactive doubles annual growth in its API business.
  • Filene conducts independent review of SaveUp program.
  • GigaOM reports PayPal offers small businesses simple Bill Me Later financing option.
  • Taulia teams with SAP HANA & Amazon Web Services.
  • Equifax introduces EFX Link, advanced customer data integration solution that gives a 360-degree view of customers.
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.

Display Ads in Gmail Morph into Email Ads with One Click

image Evidently, Google has been testing new Gmail ad formats for a year. But yesterday was the first time I’d tested it. It’s a very different experience, one that could be appealing for financial advertisers.

How it works
Yesterday, Lifelock served me a display ad within Gmail. Once you click on it, the ad  morphs into an email (see first screenshot below). It is not only a quick way to evaluate the offering (saving the trip to a web-based landing page), but also allows users to treat the ad like an email by saving it to the inbox, forwarding it, or dismissing the ad forever (the action items run above the message).

If you choose “Save to Inbox” the message shows up in the Everything Else category as a message from yourself (see second screenshot). At that point it’s just like any other message and can be flagged, archived, forwarded or deleted.

Bottom line: The ad format could make offers more sticky. It’s a promising model for financial products, which are usually not quick, spur-of-the- moment purchases. It’s worth testing anyway, if you have a big enough customer base using Gmail.

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Lifelock display ad in Gmail opens up into an embedded email (16 Oct 2012)

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Once saved in the inbox, the ad shows up under “Everything Else” as a message from yourself

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Lifelock landing page (after clicking on Join Lifelock Now) in email ad

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