Finovate Alumni News– March 12, 2013

  • Finovate-F-Logo.jpgCapital Access Network has provided SMBs access to more than $3 billion in working capital and facilitated 100k transactions since its inception.
  • Online CV certification service Veritas Vitae enlists miiCard to help eliminate CV fraud.
  • Forbes highlights BillGuard as 1 of 7 Tel Aviv-based startups.
  • Finextra reports Yorkshire Building Society taps eWise for PFM service.
  • Affinity Solutions to discuss brand loyalty, transaction-enabled marketing at Loyalty Expo 2013.
  • ACI Worldwide assures that it will maintain roadmaps, commitments to ORCC customers in wake of acquisition.
  • Bazaarvoice chooses Cohn & Wolfe as agency of record for North America.
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.

Website Winners: Logix Federal Credit Union

imageThe Financial Brand today published a list of 50 “spectacular websites” from banks and credit unions. While their methodology wasn’t disclosed (see note 1), the winners appear to share one major trait, stunning homepage visuals. The first 20 are especially notable. (BTW, I would have put Citibank and Square in the top 20.)

We’ve already written about ten of the top 20: Salem Five (#1), Simple (#5), PNC Virtual Wallet (#7), USAA (#10), Mango (#12), Perkstreet (#14), Virgin Money (#15), Mint (#16), Movenbank (#18) and Comerica (#19).

But I wasn’t familiar with most of the other top-20, and as a huge admirer of Mr. Pilcher’s tastes in all things financial, I can’t wait to visit the others and report back.

Let’s start with the one that first caught my eye in the screenshot rundown:
Logix Federal Credit Union (Burbank, CA; $3.5 bil; 110,000 members), which for 75 years (until last July) was known as Lockheed Aircraft FCU (screenshot #1).

Observations:

  • The CU, which has the challenge of getting members to accept its new name, has adopted this cute orange robot (Robix) as its brand ambassador and has developed a number of contests and promotions around it. It’s a great way to send a youthful, innovative vibe that fits well with the CU’s North Hollywood location. And it makes for an engaging graphic image. Weber Marketing provided the name change and rebranding package. Extractable did the website design.
  • The website uses a nonstandard primary navigation bar running across the middle of the page. The design uses different background colors above and below the nav bar which helps draw attention to the navigation. The primary nav bar reverts back to the top after leaving the homepage.
  • Secondary navigation pops up in a megamenu below the main nav bar. This works pretty well, though some of the choices were below the fold on my 12-inch laptop, making them hard to get to. But users who are annoyed by megamenu popups can click on the primary items (Banking, Loans, Investments & Insurance, Business) and find all the secondary nav items on a single page arranged in standard HTML format. 
  • There are four versions of the homepage, which I discovered with a page refresh. The second version includes a closeup shot of the robot and features a different promotion in the top-right promotion area (see second screenshot below).
  • Headline copy is cute and concise.
  • The robot branding is carried to its Facebook page which has garnered about 1,500 likes.

Bottom line: The delightful robot image (high-tech, yet playful), orange color scheme, and ample use of white space are great attention-grabbers. Great work and very refreshing.

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Logix Federal Credit Union homepage #1 (11 March 2013)

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Logix Federal Credit Union homepage #2

Note: The “Bright Futures” promotion for youth checking.

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Logix Federal Credit Union homepage #3

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Logix Federal Credit Union homepage #4

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Logix Federal Credit Union Facebook page (link)

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Note:
1. Update (3 PM, 11 March): Jeffry Pilcher, Editor (and owner) of The Financial Brand, told me that it is a collection of websites that he was fond of design-wise. And that the numbering is not a precise measure of their standing, but more a loose indicator, i.e., #2 is ahead of #40, but there is not necessarily a material difference between #2 and #12. 

Finovate Alumni News– March 11, 2013

  • American Banker reports: Union Bank signs up for Fiserv’s Bill Pay.
  • Bolstr featured on MSNBC’s Your Business.
  • Backbase gives a glimpse of the Digital Marketing Module it showed at FinovateEurope.
  • Triple Pundit looks at how the SEC is holding SoMoLend and other debt/equity crowdfunding platforms hostage.
  • USA Today considers Lending Club’s success.
  • CIO lists Expensify as 1 of 3 apps to help at tax time.
  • BellaDati releases updates to its platform.
  • Credit Karma launches app for Android.
  • Med Gadget interviews Diversinet CEO, Dr. Hon Pak.
  • Finextra reports Geezeo signs 1st United Services Credit Union.
  • CashStar announces availability of tablet gifting.
  • Android, iOS updates now provide card-to-card payments with Pageonce.
  • Dough Roller blog names PocketSmith one of the best calendar-based personal finance apps.
  • Continuity Control to partner with cbanc Network to provide regulatory briefing via RegAdvisor.
  • Koolspan and DeviceFidelity team up to build TrustSleeve, bringing microSD-based voice encryption to the iPhone.
  • Locaid and Life360 join forces to help parents stay in touch with their kids.
  • The Financial Brand highlights 50 of the most spectacular website designs in banking: Simple (formerly BankSimple), Standard Chartered, Mint, & Moven. See Netbanker’s take on the list here.
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.

DeviceFidelity Raises More than $470,000

Thumbnail image for DeviceFidelityLogo.jpgMobile wallet developer DeviceFidelity has raised more than 470,000 as part of its current round of funding.

The amount raised represents nearly a quarter of the funds it hopes to raise in its current round, according to this report from the Dallas Business Journal.

This most recent funding news comes on the heels of word in January that the company had raised $1 million in debt financing.

DeviceFidelity made headlines recently with its partnership with Incipio. The two companies will work together to bring to market NFC-enabled cases for the iPhone.

DeviceFidelity was last on the Finovate stage at our Spring 2012 event. See the company’s presentation here.

Finovate Alumni News– March 8, 2013

  • Finovate-F-Logo.jpgTechCrunch reports: PayPal separates developer platform from X.commerce, launches Simpler mobile APIs.
  • Springwise considers the open source nature of TESOBE’s OpenBankProject.
  • Pindrop Security named the Best Rookie Security Company at the 2013 SC Awards.
  • Servant of Chaos reports: SocietyOne eyes off disruption in personal lending.
  • Intuit Small Business blog lists Mint and Expensify as 2 of 4 apps to help manage your small business.
  • UK Wired Magazine reports BehavioSec invents alternative to passwords using biometric fingerprints.
  • Edison Investment Research publishes report covering Virtual Piggy.
  • Founder and CEO of Fuze Network, Dave Wilkes, to speak at the 2013 BAI Payments Connect Conference & Expo.
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.

First Financial, US Bank Launch First Photo Billpay Services

imageI started this post Monday, before I knew US Bank would be making headlines today as the first “major” bank with photo billpay. I got that news last night, when I updated my US Bank iPhone app (see inset).

But First Financial Bank (Abilene, TX; $3.7 billion deposits) actually imagebeat US Bank ($235 billion) to market by more than a month with its 22 Jan 2013 launch (press release; YouTube video). The bank said it had 12,000 bill uploads during the first 10-days of availability.

 US Bank mobile photo billpayBoth services use the Mitek engine to read the image and handle the OCR work. But First Financial also uses Allied Payment Network to process images that don’t get properly digitized on the first pass and Malauzai Software for app development. 

Like remote check deposit, the system will improve over time as it learns the nuances of the thousands of billing statements fed into the front end. But today, there is still work to be done on the minority of statements that don’t read correctly (see note 1).

First Financial features the new service front and center on its homepage (see first screenshot below) with a clever:

Tell your bills to say, “Cheese.”

US Bank has no mention of it on the front page (nor in site search), but if you navigate to its mobile banking page, you can’t miss it (third screenshot below).

image Bottom line: I’m not sure how many people will ultimately use photo billpay (though First Financial seems to be off to a good start). It’s an interim technology until we can convert the country to ebills.

But since that may be a decade from now, using your smartphone to snap-and-pay is the best answer for now. So, we are bestowing our first OBR Best of the Web of 2013 to First Financial  for raising the bar in remote delivery (notes 2, 3). And an honorable mention to US Bank for getting it out to a broader market.  

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First Financial features its new photo billpay on its homepage (6 Mar 2013)

First Financial Bank homepage featuring photo billpay powerd by Mitek


First Financial landing page (link)

First Financial Bank landing page for photo billpay

US Bank’s mobile page features photo billpay prominently (link)

US Bank mobile banking page featuring photo bill pay

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Notes:
1. Just today, the Chase ATM couldn’t read the amount on a computer-generated check we fed into its deposit slot. So we had to manually add.    
2. This Best of the Web goes to First Financial since it was first. Mitek already won when it introduced the technology in 2010 (see our Online Banking Report on Paperless Banking (subscription).
3. Since 1997, our Online Banking Report has periodically given OBR Best of the Web awards to companies that pioneer new online- or mobile-banking features. It is not an endorsement of the company or product, just recognition for what we believe is an important industry development. In total, 89 companies have won the award. This is the first for First Financial. Recent winners are profiled in the Netbanker archives.

Henri Dura Named New CEO of GMC Software Technology

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Former managing director of Neopost Document Solutions, Henri Dura has been appointed to the post of CEO of GMC Software Technology.

Dura will replace outgoing founder, president, and CEO René Müller, who will move to chair the company’s board of directors.

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Dura’s resume includes positions at Xerox, France Telecom, Kyocera, and Pitney Bowles. Before serving as Neopost Document Solutions’ managing director, Dura was the company’s chief marketing and strategy officer.

GMC Software Technology was acquired by Neopost in July 2012. The company will continue to operate autonomously under the new leadership.

GMC Software Technology was among the companies to present at FinovateEurope 2013 last February. Video of the company’s demo will be available soon. To see and read our Live Blog post of GMC’s presentation, click here.

Finovate Alumni News– March 7, 2013

  • Finovate-F-Logo.jpgMSPmentor reveals some interesting stats from PaySimple.
  • U.S. Bank is first major bank in the U.S. to roll out Mitek-powered mobile photo billpay.
  • Luminous considers its experience demoing BankFiling at FinovateEurope.
  • New Zealand Herald reports Xero becomes billion dollar company.
  • CU Times reports Fiserv integrates Popmoney P2P payment tool with its mobile banking app.
  • Henri Dura to take post of CEO of GMC Software Technology.
  • IBS Intelligence ranks Temenos T24 #1 in its 2013 Sales League Table.
  • DeviceFidelity raises more than $470,000 in 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.

FinovateSpring 2013 Very-Early Bird Deadline is this Friday March 8th — Register Now to Save $200!

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With a little over two months to go until FinovateSpring 2013, the event is shaping up to be our largest Finovate conference yet — topping last spring’s record crowd of 1,200 bankers, entrepreneurs and venture capitalists.

There is a tremendous amount of innovation going in the fintech space across the globe. We’re incredibly excited to once again be headed back to the innovation hotbed of Silicon Valley to showcase the best of it.

The pool of applicants for demo slots is the deepest we’ve ever seen in quality and number. While this makes our job of choosing the most interesting ones harder, it also means that the event is going to be our best showcase of fintech innovation to date.

If you want to attend and watch the future of fintech debut live via our unique demo-only format, tickets for the event are now on sale at our “very early-bird” price of $1,195 ($200 off list price) — but only through this Friday March 8th. Please lock in your seat now to guarantee your ability to attend (and these savings)!

We’ll see you in San Francisco in May!

FinovateSpring 2013 is sponsored by: Financial Technology Partners, Hudson Cook LLP, Intuit Partner Platform, Microsoft Advertising, The Bancorp, Think! Finance, Visa & Yodlee

FinovateSpring 2013 partners include: BankersHub, California Bankers Association, Celent, Filene Research Institute & Finance on Windows

SoMoLend Closes Seed Round of Funding Totaling Over $2 Million

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Debt-based crowdfunding platform SoMoLend announced today that it has completed its Seed round of funding, totaling over $2 million.

A recent $400,000 investment from Virginia-based QED Investors finished off the Seed round. Prior investments contributing to the total amount include:

    • $1.2 million in May of 2012
    • $310k in September 2011

The Cincinnati-based startup plans to use the funding to expand marketing, develop fundraising tools, and enhance the platform by adding social networking features.

To learn more about SoMoLend, watch its FinovateSpring 2012 demo.

Finovate Alumni News– March 6, 2013

  • Thumbnail image for Finovate-F-Logo.jpgTSYS makes Ethisphere Institute’s list of the world’s most ethical companies.
  • Opportunity International becomes the first microfinance provider to license analytics solution, Insight, from Temenos.
  • ACI Worldwide presenting at Wedbush Securities Transformational Technologies Management Access Conference today.
  • PayPal signs agreement with Japan-based Softbank and Nihon PayPal KK to extend the PayPal Here mobile payment service to small businesses and entrepreneurs.
  • Cartera Commerce selected by AlwaysOn as OnMedia Top 100 Private Company for third consecutive year.
  • MyBankTracker compares Mint, HelloWallet, and Pageonce.
  • Billhighway announces availability of Give mobile fundraising application.
  • My Money Purdue talks about budgeting with Buxfer.
  • Pageonce COO Steve Schultz interviewed by PYMNTS.com.
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.

PayPal Onboarding Email Messages

image As a followup to last week’s post on the signup process at PayPal, I thought I’d share the onboarding messages received during the first 10 days. There have been three so far (see screenshots below):

1) Day 0: Welcome message

2) Day 3: General message about PayPal benefits

3) Day 4: More specific message about shopping with PayPal

I’ve yet to link a credit card or bank account, so I expect more messages in the near future.

Bottom line: Onboarding is one of those areas that is impossible to perfect. It’s an art and you’ll be forever tweaking it. That said, there are some basics tenets to follow: a friendly, immediate welcome message and prompt followups with benefit-laden messages. PayPal ticks the boxes here, though they could add a bit more visual punch and tighter copy.

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Initial confirmation message from PayPal (24 Feb 2013)

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Day 3: Followup message outlining PayPal benefits
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Day 4: Followup details shopping opportunities with PayPal

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